194 Spartina Circle in WaterColor is an REO for 900K!

WaterColor has had some really great distressed property buys in the past two years. There have been some amazing short sales and foreclosures sold in WaterColor since 2008. In fact, of the 282 homes sold 45 of them have been short sales or Bank Owned Property. WaterColor has consistently been a top selling development on 30A and almost all of the distressed inventory is gone. New distressed inventory is sparse with new foreclosure filings down from a peak of 13 homes in 2008 to only 5 in 2011.

194 Spartina is in the Camp WaterColor District and is conveniently located near the Camp WaterColor pool and park. The back of the home is right off a small secluded park that family and friends can enjoy. This foreclosure in WaterColor is a spacious 3,595sf with 4 Bedrooms and 4 Baths. Built in 2008, this home is loaded with the luxury elements of a WaterColor home including: Hardwood floors, granite counter tops, stainless appliances, extensive porches and outdoor amenities.

With foreclosures and REOs in short supply, this WaterColor bank owned property will not last long. For more information on 194 Spartina in WaterColor please call Craig Baranowski 850-259-1788 or Tracy Baranowski 850-259-4270 or email us info@teambaranowski.com.

30A Short Sales

30A Foreclosures and REOs

WaterColor Homes for Sale

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42 Trimingham Lane in Rosemary Beach Last of the REOs

Is this the last REO or Bank Owned Property in Rosemary Beach? As of today, this is the ONLY REO in Rosemary Beach available on the market. This does not mean that there will not be anymore foreclosures in Rosemary, however, I can say that last year there were over 23 distressed properties sold and new foreclosure starts in Rosemary Beach are almost nonexistent.

In 2009 there were 21 foreclosure starts in Rosemary Beach and in 2011 there were only 3, which represents an 85% reduction in foreclosure starts. This is a very positive sign for our market and signals a massive shift in our market. It is my opinion that 2012 will see the market shift that has been slowly turning for the past 12 months. 2012 has already been a fantastic year with my buyers rushing in to get the last of the great buys.

42 Trimingham could be one of the last REOs in Rosemary Beach for a long time. This small cottage in Rosemary Beach overlooks Triangle Park. With close proximity to the Sky Pool, Fitness Center and Tennis, you will be just steps away from Rosemary amenities. Designed by Piazza Architecture, this home exudes charm and quality. Inside you will find wood and tile floors throughout, high ceilings, solid surface countertops and a stunning tower with built in beds. Outside is a refreshingly large 10×20 pool just waiting for an evening party.  If you are looking to purchase in Rosemary Beach for under $700K, this may be the last window of opportunity to do so. This property will not last thru the weekend!

For more information on 42 Trimingham Lane in Rosemary Beach please call Craig Baranowski 850-259-1788 or Tracy Baranowski 850-259-4270 or email us info@teambaranowski.com.

30A Short Sales

30A Foreclosures and REOs

Rosemary Beach Homes for Sale

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Foreclosure and Short Sale Inventory is Depleting on 30A and Destin

Foreclosures and short sales continue to be the hot items in Real Estate. In 2011 we saw a surge of foreclosures and short sales sell and move off of the market. The good news is that inventory is dwindling and demand has increased for great buys on distressed property. The demand is so high for REOs and short sales, that most transactions…if not all, have multiple bid situations with savvy buyers competing for the property. Lis Pendens or pre-foreclosure starts have declined dramatically since the peak in 2009. This means that new distressed inventory is drying up and the bulk of our distressed property has been foreclosed and sold to new owners.

The high end luxury market continues to attract buyers who flock to our beaches to buy at historically low prices and take advantage of the market downturn. In 2011 there were 161 homes that sold for over $1 million along Scenic 30 and Destin with 25 of these homes being either a foreclosure or a short sale. Last year’s Most Expensive Distressed Property list 2010 was dominated by Destin and Miramar Beach. This year you have to go down to the 9th spot to find a property in Destin or Miramar Beach. Scenic 30A takes the top 8 spots.  Note that all of the top 5 distressed properties sold were short sales. My advice for 2012…if you want a great buy on a distressed property, you need to buy now before there is nothing left.

