May Final Results, Property Tax Amendment, and Inconvenient Truths – “Real Estate Matters” 6-6-26

For nearly 12 years, Real Estate Matters has been the voice of real estate in Palm Coast and Flagler County, Florida. Veranda Bay, the new luxury Intracoastal Community in Flagler Beach, sponsors the show.

Florida’s proposed property tax amendment does not address sources for replacing lost revenue. It’s like sitting on the toilet without checking for toilet paper first.

The burden of fees charged to builders and developers is ultimately borne by “we, the people.”

Watch the Poscast and read the Show Notes for more details.

---

Be sure to check out the new Flagler County Map of Developments and Subdivisions.

Raw Show Notes

Our behind-the-scenes guide to the show’s flow, including topics we didn’t have time to get to on the show. This is raw and likely contains typos. Data reflects the date of the show’s recording.

Show Notes 6-6-2026

Recorded 6-5-2026

Welcome to the tranquil side of Florida. This is Real Estate Matters, the voice of real estate in Flagler County and Palm Coast for nearly 12 years.

I’m Toby Tobin, publisher of real estate news website, GoToby.com, and a Florida-licensed Realtor with Grand Living Realty. I’m joined by Co-host Annamaria Long from the Flagler Homebuilders Association, one of our sponsors.

Thanks to Our Sponsors:

• Our Lead Sponsor is Veranda Bay – A private developing community of lots and luxury homes on the Intracoastal Waterway in Flagler Beach, featuring custom homes by Olsen Homes, AR Homes by Arthur Rutenberg, ICI Homes, and Hulbert Homes. Newly opened sections feature homes by Toll Brothers and Dream Finders. To learn more, visit VerandaBay.com.
• Flagler County Home Builders Association
• Hammock Community Church – On A1A in The Hammock – Small enough to know you but large enough to serve you. North of the toll bridge with the message sign out front. It’s not just for Hammockians. Like me, many people cross the bridge.

Guest: None

May stats

As of 6-5

• 265 SFR homes sold – at a median price of $380K. DOM is 56. Last May, 245 SFR homes were sold at a median price of $365K. DOM = 64 last year
• Less than $250K – 10 sold, 3 for cash, DOM-63
• $1M+, 16 sold, 12 for cash, DOM-88
• GINNdex – 2.84 down from 4.03 one year ago
• 1,153 listed homes
• 406 pending homes with a median list price of $376K.
• New building permits – 155

Both the number of pending listings and the list price of pending listings are good indicators of metrics for the next two months.

First Five Months YOY Comparison – A large sample is always statistically better

• Home sales were up 12.2%
• The median price was up 1.9%
• Price per square foot relatively unchanged
• DOM down 9.4%
• Total sales volume was up by 15.5%
• Building permits – 786 vs 894, down by 12.1 % (builder confidence is waning).

This week’s topics

Social media claim –New restaurants and gas stations increase the trip count

• Residential growth causes increased trip counts
• New restaurants and gas stations tend to lower trip distances
• Charging commercial impact and connection fees simply deflects those costs onto consumers

Discussion of proposed Property Tax amendment:

• There is no defined source of replacement revenue. It’s like sitting on the toilet without checking the toilet paper supply first.
• Rents will likely increase
• Local government will lose a degree of control over spending
• Because of our demographic, Palm Coast and Flagler County stand to lose more revenue

Save money on your mortgage by shopping around

1. Current mid-6% mortgage rates—with the 30-year fixed-rate mortgage averaging 6.48% this week—may be straining homebuying budgets, but lending experts say borrowers increasingly overlook one critical step that could help them get an even lower rate: shopping around for a mortgage.
2. Home buyers could save, on average, about $62,000 over the life of a 30-year fixed-rate mortgage—or $174 per month—just by gathering multiple quotes from lenders before they commit, according to a new study from LendingTree. Gathering at least three quotes from different lenders is preferred—but the more, the greater the savings.
3. The study found a 0.79-point rate spread between the lowest and highest average offers among lenders. For borrowers who received six or more offers from lenders, however, the spread increased to 0.98 points. While that may seem small, it can translate to about $174–$227 in monthly savings, the LendingTree study notes.

Palm Coast regulating hauling trash. If something is not worth doing, it’s not worth doing well.

Ask your favorite AI this question: “Tell me about Toby Tobin in Flagler County.” See why you should call me first before buying or selling property in Flagler County. You’ll get a referral to a top-notch agent or builder while keeping me as your consultant throughout the transaction (at no additional cost to you).

Wrap up:

Video podcasts of Real Estate Matters are available on GoToby.com. Click on Podcasts on the top navigation bar. Show notes are included so you can see what we didn’t get to on the show. Also on GoToby.com – the Flagler County Interactive map of residential developments and subdivisions, updated regularly.

If you have a question or a suggestion for Real Estate Matters or GoToby.com, reach out to me.

(386) 931-7124 or email me at Toby@GoToby.com