This is a guest post written by Mike Krumholz of Fairway Mortgage:Mike Krumholz

I wanted to give you an update on where things are in the Mortgage World to date.  Our market is currently very fluid, so we are getting updates all the time.  These changes are not unique just to Fairway – this of course is industry wide.   

Summary of how servicers impact the mortgage business and what is causing them to pause

To be very transparent the mortgage business is in a tough place currently.  It’s not because of lack of business… it truly is because of a bottleneck that is forming at the servicer level.  The problem arose from the fastest ever economic adjustment the world has ever seen.  Here is a high level explanation of how the process works:

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Palm Beach County issued Emergency Order #2 on March 26 to minimize the spread of COVID-19 which requires all non-critical businesses to shut down in the county. Included is a provision for REALTORS® which states that we are permitted to see our current transactions through to closing in accordance with CDC and FDOH requirements, but all future work must be conducted remotely and electronically. What does this mean for us? We can continue practicing real estate including listing homes, but we are not allowed to meet physically with our clients or customers. All showings must occur virtually, with no other parties being present. 

Up until this order was effective, there were sporadic showings and activity taking place during the month of March. We will…

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For the past several years, we have shared monthly market statistics showing recent activity in our area comparing year over year data for a particular month. It doesn’t really matter what February 2020 numbers are: Sales are up! Prices are up! Inventory is low!  Whatever. Everything has changed.

As a real estate professional, my job is to advise the facts of the marketplace rather than just the emotions of the marketplace. While the real estate business has certainly changed (work from home, few or no in-person showings, no open houses, etc), people still need homes. We have active Buyers and Sellers who are continuing to show interest in a real estate transaction in the near future. Sure there have been a few deals canceled, and buyer showings…

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Make your home in this magnificent Golden Harbour estate on the water and live close to the beach, house of worship, downtown Boca, shopping and dining.

East Boca Raton is booming and has become an internationally recognized destination served by three major airports as well as the Boca Raton Executive Airport. It is home to landmark hotels such as the world-class Boca Raton Resort and Club and the Mandarin Oriental Hotel currently under construction.

Ideally situated in the heart of Palm Beach County, you are a short drive away to Delray Beach's Atlantic Ave, Palm Beach's Worth Ave. and Fort Lauderdale's' Los Olas Blvd.

Golden Harbour is one of the most sought after neighborhoods in Boca Raton, nestled within the Intracoastal and it's waterways…

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Jan 2020 market statsNewly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for January 2020. Read on to learn more about the real estate market in South Palm Beach County:

Economic Indicators

For 2020, The National Association of REALTORS® Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4%,” the long-term NAR economist predicts. He is also expecting the new-home construction market sales to increase 10%. Yun and others would like to see home builders bring more affordable units to market to help ease shortages and slow price gains in that segment.
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Live it up in this jewel of a condo nestled between the Atlantic Ocean and the Intracoastal. The seller has remodeled the whole place in beautiful ocean blues. Both bedrooms are ensuite with contemporary artsy finishings and decor. The kitchen is modern and sleek boasting stainless steel appliances, wet bar, and quartz countertops.

This bright and airy condo features upgrades that include high-end speaker systems, built-in shelves, built-in walk-in closets, and engineered wood floors in bedrooms and living areas. Enjoy your morning coffee from a private balcony with partial views of both the Atlantic Ocean and the Intracoastal Waterway.

Port De Mer is currently updating and improving its Lobby, club room, hallways, and elevators.  

Port…

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December 2019 Market StatisticsNewly released market statistics from Florida Realtors® are in, showing recent real estate market activity in our area. The reports compare year over year data for December 2019. Read on to learn more about the real estate market in South Palm Beach County:

Economic Indicators 

In 2019 home prices were up again in most markets. Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would normally be in a more balanced market. While up from their recent lows a few months ago, mortgage rates end the year close to three-quarters of a percent lower than a year ago, helping to improve affordability and offset rising home prices.

Local Market Overview

New Listings decreased 16.0…

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Live luxuriously in downtown Boca Raton, directly across from shopping and dining at Royal Palm Place and walking distance to Mizner Park and the beach. Townsend Place offers exceptional concierge service, 24 hr security, and valet parking. 5-star amenities include fitness rooms, a resort-style swimming pool, and sundeck, sauna and spa.

 

Facing northeast, this spacious condo offers a substantial master bedroom suite, lots of walk-in closet space, ensuite bathrooms, floor to ceiling impact windows and a fabulously large balcony from which to view the city lights, the beautiful Boca Resort Golf Course and the ocean in the distance. Hands down, the best deal in downtown Boca, this condo is priced to sell!

For more information, please…

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Highland Beach Club

3594 S. Ocean Blvd. #803, Highland Beach, FL  33487

List Price:  $725,000

 

 

Ocean & Intracoastal Views! Total custom renovation! Wow!...2 BR/2BA high floor split bedroom condo in the much desired Highland Beach Club. Fabulous contemporary condo upgraded to the max. Gorgeous white 24 x 24 porcelain tile throughout. High-end kitchen cabinetry with quartz counters (waterfall edge), glass black splash, wall oven, wine fridge and top of the line stainless steel appliances. Stacked marble stone accent walls in family room and kitchen counter offer elegant warmth to the condo. Bathrooms (master has 2 sinks and vanity) feature custom tiled showers with frameless doors. White frosted glass interior doors, 3 fitted walk in…

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Welcome home to this move-in ready 2 Bedroom, 2 Bath condo on the 7th floor of Palmetto Place in downtown Boca Raton. 

Under $500,000! No need to look further! Centrally located in the middle of downtown Boca Raton, close to Mizner Park, Royal Palm Place, restaurants, shops and the beach. Balcony overlooking pool and gardens. Palmetto Place is a full-service concierge building with abundant amenities including a resort style pool, valet parking, fitness center, clubhouse and more. Small pets welcome, and you can lease it right away, so it's a great investment. 

Listed by Gloria Singer for Boca Expert Realty. Please contact Gloria for current pricing + availability. 

Address: 99 SE Mizner Blvd, Apt #734, Boca Raton, FL 33432
Price: $499,000
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