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Flagler County December Sales Slide, But Year Finishes Up

2019-01-27T07:40:05Z

I started tracking the area’s real estate performance monthly since 2009, and this is the first time in the past nine years that December had a lower number of sales compared to November. December came in about 17% below December 2017. Interestingly enough this year had the highest performing November with 196 residential home sales which was about 28% above November 2017. November is typically one of the lowest months of each year for sales. Essentially the activity shifted which has occurred before based upon various economic or legislation factors.

All in all 2018 was another up year for the area. The number of residential home sales increased about 7% compared to 2017 coming in at about 2,488. This was about an 11% gain compared to 2016. Median home price rose by about 5% versus 2017. And inventories continue to remain low currently around 850 residential homes listed for sale..

Cash purchases accounted for about 34% of closings this year. The decline in cash purchases has been the trend over the past few years as lending has opened up and interest rates remain low.

Check out the latest market statistics here.

So what should we expect in 2019 for the area? That’s tough to say. Inventories remain low and demand does not seem to be slowing in the area which is a recipe that protects prices from dropping. But we could see a slight downturn in activity this year as prices have risen significantly over the past few years.

What should sellers expect?

Sellers have been fortunate over the past few years to be in a good position with lower levels of competition and ever increasing demand. But this will be a year to keep a close eye on activity and not be hesitant to consider price reductions. We are seeing many buyers being priced out of purchasing and others maybe sitting out while waiting to see if prices drop. Demand may slow this year and inventories may rise. The conditions and current trends don’t indicate a rapid decline in my opinion, but we could see some corrections occur in the local market.

What should buyers expect?

If you are serious about purchasing this is the time to have your financing or cash in order and not wait around to make a decision. That house you liked could be easily gone if you wait around to make a decision or try to negotiate too aggressively. The average sold to list price this past year was about 97%. Yes, you should check to see if the property is reasonably priced and be prepared to make a smart offer. Aggressive offers in this market right now will typically just shut down dialogue and the seller will move on.

What questions do you have?

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 1/26/2019 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

2017 Was A Positive Year For Flagler County Real Estate

2018-01-20T10:05:18Z

2017 started off on the lighter side for local housing sales, but jumped back to life in March. Other than four months every month say decent positive gain over the same period last year. Median home price continues to rise rise as well. Let’s take a look at some key areas.

Number of Sales

With inventory levels remaining low and median sales prices continuing on an upward trend, demand remained strong for the year. The area closed out with 2,328 residential house sales which was about a 4% increase over 2016. Inventory continues to remain low and currently is slightly under 900 residential houses for sale in the area.

Median Sales Price

Price in the area continues to see strong gains. With inventory remaining low and demand continuing to grow we should see this trend continue. Median sales price for the 2,328 residential house sales that closed came in around $217,000 which is around a 9% increase over 2016.

Outlook For 2018

There are no indicators at this showing a dramatic change will occur in in the trends we have been seeing in the area. Demand continues to grow, and interest rates although slightly increasing are still very much on the low side. Selection remains light due to the low inventory which has spurred building in the area which is very positive. We are seeing construction in almost every community in the area. If you need assistance with guidance on building a new home in the area I am here to help and feel free to contact me today.

Check Out Detailed Market Stats

*Information based upon the Flagler County Association of Realtors MLS as of 1/20/2018 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Palm Coast & Flagler Home Sales Strong In March & April, But Dip In May

2017-06-07T04:15:48Z

Home sales in Flagler County saw decent gains in regards to the number of sales over 2016 in both March & April coming in at about +16% & +14% respectively. This was good news especially since home sales during those months were down in 2016 vs 2015. May of this year however is a slightly different story. The area had roughly a 10% drop in the number of sales vs last year according to preliminary numbers. Median price remained strong coming in around $212,750 for May and was roughly 3% above the year before for the same period.

What’s the outlook for the rest of the year?

The market in the area overall is very healthy. A couple of points that indicate that:

Demand remains strong. Thru May the number of sales overall are up about 1% over the same period last year, and median price up about 9%
Distressed sales (foreclosures and short sales) are almost non-existent, and those that have sold have moved rather quickly
Inventory levels remain low, but building can be seen taking place throughout the county

May’s performance, however, does raise some flags in regards to performance for the remainder of the year. May is typically one of the top months for quantity of sales in the area. The drop could indicate a slowing for the remainder of the year.

Price increases are putting pressure on demand, and it’s important to look at the trends. The chart below shows the history of the number of home sales and median for Florida from 1994 thru 2016. As you’ll see there is a tipping point with spikes in price where demand naturally slows. As you can see, demand slowed in 2016 for the first time since median price began recovering around 2011. On a positive note, demand is at is highest level historically!

* Statistical data courtesy the Florida Association of Realtors

CHECK OUT THE LATEST MARKET STATS

Seller Advice

Be realistic about selling price. As I’ve said before . . . it is often very easy to fall into the trap of times when prices rise quickly to price to high. Speculating over-pricing is almost always a major contributor to a property remaining on the market for a lengthy period of time which can be a costly situation. Builds have increased and inventories still remain low but have increased slightly which means buyers have choice and are being more selective.

FIND OUT HOW MUCH YOUR HOME IS WORTH

Buyer Advice

Keep in mind that interest rates remain low and low inventories, it means you should be ready to act fast. If you are considering building, get all of the information together to weigh both the purchase of a new build versus an existing home (i.e. time to close, closing costs, etc.). It is a time to be ready and have your finances sured-up as other buyers are also motivated. Waiting could be costly in terms of home price and interest rates if both increase.

START YOUR HOME SEARCH

Disclaimer: Information based upon the Flagler County Association of Realtors MLS and the Florida Association of Realtors website as of 6/4/2017 for Residential Houses. Information may be deemed reliable, but is not guaranteed.

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Flagler County Market: Sales Down, Median Price Up

2016-09-04T10:55:23Z

I know, it’s always kind of unnerving to hear “sales are down”. The truth is that it is not anything very alarming when taking the other factors into account. The truth is that the housing market in Flagler County remains very healthy and on the right track. Let ‘s look at the key areas.

Number of Home Sales

For the most part, the number of sales in 2016 compared to 2015 have lagged slightly behind except for May when sales surged and came in about 15% above May 2015. So far, about 1,313 homes have sold through July of this year which is down about 6% compared to the same period in 2015. But that is about 5% above the same period in 2014. Inventory also remains very low for the area with only around 782 homes listed for sale in the County, and less than 600 in Palm Coast. Foreclosures and Short Sales have become virtually non existent in the area.

Median Price

Median prices began an upward trend a couple of years ago and are continuing on that path again this year. For home sales through July of this year, the median price is around $194,000. This is up about 18% compared to the same period in 2015 and about 25% compared to 2014. This is a very positive sign for the area especially with the number of sales holding on to around the same level.

