Delray Beach and Boca Raton Real Estate and Homes for Sale

Watch as Jeff and Dave, the founders of YourDelrayBoca.com, give you their take on the local real estate market:

There is no more dynamic real estate market in the U.S. than Boca-Delray.

From oceanfront mansions and historic homes to picturesque country clubs and subdivisions the market is vibrant, the choices are endless and the neighborhoods varied depending on age range, price and taste. The area features everything from old Florida to the most modern downtown condo’s and townhomes.

You are sure to find exactly what you want in these two world-class cities.

Buying or selling in the Delray-Boca area and need a recommendation? We can help. Learn more here.

10 March, 2014 0 Comments

Woodfield Country Club Announces Major Renovations

March 10, 2014 By David Reeves Leave a Comment

Woodfield Country Club in Boca is getting a $23.7 million makeover.

Woodfield Country Club, one of the area’s premier residential communities with world-class resort amenities, has announced a $23.75 million renovation plan that will begin in 2015 and continue for approximately two-three years.

Architectural plans and timetables will be finalized this year with construction to begin in early 2015.

“We have been successful in bringing an attractive and affordable plan to the membership that will enhance the resort-style experience,” said Eben Molloy, General Manager of Woodfield Country Club.

“Maintaining our position as the premier family country club in the fiercely competitive local marketplace involves continually investing in our club and evolving to meet the needs of current and future members.”

Woodfield’s home sales have increased annually in recent years, a trend indicating that the community is meeting the needs of home buyers seeking year-round, family-oriented lifestyles, according to Molloy.

“Our ability to attract families and those seeking a vibrant lifestyle sets us apart from many other country club communities,” added Molloy. “The planned improvements are the direct result of input from our members. There is a combination of renovations that appeal to children as well as adults.

“This diversity is what has established Woodfield as the premier family country club in Boca Raton.”

The Long Range Plan was developed in 2011 after surveying members and ranking projects by importance. It was approved by the members in December 2013.

“Our goal was to get support from our members,” said Molloy. “We accomplished this by asking for their input and incorporating their suggestions into the plan. As a result, our members understand the financial aspects as well as the timeframes for this ambitious plan that will enhance the country club experience at Woodfield.”

The plan involves new and expanded card rooms, an interior design refresh in the main clubhouse and dining areas, along with an overhaul of the fitness, aquatics, poolside dining and child care areas. A major addition is a new building and play area for the exclusive use of younger members.

“So many of our members have children,” said Molloy. “We are improving an already outstanding and safe amenity for young children and teenagers.”

The outdoor playground and kids pools with such interactive features as splash pad and aquatic playground, will be centrally located in one area next to the new Kids Korner building. The Kids Korner building will include a child care area for younger children as well as a dedicated teen area with pool tables, video games, air hockey, and much more.

Other significant improvements include the addition of a lap pool, a zero entry resort-like swimming pool, and new a poolside dining venue. The renovation will also feature an expanded workout facility and larger high end salon. Additionally, the golf practice area will receive improvements such as an enhanced practice area and teaching facilities.

“Woodfield is a young, vibrant community,” added Molloy, “and it’s refreshing and encouraging to see that the members support a well-planned future for their club and are enthusiastic about re-investing in their community.”

About Woodfield Country Club

Woodfield Country Club is a family-oriented social and recreational full-service equity country club featuring a wide range of residential selections and world-class, resort-style amenities.

The country club features an 18-hole championship golf course, nationally recognized tennis program, a fitness and salon/spa complex, and an array of casual and fine dining opportunities.

For more information on Woodfield Country Club, visit www.woodfield.org or call 561-994-5203.

24 February, 2014 0 Comments

Real Estate Monday: Florida Market Strong

February 24, 2014 By Jeff Perlman Leave a Comment

Florida Association of Realtors President Sherri Meadows is bullish on the market.

Florida’s housing market reported more closed sales, higher median prices, more new listings, fewer days on the market and the continued stabilization of inventory in January, according to the latest housing data released by Florida Realtors®. Closed sales of single-family homes statewide totaled 15,000 last month, up 10.2 percent over the January 2013 figure.

