Matanzas Woods Market Report - June 2008

Active Residential Houses for Sale: 78
Average List Price: $239,940
Lowest List Price: $119,999
Highest List Price: $499,000

Current Pending: 6
Sold (June 2008):  4
Average Sale Price:  $193,000
Average Days On Market:  214

Year-to-Date Residential Home Sales: 23
Average Number of Days on the Market: 162
Average Sales Price: $193,561
Lowest Sales Price: $118,500
Highest Sales Price: $310,000

Overall Flagler County and Palm Coast Market Updates can be found on our website at www.FlaglerResident.com/MarketUpdate

Disclaimer: All information is based upon the Flagler County Assoication of Realtors MLS as of 7/8/2008. All information may be deemed reliable, but is not guaranteed.

PS: It is a Buyer's Dream in this Market! We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More! Visit us at www.FlaglerResident.com for more information or email Kathy@FlaglerResident.com for an up-to-the minute list of Hot Properties!

Sellers today understand there are many challenges to selling their property.  Many owners may try to simplify the reason why, but you may be missing the real reason.  You may be saying or hearing:

1. "The market is down, and that's why our property is not selling."  "Down" does not mean nothing is selling.  So far this year (thorugh 6/11/2008), Flagler County FL has had 550 Residential homes close or an average of about 92/month so far. 
2. "Everyone is just buying foreclosures and short sales."  Of that 550, about 118 have been foreclosures and 70 have been short sales.  Therefore, roughly 34% of residential house sales so far this year have been foreclosures or short sales.  66% were not.

(Visit www.FlaglerResident.com/MarketUpdate for local statistics through May '08 broken down by price-band)

So why aren't you a part of that 66% group?  Well, that answer actually comes form buyers.  Fortunately, buyers are telling us quite a bit.  Not only in what they say, but how they shop and where they go.  With plenty of competition in terms of similar properties for sale, it is important to make your property "stand out" and get the message out to the widest audience possible.  So what stands out to buyers?

1. Price - This is pretty obvious.  This is a large purchase, and most buyers are bound to a price range within the confines of what they can borrow.  Since somewhere in the range of 85%-90% of buyers are shopping on the internet first, buyers will narrow their search within a price range.  In addition, working with buyers and having a large selection it is important to narrow those options down for them and price is one of the normal ways to narrow that search.  So you may be "motivated" in your description of the property and may be "open to all offers", but incorrect pricing may be excluding you from reaching out to a large "buyer pool".  Yes, buyers know they can make an offer.  What many forget is that buyers most often have been or are sellers too and will make offers within reason.  They do not want to waste anyone's time. 
2. The Internet - Again, a good majority of buyers are utilizing the internet to search for properties.  The internet allows a great deal of functionality in searching and more importantly experiencing a property before making the decision to visit.  Buyers consistently say they want to see as many photos of the property as they can.  And they are telling us, the more the better.  I call this "internet appeal" (I'm pretty sure I'm the first to use that phrase so I own it now).    Just as "curb appeal" entices the visitor to want to see more (inside), "internet appeal" entices the buyer to want to visit the property and see it first-hand.  Since "a picture can say a thousand words", what are your photos saying or not saying?  Visit A1A Home Staging to see some great examples of before and after pictures.  Or visit our listings to see how some great internet presentations at FlaglerResident.com or a great example of a dedicated property website with one of our listings at FlaglerShowcase.com.  And don't take photos until the property is ready to present to buyers.  Most importantly, is your property posted to all of the major websites where buyers are shopping for Real Estate?  We understand this as well, and not only do our properties appear on our own website which receives thousands of visitors per month . . . we also insure our sellers get the maximum exposure and appear on all of the places where buyers shop for real estate. 
3. Curb Appeal - Curb appeal serves a function, and that is to entice a buyer to want to see more.  A neatly kept lawn, color in the garden, clean outside, and a nice looking sign with contact information are all important.  This may be your first impression.  Remember 10-15% of buyers are not using the internet first, so you need to be able to capture them as well. 
4. Inside Presentation - Buyers want to be able to envision living in the house.  Therefore, staging the house effectively is very important.  Again, Anita at A1A Homestaging has several differnet options help local sellers with effective staging.  The most common advice in this area is to remove clutter and take down personal photos.  Adding furniture and staging a vacant property is also very effective.  Having furniture in a room, provides for a much better visual of the possiblities than one without. 
5. Follow-up and feedback - Feedback is extremely important because it will give you some common denominators to help make decisions during the lifespan of your listing.  If paint color consistently comes up as a "turn off", paint the room a more appealing color.  Although the buyers can paint themselves, it may be a little thing that can turn them off entirely.  Some feedback obviously may not be able to be reacted to such as size of rooms.  But as an alternative to knocking down walls, home stagers can provide advice to "open up" a room visually.  The size of the room may actually not be inadequet, but the perception of it's size is distorted due to too much bulky furniture or layout of furnishings. 