All in all, Flagler County remains a healthy market. The number of sales dropping is notable, but is also understandable with the level of inventory available for sale. Demand is remains at a good level with an average days on the market so far this year at around 104 days. We typically see lower number of sales in the fall with November and December picking up slightly.

Click here for detailed market stats

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 8/14/2016 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Matanzas Woods Market Update

2015-07-12T10:45:20Z

As a homeowner for 11 years now inMatanzas Woods, I get asked what is going on in the market quite often. Since the closure of the Matanzas Golf Course around 2008, we have all seen an impact on values coupled with the drop in the market since that time. There is a lot of speculation surrounding the neighborhood real estate market and the real effects of the closed golf course property on values. The area has been getting more attention since late 2013 when Jim Cullis of Grand Haven Realty was contemplating the purchase of the property with intentions to work with the City of Palm Coast for the property to be used as a linear park and build a some homes in the northeast corner of the property. An idea that I still feel was a great opportunity for us as owners to recoup values even more in a market that is anything but slow or declining in recent years. Unfortunately, Cullis pulled out of the sale seemingly due to a few residents who insisted this idea would not improve the area and created the perception for Cullis that the plan would not be worth the effort. I’ll get to recent updates on the developments with the property itself in a moment. First, let’s take a look at the actual stats for the neighborhood through June of this year*.

There are currently 17 residential houses listed for sale with a median sales price of $209,900 and average days on the market of 74.
Through June of this year, 40 residential house have closed (3 of which were my listings) with a median price of $169,750 and average days on the market of 76.
In terms of distressed properties, there are no active foreclosure (REO & Government-Owned) listings and only 2 active short sale listings. There have been 12 foreclosure sales through June with a median sales price of $140,088 and average days on the market of 53. There have been 2 sales of short sale listings this year. This is obviously contrary to the rumors circulating in the area of a high number of distressed sales.

Tall grass in the background is the Matanzas Golf Course property

The question on everyone’s mind has been, how much has the abandoned golf course property effecting the Matanzas Woods market? For that answer, let’s take a look at Cypress Knoll that has the popular Cypress Golf Course and is historically a similar type of neighborhood in terms of being attractive to buyers (Pine Lakes, although it has an open Golf Course, is much larger than Matanzas Woods to compare). Through June of this year, Cypress Knoll has had 38 closings with a median sales price of $212,940 and average days on the market of 74. Although Matanzas Woods is on par (no pun intended) and remaining competitive in regards to the number of sales, the price buyers are willing to pay for the area is obviously lower.

Going back to the first paragraph and why I personally think the park idea was a great opportunity for the neighborhood, it would have brought a great usable amenity to all to enjoy while preserving the 2 biggest features that homeowners want with a golf course property . . . green view and the sense of privacy. Take into account that Matanzas Woods is located in close proximity to 3 great schools for all stages of education (elementary, middle, and high school) and combine that with a large parcel of property that puts residents in close proximity to a variety of outdoor activity, you keep the property protected from development on fairways, leave the opportunity for the property to possibly be a golf course again in the future, and you now have a neighborhood that becomes extremely competitive and attractive in Palm Coast. Granted, I would love to see the property reopen as a golf course, but after 7 years it’s clear that is highly unlikely of happening in the near future or if ever. So it is hard to understand why anyone could not see the benefits of the property being converted to a linear park.

So what is going on with the Matanzas golf course property since Jim Cullis abandoned the sale in late 2013/early 2014? Here’s a recap:

Last fall an LLC consisting of 2 owners out of Jacksonville, Group Golf of Palm Coast, purchased the property from The Golf Group of Palm Coast, LLC. (Yes, the names are correct)
The purchase was for $266,800 total with $100,000 down and about $166,800 in a balloon mortgage due this past December (see the article on Gotoby.com for more information)
When the Group Golf of Palm Coast, LLC did not make the balloon payment in December and had become past due; Matanzas land, LLC (a Michael Chuimento company with Jim Cullis named as Title Manager) purchased the mortgage note.
Matanzas Land, LLC began foreclosure proceedings on the Group Golf of Palm Coast, LLC and the courts issued a noticed of default this past June.
Through the foreclosure proceedings, the Group Golf of Palm Coast owners indicated that they had never intended to open the property as a golf course and were merely looking to try and flip the property for a profit expecting to be able to resell the property in a short period of time. That did not happen and they defaulted on the mortgage.
The next steps remains to be seen as typically the property will go up for auction or Matanzas Land, LLC may gain ownership.
The property has not been maintained and fairways are severely overgrown.
Visit the Flagler Clerk of Circuit Court website to access the court records regarding the foreclosure proceedings and simply search “Group Golf” on the search screen.

So what should we expect? I am glad to see Mr. Cullis still active and involved and hopefully his original idea will come back around and take hold after residents have gotten a pretty good idea of what can happen when certain entities come into play. That remains to be seen at this point and I’ll be keeping an eye out for what comes next.

What do you think? What have you heard? What questions do you have?

*Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 7/11/2015 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Market Watch: Palm Coast/Flagler County Market Soaring In 2015

2015-07-12T10:13:22Z

There should be no doubt at this point that the Palm Coast & Flagler County is not only recovering, but is more in the recovered phase. Although this year started off a little light compared to the first two month of 2014, the area is up 10% with 1,144 residential house sales through June compared to the same period for 2014. June was another strong month with 221 residential house closings which was up 18% compared to June 2014. Median sales price in June was also up slightly compared to June of last year. Buyers who are serious about finding a home in the area should not waste any time as the pace at which homes are selling is around 87 days on the market for all of Flagler County and around 78 for Palm Coast.

The number of existing homes for sale (aka “inventory”) in the area also remains low with 902 for all of Flagler County and 631 for Palm Coast. With short sales and foreclosures making up a very small percentage of the market today, buyers are finding it to be a very competitive market. With cash sales dropping to around 44% and buyers taking advantage of great interest rates and more credit opening up, sellers should not overlook pricing right the first time in these conditions. A property priced too high can risk not appraising within that price range which often times leads to a lost deal and the property now going back on the market with a much longer than necessary number of days on the market.

For more detailed more reports of the area, click here to visit my Market Reports page.

*Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 7/11/2015 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Flagler County/Palm Coast Market Takes Off In March

2015-04-19T07:59:04Z

2015 started off slightly down with January and February both 4% under the number of sales compared to 2014, but the area rallied last month and took off. March had 202 residential houses close which was around a 27% gain compared to March 2014, and bringing the total number of sales at around +9% compared to the same period last year. It’s always difficult to put a finger on just one contributor to these types of fluctuations, but I personally think the travel barriers caused by weather in many other part of the country this winter was a significant contributor.

