VIDEO: PCB Gets A Main Attraction Back Better Than Ever

Right about now all Panama City Beach residents should shout, “Finally!” then collectively sigh. By the 4^th of July, Panama City Beach will have the long-awaited Dan Russell Pier re-construction completed, its platform opened, designed to be light-years better and safer than its predecessor.

For those who don’t know much about the new city pier, here is a quick recap: The 8 million dollar structure (the cost for both the county and city piers) was funded by Fema after the previous pier was severely damaged in a hurricane. Designed by Baskerville Donovan, the city pier will extend out over the gulf a lengthy 1500 feet, 29 feet longer than the old pier. The pier stands 8 feet higher than its predecessor and wider at 17 feet. A super-structure, the pier is built to withstand hurricanes of all kinds. Six hundred pound bolted blowout panels line the platform that, when met with storm surge and winds, relieve the pressure on the structure by releasing the panels to safely drift onshore to later be reset. The previous structure also had a T shape at its head. Baskerville Donovan designed the new pier with a much larger head shaped in a rectangle. The rectangular area has a dual purpose of form and function as it accommodates more gazers and fishermen while providing additional protection during storm surge. What may be surprising to some, the pier is turtle friendly. Track lighting embedded into the stone frame, runs down the pier from end to end, eliminating the need for canopy lighting.

Along the Front Beach Road, the pier’s best asset won’t be open until the spring. At nearly 300 feet wide, a boardwalk will be added that could make the pier, coupled with Pier Park, Panama City Beach’s new downtown area. This boardwalk, conformed to potential new form-based design regulations will make room for a ticket booth, a 62ft wide restaurant, a tackle and bait store, public bathrooms and a large outdoor area with umbrella seating for those seeking stellar views. This area will, most likely, wear the same beachy-guise as Pier Park seeming to extend the popular mall to the shore.

Parking for the new pier will line along the roadside and additional overflow parking will be across the street just west of Pier Park’s entrance. Costs will be $6.00 for entrance for fishing and $2.00 for individuals. Senior citizens, military and disabled will receive 50% discounts. Year long passes will be sold for $180.00.

The pier reopening will be heralded by a stunning 4^th of July fireworks display, the perfect kickoff to welcoming back a pier that’s been sorely missed.

6 New Things in Pier Park this Summer

061209_bigtoptreats

1 – Big Top Treats

Nestled on the festival grounds of Pier Park in Panama City Beach, two local Realtors are opening a Seaside-esque Airstream (silver bullet) snack shack coming fully stocked with everything you need to keep you cool in the summer sun. With everything from packaged ice creams to sodas to funnel fries and pretzels, Big Top Treats is sure to keep you feeling super cool. Expansion is already in the plans for the future of this new addition with it to morph into a full restaurant sometime in the next year.

061209_carousel

2 – The Miracle Strip Carousel

Resurrected from the Original Miracle Strip Amusement Park, Teddy and Jenny Meeks brought an old memory factory back to life and put it center stage in Panama City Beach’s most popular place to hang, Pier Park. An original 1960’s Herschel Carousel, this ride was built to last. Swarms of people have literally come out of the wood-work to relive memories and create new ones with friends and family alike. Rides are $3 or you can get an all day pass for $5.

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3 – Hawaiian Snow Cones

With three locations, you can’t miss the opportunity to savor some super sweet flavored crushed ice. Notoriously overpriced, these syrup drenched cones are always worth it, and if you’re a parent, you know how much your kids just have to have one. Located across from Tootsies, close to the Starbucks and Henna tattoo place, and across from Old Navy, you can’t miss their cute little carts.

061209_italian_ice

4 – Repiccis Italian Ice

What’s the difference between Italian Ice and Snow Cones you say? Well, actually not much. However, Italian Ice tends to be “shaved”, whereas Snow Cones are more ground to a snow-like texture. And, the typical flavors tend to vary. Situated in front of and ran by Popcorn Kingdom, this Italian ice stand offers fruit flavors from mango to orange to lemon and is sure to quench your thirst in our crazy humid and hot weather.