Again, sellers are faced with a number of challenges as we all know.  But selling in today's market climate is not at all impossible.  Properties are selling locally and nationally.  Buyers are contacting me daily.  Make your property stand out amongst the crowd, and buyers are telling you how to do that.

Disclaimer: Statistics are based upon the Flagler County Association MLS and are deemed reliable but not guaranteed.

Fortunately, I haven't had much time to post here lately.  I say fortunately, because my calendar has been pretty full working with customers in the area.  Around the fall I was wondering if continuing in the Real Estate industry was the best thing for me to do.  After a year of a lot of work that did not seem to go anywhere, it was time to make some decisions.  After a conversation with my current Broker, Nathan Gilliam, I realized there were some things that I ahd been missing the "mark" on.  But more than that, he began discussing the team concept in Real Estate and the benefits.  I was a little reluctant at first, because I am not one for the "too good to be true" scenarios.  I can now say that I am extremey thankful for the choice I have made. 

At Resident Real Estate Network I have been able to focus on one area of the business, and do what I love about Real Estate . . . assisting customers in reaching their Real Estate goals.  I'm busy, but it's the good busy.  I am helping many customers in the area and from all over the country to find the best financial benefit, provide ease of transactions, and give them superior service.  And the whole time, sellers are also finding the benefits of our superior marketing and advertising for their properties.  See some examples at, FlaglerResident.com.  Our sellers enjoy the benefits of "Enhanced Listings" on Realtor.com, "Featured Property" spots on Realtor.com for the area, Virtual Tours, superior presentation, widespread internet advertising on all the major Real Estate sites, and consistent and timely communication about their listing.  And we are always adding new services as well to constantly enhance our customers' experiences. 

We have a beautiful town, and it's always a pleasure sharing Palm Coast and Flagler County with others.  We look forward to working with you.  Stop on by FlaglerResident.com if you want more information about our area, updates about the Real Estate industry in general, detailed local market updates and statistics, and a lot more. 

Town Center continues to be a topic of discussion especially when one sees construction vehicles or a ground-breaking ceremony.   Palm Coast Holdings offers a great website filled with useful information about the projects and an interactive map that details what each area will have.  You can also visit Palm Coast Holdings, Inc. website by clicking here and get more information on Town Center and Palm Coast Park. 

Parcels to note: 

1. Epic Theatres is located on Parcel on Parcel #9 and is scheduled to open Fall 2008.
2. The Hilton Garden Inn is located on Parcel #8
3. The Medical Center is located on Parcel #16 

PS: Coming to the Ginn PGA Championship coming in March 2008?  It is a Buyer's Dream in this Market!  We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More!  Visit us at www.FlaglerResident.com/GinnChampionship for more information or email Nathan@FlaglerResident.com for an up-to-the minute list of Hot Properties!

PS1: Do you have a Luxury Property you are thinking of Selling?  Ask us how we can market YOUR property at the Ginn Championship!  We will have a booth at the Ginn Championship and can give YOUR property top exposure to GET IT SOLD!  50,000 people are expected to attend based on last year's event!  Visit us at www.FlaglerResident.com/GinnChampionship for more info!

