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7903 N Lagoon Drive
Panama City Beach, FL 32408
$2,298,000
Conventional
Property
Bedroom
4
Bathroom
4
Property Type
Conventional
Square ft
3636
Property Description
WATERFRONT ESTATE w/GULF ACCESS, DOCK & BOATHOUSE on .83 acres. This gorgeous property is the epitome of coastal living! Designed with an open layout, the home consists of 3636sf, 4 beds/3.5 baths, 3 car garage, w/formal & informal living spaces. You will find a new tile roof, new storm windows & doors, renovated baths, tankless water heater, new stainless appliances, including a double oven & wine refrigerator. The interior boasts 10ft & 12ft ceilings, an enormous master suite, 2 fireplaces, chef's kitchen, and so much more! Outdoor living areas include a summer kitchen, refinished heated pool & spa, 500' circle drive, boat dock, 12'x24' boat house, RV hook-ups & custom shed. Located along the deep waters of beautiful Grand Lagoon, 5 minutes from the Gulf & 25 minutes to the 30A corridor.The interior of the home showcases formal & informal living and dining areas, all in keeping with an open space concept. It is the perfect layout with two full bedrooms and bathrooms located on one side of the house, and the master suite and 4th bedroom/office on the the opposite side of the home. Rinnai tankless water heater, along with extras like high ceilings, plantation shutters, lots of windows, a breakfast nook with bay window. No HOA means you have options you won't find in restricted subdivisions, like chickens for fresh eggs, boat parking, RV parking, adding an additional structure, or whatever you would like to do to make this property your perfect paradise.The massive master suite has 2 seating areas, a gas fireplace, dual walk-in closets, master bath w/separate whirlpool tub & walk in shower, and French doors to the pool. The informal living area also has a gas fireplace and a cozy reading nook w/window seat overlooking the pool area. The formal area includes an inviting foyer that is open to the formal living & dining spaces. The dining area invites even the largest of dining sets, as well as a formal seating area with large double doors in the living room, great room, and master that open up to the covered patio and pool area. The spacious kitchen has a considerable amount of cabinet space, an island with a second kitchen sink, a breakfast bar to seat 4-5, and a darling breakfast nook tucked inside a bay window that also overlooks the pool area. The oversized garage has room for 3 cars +, with a built in Tesla charger, and one other charger for an additional electric vehicle. The majestic 500 foot circle drive begins with double columns on both the entrance and exit, and is lined with tropical landscaping and lots of lush palm trees! Aside from an abundance of parking space, there are hookups ready for an RV, and a well for the irrigation system. The expansive outdoor living spaces in the back of property include a fully equipped summer kitchen with a refrigerator, sink, gas stovetop, and full bar to the outside. The kitchen can be enclosed with the automated roll down shutter when it is not in use, or for inclement weather. The newly refinished heated pool and hot tub have custom lighting and settings that can be controlled remotely. Surrounding the pool are extended deck and patio areas offering generous amounts of covered and uncovered spaces for grilling, sunbathing, and entertaining. This property is designed to accommodate everything from entertaining a large number of people, to making memories with family in your backyard oasis. Beyond the pool & patios is the ideal amount of green space, all sitting on almost an acre of land, a large custom shed/workshop and 90' of waterfront along a 1000' wide, beautiful stretch of Grand Lagoon. You will find a boat dock, boat house, and step down for jet skis, kayaks, and paddle boards. Park your boat right in your own back yard, and get ready to enjoy fishing, boating, and all your favorite water activities like never before! This is truly a must see, one of a kind property! All information is approximate and should be verified by
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1998
MLS Number
749439
Location
Address
7903 N Lagoon Drive
City
Panama City Beach
State
FL
Zip Code
32408
County
BAY (WEST)
Listing
Provider
World Impact Real Estate, original listing
Name
World Impact Real Estate
Phone
(850) 225-7000
Office Name
World Impact Real Estate
Office Phone
(850) 225-7000
Agent Name
Alyssa Hakenewert

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.