061209_shack

5 – Tropical Beach Knick-Knack Shack

Ok, so I made up the name, but the place is for real. Located right in front of As Seen on TV and Blender, Roger and his wife sell all sorts of hand-made-by-them knick knacks that would feel perfectly at home in your garden or around your home. With tons of really cute stuff from palm tree signs that rest upon wood “posts” to Tiki Signs, if you are looking for some cute beachy stuff, this is the place to go.

061209_turtles

6 – Little Tiny Turtles and Hermit Crabs

If you are here on vacation looking for that perfect pet, pick yourself up a tiny little turtle or a hermit crab. These little guys are so cute, and come with their own little habitat for $27. I personally wish these guys were in their natural environment instead of available for purchase, but if you promise to be very nice, you can go buy one.

Pcbdaily Survey Results: 1 in 4 readers makes $130k a year + Did you win?

Well, the Pcbdaily survey went better than expected with over 150 responses. This is the first of many (we hope), and it was very insightful as to who the readers of Pcbdaily really are.

As a little incentive to answer a few questions, we said we’d give away a $50 gift card to Beef ‘O’ Brady’s. I actually did the drawing this morning in my lush garden on video, so if you want to see if you won, watch the video!

The survey results are below.

Here are the results:

Are you a business owner?
Answer	Count
Small business – 1 to 20 employees	50 (32%)
Medium business – 21 to 100 employees	4 (3%)
I work for someone.	104 (66%)

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Are you a man or a woman?
Answer	Count
Woman	82 (52%)
Man	75 (48%)

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In what age group are you?
Answer	Count
18 – 24	7 (4%)
45 – 54	52 (33%)
55 and older	39 (25%)
25 – 34	31 (20%)
35 – 44	28 (18%)

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What’s the highest level of education that you’ve completed?
Answer	Count
Undergraduate School (Bachelors)	49 (31%)
High School	47 (30%)
Junior College (Associates Degree)	35 (22%)
Graduate School (Masters)	24 (15%)
Doctorate	2 (1%)

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What is your total annual household income?
Answer	Count
$20,000 – $34,000	4 (3%)
$130,000 and up	39 (25%)
$81,000 – $100,000	31 (20%)
$35,000 – $50,000	23 (15%)
$66,000 – $80,000	23 (15%)
$100,000 – $130,000	21 (13%)
$51,000 – $65,000	14 (9%)
$0 to $19,000	1 (1%)

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What is your current marital status?
Answer	Count
Single	37 (24%)
Married	120 (76%)

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How often do you travel to Panama City Beach?
Answer	Count
I live here.	86 (55%)
1 – 2 times per year	23 (15%)
3 – 5 times per year	21 (13%)
10 or more times per year	17 (11%)
6 – 9 times per year	10 (6%)

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Do you own real estate in Panama City Beach?
Answer	Count
No, I do not own real estate in PCB	68 (43%)
Townhome	6 (4%)
Home	52 (33%)
Condo	31 (20%)

Could This Be Love? TDC: Fall Marketing Preview

During Tuesday’s TDC Marketing Committee meeting concerning Fall/Winter marketing efforts, one of the most memorable, albeit most chuckle-inducing, comments came from Jack Bishop, who said, “selling Panama City Beach in the Fall is like selling swimsuits to Eskimos.” Well, while that statement has been true in the past, if the marketing committee and Y-partnership have their way, Eskimos everywhere might want to start shopping for sandals.

The phrase that stole the short meeting was a simple and catchy, “”Fall in Love Again with Panama City Beach,” a phrase unveiled by Peter Yesawich of Y Partnership which could provide a solid character for Panama City Beach’s spotty Fall Season. The romantic phrase may seem a bit transparent initially, but the idea behind it, as explained by Yesawich, is to target adult couples aged 45-64 who, once the kids have gone back to school, are looking for a reason to vacation. Based on Y Partnership’s research, 58% of leisure travelers took a trip with their spouses (no children) and did so most frequently during fall. He believes it’s possible to encourage that market by showcasing the many things to “love” about getting away to Panama City Beach.

