Shores of Panama Resort: Worst resort ever don’t stay here! This one time charge will provide your party with pool wristbands and 1 parking passes. In this condominium governance dispute, the trial court temporarily enjoined the collection of assessments for anticipated non-recurring legal and engineering fees of $525,000 that a condominium association, the Shores of Panama Resort Community Association, adopted at a special meeting held after its annual budget had already been adopted. Perhaps the Shores’ of Panama’s greatest feature is its gulf-front, 13,965 square foot lagoon pool and hot tub. View Reviews (1) Shores Of Panama Resort Community Association, Inc. is a Florida Not For Profit Corporation filed on April 17, 2006. ft. condo is a 3 bed, 3.0 bath unit. Chris was a godsend in helping me choose a condo. Listing courtesy of Lifes A Beach Real Estate, LLC. Before purchasing in an HOA community you will want to research their rules and deed restrictions, reserve funds, budget, bylaws, and documents of the association. This condo was built in 2007 and last sold on 2/12/2020 for $390,500. Make Shores of Panama your next destination! Example. 9900 S Thomas Drive 1326, Panama City Beach. Zestimate® Home Value: $309,666. There is also access to 487 feet of beach front property for guests and residents to take advantage of. These special assessments usually show up when you need to paint a building. ft. condo is a 2 bed, 3.0 bath unit. Since there was not a special assessment the association needed financing. Pool and Club dues prior to the association purchase, Total budgeted for loan to purchase the Pool & Club, Loan cost budgeted per month for pool and club purchase, Total extra association dues to be budgeted towards the loan, Shores of Panama 1-bedroom A phase 1 C unit, Shores of Panama 2-bedroom A phase 1 B unit, Shores of Panama 3-bedroom A phase 1 D unit. You can also get a feel for the amount dues should go down after the loan is paid off. This is the #1 question that I always receive from my prospective 1 st time vacation home buyers. Any investor purchasing close to, or more than, half of the units of a failed condominium will typically expect to gain control of the association for at least a limited period of time. They reported “This was driven by the increase in cost associated with the mortgage of the pool vs. the lease payments as the main driver”. 9900 S Thomas Dr # 1907, Panama City, FL 32408 is a condo unit listed for-sale at $310,000. ONE OF THE BEST SUNSET VIEWS!!! View more property details, sales history and Zestimate data on Zillow. 1. So, it was clearly in the best interest of the association to purchase the pool and the club at some point. We will cover reserves and the loan. Find 50 photos of the 9900 S Thomas Dr #1907 condo on Zillow. Shores of Panama Resort Condominiums rentals include many premium features including private oceanview balconies, fully furnished kitchens with granite countertops,  flat screen TVs in each room of each unit, washer/dryer and upgraded appliances. This condo is on the west end of the building (Gulf-Front). Great 2 bedroom/2.5 bath unit with parking space included in purchase.The Shores of Panama offers resort style amenities including 13,966 SF Gulf side pool... Hopo Zoning: r217771676. I listed two units at the Summit with Chris. INCLUDES 3RD FLOOR PARKING SPACE. See 600 traveler reviews, 1,552 candid photos, and great deals for Shores of Panama Resort, ranked #83 of 94 specialty lodging in Panama City Beach and rated 2.5 of 5 at Tripadvisor. Many owners, buyers and sellers look at association dues to make a judgement as to the health of an association. Vacation rentals here boast North Florida's largest lagoon pool and pool deck, beachside hot tub, indoor pool and hot tub, sauna, steam room, spa, and poolside grill and bar! This is the 2bd style that has the bunk room with a door and a wilndow, so it FEELS LIKE A 3BD. SUNSET VIEWS ALL YEAR LONG. If you would like a history of the building, you may want to look at my Shores of Panama Oversimplified article. Edgewater is a good comp for association dues because they have a similar size lagoon pool, but more amenities. Shores Of Panama Resort Homeowners Association, Panama City Florida. Shores of Panama Unit 1528 - $386 avg/night - Panama City Beach - Amenities include: Swimming pool, Internet, Air Conditioning, Hot Tub, TV, Satellite or cable, Washer & Dryer, Parking, Heater Bedrooms: 3 Sleeps: 10 Minimum stay from 2 night(s) Bookable directly online - Book vacation rental 1190672 with Vrbo. With sprawling beaches and a gulf-front pool that spans 13,966 square feet, guests can relax for days or dive into an array of beach … I believe this is an easy way to understand how much the special assessment will cost you over 15 years. If you want to see the sunset you want to buy in Phase II facing the sunset. The first time a building needs painting is when associations are often forced to face the reality of there reserve study and the reserve balance. Shores of Panama Association Dues 2019 When compared to other gulf front buildings in Panama City Beach, Shores of Panama’s dues can seem high at first glance. Shores of Panama offers Panama City Beach’s Best