Please watch the above video...it is history. I will make the statement that no one reading this knows what my political views are...so be careful about making assumptions :-) I am putting this out for reference for anyone who cares to learn....
"I kept six honest serving men. They taught me all I knew. Their names are What and Why and When and How and Where and Who." ~Rudyard Kipling
*I feel it is very important to disclose that I personally own property in this community.*
The above numbers reflect an decrease in inventory by about 4% for the month of July. The median list price decreased significantly while the Average sale price dropped a concerning 24%from the previous month. Of the 11 homes currently pending in Grand Haven...50% of the homes are "short sales" The big question is...Will these homes actually ever make it to closing? Only time will tell....please take some time to become familiar and educated with the statistics regarding "Short Sales" One of the pending homes in Grand Haven has been pending for over a year...yes...you read that right...pending for over a year.* Another property has been pending since April 2008.*
Of the 50 homes sold in Grand Haven Since January 1, 2008....
Of the 124 homes currently listed for sale in Grand Haven....
View the 4 Intracoastal Front Homes currently for sale in Grand Haven.
With 124 Single Family Homes currently on the market for sale in Grand Haven and with 7 homes selling in July...we are still at an absorption rate that is clearly in a buyer's favor with inventory levels of Grand Haven Single Family homes being at a supply of 18.5 months.
Once we hit 6 months supply we will be back to a normalized inventory and anything under 6 months of supply is considered a seller's market...so you can see that the absorption rate is a very important number.
Digging into the data for lot sales in Grand Haven for 2008 year to date....it is interesting. A total of 6 lots have sold so far in 2008. Of those 6 lots...all but two of them were a Grand Haven Developer Lot. One lot that was not a Grand Haven Developer Lot was an Intracoastal lot that sold for $430,000 and that was a BANK OWNED LOT. That same lot sold for $725,000 in July of 2006...OUCH!!!!!! And was originally sold by the Grand Haven Developer for $497,000 in 2004. The other Non-Developer Lot was a lake lot in the new Wild Oaks Subdivision on the lake and over 1/2 acre in size. This was also a bank owned lot. The original price paid for the lot from the developer in 2006 for $256,000...another big OUCH!!!!!
I am not sure what will happen going forward - based on the sale of only 6 lots in 8 months and a current inventory of vacant lot listings in Grand Haven at 125...the absorption rate is a whopping 12 years...no not a mistake or typing error....12 years of vacant land inventory in the community of Grand Haven.
Now taking a look at the current inventory stats:
Total Active Grand Haven Townhomes & Condos: 19
*DISCLAIMER: The above statistical data was gathered from the Flagler county MLS and is not to be guaranteed reliable or accurate and is for informational purposes only.
**Disclaimer: The search homes information is provided through IDX. Kristi L. Ross PA, Hawk Beach Realty, My Broker or associates are not in anyway responsible for any mistaken information provided.
****Inventory is continuing to decline in Palm Coast, Florida*****
****Please be careful when analyzing these numbers...in addition to Real Estate being local to State, County & City...it is very, very important to know that Real Estate is also very HYPER - LOCAL within a community....some neighborhoods are getting hit much worse than others even within our small metro town - That is why I feel it is important to break these numbers out and not just lump all Palm Coast/Flagler County home data together - you will find links to specific neighborhood data below****
Please do your homework on "short sales". 61% of our market of Palm Coast Homes listed under $150,000 are being advertised and offered as "short sales" Only 6.4% of the Palm Coast Homes listed under $150,000 are bank owned properties.
We are still in a "buyer's market" with the "Absorption Rate" of non-gated Palm Coast Homes currently at 13.4 months.
Neighborhood with largest short Sale inventory: Lehigh Woods - 86 Homes
Neighborhood with largest Bank-Owned inventory: Pine Grove -9 Homes
*DISCLAIMER: The above statistical data was gathered from the Flagler county MLS and is not to be guaranteed reliable or accurate and is for informational purposes only.
**Disclaimer: The search homes information is provided through IDX and Kristi L. Ross PA, Hawk Beach Realty, My Broker or associates are not in anyway responsible for any mistaken information provided.
(Inventories decreased by 8 % between July & August)
There are currently 3 Bank Owned Homes in the Palm Harbor Neighborhood
There are currently 20 Short Sale Homes in the Palm Harbor Neighborhood
*DISCLAIMER: The above statistical data was gathered from the Flagler county MLS and is not to be guaranteed reliable or accurate and is for informational purposes only.
**Disclaimer: The search homes information is provided through IDX and Kristi L. Ross PA, Hawk Beach Realty, My Broker or associates are not in anyway responsible for any mistaken information provided.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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