South Florida Homes Team's Bloghttp://southfloridahomesteam.com/blogBoynton Beach Florida real estate market news provided by South Florida Homes TeamThu, 23 Feb 2012 14:31:00 GMTFlorida Housing Market Upbeat in January 2012Please read the following article by the Florida Realtors about the Real Estate economy in January 2012.

]]>http://www.southfloridahomesteam.com/Blog/Florida-Housing-Market-Upbeat-in-January-2012http://www.southfloridahomesteam.com/Blog/Florida-Housing-Market-Upbeat-in-January-2012Thu, 23 Feb 2012 14:31:00 GMTBoynton Beach Real Estate update for July 2011Boynton 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!]]>http://www.southfloridahomesteam.com/Blog/boynton-beach-real-estate-update-for-july-2011http://www.southfloridahomesteam.com/Blog/boynton-beach-real-estate-update-for-july-2011Wed, 31 Aug 2011 12:19:00 GMTBoynton Beach Home Mortgage Rates could Increase due to the U.S. Debt DowngradeBoynton 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!]]>http://www.southfloridahomesteam.com/Blog/boynton-beach-home-mortgage-rates-could-increase-due-to-the-u-s-debt-downgradehttp://www.southfloridahomesteam.com/Blog/boynton-beach-home-mortgage-rates-could-increase-due-to-the-u-s-debt-downgradeTue, 16 Aug 2011 15:01:00 GMTBest Ways to Maintain your Boynton Beach Home during the SummerBest 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!]]>http://www.southfloridahomesteam.com/Blog/best-ways-to-maintain-your-boynton-beach-home-during-the-summerhttp://www.southfloridahomesteam.com/Blog/best-ways-to-maintain-your-boynton-beach-home-during-the-summerFri, 12 Aug 2011 12:21:00 GMTBest Ways to Save Money while Saving Energy inside your Boynton Beach HomeBest 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
Saving money and energy

Image courtesy of www.ext.homedepot.com

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]]>http://www.southfloridahomesteam.com/Blog/best-ways-to-save-money-while-saving-energy-inside-your-boynton-beach-homehttp://www.southfloridahomesteam.com/Blog/best-ways-to-save-money-while-saving-energy-inside-your-boynton-beach-homeWed, 03 Aug 2011 17:22:00 GMTBoynton Beach Gated CommunitiesBoynton 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!]]>http://www.southfloridahomesteam.com/Blog/boynton-beach-gated-communitieshttp://www.southfloridahomesteam.com/Blog/boynton-beach-gated-communitiesMon, 25 Jul 2011 21:38:00 GMTThink You Know Florida? Take the Test and Find Out!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!]]>http://www.southfloridahomesteam.com/Blog/think-you-know-florida-take-the-test-and-find-outhttp://www.southfloridahomesteam.com/Blog/think-you-know-florida-take-the-test-and-find-outFri, 22 Jul 2011 14:59:00 GMTDon't make your next Move a False Move when Buying Boynton Beach Real EstateDon'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!]]>http://www.southfloridahomesteam.com/Blog/dont-make-your-next-move-a-false-move-when-buying-boynton-beach-real-estatehttp://www.southfloridahomesteam.com/Blog/dont-make-your-next-move-a-false-move-when-buying-boynton-beach-real-estateThu, 14 Jul 2011 10:54:00 GMTCheap Boynton Beach Real Estate Equals Heightened Foreign InterestCheap 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!]]>http://www.southfloridahomesteam.com/Blog/cheap-boynton-beach-real-estate-equals-heightened-foreign-interesthttp://www.southfloridahomesteam.com/Blog/cheap-boynton-beach-real-estate-equals-heightened-foreign-interestWed, 06 Jul 2011 17:40:00 GMTBoynton Beach Homes being purchased by more Oversea BuyersBoynton 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!]]>http://www.southfloridahomesteam.com/Blog/boynton-beach-homes-being-purchased-by-more-oversea-buyershttp://www.southfloridahomesteam.com/Blog/boynton-beach-homes-being-purchased-by-more-oversea-buyersWed, 29 Jun 2011 14:02:00 GMTJuly 4th Fireworks and Events in Boynton Beach and AreaJuly 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!]]>http://www.southfloridahomesteam.com/Blog/july-4th-fireworks-and-events-in-boynton-beach-and-areahttp://www.southfloridahomesteam.com/Blog/july-4th-fireworks-and-events-in-boynton-beach-and-areaThu, 23 Jun 2011 13:28:00 GMTLosses occurred within Boynton Beach Homes Devastated by Natural Disasters covered by IRSLosses occurred within Boynton Beach Homes Devastated by Natural Disasters covered by IRS Boynton Beach homes affected by natural disasters and other events may be covered for losses by the IRS. If your home is damaged or destroyed and is not fully insured or if you have no insurance, you may be eligible to take a tax deduction for casualty losses. There have been a number of areas affected by floods and tornadoes recently. Many homes have been heavily damaged or totally destroyed by weather-related events. Boynton Beach homes may be prone to damage from tornadoes as well as many other sudden events that qualify for casualty losses. The following are just a few of the events that can be considered a casualty loss for your Boynton Beach home and others across the nation.