Beachfront Location and Amenities Second to None. Highlights of this charming vacation destination include Ripley's Believe It or Not Odditorium, WonderWorks Upside Down Adventure, and Pier Park mall, … If you have questions on other topics regarding the Shores of Panama, you can feel free to contact me. After a day spent surfing, shopping, and sightseeing in Panama City Beach, relax and unwind at the family-friendly Shores of Panama resort. When compared to other gulf front buildings in Panama City Beach, Shores of Panama’s dues can seem high at first glance. This means that they end up needing special assessments. Shores of Panama is one of the largest resorts on Panama City Beach. This math below is just my estimate. Are you comfortable paying the dues budgeted when considering the Shores of Panama building and amenities? Shores of Panama Unit 1109 - $180 avg/night - Panama City Beach - Amenities include: Swimming pool, Internet, Air Conditioning, Hot Tub, TV, Satellite or cable, Washer & Dryer, Parking, Heater Bedrooms: 1 Sleeps: 6 Minimum stay from 2 night(s) Bookable directly online - Book vacation rental 1265143 with Vrbo. Condos for Sale in Shores of Panama, 9900 S Thomas Drive, Panama City Beach, FL 32408: Developers reserves are often underfunded. If you would like more information on any of these Shores of Panama condos for sale, just click the "Request More Information" button when viewing the details of this beachfront condo for sale. Welcome to the Shores of Panama resort, a family-friendly retreat in Panama City Beach. Dues are made up of the operating budget, reserves, and loans (if any). The staffing and amenities you maintain make up a significant portion of the budget. Shores of Panama is an incredible destination in Panama City Beach. Association dues are usually made up of three separate cost centers. HOA Fees and How Can I Afford My Vacation Home in Florida? Association dues are usually made up of three separate cost centers. Most condos do not fully fund reserves. They were slightly over priced, but I was willing to wa... Chris is an honest, hard working real-estate agent. The 1,525 sq. You should also check out my testimonials page to see what some of my clients were nice enough to write about me.Christopher Arnold850-625-5113. Understanding the operating budget is outside the scope of this article. View more property details, sales history and Zestimate data on Zillow. The operating budget and pool revenue are independent of that. My name is Wayne Hults. The Registered Agent on file for this company is Buckner, Daniel P and is located at 600 Grand Blvd Suite 208, Miramar Beach, FL 32550. The 16.2 million paid by the association for the pool averages to $23,137 per unit on average. Shores of Panama is a gulf front condominium resort located at 9900 South Thomas Dr. in Panama City Beach, Florida, . Shores of Panama Resort is located in the heart of Panama City Beach Beach and offers some of the Gulf Coast’s best resort amenities including a beachfront 13,965 square foot lagoon pool and hot tub, 2 tiki bars serving food and cocktails, heated indoor pool and hot tub, fitness center, full spa, beach activities and rental services, high speed internet access and more. Just add the 40k for all the loan payments and assume you are paying 260k. The pool and club also received the revenue from the guests. Low-floor ''L'' plan in Shores of Panama. Operations, Reserves, and loans (if any). This Panama City Beach accommodation also boasts a heated indoor pool and hot tub, covered parking, a fitness center with a steam room, two tiki bars and more! Now $72 (Was $̶1̶9̶2̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. Shores of Panama. A Beach Vacation Come True. Shores of Panama Condos for Sale. This article will look deeper into the 2019 dues and what you can expect in the future. There are also many other buildings with lower association dues. The Shores of Panama verdict will unquestionably have a wide-ranging impact on real estate investors seeking to purchase distressed condominium assets in bulk. Bring the Family to Our Gulf-front Resort. The budget for the loan is $2,135,563 per year which will cost each unit an average of $45,181 to cover the loan obligations. 9900 S. Thomas Road Panama City Beach, FL 32408 (888) 402-5155 When I tell them the HOA fees are $350 – $600 per month, the 2 nd question immediately out of their mouths is “How in the world can we afford to purchase this property and then pay THAT MUCH MONEY for HOA fees”? With the emerald waters and white sandy beaches of the Gulf of Mexico as its playground, the Shores of Panama entice sun seekers, water adventure lovers, and vacationers of all ages who are eager to get away and reconnect with friends and family. Shores of Panama is at that point right now. A waterfront favorite, Panama City Beach is beloved for its white sand shores and warm Gulf of Mexico waters. Chris gave good advice through the sales process... Chris was right with his recommendations and guidance from the very beginning. **Shores of Panama Resort charges a flat fee of $60 at check in. Just add that price to your purchase price and you can evaluate the price you are paying relative to the price of other