High and dry is what the next buyer will be.
Palm Coast, FL (PRWEB) April 27, 2007
Land speculation and dubious deals are still part of Florida's real estate landscape, reports GoToby.com, a real estate news and information website in Palm Coast, Florida.
Flagler Estates is an unrecorded subdivision in the northwest corner of Flagler County with 1,935 lots. According to the Flagler County website, "No facilities or services are available, or scheduled to become available, in Flagler Estates. Much of the property is low lying and subject to periodic inundation. The streets are not dedicated to the public nor are they deeded to a private or public maintenance entity. Because of the above conditions, Flagler County will not issue building permits for these lots."
Yet, sales of Flagler Estate lots continue. A handful of names account for a disproportionate share of the transactions. Some listing information is misleading or incomplete. One web listing at $45,000 contains no disclosures and describes the lot as high and dry. "High and dry is what the next buyer will be." comments Toby Tobin, Publisher of GoToby.com.
Tobin notes that "the current median selling price for a single family residential lot in the nearby city of Palm Coast on a paved street, with water, sewer, electricity, cable, police and fire protection, schools, and nearby shopping is $50K. Some recent sales have been as low as $30K. And you can build on them now." Full Story
About GoToby.com LLC:
GoToby.com is the on-line news source for Palm Coast and Flagler County Florida's residential and commercial real estate markets. It is the central source for news, commentary, newsletters, articles, property listings and interesting rumors. Site visitors can also receive a referral to a real estate agent from a selected list.
Don "Toby" Tobin, Publisher
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