Part 3 Debunking the tax credit Myths

You know how you receive those lovely thick pieces of hard to open Junk mail that say in bold big letter, “TIME SENSITIVE ” well this is your online version of that but it really is TIME SENSITIVE, so in an attempt to wrap this topic, up here we go.

Tax Credits are a wonderful way for saving money on that dreaded tax bill but there is still much misinformation out there. This will be my third and final attempt to seperate the fact and fiction surrounding the tax credit for New home buyers. We have addressed some of the other questions in prior articles but there are a few myths that remain. . . So we will try to stick to “just the facts Ma’am”

Myth #1 To qualify it has to be a house.
NO, a home is different for everyone and the only definition that need apply for a home is a residence. With that in mind then you may purchase a detached single family, a duplex, townhome, condominium, pre-manufactured home (mobile home) and even a house boat!!! The only restriction that the program requires is that you are not able to buy a home from your parents, children,grandchildren or spouse. In other words it must be an “Arms length transaction”

Myth #2 I have to fill out loads of paper work before I even purchase my home.
There is no paperwork to file ahead of time to receive the credit. You just need to fill out the IRS tax form 5404 when filing your income tax return. Then, follow the instructions on the tax forms. Again, as in all things, discuss your personal situation with your lender and he will guide you through the process.

Myth #3 I have to buy an existing home.
NO absolutely NOT. This one is timely right now however and if a home is not already started you may be pushing the envelope a bit. Remember you must close on or before November 30, 2009. You are allowed to apply the tax credit for an existing home or a newly constructed home. If you own a lot and construct your home yourself, or with a builder, your date of ownership is considered to be the date you first occupy the home. For homes that are built by a developer/home builder, eligibility is determined by the settlement date. I have one couple doing this but the home was already started so borrowing any acts of Nature then they should be just fine.

Myth #4 I must be a US citizen to utilize this program.
An alien resident who has not owned a home in the past 3 years, and is within the income limits, may also claim the tax credit if he meets all other requirements.

For space and time and my writing skills we can not address every issue that comes up but his should get you started. Please discuss this with your Realtor, banker and accountant to see what best fits you. Hopefully if you are looking forward to the credit to help buy your home you have already started the journey and if not what are you waiting on???? Get on your boogey horse and GOOOOOO.

Klages Report: PCB Doing Better Than the Rest of the State

In Tuesday’s TDC meeting the thin audience listened in on a comprehensive presentation of the Klages Group’s spring report. The report, drawing data from 8500 units across Panama City Beach and interviewing around 800 or so people for the months of March, April and May, included hard data from average daily rates, visitor profiles and a survey of behavioral and motivational aspects of visitors. As it stated, Panama City Beach’s total economic impact over the aforementioned months yielded $261,385,914.00, up from last year’s $247 mil. While some numbers were down, like overall occupancy down 1.2%, ADR was up about a dollar from 2008 and the number of nights stayed went up nearly 7%. In our primary market of the Southeast, Panama City Beach saw a huge increase visitation up 27% while the Midwest dropped slightly in 2009 from 2008’s 94,800 visits to 91,400. One particularly interesting drop was the European market which saw a decline from 6.7% to 3.9%; a steep drop that leaves room for improvement. Dr. Klages, who presented the report, expressed the potential for the European market was strong with the new airport coming on line. Overall, Panama City Beach saw a large increase of visitors during spring, jumping from 2008’s 282,200 visitors to 2009’s 302,000 visitors.

Comparably, the rest of the state did not fare as well. In the most recent Smith Travel report, quoted in the Klages report, cities like Naples saw occupancy drop 15% and ADR drop nearly 8%. Miami saw a 9.5% drop in occupancy and an 11.2% decline in ADR. This trend was seen all over the state in destinations like Orlando, Sarasota and Clearwater. Overall, the state of Florida saw a 5.4% drop in occupancy and an 11 drop in ADR.

Other data shown in the report drew concern and disbelief from the board. The report stated that during spring Panama City Beach had an 89.9% approval rating as well as nearly 70% of visitors during spring were families or couples with only just over 10% visitors reported as singles. Mr. Buddy Wilkes acknowledged the incredulity saying, “I have some concerns about these numbers.” Dr. Klages did address the concerns stating that the interviewed could not be younger than 18 or in a state of intoxication.

Most surprising was that the tone of the Klages report proved far different than the recent Y Partnership focus groups. While Klages data showed Panama City Beach as a friendly, beautiful and prosperous community, Y Partnership’s focus group painted Panama City Beach as an underwhelming destination below the quality of nearby destinations like Destin and Gulf Shores. Still, in both reports, Panama City Beach was shown to be doing economically better than most communities throughout the state. Mayor Oberst underscored that point saying, “I think we have a lot to be thankful for.”