This phrase’s lure hides within its applicability: create lots of small, festive events and tie in private sector business into one theme; i.e “Fall In Love with Shopping at Pier Park or Fall In Love with the Seafood Wine and Music Festival,” and all of a sudden you have mettle, a framework for which ideas can be attached. Yesawich’s plan is to apply the love theme as a seasonal draw similar to South Walton’s Autumn Tides promotion where a season’s worth of events are empowered by uniting them all under the same theme. Judging by South Walton’s success, it’s pretty a good idea.

The idea instantly became popular among the marketing committee and the meeting attendees. Even Mr. Buddy Wilkes found the love theme intriguing saying, “ ‘Fall in Love again’ may be the way to invite people to come see the new [Panama City] Beach and fall in love with it all over again. It’s easily applicable to other events.” Easy application to events, package deals and the hugely under-appreciated wedding market is what gives the theme life; the question remains as to what will make it work? The answer may not be as easily accepted.

Mr. Yesawich’s theme is merely a spring board idea. For the idea to take off, businesses locally have to buy into it collectively. Within the theme, condos, hotels and attractions are encouraged to promote couples and feature promotional rates and incentives to potential tourists. If everyone gets on that spring board and actually get out and promote it, the theme has a real chance of lifting off. This idea isn’t necessarily something that will boost fall business over one season, but could, over time, create a bit of a buzz for future seasons. If you can imagine a season filled with street festivals, outdoor concerts, wine tastings, music and art shows coupled with the seasonally low rates tied in to packages for couples, it all seems, from the onset, like a can’t-miss deal. But, its a long way from done.

The marketing committee plans to reconvene in 2 weeks to talk media, costs and coordination of what could be a truly successful attempt at generating fall business.

As Dan Rowe put it, “We must provide [potential tourists] a compelling invitation.” Is there a better invitation than good ol’ fashioned romance? You be the judge.

Mortgage Rates Spike

Mortgage rates rose another .25% over the last week and now stand at 5.75% for thirty-year fixed with no points. We are seeing some steadying, however, as the bond market appears to have stabilized and stocks have been flat for the last few days. With no large government bond auctions this week we should not see any further rate deterioration and rates could possibly ease slightly.

Fed Chairman Ben Bernanke has expressed frustration with the rising rates insisting that low rates are critical to a sustained recovery in the housing market. To that end, he and the Fed stand prepared to purchase billions more in mortgage-backed securities to drive rates lower if necessary.

On the economic front, the Commerce Department reported last Friday that new claims for jobless benefits fell in May by a much larger than expected amount though the overall unemployment rate rose to 9.4% – its highest level in twenty six years. While on the surface it may appear that losing 450,000 jobs in one month is a bad thing it indicates a marked drop in the rate of job losses and further evidence the economy is stabilizing.

On Tuesday, however, the government reported that wholesale inventories shrank to $405 billion, the lowest level since September, suggesting companies were adjusting inventories downward to offset further anticipated declines in sales.

One last note I reported on two weeks ago, HUD has now issued its final rule on utilization of the $8,000 homebuyer tax credit in conjunction with FHA insured mortgages. After first indicating they would allow for those funds to be used for repayment of a bridge loan to cover down payment and closing costs, HUD now has backed away from that plan fearing it carried many of the same risks as the now defunct homebuyer’s assistance programs.

HUD ruled that while the tax credit funds may be borrowed against for such things as closing costs, pre-paids and rate buy-downs, the borrower must still bring 3.5% of his or her own funds to the closing table. This is a hugely significant decision as the major hurdle most FHA borrowers and, indeed, most first-time homebuyers is lack of down payment. Many saw the use of the tax credit for down payment as a way of bringing an untapped segment of the population into the housing market and thus stabilizing the sector and overall economy.

New Home Buyer Tax Credit: 4 Things You Need to Know

You know I love to spread good news and you will find that this is NO exception. I hear a lot of talk about how awful the economy is and other complaints about the down side of life. Now I admit we are living in some challenging times. But out of challenge comes inspiration, motivation and great ideas by people who are thinking about what can be done instead of what can’t be done.

One of the exciting things that is happening for first time home buyers is a great way to get some money to help you with that thrilling first home purchase. Time is of the essence because you only have until December 1 2009 to take advantage of the New Home buyers tax credit.

