Company Secures $110 Million in New Funding for Operations. Ongoing Operations Will Continue With Minimal Interruption. Palm Coast, Florida – June 10, 2009 – (Updated June 20, 2009) Crescent Resources filed for protection from creditors today under Chapter 11 of the U.S. Bankruptcy code. Crescent is the parent of Palm Coast’s second largest real estate […]
Latest building schedule response from Epic Theatres is not encouraging. Palm Coast, Florida – June 9, 2009 – The 14-screen movie theater and retail complex planned for Town Center in Palm Coast, FL is not coming anytime soon. Epic Theatres applied for a building permit to construct the complex in 2007. For a while, a […]
Developer of Hammock Dunes tower condominiums looking to exit Chapter 11 in 4th quarter of ’09. Palm Coast, Florida – June 8, 2009 – WCI Communities, the developer of tower condominiums at Hammock Dunes, the private Oceanside golfing community near Palm Coast, Florida, filed today a plan to emerge from Chapter 11 bankruptcy for itself […]
Did Duke play the bankruptcy card to force Morgan Stanley into selling back their 49% share of Crescent? Palm Coast, Florida – June 7, 2009 – In September ’06, Duke Energy was "forced" into divesting more than 50% of its real estate subsidiary Crescent Resources. (Crescent owns LandMar Group, Palm Coast’s second largest real estate […]
Three of five Palm Coast/Flagler homes sold for over $500 thousand during May were lender-owned (foreclosed). Palm Coast, Florida – June 5, 2009 – As predicted, foreclosed high-end properties are making their appearance in the local market. Distressed sales (Lender-owned and short sales) are becoming more common among expensive homes and choice building sites in […]
Flagler County suffered damage to infrastructure as a result of the recent deluge of rain which reached 28 inches in some parts of the county. Palm Coast, Florida – June 4, 2009 – Flagler County has received a declaration from the FEMA to be reimbursed for damage to roadways, ditches and bridges for the May […]
Tax credit for new-home buyers and low prices are driving sales. National Association of Realtors®’ pending sales index again on the rise, lead by the Northeast. Palm Coast, Florida – June 3, 2009 – Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time […]
FHA plan will stimulate new home sales and help stabilize housing market Palm Coast, Florida – June 1, 2009 – Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan Friday announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the […]
This video will deflate any confidence you had in the stimulus package. Apparently the watchers are napping on the job. Palm Coast, Florida – June 1, 2009 – Political and societal issues are complex. I refuse to be categorized, but I do admit to having a Libertarian component within me. After watching the following video, […]
Torrential rains flooded homes in Daytona Beach, Holly Hill, and Ormond Beach. Why not in Palm Coast too? Its unique stormwater management system is the reason. Palm Coast, Florida – May 31, 2009 – Recent torrential rains inundated the area for days. Between 16 and 27 inches of rain fell on a concentrated area within […]