Episode #15 – Waterfront Townhome with 2 Boat Slips and Xtra Lot

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

This week we feature three waterfront DEALS that are phenomenal. Folks, there are so many great deals right now in Panama City Beach, if you’re on the fence, now’s the time to hop off on the Beach Side. Give us a call and we’ll get you in something special.

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 – Waterfront Townhome with extra lot and 2 Boat Slips – Only $199,000

List Price: $199,000
Square Feet: 1,475
Price/SqFt: $134.92
3 Bedrooms, 2.5 Bath
Built in 1986
This townhome has been completely redone and looks fabulous. You need to do nothing to start using this perfect piece of paradise. Included in the price is an extra lot and two boat slips, one of which is covered with a boat lift. The entrance to the waterway this property is on is only 12 minutes from Shell Island. The owners own Lighting Etc. so all the lighting fixtures are high-end and look awesome. I never realized how much this dresses a place up. This place is an absolute steal at this price.

Deal 2 – Huge 3,600 sf Tri-plex Set on a Lake with Gulf Views – $83 per foot

List Price: $299,000
Square Feet: 3,600
Price/SqFt: $83.06
5 Bedrooms, 3 Bath
Built in 1987
This is a huge detached single family home that splits into three separate units. The first floor needs some work, but the unit on the second floor and the unit on the third floor looks ready to use. This place is at the end of a dead-end street that is only accessible by driving by our wonderful Gulf of Mexico, which you have great views from the back porch of this home. This place also sits on a little lake with a huge deck right on the water with plenty of room to store your canoes.

Deal 3 – Gulf Front Condo in Celadon for only $299,500

List Price: $299,500
Square Feet: 1,157
Price/SqFt: 258.86
2 Bedrooms, 2 Bath
Built in 2007
Celadon is one of the most beautiful condo resorts on Panama City Beach. With a solid rental history and a premier location on the west end of Panama City Beach, Celadon is perfect if you’re looking for something sophisticated, yet fun. We weren’t able to get in this unit today, but we got some good footage of the property. Please call us if you want to get into this beautiful condo.

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

4 Common Questions About Short Sales

Not only have I gotten phone calls about short sales this week but I find myself struggling over interpretation of short sale protocol. So many questions and so many varying answers it is hard to determine what the exact course of action should be. A customer called me tonight concerned that her short sale offer was going to be bumped by a higher offer, but according to all that I am reading and studying her offer should be the only offer on the table at the time. Any other offers that come in should be considered back up offers and will only be addressed when the first signed offer is disposed of. This week I am going to answer some pressing questions that I have been presented with and will do so with the help of our good ole FAR guidelines and MLS rules which I need to add are still our benchmark.

Q. What is the short sale addendum and what is the ruling force? And, furthermore, this form or our MLS and FAR guidelines?
A. If you have done a short sale or if you know someone who has then you know you will be asked to sign a FAR Short Sale Addendum that says the seller may “accept other offers and submit them to the lender.” This does not mean that all offers are presented at the same time and the bank chooses the best one. According to FAR the addendum is designed so that the seller may continue to solicit offers and hold them in a a back-up position. The contract on the table is considered complete other than the contingency of lender approval with seller acceptance. Another important protection in the addendum is the pronouncement that the sale is contingent on the seller agreeing to the lenders conditions.

Q. Why does a potential sale show up as contingent instead of pending in the MLS?
A. Although the contract has been signed by the seller and the buyer it is considered contingent upon lender approval. It will become pending once the bank has accepted the short sale and the usual closing procedures such as appraisals and inspections begin. Our MLS rules and not the addendum give us Realtors our direction in this matter. There is still debate among Realtor sometimes on how to apply this rule.

Q. What is the purpose of a back up offer and are they worthwhile?
A. There was a time in the market that people would fight over a property so back up offers were used quite frequently and now they are used again but with a different end in mind. Because of the precarious nature of short sales a back up is a great idea because many times the buyer gets leery of waiting and decides to move on to something more reliable. I have had more sales fall out in the last 2 months than I have had in all my years of being a realtor. For this reason I love a back up offer and so does your seller and the new buyer is delighted as well.

