Welcome to PalmBeachFloridaHomes.net!

This blog will follow the real estate trends of the Palm Beach Gardens, Jupiter, and Stuart areas and share my ideas on what is happening in the market. I will also be keeping up on local events, restaurants, and what I think makes the Palm Beaches a great place to live.


Tuesday, October 19, 2010

Architecture Coach: A Different Kind of Dining Room



Despite rumors of its demise, the dining room is not disappearing, but going through a transformation as homes get smaller and more energy-efficient and low-maintenance.

Often thought of as a place mostly for enjoying holiday dinners and birthday celebrations, the dining room is morphing into a friendlier, more intimate space as home owners try to maximize existing square footage rather than add on.

One popular trend today is to take down a wall between the dining room and kitchen to fashion one big, casual cooking and eating space, which can also be used for watching a movie or using a computer, says interior designer Janell Rasper of Callen Construction Inc. in Muskego, Wis.

Those who build from scratch today often go for a simpler approach: In addition to fewer bedrooms and smaller garages, people frequently opt for more casual living and eating spaces, an open great room with a corner for dining, or a smaller dining room, according to the most recent New Homes Started survey from the National Association of Home Builders in Washington, D.C. “Home owners worried about costs are interested in making trade-offs today,” says Stephen Melman, NAHB’s director of Economic Services, Economics and Housing Policy.

Tom Hackett of Orren Pickell Designers & Builders in Lake Bluff, Ill., says his firm regularly scales back on the size of most dining rooms and lowers once-high ceilings for warmth and intimacy. More dining rooms also have become multipurpose with bookshelves, a bar, or paneling that opens to a desk for an at-home office. And some of these rooms are placed at the center of the house so they lie within the main traffic flow to attract attention and use, Hackett says.

You can help your buyers and sellers analyze a dining room’s importance by discussing the following possibilities, based on how they live. The ultimate goal: to feed the eyes and make the space functional.

Color It Bold

The dining room can be bolder and more colorful than other rooms since it’s often used less frequently, says color consultant Amy Wax of Your Color Source in Montclair, N.J. But Wax advises showcasing just one element with bold color such as walls, furniture, the ceiling, a ceiling fixture, or dishes on the table or wall. For a twist, she recommends painting wainscoting and molding one color and making walls bolder, sometimes by painting 4-inch-wide stripes alternately in flat and satin to create a shimmering look, since satin reflects light.

Adapt to Familial Needs

In her eight years as a real estate broker and salesperson, Melody Bohl, ABR, GRI, with Carpe Diem Realty in Newton, Mass., says she’s found that different-aged buyers use dining rooms differently:

  1. Younger (under 30) and first-time home owners usually don’t care about a formal dining room. “They see it as wasted space that they would rarely use and would repurpose it into a home office, den, or media room. As long as the home has an eat-in kitchen, they’re happy,” Bohl says.
  2. Families with children want a formal dining room adjacent to the kitchen for family gatherings and holiday meals. “You can practically picture them bringing the Thanksgiving turkey to the table, as well as helping kids with homework,” she says.
  3. Downsizing baby boomers are trying to make their lives less complicated. A breakfast nook or eat-in kitchen works fine for most.

Regional Differences

While home owners should use rooms according to their needs, certain geographic areas and price ranges may inspire different uses. New York designer Mindy Miles Greenberg of Encore Décor says that most of her clients who are fortunate to have a separate dining room want to use them as such. “It’s a feather in their cap to have the luxury of so much space [in New York] and most want to show it off as such,” she says. That usually means decorating it traditionally with patterned wallpaper, chair railing, crystal chandelier, china cabinet, area rug, puddled curtains, silver- or gold-leafed ceiling paper, and a formal, sometimes inherited table and chair. “We try to use what we can,” Greenberg says.

Throughout the Northeast, dining rooms are important for families on weekends and holidays because outside dining is restricted usually to summer, says Anne Millians-Roche, e-Pro, president, cofounder, and qualifying broker of Owens Realty Network in Winter Park, Fla. But in the South, where the climate is warmer, buyers usually prefer large outdoor areas to entertain. “The interior formal room is considered wasted space,” she says.

