Thursday, November 30, 2006

Leases and Commercial Sales

Well this past month has been very busy, which is a good thing :)

As we talked about in our last posting, since the announcements we have been very busy on the commercial and investor side.

Leases are doing very well for businesses looking to upgrade as well as new businesses about to open. Jessie handles these clients and so far everyone is pleased with the options he is able to negotiate.

There are plenty of new investors in town these days and it's certainly a welcome site. From new investors to seasoned pro's with our help many are beginning to realize what we've been saying for quite a while: Panama City Florida Real Estate is a very good opportunity to invest in real estate. We typically experience very high appreciation rates and CNNMoody's agrees!

The prices in our area have stabilized quite nicely and with interest rates holding steady it's a great time to buy that second home for vacation and rental possibilities.

Contact us at your convenience and we'll be glad to assist you with your Real Estate needs.

There probably will not be another post until January (unless of course we learn of some outstanding news we think you should be aware of) so until then:

Happy Holidays and Have a Great and Safe New Years Eve

Leases and Commercial Sales

Well this past month has been very busy, which is a good thing :)

As we talked about in our last posting, since the announcements we have been very busy on the commercial and investor side.

Leases are doing very well for businesses looking to upgrade as well as new businesses about to open. Jessie handles these clients and so far everyone is pleased with the options he is able to negotiate.

There are plenty of new investors in town these days and it's certainly a welcome site. From new investors to seasoned pro's with our help many are beginning to realize what we've been saying for quite a while: Panama City Florida Real Estate is a very good opportunity to invest in real estate. We typically experience very high appreciation rates and CNNMoody's agrees!

The prices in our area have stabilized quite nicely and with interest rates holding steady it's a great time to buy that second home for vacation and rental possibilities.

Contact us at your convenience and we'll be glad to assist you with your Real Estate needs.

There probably will not be another post until January (unless of course we learn of some outstanding news we think you should be aware of) so until then:

Happy Holidays and Have a Great and Safe New Years Eve

Saturday, October 07, 2006

Busy busy busy...

Not that w're complaining mind you, we've just been a bit busy and unable to post to the blog as often as we'd like. But rest assured we will keep you updated as often as we can.

So, now that you know about the airport, how about a little more information on Commercial Real Estate in Panama City, Florida!

Since the FAA's announcement, commercial real estate interest has picked up considerably. Everyone is looking to get in on the boom before it hits. Unfortunately, they all want land right next to the airport and the boom is hitting right now!

Sorry to say, that land around the new airport has been owned by the St. Joe Company for years. There are very few parcels available near the new airport. There are 2 that I know of however, and are a very good price. If you're interested, give me a call or email me and I'll send you information!

So, instead of land, how about a new business or land investments in one of the main business corridors? Those are always good investments. Interest in these areas is on the rise and good deals can be found if we search together.

Overall, the real estate market in Panama City, Florida is alive and well. While the residential and condo markets are not what they have been in the past, there are still deals to be found.

Give us a call or drop us an email and let us know how we can help you.

Till next time...

Monday, September 18, 2006

The New Panama City Airport and what it means...

The news is spreading - The Panama City - Bay County Florida Area has passed another hurdle to gaining a new airport, FAA approval.

Instead of discussing whether or not a new airport is needed or discussing the environmental impacts, let's discuss something else...The Economy of having a new International Airport.

The Panama City, Florida area has historically been a tourist oriented area. The typical industry within the area has focused primarily on the tourist trade, from small family owned service oriented businesses to the Corporate Condominium builders and everything in between.

It is my opinion however, that the current state of the economy is in need of a shift. We can no longer afford to be a small town community relying solely on the tourist trade for prosperity. It is time we grow, and it is time we seek investors and businesses to help our community realize its full potential.

I call on our elected officials, city councils and politicians to help, aid and direct us in our search for growth by offering incentives to entice major business entities into our area. Whether the incentives be land grants or tax incentives, it is time to stop thinking about 'remaining a small town' and think about becoming a major business oriented market place.