“Price increases are continuing to improve home equity in areas across the state, and combined with still-low interest rates, it’s creating a great opportunity for sellers,” said 2014 Florida Realtors® President Sherri Meadows, CEO and team leader, Keller Williams, with market centers in Gainesville, Ocala and the Villages. “We’re seeing homeowners ready to take that next step and list their properties for sale: Statewide, new listings for single-family homes in January rose 13.8 percent year-over-year, while new townhouse-condo listings rose 7.4 percent.

“And here at the start of a new year, January marked 26 consecutive months that we’ve seen increases in statewide median sales prices for both single family homes and town home-condo properties, year-over-year.”

The statewide median sales price for single-family existing homes last month was $162,500, up 12.1 percent from the previous year, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in January was $131,000, up 17 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.

Locally, Palm Beach County real estate is also posting positive numbers. Median home prices in Palm Beach County are 17 percent higher than last year, rising from $218,000 to $255,000. Home sales are up 5 percent over last year’s numbers rising from 965 sales in January 2013 to 1,014 in 2014.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in December 2013 was $197,900, up 9.8 percent from the previous year; the national median existing condo price was $198,600.In California, the statewide median sales price for single-family existing homes in December was $438,040; in Massachusetts, it was $320,000; in Maryland, it was $255,183; and in New York, it was $236,875.

Looking at Florida’s townhome-condo market, statewide closed sales totaled 7,377 last month, up 9.3 percent compared to January 2013. The closed sales data reflected fewer short sales in January: Traditional sales in Florida rose 20.4 percent for single-family homes and 16.9 percent for condo-townhome properties. Closed sales typically occur 30 to 90 days after sales contracts are written.

“The figures released this month are characteristic of a market that has reached balance,” said Florida Realtors Chief Economist Dr. John Tuccillo. “While sales and prices continue to rise, the most striking characteristic of the market is the stability of inventory as measured in months. It appears that the rate at which properties are coming on the market is closely matched by sales. In addition, rising prices have cut down on the availability of short sales and these have been dropping consistently.”

Inventory was at a 5.6-months’ supply in January for single-family homes and at a 6-months’ supply for townhouse-condo properties, according to Florida Realtors.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.43 percent in January 2014, up from the 3.41 percent average recorded during the same month a year earlier.

27 January, 2014 0 Comments

Real Estate Monday: Old, New Homes A Market Opportunity

January 27, 2014 By Jeff Perlman Leave a Comment

“New Old” homes like the Winslow are becoming a trend

My first car was a semi-rusty 1966 candy apple red Ford Mustang.
It was 1980 and I think I paid $600 for a car that had poor brakes, a balky transmission, no A/C, no seat belts and more bondo than paint.
I loved the car.
Because despite its flaws, it maintained its pony car charm and beauty.
I’ve often wondered why American automakers didn’t capitalize on Baby Boomer sentiments and issue a series of “replicars” that would allow the AARP set to relive their youth but with the benefit of today’s fuel efficiency and technological wizardry.
I’d buy a classic Mustang or Camaro again if they included little conveniences like power windows, decent brakes and safety features like air bags.
There must be a reason that it can’t be done, because I’m pretty sure those old classic designs would sell.
That’s why I was intrigued when I saw an article in Saturday’s Wall Street Journal entitled “Looking for a New Old House?”
The Journal wrote about a new trend in which today’s homebuyers, fed up by McMansions are flocking to homes that look “historic” on the outside but feature walk-in closets and modern kitchens within.
In communities throughout the country, architects and home builders are building new Greek Revival farmhouses and Craftsman bungalows that have the architectural integrity that seems lacking in so many McMansions today.
Architects and designers are perusing books from the early 1900s and late 1800s to gather ideas and make sure that their designs are as authentic as possible.
And buyers are gobbling up the new, “old” houses, which feature modern day amenities such as large closets, modern day plumbing, central air and higher ceilings.
The Bungalow Company in Bend, Oregon is doing big business selling plans for “new, old homes” and architects from coast to coast are embracing the concept.
So it occurred to me that a Florida builder might strike gold if he or she began to specialize in new, old design.
Because while Delray and Boca Raton have rich architectural traditions– with greats like Sam Ogren Sr. and Addison Mizner playing large roles in Boca/Delray’s history–Florida as a whole and too much of Boca and Delray have given way to cookie-cutter design.
I happen to live in a neighborhood of “tract” housing. And while I love my neighborhood and it is beginning to gain some character as it ages, my guess is lots of buyers would be attracted to more design and less cookie cutter.
I know plenty of people who love spending their weekends fixing up older homes and those people are to be commended for preserving local treasures. Next time you are out and about, take a close look at some of the older homes in Delray’s Marina and Old School Square Historic Arts districts or Boca’s Old Floresta–you can’t help but fall in love.
But for some the constant repairs and cash calls make owning an older home hip but challenging. Wouldn’t it be nice to own a new, old home?
So if you are an enterprising builder reading this blog–give it some thought.
You’d sure stand out in the South Florida market.

