Flagler County / Palm Coast Saltwater Canal Monthly Report - April 2017

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Flagler County Saltwater Canal Home Sales Report Summary - April 2017

   In April, a total of 15 homes on the Saltwater Canal sold in Flagler County.  The average sales price for this months Saltwater Canal Homes was $425,675 while the average days on market was 58 days in Flagler County.

     Compared to the same time last year, in April 2016, 14 homes on the Saltwater Canal sold in Flagler County with an average sales price of $507,071, taking on average 138 days on market to sell.

     The top home sale of the month was 39 Island Estates Parkway, in the Island Estates community of Hammock Dunes, selling at $820,000.

     The deal of the month was 7 Floyd Court in the Palm Harbor neighborhood of Palm Coast, selling at $271,625.

     Here's a breakdown of sold Saltwater Canal Homes in April.

 

Palm Coast / Palm Harbor Saltwater Canal Homes Sold April

 

27 Claridge Court South - $468,000

17 Coolidge Court - $490,000

15 Cherrytree Court - $425,000

6 Cedarwood Court - $430,000

30 Collingdale Court - $385,000

21 Creek Court - $378,500

2 Coolidge Court - $360,000

13 Colechester Lane - $335,000

57 Comanche Court - $330,000

4 Fleming Court - $295,000

7 Floyd Court - $271,625

Average Sales Price - $378,920

 

Flagler Beach Saltwater Canal Homes Sold April

604 Springdale Drive - $689,000

144 Lehigh Avenue - $398,000

119 Flagler Avenue - $310,000

 

Island Estates - Hammock Dunes Saltwater Canal Homes Sold April

39 Island Estates Parkway - $820,000

 

Flagler County Saltwater Canal Lot Sales Report Summary

     7 Saltwater Canal lots sold in Flagler County in April. The Average sales price for this months Saltwater Canal Sold Lots was $117,357 while the average days on market was 106 days.  Here's a break down of last months activity.

 

Palm Coast / Palm Harbor Saltwater Canal Lots Sold in April

3 Comet Court - $75,000

16 Creek Court - $116,000

6 Clement Court - $63,000

7 Carlos Court - $132,500

 

Yacht Harbor Village Saltwater Canal Lots Sold in April

320 Harbor Village Point - $145,000

312 Harbor Village Point - $140,000

332 Harbor Village Point - $150,000

Realty Exchange is the #1 Real Estate Company in Flagler County!  #1 in sales for 9 years and counting!

Call now!

386-793-1426

Thank you for checking out this Months Sales Report for the Saltwater Canal Homes in Flagler County.  All info is believed to be true and accurate, but not guaranteed.  The source for the information is from the Flagler County MLS.  This is not intended to be an estimate of any ones home value. 

To get a Free Home Valuation and find out your homes true value, contact

Robert "Bobby" Keith, Realtor 386-793-1426

Or Click Here and fill out the form

Robert "Bobby" Keith, Realtor

386-793-1426

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

U.S. Home Sellers' Average Price Gain? $44K in 1Q

U.S. home sellers’ average price gain? $44K in 1Q

IRVINE, Calif. – April 27, 2017 – ATTOM Data Solutions' Q1 2017 U.S. Home Sales Report finds that homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase – an average 24 percent return on the purchase price, and the highest average price gain for home sellers in terms of both dollars and percent returns since the third quarter of 2007.

The report also shows that homeowners who sold in the first quarter had owned an average of 7.97 years, down slightly from a record-high average homeownership tenure of 8.00 years in Q4 2016 but still up from 7.68 years in Q1 2016.

Before the great recession, homeownership averaged 4.26 years nationwide.

"The first quarter of 2017 was the most profitable time to be a home seller in nearly a decade, and yet homeowners are continuing to stay put in their homes longer before selling," says Daren Blomquist, senior vice president with ATTOM Data Solutions. "This counterintuitive combination is in part the result of the low inventory of move-up homes available for current homeowners, while also perpetuating the scarcity of starter homes available for first-time homebuyers.

"There are some early signs this inventory logjam may be loosening up in some markets, with the average homeownership tenure down from a year ago in nine of the 66 markets we analyzed, including Memphis, Dallas, Boston, Portland and Tampa," Blomquist says. "Sky-high potential price gains may be finally prompting more homeowners to sell."

© 2017 Florida Realtors  

Hoarders: Building Safety VS. Fair Housing

Hoarders: Building safety vs. fair housing

May 1, 2017 – How should a property manager deal with tenants who hoard possessions? It can be tricky.

