On Friday, the Sherif’s Office office opened its newest Palm Coast precinct, at City Market Place, a two-storefront 2,600-square foot space at $2,.000 a month that’ll add new life to the struggling shopping center in the heart of town, and a few doors down from the Palm Coast city offices.
Real Estate & Development
County Is Negotiating Acquisition of Old Hospital in Bunnell for New Sheriff’s HQ
Memorial Hospital Flagler’s dead years may be over if its current owners, who are politically well connected locally, can agree on a sales deal to Flagler County. The property is listed for sale at $1.75 million. It was acquired in 2006 for $750,000.
Citing “Mismanagement and Inaction,” Nelson Blames Scott for Ongoing Mortgage Mess
Nelson said during a stop in Tallahassee that he has written the inspector general of the federal Troubled Assets Relief Fund, or TARP, to look into what he called “mismanagement and inaction by Florida officials” in administering a program called “Hardest Hit,” which was supposed to take federal money and help struggling homeowners.
Tidelands Condo Community Settlement May Underscore Turnaround for Palm Coast
Two legal settlements at Tidelands on the Intracoastal and a turn-around in sales suggest that one of the hardest-hit condo and home communities in Palm Coast is experiencing renewed vigor, and may be emblematic of a larger real estate turnaround in Palm Coast and Flagler County.
Bullish on 2013: Palm Coast and Flagler Housing Markets in Full Recovery
Have we returned to a normal market? No yet, writes Toby Tobin, but in a bullish analysis of Palm Coast’s and Flagler County’s current housing markets, he expects momentum to build into 2013, with all segments of the market are rising.
In Startling Confrontations, DeLorenzo Takes On Palm Coast’s Jim Landon–and Impact Fees
Palm Coast City Council member Jason DeLorenzo on Tuesday questioned the veracity of City Manager Jim Landon’s numbers and his “backroom” style while making the case for a two-year moratorium for impact fees on new construction in the city in a rare, direct and sustained public challenge to the assuming city manager.
In Palm Coast, the End of a 90% Building Permit Discount Will Affect Thousands
The 90 percent discount on all permits–from replacing AC units to replacing roofs or water heaters to installing pools and fences–began in 2009, because the city was collecting too much money. The discount ends Oct. 31, resulting in much steeper fees for more than 5,000 such permits a year.
As Expected, Flagler County Suspends $1,707-a-Home Building Tax for 2 Years
The county’s moratorium is relatively small, but Flagler’s chamber of commerce and its home builders association hope to get the school board to approve a moratorium next, then move to Palm Coast, where impact fees add up to $15,270.
Palm Coast Mayor Netts Says Amendment 4 Takes Taxes From “Screwy” to “Screwier”
Other Flagler government leaders joined Jon Netts in criticism of of proposed Constitutional Amendment 4, which would limit the tax liability of commercial, rental and vacant properties while lowering the tax liability of first-time home-buyers, but at the expense of local government revenue, which has been battered since 2007.
In Flagler and Across Florida, More Perky Housing Sales Point to Encouraging Trends
Sales of single family homes in Flagler were up 9.5 percent in August over a year ago, 10.8 percent across Florida, while pending sales have skyrocketed in further signs of health for the battered housing sector, even as prices still stagnate.
Palm Coast Toughs: Fake Pot Banned, Garage Sales Watched, Woodlands Development a Go
In a series of decisions Tuesday, two of them defying strong public sentiment, the Palm Coast City Council voted to prohibit the sale of legal products known as synthetic marijuana, require permits for garage sales, and open the way for a vast assisted-living development at the edge of the Woodlands.
After 22 Years of Mostly Broken Promises, County Stops Hunter’s Ridge Development
The Flagler County Commission voted unanimously to stop all permitting on the 5,000-acre development that has yet to go beyond promises, while its developer has failed to meet a laundry list of county demands and requirements.
Planning Board Unanimously Backs Big Senior Complex Near Woodlands, Upsetting Many
The recommendation now goes before the Palm Coast City Council, which is expected to approve land use changes to enable the 216-unit assisted and independent living facility despite the conversion of conservation land and traffic issues that concern Woodlands residents.
When Bankruptcy and a Second Mortgage Combine Into an Opportunity for Florida Homeowners
“Bankruptcy” and “exciting news” don’t usually go together well in the same conversation. But a recent ruling by a federal court is giving Florida homeowners a window of opportunity to strip off a second mortgage, argues consumer attorney Lewis Roberts.
GoToby’s Don Tobin Joins 8 Others Vying to Replace Frank Meeker on Palm Coast Council
Don Tobin, better known as Toby, is the most recognizable name among those declaring interest in a position four Palm Coast City Council members will fill by their appointment come November. Tobin’s focus is real estate, economic development and city-county relations.
Existing and New Home Sales Up Nationally; Florida Looks to Other Improving Indicators
Home sales have yet to kick up in Florida, where sales fell slightly in April, but Realtors are quick to say that median price and pending sales rose dramatically as the inventory of homes available for sale keeps shrinking.
