Here’s one you missed! SOLD!!! 3568 N Oceanshore Blvd, (Hammock Moorings North) Palm Coast Florida - This BANK OWNED lot was originally listed on July 2nd, 2009 for $134,900. It SOLD in less than 90 days for $99,500 CASH.
Fantastic Location at unbetable price with Salt Water Canal frontage and only across the street from Ocean! Community has access to the Beach right across the street from gate. If you are searching for Florida at its BEST look no further! This is a beautiful home site for any boater / ocean enthusiast. Submit all Offers on AS-IS contract with proof of funds or pre-approval letter. Sold by Hawk Beach Realty.
SOLD! - A unique one-of-a-kind Mariani custom-built home located on a saltwater basin. 3 bedrooms (2 masters), 3 full baths. Some of the many upgrades and features include: See-thru fireplace between living room and den, built-in china cabinet and buffet in dining room, abundance of closets and other built-ins. Large propane tank to fuel whole-house generator and fireplace. Florida room under heat and air, handicapped accessible 18'x35' boat dock has water, electric, boat lift, security lights, sink and built-in seating area to relax and enjoy the basin view. AND MORE. Great location in excellent neighborhood. Sold by Hawk Beach Realty.
SOLD! – This was a Short Sale Lender Approval Required. Brick home w/ split floor plan, 3 bedrooms, 2 bathrooms, tiled floors throughout except bedrooms. Nice kitchen w/tiled backsplash, breakfast nook & bar counter. Large fenced back yard, very nice neighborhood. Built in 2004!!! Sold by Hawk Beach Realty.
I have started to add the number of pending home sales and the number of pending sales that are “Short Sales” to the Palm Coast/ Flagler County Real Estate Market Reports. The reason for this is to better gage the market…you see, “Short Sales” have a very high fall through rate; homes that never make it to closing. In my opinion, there seems to be a very high number of currently pending saltwater canal homes..if all these homes sell, that will be great news, they will be removed from inventory and will reduce the number of short sales we must deal with. However, if these short sale homes do not close, there is a very good chance that they will continue to move through the foreclosure system and will once again be added back into the homes for sale inventory as bank owned or lender owned properties at discounted prices at a later date.
So to take a deeper look at the pending sales data for September, it is important to note that of the 23 homes currently pending sale on the Saltwater Canals in Palm Coast, only 5 of those were actually taken pending during the month of September. Also it is a little disheartening that 18 of the 23 pending homes are “Short Sales” and may not make it to closing at all prior to being turned over to the bank and then relisted as a foreclosure.
16 New Listings were added to the Palm Coast Saltwater Canal Homes For Sale Inventory in September and 3 properties came back on the market and did not sell. With a higher number of new listings versus pendings for September, it will be critical to watch these numbers as they indicate a return to larger inventories in upcoming months. Traditionally, higher inventory of homes available for purchase signal lower sale prices as sellers compete for buyers.
Flagler Beach Saltwater Canal Homes and Intracoastal Front homes are still making a poor showing in September for closings. This again tells me that sellers need to become very aggressive on pricing in order to get their homes sold…prices still need to come down to meet with what buyers are willing to pay.
One of the biggest shockers for the month of September was the sale of a Palm Coast Saltwater Canal Home with a pool that closed in September for only $59 a square foot…with a total of 3 Palm Coast Saltwater Canal Homes closing for under $100K per square foot…..YIKES!!!!
Below is a snapshot of the current real estate market in Palm Coast & Flagler County, FL
Palm Coast – Flagler County Homes for Sale Data – September 2009
Are you ready to start your search for your future home??
Featuring everything from bank-owned foreclosed homes under $100K up to luxurious Oceanfront Homes and Condominiums...you will find everything you need when searching for Palm Coast & Flagler County Florida real estate all in one place.