Interestingly enough cash was not “king” this year. Among the various pay types for residential house sales in the area cash, which is typically over 50% in recent years, dropped to around 47% . This can be attributed to improving consumer credit scores and lending becoming more accessible to more who want to take advantage of great interest rates.

Outlook For Sellers

Sellers recently have seen themselves with more of an upper-hand with inventories remaining low and demand constantly increasing, but sellers need to be very careful and especially when it comes to pricing smart (i.e. based on comparable sales). The average days on the market for sales so far this year has dropped to around 85 which is about a 12% drop compared to the same period last year. More houses selling, less houses available for sale, and houses selling quickly might seem like all of the ingredients to price higher right? Wrong. Price should never be taken lightly and should never be based upon pure speculation. There is far too much risk and often cost sellers a great deal in the long run. The bottom line is price it right the first time.

Outlook For Buyers

As many buyers have found out in the area over the last few years, playing around when it comes to offers often costs them the houses they had their hearts set on. A few years back with homes staying on the market longer and less competition with other buyers for less homes for sale, buyers had the luxury of time. Today it’s important as ever to not only move quickly on homes that meet your wants and needs, but to come with smart offers (i.e. based on the comparables). The practice of “low balling” initial offers is what often shuts down negotiations, wastes valuable time, and allows another buyer to come in and bring an acceptable offer. Making smart offers the first time may not mean that it is accepted by the seller, but it is the best strategy to get good dialogue started in negotiations and buyers and seller to come to an agreed upon price quickly. So just as a seller should price right the first time for a successful sale, buyers should offer the right price the first time for a successful negotiation and purchase.

The area continues to see a great deal of positives for with the local real estate market. One of the biggest highlights is that short sale and foreclosed properties have become virtually non-existent. Taking into account all of the other statistics, we should have a very interesting and exciting summer season in the area.

For more local market statistics visit my Market Report page.

What questions do you have?

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 4/18/2015 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Palm Coast & Flagler County Finish Strong In 2014, What To Expect For Local Real Estate In 2015

2015-01-17T07:19:08Z

This past December finished up as one of the strongest for real estate home sales in recent years with 194 residential house sale closings. This was about 15% higher than the December 2013 and the highest number of closings in a December going back to 2009. For the year, the area saw about a 2% gain in the number of residential home sales coming in at 2,169 for 2014 compared to 2,124 for 2013.

Median home sales price also showed positive gains coming in at about $155,000 for 2014 compared to $145,000 for 2013. A large part of the steady increases in median home sale prices has been the decline in the contribution of distressed sales for the area. For example ‘Short Sales’, which once were about 35% of all sales in recent years, were only about 6% in 2014 at around 118. REO & Government Owned came in higher with 539 closings which was about 25% of all closings. Some may think the REO & Government Owned number as being concerning, but taking into account that the amount of inventory remains very low (presently at only 68 for sale) and these properties tend to move very quickly (average days on the market for 2014 was only 38 days).

Inventory continues to remain low for the area. In recent years past, the number of homes for sale at any given point was typically around 2,000 for the area. That number has declined to be just average under 1,000 over the last couple years. We presently have 901 residential houses for sale in the area. The obvious increase in demand for the area is shown in the very positive decline in the average days on the market. The average number of days for 2014 was 87 and was averaging around double that figure in recent years mostly driven by ‘short sales’ which typically have much longer periods on the market due to the lengthy closing process associated with them.

Sellers

So what should sellers expect in 2015? The truth is that it is a great time to sell, but it does not mean sellers do not have the upper-hand always. There is still a lot of competition especially with the option to build. There are plenty of places left to build in the area and builders have been very competitive compared to existing homes and features. The two aspects of building versus existing that often give existing homes an advantage is 1) the length of time to close, and 2) the amount of money needed upfront for new builds.

The bottom line to successful selling is to, front and foremost, price the property right the first time. That means basing the property sales price on recent comparable sales. Price is often the most difficult area for sellers because they often times get emotional and give in to what they “think buyers” will or will not do. One of the biggest mistakes when it comes to price is the idea of starting too high “just to see”. I can never stress enough how risky over pricing is and how costly it can really be to a seller. You first risk the property being on the market far longer than necessary which reduces negotiating power and often times results in tens of thousands less than what the seller could have gotten for the property if priced right initially. The second issue is with appraisals. Using comparable sales is meant to take into account a similar type of process that a licensed appraiser will use and therefore being within a lender appraiser valuation if a buyer comes with financing. In the case of over-pricing a property for sale, even if an offer with financing comes in near the listing price if it doesn’t appraise at or above that negotiated price then the property will not be able to close at that price.

In 2015, based up the trending data, sellers who want to sell within the average of 90 days will need to:

Price the property right the first time. Click here to get a FREE valuation for your home.
Be ready to sell. This means having the home presentable, repairs addressed, and have a moving plan prior to putting the property on the market.

Buyers

So what should buyers expect in 2015? With interest rates and prices in great places, it is a great time to buy. The biggest hurdle I often find for buyers is the misconception that every seller is desperate. Again, we are seeing houses sell with 90 days on average and inventory remains low. Not being open to making reasonable offers based upon the data can lead to a missed opportunity on the property you really wanted. The worst thing any buyer can do when their offer is rejected is to think they will come back to the property in a few weeks or months. The truth in our area is that the property often times is not available any longer in just few days.

In 2015, buyers who want to get the best possible property will want to:

Know exactly how much you can afford and have your financing plans together prior to searching for properties.
Know the features you must have in the property and prioritize them. Getting the best possible property may take some give-and-take and therefore knowing what you can and can not do with out prior to shopping will give you a far better selection.
Get set up with property alerts that meet your specific criteria and be ready to take a look if the property interests you. Click here to set up a FREE Home Search Manager account today.
Make reasonable offers based upon the data. Looking at comparable sales to gauge whether the listing price is reasonable is the best starting point and then take others factors into account such as needed repairs, updates, etc.

2015 is poised to be another positive year for the area and it is truly exciting to see all of the great things that have been happening with real estate in the area. Make sure tocontact me if you have any questions, and click here for a full breakdown of the market statistics for the area.

* Disclaimer: Information based upon the Flagler County Association of Realtors MLS for Residential Houses as of 1/3/2015. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Flagler County & Palm Coast Market Update Through May 2014

2014-06-16T22:39:57Z

After a somewhat weaker March this year, residential home sales picked up in April and May coming in almost “flat” compared to last year’s sales. Visit my “Market reports” section for more stats. Let’s take a look at some highlights:

Sales

There were about 199 residential houses sold in May 2014 which is about 2% higher compared to the 196 for May 2013.

The total number of sales still remain down about 4% with 843 residential houses sold January through May in 2014 compared to the same period in 2013.

