Category Archives: boca raton

Boca Raton and Delray Beach Luxury Real Estate Listings and Home Sales

If you are interested in previewing any of the prominent Boca Raton or Delray Beach luxury real estate listing comprising our unprecedented Palm Beach County Luxury Resort Portfolio, receive additional information for any listed property in South Florida or gain maximum Global Marketing Exposure for your residence… Luxury Resort Portfolio would welcome the opportunity to be of service to you.

It is with great pride that we
"Invite You To Experience Our Expertise"

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Stone Creek Ranch | Featured Listing





Stone Creek Ranch
Delray Beach, Florida | 33446
$9,450,000 USD

Contact Our Firm For Details On This Magnificent Estate 



Developed by Kenco Communities, the magnificent Stone Creek Ranch homes for sale in Delray Beach are nestled amid 187 acres of picturesque verdant vistas, striking lush landscapes and expansive shimmering lakes. Stone Creek Ranch is the ideal setting for what will ultimately be 37 magnificent custom built estates. 

The fortuitous homeowners that reside in Stone Creek Ranch, which presently include a register of homeowners from world acclaimed Professional Athletes and Owners of Professional Sports Teams to Global Entrepreneurs and Fortune 500 Corporate CEO’s, luxuriate in custom commissioned one-of-a-kind private compounds that are perfectly set on two and a half-acre or larger opulent lake front home sites. 

French Country Estate 


Stone Creek Ranch‘s renowned team of custom builders: Charlse – Watt Estate Homes, Courchene Development, Frankel-Infinity Custom Estates, Kenco Custom Homes and Terence Cudmore Builders have created masterpiece residences from over $3 million to more than $15 million. 

Upon arriving at Stone Creek Ranch, the stately private entryway leads to a manned and guarded stone gatehouse. Proceeding through the tree-scaped drive your guests are embraced by the community’s signature landmark, a dramatic, triple-arched stone bridge. Scenic walking and biking paths that are three miles long surround the Stone Creek Ranch real estate providing spectacular water views.



Stone Creek Ranch real estate is one of the Gold Coast of South Florida’s grandest and most exclusive gated estate enclaves providing residents with privacy and a taste of the privileged Palm Beach lifestyle. Neighboring some of the preeminent guard gated communities of Boca Raton luxury real estate, the exclusive estate enclave is a few minutes distance from the elite Boca Raton Country Club homes of St. Andrews Country Club, Royal Palm Yacht & Country Club, Addison Reserve, Woodfield Country Club and Mizner Country Club as well as the exclusive gated estate enclaves of Le Lac, Long Lake Estates, The Sanctuary and The Oaks at Boca Raton.

We Invite You To Experience Our Expertise And Contact Us If You 

Require Additional Boca Raton Luxury Real Estate Advice 


Please accept this invitation to explore Luxury Resort Portfolio and discover the myriad of Boca Raton luxury real estate opportunities available on this sunny, scenic and incomparable slice of South Florida’s Gold Coast. From vastly sought after luxury real estate on the green in an elite Boca Raton country club home, or a magnificent South Florida oceanfront estate along the Palm Beach coastline, there’s something for every taste and lifestyle in South Florida.
Please contact Luxury Resort Portfolio for more information and let their Boca Raton luxury real estate specialists know how they can be of further assistance to you.

The Smiths are enthusiastic and profoundly knowledgeable of the exclusive South Florida communities they serve, trusted for the advice and guidance they offer, and respected for their exceptional ability to maximize the profit potential of properties they represent.
Luxury Resort Portfolio has earned a roster of achievements that include an extraordinary quantity of record-breaking transactions for their clients in the elite Delray Beach Waterfront Intracoastal Real Estate communities of Seagate and Delray Isles, Boca Raton country club homes of Mizner Country Club, St. Andrews Country Club, Woodfield Country Club, Addison Reserve Country Club and the Royal Palm Yacht & Country Club as well as in the Boca Raton exclusive gated estate enclaves of The Oaks at Boca Raton, Long Lake Estates, Stone Creek Ranch, Le Lac and the Sanctuary.