In the more traditional Midwest, St. Louis-based designer Denise Fogarty tries to break out of expected staidness by painting walls a nonneutral color and upholstering host and hostess chairs, sometimes with different fabrics on front and back.

And in more casual California, Christopher J. Grubb, owner of Arch-Interiors Design Group Inc. in Beverly Hills, says many clients want a room that seats eight to 10 people but looks untraditional so they’re not afraid to use it. Instead of crystal chandeliers and Persian rugs, he might meld black and white family photos, contemporary light bulbs strung on a wire, plants, upholstered seating, and an audio system. If the room is meant to occasionally serve another function, such as an office, he suggests concealing a work surface.

Designer Kimba Hills, owner of Rhumba, a design store and firm in Santa Monica, Calif., follows a similar strategy. She might mix a 19th century dining table with 20th century upholstered chairs and add bookshelves and a modern chandelier hung low for intimacy. She recommends a round table where possible because it’s more conducive to conversations and eliminates favored seating. “You never have a bad seat at a round table,” she says.





Sunday, September 5, 2010

Ibis Country Club

I hope everyone finds time to enjoy the beautiful (if a bit humid) weather this weekend. I was in Ibis Country Club previewing homes for a gentleman in New York looking for a home, and the deals you can get in this well respected community are amazing. They offer everything from town homes to estates, at prices that make you imagine upgrading to the country club lifestyle. Ibis has golf memberships available, which some communities do not.... Please call me to go drive thru the lush beautifully manicured lanscaped communities of Ibis.

Friday, September 3, 2010

Pending Home Sales Rise!

More positive news out there The tides are changing and it isn't just due to the hurricanes! Enjoy the holiday weekend, and feel free to call me and schedule home tours if you want to buy.

WASHINGTON – Sept. 2, 2010 – Following a sharp drop in the months immediately after expiration of the homebuyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June; it’s 19.1 percent below July 2009 when it was 98.1. Pending sales data reflects contracts and not closings, which normally occur with a lag time of one or two months.

“Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” says Lawrence Yun, NAR chief economist. “But the recovery looks to be a long process. Homebuyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.”

On the other hand, homes have not been this affordable in recent memory. “Affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates, helped partly by the Fed’s very accommodative monetary policy,” says Yun. “The loan underwriting standards are tighter, but homebuyers can improve their chances of getting a loan by staying well within their budget.”

The PHSI in the Northeast rose 6.3 percent to 62.5 in July and is 21.1 percent below a year ago.

In the Midwest the index increased 4.1 percent to 66.7 and is 25.7 percent below July 2009.

Pending home sales in the South rose 1.2 percent to an index of 86.3, and are 15.6 percent lower than a year ago.

In the West, the index jumped 11.6 percent to 95.0 and is 17.6 percent below July 2009.

The national index had fallen 29.9 percent in May and another 2.8 percent in June.

© 2010 Florida Realtors®

Wednesday, August 25, 2010

The best moves for home buyers and sellers

(Money Magazine) -- Plenty of forces, from overly cautious lenders to inaccurate appraisals, are wrecking real estate deals right now. But one of the biggest roadblocks to getting a house sold these days is the disconnect between buyers and sellers.

In general, sellers have gotten more realistic in pricing their homes than they were right after the housing bubble burst, but agents say that many still don't grasp how much they must concede to close a deal. And buyers are still spraying lowball offers around in hopes that sellers will be desperate enough to bite.

Take such unreasonable expectations, multiply by two, and what do you get? "A standoff," says Glenn Kelman, CEO of real estate brokerage Redfin.

With the busy summer home-sale season drawing to a close, there's little time to waste. Whether you're trying to unload your place or land a new one, follow these dos and don'ts to negotiate the best deal -- fast.

If you're buying

Don't say: "I'll pay 85% of your asking price and not a penny more."

