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  1. L

    NY Farmhouse

    Babybridges: If the US enters a period of hyperinflation, you would be best served holding onto this farm... Little Fish
  2. L

    HOA bans smoking on condo balconies

    I've had an opportunity to speak to an attorney regarding this issue and will update all when the issue is resolved. Stay tuned. Little Fish
  3. L

    Rental Companies Specializing in Watersound

    Geksaa: Kurt provided a good recommendation. I've stayed at Ross' WS condo at the Crossings a couple of times and enjoyed his unit. He also has access to the WS beach club which adds value in my opinion. Little Fish
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    HOA bans smoking on condo balconies

    Koa: Persnally, when I have a smoke it is always outside as I, like you, want to avoid the odor that clings to furniture etc. I rent my unit and my contract states that the rental is a non-smoking unit although I allow smoking on the balcony. Invariably, should the Association decide to...
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    HOA bans smoking on condo balconies

    Mango: Thanks for your post. Although the maintenance of unit balconies are the sole obligation of the individual owner, balconies are considered limited common areas in our building. The Board's attorney has "suggested" the Association has the right to set policies for limited common areas...
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    HOA bans smoking on condo balconies

    DuneAHH: If memory serves, the original condo docs required a vote of 66% by the owners in order to change the rules. I don't know if it was ever put to a full vote as I didn't have any advance warning of an upcoming change, or discussion. I told one of the BOD members I believed the new...
  7. L

    HOA bans smoking on condo balconies

    Oh... please let it be the paddle. :D
  8. L

    HOA bans smoking on condo balconies

    Kurt: There is no stated penalty. The HOA has the right to impose fines and has a proceedure in place should fines be levied, but there is no system in place that spells out what the fines might be. Scooter: The HOA did not establish any approved smoking areas. This is now a smoke free...
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    HOA bans smoking on condo balconies

    Our condominium HOA passed a new regulation that prohibits smoking in all common and limited common areas. The rule specifically prohibits smoking on unit balconies. I don't have a problem with the HOA making the building a smoke-free environment, but I do take issue with the HOA telling me...
  10. L

    Changes to the Florida Condominium Act

    Murray: Interesting points... The law specifically prohibits the association from suspending the rights of an owner to receive utilities being provided to the unit as well as common elements necessary to access the unit, such as parking spaces, or elevators. Doesn't mention sidewalks or...
  11. L

    Changes to the Florida Condominium Act

    All: Just received an update on changes to the Florida Condominium Act that includes some new language that affects owners who become delinquent in monies due the HOA. Thought all might find this interesting: Suspension of Use Rights and Fines: If a unit owner is more than 90 days...
  12. L

    Any reviews of Restaurant Caliza?

    I've been there a couple of times for dinner in the past couple of months and enjoyed both experiences. The waiter from Turkey named Turik (spelling?) is one of the best waiters I've ever experienced. Very laid back and comfortable personality with an eye to customer service. The menu could...
  13. L

    Radar detectors

    Beachrunner: I have the K40 radar detection/laser diffusion system installed in my Range Rover. The system is the best on the market and is built into the front and rear bumpers as well as the front grill. There is no dash mounted detector to attract thieves and no hastle whatsoever. No one...
  14. L

    Black flies, helllp!

    A wetsuit.
  15. L

    Ocean Reef Absolute Auction Results

    YoungFT: "In Little Fish's math you added the entire amount of Year 1 depreciation back to After-tax earnings to get Cash Flow. The only cash flow benefit that depreciation offers is the tax benefit, or the tax savings of 30% of depreciation." Sorry, but this is an incorrect statement...
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    Ocean Reef Absolute Auction Results

    Shelly: Ok, I'll take a stab at it. Question: Is it possible to cash flow at recent auction prices? Assumptions: Purchase Price $359,500 (for 4BR as stated earlier in the thread) 20% down with a 30 YR FXD at 6.5% Annual Mortgage Payment = $21,828 ($18,600 Int. + $3,228 Prin.) Annual...
  17. L

    Build-out extensions

    AAbsolute: Very interesting thoughts. Thanks for posting. Question: Even if Joe found a buyer to purchase in bulk, how would that affect the new lot owner who purchased below the original release price? Little Fish
  18. L

    Ocean Reef Absolute Auction Results

    Michael C: Not sure where you got your information, but 35 units sold for a total of $8.84MM. The four bedroom units sold between $209.69 and $233.75/sq. ft. after including the 10% buyer premium. The two bedroom units sold at $196.77/ sq. ft. after adding the buyer premium. IMO, these...
  19. L

    Who Killed the Economy?