Q. How reliable are the Realtor Remarks in determining what a lender will take for a short sale?
A. I will say a big hardy NO to that one. Keep in mind that Realtor remarks are put in when the listing was taken and many things can change in the course of a listing especially a short sale listing. It is almost impossible to know up front what a bank will take until they have already gone through the process with another offer. Your best bet is to call the Realtor and ask her questions about her ideas of what a reasonable offer would be based on offers turned down and her assessment of the market value. Many times you do not have a handle on the price that a bank will take until they do their own BPO (brokers price opinion). Many times prices on Short sales are really abstract in that no one really knows what the “loss mitigation “department will take.

I love how real life keeps throwing me curve balls and challenges to be met each week. Please be patient with your Realtor as she helps you wade these waters for they are uncharted for all of us and we are learning as we GROW!!! I am grateful that I am surrounded by some really smart Realtors that keep me on my toes so know that we are NO experts….. just hard working folks looking for the best way to serve our community and each other.

New Dive Center Grand Opening This Thursday

You may remember an article I wrote about Lord’s Gym a few months ago detailing how positive and awesome their facilities and programs were for Panama City Beach. Well this Saturday, July 25th, they’ll be adding another feature that will raise the level of awesomeness to a whole new place.

The Lord’s Gym Dive Center, located at 1616 Allison Avenue, will have a grand opening complete with free air fills for all you divers, hot dogs and a bounce house for kids and even drawings for Scuba Pro giveaways. Lord’s Gym Dive Center is full service, providing all the dive equipment you could want as well as classes ranging from Discover Scuba to Advanced Open Water.

As with the very positive theme at Lord’s, every month a percentage of the Lord’s Gym Dive Center’s proceeds will go to a different charity. So if you are a pro diver or a novice, you’ll want to check out the grand opening or stop by the store for all your diving needs. If you’ve never taken a dive in your life, there’s something at Lord’s Gym Dive Center for you too. On August 8th, the Discover Scuba Diving course, a diving lesson for newbie’s in a pool, will be free to the public. All you have to do is sign up and get a full diving experience; try on diving gear, breath underwater and swim. This course is worth $35.00, but on the 8th it will be totally free. That’s right, another FREE service held by Lord’s Gym.

To sign up for the Discover Scuba Diving, just call 850-249-2001 or email Misty at lgdc@knology.net.

The Grand Opening Event for Lord’s Gym Dive Center will be on Saturday July 25th and will go from 8:00 AM – 7:00PM.

Twitter Weekly Updates for 2009-07-21

stay tuned for the billfish final results and timelapse video on http://www.pcbdaily.com! #
Bay point billfish video in panama city beach http://twitvid.com/E8833 #
no weigh-in blue marlin caught, although a couple white marlin video’s were turned in. #
bay point billfish panama city beach winners: tuna peter bos 119.5, wahoo grant nicholson 33, dolphin August Redding 32.1 #
Just heard someones bringing on 100ls tuna battery is dead. Signing off! #
Tounament director Scott Burt just told me that this is only the third time in the history of the event that they’ve closed. #
Tons of people at bay point billfish. http://twitpic.com/auhmc panama city beach. #
@jerryeyler I’m shooting timelapse. I’ll be up on the front in a min and tweet one. in reply to jerryeyler #
They just annouced that they cannot fit any more people in the bay point marina area. #
50+lbs tuna bay point billfish. Panama city beach. #
I’m in at the bay point billfish invitational in panama city beach. #
Let’s see if my trusty media pass gets me in tonight. #
@SamanthaBA #harrypotter couldn’t agree more. Always disappointed with the parts they choose to leave out. in reply to SamanthaBA #
Heading up to the bay point billfish tourney in panama city beach. #
http://www.pcbdaily.com for Panama City Beach news and information about real estate, growth, and tourism. #
@tracej billfish at the bay point marina. Huge party there. in reply to tracej #
Boats leaving now at the bay point billfish invitational in panama city beach. #
I’m at Hatteras Ln & Marriott Dr, Upper Grand Lagoon, FL , United States – http://bkite.com/09G7Z #
Crowds are heavy at the bay point billfish invitational in panama city beach. #
Shooting timelapse at the bay point billfish invitational on panama city beach. #
Shooting timelapse at the bay point billfish invitational in panama city beach. http://twitpic.com/alda3 #
@E_Wall RT @NationalDebt $11,579,428,713,952.53 whoa! thanks obama for your enthusiastic contribution! in reply to E_Wall #

