Joseph Santini's Real Estate Blog

Happy Thanksgiving from Boca Raton, Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 25 Nov 2009 05:50:50 -0600

What a nice time to be in Boca Raton, Florida as people are coming down to start their nice warm winters. The supermarkets are full as people prepare to have some nice family time and recognize all the things they are thankful for. Have a safe and Happy Thanksgiving.

South Florida is Always a Great Buy!

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 23 Nov 2009 12:16:57 -0600

At the end of the day South Florida will always be a great buy. The reason for this is very simple. The weather. No where else can you find a winter like this in the United States while maintaining such a close distance to cities like New York or Chicago. So unless the sun stops coming out you can feel good about finding a nice property and buying it right! You will be glad you did.

Banks and Loan Modifications

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Fri, 20 Nov 2009 07:31:36 -0600

Talking to many customers and attorneys here in South Florida and New York I hear the same thing over and over. Loan modifications are not being given. It seems that in most cases after jumping through hoops to satisfy the bank with their requests that the answer to the homeowner is just about always no. Now I'm sure there are many people who just don't qualify but I wonder how many mods really could be done if the banks had a reason to do them? Probably alot.

This is important because foreclosures destroy families and neighborhoods and anything that can be done to stop them is worth doing. There has to be some way to get the banks excited about doing loan modifications for the people who qualify for them.

Properties Are Selling Everyday!

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 18 Nov 2009 09:57:52 -0600

There are many obstacles to getting a piece of property sold these days. Such things as low appraisals, tight money and nervous buyers. These things tend to slow everything down and cause alot of stress for the sellers and all involved in the deal.

The bottom line is that properties are selling everyday and with the correct frame of mind most things can be worked out. If the seller wants to sell and the buyer wants to buy everything is possible.

Ask the buyer who closed on a great deal yesterday or the seller who just closed for a fair price today and they will tell you that the market is what it is and we got the most out of it as we could!

Palm Beach County Market Report October 2009

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 16 Nov 2009 11:33:44 -0600

Properties are changing hands everyday and inventory is decreasing across Palm Beach County, Florida. The low prices and low interest rates continue to drive the market. When properties are priced correctly they are selling. Things should pick up even more now that people from other parts of the country are arriving here for a nice winter. Below are the numbers for Palm Beach County for the month of October, 2009.

Total Properties Available 22,428

Total Properties Pending 2,750

Total Properties Sold 1,698

Average Temperature and Rainfall for Boca Raton, Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Fri, 13 Nov 2009 13:30:48 -0600

What a great day today in Boca Raton, Florida. We had a little cold front blow in to cool us off and the weather could not be better! 73 degrees and sunny with low humidity. No wonder so many people make their second home here. Why fight the winter? Boca Raton is true paradise. Below is the average temperature and rainfall for Boca.

Month Temperature Rainfall/Inches

January 75 2.5

February 76 2.9

March 78 2.9

April 84 2.9

May 86 6.7

June 88 8.0

July 91 6.0

August 91 6.6

September 90 7.3

October 86 7.6

November 81 3.5

December 77 2.3

Happy Veterans Day in Boca Raton

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 11 Nov 2009 11:51:34 -0600

Happy Veterans Day to all the veterans who have served us and given up a part or all of their lives for all of us. There will be a concert tonight in observance of Veterans Day at the Mizner Park Amphitheater in downtown Boca Raton at 7pm. Say thank you to a veteran today.

Tax Credit Gets Extended

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 09 Nov 2009 10:06:27 -0600

The tax credit which has been really working well has officially been extended to April 30, 2010. It also has been extended to all homeowners. Homeowners who are not first time buyers but have lived in their home for 5 out of the last 8 years are eligible for a tax credit of $6,500. The income requirements have also changed. Now you can received the credit as long as you make under $125k if you are single and under $225k for married couples.

Your Property is a Commodity

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Fri, 06 Nov 2009 08:19:41 -0600

Many times when I go on a listing appointment I hear the property owner tell me that they need a certain amount of money for their property because they need the proceeds for their next home or some other endeavor. Regardless what the market will bear they feel strongly about receiving a set amount of money. They somehow feel that they will somehow get it because their home is extra special.

Though their home may be very special to them its the market that will set the price for it. Regardless of how much money we need, like any other commodity such as gasoline, oil, or even lobster, the market will set the price.

When you sell a stock that is trading for $100 per share you couldn't call your stockbroker and tell him to sell yours for $150 per share because you need the money. Selling real estate is the same way.

List it Right - Sell it Fast

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 04 Nov 2009 09:10:05 -0600

In this market you must list your property right to sell it fast. Below are some tips on how to list your property right so you are not watching every property in the neighborhood sell except yours.

