Stay informed so you can make better real estate decisions

The 30A & PCB real estate markets are reacting differently during the pandemic. We are running numbers DAILY for both markets to help you better understand. 

Covid-19 Real Estate Update

July 28, 2020 - Episode 12

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May 1-4, 2020 Openings

Beaches in both Walton County and Bay County opened on May 1, 2020. There are a few differences in each county's ordinance, but for the most part, the beaches are open.

On April 30, 2020, Florida's Governor announced rules for re-opening restaurants and retail. These rules take effect on May 4, 2020.

May sets up to be an interesting month for real estate considering the above. Check out our videos and the rest of the page for more information and analysis. 

Real Estate Showing Signs of Recovery

Beaches, restaurants and retail are open as of May 1, 2020. All have some sort of limitations or restrictions but they are open. It will be interesting to watch the real estate numbers in May as a reaction to the openings. We continue to track the number of NEW CONTRACTS being written in Panama City Beach and on 30A to understand the health of the real estate market. Like it sounds, a "new contract" is an agreement between a buyer and owner for the purchase of real estate. As these numbers continue to improve, so will actual closings/sales along with the health of the real estate market. 


Social Distancing Leads To Innovation at the Real Estate Closing Table

Social distancing guidelines have forced all of us to make adjustments at home and at work. In June of 2019, Florida Gov. Ron DeSantis opened the door to let real estate closings become more innovative. Remote Online Notarization (RON) was made legal in 2019 but with no real demand for it, this new service hasn't taken off...until now.

Title companies and closing agents that become properly certified and use approved software can now notarize documents remotely.

This is BIG for our local real estate market since so many of our buyers and sellers live in other areas. In the past, buyers would either have to plan a special trip into town for closing or, receive a thick package of closing documents then track down a notary on their own and return the package ON THE SAME DAY.

Sellers were forced to do the same thing.

Now, the right closing agent can handle EVERYTHING electronically. This will save a lot of people time, money and aggravation at their net closing.

READ HOW IT WORKS HERE

The Duran Group is excited to be involved in the FIRST RON closing in the panhandle of Florida. The sellers are caring for their elderly parents and want to avoid contact with others as much as possible. They are selling a condo and are very excited to be able to sign AND NOTARIZE closing documents electronically from home.

"Showings" Show The Way


We can track how many actual showing appointments are being set on a daily basis. Since the beginning of the coronavirus pandemic, people are getting out much less so there are far fewer "showing appointments." We are tracking this in real-time HERE. Once we start to see more showings starting to take place, we know we will soon see more contracts written and ultimately more closings.

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