Tucked away right off Front Beach Road in Panama City Beach lies a hidden treasure of a resort with a plethora of amenities completed and waiting for you to enjoy.  The Island Reserve Resort is a well kept secret, maybe that’s why only 42 were sold and 257 are up for auction, 100 of which will be sold absolute.

On May 16, 2009, 100 condos will be sold absolute by Roebuck Auction Group.  Now before you guys bash us for publishing an advertorial, here me out. If the price is right, this could be a sweet deal for you.  And the fact that they are selling 100 condos absolute, everything is completed (including the amenities) and only 42 are off the developer’s books means the price will probably be right.  So, what is that price, you say?  We shall see, my friend, in the near future.

On with the resort.

My tour began in the 4,200 square foot half court basketball gymnasium with 35 foot tall vaulted ceilings overlooking the 1 acre lagoon pool.  Attached to the gymnasium is a fitness center, private theater room and club game room filled with a pool table, card table, bar and a sink.

When I walked out to the pool, I envisioned families playing and kids running about the spacious pool deck.  The pool area is very open.  The 1 acre lagoon pool features lanes on one end for laps and a beach entry on the other for the kids to play in the shallow water.  In addition to a waterfall feature, there is also a fenced area (using the nice black fencing, of course) with water spouts for the kids to play in.  This is very cool, as this way parents don’t have to worry about their little kids wandering into the pool when they play in this area.

The whole resort was designed like  small community with plenty of areas to spend time outside.  The landscaping was a little rough, but crews are working to revamp everything by auction day.

Up for auction are condos randing from 1 to 3 bedroom and townhomes either 3 or 4 bedrooms.

I went in a 2 bedroom condo and 3 bedroom townhome and both were well laid out and spacious.  The town homes come with 2 car garages, wine coolers and icemakers along with 3 floors to spread out in.

The draw back to purchasing thid kind of property a couple years ago was that you had to wait for the amenities to be finished.  Island Reserve is complete now.  The amenities are in place and begging to be used.  The condos and townhomes are done and move in ready.

Sure, this resort is not beachfront, but it is a resort with all the fit and finish and with the absolute auction, the prices should be good.  If you are in the market for something, I’d stop by and take a look.

In 2006, a 1 bedroom condo sold for $426,000, a 2 bedroom sold for $516,000 and a three bedroom sold for $616,000.

Here are the square feet of each size condo (heated and cooled):

• Condos
  • 1 bedroom w/ study, 1 bath: 1069 sf — — — > 32 total units, 15 absolute
  • 1 bedroom, 2 level, 1.5 baths, 2 levels: 1520 sf — — — > 24 total units, 12 absolute
  • 2 bedroom, 2.5 bath: 1,325 sf — — — > 125 total units, 40 absolute
  • 3 bedroom, 2.5 bath: 1,761 sf — — — > 52 total units, 25 absolute
• Townhomes
  • 3 bedroom, 3.5 bath, 2 car garage, 3 levels: 2,874 sf — — — >6 total units, 6 absolute
  • 4 bedroom, 4.5 bath, 2 car garage, 3 levels: 3,019 sf — — — >2 total units, 2 absolute

Click here to view floorplans.