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. 

Main: 800-644-5616 
Fax: 800-644-0059
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.

Is There Good News on the Horizon?

Sales of existing homes increased in South Florida last month as buyers responded to deep price cuts.

According to the Florida Association of Realtors press release on Monday, Palm Beach County had 652 sales in July, that number is up 8 percent from 605 sales a year ago. The median price of home in Palm Beach County is currently $291,300 falling 22 percent from $372,200 a year ago.

Real estate agents say more prospective buyers are showing interest as sellers become realistic with asking prices. However, analysts expect more price declines through the end of 2008 and into 2009.

Housing experts caution that the South Florida housing market won’t begin to rebound until the double-digit price declines begin to fade away and ultimately home prices start increasing incrementally as sales are.

In an article posted today on MarketWatch.com, Florida’s existing home sales in 2008 have remained level compared to 2007. A total of 11,498 existing homes sold statewide last month while 11,492 homes sold in July 2007, maintaining the same level of sales activity in the year-to-year comparison, according to FAR (Florida Association of Realtors).

More than half of Florida’s metropolitan statistical areas (MSAs) reported increased sales of existing homes in July; seven MSAs also showed gains in condo sales. Realtors around the state reported increased business activity, including more telephone calls, more home showings and a rise in pending sales.

Below please find a chart indicating statistics for Florida and its 20 MSAs (Metropolitian Statistical Areas). The chart compares the volume of existing, single-family home sales and median sales prices in July 2008 to July 2007 based on Realtor transactions

 Florida Sales Report - July 2008
Single-Family, Existing Homes

Realtor Sales Median Sales Price
Statewide &
Metropolitan Statistical July July % July July %
Areas (MSAs) 2008 2007 Chge 2008 2007 Chge

STATEWIDE* (1) 11,498 11,492 - $193,600 $238,900 -19
STATEWIDE-YEAR-TO-DATE 72,347 83,598 -13 $201,000 $240,100 -16
Daytona Beach 595 575 3 $171,100 $204,600 -16
Fort Lauderdale 581 559 4 $303,600 $373,700 -19
Fort Myers-Cape Coral 768 426 80 $154,900 $246,100 -37
Fort Pierce-
Port St. Lucie 415 371 12 $159,300 $231,300 -31
Fort Walton Beach 217 257 -16 $218,200 $228,800 -5
Gainesville 205 319 -36 $187,800 $199,200 -6
Jacksonville (2) 831 1,073 -23 $180,800 $193,100 -6
Lakeland-Winter Haven 267 253 6 $138,300 $172,600 -20
Melbourne-Titusville-
Palm Bay 478 458 4 $152,600 $195,800 -22
Miami 392 505 -22 $322,700 $377,400 -14
Marco Island (3) 31 26 19 $462,500 $540,900 -14
Ocala 167 236 -29 $140,600 $166,500 -16
Orlando 1,656 1,484 12 $209,100 $258,000 -19
Panama City 111 147 -24 $204,400 $215,000 -5
Pensacola 321 427 -25 $157,300 $173,600 -9
Punta Gorda 200 185 8 $141,800 $179,600 -21
Sarasota-Bradenton 657 711 -8 $230,100 $277,700 -17
Tallahassee 218 250 -13 $205,900 $210,200 -2
Tampa-St. Petersburg-
Clearwater 2,174 2,068 5 $176,500 $215,600 -18
West Palm Beach-
Boca Raton 652 605 8 $291,300 $372,200 -22

(1) * Statewide figure includes data from the Naples Area Board of
Realtors.
(2) Data from the St. Augustine & St. Johns County Board of Realtors was
not available.
(3) Data is only from the Marco Island Association of Realtors.