With big business comes new jobs, higher pay and improved social and economic development. Not only with increased taxes but also with increased family income higher paying jobs bring with them as well as the residual income family's will have to spend within the community.

When corporate and big businesses such as manufacturing, high tech firms and corporate headquarters arrive, they bring with them higher paying jobs which directly influences the community. Higher paying jobs means more money to spend on incidentals, more money means affordable housing. It's a win win situation for everyone.

Local family owned businesses will prosper, our infrastructure is able to grow and support the business growth with revenue from taxes, our college graduates will begin to look for a future right here in our community as opposed to moving to other areas where high paying employment exists. Our schools and education system is able to prosper when there are more funds available to support them.

The writing is on the wall and it's time for us as a community to embrace the change. It's time to focus on our social and economic future and welcome the growth with open arms. We can no longer afford to be just a tourist oriented community.

As a Keller Williams Commercial Real Estate professional, it is my duty to help the community by soliciting big business and corporations to show them the value of bringing their entities to our area. I call on the city councils to help me do this by providing the incentives needed to bring major corporations and big business to our area.

We have a great community in Bay County Florida with friendly people ready and willing to work. We have colleges that are producing graduates that can help make our area grow and prosper. We need to offer these graduates jobs they can not only be proud of but also have a hand in the growth and the ability to realize their visions of the future for themselves and their families.

Sunday, September 03, 2006

It's Investor Time !

Hi everyone,

I hope you have been enjoyed reading my blog. To date, we've covered Buying a Home and Selling a home. What I thought I'd do now is offer information on how to help you start building for your retirement.

Purchasing the right Investment Real Estate, I believe is one of the best things you can do for your retirement. With that said, I'm going to hand the pen over to my partner: Jessie Cochran. Jessie works with our Investors and Commercial Real Estate partners. I know of no one else more qualified to help you with these important lessons then Jessie.

I'll be checking in on you all from time to time, but in the meantime enjoy learning about Commercial and Investment Real Estate...

Hello everyone, allow me to introduce myself, I'm Jessie Cochran and as Jennifer said I am her partner and I typically work with our Investor customers and Commercial Real Estate Buyers and Sellers. You can learn more about me on her website and during the coming blog entries you'll get to know more about the services I offer and how I help my customers realize their successful Commercial Real Estate Investment Strategies.

We are currently in the process of expanding the Panama City Fl Real Estate website by re-developing our Commercial Real Estate website: For Sale in Panama City. We promise you, it will have the same clean look and easy to navigate content as Panama City Fl Real Estate and will be just as rich in content! We are due to release the new and improved For Sale in Panama City website before the end of this year.

It is an exciting time for Jennifer and myself thanks to many of you, our new customers. As our business expands we continue to hear from many of you who have worked with us for the first time and trust us to continue to work for your future. We thank you for your input on our website, your business and we continue to promise to give the best Real Estate Information and Services availble.

Over the next entries, I'll be discussing Commercial Real Estate and de-mystify that portion of the Real Estate Market.

We'll start with an article I wrote: Investing for Beginners. It covers the ground rules for learning about Real Estate Investing, Financing, Working with a Qualified Agent and an Introduction to Investment Strategies.

In my next post we'll jump right into de-mystifying Commercial Real Estate and how everyone can profit from this type of investment.

Monday, August 28, 2006

An interesting Occurance...

Something you may find of interest occured to Jessie the other day. In case you are not familiar with Jessie, he is a member of my team, he specializes in residential, commercial and industrial investments, my webmaster and my husband :)

He had been working with a couple who were interested in purchasing a new home. They were a military family, and wanted to go through VA (Veterins Administration) to purchase. Jessie introduced them to several local lending institutions whom we have worked with in the past, including Century 21 Mortgage who provided Jessie with a pre-approval letter. All the lenders Jessie introduced the couple to were willing to assist them with financing, but as it turned out they chose an out-of-state lender from the internet instead.

