Friday, December 25, 2009

2 New Civil Suits for Waterstone Resort Realty, LLC

2 New Civil Suits for Waterstone Resort Realty, LLC

2 more to come shortly.

For 2 years this firm owned 4 condos here at NCC, they had some basic problems paying their bills, (ie: Deadbeats), and the condos were foreclosed on by Compass Bank of Birmingham. Liens were also filed by the condo assn for 9 months of unpaid quarterly dues on each condo.

Now Compass Bank has filed the first 2 of 4 civil suits attempting to recover the money Waterstone still owes after the foreclosure.

For Details See:

Thursday, November 5, 2009

Waterstone Sucks!

Got some comments or complaints about the various Waterstone LLC's? Post on the Waterstone Sucks 'Message Forum' at:

Saturday, October 3, 2009

Information you might find of interest about the various Waterstone LLC’s
Local real estate entrepreneurs Alan O’Neal, Ben Edwards, Michael ‘Chad’ Gilliland and Howard Granberry have approx 20 LLC’s and DBA’s, most having Waterstone” in their titles*.

WATERSTONE RESORT REALTY, L.L.C. has now changed its name to: NCPCB INVESTMENTS, L.L.C. Ben Edwards and Chad Gilliland had their names removed from this sinking ship, leaving only Alan O’Neal as manager of the LLC. Their 4 condos at Nautilus Cove in PCB are now foreclosed and sold. The last condo going on the ‘Courthouse steps’ on 9/28/09. They leave Nautilus Cove Condominium, 13700 Panama City Beach Pky, PCB, owing approx $8,000 in unpaid Assn. dues and 4 unpaid liens to the association. Compass Bank got stuck for approx. $660,000 in dud mortgages. Waterstone was a bad neighbor and by any name will not be missed.

WATERSTONE RESORTS, L.L.C. has finally paid off the 4 Warrants/Liens for $116,000 that were filed by the State of Florida for Waterstone’s unpaid Sales and Use taxes which were not turned over to the State.

Waterstone spends a lot of time in the Bay County Courts, a few suits for debts were settled, 3 other civil cases continue, 08-5450CA is alleging Fraud and Breach of Contract with a local firm; 08-CA-2529 is going on 16 months now for improper rental of their now foreclosed N.C.C. condos, renting them for use by a labor contractor who used them as dorms to house foreign workers employeed at the local Marriott Resort; 09-123CA where they sue a blogger for posting online about how bad they are; 5:09-cv-00277-RS-MD in Federal Court they have a Discrimination & Retaliation case courtesy of a former Senior Maintenance worker Mark Ballard, who they fired after 2 injuries at work resulted in Workman’s Compensation Claims.

* the same people involved in the various "Waterstone" companies with various combinations of names.
DBA: Waterstone Real Estate

DBA: Waterstone Real Estate



(Name changed to NCPCB INVESTMENTS, LLC)

DBA: Waterstone Resort, LLC




10) SWF Mgmt, LLC

11) Waterstone Resorts and Vacation Homes

12) Waterstone Realty, LLC
DBA: Waterstone Realty

Saturday, August 29, 2009

Harris v. Nautilus Cove & Waterstone

Next Court date is set for Oct 6th

Double click for larger image or print out:
Posted by Picasa

Wednesday, August 26, 2009

3/2 NCC Condos now available at $51,000

As you know the 4 Waterstone condos are in foreclosure, the first to be sold at the Courthouse steps is #710, and it brought only $51,000, and was sold to Compass Bank, who held the mortgage. On 4/27/07 each unit was sold to Waterstone at $164,900 with Compass Bank providing the mortgages.

This leaves a deficit of about $116,000 owed to Compass Bank, the other condos may go in the same range leaving Compass still due about $460,000 from Waterstone/NCPCB Investments. Probably Compass intends to bid on all the remaining units. Of course anyone can buy the remaing 3, if you want a bargain on them then you can go to the north steps of the Bay County Courthouse on the date specified and put in your bid. Details on the 4 NCC units can be found using the direct links below.

