Yearly Archives: 2009

Just Sold | Long Lake Estates Mediterranean Masterpiece

LUXURY RESORT PORTFOLIO
Proudly Announces Another Landmark Sale

Leading the luxury real estate market with our strategic
Global Marketing Exposure

CLICK ON IMAGE

JUST SOLD
Mediterranean Masterpiece

Long Lake Estates
8465 Twin Lake Drive | Boca Raton, FL 33496

$5,295,000 US

Specializing in properties of distinction on South Florida’s Gold Coast, Luxury Resort Portfolio provides the highest level of customized service, matched and exceeded only by the highest level of performance exemplary of the exceptional real estate our firm represents. Luxury Resort Portfolio has the skills and advantages to facilitate transactions and bring about the results our clients expect. Our definitive Global Marketing Exposure promotes each individual property with targeted advertising and marketing, strategy development and the superlative representation it needs to obtain a successful sale in today’s volatile real estate market.

Our Global Marketing Exposure and professional expertise have proven to be vital assets. Successfully demonstrating numerous benchmark sales from our portfolio. We are confident through our extensive marketing and negotiating techniques in the Luxury Real Estate market, and the exposure through the most advanced techniques in interactive technology, that we can achieve your Real Estate goals, and bring about the results you want.

Facebook: Luxury Resort Portfolio
VIEW LINK: http://www.facebook.com/BocaRatonLuxuryRealEstate

Twitter: TheSmithsLRP

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Global Marketing Exposure

CLICK ON THIS LINK TO VIEW ENTIRE LIST



Contact us for details, we look forward to sharing our expertise in the marketing and selling of the finest properties South Florida has to offer. Luxury Resort Portfolio welcomes your inquires in how we can facilitate your next real estate transaction.


Luxury Resort Portfolio

“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

___________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

Long Lake Estates | The Quintessential South Florida Lifestyle

Long Lake Estates, situated along Boca Raton’s “Millionaire Mile”, is the embodiment of South Florida real estates luxury and privacy. Here in this exclusive, gated enclave of custom built one acre estate homes, you can truly relax, secure in the knowledge that you have your own private haven, secluded from the rest of the world.




All of Long Lake Estates real estate has been custom-built and every Long Lake Estates homes for sale is unique. Each home site in Long Lake Estates has lushly landscaped tree lined lots of at least one-acre in size, adding to the community’s aura of serenity, exclusivity and park-like setting. The lavishly manicured landscaping, as well as the panoramic waterfront views of Long Lake Estates real estate, enhances the inherent beauty of the individual estates even further.



Located in the heart of Palm Beach County along Clint Moore Road, Long Lake Estates real estates South Florida Boca Raton location is minutes from downtown historic Delray Beach’s gourmet dining along Atlantic Avenue, Palm Beach’s Worth Avenue luxury brand shopping, and Ft. Lauderdale’s yachting paradise of Las Olas Boulevard. The Gold Coast community of Long Lake Estates lies between the St. Andrews Country Club and The Oaks at Boca Raton, and is only a 15 minute drive to the Boca Raton Private Executive Airport, while Palm Beach and Ft. Lauderdale International Airports are only a half an hour away. The Intracoastal Waterway, miles of white sand golden beaches and the Atlantic Ocean, are close by as well.




Discover what Long Lake Estates real estate can offer buyers and investors with discerning tastes. For more in-depth information on this premier one acre lot, custom built estate community, contact The Smiths of Luxury Resort Portfolio today and see why they are … “The Definitive Source For Luxury Real Estate In South Florida.”


For more information on Long Lake Estate homes and everything that this exclusive community has to offer, please contact The Smiths.


Luxury Resort Portfolio
“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

___________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

Mizner Country Club | One of South Florida’s Most Distinctive Luxury Resort Enclaves


Gain Entry To A Life of Luxurious Possibilities

Located conveniently to the beautiful beaches along the Gold Coast of South Florida, Palm Beach’s gourmet dining, Mizner Park’s fashionable shopping, and Miami’s world class nightlife and entertainment, the exclusive Mizner Country Club is one of South Florida’s most distinctive luxury resort enclaves. Owners of Mizner Country Club real estate enjoy a life of ease and relaxation in a lush setting evocative of Old World Florida.


