New Marriott Grand Residence at Bay Point, Panama City, FL

[camachinist Super Moderator Find all posts View Profile Close camachinist]

http://www.marriottgrandresidences.com/index.asp

Now accepting your Marriott interval as down payment towards purchase of a GR interval.

The line starts behind me

Pat

[Nadonahoe Senior Member Find all posts View Profile Close Nadonahoe]

Pat, As soon as I win the lottery, I'll camp out behind you in line.... I guess if I have to ask 'how much?' then I probably wouldn't be able to afford it. The plans do look lovely, but no quick beach access.... Noelle

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

Isn't this a place where they have had major hurricanes? I wonder how much the insurance is there if you can get it?

[camachinist Super Moderator Find all posts View Profile Close camachinist]

Well, Lake Tahoe fractionals are 13 weeks and London are 1/12 shares, so you do the math IIRC, back when prices were actually being talked about (a couple years ago), the 47 Park Street fractionals were around 250K pounds.

Interestingly, and new to me, is a similar residence to be constructed in Colorado....

https://www.grandresidenceclub.com/e...ne/default.jsp

Upon further research, it appears this one has been talked about for over a year now...

Pat

[camachinist Super Moderator Find all posts View Profile Close camachinist]

Isn't this a place where they have had major hurricanes? I wonder how much the insurance is there if you can get it?

Marriott already has a timeshare property in the Panama City area...

http://marriott.com/property/propertypage/PFNLE

I imagine they have hurricane insurance like Newport Coast has earthquake insurance

Pat

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

I was VERY surprised when I received this info in the mail......as this is probably the least popular of the FL Marriotts....maybe they decided to go this route when they couldn't sell the 'regular TS' units they built......

[camachinist Super Moderator Find all posts View Profile Close camachinist]

And, considering the prices are in the "500's to 800's", I would presume these are whole ownership condos, yes?

Pat

[Steve Senior Member Find all posts View Profile Close Steve]

These are whole ownership villas. And yes, they are being built on land that was originally set aside for expansion of Marriott's Legends Edge. Timeshare sales have not been brisk at this location...but the underlying real estate has risen dramatically in value. So Marriott decided to use the land for whole ownership condos instead of more slow-selling timeshares.

Steve

[taffy19 Gold Contributor Find all posts View Profile Close taffy19]

A little late in the real estate boom cycle, I believe. I heard that Florida real estate values have gone down already. Calfiornia will be next most likely but no sign of it yet in Hawaii. I wonder what this will do to the timeshare sales by the developers? All of them cannot build fast enough so the little guy can deal with the deflation later because they are out and made the money building the resorts. There have always been cycles.

Did anyone read RonaldCol's posts in the "Ask RCI" thread over yonder? There is a lot of dissatisfaction right now because Corporations are getting too greedy and are really taking advantage of the little guy. Just read all the posts about Cendant, RCI and lately also about the Marriott.

[nashs Junior Member Find all posts View Profile Close nashs]

Hey Pat,

It is a good reference, I just checked them

I have read in a magazine that, nowadays most of the real estate investors are moving towards Panama real estate industry & the hotel/villas rental charges are moving higher compare to other places, It is good news for investors

I have planned to buy something from your reference, Thanks for that reference buddy,

Cheers,
Nash,