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palm coast: Are You Trying to Sell Your Property or Just List it? - 06/08/08 11:00 AM
It's said that sellers are the last ones to know the market has dropped. By most measures, the Palm Coast, Flagler County housing market peaked in the summer of 2005. Yet, 2 ½ years later, some sellers still haven't gotten the message. How can that be? It's certainly not because of the lack of media coverage.
People fall in love with their assets. They just can't believe that there isn't at least one person out there that values their property as much as they do. But after 2 ½ years, shouldn't they be waking up to reality? Here are … (0 comments)
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palm coast: The Lubert-Adler Connection – Where does Bobby Ginn's Development Money Come from? - 04/16/08 06:30 AM
I just finished covering the Ginn Championship at Hammock Beach. The tournament is part of the PGA Champions Tour. This was the second year Bobby Ginn's Ocean Course at Hammock Beach hosted the event. As a response to the downturn in the real estate market, Ginn made some changes from last year. The blimp was gone. It's now owned by Direct TV. The number of volunteers was down a little; as was the compensation package they were given. The Saturday night Smokey Robinson concert was limited to Ginn Club members only.
But the tournament did not suffer a bit. By all accounts, … (1 comments)
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palm coast: The Palm Coast, Florida Housing Market May have Reached Bottom - 03/20/08 06:41 AM
The Palm Coast, Florida housing market may have reached bottom. February stats continue a trend first noticed in January. In each month, the number of homes available for sale on MLS declined and the number of signed sale contracts increased. My February newsletter showed that even though the number of closings in January was the lowest in several years, the number of homes for sale declined. Obviously the reason for the decline was not that homes sold. It was, in fact, because prices have reached a level where discretionary sellers decided that they would not lower their asking price to the prevailing … (3 comments)
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palm coast: Amid a Lousy Real Estate Market, Law Suits, and Rumors, is Bobby Ginn Imploding? Not from My Viewpoint. - 10/04/07 07:26 PM
October 4, 2007 - Palm Coast, Florida - Over the past few months, things in Bobby Ginn's world seem to have been disassembling. Bobby now faces a total of seven law suits; two related to his real estate empire and five to his personal foray into and embarrassing exit from NASCAR racing. Some property owners at The Conservatory at Hammock Beach, mostly investors, are rattling sabers because they find themselves unable to flip lots purchased at the market's peak. Ginn has a new president, Robert Gidel, who, not coincidentally, has very close ties to Lubert-Adler, Ginn's longtime funding source (story). Gidel … (14 comments)
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palm coast: Sawmill Creek in Palm Coast, Florida - 09/15/07 07:32 PM
Sawmill Creek, approved as a planned residential community of over 1000 acres, is in the final planning and permitting stages. Sawmill Creek is located in the northwestern section of Palm Coast Park, west of US 1 south of I95 and north of Matanzas Woods Pkwy. The Planned Unit Development (PUD) agreement for Sawmill Creek allows for 1,469 residential units (single family and town homes, 50,000 square feet of neighborhood retail and office space, a 10-acre park and space for a school. A Jim Furyk designed golf course will be included in the first phase of the development. Michael Beebe is co-designer of the course. Construction … (0 comments)
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palm coast: City of Palm Coast Approves Contingent Agreement to Acquire Palm Harbor Golf Course from Centex - 09/14/07 04:51 PM
September 6, 2007, Palm Coast City Council unanimously approved an agreement to accept Centex's contingent donation of the Palm Harbor golf course. As disclosed in earlier articles, Centex desires to amend the existing Development Orders (DO) for the Harborside Inn and Marina to enhance the property's marketability. The requested changes were not detailed at last night's council meeting but previous information meetings disclosed that Centex was looking for the following changes to the Development Orders to gain additional flexibility:
Downsize the two remaining condominium buildings Optionally allow the condo/hotel to be a standard hotel Extend the DO by a period of two yearsThe … (0 comments)
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palm coast: Ed Burr, LandMar Founder and CEO Resigns - 09/14/07 10:51 AM
LandMar CEO, Ed Burr, was unsuccessful in a recent attempt to negotiate his purchase of Crescent Resources' controlling interest in the company he founded in 1987, so he has decided to leave. Burr will be replaced by Dan Kohlhepp, president of Crescent Resources' commercial division. Details of Burr's offer to Crescent were not made available. LandMar develops communities primarily in the southeast U.S. as well as in Texas and Arizona. They are one of Flagler County's largest developers with several projects:
Grand Haven - LandMar purchased the Grand Haven development from the original developer, Lowe Enterprises when it consisted of fewer than … (0 comments)
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palm coast: Ginn Company Purchases Bulow Shores – Intercoastal Property Once a Centex Project - 09/11/07 08:20 AM
In April, I heard that Bobby Ginn purchased the Bulow Shores development from Centex Destination Properties (CDP). I contacted a Ginn spokesperson to confirm the story. He said he would check it out and get back to me. He never did, so I posted it as a rumor. Well, now it's news.