There’s Only So Much Palm Coast Government Can Do About Eyesores and Vacant Lands
From the Palm Coast Players Club to the Sheraton/Palm Coast Resort or Sesame Island, the city has very limited legal or financial means, absent much higher taxes, to take over such properties and convert them to something residents would prefer, argues city council member Frank Meeker.
Florida’s Metro Areas Still Lead the Nation in Foreclosures and Delinquencies
Prompted by tumbling property values and a large number of sub-prime loans, Florida has also been slow to get back on its feet because of a foreclosure process that on average takes more than two years to complete, according to report by a Washington -based coalition that is tracking the nation’s housing recovery.
Signing For 3 More Years at City Market Place, Palm Coast Explores New City Hall Options
Palm Coast city government’s new lease at City Market Place is considerably cheaper than the $20,000 a month it’s been paying since 2008, but council members are now talking about a lease-purchase deal for a new city hall at Town Center.
ICI Homes Gets Its Way, Mostly, in Cypress Knoll Development as Palm Coast Settles Suit
Mori Hosseini’s ICI Homes has been battling Palm Coast since 2004 over a zoning designation in the E Section that ICI claims denied it its development rights. The deal means 58 homes on lots smaller than the norm in Cypress Knoll can now be built there.
Foreclosure Fast-Tracking Bill Has Homeowners Worried About Being Shoved Out
A controversial bill backers say would speed up the foreclosure process and help jumpstart the economy made its Florida Senate debut Monday amid concerns that the measure could leave some homeowners unjustly out in the cold.
Palm Coast Council Rejects Latest Cypress Knoll Development Proposal
The proposal, rejected 4-2 by the Planning Board, is part of a settlement of a long-running dispute between developer ICI and Palm Coast, would have allowed up to 60 homes west of East Hampton and south of Eric Drive.
Mission Stumbles: How Fannie and Freddie Put Homeowners and Taxpayers at Odds
Here’s a primer on Fannie and Freddie’s role in the housing market, why their actions often go against the interests of homeowners and are even at odds with their own mission, and what to expect from here on.
Good News for Flagler Property Owners: Most Home Values Will Barely Fall; Some Will Rise
Flagler County Property Appraiser’s preliminary estimate sees a property value drop in “the low single-digits” at most, with taxable values rising in Grand Haven and Flagler Beach, among other spots, as the five-year collapse in values appears to draw to an end.
Debt, Divorce, Downsizing and Death: The Thriving State of Estate Sales in Palm Coast
Estate Sales have been the lifeblood of Diana Minotti’s business in Palm Coast in the last four years, underscoring the extent–and occasional upside–of a recession as people retrench and sell off luxuries from fine art to historic furniture.
Light at the End of the Catacombs: Home Sales Up Significantly in Flagler and Florida
Palm Coast’s and Flagler County’s real estate market can take heart: for the first time in half a decade, the home-buying industry is looking a lot less grim than it’s been, even if prices have yet to catch up to the uptick in sales.
Timeline: Hammock Dunes DRI, 1982-2011
Timeline of the Hammock Dunes development DRI from its Admiral-ITT origins through its Ginn-Luber Adler ownership and disputes with the Flagler County Commission.
Palm Coast Seethes as Flagler Ends Hammock Dunes DRI’s Obligations to County and City
The Flagler County Commission closed the books on the 28-year-old Hammock Dunes “development of regional impact,” angering Palm Coast over developer dollars the city contends should still be paid for widening Palm Harbor Parkway.
Palm Coast’s Strathmore Deli Closes, Citing Overhead; Another Strip Now Stressed
Strathmore Deli, renamed Best Bagels & Deli, was the high-traffic anchor for the Parkway Plaza strip between Plam Coast Parkway and Cypress Point. Its abrupt closure four years after it opened is rippling with consequences.
200 Opponents of a Matanzas Woods Complex Tantalized By City Hints of a Solution
Palm Coast Manager Jim Landon told opponents of the Sawgrass Villas project that the city might entice the bank that owns the land to open a branch on SR100, buying city land and enabling the city to buy the Matanzas Woods property.
Foreclosure Tale: When Renters, Despite Protections, Are Intimidated Into Leaving
Palm Coast’s Genis family–mother, father, six children–was duly paying rent on its Smith Trail home when it was sold by the court and the family was given 10 days to clear out, even though it never saw an eviction notice.
Existing Home Sales Just Under 5 Million, 11.3% Better Than Last September
Existing-home sales were down in September on the heels of a strong gain in August, but remain well above a year ago, according to the National Association of Realtors.
A Florida Bank’s Rise and Fall Spotlights Fast-and-Loose Culture Plaguing the Economy
The rise and fall of U.S. Century, whose leaders used it as their own corporate ATM, exemplifies the failure to regulate banking during the boom years and the slipshod approach to the bailout. Losers are taxpayers and Florida residents grappling with ill effects of sprawl.
