Palm Beach Premier Real Estate News and Events

Dec. 5, 2019

SMART Homebuyer Event - Is it for me?

YES! It is for everyone!!

We are so excited to invite you to our SMART Homebuyer Event! Do you want to learn the insider secrets of home buying? Then come learn with our special guest Matt Weaver of Cross Country Mortgage. Whether you are a first time homebuyer or an experienced buyer, you will DEFINITELY want to attend this event! And get this...just for attending, you will receive over $15,000 in discounts towards your next home purchase!

If you are looking to buy or sell real estate in Palm Beach or Broward County, feel free to give us a jingle at 561.395.8418. Or you can email us info@pbprealestate.com. We look forward to seeing you there.

TO REGISTER for the event click HERE

Someone currently owns a home, what value is there to attend the SMART Homebuyer Event?

Current homeowners should attend the event as we have found that about 60% of existing homeowners today are NOT in their ideal home. What we do is we go over a 5 step exercise to see if they can actually afford buying their ideal home. Interestingly enough, about 40% of the attendees end up understanding that they can do that and end up selling their home and then buying their ideal home.

If you are interested in looking for your ideal home, please join us at the SMART Homebuyer Event. We would love to see you there!

TO REGISTER for the event, click HERE

Say someone does not have closing costs...can they still buy a home? And should they be attending the SMART Homebuyer Event?

Absolutely! It is a question that I have been getting for many years - If I do not have closing costs, should I still go out and shop for a home? Look, on a $300,000 house, the closing costs would be anywhere from $8,000 to $9,000. It's a lot of money. At the SMART Homebuyer Event, what we do is we go over key strategies as to how to avoid them so that you do not have to come up with that type of money.

TO REGISTER for the event, click HERE

If someone doesn't have a down payment to purchase a home, should they still attend the SMART Homebuyer Event?

YES! Did you know that there are close to 5,000 homes for sale today in Palm Beach County that can be purchased without a down payment? Most people do not know that. At the SMART Homebuyer Event we go over in detail key strategies and loan programs that you can actually purchase a home without having a down payment whatsoever. We would love to see you there.

If you want to learn more, definitely attend the SMART Homebuyer Event.

TO REGISTER for the event, click HERE

So someone is an investor...should they attend the SMART Homebuyer Event?

YES! We actually go over in detail a program to where you can buy a duplex, triplex or even a quadroplex with as little as 3.5% down. It is a wonderful program and most people are unaware of this program. So if you are thinking about investing into Real Estate, I happen to think that you should be attending the SMART Homebuyer Event.

For any of you investors out there that are looking to put some money in an investment property, we would love to see you at the SMART Homebuyer Event.

TO REGISTER for the event, click HERE

You have found the PERFECT home, it is exactly what you want but it needs some renovations...so how do you get that home and the renovation monies that are needed to fix up the home?

At the SMART Homebuyer Event what we go over in detail is an actual program to where you can actually borrow $35,000 at closing to renovate the home to your liking. The renovations can include kitchen, bathrooms, roof, almost anything that you can possibly think of and you can actually borrow that money at closing.

So if you want to learn more about buying your perfect home and getting your renovation costs, definitely come to the SMART Homebuyer Event!

TO REGISTER for the event, click HERE

So if you are looking to sell your home and want to purchase your IDEAL home, or you are a first time homebuyer, or investor, and want to learn more about buying and selling real estate, definitely come to the SMART Homebuyer Event!

To register and see upcoming dates and locations, please click HERE and scroll down to read and learn more about the event. Dates fill up fast so be sure to register!

We are excited to see you there!

 

Posted in Events
Nov. 26, 2019

Boca Raton and Palm Beach County Real Estate Market Update OCTOBER 2019

Inventory Continues to Tighten As Prices Remain Steady

Hello Everyone and thank you for watching. This is Gia with Palm Beach Premier Real Estate here in Boca Raton Florida with your 2-minutelocal market report for OCTOBER 2019.

So here’s a quick take on the numbers that came out from the Realtors Association of the Palm Beaches

The message from your team here at Palm Beach Premier Real Estate this month is: Inventory Shortage and Affordability Continue to hinder market activity.

