caravelle_512 Karen Rothstein, one of our Buyer's Specialists, just sold this fabulous townhouse in Caravelle in The Club at Boca Pointe. The lucky Boca Raton Real Estate buyer purchased this 3 bedroom, 3 full bath with 2 car garage and over 2700 square feet of air conditioned living space for only $279,900! That's only $100 a square foot, I don't think you could build this property for that price! This transaction was NOT A SHORT SALE although it was on the market for almost two years and was originally listed at $469,000. Our buyer clients are getting great deals now on Boca Raton Real Estate! Call us now to buy something before the buyers tax credits expire at the end of April 2010!

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We are happy to announce the successful closing of our listing at 17052 Boca Club Blvd in the Greens development of Boca Country Club. These Boca Raton Real Estate buyers are a lovely couple from the New York area who will be using the townhouse as a vacation home. The sellers are from Venezuela, and recently bought another property in Broken Sound Country Club.

This property was on the market for less than sixty days, and sold for 87% at the asking price. A 3 bedroom 2000 square foot townhouse, it sold for $240,000. The average days on market for homes of this type in Boca Raton is currently 212 and the average sell price to list price ration is 85%, so needless to say, our sellers were very happy with this result in the current market!

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Contracts must be executed by April 30, 2010... for money in your pocket!

Whether you are a first-time buyer who qualifies for the $8,000 tax credit, or a current homeowner who wants the $6,500 tax credit, you have only until April 30, 2010 to take action. Federal deficits, budget cuts and political jousting make it highly unlikely that Congress will approve another extension of these popular tax credits, and many economists expect interest rates to increase soon.
So what are you waiting for? Here are the highlights of both tax credits:

$8,000 First-time Home Buyer Tax Credit at a Glance:

  • The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a…

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As a continuation of my previous blog post on Lawrence Yun's speach at the National Real Estate Cyber Convention, here are some further highlights and what I think are interesting tidbits of information about the state of the current housing market and predictions for the year ahead:

  • The decline in housing prices is destroying middle class wealth.
  • Average home price to income is now below historical levels.
  • More importantly, the average mortgage payment to income (by middle income person buying a medium priced home) is below historical rate. This implies an overcorrection in the market. Therefore a stimulus is actually justified in the form of the tax credit in order to prop up the overcorrection.
  • If consumers feel more comfortable that their home…

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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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JUST LISTED IN PALMA VISTA!

 

WOW! Beautiful Castellana model in the Estates of Palma Vista in Boca Raton, located on a cul-de-sac lot with gorgeous lake views. Six bedrooms, five baths, 3 car garage, heated free form pool, paver patio, large yard with no rear neighbors and a view!

The first floor has hardwood flooring throughout, a large living room and formal dining room. Cook up a storm in your gourmet kosher kitchen with two dishwashers, two sinks, double ovens, chef's island, wood cabinets, granite counters, walk-in pantry and so much more!The kitchen table has a built-in banquette in a bay window with plantation shutters. The kitchen opens to the family room with an impressive mahogany built-in wall unit. There is also a bedroom (currently used…

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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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Thornhill Estates Home just sold by Gloria Singer! front_512_01

Beautiful Home on fabulous Cul-de Sac Location in popular Montoya Circle community of Thornhill Estates. The house is 4 bedrooms, 3 1/2 baths, over 3700 square feet under A/C.

Gorgeous kosher chef's kitchen with abundant cabinets, professional grade appliances and more!  

 

Step into your resort-like pool and spa and enjoy the best that Boca has to offer!

 

The view cannot be beat! This house is built on a .39 acre lot overlooking the golf course of The Club at Boca Pointe! Live the Dream!
If you are interested in Boca Raton Real Estate and the popular communities of Montoya Circle 
this will give you some idea of the amazing housing opportunities available. This house was listed at $1,250,000…

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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:

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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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 Check out this baby just sold by Karen Rothstein!!

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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…

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