Monday, July 10, 2017

All developer units are available, now and then some from individual owners come up.

Sometimes I check in to see what Pelican Real Estate is offering from among the units still owned by the developer.  It doesn't change.  Here is what they offer on their site:

33 4/3 units at $159,987
11 3/2 units at $149,987
13 2/2 units at $139,987
------------
Total available from developer:  57

These prices have held steady for many years and of course they are overpriced and do not sell.

If you are looking at any realty site and pull up units available at Nautilus Cove you can immediately tell a developer unit as they all end with the number 987 in the price listing.

As mentioned below (several times!) you want to AVOID these units as they are all hard used as low income rentals.  If you find one of the individually owned units the price will be a lot lower, the units better cared for with fewer renters having used them and occupancy should be pretty close to immediate.

Those 57 units advertised by the developer are almost all occupied and any sale would require getting the current renter out.

Be careful in buying at NCC.  I had a condo there for about 5 years and I am very pleased to be GONE from there even though I lost $65,000 in selling (#708) back to the developer.

Sunday, April 23, 2017

So is this Blog 'OPEN' or is it 'CLOSED'?
Well, it is pretty much closed but I do now and then add bits and pieces to it.
This blog goes back to 2007 when I purchased here, but I sold my condo in January 2013 and of course my interest level has dropped considerably.
Still there is quite a lot of information here that is of value to Owners, Renters or those considering a purchase, so the blog will remain so all can access the info, it just won't be added to very often.
Bill Harris
3 Samples of Developer adverts and 2 of individual units for sale:


1302 Lighthouse Way Panama City Beach, FL 32407


1 of 18

$159,987
Subdivision: Nautilus Cove Condo
BEDS
4
BATHS
3
SQ.FT.
1,400
BUILT
2007
ON SITE
62Days
MLS
655509
Nautilus Cove is a gated condominium community in the heart of beautiful Panama City Beach. This 4 bedroom 3 full bath unit comes standard with granite countertops, upgraded light wood cabinets and...


214 Cape Cod Dr Panama City Beach, FL 32407


1 of 16

$149,987
Subdivision: Nautilus Cove Condo
BEDS
3
BATHS
2
SQ.FT.
1,225
BUILT
2006
ON SITE
62Days
MLS
655508
Nautilus Cove is a gated condominium community in the heart of beautiful Panama City Beach. This 3 bedroom unit comes standard with granite countertops, upgraded light wood cabinets and stainless...


1116 Lighthouse Way Panama City Beach, FL 32407


1 of 15

$139,987
Subdivision: Nautilus Cove Condo
BEDS
2
BATHS
2
SQ.FT.
965
BUILT
2007
ON SITE
62Days
MLS
655506
Nautilus Cove is a gated condominium community in the heart of beautiful Panama City Beach. This 2 bedroom unit comes standard with granite countertops, upgraded light wood cabinets and stainless...



1115 Lighthouse Rd Panama City Beach, FL 32413


1 of 35

$135,800  $800 )
Subdivision: Nautilus Cove Condo
BEDS
2
BATHS
2
SQ.FT.
965
BUILT
2007
ON SITE
106Days
MLS
653938
Stylishly decorated and Meticulously maintained, this 2 bedroom 2 bath unit in the gated community of Nautilus Cove is being sold fully furnished and ready to move in. The kitchen is well equipped...



712 Panama City Beach Parkway #712 Panama City Beach, FL 32407


1 of 41

$129,000
Subdivision: Nautilus Cove Condo
BEDS
3
BATHS
2
SQ.FT.
1,225
BUILT
2006
ON SITE
4Days
MLS
657724
Nautilus Cove is a beautifully maintained condominium community located in the heart of Panama City Beach. This lushly landscaped community offers your own private oasis with a resort style pool,...




601 Cape Cod Dr Panama City Beach, FL 32407


1 of 8

$118,000
Subdivision: Nautilus Cove Condo
BEDS
3
BATHS
2
SQ.FT.
1,195
BUILT
2006
ON SITE
4Days
MLS
657723
This 3BR/2BA has never been a rental unit so is in fantastic condition. Offered furnished, this cute, ground-floor condo is ready to enjoy right away. Nautilus Cove is gated with an amazing community...

For Your Information:  


You can see current and past Owners List's, Delinquency List's and old condo newsletters at:  http://nccownerslist.blogspot.com/ and you can click on this direct link to see the meeting minutes for the last 6 years:   http://tinyurl.com/66zdaor, for 185 NCC photos see: http://nautiluscondo.blogspot.com/ 

also look at:

Declaration of Condo:  http://nautiluscovedeclarationofcondo.blogspot.com/
By-Laws of NCC - http://tinyurl.com/37vbqkz
NCC Articles of Incorporation - http://tinyurl.com/34wp8pj
Rules and Regulations - http://tinyurl.com/39lbjwl
New 10/4/10 Condo Management Agreement - http://tinyurl.com/39sy3cy 

Old Condominium Management Agreement - http://tinyurl.com/3x8963n
Budgets of 2012, 2012 Balance Sheet of 10/2010 -  http://tinyurl.com/2d4oh4j 

6 NCC Newsletters:  http://nautiluscondosrules.blogspot.com/2011/09/blog-post.html
-------------------------
FYI:  SOME SALES AT NCC:

Not much going on at Nautilus Cove, but on 3/28/16 Unit #201 sold for $100,000.

Going from Joshua Slaughter to Zong Jie Lin.

Long time owners might recall that #201 was originally owned by Joseph Kennedy who bought it 11/10/06 for $159,900. 

There have been 13 NCC sales over the past several years of distressed and foreclosed units to Chinese investors:

#104 Wang, Hauizhou 12/30/13
#105 Pamuk, Ahmet 3/21/14
#201 Lin, Zong Jie 3/28/16
#209 Wang, Hauizhou 10/.16/13
#307 Huang, Feng 5/25/12
#401 Lin, Bin 6/17/15
#403 Zheng, Hong Xiao 9/30/15
#610 Chan, Yukhing ETAL 8/11/15
#701 Yuan, Yubing 5/12/15
#702 Wang, Huaizhou 11/18/13
#716 Wang, Huaizhou 6/16/14
1602 Zeng, Youkai 4/4/14
1608 Yu, Hong Fang 7/30/15