October 11, 2025 “Real Estate Matters” Video Podcast – Goodbye Marineland

Real Estate Matters, for more than 11 years, the voice of real estate for Palm Coast and Flagler County. Sponsored by Veranda Bay, the new luxury Intracoastal Community in Flagler Beach.

Marineland Bankruptcy Auction and the Rising Cost of the American Dream

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Raw Show Notes

Our behind-the-scenes guide to the show’s flow, covering many 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 10-11-2025

Recorded 10-10-2025

Welcome to Real Estate Matters, for over 11 years, the voice of real estate in Flagler County and Palm Coast, Florida.

I’m Toby Tobin, the publisher of GoToby.com, contributor to the Palm Coast Observer, and a Florida-licensed Realtor with The Landmark Group at Compass. Co-host Annamaria Long, with the Flagler County Homebuilders Association, is calling in from home today.

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: David Ayers, President and CEO of Flagler Radio, sitting in to keep me company.

Early October

• 62 Homes sold via the Flagler MLS at $394,495 vs 196 homes at $359,495 last September, DOM= 84 this year
• $250K and lower = 11, 6 were cash, DOM 11
• Homes Pending – 303 down from last week
• Median Price of homes pending – $373.300, down from $388,515 last week
• GINNdex is down from 4.9 in July to 4.2
• 30-year fixed mortgage rate is 6.35%

News

Impact fee lawsuit update

Marineland bankruptcy auction

Marineland is set for a bankruptcy auction on October 13. A hearing is scheduled for the 27^th. A stalking horse bid has been accepted from the Hutson Companies, a Jacksonville-based development company.

The bid price is $3.5M with a breakup fee of $70,000 if another party is awarded the sale. One of the provisions is that the successful bidder relocates the dolphin within 90 days.

The current Mexico-based owner purchased the property from the Georgia Aquarium in 2019 for $3,750,000. The property appraiser’s website lists a True Value of $4,376,206. The facility first opened in 1938.

The $5M American Dream

Living the American dream—owning a home, raising kids, retiring comfortably, and maybe throwing in a vacation or two—has never been cheap. Still, a new report from Investopedia presents a striking statistic: Over a lifetime, checking all the traditional boxes now incurs a $5 million price tag.

Investopedia added up the estimated lifetime costs of eight milestones Americans most often associate with the dream: retirement, health care, homeownership, raising two children and sending them to college, weddings, cars, annual vacations, and pets.

In 2024, the median household income was $84,000, or only $2.8M over a lifetime.

Flagler County Residential Development Map

Since a Flagler Live article about the map a week ago, it has had over 6,000 views. See it for yourself at GoToby.com under Recent News. The article introducing the map is dated 9-8. Be sure to bookmark the page. The map will always include the latest updates. Map Link

Chipotle Restaurant

Chipotle has filed a technical site plan with Palm Coast to build a restaurant at the closed gas station property at the corner of Belle Terre and Palm Coast Parkway (adjacent to the Publix that used to be an Albertsons).

That Publix does not have the traditional Publix floor layout. It is reversed because that’s the way Albertson’s laid out their stores.

Speaking of Publix, they are reportedly looking to build a new store at US1 and Matanzas Woods.

How will the government shutdown affect the housing market?

Cannot issue new flood insurance. Could result in the cancellation of sales.

E-Verify not working

No new applications for H-2B visas

No permits from the Army Corps of Engineers

IRS response will delay mortgage applications

Economic data will not be issued

Filler News:

• According to WalletHub, four Florida cities were ranked among the best cities to retire. Orlando #1, Miami #4, Tampa #5, and Fort Lauderdale #7
• Homeownership Costs Have Jumped 26% Over 5 Years as Hidden Expenses Rise. Typical monthly expenses for homeowners surged by more than a quarter in the five years through 2024, a comprehensive new report from the U.S. Census Bureau has revealed.
• The median monthly ownership costs for U.S. homeowners with a mortgage jumped to $2,035 last year, according to new American Community Survey data released by the bureau on Thursday.
• That was up nearly 7% from a year earlier in nominal dollars, and a 26% increase from 2019, when the typical monthly cost for mortgage holders was just $1,609.

Wrap up:

Video podcasts of Real Estate Matters are now available on GoToby.com. Click on Podcasts on the top navigation bar.

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

I’m Toby Tobin and I approve this show.