Martin Collins – REALTOR –Florida Licensed in Real Estate since 2003 and over $40 Million in sales covering full range of properties, including: Short Sales, Commercial Property, High End Gated Communities, Vacant Land, Water Front Properties, Golf Communities, Rental Properties I have developed a broad customer base in both the U.S. and Internationally. My goal is to assist both buyers and sellers achieve their ideal goals in today’s diverse real estate market. For professional service and real estate representation with integrity…contact me today @ PalmCoastMLS@gmail.com
Kristi Ross - REALTOR - With over 14 years of experience in buying, selling, managing & investing in real property personally in addition to being a very active, full time REALTOR in Palm Coast/Flagler County, Florida for 8 years and also a Licensed Colorado Broker....I have learned that information is power and I am an advocate for customer empowerment.Let my expertise with data analysis, information technology, proven negotiating strategies and a portfolio of hundreds of satisfied customers and closed real estate transactions benefit you when buying or selling real estate is Palm Coast & Flagler County, FL. I am also, sometimes unfortunately during these tough times, very seasoned and experienced with bank owned foreclosures and short sales….if you are looking for a REALTOR to handle your most important transactions….contact me today….@ PalmCoastMLS@gmail.com
*All Information is gathered from the FLGMLS and is deemed reliable but not guaranteed
Palm Coast, Florida - Flagler County is situated in the eastern portion of Flagler County, which is located on the Atlantic Ocean, in the heart of Northeast Florida, equidistant between the cities of Jacksonville and Orlando. Currently, the City of Palm Coast has a population of approximately 70,000 residents and covers an area of approximately 60 square miles.
Ranked as the fastest growing city in the nation for the last 5 years, it is one of the most desirable places in the southeast to retire, own a vacation home or open a business.
Flagler Beach, Florida - Flagler County is a quaint "Old Florida" type community that is becoming one of the "hot" destinations in Florida and is part of the growing Palm Coast Area, a twenty-mile stretch of scenic coastline that is a true haven for the active individual. Visitors, as well as those looking to relocate, are discovering the area's advantages; close proximity to resort and culture centers, tranquil waterways, subtropical forests and freshwater lakes, first class golf and amenities, yet far removed from the stress and fast pace of other, larger cities.
The Hammock, Florida - is a fast growing area of Flagler County that has seen much of its changes in just the last five years. Beautifully landscaped gated developments now dot the uncrowded cinnamon colored beaches. The Hammock offers resort style living at its best, featuring the communities of Hammock Dunes, Hammock Beach Condos,Yacht Harbor Marina, Cinnamon Beach & Ocean Hammock. Tastefully designed yet affordable, the Hammock has become the first choice destination for baby boomers, retirees and vacation home owners.
Featured Communities
Hammock Dunes Homes & Hammock Dunes Condos - Exemplifying luxury oceanfront living, Hammock Dunes is renowned for its splendid choices in residences, outstanding amenities, and the private Equity Club. Among the many benefits of Club membership are access to two championship, award-winning and distinctive golf courses by two of the game's most respected designers, the masterful Rees Jones Creek Course and the legendary seaside Tom Fazio-designed Links course each with its own unique Clubhouse. Coupled with the stunning vistas of the Atlantic Ocean, the Hammock Dunes Club offers tennis and seaside croquet as well as casual and fine dining.
Ocean Hammock - is adorned by its 2.5 miles of unspoiled beachfront and its miles of nature trails in its unpretentious location just off of A1A. Ocean Hammock is comprised of over 1,000 acres surrounded by over 300 acres of preserve and is the largest gated community in Palm Coast, Florida. Within Ocean Hammock are 11 neighborhoods that consist of nearly 800 single family homesites & homes and over 750 condo and villas.
Hammock Beach - Hammock Beach covers more than 1,000 acres and commands a pristine two-mile stretch of beach that is beautiful to look at as well as play golf alongside. Membership in The Club at Hammock Beach allows you to enjoy the fitness center and spa, tennis courts, restaurants and the multi-million-dollar swim pavilion along with a full host of amenities that offer the finest of coastal living.