Values

Most news has been speaking to values recovering and that is very true. Sellers like this news, but buyers aren’t typically so happy. We’ve actually seen values recovering for some time in the area. We’ve seen a nice gain in median sales price so far this year coming in at about $151, 824 which is up about 12% compared to the $135,000 the same period last year.

The biggest question here for buyers is often “Should I wait?” And my answer is “No!” Not because I want to be the “cheerleader” for more sales, but because the data is showing that this trend is not going to stop. Inventory remains lower, demand continues to grow, and that only means that prices are going to continue to grow. Waiting just doesn’t make sense if you are thinking that prices are going to drop.

Financing Types

Cash took a step backwards this year. For the past few years sales with cash have been between 55% to almost 60%, but this year cash sales are coming in around 49%. Mortgages are still very attractive with interest rates continuing to hover around 4.5% for a 30-year fixed loan.

For more in-depth stats and breakdowns by area (Flagler County and just Palm Coast) and sales types (i.e. Foreclosures, Short Sales, etc.) visit my Market Reports section at PalmCoastHomeShow.com.

What questions do you have about the local market?

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 6/15/2014 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Mid-April Flagler County Market Update

2014-04-12T23:01:57Z

As I said last week, March residential house sales in Flagler County saw a dip in performance compared to March of 2013, when the number of sales this year came in at -22%. April thus far this year has had 62 closings for residential houses in Flagler County bringing the total to 498 year-to-date.

April 2014 Residential House Sales (as of April 13, 2014)

Number: 62
Lowest: $46,700
Highest: $900,000
Average: $193,367
Median: $144,600

The top 3 house closings for this month as April 13, 2014 are:

3349 Oceanshore Blvd at $900,000
19 Waterview Drive S. at $619,000
262 Yacht Harbor Dr at $530,000

The top 3 house sales for 2014 so far (as of April 13, 2014):

21 Hammock Beach Way $1,553,500
160 Island Estates Parkway at $1,530,000
24 Ocean Ridge Blvd at $1,200,000

We have seen a slight bump in inventory with 1,026 active houses for sale in all of Flagler County.

#1 Tip for Sellers in Today’s Market:

Price it right the first time. Owners sometimes have a tendency to get caught up in “seller market” and “buyer market” terms and then they begin speculating (aka the worst thing to do in real estate). You’ll know you are speculating when you find yourself saying “I think they . . . “. The reality is that existing houses are not the only competition. Buyers are building again, and local new builds have seen a huge bump. So, not only are sellers competing against other existing houses for sale; they are also competing against new build options.

The most common scenario is pricing too high and “being firm”. Pricing too high often leads to decreased “foot traffic”, “lowball” offers that are rejected, and more time on the market. When properties stay on the market too long, sellers typically begin dropping the price and over longer periods often get less than what they could have gotten if they had priced it correctly the first time.

Pricing right the first time is best done with a Comparable Market Analysis which estimates a selling price based upon similar properties that have sold with adjustments for slight differences. The goal is to come as close as possible to what the property might appraise at during a sale by a licensed appraiser. And by doing this the property now comes up in online for buyer searches with comparable properties allowing more opportunity for great features to better stand out. Pricing right the first time coupled with great advertising and great presentation will generate the traffic early and typically bring better quality offers which equates to quicker sales at better selling price.

Have a great week!

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 4/13/2014 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Flagler County March Home Sales Dip Compared to 2013

2014-04-06T08:52:32Z

After a strong start for existing home sales in January and February, activity in March did not continue on the same trend in comparison to 2013 with the number of sales dropping about 22% and coming in at 157 compared to 199 in 2013. But sales were slightly above February which had 152 residential house closings. This brings the number of residential house sales through March down about 7% compared to the same period last year. On a more positive note new home builds are up about 29% for the area in the 1st quarter. With existing home sales and new builds picking up in the area we stand to see another strong year in the area.

Inventory picked up slightly with 1024 houses on the market in the County which is one of the few times that inventory levels have broken the 1,000 mark over the last couple of years. Most notably in the inventory number is the increase in the number of foreclosure (“Government Owned” and “REO”) houses available for sale with 101 active right now. Cash is still dominant in the area coming in at around 50% of all residential house sale transactions so far this year.

We have seen a shift over the last 2 years to more of a “seller’s market” with a lot less inventory and ever-increasing demand. This has pushed prices slightly higher. Buyers have found themselves with a little less leverage in negotiations and offers. ”Low ball” offers are typically not a good strategy today if it’s a property the buyer truly wants. Average days on the market are coming in around 92 days now and foreclosures about half of that.

Click here for a more detailed market statistics.

What questions do you have about the local market?

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 4/6/2014 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Palm Coast & Flagler County Market 2013 Year in Review

2013-12-28T06:57:56Z

As we wind down 2013, Flagler County & Palm Coast once again saw another positive year. With just a few days left in 2013, the area is already finishing the year at least 2% above 2012 in terms of the number of residential house sales with 2,066. Some other highlights for the year are:

November came in very strong this year with 176 residential house sale closed which was 22% above November last year
July was the highest month in terms of the number of sales with 223 and was 17% above July 2012
57% of transactions were cash in the Flagler County which is in line with the last couple of years transactions
Median Sales price is around $144,300 through 12/28/2013 and this figure has been showing positive gains
Short Sales continue to be almost non-existent coming in at only 57 of the 945 active houses for sale in Flagler County
Inventory remains on the low side with only 945 houses active for sale as of 12/28/2013

With November and December being pretty active months once again in the area, I am positive we should see another strong January for the area. January was typically the month with the least activity is the area, but 2011 and 2012 saw significant increases in sales andsellers shoul d be prepared for activity.

Visit the Market Reports page for all of the area stats

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 12/28/2013 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Matanzas Woods Residents Split On Course, & Why A Park Is A Great Idea

2013-11-30T10:24:41Z

Guest author, Brad West, is my husband and assists me with my real estate business. He is the designer of PalmCoastHomeShow.com, is licensed in real estate (inactive at this time due to another career), and works in online marketing and communications. He writes about his thoughts on the current meetings and discussions taking place about the Matanzas Woods golf course and the neighborhood’s future.

Matanzas Woods recently had “exploratory” meetings with Jim Cullis of Grand Haven Properties for him to gain a feel for the community’s feelings towards an alternative use (a regional park) for the closed Matanzas Golf Course. The plan, as Mr. Cullis explained, would entail purchasing the land and donating it back to the City for conversion to a regional park. If Mr. Cullis and his company do not feel they can build consensus around the idea and other alternative ideas, they may not proceed with the contract to purchase they are currently engaged in.

One group sprung up immediately with resistance and feels the only means to restore property values and the neighborhood is by re-opening the golf course property. I do not agree, and here is why.