Jessie found a home that met their criteria perfectly, and they seemed to love it! They made an offer, Jessie wrote the contract and submitted it to the selling agent and it was accepted. Jessie then advised them to get a home inspection, home owners insurance, and get started with the financing right away.

As the days passed, the couple went from one lender to the next, never being happy with estimates they were given or the service they said they were given. Finally they chose one lender. The lender ordered the appraisal and the couple paid for the appraisal POC (Paid Outside Closing).

During the next few weeks, Jessie had been in contact with all concerned parties to make sure everything went well and there was nothing anyone needed for closing. The day before closing the event happened...

The lender contacted the title company and stopped the closing! The title company called Jessie but he hadn't a clue as to why it would be stopped. He had spoken with the lender the previous day and all was in order.

Jessie tried to contact the lender all day and finally was able to get through. It seems the couples VA status was turned down by VA! That's odd in itself, so he asked for more information. It seems, the husband had changed jobs 2 days before closing and therefore was considered 'in training' which is not allowed for VA funding.

While speaking with the couple, they said 'no one told us'. This is interesting because in the very beginning Jessie consulted them about NOT making any changes to their financial status during this time.

So, the deal fell apart, and no one was happy! The seller wants to keep the Earnest Money Deposit, the buyer's would like it back. The buyers have had the worst possible experience with something that should have been the happiest experience of their lives!

Interesting huh? What would you do in this situation? Who would you side with?

A side note here:

The out-of-state lender was at no time willing to work directly with Jessie. This posed a problem as the information was always third hand. He had to get the couple to speak with the lender and they had to report back to him on what was said. This is not how things should be done. The couple should only have to give the lender permission to discuss their loan with him to resolve this problem.

So a few words of suggestion:
When working with a lender, it is best to use a local lender or one you have used in the past. Local lenders know the market place and how to get things done on time. If you choose a lender you work with, all the better as they are familiar with your financial stability.

Whenever possible, always include your Real Estate Agent as the primary contact for dealing with lenders and title companies. That's what we're here for! We're here to make your real estate experience as stress free as possbile and perhaps one of the happiest experiences of your life.

Thursday, July 20, 2006

Step 5: Making the Deal

Well we've gone through the preliminaries now it's time to make the deal.

A buyer has made an offer - now it is time to negotiate. Rely on me, your real estate professional to guide you through this process. I will help you arrive at an acceptable price, terms and conditions. Once you have accepted an offer, help keep the deal together by meeting deadlines and criteria, including home inspections, appropriate buyer visits, scheduled deposits and other steps.

In fact, during this period there may be a renegotiation of the accepted offer price depending on the outcomes of these visits. As the closing nears, you may also need to perform repairs or do additional work to the house as agreed upon in your contract. In addition, you will need to have the house "broom clean" prior to the closing so that the buyer can complete a final walk through.

When you finally arrive at the closing table, come prepared with the appropriate certificates and approvals as required by your town, county and state. Ask the appropriate agency or get a list of what you need from me, your REALTOR®. Once the money has exchanged hands and all the papers signed it's time to hand over the keys and concentrate on your next big project - getting YOUR new home in order.

Step 4: Protecting Yourself

Ok, so we've talked about getting your home ready to show with tips, and protecting you from costly repairs. We've also talked about setting the price correctly for a quick sale.

Let's take a minute to speak about safety:

In some cases, a home sale can also be an invitation for danger.

Here are some things as your Century 21 Professional, I will do to make the process safer:

• I will always qualify the potential >buyer before showing your home
• I will always get pre-approval letters
• I will always verify potential buyers identification
• I will always give you as much lead time as possible before showing your home


Here are some things you can do to make the process safer:

• Lock up and hide collectibles and valuables
• Remember "For Sale" signs bring in buyers. Do not allow your children to open doors to strangers.
• If you have pets, make sure they are controlled
• Remove any dangerous items such as lawn tools in the yard, bikes and skates etc.
• Talk to me, your CENTURY 21 Sales Professional about additional safety tips to help protect you and your family.