Tidelands- Surrounded by water on three sides, Tidelands on the Intracoastal was designed to reflect the draw of the tides-to pull people together to enjoy a life built around the water. Tidelands offers boating and wildlife enthusiasts preserved wetlands, nature trails, and approximately 11 acres of interconnected lakes and lagoons ideal for kayaking, canoeing and neighborhood gatherings. Residents enjoy nearly a mile of Intracoastal Waterway frontage and a lifestyle enhanced with resort amenities
Grand Haven - A premier residential golf community. Located on more than 1,478 acres along the Intracoastal Waterway in Palm Coast, Grand Haven offers an array of fine amenities: a Jack Nicklaus Signature golf course, a world-class country club, a gated community with large homesites and award-winning builders. This master-planned community is comprised of intimate villages linked by winding trails and tree-lined streets. Bike paths, parks and an adjacent 4,000-acre nature preserve highlight the community's natural beauty, making outdoor activities a way of life.
Grand Landings - A gated master planned community designed around the natural beauty of coastal Florida. Neighborhoods have been carefully planned to blend with the environment. Within Grand Landings, you'll find a rich assortment of amenities connected by walking trails, sidewalks and community parks. Elegance and casual living are a way of life here - in a place as active or as laid-back as you care to make it. Homes from the area's best builders are offered in a variety of styles and floor plans to fit any lifestyle.
Palm Coast Plantation - the east by the Atlantic Intracoastal Waterway and on the west by a 4,000-acre state-owned wildlife preserve, Palm Coast Plantation is the perfect community for those who not only love nature but seek an active coastal lifestyle. Lot sizes range from one-quarter to one-half acre. Lot owners are permitted to choose their own builder and can build at any time they want.
LOCAL EDUCATION
Flagler County Schools, a progressive school district on Florida's east coast and one of the top five fastest growing counties in the United States. "Raising Student Achievement Everyday, Everyway" is the primary goal. Committed to providing each and every student with the finest education. Education for a changing world to approximately 12,650 Pre-K-12 students.
Daytona Beach Community College -more than 33,000 students a year in Volusia and Flagler Counties.The school offers more than 100 associate degree and certificate programs, including a bachelors degree in supervision and management introduced in 2006.The college has satellite campuses in DeLand, Deltona, New Smyrna Beach and Palm Coast. The high-tech trade school, Advanced Technology College in Daytona Beach, is part of DBCC.
Flagler College -One of the most historic campuses in the nation,Flagler College also offers all the state-of-the-art facilities of a high-quality, forward-thinking college and enjoy access to well-maintained computer labs, wired residence halls, an 800-seat auditorium, the technologically-advanced Proctor Library, a 19-acre athletic field, and more. The College has invested more than $20 million in recent additions to the campus-with the very latest project being the construction of a brand new Student Center.
Are you ready to start your search for your future home??
Featuring everything from bank-owned foreclosed homes under $100K up to luxurious Oceanfront Homes and Condominiums...you will find everything you need when searching for Palm Coast & Flagler County Florida real estate all in one place.
Kristi Ross - REALTOR - With over 14 years of experience in buying, selling, managing & investing in real property personally in addition to being a very active, full time REALTOR in Palm Coast/Flagler County, Florida for 8 years and also a Licensed Colorado Broker....I have learned that information is power and I am an advocate for customer empowerment.Let my expertise with data analysis, information technology, proven negotiating strategies and a portfolio of hundreds of satisfied customers and closed real estate transactions benefit you when buying or selling real estate is Palm Coast & Flagler County, FL. I am also, sometimes unfortunately during these tough times, very seasoned and experienced with bank owned foreclosures and short sales….if you are looking for a REALTOR to handle your most important transactions….contact me today….@ PalmCoastMLS@gmail.com
Martin Collins – REALTOR –Florida Licensed in Real Estate since 2003 and over $40 Million in sales covering full range of properties, including: Short Sales, Commercial Property, High End Gated Communities, Vacant Land, Water Front Properties, Golf Communities, Rental Properties I have developed a broad customer base in both the U.S. and Internationally. My goal is to assist both buyers and sellers achieve their ideal goals in today’s diverse real estate market. For professional service and real estate representation with integrity…contact me today @ PalmCoastMLS@gmail.com
Interesting data regarding Saltwater Canals & Intracoastal properties for the month of August. Inventories are decreasing and choices are disappearing off the market as buyers rush in to snatch up the low end bargains on single family Saltwater Canal Homes in Palm Coast. But, Flagler Beach and Intracoastal homes in Flagler County are not participating…no properties closed sale in these two markets for the month of August. Vacant lots are still hurting and until home prices stabilize and the cost of replacement once again becomes more affordable than buying a bargain existing home…this trend will continue. So why are vacant lots, Flagler Beach Canal Homes and Intracoastal homes not selling….simple answer PRICE!!!