#1 Most Expensive Distressed Property Sold – 143 St. Lucia in The Retreat

143 St. Lucia was a top distressed property pick in December 2oo9. It was originally listed for $4.29 million and then reduced to $3.3 million. Built in 2001 this beautiful gulf front home in The Retreat is 4,400sf with 4 Bedrooms, 5.5 Baths. This home was a short sale and sold for $2.7 million in September 2011.

#2 Most Expensive Distressed Property Sold – 2292 E. Co. Road 30A in WaterColor

This new gulf view cottage south of 30A in Seaside is a three story classical architecture home. A spacious 3,360sf with 5 bedrooms and 5 baths built in 2009. One of three distressed homes sold in Seaside in 2011. This home sold for $2.4 million in September 2011.

#3 Most Expensive Distressed Property Sold – 8 Shingle Lane WaterSound Beach

This amazing home in WaterSound Beach was a top distressed pick in January 2010 and was the most expensive distressed property on the market at that time. This magnificent home was about 90% complete and needed a buyer to come in and finish the home. Which is exactly what happened…check it out. Built in 2008 this home is a massive 6,297sf with 6 Bedrooms, 7 Full Baths and 1 Half Bath. Sold for $2.2 million in July 2011.

#4 Most Expensive Distressed Property Sold – 1920 E. County Hwy 30A in WaterColor

Nestled among the beautiful Dunes along the Gulf of Mexico this unique home in WaterColor offers incredible Gulf views affording both privacy and convenience. It is located just steps away from WaterColor’s Beach Club and Town Center. This fully furnished 2538 sq. ft. 4 bedroom, 4 1/2 bath home features walls of windows with timeless views of sand dunes and emerald waters. Built in 2006 and sold for $2.1 million in April 2011.

#5 Most Expensive Distressed Property Sold – 121 Gulf Bridge Lane WaterSound Beach

WaterSound Beach had some excellent distressed properties that have sold in the past 18 months. 121 Gulf Bridge Lane was one of my favorite homes in WaterSound Beach with its stunning views of Camp Creek Lake and the Gulf of Mexico. The second story living, dining and kitchen offered some of the best views on 30A. Built in 2004, this 3,700sf home in WaterSound has 5 Bedrooms and 5.5 Baths. Sold for $1.8 million in July 2011.

If you would like any more information on these ultra luxury homes or the latest list of luxury distressed homes for sale give Tracy Baranowski a call at 850-259-4270 or Craig Baranowski a call at 850-259-1788 or email us at info@teambaranowski.com.

30A’s Most Expensive Homes Sold in 2011

30A’s Most Expensive Land Sold in 2011

Gulf Front Short Sales & Bank Owned Property

30A REOs & Bank Owned Property

30A Short Sales

Destin Gulf Front Short Sales & Bank Owned Property

Million Dollar Carillon Beach Luxury Condo at a Third of the Price!

The Sunrise and Sunset Luxury Condos at Carillon Beach originally sold for over $1.1 million. These condos are loaded with high end luxury amenities including a Wolf gourmet gas range, built-in refrigerator, wine fridge, gas grill on the porch, steam showers, custom cabinetry, spacious floor plan and a massive over-sized balcony. If you are looking for a luxury primary residence or second home this condo at Carillon Beach is for you. Carillon amenities include: gated community, pools, tennis  courts, over 3000 feet of private beach, fishing, park areas and playground. Restaurants, shopping and golf and all located within minutes of beautiful Carillon Beach. Conveniently located within minutes to Pier Park and Scenic 30a. Come and see for yourself and make Sunset at Carillon Beach your new home.

For more information on this bank owned condo in Carillon Beach please call Craig Baranowski 850-259-1788 or Tracy Baranowski 850-259-4270 or email us info@teambaranowski.com.