Hoarding is a recognized disorder with Fair Housing Act protections in most cases, but safety fire and building codes still apply. Dealing with a hoarding resident often requires tact, patience and understanding.

First challenge: What is hoarding?

When most people think "hoarder," they picture a house or unit so filled with stuff that it's hard or impossible to walk through, but that's an extreme case. Still, the Mayo Clinic defines hoarding as a disorder if the tenant has "difficulty discarding or parting with possessions because of a perceived need to save them … experiences distress at the thought of getting rid of the items." Hoarders excessively accumulate items, regardless of actual value.

However, hoarding – like most mental disorders – describes a range of behaviors. The International OCD Foundation has a nine-level rating scale, and there's a fine line between, say, level 3 and level 4 – and no magic point where hoarding moves from "a concern" to "a problem that must be addressed."

Second challenge: Safety codes

Property managers must accommodate hoarding clients, but sometimes "accommodation" contradicts local safety codes, which can include building and fire codes. Many codes also have specific rules for conditions that rise to a level that "must be addressed." Codes also focus on the tenant as well as the landlord.

"Not only is (hoarding) a fire hazard, it can actually trap people on the inside," says Fire Marshall Thomas Goode in Virginia. Too much stuff makes "it hard for them to get out, as well as hard for us to get in."

Many experts who offer advice to hoarders' landlords start by reminding them that the tenant is a human being with special needs.

"Behind all the clutter in a house is a human being that never planned to hoard," says Mahalia Dryden-Mason with the Virginia Department of Professional and Occupational Regulation. "Hoarding is a disorder that lives on its own."

In addition to respecting a tenant and making reasonable accommodations, landlords dealing with hoarders should try working with the tenant to set reasonable goals for cleanup. Once agreed-up goals are created, they should follow up with a written plan.

In all cases, a "we're working together" attitude generally accomplishes more than an air of disgust followed by clean-up demands.

© 2017 Florida Realtors

Legislature Passes Estoppel Certificate Fee Reform

Legislature passes estoppel certificate fee reform

TALLAHASSEE, Fla. – April 28, 2017 – Florida Realtors scored a big legislative victory today following the passage of a bill that caps estoppel certificate fees, among other changes.

The passage of HB 483/SB 398, which will head to Gov. Scott for his signature, completes a multi-year effort by Florida Realtors to reign in the unreasonable fees that some association management companies have been charging for estoppel certificates.

"Congratulations to all of our members who have contributed their time and energy trying to fix this problem," says Carrie O'Rourke, vice president of public policy for Florida Realtors. "After several years of educating legislators and building support in both legislative chambers on the issue of estoppel certificate fees, we brought home a huge victory for home sellers." 

An estoppel certificate provides a snapshot of the fees or assessments that a seller may owe to their community association and is provided by the association or management company when a property is being sold. Prior to this legislation, Florida law allowed associations to charge a "reasonable" fee to prepare an estoppel certificate, but without any context on what the word reasonable means, some association management companies were charging very unreasonable fees. 

HB 483/SB 398 cap the fees that community association management companies can charge for estoppel certificates at $250 for unit owners who are current in their assessments. An additional $100 can be charged for "expedited" estoppel certificates (delivered within three business days), and another $150 can be charged for owners who are delinquent in their assessments. This is a maximum of $500 for an expedited, delinquent estoppel certificate.

Once signed into law, these statutory caps will go a long way to curb the extraordinary charges that property owners have been forced to pay across the state – like an estoppel letter that cost $1,610 on the sale of a property that was sold for $190,000.

HB 483/SB 398 also require certificates to be valid for 30 days and provide for a standard estoppel certificate form to ensure the same information is provided to owners across Florida.

HB 483 was sponsored by Rep. Byron Donalds (R-Naples). SB 398 was sponsored by Sen. Kathleen Passidomo (R-Naples).

Once the bill is signed into law, it will take effect July 1, 2017.

© 2017 Florida Realtors

Flagler County / Palm Coast Saltwater Canal Monthly Sales Report - March 2017

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Flagler County Saltwater Canal Home Sales Report Summary - March 2017

     In March, a total of 18 homes on the Saltwater Canal sold in Flagler County.  The average sales price for this months Saltwater Canal Homes was $427,925 while the average days on market was 193 days in Flagler County.

     Compared to the same time last year, in March 2016, 21 homes on the Saltwater Canal sold in Flagler County with an average sales price of $361,819, taking on average 220 days on market to sell.

     The top home sale of the month was 63 Island Estates Parkway, in the Island Estates community of Hammock Dunes, selling at $1,100,000.

