The Panama City Florida real estate market is as ever changing as the Gulf of Mexico tides.  The Payne Group believes in staying on top of market trends to assist our buyers and sellers in making informed decisions.

Through the end of February, there have been 242 single family home sales (everything except for condos), up from 198 in the same period in 2010.  That is an increase of 22% in the number of homes sold in 2011.  This increase is most likely due to the demand for short sales and foreclosures "distressed properties" as well as pent up demand held over from 2010's weak economy.

Through the end of February, the average sales price for single family homes is $162,000 compared to the average sales price in 2010 of $169,000,  a 4% decrease in average sales price.  This is due to the large number of short sales and foreclosures on the market that typically sell for just below market value.  The number of foreclosures and short sales has affected the average sales price in a negative way due to the sheer number of foreclosures and short sales in Panama City, Panama City Beach and Lynn Haven.  It is expected that the number of foreclosures will drop and the number of short sales will increase as the lenders refine their short sale processes and help more homeowners.

Knowing your numbers in a buyers market is the key to any transaction.  The Payne Group utilizes technology to drive the market numbers and we stay on top of the local market like no one else.

Why hire The Payne Group?

The proof is in the numbers................................

Average Days on Market
Bay County Association of Realtors: 147

    The Payne Group: 71

Average List Price to Sale Price Ratio

    Bay County Association of Realtors:  93.64%

    The Payne Group: 97.99%

Wonder where the market is in Panama City?  I like to track the average sales price and number of sales in the owner occupied or single family market for Bay County, Florida, including Panama City, Lynn Haven, Callaway, Panama City Beach.

In 2010, the average sales price was $169,464 compared to $185,630, almost a 9% drop.

So far in 2011, the average Panama City Florida sales prices is $162,084, just over a 4% drop in the first 2 months.

Compare that to the peak of $257,924 in 2005, you can see that it is a good time to buy in Panama City, Panama City Beach or Lynn Haven.   That 37% drop in average sales price means consumers or buyers should be buying NOW.  Don't wait for the market to go back up!

Call The Payne Group today to start your home search!

Great Tuesday Tactic from Oakley Signs.

Every Tuesday I get a "Tuesday Tactic" email from my sign maker, Oakley signs.  Today I read the "To-Don't" list (see below) and started thinking that this is perfect timing with the local real estate market in Panama City, Florida picking up.  Short sales, foreclosures and also some good ole equity sales are picking up steam here locally.

I have a quick "To-Don't" list for buyers and sellers with a few key points when entering the Panama City or Panama City Beach Real Estate market.

Buyers:
DON'T:

• Start your search without knowing what you can afford, get pre approved first
• Start your search without first doing a wants and needs analysis, this will save you alot of wasted time and energy
• Hesitate if you see the home that you want and need, the good ones go fast
• Look at short sales if you can not wait at least 90 to 120 days
• Look without first contacting The Payne Group

Sellers:
DON'T:

• Overprice your home, it will just help to sell other homes in your neighborhood, price it just below the market to get offers
• Be picky about showing and showing times, have your house ready to show at all times
• Be emotional, think of this a a business transaction and make good business decisions
• tweet, facebook or otherwise post anything about your thoughts while negotiating a deal, it could compromise your position if the buyer is reading your posts

I hope my Tuesday Tactics help.  As always, be sure to check out The Payne Group online at www.KnowPayneKnowGain.com or give us a call at 850-890-0132.  We service Panama City, Panama City Beach, Lynn Haven, Mexico Beach and Rosemary Beach, Florida. 

Jeff Payne, Broker Associate
The Payne Group at Keller Williams Success Realty
www.KnowPayneKnowGain.com

Compliments of Oakley Signs and Graphics

Do You Have a "To-Don't" List?
What you don't do may be as important as what you do.

Some ideas are so good we wish we could take the credit for them. Unfortunately, we can't call this one original, so our hats go off to Tom Peters for first introducing this concept this way and Daniel Pink for introducing us to Tom.

A "to don't" list is "an inventory of behaviors that sap energy, divert attention, and ought to be avoided." You know, those things which keep you from executing your best ideas. The little things (or even big things) that block your from following up on your best intentions. Daniel Pink reports he keeps a list of these activities tacked above his desk.