  • Floods
  • Earthquakes
  • Tornadoes, hurricanes and storms
  • Fire
  • Sonic Booms
  • Landslides
  • Terrorist attacks
  • Volcanoes
  • Vandalism
The thing that separates a casualty loss from other types is the suddenness with which it happens. If the problem occurs over time, such as deterioration, this is not considered a casualty loss. Each casualty loss must be deducted separately and this can only be done if you itemize deductions and the loss is more than $100. If the casualties that occur are more than 10% of your adjusted gross income when filing taxes and you have subtracted $100 for each one, you can take the credit for a casualty loss. Business property is not dependent on these limitations when a loss occurs. How much can you deduct for losses on Boynton Beach homes? This will depend on the damage. If the property is totally destroyed or only partially destroyed as well as if the loss is insured will be two of the factors to be considered. If your home is a personal use property and is not totally destroyed, the amount of the casualty loss will be the lesser of two amounts. It will be the cost of the property after improvements or depreciation is calculated or it will be the amount after the decrease in value due to damage is figured. 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!]]>http://www.southfloridahomesteam.com/Blog/losses-occurred-within-boynton-beach-homes-devastated-by-natural-disasters-covered-by-irshttp://www.southfloridahomesteam.com/Blog/losses-occurred-within-boynton-beach-homes-devastated-by-natural-disasters-covered-by-irsWed, 15 Jun 2011 10:12:00 GMTWellington Property Values Drop SlowingWellington Property Values Drop Slowing Wellington property values have slowed in the rate of decrease. Experiencing less than a one percent decrease, the estimated value is $5.36 billion in 2011 compared to $5.40 billion in 2010. The decrease was not as high as expected. According to preliminary figures that were released on June 1, the Palm Beach County Property Appraiser’s office says Wellington property values fared better than many others did. In the central part of Palm Beach County, Royal Palm Beach had a real property value decrease of 3.5%. Down from $1.90 billion in 2010 to $1.83 billion for 2011, the manager of the Royal Palm Beach village said this was the fourth year in a row for reductions in value. The revenue decrease totaled a half-million dollars. In 2007, ad valorem property tax revenue was $5.5 million and today stands at $3.3 million. Property values in Royal Palm Beach are only relied on for 20% of their revenue, which puts them in a better position than other Wellington property values. For example, Loxahatchee Groves experienced a drop of almost 10%. Their total taxable value for 2011 is $178 million - a decrease from $198 million in 2010. Many depend on as much as 50% for their revenue. Still, the total of all revenue sources was down by $480,000 in 2011. The property values in 2007 were $2.8 billion and currently are $1.8 billion so this is a billion dollar drop in assessed property values. The village has been reducing its tax rate. Although the real estate market has had their fair share of difficulties and is currently depressed, Wellington property values have not declined a great deal. The Finance Director, Mireva McIlveen says the budget looks good considering the anticipation of increased ad valorem revenue. Budget cuts have been made, but it is expected that when they are reviewed, some may be reinstated. With the new figures in, the process of reevaluating the 2011-12 budget is ongoing. According to the Deputy Village Manager of Wellington, John Bonde, the finance people are very good at estimating the amount that is received from tax revenue and what the Wellington property values will be. If you would like more information about Wellington FL 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!]]>http://www.southfloridahomesteam.com/Blog/wellington-property-values-drop-slowinghttp://www.southfloridahomesteam.com/Blog/wellington-property-values-drop-slowingTue, 07 Jun 2011 20:34:00 GMTBoynton Beach, FL Real Estate Dreams? Here’s the best Ways to make it RealityBoynton Beach, FL Real Estate Dreams? Here’s the best Ways to make it Reality Make your dream of owning Boynton Beach, FL real estate come true. Saving for a home can be made much easier when you learn where to cut spending. It is amazing how much can be saved by changing a few spending habits. The following will help you to save money for the down payment on your Boynton Beach, FL real estate as well as the closing costs and incidentals that are part of buying a home. The first thing you need to do is to open a savings account. Have a certain amount deducted from your paycheck each week or bi-weekly - however you are paid. This amount should go directly into the savings account. Putting $100 a month into the account will mean a savings of $1200 per year. If you can afford to put more in the savings account, it can be even more! Each dollar you save puts you one step closer to owning the Boynton Beach, FL real estate you want to buy. One of the things most people do not realize is that they spend a lot of money on things that they do not need. Shopping is a way of life for most Americans. They shop when they are bored and they shop just to be shopping. Stop spending money unnecessarily. Do