Best Panama City Beach Realtor Cindy Shoemaker. Most if not all buildings will have some sort of front desk/security/concierge position. What is an Initial Capital contribution? Covering Scenic 30A, Santa Rosa Beach, Destin, Miramar Beach, and Panama City Beach. Property Details . **Shores of Panama Resort charges a flat fee of $60 at check in. ** **LOW Monthly Winter Rates -Not Available to Guests under age 25* Snowbird Season runs November through February on a monthly basis. Shores of Panama is one of the largest resorts on Panama City Beach. We provide a list of the board members and property manager for Shores Of Panama Resort Hoa. Promo code & hotel info. I listed two units at the Summit with Chris. Other reasons for a special assessment may be to replace old furniture in the lobby, retile the pool or redecorate the building. The actual math to understand the Shores of Panama budget is significantly more complicated. This is on a case by case basis and varies based on the administration and owner’s willingness to pay for such services. Office: 011 507 320 4310 Edgewater is a good comp for association dues because they have a similar size lagoon pool, but more amenities. Certain buildings in Panama are run very well, while others are run poorly to the point that owners have had to force out administrations and replace them. This math below is just my estimate. Most if not all buildings also have some general liability and structural insurance policies which are available to all residents for review from the building administration. This unit sleeps 6 and is a rental machine with average income $38k per year. Directions. Each building has a dollar amount that it cost to run a building. Investment property. This one time charge will provide your party with pool wristbands and 1 parking passes. As a potential owner you have to ask yourself, is it better to invest in a box that is like 75% of the inventory on the beach or sign on with one that has great amenities, fabulous location and the best pool on Panama City Beach?! Every amenity you can dream of is within easy reach at this distinctive resort; from the Tiki Bars to the Shores of Panama Spa, there is something for everyone. 3 Bedrooms 2.5 Bathrooms Condo in Panama City Beach. Your email address will not be published. The fee is subject to change as it is set by the onsite HOA. Unless otherwise stated, these fees are not mandatory. 1-Bedroom: 1 parking pass and 6 wristbands for guests 8 years and older. $ / Sq.Ft. The Shores of Panama is often referred to as the premier resort in Panama City Beach. This gives you a better comparison to other condominiums. Chris gave good advice through the sales process... Chris was right with his recommendations and guidance from the very beginning. Sign Up for Listing Alerts. You can also get a feel for the amount dues should go down after the loan is paid off. Condos for Sale in Shores of Panama, 9900 S Thomas Drive, Panama City Beach, FL 32408: Get new listing alerts delivered to your inbox. This fee includes the following per unit type: Studio: 1 parking pass and 4 wristbands for guests 8 years and older. Now $82 (Was $̶1̶4̶9̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. 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 Phase I Condos for Sale January 15, 2021. Registration Fee A fee of $60 plus tax will be collected upon arrival at Shores of Panama. Developers reserves are often underfunded. Like Like. This unit has amazing gulf and west facing sunset views. HOA fee: $2,629/mo; Services included: Accounting, BBQ Pit/Grill, Dumpster, Exercise Room, Maintenance Grounds, Insurance, Internet Service, Management, Pest Control, Pool, Sewer, Trash, Cable TV, Water, Whirlpool; Second HOA fee: $2,629/mo The 16.2 million paid by the association for the pool averages to $23,137 per unit on average. This resort features unsurpassed amenities, facilities and an incredible location. Premier real estate team for investment properties, distressed real estate, foreclosures, bank owned property and short Sales in Northwest Florida. The 1,102 sq. Hotel name: Shores of Panama by Panhandle Getaways Address: 9900 South Thomas Drive City: Panama City Beach, Florida (United States) Zip code: FL 32408 Description: Offering a year-round outdoor pool and … There is a lot to Shores of Panama. Sign Up for Listing Reports × Close . Just add the 40k for all the loan payments and assume you are paying 260k. However, my … Chris was a godsend in helping me choose a condo. These special assessments usually show up when you need to paint a building. Med. This math below is just my estimate. Shores of Panama Recommended Auction List (In Yellow are Absolute Auction Units) Parking HOA Fees Property Unit Floor Quarter Taxes Numbers BED/BATH Sq. Shores of Panama 403. Beautifully Decorated 4th Floor Gulf Front Unit 402, Amazing Views, Free Rsvd Parking Property Details. This article will look deeper into the 2019 dues and what you can expect in the future. Important factors to consider are: how is the collection rate of the building, if there are any special assessments pending, how money has been spent in the past, how any third party providers are performing (security staff, general maintenance staff, etc), what percentage of the ownership are absentee owners, are there any issues with the building that may require special assessments in the future, etc. Now is your chance to own a piece of paradise in the beautiful Shores of Panama. My HOA fees were only $160 per month and included exterior building maintenance, water, landscaping, and access to a community pool and tennis courts. Its not per person so the $212 would be the charge for a weeks stay. Required fields are marked *. The 16.2 million paid by the association for the pool averages to $23,137 per unit on average. It is important to get a good feel for the current building administration, and a good real estate agent is key to this process, as the typical work of an attorney does not include anything other than a general statement of good standing on the property to be purchased. 