This is wordy, sorry.
As a writer and someone who has an extensive real estate background in Panama City Beach, I would definitely agree Panama City Beach is a good place to buy now. As for owning and holding out, it largely depends on when you bought and (obviously) how much you're in.
I firmly believe that we've gotten very near the bottom of the price fall, generally speaking, but as for specific product, there is still some disparagement - from the short-sale and foreclosure market.
Some property types, like condos in Splash Resort (strong sales history that is driven by high rental success) are, in fact, seeing some appreciation here, although consistency is difficult to gauge with some sporadic final sales numbers (again, from short-sales and foreclosures).
But other areas where there is a higher concentration of similar properties (like Emerald Beach or Tidewater), pricing still seems to be doing some stabilization.
However, in other areas, like the gulf-front home or townhome market, with rentalable properties that are in great shape, the deals are very few and far between, if even existant.
BUT THIS CARRIES TRUE TO SOWAL.
All of the reasons PCB seems like a good place to own/buy/hold-a-few-years applies to the 30A and South Walton area.
From the perspective of rental velocity and performance, tourism is literally booming right now. And it's not a "boom" that leads to a bubble popping. I firmly believe we are seeing the results of years of pent up demand for a full complete destination/vacation experience and an area that is truly offering just that.
This increase in tourism activity directly correlates to real estate sales performance as more and more people are buying with the anticipation of offsetting their cost of ownership with rental revenue. And if it doesn't make sense for them to buy (revenue, weighted with personal use, compared to cost of ownership), then they won't buy.
The last couple years, the final value pricing has to correct itself to a point that the "make-sense" equation would work.
Speaking into long term rentals, that's a market that seems to be on fire right now as well. Last summer when looking for a 4 bedroom house for my family along the 30A area, it seemed like each time we found "the place", it was gone before I could get back with my deposit. There are a lot of good families making good money that for one reason or another just want to rent, and it's creating a scarcity problem.