The current owner, the Golf Group of Palm Coast (owners of the Cypress and Pine Courses), have indicated they have no intention of ever re-opening the course at this time. Click here to read the News Journal article
It’s estimated that it would take $5+ million to restore the course just to re-open.
Palm Coast and Flagler County are home to 7 existing courses. All of which have seen declines, and the City-owned Palm Harbor course has lost thousands of dollars over the last few years. It is NOT an economy-thing. It’s an over-saturated market.
To not consider alternative uses for the property will keep the property in it’s current deteriorating state and ensure property values to continue to be driven down unnecessarily.

There are two main reasons which drive the value of golf course properties up – view and privacy (no homes in one’s back yard). A regional park offers both PLUS it adds in close proximity to outdoor activities for everyone. Likewise, this would revitalize the existing neighborhood adding in it’s own unique element benefiting immediate property owners and Palm Coast as a whole.

Matanzas Woods experienced a couple of negative developer proposals since the closure of the course, and I personally was opposed to each. BUT this is NOT such a situation. The idea and opportunity to bring a regional park and revitalize the golf course property is anexcellent opportunity for the neighborhood.

If you’d like to know more, help spread the word, and/or discuss the possibilities and issue further; connect with us at:

www.facebook.com/matanzaswoodsmatters

www.twitter.com/matanzaswoods

Stay informed about Matanzas Woods matters because Matanzas Woods and you matter.

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Kathleen’s Tip of the Week: Understanding Property Value

2013-11-23T00:52:52Z

If you’ve ever attended a public meeting regarding something occurring in your town or neighborhood, you’ve probably heard at least one person make the claim of how the change or situation will effect their “property value”. Property value is also one of the most misunderstood items of homeowners. It’s rightfully so one of the most important things about owning a home, but it’s also very misunderstood.

What most people are referring to when it comes to “my property value” is how much they could sell it for at any given point in time. What that number is actually entirely unknown because real value comes down to what a buyer and seller would agree on in regards to price. Since that situation has happened, “suggested list prices” are on recent sales of similar homes and adjusting for desirable features. The bottom line is that many things go into and contribute to the value of a property.

There are challenges here because no 2 homes are typically 100% alike and placing a dollar amount on buyers tastes is always fluctuating. This is the reason that “upgrades” don’t carry the same dollar amount towards value as one paid for the upgrade. For example, one may pay $50,000 for a gorgeous pool and deck but the pool and deck do not often add $50,000 to the value of the house. Why? because pools aren’t important to every buyer. They require upkeep and can be costly. For many buyers they could be a give-or-take and therefore may not hold “worth” to a potential buyer. This is also why automated “valuation” systems like Zillow’s or Trulia’s struggle when it comes to accuracy.

Likewise, buyer tastes change over time. Hardwood floors, for example, are very popular. Many buyers are opting out of carpet and must way the value of changing the flooring.

Impacts on Property Value

Property value can (and will) fluctuate over time. Basically it comes down to two categories – controllables and non-controllables. As indicated by the names, the second can certainly be the most frustrating. But, again, in both categories the amount of the impact whether positive or negative can (and will) fluctuate. Let’s take a look at some of the items in each category:

Controllables – These are things you, as an owner, have direct control over. These include things like property condition, how you allow others to use your property (i.e. pathways through over long periods of time), updating, landscaping, etc. We live in homes and we get comfortable. Our homes are also an emotional attachment often times, but when it comes time to sell a lot of that emotion and comfort must be put away to make smart decisions on maximizing the value of the home. For example, you might like a certain color and style counter-top but it might be a color and style not desirable to today’s average buyer. Therefore, it may be a deterrent to getting offers and/or it may contribute to lower offers where buyers are taking into account the need to replace them. In those situations, you have the control over making that decision that will impact your value.
Non-Controllables – These are the things you, as an owner, have no real control over. They include things like local economic performance (the ability to purchase), the upkeep of neighboring properties, quality of surrounding properties, quality of neighbors and environment, land-use changes, etc. This area can be extremely frustrating for owners and we’ve all seen the economic impacts on our values over the last few years as well as many other non-controllable impacts. These aren’t all negative either, there are non-controllable impacts that bring real positives to value such as a land-use change that might be more desirable to to today’s owners. This is also an area that makes one realize the importance of being involved and informed in their local community.

The bottom line is that many things impact property value and those things also change a great deal over time, because people change. It’s important to be open-minded if one truly wants to maximize the value of their property.

What are your thoughts?

Click here to find out what your Flagler County or Palm Coast property is worth.

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Matanzas Woods: Golf Course Talk, & Multi-use Path Coming

2013-11-22T10:36:51Z

Matanzas Woods, originally a golf community, located on the north end of Palm Coast has seen it’s own share of unique challenges over the last few years. The community is home to the Matanzas Golf Course that closed a few years ago after a failed venture to remodel the course. Recently the course was purchased as a part of a package which included the Cypress and Pine Courses, but the Matanzas Course has not been slated to re-open at this time with the group who made the purchase.

Examples of possibilities brought by Jim Cullis

Recently buzz started to surface about another sale of the Matanzas Course and Jim Cullis of Grand Haven Properties notified residents about meeting with them to discuss future opportunities for the course itself and the community (click here to see Jim’s original letter to residents). Residents met with Jim on Wednesday and Thursday this past week to discuss what is taking place and what some possibilities are.

According to Mr. Cullis, he is involved with a group looking to purchase the course. They are currently in the exploratory phase of the contract. This meeting with the community to hear from them is a typical part of this phase when it comes to commercial development purchases. Mr. Cullis was also the past President of Landmar which had originally acquired and made the decision to close the Matanzas Course which provides him with a unique perspective and a commitment to try and “make things right” according to his letter.

Mr. Cullis spoke of the idea of possibly re-opening the course and by his estimates would take $4 to $6 million to do so. Not only are the initial costs of re-opening a drawback, it’s also looking at the future sustainability of the course remaining open long-term as golf continues to struggle and would be competing with 6 other local courses. Taking those items into account one idea Mr. Cullis presented was converting the land to a Regional Park with a variety of accessible activities such as walking/biking paths, kayaking, canoeing, and the possiblity of a 9-hole course and/or community center . He presented examples of other golf communities that suffered a similar fate and have done things similar. The addition of canals and lakes could also lend to improving drainage issues that have occurred in certain parts of the community after heavy rains.

Residents were very vocal and seemingly adamant about re-opening of the course as the only option at the Thursday evening meeting. The argument mostly focused on property value and a level of distrust of intentions. As a homeowner on the golf course in the Matanzas Woods community, I and my family understand first-hand the toll the situation with the course and the overall market conditions have taken on property values in recent years. At the same time, we see the idea of the regional park also as unique and positive possibility.

