Shores of Panama is at that point right now. Office: 011 507 320 4310 Promo code & hotel info. For starters, the pool was designed by the same people who designed many of Disney World and Universal Studio's water features. Shores of Panama 402. Chris gave good advice through the sales process... Chris was right with his recommendations and guidance from the very beginning. The Shores of Panama Condominium Owners Association reached an agreement to purchase the amenities from Shores of Panama LLC, a real estate investment group. Home on 29201 Eden Shores Dr in Hayward CA 94545. Association dues below show monthly dues minus my estimate of the dues being put toward the loan for the next 15 years. Like Like. ** **LOW Monthly Winter Rates -Not Available to Guests under age 25* Snowbird Season runs November through February on a monthly basis. ft. condo is a 2 bed, 3.0 bath unit. These funds are used to start the association. The fee is subject to change as it is set by the onsite HOA. This gulf front unit is owned by the bulk buyer of Shores of Panama and has not been released for sale. 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. 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. Its not per person so the $212 would be the charge for a weeks stay. This unit has amazing gulf and west facing sunset views. A quorum is required for any new rules to pass within the administration. Menu; Home; Search Tools. There are several condos in Panama City Beach that have equal or higher association dues. Many owners, buyers and sellers look at association dues to make a judgement as to the health of an association. 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. Property Details . Most condos do not fully fund reserves. With a 14,000+ sq ft pool, indoor pool, tiki bars, and being on the Gulf of... Hopo Zoning: r2347367362. Shores of Panama 403 admin 2021-01-11T09:19:11-06:00. Avg. 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. 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. 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. Just add the 40k for all the loan payments and assume you are paying 260k. THIS UNIT IS HIGHLY REVIEWED. Facilities fee: $36 per accommodation, per night ; The above list may not be comprehensive. Once you are done marveling over the pool, you will have to take in the breathtaking views. Shores of Panama Resort, #403, Amazing Views Wrap Around Balcony, Rsvd Parking Property Details. Price $289,950 Listing ID: 704734. Reservation Fee A fee of 7% will be assessed on all reservations. Condo rentals and sales. 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. The actual math to understand the Shores of Panama budget is significantly more complicated. Shores of Panama Recommended Auction List (In Yellow are Absolute Auction Units) Parking HOA Fees Property Unit Floor Quarter Taxes Numbers BED/BATH Sq. The Shores of Panama Resort holds the distinction of being one of the most popular destinations on Panama City Beach. 9,463 were here. 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. 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. 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. Sign Up for Listing Reports × Close . $292.11. Take a look at our condo's location …Wow! Your email address will not be published. What about Due diligence for new buyers? Each building has a dollar amount that it cost to run a building. That rate generally varies from $.80 – $3.50 per square meter, or $.07 – $.32 per square foot. Who establishes the building associations? 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. If you have questions on other topics regarding the Shores of Panama, you can feel free to contact me. In some cases, water is also included. 9900 S. Thomas Road Panama City Beach, FL 32408 (888) 402-5155. This is foolish without understanding why association dues are where they are. 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 Shores of Panama is often referred to as the premier resort in Panama City Beach. 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. 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. What about special assessments? 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 math below is just my estimate. There is also access to 487 feet of beach front property for guests and residents to take advantage of. 2 Bedrooms 2 Bathrooms Condo in Panama City Beach. I believe this is an easy way to understand how much the special assessment will cost you over 15 years. The staff’s salary will be covered by the association fees. The goal here is to simply break out the budget for the loan. Required fields are marked *. Are you comfortable paying the dues budgeted when considering the Shores of Panama building and amenities? The pool and club also received the revenue from the guests. 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. Avg. The pool holds an astonishing 330,000 galloons in its lagoon style. 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. No one knows Shores like Star RE Agent Karen Marceaux! I listed two units at the Summit with Chris. 9900 S Thomas Dr # 2023, Panama City, FL 32408 is a condo unit listed for-sale at $315,000. 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?! Covering Scenic 30A, Santa Rosa Beach, Destin, Miramar Beach, and Panama City Beach. from $99 per /nt from $1800 per /mo Book Now. Save Property. HOA. We provide a list of the board members and property manager for Shores Of Panama Resort Hoa. 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. Listing courtesy of Lifes A Beach Real Estate, LLC. The 16.2 million paid by the association for the pool averages to $23,137 per unit on average. 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. List Price . This one time charge will provide your party with pool wristbands and 1 parking passes. Premier real estate team for investment properties, distressed real estate, foreclosures, bank owned property and short Sales in Northwest Florida. If you go fishing or shopping one day and dont use the facilities, you dont have to pay the $30.40 for that day. He helped us ready o... We have worked with Chris several times on the purchase of Condos 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. Other reasons for a special assessment may be to replace old furniture in the lobby, retile the pool or redecorate the building. Operations, Reserves, and loans (if any). 