For further information or if you wish to see your property featured here.
Please Contact:
The Smiths – Luxury Resort Portfolio at (561) 445-2282

Luxury Resort Portfolio
A Transaction Brokerage Representing Both Buyers And Sellers

NOTE:

Remember to visit our corporate blog at https://LuxuryResortPortfolio.blogspot.com


If you are subscribed to our corporate blog, you are NOT automatically subscribed to the Mizner Country Club – Real Estate News. They are two separate published newsletters. Please subscribe today and start receiving the latest updates in Real Estate News. Thank you again for all your support and best wishes!
Philip and Carla Smith
The Smiths – Luxury Resort Portfolio

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.

Making The Cut: 5 Signs That It’s Time To Cut Your Asking Price

Sluggish housing markets are filled with listings that are lingering on the market, prompting many home sellers to ponder a price cut

A seller’s reality check may often come to late. Usually after their listing produces very few showings or a prospective buyer is lost to a competing — and lower-priced — home just down the block.

In this very price driven market, no longer are buyers letting their emotions interfere when they decide to buy a home — they’re out there looking for deals! Most listing agents feel, “Many sellers whose homes are sitting on the market without a buyer in sight had unrealistic expectations from the start.” Most sellers don’t want to price their properties where they need to be to result in a completed sale of their home.

How can sellers tell if their homes are overpriced? Look for the following signs:

Not Enough Showings

A home is likely overpriced if it doesn’t get any showings in the first couple of weeks it’s on the market. Even more proof a price cut is needed: Buyers and /or Agents are interested enough to call the listing agent for information on the home but still aren’t scheduling showings.
Seasoned Agents feel, if a home doesn’t make a buyer’s “showing cut,” and people don’t think it’s worth the time, hassle or gas to deserve a look, it’s likely overpriced. Worse yet, if other real estate professionals fail to bring their buyers to the property because of the list price… now you have the real estate community rejecting the asking price. If you can’t get people into your home, it’s highly unlikely that it will sell.

Some Showings, But Still No Contract, No Offers

Perhaps the number of showings isn’t a problem, you have great agents (most likely… The Smiths) that have brought a number of prospective Buyers through your home, and yet there still have been no offers. If you’re getting showings but not getting a contract, that means you’re still not quite low enough in your asking price. Most likely it means, you’re close, but there’s so much competition out there. You have to be priced with along the lines of the homes that ARE SELLING. Don’t make the mistake of wanting to stick at the current List Price with the homes that are also sitting there on the market and NOT SELLING. A basic guideline that real estate professionals use is: 10 showings and no offer or two consecutive weeks with no showings, you are most likely overpriced for the current market. This is true especially in this very competitive market.

Similar Homes Are Now Selling For Less

In markets where the median price keeps falling, it’s important to regularly monitor what homes are selling for. Your Real-estate agent should provide you with up-to-date information on the market to determine whether the home is still priced correctly. When you start off at the wrong number to begin with its called “chasing the market”. Sellers have no issue with increasing their list prices when the market is going up… However, when the market starts to soften they have difficult issues with adjusting their list prices. Historical data isn’t quite so powerful anymore. You have to look at what is selling now, and what it is selling for. That’s what your property is worth today. Forget about what things sold for 3 months or even 6 months ago… Take a look at what the last sale was, and that is what the new number will be. Don’t “chase the market down,” be priced right and get your house sold.

Repeated Negative Feedback

If buyers who do walk through the home have the same negative reactions to it, that could be another red flag that the price needs to be dropped. Buyer feedback, collected from your real-estate agent, may reveal what the other houses in the same price range have different from your listed property. Listen to your listing agent, they sell homes for a living. They do this everyday and have professional knowledge of what today’s Buyers like and dislike in their home search. Sellers are thinking from an emotional point of view, they are emotionally invested in their home and sometimes can’t see the deficiencies in the property because… lets face it, “IT’S THEIR HOME!” But once you put your home on the market it no longer is your home, it is inventory on the market. Be open to the cosmetic changes or areas that might need a remodel, that might be the one thing needed to attract buyers. To address the disparity, sellers can either make the needed remodel or cut the price. Buyers are extremely fussy these days and the least they see to “un-do” in a property the better position a seller will be in. Remember that the Buyers out there do not necessarily like all that you have done in your home. Don’t become sensative when you hear the feedback. Embrace it! Fix it! Then you can Sell it! Remember…You can sell anything anywhere. If the price is right it will sell.

