PURCHASING A HOME

I don't recommend purchasing a home as the real estate market is extremely unsteady. When we arrived a about 3 years ago the Panama City housing market was in a boom. People paid way more for homes than they are worth. For those of us who purchased during the boom we are pretty well stuck with our homes or face a huge loss.

Also, with the area being so run down it is not an area that would appeal to anyone other than those who are relocating mostly with the Air Force and Navy bases in the Panama City area.

When you contact a Panama City realtor you may ask where the good neighborhoods are, be prepared to get a vague response. Here in the Panama City area it is common to find a nice home right side of a run down trailer or shack. This place is set back in time about 30 years.

If you do decide to purchase then shop around for Realtors. Many are very inpatient and expect for you to choose a house on the first time out. This is due to them being spoiled by the boom back about 3 years ago when homeowners could name their price and if a buyer would hesitate or try and negotiate they would lose out to another buyer.

Those days are over in Panama City, at least for now!

The Air Force has made a move of the new F35 planes sending them to Eglin AFB. This is has the Bay County Commission kind of nervous as it could be seen to come as the start to a draw down. Bay County depends greatly on the presence of Tyndall Air Force Base for the stability of the local economy.

Any rumor of a possible draw down could be devastating for the local economy as it would make potential homebuyers skiddish.