Locator Map
According to public records, Ginn Bulow Shores LLC purchased the property from The Von Bulow Corp in April. Centex was marketing the project but had not completed the purchase of the property. I understand they had accepted reservation deposits. The 243.9 acre tract sits astride John Anderson running … (0 comments)
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palm coast: City of Palm Coast Approves Several Town Center Projects, Including a Boutique Hotel and an Exclusive Mixed-use Condominium Project - 09/10/07 07:38 PM
August 27, 2007 - Palm Coast, Florida -Flagler County's the residential real estate market flounders but the commercial side shows strength. A few projects, such as the CVS on SR100 at John Anderson, have been put on hold. Epic's much anticipated multiplex movie theater/retail complex is apparently being set back. Informal discussions have taken place, but formal plans have yet to be submitted to city planners. Meanwhile, progress on the Town Center front is becoming apparent.
The final site plan for Golden Gate was approved. Golden Gate is a "boutique" hotel, with 80 plush guest rooms, meeting rooms, a fine dining restaurant, … (2 comments)
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palm coast: Ginn Resorts Enters Georgia Real Estate Market With Acquisition of BriarRose Community - 08/16/07 07:41 AM
August 16, 2007 - Palm Coast, Florida - Ginn Resorts projects within Flagler County include Hammock Beach, The Conservatory, Yacht Harbor Village, The Gardens, and Bulow Shores. The Celebration, Florida based resort and real estate developer announced yesterday that it acquired the real estate holdings of Atlanta based developer, BriarRose Land Company. BriarRose Land Company is currently developing the BriarRose Hamlet, a 1,879-acre private country estate and club community located in the Oconee River Valley near White Plains, GA, 15 miles from Lake Oconee and Greensboro, GA. The Lake Oconee area is one of the fastest growing real estate markets in … (3 comments)
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palm coast: Sea Colony - 08/09/07 08:49 PM
Sea Colony is a unique gated oceanside community located in the Hammock area of Flagler County, just north of the upscale Hammock Dunes, Ocean Hammock, Hammock Beach developments. Unlike its luxury neighbors to the south, Sea Colony is a quiet, laid back community of smaller homes, most less than 2,000 square feet. It offers a lovely beach, a community clubhouse and pool overlooking the Atlantic Ocean. Several small lakes offer great views, privacy, and fishing. Biking trails and county parks are close by. Described best as a quiet retreat, Sea Colony is situated just 15 minutes from St. Augustine near Palm Coast.
What … (0 comments)
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palm coast: Town Center at Palm Coast - Mixed-Use Development - 08/03/07 04:11 PM
Town Center is the largest and most significant real estate development underway in Flagler County, FL. Sited on 1500 acres north of SR 100 between I95 and Belle Terre Parkway, it combines business, residential, parks, government, and retail in a multiphase plan expected to be completed about 2020. Palm Coast Holdings, a subsidiary of Allete Properties, is the developer. Site work that began in the Spring of 2005 is nearing completion. The project is divided into 30 separate development tracts.
<Virtual Tour> <Tract Map>
Development approvals are in place for the following land use entitlements:
Residential - 2,500 units. Commercial/Retail - 3,400,000 sf. Office - … (0 comments)
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palm coast: Hammock Beach - Luxury Oceanside Resort - Private Golfing Community - 08/03/07 03:59 PM
Hammock Beach was the first of The Ginn Company's developments in Flagler County. Ginn purchased property from Lowe Destination Properties, the same folks that developed Ocean Hammock. It is located along the Atlantic shore in an unincorporated area known as The "Hammock.''