Carillon Beach Homes and Condo Search Panama City MLS

Carillon Beach Homes and Condo Search Emerald Coast MLS

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Foreclosure in Miramar Beach at Emerald Waters Village

Emerald Waters Village is a gated community in Miramar Beach about 100 yard from there private deeded beach access just off of Holiday Rd.  Having opportunities to “steal” a property is something of the past here in Destin with property value on the increase over the past 12 months.  One of the opportunities still to get Destin real estate under market value is looking for a well maintained foreclosure and being able to place an offer fast.  When we have seen foreclosure properties hit the market at a below market value over the past months there has been multiple offers within the first week.  It is more important than ever to have someone working toward your specific real estate needs locally in Destin or Miramar Beach so when a property that you may be interested in hits the market you know the same day.  One way is to sign up for a Property Alert, which will send you all homes for sale in Destin, Miramar Beach, Sandestin or Santa Rosa Beach the second they hit the market.  This way you can be one of the first to know and act.  Increasing your odds of getting the best price on the home or condo you are interested in.

This large beach house in Miramar Beach is being offered as a foreclosure and has over 3300 square feet with 4 bedroom and Gulf views from the 2nd and 3rd floors.  Emerald Waters Village has a pool recreation facilities and more included in there low $375 quarterly HOA fee.  The home has multiple balconies for enjoying the fresh sea breeze.  The location which is right off of Holiday Rd in Miramar Beach offered quick access to shopping at the Silver Sands Outlet Mall, local beachfront restaurants like Whales Tail and Pompano Joe’s as well as some of my favorite local restaurants off of Hwy 98 like Vintage and Cuvee Bistro.  The Destin Commons are only about 5 minutes away with more shopping, movie theater and good eats.

Some of the things to remember when making an offer on a foreclosure in Destin and Miramar Beach is that you need to have Pre-Qualification letter from a bank if financing or proof of funds if paying cash.  You will usually get a response from the bank on your offer within 3 days.  Some foreclosure properties have certain restriction to buying that differ on a case by case basis so having a realtor that is competent in Short Sales and Foreclosures is important.  Furthermore you want a real estate specialist from the specific area.  Team Baranowski has real estate specialist in Destin, Miramar Beach, Sandestin, Santa Rosa Beach, 30A and Panama City.  Call Danny Margagliano for for information on Emerald Waters Village or area information  at 850-830-4747

66 St Francis Dr
Miramar Beach, FL 32550

MLS:  569018                              Price:  $479,900
Sq/Ft:  3394                                 Bedroom: 4
Bathrooms: 4                            Subdivision: Emerald Waters Village

Full Details on 66 St Francis Dr Miramar Beach, FL

Emerald Waters Village Homes for Sale

Miramar Beach Homes for Sale

4 Bedroom Home for Sale in Crystal Beach

Looking for a great investment property at the beach in Destin’s community of Crystal Beach?  Here is a large 4 bedroom home for sale with 3 bathrooms, Gulf views, and a private pool.  The deeded beach access is at the end of the street and the house has a 2 car garage that leads to the a covered patio and your private pool.   When people are searching for vacation rental at the beach a pool is a big plus and also will bring in more rental income.  This large 2800 square foot home will give guests all the room and space they need to entertain, have fun and want to come back year after year.  Crystal Beach is a very high demand area in Destin for rentals and has proven to be a wonderful place to own a second home or vacation rental.  For a detailed investment income spreadsheet call Danny Margagliano at 850-830-4747 or email Danny@TeamBaranowski.com

101 Shirah St Destin, FL full property details

Search all Homes for Sale in Crystal Beach, Destin

19 Spanish Town Lane is a Short Sale in Rosemary Beach!

As we near the end of 2012 I am beginning to sound like a broken record every time I speak with clients. “Distressed inventory is depleted, foreclosures are selling quickly, short sales are drying up in some communities”…clients looks at me as if I was speaking a foreign language. If you listen to the media there is a glut of distressed shadow inventory and a huge wave of foreclosures that is going to sweep our nation. However, if you look at our sales transactions and the amount of distressed inventory you will see a different picture.

