Category Archives: Golf Communities

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"

Page 

South Florida Market Update

The South Florida Real Estate boom is just a memory…as one of the nation’s hardest hit real estate areas, South Florida is witnessing properties linger for vast periods of time on the market. What used to be only a little over a couple of months on the market, has turned into quite often double digit numbers of months and even years to sell a property.

According to an article published in Sunday’s Sun-Sentinel, 1 in every 10 homes have been on the market for more than one year, and by their estimates, that results in 9,828 homes. At least 1,058 of those properties have been on the market more than 2 consecutive years! However, industry experts claim that even those figures are quite conservative estimates, because the numbers do not reflect properties that were pulled off the market and put back on when Sellers switched agents, made home improvements, or let their listing expire and entered it as a new listing to avoid appearing as stale inventory and to wipe clean the days on market.

Agents have noticed over the past couple of years that sellers are “overly optimistic” when they initially list their home thinking that the market has been slightly unchanged since the bygone days of the boom. They have a “hard time accepting or adjusting their mind to the new value of their property” and are reluctant to adjust their list prices in time with the current market. Resulting in always being “behind the eight ball” and languishing on the market for way too long.

In National news, home prices posted a record 15.3% steep decline. The S&P/Case Shiller Home Price Index has fallen for 21 months straight, based on a twenty city index that has been tracking data for 19 years. What is more alarming, recent drops have been particularly steep. Home prices plunged in areas like Miami (South Florida), seeing 26.7% drops from one year ago, and an additional loss of 4.1% in property values in April 2008.

Most sellers claim they will “ride it out” and hold onto the property for a couple of years until the market recovers… However, what most sellers don’t realize is that the real estate market does not change as quickly as the financial markets. Based on our recent fledgling economy, the mortgage crisis, the astronomical amount of homes facing foreclosure, the war, and upcoming presidential elections… This market is not turning around anytime soon. Most people forget that in the 1970’s it took the real estate market more than 14 years to rebound.

Seasoned agents claim it will take a few variables to start changing the market; home prices have to become affordable once again, inventory has to decrease, and the foreclosure mess has to be resolved.

The plummeting prices are causing a whole other problem for homeowners…NO HOME EQUITY! As home prices are continuing to fall, homeowners are left with no equity in their homes to tap for emergency purposes or are having their HELOC’s (Home Equity Line of Credit) frozen by their lenders. As listing agents we hear quite often from our Sellers, “We need X-Amount of dollars to walk away from this house to be even,”… Unfortunately, what Sellers fail to realize is that “what they need financially and what a Buyer is willing to pay these days for their home is two completely different scenarios”. The result is often leaving homeowners underwater and owing mortgages than are more than the home is worth.

Philip and I, as agents ourselves see these exact problems affecting our clientelle. Unfortunately, we do not create the market, we as real estate professionals interpret the market and facilitate transactions. We have noticed that once both the Buyers and Sellers are willing to buy/sell a property for today’s current market value…a deal can be achieved! A real estate agent is quoted in Sunday’s piece; “You’ve got to face the market…You have to give it what it wants”. It’s all numbers people! It’s ALL NUMBERS!

Please visit our latest addition:
The Mizner Country Club – Real Estate News
click on this link: https://MiznerCountryClub-RealEstateNews.blogspot.com

Note: If you are currently subscribed to our Luxury Resort Portfolio Blog you are NOT subscribed to the Mizner Country Club – Real Estate News Blog. Please click on the link today and subscribe to receive all the latest updates of real estate transactions happening at Mizner Country Club. Thank you for all your continued encouragement and support!!!

-Philip and Carla Smith

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.

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.

Two Key Factors To Selling Your Home

We hope everyone had a wonderful Memorial Day Weekend with family and friends. Philip and I enjoyed having “one” day off from showing property (not by our choice). Never the less, a little well deserved “R & R” never hurts anyone and spending time with loved ones is always uplifting.

Showings have progressively slowed down since we are coming upon the dreaded summer months. However, we have noticed that real Buyers are out there in the market place, but as suspected, they are all out on a “Feeding Frenzy”. Today’s Buyers are looking for two main factors when making their purchasing decision: “Price” and “Appearance”.

  • Price: Price is #1, if not EVERYTHING!!! Buyers are savvy to the current state of the market, informed on what has sold in the area, and what things are really worth these days. Buyers realize it is absolutely a “Buyers Market” and come to showings with all this documentation in hand. People, I am not kidding you, Buyers have repeatedly thrust in our faces articles from local and national news sources to prove their argument that everyone in Florida who has their house on the market lives in “La La Land”. Last time I checked… our real estate licenses did not cover selling property in any such place… is that even in Florida??? But according to today’s Buyers, that’s exactly where all currently listed properties with unrealistic “List Prices” are located…”La La Land”.
  • Appearance: In today’s market, how your home presents itself is a major factor to potential Buyers. I’m sorry to say it folks, but its a serious “Beauty Contest” out there. With an increase in inventory and the abundance of competition with so many similar homes/models available, your home MUST stand out to make a lasting impression on the “deal seeking” Buyers. They are looking for properties that are not only the greatest financial deal, but best looking with the least amount to “undo” in the home. I know we all get attached to our own “personal style”, and think everyone is going to “love” what we’ve done. Sometimes we get caught up on how much we spent in upgrades based on our own personal taste… but the truth is “the more personalized your home is, the longer you can anticipate it being on the market”. Buyers react the most favorably to listings that are neutral in palette, with clean/well organized spaces, and if your residence happens to look like the sunny “Florida” vacation home they are dreaming of …well then you are one of the lucky ones… you have an advantage.

Seems simple enough…right? Sometimes the best answer is the most obvious one. We know that “Location, Location, Location” is the most important factor in real estate. Well, if the potential Buyer has decided on Mizner Country Club as their place for their future home… there’s your location factor! The good thing is that we all have that one key element going for us, and if you add “Price” and “Appearance” into the formula… There’s your recipe for getting one step closer to having your property sold!

These days Buyer’s are looking to make a deal and feel like they’ve made a “wise decision”. Volatile factors in the economy and real estate market today show that home prices continue to decline, with no foreseen end in sight. So our best advice is… “The offer you receive today, is going to be the best offer you’ll get…until who knows when???

Check back on June 1st for our latest article titled “May 2008 – Year To Date Sales”.

Please View Our Website: www.luxuryresortportfolio.com and see why we are “The Definitive Source for Luxury Real Estate In South Florida”

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.

Page