Question:  Can you tell me what happened at the September meeting regarding short term rentals in Flagler Beach? 

Toby Says:  For those not aware of the issue (read story). I just heard that the meeting was rather conciliatory between those having short term rentals and the city council. They talked about registration and reasonable controls. However, since the meeting, residential owners with concerns have surfaced who are very much against short term rentals. It is still unresolved. A city official suggests that they may have to have a public referendum to settle the issue. If that happens, I predict the short term rental owners will lose on sheer numbers. That’s why our founding fathers formed a representative republic rather than a democracy. And that’s why everyone should be afraid of the proposed “Home Town Democracy” amendment.

Question:  With the Real Estate market in its down cycle, is it a good time to build?  I've been sitting on the fence about building on a lot purchased previously.  How are the home builders doing?

Toby Says:  This is an excellent time to build. Builders are eager for work and are more likely to price competitively. They know that they are competing not only with other eager builders but with the depressed market for existing homes. Both subcontractors and building supplies are also more readily at hand. This should shorten the build time. Be sure to work with an established builder. Take the time to talk with some of their customers. Be sure that the builder you choose is financially sound. Remember, it’s a buyers market for you too.

Question:  I have been waiting for some word concerning the Oct. 16th meeting and the 2nd reading and vote on the Centex proposal to donate the golf course. Any information would be appreciated thanks.

Toby Says:  The PUD amendments upon which the donation was contingent were passed at the second reading with little fanfare. I guess all the steam had gone out of the opposition. The next step is to get the deed and start renovation on the Palm Harbor golf course.

Question:  There must be more than Publix going in on Rte 100.  The clearing is enormous.  Any news of other stores going in there?

Toby Says:  The project, called Beach Village, will be quite large. Publix will probably build a complex similar to the one at the Belle Terre entrance to Town Center, which includes several retail in-line units on either side of the supermarket. Additionally, there are a total of six out-parcels for more commercial buildings (restaurants, banks, etc.) and 15 acres for multi-family housing on the site. I have no news of what new stores may locate there.

Question:  I saw that the new Super Wal-Mart was approved at the latest DRC meeting.  What is the next step they need to get City approval?

Toby Says:  The Super Wal-Mart was approved by the Development Review Committee (DRC) with recommendations, several of them. Typical of this size project, they will work with the city staff members who made the comments through one or more re-submittals. Once Wal-Mart and the city staff are in agreement, the project will be scheduled for a Planning Land Development Review Board meeting. The board will make recommendations to the city council to approve or deny. They almost always add their own recommendations. The final steps will be two readings before City Council (usually at two consecutive meetings). Final approval rests with the council.

Question:  What is going on at 100 and Roberts Road? They are clearing a large parcel of land there.

Toby Says:  The project planned for the northwest corner of Roberts Road and SR100 is named Beach Village. It straddles two jurisdictions, Palm Coast and Flagler Beach. Sewer, water, and storm water are addressed by inter-local agreements between the two cities. The Flagler Beach (east) side consists of a Publix plus four commercial out-parcels fronting SR100. The west portion consists of two commercial out-parcels of slightly more than an acre each fronting on SR100. 15 acres behind these parcels is planned for multi-family units.

Question:  I have begun to see numbers of suits filed citing "Contract Indebtedness". What is behind these suits? 

Toby Says:  As it relates to the real estate business, these suits reflect the fact that things haven’t always turned out well for some people. Builders have failed to complete homes under contract. Real estate salespeople may have made claims that turned out to be unsubstantiated. Interior decorating work may have been completed but not paid. Sales contracts may not be honored. Contracted work may have been substandard, etc. When times get rough, some people become increasingly bold, or sometimes desperate, about pressing their position. 

Question:  Any news on the Ocean Towers at Hammock Beach? I am an owner of a three bedroom condo at the older building.  Toured the new units the other day. They are fantastic. Looks like they have 50-60% still available at non-negotiable prices near $680 a square foot? You would think they would want to move them. Any sales in the last few months?

Toby Says:  I spoke with a Ginn representative about your question. Ginn has adopted a strategy opposite that of Centex. While Centex evaluated the market and adjusted prices accordingly, Ginn has chosen to hold prices firm, even withdrawing some units from the market until prices rebound. The logic behind the strategy is that he does not want to undercut his existing owners. The Ginn real estate sales group is not a member of the Association of REALTORS® They don’t report sales, so I’m unable to obtain sales numbers.

Question:  Any further word on Talbots? I'd love to see some upper end stores come to Palm Coast.

Toby Says:  As far as I can find out, Talbots has decided not to come to Palm Coast at this time.

Question:  Can you tell me what is going on with Centex, Tidelands? Are they in foreclosure? It seems they have dropped the prices on all the condos. Is it wise to buy in there? I need to find a condo, but I am concerned about the stability of Tidelands.

Toby Says:  Foreclosure is not a worry in Tidelands. Yes, Centex has reduced the price of the condos there, but only because it is part of their exit strategy. They want to sell their inventory and, in the current market, reducing price and offering other incentives is the only way to do this. They have been so successful that there are only a few units left. That said, no one can predict the future of the real estate market or the future values of Tidelands condominiums. But the units they are selling are completed, as are the amenities. You are not buying pre-construction. This reduces your risks.