Thursday, November 24, 2011

More construction on PCB Pky/Back Beach Rd.

Back Beach Road is getting some new construction. West of NCC by a mile is the new 156,000 Super Wal-Mart which is just across Powell Adams Road and within a stones throw of the Target store in Pier Park. This new Wally World will open in the Spring of 2013.

A mile East of NCC a new Whataburger is being put up in front of the Lowe's Home Improvement (at Alf Coleman Rd), also coming to that strip mall is a new Hardees and across the street a new oil change place.  Immediately east of the year old Publix (which is next to the Lowes) the Breakfast Point Medical Center with doctor’s offices is currently under construction.

Wednesday, November 23, 2011

Everything you might want to know about Nautilus Cove Condo can be found at the below sites.  There are 10 other blogs which may be of interest,  8 have information regarding the complex, 2 are provided FYI:

185 photos of Nautilus Cove

Nautilus Cove Owners List

Proposed new Management Company (Continental Mgmt)

Proposed changes to NCC Rules and Regulations  

Our former utility billing firm American Utility Mgmt  

A long running problem with individual grills at NCC

A bit of NCC history, our very own 'Meth Lab'  

Bid-A-Wee, the HOA across the street

Medical Tourism, a trip to India

A 3 year suit against NCC BOD cost Owners $11,000

Wednesday, November 16, 2011

Delinquency and Owners Lists

NCC July 2011 Delinquency List

Delinquency List Historically:

  11/16/11 - $121,044  2nd Highest
  09/22/11 - $118,345
  08/15/11 - $127,656  Highest Delinquency
  07/08/11 - $106,220
  05/06/11 - $112,033
  03/01/11 - $118,867
  12/03/10 - $112,415
  08/12/10 - $101,594
  05/19/10 - $ 84,581
  04/23/10 - $ 85,428
  01/21/10 - $ 86,298
  12/28/09 - $ 95,753
  09/28/09 - $ 82,501
  04/25/09 - $ 35,920
  08/28/08 - $ 18,440
   Updated Owners List Now Available:  
A current copy of the NCC Owners List is available on a seperate blog site FYI.  It runs 2 1/2 pages and takes up to much room to post on this site. 

If you are interested in contacting the Owners you might find the list useful, however, keep in mind that those delinquent in payments to the Association can not run or vote in our elections.  Click on this link to see/print the list:

Where do our Owners live?

   FL - PC/PCB 61,
   FL - Other 13,
   GA - 9
   TN - 6
   AL - 4
   2 each from:
   LA, NB, OH and
   1 each from:
   CA, NV, MS, VA, AZ, WI, MI KY

Note: total does not add up to 112 as 5 are deducted for units belonging to Banks or Mortgage companies.

Saturday, November 12, 2011

Strategic Default is always an option:

There have been several mentions on this blog site about 'Strategic Defaults'.  I see that there is now a web site which has information on the subject: If this option is under consideration you might take a look at their site but of course they are selling a service and you might just cut out the middleman and find a local attorney who handles property issues.

"A Strategic Default is when a borrower decides to stop paying a mortgage even though they may still be able to afford the payment. When the value of a property has fallen far below the mortgage debt and recovery of the equity lost is expected to take years, a borrower may elect to default. . ."

It makes no sense to me that Owners who have paid list price for something that is now worth about half that amount would remain in the property. It will be many years before your condo is worth what you paid for it initially and in those years you will be stuck with quarterly condo fees, your mortgage, insurance and taxes

Even renting out your condo will probably not provide enough income to cover the above costs. I am sure that the only happy owners here are those who took advantage of the very low prices on those foreclosed units. We have had 27 foreclosures filed so far with 8-9 units now with new Owners and the rest still winding their way through the estimated 2 year process. 

Some new buyers are simply using the condos for rental income (ie:  investments), this will work for them due to the very low prices they have paid to obtain the units.  They are of course in competition with the developers 56 units which tend to rent first due to the low prices Concord is asking for them.  

If you would like to see what rentals are going for here, go to  and under the 'apartments/housing' section enter 'Nautilus Cove' in the search bar and the last 45 days worth of advertisements for condo rentals here will be displayed (19 listings as of today).  You will see Owners prices vs. Concord/Developer prices.

Also see these sites which are The Consumerist and CBS TV Sacramento:  and

Prior Posts on this blog are: "Is a "Strategic default" in your Future?" of 4/24/11 and "More on Strategic Defaults" from 5/8/11.