9900 S Thomas Drive 1423, Panama City Beach, Florida FL 32408. The staff’s salary will be covered by the association fees. Avg. No one knows Shores like Star RE Agent Karen Marceaux! Many associations get a handle on reserves 5-7 years after the building conveys. So for example, if your Panama condo is 100 meters or roughly 1,080 square feet and the building charges $1.50/meter, then you will be paying $150.00 per month. 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. 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”. The pool and club also received the revenue from the guests. Facilities fee: $36 per accommodation, per night ; The above list may not be comprehensive. Find 23 photos of the 9900 S Thomas Dr #2023 condo on Zillow. And, if you haven't already, be sure to register for a free account so that you can receive email alerts whenever new Shores Of Panama Phase I condos for sale come on the market in Panama City Beach, FL. Comment document.getElementById("comment").setAttribute( "id", "abe38def65ffbe2aedb4e0b725875d73" );document.getElementById("f0d55d0da7").setAttribute( "id", "comment" ); Get ready to enjoy incredible views from this penthouse for…, What a beautiful one-bedroom apartment for rent in Casco Viejo!…, This comfortable oceanfront two-bedroom Icon condo for sale in Panama…, Edificio Sortis, Oficina 20th Floor With a 14,000+ sq ft pool, indoor pool, tiki bars, and being on the Gulf of... Hopo Zoning: r2347367362. THIS UNIT IS HIGHLY REVIEWED. Search all panama city beach listings. 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. If you go fishing or shopping one day and dont use the facilities, you dont have to pay the $30.40 for that day. The actual math to understand the Shores of Panama budget is significantly more complicated. Shores of Panama will continue to strive for perfection and continue to be a leader in the market. Operations, Reserves, and loans (if any). If you have questions on other topics regarding the Shores of Panama, you can feel free to contact me. Shores of Panama will be paying off the loan for the pool and club purchase for the next 15 years. 106. Many owners, buyers and sellers look at association dues to make a judgement as to the health of an association. LOCATED IN THE HIGHLY DESIRED EDEN SHORES NEIGHBORHOOD OF HAYWARD, THIS YOUNG, MOVE IN Incredible Views from Every Window in this Avenida Balboa Penthouse for Rent in Rivage, Large Country Home For Sale In Cool Climates of Panama’s Mountains, One Bedroom Apartment for Rent in Puerta de Mar Casco Viejo, Cozy Single-Family Home Refreshing Swimming Pool On Private Road, Icon Tower 2-Bedroom Ocean View Condo For Sale Coco del Mar, High Style in this Rivage Penthouse Apartment for sale in Avenida Balboa, Cool Climate Year Round High In the Panamanian Mountains, Cool Climates & Stellar Mountain Views in Altos del Maria, Stunning, Luxurious, Avenida Balboa Rivage Apartment for Sale, Park Lane 3-Bedroom apartment for rent in Costa del Este, Fabulous Furnished One-bedroom Loft For Rent in Cuatro Casas Casco Viejo. This unit is updated 1 Bedroom 2 Bath Condo with Bunk Room with Barn Door for privacy with the 2nd bath a step away. To be fair the payment to the club was $1,394,500 per year and could increase each year. WELCOME TO 29201 EDEN SHORES DR. Other Fees at Shores of Panama Beach Resort. from $80 per /nt from $6000 per /mo Book Now. THIS UNIT IS HIGHLY REVIEWED. The goal here is to simply break out the budget for the loan. This gulf front unit is owned by the bulk buyer of Shores of Panama and has not been released for sale. What do these building association fees cover? Shores of Panama is one of the largest resorts on Panama City Beach. Take a look at our condo's location … Shores of Panama 403 admin 2021-01-11T09:19:11-06:00. Shores of Panama. Avg. The rates depend on a number of factors, including how many total units there are in each building (costs get spread out amongst a larger number of owners), what type of amenities the building has, number of elevators to maintain, total number of staff in the building, etc. Are you comfortable paying the dues budgeted when considering the Shores of Panama building and amenities? Get the scoop on the 31 condos for sale in Panama City, FL. My name is Wayne Hults. What about special assessments? This section is my attempt to help you break down the math with my estimates. panama city beach real estate best buys. These fees are generally calculated based on the size of the individual condo unit multiplied by a set rate that the building association has determined. Learn more about local market trends & nearby amenities at realtor.com®. 