Palm Coast Condo Market: Bottom-fishers Getting Fewer Bites
Inventory is down by half. The perception that the market is still glutted with distressed condo properties is wrong. Only 36 of 275 MLS listings are lender-owned or short sales.
Palm Coast, FL – April 13, 2012 – The perception that Palm Coast condominium listings are dominated by distressed properties (lender-owned or short sale) is no longer correct. Inventory is down by half. Only 36 of 275 MLS condo listings are either lender-owned or short sales.
With little fanfare, the condo market has successfully flushed out most of the distressed properties that dominated listings a few years ago. The cleansing proceeded in spite of the general lack of mortgages for condominium purchases. All but two of the 31 units sold via MLS during March were reported as cash sales.
But perceptions are slow to change. Most people think that the bottom-fisher is still trolling in a target rich environment. Not so. Check out the numbers.
|
|
Total Listings |
Lender/Owned |
Short Sales |
|
Aliki Gold Coast |
5 |
0 |
0 |
|
Bella Harbor |
2 |
2 |
0 |
|
Brookhaven |
13 |
0 |
0 |
|
Canopy Walk |
10 |
1 |
0 |
|
Cinnamon Beach |
20 |
0 |
2 |
|
European Village |
12 |
3 |
3 |
|
Fairways |
5 |
0 |
0 |
|
Riverview |
1 |
0 |
1 |
|
Hammock at Palm Harbor |
6 |
0 |
0 |
|
Hammock Beach Ocean Towers |
15 |
0 |
1 |
|
Hammock Beach Club |
22 |
1 |
3 |
|
Hammock Beach Villas |
12 |
0 |
2 |
|
Hammock Dunes Cambria |
3 |
0 |
0 |
|
Hammock Dunes Casa Bella |
16 |
1 |
0 |
|
Hammock Dunes La Grand Provence |
10 |
0 |
2 |
|
Hammock Dunes Portofino |
6 |
0 |
0 |
|
Hammock Dunes Savona |
7 |
0 |
1 |
|
Harborside Village |
3 |
1 |
0 |
|
Marina Bay |
3 |
0 |
1 |
|
Marina Cove |
8 |
0 |
1 |
|
Nautilus |
7 |
0 |
0 |
|
Ocean Beach Club |
3 |
0 |
0 |
|
Ocean Marina |
3 |
0 |
0 |
|
Ocean Palm Villa |
2 |
0 |
1 |
|
Ocean View Manor |
4 |
0 |
0 |
|
Palm Club |
5 |
0 |
0 |
|
Palm Coast Resort |
6 |
0 |
1 |
|
Palm Pointe |
2 |
0 |
0 |
|
Pine Lakes Villas |
4 |
0 |
0 |
|
Plaza Caribe |
2 |
0 |
0 |
|
Shangri-La |
1 |
0 |
0 |
|
South Beach |
2 |
0 |
0 |
|
Surf Club |
12 |
0 |
1 |
|
Tidelands |
7 |
1 |
1 |
|
Woodhaven |
7 |
0 |
0 |
|
Yacht Harbor Village |
6 |
0 |
1 |
|
All Condominiums |
275 |
11 |
25 |
European Village
Can anyone tell me why European Village condos are so inexpensive?
We are looking at investing in a unit, what are the pros and cons?
CONDO’S
HOW ABOUT RIVERVIEW IN GRAND HAVEN. I WORK AT THE GOLF COURSE AND KNOW THERE ARE SEVERAL SHORT SALES AND FORCLOSURES.
Reply to Don
Yes, there have been foreclosures and short sales, but in the past. Currently, there are NO Riverview units listed for sale in MLS; which is precisely the point of my article. Most of the distressed properties have been flushed through the system with plenty of eager buyers ready to quickly snatch new arrivals.