condominiums you would like to compare. Shores of Panama will be paying off the loan for the pool and club purchase for the next 15 years. This is the ONLY condo in Shores of Panama that has a full WALL OF WINDOWS in the master bedroom and a sliding glass door out the master. I believe it is an easer way to compare Shores with other condominiums. Resort Information. Located at the #1 Vacation Destination Condo on Panama City Beach. MLS # 703873 When you take the 2.1 million budgeted for the loan and subtract it from the 1.4 million already paid to the club, owners are only paying 700k extra for 15 years to own the pool and club area. Shores of Panama is one of the largest resorts on Panama City Beach. If you pay $220,000 for a one-bedroom. Book online or call toll free: 1-800-725-GULF, Designed by Elegant Themes | Powered by WordPress. The actual math to understand the Shores of Panama budget is significantly more complicated. Now $89 (Was $̶2̶5̶9̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. The fee is subject to change as it is set by the onsite HOA… See 608 traveler reviews, 1,553 candid photos, and great deals for Shores of Panama Resort, ranked #83 of 103 specialty lodging in Panama City Beach and rated 2.5 of 5 at Tripadvisor. Elevators, ask to speak to a manager of Shores of … Here is my estimate of the percentage of the dues going towards the loan taken out to pay for the pool and club purchase. - See 606 traveler reviews, 583 candid photos, and great deals for Shores of Panama Resort at Tripadvisor. There are several condos in Panama City Beach that have equal or higher association dues. This is foolish without understanding why association dues are where they are. The goal here is to simply break out the budget for the loan. The Shores of Panama is loaded with luxury amenities including a full-service spa, lagoon-style pool, and lazy river, 24-hour fitness center, 2 tiki bars serving food and drinks. The 1,148 sq. Many associations get a handle on reserves 5-7 years after the building conveys. Shores of Panama Resort is located in the heart of Panama City Beach Beach and offers some of the Gulf Coast’s best resort amenities including a beachfront 13,965 square foot lagoon pool and hot tub, 2 tiki bars serving food and cocktails, heated indoor pool and hot tub, fitness center, full spa, beach … 9900 Thomas Dr S # 1528, Panama City, FL 32408 is currently not for sale. The good news is that even if you end up needing a special assessment, $5,000-$10,000 can often clean up years of underfunding reserves. To be fair the payment to the club was $1,394,500 per year and could increase each year. This article will look deeper into the 2019 dues and what you can expect in the future. He helped us ready o... We have worked with Chris several times on the purchase of Condos in Panama City Beach. It is a matter of opinion and controlled by the association board members. This math below is just my estimate. The actual math to understand the Shores of Panama budget is significantly more complicated. Each building has a dollar amount that it cost to run a building. The master overlooks the pool to the Gulf. Shores of Panama offer an indoor spa, sauna and steam room, fitness center, electronic game room, swimming pools, hot tubs, party and media room and two tiki bars for everyone to enjoy. Its club assets include a 14,000-square-foot beachfront pool complex, bar and grill, spa, fitness center, indoor pool and meeting rooms. The company's filing status is listed as Active and its File Number is N06000004213. Our 23-story Gulf front property features 150 beautifully appointed vacation rentals and a host of luxury amenities, including a full-service spa, lagoon style pool, two tiki bars for on-site dining and drinks, and exhilarating water sports and … Like most new buildings, reserves were not funded properly for years. Featuring elegantly appointed one, two, and three bedroom condos that can accommodate up to 10 guests, our resort is the ultimate Gulf of … Shores Of Panama Phase I Condos for Sale Included below are condos for sale in Shores Of Panama Phase I, a resort in Panama City Beach, Florida, updated daily from the Bay County (BCAR) MLS. In 2019 the association reported a 13.55% increase in dues. This gives you a better comparison to other condominiums. Shores of Panama is located next door to Pineapple Willie’s Beachfront Restaurant and only a short stroll from many of Panama City Beach’s top tourist attractions including the Ripley’s Believe It or Not Museum, Wonderworks Upside Down Adventure, several mini-golf courses along with many beach gear stores and souvenir shops. We provide a list of the board members and property manager for Shores Of Panama Resort Hoa. Association dues below show monthly dues minus my estimate of the dues being put toward the loan for the next 15 years. This section is my attempt to help you break down the math with my estimates. The pool is not owned by the HOA (Homeowners Association), it is owned by the new bulk buyer--Shores of Panama LLC, you have complaints, talk to the front desk who is run by Shores of Panama LLC and not the HOA. There is a lot to Shores of Panama.

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