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Beach Property near Panama City/Highway 30a

3,419 Views | 21 Replies | Last: 5 yr ago by mallen
mallen
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AG
We are looking to buy a vacation property (single family home) south of highway 30A between Destin and Panama City. I know a lot of Aggies frequent this area and some probably have property there.

We are looking at homes in and adjacent to Watersound where we have vacationed the past two years. Anyone own real estate in the area and can provide advice?

Obviously we are keeping a close eye on Hurricane Michael this week.
SteveBott
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AG
The question is will there be anything left.
94chem
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mallen said:

We are looking to buy a vacation property (single family home) south of highway 30A between Destin and Panama City. I know a lot of Aggies frequent this area and some probably have property there.

We are looking at homes in and adjacent to Watersound where we have vacationed the past two years. Anyone own real estate in the area and can provide advice?

Obviously we are keeping a close eye on Hurricane Michael this week.

Except for the last sentence, this seemed like a troll.
East Dallas Ag
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AG
My aunt is a realtor and spec builder in the area, specifically Destin but she works all the beach towns, if you need a contact there.
SteveBott
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AG
Mexico beach is just east

CJS4715 said:



CS78
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Should be no problem finding a fixer upper.
SteveBott
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AG
Might be the only option
SteveBott
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AG
Panama City

https://twitter.com/FOXNashville/status/1050094236299874304/video/1
cagwell10
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AG
My family has stayed in Seaside a few times and it is beautiful. In fact, my Uncle and his crew are staying there for a month around Christmas time.

Hope it survives the Hurricane. It's to the West of the path, so it should be alright.
mallen
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AG
SteveBott said:

The question is will there be anything left.
We are also considering new construction in Prominence just east of WaterSound. There is a good amount of new construction in that area.
mallen
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AG
Locals are reporting minor damage in South Walton county (Highway 30a).
Quote:

Very minor damage in SoWal - a few signs down, some trees here and there. Roads have been cleared and power is out most places.

https://sowal.com/forum/threads/hurricane-michael-official-news-info.94690/page-2
JSKolache
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AG
Terrible idea after this week. Just go for vacations and rent.
mallen
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AG
Great article on the importance of building codes:



https://www.nytimes.com/2018/10/14/us/hurricane-michael-florida-mexico-beach-house.html
BB2
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mallen,

I have been involved in buying, selling, developing,... several VR properties from Destin to So30A. What specific questions / information are you looking for?
mallen
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AG
BB2 said:

mallen,

I have been involved in buying, selling, developing,... several VR properties from Destin to So30A. What specific questions / information are you looking for?
Thanks, BB2.

What are the current building codes along 30a with respect to hurricane force winds?
What are your thoughts on Prominence and Watersound West?
We live out of state and would be renting out the property for a good portion of the year. We plan to hire a property management company. What are some challenges we need to be aware of in terms of making sure we generate good rental income?
94chem
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mallen said:

Great article on the importance of building codes:



https://www.nytimes.com/2018/10/14/us/hurricane-michael-florida-mexico-beach-house.html
Assuming you had insurance, wouldn't you rather be the house on the left in this picture?
mallen
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AG
The owner of that particular home still standing is probably in a pretty good position. He has a house he can use, rent, and enjoy. People aren't going to stop vacationing in Mexico Beach and I expect developers and builders will come in and have most of the beachfront properties rebuilt (to higher standards) in relatively short order. Tourism will drive development and most things will get rebuilt with a much stronger foundation, assuming the state makes the building codes more rigorous for NW Florida which I believe they will. I'm looking at homes on 30a as opposed to Mexico Beach. 30a has a much stronger tourism base and the homes there are newer on average which means the area has a higher tolerance for large storms.
94chem
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mallen said:

The owner of that particular home still standing is probably in a pretty good position. He has a house he can use, rent, and enjoy.
Maybe. I'm thinking of Katrina, where there would be no utilities there for months or maybe never. If people don't rebuild, why would the local municipality deliver any services? How will they get mail, Amazon packages, etc.? I toured NO 9 months after Katrina, and there were people with intact houses out in the suburbs - the only house of the block. It didn't look good. It's like having a terminal illness and not being able to use your life insurance.

My neighborhood is about 50% rebuilt from Harvey. The difference is that none of the homes were lost - only a few are being destroyed because they were one story.
schwack schwack
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AG
Quote:

Assuming you had insurance, wouldn't you rather be the house on the left in this picture?
Interesting point.
Diggity
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AG
good points, but not as big a deal for a vacation house.

I wold imagine they'll rebuild, but it won't look the same for a while.
BB2
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The building codes for South Walton County are on par with most south east coastal regions. Since mid 2000 they have been upgraded frequently and are listed on the county website. The specific enclaves (Rosemary, Alys, Watercolor...) usually have additional requirements and a list of approved builders that they will not deviate from. This is both good and bad in regards to permitting, subs, commodities...

The town of Prominence is a good place that's newer. I think it's a DR Horton development which off the So30A is not common until post 2007. It has the HUB with good amenities for families along with Deer Lake Park (I think) nearby. Watersound is estheticly nice with a good beach club for owner/guests. Watersound will cost more (usually) but on So30A this is the deciding factor in purchasing VRs, second homes,... Out realtor is Jonathan Spears (Sotheby's) and he can help as you get closer with the proscess. This would include just general info with no solicitation.

As property management go we have used 360 Blue the past four years but as with any there are pros and cons. The PMs will influence your profitability more than most think. There are PMs specific to regions as well as some being approved for the developments (St Joes,...)

The majority of destruction being shown in Mexico Beach is via old homes with lower building code from decades ago. Mexico Beach has height requirements and thus condo developers stayed away and concentrated in PCB. This is why there is variation in the same strip of the Emerald coast among prices, patrons,...

I could talk for hours on this subject so let me know if there are other questions. I've been visiting the region for approx 30 years and investing for approx 10 years. I have seen both the boom and bust of the emeral coast.
mallen
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AG
Thank you. Excellent info.
mallen
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AG
94chem said:

mallen said:

The owner of that particular home still standing is probably in a pretty good position. He has a house he can use, rent, and enjoy.
Maybe. I'm thinking of Katrina, where there would be no utilities there for months or maybe never. If people don't rebuild, why would the local municipality deliver any services? How will they get mail, Amazon packages, etc.? I toured NO 9 months after Katrina, and there were people with intact houses out in the suburbs - the only house of the block. It didn't look good. It's like having a terminal illness and not being able to use your life insurance.

My neighborhood is about 50% rebuilt from Harvey. The difference is that none of the homes were lost - only a few are being destroyed because they were one story.
I don't think you can compare Michael with Katrina in terms of devastation to residential communities. Katrina was far worse because it impacted far more homes and communities. Mexico Beach is a small beach town that will be rebuilt because people like to vacation there and retired individuals want to live near the beach. Some parts of Panama City might not be re-built for awhile because tourism doesn't drive that community like it does Mexico Beach and Panama City Beach. The residential communities that weren't re-built immediately after Katrina were likely neighborhoods without any economic driver for re-development.

I have family in Port St. Joe just east of Mexico Beach who got power back on Tuesday. I expect Mexico Beach will get power back soon enough. The big losers in all of this are the low income rural inland residents whose homes are destroyed and may never be re-built.
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