Inspired by the architectural vision of historic Addison Mizner, Mizner Country Club real estate is characterized by the elegance and rich detailing of the Mediterranean Revival style. There are less than 500 luxury homes in this 384-acre community, a number of which are completely custom-built. Homes here are nestled around and within sight of the Arnold Palmer Signature designed 18-hole, par 72 golf course that is the community’s crowning glory.



Mizner Country Club real estate ranges in size from 2,700 to 9,200 square feet and there are almost two dozen different designs and floor plans. This is excluding the custom-built estates, whose specifications are unique to each property.



A Toll Brothers community, Mizner Country Club benefits from the highest quality standards of the respected and award-winning luxury home builder. Toll Brothers, Inc. has been named America’s Best Builder, National Builder Of The Year, and has been the recipient of the National Housing Quality Gold Award. The builders of the custom residences are National Custom Homes, Tuscan-Harvey Estate Homes, Courchene Development Corporation, and New Millennium Builders.



Where The Good Life, Is A Way Of Life

When you invest in Mizner Country Club real estate, you gain entry to a life of luxurious possibilities. Among the many amenities that residents of this plush enclave enjoy are its Arnold Palmer Signature Golf Course, a tennis and fitness center, and its Grande Clubhouse and Palazzo dining facilities.



The 6,734-yard, par 72 course has five sets of tees to challenge players of all levels. It has a course rating of 72.7 and a slope rating of 136 on Bermuda grass. Most home sites of Mizner Country Club real estate have views of the course, as well as of the many lakes that surround the landscape.



Overlooking a stretch of the golf course is the spectacular 42,000-square-foot Grande Clubhouse, built in the graceful and airy Palm Beach style that characterizes the rest of the community. The Grande Clubhouse has an atmosphere that combines warmth and elegance replete with golf pro shop, spa services, card rooms, and a variety of dining areas ranging from casual to formal.

More amenities can be found at The Palazzo, Mizner Country Clubs 17,000-square-foot pool side, tennis and fitness center. The Palazzo features six lighted Hydro-Dri clay courts, state-of-the-art fitness equipment and facilities, a casual grille, an outdoor pool and spa, and eight VIP hotel guest suites.



Mizner Country Club real estate’s location near the Ocean and the Intracoastal Waterway gives residents even more recreational options. If you’d like to go boating or enjoy the beaches of the Gold Coast, all this is a mere 15 minutes away. As for shopping, entertainment and culture, there’s more than enough variety to choose from due to its proximity centered between Miami’s South Beach and the island of Palm Beach, with Boca Raton and Downtown Delray Beach just minutes away. Mizner Country Club real estate is also conveniently located between Ft. Lauderdale and Palm Beach International Airports, and only a short drive to the Boca Raton Private Executive Airport.

For more information on Mizner Country Club homes and everything that this exclusive community has to offer, please contact The Smiths.


Luxury Resort Portfolio
“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

___________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

Long Lake Estates | Boca Raton, FL 33496


Mediterranean Masterpiece

Long Lake Estates
8465 Twin Lake Drive
Offered at $5,295,000 us




In the privacy of prestigious Long Lake Estates,a sprawling lakefront estate imbued with gracious Old World charm. A quiet tropical oasis, prestigious Long Lake Estates offers the utmost privacy with large estate properties nestled on a serene lake in gated seclusion. Long Lake Estates is a prestigious gated enclave of 1+ acre estates, beautifully sited on a tranquil lake surrounded by lush foliage. Superb beaches and Mizner Park’s world-class shops and restaurants are close by.



In a beautiful lakefront setting, this expansive Long Lake Estate brings together state-of-the-art luxury and gracious Old World character in Boca Raton, Florida. Grandly scaled for indoor/outdoor entertaining, this sprawling Long Lake Estates 14,000+/- square-foot home lends an inviting atmosphere with a subtle palette and charming Moorish-inspired details. Turkish marble floors, coffered ceilings, and stone columned archways are showcased throughout.