1. Hire a good hard working Realtor.

2. Price it correctly regardless of how much it hurts.

4. Use a complete marketing system. Print, Internet, Word of Mouth, etc.

5. Superior Photography.

6. Professional Vitual Tour.

7. Never, ever miss a showing.

Boca Raton, Florida Luxury Property Market Report October 2009

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 02 Nov 2009 10:54:21 -0600

The luxury single family home market continues to be busy as buyers are getting some great deals especially on the water. The condo market over $1,000,000 continues to be slow though there is activity. People don't necessarily have to buy a condo right now in that price range for a second residence. Unlike the homes where in most cases it will be their primary residence. As we enter the high season everything should get busier. Below are the numbers for all properties in Boca Raton priced over $1,000,000 for October 2009.

Luxury Single Family Homes

Total Properties Available 513

Price Range $1,000,000 - $24,900,000

Total Properties Pending 13

Total Properties Sold 15

Price Range $2,813,000 - $1,116,500

Average Price Per Sq. Ft. $331

Luxury Condominiums

Total Properties Available 101

Price Range $1,000,000 - $7,250,000

Total Properties Pending 1

Total Properties Sold 1

Happy Halloween in Boca Raton, Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Fri, 30 Oct 2009 15:19:00 -0500

Boca Raton is a great place to be for Halloween. The children will be out trick or treating in a nice safe environment and the weather will be perfect as always. There are many activities to do around town or you can just go to the mall and spend some time in there which is great if you have small children. Have a nice and safe Halloween.

Extending The $8,000 Tax Credit

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 28 Oct 2009 09:17:16 -0500

The $8,000 tax credit program currently in effect is really working and helping many people buy homes. Many customers I speak with throughout the day are in the market only because of this tax benefit. The numbers don't lie. People are closing on homes directly because of this program.

This is probably the best Government program out there right now that gives the country the most benefit everytime someone uses it.

Right now it looks like it will be extended to March 2010 and then slowly be fazed out by reducing the amount of the credit until its gone in December 2010. With something working this well Washington should open this up to all home buyers and even raise the amount. With all the money that is spent trying to help the economy this should be a no brainer. Nothing will get the country back on track until the real estate market is where it needs to be.

Should I Buy A Home With A Pool In Florida?

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 26 Oct 2009 11:04:27 -0500

People have different opinions when it comes to buying a home with a pool and everyone has different needs. Even though maintaining a pool is simple, it does take time and it does cost money. Figure on spending about $60 per month plus any extra chemicals you may need if you hire a pool service here in Boca Raton, Florida. This maintenance is very easy to do yourself if you live here full time. There is also a cost for the electricity for the pump.

The nice thing about having a pool is that it will keep your backyard much cooler and even if you don't swim alot it is very nice to look at all year long when you live in a warm climate.

Top Ten Reasons to Live in Boca Raton, Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Fri, 23 Oct 2009 08:56:00 -0500

There is no place like Boca Raton, Florida and here are ten great reasons to call it your home!

1. Beautiful, Sunny Weather.

2. Easy access to fine dining, shopping and popular recreation destinations.

3. Superior Air Quality.

4. A Great environment for kids.

5. Great activities all year long for everyone from adults to children.

6. The Boca Raton Police Department makes it one of the safest places to live in the country.

7. Great Schools.

8. The beautiful Atlantic Ocean is just steps away.

9. One of the Best managed cities in the country.

10. Reasonable taxes.

Local Markets Are Different Around South Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 21 Oct 2009 09:48:48 -0500

As I speak with many customers around the world I see that many of them only have information that they get from their local news station which quite often does not paint an accurate picture of what the market is currently like here in Boca Raton.

The problem is that when a local news station does a story on real estate in South Florida they usually are talking about Miami or West Palm Beach and people hearing it do not realize that those two markets are very different than Boca Raton and many other South Florida communities.

We don't have empty buildings here where half the building has stopped making their maintenance payments and we don't have beautiful buildings that have turned into rental communities because of the numbers of investor owned units.

The Boca Raton area is very stable mainly because we were not saturated with many new buildings being built at the same time. West Palm Beach and the Miami area will recover but on a much different time frame than Boca Raton where the market appears to be getting busy.

Palm Beach County, Florida Market Report October 2009

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 19 Oct 2009 10:16:01 -0500

Things are busy across Palm Beach County as inventory continues to decline and buyers become more and more comfortable buying. Cheap money, low prices and a good selection continue to drive the market. Now is the time to buy! Below are the numbers for Palm Beach County for the past 30 days.