So let’s take a closer look at the local internal real estate market numbers…. What we’re seeing is the following:

  1. The median sales price of a single family home in Palm Beach Countywas $359,000 ….. up 3.3%than a year ago.
  2. The number of RESALE housing units soldexperienced a 6.2% DECLINE from last year
  3. The inventory of homes for sale in Palm Beach County has tightened once again with a large 9.7% drop in the number of active listings and 4.5 months overall supply of homes (remember that 6 months is considered s balanced market).
  4. Trends were a little different in the condo and townhouse market. The typical Palm Beach County condo that sold in October fetched $172,000 down sharply from last month and a year ago
  5. Luxury homes are continuing to take significantly longer to sell while demand for entry-level homes remains intense
  6. The amount of time it took to get a contract jumped again versus last year for single family homes with properties now taking closer to 54 days to get a contract…and a whopping 9.6% longer than last year for condos and townhomes. The luxury end of the market of course is taking far longer  - on average taking nearly 6 months for properties greater than $1 million.

Now at the same time, against this background of sluggish real estate sales, we do have a disconnect what with the stock market at an all-time high, mortgage rates are at or near historical lows and very low unemployment numbers.

With those 3 advantageous economic factors in place, one would expect housing to be a major beneficiary and yet sales are falling and prices are only slightly appreciating.

It begs the question as to whether affordability is becoming more of an issue – something that we’ve been talking about for months here?

Also consider the fact that homeowners are staying in their homes for longer which is also negatively impacting inventory levels.

So what does that mean for Sellers? – Great question – it highlights JUST HOW IMPORTANT it is to price your properties competitively – and by that what I mean is very close to what has sold most recently. In this marketplace that we are in right now, it really is a beauty contest and a price war along with having great marketing as well.

Going forward we will definitely be keeping a continued close watch on prices, interest rates, inventory levels and the number of closed sales.

If you’ve been considering buying or selling - Please give us a call for a confidential consultation at 561.395.8418 or email us at Info@PBPrealestate.com - we’re here to help!

As always we look forward to speaking with you. Thank you again for watching. We’ll see you next time…

Posted in Market Reports
Nov. 25, 2019

Happy Thanksgiving

HAPPY THANKSGIVING!

We all have so much to be thankful for and we want you all to know how grateful we are for not only your business but also your friendship. From our team here at Palm Beach Premier Real Estate and our family to yours, HAPPY THANKSGIVING!

Nov. 25, 2019

Explore Nature Near Boca Raton Homes at Gumbo Limbo Nature Center

Explore nature near Boca Raton homes.There are so many unique species of wildlife and habitats close to Boca Raton homes. A great way to learn about them is to head to Gumbo Limbo Nature Center. Start at the nature center to learn about sea turtles, herbs, local plant species, and gopher tortoises. There’s a butterfly nursery, an exhibit on solar power, and information on safe lighting for sea turtles.

Boca Raton Real Estate Owners See the Butterfly Garden and Seminole Chiki

After getting your bearings at the nature center, head outside and explore natural Boca Raton real estate. Walk along the Ashley Trail. There are lovely mangrove swamps to see. You’ll also find an authentic Seminole Chiki, which was built in five days using cabbage palm fronds. The fronds were carefully harvested so as to promote growth. The chiki now serves as an outdoor classroom. With its view overlooking the Intracoastal Waterway, you can sometimes see juvenile sea turtles, manatees,and herons. The Butterfly Garden is reached via the Ashley Trail. It is home to monarchs, zebra longwings,and sulphur butterflies.

The Boardwalk Trail goes in the opposite direction from the nature center. The trail goes through a Tropical Hardwood Hammock. This ecosystem is now quite rare, but it was once common throughout Florida. Take time to see plant species including gumbo limbo, cabbage palm, and strangler fig. If you’re very quiet and lucky, you’ll also see some of the more shy animals, like red-bellied woodpeckers, five-lined skinks, and grey foxes. If you’re planning a picnic, follow the Boardwalk Trail all the way to Red Reef West Park, as food is not allowed in Gumbo Limbo.

Residents of Boca Raton homes who want a more in-depth experience of the habitats of Gumbo Limbo should check out the many programs offered throughout the year. Day camps for kids are scheduled during school breaks and all summer long. Get exercise and see the Intracoastal Waterway with a knowledgeable Gumbo Limbo guide. There are canoeing, kayaking, stand up paddle boarding adventures. Kids as young as 6 are welcome, as long as they have an adult with them.

