Boynton Beach Real Estate update for July 2011

Boynton Beach real estate sales for July 2011 have dropped somewhat year-over-year, but the decrease is the smallest experienced in the last three and a half years. Sales of newly constructed homes were at a record low. The median price was up slightly from June, but this was the 46th month in a row for declining prices. Boynton Beach real estate was part of the 8,820 new and resale homes that closed escrow in July. According to DataQuick, a firm that tracks national real estate trends, this was a 10.5% drop from June and a decrease of 1.1% from a year ago. The largest decrease in sales was experienced in the $500,000 and up market. Sales were down 16.3% month-to-month. The decrease in the under $500,000 market was 9.8%. One of the reasons for the higher than normal drop in Boynton Beach real estate and neighboring cities may be concern over the economy. In addition, Washington, D.C. political leaders could not find a resolution for the default on U.S. obligations. Decreases in condo sales last month were down 13.4% from June. However, the 4,251 that sold represented a 2.4% increase from the previous year. This was the highest number sold in the month of July since 2005. Sales of real estate in Boynton Beach and neighboring cities were condos that made up 48.2% of all home sales last month. A year earlier the figure was at 46.5%. New home sales were only 5.2% of all homes sold last month. This is an all time low when compared to the average over the last 10 years, which had been about 19% of monthly sales. New construction of Boynton Beach real estate has been affected by the economy as well as competition from the abundance of distressed sales. According to public records, approximately 5.5% of Boynton Beach real estate as well as real estate in neighboring cities were purchased by foreign buyers. The highest number (73%) of buyers was from Canada. Brazil buyers accounted for 3.5% and Argentina and Venezuela, which included 2.6% of the foreign buying market. The percentages were based on public property records and many foreign buyers used U.S. addresses, therefore the number may be higher. If you would like more information about Boynton Beach homes, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

Boynton Beach Home Mortgage Rates could Increase due to the U.S. Debt Downgrade

Do you own a Boynton Beach home or are you considering the purchase of one? If so, mortgage rates could increase as a result of the recent downgrade by Standard & Poor. The downgrade was not unexpected and the three major credit agencies - Standard & Poor, Moody’s Investors Service and Fitch Ratings - had warned of the downgrade if spending was not significantly cut by Congress. Although following the downgrade, prices for U.S. government debt rose in trading, the future is uncertain as Moody’s and Fitch opted to retain their highest ratings for the time being. This could have an impact on future purchases of a Boynton Beach home. The lowered credit rating for the government is similar to a lower credit rating for consumers. It signifies that the borrower is less reliable and therefore, the risk in lending is increased. The rates on mortgages are often linked to Treasury bond yields. Accordingly, should investors become nervous, this could cause Treasury bond interest rates to climb. The rates would do so to make the bonds more appealing to investors, causing consumers to experience higher rates for borrowing. Although not all types of borrowing by consumers is directly linked to the government’s credit rating, potential consequences could be felt by consumers. Due to the downgrade by S & P, which included mortgage giants, Freddie Mac and Fannie Mae, new purchasers of a Boynton Beach home using one of these two mortgage companies could experience higher mortgage rates. In addition, the variable rate mortgages as well as home equity loans could end up costing more. Adjustable rate mortgages (ARMs) are less than 5% of the today’s market for new home loans, but it is not certain how many old loans still have an ARM. There were many homeowners who refinanced their ARMs to a fixed rate mortgage as the result of lower interest rates recently. For Boynton Beach home owners who still have an ARM, a change in their interest rates would depend on what the loan was linked to - Treasury rates, federal funds or the prime rate. A benefit for Boynton Beach home mortgages that are linked to the federal rate is they are set by the Federal Reserve. They are not planning to increase rates anytime soon, so this should provide an advantage to borrowers for the time being. If you would like more information about Boynton Beach homes, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

Best Ways to Maintain your Boynton Beach Home during the Summer

Keeping your Boynton Beach home in the best shape is possible when maintenance is done on a regular basis. This will help save on energy as well as preventing more serious problems. When living in the South many maintenance issues will revolve around keeping the home from developing problems related to moisture. The prevention of mold, infestation from insects and other problems that could damage the structure of the Boynton Beach home is essential. The HVAC system can be kept in top condition by purchasing a service contract through a local contractor. The maintenance that is performed will help to ensure there are no leaks or other problems that can cause the system to perform less efficiently. In addition, the savings realized by prolonging the life of the system can be beneficial as well. The Boynton Beach home should be inspected for moisture in the crawl space, if the home has this feature. Often caused by rain water that needs to be directed away from the home, this can result in mold beginning to grow on the structure or the insulation. The ground underneath the home should not be damp since this can cause termites to set up residence. The damage they cause can be quite severe. Check to make certain water is not standing around the home after it rains. If so, a drain may need to be installed to direct this water away from the Boynton Beach home. The gutters and downspouts should be inspected for damage as well. Sometimes they will become blocked or pull away from the home. Reattaching them and replacing damaged sections will keep them flowing correctly. The roof should be inspected for damage. Missing or damaged shingles can allow water to seep into the home causing interior damage. The plumbing vents are another area of the roof that should be checked. The neoprene boots that are installed around these vents are not as durable as the roof. They typically last only about 10 years and will need replaced if they are split or cracked. There are many repairs and maintenance jobs that can be performed on the Boynton Beach home that will prevent damages that could cost much more to repair. Inspecting your home and keeping everything running smoothly will result in savings in the long run. If you would like more information about any of these areas, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