Although only 10 Palm Coast Saltwater Canal Homes closed sale in August, there are currently 25 that are pending sale. Yipee…wait not so fast…of those Saltwater Canal Homes pending sale, 0 are bank owned (which is great news) but a whopping 80% of them are Short Sales. This is both good news and sort of disturbing news at the same time. The good news is that short sale inventory is being taken off the market and put under contract, the bad news, many of these sales will never make it to closing.
Below is a snapshot of the current real estate market in Palm Coast & Flagler County, FL
Palm Coast – Flagler County Homes for Sale Data – August 2009
Recently Sold Saltwater Canal Homes in Palm Coast, FL
Address
Price
Beds
Baths
LivingSqFt
Pool
Type Of Sale
YearBuilt
PPerSqFt
19COOL WATER CT
$240,000
3
2
2090
Yes
Short Sale
1989
$115
4FLORENCE COURT
$225,000
3
2
1800
No
1986
$125
10 S CLAYMONT CT
$180,000
3
2
1376
Yes
1982
$131
24CROSSBOW CT
$330,000
3
2
2484
Yes
1986
$133
19COLONY CT
$295,000
3
2
2175
Yes
1984
$136
8CORNING CT
$180,000
2
2
1300
Yes
1981
$138
10CORNING COURT
$350,000
3
3
2514
Yes
Short Sale
1995
$139
101COVINGTON LN
$415,900
4
2
2661
Yes
2004
$156
24CLARENDON CT S
$335,000
3
2
2050
Yes
1996
$163
3VILLAGE PT
$725,000
3
2
3059
Yes
2004
$237
37ISLAND ESTATES PKWY
$1,500,000
4
4
5445
Yes
Lender Owned
2007
$275
Are you ready to start your search for your future home??
Featuring everything from bank-owned foreclosed homes under $100K up to luxurious Oceanfront Homes and Condominiums...you will find everything you need when searching for Palm Coast & Flagler County Florida real estate all in one place.
Kristi Ross - REALTOR - With over 14 years of experience in buying, selling, managing & investing in real property personally in addition to being a very active, full time REALTOR in Palm Coast/Flagler County, Florida for 8 years and also a Licensed Colorado Broker....I have learned that information is power and I am an advocate for customer empowerment.Let my expertise with data analysis, information technology, proven negotiating strategies and a portfolio of hundreds of satisfied customers and closed real estate transactions benefit you when buying or selling real estate is Palm Coast & Flagler County, FL. I am also, sometimes unfortunately during these tough times, very seasoned and experienced with bank owned foreclosures and short sales….if you are looking for a REALTOR to handle your most important transactions….contact me today….@ PalmCoastMLS@gmail.com
Martin Collins – REALTOR –Florida Licensed in Real Estate since 2003 and over $40 Million in sales covering full range of properties, including: Short Sales, Commercial Property, High End Gated Communities, Vacant Land, Water Front Properties, Golf Communities, Rental Properties I have developed a broad customer base in both the U.S. and Internationally. My goal is to assist both buyers and sellers achieve their ideal goals in today’s diverse real estate market. For professional service and real estate representation with integrity…contact me today @ PalmCoastMLS@gmail.com
*All Information is gathered from the FLGMLS and is deemed reliable but not guaranteed
Are you ready to start your search for your future home??