Property values are impacted by a great deal of things. What is known as “frontage” indicate special/unique desirable property situations, including things like golf course/park views, that do lend to increased value since the property is then typically in higher demand. The key element being “desirable”. Attitudes towards what is considered “desirable” is changing dramatically with many buyers and owners more focused on nature and close access to outdoor activities such as walking and biking paths coupled with great natural views. This puts the idea of a Regional Park in the community as a very unique opportunity as a possible solution for Matanzas Woods and the current situation. In my professional opinion this idea could lend a great deal to correcting home values as well as possibly increasing them substantially especially with the current market improvements taken into account as well.

Again, no sale has been completed on the property and no decisions made at this time. Any conversion of the property to a park would take the approval of the City of Palm Coast which would also hear from residents on that decision. Residents seemed to want to meet further on the matter to discuss.

Multiuse Path Coming to Matanzas Woods Parkway

On another note, the Palm Coast Observer reported in an article on November 13th that the City of Palm Coast has come to an agreement for a mutliuse path along Matanzas Woods Parkway (click here to read the article). According to the article, the path will stretch 1.8 miles and run from US1 to Bird of Paradise Drive and cost $750,000. The City Council is slated to formally vote on November 19th.

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Kathy’s Real Estate Tip (The Speculation Trap) & Weekly Update

2013-11-02T06:47:53Z

When it comes to buying and selling real estate, it’s important to make informed and educated decisions. The worst thing to do is to speculate about the seller, the buyer, the market conditions, the property, etc. Speculating on any of these things can cause buyers to lose out on a property they really wanted, over pay for a property, plus more. Likewise sellers could lose equity, take longer to sell, plus more. Here are a few ways that buyers and sellers speculate today and how to avoid it:

The market – Many people are still under the impression the local market is distressed, but the reality is that the conditions have improved a great deal locally. We are looking at the lowest inventory levels of available properties for sale in many years. Demand is up. And properties are selling on average around 100 days or less. This is one of the reasons I provide market stats monthly to help buyers and sellers make more educated decisions. Check out the local market reports.
Zillow, Trulia, and pricing – These sites are nice for shopping, but pricing data is far from accurate. Most people have never looked at the disclaimers or either site that explain the inaccuracy in black and white (click here for Zillow’s Zestimate stats for Florida). As you can for Flagler County, they have only been with 20% of the sales price 83.6% of the time with a 7.4% median error. For a $200,000 purchase you are literally gambling almost $40,000. Don’t base your offers or selling price on these estimates. This is where recent comparable sales and weighing all of the conditions comes in to make smart offer or initial listing price decisions.
Seller motivation - The biggest mistake many buyers make here is to think that all sellers are desperate to sell. This often leads to very low offers, rejections, and losing out on a property you really wanted. Sellers today in our local market are dealing with less competition (less homes for sale) and increased demand (more buyers and buyer activity). They often are not desperate at all and will often just end the conversation with a rejection and sell to someone with a higher offer in no time. The key to negotiation is to keep the conversation going, and a good initial offer will do just that.

The biggest way to know if you are “speculating” is when you catch yourself saying “I think . . . “. Turn those “I thinks” into “I know”.

Flagler County Market Update as of 11/2/2013

Active homes for sale: 885
- Lowest: $23,500
- Highest: $4,250,000
- Average: $339,028
- Median: $231,000
Homes closed 10/28/2013 thru 11/1/2013: 28
- Lowest: $69,000
- Highest: $527,000
- Average: $182,850
- Median: $195,060
Homes closed 10/1/2013 thru 10/31/2013: 142
- Lowest: $33,577
- Highest: $1,100,000
- Average: $197,477
- Median: $155,000

Disclaimer: Information based upon the Flagler County Association of Realtors MLS for Residential Houses as of 11/2/2013. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Weekly Flagler County & Palm Coast Market Update 10/26/2013

2013-10-26T08:21:01Z

The area is still seeing a decent amount of buyer traffic and closings. For the month we are slightly down compared to closings for the same period last year when 132 closed compared to 114 this year or 14% below last year. One of the things to keep in mind with this year is the Government shutdown which lent to buyers holding off a bit and causing some loans to be delayed. But, again, we are still seeing decent activity in the area.

The number of homes for sale is still on the low side at 883 for all of Flagler County. This has been around the average level for the last several months and still far lower than just 2 years ago when the number of homes for sale was typically around 2,000 at all times.

Closed this week (10/20/2013 thru 10/26/2013) = 30

Lowest = $38,000
Highest = $565,000
Average = $178,961
Median = $155,000
Days on the Market = 83

Closed this Month (10/1/2013 thru 10/26/2013) = 114

Lowest = $33,577
Highest = $1,100,000
Average = $200,631
Median = $160,000
Days on the Market = 91

Number of homes active on the Market = 883

Lowest = $23,500
Highest = $4,300,000
Average = $340,505
Median = $236,990

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 10/26/2013 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Set up Google Authorship Through ActiveRain: Super Easy

2013-10-22T10:14:24Z

I really like all of the recent updates to Active Rain. This is a great update that provides a huge amount of benefit and further adds to the power of the platform. Great job AR!

We recently released a new feature on ActiveRain that easily allows you to set up Google Authorship inside of ActiveRain with very little hassle.

What is Google Authorship? Well there are a ton of articles out there that explain it much better than I ever could, but essentially it is your way of getting Google to trust the content that you write and attribute that content to you in the search results. If you pay attention, you'll no doubt have noticed something like this showing up recently in Google search results:

This is a pretty big deal as Google rarely changes the actual display of their search results. We've all gotten accustomed to the standard 'blue link, green URL, black description' over the years so when they make a change, it tends to stick out. In fact, it's being reported that Google Authorship and having your picture display next to your result is increasing click through rates for posts that don't land at the very top of the search results.

Many of Google's recent updates are aimed at doing away with spam sites and trying to give their customers (read: searchers) the best results possible. The addition of Google Authorship is no exception as Google aims to try to build a profile of you as an author and get a better understanding of who is writing about what, and how valuable that content is to the people finding it (their customers).

So We Had to Make it Easy

Michael George recently wrote a series of posts about setting up Google Authorship on your ActiveRain blog. We couldn't appreciate his effort any more. In fact, after watching him assist many of you in setting it up in the comment section of his posts, we decided it was time to make it a little easier. We also know that any time Google makes a play and suggests you do something, we're going to go ahead and listen. So with thanks to Google and Michael, here's how you set up Google Authorship for your ActiveRain blog.

How to Set up Google Authorship

Watch this quick video 1.5 minute video then follow the steps below

Step #1. The first thing you need to have is a Google+ profile. If you have a gmail account, or any kind of Google account, you already have Google+ set up. You just need to figure out where it is and get things all squared away there. Here is a post that walks you through setting up Google+ and some of the important things to consider.

Step #2. Make sure you are logged into Google+ on the browser you have open. While logged in to Google+, open another tab on your browser and navigate to ActiveRain.com and more specifically to the page on ActiveRain that allows you to edit your profile.