    Not sure who killed the economy, but I will say that a new President who believes in big government and redistribution of wealth can't help matters. Little Fish
  20. L

    Georges at alys beach

    Sorry guys... I ate at George's last week for the first time. The outdoor deck is nice, the wait staff is pleasant, the story behind the frog emblem is cute... however, the fish tacos are bland and the grouper sandwich tastes like Mrs. Paul's... Review Lady: If you want a great fish...
  21. L

    No offshore drilling

    If we don't drill in Florida, where do you suggest we get our oil? Little Fish
  22. L

    Nationally, nearly half of 2006 buyers are upside down

    Hillsatthebeach: Thanks for your comment. If Joe is including 2 years dues and beach club memberships along with the new build-outs, I can see why it may be difficult for existing owners to sell. That said, don't the current lot owners have the ability to purchase beach club memberships? If...
  23. L

    Nationally, nearly half of 2006 buyers are upside down

    MissCritter: Yes, I am also of the opinion that it would be difficult to enforce the build-outs; however, it's still a risk and Joe probably knows they can charge extra for that risk. I wouldn't pay the premium, but I guess others have. Little Fish
  24. L

    Nationally, nearly half of 2006 buyers are upside down

    Fisher: I've noted the same regarding Joe lots selling at prices higher than close comparables. One reason why some buyers might pay higher prices could have everything to do with longer build-out dates relative to current listings. Little Fish
  25. L

    Nationally, nearly half of 2006 buyers are upside down

    AAbsolute: Thanks for the info. Looks to me like these two lots were owned by St. Joe. Do you know if these were inventory lots that were finally released? Also, I agree with your comment regarding lot loan renewals. I suspect some lot owners will run into difficulties with comps when it...
  26. L

    How banks handle REO's

    Not sure how Banks handle REO's, but I read an interesting article regarding Wachovia's selling bad land loans to investors. I assume once the investor purchases the land loans, they have the right to take back the underlying properties. I've posted the link below...
  27. L

    Nationally, nearly half of 2006 buyers are upside down

    AAbsolute: Could you provide the address on these two lots? Were they on Salt Box Lane near the entrance of WS, or nearer the beach? Thanks Little Fish
  28. L

    Double Red Flag Violators

    Ticketing folks for ignoring double red flags is not the answer. Charging folks for being pulled from the water and receiving life saving services sounds more reasonable to me. Little Fish
  29. L

    What's the quickest way to Atlanta?

    AAbsolute takes the same road I do. It's 316 miles door to door from East Cobb to our condo on the west end of PCB. At night the trip can be made in 4:45 with an average speed of roughly 80. Of course, if you're busted that will add another 30 minutes to the trip... Little Fish
  30. L

    Driver Pulls Gun on Cyclists This Morning

    Just caught up with the thread... unbelieveable. Whenever I am in town, I ride my road bike along 30A. Nothing like cruising past the dune lakes. Absolutely refreshing. Given the non-existent shoulders, I've often wondered what it would take to encourage the local/state government to install...
  31. L

    Correction: Panhandle real estate sell off just starting

    Anyone know what risk owners face if they purchase a WS homesite below the original sale price and do not build on time? Little Fish
  32. L

    Palazzo Auction today

    Nathan: Do appraisers consider auction sales as comps for folks looking to purchase units at prices higher than the auction pricing? Thanks Little Fish
  33. L

    Palazzo Auction today

    Jason from the PCBDaily site was in attendance and posted the results on the following link: http://pcbdaily.com/?p=610 Looks as though folks got some good deals. Little Fish
  34. L

    Wachovia exits wholesale mortgage lending

    Ash: There is no comparison with the 30's. Regulation of banks is much stronger than the 30's. The only folks who compare today with the 30's are reporters looking for ratings. There is little reason for concern. The Fed requires banks hold cash to support unexpected behaviors, ie. runs on...
  35. L

