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Palm Coast Condo Market: Bottom-fishers Getting Fewer Bites

Inventory is down by half. The perception that the market is still glutted with distressed condo properties is wrong. Only 36 of 275 MLS listings are lender-owned or short sales.

By Toby Tobin
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Palm Coast, FL – April 13, 2012 – The perception that Palm Coast condominium listings are dominated by distressed properties (lender-owned or short sale) is no longer correct. Inventory is down by half. Only 36 of 275 MLS condo listings are either lender-owned or short sales.
With little fanfare, the condo market has successfully flushed out most of the distressed properties that dominated listings a few years ago. The cleansing proceeded in spite of the general lack of mortgages for condominium purchases. All but two of the 31 units sold via MLS during March were reported as cash sales.
But perceptions are slow to change. Most people think that the bottom-fisher is still trolling in a target rich environment. Not so. Check out the numbers.
Palm Coast Condo Listings w/Lender-owned and Short Sales

 

Total Listings

Lender/Owned

Short Sales

Aliki Gold Coast

5

0

0

Bella Harbor

2

2

0

Brookhaven

13

0

0

Canopy Walk

10

1

0

Cinnamon Beach

20

0

2

European Village

12

3

3

Fairways

5

0

0

Riverview

1

0

1

Hammock at Palm Harbor

6

0

0

Hammock Beach Ocean Towers

15

0

1

Hammock Beach Club

22

1

3

Hammock Beach Villas

12

0

2

Hammock Dunes Cambria

3

0

0

Hammock Dunes Casa Bella

16

1

0

Hammock Dunes La Grand Provence

10

0

2

Hammock Dunes Portofino

6

0

0

Hammock Dunes Savona

7

0

1

Harborside Village

3

1

0

Marina Bay

3

0

1

Marina Cove

8

0

1

Nautilus

7

0

0

Ocean Beach Club

3

0

0

Ocean Marina

3

0

0

Ocean Palm Villa

2

0

1

Ocean View Manor

4

0

0

Palm Club

5

0

0

Palm Coast Resort

6

0

1

Palm Pointe

2

0

0

Pine Lakes Villas

4

0

0

Plaza Caribe

2

0

0

Shangri-La

1

0

0

South Beach

2

0

0

Surf Club

12

0

1

Tidelands

7

1

1

Woodhaven

7

0

0

Yacht Harbor Village

6

0

1

All Condominiums

275

11

25

 

 

reader comments
Reply to Don
Posted by Toby
Nov 16, 2013, 3:23 pm
Yes, there have been foreclosures and short sales, but in the past. Currently, there are NO Riverview units listed for sale in MLS; which is precisely the point of my article. Most of the distressed properties have been flushed through the system with plenty of eager buyers ready to quickly snatch new arrivals.
CONDO'S
Posted by DON
Apr 18, 2012, 8:04 pm
HOW ABOUT RIVERVIEW IN GRAND HAVEN. I WORK AT THE GOLF COURSE AND KNOW THERE ARE SEVERAL SHORT SALES AND FORCLOSURES.
European Village
Posted by Need Answers
Apr 14, 2012, 11:02 am
Can anyone tell me why European Village condos are so inexpensive?
We are looking at investing in a unit, what are the pros and cons?

 
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Don "Toby" Tobin is a licensed real estate professional affiliated with Watson Realty Corp. Toby is a member of the Flagler County Association of Realtors®, the Florida Association of Realtors, Enterprise Flagler, Flagler Home Builders Association, and the National Association of Realtors.

GoToby.com proivdes real estate news, commentary, and analysis for Palm Coast and Flagler Country Florida, as well as Realtor® referrals and consultation to buyers, sellers, and developers.