RE: #710
8/18/2009 PAYMENT $70.00 RECEIPT #2009044078

710 Sold 8/18/09

712 To be sold 8/31/09 11 a.m.

714 To be sold 9/10/09 11 a.m.

716 To be sold n/a

Waterstone currently owe $8,400 in unpaid quarterly assessments to the condo.

Saturday, August 15, 2009

Waterstone/NCPCB is finished at Nautilus Cove

On 8/13 the 3rd of the 4 Waterstone condos in the 7 building was foreclosed (with a summary judgment of $167,517) and will be sold at the Courthouse at 11 am on 9/10/09. The last of the 4 (#716) has a final hearing on 8/26.
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You may recall that on July 15, Compass Bank of Birmingham, Al received a 'Summary Judgment in Foreclosure' for the Waterstone condo #710 in the amount of $167,088. This unit is to be sold at Public Sale at 11 a.m. Aug 18th at the Bay County Courthouse.
On July 29th Compass Bank received another Judgement, this time for the Waterstone condo #712 for $167,517 and it will be sold at Public Sale at 11 a.m. on Aug 31st.

Waterstone currently owe $8,400 in past quarterly assessments to the condo.

Friday, July 17, 2009

Waterstone is nearly gone from Natuilus Cove

On July 15, 2009 Compass Bank of Birmingham, Alabama, received a 'Summary Judgment in Foreclosure' in the amount of $167,088. This unit is to be sold at Public Sale at 11 a.m. Aug 18th at the Bay County Courthouse.

The remaining 3 units, in the 7 building, will follow over the next sixty days. For unknown reasons Compass Bank filed on the units seperately and the proceedings are before 3 different Bay County judges, so they will come up at different dates for auction. We will be well rid of Waterstone Resort Realty (Now known as NCPCB Investments due to a name change).

For additional details see:

Wednesday, July 15, 2009

Coming in October

To stores on the Beach and via mail orders:
* T-Shirts
* Tote Bags
* Mugs
* Key Chains
* Post Cards
* Beach Towels

* Caps

Chose Between:
* "Waterstone Sucks!" &
* "I've Been Screwed by Waterstone!"

Posted by Picasa

see also:

Monday, July 6, 2009

Waterstone Court Cases in Bay County Fla

Below you can use the 'click on' link to see how the various cases are progressing through the Court system. Four cases involve civil actions and the remaining 4 are foreclosures. You can also go to: in order to pull up the initial documents in the various foreclosures.

If you want to look at the 4 civil suit filings, then you have to go to the Bay County Courthouse and use their computer terminals to view these cases. If you need copies you have to pay $1 per page. These cases can also be ordered and sent to you via fax or email attachment, again it is $1 a page.

(Issue: Renting units in violation of documents)

COMPASS BANK v. WATERSTONE (Foreclosure 716)

COMPASS BANK v. WATERSTONE (Foreclosure 714)

COMPASS BANK v. WATERSTONE (Foreclosure 712)

(Issue: Internet posting unfavorable to Waterstone)


Tuesday, June 16, 2009

More Bad News for Waterstone

The management firm at NCC has forwarded the paperwork to the association attorney to file liens on the below 8 units:

Unit - Name - Amount Owed

210 Smith, Dan $1,962
307 Cahours, Jeremiah $1,937
702 Ussery, Norman $1,962
710 Waterstone $1,400
712 Waterstone $1,400
714 Waterstone $1,400
716 Waterstone $1,400
808 Spells, Barry $1,400

(Once filed these amount increase by a $37 filing fee, $25 late fee and a $250 attorney fee)

You may recall that 6 liens* already exist for:
506 Grass, Fred $3,348
305 Kristoff, Patricia $5,443
105 Turner, David $1,398
201 Kennedy, Joseph $2,811
705 Reyes, Juan $3,192
601 Karami, Alamdar $2,737

* Note: Amounts shown reflect the amount 'owed' by the unit owner and not the amount of the lien. Ex: Grass owes $3,348 but when the lien was filed it was for $1,923 and amount owed has increased since then.

