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January 2010

Found 4 blog entries for January 2010.

The news continues to be bleak for the luxury real estate market in Boca Raton, Delray Beach, and Highland Beach at the end of 2009 and beginning of 2010.

Last fall I wrote a blog post about the Boca Raton Luxury Market for the six months ending September 30, 2009.  THis is a followup to that previous post.

I have examined the current state of the market for properties in excess of $1,000,000 for the last half of 2009.

Here are the number of sold properties in relation to current listings for each price band for the last six months:

sold_to_current_2h2009_700

Here is an illustration of the current month's supply in each of the price bands:

months_supply_2h2009_700

It is very clear from these illustrations that the luxury market continues to be hammered. While the number of current listings in

1,938 Views, 2 Comments

 Check out this baby just sold by Karen Rothstein!!

 tropic_palms_pool_512

 

I am pleased to announce that Karen Rothstein, one of my buyer's specialists, has successfully closed on a short sale for her investor buyer.

The property is a single family five bedroom, three bath pool home in Tropic Palms in Delray Beach. It is a waterfront property with a beautiful view and dock with access to Lake Ida and Lake Eden.

The house closed for $279,000 in a short sale where the lender accepted a lower price in lieu of having to foreclose on the property. This house sold to the previous owner for $735,000 in December of 2005! It is a great property and our buyer was able to pick this house up for a great price!

I am proud to say that Karen Rothstein is a great Buyer's Agent, she

1,847 Views, 0 Comments

New listing alert! Great 4 bedroom house in the sought after community of Colonnade. Just listed!!!

MOTIVATED SELLER HAS PRICED THIS HOUSE RIGHT! FANTASTIC COLONNADE LOCATION JUST STEPS FROM BOCA TIERRA PARK. ENJOY YOUR NEWER CHEF'S KITCHEN WITH WOOD CABINETS, GRANITE COUNTERS,PULLOUTS AND GREAT APPLIANCES! ADDITIONALLY, THERE IS AN ENORMOUS DINING/ LIVING ROOM WITH VAULTED CEILING OPENING TO THE LARGE COVERED PATIO AND POOL AREA, AS WELL AS A DEN/FAMILY ROOM WHICH IS OPEN TO THE KITCHEN. THE STACK BEDROOMS INCLUDE A SPACIOUS MASTER RETREAT AS WELL AS THREE MORE NICE-SIZED BEDROOMS AND A LARGE BATH. HOME HAS TWO AND A HALF BATHS TOTAL, FOUR BEDROOMS, PLUS A POOL AND IS PRICED TO SELL WITHOUT THE HASSLE OF A SHORT SALE! BEST DEAL IN COLONNADE! A-RATED

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There were a total of 24 home sales that closed in Montoya Circle Boca Raton in 2009. That's a decline of about 20% from those closed in 2008. Montoya Circle, like the rest of the Boca Raton and Palm Beach County area, felt the impact of the recession and prices have declined sharply from the peak of Summer of 2006 and have even declined sharply over the 2008 average prices. Several of the sales have been short sales and foreclosures, and the general Boca Raton market conditions prevail in Montoya Circle. The community is characterized by its proximity to the popular Boca Raton Synagogue and continues to attract residents that require a location which is walking distance to the synagogue. However as in the past many people moved to the area from the New

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