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. If you would like a history of the building, you may want to look at my Shores of Panama Oversimplified article. Obarrio, Panama Copyright © 2020 Panama Equity. I believe it is an easer way to compare Shores with other condominiums. 12. 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. 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 … 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. Other Fees at Shores of Panama Beach Resort. These special assessments usually show up when you need to paint a building. 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. My name is Wayne Hults. This is a one time contribution to the home owners association required of all first time buyers in the building. The actual math to understand the Shores of Panama budget is significantly more complicated. Chris was a godsend in helping me choose a condo. Example. They were slightly over priced, but I was willing to wa... Chris is an honest, hard working real-estate agent. The 1,102 sq. From the North. Gulf front condos for sale. This is on a case by case basis and varies based on the administration and owner’s willingness to pay for such services. Welcome to the Shores of Panama Unit 2008. 106. Save. The operating budget and pool revenue are independent of that. Property Description. Take a look at our condo's location … However, my … The Shores of Panama Condos for sale in Panama City Beach. View more property details, sales history and Zestimate data on Zillow. This means that they end up needing special assessments. This gives you a better comparison to other condominiums. To be fair the payment to the club was $1,394,500 per year and could increase each year. After that, the homeowners vote to determine a president, treasurer, and secretary of the board. 1-Bedroom: 1 parking pass and 6 wristbands for guests 8 years and older. Registration Fee A fee of $60 plus tax will be collected upon arrival at Shores of Panama. 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 … What is an Initial Capital contribution? This one time charge will provide your party with pool wristbands and 1 parking passes. Find 23 photos of the 9900 S Thomas Dr #2023 condo on Zillow. For more details, please contact the property using … Shores of Panama will continue to strive for perfection and continue to be a leader in the market. Shores of Panama 403. 3 Bedrooms 2.5 Bathrooms Condo in Panama City Beach. Shores of Panama. Its club assets include a 14,000-square-foot beachfront pool complex, bar and grill, spa, fitness center, indoor pool and meeting rooms. 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 Reply. This unit is updated 1 Bedroom 2 Bath Condo with Bunk Room with Barn Door for privacy with the 2nd bath a step away. 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. The following fees and deposits are charged by the property at time of service, check-in, or check-out. 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 … View Photo Gallery (41) Saved! from $80 per /nt from $6000 per /mo Book Now. Understanding the operating budget is outside the scope of this article. Developers are required to administer the building for the first year of operation. Dues are made up of the operating budget, reserves, and loans (if any). WELCOME TO 29201 EDEN SHORES DR. Most home owner boards usually select a third party building administrator. Here is my estimate of the percentage of the dues going towards the loan taken out to pay for the pool and club purchase. Now $82 (Was $̶1̶4̶9̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. Get the scoop on the 31 condos for sale in Panama City, FL. **Shores of Panama Resort charges a flat fee of $60 at check in. Many associations get a handle on reserves 5-7 years after the building conveys. Most if not all buildings will have some sort of front desk/security/concierge position. Med. It is a matter of opinion and controlled by the association board members. If you pay $220,000 for a one-bedroom. Developers reserves are often underfunded. You can also get a feel for the amount dues should go down after the loan is paid off. Learn more about local market trends & nearby amenities at realtor.com®. Beautifully Decorated 4th Floor Gulf Front Unit 402, Amazing Views, Free Rsvd Parking Property Details. The goal here is to simply break out the budget for the loan. panama city beach real estate best buys. Ft. Jeanne says: November 11, 2008 at 11:53 am. Shores of Panama will be paying off the loan for the pool and club purchase for the next 15 years. That rate generally varies from $.80 – $3.50 per square meter, or $.07 – $.32 per square foot. This section is my attempt to help you break down the math with my estimates. My HOA fees were only $160 per month and included exterior building maintenance, water, landscaping, and access to a community pool and tennis courts. Unless otherwise stated, these fees are not mandatory. 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. Best resort. 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. You should acquire a copy of the HOA's operating financial statement so that you understand how the HOA fees are being allocated and … Mobile: + 507 6030-6782 Search all panama city beach listings. USA Direct: +1-404-382-0398. LOCATED IN THE HIGHLY DESIRED EDEN SHORES NEIGHBORHOOD OF HAYWARD, THIS YOUNG, MOVE 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. They only apply if guests choose to use these services. The 16.2 million paid by the association for the pool averages to $23,137 per unit on average. This a 3rd floor unit at Shores of Panama and is on the East end of the condo project in Phase II. Directions. 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. So, it was clearly in the best interest of the association to purchase the pool and the club at some point. Property Details . Shores of Panama is one of the largest resorts on Panama City Beach. Edgewater is a good comp for association dues because they have a similar size lagoon pool, but more amenities. **Shores of Panama Resort charges a flat fee of $60 at check in. All rights reserved. There are also many other buildings with lower association dues. This unit sleeps 6 and is a rental machine with average income $38k per year.
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