Thanks for tuning in! If you like the backdrop in the video and are thinking of coming to play on the beaches of PCB in 2024, I've included the links to the rental listings of the two condos I shot from at Laketown Wharf: Amber Sol @ Laketown Wharf: whatsupbeachrentals.com/properties/new-amber-sol-at-laketown-wharf-unit-1123/ Your Paradise @ Laketown Wharf: whatsupbeachrentals.com/properties/your-paradise-at-laketown-wharf/ What's Up Beach Rentals partnered with some amazing rental units in 2023, and I can't wait to showcase more on this channel. If you have any question on Panama City Beach real estate or the broader Emerald Coast of Florida, give me a shout. Text me and let's set up a time to chat. Eric Leitten 850.496.1671 eric@emeraldcoastabode.com
I purchased my first condo in Panama City Beach in 2009 I then purchased a second condo in the same building on the same floor in 2018. We live in the one and rent out the second. I was fortunate and got in at a very competitive price on each of them. I’m even luckier that I don’t have a mortgage on either so renting the one totally pays the expenses of both so I feel like I’m living here free. Prices are inflated now. I believe the prices peaked about a year and a half ago and many condos on the market now are asking for that much or more and are just sitting on the market not moving. I think before long people will realize that they need to lower the price to something more reasonable.
I’ve personally seen a decline of about 5-10% in price over the past year. Some buildings have steeper discounts than others depending on the situation. There is a smaller pool of people that can afford the current market, which has put some downward pressure. The right buyer in this market is well financially insulated. There’s more inventory to behold right now for sure.
Absolutely the white beach in the gulf is great. Once you experience this you should never want an east coast beach again. My mother in law as a condo my wife manages. Heading down tomorrow. HOA and maintenance cost gee week ridiculous.
Thanks for watching. Completely underrated beach and at a lower cost than most other coastal markets in Florida. The insurance cost is affecting condos all over Florida. Definitely a tougher market for would be condo buyers. Looking to add some color on this topic with some more content soon.
He hit the nail on the head, we are just starting out in wanting get a rental in destin but im watching as much as i can about the areas. We dont need to make bank on it just not be a negative and allow it to be our vacation home. If we enjoy it over the next 5-10 years, as much as we have vacationing in destin the the last 3 years. We would look to purchase a home to live in and keep the rental for friends and family to visit and rent out otherwise.
Thanks for watching, that’s the current mentality condo buyers have to take. Covering cost should be the goal. There are benefits to having rent pay down your mortgage plus tax benefits. The crux of the decision should be that you enjoy the area and want to spend more time down here. Buying a condo gives you stake in the market and the ability to trade via 1031 in the future. Many that want to retire on the beach make a pre retirement play to get into the market through STR. William, give me a shout to discuss.
I’m interested in Lake worth for a second home and eventually renting it out down the line. I would be a first time condo owner. Would you recommend this? How much are the HOA’s for lake worth for 2024? Does the HOA depend on the size of the unit? What about the state inspection for that condo? Thanks Steve
I’m located in the Florida Panhandle probably about 10 hours from Lake Worth. Every condo is going to have a different expense profile and maintenance history. I’d recommend getting in touch with an agent local to Lake Worth.