FYI: Currently other foreclosures are proceeding regarding:

716 Waterstone
714 Waterstone
712 Waterstone
710 Waterstone
401 Thomas
405 Kennedy *
201 Kennedy *
305 Kristoff
506 Grass
512 Mundt

* On 04/17/2009 JOSEPH LAMAR KENNEDY filed Chapter 7 Bankruptcy in Federal Court, Case 09-50239 Mr. Kennedy was being foreclosed on for his 2 condos 201 and 405.

For an article on how foreclosure works go to:

What are a renter's rights in Foreclosure? See:

Friday, May 22, 2009

Wednesday, May 20, 2009

The Waterstone/NCPCB presence here at Nautilus Cove is soon to be ended. The 4 foreclosures against their units in the 7 Building are proceeding and unless there is a last minute bankruptcy filing the condos will soon be property of the Compass Bank in Birmingham. The below summary is for the #710 condo.
Double click for larger image or print out for your file.

Sunday, May 10, 2009

Waterstone Resort Realty, LLC at NCC in Foreclosure for 4 Condos

Waterstone, who recently changed their LLC registered name to NCPCB Investments, LLC, is in Foreclosure for the 4 Condos they own here at Nautilus Cove, in building 7*. They had 30 year 6.625% mortgages through Compass Bank in Alabama and did not keep current on their monthly payments of $864.87.

They are also $1400 in arrears on each unit for their 2 missed quarterly association fee payments and it is expected that shortly liens will be filed on all 4 units. The principal players in this LLC are Chad Gilliland and local big time operator Mr. Alan O'Neal. Ben Edwards recently opted out of this LLC (rats = sinking ship?).

The owners civil suit against Waterstone/NCPCB continues for their prior conduct in renting out their units which were used as a dormotory for foreign workers (as is happening today with a non-Waterstone unit, #706).

* 710, 712, 714, 716


Tuesday, April 28, 2009

William Harris v. Nautilus Cove Condominium Assn, Inc and Waterstone Resort Realty, LLC

For those of you following this civil suit you might recall that it started on June 10, 2008 and on Jan 13, 2009 this matter was scheduled for arbitration May 12, 2009 at 9:30 a.m., at the law office of Hutto and Bodiford in Panama City, Florida. The attorney for Nautilus Cove Condominium is Steven Applebaum who had insisted that the matter go to arbitration.

In the latest nonsense from attorney Applebaum, he writes in part: "I cannot agree to the arbitration that is presently scheduled for May 12, 2009, in the above referenced matter. My assistant scheduled the arbitration date without my knowledge and I have just been made aware of said date . . . my client will not be attending the arbitration . . . and I ask that it be cancelled. In any event my client will not be bound by any decision made at arbitration if you intend to move forward with the arbitration."

Total costs are estimated at $25,000.
Details at:


Monday, March 16, 2009

Legal Update: Harris v. Waterstone and NCC BOD

Readers here might recall that I had some complaints about the rental of condos by Waterstone Resort Realty, LLC and complained to the NCC BOD repeatedly From Sept 07 until June 10, 2008 when I had my attorney file suits against both Waterstone and the NCC Association.

The matter was ordered to Arbitration by Judge Costello over 2 months ago. So far both the NCC BOD and Waterstone (now known as NCPCB Investments, LLC) have been totally uncooperative in setting a date for this to proceed.

I do understand why Waterstone/NCPCB Investments seek a delay, in my opinion, they are as close to going out of business as to make no real difference. They are behind on their assessments, haven't paid their mortgage to Compass Bank since July 08 and are now in forclosure on 710, 712, 714 and 716, so the delay is an obvious attempt to avoid having to answer for their screw up in renting illegally.

The motives of the Association BOD is less clear. I would write this off to simple indifference on their part as 2 of the 3 BOD members are developers of the complex and really could not care less what happens here.

The problem is that this matter will eventually be heard and decided with the loser paying ALL costs and attorney fees for both sides. Since I am not dumb enough to start a civil action that wasn't a sure winner I'm afraid that, with Waterstone pretty much down the tubes, the NCC owners will be on the hook for the costs and attorney fees of about $25,000. This will probably mandate a special assessment as there is no provision in the 2009 budget for this.

