Well, not exactly.  Tropic winds actually has some of the best financing available without any of those annoying 1% points upfront, but we will get to that later. The secondary market (the people who actually buy the mortgages from the banks you loan from) has added Tropic Winds to their list of condos in Panama City Beach they will not finance. Our current list includes:

Laketown Wharf
Shores

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Shores of Panama in Panama City Beach offer reduces prices again.  You can see a complete list of the Shores of Panama Phase I and II price list here.  Shores of Panama has completed Phase I, Phase II, and the amenities.  The resort amenities include 2 full service spas, 2 Tiki bars, a 14,000 square foot lagoon style pool, an additional indoor pool, gym, and reception desk.  Click here for a full

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 Real estate condominium re-sales in Panama City Beach were flat in January when compared to January of 2008.  Eight of these sales were a direct result of the Origin at Seahaven auction.  Twenty-six condos sold in 2009, compared to the eighteen (non preconstruction) sales the prior year.  Sixty-six additional condos sold in 2008 were a result of preconstruction closings at Tidewater.  Marina

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 In January the loan programs for condos tightened standards again.  If you are looking to purchase a condominium in Florida as a secondary residence, many programs have changed.  If that wasn't enough, there are entire condominium buildings that banks are refusing to write loans for.

There are no more loan programs with 10 percent down.  The 30 year fixed rate mortgage programs have also

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Silverton Bank was the only bidder that showed up to the Shores of Panama Auction on March 5th.  Silverton submitted the highest and best offer for the property in the total amount of $68.7 million.  The following day the Bankruptcy Court for the Northern District of Florida approved the sale.  Now Silverton Bank holds ownership to the outstanding units in Shores of Panama phase II free and clear

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And then there were none.  Tropic Winds marks the end of preconstruction condominium projects in Panama City Beach for some time to come.  With Tropic Winds' CO (certificate of occupancy) being issued this week, we now have no more resort style condominiums under construction.  Some could argue that Island Reserve and Cabana Cay are still building out and will be the last two official

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The United States Bankruptcy Court for the Northern District of Florida Panama City Division ordered the scheduling of an auction and a follow up hearing to approve the sale for Shores of Panama.  This will be a bulk purchase auction held on March 5, 2009 at 10 AM EST.  Initial bids must be received from Qualified Bidders by 4:00 PM CST on March 4, 2009. 
Qualified Bidders must deliver $100,000

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It has now been roughly 6 weeks since the Origin at Seahaven absolute auction. According to my review of Bay County Records, Origin at Seahaven sold twenty developer owned units as a direct result of the Auction. Hours after the end of the auction the sales boards showed twenty-seven units under contract. All contract holders had fifteen calendar days to walk away from there contracts without

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Real estate condominium re-sales in Panama City Beach were slightly higher in December when compared to December of 2007.  Thirty-four condos sold in 2008, compared to the twenty-seven (non preconstruction) sales the prior year.  Thirty additional condos sold in 2007 that were sold as a result of preconstruction closings at Tidewater.  Origin at Seahaven put roughly 27 condos under contract

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The Panama City Beach condo market realized its second bulk condominium building purchase today.  Marina landing closed the fifty four remaining developer units today.  Marina Landing condominium stands sixteen stories and holds eighty seven bayfront units. 

We have had bulk buyers looking at Panama City Beach condominiums for several years now.  In most cases it becomes a three party negotiation

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