Related News

A question of potential carriers at the new airport arose, causing a wave of coy smiles to sweep across the board although no carrier was named. Dan Rowe did say that we can expect an announcement 6 – 7 months prior to the airport’s opening. Andy Phillips went on to say, “We are in the 11th hour and it’s critical that we have some unification. [Carriers] want this to be a regional effort, not just Bay County.”

Marketing Update

The Fall Marketing Campaign, which was originally to be themed “Fall in Love…With Panama City Beach,” has been changed to “Never-ending Summer.” Mr. Wilkes, the lone dissenter in the campaign said, “It sounds like more of the same: more traffic and more people just like summer. The most important thing is to sell our value. The fall is much quieter and cooler and we have value that can compete with anyone in the world.”

After persuasions from Mr. Rowe, it looks like “Never-ending Summer” will be the theme.

Why You Should Already Be Thinking Summer 2012

Try to imagine what Panama City Beach will be like come summer 2012. What do you see? If you see the same PCB you see now, I encourage you to sleep on it for a night and try again. In fact, if you were to set the clock back to 1999, before the condos, before the closing of Miracle strip and the opening of Pier Park, back then you couldn’t possibly have imagined Panama City Beach would be as it is today unless you were a descendant of Nostradamus. No one can see the future, but we have around us even now intelligible signs of what we can expect. What those signs are showing is that by the summer of 2012 Panama City Beach will have seen an equally drastic change as such since ’99.

What Changes To Expect:

Physically, Panama City Beach will not look as it does today. Upcoming CRA developments will make Front Beach Road and entirely new place. In fact, it is likely that what we know as “The Strip” will be long gone. Coupled with Form-Based Design Regulations, don’t expect it to resemble its current guise. Thomas Drive will be a beneficiary of these new codes as well. North Thomas will continue to see large developments taking advantage of Navy Base business and, with the addition of Jasmine Thai Restaurant and Grand Lagoon Bridge work,  may very well become Panama City Beach’s restaurant row. It is likely that Pier Park will expand. No word yet on what will happen on Pier Park West, but rest assured it will be used, opening up new opportunities for businesses and potential Panama City Beach Parkway developments. But, obviously, the biggest change will be the airport. Panama City Beach will see its biggest change after all the hoopla surrounding the new airport sets in and low cost flights bring a new clientele. Many, if not all, of the older hotels and those that are currently considered “eyesores” will be flattened making way for potential new buyers to build on Panama City Beach. So what you will have is a totally new Panama City Beach.

What Changes “Could” Happen:

Let me preface what could happen with a reminder that “could” does not necessarily mean “will”: it is entirely hypothetical.

One of the biggest “could” happens on Panama City Beach is a clashing of Panama City Beach and Destin. With the new airport in between them, inevitable developments occurring in the “neither” space, Panama City Beach will begin to swallow Destin as a part of the city. This melding could be accelerated by the coming economic upswing. Property sales will still be cheap as the economy turns, just in time for New York and Chicago buyers to buy up land that would make Panama City Beach and Destin much “closer” than they’ve ever been. The competition will be fierce and in order to distinguish Panama City Beach as the “fun” side, Pier Park will take on a new role. In an amazing turn of events, Pier Park West will be transformed into a boardwalk amusement park unlike anything this area has seen. Epic rides, coasters and a towering Ferris wheel overlooking the coast. Panama City Beach as a vacation destination will explode with new travelers avoiding the 6 hours to Orlando. But, mind you, this is all hypothetical good fun.

Why You Should Be Thinking About it Now?:

You should be thinking about that date because of what will happen. Panama City Beach IS going to expand and a new clientele WILL be on our shore looking to give you their business. This, naturally, will create an even stronger sense of competition than that which exists now. And by then, if you are behind the times technologically, you will be left behind. In fact, even now when many vacationers come to Panama City Beach they use cell phone applications as a travel guide. If you don’t know about Yelp and Urbanspoon, you’re already two years behind. And with the new AT&T 3G tower scheduled to be completed on Panama City Beach this year, use of applications as a way of guiding travelers will only increase. By 2012, developments in social media and advances in cell phone and communication technology will provide you an opportunity to level the marketing playing field with the big guys. But you can’t wait. Now is when you need to be thinking about social marketing, local co-operatives for package partnerships such as a Room+Attraction+Airfare parkages, and spending time and research to understand the type of clientele that will be walking Panama City Beach’s shores by the summer of 2012. In, fact we may be inevitably moving in the direction of some sort of city pass card for businesses, hotels and attractions where everyone benefits. Either way, as Panama City Beach grows, and that will happen exponentially by 2012, you will have to grow as well or be taken over by the wave of new business and travelers you never saw coming.

