There were about 20 per cent more single family homes sold in Palm Beach Gardens and throughout Palm Beach County during the first 11 months of 2011 compared with 2010 sales.  And while prices have not started to increase during this period, they seem to have stabilized as 2011 ended.

            Throughout the fall of 2011, the median price of a single family home in Palm Beach County fluctuated from $180,300 in September up to $184,900 in October and then to $183,700 in November, the most recent month for numbers reported by the Florida Realtors Association.

            Just about half of the nearly 800 homes sold in Palm Beach Gardens through November 2011 were priced at or below $300,000.

            This is a reflection of the dramatic price declines in real estate throughout the area since the last boom year of 2006.  In the past five years, prices of single family homes throughout Palm Beach County declined about 55 percent. Prices today are about where they were in 2002.

            Part of the price decline can be attributed to a flood of short sales and foreclosures to hit the local market over the past few years, but many in the business lived through price increases of 20% to 25% per year in some communities and knew that pace could not sustain. 

             Yet it remains an outstanding time for buyers to locate and purchase a fabulous home for relocation, vacation, or investment purposes.  Two bedroom, two bath condos can be bought at prices below $100,000 in West Palm Beach.  And homes in some gated country club communities are now starting in the $100,000’s.    

            The Weiss-Clawson Team researches prices and market trends in many communities throughout Palm Beach Gardens and Palm Beach County to provide the most up to date information for our clients.  If you are interested in buying or selling a home in Palm Beach County, please contact The Weiss-Clawson Team directly.  We look forward to hearing from you and to working with you. 

As 2011 draws to a close, home values in Palm Beach Gardens' premiere estate community of  Steeplechase continue to decline following the county wide pattern where prices of single family homes throughout Palm Beach County hit numbers not seen since spring 2002.  Yet, some local estate communities appear to have reached bottom pricing and are beginning to see values increase.

If you are interested in purchasing an estate home in Palm Beach Gardens, this is the time to be seriously looking.

In September 2011 the median price of a single family home in Palm Beach County fell to $180,300, a 57percent drop from the housing boom peak of $421,500 reached in 2005.  For Steeplechase the average dollars per square foot for the 11 homes sold through the end of October, 2011 was $187/SF a decline of 44 percent from 2006.

Within Steeplechase, the price disparity between larger and smaller homes is significant.  Of the 11 homes sold, seven were under 4000 square feet and averaged $160 per square foot.  Four homes were larger than 4000 square feet and averaged $234/SF.

Four of the 11 homes sold were short sales, foreclosures or abandoned homes and they were all smaller homes.  These distressed properties continue to adversely impact properties values in Steeplechase and many other communities.

There are currently 13 homes on the market in Steeplechase.

In San Michele, for example, prices declined eight percent in 2011 compared with 2010.  Of the six homes sold in the community, two were short sales.  There are eight homes on the market in San Michele.

It can take years for home values to come back up from the pricing damage caused by distressed sales.  But we find that as communities are rid of short sales and foreclosures, prices can stabilize and even begin to increase.

 At Mirabella in Palm Beach Gardens prices in 2011 have increased an average $11 per square foot or six percent compared with 2010.  Mirabella prices decreased five percent in 2010 compared with 2009 and seven percent in 2009 compared with 2008. There are currently 26 homes on the market in Mirabella.

 And at Bay Hill Estates in West Palm Beach prices are up almost 12 percent in 2011 compared with 2010. There are 13 homes on the market in Bay Hill.

The Weiss-Clawson Team is on top of the market in Steeplechase and in most communities throughout Palm Beach Gardens, providing the most up to date information to our clients.  If you are interested in buying or selling a home anywhere in Palm Beach County please call Sue or Carol directly.

Palm Beach Gardens area estate homes at Bay Hill are bucking the downward price trend throughout the area and have seen values increase through most of 2011.  Sales in the community are brisk.

While the median price of single family homes in Palm Beach County is down to $180,300, a slide of 57 percent since the high point in 2005, homes in Bay Hill Estates have increase about 12 percent in 2011 compared with 2010.