The matter never needed to go to court in the first place, but the BOD and Seagrove Management Company repeatedly ignored the complaints about the condo misuse. In fact the BOD and current management company (Concord) are still ignoring another similar matter with the misuse of 706.

Details can be found at:

Monday, March 2, 2009

Waterstone Resort Realty is now NCPCB Investments

I assume that Edwards, O'Neal and Gilliland decided on the name change in order to lose some of the very negative history that Waterstone Resort Realty, LLC had accumulated over the last few years.

It might seem odd that a company with probably 'terminal' financial problems would take the time and effort to change their name.
Keep in mind that there are/were 7 LLC's that had 'Waterstone' in their title. 2 of them have serious problems (5 & 6 below). By renaming the one that will almost surely be bankrupt shortly they have moved the goalposts so to speak.
Now customers who look up the generic title of "Waterstone" will not find that a Waterstone company has crashed. Also I note that on Feb 10th, Ben Edwards removed his name as a manager of this doomed LLC.

The below are other LLC's that have mostly the same people involved in the various "Waterstone" companies.

(Name changed to: NCPCB INVESTMENTS, LLC)


Use these direct links to other blogs for additional information on both Waterstone and Nautilus Cove Condominium in Panama City Beach, Florida:

Update FYI

1) Waterstone Resort Realty, LLC filed on 2/16/09 with an 'amendment' to their Articles of Organization to change the name of their LLC to: NCPCB Investments, LLC this is found at

2) The 4 condos that 'were' owned by Waterstone at Nautilus Cove Condo are in foreclosure. In regard to 712, the last payment to Compass Bank was made in July 2008. They are also behind in their quarterly assessments at the condo complex.


Condo #710 WATERSTONE RESORT REALTY LLC - (Primary) 09000851CA Civil

Condo #712 WATERSTONE RESORT REALTY LLC - (Primary) 09000943CA Civil



Alan O'Neal, mentioned below, is involved with this Copa Cabana screwup and is a major player with the various Waterstone flagged LLC's.

Bank repossesses Copa Cabana

February 26, 2009 12:01:00 AM
By WILL HOBSON / News Herald Writer
PANAMA CITY — The former Copa Cabana Extended Stay Hotel on Beck Avenue, closed since 2006, apparently will not re-open anytime soon.

Prosperity Bank completed foreclosure on the property Wednesday. Details on what happened to scuttle re-design plans were not forthcoming Wednesday.

CCH Ventures, LLC bought the Copa Cabana from Western Hostel, LLC for $2.15 million in March 2006, according to Bay County property records, and took out a $1.6-million mortgage from Prosperity.

The Copa Cabana, built in 1960, closed later that summer, and has been dormant since. According to foreclosure court filings, CCH Ventures owes Prosperity Bank $1,642,785. The Bay County Property Appraiser's Web site lists the Cabana's 2008 market value as $1,366,752.

Prosperity began foreclosure proceedings in Bay County last May. The court ruled in favor of Prosperity on Jan. 8. No one placed a bid on the property at an open auction held Feb. 8, and Prosperity officially took the deed on Wednesday.

None of the defendants listed on foreclosure court filings - CCH, Alan M. O'Neal and AOCO Investments, LLC - could be reached Wednesday. Limited Liability Company documents filed with the state show CCH and AOCO as both being based in Destin.

Nancy Wengel, executive director of the St. Andrews Waterfront Project, said Wednesday that a representative of the Cabana's new owners showed up to meetings in 2007 and began talks about re-design plans for the hotel.

"Then obviously whatever problems happened set in, and those plans went up by the wayside," said Wengel.

Saturday, February 28, 2009

Friday, February 27, 2009

You can find this article at the local blog site: If you have already seen this on that site just skip down to read other posts.