Once you get to the 'edit' page on your profile on ActiveRain, look for the little section on your profile that says "find me at" and click on the little pencil icon to the left of those words

Step #3: Once you click the little pencil icon to edit that section of your profile, Look for the area that allows you to sign in to your Google+ account. As long as you are logged into your Google+ account on the same browser, you will automatically be able to connect your ActiveRain account with your Google+ account.

Step #4: Once you have signed in with your Google+ account, the 'sign in' button will be replaced by two links. One link says 'import URL' and the other links says 'verify'. First click the 'import URL' link in order to import the URL of your Google+ account. Then click the 'verify' link. This will ensure that ActiveRain is connected to your Google+ profile.

Step #5. Once you click the 'verify' link, you will see some additional instructions appear. These tell you the final step of setting up Google Authorship for your ActiveRain blog. For this part, follow the little link that says 'Google Plus "Other Profiles Links'. When you click on that, you will be brought to the 'About' portion of your Google+ account. From this page, scroll down until you find the Links section (It looks like the image below) and then click the 'edit' button.

Step #6: Once you are on the edit page, scroll down until you find the section titled 'contributor to' and then click the 'add custom link' option in the 'Contributor to' area.

Once your ability to add a custom link appears, go ahead and use the first box to give the link anchor text and then paste your ActiveRain profile URL in the second box. You can see below that I named my link 'San Jose Real Estate News and Events' and I linked it back to my ActiveRain blog at http://activerain.com/blogs/arbob. Your blog on ActiveRain is located at http://activerain.com/blogs/(whatever your user name is). At that point, hit save and viola, you will have been confirmed as an author using Google Authorship. But there is one more step!

Step #7: At this point, you now want to also direct Google to your profile on ActiveRain. This will help ensure that everything lines up. In order to do this, from that same place you edited your 'contributor to' section, directly above that is a place to tell Google where you have a profile somewhere online. In this section, you will add a link to your profile on ActiveRain. Your profile link is something like: http:activerain.com/profile/arbob (where you replace 'arbob' with your own user name). Go ahead and put a link to your profile in the 'Other Profiles' section as shown below and then hit 'Save'. Now you're done!

Some advice on naming your link. Use anchor text that actually tells Google something about your blog. Don't just use 'my ActiveRain blog', or 'my blog' or something that doesn't utilize good anchor text. Think geographic and think about what you want Google to know about you as an author.

Why Isn't My Face Showing up Right Away?

Google doesn't actually promise to show your face in the search results at all. In fact, they reserve the right to do it if they want. And even if they decide to show your face because you have written such great content, it's not going to happen right away. Give it a little bit of time and check back on your search results every couple of days.

If you are wondering if you did everything right, you can head over here and run a test. When you get to that page, just take the URL of your profile or even the URL of one of your blog posts on ActiveRain and throw it in the field near the top of the page. If you did it correct, the results of the test should look something like this.......

Notice above in green where it says "Verified: Authorship markup is verified for this page." If you see that after you run the test from the link above, you're all good to go. Then it's up to Google when they will actually start showing your face in the results.

---

Keep Up In the Rain!

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Palm Coast & Flagler County Market Update: Life After Short Sales

2013-10-19T23:49:24Z

Over the past 2 years we have seen a very dramatic, and very positive, change in local market conditions. The average number of days on the market is down below 100 days in Palm Coast and slightly over 100 in all of Flagler County year-to-date. We continue to see the number of residential home sales exceeding the previous year's number, and are currently 3% above 2012 through September. And the number of homes for sale is way down with 839 in Flagler County and 599 in Palm Coast. And cash sales continue to dominate the market at about 54% of all residential home sales in Flagler County.

The most noticeable, and perhaps the biggest positive, is the disappearance of short sales. Short Sales have typically comprised over 35% of all homes for sales and all homes sold in the area over the last couple years. The large number were a clear sign of a distressed market. But that picture has changed with only 38 currently on the market in all of Flagler County.

Buyers

So what's the market look like going forward now in Flagler County? If conditions remain similar to today, very bright. And as much as many buyers hate hearing this phrase, it could not be more true than right now . . . now is the time to buy if you were planning to. Listing prices and median sales prices are creeping up and will most likely continue on that steady trend. With the average number of days on the market in 100 day range combined with the number of sales up and the inventory low, buyers truly can't afford to wait to make offers if they find the home they are very interested in. There is the very likelihood that someone else is right behind you waiting to make an offer.

Sellers

So what should sellers expect? The first thing sellers should always do is price the home right. Playing around with pricing and speculating typically ends up costing sellers quite a bit more in the long run because the home stays on the market far longer than it should have if priced correctly from the beginning. Just because prices are trending up, inventory is down, and demand is up doesn't mean that sellers should expect to be able to get an unrealistic purchase price for their home. Buyers are far more savvy today and have a great deal more information available to them to make smart offers along with the fact that in financing situations the property must be able to appraise.

For more local market statistics, visit the Market Reports Page.

What questions do yo have about the local market?

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Short Sold Your Home: When Can You Buy Again?

2013-02-14T06:52:35Z

Owners who have short sold their home know that it can be a daunting ordeal, and there are some negative ramifications on credit . The question for most at the end of it all is, “When can I buy a house again?” especially with so many great deals available today. Blair Lamphier, owner of Community Mortgage Solutions, gives the following as a guide:

CONVENTIONAL LOANS:

Short sale- 4 years from the date of the sale, and removing the owner from the deed. 10 % down
Short sale- 2 years from the date of the sale, and removing the owner from the deed, 20 % down
Foreclosure- 7 years from the date foreclosure was completed and transferred out of the owner’s name.

FHA LOANS:

Short sale- 3 years from the date of the sale, and removing the owner from the deed.
Foreclosure- 3 years from the date foreclosure was completed and transferred out of the owner’s name.

VA LOANS:

Short sale – 2 years
Foreclosure – 2 years

USDA LOANS:

Short sale – 3 years
Foreclosure- 3 years

If you have sold in a short sale situation in the last few years and are interested in owning, it might be time to see what options are available for you today. Give Blair and his team over a Community Mortgage Solutions a call today.

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Flagler County Real Estate Gets Off To Strong Start In 2013

2013-02-11T04:14:40Z

January was definitely going to be an interesting month for local real estate because of the performance in 2012 when we saw 122 residential house close which was 56% above 2011. January is typically the lowest number of real estate closes each year in the area. January 2013 didn’t come in above 2012, but we saw 107 residential house closings which is 13% below last year but 37% above 2011. Click here for all of the local market report details

Price

The median price of those homes closing this January was $143,000 and was the highest it’s been since 2009 for the month of January alone. Overall median price has been trending upward in the area and all signs point to that trend continuing.