Best Ways to Save Money while Saving Energy inside your Boynton Beach Home

Saving money by saving energy in your Boynton Beach home may be easier than you think. Although many people feel the upfront cost of improvements to save energy are quite expensive, the overall savings will be impressive. There are a few ways to save on these initial costs. Many of the things that can be done to improve the energy efficiency in your Boynton Beach home are not expensive or cost nothing. What can you do? Lowering swimming pool heat pump temperatures when the pool is not in use can save money. The temperature actually does not need to be above 78 degrees when it is in use. Are you keeping the air conditioning vents and filters clean in your Boynton Beach home? This provides more energy efficiency and saves money. Using fans occasionally rather than the air conditioning is another way of saving on energy costs. In addition to the things you can do, help is available on many levels for improvements that can be made to your Boynton Beach home to help save energy. The federal government has programs that provide tax credits for improvements made to the home. A tax credit of up to 30% can be obtained for improvements such as the installation of solar water heaters and small wind turbines. Your state may be able to help. There are rebates available for those who purchase energy savings appliances. Air conditioners and refrigerators are two of the top appliances that can be purchased that are typically eligible for the rebates. Additionally, private companies are offering incentives to purchase their products. Some heating, ventilation and air conditioning manufacturers are offering rebates up to $1400 to replace old systems with newer, more energy efficient systems. Check the local utility companies that serve your Boynton Beach home. Many are also offering savings in the form of rebates and loans. The top products often covered are pool pumps and air conditioning systems. There are many private and public programs that are available in several areas to help offset the cost of upgrading from older appliances and systems to newer, more energy efficient ones. Checking around can help save money and this is very important, especially today

Boynton Beach Gated Communities

Aberdeen - This Boynton Beach gated community covers 1,700 acres and contains more than 2,900 residences, including condos, villas and houses. Avalon Estates - An adult community with homes from the mid $400,000 to the $700,000 range. Boynton Waters - A diverse number of homes built from the 1990s to the current day are contained in this Boynton Beach gated community. Homes range from $400,000 to more than $1 million. Club at Indian Lakes - One of the Boynton Beach gated communities that is pet friendly and contains single-family homes. Most are 3-bedroom, 2 ½ bath with some 3-bedroom, 3-bath courtyard homes. Equus - There are 280 estate homes located here. There are two 10-acre lakes and many equestrians choose this Boynton Beach gated community. There is an Equestrian Center offering boarding, a riding school and competition rings. Grove Isle - This community has 3-bedroom homes that were constructed in the 1980s and the asking price is in the $400,000 range. Indian Spring - A Boynton Beach gated community with homes in the mid $200,000 to more than $500,000 range. Condos start at $90,000. Indian Wells - Three and four bedroom homes beginning in the mid $100,000s and going to $300,000. The homes are mainly ranch and two story. Madison Lakes - Homes in this Boynton Beach gated community begin in the upper $300,000s. Majestic Isles - Three-bedroom, 2-bath homes built in the 1990s, the prices range from $170,000 to the low $200,000s. Palm Chase Lakes - There are approximately 350 homes located in this community. It is 15 minutes by car to Delray Beach. Platina - One of the Boynton Beach gated communities that are available for all ages. There are two and three bedroom condos and coach homes in this community. Ponte Vecchio - Two and three bedroom homes built in 2000 and 2001, ranging in size from 2,000 to 2,600 square feet. Royal Lakes - Three bedroom homes from the late 1990s to the 2000s. Sandhurst - Boynton Beach gated community for 55 and up, there are about 104 homes. Sausalito Place - A 55 and up community with homes from 1,158 to 1,576 square feet. Sun Valley - Three and four bedroom homes from the mid $300,000s to the upper $400,000s. The Club - One of Boynton Beach gated communities featuring homes from the $200,000 to the $300,000 range. If you would like more information about Boynton Beach homes, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

Think You Know Florida? Take the Test and Find Out!

