Saltwater Canal Home in Palm Coast, FL Closes in June for under $100 a square foot – Including the LOT!!!!!!

Wow..wow…wow…wow..wow!!!!!

On June 30th, 2009, a Palm Coast Saltwater Canal home with an pool, 80’ of bulkheaded waterfrontage, two canals off the Intracoastal Waterway, 3 Bed/2Bath/2Car garage and over 1980 living square feet under heat and air…Closed Sale for $185,000….no that is not a TYPO….it Closed sale for $185,000…..that is under $100.00 per square foot with the LOT!!!!

If you break out the lot and figure it at $81K…the price of the sale of the lot at 6 S. Coral Reef Ct..(NO…this is NOT across from duplexes) in March of 2009 according to the public records in the Flagler County Taxrolls …that makes the square foot price for this home $52.31 per square foot….huh???? OH and did I mention…it has an in -ground pool…..YUP!!!! Wow…wow…wow!!!!

Now, the reason that this is so significant, this was NOT a distressed “Short Sale” or “Bank Owned Property” according to the original MLS Listing. That means…IT IS A COMP for future appraisals on the canals!!!

I would also like to point out that the original list price on this house was $297,900 and the last list price prior to closing was $239,800. So that equates to a 48% discount off of the original listed price and a 33% discount off the last listed price. hmmmm....like I always tell my customers....there is no such thing as an offer that is too low...you never know a sellers motvation until you submit an offer..and you never get anything unless you ask for it.

This is great news for buyers working with a REALTOR as a buyer’s agent, that knows this market, will give you a huge advantage when it comes to negotiating with the seller.

For sellers…this is not good news at all. Especially with the new HVCC program regarding appraisals. It is already being discussed that the HVCC is causing major problems for home valuations and killing up to as many as an estimated 25% of all currently pending home transactions. There are 33 saltwater canal homes currently pending or contingent sale…it will be very interesting to see what the final sale prices are on these homes…. when and IF they make it to closing.

Are you ready to start your search for your future home??

Featuring everything from bank-owned foreclosed homes under $100K up to luxurious Oceanfront Homes and Condominiums...you will find everything you need in one place.

Kristi Ross - REALTOR - With over 14 years of experience in buying, selling, managing & investing in real property personally in addition to being a very active, full time REALTOR in Palm Coast/Flagler County, Florida for 7 years ....I have learned that information is power and I am an advocate for customer empowerment.

You can sign up to be on the list of first to know when properties meeting your ideal criteria are newly listed, go pending or are sold.