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 beachfront activities to keep you entertained. That rate generally varies from $.80 – $3.50 per square meter, or $.07 – $.32 per square foot. 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. 9900 S. Thomas Road Panama City Beach, FL 32408 (888) 402-5155. Ft. The actual math to understand the Shores of Panama budget is significantly more complicated. Property Description. 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. 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. The pool holds an astonishing 330,000 galloons in its lagoon style. $292.11. Who establishes the building associations? The most common special assessment, or “extraordinary quota” occurs once every few years and is assessed to cover extra charges associated with repainting the façade of the building. Several condo developments in Panama also offer things like free wireless internet, towel service, icemakers at the pool, and other benefits to owners. That rate generally varies from $.80 – $3.50 per square meter, or $.07 – $.32 per square foot. These funds are used to start the association. View Photo Gallery (41) Saved! The following fees and deposits are charged by the property at time of service, check-in, or check-out. Most condos do not fully fund reserves. Listed. The Shores of Panama Condos for sale in Panama City Beach. 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. Panama condo association fees, otherwise referred to as building association fees, home owners association fees, or common area maintenance charges vary substantially from condo to condo in Panama. So, it was clearly in the best interest of the association to purchase the pool and the club at some point. 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. There is also access to 487 feet of beach front property for guests and residents to take advantage of. If you pay $220,000 for a one-bedroom. Association dues are usually made up of three separate cost centers. A quorum is required for any new rules to pass within the administration. 2 Bedrooms 2 Bathrooms Condo in Panama City Beach. Since there was not a special assessment the association needed financing. Dues are made up of the operating budget, reserves, and loans (if any). This means that they end up needing special assessments. It is a matter of opinion and controlled by the association board members. This is a one time contribution to the home owners association required of all first time buyers in the building. Reply. This a 3rd floor unit at Shores of Panama and is on the East end of the condo project in Phase II. Shores of Panama 402. The Shores of Panama Condominium Owners Association reached an agreement to purchase the amenities from Shores of Panama LLC, a real estate investment group. MLS # 701784 For more details, please contact the property using … Reservation Fee A fee of 7% will be assessed on all reservations. USA Direct:  +1-404-382-0398. The rates depend on a number of factors, including how many total units there are in each building (costs get spread out amongst a larger … Menu; Home; Search Tools. Save Property. Here is my estimate of the percentage of the dues going towards the loan taken out to pay for the pool and club purchase. From the North. Best resort. Example. from $99 per /nt from $1800 per /mo Book Now. Property Description. Developers are required to administer the building for the first year of operation. This is a brand new unit and is currently in the process of being furnished by the bulk investor. Welcome to the Shores of Panama resort, a family-friendly retreat in Panama City Beach. 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. Top ranked realtor. Depending on how efficiently the building’s been run, quotes from anywhere between $300 per resident to as high as several thousand dollars may be levied to cover the cost. HOA. Listing courtesy of Lifes A Beach Real Estate, LLC. So for example, if your Panama condo is 100 meters or roughly 1,080 square feet and the building charges $1.50/meter, then you will be paying $150.00 per month. There are several condos in Panama City Beach that have equal or higher association dues. I believe this is an easy way to understand how much the special assessment will cost you over 15 years. 9900 S Thomas Dr # 2023, Panama City, FL 32408 is a condo unit listed for-sale at $315,000. View more property details, sales history and Zestimate data on Zillow. Distressed property for sale. The Shores of Panama is in close proximity to shopping, attractions, and restaurants including Pineapple Willey's .This unit comes with it s own deeded garage parking spot along with a great rental history for those looking to offset their expenses owning a Beachfront condo. number one real estate agent for condo listings and sales. The Shores of Panama Resort holds the distinction of being one of the most popular destinations on Panama City Beach. Take a look at our condo's location …Wow! 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. Welcome to the Shores of Panama Unit 2008. There are also many other buildings with lower association dues. This one time charge will provide your party with pool wristbands and 1 parking passes. 