We’re coming up on the Fourth of July weekend and the beach is buzzing………what recession? I have 5 contracts working and can see clearly what’s going to happen in the very near future. There are only a handful of resorts that I concentrate on, mostly because I think the area around Pier Park is where the most money will be made. But another reason is that if a resort has issues with their HOA, developer, or too many condos in short sale or foreclosure, banks will not lend money. There are land mines on the beach that don’t interest me.

I’ve analyzed my favorite opportunities and there is a gap between the lowest price condos on the market and condos that are more reasonably priced. Every time I see another contract on a “give away”, I tell myself we are one step closer to recovery. Buyers are going to notice this when they visit in the fall, and again next spring. All the “low hanging fruit” will be gone.

A good example is Sterling Breeze. Last August I sold 8 condos in Sterling Breeze for $260 a sq foot. The 1 bedroom condos we bought for $237,500 are now selling for $297,000 and $399,000. The 2 bedroom condos we bought for $354,900 are now selling for $439,000 and $441,000. A client bought a 3 bedroom end unit for $419,000 and the only one on the market is $565,000.

You can check prices yourself. Go to www.timfrench.net and click on the condo links on the left hand side of the page.

http://panamacitymls.net/BayReports/ListitLib/show_report.aspx?ID=7447619451

International buyers believe in Fla.

According to Gerson Lehman Group, international buyers believe the Florida housing market is poised for recovery. Read more.

Life’s a BEACH,

Tim French
Keller Williams
Success Realty
www.timfrench.net
850-628-3300
“It’s only a buyer’s market if you buy”
Harvey Glick

Last night we went to Spinnaker to see one of our favorite local bands, Gabby Johnson, play.  The band was great, as always, and there was a good high-energy crowd there.  We had a lot of fun. 

And thus begins a much more active and outgoing time of year…

Joining this group was a great idea!  The two men who organized the group are the owners of Freedom Sports on Thomas Drive (near the NAS Base) so they really seem to know what they’re doing.  They are giving me great tips to hopefully make my running easier and injury-free.  I appreciate having knowledgeable people helping me to become a better runner.  When I have the time, I plan to go to the store and have them help me find the right running shoes for me.  After all, if I’m going to make a serious habit of this, wearing proper shoes will make a big difference in my performance.

I really enjoyed the show.  I had actually assumed when I purchased the tickets that the show was affiliated with Cirque du Soleil.  While Jungle Fantasy did have many common elements to a Cirque du Soleil show, namely the amazing acrobatics, the story and presentation were very different.  It was the music that made me realize that there could not be an affiliation between this show and its more masterful name sound-alike.  I thought that the instrumentals were fabulous – I may have even fallen in love with the violinist.  The vocals were decently-sung but the songs themselves were not what I was expecting.  The vocalist was the character of mother nature and the songs were almost Sesame Street-ish tunes teaching the main character to respect nature.  I certainly don’t mean to disrespect Sesame Street by the comparison because while these songs were about personal growth, personality, and courage, the lyrics were all equally abysmal. 

The set was simple.  There were many “animals” that served no real purpose to the show, another thing that set it apart from a …du Soleil show.  However, the costumes were stunning - even the emus and frogs.  The performers were very able and impressive.  From the fun and fantastic jump-roping tricks at the beginning to the beautifully fluid contortionist reptiles, from the incredibly balancing giraffe-men to the ginormous strongmen gymnasts, each act was a true visual treat.  Overall it was a great show, although I wish I could have blocked out the horrid songs.

Tomorrow will be their Sunday morning Frank Brown park trail run.  I’m sure my husband will be there but I’m not so sure about giving up both of my sleep-in mornings.  Maybe I’ll rotate between the Saturday and Sunday run each week.

There are also Thursday runs over the Hathaway bridge.  I’m really looking forward to that one because the group socializes over dinner after running.  Although, as someone who grew up in flat Orlando, I’m a bit intimidated at the prospect of incline-running.

This weekend, we went ahead and tried Hana Japan.  It was not exactly what I was expecting.  Everything I had seen online made it sound like it was a true Japanese steakhouse with the chefs cooking at your table.  Unless there is a secret dining area in the back, this is not the case.  It is actually a quaint little Japanese diner, if you will.  There are about four tables inside to dine at and some more tables on the sidewalk for outside dining.  The experience is more like a deli/cafe where you order your food at the counter and pick it up when it is ready.  My husband and I kept it simple with teriyaki chicken and beef which were both good.  Our friends, the more adventurous diners, ordered a variety of sushi.  They said that it was all tasty and, most importantly, fresh.  Overall, it was a good dinging experience — nothing tremendously unique, but good food nonetheless.

My hope for our community is that the new year brings economic regrowth, especially as we get nearer to the completion of our fabulous new airport (which, as of yesterday, boasts 35% completion and 3.5 months ahead of schedule).   

Here’s to a safe, enjoyable, and prosperous year for all of us in Panama City Beach and around the world!

When we arrived, we found a good sized crowd milling around the outside corridor.  There were many seats set before the auctioneer’s podium.  In the lobby, there were booths set up and information packets available.  They also had an open-house format for people to go upstairs and walk through any of the condos on the list. 

The auction started around one o’clock, at which time we heard that there were nearly fifty registered bidders.  After the very long reading of the auction rules, bidding started on the 3 bedroom lockouts.  Only one unit in this group sold, at $270k or $166 per square foot including the buyer’s premium. 

The auction continued for close to an hour and the going prices ranged from $55k to $270k, before the 10% buyer’s premium.  The undeniable best-deal-of-the-day was a top-floor, gulf-view, 3 bedroom traditional unit that went for $200k, or $112 per square foot after the buyer’s premium.