Instead: Look for homes that are fairly priced and make a reasonable offer. "Coming in about 10% below list is a good starting place for negotiations now," says Denver real estate broker Jeff Fogler. Yes, you have the upper hand in most markets, but the average homebuyer is paying only 2.7% below list price (see the chart). Set your expectations accordingly. You can always ask if the seller is willing to bridge a price gap in other ways -- for example, by picking up your closing costs (which can run $7,500 on a $300,000 house).

Don't say: "I haven't put my own place on the market yet."

Instead: List your current home before you start shopping seriously for the next one. Because it takes almost three months to move a house these days, sellers are loath to write home-sales contingencies into purchase contracts. You'll have far more leverage if you've gotten rid of your house before you start negotiating: Sellers know there's less chance of the deal falling apart. (Prequalifying for a mortgage helps too.) What's more, you'll know exactly how much money you can put into your new digs.

Don't say: "This is my dream house."

Instead: Stop imagining the great parties you'll throw there and gird yourself to walk away if the seller won't make reasonable concessions. Your ability to abandon negotiations is your most powerful bargaining chip. Given that plenty of other homes are on the market now, finding another place to love shouldn't be too hard. You might let the seller know that. Nicely.

If you're selling

Don't say: "You're offering how much? Forget you!"

Instead: When bidders lob low-balls at you, thank them for their interest -- and ask that they come back with earnest offers. "If you become offended, enraged, or unreasonable, you've blown any chance at negotiation," says Warwick, R.I., real estate agent Ron Phipps. These days many buyers are just testing you to see how big a discount they can get. Point the bidder to comparable recent sales that support your list price. (Received several super-low offers? Check the comps to make sure your price isn't too high.)

Don't say: "I didn't know the deck was rotting."

Instead: Pay a few hundred dollars to get your house inspected before you put it on the market. Then arrange to make any necessary repairs yourself. (In most states the law requires you to disclose to potential buyers any defects of which you're aware.) "Taking care of any inspection issues upfront helps sellers limit the points that buyers can negotiate on," says Pat Lashinsky, CEO of the national brokerage ZipRealty.

Don't say: "It might take us a while to move out."

Instead: Make sure to tell buyers -- especially those who might have children starting school this month -- that you're willing to scram pronto, if possible. That will help you stand out from any short sales in your area, which may have lower list prices but can take months to close. "If the buyers have a strict time limit, they're going to pay more money to get into a house quickly," says Ellen Klein, a realtor in Rockaway, N.J. More money plus more speed: That's what it's all about.

by Beth Braverman

Tuesday, August 3, 2010

Second Chance for Horses


Matt Seacrist started Second Chance for Horses, a nonprofit rescue, just as the economy slid into a recession. In spite of an uphill battle for financing, Seacrist and his partners, Dezeray and Mike Peters, manage to keep taking in and rehabilitating the horses no one else wants.

"People call me from the race track or dump off horses they don't want or can't take care of anymore," Seacrist said.

Second Chance is on leased property in Parkland. They also have a another location in Okeechobee. Dezeray Peters takes horses to Okeechobee to have more room to train them.

"It started with a couple and now she has six up there. We go back and forth a lot," Mike Peters said.

Training involves teaching ex-racehorses how to relax and be ridden for pleasure.

"Most of the horses here are racetrack thoroughbreds who have retired from the track, either because they weren't fast enough or because of an injury that precluded them from ever working that hard again," Mike Peters said.

Although Second Chance rescues any kind of horse, their focus is on racehorses. Seacrist wants to rehabilitate racehorses in part to change the public's perception of them.

"People don't want to touch thoroughbreds because they think they're psycho," Sea crist said. "But once they get off the track and get off the drugs, they are nice, calm animals."

Second Chance has 13 horses at their Parkland location and six in training in Okeechobee.

"We need to start moving the healthy horses so we have room for more," Mike Peters said. "We've been having a big problem since this financial crunch hit. It's harder to get donations and it's harder to find them homes. People just can't afford it right now."

Anyone who wants to take a look at a horse can view photos and descriptions on the website, www.secondchance

forhorses.org, or schedule an appointment to come to the barn and meet the horse. Donations also are accepted through the website.

