Things To Think About

Aug. 14, 2017

Why are home prices rising

Palm Beach County is experiencing a housing shortage

According to Trulia, the United States and Palm Beach County are experiencing a housing shortage.  

Truila's Chief Economist Ralph McLaughlin stated "America is experiencing a housing shortage".  This shortage is most acute in the first time home buyer market and these home buyers will on average have to spend more the 25 percent of their income to buy median priced entry level homes.  

Palm Beach County's first time and trade up homes inventory has dropped over 20 percent since 2012 resulting in rising prices.  With six months of inventory is a healthy market in balance, the under $500,000 home market inventory available for sale has dropped under three months of inventory,  Many homes, if priced correctly, are selling in under 14 days with multiple buyers bidding.  However, due to the tighter lending conditions, we are not in any form of housing bubble.

As indicated by the information below, better weather is the primary reason that people consider relocating.  With more people moving to South Florida each month the tightened home market is not expected to be alleviated for quite a while.  

Buyers need to be prepared when looking for a home.

1) Get your financing in order.  Buyer's must be prequalified by a lender to make an offer.  Most seller's will not consider any offers without such qualification.  Additionally, buyer's will benefit from pre-qualifying by being able to focus on the homes most attainable to them. 

2)  Use a real estate agent.  While Zillow and Trulia have a great amount of information available to buyers, such information is not always current.  With homes selling quickly, agents can identify homes coming on the market and prevent time wasting by identifying homes that have already been put under contract.


Thinking of buying or selling call (561)901-1358


Posted in Home affordability
March 8, 2017

Boca Raton Residents Age Group Graph

The highest percentage of Boca Raton Residents are 35-54 years old.  See the stats provided by RPR.

March 3, 2017

January Palm Beach County RAPB stats


The January Local Market Update

The January stats are out.  We are still in a seller's market in single family homes.  A seller's market exists when there is less then 6 months of inventory available for sale; as you can see by the below chart single family homes are in a seller's market.  When in a seller's market most of the power of negotiation is with the seller.  You can see that the average home sold for about 94% of it's original sales price with many properties having multiple offers.  The townhouse and condo market is more neutral with 6.2 months of inventory this market is slight buyer's  market.


You might ask why are these market's different.  A lot of it has to do with financing of the properties.  Most Condos DO NOT qualify for FHA (federal housing Administration) loans.  FHA loans are the most flexible allowing buyers to acquire properties with as little as 3.5% down.

Call me with any property or financing concerns or questions here.





March 1, 2017




Welcome to my new blog here I will share with you pertinent info relating to real estate.  Topics will vary but will always seek to keep you in touch with the latest news.



Posted in Example Category