A year ago the University of Florida did a study of housing trends in Flagler County. At the time they were projecting a housing shortage in Palm Coast by the end of 2012 in early 2013. Quite frankly I found that possibility difficult to imagine. But I think it is time that we consider it a legitimate possibility. This morning I was taking look at some of our local housing statistics. The first very noticeable thing is that the number of single family homes for sale in Palm Coast now stands 844. When I first began selling home in Palm Coast in 2007 there were over 3,000 home for sale. One of the specialty market I follow most closely at waterfront homes. The current inventory of salt water canal homes in Palm Coast now stands at 89. This is down from 150 just two years ago.

What does this mean for home buyers today? I still don't believe that you are at great risk of the market running away from you because as prices start to increase even slightly owners who are currently on the sidelines are likely to become sellers. However, selection of available homes will become tighter and it is going to become increasingly difficult to find the home with all the features that you want.

Flagler-Volusia county line is now a key border in the new regulations.

Given Florida's recent history with redfish -- a severe overfishing status and emergency temporary harvest bans in the 1980s -- new rules taking effect today that increase bag limits in parts of the state are being heralded as a major milestone for this iconic fish.

Flagler-Volusia county line is now a key border in the new regulations.

Redfish daily bag limits increase from one to two fish per person, but only in Flagler County north to the Georgia border, and in the Panhandle.

State rules change today for redfish and trout:

REDFISH RULES –– Effective Feb. 1, redfish move from statewide management to regional management. In the northeast and northwest regions, anglers can take two reds per person per day in the 18- to 27-inch slot limit. Elsewhere, bag limits are one per person. Statewide, there is now a vessel limit of eight redfish. And the number of redfish that can be transported on land is six per person.

TROUT RULES –– Effective Feb. 1, the seasonal recreational fishing closures in February in North Florida and Nov. - Dec. in South Florida are gone. The three management zones are split into four. The bag limit in northeast Florida increases from five to six fish. One fish over the 15- to 20-inch slot limit can still be kept as part of that limit. Commercial season lengths increase statewide and commercial vessel limit increases from 50 to 150 fish with two fishermen aboard.

SOURCE: Florida Fish and Wildlife Conservation Commission

Studying the market trends can help you determine how to best price your home when listing it for sale and how to position your offer when you are ready to buy. Here are some interesting things I have noticed in the past six months.

Bank owned homes sell for more and they sell the fastest. The median discount on the asking price of a bank owned home is less than one percent. Frequently there is no discount at all. Nearly 50% of all foreclosed homes in Palm Coast and Flagler Beach sold for more than the asking price. How much more? In one extreme case a home recently sold 32% above the asking price. The typical time from list to close of on a bank owned home is 42 days. The short escrow period reflects the fact that the majority of REO transactions are cash deals and because the almost always vacant property quick closings are easy to arrange.

The typical discount on a short sale is 4% off the list price. The average days on market for a short sale is 215 days. which includes that negotiation period with the seller's lender.

Finally, in non-distressed sales the median discount to the list price is 7% and average days on market is 95 days.

After evaluating over 100 master planned communities in the Southeast, RealEstateScoreCard.com announces its 2012 BLISS AWARD winners and Grand Haven in Palm Coast was named best community if Florida. Here is part of what RealEstateScoreCard had to say:

Located on the west side of the Intracoastal Waterway, this established waterfront and golf community is only 10 minutes from the award winning Flagler Beaches. Celebrating 10 years, 23 neighborhoods have been substantially built out at Grand Haven featuring all types of home products, the average price at $250k. The community’s curb appeal and parks on the Intracoastal Waterway enhance the bicycling and walking experience. The Jack Nicklaus golf course and Grand Haven Golf Club were recently acquired by Escalante Golf taking the financial stress away from property owners. Community amenities include tennis, bocce ball courts, fitness center, resort-style swimming pool and children’s playgrounds. Grand Haven has one of the most active social club environments we seen, providing plenty of opportunities for residents to meet new friends and share common interests.

As some one personally lived in Grand Haven for six years I personally attest the fantastic club atmosphere. Grand Haven is still a place I frequently visit. Especially on Friday nights when the community village center is the place to be. Hey, its Friday. Guess I know where I will be tonight.