So here are some of the questions that people are asking about the tax credit.

What exactly is a first time home buyer?
The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the home ownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer, such as may occur if a parent jointly purchases a home with a son or daughter. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
Is there an income limit and what is it?
Yes. The income limit for single taxpayers is $75,000; the limit is $150,000 for married taxpayers filing a joint return. The tax credit amount is reduced for buyers with a modified adjusted gross income (MAGI) of more than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. The phaseout range for the tax credit program is equal to $20,000. That is, the tax credit amount is reduced to zero for taxpayers with MAGI of more than $95,000 (single) or $170,000 (married) and is reduced proportionally for taxpayers with MAGIs between these amounts.
How do I claim the tax credit? Do I need to complete a form or application?
Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on Line 69 of their 1040 income tax return. No other applications or forms are required, and no pre-approval is necessary. However, you will want to be sure that you qualify for the credit under the income limits and first-time home buyer tests. Note that you cannot claim the credit on Form 5405 for an intended purchase for some future date; it must be a completed purchase.
What types of homes will qualify for the tax credit?
Any home that will be used as a principal residence will qualify for the credit. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.

This is just one more great reason to buy a home right now. Prices are low, inventory is plentiful and you get a tax break to boot. What a country!!!!! Call your favorite lender for more details on how to get qualified for your new home today.

Bay Point Foreclosure $70/square foot

The Beach Show is your ONLY internet TV show all about Real Estate on Panama City Beach.

Remember, it doesn’t cost anything to work with us if you are a buyer.

Click the “more” tag for show notes and pictures.

Call us at 866-994-1770 to see these properties or for anything else you need regarding real estate in Panama City Beach.

Show Notes

Deal 1 – Gulf-front Forclosure 4 Bedrooms!

List Price: $399,900
Square Feet: 2,115
Price/SqFt: $189.08
4 Bedrooms, 3 Bath
Built in 2004
This is a huge Gulf Front 4 bedroom lock-off condo in the stylish Grand View Condominiums with remarkable panoramic views. Situated on the end, this huge condo needs only a little TLC and you’ll be good to go. Originally sold for just under $1 million, at $400k, this is a steal. All the appliances seem in tact and the bedrooms are very spacious. You’ve got to check out this condo in a perfect location.

Deal 2 – Bay Point Foreclosure for $70/square foot

List Price: $219,900
Square Feet: 3,143
Price/SqFt: $69.97
3 Bedrooms, 3.5 Bath
Built in 1986
What a cool house. Definitely needs a little work, but what you have to start with here, is pretty darn cool. We’re talking an open fireplace in the center of the living room, and a fireplace in the master. There are tons of sky-lights everywhere, even in the closets and the back yard is great, although the pool has not been cared for. At $70/foot, this is a steal and won’t last long.

Deal 3 – Move-in ready home on Grand Lagoon, with a dock

List Price: $549,900
Square Feet: 2,210
Price/SqFt: 248.82
3 Bedrooms, 2.5 Bath
Built in 1990
This gorgeous water-front home is move-in ready. This home looks, feels and smells new, nothing needs to be done – it is VERY apparent that this home has been very well taken care of. If you are a boater, buy this home and show up with your boat, the dock is in great shape, the boat shelter and lift are ready to go. The yard looks great, the stucco’s clean, the inside is beautiful – you have to see this home. There’s not anything else like it for sale on Grand Lagoon.

Call us at 866-994-1770 to see these properties or for anything else you need regarding real estate in Panama City Beach.

