Wednesday, April 22, 2020 / by Carl Gentile
March by the Numbers
Q1-2020 Real Estate Market Update
Palm Beach County
Increased demand continued to set record breaking figures for 2020, up until the global impact of COVID19 began to locally impact the markets. How will this impact the remainder of 2020?
2020 in Palm Beach County saw a strong start as the ability to communicate and operate business through cell phones and laptops becomes widely accepted more businesses are transitioning to the Sunshine State.
Closed sales for the month of March continued to climb between 8-14% from March 2019 between Tequesta and Boca Raton. However, as news of COVID19 spread globally the impact began to set play mid-march causing a steady decline in both new inventory and pending sales. With a 10% decrease in new inventory and a 40% decrease in pending home sales as the threat of COVID19 initiated quarantine lockdown, leading to limited interactions.
As we enter the close of April, we have seen the market activity drastica ...
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 ...
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 ...
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 ...
Wednesday, June 19, 2019 / by Carl Gentile
Dealing With Hardwood Floor Scratches
Hardwood floors are highly desirable for most homeowners, but they come with their share of challenges when it comes to cleaning, maintenance, and repairs. After a few months or years of heavy use from kids playing with toys and chairs being shuffled around, it may be time for some DIY fixes.
Hiding scratches: If you’ve got a good eye for matching colors, you can actually use crayons or markers or purchase wax sticks from the hardware store to fill-in scratches. Try to match the stain color on your floors, but don’t worry if it’s a little off. If the color is close, once the scratch is filled, it’ll look like a variation in the wood grain.
Polishing floors: You can make a polish solution for your floors from household ingredients. Mix olive oil and vinegar in equal parts, pour it directly into scratches, and then wipe it off after 24 hours. It may take several applications, but this homemade polish will fill a ...