The actual math to understand the Shores of Panama budget is significantly more complicated. Its club assets include a 14,000-square-foot beachfront pool complex, bar and grill, spa, fitness center, indoor pool and meeting rooms. The Shores of Panama Condominium Owners Association reached an agreement to purchase the amenities from Shores of Panama LLC, a real estate investment group. They were slightly over priced, but I was willing to wa... Chris is an honest, hard working real-estate agent. 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. Since there was not a special assessment the association needed financing. This gulf front unit is owned by the bulk buyer of Shores of Panama and has not been released for sale. There is a lot to Shores of Panama. Best resort. Property Details . 9900 S. Thomas Road Panama City Beach, FL 32408 (888) 402-5155. 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. Premier real estate team for investment properties, distressed real estate, foreclosures, bank owned property and short Sales in Northwest Florida. from $80 per /nt from $6000 per /mo Book Now. Reservation Fee A fee of 7% will be assessed on all reservations. **Shores of Panama Resort charges a flat fee of $60 at check in. 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 … 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. panama city beach real estate best buys. Learn more about local market trends & nearby amenities at realtor.com®. Listed. USA Direct:  +1-404-382-0398. 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. ft. condo is a 2 bed, 3.0 bath unit. 1-Bedroom: 1 parking pass and 6 wristbands for guests 8 years and older. 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. 9,463 were here. This fee includes the following per unit type: Studio: 1 parking pass and 4 wristbands for guests 8 years and older. Shores of Panama Luxury Condos in Panama City Beach. 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. 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. Who establishes the building associations? 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”. For more details, please contact the property using … No one knows Shores like Star RE Agent Karen Marceaux! 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. Directions. We provide a list of the board members and property manager for Shores Of Panama Resort Hoa. After that, the homeowners vote to determine a president, treasurer, and secretary of the board. Sign Up for Listing Alerts. Most condos do not fully fund reserves. 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. All rights reserved. Top ranked realtor. If you have questions on other topics regarding the Shores of Panama, you can feel free to contact me. Chris gave good advice through the sales process... Chris was right with his recommendations and guidance from the very beginning. Understanding the operating budget is outside the scope of this article. WELCOME TO 29201 EDEN SHORES DR. The goal here is to simply break out the budget for the loan. Shores of Panama 403. Sign Up for Listing Reports × Close . They only apply if guests choose to use these services. ** **LOW Monthly Winter Rates -Not Available to Guests under age 25* Snowbird Season runs November through February on a monthly basis. We will cover reserves and the loan. Welcome to the Shores of Panama resort, a family-friendly retreat in Panama City Beach. 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. View more property details, sales history and Zestimate data on Zillow. 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. To be fair the payment to the club was $1,394,500 per year and could increase each year. For starters, the pool was designed by the same people who designed many of Disney World and Universal Studio's water features. HOA. Distressed Property Expert | 850.583.1640. This math below is just my estimate. The fee is subject to change as it is set by the onsite HOA. Shores of Panama will be paying off the loan for the pool and club purchase for the next 15 years. If you pay $220,000 for a one-bedroom. Reply. I listed two units at the Summit with Chris. Save. 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. 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. 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. The Shores of Panama is often referred to as the premier resort in Panama City Beach. You should acquire a copy of the HOA's operating financial statement so that you understand how the HOA fees are being allocated and … This unit has amazing gulf and west facing sunset views. In some cases, water is also included. 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. Save Property. You can also get a feel for the amount dues should go down after the loan is paid off. ** **LOW Monthly Winter Rates -Not Available to Guests under age 25* Snowbird Season runs November through February on a monthly basis. Gulf front condos. Many owners, buyers and sellers look at association dues to make a judgement as to the health of an association. A quorum is required for any new rules to pass within the administration. Developers are required to administer the building for the first year of operation. 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. What do these building association fees cover? 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. Its not per person so the $212 would be the charge for a weeks stay. Property Description. Shores of Panama. From the North. Investment property. What is an Initial Capital contribution? Shores of Panama Resort, #403, Amazing Views Wrap Around Balcony, Rsvd Parking Property Details. The pool holds an astonishing 330,000 galloons in its lagoon style. The Shores of Panama Condos for sale in Panama City Beach. Example. 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. Shores of Panama 403 admin 2021-01-11T09:19:11-06:00. This resort features unsurpassed amenities, facilities and an incredible location. View Photo Gallery (41) Saved! List Price . Covering Scenic 30A, Santa Rosa Beach, Destin, Miramar Beach, and Panama City Beach. The operating budget and pool revenue are independent of that. Shores Of Panama Phase I Condos for Sale January 15, 2021. Developers reserves are often underfunded. 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?! 106. 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. Promo code & hotel info. 12. I believe it is an easer way to compare Shores with other condominiums. This is on a case by case basis and varies based on the administration and owner’s willingness to pay for such services. These funds are used to start the association. The staff’s salary will be covered by the association fees. This a 3rd floor unit at Shores of Panama and is on the East end of the condo project in Phase II. My name is Wayne Hults. Each building has a dollar amount that it cost to run a building. 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. Jeanne says: November 11, 2008 at 11:53 am. Now is your chance to own a piece of paradise in the beautiful Shores of Panama. Most if not all buildings will have some sort of front desk/security/concierge position. There is also access to 487 feet of beach front property for guests and residents to take advantage of. Best Panama City Beach Realtor Cindy Shoemaker. Mobile: + 507 6030-6782 Obarrio, Panama 2 Bedrooms 2 Bathrooms Condo in Panama City Beach. 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. What about special assessments? Avg. With a 14,000+ sq ft pool, indoor pool, tiki bars, and being on the Gulf of... Hopo Zoning: r2347367362. Welcome to the Shores of Panama Unit 2008. Association dues below show monthly dues minus my estimate of the dues being put toward the loan for the next 15 years. Find 23 photos of the 9900 S Thomas Dr #2023 condo on Zillow. Property Description. The staffing and amenities you maintain make up a significant portion of the budget. Chris was a godsend in helping me choose a condo. This unit sleeps 6 and is a rental machine with average income $38k per year. Condos for Sale in Shores of Panama, 9900 S Thomas Drive, Panama City Beach, FL 32408: Get new listing alerts delivered to your inbox. If you would like a history of the building, you may want to look at my Shores of Panama Oversimplified article. This gives you a better comparison to other condominiums. Now $82 (Was $̶1̶4̶9̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. What about Due diligence for new buyers? The actual math to understand the Shores of Panama budget is significantly more complicated. 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