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 Resort charges a flat fee of $60 at check in. 9,463 were here. Once you are done marveling over the pool, you will have to take in the breathtaking views. Cleaning fees are collected at the property and vary per condo unit booked: studio is $80, 1 bedroom is $95, 2 bedroom is $115 and 3 bedroom is $135. Obarrio, Panama Save. Shores of Panama is at that point right now. Your email address will not be published. For starters, the pool was designed by the same people who designed many of Disney World and Universal Studio's water features. List Price . Home on 29201 Eden Shores Dr in Hayward CA 94545. The staffing and amenities you maintain make up a significant portion of the budget. See 604 traveler reviews, 1,552 candid photos, and great deals for Shores of Panama Resort, ranked #84 of 99 specialty lodging in Panama City Beach and rated 2.5 of 5 at Tripadvisor. We will cover reserves and the loan. 12. Distressed Property Expert | 850.583.1640. Type Shores of Panama Recommended Auction List 1224 2/3 1184 K 1261 2,477.98 2,684.00 1319 2/3 1184 K 684 2,477.98 2,684.00 1324 2/3 1184 K 677 2,477.98 2,684.00 1424 2/3 1184 K 780 2,477.98 2,684.00 1619 2/3 1184 K 875 2,477.98 … Jeanne says: November 11, 2008 at 11:53 am. This Eden Shores neighborhood house is For sale for $838k. What about Due diligence for new buyers? Property Details . Most home owner boards usually select a third party building administrator. The average rate for a building with a standard level of amenities (pool, gym, and security) is anywhere from $1.00 – $1.80 per meter. Shores of Panama Luxury Condos in Panama City Beach. I believe it is an easer way to compare Shores with other condominiums. You should acquire a copy of the HOA's operating financial statement so that you understand how the HOA fees are being allocated and … If you would like a history of the building, you may want to look at my Shores of Panama Oversimplified article. Just spoke with shores of panama people today and there is an ammenity fee of $30.40 a day to use the pools etc. They were slightly over priced, but I was willing to wa... Chris is an honest, hard working real-estate agent. Like most new buildings, reserves were not funded properly for years. Price $289,950 Listing ID: 704734. 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. Also included is maintenance of the common areas like the pool, front lobby, elevators, and in some (but not all cases) maintenance of the rooftop. $315,000. ** **LOW Monthly Winter Rates -Not Available to Guests under age 25* Snowbird Season runs November through February on a monthly basis. For an investor looking for income producing properties, it is important to know how the administration is being run and what kind of costs to expect as a part of ownership. Its club assets include a 14,000-square-foot beachfront pool complex, bar and grill, spa, fitness center, indoor pool and meeting rooms. In some cases, water is also included. After that, the homeowners vote to determine a president, treasurer, and secretary of the board. In 2019 the association reported a 13.55% increase in dues. The fee is subject to change as it is set by the onsite HOA. They only apply if guests choose to use these services. Gulf front condos. ft. condo is a 2 bed, 3.0 bath unit. DOM. Understanding the operating budget is outside the scope of this article. Depending on the building and how they are set up, gas is usually included in the common area charges, meaning owners do not have separate gas meters so cooking and heating water are covered. The operating budget and pool revenue are independent of that. All rights reserved. He helped us ready o... We have worked with Chris several times on the purchase of Condos in Panama City Beach. Condo rentals and sales. Mobile: + 507 6030-6782 Shores of Panama Resort, #403, Amazing Views Wrap Around Balcony, Rsvd Parking Property Details. Association dues below show monthly dues minus my estimate of the dues being put toward the loan for the next 15 years. Copyright © 2020 Panama Equity. Gulf front condos for sale. Facilities fee: $ 36 per accommodation, per night ; the above list may not be comprehensive put the! Believe it is an honest, hard working real-estate agent flat fee $... I believe this is an honest, hard working real-estate agent beachfront pool,... And Zestimate data on Zillow compare Shores with other condominiums advice through the sales process... was! Break down the math with my estimates is significantly more complicated you should also check out my page! Perfection and continue to be fair the payment to the club at some point that they end up special! Using … Save Studio 's water features for association dues are where they.! Destinations on Panama City Beach, Florida shores of panama hoa fees 32408 is a condo easy way to compare Shores with condominiums... 1,394,500 per year with lower association dues at time of service, check-in, or $.07 – 3.50. Only apply if guests choose to use these services pool holds an astonishing 330,000 in... You over 15 years at some point not be comprehensive bulk buyer of Shores of Panama Phase Condos. Will have some sort of front desk/security/concierge position was right with his and... 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