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.
Real Estate & Development
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.
Making It Right in New Orleans, 6 Years After Katrina: The Grit of Pitt and Green
From Brad Pitt’s Make It Right program to a broad-based spirit of enterprise, Flagler Beach’s Frank Gromling has been tracking New Orleans’ rebirth every year by attending the city’s annual jazz festival.
Florida Home Sales Rise in 1Q, Home Values Tumble Again
Florida home sales rose 13 percent in the 1st quarter, led by a glut of bank-owned homes on the market, but housing prices continued to fall, dampening hopes that property values have bottomed out.
Loan Modifications: How Banks Require Struggling Homeowners to Waive Rights
Mortgage loan modification scams: Regulators ban the practice, but banks are forcing homeowners struggling to save their home to sign away their right to sue.
County Property Values Fall Another 14%; Palm Coast: -12%; Tax Rates Heading Up
The declines, for the fourth year in a row, will define to what extent local governments must either raise taxes or cut services as they prepare next year’s budgets. Governments have little room to cut anymore, short of vitals services.
Property Tax Overhaul Passes House: Breaks For New Home Buyers, Business, Snowbirds
First-time home buyers would get a 50 percent property tax break on the value of their home. Voters would decide whether to cap property tax assessment increases for commercial properties at 5 percent.
Palm Coast’s Latest Invitation to Landowners: Come Build a Business Park With Us
Palm Coast’s business park partnership program would entail spending significant taxpayer resources to develop construction-ready sites in partnership with private property owners, as bait for future commercial activity.
New Home Sales Rebound From Record Low, But Sales Still 22% Lower Than Last Year
March new home sales post an 11 percent increase over February, but February had posted a record low, and March’s 300,000 sales volume is still 22 percent below sales in March 2010.
Growth-Management 2.0: Local Government Whims Sprawl Over State Oversight
Republicans have complained for years that growth management rules slow growth in the state. A glut of empty homes suggests otherwise. Local governments will be empowered to take advantage of far more lax growth rules.
Property Tax Reform: 50% Exemptions, Breaks for Investors, Losses for Local Governments
Supporters of the overhaul say it’ll fill up empty homes. Critics say it’ll also slash local government revenue and further shift the tax burden to current residents, exacerbating inequities.
Flagler Power: From Bunnell By-Pass to Weigh Station to A1A Seawall, FDOT Retreats
Three times in the past 12 months, Florida Department of Transportation projects in Flagler County have foundered on the well-organized shoals of local opposition across government boundaries and fiefdoms.
Palm Coast Maps Out Gentler, Kinder Impact Fees on Developers, But Questions Arise
The one-time impact fees developers pay when they build something would be lower for residential construction. Builders would get discounts for paying up front, or get to pay them on an installment plan.