You’ve Cut the Price, But Not By Enough

If a price cut is in order, don’t cut by small increments. Several smaller decreases could make a seller look desperate, but a larger decrease will generate more interest. A small price reduction is nothing in the grand scheme of things. Again, a big mistake is pricing the home too high from the start, real-estate agents say. Not only could overpricing lengthen the time on the market, but it could also cause the home to sell at a greater discount in the end. That’s because prospective buyers often get the impression that there’s something wrong with stale listings or, worse yet, buyers assume the seller is desperate and willing to accept a much lower price.

The Smiths say, “Your first three weeks are critical — you’ll have your most showings with the most potential, qualified buyers, those that are out there waiting for something that matches their needs to come on the market. Don’t blow it by overpricing.”

Please Visit Our Latest Addition ans Subscribe Today:
Mizner Country Club – Real Estate News

For Information on Searching For a Property in South Florida
or Listing Your Home, Please Call:
The Smiths – Luxury Resort Portfolio at (561) 445-2282


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.

Introducing A New Feature: The “Mizner Country Club – Real Estate News”

Good Morning Luxury Resort Portfolio Readers,

In an effort to satisfy all our loyal subscribers’ requests, Luxury Resort Portfolio has recognized your recent comments and suggestions. That is why we are very proud to introduce a new feature on the Luxury Resort Portfolio Blog. We have created the “Mizner Country Club – Real Estate News” Link. A Newsletter completely devoted to providing you the “Luxury Resort Portfolio Scoop” on the Real Estate transactions happening in Mizner Country Club. This community newsletter is an added tool for all our friends, neighbors and clients to have access to the latest and most accurate real estate information on transaction activity happening within our lovely gated walls. We have compiled the information based on MLS and Palm Beach County Property Appraiser Information.

The Mizner Country Club – Real Estate News Blog will work in direct partnership with our corporate Luxury Resort Portfolio Blog. You could access the Mizner Country Club community information through a designated link on the Luxury Resort Portfolio Blog or directly at https://MiznerCountryClub-RealEstateNews.blogspot.com. If you are interested in the real estate activity at Mizner Country Club, subscribe to Mizner Country Club – Real Estate News…and receive community updates vie email automatically when new data is posted!

The Smiths – Luxury Resort Portfolio always welcomes your suggestions and input on what we could do to improve our website and blogs, so please feel free to let us know what you would like to see featured!

There have been only 8 sales in Mizner Country Club since January 2008. Properties’ final sales prices ranged from $615,000 to $3,600,000. The following is the breakdown:

Address

Sales Information

15934 Laurel Creek Drive

(San Marino)

Model: Carrington-Expanded

Original Purchase Date: 10/00

List Price: $1,249,000

Sold Price: $1,110,000

Sold Date: 01/25/2008

16252 Andalucia Lane

(Andalucia)

Model: Segovia

Original Purchase Date: 12/02

List Price: $1,790,000

Sold Price: $1,395,000

Sold Date: 02/08/2008

8584 Valhalla Drive

(San Sebastian)

Model: Monte Verdi-Expanded

Original Purchase Date: 12/05

List Price: $974,000

Sold Price: $900,000

Sold Date: 02/29/2008

8376 Del Prado Drive

(Del Prado)

Model: Madeira (Furnished Model)

Built: 11/01

List Price: $2,950,000

Sold Price: $2,800,000

Sold Date: 02/29/2008

16008 Double Eagle Trail

(Valencia)

Model: Largo Mar

Original Purchase Date: 08/01

List Price: $750,000

Sold Price: $615,000

Sold Date: 04/07/2008

8047 Laurel Ridge Court

(Encantada)