you really need everything that you buy? By reducing the amount spent on items that are not necessary, this money can go into the fund for your Boynton Beach, FL real estate. A mere $20 per week is $1,000 at the end of a year. If you stop using credit cards, you can save money. The interest rates are very expensive and paying only the minimum can take years to pay off all the debt that can be accumulated. Instead of making purchases with credit, pay with cash or a debit card and only for items that you really need. Rather than memberships, such as gyms work out at home. The purchase of a few pieces of exercise equipment for less than a membership fee will save money that can be put towards the down payment on your Boynton Beach, FL real estate. If you would like more information about Boynton Beach, FL 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!]]>http://www.southfloridahomesteam.com/Blog/boynton-beach-fl-real-estate-dreams-here’s-the-best-ways-to-make-it-realityhttp://www.southfloridahomesteam.com/Blog/boynton-beach-fl-real-estate-dreams-here’s-the-best-ways-to-make-it-realityMon, 30 May 2011 19:04:00 GMTHow attending you Neighbors Boynton Beach Open House could make you Money!How attending you Neighbors Boynton Beach Open House could make you Money! The Boynton Beach house of a neighbor is for sale and will be open for viewing. You really would like to go but feel like you would be considered nosy! Do not worry. There are a great many advantages to attending the open house from getting an idea about neighborhood values to comparing the upgrades. If you are planning to sell your home soon, this information will be vital to know how your Boynton Beach house appeals to prospective buyers. If the home for sale down the street has not had any upgrades in the last 10 years and you have recently upgraded appliances and modernized your bathrooms, this makes your home more appealing to buyers. On the other hand, if your Boynton Beach house is not up to date, you can get an idea of some improvements you can make. This does not mean you should run out and get new appliances because the house across the street has the latest ones. The improvements you make should be done in order of priority. What are home buyers looking at when they tour a home? They want to know the roof is in good shape. They may be more interested in an open floor plan than a Jacuzzi. The things that are popular in the area in which you live are what you need to concentrate on improving. Do not worry about feeling that you are being a nosy neighbor. With the market being what it is today, most people understand that you may be selling your Boynton Beach house soon and want to compare homes. In addition, they hope you will tell friends and family about the home and this may result in a buyer. The more people that attend an open house, the better the chances are of selling the home. Looking at homes that are of similar design, as they often are in the same neighborhood, can give you a few good ideas. The way your neighbor’s living area is arranged may be much more eye pleasing than your furniture arrangement. Remember, selling a home means making it as appealing as possible. Whether you are planning to sell your Boynton Beach house now or at a future time, you can still get many good ideas by attending a few open houses in your neighborhood. 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!]]>http://www.southfloridahomesteam.com/Blog/how-attending-you-neighbors-boynton-beach-open-house-could-make-you-moneyhttp://www.southfloridahomesteam.com/Blog/how-attending-you-neighbors-boynton-beach-open-house-could-make-you-moneyTue, 24 May 2011 14:52:00 GMTVacation Properties in Boynton Beach holding StrongVacation Properties in Boynton Beach holding Strong Vacation properties in Boynton Beach are remaining strong in spite of the restrictions that have been placed on conventional lending. Those who purchased a vacation home in 2010 were only down by 1.8% from 2009. This is in sharp contrast to those who purchased primary residences. They fell by 5.6% and investment purchases were down even more at 7.8%. Investors are perhaps waiting for the market to bottom out before making purchases. The price of properties in Boynton Beach and across the U.S. is down as well. The median price of a vacation home is currently $150,000. There were a number of people buying properties in Boynton Beach using all cash. In addition, the number of distressed properties being purchased for second homes was higher than those bought as primary residences. The cost of investment homes was lower by 10.5% than they were in 2009 and primary home prices were 4.5% lower. Vacation home prices were 11.2% lower than the previous year. The highest number of vacation homes was sold in the south, where last year they accounted for 36% of sales. When looking at the reasons for purchases of properties in Boynton Beach for vacation homes, lifestyle seems to be the number one consideration. Investment purchases are being sought for rental income and both are being purchased with the idea of living in the homes as primary residences in the future. There were 34% of buyers who purchased vacation homes that plan to live in the home in the future. In the investment home market, 10% said they plan to live in the home as their primary residence in the future. There were 14% of vacation homebuyers who purchased properties in Boynton Beach for use by family and friends. The number of investors buying homes for the same reason was 14%. There have been fewer renters and sellers with the decline of home prices in the past few years, but for now properties appear to be holding strong. 