There was a time when we have dozens of distressed properties in every community along 30A, including Rosemary Beach, WaterColor, WaterSound and Seacrest Beach. Going through our MLS we currently have 3 short sales in Rosemary Beach and no foreclosures. WaterColor there are only 6 distressed properties on the market. This is a severely depleted number from 2009 and 2010 and the distressed inventory is going away. 19 Spanish Town Lane in Rosemary Beach is one of the most recent short sales to come on the market and one of the last. Additionally, this is the most expensive short sale currently on the market on 30A! One of the few remaining ultra luxury distressed properties on 30A!
This luxury home in Rosemary Beach sits on a corner lot on the south side of County Road 30A. The lot fronts a small park and is next to a boardwalk leading to the beach. This custom home is tricked out with the essentials to make this a premium property in Rosemary Beach. The main house has an elevator to all three floors and there is a  three-story carriage house which includes a two-car garage. The carriage house also has a sleeping loft, which doubles as a sixth bedroom. The garage contains a washer and dryer for guests. The property has stainless appliances, American walnut hardwood floors, gorgeous stone floors in the bathroom and granite counter tops throughout. Rosemary Beach has all the amenities you’re looking for such as swimming, shopping, tennis, kayaking, and biking just to name a few! Don’t miss the perfect opportunity to be a part of this exclusive community.

For more information on 19 Spanish Town Lane in Rosemary Beach please call Craig Baranowski 850-259-1788 or Tracy Baranowski 850-259-4270 or email us info@teambaranowski.com.

30A Short Sales

30A Foreclosures and REOs

Rosemary Beach Homes for Sale

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Fannie Mae and Freddie Mac Own More Than 180,000 Foreclosures

Our clients ask us every day if the market has hit bottom and how many more foreclosures will there be on the horizon. The truth is, the Emerald Coast has sold a significant number of REOs or Bank Owned Property since 2009. In fact, 4,830 residential REOs have been sold since 2009 for both the Bay County and Emerald Coast MLS. Our local inventory of foreclosures and REOs is dwindling.

Fannie Mae and Freddie Mac hold 122,616 and 60,000 REOs which is over 180,000! This is a staggering number. Over 50% of these REOs are owned by eight states: Arizona, California, Florida, Nevada, Illinois, Indiana, Michigan and Ohio. Fannie Mae sold more than 58,000 REOs in the third quarter of 2011. This seems like a massive number, but it is 18% below Q2 2011′s sales volume. At the current rate of sales, Freddie Mac holds 15 years of inventory and Fannie Mae holds nearly 4 years. The grim news is that Fannie and Freddie are currently taking in more REOs than they are selling. Delays from mortgage servicing troubles, new foreclosure regulations and state laws, such as the one in Nevada making it a felony to robo-sign affidavits, is pushing the foreclosure timeline out to a national average of two years.

All of the foreclosure delays, rumors of massive shadow inventory and an impending deluge of new foreclosures makes the real estate market look uncertain at the nation level. Locally, I believe we are 12 to 18 months ahead of the national average on our recovery. We have burned through much of our foreclosure inventory. There are subdivisions and condo projects where almost all of the distressed inventory is gone and off the books. This is great news and a good sign to our market recovery.

Construction starts in Walton County are on the rise with new construction along 30A increasing significantly in WaterColor, WaterSound, Rosemary Beach and Seacrest Beach. If 2011 was an indication of the road ahead, I believe it is a positive one. Real Estate on both the low end and high end is flying off the shelves. Inventory is down and construction demand is up. We are looking forward to a strong finish to 2011 and a very promising 2012.

30A REOs and Bank Owned Property

Destin, Sandestin, Miramar Beach Foreclosures

Panama City Beach Bank Owned Property

REO and Foreclosure HOT SHEET

Emerald Coast MLS REOs SOLD since January 2009 to November 15th 2011

• 2,446 Sold Combined Residential REOs SOLD
• 580 Bank Owned Residential Land SOLD

Panama City MLS REOs SOLD since January 2009 to November 15th 2011

• 1,583 Sold Combined Residential REOs SOLD
• 221 Bank Owned Residential Land SOLD

Gulf Front Unit I-1501 in Grand Panama is a Freddie Mac Foreclosure

Grand Panama Beach Resort is becoming on of the most popular luxury resorts on Panama City Beach. Unit I-1501 is a Freddie Mac foreclosure and is currently under the Feddie Mac first look initiative until November, 25th 2011. During the first 15 days a property is listed in the MLS, only offers fro owner-occupants (primary residence only), second home purchasers, public entities or their designated partners will be considered.