8 January, 2014 0 Comments

Water Cooler Wednesday: Sobering Thoughts

January 8, 2014 By David Reeves Leave a Comment

After months of vibrant home sales nationwide, the National Association of Realtors came out with some sobering news this week. The sales of homes continued to slow in November, marking the third straight month of this trend.

And, while here at www.yourdelrayboca.com we’re not predicting, nor are we hoping for this trend to continue it may be time to consider why this is happening.

Some of the obvious reasons are the continuing increase in interest rates. There is also a tight and very limited supply of homes on the market, and it is still difficult for individuals with marginal credit scores to get a mortgage.

We’ve also heard on the street that banks continue to have “shadow inventory,” which refers to homes that are in various stages of the foreclosure process. Once they hit the market, expect the prices of homes to decrease due to increased inventory.

There have also been reports that foreclosures are decreasing. Some have said this decrease is simply because the courts are dismissing many cases due to “lack of prosecution.” They won’t appear “active” until they are re-filed. Keep in mind that banks may be delaying foreclosure proceedings because they don’t want the burden of taxes, insurance, and assessments.

These are just some of the factors that could jeopardize a true real estate recovery. But, then again, if banks release these homes to the market, the good news is that home buyers may get a break in terms of lower prices.

What are your thoughts on this? Is the decrease in volume of sales just a blip or does it represent a trend leading to concern?

6 January, 2014 0 Comments

We’re Back: Real Estate Monday Reports Rising Values

January 6, 2014 By Jeff Perlman Leave a Comment

South Florida home values were up in 2013,

Happy 2014!

Dave and I are tanned, rested and back from a few weeks of r&r. We hope you had a happy and safe holiday season.

With the rest of the country in a deep freeze, we wake up to balmy temps (at least until this afternoon) and offer you this post on real estate trends. But stats aside, you have to think that our friends in the Midwest and northeast are starting to think about that move to South Florida. While Florida did not pass New York for third most populous state last week, we remain in hot pursuit of the Empire State and predict the next update from the Census Bureau will put us ahead of New York. For some that’s good news. They equate growth with prosperity. For others, they worry about traffic, etc. We err on the side of wanting to share our tropical paradise with those who want out of the cold weather.

Enjoy our first post of the New Year.

Homes nationwide are expected to gain almost $1.9 trillion in cumulative value in 2013, the second consecutive annual gain and the largest since 2005, according to an analysis of Zillow® Real Estate Market Reports.

South Florida homes have increased $83.3 billion in cumulative value, according to Zillow, ranking the region fourth in the U.S. in appreciation behind Los Angeles, San Francisco and New York.

Gains were calculated by measuring the difference between cumulative home values as of the end of 2012 and anticipated cumulative home values at the end of 2013. The overall value of all homes in the U.S. at the end of 2013 was expected to be approximately $25.7 trillion, up 7.9 percent from the end of 2012. Last year, cumulative home values rose 3.9 percent from 2011.