Visit Gumbo Limbo and plan your trip today! 

 

Nov. 18, 2019

Retirees Relocating to Palm Beach County Need a Great Agent

Get a good agent if you're relocating to Palm Beach County.Many people want to move to a place with great weather and lots to do once they retire. Relocating to Palm Beach County is a dream for lots of retired home buyers. Not only is the weather nice and warm, the beaches are gorgeous, there are plenty of great places to eat and go shopping, as well as world-class medical care. Another great feature is that Palm Beach real estate offers great variety.

Decide on Your Palm Beach Real Estate Priorities Before House Hunting

In order to feel in control of the house hunting process, you and your spouse or partner, if you have one, should sit down and make a list of priorities for your new place. What is your motivation for relocating to Palm Beach County? Being close to the beach is a big reason. Downsizing is another reason. Some people are looking for a community with lots of amenities, like a pool, exercise facilities, and a clubhouse. Others really want to be done with landscaping maintenance and are happy to pay an HOA fee so someone else takes care of it. For those moving from another state, lots of community activities and clubs can help them make new friends.

Something else to consider is how long you plan to stay in your new home. If you want to age in place, you need to consider accessibility. A single story house is a good choice, or at least a first-story master bedroom. If you’re looking at condos, does the building have an elevator? Inside either a house or condo, look for halls wide enough for a walker or wheelchair.

If you’re planning a Palm Beach County relocation, you also want to find an agent with lots of experience. Be sure to interview several before choosing the one you want to work with. You want someone who has expertise in helping active adults find just the right home in a friendly community. Your agent should also be responsive to questions and open to your individual needs. Please give our office a call so we can get to know you and see if we can work together.

 

Nov. 17, 2019

126 Harbor Circle Delray Beach FL 33483 - MLS RX-10578327

126 Harbor Circle Delray Beach FL 33483 - MLS RX-10578327

 

This stunning 3 bed, 2.5 bath, 2 car garage waterfront home in Pelican Harbor, a unique boating community, has been meticulously upgraded and offers open concept stylish living with views of the C-15 canal, which has direct access to the ocean with no fixed bridges. This home features a long list of upgrades including quartz countertops, new backsplash and new appliances in the spacious kitchen, an updated first floor half bathroom, sound system wiring in the living/dining room and back porch. Pass through one of 3 French doors to the enclosed porch overlooking the repaved lanai and garden and featuring phantom automatic screen. The hardwood staircase leads to the second story and open loft with newer (installed 2015) laminate flooring throughout...

The spacious master bedroom has a large en suite that has been fully renovated with hurricane doors, Louvre doors and windows and a private terrace. Additional features include: New ADT system, new skylights, newer A/C, new barrel tile roof in 2014, update wiring, storm windows and renovated closets in both secondary bedrooms and so much more. See attached for complete list of updates and improvements.

Pelican Harbor is the only gated boating community of its kind in Delray Beach. Amenities include 24 hours guard gated entry, 2 resort style heated pools, lighted tennis & pickleball courts, gym, clubhouse and a large "party" deck overlooking the Harbor. The community also offer the Royal Pelican Yacht Club, a voluntary membership social club where neighbors meet neighbors at frequent social gatherings. There are 13 boat slips available for rent for up to 60ft boats. Pelican Harbor has ocean access with NO fixed bridges on the C15 canal off of the Intercoastal.

For more information on this gorgeous townhome in the waterfront community of Pelican Harbor in Delray Beach:

https://www.palmbeachpremierrealestate.com/search/details/5zg/0/

Nov. 11, 2019

Palm Beach County Home Owners Tour the Everglades

Palm Beach County home owners tour the Everglades.Most people choose a Palm Beach County home because of the great location. The beach is close by. There are lots of great restaurants and shopping opportunities. Jobs are plentiful. And of course, the weather is fabulous. Not nearly as many people who tour mansions in Palm Beach County are aware of the fact that the Florida Everglades are a unique natural habitat. In fact, UNESCO considers the Everglades a world heritage site, with significance for the whole world. Lucky for you, Palm Beach County residents can visit them anytime and learn all about the amazing plants, animals, and birds that live there.

