Sold Homes! April 2009

This report shows Sales for Zip Code 33480 in Palm Beach.

Home sales are up in April from previous month. In March 09 there was 1 single family home sale, in April 5 homes were sold. Condo sales were also up, 16 sold in March to 22 sold in April.

Single Family  [ 5 Sold]

$3,000,000 250 Pendelton Ave
$2,650,000 220 Esplande Way
$2,500,000 235 Atlantic Ave
$1,650,000 216 Bahama Ln

Condo  [ 22 Sold]
$4,800,000 3000 S Ocean Blvd PH6
$3,450,000 400 S Ocean Blvd 203/204n
$2,250,000 100 Royal Palm Way B4
$2,250,000 3000 S Ocean Blvd 406
$1,962,000 300 S Ocean Blvd 2A
$1,750,000 400 S Ocean Blvd 418E
$1,725,000 3170 S Ocean Blvd. 502S
$1,300,000 2100 S Ocean Blvd 303N
$1050,000 2100 S Ocean Blvd 607S
$825,000 2580 S Ocean Blvd 1C1
$775,000 2600 S Ocean Blvd 301N
$750,000 3600 S Ocean Blvd 504
$730,000 44 Cocoanut Row B412
$600,000 3400 S Ocean Blvd 6E1
$330,000 3400 S Ocean Blvd 1B1
$320,000 3501 S Ocean Blvd 402
$225,000 2295 S Ocean Blvd 511
$200,000 3575 S Ocean Blvd 104
$175,000 3450 S Ocean Blvd 706
$150,000 3589 S Ocean Blvd 810L
$135,000 4500 S Ocean Blvd 505
$125,000 3589 S Ocean Blvd L33

Sold Homes!  March 2009

This report shows Sales for Zip Code 33480 in Palm Beach.

March 2009

Single Family  [1 Sold]
$12,500,000  1620 S. Ocean Blvd.

Condo  [16 Sold]
$2,100,000 330 Cocoanut Row
$2,000,000 170 N Ocean Blvd 501
$1,900,000 300 S Ocean Blvd PHE
$1,050,000 2580 S Ocean Blvd 1C6
$659,000 3440 S Ocean Blvd 401N
$630,000 2784 S Ocean Blvd 101N
$550,000 3546 S Ocean Blvd 824
$370,000 3300 S Ocean Blvd 207N
$350,000 3440 S Ocean Blvd 306N
$317,000 3546 S Ocean Blvd823
$285,000 2784 S Ocean Blvd 504S
$266,000 3525 S Ocean Blvd 210
$251,500 3546 S Ocean Blvd 323
$177,500 3520 S Ocaen Blvd 203H
$155,000 235 Sunrise Ave 1109
$145,000 235 Sunrise Ave MZT

* All information is deemed reliable but not guaranteed and may change without notice.

When looking for a new home, many people are tempted to go it alone.  This usually ends up being quite a daunting task, even for the most tenacious and focused homebuyer.  Here are 10 ways that having a Realtor on your side can help:

1. Realtors research desirable neighborhoods and can relay important information to homebuyers such as home values in the area, amount of taxes paid and zoning restrictions.
2. Realtors can help find financing, prequalify you for a loan and can refer you to home inspection companies.
3. With knowledge about the way other homes in the area are selling, a Realtor can help determine a fair buying price.
4. A Realtor can suggest changes to make to the home to make you more comfortable and to make it a better investment, should you need to sell it in the near future.
5. Realtors can handle many of the tedious tasks – such as paperwork – for you, saving you time and energy.
6. A Realtor usually goes to the closing with you, giving you peace of mind that if an issue should come up, it will be taken care of effectively.
7. Realtors must abide by a code of ethics, treating everyone involved in the transaction fairly and equally.
8. A Realtor has the tools and ability to find the best suited home for you in the most affordable price range.
9. Simply put, a Realtor has the professional experience to put in the time and effort and do the job right.
10. A Realtor’s services are usually free to a buyer – commission is normally paid by the seller.

According to a report by the Florida Association of Realtors, newly lowered prices of existing single family homes is the main reason for the Treasure Coast’s 43% rise in sales, the largest annual percentage gain in the state.

After months of sales dropping in the double digits, Palm Beach County’s sales dropped only 3% last month from last year’s levels, another positive sign that the market is stabilizing.

Sources at the Realtors Association of the Palm Beaches agree, saying that buyers have been waiting to see how much prices will drop.  And they did -- median prices of existing homes in Palm Beach County fell 12% to $334,300 since June 2007, and in Martin and St. Lucie Counties, median prices fell 32% to $160,800.

Also according to the report, existing condominium sale prices fell 24% since June 2007 to a median price of $153,200, making them more affordable to first-time buyers. Martin and St. Lucie counties’ media price fell to $165,000 – a drop of 28%.

This reflects two things, according to analysts.  One – sellers are becoming more realistic about pricing their properties, and two – the amount of foreclosures in the upcoming months will drive down prices in the next 24 months.

Across the state, existing home sales fell 5% compared to last year’s figures.  Nationally, sales fell by 15%.  These low sales levels also mean lower prices – the median price dropped by 7% compared to figures from last year. 

Economists warn that there is still a way to go, but are hopeful that this is at least the beginning of the end.

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.