The gain in cumulative home values is the second annual gain in a row, after home values fell every year from 2007 through 2011. Between 2007 and 2011, the total value of the U.S. housing stock fell by $6.3 trillion. Over the past two years, U.S. homes have gained back $2.8 trillion, or about 44% of the total value lost during the recession.

“In 2013, the housing market continued to build on the positive momentum that began in 2012, after the housing market bottomed. Low mortgage rates and an improving economy helped bring buyers into the market, boosting demand and driving prices up,” said Zillow Chief Economist Stan Humphries. “We expect these gains to continue into next year, though at a slower pace. The housing market is transitioning away from the robust bounce off the bottom we’ve been seeing, toward a more sustainable, healthier market. This will result in annual appreciation closer to historic norms of between 3 percent and 5 percent.”

Almost 90 percent of the 485 total metro areas analyzed nationwide experienced home value gains in 2013. Of the 30 largest metros, those with the largest gains in overall value as measured by total dollar volume include Los Angeles ($323.1 billion), San Francisco ($159.2 billion), New York ($123.1 billion), South Florida ($83.3 billion) and San Diego ($71.5 billion).

16 December, 2013 0 Comments

Gentrification: A National Trend With Local Examples

December 16, 2013 By Jeff Perlman Leave a Comment

Sofa is one of several projects on the drawing boards in Delray

Gentrification is back.
So declared The Wall Street Journal today in a piece that talked about neighborhoods across the nation that are spiking in value as the housing market recovers.
According to the Journal, there is a cultural shift taking place in which people are flocking to walkable, urban neighborhoods where they can access retail, dining and cultural amenities unavailable in the suburbs.
Locally, downtown Delray Beach has been hot for awhile now, but for many years there was a lull in development downtown, especially residential development.
But recent projects including SOFA, Uptown, The Strand and Atlantic Crossing indicate a strong desire in the marketplace for downtown living.
Some residents are concerned about the number of units being added, fearing traffic, noise and a change to the “village by the sea” ambience that Delray has been known for.
Others don’t mind the new development but worry about the mix, saying that projects should be owner-occupied, not rentals and that developers should shun efficiency and one-bedroom units and aim for couples and empty-nesters rather than young singles.
“I am very interested in finding a unit downtown,” says Ryan Carr, a recent transplant from Maryland. “But I really don’t want to live in a Melrose Place type of situation with a lot of young people interested in partying on the avenue for a few years. I’d like to find a place where people own and will settle in and really make Delray Beach a long term home.”
Supporters of downtown housing say they don’t worry about traffic because urban dwellers want to live in a place where they don’t need or use their cars much.
“The whole idea of living downtown is not to drive,” says Sabrina Lebeau, who is renting this winter with the intention of finding a place downtown for a permanent home. “I love seeing the bikes, the golf carts and the trolleys and Downtowner. That’s the lifestyle that I’m seeking. And if I use a car, it will be for short trips to Publix or the pharmacy. I want to live in walking distance to shops, the beach and restaurants.”
Downtown Boca Raton is also beginning to take shape.
Mizner Park has a very lively restaurant and retail scene and east Boca is rife with amenities attractive to urban dwellers from boutiques and organic markets to concerts and downtown exercise classes.
But what about local emerging neighborhoods?
Local experts say all of east Boca is hot right now and in Delray locals are keeping a close watch on “south of the ave” where developers such as Related are making big bets.
Here’s what the Journal says to watch for to determine whether an area is gentrifying:
Median Household incomes are rising
Home values are appreciating faster than the city on average
Government is investing in local infrastructure
Has a dense, urban population
Is located near job centers
Has a strong retail base
Has an older, attractive housing stock
Home renovations are common.

2 December, 2013 0 Comments
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Real Estate in Boca Delray Booming

December 2, 2013 By Jeff Perlman Leave a Comment
The Lake Ida neighborhood in Delray is popular among buyers. The neighborhood is known for its park and proximity to all that’s happening in Delray.

Based on the news and the buzz it sure seems like real estate is booming these days.

In Boca and Delray, both residential and commercial sales are roaring with some eye popping prices being paid by investors and end users eager to drink from a punch bowl that was dry for years. Or since 2007 to be exact.

