June’s performance for the Palm Beach County real estate market for existing homes largely reflected the prevailing trends that we had seen for 2018 thus far, as revealed in the latest market statistics from Florida Realtors.

Closed Sales

Overall, 50 fewer single-family homes sold in Palm Beach County in June 2018 as compared to June 2017, a 2.7% decline. Meanwhile, 60 more condos and townhouses sold this past June, an increase of 4.9% compared to the same period the previous year. The number of closed sales year to date (January-June 2018) did not change from the previous year for single-family homes and rose 4.3% for condos/townhomes. 

Inventory

The absence of sales growth (especially in single-family homes) of the past couple of years is due…

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 If you are thinking of buying or selling a property in the Boca Raton area, you probably have some preconceived ideas about the process. Here are a few of the common misconceptions that we agents encounter:

  1. You should list your house a little bit higher than the market to leave room for negotiating. Anyhow, if it is priced too high you can always lower it.
    Listing your home at too high a price might actually result in you getting less than if you had priced it properly from the start. With virtually all buyers doing research online, they are very well-informed about the state of the market and what prices should be. Buyers and their agents will not look at a property that they perceive as overpriced. The more buyers that see your house, the…

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Florida is one of only seven states that does not have an income tax, the others being Alaska, Nevada, South Dakota, Texas, Washington, and Wyoming. Florida has been a popular retirement destination for years because of its great location and climate, but as more people are able to work remotely, the no-tax incentive is attracting non-retirees as well.

Now there is even more of an impetus for people to relocate to Florida with last year’s Tax Cuts and Jobs Act, which limits the deductibility of state and local taxes (SALT) starting in 2018. Some of the states with the highest income taxes are California, New York, and New Jersey. With rates ranging from close to 9% up to over 13%, the inability to deduct these taxes strikes a huge financial blow to…

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Palm Beach County’s housing market reported rising median prices along with reduced listing inventory in May 2018 as compared to May 2017, according to the latest housing data released by Florida Realtors®. 

Notable facts from the latest statistics include:

The Market for Single Family Homes and Condos/Townhomes is Different
The median price of closed sales in Palm Beach County for single-family homes continues to rise, with a 5.7% increase from the same period last year. The median price now stands at $354,000 for single-family homes. The median price has increased every month this year for single-family homes. 

The median price for condos and townhomes did go down somewhat this month as compared to the previous year, as well as month to…

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Selling a home is a difficult and emotional process and obviously you want to get the highest price possible. There are many factors that affect the price that you will ultimately get for your house. Some of these include: recent past sales in your neighborhood (what appraisers look at), what is currently on the market (your competition), interest rates, and general market conditions. Additionally, you must keep your house in mint “show ready” condition, and make it easy to be shown. Lastly, your Realtor® needs to be an expert negotiator adept in marketing your home for maximum exposure. 

 

Price Reduction.

Setting an initial asking price is more art than science. Often, our sellers will want to price the property higher than what we recommend, so they will have…

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golden triangle

The Golden Triangle represents the neighborhood adjacent to Mizner Park in downtown Boca Raton. Encompassing the subdivisions of Boca Villas, Kings Court, and Whisem, the Golden Triangle neighborhood has become one of the hottest and most desirable communities to live in.

The neighborhood was characterized by small homes built primarily in the 1950’s. Beginning in the early 2000’s, many of the original homes have been demolished to make way for larger, more modern homes. Most of the original homes are now being sold for lot value, as both end users and developers have discovered the potential of living in one of Boca’s best locations.

Located north of Palmetto Park Rd, East of Mizner Park, and West of the Intracoastal, residents enjoy the…

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According to the latest housing data released by Florida Realtors®, Palm Beach County’s housing market reported sharply rising median prices and more closed sales, along with slightly reduced listing inventory in April 2018 as compared to April 2017, according to the latest housing data released by Florida Realtors®.  

Here’s what buyers and sellers of Boca Raton real estate need to know.

Median Price Continues to Climb

The median price of closed sales in Palm Beach County continues to climb, with a 5.8% increase from the same period last year for single-family homes, and 9.7% for townhouses and condos. Pushing up the median price (half sold for more/ half sold for less) is the fact that more expensive homes are selling. In fact, the average…

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Real estate market prices are always dictated by supply and demand. In a seller’s market, there are more buyers than sellers, thus inventory levels decrease. When this happens, the supply is reduced and prices inevitably rise. In many segments of our local real estate market, we are seeing quick sales and often multiple offers. So what can you do to help your offer stand out so you can get your dream home? 

Don’t Lowball ~ Know the Market
As they say, “You only have one chance to make a first impression”. You need to understand the market, that is knowing what is currently on the market as well as what other comparable homes have recently sold for.  In a seller’s market with the potential of multiple offers, your lowball offer will be immediately…

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Boca Bidges

The long-awaited next “Bridges” by GL Homes development has opened. Following on the success of The Bridges and Seven Bridges, GL is opening sales for its newest luxury community. Located just south of Seven Bridges, on the West side of Lyons Rd and just north of Clint Moore. Boasting a Boca Raton address, there will be over 500 single family homes ranging from the $800,000s to $3,000,000. Boca Bridges will appeal to the buyer looking for a luxury lifestyle with all of the amenities but without the expense and buy-in of a country club community. 

The Lifestyle

One of the highlights of the community is the luxurious and extensive lifestyle complex, featuring a 27,000 square foot clubhouse and more than seven acres of recreational space. The…

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 According to the latest housing data released by Florida Realtors®, Palm Beach County’s housing market reported rising median prices and more closed sales. Additionally, the listing inventory experienced a slight reduction in March 2018 as compared to March 2017. 

Here’s what buyers and sellers of Boca Raton real estate need to know.

March Stats

Median Price Continues to Climb

The median price of closed sales continues to climb, with a 7.1% increase from the same period last year for single-family homes, and 9.3% for townhouses and condos. The median price also climbed month over month. The median sale price in March 2018 was $348,000 vs. $345,000 in February 2018 for single-family homes, and $177,000 vs. $170,000 for townhouses and condos. 

…

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