Hammock Beach has 213 single family homesites but the jewel of Hammock Beach is the 12-story resort condominium called The Club at Hammock Beach. The Club at Hammock Beach boasts two fine restaurants, a state of the art fitness center and spa, and a $6M swimming complex. This club and its amenities are available only to property owners and their guests. Many … (0 comments)
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palm coast: Hammock Dunes - Exclusive Private Golfing Community - 08/03/07 03:52 PM
Hammock Dunes is a private, gated community located on 997 acres along 1 1/2 miles of beach front in Flagler County, Florida. The upscale community combines estate homes, luxury oceanfront condominiums and two championship golf courses. In addition, a 2 1/2 mile long island in the Intracoastal Waterway affords the venue for Island Estates, a sub-community of luxurious homes, most in the $million plus category. The equity club consists of two golf courses. The Tom Fazio designed Links Course is located on the barrier island within the Hammock Dunes compound. The Rees Jones Creek course is located among pristine creeks and … (0 comments)
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palm coast: Grand Haven - Gated Golfing Community in Palm Coast, Flagler County, Florida - 08/03/07 03:45 PM
Nestled along the West side of the Intracoastal Waterway in Palm Coast, Grand Haven is a residential gated community of homes in the $250's to $1 million plus range. Chose from Intracoastal, lake, golf course or preserve fronted homes and home sites. Homesites range from $90K for interior lots to $500-750K for Intracoastal sites. Live side by side with osprey, eagles, herons, egrets, gators, and deer. Sighting of Florida panther, bobcat, wild boar, and otter have also been reported. Launches from Cape Canaveral are often visible.
A private highly rated Jack Nicklaus signature golf course with a beautiful clubhouse winds through the … (0 comments)
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palm coast: Developer Bashing - A Florida Pastime - 07/29/07 08:03 PM
But let those who have not taken out a home equity loan, made possible by the handsome increase in the value of their home, cast the first stone.
Palm Coast, Flagler County, Florida - One of my readers posted the following comment to a recent article about Sawmill Creek, a gated, golfing community currently under development by Lowe Destination Development. He questioned the sanity of developers. Here are his comments and my reply.
Comment Title: "Why More Private Communities"
Comment: "In all of your conversations and research has anyone made any sense as to why the persistent focus on these ‘upscale' communities in this area? From what I … (1 comments)
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palm coast: Auction of Lots in Ginn Developments Yields Disappointing Results - 07/23/07 09:37 AM
The ingredients for a successful sale were there. The auction company was highly respected Sheldon Good, the largest real estate auction company in the country. The properties were desirable, all in private communities developed by Bobby Ginn, rich with amenities packages. The seller was flexible, understanding that the market had changed from the time $2.5 million was paid for the lots two years ago. The sale venue was the Palm Coast Yacht Club. But the buyers were missing - at least enough of them willing to bid seriously. The five properties in the auction were:
Hammock Beach
Lot 41 North Shore Avenue, purchased … (5 comments)
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palm coast: Palm Coast, FL - 23% of Lots in The Conservatory Have Delinquent Tax Liens - 07/21/07 02:02 PM
Another Ginn development was hailed as a hugely successful offer in 2005. 337 Conservatory at Hammock Beach lots were oversubscribed by eager investors at prices ranging from $329,900 to $529,900. The final tally was nearly $142 million. Many buyers planned to flip their lots, reaping a nice profit, as many had done with previous Ginn projects.
Today, 80 lots are listed for sale on MLS. No Conservatory lots have sold through MLS in the past 24 months. Nor does MLS list any Conservatory lots in either a pending sale or contingent sale status. (MLS data does not show subsequent sales brokered through … (1 comments)
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palm coast: The Ginn Company has a New President - 07/17/07 06:20 PM
Robert H. Gidel, formerly a Managing Director of Liberty Partners, LP, has joined The Ginn Company as President. Bobby Ginn will continue his role as Chairman and CEO. An internal announcement is being developed and a formal press release is forthcoming. Mr. Gidel is already residing in Orlando.
I spoke today with Bobby Masters, Executive Vice President of The Ginn Company and with Ginn spokesperson, Ryan Julison. They described how the company has been looking for nearly five years for the right person to take over much of the day-to-day operations of the company, to free up Bobby Ginn to do … (10 comments)
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palm coast: Why does it take so long to build a house? - 07/13/07 12:54 PM
They build houses in just a few days on television. Of course everything is pre-staged and non-traditional methods are used, but why does it take 6 to 18 months in real life?
Home construction is not a simple task. Most have no idea how many steps and how many different skills or trades are required. Building codes, materials used, construction methods, weather, and architectural styles vary from region to region, but this article's message is fundamentally valid anywhere. My reference is Palm Coast, in Flagler County, on Florida's northeast coast between Daytona Beach and St. Augustine. Here, we don't dig … (2 comments)
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Toby Tobin
Palm Coast,
FL
More about me…
Real estate commentator; GoToby.com, Take Action Propertiesi
Address: 35 Riverview Bend S., Unit 1816, Palm Coast, FL, 32137
Office Phone: (386) 597-2185
Cell Phone: (386) 931-7124
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