Florida Dreams Properties

Addressing your coastal dreams

Beach House on beautiful Panama City Beach


Panama City Beach House

This is THE ONE! Your chance to own a great Gulf front home at an affordable price!! This Fully Furnished 3bdr, 3bth cottage is located on the Gulf and boasts beautiful beach front views. Large master on the second floor has a private balcony overlooking the water, a whirlpool tub and separate shower. Guest bdrm on 1st floor. Don’t miss the two 20×20 decks for afternoons spent enjoying the Gulf breeze!




For more information

Record Low Rates!!

Mortgage rates on a 30 year fixed rate mortgage fell from 4.12 t0 an unbelievable  low of 4.09 this week. We have not seen these lows since 1951.

If your considering refinancing you will be glad to hear that 15 year rates also dropped from 3.33 to 3.30.

However, the concern is who is able to obtain these rates? Banks are requiring higher credit scores to qualify and with such recent economic struggles many have experienced a drop in thier score. And with the pace of resales at an all time low buyers are unable to sell their current property to buy a new home and take advantage of these rates. (raises hand) In addition, many lenders are requiring 20% down for first time home buyers.

So, bottom line – great rates if you can get em’.

Contact your lender today.

Dream Vacation Home

This terrific Mediterranean style 3 story home is fully furnished and vacation/rental ready. Just bring your family or friends and your bathing suit! 6 Bedrooms, 5.5 Baths and many upgrades make this a desirable property. Not to mention the wrap around porches and balconies with either lake views or gulf views with the sound of the surf and gentle, warm, breezes to welcome you. You are close to shopping, a water park, fine dining and of course the beautiful sand beaches and emerald waters. This centrally located house with great amenities including deeded beach access, lakeside pool and gated entrance … Who could ask for more? Make 142 Sandprint your vacation destination.

Contact us today at Florida Dreams Properties –

Jim and Wanda Pitts – 850-835-1001



News Alert! BP caused oil spill…

In case you missed the memo or had questions in your mind regarding who was at fault (insert sarcastic tone) the final results of the government investigation concluded that BP violated federal regulations, ignored crucial warnings, was inattentive to safety and made bad decisions during the cementing of the well beneath the gulf of Mexico.

These finding were the first to identify 7 different direct violations that resulted in the spill.

BP, however, responded by saying “it is time for otherparties to acknowledge thier roles in the accident and make changes to prevent similar accidents in the future”. Way to accept blame BP. Just sayin’.

Loan limits to decrease Oct. 1

Ok so this is bad news, especially for our area where much of the real estate is above these limits. However, I personally (along with MANY other realtors) are protesting this change and have sent numerous emails to our local and state representatives. There is hope that this change will not take place.


WASHINGTON – Sept. 14, 2011 – Fannie Mae, Freddie Mac and Federal Housing Administration (FHA) loan limits shrink a bit starting on Oct. 1, though the Florida impact will be felt mainly in high-cost home areas.

The National Association of Realtors® has protested the increase
, saying it will further limit the ability of Americans to purchase a home.

The U.S. Department of Housing and Urban Development has a searchable database for loan limits, both FHA and Fannie Mae/Freddie Mac, on its website.  To see statewide numbers, select only “Florida” and “county” for a search. Change the dates under “Limit Year” to see either the current rates or the rates effective after Oct. 1.

Fannie Mae and Freddie Mac

The two government-sponsored enterprises run by the federal government drop the maximum home mortgage they’re willing to purchase – to $417,000 – effective Oct. 1.

However, the current higher rates never applied nationwide and only worked in select higher-home-price areas. According to HUD’s website, Florida currently has six city areas with a maximum loan limit higher than $417,000 for a one-family home: Fort Lauderdale-Pompano Beach-Deerfield Beach (current maximum loan is $423,750), Naples-Marco Island ($531,250), Bradenton-Sarasota-Venice ($442,500), Miami-Miami Beach ($423,750), Key West ($729,750) and West Palm Beach-Boca Raton-Boynton Beach ($423,750).

Of the six, four will drop to the new maximum of $417,000; however, two will not. Effective Oct. 1, the Fannie Mae and Freddie Mac loan maximum for Naples-Marco Island will be $448,500, while Key West-Marathon will be $529,000.

Loan maximums are higher for two-, three- and four-family homes.

Since Fannie and Freddie do not buy loans until the sale has closed, many lenders have already started enforcing the new limits.


FHA limits vary by city in Florida. In no area does it go lower than $271,050, however, which is 65 percent of the Fannie Mae/Freddie Mac loan limit. Since many areas already have a $271,050 FHA loan limit – mainly smaller urban areas – a lot of buyers won’t notice a difference.