How much do you know about the fourth largest state in the U.S. in terms of population? Everyone knows this is where Disney World is located. What else do you know about Florida? When did Florida become a U. S. territory? a) 1827 b) 1815 c) 1836 d) 1820 Answer: d) 1820 Many residents of this city are born outside the U.S. More so than any other city in Florida. Which city is this? a) Miami b) Orlando c) Jacksonville d) Tampa Answer: a) Miami In the 2000 election how many electoral votes did Florida have? a) 30 b) 27 c) 25 d) 29 Answer: c) 25 What national park is 30 miles west of Miami? a) Monroe National Park b) Alligator National Park c) The Great Swamp National Park d) Everglades National Park Answer: d) Everglades National Park In what city or town is Walt Disney World located? a) Celebration b) Kissimmee c) Orlando d) Lake Buena Vista Answer: d) Lake Buena Vista What is Florida’s state insect? a) Monarch butterfly b) Florida Water Beetle c) Zebra Longwing Butterfly d) Mosquito Answer: c) Zebra Longwing Butterfly Is Miami the largest city in Florida in terms of size? a) True b) False Answer: b) False, Jacksonville is the largest. What is Florida’s capital? a) Tampa b) Orlando c) Miami d) Tallahassee Answer: d) Tallahassee Florida is bordered by how many states? a) 0 b) 2 c) 1 d) 3 Answer: b) 2 What is the large lake in the middle of Florida seen when viewed on a map? a) Okeechobee b) Chatanogga c) Lake Miami d) The Great Florida Lake Answer: a) Okeechobee If you would like more information about Florida, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

Don't make your next Move a False Move when Buying Boynton Beach Real Estate

Choose wisely when looking at Boynton Beach real estate for your new home. A home purchase is a big step. Use the following tips when searching Boynton Beach real estate for you next residence.

1. Choose a real estate agent that you are comfortable with when buying Boynton Beach real estate. Interview the agent just like anyone else you are hiring. Talk to friends and family and see if they can recommend someone with whom they had a good experience.
2. Set a budget that will work for your situation. An approval for $350,000 does not mean you have to spend this much on a home.
3. Do not buy the most expensive home on the block. The best idea is to get a price point that is average for the neighborhood. Homes that are overbuilt will depreciate in value.
4. Research the neighborhood. Visit at different times of the day and days of the week. Are there good schools nearby? Does it have access to public transportation if you use this method to commute to work?
5. Do not buy a home without actually seeing it. Today with the technology the Internet provides and virtual tours becoming popular, this makes buying a home easier. The Boynton Beach real estate should be toured in person. Looks can be deceiving.
6. Do not focus entirely on the decor of the home. Your choice should be based on the way the home is laid out and square footage rather than being swayed by the things inside.
7. Learn what real estate terms mean. Cozy usually means small. If it sounds too good to be true, likely it is and you should not accept an ad as fact.
8. Getting pre-approved is a good idea. This will allow you to have a price range that you qualify for and it tells sellers that you are a serious buyer.
9. Buy the Boynton Beach real estate according to what you want - not what you already have.
10. Always get a home inspection before purchasing Boynton Beach real estate. This can be essential to keep you from buying a home with hidden problems that can be expensive to repair.
11. Do not buy the first home you look at without seeing others. First time homebuyers often fall in love with the first one and do not think they need to look at other homes. Tour at least three others before making a choice.

If you would like more information about Boynton Beach real estate, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

Cheap Boynton Beach Real Estate Equals Heightened Foreign Interest

Sales of Boynton Beach real estate are part of the latest surge of foreign purchases of homes in the U.S. The $16 billion increase this year is one of the highest in years. According to the 2011 Profile of International Home Buying Activity from the National Association of Realtors, the U.S. is still the number one destination for foreign investors. Boynton Beach real estate is one area of Florida that is popular with Canadians, Europeans and Latin Americans. According to the National Association of Realtors, there are three primary factors that foreign investors consider when buying in the U.S. One is the climate. The accessibility using air transportation is another and proximity to their home country is another. The low prices and excessive inventory are two of the major attractions for foreign buyers. Arizona, Florida, Texas and California are experiencing the most foreign sales. The total residential sales to International buyers for the period ending March 2011 were $82 billion, an increase from $66 billion in 2010. According to the report from the National Association of Realtors, there were 61% of foreign buyers purchasing single-family homes and 36% bought a townhouse, condo or apartment. Additionally, the sales to foreign buyers that were all cash totaled 62%, which was substantially higher than all cash sales to domestic buyers. A new factor that is coming into play for International buyers is the large number of U.S. schools that are being attended by foreign students. Many International buyers are purchasing Boynton Beach real estate and property in other areas due to the proximity to colleges and universities that are being attended by their children. This provides a place for them to live while attending school. There are also many foreign executives currently working in the U.S. and many prefer buying a home rather than renting. Recent buyers of Boynton Beach real estate and other U.S. destinations are from 70 different countries. This is the fourth year that Canada was at the top of the list when it came to purchases of U.S. property. Sales to Canadians were at 23% and China was second, purchasing 9% of U.S. properties. In addition, India, the U.K. and Mexico were third and these five countries accounted for 53% of the sales to foreign buyers for 2011. If you would like more information about Boynton Beach homes, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

