Monday, August 3, 2020 / by Jordana Tobel
A bad time to sell? Well, no. A bad decision to buy? Absolutely not. What's REALLY happening in the South Florida real estate market?
To those outside the industry, it may feel different but there are facts and circumstances in today's world that simply make this market unlike any other. Those of us who were around for the 2008 Recession may have some moments that feel like deja vu, but the truth is that this is nothing like the last recession.
Let's dispel the top three myths:
MYTH #1. It's a bad time to sell a home.
Yes, we are in a pandemic and unemployment is an issue, however despite that fact, there are many buyers frantically looking for a place to call home. At the same time, many homeowners are choosing not to sell and thus new home listings plunged 14% in early July compared to last year at the same time. Total inventory is also down 32% year over year. That means the current buyer demand is higher than the seller supply.
If you are considering selling, now is ...
Friday, May 24, 2019 / by Jordana Tobel
In an area that used to be full of orange groves, Palm Beach County's newest city is booming as the place where young families are settling. Since it became a city in 2016, the city has grown by absorbing another 200 acres (bringing the total size to 4,000 acres) with a plan for 4,500 homes.
The city features shopping centers, a hospital, resort style amenities, a calendar of community events and more. At the heart of the city will be a vibrant Town Center, a shopping community where residents can meet, dine, shop and see live music.
Westlake got its name in part from Weston, the western Broward suburb of upscale, gated neighborhoods that also grew from one developer and a master plan. Minto Communities purchased the land in 2013 for 51 million and created the city from scratch. This is the same developer behind other planned communities such as Tradition in Port St Lucie.
The second part of its name is from its proximity to Lake Okeechobee, as the city is just 6 m ...
Friday, May 17, 2019 / by Jordana Tobel
Florida's housing market reported higher median prices and rising inventory during the first quarter of 2019, according to the latest housing data released by Florida Realtors®. Rising home prices means buying today rather than waiting will likely save you money.
"Continuing a trend that we've been seeing for quite a while, median sales prices for both existing single-family homes and for condo-townhouse properties rose in Florida during the first three months of 2019," says 2019 Florida Realtors President Eric Sain, "The state's population continues to increase, our jobs outlook is strong and the economy is growing."
In fact, Florida continues to be ranked as the second-best state in the U.S. to do business, according to the 2019 survey of CEOs from Chief Executive magazine.
Big earners in high-tax states like New York, New Jersey and Illinois hit hard by a new federal tax law are flocking to low-tax states like Florida, according to the Wall Street Journal.
"I've bee ...