Remember, we are selling your house together. Your committment to the sale is very important to allow me to do the best I can for you my customer.

Step 3: Showtime

Now it's time to get your home ready for the spotlight. Start with a good cleaning, then eliminate any clutter, add a fresh coat of paint and tidy up the yard. Talk to me, your real estate professional about other tips that can help boost a home's curb appeal and impress potential buyers once they're in the door. One way to make a home more attractive is to purchase a Home Protection Plan. This insurance protects you, the seller, from paying repair or replacement costs of major items during the listing period. It also protects the buyer during their first year of homeownership.

In addition, make sure you are aware of all the federal, state, and local disclosure laws. This information can be obtained by the specific local and federal government agencies or directly from me.

Step 2: Setting the Price

Ok, now we have established that we need a marketing plan. Let's talk price!

A key part of the marketing plan is setting the list price. If a home is priced too low, it may cost you money. If a home is priced too high, potential buyers may be scared away. To determine the best asking price review the cost of recently sold homes, evaluate the competition and study marketplace trends. As a CENTURY 21 Sales Associates I am trained to use this information to help you reach the right asking price. We will also discuss other terms and conditions, such as timing and items that can be included with the sale of the home. Both of these can make your home more attractive to potential buyers.

Make no mistake about this topic, the selling price will either help you sell your home quickly, or it will cause the home to sit on the market for an extended period of time. The longer a property sits on the market, the more money it costs you the seller in Insurance and mortgage payments.

Perhaps you have already found a new home and are making two mortgage payments, the expenses will get very costly if the home is not priced correctly.
The #1 reason a home does not sell is the asking price!

Step 1: Creating a Marketing Plan

Ok sellers, it's your turn...

We will be focusing on sellers for the next few posts. I hope these posts are providing you with valuable information and giving you what you need to make informed decisions regarding your Real Estate purchases and sales.

Create a marketing plan for your home that will help distinguish it in your local marketplace and attract buyers to your property. This may include advertising in the newspaper, posting your listing on the Internet, holding an open house and more. As a CENTURY 21 Sales Professional, I often use the CENTURY 21 Customized Marketing System to create a personalized selling program for my clients. Its purpose is to sell a home at the best price possible in the shortest amount of time.

Sellers, it is imperative when working with a Real Estate Agent that you heed their advice. We are after all the experts. We continually educate ourselves to maintain current knowledge about the laws and markets in which we work.

In our next post, we will be discussing price. This is perhaps the most misunderstood and often compromised topic about selling a home that sellers face.

Step 5: Inspection & Insurance

Previously, we talked about making the offer and I've given you some Real Estate Terms to help you. So, the offer has been accepted and now it's time to inspect the property and obtain home owners insurance.

After your offer is accepted you will need to set up, coordinate and interpret various inspections, including insect, radon, building quality, oil tank, title, etc. You will also need to arrange for homeowners insurance and finalize the mortgage.

This is a major step in the buying process and there are many potential problems that can be discovered during this period. These include a leaky roof, radon gas, termite damage, a foundation problem, and wall cracks, to name a few. These problems happen all the time. The difference between closing on your dream home and starting the process all over again is what occurs during the negotiations between you and the seller.

As your CENTURY 21® Real Estate Professional and a Realtor® (member of the National Association of Realtors), I can help make these discussions go more smoothly. In most states you will also have the option of a "walk through" before the closing. This is your last chance to make sure that all of the items that you have agreed upon were completed to your satisfaction. I will be there for you at every stage of the process so you have an expert on hand when you need one!

Sunday, July 02, 2006

Real Estate Terms

The following are some common real estate terms used by buyers, sellers, brokers, real estate agents, bankers, and other professionals involved in the real estate transaction process. Check my blog frequently for more terms. If you have any questions about buying or selling real estate, contact Jennifer today at Panama City Real Estate or 800-728-0853

Disclosure laws:
State and federal regulations which require sellers to disclose such conditions as whether a house is located in a flood plain or whether there are known defects in or affecting the property.

