Flagler County, FL Condos

Canopy Walk ICW View



Riverview at Grand Haven



Hammock Beach Club


It's no secret that we are in a challenging real estate market.  The papers say for "the past two years."  But ask any seasoned broker or agent in Flagler County, FL and you will get a different answer.  It was the 4th Quarter of 2005 and "something" was happening... The market had been on fire - ridiculously so - for at least five years.  We were on track to be like Southern California, with $1,000,000 median prices!  But there was this ominous... palpable feeling that it was all about to unravel.  And it did.

It's fair to say that in the five years hence, our median prices have fallen at least 50% for most properties in Palm Coast, Flagler Beach, The Hammock, Bunnell, and all of Flagler County, Florida.  It is all too clear, remembering the Gala Grand Openings with fist-sized jumbo shrimp, champagne, helicopter rides, lottery drawings, waiting lists and people falling over each other to write huge deposit checks.  We were all such smart "investors!"

And Condos have fallen the hardest.  Recall the openings of:  Grand Haven's Riverview and River Club, Ginn's Hammock Beach and Yacht Harbor, The Palm Coast Resort, all of the new Hammock Dunes offerings, the Surf Club, European Village, Canopy Walk, Cinnamon Beach, Tidelands.  $500,000, $750,000, $1,000,000, $2,000,000, $3,000,000!  It was nuts, but it was such fun!  Until it ended.  It's no fun to be the guy who anted up $775,000 for his water view pad, only to see the unit next door sell as a $295,000 short sale or foreclosure!

Here's the rub with condos.  When the economy goes nuclear, so do condos.  If the guy next door hits hard times and loses his house, it's a shame, but doesn't directly affect you.  But if the condo unit in your building goes down... there's one less contribution per month to the general fund... then the cash reserves go... then the grass gets cut twice a month instead of once a week... then the pool gets a little dirty... then they try an assessment on the good folks who are faithfully paying their condo fees... then the association goes on the mortgage bankers "high risk" list and potential buyers can't get a loan...  You see where I'm going here.

Now the good news...  There are lots of motivated sellers and condo prices are getting closer to where they need to be to start clearing the inventory.  There are deals to be had.  Sure, some sellers are still "mad as hell and they aren't gonna' take it any more... and they aren't gonna' give this place away."  They are the ones who skipped Economics 101 the day they covered "The Law of Supply and Demand."  However, there are plenty who understand the realities of the current (and foreseeable future) market dynamics. 

A seasoned, local Real Estate Agent has this one very critical job to do today: 

Put Sellers who want to sell... and Buyers who want to buy... together.  Then help them remove the emotion and negotiate a deal that offends neither... and satisfies both!    If this fits your situation, my background and skills could be what you are looking for.  I'm at Parkside Realty Group, LLC and would welcome an opportunity to meet you.  Cell:  386-931-1987.