Accented with an elaborate floor-to-ceiling stone fireplace, the soaring formal living room is dominated by dramatic lake views across the infinity-edge pool. An outdoor fireplace appoints the lovely lakeside loggia by the pool. Family, staff, and guests enjoy maximum privacy with seven bedrooms including a luxurious master suite, VIP suite, guest wing, upper-level staff quarters, and a separate guest house. Distinguished by exceptional design and impeccable appointments, this magnificent Long Lake Estates residence affords luxurious lakefront living in an exclusive estate enclave.



Property: A private haven in a lushly landscaped lakefront setting, this sprawling Long Lake Estates Moorish-inspired estate affords unparalleled indoor/outdoor entertaining with 14,000+/- total square feet. Lakeside gatherings center on the elegant infinity-edge Pool with Spa. To either side are a charming stone Gazebo and a well-appointed Loggia with coffered ceiling, Turkish marble floor, stone gas-fired fireplace, and Summer Kitchen. The property is served by a sweeping brick pavered circular drive, culminating in a welcoming porte cochere. An auxiliary drive serves the side entry.



Residence: Superbly scaled and elegantly detailed, this stately Long Lake Estates lakefront villa offers 7 Bedrooms, 8 full and 3 half Baths, and a 6-bay Garage. Old World appointments include Turkish marble floors, coffered ceilings, stone columned archways, and elaborate moldings. Large windows with hurricane-impact glass and a back-up power generator are featured throughout.



Contact The Smiths – Luxury Resort Portfolio today for your personal viewing of this impeccable estate … and tour room after dazzling room that features design elements reserved for the worlds most tasteful home buyers.


Luxury Resort Portfolio
“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

___________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

Featured Property of the Week

Mizner Country Club
15956 D’Alene Drive | Delray Beach, FL 33446

Panoramic Triple Fairway Views

Offered at $2,449,000 US
MLS Number R3017005

Master craftsmanship is evidenced throughout this magnificent Mizner Country Club Santa Barbara-style villa totaling 7,887± square feet with 4 bedrooms, 4 full/2 half baths, elevator, and indoor/outdoor surround-sound system. Notable details include the authentic barrel tile roof, impact glass windows and exterior doors, interior doors of Arizona alder, hand-plastered walls, and pecky cypress ceilings.

Stately palms and cypress trees line the Chicago brick motor court arriving at the 3-bay garage and gated entry courtyard where a marble wall fountain and firepit establish the estate’s engaging air. Capitalizing on the stunning fairway views, the outdoor entertainment area features a beach-entry lagoon-style pool with rock waterfall spa spilling from an octagonal loggia with coral stone columns. The tumbled marble summer kitchen, cedar sauna, and outdoor shower are added luxuries at Mizner Country Club, Delray Beach 33446.

Luxury Resort Portfolio
“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

____________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

New To Market | Mizner Country Club

Mediterranean Masterpiece

Mizner Country Club |16289 Mira Vista Lane |Delray Beach, FL 33446

Offered at $1,275,000 US



Immerse Yourself In Serenity


Elaborately custom appointed, this Mediterranean masterpiece located in Mizner Country Club is perfectly set amid luxuriant tropical greenery capturing expansive views across the fairway. A stately circular drive introduces the villa which opens onto a spectacular resort-style outdoor entertainment area hosting memorable social gatherings. The sumptuous heated pool is beautifully designed with a raised spa and a dolphin design embellishing the bottom. Serving the poolside lanai, a tiled summer kitchen with dual grills, refrigerator, sink, and tumbled marble bar opens by a charming lighted tiki hut alongside an enchanting rock waterfall.

Replete with exquisite moldings, faux painting, and marble inlays are among a wealth of custom details showcased throughout this magnificent residence creating an impressive yet warmly welcoming ambiance. Five bedrooms, 5½ baths, and a 3-car garage are included in 6,100+/- total square feet at Mizner Country Club, Delray Beach, Florida 33446.

