August 2019 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 August 2019. Read on to learn more about the real estate market in South Palm Beach County:

Economic Indicators

As the summer draws to a close, multiple opposing factors and trends are competing to define the direction of the real estate market. After the Federal Reserve lowered its benchmark interest rate on July 31, 30-year mortgage rates continued to decline, approaching all-time lows last seen in 2016. [UPDATE: On September 18, 2019, the Fed cut rates another ¼% for a target range for the Federal Funds Rate of 1.75-2.00%]. In spite of these rate cuts, most experts agree that the…

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We are proud to announce that Boca Expert Realty has been selected as the exclusive representative for Leverage Global Partners in Boca Raton and the surrounding areas in Palm Beach County, Florida. Boca Expert was chosen based on our reputation and success in the local market, and consistency in providing exceptional service to our clients. Leverage Global Partners is an international community of independent brokerage firms who align under shared standards of care, market expertise and service. The member brokerage firms who have been chosen to join Leverage have been vetted and trusted with the exclusivity of being the Network’s sole representative of their markets. This partnership aligns the most prestigious independent luxury real estate…

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January 2019 Market Statistics Infographic

Newly 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. Read on to learn more about the real estate market in South Palm Beach County:

Home Sales begin to slow

The pace of home sales began to slow in the last quarter of 2018, despite a strong economy, high employment, and steady wage growth. Although prices have continued to rise, the rate of the increase is slowing.  Blame for the slowdown was given to a combination of both high prices and steady interest rate hikes by the Federal Reserve. This month, the Fed responded by not increasing rates further for the time being.

Affordability continues to be an issue

Although home…

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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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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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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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When putting your Boca home on the open market, the obvious goal is getting as much money as you can in as little amount of time as possible. And while making sure the inside of your home is in tip-top shape will always be a top-priority before selling, spending plenty of time on the outside of your home is also a necessary component to achieving all your home selling goals. 

Landscaping will undoubtedly play a critical role in getting a home sold, especially when it comes to attracting potential home buyers initially. 

Let’s face it—if you can’t grab a buyer’s attention from the outside, do you really think that same buyer will take the next step and see what the inside of your home has to offer? Not likely; and that’s where landscaping comes into…

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HOA Fees ExplainedWith Boca Raton being one of the top retirement destinations in the entire country, maintenance-free housing options here are beyond plentiful. But when you buy a condo, townhouse, or even a home in a gated or golf course community, home owners are required to pay a home owners’ association fee for common area maintenance and upkeep, which can be billed monthly, quarterly, or sometimes even annually.

So if you’re planning on being in the market for a new home or condo this spring, here’s a brief overview of HOA fees and what it may mean for you as a new home owner.

The Basics

As just alluded to above, the general idea behind an HOA fee is to help maintain the common areas of a condo building or community, which could including anything from the…

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