Friday, November 11, 2011

2 Free Internet Sites for Bay County News

I thought I would pass this along FYI.  You can read both the Daily Bay News and the Bay County People online for free at: and

They have a lot of interesting info and even Owners looking in from out of area might find it worth looking at to find out what is going on in Bay County.  You can also submit articles for their consideration.  Two years ago I had one of mine run in the paper edition of the County Press and met the owners/publishers.  Take a look and sign up for a free subscription.
Click on for larger image

Saturday, November 5, 2011

Updated Version now available:

On 6/21/11, Gov. Scott signed into law House Bill 1195, which amends various provisions of the state laws relating to condominiums and homeowners' associations. These changes cover issues, including official records; board requirements and meetings; collection of rent by an association and suspension of use rights.
Free Condo Info Available   Request a CD -  The Condominium Educational and Reference Materials" (rev 10/2011), contains these 35 condo revisions.  To get a free copy use this click on link to email your request:  It may take 4 to 6 weeks to arrive.
Here is the DBPR site for information on various condo matters and to obtain other documents put out by the State:
Here is an example of one change:

Tuesday, November 1, 2011

NCC BOD files 2nd foreclosure action against an Owner

For the 2nd time our Board of Directors has initiated a foreclosure against an owner. This time it is against Rodney Smith of unit #306, previously NCC has filed against Karen McRitchie Case 11001134CA.

In my opinion the NCC BOD should NOT be taking hositle actions against Owners in initiating foreclosures which will drag on for years and run up expenses we do not need to incur.  We already have liens against delinquent Owners, some have 2 liens against their units and we do not need to take such hositle actions against Owners. 

Smith has an existing lien for $3,6677.94 filed 12/20/10.  We will eventually get our liens paid when the banks/mortgage companies file for their foreclosures, clear title can NOT pass until our own liens are paid off. 

Let those holding the mortgages do the heavy listing, we do not need to get involved other than filing liens on the delinquent condos.  This is a poorly thought out course of action and should STOP.

Recent decisions have been The BOD are continuing to make unfortunate decisions.    Here are 3 examples:
1)  Voting 3-0 to give Concord Management a 3 year sweetheart deal to act as our management company,
2)  Voting 3-0 to give away valuable clubhouse office space to the Developer to use pretty much forever,
3)  Starting the Association on the path of foreclosing on delinquent Owners

The first two items are unfortunately already done, the 3rd is underway with 2 foreclosures already filed and I have written both on the this blog and copied to all 3 BOD members that these actions are NOT in the best interests of the condo and should immediately cease and no more foreclosure actions should be filed.  Try 'googling' the problem and you will come up with advice such as this:

HOA foreclosures climbing as associations seek 'revenge' on delinquents

May 11, 2011
By Kimberly Miller, The Palm Beach Post

Fed up with late dues and mounting maintenance bills, some homeowner associations are motivated by spite, over sound business sense, to foreclose on delinquent owners.

Property managers and condo board advisers say taking title to a property for a few thousand dollars in unpaid association fees in a "vengeance foreclosure" isn't always the best answer.

The association board also gives up its ability to put liens on the property when it takes title to it and must pay legal fees.

For example, if an association forecloses on a property with $5,000 in late payments, then pays $2,000 in legal costs and $1,500 in fees accrued during the months it takes to foreclose, it gives up a lien that would otherwise total $8,500.

Juan Parra, president of the CitySide homeowners association in West Palm Beach, said when he took the position, the board was paying $18,000 a month in legal fees and had lawyers advising it to foreclose.

"I immediately stopped that," said Parra."
Full article at:
Here are an additional 21 recent foreclosure filings:
(a few of these units have been resold (*) and belong to other Owners, another 3-4 will probably be in foreclosure by years end)

10/01/11 UNIT 306 Rodney Smith  (by Assn.)
07/18/11 UNIT 513 Karen McRitchie  (by Assn.)
07/15/11 UNIT 615 Peachy Gaytin
05/18/11 UNIT 206 Jennifer Jones
12/21/10 UNIT 601 Alamdar Karami
08/20/10 UNIT 607 Denis Varela
07/16/10 UNIT 905 Matthew Hooke
05/24/10 UNIT 106 Jay Davis
02/12/10 UNIT 205 Michael Reed
01/29/10 UNIT 610 David Ellingson
01/05/10 UNIT 213 Brian Clark
12/22/09 UNIT 705 Juan Reyes
10/27/09 UNIT 307 Jeremiah Cahours
10/09/09 UNIT 210 Dan Smith*
09/29/09 UNIT 402 John Crider
09/16/09 UNIT 702 Norman Ussery
09/03/09 UNIT 201 Joseph Kennedy*
09/03/09 UNIT 102 Kyle McKendree*
02/16/09 UNIT 401 John Thomas  (filing dismissed by Judge)
10/22/08 UNIT 305 Patricia Kristoff*
06/20/08 UNIT 506 Fred Grass