Monday, December 23, 2019 / by Carl Gentile
With 2019 coming to a close, we saw a lot of exciting events and market shifts take place in the Palm Beaches and Treasure Coast real estate market this year. Good schools, the 2017 Republican tax bill and a construction boom of condos and apartments propelled Boca Raton and Jupiter to the fastest growth rate among Palm Beach County since 2010, a Palm Beach Post review of recently released U.S. Census data shows. Jupiter, FL alone has seen an increase in population of over 14,000 new residents in the past few years, that is almost a 20% increase in population!
The Palm Beaches real estate market growth was impacted greatly by new construction in 2019. As new communities have sparked up across the county, their attractiveness remains very strong in the outside consumer eyes. A combination of decreasing inventory of resale homes, has shown promising sales for many new construction communities thus far.
Pending home sales are down again, for the 8th straight ...
Tuesday, November 26, 2019 / by Carl Gentile
We are starting to feel the annual migration of sun seeking visitors to our little slice of paradise. Here in the Northern Palm Beaches, we see more cars on the road, more people on the beach, and tables at the best restaurants mean you better have a reservation, or be prepared to wait.
Season has started, and while the big crowds don’t arrive until after we get through the holidays, there is no doubt that the party has already started. This years’ season should be a big one and if the economy keeps churning in a positive manner, local real estate is going to get more expensive.
Back on June 1st, we hit an all time record high of $515,000 and over the summer we watched prices drop for 4 consecutive months. That downward streak ended in October with median single family home prices jumping from $496,250 all the way back up to $510,500.
Sales actually were not that strong, and in October were a full 14% below year ago numbers. It isn’t demand pushing ...
Friday, October 4, 2019 / by Carl Gentile
COOL FALL EVENTS
October in the Palm Beaches
From fairs to festivals and everything in between the Palm Beaches has so much to offer during the month of October and we want to keep you in the know! The best events in South Florida happen here in the Palm Beaches.
Oktoberfest the Palm Beaches
Dine on authentic meals of bratwurst and schnitzel; sip imported and domestic beers, schnapps, 30 different types of liquor; and listen to entertainment by two original Oktoberfest bands direct from Germany. Enjoy family-friendly entertainment with arts and crafts, carnival and games, folk-dancing, vendor displays and souvenirs.
Listen to continuous entertainment by two Oktoberfest bands direct from Germany, as several international dance groups perform international entertainment from around the world. And don't forget – German attire is not required, but it certainly does make the celebration more interesting.
This event will be held October 11 &n ...
Wednesday, August 28, 2019 / by Carl Gentile
Hurricane Dorian Prep Checklist
with Hurricane Dorian approaching South Florida it's important to start your hurricane prep early and to be prepared in case of the worse. At this time, forecast predictions show the storm can go anywhere right now from the Keys to Georgia to the Carolinas, it's still too early to know for sure, but it is advised and wise to be ready. Below is a list of supplies we suggest you should be prepared with in case of loss of power or dangerous road conditions for multiple days.
HURRICANE KIT: Assemble this before the storm
Flash lights and extra bulbs
A wind up or battery operated clock
Battery Operated Radio
NOAA Emergency Wheather Radio
Plastic Garbage Bags
Working Fire Extinguisher
A Clean Change of Clothes, Rain Gear, or Sturdy Swamp Boots
Fully charged, battery operated lanterns
Map of the Area
List of Important Phone Numbers
Copy of your insurance policy
Cash - the ATMs if powe ...
Tuesday, July 30, 2019 / by Carl Gentile
Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers.
Here are the results from the Q2 2019 Survey:
Home values will appreciate by 4.1% in 2019
The average annual appreciation will be 3.2% over the next 5 years
The cumulative appreciation will be 16.8% by 2023
Even experts representing the most “bearish” quartile of the survey project a cumulative appreciation of over 6.7% by 2023
What does this mean for you?
A substantial portion of family wealth comes from home equity. As the value of a family’s home (an asset) increases, so does their equity.
Using the projections from the HPES, here is a look at the potential equity a family could earn over the next five years if they purchased a $250,000 home in January of 2019:
Based on gains in home equity, their family wealth could inc ...