Through October, 2011 there were 12 homes sold in Bay Hill Estate and they averaged $159 per square foot.  Just a year earlier, only seven homes sold during 2010 and they averaged $140 per square foot. In 2011 there was just one short sale sold.

As distressed properties are sold and moved off the market property values tend to stabilize and ultimately rise.

There are currently 12 homes on the market in Bay Hill Estates with just one of them listed as a short sale.

Bay Hill is the estate section of PGA National and is home to one of the resort's five golf courses.  The community is located just west of Palm Beach Gardens in the northern portion of West Palm Beach.  All homes in the community are built on about an acre of land providing space for elegant estates.

The Weiss-Clawson Team researches communities throughout the Palm Beach Gardens area to provide the most up to date information for our clients.  If you are interested in buying or selling a home in Palm Beach Gardens, please contact The Weiss-Clawson Team directly.  We look forward to hearing from you and to working with you.

Homes in Palm Beach Gardens' premiere estate community of Steeplechase are selling well with prices continuing to fall, but at a more moderate pace than in previous years.

By late October 2011 there were 11 homes sold in Steeplechase compared with 10 homes sold for all of 2010.  The 11 homes averaged $187 per square foot compared with $200 per square foot for homes sold in 2010, a decline of about seven percent.

In Steeplechase, larger homes usually sell for a higher dollars per square foot amount than do smaller homes.  Homes over 4000 square feet averaged $234 per square foot while smaller homes, under 4000 square feet, averaged just $160/SF.

Overall prices in Steeplechase are down about 45 percent from the high point in 2006 making this an exceptional time to buy a home in this wonderful community. In late October, 2011 there were 13 homes on the market in Steeplechase ranging in price from the high $300,000's to nearly $2 million.

Steeplechase is a gated community in the heart of Palm Beach Gardens with just 324 custom homes, each set on an acre or more of land.  The spaciousness of the lots affords residents the opportunity to have swimming pools, tennis courts, play areas, gardens and exquisite landscaping on their property.   Privacy abounds!

The community is close to major roadways. shopping areas, schools and businesses such as Scripps Institute at Abacoa, downtown Palm Beach Gardens and West Palm Beach office buildings. 

The Weiss-Clawson Team includes a resident expert at Steeplechase.  If you are interested in more information about Steeplechase, or are considering buying or selling a home in Steeplechase, please contact The Weiss-Clawson Team directly.  We look forward to hearing from you and to working with you.

Home prices in the Palm Beach Gardens area country club community of Ironhorse have stabilized in 2011 as sales remain on a brisk pace.

A total of 17 homes sold in Ironhorse from January through the end of October, about the same pace as in 2011.  But prices declined only two percent from 2010.  The average home in Ironhorse sold for $136 per square foot in 2011 compared with $139 per square foot in 2010. 

Of the 17 homes sold so far this year, there were three foreclosures and two short sales.  Distressed properties tend to push property values down throughout a community.  But when they are sold or off the market, values tend to stabilize and can begin to rise.

In Ironhorse there are 23 homes on the market in late October with just one listed as a short sale.

Buyers who have been waiting for Ironhorse home prices to stabilize might find that this period, from October to January before the height of the winter season, is the best time to buy your Ironhorse home.

Ironhorse Country Club is a unique community of just 324 homes set adjacent to the beautiful Loxahatchee Nature Preserve.  The country club is owned separately from the residences so there is no mandatory membership for homeowners.  Yet many of the homes back onto the championship Arthur Hills golf course so owners can benefit from the beautiful open vistas.

The Weiss-Clawson Team includes a resident expert in Ironhorse.  We research communities throughout Palm Beach Gardens and West Palm Beach to provide the most up to date information to our clients. If you are interested in buying or selling a home in Ironhorse or anywhere throughout Palm Beach County, we would like to work with you.  Please contact The Weiss-Clawson Team directly.  We look forward to hearing from you. 