Real Estate buyers over the last several years have been flocking to the internet to search for properties available for sale.  Studies show that over 85% of buyers are using the internet first in their search for Real Estate.  It's no wonder either.  The internet offers Real Estate shoppers the ability to get more information and a better perspective of a property with pictures and/or video before ever touring a property. 

Anyone who has done one of these searches through sites like Realtor.com or local MLS feed sites know that this can be a daunting task as well because of the amount of properties available and number of sites available to search.  Many buyers have found the power in signing up to receive contoured email-based searches to be a great service.  The process is simple:

1. Fill out a simple online form detailing what criteria you are searching for (i.e. area, bedrooms, bathrooms, square footage. etc.)
2. A list will arrive in your email box in the next few hours
3. Any new or updated properties (i.e. price changes) will arrive to you via email as they come along
4. Keep a list of properties that interest you including the MLS number, or simply call when you find a property that interests you to get more information. 

Sound simple?  It is.  The benefits are even beyond just the convenience and simplicity, buyers using this service are getting new and updated listings before many others even know the property is for sale or has had any price changes.  Sales have picked up too.  As I write this, our area has over 200 pending contracts and with great prices it is not uncommon for properties to sell in short periods of time.  The email delivery gives you as a buyer a unique advantage. 

I always suggest making sure that you are getting listings emailed to you from an MLS system such as the service offered on http://www.flaglerresident.com/

Click here to start your Flagler County/Palm Coast, FL Power Buyer Search Today!

PS: Coming to the Ginn PGA Championship coming in March 2008?  It is a Buyer's Dream in this Market!  We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More!  Visit us at www.FlaglerResident.com/GinnChampionship for more information or email Nathan@FlaglerResident.com for an up-to-the minute list of Hot Properties!

PS1: Do you have a Luxury Property you are thinking of Selling?  Ask us how we can market YOUR property at the Ginn Championship!  We will have a booth at the Ginn Championship and can give YOUR property top exposure to GET IT SOLD!  50,000 people are expected to attend based on last year's event!  Visit us at www.FlaglerResident.com/GinnChampionship for more info!

What used to be "nice" services in our industry such as automated emailing of listings, has quickly become standard practice.  Consumers have voiced their wanting of this type of convenient and easy notification service when shopping for a property.  As most know, you can't send this type of information driectly from your own computer and most of us don't have our own personal servers (well, maybe some of those gamers out there that are Realtors by day and Halo'ers by night).  But are your customers getting their requests?  Not always.

Here's the issue.  Since these automated listings are being sent from the MLS company's servers (most often) and set to show that they are coming from you (the obvious preferred method), ISP's are beginning to block these messages more and more regularly because they appear mismatched and along the lines of spam.  So the fix should be easy by just having the emails go out with the MLS company's server address only and your contact information right?  Wrong.  The problem then becomes that these MLS servers are often sending out thousands of emails daily which again puts them on the spam list which can get them "blacklisted".  How do you know if this is happening?  One way is that the customer may tell you that they aren't receiving anything.  Second is that you will most likely be receiving multiple email messages showing "Mail Undeliverable". 

Is this a huge issue?  Yes.  "E-Listing" services is a very valuable service that consumers want.  And it is a very valuable service for sellers to know that their property will be delivered to potential buyers who have a criteria matching their property.  I understand all the issues regarding spam and measures that have had to be taken, but this would be along the lines of the U.S. Post Office only delivering coorespondence they deem ok to send.  That if they perceive the item to be advertising, then they don't have an obligation to deliver it.  Many may make the argument concerning virus protection, and I 100% agree that viruses are a very real issue especially because of growing dependency on computers and data.  Precautionary meausures should always be taken such as always updated virus protection software, discretionary email opening and clicking on links, so forth and so on. 

