Friday, January 18, 2019 / by Carl Gentile
Season is here and the Palm Beach County real estate market is heating up. In an article recently published by Bloomberg, we are seeing more indivdiuals, especially in the luxury market, escaping high tax states and shifting towards the no-state income tax state of Florida. On average, 1,000 people PER DAY are moving to this beautiful slice of paradise. Let's take an in depth look at how the market has changed over the past month in the Palm Beaches.
Read More
market updates, palm beach county real estate, real estate, luxury homes
Thursday, June 7, 2018 / by Carl Gentile
Did Tax Reform Kill the Luxury Market? Not so Far!
The new tax code limits the deduction of state and local property taxes, as well as income or sales taxes, to a total of $10,000. When the tax reform legislation was put into law at the beginning of the year, some experts felt that it could have a negative impact on the luxury housing market.
Capital Economics:
“The impact on expensive homes could be detrimental, with a limit on the MID raising taxes for those that itemize.”
Mark Zandi of Moody’s Analytics:
“The impact on house prices is much greater for higher-priced homes, especially in parts of the country where incomes are higher and there are thus a disproportionate number of itemizers, and where homeowners have big mortgages and property tax bills.”
The National Association of Realtors (NAR) predicted price declines in “high cost, higher tax areas” because of the tax changes. They forecasted a depreciat ...
Read More
palm beach county, market updates, jupiter florida, palm beach county real estate, real estate, luxury real estate, tax benefits of florida, luxury homes
Thursday, May 17, 2018 / by Carl Gentile
Moving Up To Your Dream Home? Don't Wait
Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true.
Where are home values today compared to the beginning of the year?
While rates have been rising, so have home values. Here are the most recent monthly price increases reported in the Home Price Insights Report from CoreLogic:
January: Prices were up 0.5% over the month before.
February: Prices were up 1% over the month before.
March: Prices were up 1.4% over the month before.
Not only did prices continue to appreciate, the level of appreciation accelerated over the first quarter. CoreLogic believes that home prices will increase by 5.2% over the next twelve months.
How can prices rise while mortgage rates increase?
Freddie Mac explained in a recent Insight Report: ...
Read More
palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, carl gentile, luxury homes
Monday, March 19, 2018 / by Carl Gentile
Dreaming of a Luxury Home? Now's the Time
If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! Recently, the Institute for Luxury Home Marketing released its Luxury Market Report which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds the number of people searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer or can be found at a discount.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call their house their new home.
The sale of your starter or trade-up house will help you come up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not all who are buying luxury properties have a home to sell ...
Read More
palm beach county, market updates, jupiter florida, homeowners, palm beach county real estate, real estate, wealth, luxury real estate, luxury homes, waterfront
Friday, December 1, 2017 / by Carl Gentile
Palm Beach Gardens, Florida luxury living at it's finest in this 8,311 waterfront masterpiece. Step inside this 5 bedroom and 8 bath luxury home. 14670 Palmwood boasts the finest of luxury detail and construction quality, all encompassing the ultimate in Palm Beach luxury living. Deep water access, no fixed bridges, and minutes to the wide open ocean.
View Full Details Here
Read More
palm beach county, jupiter florida, wealth, palm beach county real estate, real estate, luxury homes, luxury real estate, waterfront
All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2023 BeachesMLS, Inc.