VIDEO: Sea Turtles Hatching on Panama City Beach

Over 100 sea turtles hatched Sunday night on Panama City Beach.

From http://www.turtlewatch.org

August 9, 2009.  The hatching season began last Sunday when 99 loggerhead hatchlings emerged from nest #3 at the Coral Reef Condo at 8 pm.  Many crawled east toward lights of an adjacent condo and were rescued by Turtle Watch volunteers with assistance from local residents and tourists.  The disoriented hatchlings were collected in coolers and released on a dark beach in western Bay County.  See Nest Information for details on the other hatched nests.  If you see nesting or hatchling turtles on Panama City
Beach, immediately call 888-404-3922 (24-hr hotline). Please remember not to crowd or shine lights on nesting turtles or hatchlings. Contact us at Turtle Watch for more information about our program.

5 Scenarios on Why PCB Needs Hospitality Training by Jan. 1 2010

What may distinguish Panama City Beach from larger, more prominent, vacation destinations isn’t what you may think. It isn’t the clientele, because let’s face it; the same people who visit Orlando and New Orleans visit Panama City Beach. It’s not necessarily our ignominious moniker as the “Redneck Riviera,” because even a place like Gatlinburg, Tennessee, where such a label may seem a tad more appropriate, has avoided such branding. In fact, what may be keeping Panama City Beach from realizing its full potential as a vacation destination to rival any, is a very simple thing we’ve all taken for granted; standardized hospitality training. The very truth in the statement is evidenced by how many people, as they read this, scoff at the idea.

While you think Panama City Beach is doing just fine in its ability to be a hospitable, obliging place for all vacationers your own “Southern Manners” may be what’s blinding you from the truth. The reality is, as city Panama City Beach is not professionally hospitable. As far as true, professionally operated hospitality goes, Panama City Beach could be schooled by places like Orlando and Gatlinburg. Don’t believe me? Below are five scenarios that, although fictionally composed, can be witnessed happening all over the beach. After reading them, ask yourself do we need the training.

Restaurant Scenario:

During peak season, several families wait outside a restaurant where the wait has reached over an hour. It is the height of summer and the heat index is in the triple digits. There are no available seats in the restaurants interior and all unseated patrons must wait outside where chairs are extremely limited and the heat is rising off the pavement in waves. During their wait no hostesses come out to check on them, from the restaurant manager they receive no updates on wait time and no complimentary refreshments are provided in the extreme heat. When one of the fathers, whose two-year old daughter is drenched with sweat in the blistering heat, approaches the teenage, untrained hostess regarding remaining wait time the hostess sighs with annoyance and says, “Sir, the wait time is 45 minutes and you’ve only waited 30. We can’t seat you until seats are available. We’ll buzz you when its time.”

Hotel Scenario:

During the midnight shift, two young girls, one twelve and the other sixteen, rush the front desk counter of their hotel obviously frightened and out of breath. The older of them, panting and shaking, says to the desk clerk, “We saw a huge bug in our room.”
The other girl chimed in, “It was giant; bigger than my thumb and black!”
“And it could fly!”
The desk clerk, an older woman, chuckled softly and replied,”It’s just a palmetto bug. They’re everywhere this time of year. Where are your parents?”
The older girl answered, “They went to dinner and we ordered pizza. The bug landed in our food.”
“Well,” the clerk said. “Those bugs ain’t gonna do you no harm. They just looking for a place to get out of the weather.” She reached behind the desk and grabbed a can of bug spray. “We don’t have maintenance on staff right now so take this with you. If you see him again, give him a shot of this and I promise you won’t see him again.”

Transportation Scenario:

A family, excited to be in Panama City Beach for their annual vacation, have problems with the car rental at the airport and decide to hail a taxi. The taxi stops. When the man opens the door for his wife, the cab billows with cigarette smoke. Inside, the cab still smells like Spring Break puke. The man says to his wife and two children, “Don’t worry. We’ll get to the hotel and the fun starts.”
After driving silently for a few miles, they cross Hathaway Bridge and see the beautiful water for the first time. The kids are blown away by the colors of the gulf and the ships coasting the calm water. The man says to the cabbie, “We’ve never been to Panama City Beach. This place is beautiful. Tell me a little about it.”
The driver answers, “It’s busy and crowded. But from what I hear there’s a lot to do.”
“Like what?” The man asks. “Where’s a good place to take the kids for dinner?”
“Umm, there are lots of places. You’ll see all that once you get to your hotel.”
“But c’mon, as a local, you’ve got to know a few good spots. Any places you’d suggest?”
“Nope. Ask the front desk clerk at your hotel.”