In Delray, the Lake Ida neighborhood is sizzling with lot prices hitting $500,000 in some prime locations.

The appeal? Large lots, eclectic home designs and easy access to the downtown and beach.

But even out west, where the Delray Marketplace has become a major draw, new construction and re-sales are sizzling with GL Homes once again leading the way with its popular “The Bridges” project.

According to the real estate site Trulia, the average price per square foot for single family homes in Delray are $121, an increase of 5.2% compared to the same period last year. Compared to the same period one year ago, the median home sales price increased 8.5%, or $10,000, and the number of home sales increased 1.6%.

But wait, it gets better.

The average listing price for homes for sale in Delray Beach was a whopping $587,294 for the week ending Nov. 20, which actually represents a decrease of 0.5%, or $3,021, compared to the prior week, according to Trulia.

Zillow, another real estate site, reports slightly different numbers but strong results as well.

According to Zillow, home values are up nearly 15 percent from a year ago in Delray.

Boca’s numbers are even stronger.

Average price per square foot for Boca Raton is $151, an increase of 13.5% compared to the same period last year, says Trulia. Compared to the same period one year ago, the median home sales price increased 20.4%, or $38,500, and the number of home sales decreased 0.3. The average listing price for homes for sale in Boca Raton was $770,587 for the week ending Nov. 20, which represents an increase of 2%, or $15,161, compared to the prior week.

Zillow reports that Boca’s home values are up nearly 18 percent from a year ago.

Hot neighborhoods in Boca: Boca Del Mar, Boca Pointe, Mission Bay and Whisper Walk.

Commercial properties are also in demand.

Local real estate pro’s are reporting heavy sales activity along Delray’s Federal Highway and south of Atlantic Avenue. Another hot area is near the new “Artist’s Alley” near Third Avenue and Third Street.

East Boca is also reporting strong commercial interest.

Another trend to watch is the proliferation of multi-family projects.

The Wall Street Journal recently had a front page story on the Miami condo tower market, which expects to add over 12,000 new units in the next few years.

But lost in the amazing Miami comeback story—fueled by foreign investors gobbling up downtown condo’s—are even more dramatic numbers north of Miami in Broward and Palm Beach Counties.

An astounding 70 percent of residential construction permits issued through October have been for multi-family projects in Broward and Palm Beach.

Overall in South Florida, at least 172 new condo towers with more than 22,500 units are proposed, planned, under construction, or recently completed in the tri-county South Florida region of Miami-Dade, Broward, and Palm Beach as of October 11, 2013, according to the Preconstruction Condo Projects Database™ compiled by the licensed Florida brokerage CVR Realty™.

18 November, 2013 2 2 Comments
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Real Estate Focus: Millpond A Boca Classic

November 18, 2013 By David Reeves 2 Comments
Towering oaks and meandering paths set Millpond apart

As one of Boca Raton’s premier developers, the now-defunct Arvida Corporation became synonymous with quality real estate development in the area.

With such signature communities as Broken Sound and Boca West, Arvida certainly put its stamp on the area, beginning in the 1970s.

One of its top communities was Millpond, located between Glades and Yamato roads on St. Andrews Blvd. We at www.yourdelrayboca.com, we suggest you take a look at this community. It is ideal for families and the retired who are seeking an active lifestyle.

This tree-lined community with meandering pathways and roads features 306 single-family homes that blend seamlessly with the heavily wooded environment. Unlike most brand new communities, Millpond has huge shade trees with sprawling canopies. With a variety of homes, ranging from 1,800 to more than 3,400 square feet, Millpond has retained its value as an enclave with easy access to schools, parks, and privacy that rivals any other neighborhood in the area.

This peaceful, non-gated community has two lakes, a dock, pavilion areas, a scenic footbridge, picnic areas, playgrounds and tennis courts.

Prices in the neighborhood range from the $400,000s to over $500,000.