     The deal of the month was 116 Pine Tree Street in Flagler Beach, selling at $240,000.

     Here's a breakdown of sold Saltwater Canal Homes in March.

Palm Coast / Palm Harbor Saltwater Canal Homes Sold March

11  Crossgate Court West - $570,000

1 Commander Court - $455,000

13 Chadwick Court - $455,000

6 Clermont Court - $382,000

31 Cherokee Court West - $369,900

21 Colorado Drive - $350,000

3 Cedar Hollow Court - $315,350

24 Cool Water Court - $315,000

4 Crossleaf Court East - $289,500

8 Corning Court - $265,000

8 Fleming Court - $259,900

35 Claridge Court North - $241,000

3 Florence Court - $215,000

Flagler Beach Saltwater Canal Homes Sold in March

344 11th Street North - $475,000

116 Pine Tree Street - $240,000

Island Estates / Hammock Dunes Saltwater Canal Homes Sold in March

63 Island Estates Parkway - $1,100,000

99 Island Estates Parkway - $745,000

35 Island Estates Parkway - $660,000

Flagler County Saltwater Canal Lot Sales Report Summary

4 Saltwater Canal lots sold in Flagler County in March. The Average sales price for this months Saltwater Canal Sold Lots was $96,875 while the average days on market was 77 days.  Here's a break down of last months activity.

Palm Coast / Palm Harbor Saltwater Canal Lots Sold in March

8 Criston Court - $77,500

43 Covington Lane - $82,500

12 Floral Court - $102,500

6 Clarendon Court North - $125,000

Realty Exchange is the #1 Real Estate Company in Flagler County!  #1 in sales for 9 years and counting!

Call now!

386-793-1426

Thank you for checking out this Months Sales Report for the Saltwater Canal Homes in Flagler County.  All info is believed to be true and accurate, but not guaranteed.  The source for the information is from the Flagler County MLS.  This is not intended to be an estimate of any ones home value. 

To get a Free Home Valuation and find out your homes true value, contact

Robert "Bobby" Keith, Realtor 386-793-1426

Or Click Here and fill out the form

Robert "Bobby" Keith, Realtor

386-793-1426

Are you looking to purchase a Saltwater Canal Home in Flagler County?  Give me a call at 386-793-1426 or fill out the Buyer Form Here.

Are you looking to sell your Saltwater Canal Home in Flagler County?  Give me a call or fill out the Seller Form Here.

NAR: February's Pending Home Sales Leap 5.5%

NAR: Feb.’s pending home sales leap 5.5%

WASHINGTON – March 29, 2017 – Pending home sales rebounded sharply in February to their highest level in nearly a year and second-highest level in over a decade, according to the National Association of Realtors® (NAR). All major U.S. regions saw a notable hike in contract activity last month.

The Pending Home Sales Index – a forward-looking indicator based on contract signings – jumped 5.5 percent to 112.3 in February from 106.4 in January. Last month's index reading is 2.6 percent higher year-to-year, and at its highest level since last April (113.6); and it's at the second-highest level since May 2006 (112.5).

"Buyers came back in force last month as a modest, seasonal uptick in listings were enough to fuel an increase in contract signings throughout the country," says Lawrence Yun, NAR chief economist. "The stock market's continued rise and steady hiring in most markets is spurring significant interest in buying, as well as the expectation from some households that delaying their home search may mean paying higher interest rates later this year."

Yun says weather also played a role since last month was "the warmest February in decades."

Looking ahead to the busy spring months, Yun expects to see continued ebb and flow in activity as new supply struggles to replace listings that are going under contract at a very quick pace. This is especially the case at the lower- and mid-market price ranges, where choices are minimal and prices are being bid higher by multiple offers.

"The homes most buyers are in the market for are, unfortunately, the most difficult to find and ultimately buy," says Yun. "The country's healthy labor market is translating to greater job security, but affordability is not improving because home prices in some areas are still outpacing incomes by three times or more because of tight supply. How much new and existing inventory there is on the market this spring will determine if sales can reach their full potential and finally start reversing the nation's low homeownership rate."

NAR forecasts that existing-home sales will be around 5.57 million this year, an increase of 2.3 percent from 2016 (5.45 million). The national median existing-home price this year is expected to increase around 4 percent. In 2016, existing sales increased 3.8 percent and prices rose 5.1 percent.

The pending sales index in the Northeast rose 3.4 percent to 102.1 in February, and is now 6.6 percent above a year ago. In the Midwest, the index jumped 11.4 percent to 110.8 in February, but it's still 0.6 percent lower than February 2016.