Law Enforcement Scenario:

A big name celebrity is brought to Panama City Beach for a one night only concert. Since there is no venue to house such an event, the concert is held on the beach. Law Enforcement has a plan in place to accommodate up to 10,000 – 12,000 occupants on the beach and roadside parking. None of the local businesses are knowledgeable about this plan because, but based on the projected number, law enforcement should be able to handle the influx.

The concert sees nearly 30,000 people, far above the anticipated number. Roadsides are crammed with cars causing major traffic jams and potentially dangerous situations. Bathrooms, water fountains and other necessary items for a concert of such a magnitude were not readily available. When the concert ends, the 30,000 people at once hit the streets and overwhelm the businesses and law enforcement. Open canisters, kids hanging out windows, speeding cars and other illegal circumstances cannot be properly policed. Local business parking lots are littered with people and trash and the traffic is backed up for hours. Police have to close roads in order to manipulate the traffic.

A local couple is trying to get home in all the madness. Their home is on one of the closed streets. When the couple asks the police officer if they can cut through to get to their home and out of the crazy scene, the officer ignores them and they have to sit through a 2 hour traffic loop just to get home.

Nightlife Scenario:

A man in a bar accidentally bumps into a woman, causing her to spill her drink onto her dress. The woman, slightly inebriated, screams at the man who tries desperately to apologize. After only a few moments, the woman’s boyfriend walks up, his eyes dancing around with drunkenness.

The boyfriend shoves the other man into a crowd of people causing a ruckus at the bar. The bartender calls for the bouncers, who show up and grab both men. The boyfriend tries to fight off the bouncer causing the bouncers to become more aggressive. The man, who is still attempting to be apologetic and explain to the bouncer his mistake, is put in a chokehold and dragged out of the bar; his night on Panama City Beach ruined.

These are but scenarios that represent real life scenes on Panama City Beach. The lack of hospitality training not only hinders businesses and their employees from handling these situations properly, but often encourages the situations by the utter unprofessionalism. By simply adding accessible Standardized training (which should be relatively easy with the new bay county chapter of the FRLA) Panama City Beach could change everything about its moniker and its clientele by setting the example.

You may be raised how to be polite contributing members of society, but no one is raised to be hospitable and professional: for that you need training.

AGENDA: CVB/TDC Board Meeting – Spring 2009 Klages Report

We finally get to see the new Klages report regarding Spring 2009. This meeting will be somewhat of an appetizer for the upcoming community forum on the Spring Break topic of marketing and overall community opinion.

AGENDA

COMBINED BOARD MEETING
Bay County Tourist Development Council
Panama City Beach Convention & Visitors Bureau, Inc.
Panama City Beach
Tuesday, August 11, 2009
9:00 a.m.
Council Room, PCB City Hall

I. CALL MEETING TO ORDER

II. ROLL CALL

A. Invocation
B. Pledge of Allegiance
C. Approve Minutes From July 8, 2009, and July 14, 2009

III. REQUESTS TO ADDRESS THE BOARD ON AGENDA ITEMS (3 Minutes)

IV. UPDATE ON BED TAX COLLECTIONS, Ms. Charlene Honnen, Tourist Development Tax Specialist

V. PRESENTATIONS

A. Spring 2009 Visitor Profile, Dr. Walter Klages, The Klages Group

VI. BOARD ACTION ITEMS

A. Discuss and Consider for Approval CVB/TDC Financial Statements Dated May 31, 2009, and June 30, 2009, Mr. Dan Rowe, President

B. Discuss and Consider for Approval Coastal Planning & Engineering Invoice #90732, Invoice #90733, Invoice #90734, Invoice #90735, and Invoice #90748, Mr. Dan Rowe, President

C. Discuss and Consider for Approval Allocating $2,000 from the 3rd Cent Trust Fund to Florida Beaches and Shores Preservation Association for the Purpose of Filing an Amicus Brief in the U.S. Supreme Court Case of “Stop the Beach Renourishment v. Florida Department of Environmental Protection and Walton County/City of Destin,” Mr. Doug Sale, Legal Counsel

VII. BOARD DISCUSSION ITEMS

A. Update on Marketing Activities, Ms. Susan Estler, VP of Marketing

VIII. PRESIDENT’S REPORT

IX. CHAIRMAN’S REPORT

X. AUDIENCE PARTICIPATION

XI. ADJOURNMENT

To download the Agenda please click here.

