Tag: real estate

Real Estate News
Real Estate Property
Fraud Alert

Mark & Annmarie Lenson Farming & Pad Photo

USA – Florida

Real Estate News – S.E. Florida
Orange County – Palm Beach County – Broward County

Orlando – Vero Beach – Fort Pierce – Port St. Lucie – Stuart – Jupiter – Palm Beach Gardens – West Palm Beach – Boynton Beach – Delray Beach – Boca Raton – Fort Lauderdale – Hollywood – Deerfield Beach – Lighthouse Point – Wellington.

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Kissimmee – Cocoa Beach – Melbourne – Palm Bay – Sebastian – Hutchinson Island – Jensen Beach – Palm City – Port Salerno – Hobe Sound – Tequesta – Riviera Beach – Lake Worth – Ocean Ridge – Manalapan – Pompano Beach – Lauderdale By The Sea – Oakland Park – Dania Beach – Hallandale Beach – Loxahatchee – Royal Palm Beach – Okeechobee – Indiantown

Real Estate Property Fraud Alert

Nationwide the fastest growing white-collar crime in the United States according to the FBI is property and mortgage fraud.

In short, scammers file (put on the public record) fake deeds to make it look as if they (the scammer) owns a property.

The scammer then tricks the public, taking their money as the scammer sell the property or rent the property to an unsuspecting purchaser or lessee.

For the County of Palm Beach, Florida, click HERE to read more about this latest scam.  And/or to and sign up for a FREE Property Fraud Alert program from Palm Beach County,  click HERE or call (800) 728-3858.  You will be asked to enter your name or business name.  When your name or business name hits the public records you will be notified automatically within 48 hours.

For other counties throughout the USA, please contact whomever is in charge of the public records and see if they have a similar program for the county your property is located in.

Mark Lenson

Broker / Owner

Lenson Realty, Inc.

Mark & Annmarie Lenson have personally sold over 800 properties in 29 years selling real estate in South Florida.  They have offices from Orlando to Boca Raton, Florida with 107+ agents.  Mark & Annmarie won every award a major national franchise had to offer.  Mark is a real estate instructor, has been on television and has written numerous real estate articles.

Orlando – Vero Beach – Fort Pierce – Port St. Lucie – Stuart – Jupiter – Palm Beach Gardens – West Palm Beach – Boynton Beach – Delray Beach – Boca Raton – Fort Lauderdale – Hollywood – Deerfield Beach – Lighthouse Point – Wellington

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Kissimmee – Cocoa Beach – Melbourne – Palm Bay – Sebastian – Hutchinson Island – Jensen Beach – Palm City – Port Salerno – Hobe Sound – Tequesta – Riviera Beach – Lake Worth – Ocean Ridge – Manalapan – Pompano Beach – Lauderdale By The Sea – Oakland Park – Dania Beach – Hallandale Beach – Loxahatchee – Royal Palm Beach – Okeechobee – Indiantown

City of Boca Raton

M&A

USA – Florida

Real Estate News – S.E. Florida
Orange County – Palm Beach County – Broward County

Orlando – Vero Beach – Fort Pierce – Port St. Lucie – Stuart – Jupiter – Palm Beach Gardens – West Palm Beach – Boynton Beach – Delray Beach – Boca Raton – Fort Lauderdale – Hollywood – Deerfield Beach – Lighthouse Point – Wellington

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Kissimmee – Cocoa Beach – Melbourne – Palm Bay – Sebastian – Hutchinson Island – Jensen Beach – Palm City – Port Salerno – Hobe Sound – Tequesta – Riviera Beach – Lake Worth – Ocean Ridge – Manalapan – Pompano Beach – Lauderdale By The Sea – Oakland Park – Dania Beach – Hallandale Beach – Loxahatchee – Royal Palm Beach – Okeechobee – Indiantown

City Of Boca Raton
Untamed Growth

Having been actively involved in the local real estate market for 29 years, I am frequently asked about the seemingly untamed and aggressive growth of “downtown” Boca Raton, with its sprawl of ugly construction.  It therefore appears prudent of me to share my opinion, both personally and professionally.