Home prices in the Palm Beach Gardens area country club of Ibis continued to decline through the third quarter of 2011 as sales increased.  This is a mirror image of homes sales and prices throughout Palm Beach County.

Through September, 2011 there were 77 homes sold in Ibis compared with 71 sold during all of 2010.  But prices continue to tumble, a bit faster for homes priced at or below $400,000 than for those in higher price brackets.

Of the 77 homes sold through September, 2011 42 closed at or below $400,000.  The average price for these homes was $88 per square foot, a decline of 35 percent since 2008. There were 35 larger homes priced above $400,000 that sold in Ibis through September.  The average price for these homes was $179 per square foot, a decline of about 20 percent since 2008. 

Throughout Palm Beach County home sales increased in September with 1076 single family homes sold, an increase of 20 percent over September 2010 sales.  But Palm Beach county homes prices plunged to their lowest level of the year in September with the median price of a single family house falling to $180,300. 

If you are considering buying a home in Ibis, but have been waiting on prices, this is probably the time to call your realtor and start a serious search.  The number of homes on the market in Ibis has declined in 2011 compared with 2010 as savvy buyers acquire the best properties.  While there are still more than 160 homes on the market in Ibis, the 2011-2012 winter season is fast approaching and expectations are it will be a stellar selling season. 

The Weiss-Clawson Team researches market trends in many Palm Beach Gardens communities to provide the most up to date information to our clients.  If you are interested in buying or selling a home in Palm Beach Gardens or throughout Palm Beach County, we would like to work with you.  Please contact The Weiss-Clawson Team directly.  We look forward to hearing from you.   

More homes have sold in Palm Beach Gardens premiere estate community of Steeplechase through early August than have sold during any full year since the real estate market downturn in 2006.   But prices in Steeplechase continue to decline due in part to short sales and foreclosures clearing the market.

Eleven homes sold in Steeplechase during the first seven months of 2011.  In 2010 there were 10 homes sold for the entire year and in 2009 just two homes sold.

Prices in Steeplechase continue to decline as short sales and foreclosures are sold.
The distressed properties continue to have a negative impact on values. There are 12 homes on the market in Steeplechase in early August, 2011 with some very good opportunities for buyers.   

Average dollars per square foot for the 11 homes sold is $186, compared with $200/SF for 2010 sales.  But differences are emerging between the larger homes and the smaller ones in Steeplechase.   Homes over 4500 square feet sold for $231/SF while those below brought just $160/SF. The short sale and the foreclosures were all smaller homes.

The Weiss-Clawson Team regularly researches sales and market information in Steeplechase and throughout Palm Beach Gardens and West Palm Beach to provide the most up to date information to our clients.  If you are interested in selling or buying a home in Steeplechase or throughout the area, we would like to work with you.  Please contact The Weiss-Clawson Team directly.   

Sales of single family homes in Palm Beach Gardens and throughout Palm Beach County reached nearly 1200, the fourth consecutive month where sales exceeded 1000 units this year. 

At the same time, the median price of a single family home dropped four percent from May sales and 12 percent from sales of June 2010.

The median price of a single family home sold in Palm Beach County in June was $204,900, according to the Florida Association of Realtors.  In May it was $214,000, but back in March it was only $186,500, the low point for the year so far.

Similarly, prices for condos in Palm Beach County continue to tumble while sales remain brisk.  The median price of a condo in the country was $76,300, about 10 percent lower than prices in May and 20 percent lower than in June 2010.  Condo sales topped 1200 for the fourth consecutive month.

Overall there are more condos being sold in Palm Beach County than single family homes.  Perhaps that is why a snapshot of sales in Palm Beach Gardens through early August shows fully 71% of real estate sold was priced at $300,000 or below.  Just .05 percent of the sales were priced at $1 million or more.

If you are interested in buying a home in the area, it is a very good time to be working with your realtor.  Inventory remains high and prices are low.  There are still a sizeable number of short sales and foreclosures in many communities that are depressing prices.