What keeps you from focusing on your best ideas? Is it too much time on Facebook? Tracking a fantasy sports team online? Reading trashy magazines? Sometimes pursuing "too many good ideas" is something that deserves to be on a to-don't list. Pick the best and stick to them... don't chase every shiny new idea you come up with.

Make a to-don't list. Write them down. Keep them handy. They'll help you focus on the to-dos in your life.

Need to short sale your home? The Payne Group assisted 3 families this week with a short sale.  We closed a Citimortgage, an EMC, and a HAP short sale all this week.

Call The Payne Group, we have the experience to get the job done right!  Don't believe the nonsense about short sales taking forever or not closing.  The longest time frame of these 3 was 92 days from start to finish!

Don't risk a Foreclosure, call us today at 850-890-0132

Remember Know Payne Know Gain

The Payne Group would  like to congratulate my good friend George Brannon jr and his lovely bride Stephanie on their new addition to the family, Harper Jane Brannon.

She is a beautiful baby girl :)

Verizon will be selling the iPhone starting next month.  Anyone thinking of buying one?  I have a Blackberry Storm2 and don't know if I will switch.  As a Realtor, I like the idea of being able to open lockboxes with the iPhone and I like the applications available but other than that I am not sure of switching. 
The Ipad is the next thing that I may do and wonder if there is any benefit to having both an iPhone and an iPad.

What say you?  iPhone or not?

As always, call The Payne Group at 850-890-0132 for all of your Panama City Florida real estate needs!

Tired of looking through endless website for Panama City Real Estate?  The Payne Group has a comprehensive real estate search engine for Panama City, Lynn Haven, Southport, Panama City Beach, Callaway, Inlet Beach, Rosemary Beach, Springfield, Parker, Mexico Beach, Florida.  Our search is a FREE search that covers all of Bay County Florida.

Take a look at our FREE HOME SEARCH today.

When you are ready to purchase, our team will take the time to discover your wants and needs to fully understand your home search.  Our team can save you countless hours and headaches by finding the homes that you WANT and NEED to see and not showing you the homes that don't fit your wants and needs.  We can show you any property in the area through the local MLS so there is no need to call on every sign that you see, we can eliminate that step, saving you time and money, not to mention the aggravation.

Call The Payne Group today at 850-890-0132

4707 Deerfield Dr
Panama City, FL 32404

$170,000

100% financing available!!!

• 3 bedrooms
• 2 bathrooms
• custom wood cabinets
• fireplace
• covered porch
• patio
• privacy fence
• NEW CONSTRUCTION
• low taxes and insurance

Introducing Deerfield Estates, Panama City's newest neighborhood. Deerfield Estates will consist of 20 homes situated on a quiet cul-de-sac in the Cherokee Heights area of Panama City. This custom home is built by Nowell Construction and features 3 bedrooms and 2 baths in an open floor plan. The kitchen/dining room has solid oak cabinets, ceramic tiled floors and an island bar and for extra storage there is a large pantry. The living room is centered around an electric fireplace with built in entertainment nook and bright east facing windows for an open airy feel. The master bedroom has a separate walk-in closet and large master bath equipped with a jacuzzi tub, separate shower and double cultured marble vanity. Access to the 20x7 covered back porch is available from the kitchen or the master bedroom through glass doors with built in blinds. Both spare bedrooms are split from the master and share a large full bath room. Floor coverings include ceramic tile in the entry way, hallway, kitchen and baths and the living area and bedrooms are wall to wall carpet. The exterior features brick front and back and partial brick sides with vinyl siding for years of maintenance free living. Other features include a 6x20 covered front porch, 30 year architectural shingles and a concrete driveway. This home is priced to sell, come see for yourself what Deerfield Estates and Nowell Construction have to offer.

Visit The Payne Group for more information on 4707 Deerfield Dr or any property in Bay County Florida. 

Whether you need to buy or sell, The Payne Group can handle all of your real estate needs.... foreclosures, short sale, vacant land, condos... we have them!