Tag: panama city beach

Analysts say Northwest Florida already prospering

Assuming the current climate of the Florida real estate market, many investors are weary of St. Joe stock.  With it peaking at around $80/share in mid 2005, shares were at $42.30 this morning.  One thing that may not be as commonly known is the powerful position St. Joe is actually in.

If you remember a couple of weeks ago, I quoted Bob Toll in his “hunker-down” statement:

“You move from an expansion mode to protecting your balance sheet immediately. . .  Then you hunker down, build up your cash, wait for the blood in the streets and take advantage of the opportunities.”

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A Written Warning to College Spring Breakers

Mark Canfora, in his effort to reduce the harm brought by college spring break has requested that a “Disclaimer and Warning” be placed in all hotel rooms, condos, convenience stores, etc. as long as college spring break is promoted by the TDC.

He wrote a letter to the Mayor of Panama City Beach requesting that this issue be officially legally assessed on the ability of the city to actually carry out this plan, the letter reads:

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New General Manager at Edgewater Beach Resort

The Resort Collection of Panama City Beach, the largest rental management company in Panama City Beach, has announced the appointment of Tom Sparks as General Manager of the Edgewater Beach & Golf Resort. Sparks has a 17-year history with the Edgewater Beach & Golf Resort, having served most recently as Vice President of Association Operations. In that capacity, he worked with the Board of Directors of the various associations and his responsibilities included overseeing the maintenance of the physical properties, buildings and grounds.

Sparks is a long-standing member of the area’s hospitality industry. In 1981, he relocated from Fort Payne, Alabama to Panama City Beach where he and his family owned and operated a beach hotel property. He became active in the Bay County Hospitality Association (which later became The Greater Panama City Beach Chamber of Commerce), serving as President and on its Board of Directors. Sparks was a founding director of The Greater Panama City Beach Chamber of Commerce and has served as President of that organization as well. Along with other area hospitality leaders, he was instrumental in creating the present-day Tourist Development Council.

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Have Panama City Beach Condos Hit Bottom Yet? Probably Not.

From www.condosaletrends.com

Jason’s April 12, 2008 article titled “Have We Hit Bottom Yet?” implies that because there are no negative newspaper stories concerning the current real estate market, that we must be nearing the bottom. Jason quotes NAR chief economist, Lawrence Yum predicting “Notable Improvement” in 2008. I have been following Yum’s analyses and predictions from the months leading up to the top of the real estate bubble (mid to late 2005) up to his latest prediction. The thing that stands out about Yum’s analyses is that he has been 100% wrong on every prediction. We all want to believe that the bottom of this market cycle is near.

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Existing Home and Condo Sales up in March

Although the numbers are down from the same period last year, from February to March, the number of existing home and condo sales is up in Florida.  With 9,142 total existing single-family home sales in March, this marks a 10% increase over February’s 8,310 number.

Condo sales were up over 13% in March compared to February 2008 with 3,145 total sold, compared to 2,765 condos sold in February.

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4/18/08 CVB/TDC Marketing Committee Meeting – Smr 2008 Mrktng, Indian Summer Festival

9 of the 11 committee members were present. Absent were Debi Knight and Russ Smith.

President Dan Rowe and Peter Yesawich announced that Y Partnership has removed Barry Lott from the Summer Marketing Campaign assignment. Mr. Yesawich also apologize on behalf of the agency for the inappropriate derogatory name directed at audience member Charles Mason by Mr. Lott at last week’s Board meeting. It was not made clear whether Mr. Lott has been removed from all CVB business or just the current campaign.

Summer Marketing Campaign Changes

Mr. Yesawich presented the committee with the options available for the changes to the Summer Marketing Campaign approved by the Board at their last meeting. The program targets our traditional drive markets of Georgia, Alabama, and Nashville/Chattanooga for a 12 week period beginning May 4th and has three elements. The first is newspaper ads in 12 newspapers throughout Georgia (but not the AJC due to high-costs), the Nashville Tennessean, and 4 papers in Alabama.

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Pier Park North is almost ready to open

Old Navy is open (thanks Billy), and Aeropostale, Hollister, Borders, Bath and Body works, American Eagle, Chicos, NY&C, and more will be open first week in May. Tilly’s is also coming. For those of you that don’t know what Tilly’s is (I was in that catagory) it is a cool clothing store. I took a peek inside the windows this morning and saw Volcom, Roxy and other cool-guy apparel signs. Sweet!

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