Kajun, PC Property

[phatdaddy]

I saw where you posted about PC property on the FS site. I have a friend in S Carolina who is looking to move here in 15 months and he has found the best deals in the forrest park area.(off of 23 rd street) 6 months ago they were asking 240 & now some of the same property is less than 200. he said it is still slipping down. Those houses were built in the mid 60's on slabs with updated wiring, plumbing, etc. I live in the cove area where the housed were built in the 50's off grade with old wiring & plumbing. most need major upgrade to quailify for homeowners ins.keep looking its getting a little better.

[willy]

Where are those areas your talking about? Sounds interesting.

[phatdaddy]

willy, we're in north florida on the gulf coast. one hundred miles east of pensacola. Panama city fl. I think kajun is moving here and was looking for a house. It wasa relative bargin 5 years ago, but then the market went crazy. I think it is beginning to level out a little. The killer is homeowners. mine has gone from $850 to $1400 a year, I reup in aug and my agent says to expect it to be $3500. That is on $145,000. worth of coverage.

[Kajun]

thanks for the info phat....i just closed on my house a couple weeks ago here....paid off my truck and to be honest it feels great not having any debt , like a cement slab lifted off my chest lol so i'm thinking about just renting when i get down there until i can get a first hand look at the market instead of speculating from 1000miles away, alot has changed since i lived there from 98 to 2000, also will give me time to find a place in the off season than trying to find a house in mid summer....i search panamacitymls.com everyday though looking at houses and stuff.....it seems i can get more of a house by renting there than buying ...

i'm also worried about the insurance there...seems its either hard to get insurance or they charge outrageous prices.other things that are on my mind is will i stay in PC after i retire in 09? if not no use in buying a house for only a couple yrs.

if i can find me a 2br house to rent for 800-900 that has a garage and enough room to park atleast 3 boats..i think i'll be happy with that lol

[phatdaddy]

If you think you are only going to be here for a coupla years, I would definitely look at renting. I have a rental house that i was renting for 375 a month. I am in the process on doing a remodel on the kitchen & bathroom so my daughter can live in while she goes to Gulf Coast. When i put it back on the market, the taxes & ins will be 400 a month. I am around town a lot, so if i hear of a good deal, I'll holler.

[randlemanboater]

Sounds like with the way the housing market is and the way insurance is, you are best off to rent.

[Kajun]

thats what i'm thinking but...there is a potential to make some serious cash on a house in PC with this new international airport they building.....it will basically open up this forgotten area of florida to development,more tourism...but it could flop on its face, who knows...i dont know if i feel like gambling at the moment lol

[phatdaddy]

There is an article in the paper today about some developers that bought a tract of land on the beach to develop condos. They paid 17 million. sat on it for 3 months and sold it for 40 mill. that is some serious flipping. Most of the building is on the beach and between us and destin. the house next to me is for sale. it was bought in 04 for 175000. they are asking 320000. a year ago it would have gone in 2 or 3 weeks. it has been on the market now for 3 months.
this market is just like surfing, this swell has broke, gotta wait for the next one.

[msbhammer]

Hey Phat. W. Foster will be tracking you down on those rails for the hatch that you still might have lying around.

[phatdaddy]

too much powered sugar & sprinkles, hammer..... I don't have any spare rails. my originals are still on the deck. Did you ever get your charging problem squared away? I have the donor 83 150 merc that i offered parts off of.