Cash still dominates the market

Cash sale composed 58% of January 2013 residential house closings. Conventional loans came in at a strong second at 29%.

What to expect for 2013

We anticipate 2013 to be another strong year for the area. Inventory still remains at the lowest levels in years with about 890 houses for sale right now. Demand and “foot traffic” is continuing to be strong in the area. February is typically the month we see a strong increase in online searches and in just these first few days of this month this year we have seen a spike in those searches.

Disclaimer: Information based upon the Flagler County Association of Realtors MLS for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Moving On Up: Flagler County/Palm Coast Market Update

2012-11-19T07:28:22Z

In Flagler County and Palm Coast we have seen a lot of positives this year in regards to local real estate with residential houses. Just some highlights are:

A 25% increase in the total number of houses sold from January 1st through October 31st of this year compared to 2011. 1,704 homes sold in 2012 during that period compared to 1,362 in 2011.
A significant decrease in the number of houses for sale which is at 846 as of 11/19/2012. In the last few years this number was typically around or over 2,000.
A significant drop in the number of short sales listed. We are currently 88, or about 10% of all active house sale listings for the County. Just last year this number average around 35% of all listings.

One of the biggest questions that comes up is in regards to the recovery of prices. The good news is that the combination of increasing sales and lower inventory levels is resulting in the flattening out and slight increases in prices. This is the direction we want to see . . . slight increases.

Click the links below for specific market statistics in Flagler County and Palm Coast.

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Monday market Update 7/8/12 to 7/14/12

2012-07-16T06:14:06Z

June finished out a good month for sales in the area with 187 houses sold. This was just slightly over June last year when 184 sold. Through June of this year we are still 32% above last year for the same time period. As you can see in the chart below we are on a similar trend from month-to-month.

Activity this past week

This past week we saw 40 new houses listed in Flagler County. The lowest being $65,000, the highest being $1,299,900, for a median list of $168,375. There are currently 718 houses listed for sale in the area, and again is lowest it’s been in several years.

In terms of closings, there were 21 houses that closed this past week. The lowest being $74,000, the highest being $400,000, for a median price of $127,000, and average days on the market was 86. That brings the total number of sales to 1068 for the year through 7/16/2012 with average days on the market of 114.

We have definitely seen the pace pick up in the area. As you can see, the average days on the market for all house sales is slightly over 90 – 180 days which the average target that you should look for when selling.

Question of the week: All the sales are mostly short sales right?

This actually false. Of the 1068 houses that have sold only 265 were short sales which is about 25%. Likewise of the 718 houses active for sale as of today only 100 are short sales which is about 14%. This is very positive as short sales have typically been about 35% of all active listings and sales in the last couple of years.

For a full market report of the area visit our Market Report page at PalmCoastHomeShow.com.

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 7/16/2012 for Residential Houses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Monday Morning Flagler County Market Recap: 6/10/2012 thru 6/16/2012

2012-06-17T13:38:08Z

Residential Houses

We’re now into the third week of typically the busiest month for real estate in the area. It’s been another pretty active week. 43 houses were newly listed for sale. The lowest at $75,000, the highest at $968,000, for an average price of $263,554, and a median price of $170,000 for this group. The county now has just 739 houses active for sale.

Sales is this past week came in at 28 closings. The lowest being $50,000, the highest at $$535,000, for an average price of $145,229, and a median price of $108,750. That raises the total for the year to 920 residential house closings compared to 693 for the same period last year which is a 33% increase.

Condominiums and Townhouses

Condos/townhouses have had their challenges in the area over the last few years. Overall, this sector is starting to come back. Currently there are 286 active condos/townhouses listed for sale. The lowest being $39,000, the highest at $2,800,0000, for an average price of $369,125, and a median price of $253,600. Of those 286, 29 are short sales and 14 are lender owned/government owned/REO.

There have been 30 condos/townhouse closings since January 1st of this year. The lowest at $30,000, the highest being $640,000, with an average price of $162,869, and a median price of $113,000. Of those 30 closings, 26 have been cash sales.

Again, another great week continuing a strong and positive year in the area. Make sure to visit www.PalmCoastHomeShow.com for more market statistics and all your local real estate shopping needs.

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 6/17/2012 for Residential Houses & Condominium/Townhouses. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"

Matanzas Woods Market Report Card

2012-06-12T07:53:18Z

Since we live in the Matanzas Woods subdivision, we get the common question of how is the market doing in our neighborhood. Truth be told, Matanzas Woods has seen it’s challenges over the past few years especially with the golf course’s temporary closure which the neighborhood is built up around. It was positive to hear that a local investment group had purchased the course and hopefully we will see it open again in the future.

Despite any challenges over the past few years, Matanzas Woods has remained a desirable area. The housing market in our neighborhood is doing pretty well, and often much better than most are aware. Let’s take a look:

Active Houses Currently For Sale

Number Listed . . . . 23

Lowest . . . . . . . . . $85,000

Highest . . . . . . . . . $344,900

Average . . . . . . . . . $180,852

Median . . . . . . . . . $178,900

Avg Days on Market 113

Short Sales

One huge positive is that the number of houses listed as “short sales” of those 23 is 4. With the lowest being $85,000 and the highest being $309,999 and having an average days on the market of 30. Short sale listing have typically averaged about 35% of all listings in Palm Coast over the past few years and we are seeing dramatic drops in these numbers recently which is a great sign.

Short selling has been and can be a necessary avenue if one needs to sell or is in a pre-foreclosure situation and owes more than the market will bare in terms of value today. Feel free to contact us if you are in this situation and need help.

House Sales

Great. The number of houses for sale is low, but is anything selling in the area? Yes. And very much so. Since January 1st of this year, 35 houses have sold with an average selling price of $124,819 and a median selling price of $117,700 and an average days on the market of 101 days. The lowest was $77,000 and the highest was $235,000. This is up slightly from the 33 houses that sold during the same period last year.

Again, it’s been a very positive year for real estate in the Palm Coast area and Matanzas Woods is also seeing some real positives. Fee free to contact us any time if you have any questions about real estate in general, Flagler County, Palm Coast, or your street. We’re your neighbors and we’re here to help.

Want to see the houses for sale in Mataznas Woods at any given point in time? Visit our “Listings By Neighborhood” on our website, wwww.PalmCoastHomeShow.com, and click the link for houses for sale (Click here to go there now).

Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 6/12/2012 for Residential Houses in the Palm Coast Matanzas Woods Subdivision. Information may be deemed reliable, but is not guaranteed

Kathleen West, Realtor
Trademark Realty Group of Palm Coast

416 South Central Ave Flagler Beach, FL 32136 | Office: (386) 446-5930
Email: Kathleen@PalmCoastHomeShow.com
www.PalmCoastHomeShow.com

"Bringing Real Estate to Life"