Unit I-1051 is a gorgeous 3 Bedroom, 2 Bath gulf front luxury condo and is a popular west corner unit. This Grand Panama corner unit has an extra large balcony for soaking in captivating sunsets and panoramic views of the gulf and sugar white sand beaches. This luxury condo will make an excellent second home or investment property capable of bringing in good rental revenue.

This condo will not last long! If you would like more information on Grand Panama Unit 1-1501, please call Craig Baranowski 850.259.1788 or info@teambaranowski.com.

Grand Panama Beach Resort Condos for Sale

Grand Panama Beach Unit I-1501 Investment Analysis

Panama City Beach Bank Owned Gulf Front Condos

 

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Royal Seaesta Unit 8 in Miramar Beach is a BofA Streamlined Short Sale

1986 Scenic Gulf Dr unit 8 at Royal Seaesta is the absolute best deal in Miramar Beach! Located across the street from Frangista Beach, this unit is a massive 1640 square feet with 3 bedrooms and 3 bathrooms and is a short stroll to the beach.

Great Gulf views from the master bedroom on the second floor and deeded beach access make this unit at hidden gem in Miramar Beach. This is a Bank of America Streamlined Cooperative Short Sale which means the price is approved and is ready to close.  If you are going to purchase a short sale…this is fastest and easiest short sale on the market.

The entrance on the first floor brings you directly into the open living room and open kitchen. The floor plan is perfect for entertaining. Priced to sell at $159,250!!! You can’t find anything that will compare with this $97/sq ft Gulf view townhouse. This is a corner unit and you will appreciate all the extra natural light. The unit comes with 2 parking spaces and has deeded beach access. Built in 2000 and very low HOA fees. Anyone can make great use of this property as a vacation rental, second home or primary residence.

For more information on Royal Seaesta Unit 8, please Call Danny Margagliano at 850-830-4747  or email danny@teambaranowski.com for more information.

Miramar Beach Gulf View Condo Search

1986 Scenic Gulf Drive Unit 8 Investor Analysis

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Bank Owned Lot 97 Morgan’s Trail in The Preserve at Grayton Beach

The Preserve at Grayton Beach is located off Scenic 30A a short 3 miles west of Seaside and WaterColor. The deeded beach access at The Preserve at Grayton has one of my favorite “Old School Style” boardwalks that meander through the native scrub oaks to the gulf. If you are looking for a great lot to build your dream home with low HOA fees, REO Lot 97 Morgan’s Trail is an excellent choice. Originally purchased for $159,000 in early 2004 before the market really heated up. Some lots in the development sold for over $450,000 in 2005! Building costs are at a historical low and new home inventory on 30A is minimal.

One of the nicest lots in The Preserve at Grayton Beach. This Bank Owned lot backs to the green space and is a large wide lot. This beautiful development located on Scenic 30A in the heart Santa Rosa Beach. The neighborhood is gated with 2 swimming pools, complete with 2 club houses, 4 tennis courts and deeded beach access, just a short stroll away. This is a great time to purchase a large lot and build your dream home. Premier inventory such as this lot will not last long!

For more information on Lot 97 Morgan’s Trail in The Preserve at Grayton Beach, please call Craig 850-259-1788 or Tracy 850-259-4270 or email us info@teambaranowski.com.

Preserve at Grayton Beach Land for Sale

Preserve at Grayton Beach Homes for Sale

30A Bank Owned Land

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Dinner at the Red Bar and Stroll Back to Your Beach Cottage!

Back under contract in 24 hours and just sold December 1st, 2011 for $900K!

268 Garfield Street is in the prime location of Grayton Beach. Nestled on the popular Garfield Street right behind the Red Bar, this 4 Bedroom 4.5 Bath beach house will make a great family vacation home or excellent vacation rental. This a bank approved short sale and is ready for a quick close! This property just came back on the market and will not last long!