Model: Montecito-Expanded

Original Purchase Date: 12/05

List Price: $975,000

Sold Price: $900,000

Sold Date: 04/21/2008

15864 Double Eagle Trail

(Valencia)

Model: El Solano

Original Purchase Date: 06/01

List Price: $749,000

Sold Price: $650,000

Sold Date: 04/28/2008

8430 Del Prado Drive

(Del Prado)

Model: Majorca Grande

New Construction – Spec

List Price: $4,595,000

Sold Price: $3,600,000

Sold Date: 05/16/2008

There is 1 property pending in Mizner Country Club. 8681 Valhalla Drive (San Sebastian) in “Pending” status.

Mizner Country Club currently has 62 Active listings on the market. These properties are ranging in List Prices from $619,000 to $3,295,000.

Enclave

Number of Listings

Andalucia

6

Capri

0

Cordoba

4

Del Prado (Custom)

6

Encantada

14

Marbella

3

Palma

8

San Marino

6

San Sebastian

10

Valencia

5

View links of the active listings at Mizner Country Club:

Mizner Country Club – Homes Under $ 1 Million

Mizner Country Club – Homes $1 – $2 Million

Mizner Country Club – Homes Over $2 Million

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
Delray Beach, Florida

16223 Andalucia Lane
Offered at $1,725,000

(please click image to view additional photos/virtual tour)

Location: Andalucia Lane, Delray Beach, Florida. A luxurious new golf course community, Mizner Country Club captures gracious Palm Beach style centered on an 18-hole Arnold Palmer signature golf course. The award-winning Grande Clubhouse is accompanied by world-class fitness, tennis, and swimming facilities.


Property: Magnificent custom features and upgrades complement this lakefront Mediterranean estate capturing picturesque views over the lake and golf course. Hosting al fresco entertaining with an oversized lanai summer kitchen, a Chicago brick patio frames the Pebble Sheen 40-foot lap pool with hand-painted tile and waterfall spa.


Residence: This expanded Segovia villa presents meticulous detailing, from the custom exterior stonework and corbels to the Travertine Gold marble floors, elaborate ceiling treatments, and faux finishes refining the elegant interior décor. Five bedrooms, 5 full and 2 half baths, and a 3-bay garage are included in 6,480± total square feet along with myriad luxuries including the back-up generator, accordion hurricane shutters, surround-sound system, security surveillance, whole-house water filtration, and Aprilaire anti-allergen heating/cooling system. All bedrooms have custom-fitted closets and individually designed baths.


First Floor: The view-filled formal living room is dramatized by a 22-foot domed and coffered ceiling, double-height window wall, and an intricate coquina stone fireplace. An arched colonnade sets off the 2-story tray-ceilinged formal dining room. The handsome office is finished with custom built-ins and floors of Brazilian cherrywood. A view-filled bay window illuminates the dine-in gourmet kitchen offering antiqued custom cabinetry and granite counters. The family room with coffered ceiling opens to the pool through stylish French doors. Gracious elegance and luxury define the private master suite featuring tray ceilings, a view-filled bay-windowed sitting area, plantation shutters, poolside access, custom-fitted cherrywood closets and an opulent spa-style bath with Jacuzzi tub, frameless shower, granite counters, and Italian porcelain tile floor. A separate guest/staff suite, powder room, and cabana bath complete this level.


Second Floor: Highlighted by tray ceilings, this level features a dramatic loft with ironwork-embellished arches, plus three additional private bedroom suites, two with herringbone-patterned Brazilian cherrywood floors.


Inspection by appointment only.


MLS# R2808658


For further details on the “Featured Property of the Week” or if you wish to have your property prominently featured please contact:
Philip Lyle Smith (561) 445-2282
Carla Ferreira-Smith (561) 445-2299

Visit Our Website: 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.

Rental vs Purchase? What’s A Buyer Going To Do?

