Home Buying in 32413>Question Details

Steve, Home Buyer in Atlanta, GA

how are values in the west end of panama city beach trending for 2 br 2 ba gulf front condo's...older units,

Asked by Steve, Atlanta, GA Sat Apr 12, 2008

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A new short sale at Emerald Isle just came on the market at 239k. It is unit 1207.
As for the values on condos on the west end of Panama City Beach, you may want to read my last market update.

http://blog.panamabeachrealty.com/panama-city-beach-real-est…

It also has graphs showing pricing.
0 votes Thank Flag Link Wed Feb 27, 2013
Hi Steve,

The best deals are found by making offers.

No one can tell a seller's motivation from one day to the next. Vivian and I counsel our buyers to choose a building they like. Then choose their favorite unit and we make offers. Sometimes the buyers get what they want and sometimes they dont. If we cant come to terms we move on to the next unit.

The following link will show you everything available in Emerald Isle.

http://panamacitymls.net/BayReports/listings.asp?ID=2986540746

Please let us know your thoughts and if you have any questions.

Kind regards, Mike Foate
~~~~~~~~~~~~~~~~~~~~~~~~~~
MIKE'S CELL: 850-596-4236
VIVIAN'S CELL: 850-814-2372
~~~~~~~~~~~~~~~~~~~~~~~
Mike and Vivian Foate-REALTORS®
Prudential Shimmering Sands Realty, Inc.
400 S. Hwy 79
Panama City Beach, FL 32413
0 votes Thank Flag Link Sat Sep 13, 2008
actually, I'd be interested in Emerald Isle, we rented there recently. Are those resonably priced? can I get a good deal?
0 votes Thank Flag Link Sat Sep 13, 2008
Hey Mike! No worries, it was the weekend! :-)

Yeah, I can't believe that price. That was a REALLY nice unit!
0 votes Thank Flag Link Mon Apr 14, 2008
Steve, Joanie is correct. I had my numbers wrong for Pinnacle Port. My apologies to you and Joanie. I was in too much of a hurry.

Kind regards, Mike Foate

P.S. A 2 bed/2.5 bath 983 sq.ft. sold in Pinnacle Port for $205,000, Close Date: 04/11/2008
0 votes Thank Flag Link Mon Apr 14, 2008
"the least expensive Gulf front 2/2 in the MLS today is price at $329K and is 1146 sq. ft. , approx. $287/sq. ft in Emerald Isle"

According to our research there is a 2 bedroom, 2 and a half bath at Pinnacle Port unit for $259,000.

In addition, I don't think he is interested in Emerald Isle since this is a newer development - finished in 2005. I don't think Splash is relevant either, due to this also being a newer development completed in 2006.
0 votes Thank Flag Link Sun Apr 13, 2008
Hi Steve,
W/ regard to 2/2 Gulf front condos in Panama City Beach on the west end...we list and sell quite a few condos...the least expensive Gulf front 2/2 in the MLS today is price at $329K and is 1146 sq. ft. , approx. $287/sq. ft in Emerald Isle. There are currently 61 units on the market. The most expensive 2/2 in Splash 1505 sq. ft, listed at $635K and $421/sq.ft.

The oldest unit is 1974 built Pinnacle Port 2/2 1026 sq. ft. $438 price/ sq. ft., asking $450K.

If you want to get an idea as to trends we'll be happy to set you up on an automatic search in the MLS specific to your criteria and needs. When that is done you get an automatic email directly from the MLS whenever a new condo comes on the market, if there is a price change or if something goes pending or get sold.

You can search most of the Gulf front condos directly from our web site. Including short sales and foreclosures.
Web Reference: http://www.vivianfoate.com
0 votes Thank Flag Link Sat Apr 12, 2008
Oh Steve,

To add to my last comment, there are currently two pending units that are at an older condominium in the west end. One was listed at $240,000 and the other at $375,000. Unfortunately, we do not know what the contract price until the units have closed.

The only sold at and older development in the west end, since the first of the year, was at Seachase and it sold for $300,000.
0 votes Thank Flag Link Sat Apr 12, 2008
After researching your criteria, most of what is currently active in the west end of Panama City Beach with two bedrooms (for older condominiums) looks to be in the $259,000 to $370,000. Even though prices in our area have declined, I'm inclined to think that the prices may plateau over the spring and summer season as more buyers are looking at buying at this time, and in the west end. There may be slight declines, however, I don't think it will be much. Now that Pier Park is open, the 32413 zip code is a great place to buy.

If your ever in the area Steve, we would love to speak with you. Our office is located in the west end of Panama City Beach. Do you know where the Beach Commerce Park is, off of PCB Parkway? Let me know when you come down!
0 votes Thank Flag Link Sat Apr 12, 2008
Dear Steve,
You can get a lot for your money in West Panama City Beach right now. To answer your question, values are very reflective of the entire state across the board. Prices are down 10-20%, in some areas like the Treasure Coast, they are beginning to level off. Some areas like Miami still have room to drop. Panama is in the middle, maybe room to drop, however there are enough sellers willing to deal so you can get in for bottom prices. Give me a call or email me and let me know what you are looking for.
Marian Schaffer
The Schaffer Realty Group
terry@marianschaffer.com
877-886-8388
0 votes Thank Flag Link Sat Apr 12, 2008
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