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 does not mean that market recovery is occurring. That being said, we are seeing signs of price stabilization in some areas. The sales volumes for March, April and May of 2011 are much higher than they were in 2010. In March 2010, 71 condos sold but in March 2011, 93 sold. April is even better, with 107 condos sold this year compared to 77 the year before. The 118

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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 include five-year ARMs and 15-year or 30-year fixed loans.

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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 area. Vision Bank, Regions Bank and Compass Bank all have programs available for many local condominiums.
Now, two more condominiums have made the banks' "No interest in lending in this building list."  Calypso and Splash Condominiums have been added to the properties for which bank financing is not available. Association litigation led to Calypso's inclusion, but Splash was added

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