Homes sales in the United States have shown strong increases since February, showing more improvement than estimated by many analysts.

Sales for single-family homes, town homes, condo and coops rose 5.1 percent from 4.49 million units in January to 4.72 million units in February.

Concentrating on lower price ranges, first time homebuyers are accounting for around half of all home sales. Many of the first time buyers are concentrating on distressed properties and bargains, accounting for nearly 40 to 45 percent.

In February the national medium used-home price was $165,400. The median is the price at which half sold for less and half sold for more.

Lawrence Yun, NAR chief economist noted “Given the downward distortion in price comparisons due to distressed sales, it’s important for owners to keep in mind that doesn’t equate to a similar loss of value for traditional homes in good condition.” 

NAR President Charles McMillion said “The number of buyers looking for homes rose 5 percent in February, and also was 5 percent above a year ago,” he also said “It appears most of the increase in buyer traffic occurred in the later part of the month, after the $8,000 first-time buyer tax credit was put in place. At the same time mortgage purchase applications have risen, so we expect to see sales picking up around late spring.”

“In this changing market, smart buyers and sellers consult with Realtors who can advise them about current conditions in their area and counsel them on the best way to move forward,” he said.

Call Palm Beach’s Real Estate Specialists at Scott Gordon Realty to assist you with your home buying or selling needs.

Scott Gordon Realty – 561-533-5888 www.scottgordonrealty.com
 

Included is the Sales Data as mentioned in the Palm Beach Real Estate Guide.

Once again, amid news that Palm Beach County’s property values are plummeting, the towns of Palm Beach and Manalapan continue to see their property values rise.

According to the Property Appraiser’s office, overall property values in Palm Beach County fell by 7% within the past year – except for 5 towns which saw their numbers rise.

Out of the County’s 38 municipalities, Palm Beach, Manalapan, Mangonia Park, Gulf Stream and Jupiter Inlet Colony were the only ones to see an upswing in their estimated taxable value from 2007 to 2008.

The largest rise is in Manalapan, with a 7.23% increase, next is Palm Beach with a 6.18% rise, Jupiter Inlet Colony’ value rose 3.09%,  Mangonia Park and Gulf Stream round out the last of the rising property values with 1.77% and 1.71%, respectively.

A 62,000 square-foot oceanfront mansion owned by Donald Trump has reportedly sold for its full asking price of $100 million to an unnamed foreign buyer.

Trump bought the 6-acre property in 2004 for 41.35 million and spent $25 million renovating it to include nine bedrooms, media room, wine room, art gallery, conservatory, ballroom, two guest houses and a 48-car garage.

Trump predicted he would sell the property at that exact price three years ago, before it ever went on sale.  After toying with the idea of converting the property into a luxury hotel, he dropped his original asking price of $125 million recently, after reportedly turning down offers ranging between $85 and $90 million.

According to reports, the unnamed buyer is contemplating tearing down the current structures and perhaps dividing the land into multiple parcels.

Since 1917, the property has been bought, sold, razed and remodeled several times over by prominent businessmen, including a family member of the founder of Dun & Bradstreet, the onetime president of Standard Oil and chief executive of Limited Brands, Inc., among others.

The Palm Beach Daily News has proven to be an effective way for us to reach our audience.  The following article appeared in the January 18, 2008 issue.

Friday, January 18, 2008

Scott Gordon Realty and Exclusive Estates, a division of Scott Gordon Realty, has announced the debut of three new Web sites:  ScottGordonRealty.com, ExclusiveEstates.info and PalmBeachCondos.com.

With more than 70 percent of home buyers and sellers looking to the Internet to do their initial research for properties, Gordon says they have redesigned a user-friendly Web platform to ensure that buyers and sellers have a positive interactive experience in accessing the information they need.

The new sites incorporate rotating graphics and a dynamic menu of interactive features for re-sale properties as well as new construction.  The sites feature an extensive nventory of listings for Scott Gordon Realty and Exclusive Estates, with the main focus targeting properties for sale in Palm Beach, Manalapan, Point Manalapan and Hypoluxo Island as well as the northern end of Palm Beach County with numerous listings in Mirasol and Ibis Country Club.

Gordon is also incorporating and IDX (Internet Data Exchange) "intelligent link" to let users easily search properties in surrounding towns and communities.  Detailed data for each listing can be printed out, and appointments to see a particular property can be arranged via the Internet.

As he explains it, property information will be downloaded daily from the Multiple Listing Service and will include virtual tours, photographs and descriptions of each property.  A "Home Update" feature will alllow registered users to save properties, save searches and receive automatic e-mail updates with new properties that match their criteria.

To make the Web platform a success, it will be closely monitored to prevent it from being dropped off search engines or removed for "spamming" or over-submission.  Adjusting keywords and adding new content will help optimize the exposure of the site via search engines, they note.

Gordon is excited about this new project, which he says is part of their overall marketing plan for each listing.  It reflects a proactive approach between the property owner and the real estate consultants to foster a "win-win" relationship for buyers and sellers, in person and on the Web.

Scott Gordon Realty is at 255 S. Ocean Blvd in Manalapan; call (561)533-5888.