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!]]>http://www.southfloridahomesteam.com/Blog/vacation-properties-in-boynton-beach-holding-stronghttp://www.southfloridahomesteam.com/Blog/vacation-properties-in-boynton-beach-holding-strongTue, 17 May 2011 16:49:00 GMTDowntown Delray Beach Craft Festival - Memorial Day Weekend 2011Downtown Delray Beach Craft Festival - Memorial Day Weekend 2011 Events for downtown Delray Beach this Memorial Day weekend will be in full swing May 28 and 29. The 14th Annual Downtown Delray Beach Craft Festival Downtown Delray Beach will be featuring a host of crafts from across the country. The range of unique crafts on display for the public have been carefully chosen by American Craft Endeavors, one of the top in the country for producing outdoor craft festivals. The location is downtown Delray Beach at the Delray Beach Tennis Center at Atlantic Avenue and SW 3rd Avenue from 10 a.m. to 5 p.m. Crafts from local and national crafters will be featured and admission is free. With prices from $3 to $3,000, there will be something for everyone. Everyone is invited to come out and enjoy the wide assortment of handmade items from clothing to jewelry. Many other items will be on display and available for the public to purchase including folk art, personalized gifts, pottery, scented soaps, paintings and body products. The downtown Delray Beach event will also feature the Green Market with exotic plants. In addition, the crafters are available to chat with visitors and give them some insight into what inspires their work. Downtown Delray Beach is one of the culturally rich cities chosen by American Craft Endeavors for their craft shows. Supporting the local economy and the arts, the festival will provide a fun-filled Memorial Day weekend event for local residents and visitors as well. The outdoor festivals are some of the most popular in the country and are held at various cities in America every weekend. The downtown Delray Beach location is a main thoroughfare of the city. Providing the perfect venue for the festival, just a few of the crafts available this year will include candles, scrapbooks, quilts and bags, high heel craft, paper collage, wood, pet products, art glass and fabric. Also included will be jewelry of all types from glass to gold and beaded. This is sure to be an enjoyable weekend for everyone. Visit the 14th Annual Downtown Delray Beach Craft Festival this Memorial Day weekend. If you would like more information about Downtown Delray Beach, 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!]]>http://www.southfloridahomesteam.com/Blog/downtown-delray-beach-craft-festival-memorial-day-weekend-2011http://www.southfloridahomesteam.com/Blog/downtown-delray-beach-craft-festival-memorial-day-weekend-2011Fri, 13 May 2011 13:22:00 GMTOverview of Palm Beach County Real Estate Q1Overview of Palm Beach County Real Estate Q1 Palm Beach County real estate experienced a drop of over 3% in the median price of homes during the first three months of 2011. From March 2010 to March 2011, the drop was 24%. Compared to other counties within the state, such as Broward, where a 6% increase in median prices was experienced, the drop in Palm Beach County real estate prices may be due to several things. The large number of homes for sale is one. There is a 10.6-month supply of single-family homes or almost 11,000 in Palm Beach County. Additionally, the sale of bargain-priced homes has had a huge impact on Palm Beach County real estate. During the first three months of 2011, there were 60 sales of homes priced $25,000 or less. Investors have been purchasing the homes in this price range and fixing them up to rent. This practice lowers the price of median homes. Many believe this is a misleading way of reflecting property values. The median price simply means that half the homes in the area sold for less and half sold for more. Homeowners may see the median for Palm Beach County real estate has fallen 20% in a particular month and think their property value is down by that percentage. What the median price really projects is what sector of the market is experiencing the most activity. Currently, the most active sector in Palm Beach County real estate is under $200,000. Therefore, compared to Broward County’s median price in February of $167,000, Palm Beach County real estate appears to be in much worse shape. However, sales of single-family homes in Palm Beach County were twice as many as Broward County. There were 60 sales during the first quarter or 2011. One aspect being considered when it comes to the median prices is the fear that more foreclosures later in the year could affect these prices. Lenders are lifting the freezes imposed on foreclosures due to the problem associated with robo-signing of documents. Florida Realtors are changing the way the value of a home is measured. They have begun to develop a pricing index similar to the Standard & Poor’s/Case-Shiller Home Price Index. This will allow the value of a home to be measured over time. If you would like more information about Palm Beach County 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!]]