patrick.net

I am getting a letter/postcard every week over last couple years where straw men representing institutional buyers asking if I want to sell rental property for cash. Institutions are still buying but not that much like used to be.

Looks like the rents didn't keep rising as extrapolaters extrapolated, but the carrying costs went up "Bigly"

TheAntiPanicanLearingCenter says

Looks like the rents didn't keep rising as extrapolaters extrapolated, but the carrying costs went up "Bigly"

We saw about a 25% drop in our Florida property tax premium compared to last year. Also property tax is flat.

Rent in Panama City Beach is around 2021 levels.

https://www.zillow.com/homedetails/1604-Annabellas-Way-Panama-City-Beach-FL-32407/87634367_zpid/

,

As far as this unit

https://www.zillow.com/homedetails/1700-Annabellas-Dr-Panama-City-Beach-FL-32407/87629985_zpid/

Sold on 1/13/2026 for $232,000

Sold in 9/2023 for $280,000

Sold in 10/2021 for $235,000

Sold in 8/2011 for $139,000

The Panama City Beach townhome's sales price appreciated around 3.75% from 2011 o 2026.

.

https://x.com/i/grok/share/o2geGuohNffX1WocQ6XZOGF82

Good to see rents drop, keeps out the speculators and pushes those who want to leave the state to sell and not rent out.

TheAntiPanicanLearingCenter says

"I'm on a fixed income, besides, this is a concrete and steel building. Our home back in MN, MI, NY is made of wood and..."

Ok but, this has nothing to do with economic conditions.

AD says

As far as this unit

https://www.zillow.com/homedetails/1700-Annabellas-Dr-Panama-City-Beach-FL-32407/87629985_zpid/

Sold on 1/13/2026 for $232,000

Sold in 9/2023 for $280,000

Sold in 10/2021 for $235,000

Sold in 8/2011 for $139,000

The Panama City Beach townhome's sales price appreciated around 3.75% from 2011 o 2026.

.

What’s the HOA fee?

Glock-n-Load says

Ok but, this has nothing to do with economic conditions.

Glock-n-Load says

AD says

As far as this unit

https://www.zillow.com/homedetails/1700-Annabellas-Dr-Panama-City-Beach-FL-32407/87629985_zpid/

Sold on 1/13/2026 for $232,000

Sold in 9/2023 for $280,000

Sold in 10/2021 for $235,000

Sold in 8/2011 for $139,000

The Panama City Beach townhome's sales price appreciated around 3.75% from 2011 o 2026.

.

What’s the HOA fee?

I researched this and it was $420 last year. Now it is $383.

Property insurance is going down in Florida so that may be one reason, as we are paying about 25% less on property insurance in Panama City Beach compared to last year.
.

TheAntiPanicanLearingCenter says

https://x.com/i/grok/share/o2geGuohNffX1WocQ6XZOGF82

Good to see rents drop, keeps out the speculators and pushes those who want to leave the state to sell and not rent out.

We pay about annual premium $1650 for HO-3 property insurance on our Panama City Beach townhome (3 bedroom, 2 bath, 2 car garage) and replacement value of $275,000. We are about a 2 mile walk (via sidewalk) to the white sand beaches and beach park.

Also there is a master insurance for the HOA for our building which is about $1400 a year. So overall $2850 per year for insurance ;

HOA master insurance and our own property insurance total to about 1.1% of our replacement value.