Record Crowds but No Blue Marlins at Bay Point Billfish Invitational

Drawing record numbers, the 2009 Bay Point Billfish Invitational brought everything except Big Blue herself. Last year, the tournament went to an all catch-and-release for Blue Marlin, changing the way it had always been done. This year, they went back to the good ‘ol method of what you catch, you bring in to weigh, except this year, nobody caught any Blue’s, just the blues.

“We had 67 boats registered this year,” said Tournament Director Scott Burt, “I would have liked more, but 67 is a great number considering the state of the economy. We have salesman, developers, hotel owners, I mean, what industry hasn’t been hit?”

As I was running around taking pictures and taking notes, it was commented to me that they may have to shut the gates down. At around 8:30, there were so many people in the “spectator” area that one couldn’t move through it, posing somewhat of a threat, actually. Not 20 minutes later, there was an announcement by Scott Rossman, the MC of the event as he was talking to all the people in TV land, live about the tourney, that if they were planning on coming out, that they wouldn’t be able to get in as they closed the gates to all guests. Scott Burt, Tournament Director, told me that this was only the third time in the history of the event that they had to do this.

Not exactly record-weight fish were brought in, but a few walked away with pocketfuls of cash, including Peter Bos of Destin, who brought in the winning Tuna weighing in at 119.5 lbs, netting him over $36,000. The evening was relatively uneventful literally until the last 20 minutes of weigh-in when the first and second place Tuna were brought in along with the first place Dolphin. At one point, the channel feeing into the marina was congested with millions of dollars worth of yachts ancey to get their weigh-on.

Seas were a little rougher than had been forecasted and many of the anglers had said that most of their trip at sea was accompanied by rain and cloudy weather. Was this the cause of not only fewer fish, but smaller fish as well? Were the giants looming too deep to find this year? Well at least one thing’s for certain, many records still remain unbroken.

Final numbers:

Invitational – Saturday July 18, 2009

Tuna

Peter Bos, Legendary – 119.5 lbs
Paul Murdoch, Team Charles 50 – 90.3 lbs
Jared Roberts, Mollie – 51.3 lbs

Wahoo

Grant Nicholson, Life is Good – 33 lbs
Peggy Ann Hudson, Iona Louise – 20.3 lbs

Dolphin

August Redding, Dream Wake II – 32.1 lbs
Grant Nicholson, Life is Good – 27.5 lbs
Mark Griffin, Britney Jean – 26.3 lbs

40/40 Shootout Tournament – Friday July 17, 2009

Wahoo

Monty Ferrell, Just One More – 29 lbs
Collins White, The Dirty 38 – 21.0 lbs
Rick Thompson, Frig It – 23.5 lbs

Tuna

Mark Crone, A-Loan Again – 56.1 lbs

Dolphin

Monty Ferrel, Just One More – 20.5 lbs
Jeremy Sprenkle, Wideopen – 24.0 lbs
Mark Datelle, Wideopen – 23.8 lbs

Al Hubbard Kids Fishing Experience

Team Osprey – 10.1
Team Cast-A-Way – 6.8
Team Adios – 5.1
Team Reel Fun – 7.7
Team Premier – 6.0
Team Cool Breeze – 4.0
Team B&T – 42.9
Team Boxfull – 4.2
Team Floridaze – 7.5
Team Fishbones – 8.7
Team JOE – 10.5
Team Southern Dawn – 4.7

Economic Development Potential for New Airport

Commerical Property News’ CPN Online has published an article detailing the economic development potential of the new Panama City – Bay County International Airport.

According to CPN Online:

Most of the country is waiting for the economy to turn, or even for the federal stimulus to have some measurable effect on local economies, but at least one part of the country has a third option. In the Florida panhandle, in particular the Panama City area, a new international airport–under construction, scheduled for completion next year–promises economic stimulation, both in terms of business growth and real estate development.