The FHA national loan limit “ceiling” is 150 percent of the national conforming loan limit. In higher-cost areas, the FHA loan limit lowers after Oct. 1, though not necessarily to the floor amount. In Jacksonville, for example, the current FHA maximum one-family loan limit of $387,500 drops to $304,750; in Miami-Miami Beach-Kendall it drops from the current $423,750 to $345,000; in Key West it goes from today’s $729,750 to $529,000.

For information on other FHA loan limits, check HUD’s website calculation.

Yes, Real Estate IS still a good investment…

Trends in Homeownership

Homeownership began to increase dramatically in the 1990s, reaching 69.2%, a record level in 2004. Experts predict that the rate will decrease to pre-bubble levels over the next few years. However, some say a rate in the lower 60th percentile is closer to the ‘natural rate.’


Home Buyer Demographics


While married couples and those over the age of 35 continue to comprise the largest share of home buyers, single women and men, particularly those under age 35, have been gaining ground over the last decade. In 2010, 20% of home buyers were single women and 12% were single men.

 Additionally, 36% of buyers were under the age of 35 in 2010. Nearly 26%of this demographic has developed favorable views of homeownership over the last six months.




• Despite a decline, home values are still at historically high levels.


• More people own homes now than ever before.


• Mortgage interest rates are at the lowest level in 30 years.


• Property is more affordable now than it has been in 40 years.


• One in three Americans own their homes free and clear.


91.2% of mortgages are current—and only 3.75% are in foreclosure.


87% of Americans who bought a home in the past year expect to easilymeet their mortgage repayment obligations in the next year.


• Two-thirds of Americans say that now is the best time to buy.








Speaking of Hurricanes….

I had considered once before writing about Hurricane safety tips but decided against it since I want you all to buy real estate in this wonderful piece of Florida and I didn’t want to scare you off. But after seeing Earthquakes in Washington DC and hurricanes in New York,  it is quite evident that avoiding natural disasters is pretty inconceivable in the long run so I’m going to go ahead and share some tips.

Here’s what you should have in your supply kit:

  • Flashlights & extra bulbs
  • Battery-operated radio
  • Battery-operated lanterns
  • Batteries (in different sizes!)  
  • Matches 
  • First aid kit
  • Duct tape
  • Rain gear
  • Clock (wind-up or battery-powered)
  • Plastic garbage bags
  • Fire extinguisher
  • Scissors
  • Can Opener
  • Clean clothes
  • Extra blankets
  • Heavy gloves


House Checklist

  • Remove outdoor items
  • Trim dead branches from trees
  • Board up windows
  • Fill gas tanks and extra containers 
  • Move furniture away from windows
  • Store important documents in waterproof containers
  • Get extra cash
  • Extra supply of medicines


And of course non-perishable food and water to last 7 days. And don’t forget pet food.

On a side note we have been very fortunate so far and thankful that Irene avoided us but we keep the many that were affected in our thoughts and prayers.

Surviving the Recession…

Maybe even thriving! Yahoo reports that even with nationwide unemployment still over 9% and a lack of stability in the financial markets, some US cities are “recession proof” as far as real estate goes. I sure am glad to see Destin, Fl on that list! Check out this link for the full article and list of cities.

Cities where housing is recession proof


The Salt Life

Well, I have lived on the Emerald Coast for close to a year now and loved (almost) every minute of it. From the seafood, to fishing, to the beautiful sunsets and afternoons at the beach, it has been all but unbelievable. This week my husband took a week’s vacation from work before the kids went back to school so we decided to use that time to go back to Georgia and visit with family. I must say it was great to see family and wonderful friends, take in a Braves game and visit our old house. However, I missed the thought of going to sleep 10 miles from the white sandy beaches and crystal clear water. I missed the “salt life”.

So now that I “put a little gravel in my travel” its good to be “knee deep in the water” again.

In case your not a fan of country music…let me clarify that phrase for you with 2 of my current favorite songs…

Knee Deep in the Water

Take a Back Road

Rates at record lows…

Mortgage giant Freddie Mac says 15-year fixed-rate mortgages averaged 3.5% this week, a record low, while 30-year fixed-rate mortgages averaged 4.32%, the lowest in nine months and near a record low.

So with record low rates and many sales prices at half of what they were 5 years ago, why would you NOT buy a home in paradise.

Or how about building your dream home with a view like this…

Xxx Bay Loop Rd W, Freeport, FL 32439

More Details on the incredible bay front lot