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 for a while -- a little breathing room. Last week, the FHA, the federal agency that insures low-down-payment home loans for private lenders, said it was relaxing its building underwriting guidelines as a way of helping the struggling sector ride out the downturn. The move could help boost sales in condos by making more FHA mortgages available to borrowers.   (Source: Miami Herald)

Other articles are suggesting more trouble ahead:

New FHA Regulations Spell Trouble for Beleaguered Condo Industry

As of November 2, 2009, buyers in the market for a condominium may find fewer mortgage options available to them; strict new regulations set to take effect will prevent many buyers from qualifying for FHA-backed mortgages on condominium properties. Mortgage lenders and real estate agents have expressed grave concerns about the chilling effect of these new rules, which are still under review by the FHA. (Source: 1888PressRelease)

The new underwriting guidelines they are likely to affect areas in different ways.  Regardless, Most of Panama City Beach's Condo market will not see a measurable impact.  Most of our condominiums are second homes or investment.  There aren't that many people looking for a gulf front condominium as a primary residence. 

There are a handful of non gulf front condominium projects that could benefit from new FHA underwriting guidelines.  My website seldom covers these projects.  For the Panama City Beach condominium market to be affected by new underwriting guidelines, they would need to come from the larger secondary market.  We have not seen any condominium lending products from this group in some time.  The majority of the loans written on condos over the past 18 months were provided by banks with in house products.