“A new business community will be able to grow around the new airport in a way that’s impossible around the existing airport, which is too small and too hemmed in for further expansion,” Randall S. Curtis, executive director of the Panama City-Bay County International Airport, told CPN. “But the long-term impact will involve more than development in the immediate vicinity of the airport. The entire region stands to benefit.”

The full article can be read here.

Source: www.newpcairport.com

Jason Koertge, PcbDaily Featured in 850 Magazine

None other than your’s truly was featured in the summer edition of one of the area’s newest and hottest business magazines, 850. Dubbed “The Business Magazine of Northwest Florida,” I like to call 850 the Fortune for the Panhandle and is published by Rowland Publishing, who also publishes Emerald Coast Magazine and Bay Life Magazine. With feature articles that are applicable to me as a small business owner, it has always been a good read.

Pick yourself up a copy, and turn to page 71. The photographer had me doing all kinds of fun stuff, and the picture they ran with is of me sitting on a street corner, seemingly meditating in Sage pose, balancing my video camera and DSLR. The photograph has me looking more narrow than I think I look naturally – but it was fun none-the-less.

“One part blog, one part news Web site and one part community forum, pcbdaily.com is a hybrid on the cutting edge of the online new medium,” it begins. Talking about pcbdaily, what I’ve done to create it, how it’s grown and where it’s going, the article is flattering and seems to elevate me in a way perhaps I’m too modest to do myself. Thanks Rowland!

850 comes out quarterly right now, with the goal of being a monthly in the next 12 months and features articles about little people like me and big people like Bud Finlaw, owner of BookIt.com and covers a range of business topics. So, head on over to 850BusinessMagazine.com and subscribe.

Bay Point Invitational Tournament Schedule

Kicking off this week, the Bay Point Billfish Invitational Fishing Tournament is back and with it, the Weighed Blue Marlin category returns as the most popular category of the tournament for both anglers and spectators alike. With more than 10,000 spectators expected, vendors everywhere and boats everywhere, this year will truly be a year to remember.

The tournament has already kicked off Wednesday with a special trip for two combat-wounded U.S. service members for the second annual Soldier Salute. According to a press release today:

U.S. Army Staff Sergeant Deane Messex and Sergeant Philip Gonzales were joined by local Bay Point resident and retired Army officer Dean Resch for a day of fishing in the Gulf on the 74’ Viking Game On courtesy of Galati Yacht Sales and the Washington, DC based Freedom Alliance.

The highlight of the fishing trip was when SSG Messex landed a 62.9-pound cobia! In the evening, the soldiers and their families enjoyed dining on their catch but the best part for the soldiers was knowing that their service and sacrifice is appreciated by grateful Americans.74-foot Viking Game One with veterans aboard.

Yachts have been arriving since yesterday for registration today with the official tournament kick-off to fire off tonight at 10 pm by the ceremonial Flare Gun start at the mouth of St. Andrews Pass.

You can keep an eye here for updates on the tournament, or you can mosey on over to www.baypointbillfish.com.

Tournament schedule below. Cast away!

Thursday July 16

4:00pm	Jet Flyover – Kicking Off the Opening of the 2009 Bay Point Invitational is a Jet Flyover from Tyndall Air Force Base!
5:30pm–8:00pm	Tournament Team Optional Entry continues in the foyer of the Bay Point Marriott.
5:00pm–11:00pm	Festival on the Docks! Boat Show, Tournament Village, Taste of the Town, Artist Colony, Great Music and Kid’s Play Area.
5:30pm–6:00pm	PRIVATE – Mandatory Captain’s Meeting (Invitational & 40/40) located at the Bay Point Marriott on the Grand Lagoon Deck. Shuttles provided from Bay Point Marina.
6:00pm–8:15pm	PRIVATE – Kick-Off Party in the Grand Lagoon Ballroom, Bay Point Marriott, sponsored by Ample Energy. Live music, great food and drink, silent auction and door prizes. Shuttles provided from Bay Point Marina.
5:30pm–9:00pm	Rock Lobster performs LIVE on the Clear Channel Entertainment Stage.
9:00pm–9:30pm	Opening Ceremonies. Presenting of the Arms and Colors by the J.R. Arnold Navy ROTC Honor Guards and sSinging of the Star Spangle Banner by Neysa Wilkins.
9:30pm	Traditional Firing of the Bay Point Cannon and our spectacular Boat Parade.
10:00pm	Official Start of the Tournament signaled by a Flare Gun start at the mouth of St. Andrews Pass.
10pm–11:30pm	Nashville’s Rising Star, Singer and Songwriter Joanna Smith performs LIVE on the Clear Channel Entertainment Stage.
11:30pm	Keep the Party going at Lime’s Bayside Grill and Restaurant on the Grand Lagoon!