For sellers it is discouraging to know that their updated, well kept home is competing in price with homes that are abandoned, outdated or messy.  But homes under contract must appraise to market value for the sale to occur. 

Cash buyers should insist on an appraisal contingency in the contract meaning they will pay for an appraisal and if the value of the home comes in lower than the contract price the deal will die or be renegotiated.

Banks financing mortgages require an appraisal.  The bank will lend 80 percent of the appraised value of the home when the buyer provides 20 percent down payment.  If the house appraises lower than the contract price the mortgage will be denied, or the seller must lower the price to meet the appraisal.

The Weiss-Clawson Team regularly researches sales and market information in communities through Palm Beach Gardens and West Palm Beach to provide the most up to date information to our clients.  If you are interested in selling or buying a home in Palm Beach County, we would like to work with you. Please contact The Weiss-Clawson Team directly.    

Prices of homes in two of Palm Beach Gardens upscale country club communities have begun to rebound in the first half of 2011.

Old Marsh and Old Palm, each a small exclusive community with high end club facilities, are seeing prices increase for sales of large executive homes. 

Old Marsh is an older community of about 140 homes in the northwestern portion of Palm Beach Gardens.  From January through June, four homes sold in the community, averaging $367 per square foot, about 30 percent higher than sales throughout 2010.  Homes in Old Marsh are generally priced above $1 million.  There are currently 17 homes on the market in Old Marsh and one is a short sale priced just under $1 million. 

The community has an outstanding clubhouse and golf course well know for its caddies and "no tee time" policy.  Membership at the club is optional for residents of the community.

At Old Palm, prices of larger homes, over 4000 square feet, have increased about 30 percent in the first half of 2011 compared with 2010 sales.  From January through June 2011, there were five homes sold over 4000 square feet and they averaged $461 per square foot.  In all of 2010 just three homes over 4000 square feet sold and they averaged $323 per square foot. 

 Smaller homes in Old Palm also increased in value with two selling in the first half of 2011 averaging $321 per square foot compared with just one selling in 2010 at $269 per square foot. There are about 300 homes built or planned at Old Palm with 24 homes on the market in early July. 

Old Palm is a newer community of about 300 homes located along PGA Boulevard just east of the Turnpike.  It has a world class golf practice facility adjacent to its single golf course.  Membership in the club is optional for residents.

The Weiss-Clawson Team researches market trends and prices in most Palm Beach Gardens communities and many Palm Beach County communities to provide the most up to date information for our clients.  If you are interested in buying or selling a home in Palm Beach Gardens or anywhere throughout Palm Beach County, we would like to work with you.  Please contact The Weiss-Clawson Team directly.  We look forward to hearing from you and to working with you. 

Prices of both single family homes and condos in Palm Beach Gardens and throughout Palm Beach County jumped in May to reach the highest point yet seen in 2011.

At the same time, sales remain brisk at about the level they were in April, but significantly higher than in May, 2010.

While optimism abounds about whether these numbers signal a bottoming of the real estate market in Palm Beach County, it is truly too early to know for sure.  However, if you area a buyer hoping to catch the bottom of the market, this could be the time to get serious. 

The median price of a single family home in Palm Beach County climbed to $214,100, fully seven percent higher than in April and 10 percent higher than in January.  Volume of sales were 1115 in May compared with 1112 in April and 887 a year ago, according to statistics released today by Florida Realtors.

The median price of a condo in Palm Beach County rose to $85,200, four percent higher than in April but 11 percent above January's median price.  There were 1227 condos sold in Palm Beach County in May compared with 1338 sold in April.

The Weiss-Clawson Team researches real estate market trends in Palm Beach Gardens and throughout Palm Beach County to provide the most up to date information to our clients.  While the numbers cited here reflect county-wide statistics, we have market information about most communities in Palm Beach Gardens and many throughout Palm Beach County.

If you are interested in buying or selling a home in Palm Beach County, we would like to help you.  Please contact The Weiss-Clawson Team directly.  We look forward to hearing from you and to working with you.