1. 4 bedroom foreclosure in Lullwater  for $199,995
2. Vintage block beach house for $160,000
3. Upscale foreclosure in Seacrest Beach for $544,900

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Deal 1

• $199,995
• 1,790 square feet
• Great home ready for the tax buyer credit
• 4 bedroom 2 bath home with office space
• close to the beach and Pier Park in the Lullwater subdivison

Deal 2

• $160,000
• 1,008 square feet
• 2 bedrooms and 1.5 baths
• Big back yard with room for a pool
• Vintage block home just a few steps from the beach
• Very quiet neighborhood, Wells Gulf Beach Estates

Deal 3

• $544,900
• 2,510 square feet\
• 4 bedrooms and 4.5 baths
• Balconies off every bedroom, travertine and oak flouring throughout
• Seacrest Beach located near Rosemary and Alys beach

After briefly touching an eight month high of 4.00% last week, the yield on the ten year Treasury note has eased some 20 basis points allowing the benchmark thirty-year mortgage rate to settle back near 5.125%. The spike in mortgage rates was due in large part to two massive government bond auctions over the past two weeks that met with lackluster demand on the world markets.

Job growth in March for the first time in eighteen months and solid reports on durable goods orders and consumer spending added to the sell-off in bonds. Over the past week, however, new worries over the Greek debt crisis, and signs the economy may not yet be out of the woods, have lead to renewed demand for bonds leading to the drop in rates from a high of 5.375% last week.  There has been a buzz among lenders and Realtors about Freddie Mac’s recent decision to relax some of their requirements for condos leading to the potential for thirty-year, fixed-rate mortgages being available for some projects that over the past year or so have been limited to bank portfolio programs with shorter fixed terms or larger down payment requirements.

In a nutshell, if a condominium unit currently has a Freddie Mac mortgage on it or if Freddie Mac is the owner of the property, Freddie will waive their typical warranty requirements making condo questionnaires unnecessary and the subsequent problems they bring to light. These properties still require a 20% down payment as none of the private mortgage insurance companies have yet to embrace the Freddie program and the rate is typically a 1/8% to ¼% higher than the standard thirty-year due to Freddie’s pricing adjustment for condos. While this program is certainly not a panacea for the condo market, it does imply a thawing of the secondary market for these properties that has been completely absent for over a year now.

The funding for the USDA’s Rural Housing program has not been renewed and the popular zero-down, first-time homebuyer program is expected to be depleted of funds by the end of April. Unlike similar times in the past where the funding was held up by partisan wrangling or procedural issues, this time it appears there is genuine concern on both sides of the aisle that the entire RD program needs to be revisited. The zero-down payment along with relaxed credit standards has the Administration and Congress worried that RD is being used to circumvent the FHA insured program which currently requires a 3.5% down payment. It is looking increasingly likely that some revamping of the program will be required. Whether that will be a condition of additional funding, or something to be visited later, remains to be seen.

1. Deal 1 Gulf Front Splash Condo for $187k
2. Deal 2 Palm Cove 3/2 for only $124k
3. Deal 3 Super Fancy Tapestry Park Home only $125/sf

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Deal 1

• Gulf front condo in Splash for only $187,000
• 1 bedroom with bunk room and sleeper sofa, sleeps six
• Comes furnished
• Splash has on average 90 percent occupancy
• Covered waterpark for the kids and so much more fun stuff!

Deal 2

• 3 bedroom 2 bath single family home in Palm Cove only $124k
• Perfect for the new home buyer tax credit – but you have to act NOW so you don’t miss out.
• Needs some TLC, but at this price, who cares!
• Gated community with two pools

Deal 3

• Beautiful home in Tapestry Park only $420,000
• Over 3,200 square feet
• Gorgeous stacked stone fireplace
• Enormous closets
• Gigantic master bedroom
• Short sale

1. Deal 1 Riviera Beach Foreclosure 3BD/2BA move in ready for $245,000
2. Deal 2 Panama Dunes Short Sale 3BD/4BA for under $200,000
3. Deal 3 En Soleil Foreclosure 3BD +bunk/3BA for $536,900

