The Panama City real estate market has had its strongest summer in 6 or 7 years now. 150 single family houses sold in July, a little down from June, but still a very respectable number. Prices are still down, but at least things are selling again and inventory continues to drop. The bad news is that the pace of foreclosures is accelerating, meaning that inventory will probably rise and prices drop at some point in the future. We aren’t out of the woods yet, but right now is a window of opportunity for seller. Buyers are looking, and buying! The time to sell is NOW, before the next wave of foreclosures hit. Watch the video for all the details and numbers.
If you are having a hard time selling your house, I can help. I buy houses, pretty or ugly, and I can usually close in a week or less. I have been buying houses in Bay County since 1989, so you can deal with me with confidence. Call me at 850-763-7355 and let’s talk about your situation. I would like to help you get your house SOLD!
Chan,
Why in 6/8 months will house pricing be forced down?
because of increased foreclosure activity. new foreclosure cases are being filed at a faster rate than houses are selling off of the market. most of those new foreclosure cases will become new distressed houses on the market in about 6-8 months (the normal length of time for a case to wind through the court system). more inventory, especially distressed inventory, puts downward pressure on prices.
chan