Twitter Weekly Updates for 2009-06-09

@divaprod I agree, it sounds a bit stunt-ish but overall, I think a fall in love campaign will benefit that wedding market in PCB. in reply to divaprod #
Everyone on the board agrees with the “Fall In Love Again” theme. #
@divaprod actually they have talked wedding. Even Buddy Wilkes said something about having the worlds largest vow renewal. in reply to divaprod #
@Sunjammers hey brad, if there was a couples theme, could eco-tourism be a draw? in reply to Sunjammers #
@StefBarron Can you imagine running that theme and adding weekly events throughout the season. That is a recipe for success. in reply to StefBarron #
@lou1492 it’s amazing that this has not been used before? It can be run all the way to Valentines day. in reply to lou1492 #
Fall in love, again with Panama City Beach, sounds like a good and easily applicable theme. #
Flash Sales are huge sales that go to people who are within a database that happen over a short period of time. Kind of like “1 day only” #
Affordability of travel is up 97%. #
Anyone ever heard of Flash Sales? Apparently it’s a people are traveling again? #
“Fall…In Love” theme lends very well to selling rooms, I think. Easy to promote also. #
Y Partnership really hitting on the couples market. What do you think of the “Fall In…Love” theme? #
Apparently 6/10 people travel with spouse and do so in the fall. So should we suggest a couple’s market? #
@StefBarron Glad to help…and glad your listening. in reply to StefBarron #
Y Partnership starting their presentation. #
Is it me or is the word “niche” ambiguous? #
@StefBarron I hope that works out. It would be a blast. in reply to StefBarron #
Third comment on the commercial prefaced by “it’s a beautiful commercial, but…” #
17 weeks for fall and winter with an event every other week. #
You pitch the season by creating micro events tied into one theme. Sounds good. #
The fall is filled with opportunties. Pier Park is in for being a venue for these events. #
Weekend street fairs? At Pier Park? Will that work? #
There are no answers yet, but the question is how to create a compelling invitation to potential tourists. #
Is the core market for fall just an extension of the summer tourist? #
Discussions about fort waltons fall marketing. #
Talk has steered towards trying to distinguish fall from winter. Jack Bishop encouraged the dialog. #
Let’s talk fall marketing. #
At the Tdc meeting. #
@cebocampbell you’ll just barely make it. but the real question is whether I can make it. in reply to cebocampbell #
I know they said it was a slow week, but pier park is jam packed. #
Its really cleared up. Go outside for a stellar sunset in just a little bit. #
Skies are looking great, concerts in the park at pier park is a go! #
@lou1492 better. These form based design regulations should benefit the city and incentivize future developments. in reply to lou1492 #
Many of these potential regulations could change PCB. #
Who knew there were so many different frontages in development? #
Lots of frustrated comments on lack of views because of new buildings and phasing of front beach rd developments. #
Lots of people here discussing previous public comments such as building hieghts and design. #
At the builders workshop discussing future Panama City Beach developments. #
Clouds looking nasty to the west, but I can see blue skies to the east. #
going to see my buddies at Edgewater Beach Resort! #
RT @BayTownTrolley:Can you feel it? 1 day 15 hours 40 minutes. #
RT @toocreative:do you use a mac? check this out. pretty cool! http://nambu.com/ #
raining this morning, supposed to rain all day, concerts in the park at pier park tonight? I hope. #

Limerick’s Irish Pub Plans to Stay Up By Keeping it Down

You may not know of Limerick’s Irish Pub by name, but you know the address: 6628 Thomas Drive, home to several previous businesses, the most recent being Buckwild Saloon and The Shaggy Marlin both closed due to complaints from nearby residential area. You see, Limerick’s sits on what may be the most ambivalent location on all of Panama City Beach, perfect for drawing big crowds on Thomas Drive with very little adjacent competition while facing a row of seasonally-packed condos. At the same time the location is smack-dab in the middle of a quiet and easily angered residential area.

The stories behind the location have been many. You may remember when the property was known as Buckwild Saloon the establishment was sued Bay County and had its owners arrested on charges of violating a revamped noise ordinance. Residents in the area complained that the bar was too loud and its patrons overly raucous. There were also complaints of overflowing parking making it difficult, if not dangerous, getting in and out of the street. Buckwild owners agreed to renovate the property and change it to Shaggy Marlin by adding parking lot noise barriers and changing the building focus from a bar to a restaurant (although they still charged for cover). While loved by locals who didn’t live in the Thomas Drive area, the Shaggy Marlin was sent to court a second time during Spring Break. Officials said the Shaggy Marlin violated the prior agreement being both noisy and not operating primarily as a restaurant. Needless to say the place was put up for sale with Counts Real Estate Group, Inc and tagged with a stern warning from Bay County Commissioner Mike Thomas that whoever purchased the property must live by the guidelines set in the agreements with its previous owner.

