Boca Raton Real Estate News & Events


This is a rare occurance. The seller of this home in Thornhill Estates in Montoya Circle in Boca Raton spoke to Gloria Singer about possibly listing his home. Gloria already had the perfect buyer in mind and the transaction was made before even officially putting the home on the market! This unique .33 acre lot located on a cul-de-sac was perfectly suited for the excited new owner who loves to garden! The 3 bedroom home had many updates and upgrades. The original asking price was $624,980. It sold for $575,000.

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blog_pic_1_512_01 This lake front beauty in Bellaggio, an active adult community in Lake Worth, was just sold by our buyer's specialist, Karen Rothstein. This full featured home came with all the modern amenities! Walk into this home onto gorgeous diagonally set 18 inch floor tile. The eat in kitchen is ultra modern with 42 inch upper cabinets, black cosmic granite counters, under cabinet lighting, and a drop-in flat top range with slide out drawers. Architectural features are found throughout this 3 bedroom home including columns in the living room and a coffer ceiling in the luxurious master bath. A spacious screened-in patio with panoramic water views complete this outstanding home which sold after being on the market for less than 3 weeks!  This home was…

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Property Tax Good GriefBeginning Monday, August 23, 2010, the Palm Beach County Property Appraiser’s office mailed the proposed property taxes for 2010. In the notice, there is a breakdown of millage rates , the property’s assessed and taxable values (as of January 1, 2010), and any exemptions applied. Read your notice closely. Although unfortunately millage rates have gone up in most areas, the values have declined. (example: I am an owner of Boca Raton Real Estate. My market value declined 10%, however my tax bill increased because the local taxing authorities increased their millage rate.) If you disagree with the value, or an exemption has not been applied, you have between now and September 16, 2010 to file a petition. With property values plummeting in the area, many…

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Boca Raton Area Homes – Shopping

For those living in Boca Raton area homes, if shopping ‘til you drop is one of your favorite past times, you are in luck. This is an area of Florida that is paradise for those who live to shop. From the malls to boutiques, there is practically nothing that you cannot find in Boca Raton.

800px-mitzner_park_800Going to the mall is a short distance for residents of Boca Raton area homes. Mizner Park has more than 40 shops that include nationally known retailers, specialty shops, restaurants and a cinema. In addition, the mall houses the Boca Raton Museum of Art and an amphitheater.

Mizner Park is not the typical mall - it is an open-air type that has a reputation of being one of Boca Raton’s more upscale shopping establishments. The mall is…

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I have been spending some time examining the Boca Raton real estate market and the underlying statistics of what is happening in our area. I think it's important to discuss the market in terms of price bands, as we have a wide range of inventory and price ranges in our local market. As an example, I have analyzed the current situation for single family homes in Boca Raton, in various price ranges. Check out this chart below:

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What is most interesting to me is that the number of months of inventory for homes priced between $750,000 and $999,999 is a whopping 92 months! Only two homes in this price range sold in February 2010 out of 193 listings! Not that it's so great for homes over a million, but they are actually faring better, with 45 months supply.…

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I am participating this week in the National Real Estate Cyber Convention and just attended a keynote presentation by Lawrence Yun, the chief economist of the 1.2 Million member National Association of Realtors and widely considered one of the top ten economic forecasters in the country. Here are some of the highlights of Mr. Yun's very interesting talk about what to anticipate in 2010. This is part one of my recap of his lecture. The second part will be covered in a separate blog post:

  • Predictions are for 15% higher unit sales in 2010 which will cause inventory levels to stabilize.
  • 2 Million first time buyers are expected to take the 1st time buyer credit to date
  • An additional 2.4 Million (both 1st time and move up buyers) will take the credit by…

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According to a survey released by Freddie Mac, interest rates on 30 year fixed rate mortgages averaged 4.97% for the week ending February 11, marking the third week this year that rates have fallen below 5%. A year ago rates were slightly higher, at 5.16%

15 year fixed rate mortgages averaged 4.34% this week as compared to 4.81% a year ago.

These low rates combined with increased affordability (i.e. LOW PRICES) hopefully will encourage continued activity in our local markets. Here in the Boca Raton/ Delray Beach/ Boynton Beach area we are closing significantly more deals than this time last year. This is really a great time to buy real estate in the Boca Raton area.

You can search the entire MLS here.

 

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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:

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

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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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