Florida Insurance Commissioner Kevin McCarty announced an approval of State Farm Insurance Florida's withdrawal from the state, but subject to several major conditions ( http://www.floir.com/pdf/SFWithdrawalPlanOrder.pdf):

· State Farm Florida shall surrender its Certificate of Authority within 30 days, which is needed to write or renew policies.

· State Farm shall not place any of its policies in Citizens Property Insurance Corp.

· State Farm shall allow its agents to place property insurance policies directly with other private insurance companies.

· State Farm shall issue pro-rata premium refunds to any policyholder seeking to voluntarily cancel or non-renew, and not short-rate the return premium for any policy in any line, including automobile, boat or property insurance.

• State Farm shall consider all offers to buy or assume all or part of its business.

CREDIT WHERE CREDIT IS DUE

First-time homebuyers have exactly 285 days to buy a home if they want to pocket $8,000 tax-free. It's not long. Every homebuyer has unique circumstances, however, and specific questions. The National Association of Home Builders (NAHB) has launched a consumer Web site with detailed information and an extensive list of frequently-asked questions.

The homebuyer resource is found at: www.federalhousingtaxcredit.com

Good luck with all of this and please let me know if I can help you in any way sort trough all of this. I know buying your first home is overwhelming....I was there not too long ago!

The following pictures from February 2009 show the progress being made by the construction team on the new airport.

I am so excited about the new airport that is coming to Bay County, I would like to share a great site that has all of the up to date info on the construction and progress.

http://newpcairport.com/

In January 2008 construction began on the new Panama City - Bay County International Airport, the first international airport built in the U.S. since 9/11.

Estimated Opening:( from Today)

Here are some recent photos:

ORLANDO, Fla. - Feb. 12, 2009 - Sales of existing single-family homes in Florida rose 13 percent in fourth quarter 2008 compared to the same period a year earlier, according to the latest housing statistics from the Florida Association of Realtors® (FAR). A total of 30,163 existing homes sold statewide in 4Q 2008; during the same period the year before, a total of 26,635 existing homes sold statewide. It marks the second consecutive quarter that Florida has reported higher existing home sales; sales activity rose 5 percent in 3Q 2008 compared to the same period the previous year, according to FAR.

Florida Realtors also reported a 3 percent gain in statewide sales of existing condominiums in the fourth quarter compared to the same time the previous year. This marks the first three-month period that has noted increased statewide sales in both the existing home and condo markets compared to year-ago levels.

Twelve of Florida's metropolitan statistical areas (MSAs) reported increased sales of existing homes in the fourth quarter compared to the same three-month-period a year earlier, while eight MSAs showed gains in condo sales. A growing number of local markets have reported increased sales activity over the past few months, according to FAR.

The statewide existing-home median sales price was $161,200 in the fourth quarter; a year earlier, it was $216,600 for a decrease of 26 percent. According to industry analysts with the National Association of Realtors® (NAR), there remains a significant downward distortion in the current median price due to many discounted sales, including a large number of foreclosures. The median is a typical market price where half the homes sold for more, half for less.

To gain insight into current trends in Florida's real estate industry, the University of Florida's Bergstrom Center for Real Estate Studies conducts a quarterly survey of industry executives, market research economists, real estate scholars and other experts. According to the fourth quarter 2008 survey, respondents' increasing concerns about the economy have dampened the investment outlook for various types of properties.

However, one positive sign is the recent dramatic increase in refinancing with the availability of 5 percent mortgage rates in mid-December, according to Dr. Wayne Archer, center director. If additional programs are put into place that create 4.5 percent Federal Housing Administration mortgages for people who have difficulty making payments, he said, it will do even more to stabilize the housing industry.

In the year-to-year quarterly comparison for condo sales, 8,374 units sold statewide for the quarter compared to 8,098 in 4Q 2007 for a 3 percent increase. The statewide existing-condo median sales price was $136,400 for the three-month period; in 4Q 2007, it was $190,400 for a decrease of 28 percent.

Continuing low mortgage rates remain another favorable influence on the housing sector. According to Freddie Mac, the national commitment rate for a 30-year conventional fixed-rate mortgage averaged 5.86 percent in 4Q 2008; one year earlier, it averaged 6.23 percent.

The outlook for housing and the economy remains clouded despite improved affordability conditions, according to NAR's latest industry forecast. "For a sustainable housing market recovery and, thus a sustainable economic recovery, we need a significant housing stimulus and mortgage availability for qualified borrowers," said NAR Chief Economist Lawrence Yun.

Source: www.FloridaRealtors.org