Around The Bend: Washington County Upcoming Events

Be it that we live in a vacation destination, there are times when we, the residents of Paradise, need to getaway for a while. What better place than a few miles up the road to our neighbor Washington County. The Washington County CVB has asked PCBDaily to showcase their events to Panama City Beach residents and we’re honored to oblige. Washington County is a beautiful, quiet area that has much more to offer than most, including myself, realize. So here are the events for remainder of the year. As these events come up, we will post them again and hope you’ll take a mini-vacation up to Washington County to enjoy them.

Washington County Event Calendar

August 2009

Wausau Fun Day & Possum Festival August 1st
Spanish Trail Playhouse presents “School House Rock Live!” – August 13-15th

September 2009

Chipley Woman’s Club Bridal Extravaganza –  September 20th

October 2009

Legends & Lore in the Fall Festival – October 9-10th
Pulling for Education – October 10th
Seacrest Wolf Preserve’s “Howl-O-Ween” – October 23-25th
Downtown Chipley’s Fall Harvest Festival – October 31st

November 2009

Outdoor/Recreation Expo –  November 21-22nd

December 2009

Downtown Chipley’s Christmas Festival (Parade & Artist Market) – December 5th

For more information on these events, Please stop by www.VisitWashingtonCountyFL.com

Pet of the Week – Jake the Jack Russell/Chi mix

jake-3Jake is a lively, 1.5-2 year old Jack Russell/Chi mix that came from a high-kill shelter. His time was up, and the shelter director just knew he was too much of a gem to not find a family. We took him, and he is truly a sweetheart! He is housebroken, and SO friendly and good with everyone. He loves to go for walks and play with other doggies.

Unfortunately, the vet told us Jake is Heartworm positive and needs treatment as soon as possible. He is an excellent candidate due to his age and otherwise health, and we want to help Jake.

We pray someone finds it in their hearts to not only help us sponsor Jake’s vet bill, but also to give him that forever home that he longs for and deserves.

friendsofbcac.rescuegroups.com

Episode #17 – 3 BR Condo on the Gulf $229k

This week’s features:

  • Deal 1 – 3 Bedroom Condo on the Gulf for only $229,000
  • Deal 2 – Townhome on Thomas Drive for $169,900
  • Deal 3 – Wild Heron Bungalow BACK ON THE MARKET only $302,500!

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 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.

Show Notes

Deal 1 – 3 Bedroom Condo on the Gulf for only $229,000

  • List Price: $229,900
  • Square Feet: 1,560
  • Price/SqFt: $146.79
  • 3 Bedrooms, 2 Bath
  • Built in 1984
  • Regency Towers is among my favorites. Having recently gone through a total overhaul under new management, this timeless classic is beautiful and the host to some really great real estate deals. This particular condo is on the west side with an enormous unobstructed new of the Gulf and is in great shape. Altough it is bank owned, it didn’t look like it needed anything except new furniture and floors. This is a steal and a must see!

Deal 2 – Townhome on Thomas Drive for $169,900

  • List Price: $169,900
  • Square Feet: 1,565
  • Price/SqFt: $108.56
  • 2 Bedrooms, 2.5 Bath
  • Built in 2005
  • This awesome townhome has never been lived in and is located right on Thomas Drive (set back quite a bit) amonth several others just like it. There is a community pool. Providing peeks of the Gulf of Mexico, this town home is only steps from the beach and spacious enough to live in or use as a rental. This price is a steal with new everything!

Deal 3 – Wild Heron Bungalow BACK ON THE MARKET only $302,500!

  • List Price: $302,500
  • Square Feet: 2,180
  • Price/SqFt: 138.76
  • 3 Bedrooms, 2.5 Bath
  • Built in 2006
  • This listing was hot on the market a few weeks back and was snatched up quick. But, it’s back on the market and ripe for the picking. This is a bank-approved short sale and ready to close. If you are looking for a high quality of life in a luxury community with TONS of amenities including free kayak rentals, fitness center, pools and tons of beautiful scenery, this is the place for you. This home is super nice and an absolute steal at this price. You could not build this quality at this price. You have to see this home.

Call us at 850-527-5651 to see these properties or for anything else you need regarding real estate in Panama City Beach.