Jeanne says: November 11, 2008 at 11:53 am. Each building has a dollar amount that it cost to run a building. There are also many other buildings with lower association dues. Its not per person so the $212 would be the charge for a weeks stay. This one time charge will provide your party with pool wristbands and 1 parking passes. Now $82 (Was $̶1̶4̶9̶) on Tripadvisor: Shores of Panama Resort, Panama City Beach. 1-Bedroom: 1 parking pass and 6 wristbands for guests 8 years and older. In 2019 the association reported a 13.55% increase in dues. Like most new buildings, reserves were not funded properly for years. This is a one time contribution to the home owners association required of all first time buyers in the building. This section is my attempt to help you break down the math with my estimates. 9900 S Thomas Dr # 2023, Panama City, FL 32408 is a condo unit listed for-sale at $315,000. List Price . Listing courtesy of Lifes A Beach Real Estate, LLC. THIS UNIT IS HIGHLY REVIEWED. These special assessments usually show up when you need to paint a building. Dues are made up of the operating budget, reserves, and loans (if any). **Shores of Panama Resort charges a flat fee of $60 at check in. Menu; Home; Search Tools. The goal here is to simply break out the budget for the loan. 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. Association dues are usually made up of three separate cost centers. Shores of Panama. Shores of Panama Resort, #403, Amazing Views Wrap Around Balcony, Rsvd Parking Property Details. 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. This gives you a better comparison to other condominiums. 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. Developers reserves are often underfunded. Take a look at our condo's location …Wow! LOCATED IN THE HIGHLY DESIRED EDEN SHORES NEIGHBORHOOD OF HAYWARD, THIS YOUNG, MOVE IN The Shores of Panama Resort holds the distinction of being one of the most popular destinations on Panama City Beach. Investment property. $292.11. You can also get a feel for the amount dues should go down after the loan is paid off. Avg. The Shores of Panama Condominium Owners Association reached an agreement to purchase the amenities from Shores of Panama LLC, a real estate investment group. 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. 9900 S Thomas Drive 1423, Panama City Beach, Florida FL 32408. Other reasons for a special assessment may be to replace old furniture in the lobby, retile the pool or redecorate the building. from $80 per /nt from $6000 per /mo Book Now. Med. Who establishes the building associations? What about Due diligence for new buyers? Shores of Panama is one of the largest resorts on Panama City Beach. Welcome to the Shores of Panama resort, a family-friendly retreat in Panama City Beach. 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. Many associations get a handle on reserves 5-7 years after the building conveys. It is a matter of opinion and controlled by the association board members. Developers are required to administer the building for the first year of operation. 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. My HOA fees were only $160 per month and included exterior building maintenance, water, landscaping, and access to a community pool and tennis courts. Beautifully Decorated 4th Floor Gulf Front Unit 402, Amazing Views, Free Rsvd Parking Property Details. Shores of Panama is one of the largest resorts on Panama City Beach. Your email address will not be published. Search all panama city beach listings. Reservation Fee A fee of 7% will be assessed on all reservations. ft. condo is a 2 bed, 3.0 bath unit. Just spoke with shores of panama people today and there is an ammenity fee of $30.40 a day to use the pools etc. 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. No one knows Shores like Star RE Agent Karen Marceaux! This a 3rd floor unit at Shores of Panama and is on the East end of the condo project in Phase II. Gulf front condos. This Eden Shores neighborhood house is For sale for $838k. Best resort. Gulf front condos for sale. Facilities fee: $36 per accommodation, per night ; The above list may not be comprehensive. Ft. For more details, please contact the property using … 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. Association dues below show monthly dues minus my estimate of the dues being put toward the loan for the next 15 years. Are you comfortable paying the dues budgeted when considering the Shores of Panama building and amenities? The 1,102 sq. 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. 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. In some cases, water is also included. 9900 S. Thomas Road Panama City Beach, FL 32408 (888) 402-5155. Here is my estimate of the percentage of the dues going towards the loan taken out to pay for the pool and club purchase. 9,463 were here. 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. What about special assessments? 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. 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 … Shores of Panama 403. There is a lot to Shores of Panama. 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 The actual math to understand the Shores of Panama budget is significantly more complicated. Save Property. View more property details, sales history and Zestimate data on Zillow. HOA. Since there was not a special assessment the association needed financing. MLS # 701784 Learn more about local market trends & nearby amenities at realtor.com®. Sign Up for Listing Alerts. $315,000. If you would like a history of the building, you may want to look at my Shores of Panama Oversimplified article. That rate generally varies from $.80 – $3.50 per square meter, or $.07 – $.32 per square foot. Shores of Panama will be paying off the loan for the pool and club purchase for the next 15 years. Most home owner boards usually select a third party building administrator. DOM. Property Details . Now is your chance to own a piece of paradise in the beautiful Shores of Panama. This article will look deeper into the 2019 dues and what you can expect in the future. When compared to other gulf front buildings in Panama City Beach, Shores of Panama’s dues can seem high at first glance. WELCOME TO 29201 EDEN SHORES DR. 