Luxury Resort Portfolio
“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

____________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

The Oaks | Opulent Santa Barbara Tradition

The Oaks at Boca Raton
17614 Grand Este Way | Boca Raton, Florida

Offered at $2,299,000 US
MLS Number R3016713

Residence: Designer decorated and furnished, this exquisite Donatella villa at The Oaks at Boca Raton is a crowning achievement by acclaimed Charlse-Watt, blending breathtaking appointments and lavish luxuries. Smart-house technologies with AMX touch-pads control all systems including security, climate, lighting, surround-sound audio, and televisions. Mosaic-inlaid travertine marble floors, elaborate moldings, and hurricane-impact glass are also featured. Five bedrooms, 6 full and 2 half baths, plus a 4-car garage are included in 7,860± total square feet at The Oaks at Boca Raton.

Luxury Resort Portfolio
“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

____________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

July 2009 Pending Home Sales Rise To A Two-Year High

Is it possible that after a long, arduous and punishing real estate slump…the worst decline in home values in recent history… we are starting to see positive indicators that we might very soon be out of the woods? The recent housing market forever known as the catalyst that lead the US into the “Great Recession” has finally began experiencing a change in momentum…and for the better. Recent indicators show that the housing market is rebounding and faster than expected!

Three major factors have positively influenced the current rebound:

Housing Affordability | Home prices are still 30 percent below the mid-2006 peak. Buyers are taking advantage of the current market prompting would be Buyers to get off the sidelines and begin purchasing before prices begin to climb once again. According to Lawrence Yun, NAR (National Association of Realtors) chief economist, “Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family’s monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970. As long as home buyers stay within their budget, mortgage payments will be very manageable.”

First Time Buyer Credit | Housing affordability and the approaching deadline of November 30, 2009 to qualify for the First Time Home Buyer’s Tax Credit of $8,000 have increased sales activity. Home sales rose in July to the highest level in well over two years. NAR estimates that 1.8 Million to 2 Million first-time Buyers will take advantage of the stimulus credit.

Lower Interest Rates | Mortgage rates for 30-year home loans increased slightly this week, but still remain close to the record lows we reached over the spring.

Contract activity for pending home sales has increased for six consecutive months. According to the National Association of Realtors this is a pattern not seen in the history of the index since it began in 2001. The Pending Home Sale Index, a progressive study of contracts that were signed in July indicate an increase nationally in sales contracts of existing homes of 3.2 percent to 97.6. Showing and overall increase of 12 percent higher than July 2008.

In the Southern region of the country, pending home sales activity increased 3.1 percent to 103.8 in July, an increase of 12 percent from July 2008. The Western regions of the US experienced the largest gains with 12.1 percent to 112.5, that being a 20.0 percent increase from one year ago. Both the Northeast and the Midwest had downturns; the Northeast fell 3.0 percent to 78.8 in July, however their index is still higher than July 2008. The Midwest also slipped 2.0 percent to 88.1, but with an increase of well over 8.1 percent from a year ago.

With all this positive news on the horizon, can a recovery be imminent? Anyone who follows the real estate market can see that the market is still not back to normal…but was it ever normal with astronomical yearly increases in home values? The party had to end at some point.

The recent slump has erased $4 Trillion in homeowners’ equity. Thousands of people just simply walked away from their homes because they were worth far less than what they paid for them. Resorting to options once unthinkable for a Seller to consider; Short Sales, Foreclosures and even worse Bankruptcy. The Buyers did not fare any better, feeling they were pushed out of the market because of the credit crunch, not qualifying for lender’s new stringent lending policies. Making the speculation of attaining the “Dream Home” a thought of the past.

The last couple of years have really battered both the Buyers and Sellers. For a while either side failed to accept the current market. Not everyone was in Foreclosure or in dire need of selling because they were going broke. Nor was your home worth what it was once valued at it’s peak. Not all the upgrades, built-ins and bells & whistles in the world you added to your home after you purchased it…made it immune to falling home values. Finally it seems both sides are on the same page and understand the current market and comprehend VALUE!!! Yes! Value…appreciate it when they see it and understand when it’s just not there!