Loxahatchee Everglades Airboat Tours Is Close to Mansions in Palm Beach County

Loxahatchee Everglades Airboat Tours is located in Parkland, convenient to any local Palm Beach County home. The company has great ratings and rave reviews. Each guide values the Everglades and hopes to educate the public about this special habitat. Because of this commitment, they do not feed or pen up the wildlife. The guides have all gotten in-depth training, from owner ‘Wild’ Lyle Thomas, who loves and knows the Everglades like no one else. You’ll get not only lots of facts about the area, you’ll also get a deep appreciation for the creatures and plants and their importance for the environment.

Tours depart several times a day, Monday through Saturday. They last about 50 minutes and cover five to six miles. Tickets are $65 for adults and $35 for kids ages three to 12. For their own safety, children younger than three years old are not permitted on the tours. Purchase tickets in advance online to guarantee your seat. Be sure to arrive 30 minutes ahead of your tour departure time. The tour is a great way to spend time with friends and family. Everyone will enjoy learning about the unique habitat and making memories together. Visit Loxahatchee Everglades Airboat Tours to learn more and book your tour. 

 

Nov. 8, 2019

1633 W Classical Blvd, Delray Beach, FL 33445 VIDEO - MLS ID number: RX-10575768

Fall In Love...

 

 

This stunning, upgraded and spacious 5 bedroom, 2.5 bath home resides in the sought-after Colony, a gated community consisting of only 151 estates. Featuring 16x16 diagonal tile in the common living spaces, grand-height ceilings, and show-stopping impressive architectural detail like the stylized paint and columns in the dining room and the rod-iron stair railing & bannister along the second story loft which can be converted into a 6th bedroom. The large kitchen features stainless steel appliances, gorgeous granite counters and backsplash and a large breakfast counter. All bedrooms offer ample space, fresh paint and new carpeting. The large master suite features vaulted ceilings, 2 walk in closets and a large en-suite bathroom that overlooks the private, easy-maintenance backyard and features dual sinks and separate shower and a large en-suite bathroom that overlooks the private, easy-maintenance backyard and features dual sinks and separate shower and tub. The Colony features an updated clubhouse, a large lap pool, spa, kiddie pool, gym with free weights and machines, tot lot and a basketball court. This community is professionally managed and embodies the South Florida lifestyle with illuminated sidewalks and plenty of neighborhood activities. All of this plus its only a 10 minute drive to the beach!

For more listing information details click on https://www.palmbeachpremierrealestate.com/search/details/5up/0/

Nov. 4, 2019

Great Tips to Save Money Renovating Palm Beach County Property

How to keep a Palm Beach County property remodel on budget.Costs can rise quickly when renovating your Palm Beach County property. This can especially be the case if you do not start out with a budget and stick to it. If you find yourself on a tight budget for your renovation project, there are ways to get the result you are looking for without breaking the bank. First of all, think creatively to save on material costs. Try to reuse as much as you can when ripping something out and also seek out reused or recycled building materials. There are also many online suppliers that can offer materials cheaper than retail stores.

Make a Budget and a Timeline Before You Start Your Palm Beach Real Estate Remodel

Take your time when renovating your Palm Beach County property. Keep an eye on sales to purchase essential pieces in advance or wait for them to go on sale. Light fixtures, windows, even cabinets and countertops go on sale. Spreading the project out can also allow time to pay a little at a time and not need to take out a loan or charge materials and contractor costs to a credit card. Try to do a renovation project without accruing any interest. Also check with your contractor if they will give a discount for paying cash. Many will offer this option to avoid paying fees from a credit card company.

Take on as much of the renovation of your Palm Beach real estate yourself as you can. Of course, some projects will likely be beyond your scope of abilities, but there is much the average homeowner can do. Ask a friend for help or watch an online tutorial for minor repair projects. Most demolition can also be done on your own. In addition, take a look around and try to sell any materials or appliances that are still in good shape that you are replacing. This is especially true if you are replacing kitchen appliances. Try to sell your old ones to try to offset a bit of the cost of the remodel.

Whatever your plans and your budget, be flexible to get the best deal.