UF Survey: Political Acrimony and Economic Ills Hurt Real Estate’s Outlook in Florida
The University of Florida’s quarterly Survey of Emerging Market Conditions concludes that economic and political worries are holding back spending, except by foreigners. Tourism is the state’s strongest bright sport.
From Federally Owned Foreclosed Homes To Rental Properties: Can It Work?
Government-owned foreclosures as rental property investments: The government is looking for win-win solutions for taxpayers, renters, investors and neighborhoods, but there’s plenty of skepticism about the foreclosure-to-rental concept.
Condo No-Go: Florida Cabinet Sides With Flagler County Over Hammock Dunes
In a victory for Flagler County, the Florida Cabinet unanimously approved a judge’s order that blocks Ginn-Lubert Adler’s plan to build an oceanfront condominium and hotel at Hammock Dunes, near the 16th Road public park and beach.
Hammock Dunes Showdown: Flagler and Developer Battle Before Florida Cabinet
Ginn-Lubert Adler and investors want to build a 77-foot hotel and significantly increase the residential density in an area adjoining the public beach by 16th Rd. in the Hammock. Flagler County is opposed. The two sides are arguing their case before the Florida Cabinet today.
GMAC Mortgage Machination: Don’t Have Document to Foreclose? Make It Up
When GMAC, one of the nation’s largest mortgage servicers, sought to foreclose on a homeowner last year and lacked a crucial document, the company just made one up, pointing to a pattern of deceptive filings to foreclose on homeowners.
Attorney General Bondi’s Motive Questioned in Firing of Mortgage Fraud Investigators
Florida Attorney General Pam Bondi fired two assistant attorneys general who were heavily involved in investigating alleged mortgage fraud, including focusing on one firm that had contributed to Bondi’s campaign. Bondi says they had “shortcomings.”
Is Flagler County’s Real Estate Industry Finally Brightening? Depends Whom You Ask.
Sales are increasing somewhat by volume but more than half the transactions are for cash, prices keep falling, foreclosures are increasing, and the overall economy shows little sign of improvement.
City Marketplace in Receivership; Public Sale of the Palm Coast Development Set for August
City Market Place, where Palm Coast has its municipal offices, has been mired in foreclosure proceedings since 2009. The changes aren’t expected to affect tenants except, perhaps, for the better.
20% Down Mortgage Requirement Would End Middle Class Home-Ownership As We Know It
If a proposed Qualified Residential Mortgage Rule (QRM) of 20% down and spending less than 28% of monthly gross income on the mortgage takes effect, Marc Morial of the National Urban League argues, middle class home ownership will be a thing of the past.
Sprawl-Fighting State Oversight Agency Is Dissolved, To the Delight of Local Developers
The Florida Department of Community Affairs, created in 1969 to manager growth, is being diluted into other agencies, leaving local governments much freer to develop as they choose.
Coquina Defund: Palm Coast’s Desalination Hopes Dry Up As Last Partners Drop Out
The Coquina Coast Seawater Desalination project unveiled 14 general sites where the plant might be located in Palm Coast, but it may be a moot discussion as the city’s financial partners are quitting, and Palm Coast can’t afford it on its own.
When Will That Walmart Open on Old Kings Road? “Nobody Knows”
Expanding Old Kings Road was to guarantee Walmart’s opening by 2011, with 400 to 500 jobs. Instead, the city is left holding a bag-full of empty promises–and a $6.3 million loan from its utility fund.
Scott Signs Development Bill That Virtually Eliminates State Oversight of Local Planning
Local governments will get to decide how and where to grwo with little or no interference from the state growth-management regulators, whose role is now severely limited.
As Palm Coast Talks Development, Housing Prices Hit New Low, Falling 4.2% in 1Q
Housing prices fell to levels not seen since 2002 as double-dipping prices hit new recession lows. Meanwhile, the Palm Coast City Council discussed approval of a plan that would add 12,000 housing units to the local hosing stock.
In a Shift, and Despite Glut, State Approves 5,000-Home Palm Coast Development
Old Brick Township to Palm Coast’s northwest is just one of several planned developments and existing lots that would add 40,000 new homes and 9 million square feet of commercial and industrial zones, more than doubling Flagler’s and Palm Coast’s populations.
Hurricane Tallahassee: Environmentalists Survey Wreckage of 2011 Legislative Session
Developers gained more power in environmental disputes, state regulation of development was scaled back, the Department of Community Affairs is all but history as the Florida Legislature diminished the state’s growth management role in favor of development.
Summit-Scaling: Enterprise Flagler, Rising Again, Wants $6.5 Million Over 3 Years
What you can expect at Friday’s economic-development summit: Demands for more tax dollars, speculative promises of thousands of jobs from executives, skepticism and disconnects. In short, a retread of old scenarios.