Gulf views and beach access are unobstructed and will offer permanent views of the gulf. One can walk from their front door right out onto the beach. With its prime location in Grayton Beach next to the Redbar and no HOA fees, this beach house will generate excellent rental income with a history of producing over $64,000 in rental income with owner usage. The beach house in Grayton Beach was originally purchased for $2.5million in 2005!

For more information on 268 Garfield Street please call Craig 850-259-1788 or Tracy 850-259-4270 or email us info@teambaranowski.com.

285 Garfiled Street Investment Analysis

Homes for Sale in Grayton Beach

Short Sales on 30A

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Bank of America is making positive strides with Short Sales

I have closed a lot of short sales. Specifically, I have closed numerous Bank of America short sales. My team and I have personally experienced the worst of the Bank of America when short sales were languishing in short sale purgatory for 12 months. We were there during Countrywide’s purchase by Bank of America. We were there during the transition to the Equator technology platform and we have personally experienced a positive evolution and optimization of Bank of America short sales. We have closed Bank of America HAFA short sales and Streamlined Cooperative Short Sales. Below are a few of our Bank of America blog posts that have received thousands of comments and discussions.

• Bank of America and Equator (Formerly REOTrans)…Short Sale Nirvana?
• Bank of America formerly Countrywide short sale process streamlined?
• Bank of America Implements HAFA on Equator for Short Sales
• Bank of America formerly Countrywide New Short Sale Policies and Guidelines
• Bank of America formerly Countrywide NEW NEW Short Sale Process…REOTrans.com
• Bank of America Implements Equator formerly REOTrans Platform for Short Sales
• New Short Sale Guidelines Encourage Sweeping Changes to Short Sale Process
• Bank of America Pilot Tests New Cooperative Short Sale Program
• Bank of America Short Sales Streamline Back Up Offers
  

In the past few months we have experienced a significant positive step forward in short sale processing by Bank of America. We are getting short sales approved in 3 to 4 weeks with Bank of America and have been increasingly optimistic about their commitment to continue to streamline their systems and processes.

Recently, I attended a presentation by Bob Hora, Senior Vice President of Mortgage Servicing, at Bank of America. Bob is new to Bank of America and has executive experience working at Fannie Mae, GMAC and Wells Fargo. During this presentation it was clear that Bank of America is making a significant investment in foreclosure alternative programs such as short sales. Bank of America does not want to foreclose on property and neither do their investors who own the mortgages.

Bob threw out some staggering numbers regarding Bank of America short sales. In 2009 Bank of America closed 40,000 short sales, 90,000 closed in 2010. In 2011, Bank of America will exceed 100,000 closed short sales! Many think that short sales may be going away, however Bank of America is preparing to close an estimated 170,000 short sales in 2012! That is an enormous 70% increase from 2011.

Bank of America is executing a multi-pronged approach to ensure the 170,000 short sales in 2012 close as efficiently and quickly as possible. A critical component is with targeted solicitations and outreach to homeowners in distress and present them with foreclosure alternatives. Bank of America has created the Home Transition Guide and a very informative website dedicated to homeowners in distress @ bankofamerica.com/hometransition. This new Home Transition Guide and new website is designed to educate and empower the customer to know their options and prevent a foreclosure.

Bank of America is committed to streamlining the short sale process for both the customer and the customers qualified Realtor:

• Keep the agent and customer informed
• Streamline the short sale process & timelines
• Increase short sale approval rates
• Assign specialists earlier in the process
• Constant communication with agent
• Commitment of increased staff for short sales
• Over 3,000 short sale staff including a dedicated call center
• Customer relationship modeling and single point of contact at BofA that will be with customer through the entire short sale process.
•  BofA SLA – Service Level Agreement: 2 day response time goal or Realtor has a right to escalate.
• Implemented a Closing Center of Excellence in Chandler Arizona. This group’s sole purpose is to close short sales.
• Expanding staffing and aligning by investor type
• Dedicated Customer Call Center
• Improve the quality of service and performance of Bank of America short sale vendors

Step up Education and Community Services

•  Foreclosure prevention education
• Awareness of community services
• In-market support and outreach
• Added 45 Customer Assistance Centers in Cities where customers can go in to get help with foreclosure alternatives
• New Home Transition Guide and website to empower the customer with viable foreclosure alternatives.

