Everyone is talking about the hot topic of Foreclosures and the relation to Panama City and Panama City Beach Florida Real Estate. The right buyer with the right guidance can make a wonderful investment in these types of properties...........however........you can get into a bad spot also if you are not careful!!
We have written an article on www.InvestSmarter.com about buying and selling foreclosures and short sale properties. Take some time to review those points online and see more details on the loop holes, tax benefits, and more importantly the potential bad outcomes with these types of properties.
The article below is an interesting take. Take a few minutes to read through the basic information and let us know your feedback/thoughts on the market.
Foreclosures Eased Compared to May
Foreclosures declined 3 percent from May to June but were still up 50 percent compared with June of 2007, according to RealtyTrac Inc., which monitors the foreclosure process.One in every 501 U.S. households received a foreclosure filing last month.Foreclosure filings increased from a year earlier in all but 11 states. Nevada, California, Arizona, Florida and Michigan continued to have the highest foreclosure rates.In today's market, about 50 to 60 percent of borrowers nationally who receive foreclosure filings are now likely to lose their homes, said Rick Sharga, RealtyTrac's vice president of marketing, compared with a typical rate of about 40 percent.
Source: The Associated Press, Alan Zibel (07/10/2007)
For more information on the Panama City Florida Real Estate market take a look online and see what is available in our area. If you are wanting updates on short sales or foreclosures, contact us and let's see if we can't put together a series of emails with these types of properties. Always feel free to look online at www.Panama-City-Beach-Florida-MLS.com for available properties in the Panama City and Panama City Beach Florida Real Estate market.
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