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Palm Coast, FL

Palm Coast Just Sold Homes Data ~ January 2010

Palm Coast/Flagler County Real Estate Martin Collins & Kristi L. Ross: Real Estate Agent in Palm Coast, FL

Just sold information is a useful tool in determining the current health of the Palm Coast Real Estate Market. We break down the information into neighborhoods as we believe that real estate is not just local but hyper local and different subdivisions are affected in their own unique ways. We prefer to go that extra step and provide detailed information that other's don't. We also like to look at the price per square foot numbers of recent sales to help gage the healthiness of a neighborhood's real estate values. It is currently less expensive to purchase an existing home in Palm Coast than to build new. Homes in January of 2010 are selling at deep discounts to replacement costs.

Read complete Palm Coast ~ Flagler County Market Reports Here

Palm Coast Sold Homes

Palm Coast Hot Properties Newslletter

Palm Coast Home Values


Palm coast Market ReportsPalm Coast Property Search




This information is provided as a courtesy of Martin Collins & Kristi Ross of Prudential Warren Real Estate in Palm Coast, Florida. If you would like more detailed information, like to list your property and get it sold or are a buyer looking to purchase in Palm Coast...we would be happy to assist anyway we can. We believe information is power and are advocates of consumer empowerment in Real Estate transactions and searches.

Hammock Beach, Ocean Hammock & Yacht Harbor Marina Market Report ~ January 2010

Palm Coast/Flagler County Real Estate Martin Collins & Kristi L. Ross: Real Estate Agent in Palm Coast, FL

It is very easy to do market statistics when there is zero to report on the sales side. There were no sales of any property in Hammock Beach, Yacht Harbor Marina or Ocean Hammock in the Month of January….zip, zilch, nada. I would say this is an indication that the properties are still overpriced in the eyes of buyers…however, there do look to be some excellent deals on....READ MORE

Hammock Beach Real Estate

Palm Coast Hot Properties Newslletter

Palm Coast Home Values


Palm coast Market ReportsPalm Coast Property Search



This information is provided as a courtesy of Martin Collins & Kristi Ross of Prudential Warren Real Estate in Palm Coast, Florida. If you would like more detailed information, like to list your property and get it sold or are a buyer looking to purchase in Palm Coast...we would be happy to assist anyway we can. We believe information is power and are advocates of consumer empowerment

Palm Coast ~ Hammock Dunes Market Report ~ Luxury Condo sells for 44% off list price

Palm Coast/Flagler County Real Estate Martin Collins & Kristi L. Ross: Real Estate Agent in Palm Coast, FL

Hammock Dunes Market Report ~ January 2010

January was a slow month for closed sales in Hammock Dunes. O homes and 0 lots were sold while 3 condos did close sale, but at a very significant price discount and after being on the market for an average of 588 days…yikes! I want to take a closer look at the condo sales in Hammock Dunes in January due to the deep discounts off the last list price.

11 Avenue De La Mer # 1603 Hammock Dunes

A 2/2 oceanfront condo featuring 1490 living square feet sold for...READ MORE

Hammock Dunes Condos

Palm Coast Hot Properties Newslletter

Palm Coast Home Values


Palm coast Market ReportsPalm Coast Property Search




This information is provided as a courtesy of Martin Collins & Kristi Ross of Prudential Warren Real Estate in Palm Coast, Florida. If you would like more detailed information, like to list your property and get it sold or are a buyer looking to purchase in Palm Coast...we would be happy to assist anyway we can. We believe information is power and are advocates of consumer empowerment in Real Estate transactions and searches.

Palm Coast Waterfront & Flagler Beach Homes Market Report ~ January 2010

Palm Coast/Flagler County Real Estate Martin Collins & Kristi L. Ross: Real Estate Agent in Palm Coast, FL

Interesting little tidbit about January’s real estate stats. Check out the price discount average off of the last list price for the OceanView/Front category. 38% off last listed price? hmmm…that is a pretty significant discount. So let’s dig into it a bit deeper. There were only 2 sales in this category for January.

2023 S. Central Avenue ~ Flagler Beach, Florida

The first sale was in Flagler Beach @ 2023 S. Central Avenue. The House is small, only 784 square feet and was advertised as Oceanview. The house was on the market for 1 day before going under contract and was sold and listed by the same company. Listed as a short sale for....READ MORE

Palm Coast Waterfront homes

Palm Coast Hot Properties Newslletter

Palm Coast Home Values


Palm coast Market ReportsPalm Coast Property Search




This information is provided as a courtesy of Martin Collins & Kristi Ross of Prudential Warren Real Estate in Palm Coast, Florida. If you would like more detailed information, like to list your property and get it sold or are a buyer looking to purchase in Palm Coast...we would be happy to assist anyway we can. We believe information is power and are advocates of consumer empowerment in Real Estate transactions and searches.

Thinking of Making an Offer on a Short Sale? What You Need to Know

Palm Coast/Flagler County Real Estate Martin Collins & Kristi L. Ross: Real Estate Agent in Palm Coast, FL

Courtesy of Martin Collins & Kristi Ross

Prudential Warren Real Estate ~ Palm Coast, Florida

Short Sale Buying Guide:

Are you looking to buy a new home? Are you thinking that now's a great time to find bargains? That's true, but it pays to know a little about the seller's situation before you make an offer.

If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller's lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a short-sale purchase.

You're a good candidate for a short-sale purchase if:

·

You're very patient.

Even after you come to agreement with the seller to buy a short-sale property, the seller’s lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.

Your financing is in order.

Lenders like cash offers. But even if you can’t pay all cash for a short-sale property, it’s important to show you are well qualified and your financing is set. If you're preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.

You don’t have any contingencies.

If you have a home to sell before you can close on the purchase of the short-sale property—or you need to be in your new home by a certain time—a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you're serious about purchasing a short-sale property, it's important for you to have expert assistance. Here are some people you want to work with:

Experienced real estate attorney.

Only about two out of five short sales are approved by lenders. But a good real estate attorney who's knowledgeable about the short-sale process will increase your chances getting an approved contract. Also, if you want any provisions or very specialized language written into the purchase contract, a real estate attorney is essential throughout the negotiation.

A qualified real estate professional.

You may have a close friend or relative in real estate, but if that person doesn’t know anything about short sales, working with him or her may hurt your chances of a successful closing. Interview a few practitioners and ask them how many buyers they've represented in a short sale and, of those, how many have successfully closed. A qualified real estate professional will be able to show you short-sale homes, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender. (All MLSs permit, and some now require, special notations to indicate that a listing is a short sale. There also are certain phrases you can watch for, such as “lender approval required.”)

Title officer.

It’s a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. If there are multiple lien holders (e.g., second or third mortgage or lines of credit, real estate tax lien, mechanic’s lien, homeowners association lien, etc.), it's much tougher to get that short sale contract to the closing table. Any of the lien holders could put a kink in the process even after you’ve waited for months for lender approval. If you don’t know a title officer, your real estate attorney or real estate professional should be able to recommend a few.

Some of the other risks faced by buyers of short-sale properties include:

Potential for rejection.

Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you’ll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.

Bad terms.

Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you’ve already negotiated, which may not be agreeable to you.

No repairs or repair credits.

You will most likely be asked to take the property “as is.” Lenders are already taking a loss on the property and may not agree to requests for repair credits.

The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.

* Not all real estate practitioners are REALTORS®. A REALTOR® is a member of the NATIONAL ASSOCIATION OF REALTORS® and is bound by NAR’s strict code of ethics.

Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA.

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Copyright National Association of REALTORS®. Reprinted with permission.