Palm Coast Real Estate Daily Market Report
Kristi’s rambling musings about today’s
Palm Coast Real Estate Market
New listings and price reductions include properties in Palm Harbor, Grand Haven, Tidelands, Saltwater Canals, Hammock Dunes. Cypress Knoll, Surf Club and Ocean Hammock. This Palm Coast Real Estate market report includes 19 new listings, 29 price reductions, and 9 just solds, including an excellent priced condo in Cinnamon Beach. 9 Properties that were pending and under contract and fell through came back on the market for sale.
Once again, there are some excellent priced homes on the market in Palm Coast and Flagler County, and the number of affordable homes continue to flood the market as short sales and bank owned foreclosures, but I am still of the opinion that most luxury homes listings in Palm Coast are coming on the market initially for more than buyers are willing to pay or that appraisers will value them at.
Price reductions continue at a rapid pace in all price ranges as inventories creep up again and pending sales have slowed since the homebuyer’s tax credit expired. If you are diligent, work with an experienced REALTOR® and make sure the REALTOR® you are working with is a Certified Distressed Property Expert (CDPE), there are some very excellent values…the best values and great deals do not remain on the market very long…so be sure to be one of the first to know when the HOT PROPERTIES for sale hit the market.
I wanted to highlight a couple of Just Sold Properties today. Recent sales are the best way to gage the market, where it is going, where it has been and to make sure you are realistic with your buying and selling expectations.
Sellers need to take notice of what other comparable properties are selling for in order to price their properties for sale. It may be hard pill to swallow, as a seller, to see what similar homes and condos are currently closing sale for…but be assured, the appraisers are using this information to value your home. If as a seller, your home is sitting on the market with little to no interest, you should be concerned, there are many buyers looking for great deals in Palm Coast right now. Sellers, if your home is not being shown and you are not receiving offers then it is either not being marketed correctly or IT IS OVERPRICED.
Buyers can use this information to make educated buying decisions and avoid overpaying for Palm Coast and Flagler County Real Estate. Working with a REALTOR® that is on top of the markets daily will also put you at an advantage. We, at The ROSS/Collins Team of Prudential Warren Real Estate, know this market like our lives depend on it…because they do.
The Palm Coast Properties that Caught My Eye Today
1200 CINNAMON BEACH WAY #1154 Palm Coast, FL 32137
Sold June 4, 2010 ~ $197,500
The luxury lifestyle community of Cinnamon Beach, located inside of the exclusive, gated Ocean Hammock Golf Club development, has been experiencing a rise is sold properties for pretty great prices. The latest of these sales is a 3 bedroom/2 bath Lake & Golf Course view unit with 1684 living square feet and a closed sale price on June 4 for $197,500. Making this unit a steal @ just $117 per square foot.
The condo was listed for sale @ $295,000…that is almost $100,000 or 44% discount off the last listed price…WOW!!!! The biggest concern to would be sellers in Cinnamon Beach…this was not listed as short sale or bank owned foreclosure, so it will be used as a benchmark for appraisal values going forward in Cinnamon Beach.
This particular Cinnamon Beach condo last sold in 2005 directly from the developer CENTEX Destination Properties, for a staggering $472,900 and has an assessed value with the Flagler County Appraisers office for $242,900.
Are you looking or HOT PROPERTY DEALS in Palm Coast and Flagler County Florida? We scan the market every day to find them…be the first to know when the HOT PROPERTIES are listed or price reduced.
The Ross/Collins Team can be reached at 386-931-5822 or email:PalmCoastMLS@gmail.com
We are are available to help you relocate to or within Northern Florida including Palm Coast, Flagler Beach, Flagler County, The Hammock and Marineland, Florida.
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Connect With Us:
PalmCoastMLS@gmail.com | phone: 386.931.5822
PRUDENTIAL WARREN REAL ESTATE. 5055 N. OCEANSHORE BLVD.
PALM COAST, FL
* Important Notice – The content relating to real estate for sale on this web site comes in part from the IDX program of the Flagler County MLS. Listing content is copyright ©2010 Flagler County MLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties for purchasing. This information was last updated as of date specified below. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.