Pending home sales in the South climbed 4.3 percent to an index of 127.8 in February and are now 4.2 percent above last February. The index in the West increased 3.1 percent in February to 97.5, but it's still 0.2 percent higher than a year ago.

© 2017 Florida Realtors

Consumer Confidence Hits 17 Year High

Consumer confidence hits 17-year high

NEW YORK – March 28, 2017 – The Conference Board Consumer Confidence Index improved sharply in March after increasing in February. The Index now stands at 125.6, up from 116.1 in February.

The Present Situation Index rose from 134.4 to 143.1, and the Expectations Index that gauges attitudes about the short-term future increased from 103.9 last month to 113.8.

"Consumer confidence increased sharply in March to its highest level since December 2000," says Lynn Franco, director of economic indicators at The Conference Board. "Consumers' assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects."

Franco says that means "Consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months."

Current conditions
Consumers' appraisal of current conditions improved considerably in March. The percentage saying business conditions are "good" increased from 28.3 percent to 32.2 percent, while those saying business conditions are "bad" decreased from 13.4 percent to 12.9 percent.

Consumers' assessment of the labor market was also more positive. The percentage of consumers stating jobs are "plentiful" rose from 26.9 percent to 31.7 percent, while those claiming jobs are "hard to get" decreased moderately, from 19.9 percent to 19.5 percent.

Future expectations
Consumers were also significantly more optimistic about the short-term outlook. The percentage of consumers expecting business conditions to improve over the next six months increased from 23.9 percent to 27.1 percent, while those expecting business conditions to worsen declined from 10.5 percent to 8.4 percent.

Consumers' outlook for the future labor market was also more upbeat. The proportion expecting more jobs in the months ahead increased from 20.9 percent to 24.8 percent, while those anticipating fewer jobs declined from 13.6 percent to 12.2 percent.

The percentage of consumers expecting their incomes to increase improved from 19.2 percent to 21.5 percent, while the proportion expecting a decrease declined from 8.1 percent to 7.0 percent.

The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen. The cutoff date for the preliminary results was March 16.

© 2017 Florida Realtors

Florida a Top State When Comparing Taxes Paid to Services Received

Fla. a top state when comparing taxes paid to services received

TALLAHASSEE, Fla. – March 28, 2017 – If ROI (return on investment) is applied to taxes, a WalletHub study ranks Florida. third in the nation for the value residents get from the state taxes they pay.

For the analysis, WalletHub says it used 23 metrics to compare the quality and efficiency of state-government services across five categories – education, health, safety, economy, and infrastructure and pollution. It then compared the services to the "drastically" different rates at which citizens are taxed in each state.

The complete report on the U.S. tax landscape, the Best & Worst Taxpayer Return on Investment in 2017, is available online.

In the overall rankings, Florida outshines most other states. It ranks third for overall ROI, and third for "total taxes per capita." In education, it's No. 17; for infrastructure and pollution it ranks at No. 21.

In the "overall government services" comparison, Florida ranks at No. 34.

© 2017 Florida Realtors

Homeownership Hits 50 Year Record Low

Homeownership hits 50-year record low

BERKELEY, Calif. – March 27, 2017 – Over the past 10 years, homeownership rates in the U.S. stumbled, wiping out more than three decades of increases. Overall, the national homeownership rate dropped from a peak of 69 percent in 2004 to an average of 63.4 percent in 2016.

Rosen Consulting Group (RCG) estimates that more than $300 billion would have been added to the national economy if the homebuilding industry alone returned to a more normalized level in 2016, representing a 1.8 percent boost to GDP (gross domestic product), according to a new report, Homeownership in Crisis: Where are We Now?, released by Rosen Consulting Group and the Fisher Center for Real Estate & Urban Economics, Haas School of Business, University of California, Berkeley.

"Bolstering homeownership in a safe and sound way is not just about helping households secure financial stability, but may be the single most important factor in returning the United States to a path of robust economic growth," says Ken Rosen, chairman of Rosen Consulting Group and UC Berkeley's Fisher Center for Real Estate & Urban Economics. "This report highlights the current state of homeownership and the many factors that contributed to the plunge in homeownership rates during the past decade."

Compared with pre-recession peaks, homeownership declines were largest among minority households, young adults, one-person households and single-parent households.