This is (and going to be a growing issue) in our industry if we can not provide services to consumers that they are asking for.  Email is not a "nice" thing to have anymore.  The "Pony Express" days of email being a novelty are over.  It is almost as common as the front lawn mailbox with Americans today.  It has great functionality by allowing enhanced levels of communication and greatly improved services.  If you are experiencing this same issue please let me know what actions you've taken to correct this to reduce any disruption of service to your customers since this is becoming more and more prevalent recently and hasn't been an issue for me previously. 

PS: Coming to the Ginn PGA Championship coming in March 2008?  It is a Buyer's Dream in this Market!  We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More!  Visit us at www.FlaglerResident.com/GinnChampionship for more information or email Nathan@FlaglerResident.com for an up-to-the minute list of Hot Properties!

PS1: Do you have a Luxury Property you are thinking of Selling?  Ask us how we can market YOUR property at the Ginn Championship!  We will have a booth at the Ginn Championship and can give YOUR property top exposure to GET IT SOLD!  50,000 people are expected to attend based on last year's event!  Visit us at www.FlaglerResident.com/GinnChampionship for more info!

If you've ever looked into buying a Tablet PC, you've probably noticed the prices are high and very difficult to find under the $2000.00 range.  I've been keeping my eye on them and constantly checking, and found the best deal I've seen yet . . . The Gateway C-141X.  The specs are great with a Pentium Duo processor, 2GB of RAM, and a 160GB hard drive for $999 plus a $70 off coupon (kind of a wacky thing, but it's there!) bringing the price to $929.  This is a full-size laptop with the tablet feature with a decent weight of 6.2lbs.  Yup, I ordered it immediately.  I have used a similar model that Gateway put out before that another Realtor had and it's been very reliable for them. 

PS: Coming to the Ginn PGA Championship coming in March 2008?  It is a Buyer's Dream in this Market!  We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More!  Visit us at www.FlaglerResident.com/GinnChampionship for more information or email Nathan@FlaglerResident.com for an up-to-the minute list of Hot Properties!

PS1: Do you have a Luxury Property you are thinking of Selling?  Ask us how we can market YOUR property at the Ginn Championship!  We will have a booth at the Ginn Championship and can give YOUR property top exposure to GET IT SOLD!  50,000 people are expected to attend based on last year's event!  Visit us at www.FlaglerResident.com/GinnChampionship for more info!

 Click here for more information on this book.

I recently picked up a copy of "House Lust" (as seen above) by Daniel McGinn, and am mezmorized at how much we forget and far housing has come over the years.  This book is a cultural study into what drives the obssessions with Real Estate (i.e. checking listings even when you aren't considering buying, visiting the neighbors open houses, home shows, etc.).  It's not a book filled with stats and economical analysis.  You'll often find yourself laughing while reading because you do some of those same things.

The book also does a great job at speaking to some of the changes we see in home features over the years.  The one thing that really stood out to me right in the first chapter was . . . size.  We want BIG homes nowadays.  The average size home has grown from 1300 sqft in 1986 to about 2400 sqft today.  And we want more bathrooms.  Remember those days when 2 bathrooms was a dream-come-true?  That's common-place today and not very uncommon to see 3-7 bathrooms in a house (counting up all the 1/2 baths).  In fact, we can even end up with more bathrooms than bedrooms.  As long as the bedrooms are BIG . . . we're good.  This was an interesting fact too concerning size.  The first "New American Home" built for the Home Builders Convention was 1500 sqft (something like 1995 I think).  Last year's was 10,000 sqft.  12 years later and . . . 10 times the size.  Yes, lots of bathrooms too.  It's in the book.

We have all seen some very interesting trends especially over the last several years.  Home theater rooms, mudrooms,  stainless steel appliances, glass-door cabinets, etc.  Renovations became a huge focus over the last several years.  Kitchen and bathroom remodels top the charts. 

Mr. McGinn points out an interesting piece to why the changes by looking at the media available to day such as HGTV, reality house flipping shows, MTV Cribs, home design magazines, etc..  We get a glimpse into those features we might not have seen before and coupled in with super-stores like Home Depot and Lowes . . . we can have those things too. 

