Do you know your Mullions from your Muntins? Your Girders from your Beams? Your window from your sash?
I'm embarrassed to say that even though I have been a top producing Boca Raton FL Realtor for over ten years, I wasn't even sure about some of these.
Please see the attached article by Arrol Gellner answering some of these questions. I thought it was really interesting! And please post a comment if you have some others to add!
Have a great Memorial Day weekend!
YES.... according to an article on the opinion pages of the Wall Street Journal on May 6, 2008.
The reality is that the market usually shakes out and stabilizes. I am not an economist, but it is clear to me that the reduction in values has some positives. One of the major problems with the Boca Raton real estate market in the past few years is that many people could not afford to buy a home. Local governments worked to create "workforce housing" plans which would enable policemen, teachers, etc to afford homes. This is no longer the case, and with the market declines it is now possible for salaried workers to afford to buy homes in the Boca Raton and Palm Beach County area.
According to the article, the market will improve because "normal people
For the past couple of months, I have felt an increase in activity. I am very optimistic that the real estate market is picking up. My own personal production has increased as well as that of my company. Well now I have the statistics to back up my claims!The number of closed sales of Boca Raton real estate increased almost 40% from March to April. April had 290 closed transactions, with an average time on market of approximately six months and a sale price/list price ratio of almost 89%. Although prices are remaining relatively constant, the number of transactions is increasing and I feel that this reflects the readiness of sellers to accept the current market reality and to price their properties properly. In any case, amidst all of the depressing
I am pleased to announce that I have been accepted as the Realtor member for the Boca Raton chapter of BNI (Business Network International).
BNI is a business networking organization the purpose of which is to network and to pass referrals amongst the professionals. The Boca Raton chapter has over 35 members, all in different professions. Only one member per profession is admitted, and I am very excited and honored to have the opportunity to represent my profession and the interests of my buyers and sellers of real estate to this group. This will benefit my business as I will have the opportunity weekly to reach out to members of other professions to network and share ideas for expanding our businesses.
The Boca Raton chapter is looking for a few more…
I had the pleasure of visiting Azura in Boca Raton today with my company, Lang Realty, and viewing the phenomenal homes being built by one of Boca's premier builders, Gordon Homes. Located on the former grounds of the Polo Fields, on Jog Rd., lies a 92 unit gated luxury enclave. In the midst of Boca's finest country club communities is an option for people who want the luxury and amenities of a club atmosphere without the obligation to equity and dues that country clubs require.
CLICK HERE FOR THE AZURA SITE MAP
There are several quick delivery homes available starting at $1,345,000 for a San Remo model with four bedrooms, 3 and 1/2 baths, library, three car garage, heated pool, spacious family room and covered loggia. Prices go up to just over $4
The Boca Raton real estate market is still characterized by large numbers of inventory and relatively few transactions. In all of March 2008, there were 209 closed sales of real estate with a Boca Raton address. All told, at the end of the month there were 5691 units listed for sale, so this reflects a 27 month supply of homes for sale if they sell at the current rate. I will post these statistics monthly so that we can track the trends and try to predict where home prices are heading.
For more information, please call me at 561.866.7584!
Yes, I know, the home values in Boca Raton and Palm Beach County are still declining. But there is still a strong reason to buy now. Interest rates are lower than ever.
Click here for current rates.
An interesting article by Dan Kadlec in Time Magazine of February 25, 2008 is "must" reading for anyone trying to time the market. Basically, he explains how a drop in housing prices with a concurrent increase in interest rates will have zero effect on a persons monthly payment. Please see the link below for the article.
So, for everyone who is trying to time the market perfectly, this should be food for thought. My feeling is that we don't know how low this market will go, but I do know that the only way to know that you are at the bottom of the market…
I hear this question all of the time... everyone wants to know:
So how is the market in Boca Raton? Are things picking up?
The truth is.... YES.
Even though the news is full of depressing statistics, like in today's Sun Sentinel, I am noticing increased activity. I think that the reason is that Boca Raton area HomeSellers have come to the realization that prices and market conditions have changed, and that if they want to sell they will have to price their properties aggressively, list with a good Realtor who markets extensively, and stage the property so it shows well. Buyers of real estate in Boca Raton, on the flip side, have come out of the woodwork because they are hearing that prices are great. There are some amazing buying opportunities…
I recently attended a broker party with my company, Lang Realty, at the new development One Thousand Ocean on the grounds of the Boca Resort & Beach Club. I was absolutely awestruck at the beauty and quality of this project.
The seven story, 52 unit building will be completed in 4th quarter 2009 and is already 50% sold out. Every home is highlighted by an Ocean or Lake Boca terrace, a private plunge pool, and outdoor kitchen.
On the grounds of the Boca Resort & Beach Club, residents will be able to partake of all of the amenities of this world class resort, including room service and maid service.
Residences range from two story beach villas, ranging from 3000 to 5000 square feet with expansive terraces…
FLORIDA PROPERTY TAX REFORM PASSED ON JANUARY 29, 2008
An amendment to the Florida Constitution was recently passed which will bring about the following changes to the Florida property tax system.
$50,000 HOMESTEAD EXEMPTION: Properties which already have a Homestead Exemption will be automatically upgraded to the new $50,000 benefit (it was $25,000 in the past). New homeowners still must file a first time application.
PORTABILITY: Property owners with a Homestead Exemption currently receive a benefit known as a "Save our Homes" cap. This benefit works by limiting the increase of the assessed value of the home to a maximum of 3% regardless of the increase in property values. Under the new law, homeowners will be able to transfer this