The Panama City Beach condominium market is showing strong signs of a bottom on several specific floor plans in a number of buildings.  Some floor plans are 10-15% above a bottom set months prior.  Buyers should also look a bit deeper than the numbers.  I would be much more comfortable spend 200k on a nicely furnished two bedroom than purchasing that same floor plan unfurnished, having mold issues, and other damage at 160k.  The sold prices don't always tell the whole story.  Short Sales continue to be a gamble.  There are some impressive sales going thru.  But, for every success story there seem to be four more contracts that took six months simply to fall apart.  We are also starting to see many foreclosures and short sales selling at or above asking price. 

Our remaining developer inventory continues to decrease.  Shores of Panama continues to sell remaining inventory at a natural absorption rate.  Aqua has sold 31 of its

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