Several months ago, we reported in the HotSpot NewsNote, that state Legislators passed a pilot program allowing municipalities to issue special permits for "doggie dining" areas. Not many moved forward. Now, however, the Panama City Beach City Council passed the first reading of a new law that will allow authorized restaurants to accommodate dogs "in special outside dining areas."
It seems as though several of our council members were approached by local eateries (particularly in the Pier Park area) to establish the permitting process - and why not? Plenty of outside activities ... plenty of sunshine ... plenty of grass ... and increased traffic from the canine lovers of the world!
Yes - there are some strict rules that accompany the new law - but, it should be fun. Who knows, we might even progress to frisbee tosses and obstacle courses - that'd be a BLAST!
Times … they are a changin’! The stock market sucks! Some banks were so overextended – the Fed stepped in and closed them down. Even FNMA and FMAC were in such dire straits that the government had to bail them out. So, waddawedo now?
First – we need to recognize we’re in a recession. It happens. I think the last one was in 2001 (albeit a modest one). Anyone over the age of 50 probably remembers their parents talking about the great depression. (1929-1933). My grandfather had been in America for less than 10 years and was a furrier. To make ends meet, he & my grandmother lived atop their store in a small apartment, worked sales and manufacturing alone and saved what they could. They kept most of their discretionary income in a shoe box, big envelopes and a mattress – after all, nobody trusted banks!
This certainly is NOT a time to keep money under your bed, in a mattress or buried in the backyard. If you’re one of the lucky ones who has some “ready cash,” it’s time to buy if your credit’s okay. Especially real estate!
Whether it be a vacation home or vacant land for use or sale at a later date. When the recession ends (economists are predicting this will be in the not too distant future), the value of real estate will rise again as it always has.
Many of the folks we come in contact with feel there’s no better time to start building equity in real estate … to own a little piece of this earth. Only one problem, many of them live in urban sprawls, like Atlanta, where the pace is quick, the traffic unbearable, and the prices outta sight! So, what are more and more of these folks, unhappy with the stock market, starting to do? Contact WealthCreation in an effort to buy a place outside the city… near the coast. Not vacation homes or rental properties alone – but – vacant land as well. Historically, vacant land has proven to be a valuable part of balanced portfolio. And, in today's market - vacant land is VERY affordable!
Over the past year, the number of homes and land bought for investment purposes has risen and the number is still growing. While some of WealthCreation’s sales have been due to increased speculation, market analysts believe that both first time home buyers AND aging baby-boomers are buying away from the urban sprawls. Their options? Buy a summer home, vacation rental or plot of land where they plan to retire.
What should you look for? (1) Know your market. Talk to your Personal Real Estate Consultant (that’s us!). Is the area growing? What are the comps? What type of appreciation can “reasonably” be forecasted in today’s market? (2) Know what extra costs you may face. In addition to property management fees, don’t forget you’ll also pay property taxes and, in some cases, community association fees as well. Adjust your financial calculations accordingly. (3) Ask questions about what you can expect should you decide to rent the property. Not everyone will have family or friends close by to watch over and help with their rentals. Property management companies charge as little as 5% or as much as 50% depending on the service provided and property location. B-I-G difference!
Successful investors, with full lives, face the same frustrations and hurdles as everyone else. The difference is the way they handle their “indecisions.” Rather than feeling immobilized by their worries, successful people conquer them. They know “You Can Make Money or You Can Make Excuses – But – You Can’t Do Both!” After all – according to Dr. Richard Carlson, courage is best described as being afraid and “doing it anyway.”
Make this New Year Prosperous. Resolve to Step Up…Ask Questions…Get Involved…Make Reservations … Decide … & as Nike says … “Just Do It! “
This year will be a first. Pier Park will be closing their streets to vehicular traffic. Margaritaville, in conjunction w/businesses owners and marketers at Pier Park, will host a street festival complete w/live music, food, stilt walkers, face painters, and other festivities beginning at 5:30 PM New Year's Eve. The Beach Ball Drop will occur at midnight coupled with a fireworks display over the Gulf of Mexico. Simon Group marketers are hoping to make it an annual event. I, for one, intend 2 go. C ya at the Park!
Over the past year or so, foreclosures have had an unintended effect on renters ... their eviction. Homeowners, looking to get every last dime out of a sour investment, rent their homes ... the owner doesn't pay the mortgage ... never divulges, to the unsuspecting long term renters, the home is in foreclosure proceedings ... then ... renters get served notice they've got 30 days (sometimes less) to vacate. No reprieve! Well, now, it appears, there IS a reprieve on the horizon.
FNMA and FMAC are finalizing a plan to help renters stay in their homes even if the owner enters foreclosure. Under the new plan, renters, who show they can afford the rent, will sign a new lease with FNMA or FMAC while the property is up for sale.
While to us laypeople this policy makes perfect sense ... you have to wonder who, at these quasi-governmental agencies, thought it up, presented it and sold it to their superiors. In the 28 years I was associated / employed with the Federal Govt ... they were NEVER this accommodating! All I can say is - it's about time! I guess some negatives DO produce some positives.
Last year, if your credit score was “tarnished,” the Federal Housing Administration didn’t care. You could obtain a house loan credit score “sight unseen” … not any more. The financial problems on Wall Street coupled with the housing crisis have, as most Americans know, forced lenders to tighten the credit reins. Never before has a good FICO Score been so important. It takes time to build up a credit score. And you need to remember that NO ONE can look out for you better than YOU can!
Check your credit. Get your free annual credit reports . Pay attention to mistakes – get them corrected.