    Build-out extensions

    Just noticed 19 Salt Box Lane (Lot 65) in WaterSound sold in April for $870,000. The original listing was for a distress sale at $1.575MM and was non-negotiable. Looks like someone was unable to complete construction and the new owner expects to spend $370,000 to complete the project. Anyone...
  36. L

    Wachovia exits wholesale mortgage lending

    The elimination of wholesale lending is a good move by Wachovia. As you may be aware, when banks lend money, they must set aside capital per regulatory requirements. As I understand, the move is intended to better allocate existing capital, which is precious in the current credit environment...
  37. L

    Not enough stop selling

    Goodwitch: My thoughts exactly. Just another example of marketing BS. Looks like at least one buyer got a deal at 32% below original list. The same auction company that handled the Marina Landing auction is scheduled to auction 28 units in the Palazzo condominium building in PCB. I am an...
  38. L

    Moving Sale - Rosemary Beach

    K2: Very sorry to hear you need to move. I've stayed in your home and had a wonderful time. Your place was well decorated and your furnishings were of good quality, making this a good opportunity for folks to purchase some nice stuff. Best of luck to you. Little Fish
  39. L

    Build-out extensions

    Full Time: Wow. It sounds as though you've been wanting to get something off your chest for some time... I doubt the WS DRB would allow any **** to be built. Also, you will see prices come "back down to earth" once some of the investor held properties are taken back by the bank. Currently...
  40. L

    Priced right REOs are moving fast

    Dominoes: I agree with your comment regarding Banks backing away from new loans in Destin and PCB. Additionally, it doesn't surprise me to see Banks bumping the rates due to risk. I closed on a condo in PCB back in February. My mortgage broker called me 3 weeks later to tell me that I had...
  41. L

    The best deal in Rosemary Beach?

    Sea Sothebys: You might want to look at 313 East Water Street. This is an upcoming foreclosure. The home is listed for $1.999MM and is located South of 30A. I've stayed in the home, which was formerly known as the "Rosemary Beach Funhouse". The house is very well done in my opinion and...
  42. L

    Top 5 Bargain Vacation Home Spots

    BB: I appreciate the extra publicity that the article brings to our area. Also, I tend to agree that a new airport should positively effect our area in many ways... housing demand should increase over time, the number of first-time visitors should increase, the number of businesses should...
  43. L

    Grouper sandwich!

    The best grouper sandwich can be found under the Brook's Bridge at the Bay Cafe in Ft. Walton Beach. Any grouper sandwich connoisseur will undoubtedly be amazed with their version. It's served blackened, on a croissant, with a champagne cream sauce... YUMMY. It's a haul to get there, but I...
  44. L

    Nice new 3br gulf front in Panama City Beach

    Kurt: Wow... you beat me to the punch! Thanks for the plug. You did a FANTASTIC job capturing the very best features of our unit and I am sure this will drive future sales. For all interested, here is some information regarding the property: The Palazzo is the newest building in PCB...
  45. L

    Zoning/Major development sign at Alys

    A few months ago in the Alys Gazette, I saw plans for the beach club on the south side of 30A. I believe that was a 4 story project. Little Fish
  46. L

    auction video clip

    SJ: Reverse auctions happen. One of my friends did this a few months ago. He approached 10 sellers and invited them to bid on his business. He placed $150K in an escrow account and told the buyers he would buy the lowest priced lot on the bidding day. He told each seller that he would be...
  47. L

    Looking for last minute rental 4/17-4/21

    Suma: You're house is stunningly beautiful! Do you mind sharing the name of your architect? Little Fish
  48. L

    Bear Stearns Fails - Bailed out by FED Reserve for 28 days

    All: I'm going to go out on a limb here and call the market bottom. The S&P500 hit the low for the year on March 10. In six months we will test the highs achieved in 2007. In my mind, the Bear Stearns implosion has signalled a bottom. Little Fish
  49. L

    Temporary Increase to Our Conventional Loan Limits

    Busta: You may be looking at the average price per home in the area. As I recall, where the average home price was above $417,000, there was an increase in the limit. Where average home prices were less than $417,000, the limit remained unchanged. Little Fish
  50. L

    Temporary Increase to Our Conventional Loan Limits

    BK: The limits did not increase for the area. I believe BankRate.com posted a chart with the revised limits and the panhandle area did not see an increase. You might want to search the site for detail. Little Fish
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