Centex Destination Properties pulls plug on local condo hotel at the same time it sells the commercial construction division that was building the project. February 1, 2007 – In surprise dual announcements, Centex Destination Properties, a division of Centex, withdrew its permit for the fourth and largest building in the new Palm Coast Resort project, […]
Colbert Lane project appears to be on hold. Site development work has stopped February 1, 2007 – A large parcel on the west side of Colbert Lane about one mile north of SR 100 was being developed by Masterpiece Homes. Site development began in 2006 but seems to have stopped. Heavy duty construction equipment previously […]
Potential real estate investors need to understand that the housing market is not like the stock market. January 26, 2007 – Buy 10,000 shares of Microsoft for $30.25 per share, and it’s reflected instantly on trading boards around the world. Contract to buy an existing home for the same $302,500 and the result is not made public until […]
When sellers get desperate, fraudsters find a target rich environment. January 22, 2007 – Stories are surfacing about a mortgage fraud boom, not just in Florida but in all states. Mortgage fraud occurs when somebody lies or misrepresents a fact on a statement that a lender uses to make a loan. Banks and mortgage lenders […]
Impact fees, inspection fees, administrative fees, and utility connection fees account for about $17,000 of the cost of a new Palm Coast home, regardless of its size or value. January 17, 2007 – Impact fees, inspection fees, administrative fees, and utility connection fees account for about $17,000 of the cost of a new Palm […]
The Flagler County real estate market is going through some changes. LandMar may be doing the same. The Flagler County real estate market is going through some adjustments from the run-up over the past three years. Many developers grabbed land in anticipation of future needs, based on the expectations of the times. Now that things […]
Now tell me daytime is brighter than nighttime because of the sun. January 9, 2007 – An otherwise good article in yesterday’s Wall Street Journal was headed “Speculators Helped Fuel Florida’s Housing Boom.” Well golly gee. I’ll bet there were still a few dozen people out there who didn’t know that. Unfortunately they still don’t […]
Press release clarifies current purchase – does not mention future purchases January 5, 2007 – Another update in the developing Ginn – Centex story. Ginn Resorts and Centex Destination Properties issued a joint press release (reproduced in it’s entirety below) to clarify the present status. The release makes it clear that Ginn purchased only the […]
Looks like the bottom is near. Next year should be level with an upturn at year end. January 3, 2007 – Years 2003 through 2005 were notable for their double digit run-up in real estate prices in the Palm Coast, Flagler County, Florida market. Everyone wanted to get on the band wagon. Otherwise normal, level […]
Deal reduced to only a few Flagler County, Florida properties December 28, 2006 – The much talked about deal between Centex Destination Properties and the Ginn Company has unraveled, at least for now. Ginn backed away from everything but the Ocean Hammock Golf Course and the adjacent Lodge, both located along the Atlantic shoreline in […]