Featuring everything from bank-owned foreclosed homes under $100K up to luxurious Oceanfront Homes and Condominiums...you will find everything you need when searching for Palm Coast & Flagler County Florida real estate all in one place.
Kristi Ross - REALTOR - With over 14 years of experience in buying, selling, managing & investing in real property personally in addition to being a very active, full time REALTOR in Palm Coast/Flagler County, Florida for 8 years and also a Licensed Colorado Broker....I have learned that information is power and I am an advocate for customer empowerment.Let my expertise with data analysis, information technology, proven negotiating strategies and a portfolio of hundreds of satisfied customers and closed real estate transactions benefit you when buying or selling real estate is Palm Coast & Flagler County, FL. I am also, sometimes unfortunately during these tough times, very seasoned and experienced with bank owned foreclosures and short sales….if you are looking for a REALTOR to handle your most important transactions….contact me today….@ PalmCoastMLS@gmail.com
Martin Collins – REALTOR –Florida Licensed in Real Estate since 2003 and over $40 Million in sales covering full range of properties, including: Short Sales, Commercial Property, High End Gated Communities, Vacant Land, Water Front Properties, Golf Communities, Rental Properties I have developed a broad customer base in both the U.S. and Internationally. My goal is to assist both buyers and sellers achieve their ideal goals in today’s diverse real estate market. For professional service and real estate representation with integrity…contact me today @ PalmCoastMLS@gmail.com
*All Information is gathered from the FLGMLS and is deemed reliable but not guaranteed
WOW!!!! This gives new meaning to the phrase “A picture is worth a thousand words” . This is a pretty scary picture for anyone who owns a home in Palm Coast, FL. But, on the flip side….. it is a very pretty picture for buyers looking for their Florida Dream Home.
More good news for Palm Coast – Flagler County Real Estate buyers who waited to dip their toes back into the real estate market, according to an article just release by CNNMoney.com -
“Homes continue to be more affordable than they have been in nearly two decades.
The typical American family, making the nation's median income of $64,000 a year, could afford to buy 72.3% of all homes sold in the United States during the second quarter”
Are you ready to start your search for your future home??
Featuring everything from bank-owned foreclosed homes under $100K up to luxurious Oceanfront Homes and Condominiums...you will find everything you need when searching for Palm Coast & Flagler County Florida real estate all in one place.
Kristi Ross - REALTOR - With over 14 years of experience in buying, selling, managing & investing in real property personally in addition to being a very active, full time REALTOR in Palm Coast/Flagler County, Florida for 8 years and also a Licensed Colorado Broker....I have learned that information is power and I am an advocate for customer empowerment.Let my expertise with data analysis, information technology, proven negotiating strategies and a portfolio of hundreds of satisfied customers and closed real estate transactions benefit you when buying or selling real estate is Palm Coast & Flagler County, FL. I am also, sometimes unfortunately during these tough times, very seasoned and experienced with bank owned foreclosures and short sales….if you are looking for a REALTOR to handle your most important transactions….contact me today….@ PalmCoastMLS@gmail.com
Martin Collins – REALTOR –Florida Licensed in Real Estate since 2003 and over $40 Million in sales covering full range of properties, including: Short Sales, Commercial Property, High End Gated Communities, Vacant Land, Water Front Properties, Golf Communities, Rental Properties I have developed a broad customer base in both the U.S. and Internationally. My goal is to assist both buyers and sellers achieve their ideal goals in today’s diverse real estate market. For professional service and real estate representation with integrity…contact me today @ PalmCoastMLS@gmail.com
*Graph Courtesy of Zillow.com. This graph is based off data collected on the Palm Coast, Florida Market.