The most common question “Is it good or bad?” depends upon your vantage point.

If you are a business owner in downtown Boca Raton, then it is good.  Particularly if you live within walking distance of your business.

If you are not within walking distance of your downtown business, then the massive explosion of tall cement structures lurking over our crowded streets is not so good.  The upside for downtown business owners is more customers; the downside is traffic-clogged roads and increased commuting time.  It appears the City is looking the other way as developers and many owners of these businesses make money and live well outside the downtown area.

From a real estate industry perspective, growth is positive because there are more units to rent.  However, the negative by-product of unbearable traffic which causes difficult access to these units must be taken into account.

Another negative is that unchecked growth depresses property values all over Boca Raton, not just the downtown.

No one ever says, “Let’s increase property values by erecting rental complexes and hotel monstrosities that look like prisons.”  This is not the tasteful, well-planned, upscale architecture for which Boca Raton has always been known.

Thanks to the current administration in Boca Raton, our charming downtown with its quaint stores and beautiful plazas is rapidly becoming a thing of the past.  In my opinion, this is NOT what the vast majority of residents want.

Boca Raton is becoming the new Fort Lauderdale and on its way of becoming a mini Miami due to massive congestion and towering buildings with frontage practically up to the road.  Huh? Setbacks?  What setbacks?

When the question arose as to where we are going to put the thousands of parked cars that we do not have room for, the response was to bus people in off of the rail.  Really?  This increases property values?  I think not.

Before approaching the concept of more money coming into the city via increased taxes, we need to consider the greater need (and expenditure of those monies) for increased emergency services.

Shall we also discuss how emergency services are going to timely get to their destination with the massive abundance of cars and buses congesting our roadways?

Although I could go on forever in this vein (like the unremitting building in the downtown area of Boca Raton,) let it suffice to say that as a homeowner and business professional, I prefer to maintain the history, beauty, quaintness and love for our city. To maintain our tradition of thoughtfully-considered planning and growth, allowing property prices to rise naturally.  Do you remember the simple marketing law….the law of Supply and Demand?

I find it curious that every person I’ve spoken with on this subject in the last few years objects to the decimation of downtown Boca Raton.  That not one resident, whether living downtown or not, thinks the current unfettered growth is a good thing.  Hmm.

Wouldn’t it be nice if the citizens actually had representation…..oh, but that is a different matter.  Or is it?

As a parting remark, at the northeast corner of South Federal Highway and SE 5th Street there is an elevated statue of Addison Mizner holding a monkey on his shoulder.  I think I know where all his brothers and sisters are.  I’m just say’n……

 

Orlando – Vero Beach – Fort Pierce – Port St. Lucie – Stuart – Jupiter – Palm Beach Gardens – West Palm Beach – Boynton Beach – Delray Beach – Boca Raton – Fort Lauderdale – Hollywood – Deerfield Beach – Lighthouse Point – Wellington

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Kissimmee – Cocoa Beach – Melbourne – Palm Bay – Sebastian – Hutchinson Island – Jensen Beach – Palm City – Port Salerno – Hobe Sound – Tequesta – Riviera Beach – Lake Worth – Ocean Ridge – Manalapan – Pompano Beach – Lauderdale By The Sea – Oakland Park – Dania Beach – Hallandale Beach – Loxahatchee – Royal Palm Beach – Okeechobee – Indiantown

Florida Real Estate

M&A

USA – Florida

REALTORS® nationwide are expecting home prices to rise 3.5% over the next twelve months.  In Florida, REALTORS® are more optimistic predicting the median home price will increase 5 – 6% over the next twelve months.

Only the state of Washington, Oregon, Colorado, & Georgia came close, predicting growth at 4 – 5%.

As of July 2015, the median price of all existing homes sold in the USA was $234,000 representing a 6% increase on an annual basis.  According to the National Association of Realtors®, since 2010 home prices have risen a little faster than the annual 2% growth of median household income.