Growth is bustling in Panama City Beach, but the area’s beauty remains unspoiled. Once a tiny, lesser-known, rural area, Panama City Beach, Florida today is well known for its sugar white sandy beaches, emerald green waters, lagoons and rivers, venues for recreational boating, sailing and fishing. What makes folks want to come back time and time again is the reality that still much of the area is undeveloped and, oh, so pristine. Thanks to the State of Florida, Panama City Beach enjoys neighboring St Andrews State Park that includes picnic pavilions, camp sites, dedicated reefs (enhancing one’s snorkeling and scuba diving experience), restrooms, showers, a boat launch, piers, a bait shop and a dedicated venue for shell collectors, and Shell Island, accessible only via the connecting waterway by boat. If you’re into fishing, you can wet your line in both fresh and salt water in the Panama City Beach area. With any luck, you’ll reel in bonita, king mackerel, speckled trout, mahi-mahi, and/or pompano. Both off shore boat excursions and stationary pier fishing are available. Panama City Beach boasts outstanding restaurants, antique shops, flea markets and art galleries with more businesses relocating here everyday. The area lies between the planned paradise development Seaside (the location of the 1997 hit motion picture “The Truman Show”) and Apalachicola (home to the BEST and MOST RENOWNED oyster beds in the State). Once you have experienced Panama City Beach yourself, don’t be surprised if it sneaks into your mind long after you’ve returned home. Pristine beaches, salt air, quiet days and gentle breezes have that legacy.
Do some homework and your research will show you Panama City Beach is where many Americans are moving and real estate, although tempered with today's market, is still projected to boom! This “hot little town” not only offers everything from good education to affordable housing, but a solid military presence (NAS Panama City and Tyndall AFB) and a growing job market as well. Most investors, retirees and job seekers hunting for the right town in the sunshine State are seeking an area capable of providing a tempered lifestyle, warm weather, excellent hospitals, crystal clear water, and distinct weather seasons. Panama City Beach has it all!!
According to Renee Rackett, Broker/Associate WealthCreation, "As more people are exposed to this area through vacationing, more want to make a permanent investment by buying a second home or condo. Armed with disposable income, these individuals are turning to the Florida Panhandle and Panama City Beach. The coastal market is shifting. Destin, San Destin, and Perdido Key buyers are heading east. So, shoulder markets, such as Panama City, are now benefiting from buyer’s hunger."
We believe knowledge and information is power – so, we try to stay in contact with you … our buyers … to keep you up to date on the happenings in this area. If you haven't been here lately ... you haven't been here! Happy Holidays!
A long range development plan for 55,000 acres in our local community area could include as many as 30,000 residential units. The Bay County Commission approved a request from the Knight Family Trust to move forward with the development of a "sector plan" for a property that extends from a beginning point intersection of Hywy 20 and Hywy 79, Eastward to the intersection of Hywy 20 and Hywy 77; then North to Hywy 278; then, back West again -back to Hywy 79; then South (to complete the loop) at the point of beginning. Florida Legislature allows only 5 such "large area sector plans" state-wide; so, this is a distinct opportunity for our area. This, the initial meeting, is designed to provide a broad brush plan to the public ... private citizens ... local govt officials ... and to any concerned agencies. It affords citizens the opportunity to view proposed plans to see where residential and business development might take place as well as conseravtion set-asides. This is the 1st step in a long process!
Like its name suggests, Donut Island sells all manner of donuts: plain, glazed, sprinkled, blueberry, coconut, devils food, iced and sour cream. Donut Island's gourmet-topped donut selections include The Southerner (caramel glaze, pecans and coconut), the Island Colada (vanilla glaze, pineapple, coconut and cherry) and the store's version of the Tiramisu, an Italian dessert. Located just outside the main gate of Naval Support Activity Panama City, Donut Island sits among many other fine food eateries, a "wine boutique" and just down the block from WealthCreation's main office.
Simon spokesman Les Morris said this past week that two new restaurants, Red Robin and Guy Harvey's, are scheduled to open in February 2009. Other retailers scheduled to open at Pier Park before the end of the year include Nike, AT&T, Crocs and Emerald Coast Mirror Maze.
Located next to Panera Bread (facing Back Beach Road), Baja Grille's food features a Southwestern flavor with an Asian fusion thrown in. Scott McGlauflin, former corporate chef for Tampa's Columbia Restaurant Group, said Baja's signature dish is its Baja Tower, which features two tournedos of filet surrounding stacked baja crab cake served with a citrus demi-glaze.
It's been said, "With businesses comes growth". If so; in the face of economic adversity, Panama City Beach continues to grow. As we reported in last month's HotSpot NewsNote, a new donut shop opened on Thomas Drive; a new "wine boutique" as well. Hooters moved from it's 23rd Street location to just outside the Naval Support Activity's main gate accompanied by a Burger King, a Bruster's Ice Cream, several other eateries and, of course, the La Quinta Inn. On the other side of town, many of you will remember, several new businesses opened at Pier Park. Well, as of this morning, a few more companies have announced their intentions.
Quantic Engineering and Logistic company has established a new subsidiary, Quantroniks Design & Manufacturing Corp. The new company will specialize in equipment control and monitoring systems, prototype fabrication, manufacturing, ship electrical integration and shipboard Ethernet and fiber optic LAN design. (Almost too high tech for me to BLOG about much less FULLY understand). Additionally, for the children (and the young at heart), Pier Park's welcoming a new business. Emerald Coast Mirror Maze and Lazer Craze opens this Friday. The store uses lights, mirrors and sounds to allow visitors to bend and turn through laser beams. (Sounds pretty neat!)