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Deal 1

• $245,000
• Just steps to the beach with gulf views from balcony
• New paint and carpet
• Built in 2004 & move in ready!$199,000 short sale

Deal 2

• 2367 sq feet with 3BD plus bonus room on 1st floor and 4 full baths
• Beautiful hardwood flooring and tile throughout, stainless steel appliances, granite counters, upgraded lighting and cabinetry
• Walking distance to beach, close to St. Andrews Park, with community pool, hot tub, and grilling area

Deal 3

• $536,900 foreclosed unit
• Luxurious 2nd floor unit with 2316 sq feet
• 3BD plus bunk room and 3 baths, granite, stainless steel appliances, beautiful hand painted mural in foyer
• 500 sq ft balcony with built in gas grill, great views of gulf and pool

Deal 1:  Foreclosed Bungalow back on the market $284,900
Deal 2:  Short sale in gated lake community for $232,500
Deal 3:  30 A foreclosed property for $409,000

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Deal 1

• 284,900
• 2633 square feet
• Only 108 per square foot
• 4 bedrooms 3 bath
• Lake community of Wild Heron with pools, lake house with Kayaks and canoes and plenty of walking trails

Deal 2

• 232,500
• 2,113 square feet
• 110 per square foot
• 3 bedrooms 3 baths
• Great views of Lake Powell from large front deck in gated community
• Huge back yard with room for a pool
• Palmetto Bluff subdivision

Deal 3

• Foreclosure on 30-A  in Summers Edge
• 409,900
• 1936 square feet
• 3 bedroom 3 bath
• Spacious porches and balconies  in gated community with easy beach access
• Community pool

1.  Treasure Island condo for 255,000
2.  Seychelles Resort for 199,000
3.  Hopetown Lane foreclosed home for $459,000

Deal #1

255,000

1370 square feet

2 bedroom 2 bath with great square footage
Great amenities at this foreclose condo
close to St. Andrews park

Deal #2

199,000

883 square feet

Least expensive condo in the whole complex

1 bedroom with a bunk area and 2 baths

Fully furnished

Deal #3

459,000

2600 square feet

4 bed 3 bath in exclusive neighborhood

Foreclosure

Home has unique high end features!!!!

1. Deal 1 Nautilus Cove Foreclosure 3/2 bath for under 90,000
2. Deal 2 Tapestry Park Foreclosure 4/3 bath for $366,900
3. Deal 3 Hibiscus Foreclosure 3/2.5 bath for $274,900

This week’s features:

The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.

Sterling Reef
329,000 with 1588 square feet
Corner unit with 192 square feet of balcony!!!
Great views up and down the coast
Tile and Upgrades and custom drapes and bedding
Fully furnished

Hot Deal #2

Whisper Dunes
230,000 – 248,000 depending on upgrades
New Construction Villa with over 2,036 square feet
Call and ask about a FREE MOVE IN PACKAGE FOR PURCHASES IN MARCH
Will help with closing cost

Hot Deal #3

Turtle Cove
$149,000 with over 2500 square feet
LAKE FRONT COMMUNITY
House is brand new but needs some work call us for details

Remember, it doesn’t cost anything to work with us if you are a buyer.

Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.

This week’s features:

The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.

• Deal 1- Carillon Gulf and Lake view condo-$495,900
• Deal 2-Tennis Court condo at Wild Heron- $235,000
• Deal 3-Southfields 3 bedroom and 2.5 baths in Southfield-$225,000

Remember, it doesn’t cost anything to work with us if you are a buyer.

Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.

This week’s features:

The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.

• Deal 1- Great Coastal Craftsman home in Golf course community of Wild Heron- $399,000
• Deal 2- Last of the great priced lake front condos in Wild Heron-$229,000
• Deal 3 – Deal 3- Clubside unit right across from The Sharks Tooth Club Club house-$239,900

Remember, it doesn’t cost anything to work with us if you are a buyer.

Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.