After July’s buoyant home-sale figures in Flagler County, which hit a post-recession high of 243 closed sales for the month, August’s numbers are somewhat less bubbly, but the trend remains solidly positive even as interest rates creep up.
Real Estate & Development
County Rejects Roma Court for Sheriff’s Office as “Unworkable,” Citing 10 Issues
County Administrator Craig Coffey ended the Roma Court option’s prospects with a 10-point memo listing a series of structural and logistical concerns about the 57,000 square-foot property on Palm Coast Parkway, about half of which would have been leased to the county for the sheriff’s uses in a 15-year arrangement.
Home Sales in Flagler Hit Post-Recession High as Time On Market Declines and Prices Rise
Homes for sale in Flagler County have spent on average just 55 days on the market, also a post-recession low, while the median sale price of $155,000 in July in Flagler improved an impressive 7 percent on June’s median of $144,500, and 19.7 percent on the median price a year ago,
Court Injunction Sought to Stop Palm Coast’s Tree Removal Around Palm Harbor Center
Calling Palm Coast’s tree removal illegal, resident Dennis McDonald filed an injunction in circuit court Thursday seeking to halt removals planned for road-widening and as part of a redevelopment of the Palm Harbor shopping center that may significantly alter the character of the area.
Cool to Sudden Roma Court Proposal, Flagler Sheriff Restates Preferences for Proximity
Flagler County Sheriff Jim Manfre was surprised by an unexpected proposal from the owner of Roma Court, the chronically vacant strip mall on Palm Coast Parkway, to lease the building to the county for sheriff’s operations, and cited several factors that fall outside his preferred options.
Appraisals for Old Hospital Place Value at $1.5 Million as County Moves Toward Acquisition
The county wants to buy the old hospital in Bunnell for $1.23 million and use it as an HQ for the sheriff. Two independent appraisers have placed the market value of the old 81-bed hospital at $1.5 million, and an engineering firm that surveyed the hulking 60,000 square-foot property found no overt issues with the building aside from asbestos. A private consortium bought the building for $750,000 in 2003.
Flagler Homes’ Median Sale Price Up 28% Over Last Year as Investors Keep Buying
Sales closed on 200 single-family homes in June in Palm Coast and Flagler County, half those for cash as investors continue to buy homes. The median price of $144,500 is the best showing since February 2009. The median number of days those homes spent on the market was 71, an increase of eight days from last year.
Home-Flipping in Central Florida Fuels Bubble Fears
The median price of existing-home sales in the core Orlando market has increased from $108,000 at the beginning of last year to $145,000 as of April. A review of 30 flips by a single seller shows a median buy price of $41,178 and resale price of $74,000 — after accounting for repairs and renovations.
How Bank of America Regularly Lied to Homeowners and Rewarded Foreclosures
Bank of America employees regularly lied to homeowners seeking loan modifications, denied their applications for made-up reasons, and were rewarded for sending homeowners to foreclosure, according to sworn statements by former bank employees.
Dismissing Affordable Housing Prejudices, Palm Coast Approves Brookhaven Apartments
The Palm Coast City Council Tuesday approved 4-1 the 45-acre, 117-unit Brookhaven apartments development in Town Center, which will provide housing to lower income residents and walkability to nearby areas.