Category Archives: delray beach

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

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City Walk – Delray Beach | New Rental Listing

City Walk at Pineapple Grove
200 NE 2nd Avenue
Delray Beach, Florida 33444
 

Spacious Modern Downtown Living

2 Bedrooms | 3 Baths

2,122 Square Feet 

Available For Lease
$2,500 Monthly

Sleek and exciting condo corner unit at City Walk in Delray Beach, Florida.  Features 2 bedrooms with optional 3rd bedroom/den, 3 full baths,  granite counter-tops, stainless steel appliances, gorgeous cherry wood cabinets, and stylish hardwood floors.  Complete with impact glass.

MLS# R3128785

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 and 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.
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.

Delray Beach Officials Increasing Water, Sewage and Trash Pickup Rates

By Maria Herrera
South Florida Sun-Sentinel
Thursday, September 4, 2008

Delray Beach – It will cost more to flush a toilet in Delray Beach.

Officials gave initial approval Wednesday to increasing water, sewage and trash pickup rates.

“It’s is better to increase it a little each year than all at once,” said City Manager David Harden, who said the city has been increasing fees over the years as fuel prices and the cost of living have risen.

Water will be 5 percent more expensive with the average customer paying $5 or $6 more per month. Officials point at the higher cost of chemicals to treat water and a reduction in usage for the rate increase.

But during a City Commission workshop last month where officials considered the hike, Commissioner Fred Fetzer said he was concerned that residents would feel penalized for conserving water.

Handling sewage also got more expensive. In documents handed to commissioners, Harden said the increases are needed to pay for the cost of eliminating the discharge of treated sewage into the ocean and developing the city’s reclaimed water system.

The increases also reflect a hike by the South Central Regional Waste Water Treatment and Disposal Board.

For a customer using 10,000 gallons of water, rates will go from about $33 per month to about $35. Sewage fees will go up from $45 per month to about $51.

The city last raised fees in 2006 when it underestimated how much money it would have collected in onetime connection fees.

The fee approvals followed a tentative adoption of the city’s $147 million budget with a tax rate of $6.45 per $1,000 of assessed value. Final approval is scheduled for Sept. 16.

That means the owner of a house valued at $300,000 would see a tax bill of about $1,612. That’s about $76 less than last year.

Harden said that though the tax rate is higher than last year’s, the city is not really raising taxes because it is not taking in additional revenue.

________________________________________________________________

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.

Delray Beach To Increase Tax Rate

Delray Beach to Increase Tax Rate, but Most Homeowners Will See Smaller Bill

By DON JORDAN
Palm Beach Post
Wednesday, September 03, 2008

DELRAY BEACH — The city commission approved a tentative $147 million budget tonight that will cut taxes for most residents, but offer less money for police enforcement, park maintenance and other city services. The tax rate would jump next year from $6.14 for every $1,000 of assessed value to $6.45, the highest amount allowed under state law without requiring a super-majority vote.

The higher rate still would mean a smaller tax bill for residents with properties with a taxable value of less than $336,000. It would also leave city coffers about $150,000 emptier than last year, according to a staff estimate.

City manager David Harden asked commissioners to approve the tentative rate after promising to recommend a lower rate before the commission votes on a final budget later this month. “We have discussed reducing the millage further and we do expect we will do that,” Harden said.

City officials have struggled for months to craft a budget that adjusts for decreased property values and Amendment 1, the voter-approved measure that restricts local governments’ tax rates. The general fund, which makes up about two-thirds of the tentative budget for next year, includes $2.5 million less than this year for law enforcement, parks and cultural programs and other city services.

Commissioner Fred Fetzer has been a vocal proponent of leaving the tax rate at the current level in the spirit of Amendment 1, which was overwhelmingly approved by Florida voters. Keeping the current year’s tax rate would cost the city an estimated $2 million in revenue next year. His sentiments were echoed today by a trio of Realtors who asked the commission to honor voters’ wishes and lower the property tax rate. “The message was clear,” local Realtor Nancy Hogan said. “The residents need tax relief and the escalation in government spending must stop.”

In addition to the property tax rate, commissioners tentatively approved raising a special tax paid on properties in the downtown development authority taxing district, from 95 cents to $1 for every $1,000 of assessed value. The commission will hold a second public hearing on the budget and tax rate on Sept. 16. The city tax figures do not include taxes levied by other governing bodies, including Palm Beach County and the school district.

Who Will Pay What???

The Delray Beach City Commission tentatively approved raising the property tax rate from $6.14 to $6.45 for every $1,000 of assessed value, which would mean a tax cut for homesteaded properties worth less than $336,000. Taxpayers will also pay an additional 46 cents per $1,000 of assessed value to pay off voter-approved debts. The commission will take a final vote on the tax rate on Sept. 16.

Under the tentative rate:
– The owner of a $250,000 homesteaded property would pay about $46 less in taxes.
– The owner of a $500,000 homesteaded property would pay about $88 more in taxes.
– The owner of a $200,000 property without a homestead would pay about $12 less in taxes.

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.

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.

Mizner Country Club: Activity

Happy Fourth of July!

Welcome Back! We wish everyone a wonderful and relaxing holiday weekend. Since we would like to enjoy our day as well, here is a quick review for the week.

Mizner Country Club as of today has (62) Active Listings, (2) Pending, and (9) Total Solds for the year. One (1) new listing also came on this week. Lets Begin!

Just Sold By The Smiths



The Smiths – Luxury Resort Portfolio, this week closed on 15975 Laurel Creek Drive (Model: Carrington). We had a successful sale on this property in only 137 days! (See Below)

Just Listed By The Smiths



16372 Braeburn Ridge Trail (Model: La Serena-Expanded)



List Price: $ 1,010,000

Magnificent golf fairway estate sited on a lush landscaped oversized lot with circular drive. Two story dining and living rooms, extensive millwork, expanded VIP Suite, French doors, tranquil pool and entertaining area with raised decorative tiled spa. 4 bedrooms, 5 full and 1 half baths, 5,120 +/- total square feet. (View Below)



Price Changes

8060 Laurel Ridge Court (Model: La Serena-Expanded)

Newly priced to $1,049,000 from their original list price of $1,139,000. Majestic customized Mediterranean estate sited on an oversized golf fairway lot with large side yard and expanded pavered driveway. Fabulous open floor plan with soaring 21ft ceilings, curved stair tower, gourmet kitchen, and extended VIP Suite. 4 bedrooms, 5 full and 1 half baths, 5,120 +/- total square feet. (View Below)





16208 Mira Vista Lane (Model: Carrington)

Newly priced to $1,149,000 from their original list price of $1,351,000. Statuesque mediterranean estate commands emerald vistas across the Arnold Palmer Signature links. Manicured tropical landscaping. Circular drive. Individual His/Hers master baths with gentlemen’s steam shower. 5 bedrooms, 5 full and 1 half baths, 5,588 +/- total square feet. (View Below)





16223 Andalucia Lane (Model: Segovia-Custom)



Newly Priced at $1,725,000. Magnificently customized and upgraded mediterranean estate with picturesque lake front and golf fairway vistas. Exquisite decorative travertine marble floors, box beam ceilings with inlaid crown molding and faux paint. Accordion hurricane shutters, gas back-up generator and fireplace. 5 bedrooms, 5 full and 2 half baths, and a 3-bay garage in 6,080 +/- total square feet. (View Below)





16217 Andalucia Lane (Model: Carrington)

Priced reduced to $1,579,999 from the original listing price of $2,199,000. The home was built in 2003. (View Below)



For detailed information on any of the above properties,

or if you wish to see your property featured here. Please Contact:

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.

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