Panama City Beach, FL

Foreclosures and bank-owned properties are on the minds of most every buyer looking for "a deal." Here's one in a golf course community; Colony Club in Panama City Beach, Florida. It's located just minutes from Pier Park, it's adjacent to Holiday Golf Course and it's a highly desirable Paul Sims Constructed home. At less than $121.00 per square foot, this foreclosure is priced less than any other similar quality home that has sold in Colony Club since 2003!

At $243,000, talk about a deal!!

Location, Location, Location!! This 3 bedroom, 2 bath home is located in the popular Colony Club subdivision, close to the Worlds Most Beautiful Beaches, Pier Park and the Holiday golf course. All 3 bedrooms are quite large, the master has a sitting area also. Other interior features include a fireplace and large dining room. The exterior boasts a screened in pool area and large back yard. Call today, this one wont last long

--Information deemed reliable but not guaranteed--Copyright: 2010 by the Bay County Association of REALTORS®
Prepared by Lynn Boyd of KELLER WILLIAMS SUCCESS REALTY

Lynn is a licensed Realtor in Florida and Georgia.

This lot is one of a few remaining in the desirable Seaclusion Beach subdivision. Bid-a-wee dedicated beach is just a short distance from the home site. Bring your plans and become a new resident. Close to golf, fishing, shopping and the new Pier Park. Easy access from front and back beach road. All sizes are approx please verify independently.

NORTHWEST FLORIDA BEACHES INTERNATIONAL AIRPORT www.newpcairport.com

Front view look in west at lot.

View of lot just past the Sago palms.

Another street view showing the neighborhood.

Hello all...

I had a very good question asked from one of my customers the other day, and thought it would make for good public knowledge...

We just had a closing at one of our High Pointe (Hwy 30A) units fall through due to financing. We were told that "hotel-like" properties are difficult to finance. Have you had any experience with this sort of situation?

The answer is....

YES, that is absolutely true. If your complex offers on site rental mgmnt, or short term (nightly) fees...it is now classified as a "Condotel" through a lender's eyes!
This has been a big problem in this area, because the only terms you can get on these type units right now have higher rates and require 20-30% down...Also, it is almost impossible to get a FIXED rate on these making it even less attractive for buyers. I believe this is one of the main reasons that the condo market is so saturated! It almost takes a cash buyer...
There are only a handful of developments in PCB that qualify as NON-Condotels...and I mean like 3!! They all do not offer short term stay options and do not have rental mgmnt companies. They are more like residences...

Hope this answers some of your questions regarding this very relevant issue in our area. For more info and answers visit www.freepanamacityhomesearch.com

Remember how good it feels to swim in the warm waters of the Gulf of Mexico... soaking up the sunshine on the sparkling white sandy beaches of Panama City Beach, FL? It can't stay freezing cold forever! Spring will be here soon ... come to "The World's Most Beautiful Beaches."