Friday July 17th

11:30am–4:45pm	Al Hubbard Kids Fishing Experience
4:45pm–5:45pm	WEIGH-IN—KIDS Can’t Miss Weigh-Ins for the Al Hubbard Kids!
5:00pm	Meet Miss Billfish, Jessie Lee!
5:00pm–11:00pm	Festival on the Docks! Boat Show, Tournament Village, Taste of the Town, Artist Colony, Great Music and Kid’s Play Area.
6:00pm–11:00pm	PRIVATE – VIP/Sponsor Area opens adjacent to the Weigh-In area sponsored by MTU and Florida Detroit Diesel-Allison.
6:00pm–10:00pm	WEIGH-IN—40/40 Scales officially open and Weigh-Ins begin for the new 40/40 Shootout
6:00pm–11:00pm	WEIGH-IN—INVITATIONAL Weigh-Ins for the Billfish Invitational … and the possible return of Big Blue!
11:00pm–Closing	Keep the Party going at Lime’s Bayside Grill and Restaurant on the Grand Lagoon!

Saturday July 18th

5:00pm	Meet Miss Billfish, Jessie Lee!
5:00pm–11:00pm	Festival on the Docks! Boat Show, Tournament Village, Taste of the Town, Artist Colony, Great Music and Kid’s Play Area.
6:00pm–11:00pm	PRIVATE – VIP/Sponsor Area opens adjacent to the Weigh-In area sponsored by MTU and Florida Detroit Diesel-Allison.
6:00pm–10:00pm	THE BIG SHOW! Weigh-Ins begin for the Bay Point Invitational. Release Videos and instant results posted on the Big Screen
7:00pm–10:00pm	LIVE Telecast of the Weigh-Ins on WJHG MY 7 and LIVE Webcast on WJHG.com.
11:00pm–Closing	Keep the Party going at Lime’s Bayside Grill and Restaurant on the Grand Lagoon.

Bay County Leadership Class to Create Ecotourism Map

The 26th class of the Bay County Chamber of Commerce Leadership Bay program has produced a BAY COUNTY ECOTOURISM MAP as its class project.

Each Leadership Bay Class is expected to develop a project that will benefit the Chamber and Bay County as part of the nine-month course curriculum. This year’s class chose to create an eco-tourism map that would not only highlight one of the fastest growing sectors of the tourism industry, but also provide an informative guide enabling locals and visitors alike to enjoy the wide range of eco-related natural areas and outdoor activities accessible in Bay County.

The map identifies and gives short descriptions of sites for Walking, Hiking, Biking, Equestrian, Boating, Canoeing, Fishing, Shelling, Bird Watching, Wildlife and Nature friendly parks. The map also includes Global Positioning System (GPS) coordinates for easy navigation to the locations. Sections of the map also highlight some of the jewels of Bay County: Pine Log State Forest, St. Andrews State Park, Econfina Creek, Bay County Dive Sites and Tyndall Air Force Base. Contact the Bay County Chamber of Commerce, the Panama City Beaches Chamber of Commerce or the Tourist Development Council for your copy of the BAY COUNTY ECOTOURISM MAP.

