Palm Coast FL Real Estate
Why Reside in the Palm Coast?
By Kendall Caputo
Fortune Magazine Ranks Palm Coast A Best Buy!
In a recent story (June 2010) Fortune Magazine ranked Palm Coast one of the five best places in the U.S. to retire. Here is an excerpt:
Last year Bryan and Pamela Blackman of Santa Clarita, Calif., started searching for a place to retire. The couple, both in their early fifties, still have at least five years to go before they stop working. But the bursting real estate bubble offered deals too good to pass up. In the quiet city of Palm Coast, Fla., they found a three-bedroom, 21/2-bath home for $225,000. (The previous owner had paid close to half-a-million dollars.) The price tag was so low that they decided to buy a second home nearby for the same price.
Retirement guides routinely rate Naples and Miami as top spots for snowbirds, but data from Moody's Analytics show that median home prices in those markets could still drop another 26% and 38%, respectively. A more stable alternative? Palm Coast, south of Jacksonville, which has seen the median housing price fall 48% from its peak in 2005.
Palm Coast boasts 10 golf courses and biking and hiking trails in Washington Oaks Garden State Park. Like other Florida residents, Palm Coasters enjoy low vehicle-registration fees and zero state income taxes. "We wanted to get away from the cold Midwestern weather for our second home," says Mike Gill, a 58-year-old Kansas City attorney who recently purchased in Palm Coast with his wife. "Palm Coast fell right in our price range, with the charm and amenities we were looking for."