Update on "The Gates of Bid-A-Wee"

Just across the street from NCC is a housing development which is in the news from time to time.  

This time the Martin v. City of PCB suit has been moved from Bay County Court to Federal District Court.

You might remember that in 2011 Bid-A-Wee restricted access via their 6 walkways to the public beach. This access is covered by a long standing Public Easement. 

BAW resident Randy Martin opposed the closing and BAW President Smith alleged an incident took place where Smith was injured and Martin arrested. Martin was aquitted in 20 minutes of deliberation and now sues the City of PCB and a former PDBPD officer who lied about the arrest.  

The long running saga is available at:  http://bidaweeeasement.blogspot.com 
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Auction Held for Condo #105 - #1602 Listed for sale

Case Number: 13000199CA Case ID: 2590517  Date: 11/12/2013 - Auction

Opening Bid $0.00 11/12/2013 01:07:01 PM
Plaintiff winning bid $100.00
Auction Closed 11/12/2013 01:09:00:00 PM

The final bid was made by Plaintiff : BANK OF AMERICA N A,
In the total amount of: $100.00

Unit #105, formerly owned by David and Amy Turner, was auctioned off to the highest bidder on Nov 12th at 11 a.m.  The 'Final Judgement for Foreclosure' on issued on 9/23/13, was for $178,561.21.  The mortgage holder simply bid the usual $100 with no competing bids and the unit went back to the mortgage holder and in a few months it will be back on the market 'as is' and should sell for about half the original sale price.  

It is seldom worth the effort to bid on this type of sale as the mortgage holder just bids $100 more than any competing bid and will bid right up to the total amount of the mortgage.


Auction Starts 11/12/2013 11:00 AM CT
Auction Type: FORECLOSURE
Case #: 13000199CA
Final Judgment Amount: $178,561.21
Parcel ID: 40000-100-005
Property Address: 105 CAPE COD DR 105
PANAMA CITY BEACH, 32413
Assessed Value: $74,035.00
Legal Description: NAUTILUS COVE CONDO PHASE 1 UNIT 105ORB 2842 P 243 2ND FLOOR 4BR/3BA . 1430 SQ.FT.



On the Market now:

#1602, a 3/2 ground floor, 1195 sq ft, is listed as of 11/12/13 for sale "As Is, Short Sale" at $94,000, with MLS #614614.  It was originally purchased 2/15/07 by Steve and Carrie Weeks for $164,900.

#1001 listed for sale and #206 (J. Jones) sold for $42,600

Another 'original owner' at NCC now has listed her unit for sale.  Ann G. Henry is asking $104,900 for her ground floor 3/2, unit #1001 with MLS #614350.  

The unit was originally purchased 6/22/07 for $164,900.  If sold it will probably go in the $80,000-86,000 range.

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Unit #206 Jennifer Jones (a 3/2 ground floor courtyard side unit) has had a 'Final Judgment' entered for Ocwen Loan Servicing LLC, for $199,474.48 and the unit was then sold at auction Oct 31st at 11 a.m.


Before owners panic thinking that all 3/2's are now only worth 42K you need to keep in mind that for reasons best known to holders of mortgages that they will bid up by the usual $100 on their foreclosed units. 

So don't bother bidding against holders of mortgages, you won't win.  In a few months this unit will be back on the market asking price probably $87,000.  (a better location than #1001)

Here is the history of the bidding for #206.

Case Number: 11000747CA     Case ID: 2480607     End Date: 10/31/2013 12:10:00 PM
Proxy
  Bidder ID Bidder Name Bid Info Bid Date/Time
  9614 Hiram Collazo Not Enough Deposit $8,700.00 10/17/2013 09:53:48 PM
  6245 Idania Carpio $7,700.00 10/21/2013 11:02:39 PM

 Auction
  Bidder ID Bidder Name Bid Info Bid Date/Time
  Opening Bid $0.00 10/31/2013 12:06:02 PM
  Plaintiff Auto Bid $7,800.00
  5957 Boldbaatar Dorj $25,000.00 10/31/2013 12:06:44 PM
  Plaintiff Auto Bid $25,100.00
  5957 Boldbaatar Dorj $40,000.00 10/31/2013 12:06:59 PM
  Plaintiff Auto Bid $40,100.00
  7854 Myra Floyd $40,200.00 10/31/2013 12:07:18 PM
  Plaintiff Auto Bid $40,300.00
  7854 Myra Floyd $40,400.00 10/31/2013 12:07:31 PM
  Plaintiff Auto Bid $40,500.00
  6245 Idania Carpio $41,700.00 10/31/2013 12:07:45 PM
  Plaintiff Auto Bid $41,800.00
  7854 Myra Floyd $41,900.00 10/31/2013 12:08:26 PM
  Plaintiff Auto Bid $42,000.00
  7854 Myra Floyd $42,100.00 10/31/2013 12:08:48 PM
  Plaintiff Auto Bid $42,200.00
  7854 Myra Floyd $42,500.00 10/31/2013 12:09:08 PM
  Plaintiff winning bid $42,600.00
  Auction Closed 10/31/2013 12:10:00:00 PM

The final bid was made by Plaintiff :   OCWEN LOAN SERVICING LLC,
In the total amount of:   $42,600.00

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