National homeownership trends: Key findings

• As of 2016, the African American homeownership rate dropped to 41.5 percent, falling by 7.6 percentage points from the previous peak – the largest decline of any major racial group and 30 percentage points lower than white household homeownership. African American homeownership declined even as the total number of African American households increased by 2.7 million (19.8 percent) since 2005.
• By age, young adults were hit hardest by homeownership declines. The homeownership rate for households aged 25 to 29 years old dropped by 10.9 percentage points to 30.9 percent in 2016.
• The homeownership rate for households aged 30 to 34 years fell by 12.0 percentage points to 45.4 percent compared with the pre-recession peak.
• In 2015, the homeownership rate for single-parent families was 48.2 percent – 31 percentage points below married family homeownership rates. One person households performed only slightly better with a homeownership rate of 52.2 percent, 27 percentage points lower than married families.

Why the plunge in homeownership?

• More than 9.4 million homes were lost in the foreclosure crisis through short sales and deed-in-lieu transactions from 2007 through 2015. Access to easy, yet unsafe, credit in the form of non-traditional mortgage products was a major factor.
• After the crisis, lenders moved in the other direction, severely tightening access to safe and affordable mortgages. Since 2010, lending to applicants with credit scores ranging from 620 to 660 retreated sharply and loans to homebuyers with credit scores below 700 declined to 27 percent of first-lien mortgages in 2014, down from 33 percent in 2010. As of third quarter 2016, the median credit score for conventional mortgages was 760, up from 707 in the fourth quarter of 2006.
• The rise in student debt is another factor. Total student debt nationwide quadrupled since mid-2004 to approximately $1.3 trillion, with both the number of borrowers and the average debt load rising, making it harder for many young households to afford homeownership.
• Following multiple years of rising rents and limited income growth, cost-burdened renter households, defined as those paying more than 30 percent of income toward rent, increased by 3.6 million, which lowered the ability to save for a downpayment.
• The overall pace of household formation decreased sharply following the recession, reducing demand for all types of housing. An estimated 3.4 million additional households would have formed between 2008 and 2015 if household formation had remained on pace with the long-term average.

© 2017 Florida Realtors

Most Millennials Plan to Buy First Home in Next 5 Years

Most millennials plan to buy first home in next 5 years

NEW YORK – March 24, 2017 – More than four in five (80%) millennials in the United States who don't own a home intend to buy in the next five years, according to recent HSBC Group research.

HSBC Group's Beyond the Bricks – an independent consumer research survey of 9,000 people in nine countries worldwide including 1,009 respondents in the U.S. – found that homeownership is a dream deferred but not dead for many millennials around the world who name slow wage growth and housing price inflation as the greatest barriers to purchasing a home.

The report also reveals the need for better financial planning as another significant hurdle for millennials.

According to David Gates, U.S. head of mortgage origination and sales for HSBC: "This study highlights that young people strongly value homeownership, yet there are significant challenges to making the dream a reality for millennials around the world. The perfect storm of stagnating salaries and rising house prices, paired with the need for improved financial planning can make buying a home a deferred reality."

Nearly three-quarters (71%) of millennials are saving more money for a deposit and waiting to earn a higher salary before buying a property, the report finds.

Millennials face significant challenges when it comes to housing affordability. With an expected 1.9% increase in salary growth expected in 2017 and average property prices climbing by 4.8% last year, the dream of owning a home remains a challenge for many.

Of the 71% of millennials who seek to both save and earn more money, 49% feel they are being held back because they cannot afford to buy the type of property that they would like.

More than half (57%) of millennials who bought a home in the last two years ended up spending beyond their initial budget.

The report also finds that many millennials do not have their house in order when it comes to financial planning for a home purchase. Among non-owners intending to buy a home in the next two years, nearly one in three (32%) have no overall budget in mind and a further 54% have only set an approximate budget. As a result, 57% of millennials who bought a home in the last two years ended up overspending their budget.

On the other hand, the millennial generation is willing to consider making big sacrifices to afford a home. Among non-owners intending to buy, 55% would consider spending less on leisure and going out, 41% would consider buying a smaller than ideal place, and 27% would even be prepared to delay having children.

Financial support from parents can make a big difference when saving for a home, and 28% of millennials who bought their own home turned to the "bank of Mom and Dad" as a source of funding.

HSBC research identifies four actions that millennials can take to help make their homeownership dream a reality:

• Plan early and don't underestimate the deposit
• Budget beyond the purchase price to account for extra costs other than the home purchase
• Consider what sacrifices you can make to save more and faster
• Get a full view of your finances and find a home loan that suits your needs

Millennials are defined as those born between 1981 and 1998. The findings are based on a survey of homeowners and non-owners aged 18 or older from a nationally representative online sample in eight countries and a nationally representative face-to-face sample in the UAE. The research was conducted by Kantar TNS in October and November 2016.

© 2017 Florida Realtors®