Panama City Beach Real Estate entries

Panama City Beach August 2011 Market Update

Chris — Sat, 20 Aug 2011 16:06:26 +0100

Condo sales in Panama City Beach in 2011 started out strong with steady increases in sales through May, culminating in a high of 118 units sold that month, making this the start of a solid year for condo sales in the area. This has not carried forward into the traditionally strong month of JunRead More...

Panama City Beach Florida June 2011 Market Update

Chris — Wed, 22 Jun 2011 19:37:28 +0100

In comparison to the two previous years, condominium sales are clearly up. The graph below compares sales volumes for the past three years, and in 2011 we see significant improvement. This improvement in sales volume doRead More...

Fannie Mae approves loans for Calypso & Splash condominiums

Chris — Sun, 12 Jun 2011 00:57:07 +0100

Due to the economic downturn, lending criteria for condominium financing had become more stringent. However, loans have been readily available to qualified buyers who have built strong credit histories and demonstrated the ability to provide down payments of 20 to 30 percent. These opportunities incRead More...

Shores of Panama auction

Chris — Wed, 30 Mar 2011 07:00:00 +0100

Let's start out by answering the question most people will be asking. No, the Shores of Panama auction is not for individual units. It is a bulk sale offering.

CB Richard Ellis is handling a sealed bid auction for the remaining unsold developer inventory at the Shores of Panama condominiuRead More...

Market Update - Recovery, What Recovery?

Chris — Thu, 24 Mar 2011 04:34:29 +0100

Each month we hear stories about how the real estate market in Panama City Beach is bottoming. We are continually told that it is ready to bounce back at any time. How much longer are we going to listen to this while watching priRead More...

Owner exposure to condominium associations and their fees

Chris — Sat, 15 Jan 2011 05:01:38 +0100

This article answers the second part question asked in the article " What expenses come with a condo?".

Second part of the question:

What about association assessments for renovation, etc. What exposure does an owner have to their "whims". I would lRead More...

What expenses come with a condo?

Chris — Wed, 12 Jan 2011 21:04:15 +0100

Someone asked a very common question yesterday and I thought it would be best answered in an article. Yesterday I was asked:

"Chris, What are the average on going expenses such as taxes, insurances, association dues. What about association assessments for renovation,Read More...

Origin at Seahaven bulk purchase

Chris — Tue, 11 Jan 2011 08:00:00 +0100

The remaining developer inventory at the condominium, Origin at Seahaven, was purchased January 4, 2011. The remaining 118 residential condominiums held by SEAHAVEN PHASE 1, LLC were sold to CORTLAND LOAN SERVICES, LLC.

Panama City Beach 2010 Market Summary

Chris — Wed, 22 Dec 2010 06:35:39 +0100

Initially, the 2010 Panama City Beach real estate market was stronger than in 2009. However, potential buyers became worried about the possibility of the Deep Horizon Oil spill, so sales declined in April and remained depressed uRead More...

Panama City Beach Florida October 2010 Market Update

Chris — Fri, 22 Oct 2010 17:52:38 +0100

When you look at the Panama City Beach condominium sales for the past two months, results are mixed, but encouraging. Although the year-over-year numbers for August were down, they were up for the month of September, 2010. Most analysts agree that this trend could be attributed to the resolution of the Deep Water Horizon oil spill disaster and the lessening of fears

concerning Panama City beach contamination.

In August, 2010, 58 condominiums were sold compared Read More...

Splash and Calypso - No Loans

Chris — Mon, 18 Oct 2010 15:39:10 +0100

Financing a condominium in Panama City Beach can be quite a challenge these days, a situation that has existed for some time now. Beginning early in 2009, condominium lending fell into a sharp decline. At present, there are apparently just three banks offering consistent loan programs for condominiums in this Read More...

Panama City Beach Florida August 2010 Market Update

Chris — Mon, 16 Aug 2010 02:52:30 +0100

Condominium sales in Panama City Beach were down this year in May when compared to May of 2009. Sixty-four condos sold in 2010, compared to the Seventy-two sales the prior year. June seamed to pick up the slack with a year over year increase. Seventy-two condos sold in 2010, compared to the Fifty-nRead More...

Panama City Beach Florida May 2010 Market Update

Chris — Fri, 21 May 2010 14:44:08 +0100

Real estate condominium re-sales in Panama City Beach were up year over year in March when compared to March of 2009. Seventy-one condos sold in 2010, compared to the Fifty-two sales the prior year. April also saw a year over year increase with seventy-four condos selling in 2010, compared to the Fifty-nine sales the prior yearRead More...

Panama City Beach Remaining Developer Inventory April 2010

Chris — Thu, 01 Apr 2010 07:00:00 +0100

In the September 2008 Market update I reported the outstanding developer inventory according to Bay County Records. I thought I would take another snapshot of the market. Many things have changed. Some of the inventory has changed hands. I am now simply going to refer to the units as "Remaining Units". Read More...

Panama City Beach Florida March 2010 Market Update

Chris — Mon, 29 Mar 2010 00:28:18 +0100

The February Market update explained how the market is showing strong signs of a bottom on several specific floor plans. This is not the case for the entire market. A number of buildings built at the tail end of the preconstruction boom are still seeing prices decline with little or no absorption rate. SeveraRead More...

Panama City Beach Florida February 2010 Market Update

Chris — Fri, 12 Feb 2010 06:32:08 +0100

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 pRead More...

Panama City Beach Florida December 2009 Market Update

Chris — Wed, 02 Dec 2009 08:00:00 +0100

As prices come down, sales are increasing in the Panama City Beach condo market. We have seen three consecutive months of increases sales compared to the prior year. We are starting to see signs of a clear bottom in many condominium buildings and floor plans.

Real estate condominium re-sales in Panama City Beach Read More...

New FHA Underwriting Rules for Condos

Chris — Thu, 12 Nov 2009 23:36:21 +0100

Several sources across the internet are posting articles about new FHA underwriting guidelines. The specifics of this new guidance can be found here (FHA Temporary Guidance for Condominium Policy). Different sources are posting articles with different opinions on these changes. The Miami Herald is claiming it could boost the condo market:

FHA Moves to Boost Condo Market

The Federal Housing Administration is giving the condo market something it hasn't had forRead More...

Details of Southwest Airlines and St. Joe “Partnership”

Jason Koertge — Mon, 02 Nov 2009 08:00:00 +0100

It was made quite clear by Bob Montgomery, Vice President of Properties for Southwest Airlines, that if it weren’t for St. Joe, Southwest Airlines wouldn’t be coming to Panama City. The discussions between St. Joe and Southwest Airlines began over a decade ago. One of the things that was explained to me a short while ago was that Southwest Airlines can go where ever they wantRead More...

Southwest Airlines adds service to Panama City Beach

Chris — Wed, 21 Oct 2009 07:00:00 +0100

Southwest Airlines Co. announced Wednesday it will begin service to Panama City new International Airport next May.

Panama City will be the discount carrier's seventh location in Florida. This is in addition to New York, Boston, Milwaukee and Minneapolis added earlier this year. This expansion continues Southwest eliminates other flights and shrinks capacity overall due to the slump in air travel.

CEO Gary Kelly made reference to the said the expansion to northwest Florida was doRead More...