"I want to make a real impact, and it's hard without money coming in," Seacrist said. He works full time and is keeping the nonprofit afloat himself.

"Right now, I'm supporting it," he said. "I'm buying feed. Finish Line Feed in Davie donates all kinds of stuff to me. They give us feed and hay. They have been a really big supporter for us."

Second Chance could also use additional volunteers.

"We want people to know that we're here. We could use help, either financially or by people coming out to volunteer."

In spite of the strain on his budget, Seacrist refuses to give up on the rescue. He's taken on second jobs in order to keep it running.

"Eventually I'd like to get bigger," he said. "I'll work myself to death to keep it going. I'm into it too deep to stop now."

By AMY BOWER DOUCETTE

Saturday, July 17, 2010

More signs of improvement..... I had a buyer looking in Delray Beach, and 3 listings she liked all had offers on them within the 2 weeks we were looking. Luckily, she was able to negotiate a contract on her her favorite house! The Caloosa market is also getting busier with people contacting me to show them homes. Summer is a fun filled, relaxing time, but remember that many people want to move before school starts or soon after, so now is the perfect time to list your home.

Saturday, July 3, 2010

A great website for Things to do with Children

Hey there, while searching the net for things to do with my young nieces, I stumbled across http://www.grandparents.com/gp/events/westpalmbeach.html. This is a great website that allows you to search for everything you can do with children including, outside activities, sports, animal attractions, museums (when it is too hot for outside fun), evening concerts and events, restaurants, and lots more.

Two of the great things about this site is that you can search by age group, and it has information about many different cities. So, when you are stumped over what to do, and the little ones are "bored", check out this site!

Friday, July 2, 2010

Homebuyer Tax Credit has been extended!

Obama signs extension bills

On July 2, Pres. Obama signed into law HR 5623, the Homebuyers Assistance and Improvement Act of 2010, which extends the homebuyer tax credit closing date to Sept. 30, 2010, for qualified buyers with a purchase contract that was signed by April 30, 2010. He also signed HR 5569, which retroactively reauthorizes the Federal Emergency Management Agency (FEMA) to enter into new contracts for flood insurance under the National Flood Insurance Program through Sept. 30, 2010.

Tuesday, June 22, 2010

Florida’s existing home, condo sales rise in May


A total of 16,745 single-family existing homes sold statewide last month compared to 14,172 homes sold in May 2009, according to Florida Realtors. The statewide existing-home median price of $140,400 in May was slightly higher – by $300 – than April's statewide existing-home median price of $140,100. It marks the third month in a row that the statewide existing-home median price has increased over the previous month's median.ORLANDO, Fla., June 22, 2010 – Sales of existing homes in Florida rose 18 percent in May, marking 21 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

Across the state, a variety of housing opportunities continues to be available at attractive prices while mortgage interest rates remain historically low, said 2010 Florida Realtors President Wendell Davis, a broker with Watson Realty Corp. in Jacksonville.

"Favorable conditions like this spark buyers' interest," Davis said.

Saturday, June 19, 2010

Senate Approves Extension of Tax Credit Closing Deadline

06/16/2010

The U.S. Senate has passed an amendment that would extend the closing deadline of the homebuyer tax credit by three months.

Right now, qualifying homebuyers who were under contract by April 30 have until June 30 to close the deal. But because of the large volume of applications for lenders to process, concerns have begun to surface that some buyers may miss out on the tax break simply because of the backlogged pipeline.

The National Association of Realtors (NAR) says it has received reports that as many as a third of the buyers eligible for the credit have already been notified by their lender that they won’t make the June 30 closing deadline.

The Senate’s amendment, approved Wednesday by a vote of 60 to 37, would give homebuyers and their lenders until September 30 to complete their transactions.

The extension was proposed by Senate Majority Leader Harry Reid, whose home state of Nevada still holds the title of one of the most distressed housing markets in the country.