Hope everyone had a great weekend and enjoyed the fabulous weather that stretched all the way from the Northeast down to sunny South Florida. Temperatures were not the only thing on the rise. Philip and I have experienced a slight increase in the number of showing requests in the past 4-5 days. We are noticing a trend that people viewing property are more interested in rentals these days than purchasing a home. Almost every showing we did over the weekend was for either seasonal or yearly rentals.

People seemingly want to “test drive” the property these days before they take the plunge and purchase. With so much inventory at their disposal, and so many sellers willingly renting their listed homes, people are holding off on making a commitment on buying a home and renting with much less risk. I surveyed a few of the people this weekend by asking them “What is the main factor stopping them from purchasing a home at this time?” Overwhelmingly, they all said the same thing…”Prices continue to drop…so why buy now”?

They all want to have the South Florida experience, but most were genuinely concerned with making the investment. A few want to make sure they even like the area before they purchase their second home here, another couple we worked with wanted to be certain the community they were renting in was going to be the right fit for their family, and the rest just want the lifestyle without the financial risk. All betting that home prices will continue to decline, and that is when they will make their move.

We also see steady traffic coming from our neighbors to the north. Canadians continue to flock to Florida, predominantly into Palm Beach County. Our colleagues in the Miami/Dade area report that they are seeing an increase in European and South American Buyers/Investors in their market due to the weak dollar. Taking advantage of the currency situation, overseas buyers are mostly interested in making their purchases in America’s most “Trendy” and “Hip” cities such as Miami, New York, and Los Angeles. This year, brokers in the Hamptons claim that a majority of this season’s coveted summer rentals were booked by Europeans. Seems like the majority of these investors want only the “big-city”areas that offer them world renowned fine dining, luxury shopping, arts & culture, and an active nightlife. I’m guessing… it might be safe to assume, that it will be a while before they discover the suburbs!!!

Visit Our Website: www.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.

10 Markets Set For Steep Losses

Five of the top ten markets that are projected to see further property value losses into 2009 are in Florida… that’s disturbing news folks. According to Money Magazine this market has not bottomed out and we can expect to see further negative numbers into 2009-2010. I came across this article and wish to share it you.

The worst isn’t over for Miami, Phoenix, and hard hit areas of California, which are forecast to see big price drops in the next 12 months, according to Money Magazine.

View link: https://money.cnn.com/galleries/2008/moneymag/0805/gallery.resg_losers.moneymag/10.html

Miami, Florida
12-month forecast: -24.9%
Median home price: $329,000
One year price change: -9.8%
Five year price change: 94.8%
Prices forecast to hit bottom: April-June, 2010
Change in foreclosure rate: 370%

Fort Lauderdale, Florida
12-month forecast: -22.2%
Median home price: $309,000
One year price change: -17%
Five year price change: 56.1%
Prices forecast to hit bottom: April-June, 2010
Change in foreclosure rate: 450%

Orlando, Florida
12-month forecast: -21%
Median home price: $245,000
One year price change: -13.1%
Five year price change: 62.5%
Prices forecast to hit bottom: July-Sept., 2010
Change in foreclosure rate: 399%

Phoenix, Arizona
12-month forecast: -18.3%
Median home price: $237,000
One year price change: -15.2%
Five year price change: 60.9%
Prices forecast to hit bottom: Oct.-Dec., 2009
Change in foreclosure rate: 9%

Las Vegas, Nevada
12-month forecast: -18.3%
Median home price: $277,000
One year price change: -15.7%
Five year price change: 60.8%
Prices forecast to hit bottom: Jan.-Mar., 2010
Change in foreclosure rate: 2%

West Palm Beach, Florida
12-month forecast: -17.6%
Median home price: $305,000
One year price change: -18.7%
Five year price change: 46.1%
Prices forecast to hit bottom: Oct.-Dec., 2009
Change in foreclosure rate: 435%

Tampa, Florida
12-month forecast: -17.1%
Median home price: $200,000
One year price change: -12.8%
Five year price change: 52.1%
Prices forecast to hit bottom: Jan.-Mar., 2010
Change in foreclosure rate: 281%