Throwing Stones at Waterstone
Written by Jason Koertge
Last Updated: January 12, 2009

Waterstone Resorts and Vacation Homes offer vacation rentals all over the state of Florida. On Panama City Beach they claim to manage properties from ten different resorts. The company’s website is full of glowing reviews and recommendations but if someone just scratches the Google search service a little, they will find numerous negative claims about Waterstone. If that is not enough a check of their status with the Better Business Bureau (BBB) finds a C- rating due to a series of unresolved complaints. On a Waterstone blog website there is evidence that the BBB has given them an unsatisfactory rating, but this has not been discovered in any BBB materials as of yet.

“Waterstone Sucks,” seems to be the ringing sentiment of many current and past clients of the company found on blog websites all over the internet.

Jim Pitts, an owner at Calypso Resorts and Towers that used Waterstone, stated that he inspected his unit three times last year and each time the unit was filthy.
“The carpet was so dirty it had to be replaced,” Pitts said. “There was filth everywhere. The walls were marked up, dust and dirt caked on baseboards, light bulbs and even the toaster was dirty.”

Pitts wrote a handwritten note and email to Waterstone stating that he no longer wanted them to manage his properties. His communications went ignored until he sent a certified letter sometime later demanding that tenants be removed from his property and that Waterstone cease any further management of his property.
Pitts also feels that the company is unethical and unfair in their fee structure and maintenance.

“They charge the owner for travel agent fees on top of their own (fees) and they charge the owner for ‘credit card’ use. They will charge the owner a minimum of $22.50 every time they so much as set foot in the unit to do anything,” Pitts said.

“They rip the owners off with the keyless entry crap and owners of Calypso units need to understand that these people are absolutely ruining our investments. They need to be removed from the premises.”

Bill Harris, another individual who has had dealings with Waterstone, has set up numerous blog websites for angered property owners to vent their passions about Waterstone. These can be found at:,, and .

Harris claims that Waterstone owns four units at Nautilus Cove Condominiums and that the company is currently past due on their condo’s quarterly assessments. There is also evidence that the State of Florida has already four outstanding liens against the company for over $118,000. If the Nautilus Cove past due amounts were not paid by the end of ’08 then Waterstone will be facing new liens.

Waterstone seems to find them self in a public relation nightmare. When a company ignores claims from concerned clients, there are avenues that these clients can take to attack the company’s reputation. As of right now, a Google search of “Waterstone Panama City” brings up typical listings for the company. The company should be aware that as these blog websites attract new participants there could be a day, not far off, that one of these blog websites could be ranked by a search engine right underneath the Waterstone website or even above it.

Thursday, February 26, 2009

I have a good number of blogs a few of them dealing with Waterstone, many of them have a direct click on link to a site where you can post about Waterstone In checking today I found the below post which says better than I ever could just why Waterstone SUCKS - here it is FYI:

Author Comment Jim Pitts
Jan 4, 09 - 5:36 PM

Waterstone Sucks- I am an owner at Calypso. I had my unit with Waterstone. I've never stayed in the unit myself, but did inspect it three times last year and each time it was dirty. The first two times, I informed the desk and asked that they have the unit re-cleaned. I never checked back to see if it was done.

In Nov I again inspected the unit, it was not just dirty. It was filthy!! The carpet was so dirty, it had to be replaced. There was filth everywhere. The walls were marked up, dust and dirt caked on baseboards, light bulbs. Even the toaster was dirty. I was so disgusted, I gave the Waterstone office a handwritten note right then and told them they were fired.

They did not acknowledge the note, I sent them an email and again they did not respond. Finally on Nov 11, I sent them a certified letter telling them they were no longer to rent my unit and if they had renters, to put them elsewhere. I then undertook the job of totally renewing the unit with new carpet, paint, etc. Not only are they the worst housekeepers I've ever seen, but they charge the owner for Travel Agent Fees on top of their own.

They charge the owner for "credit card" use. And, they will charge the owner a minimun of $22.50 everytime they so much as set foot in the unit to do anything, all the while charging the owner $35.00 a month for maintenance that is never covered or done. They rip the owners off with the keyless entry crap.

Owners of Calypso units, need to understand that these people are absolutely ruining our investments, and they need to be removed from the premises. Suck!!! You bet they SUCK!! And we as owners, need to find other managers and run these SUCKERS off the premises.

Jim Pitts