Where Is Our Money Going? – “Real Estate Matters” March 14, 2026 Video Podcast

For more than 11 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.

Palm Coast City Council spends more than the property’s total Assessed Value on studying renovation and repurposing options for Fire Station 22. 

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 3-14-2026

Recorded 3-12-2026

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

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

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 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

Early March MTD stats –

75 SFR homes sold – at a median price of $429,000. DOM is 45. Last March, 247 SFR homes were sold at a median price of $356,900. DOM=62 last year

2 homes have been sold for $250K or less, 1 for cash and DOM of 9

Only 9 sold for less than $300K. Only one cash sale

6 homes have been sold for $1M+ with DOM =20. Five were cash sales. 15 of the top 25 sales were cash.

1,208 homes are listed with MLS vs 1,326 a year ago. DOM=72    

364 homes are pending vs 293 last year. DOM=57. Median list price is $389,945.

Takeaways

Last month we noticed a decided drop in the $1M+ market while the $250K and under market surged. March seems to be headed in the opposite direction. It’s still early in the month, but if that trend holds, expect an increase in the median price. If so, it doesn’t necessarily mean that prices have risen. More likely, it will signal a shift in the market, favoring luxury homes over lower-priced investment properties and first-time homeowners.

Today’s topic:

Where is our money going?

We typically use our own money to cover daily expenses, pay for healthcare, and save for retirement.  How differently would we behave if we could simply reach into someone else’s pocket whenever we felt a need for something? Well, we’d probably act a lot like politicians.

Examples:

While our public school enrollment declines with increased migration to homeschool and private options, the Flagler County School District continues to hold onto several prime real estate parcels that are unlikely candidates for future school expansion. Here are two glaring examples:

• 20 acres in The Hammock with both A1A and Intracoastal frontage assessed at $1,769,350
• 4 acres at 1 Corporate Drive assessed at $2.406.077

While Holland Park is well used and much appreciated, tales of the splash pad project management and lawsuit fiascos and artificial turf costs are painful to hear. I’m sure Florida Park residents are delighted to see the increased traffic on their street.

Let’s talk about Fire Station 22. In 2025, the City Council approved an expenditure of $129,270 for an engineering study for design alternatives for the vacant “historic structure” – I’m 24 years older than the station. At a recent meeting, an additional $236,000 was approved for a more detailed study. That’s a total of $355,270 to study the potential modifications and repurpose of a property that is assessed for only $323,701.

The modifications and expansion of the city’s Community Center cost $8M ($105M in inflation adjusted dollars), even though the inadequate parking problem was predictable at the time. The center is currently assessed for $5.6M.

And then, there’s the grant money that seems to enter the jurisdiction free on board but typically does not cover predictable ongoing maintenance or replacement reserves.

Overreliance on government grants. The money is already our money. It travels from our pocket to Washington, where it’s divided and dolled out to the states, who hand it back to us with strings attached, only after an administrative charge is carved out at each level.

Housing affordability

Japanese companies are moving into the production builder market. They have a penchant for efficiency and take a long view of the market.

Their innovations will likely lead to a hybrid model where factory efficiencies and quality improvements can be realized.

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

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