10-30-18 UPDATE
(Photo from original construction 2005)
As of Oct 30th these 9 units are on the market at NCC. The link at the bottom will take you to a realty site for additional information.
Unit / Asking Price / Owner's Name
401 $159,000 Lin
504 $135,500 Lewis
601 $145,000 Tucker
603 $145,000 Warren
609 $139,000 Gulf Blvd Partners (GBP)
706 $149,000 Hughes
1116 $131,000 G B P
1302 $149,000 G B P
1402 $149,000 G B P
---------------------
Gulf Boulevard Partners is the developer of Nautilus Cove. They got stuck with 56 units when the realty bubble burst, sold a couple and rent out those still unsold. You should buy from an actual owner rather than GBP as those units have been rented out many times whereas those being sold by individual owners have generally been better treated.
Note: Only 9 units are being lived in by actual owners. NCC is a low income rental complex although it has 'Condominium' in its title.
Units for sale are listed at:
https://www.panamacityhomesonline.com/panama-city-beach-real-estate/nautilus-cove-condo/
4/13/18
GULF BOULEVARD PARTNERS
Realizing that their inflated and unjustified prices for their 60+ unsold condos was not going to sell any of the remaining units, Gulf Blvd Partners started reducing their asking prices in late January.
The 2 listed below are a sample of what the ‘new’ prices are:
1302 Lighthouse Way Panama City Beach, FL 32407 $145,000
609 Cape Cod Dr, Panama City Beach, FL 32407 $135,000
Feb price for 1302 was $159,987
4 bed, 3 bath 1,400 sq ft
Built 2007 - On site 418days
HOA Dues: $870 quarterly
609 Cape Cod Dr.
02/16/2018 Price Changed $135,000
01/26/2018 Listed $149,987
As I say repeatedly on this site: These ‘developer’ units are hard used as rentals, they remain overpriced when compared to individually owned units and potential buyers should NOT buy from the developer when similar units can be had directly from owners.
https://www.panamacityhomesonline.com/panama-city-beach-real-estate/nautilus-cove-condo/
https://homesforsale.century21.com/property/1302-LIGHTHOUSE-RD-PANAMA-CITY-BEACH-FL-32407/87665593/detail
MISC INFO FYI:
A bulk sale of developer units took place Feb 2, 2018 where 6, 3 bedroom 2 bath, units in 3 buildings were told to Dawn M Peck and Donald K Rozhon.
The total price for the 6 units was $780,000 or $130,000 per unit.
Those units sold are:
214, 611, 614, 1002, 1006, 1008.
===================================================
Monday, March 19, 2018
Every now and then I 'google' the place to see if there is anything of note going on. This time around I see that NCC has put up an internet site. Long needed but they should to do a better job of it.
Communication with owners and even renters was always a problem (in that there wasn't any) and at last there is 'some' but it lacks details of what is going on.
Condo Assn meetings are for OWNERS, unfortunately hardly any ever showed up even at the Annual General Meetings, today I checked Bay County records (http://baypa.net) which show that owner occupancy is about 5.3%* and even getting that 5% to walk across the courtyard to attend was a problem.
The 'Meeting' notes give almost no information, you might wonder why they bother doing them.
NCC is really a downmarket rental property today, original owners have mostly sold out and moved on, those who remain have turned their units into rentals, as noted just 9 of 168 units are owner occupied.
Here is just a bit of recent info FYI. You can go to their site and take a better look for information. Go to: https://www.nautiluscovecoa.com/
* List of the 9 units that have 'Homestead Exemptions' as of 3/19/18
514 1401
613 1607
616 1604
801 714
806
Also I noted that 15 units (9%) are owned and rented out by Asians (mostly Chinese).
-------------------------------------------------------------
10/19/17
If you read the blog you will know that I left years ago and was very pleased to sell back to the management company for a $65,000 loss. I have had little contact with NCC recently but the 2 comments below seem to be pretty accurate and it seems not much has changed since I left.
-----------------------------------------------------------
IF you want to buy -
info on the 57 units still available from the developer, but remember they are very overpriced and well used - buy from an actual owner
NCC By-Laws, 37 pages
http://alturl.com/8r69f
NCC Declaration of Condominium, 185 pages
http://alturl.com/nhk2f
Nautilus Cove Contact Information
Who Contact info
Emergency 911
Management (850) 441-8187
nautiluscovepcb@gmail.com
Non-Emergency Police (850) 233-5000
NCC President: Joe Vanderwerff, #514
NCC Vice Pres: Lisa Gagnon, #1506
SEC/Treas: Norman D. Knight (Developer, Maitland, Fla.)