Bob Hora also discussed a few key reasons why short sales do not close including:

• Homeowner disengagement
• Foreclosure timeline – HAFA and Streamline short sales will postpone the foreclosure
• Short sale cycle times
• Multiple investors, lien holders and mortgage insurance companies can derail a short sale
• Fraud checks & policies – NEW

Bank of America also has made significant enhancements to their Equator short sale platform adding a Value Reconsideration Process where they can take a second look at valuations and get a quicker response to Realtors. Another critical piece is the ability to submit a new offer/ buyer without the short sale filing closing.

In addition to all of these changes Bob outlined three new streamlined stages to short sale problem resolution:

Short sale problem resolution 3 stages:

1. Contact your short sale specialist thru Equator. Response in 2 days
2. Escalate to team lead in Equator. Response in 2 days
3. Short sale customer care 1.866.880.1232. Staff of 800 people dedicated to short sale customer care.
4. Short Sale Super Team. Team of 120 people just to handle escalations. These are the best short sale specialists Bank of America employs.

Overall, I was very please with the message Bob Hora conveyed regarding Bank of America’s commitment to streamline the short sale process. We have already experienced many of the changes first hand and look forward to continued postitive progress from Bank of America.

Investor Alert! Coral Bay Village Unit 9 Short Sale $129,000!

Coral Bay Village Unit 9 at 100 Downing Street in Panama City Beach is an investor’s dream. This property is going to hit the market shortly and we are alerting our investors first! This unit is in excellent condition and is rental ready for a long term tenant. This 3 Bedroom 2 and 1/2 Bath Town Home has an estimated Cap Rate of 9.29% with only 20% down.

This West Indies style unit is a corner duplex in a 16 unit duplex/triplex community with brick paver street, lush landscaping, and community pool. This home features 12′ ceilings, stainless steel appliances, downstairs completely tiled, white bead board cabinetry in kitchen, wood on stairway and upstairs hallway. The upstairs features 12′ ceilings, carpet in master and guest bedroom, tile baths, stack washer/dryer. Coral Bay Village is a great location with close proximity to the beach, shopping and dining.

Located on the western end of Panama City Beach close to Scenic 30A and Pier Park. This duplex will make an excellent investment property or primary residence.

For more information on Coral Bay Village Unit 9 please call Craig 850-259-1788 or Tracy 850-259-4270 or email us info@teambaranowski.com.

Coral Bay Village Unit 9 Investor Analysis – Cash Flow, Holding Costs, Cap Rate

Panama City Beach Short Sales for Sale

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Investor Alert! Panama Palms Motel Foreclosure $1,450,000!

The Panama Palms Motel on 5607 Thomas Drive recently came on the market as a Bank Owned Property. This motel is a hidden gem for the savvy investor and can be a revenue generating machine with a projected Cap Rate of 23%.

Located on the eastern end of Panama City Beach and one row back from the beautiful white sand beaches of the Emerald Coast. The Panama Palms Motel sits on a large 1.5 acre site, which in my opinion is worth $1.45mil as raw land and its current zoning for a hotel. The motel has 44 units, an office with a manager’s apartment, a pool, a pool house, a remodeled duplex with gulf views, a single story cottage and more. There are four large parcels in all that make up this bank owned property.

The Panama Palms Motel is one row off the beach and offers gulf views from the second floor units and easy access to the gulf. Its location on Thomas Drive offers excellent drive by visibility from the street. With strategic renovations this Motel has the potential to bring in significant rental revenue. This property was originally purchased for $8.35 million and is a steal at the $1.45 mil offer price.

If you are interested in more information on the Panama Palms Motel or would like addition information, please call Craig Baranowski @ 850-259-1788 or email info@teambaranowski.com.

Panama Palms Motel Investor Analysis – Cash Flow, Holding Costs, Cap Rate

Distressed Commercial Real Estate – Panama City / Panama City Beach

Distressed Commercial Real Estate – 30A / Destin / Fort Walton Beach

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