Waterfront Properties | Real Estate Blog - Market Updates

Riviera Beach’s Marina District to Undergo Renovations

The 10-block long Marina District in Riviera Beach that stretches from Blue Heron Boulevard to the Port of Palm Beach will undergo a major redevelopment over the next few years. There is a lot of talk that it will increase market value, with the goal to revitalize the beautiful waterfront area and make it another great area for Singer Island residents and guests to go and enjoy all that South Florida has to offer.

Included in the redevelopment is the addition of 150 new boat slips as well as a re-construction of the Marina, new restaurants, hotel, retail, and office space, and new housing. Bicentennial Park and Newcomb Hall will also undergo reconstruction.

Renovations have already started in the marina and everything is expected to be completed in phases…

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More Good News in the World of Florida Real Estate!

Catching a lot of attention this week in the real estate world, are the results we are seeing in “list-to-close price gaps.” This price gap is the difference between the price of a listed home and the price you want to pay for it. According to an article in MainStreet, the difference between the seller’s asking price and the final sale price is diminishing. This means that sellers are getting offers and eventually sales near their original asking price. According to the study by MainStreet, the average home in America sold for 98.3% of the asking price in December of 2013, a nice increase from the 97.1% in January of 2011. 

There are different ways you can look at this news. Some may think that it is only good news for the seller because they are…

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WATERFONT PROPERTIES and CLUB COMMUNITIES attends 2013 LUXURY REAL ESTATE INTERNATIONAL SYMPOSIUM Valencia, Spain

Rob Thomson, Managing Partner, of Waterfront Properties and Club Communities attended the 2013 Luxury Real Estate International Symposium held in Valencia, Spain this year.  Luxury Real Estate (LRE) is one of the world’s leading international networks of real estate professionals. Waterfront Properties is one of the organization's longstanding and respected members.  This symposium welcomes a large contingent of prominent luxury real estate brokerage firms from across the globe, including North America, South America, Europe, and the Far East.

Connecting at this conference allows Rob and his team at Waterfront Properties, to look towards the future and provide insights for successful relationships with clients and colleagues.  Speakers and…

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The Housing Market in South Florida is Bouncing Back!

News of the real estate market in south Florida making a come back has been making headlines. According to the recent home price index released by Standard & Poor (S&P) in January of 2012, the prices of homes in Palm Beach, Broward and Miami-Dade Counties have risen considerably. Since October of 2011, the home prices have risen 0.8 percent and a whopping 9.9 percent from the year before. October was the 11th consecutive month that home prices have grown in these three counties on an annual basis, according to the Sun Sentinel.

The chairman of the S&P price index, David M. Blitzer, stated, “Prices are rising, as are both new and existing home sales.” He also made the comment that the “housing market is clearly recovering.” His enthusiasm and the positive…

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SOCIAL SECURITY DEADLINE… MARCH 1, 2013

Uncle Sam wants the over 5 million households to remember if you are still getting Social Security checks by means of paper, you have until March 1, 2013 to switch to electronic delivery.  The Treasury Department is phasing out paper check payments and requiring federal benefit recipients to get their money electronically.  You have the choice to switch to direct deposit or the U.S. government’s Master Card debit card.  The modification is not optional.  All new Social Security recipients since 2011 have been required to use the electronic system.  Remaining Social Security recipients must choose one of two options by March 1.  If this applies to you, here is how to sign up:

DIRECT DEPOSIT:

• - Go to www.godirect.org. The Federal Reserve and the…

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FISCAL CLIFF DEAL…WHAT DOES IT MEAN FOR YOU and YOUR FAMILY

The House approved a Senate bill and our country has avoided the dreaded “fiscal cliff”.  As anticipated the vote, held Tuesday evening, fell along partisan lines, but how does this affect you or your family in 2013?  

The following items are key concerns to most Americans:

-  Income taxes for Americans earning less than $400,000 (joint filers earning less than $450,000) will NOT go up. “Bush-era” tax cuts are staying. 

-  Payroll Tax for Social Security is INCREASING back 6.2% from 4.2%. For every $30,000 earned anticipate taking home $50 less per month (approximately $600 per year).

-  Unemployment has been EXTENDED for a year. 

-  Child Tax Credit has been EXTENDED.  

-  Research and Development Tax Credit EXTENDED.

-  Tuition Tax…

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THE VERY BEST BROKERS & AGENTS FROM ACROSS THE GLOBE… MAYFAIR INTERNATIONAL REALTY

It is undisputed in the luxury realty market if one is looking for uncompromising service for discriminating clients - membership within Mayfair International Realty is advantageous!  Waterfront Properties and Club Communities has been the exclusive member of this network that redefines international real estate marketing for their discerning clients for many years.

Mayfair International Realty was founded in 1995 as a real estate service for London clients seeking country homes and estate agents seeking representation in London.  Over the years, the company has transitioned into a worldwide organization representing 125 real estate brokerages and 350 offices.  Their unique approach to marketing includes Country Club UK.  This is a unique concierge…

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REDUCED INVENTORY…IMPROVED BUYER DEMAND… EIGHTH CONSECUTIVE MONTH OF GAINS

CoreLogic (NYSE: CLGX) a leading provider of information, business services and analytics released its October 2012 report comparing it to October 2011.  It noted home prices nationwide, including distressed sales, increased on a year over year basis by 6.3 percent.  This change signifies the biggest increase since June of 2006.  It is also the eighth consecutive increase in home prices nationally on a year-by-year basis. www.corelogic.com

Anand Nallathambi, President and CEO of CoreLogic, stated, “We are seeing an ongoing strengthening of the residential housing market. Reduced inventories and improving buyer demand are contributing to stability and growth in home prices which is essential to the long term health of the housing market and the…

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WARREN BUFFET predicted it… HOUSING RECOVERY FIRMLY TAKING ROOT!

Last year Warren Buffet predicted, we will come back big time on employment when residential construction comes back.” According to the H.U.D. and U.S. Census Bureau there was a 5.7% increase in the number of newly built single-family homes in the United States.  This is the fastest pace since April of 2010, when first time homebuyers hurried to take advantage first time homebuyer tax credit opportunities.

Hovnanian CEO, Ara Hovnanian told NBC, “We are undoubtedly on the recovery route.  It is not a question of are we beginning it.  I’d say it began at the beginning of the year and that’s not just for Hovnanian, that’s for the entire industry.”  Hovnanian noted net sales for the ten public homebuilders have increased 30% year over year.  Barry…

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SOUTH FLORIDA’S HOME VALUES UP 8% SURPASSING NATIONAL AVERAGE

South Florida home values were up nearly 8% in the third quarter of the year from the same time in 2011!  They are expected to outperform the national price hikes through 2013 according to the online real estate firm Zillow (www.zillow.com) . Three counties in Florida (Palm Beach, Broward, and Miami-Dade) are forecasted to experience a 3.8 percent rise in value over the next year compared to a national increase of 1.7 percent, as reported by Zillow on October 23, 2012.  

Zillow is a Seattle base real estate analysis firm which released its third quarter home value report which included South Florida.

Any inquiries you may have about the current state of the real estate market in the Loxahatchee Riverfront, Jupiter Island, Abacoa, or any of the…

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