Here are the simple facts that will get us underway to a real recovery;
The faster that home prices begin to stabilize, the sooner that Buyers feel confident and financially secure on making home purchases, and the quicker lenders and the credit markets start to extend credit responsibly once again. We can stop the demise of the American Dream of home ownership and right the wrongs of the past.

Luxury Resort Portfolio
“The Definitive Source For Luxury Real Estate In South Florida”

Main | 800.644.5616
Fax | 800.644.0059

Philip Lyle Smith | 561.445.2282
Carla Ferreira-Smith | 561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

A Transaction Brokerage Team Representing Both Buyers And Sellers

____________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.
The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

Long Lake Estates | Lakefront Moorish Masterpiece

Long Lake Estates
8465 Twin Lake Drive | Boca Raton, FL

.

Offered at $5,295,0000 US
MLS# R3017003

Residence: Superbly scaled and elegantly detailed, this stately Long Lake Estates lakefront villa offers 7 Bedrooms, 8 full and 3 half Baths, and a 6-bay Garage. Old World appointments include Turkish marble floors, coffered ceilings, stone columned archways, and elaborate moldings. Large windows with hurricane-impact glass and a back-up power generator are featured throughout. Grandly scaled for indoor/outdoor entertaining, this sprawling Long Lake Estates 14,000+/- square-foot home lends an inviting atmosphere with a subtle palette and charming Moorish-inspired details.

The Smiths- Luxury Resort Portfolio
A Transaction Brokerage Team Representing Both Buyers And Sellers

561.445.2282
561.445.2299

or email us at TheSmiths@LuxuryResortPortfolio.com

_________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.

Palm Beach County Home Ownership Within Reach

Most families in Palm Beach County, Treasure Coast now find home ownership within reach

Source: PalmBeachPost.com
By: JEFF OSTROWSKI
Posted: May 18, 2009

WEST PALM BEACH — Plunging home prices and stable incomes have made homes in Palm Beach County and the Treasure Coast enticingly affordable to most families, the National Association of Home Builders said Monday.

In Palm Beach County, nearly two-thirds of homes sold in the first quarter were in reach of a typical family, according to the NAHB/Wells Fargo Housing Opportunity Index. And in the Treasure Coast, more than four-fifths of homes were affordable for a median-income family.

In Palm Beach County, 65.7 percent of new and existing homes sold in the county were affordable to a family making the county’s median income of $67,600, the study says. That’s up from 53.5 percent in the fourth quarter. Affordability hit a low of 28.8 percent in 2006.

In the Treasure Coast, the housing affordability index soared to its highest level in 15 years, the index says. Some 81.4 percent of homes sold in the first quarter were in reach of a family making the area’s median family income of $59,600.

Surprisingly, incomes changed little from 2008 to 2009, according to the index. Despite rising unemployment rates and a weakening economy, the region’s estimated median family income held steady. Income rose 2.4 percent in Palm Beach County from 2008 and fell 0.3 percent in the Treasure Coast.

The national housing market saw a similar trend, as affordability rose to its highest point in the 18-year history of the index. A family earning the U.S. median income of about $64,000 could afford around 73 percent of all the homes sold in the first quarter, said David Crowe, NAHB’s chief economist.

Crowe has forecast that the housing market will begin picking up toward the end of this year and turn around by 2011.

Builders, however, still face challenges getting loans from banks to finance new construction projects, while many borrowers must comply with more stringent standards that often require them to come up with more money for a down payment.

______________________________________

Preview All of Our Listed Estates
(Click Below)

The Smiths- Luxury Resort Portfolio
A Transaction Brokerage Team
Representing Both Buyers And Sellers
561.445.2282
561.445.2299

TheSmiths@luxuryresortportfolio.com

_________________________________________

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale. All information is derived from the Palm Beach County Property Appraisers website and the MLS.

The information herein is believed to be accurate but not guaranteed and may be subject to errors, omissions and changes without notice. This is not to be construed as a solicitation of property presently listed for sale.

All information is derived from the Palm Beach County Property Appraisers website and the MLS.