Earnest Money Deposit:
EMD, A portion of a down payment given to the seller by a potential buyer indicating the buyer’s intent to complete the purchase of the property.

Easement:
A right to use the land of another.

Encroachment:
A condition that limits the interest in a title to property such as a mortgage, deed restrictions, easements, unpaid taxes, etc.

Equity:
The value of real estate over and above the liens against it. It is obtained by subtracting the total liens from the value.

Equity mortgage:
A mortgage based on the borrowers’ equity in their home rather than on their credit worthiness.

Escrow:
The placement of money or documents with a third party for safekeeping pending the fulfillment or performance of a specified act or condition.

Federal Housing Administration (FHA):
An agency within the Department of Housing and Urban Development (HUD) that administers loan guarantee programs and loan insurance programs to make more housing available.

Friday, June 30, 2006

Step 4. Making an Offer


Once you find the home you want, you need to make an offer for the house. Typically this is a very difficult and trying time since both parties have totally different goals. In most cases it is better to have a third party, such as a real estate professional, negotiate the offer. If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about their property - positive or negative. This could hurt you in future negotiations.

This might also be a good time to consider purchasing a home protection plan. These insurance policies can be purchased by the buyer or seller and help protect against unexpected costs or home repairs during the listing period or in the initial years after a home has been purchased.

Friday, June 16, 2006

Step 3: Shopping For Homes

Previously we discussed: Knowing what you want & Figuring out what you can afford. Now we can start shopping for homes.

Once you know what community you'd like to live in and have an idea of how much house you can afford, its time to start checking out actual properties. Beginning this search online can help save you time since it can help you target homes that meet your search criteria. A home notifier can even email you when properties come on the market that meet your search criteria. If you are considering a home in Bay County or Panama City, you can search for homes on my web site.

Next, begin visiting homes in person. Ask your local real estate professional to arrange visits and attend open houses that are in your target area and price range. If you are not currently working with an agent and would like me to assist you in finding one in your area, contact me and I will find you a Century 21 professional.

When comparing homes, make sure to look at all aspects of the property. Is the property tax approximately the same? Are both the houses renovated? Do they both have the same amount of bedrooms and bathrooms? Are both houses located on the same or similar streets? Does either house have any encumbrances?

Remember to keep an open mind when you are looking at homes. Use a virtual home planner to help you imagine what the house could become with you as the owner.

Wednesday, January 18, 2006

Did you know...

First time home buyers may qualify for special considerations when purchasing?

Chances are that if you can afford to pay more than $750.00 a month for rent, you can afford to purchase a home?

There are significant tax advantages of owning your own home? *

If you've lived in your primary home for more than 2 years, when you sell it there are significant profit related tax incentives? *

Contact me for more information.

* Always consult with a qualified tax accountant prior to making any tax related decisions.

Let's start with Buying Basics...

Of most importance when buying a home is to define what you want, so let's begin shall we!

Step 1: Defining What You Want

Start by creating a prioritized list of features you want in your next home and the reasons why. Use it as your search guide, but remember that depending on your funding, you will probably need to make some compromises. In addition, talk to your real estate professional, ME :) about where you want to live. Location is a huge part of any move. I am trained to help my clients narrow down their choices by sharing market trends and local information like neighborhood statistics and community information.

Step 2: Figuring Out What You Can Afford

Now that you know what you want, it's time to see what you can afford. You can start by crunching the numbers yourself using our selection of calculators.
When you're ready to move to the next step, you can get pre-approved for a mortgage. This process can often be performed in under an hour and it accomplishes two important goals. First, it will tell you how much house you can afford and what your monthly payments would be. Second, it tells the seller that you can afford to buy their home.
By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property. Many times a buyer can use this pre-approved status as leverage during the negotiation process.


You can always find more information at My Website
Century 21 Website or my office website.

Next time we'll discuss shopping for a home and making an offer.