>http://www.southfloridahomesteam.com/Blog/overview-of-palm-beach-county-real-estate-q1http://www.southfloridahomesteam.com/Blog/overview-of-palm-beach-county-real-estate-q1Thu, 05 May 2011 11:45:00 GMTDiscover Delray Beach’s Artistic Side at the Old School SquareDiscover Delray Beach’s Artistic Side at the Old School Square If you are looking for things to do in Delray Beach, you are in for a treat! The Old School Square Cultural Arts Center and National Historic Site is nationally recognized for the combination of the arts and historic preservation that stimulated the revitalization of the down area of Delray Beach. Residents and visitors alike can take advantage of the Cornell Museum of Art and American Culture. Providing rotating exhibits of local, national and international pop culture, art and crafts, the museum dates from about 1913. One of the things to do in Delray Beach will include a visit to the Crest Theatre. Enjoy a Broadway cabaret or a musical or comedy. A 323-seat theatre, the Crest presents lectures featuring world-renowned speakers and a variety of shows for the enjoyment of all. Upcoming speakers include a variety of well-known names such as Jenna Bush Hager, daughter of former President George Bush and Steven Bogart, son of Humphrey Bogart and Lauren Bacall. The Vintage Gymnasium is the perfect setting for weddings, corporate events, craft shows and more. An outdoor Entertainment Pavilion at Old School Square was part of the expansion project for the square and was completed in 2002. At the corner of Swinton and Atlantic Avenues, the square is the setting for all types of festivals that are held in Delray Beach. The classrooms that have been restored provide a variety of uses from the art and photography classes that are held here to rentals for seminars and meetings. This “Village by the Sea” is a destination for many worldwide and is the perfect example of an “All-America” city. Located only 45 minutes from Fort Lauderdale and 30 minutes from the Palm Beach International Airport, it is easily accessible. From art exhibitions to dance parties, Old School Square provides a variety of things to do in Delray Beach. The ultimate goal is to provide a cultural center for the community where experiences in entertainment, education, the visual and performing arts can be enjoyed as well as the preservation of this National Historic Site. If you would like more information about Delray 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!]]>http://www.southfloridahomesteam.com/Blog/discover-delray-beach’s-artistic-side-at-the-old-school-squarehttp://www.southfloridahomesteam.com/Blog/discover-delray-beach’s-artistic-side-at-the-old-school-squareMon, 25 Apr 2011 12:25:00 GMTMore Australians find Wellington FL Homes very Enticing!More Australians find Wellington FL Homes very Enticing! The latest trend in buying foreclosed properties for investment purposes includes Wellington FL homes. However, those who are purchasing the foreclosed properties are not investors in the U.S. They are from Australia. The Australian economy is in very good shape and home prices there average $500,000. They work with a real estate professional in the U.S. who finds the homes, arranges the sale with Australians providing the capital and they make a profit when the home is renovated and rented. The trend before this year included mostly Americans buying the Wellington FL homes that had been foreclosed on as an investment property. Today 30% of those purchasing foreclosure for investment are from overseas. The real estate professionals who find the Wellington FL homes for investors also manage them once they are renovated and rented. Australians are experiencing a boom in the export business with China buying many commodities, such as fossil fuel and metals from Australia. Their home prices did not fall and the Australian dollar is strong and near record highs. Unemployment is only 5.1%. All of this adds up to Australians having plenty of cash for investment purposes, although many are taking out home equity loans to purchase the Wellington FL homes for investment. A typical deal looks like this. An investor finds the Wellington FL home for approximately $70,000. A down payment of $19,000 puts monthly costs for the investor at about $700. This includes the loan payment, taxes, insurance and a management fee. 12% of the rent charged is put into an emergency fund for maintenance and for periods when the home is not rented The home rents for $1000 per month, so the investor is making $300 per month on the property. This is only for one property and most investors have several. Property management companies are making money; the investors are making money while keeping the home from sitting empty and becoming an eyesore. Although there are those who say this practice of buying foreclosed Wellington FL homes is taking advantage of the misfortune of others, investors and property management view it as the “free market at work.” If you would like more information about Wellington FL 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!]]>http://www.southfloridahomesteam.com/Blog/more-australians-find-wellington-fl-homes-very-enticinghttp://www.southfloridahomesteam.com/Blog/more-australians-find-wellington-fl-homes-very-enticingTue, 19 Apr 2011 12:45:00 GMT