This month in Panama City Beach, FL there are 1,110 condos avaiilable for sale. Wow, that is a lot of inventory. Of these the lowest priced condo is $37,900 for 480 square foot of space and the highest price condo in Panama City Beach today is $1,400,000.
Of these 1,110 condos for sale there are 738 of them that are directly on the Gulf of Mexico. The lowest priced Gulf Front condo is $62,000 and the highest priced condo is $1,400,000.
If you are looking for a condo in Panama City Beach, know this.......not only must you qualify for a mortgage on a condo, but the complex must also pass certain criteria in order for a lender to back a loan. For instance, it cannot have more condos in default than it does have paying condo owners. Condos require at least 25% down, strong credit, and a complex that is healthy.
This is where my local knowledge of the market comes in handy. I know which condos to suggest as a good buy and which ones to avoid. Work with an Accredited Buyer's Representative and a Certified Residential Specialist when you buy.
By the way, now is an EXCELLENT time to buy.
Kelly Klein, Lifeguard Real Estate, Inc.
Broker / Owner