Riverside, California
12-month forecast: -16.9%
Median home price: $340,000
One year price change: -26.3%
Five year price change: 49.9%
Prices forecast to hit bottom: April-June, 2009
Change in foreclosure rate: 299%

Tucson, Arizona
12-month forecast: -16.9%
Median home price: $217,000
One year price change: -7.6%
Five year price change: 54.5%
Prices forecast to hit bottom: Jan.-Mar., 2010
Change in foreclosure rate: 14%

Stockton, California
12-month forecast: -16.8%
Median home price: $341,000
One year price change: -31.9%
Five year price change: 17.8%
Prices forecast to hit bottom: April-June, 2009
Change in foreclosure rate: 379%

Visit Our Website: 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.

Activity Report: What’s Selling! What’s Pending! and Where Things Are Just Not Moving!

It’s wonderful to see that a significant number of people have subscribed to the “Luxury Resort Portfolio Blog” since its inception. Luxury Resort Portfolio prides itself on being a different type of Real Estate Team; we listen and pay attention to what our clients, neighbors and colleagues are looking for in their ideal Real Estate experience. We appreciate all the great emails we received with your insightful comments and well wishes. Thank you again for your patronage, Philip and I (“The Smiths”) will strive to provide you the real estate information that we believe everyone is seeking.

The following information is the current activity report. This includes in our surrounding area; Country Clubs, Gated Estate Enclaves, and 1+ Acre Communities with a list/sold prices of $400,000(+). We have indicated how many properties are currently listed, have sold year-to-date, and how many homes are pending in that particular community. Please note this information is current for the day it was posted and if you wish to see a current activity report or an in depth analysis for a particular community please contact us.

The communities listed below in the chart are communities designated in our area.

Community

Type

Active Listings

Y-T-D Sold

Pending

Mizner Country Club

Country Club

64

8

1

Addison Reserve

Country Club

30

11

4

St Andrews Country Club

Country Club

66

6

5

Woodfield Country Club

Country Club

93

5

6

Boca Grove Plantation

Country Club

30

5

3

Boca West

Country Club

34

4

8

Broken Sound

Country Club

69

11

8

Azura

Gated Enclave

7

0

0

The Oaks at Boca Raton

Gated Enclave

51

9

7

Saturnia Isles

Gated Enclave

45

10

0

Le Rivage

Gated Enclave

9

0

0

Long Lake Estates

Gated (1+ acre)

13

0

1

Stone Creek Ranch

Gated (2+ acre)

3

1

0

Of course, if you feel there is further information you would like to see, call us or email us. It would be our pleasure to provide you with the information you request. Let us know if there are other communities you would like to see featured in the future on our area activity report. We welcome everyone’s input and would love to adapt your suggestions into our blog. That’s how we can perfect the blog and tailor it to best suit all our loyal readers.

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.

Have You Done A Windstorm Mitigation Inspection On Your Home

Can you believe we are here again…”Hurricane Season”. According to tonights newscast it begins in June and we all are very familiar with the anxiety we all suffer until it ends.

Word is getting around about a way of cutting windstorm insurance premiums. You necessarily won’t have to change a thing, and you can save thousands of dollars.

The answer: A Windstorm Mitigation Inspection

By meeting the protection criteria of the F.W.U.A (Florida Windstorm Underwriters Association), Insurance companies will reduce your property insurance premiums accordingly. But to qualify, it’s up to you to contact your insurance carrier and request the inspection. Call your local insurance agent and they will provide you with a list of local inspectors that are approved by your insurance carrier to perform the inspection.

The requirement from state regulators to offer discounts apply to all residential windstorm policies, condo association policies however, are not. Many homeowners are not aware their homes have what it takes to receive these discounts… and surely Insurance companies are not going to go out of their way to tell you! So call tomorrow…and try to get through the season with a little less worry and a lot more money in your pocket.

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.

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