Other nearby amenities include beaches, Town Center Mall, Spanish River Library, Patch Reef Park, and much more. For more information visit https://www.mymillpond.net/

If you’re thinking about re-locating to the Delray Beach/Boca Raton area, please contact us at dave@yourdelrayboca.com and we’ll recommend the Realtor who is just right for your home search.

4 November, 2013 0 Comments
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Unique Office Project Enlivens US 1

November 4, 2013 By Jeff Perlman Leave a Comment

21 Drops is the anchor tenant for a cool new office project in Delray

We’ve been watching the redevelopment of an old automotive repair shop into an office development on South Federal Highway in Delray Beach.

It’s spectacular.

21 Drops, a Delray Beach aromatherapy oil company, commissioned Richard Jones Architecture to design its new corporate showroom and offices.

The new facility, being developed by Richard Caster, will be a historic restoration of a 1950’s era auto dealership structure originally designed by Sam Ogren; Delray Beach’s first resident architect.

Ogren is a local legend and much of the charm of his original design has been honored by the redevelopment.

When completed the project will apply for national historic designation and will feature 4 office suites,

new facades, parking, sidewalks and completely new interiors.

During a recent open house visitors to the project were wowed by the design, concept and cool features that will be preserved.

Caster’s vision was to modernize the historic charm of the Ogren design.

21 Drops is a promising company run by his wife. The aromatherapy brand has received tremendous publicity in recent months and is poised for national distribution and growth.

The brand was recently featured on NBC’s The Today Show.

Company visionary Cary Caster has a degree in botany and studied aromatherapy in Europe.

She is certified as an advanced clinical aroma-therapist.

As the project progresses, we will report on other new tenants moving into this very unique space.

28 October, 2013 0 Comments
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The Bridges; Captures Delray’s Luxury Lifestyle

October 28, 2013 By Jeff Perlman Leave a Comment
The Palazzo highlights the Empire Collection and lists at $1.6 million

GL Homes has come a long way from its humble beginnings in 1976.

Today, GL Homes is the 13^th largest private homebuilder in the United States. That’s a ranking based on the measure that counts the most: sales. And the bottom line is GL Homes has carved out a reputation among home buyers for sustained excellence.

GL’s reputation is such, that when it announces a new project there’s immediate interest and buzz, especially among those who own or have owned a home in a GL community.

GL Homes’ new community “The Bridges” ( https://www.glhomes.com/the-bridges ) has sparked a lot of word of mouth publicity. Located less than a mile from the new Delray Marketplace, a retail and entertainment center, The Bridges is a high-end luxury product that has earned rave reviews from those who have toured the models.

“It’s absolutely magnificent,” says Fran Goldman, who lives in a GL community in Lake Worth. “They’ve reached a whole new level.”

The Bridges features 21 distinct home designs ranging in size from 2,450 square feet to over 7,506 air conditioned square feet with one- and two-story plans. Luxury features include granite kitchen countertops, Moen sinks, marble bathroom countertops and too many amenities to mention.

In typical fashion, The Bridges includes outstanding community features such as a 17,000 square foot clubhouse, with a large social hall, catering kitchen, yoga studio and fully equipped fitness studio.

The clubhouse will also offer a card salon with poker tables, a gaming room and a children’s center. The poolside bistro will give residents a casual place to grab a snack while enjoying the great outdoors. The resort-style swimming pool and spa will be surrounded by a spacious pool deck and shade cabanas. Children who live at The Bridges will be able to enjoy an aqua lot, wading pool and shaded playground adjacent to a large party pavilion.

Tennis enthusiasts can play in a league, take lessons or just catch a match with friends on The Bridges six Har-Tru courts and One Hard Court, lighted for night play. The lifestyle complex has a Tennis Pro Shop, shaded courtside pavilions and a spectator viewing area.

Prices range from $595,900 to $1,602,900.

The facts:

Office Hours: Open daily 10am – 6pm

Address: 16850 Lyons Road, Delray Beach, FL 33446

Directions: Turnpike or I-95 to Glades Road/Boca Raton. Go west to Lyons Road. Head north on Lyons Road past Clint Moore Road. The Bridges will be on your right.

Phone: (561) 509-5400