The Leadership Bay Class of 2008-09 would like to thank the following sponsors for their commitment to the BAY COUNTY ECOTOURISM MAP: Tourist Development Council/CVB, Dan Rowe; Economic Development Alliance (Bay County Chamber of Commerce); Boyd Brothers; Gigli Enterprises; Diver’s Den; Edgewater Beach and Golf Resort; Bay Medical Center; Robert Cutler Photos; Ecological Resource Consultants; Angelo’s Steak Pit; Bikini Beach Resort Motel; SunJammer, Brad Stephens; St. Joe Company, Kevin Smith; Vision Bank; the Leadership Bay Steering Committee; and the Bay County and Panama City Beaches chambers of commerce.

Old Deals – BACK ON THE MARKET

We’ve decided to do something different this week. Going through our old episodes, seeing what’s available or back on the market, we’ve found three very special deals that are back on the market. These are deals that were so hot they sold quick, but for one reason or another the deal fell through and they are back on the market. So, without further ado:

Deal 1 – Waterfront Wild Heron Condo for only $249,000

Let me start out by saying that this is waterfront, not gulf-front, there was some confusion on this last time. But, with that said, this condo is in the popular and truly one-of-a-kind gated Wild Heron community and is in immaculate condition. This condo at one point sold for $800,000. Now, I know that what something sold for at one point means nothing, but just think about this for a second. In order to command a price tag of that much a few years back, these condos had to be top of the line and the nicest of the nice. If you are looking for truly luxury living, Wild Heron is the place to be, what’s more, this place has just been reduced from $289,000 to $249,000! Here’s the video, you’re looking for deal number 3.

Notes for the Wild Heron deal:

List Price: $249,000
Square Feet: 1,711
Price/SqFt: 145.53
3 Bedrooms, 3 Bath
Built in 2004
We are no strangers to Wild Heron, and that community is so HOT right now with over 12 closings in there so far this year. Of course, with prices like this, its no wonder, these condos are top notch, from the ground up. And the community is second to none in Panama City Beach, truly one-of-a-kind with superb amenities that emulate a lifestyle that at one point would cost you close to a million dollars to buy into. This condo is a one-owner, live in that has been spectacularly taken care of. This is a short sale listing, that is actually Karen’s listing, and I’ve been told the bank is being very communicative.

Deal 2 – Splash, Gulf-front for only $254,900

The first deal is a condo in Splash, well known for the family-friendly atmosphere and the fun, covered water-slide area for the kids. Located on the quiet west end of Panama City Beach, this is a great condo for rentals. Here’s the video (it is deal number 1):

Notes for the Splash deal:

List Price: $254,900
Square Feet: 1,074
Price/SqFt: $237.34
2 Bedrooms, 2 Bath
Completed in 2006
Splash is well known for its stellar occupancy rates. The first summer season it was open to the public (I think 2007) I interviewed the GM of the onsite rental manager and he said they averaged 90% occupancy all summer. This is a foreclosure listing and the cheapest in the building (per sf). The condo is in good shape, although it needs some appliances. You’re paying for the amenities and the best rental capability on Panama City Beach.

Deal 3 – 2 bed 2 bath Gulf-front for $200,000 – wow!

Ok, so talk about a smokin’ hot deal. This is a gulf-front condo at Sterling Reef (at the end of Alf Coleman Road, that Shipwreck Island Waterpark is on) in central Panama City Beach that comes fully furnished and ready to rent. And at $200,000, you just can’t beat this deal. Sterling Reef is adjacent to the new county pier that’s quickly growing into the gulf, set to be complete by this time next year. In addition, you have around a quarter mile of white sandy beach to the west that is county owned and won’t be built on. Here’s the video, look for deal number 3:

Notes for Sterling Reef:

List Price: $200,000
Square Feet: 1,076
Price/SqFt: $185.87
2 Bedrooms, 2 Bath
Completed in 2005
This two bedroom two bath gulf-front condo in Sterling Reef comes fully furnished and rental ready for only $200,000. If you are looking for something right in the middle of all the action that’s ready to rent as soon as you close, this is the one for you. This is a short sale listing and we should note that there is a third party short sale negotiator involved that requires a 1.5% buyer fee paid to “The Short Sale Guru”, which, if sold for $200k would only be $3,000, still cheaper than anything else listed in this building.