I am re-blogging this very interesting article about Mortgage Statistics and what we can expect going forward. As an advocate for consumer empowerment in Real Estate...I feel that information is the key to home buyers and sellers making educated decisions. Thank you to Tim & Julie for taking the time to gather this data and share it with us all.
Please feel free to share your opinions and leave comments.
Breaking News: Negative Equity Data from First American CoreLogic shows that Nearly One-Third Of All Mortgages Are Underwater.
Here are the bullet points….
• More than 15.2 million U.S. mortgages, or 32.2 percent of all mortgaged properties, were in negative equity position as of June 30, 2009 according to newly released data from First American CoreLogic. As of June 2009, there were an additional 2.5 million mortgaged properties that were approaching negative equity. Negative equity and near negative equity mortgages combined account for nearly 38 percent of all residential properties with a mortgage nationwide.
• The aggregate property value for loans in a negative equity position was $3.4 trillion, which represents the total property value at risk of default. In California, the aggregate value of homes that are in negative equity was $969 billion, followed by Florida ($432 billion), New Jersey ($146 billion), Illinois ($146 billion) and Arizona ($140 billion). Los Angeles had over $310 billion in aggregate property value in a negative equity position, followed by New York ($183 billion), Miami ($152 billion), Washington, DC ($149 billion) and Chicago ($134 billion).
• The distribution of negative equity is heavily skewed to a small number of states as three states account for roughly half of all mortgage borrowers in a negative equity position. Nevada (66 percent) had the highest percentage with nearly two?thirds of mortgage borrowers in a negative equity position. In Arizona (51 percent) and Florida (49 percent), half of all mortgage borrowers were in a negative equity position. Michigan (48 percent) and California (42 percent) round out the top five states.
There are some interesting tables and graphs in the article that inquiring minds are investigating. Here are some partial alphabetical lists.
Negative Equity Share
Property Values and Loan-To-Equity Ratios
Nevada, not shown has a near-negative equity share of 68.9% and a Loan-To-Value ratio of an amazing 115%!
Mortgages – Select States
California has $2.4 trillion in mortgages debt. 42.0% of the properties have negative equity.
Florida has $923 billion in mortgage debt. 49.4% of the properties have negative equity.
Illinois has $447 billion in mortgage debt. 29.4% of the properties have negative equity.
Arizona has $298 billion in mortgage debt. 51.0% of the properties have negative equity.
Nevada has $149 billion in mortgage debt. 65.6% of the properties have negative equity.
Nationwide there is $10.1 trillion in mortgage debt. 32.2% of the properties have negative equity.37.6% of the properties have “near-negative” equity.
California alone has $2.4 trillion in mortgages debt. 42.0% of the properties have negative equity! Nearly half of all home owners (with Mortgages) are upside down in their homes!
Nationwide there is $10.1 trillion in mortgage debt. 32.2% of the properties have negative equity, another 5.4% are nearly underwater. Don’t believe the green-shoots story…we are no where near the end of this real estate correction.
If underwater sellers want to sell they have 3 choices:
1) Foreclosure.
2) Bringing cash to the closing to make up the difference between what is owed vs what the home sells for.
When will the housing markets recover to peak 2006 values? Experts are expecting the recovery to take 10+ years. Read this story here.
We have been warning HREU students for over a year that the biggest wave of foreclosures would come in late 2009…early 2010… And it appears that we were correct.
Why will the foreclosures (and REOs) hit harder now than ever?
The number of people underwater in their mortgages is increasing NOT decreasing.
The stigma of a foreclosure is all but gone. Now if you lose your home to a foreclosure you are called a ‘foreclosure victim’.
The reported nationwide unemployment figure is 9.4% with the real unemployment above 16% and rising.
Wages are falling.
The jobs market will suffer losses for another year.
Notices of Default and Trustee Sales are high and rising.
People now see ‘walking away’ from their homes as a prudent financial move vs. being irresponsible.
Agents, what do you think....? What will happen to how people think about real estate...owning a home...if 50% of all homeowners (with a mortgage) are upside down? Share your thought, post your comments:
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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