----------------------------------------------------
As of Oct 30th these 9 units are on the market at NCC. The link at the bottom will take you to a realty site for additional information.
Unit / Asking Price / Owner's Name
401 $159,000 Lin
504 $135,500 Lewis
601 $145,000 Tucker
603 $145,000 Warren
609 $139,000 Gulf Blvd Partners (GBP)
706 $149,000 Hughes
1116 $131,000 G B P
1302 $149,000 G B P
1402 $149,000 G B P
---------------------
Gulf Boulevard Partners is the developer of Nautilus Cove. They got stuck with 56 units when the realty bubble burst, sold a couple and rent out those still unsold. You should buy from an actual owner rather than GBP as those units have been rented out many times whereas those being sold by individual owners have generally been better treated.
Note: Only 9 units are being lived in by actual owners. NCC is a low income rental complex although it has 'Condominium' in its title.
Units for sale are listed at:
https://www.panamacityhomesonline.com/panama-city-beach-real-estate/nautilus-cove-condo/
4/13/18
GULF BOULEVARD PARTNERS
Realizing that their inflated and unjustified prices for their 60+ unsold condos was not going to sell any of the remaining units, Gulf Blvd Partners started reducing their asking prices in late January.
The 2 listed below are a sample of what the ‘new’ prices are:
1302 Lighthouse Way Panama City Beach, FL 32407 $145,000
609 Cape Cod Dr, Panama City Beach, FL 32407 $135,000
Feb price for 1302 was $159,987
4 bed, 3 bath 1,400 sq ft
Built 2007 - On site 418days
HOA Dues: $870 quarterly
609 Cape Cod Dr.
02/16/2018 Price Changed $135,000
01/26/2018 Listed $149,987
As I say repeatedly on this site: These ‘developer’ units are hard used as rentals, they remain overpriced when compared to individually owned units and potential buyers should NOT buy from the developer when similar units can be had directly from owners.
https://www.panamacityhomesonline.com/panama-city-beach-real-estate/nautilus-cove-condo/
https://homesforsale.century21.com/property/1302-LIGHTHOUSE-RD-PANAMA-CITY-BEACH-FL-32407/87665593/detail
MISC INFO FYI:
A bulk sale of developer units took place Feb 2, 2018 where 6, 3 bedroom 2 bath, units in 3 buildings were told to Dawn M Peck and Donald K Rozhon.
The total price for the 6 units was $780,000 or $130,000 per unit.
Those units sold are:
214, 611, 614, 1002, 1006, 1008.
===================================================
Monday, March 19, 2018
Every now and then I 'google' the place to see if there is anything of note going on. This time around I see that NCC has put up an internet site. Long needed but they should to do a better job of it.
Communication with owners and even renters was always a problem (in that there wasn't any) and at last there is 'some' but it lacks details of what is going on.
Condo Assn meetings are for OWNERS, unfortunately hardly any ever showed up even at the Annual General Meetings, today I checked Bay County records (http://baypa.net) which show that owner occupancy is about 5.3%* and even getting that 5% to walk across the courtyard to attend was a problem.
The 'Meeting' notes give almost no information, you might wonder why they bother doing them.
NCC is really a downmarket rental property today, original owners have mostly sold out and moved on, those who remain have turned their units into rentals, as noted just 9 of 168 units are owner occupied.
Here is just a bit of recent info FYI. You can go to their site and take a better look for information. Go to: https://www.nautiluscovecoa.com/
* List of the 9 units that have 'Homestead Exemptions' as of 3/19/18
514 1401
613 1607
616 1604
801 714
806
Also I noted that 15 units (9%) are owned and rented out by Asians (mostly Chinese).
-------------------------------------------------------------
10/19/17
If you read the blog you will know that I left years ago and was very pleased to sell back to the management company for a $65,000 loss. I have had little contact with NCC recently but the 2 comments below seem to be pretty accurate and it seems not much has changed since I left.
-----------------------------------------------------------
IF you want to buy -
info on the 57 units still available from the developer, but remember they are very overpriced and well used - buy from an actual owner
NCC By-Laws, 37 pages
http://alturl.com/8r69f
NCC Declaration of Condominium, 185 pages
http://alturl.com/nhk2f
Nautilus Cove Contact Information
Who Contact info
Emergency 911
Management (850) 441-8187
nautiluscovepcb@gmail.com
Non-Emergency Police (850) 233-5000
NCC President: Joe Vanderwerff, #514
NCC Vice Pres: Lisa Gagnon, #1506
SEC/Treas: Norman D. Knight (Developer, Maitland, Fla.)
----------------------------------------------------