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 … Most if not all buildings will have some sort of front desk/security/concierge position. Best Panama City Beach Realtor Cindy Shoemaker. The staff’s salary will be covered by the association fees. You should acquire a copy of the HOA's operating financial statement so that you understand how the HOA fees are being allocated and … 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. Get the scoop on the 31 condos for sale in Panama City, FL. For starters, the pool was designed by the same people who designed many of Disney World and Universal Studio's water features. Reply. I believe it is an easer way to compare Shores with other condominiums. $ / Sq.Ft. We will cover reserves and the loan. 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. Required fields are marked *. Once you are done marveling over the pool, you will have to take in the breathtaking views. Understanding the operating budget is outside the scope of this article. He helped us ready o... We have worked with Chris several times on the purchase of Condos in Panama City Beach. Home on 29201 Eden Shores Dr in Hayward CA 94545. Like Like. I believe this is an easy way to understand how much the special assessment will cost you over 15 years. 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. There are several condos in Panama City Beach that have equal or higher association dues. 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. What do these building association fees cover? 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. 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. We provide a list of the board members and property manager for Shores Of Panama Resort Hoa. 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?! The following fees and deposits are charged by the property at time of service, check-in, or check-out. Unless otherwise stated, these fees are not mandatory. From the North. If you have questions on other topics regarding the Shores of Panama, you can feel free to contact me. 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. The fee is subject to change as it is set by the onsite HOA. Operations, Reserves, and loans (if any). Top ranked realtor. Price $289,950 Listing ID: 704734. 12. This math below is just my estimate. 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. The pool holds an astonishing 330,000 galloons in its lagoon style. Shores Of Panama Phase I Condos for Sale January 15, 2021. 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 is a brand new unit and is currently in the process of being furnished by the bulk investor. What is an Initial Capital contribution? 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. ** **LOW Monthly Winter Rates -Not Available to Guests under age 25* Snowbird Season runs November through February on a monthly basis. 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. Promo code & hotel info. The 16.2 million paid by the association for the pool averages to $23,137 per unit on average. 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. This is foolish without understanding why association dues are where they are. Shores of Panama 402. My name is Wayne Hults. Most condos do not fully fund reserves. This one time charge will provide your party with pool wristbands and 1 parking passes. Chris gave good advice through the sales process... Chris was right with his recommendations and guidance from the very beginning. The Shores of Panama Condos for sale in Panama City Beach. To be fair the payment to the club was $1,394,500 per year and could increase each year. Other Fees at Shores of Panama Beach Resort. Covering Scenic 30A, Santa Rosa Beach, Destin, Miramar Beach, and Panama City Beach. This is on a case by case basis and varies based on the administration and owner’s willingness to pay for such services. 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. A quorum is required for any new rules to pass within the administration. Directions. 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 … Registration Fee A fee of $60 plus tax will be collected upon arrival at Shores of Panama. Mobile: + 507 6030-6782 2 Bedrooms 2 Bathrooms Condo in Panama City Beach. 106. The 16.2 million paid by the association for the pool averages to $23,137 per unit on average. Listed. 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. Welcome to the Shores of Panama Unit 2008. The goal here is to simply break out the budget for the loan. Obarrio, Panama If you pay $220,000 for a one-bedroom. This unit has amazing gulf and west facing sunset views. This unit is updated 1 Bedroom 2 Bath Condo with Bunk Room with Barn Door for privacy with the 2nd bath a step away. Condos for Sale in Shores of Panama, 9900 S Thomas Drive, Panama City Beach, FL 32408: Get new listing alerts delivered to your inbox. panama city beach real estate best buys. Property Description. This math below is just my estimate. These funds are used to start the association. This gulf front unit is owned by the bulk buyer of Shores of Panama and has not been released for sale. That rate generally varies from $.80 – $3.50 per square meter, or $.07 – $.32 per square foot. Property Description. 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A family-friendly retreat in Panama City Beach, Florida FL 32408 is a 2,. How much the special assessment will cost you over 15 years the administration and ’... Lifes a Beach real estate, foreclosures, bank owned property and short sales in Florida... $ 1,394,500 per year and could increase each year take in the future the! Zoning: r2347367362 the dues being put toward the loan an incredible location an incredible location are made of... Access to 487 feet of Beach front property for guests 8 years and older choose to use pools! Better comparison to other condominiums when considering the Shores of Panama people today and there is also access 487!