Election day 2018Election day is Tuesday, November 6, 2018, and Boca Raton real estate owners face some decisions. There are 12 proposed amendments on the ballot in Florida, two of which affect homeownership and property taxes. Following is a summary of these proposals:

Amendment 1: Increased Homestead Property Tax Exemption

This proposal grants an additional $25,000 Homestead Exemption for properties valued over $125,000. There are also some increases for properties between $100,000 and $125,000. This would apply to all levies other than school districts and would take effect January 1, 2019.

If this amendment, commonly referred to as the “Third Homestead”  is approved by voters, it will be worth an additional $200-300 (approximately) tax savings for those…

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16300 Via Venetia N, Delray Beach

 

My listing in Mizner's Preserve just sold for $631,000!

After being on the market for under 3 months, we closed the deal in just 14 days. The first-time homebuyers are thrilled to be moving into this spacious home in a highly desirable community.  The home has a fantastic floor plan, with 4 bedrooms, and 4.5 baths, high ceilings, and a spacious yard with a pool.

Mizners Preserve is a beautifully maintained, highly desirable community, with easy access to A-rated schools, the hospital, I -95, the Florida Turnpike, and a house of worship. The amenities include a 24/7 manned security gate, and a state of the art clubhouse that features 3 tennis courts, a pool with spa/hot tub, a gym, a playground for…

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Are we in a bubble? Over the summer it seemed everyone was speculating upon whether or not we are in the midst of a housing price bubble. It is too early to predict a market shift in residential real estate, but there are some common indicators that contributed to the previous market crash rearing their heads again. 

Affordability Concerns

Wage increases have not kept the same pace as home prices, leading to affordability concerns - particularly with lower-priced homes. Additionally, predicted interest rate hikes will continue to affect borrowers’ buying power. 

Supply Concerns

On the other hand, demand continues to outpace the supply of available homes in many markets. This trend leads to increased prices overall. Median Sales Price of…

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 A luxury oasis in the heart of Downtown Boca Raton:  $1,365,000.00

 228 E Boca Raton Rd

 

This elegant and timeless British West Indies-inspired townhome, built in 2001, has been meticulously maintained, boasts 10' ceilings, abundant natural light, all impact windows, and a state of the art kitchen. The A/C, pool heater, hot water tank, and W/D are all new. A brick paved walkway leads you to a solid mahogany security gate, a private covered courtyard entrance with lush foliage and the soothing sounds of a decorative water fountain. You will love coming home to this oasis in the middle of prestigious Downtown Boca Raton.

Enjoy an amazing new gourmet kitchen just right for for cooking and hosting, with fantastic upgrades: All new quartz…

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16300 Via Venetia N, Delray Beach: $720,000.00

 

 

Enjoy easy living in this one story, 4 BR+ office/den home on an extra large private lot, with a fantastic open floor plan and high ceilings, in beautiful Mizner’s Preserve! Every bedroom has its own bathroom and the master bedroom features three custom walk-in closets.

Natural sunlight streams in through lots of large windows and the whole interior has been painted in neutral colors. You have great storage in your 3-car garage, one of which has been turned into a storage room and can easily be converted back.  Start or end your day in your own private haven by the pool/patio or grassy area behind your home with only landscaping behind you. 

 

 

 

Mizners Preserve is a…

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June’s performance for the Palm Beach County real estate market for existing homes largely reflected the prevailing trends that we had seen for 2018 thus far, as revealed in the latest market statistics from Florida Realtors.

Closed Sales

Overall, 50 fewer single-family homes sold in Palm Beach County in June 2018 as compared to June 2017, a 2.7% decline. Meanwhile, 60 more condos and townhouses sold this past June, an increase of 4.9% compared to the same period the previous year. The number of closed sales year to date (January-June 2018) did not change from the previous year for single-family homes and rose 4.3% for condos/townhomes. 

Inventory

The absence of sales growth (especially in single-family homes) of the past couple of years is due…

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 If you are thinking of buying or selling a property in the Boca Raton area, you probably have some preconceived ideas about the process. Here are a few of the common misconceptions that we agents encounter:

  1. You should list your house a little bit higher than the market to leave room for negotiating. Anyhow, if it is priced too high you can always lower it.
    Listing your home at too high a price might actually result in you getting less than if you had priced it properly from the start. With virtually all buyers doing research online, they are very well-informed about the state of the market and what prices should be. Buyers and their agents will not look at a property that they perceive as overpriced. The more buyers that see your house, the…

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Florida is one of only seven states that does not have an income tax, the others being Alaska, Nevada, South Dakota, Texas, Washington, and Wyoming. Florida has been a popular retirement destination for years because of its great location and climate, but as more people are able to work remotely, the no-tax incentive is attracting non-retirees as well.

Now there is even more of an impetus for people to relocate to Florida with last year’s Tax Cuts and Jobs Act, which limits the deductibility of state and local taxes (SALT) starting in 2018. Some of the states with the highest income taxes are California, New York, and New Jersey. With rates ranging from close to 9% up to over 13%, the inability to deduct these taxes strikes a huge financial blow to…

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Palm Beach County’s housing market reported rising median prices along with reduced listing inventory in May 2018 as compared to May 2017, according to the latest housing data released by Florida Realtors®. 

Notable facts from the latest statistics include:

The Market for Single Family Homes and Condos/Townhomes is Different
The median price of closed sales in Palm Beach County for single-family homes continues to rise, with a 5.7% increase from the same period last year. The median price now stands at $354,000 for single-family homes. The median price has increased every month this year for single-family homes. 

The median price for condos and townhomes did go down somewhat this month as compared to the previous year, as well as month to…

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This 4 bedroom, 4.2 bath contemporary style home, that I found for my delightful buyers, sits on just under half an acre of land that precedes the dramatic lake view. 

With over 4,400 total square feet of living space that encompasses top-of-the-line amenities and elegant furnishings, this home sold for a $2,100,000! 

The magnificent estate has been completely renovated to embrace a more modern, yet inviting look. The hurricane-resistant, floor to ceiling windows beautifully accentuate the open floor plan to allow natural, bright light to engulf the entire home. Glamorous new additions such as Italian porcelain and wood floors, impressive custom kitchen cabinetry, opulent Thermador appliances, and a 24 inch wine cooler have been supplemented…

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