Boynton Beach Homes being purchased by more Oversea Buyers

Boynton Beach homes are selling! Home prices are cheaper than they have been in years and many prices have been reduced even more. Approximately $24 billion has been cut off the price of homes for sale in the U.S. in that last year. Of this amount, $3 billion of the decreases in price were in Florida. This is thought to be one of the reasons real estate in the U.S. is generating an interest among buyers abroad. Boynton Beach homes are among several others in Florida that are experiencing a lot of interest from international buyers. The most popular cities in Florida where international buyers are shopping are:

1. Cape Coral
2. Miami
3. Fort Lauderdale
4. Naples
5. Fort Myers
6. Miami Beach
7. Kissimmee
8. Orlando
9. Jacksonville
10. Tampa

International buyers spent $41 billion dollars on homes in the U.S. last year. According to the results, they do not consider Boynton Beach homes or homes in Florida, for that matter to be just for tourists and retirees. The interest in Florida by global buyers was in addition to typical spots such as San Francisco, New York City and Los Angeles. According to Trulia, global shoppers typically target 24 American cities including Chicago, Honolulu and Beverly Hills. Buyers from Brazil, Europe and Canada spent approximately $13 billion on Florida homes last year. The homes are being sold for far less and Arizona homeowners are reducing their prices tremendously as well. There is an interest in the cities of Tucson and Phoenix as well, but not as much as Florida is experiencing. The Boynton Beach homes and others in cities across the state are generating interest from various parts of the globe. Brazil, the Netherlands, Germany, Russia, Sweden, France, Canada and the United Kingdom are the major countries that are looking into Florida real estate. The interest does not appear to be slowing down any according to Trulia. This could be help for the housing market in Florida that has suffered the same fate as many other cities across the U.S. due to the economy. If you would like more information about Boynton Beach homes, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!

July 4th Fireworks and Events in Boynton Beach and Area

July 4th events in Boynton Beach include a variety of celebrations within the area. Many of the events scheduled include parades, entertainment, contests and of course, fireworks. The following are a few of the July 4th events in Boynton Beach and the surrounding areas.

• The 4th of July Bicycle Parade - a celebration of the upcoming birthday of America featuring decorating bicycles in red, white and blue. There will be prizes for the Best Decorated Bike. The event will be in Terramar Park, Parkland, FL and will from 9 a.m. to 11 a.m. Admission is free.
• 4th of July Fireworks Extravaganza - the City of Pompano Beach will have fireworks at the City’s Main Public Beach, to the north and south of the Pier beginning at 9 p.m. The public is invited to bring their lawn chairs and blankets and enjoy the events.
• 4th of July Celebration - Another of the July 4th events in Boynton Beach surrounding areas will be at Pembroke Pines, FL. The Pines Recreation Festival grounds on Pine Boulevard will be the location for music, rides, food, entertainment and fireworks. The celebration will be from 6 p.m. to 9 p.m.
• Deerfield Beach’s 4th of July Celebration - The 4th of July events begin at 1 p.m. at the Main Beach Parking Lot in Deerfield Beach. There will be a variety of fun activities for the entire family as well as refreshments. The fireworks will begin at 9 p.m.
• A fun time for everyone will be had at the Annual Fourth of July Family Fun event in Fort Lauderdale. The festivities start at 11 a.m. at the Lauderdale Isles Yacht & Tennis Club and continue through 10 p.m. A fireworks display will conclude the day.
• Fabulous Fourth Celebration - Part of the July 4th events in Boynton Beach and the surrounding areas will include the festivities at Boca Raton on the Florida Atlantic University Campus. There will be a whole host of rides, crafts, games, food, a concert by the Florida Wind Symphony and an American Tribute stage show. The fun begins at 6 p.m. and fireworks will be launched at 9:30 p.m.

Come enjoy the July 4th events in Boynton Beach and the many fun celebrations in the surrounding communities. This will be a great way of celebrating the 235th birthday of America. If you would like more information about Boynton Beach homes, please feel free to contact us at 561-670-4391 or visit our Contact Us page where you can send us a message. We’ll get back to you right away!