Panama City - Bay County International Airport

Bay County International Airport and Industrial District (Airport Authority) announced today that its airport relocation project is entering the construction phase now that the U.S. Army Corps of Engineers has issued the final necessary federal permit, completing the permitting process. The new airport will be located in western Bay County north of County Road 388 and east of State Road 79 on land being donated by The St. Joe Company (NYSE: JOE).

Autumn Time

Football games and homework, pumpkin patches and leaves beginning to change color -- it's that time of year. You might even find yourself getting out those sweaters at the first mention of a cool-front. Along the Emerald Coast, you won't find much fall foliage or chilly weather, our beaches are still white and the water a memorable emerald green. As if captured in a picture, our award winning beaches keep their beauty into the fall and winter months ahead. We graciously welcome cooler temperatures and fewer crowds, and we eagerly await the commencement of Autumn Tides -- an annual showcase of events organized by the Walton County Chamber of Commerce, Beaches of South Walton. Listed below are special events scheduled in September. Also in this newsletter, the second quarter market report, an update on Redfish Village construction and an introduction to Alys Beach, this month's featured community .

Perfect Weather

Autumn on the Emerald Coast is a magical time. To say the weather is perfect is no exaggeration. Just as the seasons change, so too does the real estate market on the Emerald Coast. The primary goal of this newsletter is to share with you the factors affecting the real estate market in Florida's Panhandle. Each quarter, we will provide you with a market snapshot of real estate sales for this region. Current events play a vital role in the real estate market and it is important to take a moment to evaluate the present. The 2005 Third Quarter Sales Summary displayed below is your most recent indicator of the market conditions for the key regions of the Emerald Coast: Destin, Niceville, South Walton (including Point Washington and Santa Rosa Beach), North Walton (including Freeport), and Bay County (Beach sector). Within each region, we have further sub-divided the sales data into Detached Single Family, Condominiums, and Resi dential Lots. This is information we evaluate on a daily basis. We hope this quarterly review will allow you to follow the market trends and evaluate your own property holdings and potential investments. As always, we encourage you to contact our office to discuss any topic in further detail.