A strong demand in a tight market supply appears to have pushed up prices.  The rising prices are lifting homeowners out of negative equity.  The strong price recovery amid the modest growth and income is also making homes less affordable and dampening demand.  The preceding is according to NAR.

Real Estate News – S.E. Florida
Orange County – Palm Beach County – Broward County

Orlando – Vero Beach – Fort Pierce – Port St. Lucie – Stuart – Jupiter – Palm Beach Gardens – West Palm Beach – Boynton Beach – Delray Beach – Boca Raton – Fort Lauderdale – Hollywood – Deerfield Beach – Lighthouse Point – Wellington

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Kissimmee – Cocoa Beach – Melbourne – Palm Bay – Sebastian – Hutchinson Island – Jensen Beach – Palm City – Port Salerno – Hobe Sound – Tequesta – Riviera Beach – Lake Worth – Ocean Ridge – Manalapan – Pompano Beach – Lauderdale By The Sea – Oakland Park – Dania Beach – Hallandale Beach – Loxahatchee – Royal Palm Beach – Okeechobee – Indiantown

Real Estate in General

Real estate is local by nature.  National real estate news or trends are strictly nationwide numbers not having any bearing on the town or subdivision in which you live, other than by coincidence.

Real estate is so locally sensitive that in some subdivisions and certainly developments with multiple types of real estate, there can be dramatic variances; different types of “products” can be going in different directions at any time.

Orange County
Orlando Area

The median price for all existing homes sold in August 2015 was $182,000, an 11.08% increase from the$163,850 median price recorded in August 2014.

Sales in the Orlando area for all types of residential properties are up 21.81% compared to the same time last year.

Single-family homes have increased 26.23% while condominium sales decreased by 0.87%.

The 5,913 pending sales in August of this year was a decrease of 9.13% compared to the 6,507 pending sales in August of last year.

Short sales make up 21.38% of all pending sales in August 2015 which is a decline of 43.6% from the same time last year.

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole Counties) in August were up 12.06% when compared to the same time last year.

Each individual county’s monthly sales comparisons are as follows:

  • Lake: 1.88% above average August 2014
  • Orange: 12.36% above August 2014
  • Osceola: 26.72% above August 2014
  • Seminole: 8.97% above August 2014

PALM BEACH COUNTY

The following are the latest statistics ending August 2015 and are compared to August 2014.  The 1,518 single-family homes closed  were up 1.2%.  The median sale price of $295,000 represents an increase of 9.3%.    The median days on market was 36, down 34.5%.  The average sale price from the original list price was 94.1%, or up 1%.  Active inventory was 6,622 properties, down 7.9%.  The monthly supply of inventory was 4.4, down 21.6%.

For townhouses and condominiums,there were 1,086 closed sales,up 1.6%.  Median sale price of $138,000 represents an increase of 4.3%. Median days on market was 45, down 19.6%.  The average of original listed prices was 92.4%, up .8%.  Inventory for active listings was 5,297 properties, down 10.5%.  Monthly supply of inventory was 4.5, down 13.3%.

BROWARD COUNTY

Broward County information would certainly be very similar to the statistics in the counties above. We would just change the text for anything that is relative to Broward County.

Orlando – Vero Beach – Fort Pierce – Port St. Lucie – Stuart – Jupiter – Palm Beach Gardens – West Palm Beach – Boynton Beach – Delray Beach – Boca Raton – Fort Lauderdale – Hollywood – Deerfield Beach – Lighthouse Point – Wellington

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Kissimmee – Cocoa Beach – Melbourne – Palm Bay – Sebastian – Hutchinson Island – Jensen Beach – Palm City – Port Salerno – Hobe Sound – Tequesta – Riviera Beach – Lake Worth – Ocean Ridge – Manalapan – Pompano Beach – Lauderdale By The Sea – Oakland Park – Dania Beach – Hallandale Beach – Loxahatchee – Royal Palm Beach – Okeechobee – Indiantown