Total Properties Available 22,305

Total Properties Pending 2,766

Total Properties Sold 1643

200 East - 3 Bedroom - Ultra Luxury Building!

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Thu, 15 Oct 2009 09:48:18 -0500

This 3 Bedroom 3.5 Bath Mizner floor plan is located in the Ultra Luxury 200 East in beautiful downtown Boca Raton. The building is slowly becoming the place to live in Boca. This apartment features a fantastic layout with 2490 square ft. under air and is in a great part of the building!

While living here you will enjoy all the benefits of living downtown as well as everything this full service building offers including valet, fitness center, concierge, smart-panel systems and a beautiful, tropical pool area. Walk to Mizner Park and Royal Palm Place for shopping and dining!

The Time Is Now

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 14 Oct 2009 10:01:40 -0500

Prices seem to be stabilizing here in Boca Raton and while running the comps for several communities the numbers have really improved. Serious buyers are really taking advantage of the low interest rates and the current market conditions to secure their piece of what looks like the last part of one of the best buyers markets in history. Most people feel very comfortable buying at this time.

Buyers who are still on the fence should realize the time to act is now as market conditions are improving and as the inventory declines things will be much more balanced between the buyers and the sellers.

Termites - What You Should Know

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 12 Oct 2009 09:55:29 -0500

Termites have the ability to cause a tremendous amount of damage to a home and they do. These little pests cause over $4 billion dollars worth of damage to homes in the US every year. The worst thing about them is that they do this and most of the time you don't even know its happening until a good amount of damage has already been done. Termites can eat away at your structure for years before you even see any signs of it.

The best defense is to prevent them from coming around in the first place. Below are some tips to do just that.

1. Keep mulch, firewood and wood chips away from the home.

2. Make sure all plants and shrubs do not touch the home and that all vents are clear.

3. Keep all moisture out. Make sure all rain is draining away from the structure.

4. Make sure all crawlspaces are well ventilated

5. Keep all old wood well away from the home.

6. Fill all gaps and cracks around the exterior of your home. Make it hard for them to enter.

The Beresford - Boca Raton, Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Fri, 09 Oct 2009 09:31:06 -0500

The Beresford features 53 apartments and is located directly on the sand not far from Palmetto Park Rd. in beautiful Boca Raton. This building offers stunning ocean to intracoastal views and impact glass on the exterior. You'll enjoy the tropical pool area and there is boat dockage available on Lake Boca Raton. You will feel right at home in one of Boca's premier boutique buildings.

The Aragon - Boca Raton, Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 07 Oct 2009 11:45:03 -0500

The Aragon is one of Boca's most well known super luxury buildings with a unique look that provides its residents with a very upscale living environment. Starting in the 2 million dollar range these units offer unique floor plans with impressive views of the ocean as well as Lake Boca Raton. No expense has been spared. This full service building features a state of the art fitness center, fantastic club room, valet parking and a concierge. The building has 41 large unique apartments.

Beach Walk East - 3 Bedroom Seasonal Rental - Highland Beach, Florida

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Mon, 05 Oct 2009 11:06:18 -0500

COMPLETELY RENOVATED 3 BEDROOM ON THE SAND! BEAUTIFULLY FURNISHED, FOUR FLAT SCREEN TV'S, NINE FT. CEILINGS, TWO BALCONIES, SPECTACULAR VIEWS!

BEACH WALK EAST IS AN UPSCALE BOUTIQUE BUILDING RIGHT ON THE SAND IN HIGHLAND BEACH WITH A TOTALLY UPDATED LOBBY! SPEND YOUR WINTER IN LUXURY AS YOU ENJOY THE ULTIMATE LIFESTYLE.

Boca Raton, Florida Luxury Market Report September 2009

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Fri, 02 Oct 2009 11:01:36 -0500

As the summer fades away and we head into the strong selling season activity is good as people continue to buy up the inventory. We expect the winter months to be very busy with lots of buyers in town. Here are the numbers for the past thirty days for luxury properties priced at one million dollars and above.

Luxury Single Family Homes

Properties on the Market 511

Price Range $1,000,000 to $24,000,000

Properties Pending 19

Properties Sold 6

Price Range $1,060,000 to $4,750,000

Average Days on Market 118

Average Sold Price Per Square Ft. $315

Luxury Condominiums

Properties on the Market 92

Price Range $1,000,000 to $7,950,000

Properties Pending 1

Proerties Sold 1

Sold Price $3,125,000

Save the Downtown Boca Raton Post Office

Joseph Santini, P.A. (Mizner Grande Realty, Inc.) — Wed, 30 Sep 2009 09:28:38 -0500

With so many things being cut these days unfortunately our nice little Post Office has been put up for consideration to close. This Post Office is not only important for the residents of East Boca to get their mail processed its also a very important part of the downtown atmosphere. Please follow the link below to help save our Post Office from being the subject of budget cuts.

http://www.ci.boca-raton.fl.us/SavePostOffice.shtm