Real Estate Market Updates

There are currently 15 blog entries related to this category.

National real estate sales data collected from 2014 - 2017 can predict the best time to sell in Boca Raton. The data compares the average national home sales price each year to the average home sales prices per month, and national home selling time to the average speed of home sales per month.

Based on this research, if you time your home sale correctly, you could make more money on the sale or sell the home faster than you could if you sold it at any other time of year.   

When to Sell in Boca Raton to Make the Most Money

Over the timespan of 2014 - 2017, June was the best time to close on your home sale in Boca Raton. Home sales that closed in June sold for 9.47% higher than the average home selling price for the year. This information suggests

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Top 10 Real Estate Market Predictions for 2018

Compass goes public, economy soars, Congress pivots on homeownership tax benefits and more

As we approach the end of yet another year, one of the biggest questions on most everyone's minds, especially those of us in the real estate industry, is "what is going to happen next year?"  Brad Inman of Inman.com recently reviewed his past predictions about the real estate market, some of which came true and some not. Two years ago as we approached the year 2016, Brad Inman predicted that Donald Trump would be elected President of the United States.  That obviously came true.  Last year, Inman predicted that Zillow would expand overseas in 2017 and NAR would choose a woman CEO; didn't happen. 

Inman was accurate about a soaring housing market and

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Forget fast-appreciating Denver and stratospheric San Francisco. Palm Beach County has elbowed its way into the top spot on a real estate firm’s list of the nation’s hottest housing markets. According to an analysis by property marketplace Ten-X, Palm Beach County has seen torrid price appreciation, a robust job market and strong population growth. “Palm Beach County’s housing market is scorching,” Ten-X said in its report released Tuesday. “Seasonally adjusted home prices are up 16.8 percent year-over-year, the highest pace in the country.” Even after the run-up in prices, Palm Beach County values remain 14 percent below their peak, Ten-X said, “suggesting additional room to run.” However, Ten-X’s conclusion is far from unanimous. “That’s just not…
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2017 will be all about being nimble, responding quickly to market changes and keeping your clients informed

Key Takeaways

  • There is solid optimism about the housing market in 2017, with 27.43 percent of respondents saying they are extremely optimistic.
  • More than half of this survey's respondents (52.21 percent) expect President-elect Donald Trump to have a positive effect on the U.S. housing market.
  • A strong majority (71.24 percent) of respondents have plans to expand their businesses next year.
  • Nearly 50 percent of respondents think unit sales will go up in 2017, and 75 percent of those surveyed think that prices will go up.

Special Report survey respondents and some of the industry’s top executives were nearly

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What will happen to mortgage rates, affordability, inventory and more

Key Takeaways

  • Mortgage rates are likely to continue to increase throughout 2017.

  • There will not be any easing in inventory, and affordability will still be a challenge in big markets.

  • The potential is there for a large number of first-time buyers to enter the buying market, but they will face new challenges.

It’s been one unprecedented 2016, between the Brexit vote, the continued persistence of low mortgage interest rates and an election that seemed to temporarily throw markets for a loop.

What will the 12 months encompassing 2017 hold in store for housing?

Inman asked eight different experts to give their take:

  • Steve Cook, editor
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Properties coming to the market are being priced at record highs. Experts watching the economy state that these prices are not indicators of another market crash on the horizon. The term “housing bubble” is a scary one, but that is not what is happening today.

CoreLogic reports that two times as many urban markets are overvalued. This means that prices are inflated compared to the incomes of people looking to buy in these areas. This is a comparison between the second and first quarter numbers of this year. The values on these homes are not expected to fall anytime soon, which is the opposite of what a bubble is. Bubbles eventually burst. These home prices are high because there is limited inventory in desirable areas. Not because of sketchy selling

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Upping the ante on Mizner Trail

In November, there was news of a proposed settlement of the lawsuit resulting from Palm Beach County’s approval last June of development on the old Mizner Trail Golf Course. I can report that in December there was a second offer.

The main plaintiff in the lawsuit, which argues that the county’s approval is illegal, is the Boca Del Mar Improvement Association. It’s the umbrella group for all the homeowner associations in Boca Del Mar, between Camino Real and Southwest 18th Street west of Military Trail. Mizner Trail is one of two golf courses in Boca Del Mar, which was developed 40 years ago. The other plaintiffs are a small number of residents.

The first offer was $250,000 to the improvement association. The

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According to Freddie Mac's latest U.S. Economic & Housing Market Outlook, U.S. home sales in 2015 will show increase to the numbers associated with a normal real estate market. Here is their projection:

"We are projecting a 4 percent rise in sales to 5.6 million, which would mark the highest level of annual sales since 2007."

And their optimism was seconded by both the National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA).

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Realtors vs. For Sale By Owner

Let us see if selling your home by yourself as a FSBO (For Sale by Owner) is really cheaper as compared to selling it through a Realtor.

It has been discovered through research conducted that FSBO (For Sale By Owner) takes longer to sell, in addition to the fact that about 21% of them end up being listed on Multiple Listing Service (MLS). This leads to an average of 68 days longer as compared to real estate listed with a Realtor. So, with a Realtor, the average property spends approximately 69 days on the market, while with the property being sold by the owner, (FSBO), it spends as long as 88 days on the market.

Are you really saving money?

Many home sellers in today's real estate market are inclined to at least

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Depot Square Apartments in Delray Beach, FloridaAn under developed resource located north of Delray Beach's historic will see new life soon. The 12-acre lot containing a dilapidated train station is slated for development as a family-friendly, 284-apartment complex. Incentives for the community include plans for a cyber cafe, fitness center, and bicycle repair shop.

Delray Beach seems to have forgotten a little used historic district. But soon the area will have a new look with modern lines. The planned construction will be highly visible to announce the redevelopment of the historic area.

A wildflower garden occupies the 12-acre field near Delray's historic train station. After disagreements in the early 1990s the historic former Seaboard Air Line Railway depot, located a few blocks north, was

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