As for the values on condos on the west end of Panama City Beach, you may want to read my last market update.
It also has graphs showing pricing.
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.
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-REALTORSÂ®
Prudential Shimmering Sands Realty, Inc.
400 S. Hwy 79
Panama City Beach, FL 32413
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
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.
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.
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.
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!
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.
The Schaffer Realty Group