PCB Fall News 2012

By Tim French in ARCHIVE newsletters.
Greetings from THE BEACH.
 
For the last two years I’ve been “fully engaged” in following polls, speeches, debates, commentary, and emails concerning politics and the election. The results of that emotional strain were, to put it mildly, disheartening. After a couple of days in severe depression, I made up what was left of my mind to ignore anything that had to do with politics and focus on the good things happening in my world here on the beach.
 
Turns out, I’m happier and sleep better.
 
Two closings and a contract on another condo have brightened my mood. Here’s a nice note from a new owner.
 
Tim,

Jamie and I looked all over the Panhandle for a beachfront investment before we stayed at AQUA. We immediately knew this is where we wanted to be. Thanks for your expertise in helping us make our vacation home dream come true. I’ve been asked by some of my colleagues about Panama City Beach and feel comfortable sending them your way. I know you’ll help them like you did us.
Dr Bob Jantz,
Nashville
The weather has been fantastic and I’m very enthused about the prospects for the new year. O’Reilly and Limbaugh, I’m going to miss you, but I’ve got miles of sand around me and I’m going to do my best to bury my head as far down in it as it will go.
 
The growth of this area is constantly making news. Southwest has added a direct flight from St. Louis, and the airport is reporting revenues far above original forecasts. Work is underway on another covered parking area.
The bed tax on rentals sets a new record every quarter. The new WALMART will be completed at the first of the year and it is now confirmed that it will be a SUPER WALMART, with a gas station on the property. Panama City Beach will be the only city of 12,000 people with 2 WALMART’s within 5 miles of each other! Let that sink in and consider the research that went into that decision…………
 
Construction of the new amphitheater is well underway and might be finished in time for the New Year’s Eve party in Pier Park. Pier Park North is starting to create a buzz. Simon Development is not involved, but the new developer has information on their website on the businesses that have signed leases, and prospects for the new development north of Pier Park. Take a look at Pier Park North in the early stages. There is local pressure to bring in some retail with a more local flavor, but this is a good start.
 
As an owner I always like to see how AQUA compares to the competition on the beach. I spend a lot of time talking with the guys that run the beach service, Dusty and Damon. In fact I found that helping them set up and break down the chairs is a good workout, and has several other benefits.
 
These guys, and Nancy in the snack bar, are a real asset to AQUA. They are courteous, personable, and take good care of their clients on the beach. They tell me that all the guys that work for Jeff want to be at AQUA. The reason why is that the people that stay at AQUA are just nicer and tip better than most of the other resorts. In fact there are some resorts close to Pier Park where the guests can be outright rude and cheap.
 
I think that says a lot about AQUA and a welcoming atmosphere most conducive to encourage a return visit. Of course the beach service is over for the year, but be sure to thank the guys for doing such a great job.

AQUA rentals are getting a huge boost from the trend in education to lengthen the school year and have fall and winter breaks. The building and the beaches were full during the recent months, and the beautiful emerald water and blue skies will encourage those visitors to come back next year. 

There has been a concerted effort in the area to fill in the shoulder season with events and festivals to prolong the rental season. Owner’s are now complaining they can’t get into their condos because they are constantly occupied. My solution is “buy a spare” condo, and several owners have done just that!

I could say that the buyers have called it quits for the year, but I’m always surprised at the end of the year. The last 2 sales I’ve had were over $260 a square foot, and I anticipate that prices will continue to trend upward. I get a couple calls a week by owners inquiring what their condo would sell for in this market and when I give an estimated value, they will generally say their rentals are great and they’ll just hold on.

In fact, the inventory on the beach has dropped dramatically. Here’s what’s available in AQUA on the MLS.

 

506607 – Details: 15625 FRONT BEACH RD, #905, PANAMA CITY BEACH, FL – $325,000
502836 – Details: 15625 FRONT BEACH RD, #1004, PANAMA CITY BEACH, FL – $329,750
506670 – Details: 15625 FRONT BEACH RD, #304, PANAMA CITY BEACH, FL – $330,000
503007 – Details: 15625 FRONT BEACH RD, #2207, PANAMA CITY BEACH, FL – $375,000
371151 – Details: 15625 FRONT BEACH RD, #2004, PANAMA CITY BEACH, FL – $465,000
375795 – Details: 15625 FRONT BEACH RD, #307, PANAMA CITY BEACH, FL – $494,900
507021 – Details: 15625 FRONT BEACH RD, #1809, PANAMA CITY BEACH, FL – $568,500
373297 – Details: 15625 FRONT BEACH RD, #607, PANAMA CITY BEACH, FL – $570,000
373299 – Details: 15625 FRONT BEACH RD, #1002, PANAMA CITY BEACH, FL – $770,000Or Click Here to go view all listings at once.
Tim French Keller Williams Success Realty 850-628-3300

I am the only agent for most of the condos I sell. That creates  significant savings for both the seller and the buyer. In fact I have several condos for sale that the owners choose not to list and allow me to find the buyer through my marketing efforts. You’ll notice there are no 1 bedroom condos on the MLS. I have 3 ready to sell when the right prospective buyer comes along.

There is also some opportunity to purchase several 3 bedroom condos at very attractive prices. Here are links to condos for sale not on the MLS.

AQUA 1007 2 br 2 bth w/bonus room 1273 sq feet.

http://aronov-aqua.vrmreservations.com/vrmgr/rental/DetailPage.aspx?PropertyId=101&WebCode=2bed&ReturnPath=/vrmgr/search/WebGroupList_2bedrooms.aspx

AQUA 1207 similar floor plan

http://aronov-aqua.vrmreservations.com/vrmgr/rental/DetailPage.aspx?PropertyId=95&WebCode=2bed&ReturnPath=/vrmgr/search/WebGroupList_2bedrooms.aspx

AQUA 1208 1 br 2 bath w/bonus room 1104 sq feet

http://www.bluesunproperties.com/panama-city-beach-vacation-rentals/1208-aqua-beachside-resort.html

AQUA 1206 1 br 2 bth w/bonus 1010 sq feet

http://www.bluesunproperties.com/panama-city-beach-vacation-rentals/1206-aqua-beachside-resort.html

AQUA 2101 3 br 3 bth 1823 sq feet

http://www.bluesunproperties.com/panama-city-beach-vacation-rentals/2101-aqua-beachside-resort.html

Happy Thanksgiving! GOBBLE GOBBLE GOBBLE

 

Life’s a beach,
Tim French


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