 

Oct. 28, 2019

Boca Raton and Palm Beach County Real Estate Market Update - SEPTEMBER 2019

Inventory Shortage Continues as Prices Remain Steady

Hello Everyone and thank you for watching. This is Gia with Palm Beach Premier Real Estate here in Boca Raton Florida with your 2-minutelocal market report for SEPTEMBER 2019.

So here’s a quick take on the numbers that came out from the Realtors Association of the Palm Beaches

The message from your team here at Palm Beach Premier Real Estate this month is: Inventory Shortage Continues as Prices Remain Steady

So let’s take a closer look at the local internal real estate market numbers…. What we’re seeing is the following:

  1. The median sales price of a single family home in Palm Beach County was $355,000 ….. identical to last month….and slightly higher than a year ago.
  2. The number of RESALE housing units sold experienced a DECLINE from last month.
  3. The inventory of homes for sale in Palm Beach County has tightened once again with a large 8.7% drop in the number of active listings and 4.3 months overall supply of homes (remember that 6 months is considered s balanced market).
  4. Trends were a little different in the condo and townhouse market. The typical Palm Beach County condo that sold in September fetched $188,500 up slightly from last month and a year ago.
  5. Luxury homes are continuing to take significantly longer to sell while demand for entry-level homes remains intense.
  6. The amount of time it took to get a contract jumped again versus last year for single family homes with properties now taking closer to 53 days to get a contract…and a whopping 11.3% longer than last year for condos and townhomes. The luxury end of the market of course is taking far longer - on average taking over 5 months for properties greater than $1 million. .

So what does that mean for Sellers? – Great question – it highlights JUST HOW IMPORTANT it is to price your properties competitively – and by that what I mean is very close to what has sold most recently. In this marketplace that we are in right now, it really is a beauty contest and a price war along with having great marketing as well.

So clearly (and as we mentioned last month) the housing market is facing some headwinds and some significant downward pressure in the marketplace:

Once again we want you to consider these 3 important factors:

  1. 1. We have definitely Reached the Top of Real Estate Cycle - 2008-2018; - NOTE: Each RE Cycle is 7-10 years … so it makes sense that we are starting our downward leg.
  2. 2. We’ve reached the Top of Debt Cycle - 4 interest rate increases in 2018 (9 in all by the FEDERAL RESERVE) have now created headwinds with consumers highly leveraged – with the Federal Reserve now in a rate cutting cycle; NOTE: Every 1% increase to the mortgage rate impacts buying power by 10% - less qualified people equals less buyers.
  3. 3. Buyers have Price Fatigue .... Property Values have increased more than 40%+ since 2008 and yet Wages have simply not kept pace, perhaps 10% - so something has to give [NOT SUSTAINABLE] .... Either people get paid more or prices have to come down....which do you think is more likely? get paid more or prices have to come down....which do you think is more likely?

Looking ahead for the rest of 2019 as it relates to housing:

We can certainly extrapolate some themes here:

First - The average household’s cost to service debt has reached a point at which it will become more difficult and challenging to find buyers who can qualify for a conventional mortgage (FNM, FRE, FHA) –

Second - Housing affordability issues will continue to be a theme going forward

Third Inventory concerns will continue to act as an overhang on the market, prices will soften and properties will likely sit on the market for extended periods of time.

FourthThe effects of the worldwide economic slowdown will be felt here in the USA throughout 2019 and into 2020 and will have a knock-on impact for the housing market.

And Finally - The effects of the worldwide economic slowdown will be felt here in the USA throughout 2019 and into 2020 and will have a knock-on impact for the housing market.

Furthermore, the Federal Reserve continues to cut the Fed Funds Rate as tariffs and global economic slowdown concerns continue to place downward pressure on markets – will they continue to cut interest rates or will the divided committee hold at current levels? This week the consensus appears to be another quarter point rate cut from the Fed.

Going forward we will definitely be keeping a continued close watch on prices, interest rates, inventory levels and the number of closed sales.

If you’ve been considering buying or selling - Please give us a call for a confidential consultation at 561.395.8418 or email us at Info@PBPrealestate.com - we’re here to help!

As always we look forward to speaking with you. Thank you again for watching. We’ll see you next time…. J