All that bring us to now, the property has since been sold to a bank, leased to its current proprietors and dubbed Limerick’s Irish Pub. The name change has only been a part of an honest-to-goodness transformation. Since the property has been in opened, February 09, there have been no complaints. That time period includes Spring Break and Thunder Beach. Limerick’s, like its predecessor, still offers live music, only on the weekends, but the chosen bands are not quite as mosh-pit-inspiring. The bands also play only indoors. I personally spoke to several patrons and employees who all felt that the newly name and updated venue has serious potential or longevity. For one, the food is great; Limerick’s may very well have positioned itself as the best place on the beach for icy Appalachian oysters and a mojito. They’ve added security and decided to close its doors by 2 AM. In order to help drive business, instead of using the upper floor bar as another music-driven area, they’ve changed it into PCB’s only venue for the amateur poker league, free to the public. On top of all that, the proprietors have been in negotiations about purchasing the next door parking lot for added safety. One gentleman I talked to, who happened to be one of the complainers during the Buckwild-Shaggy Marlin era, said he now enjoys walking down the street to the Irish spot for the Beef and Guiness soup and a few oysters.

I’m glad to see such a great location for locals not go to waste. What do you think?

5 Ways PCB's New Airport Will Help Your Business

As Panama City Beach prepares for a new airport slated to be taking in flights by this time next year, many question how the airport is really going to benefit their businesses. Well, here is your answer…actually, five of them.

1. More People = More Money

This is the easiest reason. Obviously, with the completion of the new airport, Panama City Beach will be able to reach new markets it could not before. In addition to opening direct travel channels that previously did not exist, current feeder markets will be more encouraged to fly into Panama City Beach because of the significantly cheaper rates than PFN. The lure of the one-hour flight will just be too much for markets like Atlanta and Birmingham exposing Panama City Beach to the “disposable income” demographic. Panama City Beach will see a significant increase in the amount of travelers, in turn, an increase in revenue for just about everyone.

2. Real Estate Value

Panama City Beach has already seen considerable growth in developments over the last 5 years. The new airport is expected to both accelerate that growth as well as open the gates to investors. There have been all sorts of theories on whether PCB will see a “boom” in real estate growth or a “gradual incline” but regardless, businesses will benefit. Investors will be attracted by the new airport’s effect on Panama City Beach inexorably boosting economic return on private capital. When the overall value increases so too will things like, say…I dunno…room rates? Cha-Ching.

3. Re-Introduction, “Hello, New York, My Name Is…”

The new airport presents a unique opportunity very difficult to come by for any tourist destination. Panama City Beach has been labeled as the “Redneck Riviera” and most people who’ve visited the city have visited it previously and are knowledgeable about the resorts and hotels and attractions. The effect the new airport will have on the destination’s ability to re-invent itself will be invaluable. Equally, every accommodation and attraction throughout the beach will be presented the same opportunity. You get to retell your story however you like. If you haven’t started getting ready for advertising and marketing, now is the time, because you’ll get one shot to show a new group of people that you’re worth spending money.

4. Opportunity For A New Season

This hasn’t been talked about much, but should be considered. Panama City Beach’s biggest encumbrance is its seasonal activity. All over the beach establishments close for three months or more out of the year to accommodate the severe lag in business. With the new airport completed coupled with TDC/CVB efforts to create off-season tourist-attracting events, what used to be a seasonal-lag may become a goldmine. Imagine if the business you do during peak season continues at nearly the same rate all the way to December? With the ability to create flight package deals, this may be the next step in PCB evolution.

5. Morale – The Domino Effect

Initially, this doesn’t seem like a big deal, but consider the overall economic impact the new airport will have on the beach. More jobs, more money and better pay makes for happy people. What we’ve seen over the last few years, the increase in the developments, the CRA projects and now the negotiations in adopting form-based design regulations are direct results of the new airport. What you will have in the coming years is a more beautiful and happier city than ever before. I don’t know about you, but that may be the most valuable consequence of all.

These are our 5, do you have more?