This week in Spring Break 2008, Panama City Beach

Last week was indeed the big week, but it’s still not over. My in-laws own a rental management company on the beach that my wife works at on weekends. She said yesterday, “this must be the vomit and poop week.” She said they found human feces on the living room floor in one home and feces on a window sill in another home with vomit all over the place. gross.

Click the “more” link for a list of schools in town this week”

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New Airport Designs released

as from the newsherald

As reported by the News Herald.

HNTB Architecture, the firm that has taken over the design of the new airport facilities presented the new design ideas to the Airport Authority Thursday.

HNTB meets with the Airport Authority Board monthly and have been challenged to get the overall cost of the $30 million terminal down and make it more environmentally friendly.

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Notes from the March 20, 2008 TDC/CVB Marketing Committee Meeting

Only 7 of the 11 members were present. Absent were Philip Griffits, Jr., John Hamati, Bill Spann, and Debi Knight.


President Dan Rowe explained that he would like the Committee and Board to begin discussing their plans, if any, for this segment ahead of the upcoming budget process. Rowe also reported that he has had discussions with the CVB’s agency about completing additional research to determine what the year-round effect is of our spring break image. Image concerns were also expressed by a majority of the committee members present. Although no formal vote took place, the majority of the committee expressed an interest in either discontinuing funding completely or at least changing it to special event funding. If changed to special event funding, the CVB would only consider providing financial support after an organization or co-op made a formal request for financial support.

Click the “more” link for the others points covered in the meeting.

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Fed cut rates by .75%

The Federal Reserve cut interest rates by .75% in their regularly scheduled meeting on Tuesday, March 18, 2008. Stating that the economic outlook is not good, the Fed indicated that more rate cuts could be on the way.

The short-term rate is now down to 2.25%, down from 5.25% in September. The Dow went down at first, but then rose to an astonishing gain of 420 by the time the markets closed.

Many economists were predicting a full point cut and were surprised with the 3/4 cut.

For the entire article, click the “more” link.


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2007 Panama City Beach Condo Market (cont.)

In an effort to answer some questions about the analysis he provided on the condo market in Panama City Beach, Sam Portmans from offered the following:

In order to have an intelligent discussion about market value, market trends, and the data used to evaluate the market, we have to agree on the definition of market value.

There are two relevant types of value, Current Market Value and Speculative Value. Current market value is what lenders and the banking system have agreed to use. When the definition of current market value is boiled down to its essence, it is the highest price that will attract a buyer over a defined marketing period. Implicit in this definition, is that there is always a buyer at market value. Say you have given yourself six months to sell your unit. After six months it has not sold and your Realtor tells you that there are just no buyers out there. What he is really telling you is that there are no buyers out there willing to purchase at above the current market value. If your unit has not sold in six months, it is priced too high to sell. There are always buyers at market value. Buyers don’t care what you paid or what you think your unit is worth. Buyers pay market value 99 percent of the time.

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RedBrick Pizza – review, it was awesome!

My family and I had the opportunity to dine at RedBrick Pizza last week and had a great experience.  Eating there brought back childhood memories of eating pizza with my parents and brother at a local pizza joint in Dallas.  I remember the good times and the pizza always being awesome.

Inside RedBrick, the environment was cozy.  All the tables on the outside wall had their own little tv’s hooked up to Dish Network and a wall control that would change the channel.   This is awesome for families with little kids because you can put on cartoons and keep them from wanting to run all over the place.

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Coastal 3000 – The Beach, the projected new brand for our area

Yesterday morning I went to a chamber event with Andy Phillips, the Vice Chair of Coastal 3000, presenting what is to be the Brand for our area – The Beach. The idea is for business and community leaders to team up and create a brand for our area to boost national awareness of our pristine beaches.

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Charles Faircloth Estate Auction a Success

Well, success is a relative term. I think they sold everything, but are they going to be able to pay off his debts with what they made? I doubt it. Up for auction was around 150 total properties that ranged from off-the-beach townhomes to multi-acre beach-front tracts. Auctioneers John Roebuck and Chris Camp blew through the properties in right around 3 hours.

Click the “more” link for a list of some of the big properties sold and a sampling of some of the small ones.

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