Just how cheaply can you get a weekend Palm Beach County condo? After all, not everybody is in the market for a multimillion-dollar residence, or is ready to spend $1,000 a month on condo fees. With this depressed real estate market, what kind of deals are out there now for the average wage earner?

Many buyers looking for that perfect Delray Beach real estate for less than $200,000 can now get something pretty reasonable, that’s on or near the water. Whether you count that as value may depend on a lot of things. But these are prices not seen in this locale since well before the bubble.

Some of the best south Florida condo bargains are to be found in the southeastern crescent, from Miami to West Palm Beach. That’s where the torrent of new homes flooding onto the market has washed all prices downstream. In West Palm Beach, if you look hard, you can find new, upscale one-bedroom condos for less than $200,000 if you look hard. A few years ago, when they were being built, the same units were selling for nearly twice that.

Looking for a home in Boca Raton FL? Visit the Boca Raton Information Guide, then call Realtor® Caesar Parisi when you are ready to buy your dream property. Read the rest of this entry

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The Florida Association of Realtors is reporting that a total of 11,200 existing single-family homes changed hands in April. This represents a 20 percent increase over the previous month when 9,330 homes sold. The group also reports that existing condo sales statewide rose 21.6 percent, with 3,900 units sold in April compared with 3,207 condos in March. Surely, Palm Beach condo sales have been included in the statistical averaging.

Of interest is also that he median price for existing condos increased slightly as well during the one-month period. The median price of an existing condo in April was $179,200, up 1.6 percent from March’s figure of $176,300.

Real estate agents generally concur that it’s encouraging that they are working through inventory. In many locales their area is thriving in terms of business diversity and job opportunities relating to bio-tech and research industries.

The environment for buyers couldn’t be better in Palm Beach real estate. Florida Mortgage rates are still at historic lows and Congress is working on legislation that will boost the recovery of the housing sector.

Real estate agent Caesar Parisi stands ready with effective advice on buying or selling a Boca Raton Home. Read the rest of this entry

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The go-go era of Palm Beach condo construction may not be seen again for a lifetime, but the downturn in the housing market is not hurting remodelers the way it has stung builders and real estate agents.

Firms specializing in remodeling projects tell us that many of their clients are now able to get into waterfront homes because of the downturn in the market. After selling their primary residence they go ahead and put their leftover money into the new digs.

Generally, a typical permitting departments doesn’t tabulate a category like Boca Raton condo remodeling applications the same way or include the same items. Within Florida real estate, one county may include new garage doors as a renovation while another may not. But across the state, one thing is certain, home improvement business is up.

Looking for the perfect Boca Raton Luxury Real Estate home? Realtor® Caesar Parisi is ready to help you buy your dream property. Read the rest of this entry

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If you’re putting your south Florida home on the market anytime soon, you may want to rethink those ideas you might have on making a significant expenditure on remodeling. During the housing boom, ambitious projects could recoup as much as 90 cents on the dollar. Not today.

The resale value of Palm Beach condo improvements in general is sliding, according to experts. In a departure from recent trends, homeowners are getting the best payback from relatively mundane improvements, such as sprucing up the exterior of their house or putting in new windows.

The current Boca Raton real estate market has made remodeling much trickier. When house prices were climbing ever higher, buyers knew they could spend big bucks to expand their homes and still make a profit when it came time to sell. But today, a buyer who spends unwisely on remodeling may be simply digging a deeper hole when it comes time to move. Read the rest of this entry

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Listening to desperate South Florida homeowners, members of Congress are promoting legislation to try to stem the tide of home foreclosures and prevent further erosion of property values. The House is considering a bill week that would encourage lenders to refinance troubled home mortgages on easier terms. Backed by the Federal Housing Administration, the idea is to stabilize the Boca Raton real estate market and prevent housing prices from plummeting because of a flood of Florida foreclosures.

Congress has made housing relief a priority this year, though the House and the Senate so far disagree on how to provide it. The Senate recently passed a bill that would provide $25 billion of tax breaks over three years to home builders. It also calls for a $7,000 tax credit for those who buy a foreclosed property. And it would provide $4 billion to communities to buy and repair abandoned homes.

However, critics of the legislation argue that it favors businesses over borrowers and would not prevent Foreclosures. The House Financial Services Committee, which includes six Florida members, approved a very different bill last week to try to help homeowners fend off foreclosure.

Visiting the Boca Raton FL community? Contact Realtor® Caesar Parisi for information on buying or selling a home or condo in Boca Raton Waterfront Real Estate. Read the rest of this entry

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It’s of no surprise to us all that the combined total of Florida vacation homes and Boca Raton investment home sales declined with the overall market in 2007. But, sales of these homes and condos still accounted for 33 percent of all existing and new home sales. This is close to historic norms, according to the National Association of Realtors®.

Palm Beach County vacation homes are discretionary purchases and there is a natural tendency to pull back from big-ticket items in periods of uncertainty. But, lifestyle factors and strong demographics remain positive for the vacation home market. Plus, investment considerations are secondary for Florida vacation home buyers, so there is almost always underlying demand.

Nationwide, the median price of a vacation home was $195,000 in 2007, down 2.5 percent from $200,000 in 2006. The typical investment property cost $150,000 last year, unchanged from 2006.

Fifty-nine percent of vacation homes purchased in 2007 were detached single-family homes, 29 percent condos, 7 percent townhouses or rowhouses, and 5 percent other. In 2006, single family homes accounted for 67 percent of vacation-home sales, while condos were 21 percent.

Real estate agent Caesar Parisi stands ready with effective advice on buying or selling a Boca Raton Country Club Real Estate.

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Investors looking to pick up properties at 35 to 50 percent discounts off previous asking prices need to look no further than parcels within the Miami real estate market. Statistics show that Miami-Dade has the country’s largest inventory of unsold, unoccupied condo projects, with 25,000 sitting for sale. That’s a five year supply at current purchase rates. Plus there are another 19,000 units at some stage of approval or construction.

Unfortunately, many condo projects are tied up in litigation, which can complicate the ability of owners or developers to close deals. Plus financing is much harder to negotiate. Most banks have lists of local projects where they won’t lend under any circumstances. Private mortgage insurers have left the Miami-Dade mortgage market, citing the inability to build profitable portfolios..

Cash is king when buying a home or Palm Beach condo unit. High leverage loans are mostly unavailable. So, investors with cash can acquire units at half the previous price.

A perfect waterfront community, The Addison Condo offers 170 fabulous units amidst the two towering condominiums that are simply sensational. Caesar Parisi is available to help you be an informed home buyer or home seller in today’s changing Boca Raton real estate market. Read the rest of this entry

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