Home Buying in Panama City>Question Details

James Fraser, Home Buyer in Enterprise, AL

Which area is best for investment return: Panama City, Panama City Beach, or Lynn Haven?

Asked by James Fraser, Enterprise, AL Mon Sep 1, 2008

I have been relocated to the Panama City area. My wife will join me in 9 months. I'm looking to purchase a property in the area to live in while she prepares our current home for sale or rent. The property I buy to live in until she gets here will then become rental property. Where and what do you suggest I buy to get the greatest return?

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8
Lynn Haven if you want high taxes and micro-management........millons of tax dollars unaccounted for HMMM... things they don't want you to know! Panama City is a crap hole and I wouldn't spend a dollar there. The Beach is nice but be carefull where and what you buy.....do your research and offer at least half of what they are asking.....buyers market right...that's what they are selling you on but they work off of commission...HMMM.....The new airport, if it's ever finished, will increase property value but they still don't have major investers confirmed. Do as you need but walk carefully and carry a big stick...beat the greedy down one at a time.
1 vote Thank Flag Link Thu Dec 31, 2009
Hi James:

You will absolutely love being here in Panama City, Florida. We have the most beautiful beaches in the world as I am sure you have seen by now. As far as where the best place to live is a lot to consider when you have so many choices and different circumstances. There are things I feel that are of importance in choosing where you live and what is important to you and your family as far as schools, drive time to work and your love for the water. Lynn Haven area has some of the best schools around. If you are military or work on the base and will be driving to Tyndall Air Force Base you will probably want a reasonable drive time, or if you will be working in Panama City Beach then you would want to live closer to that area. I would love to help with your home needs, but I feel there are questions that must be asked in order to better serve you. You may reach me on my cell any time at 850-527-2275 or you can go to my website at http://www.bestpanamacityrealestate.com.

Best Wishes,

Trish Wheeler, Broker Associate
Counts Real Estate Group, Inc.
0 votes Thank Flag Link Tue Dec 1, 2009
James,
Of the 3 areas in your heading, I'd chose: Panama City Beach, Lynn Haven, then Panama City.
BUT take this into consideration:
I'd put money on the CRA areas being a good investment on return due to improvements.
AND since it's tax money thats making these improvements, we are all putting our money on it.
There are 4 CRA's (Community Revitalization Area) in Panama City.
With rough economic times these will be the heartbeat of progress, maintanence and growth.
These areas engross Downtown, St. Andrews and Millville and they all contain very affordable properties.
Some are zoned for multi-use, so they have to potential to be offices and many are surrounded by medical, legal and/or professional offices.
Others are multifamily properties, such as a duplex or triplex, which can produce an income for you and help you pay for your property.
Ideally, you'll be close to work and in these areas, you'll also be able to walk to festivities, parades, shops, restaurants and, best of all, the water!
My long term (10-20 year) value increases would have to be in none of these areas, but outside of them and still inside Bay County limits, you know, the outskirts of town. Feels more like Enterprise out there now, but will most likely be taken over by development in the long run.

Melana 814-2235
0 votes Thank Flag Link Tue Jun 16, 2009
Hi James,
Thank you for the reply. I did a search in the MLS and came up with 389 properties in your price range. So we may need to narrow it down by using other criteria like year built, property type, location and so on. But this is a good start. I have include single family homes, condos and townhomes (aka attached single family). So if any of these property types are not what you want just let us know.

Use the links below to see the properties. When you get to the property sheet click on the address to see a map and click on the photo to see more photos.

http://panamacitymls.net/BayReports/listings.asp?ID=2986516963

http://panamacitymls.net/BayReports/listings.asp?ID=2986516964

http://panamacitymls.net/BayReports/listings.asp?ID=2986516965

Please let me know your thoughts and if you have any questions. Please dont hesitate to call us as well.

Thanks and have a GREAT day!
Kind regards, Mike and Vivian Foate
~~~~~~~~~~~~~~~~~~~~~~~~~~
MIKE'S CELL: 850-596-4236
VIVIAN'S CELL: 850-814-2372
~~~~~~~~~~~~~~~~~~~~~~~
Mike and Vivian Foate-REALTORS®
Prudential Shimmering Sands Realty, Inc.
400 S. Hwy 79
Panama City Beach, FL 32413
0 votes Thank Flag Link Sun Sep 7, 2008
Our price range is 70,000 to 135,000. I must report to PC the first of October 08 and would live at the property I purchase for 9 months to 1 year. I would consider both short term and long term rentals once I exit the property.
0 votes Thank Flag Link Sun Sep 7, 2008
Hi James,
Do you have a price range?
What is your time frame to live in the property that you want to buy now?
Do you want to rent your rental property short term or long term?

Answers to these questtions and I have a few more... :-) will help determine what type of property and the location in order for you to get the greatest return.

If you have answers and you would like more questions :-) ... please feel free to contact us.

Thanks and have a GREAT day!
Kind regards, Mike and Vivian Foate
~~~~~~~~~~~~~~~~~~~~~~~~~~
MIKE'S CELL: 850-596-4236
VIVIAN'S CELL: 850-814-2372
~~~~~~~~~~~~~~~~~~~~~~~
Mike and Vivian Foate-REALTORS®
Prudential Shimmering Sands Realty, Inc.
400 S. Hwy 79
Panama City Beach, FL 32413
0 votes Thank Flag Link Wed Sep 3, 2008
Hello James!

Panama City Beach would be the best possible return on investment. If you were to buy in, lets say, the west-end of Panama City Beach, I think you would get a better ROI since you could rent it out either weekly or monthly to spring breakers and families during the summer months. In addition, the west-end has seen many updates including the new Pier Park, newer condominiums/subdivisions and will be the starting point to everyone's vacation once the new airport is complete.

If possible, try to buy in walking distance to the beach as you can market this potential spring/summer guests that are looking for a home to stay in, instead of a condo.

I see you've already visited our website, so please don't hesitate to ask any questions.

Best wishes.
0 votes Thank Flag Link Wed Sep 3, 2008
My choice is Panama City Beach due to its proximity to the new international airport and the impact it is having on this seaside area. PCB offers Gulf-front condos and townhomes, beach cottages, detached single-family homes, golf communities, retirement neighborhoods and wooded inland environments. There are also exciting new developments that will change the landscape of this region forever - there will be something for everyone from the new Oceanside Pier Park entertainment center to Wild Kingdom Animal Park to fishing at the new Pier and boardwalk! And, much more is on the horizon – we are hoping to be a stop for the Disney cruise ships in the future!

PCB is a very popular vacation and second home spot. We also have historically had a strong rental market. We are currently experiencing a very strong buyers market so your money goes a long way towards wealth building investments. This market, combined with the tremendous benefits of the new international airport, brings predictions of good value and profitable appreciation on purchases made in the current market.

CLICK the link below to read and learn about Panama City Beach, Florida, USA. Search all properties that are for sale in PCB and surrounding areas here: http://www.coastal-lifestyles.com

Please let me know how Keller Williams Success Realty and I can be of further assistance.

Kirsten McAndrew, Realtor
Keller Williams Success Realty
Panama City Beach, Florida 32413
(850)819-3806
kmcandrew@kw.com
Web Reference: http://www.pcbeach.org
0 votes Thank Flag Link Tue Sep 2, 2008
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