So if you want an interesting read about the Real Estate market that's not all numbers, stats, finger-pointing, and nail-biting dread . . . I recommend "House Lust".  You will definitely find something interesting, laugh, gasp, probably identify with quite a few things because you do them too, and I'm sure have fun reading.  Oh, don't look in the Real Estate section of the book store either.  You won't find it there (or shouldn't), it will be filed under "Cultural Studies". 

PS: Coming to the Ginn PGA Championship coming in March 2008?  It is a Buyer's Dream in this Market!  We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More!  Visit us at www.FlaglerResident.com/GinnChampionship for more information or email Nathan@FlaglerResident.com for an up-to-the minute list of Hot Properties!

PS1: Do you have a Luxury Property you are thinking of Selling?  Ask us how we can market YOUR property at the Ginn Championship!  We will have a booth at the Ginn Championship and can give YOUR property top exposure to GET IT SOLD!  50,000 people are expected to attend based on last year's event!  Visit us at www.FlaglerResident.com/GinnChampionship for more info

Florida will put Property Tax Reform to Vote on January 29th with Amendment 1.  The Florida Association of Realtors has worked very hard to voice its opinion and offer solutions on this matter standing behind the residents of Florida both present and future. 

To get further information on the Amendment and what this means to Florida Property owners visit http://www.yeson1florida.com/ today.

PS: Coming to the Ginn PGA Championship coming in March 2008?  It is a Buyer's Dream in this Market!  We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More!  Visit us at www.FlaglerResident.com/GinnChampionship for more information or email Nathan@FlaglerResident.com for an up-to-the minute list of Hot Properties!

PS1: Do you have a Luxury Property you are thinking of Selling?  Ask us how we can market YOUR property at the Ginn Championship!  We will have a booth at the Ginn Championship and can give YOUR property top exposure to GET IT SOLD!  50,000 people are expected to attend based on last year's event!  Visit us at www.FlaglerResident.com/GinnChampionship for more info!

"Buzz" about the Town Center Project has been circulating around Palm Coast for some time now.  Construction has begun along the 100 corridor (close by I-95) and buildings are already starting to emerge.  And the question still remains . . . when and what?  As reported by Developers Realty (one of the companies involved in this joint venture project), the current retail development will be known as "Palm Coast Landing @ Town Center" and will include:

1. Super Target
2. Ross Stores
3. TJ Maxx
4. Michael's Arts & Crafts
5. Pet Smart
6. Epic Movie Theatre
7. A fitness center, banks, and dining are also projected and have not be announced in detail at this time.

This retail portion will be known as "Palm Coast Landing @ Town Center" and opening is projected to be Mid 2008. 

Click here to view the site plan for Palm Coast Landing at Town Center 

Click here to view the aerial map of the full Town Center Conceptual Plan

It's going to be an exciting 2008 here in Palm Coast!

PS: Coming to the Ginn PGA Championship coming in March 2008?  It is a Buyer's Dream in this Market!  We serve the Luxury Home Market in gated coastal, golf, and luxury communities like Hammock Beach, Hammock Dunes, Ocean Hammock, Cinnamon Beach, The Conservatory at Hammock Beach, The Gardens at Hammock Beach, Yacht Harbor Village, Ginn Sur Mer (Bahamas), Grand Haven, Palm Coast Plantation, The Sanctuary, The Tidelands, Canopy Walk, Oceanside Luxury Condos, European Village, Palm Coast Resort, The Surf Club, and More!  Visit us at www.FlaglerResident.com/GinnChampionship for more information or email Kathy@Flaglerresident.com or Nathan@FlaglerResident.com for an up-to-the minute list of Hot Properties!

PS1: Do you have a Luxury Property you are thinking of Selling?  Ask us how we can market YOUR property at the Ginn Championship!  We will have a booth at the Ginn Championship and can give YOUR property top exposure to GET IT SOLD!  50,000 people are expected to attend based on last year's event!  Visit us at www.FlaglerResident.com/GinnChampionship for more info!