Reid says not only did the tax credit make it easier for thousands of Nevadans to purchase their first home, it helped reduce the state’s overblown inventory of residential properties.

But a statement on his Web site warns, “There is growing concern that because of the time it takes for banks to complete transactions such as short sales, many of these home purchases would not be complete before the deadline through no fault of the homebuyer.”

The measure granting an extension is part of a larger $140 billion jobs and tax bill currently under consideration by the Senate. A Senate vote on the full legislation is expected to come later this week or next week, and then it will be sent to the House for review.

“If Congress fails to act promptly, then prospective homebuyers might not get the benefit of the homebuyer tax credit, even though they have completed contracts,” NAR stressed in a recent letter to lawmakers.


Friday, June 18, 2010

Buy fast vs wait for foreclosure process!

Builders see returning Fla. market

ORLANDO, Fla. – June 17, 2010 – Florida, viewed by economists as a hot spot of the country's housing and mortgage meltdown, is having a pickup in builder interest and activity.

Sensing a pending recovery in some of the state's markets – including Orlando, Jacksonville, and Tampa – builders are amassing land at bargain prices and passing the savings on to buyers by developing subdivisions of smaller and less expensive houses. The trend sets home builders up to compete with banks that are trying to unload foreclosed properties.

While analysts previously believed that Florida would generate little new demand for housing for years, and that buyers would instead buy foreclosures at deep discounts, property agents note that purchasing real-estate-owned units from a bank has proven to be complicated, time-consuming, and more expensive than anticipated.

Source: Wall Street Journal (06/15/10) P. B6; Whelan, Robbie

© Copyright 2010 INFORMATION, INC. Bethesda, MD (301) 215-4688

Monday, June 14, 2010

Cherry picking

Cherry picking has lots of meaning, from cherry picking the best home available for the price you are willing to pay, to cherry picking for a pie or cobbler. We went to a 200 acre orchid yesterday and picked cherries in a surreal setting, while the people near us were discussing which cherries were right for them. What was funny was they had different criteria for what makes the best cherries than what I had. I mentioned this at dinner last night, and it was really true. I thought that the best cherry was large, dark, and sweet, while another woman said she preferred small, tart cherries for her cobblers. This relates to choosing your dream home as well, as we all place different values on different features of a home. I don't want to get too deep, but I had a great time picking cherries, and will have a great time helping you choose the perfect home!

Saturday, June 12, 2010

Escape the South Florida heat

Wow, is it hot and humid enough for you? It was for me, so we jumped in the car with our 2 dogs and cat, and drove 10.5 hours north to Blue Ridge, Georgia where we own a beautiful cabin on a 5 acre lot. When we come to Blue Ridge, we feel as though we have stepped back in time where people are friendly, the stores are not commercial big box types, (although Walmart and Starbucks are 15 minutes away) and there is so much to do and see. Flowers are in bloom everywhere, and the temperature is warm, but not humid during the day, and it is cool and comfortable at night. We have introduced several of our friends to this magical retreat and they have also purchased second homes here. The funny thing is that we are always running into Floridians up here! We were having breakfast outside a cute restaurant and people from Jupiter sat down at the table next to us and began talking. I am writing this from my back deck, while sipping an iced coffee and watching the birds in the trees. More later...

Clear Capital Posts Largest Home Price Increase in Nearly Four Years

06/03/2010 By: Carrie Bay

National home prices in May came in 6.8 percent higher than a year earlier, according to a Clear Capital study released Thursday. It’s the largest annual increase recorded by the California-based real estate valuation firm since July 2006.
May’s gains followed the back-to-back 5.1 percent yearly gains achieved in March and April. Clear Capital also noted that the rolling quarter-over-quarter home price change of -1.8 percent in May is a “substantial improvement” over last month’s reported -5.0 percent quarterly variance.

“We continue to see sustained price growth throughout much of the country with yearly price gains reflecting the housing recovery off of last year’s lows,” said Dr. Alex Villacorta, senior statistician for Clear Capital.

Villacorta says it is interesting to note, however, that this current momentum is a far cry from where we were a year ago.

