July 2013

Found 4 blog entries for July 2013.

For quite some time developers had shyed away from any new projects in Palm Beach County - but in due time everything seems to come around.  We've created a new section on our website titled "New Communities" that should help you gain a better idea of what's currently available.  We will continue to add new developments to this list as we find them.  For now, here's quick access to that page.  http://goo.gl/SnPlqV
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Sharing news you can use from Florida Realtors.org -  July 23, 2013

Mortgage rates recently soared to a two-year high, prompting more borrowers to take a closer look at adjustable rate mortgages (ARMs).

Thirty-year fixed-rate mortgages have moved from below 3.5 percent as of late April to above 4.5 percent recently, increasing monthly payments for new homebuyers. Meanwhile, ARM rates have stayed relatively steady in recent weeks between 2.7 percent and 3.1 percent, according to Bankrate.

Adjustable-rate mortgages are often blamed for the housing bubble, luring buyers with their low introductory rates that later rise. Some homeowners were not able to afford the higher reset payments and defaulted on their loans. In recent years, fixed-rate mortgages

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Just last Saturday we listed a townhome for sale in a modest gated community here in Palm Beach County.  Fast forward to Monday - yes just two days later -  we already have four offers on the table - three ABOVE the asking price.  So if we could offer any advice to those searching for a new home it's this..... If you are not paying cash, be armed with your mortgage pre-approval letter that is RECENT (within the last three weeks) and be ready to make a FULL price offer.....for as the saying goes, "When you snooze - you lose" - well in this scenario anyway!  Happy Tuesday everyone!
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West Palm Beach, June 20, 2013 – Year over year, new listings in the $200,000 to $400,000 range increased dramatically. Single-family homes priced between $250,000 and $300,000 increased 20 percent and 41.2 percent in the $300,000 to $400,000 price range. Townhomes and condominiums increased 36.6 percent in the $200,000 to $$250,000 price range and 39.1% in the $300,000 to $400,000 price range. What does this mean? According to Barb Kozlow, 2013 President-Elect of the Realtors® Association of the Palm Beaches (RAPB), “The pent-up demand and limited inventory has leveled the playing field. Homeowners with property values that are in the $200,000 and $400,000 ranges are in a much better position to sell than a year ago.”

In May, the median price of

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