My good friend John Shook, a Realtor at Prudential Shimmering Sands, recently wrote an article for the News Herald that I thought was insightful. Here is the article:
Is It Time To Buy, Or Should You Keep Renting?
Today’s market is an anomaly in the history of local real estate. Rarely have there been so many late model homes with such quality and good prices. If you are renting a decent two bedroom apartment in Panama City, then your rent is six hundred fifty dollars. Is it possible to live better on less money? Is three bedrooms, two baths, and a garage better living?
As of writing this article, there are ten homes in Bay County under $100k and less than ten years old. Most of these homes will have low maintenance requirements and low energy needs. They have three bedrooms and two baths so they have room for a young family, a yard for the dog, and a garage for your stuff.
A thirty year mortgage at today’s rates with five percent down and you are looking at a complete payment of $645/month which will include taxes and insurance. Sure, you will have to pay for your own maintenance and garbage service. However, you will also be earning equity instead of watching your money get hauled off to your landlord’s bank account.
If you plan to make Bay County your home for the next 5 years, you should absolutely buy instead of rent. Contact a BCAR member for mortgage and home specifics. See how easy it is to buy a recently built, or even brand new home that fits your budget.
John hits the nail on the head. It is a buyers market like we haven’t seen in generations, with a perfect storm of depressed prices and low interest rates. If you want to buy a house, John is a good guy to have on your side. You can contact him at johnshookxr@gmail.com, or 850-527-8699.
If you want to sell your house, I can help. Buyers are scarce today, but I am still buying houses, even in this slow market. Many of the people I buy houses from are not in any sort of distress…they just want a quick, easy sale, without having to go through the normal hassle of selling a house. Give me a call at 850-763-7355, and let’s get your house SOLD!