“In June of last year, we reported a national yearly decline of 19.3 percent, whereas the present report shows a 6.8 percent gain,” Villacorta explained. “This dramatic shift in price trends reflects the unprecedented volatility over the last couple of years and the delicate state of local real estate markets around the country.”

Villacorta also noted that the expiration of the federal homebuyer tax credit at the end of April has been a strong contributor to price growth. He expects markets across the country to continue to see strengthening of prices as more sales close before the June 30 closing deadline for the tax break. Like the divergent price trends from a year ago, Clear Capital also notes that the present REO saturation rate of 27.8 percent is a significant improvement from last year’s 41.7 percent.

Wednesday, June 9, 2010

BallenIsles New Sport Complex

I was invited to experience BallenIsle's new 62,000 sq ft sports complex last night, and I was amazed at how well thought out state of the art this facility is! I have never seen a country club with 22 tennis courts, 5,000 sq ft of exercise space with lots of the newest exercise equipment, a dedicated Pilates studio, aerobics and spinning studio, and a tropical pool with retractable lap lanes.

There is also a beautiful large full-service spa, hair and nail salon with relaxation lounges, private massage rooms, saunas, steam rooms, and pro shop, and Bistro 105, a casually elegant restaurant with indoor and outdoor dining.

The new sports complex has sparked interest from lots of buyers of all ages, and is making BallenIsles a hotspot for people looking to move into a Palm Beach Gardens country club. It is an amazing facility and really compliments the existing 3 golf courses, including the East Course which was just renovated by Keith Foster.

If you are looking for a home in a Country Club, please call me and I will take your for a tour of the facilities.

County Foreclosures Fall in May

I am continuing to see signs of recovery everywhere I look. Industry trends show that despite the doom-and-gloom predictions, the Palm Beach County foreclosure filings in May decreased for the third straight month in a row. Even more surprising, it is a 40% drop compared with May of 2009! Stan Humpries, chief economist for Zillow.com spoke at the National Association of Real Estate Editors conference, said that some areas in California are seeing a rebound of house prices as foreclosures are being depleated from inventory. If you are considering putting your home on the market, this is a great time to list your home, as the same is beginning to happen here.

Tuesday, June 1, 2010

Home Sales in Florida rose 24%

I honestly believe that we are past the bottom of the real estate market crash. Sine I also own a retail store, I have always tracked how the local economy is doing by going to the local mall and watching how many people are carrying shopping bags! This may be a simplistic way of gaging the economy, but what better, immediate sign of recovery can you ask for? If you don't want to follow just my study, the Florida Realtors just released the following report:

ORLANDO, Fla. – May 11, 2010 — Salesof existing single-family homes in Florida rose 24 percent in first quarter 2010 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 38,846 existing homes sold statewide in 1Q 2010; during the same period the year before, a total of 31,410 existing homes sold. It marks the seventh consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.

Statewide sales of existing condominiums in the first quarter rose 67 percent compared to the same time the previous year. This marks the sixth consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.

"The first quarter data release from the Florida Realtors paints a picture of a housing market continuing down the long road to recovery," said Dr. Sean Snaith, director for the University of Central Florida's Institute for Economic Competitiveness. "Transactions in the single family market have extended quarterly year-over-year gains for nearly two years, and condo sales have also risen sharply. Median prices in most areas of the state continue to fall; however, the rate at which they are falling has diminished significantly and this is indicative of a bottom approaching.

"How long prices stay at the bottom and when price appreciation will reappear will depend in a large part on the improving fundamentals in the economy and credit markets."

The University of Florida's Bergstrom Center for Real Estate Studies' latest quarterly survey of real estate trends also notes positive signs of recovery in the state's real estate industry. The survey polls market research economists, industry executives, real estate scholars and other experts.

"Results indicate that the real estate market in Florida has hit bottom and is in the process of stabilizing across most property types," said Timothy Becker, the center's director. Private capital – both foreign and domestic – continues to enter the state in search of quality investment deals, he added.© 2010 Florida Realtors®