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 June, which may well prove to be a good thing. Normally, sales in June and September surpass the previous month but this has not materialized in 2011. While overall sales volume exceeds 2010 figures, June and July sales exhibited a downward trend with 94 units sold in June and only 67 selling in July.

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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 prices drop quarter after quarter? Potential buyers should not be focusing on the overall market. They should instead be looking at the specific condominiums they are interested in. On the whole, the real estate condominium market in Panama City Beach continues to fall. The average price per square foot of a 700 square foot

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We will start hearing more about condominium associations in Florida this coming year. Let's get a head start on understanding it and what to pay attention to and what to look out for. Panama City Beach is going to have its share of associations that run into budget problems. These should be minor when compared to other areas of Florida.

So what makes this area different? Our condominiums overwhelmingly serve as secondary residences. This is very different from other areas where condos are built as a primary residence or even converted from apartments during the real-estate boom earlier this decade. Many of these types of condos are having large budgetary shortfalls that they can not seem to recover from. The main difference is the strength of the owners.

A good example would be a condominium converted from apartments during the height of the market. If the majority of the owners are just getting by with their bills each month, this can spell trouble for an association. In the current market there are going to be a number of owners who are not paying their association fees. The minute the association increases the association fees or charges an assessment, that number is likely to skyrocket. This can easily spell disaster for that association.

Most condominiums in Panama City Beach serve as secondary residences with the majority of the owners having a strong financial position. If the association needs to increase association fees or charge an assessment to clear up a budgetary short fall, the most of the owners are capable and willing to write the check. This keeps the associations safe in a turbulent market.

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