Dear Potential Buyers, Sellers, Clients, and dear Friends,
We hope you are happy, healthy, and enjoying a wonderful summer with your friends and family! I am delighted to have had the opportunity to visit clients and friend in New York and Nantucket, which I totally enjoyed. Summer in Palm Beach is delightful too…no crowds, warm but lovely!
Palm Beach is blessed with a strong real estate market, it is so disturbing to see our clients in New York, Connecticut, etc..burdened with the new Millionaires tax; for example a 2% added tax on the closing statement if you are selling in New York City. Other clients in Connecticut, for example… are selling their properties at sometimes less than 1/2 of what they paid for them, one client has the most magnificent home in Connecticut, which she has just received an offer of $2.3 million for a home she paid $6 million for…it is truly a travesty.
Contact us to purchase your Palm Beach Slice of Paradise. Palm Beach Properties have held their value, buyers are fleeing high tax states to take advantage of Florida’s beneficial Tax laws… No Estate Tax, No Inheritance Tax, No Income Tax, No State Tax, No Millionaires Tax. Palm Beach is Heaven! Fabulous lifestyle, wonderful town, friendly people, safe and secure with an outstanding Police Force/ Fire Department ready to help… Not to mention, the wonderful restaurants, shopping, golf courses, and the gorgeous Atlantic Ocean surrounding us!
According to the Palm Beach Daily News, Darryl Hoffheinz.. there have been many off market sales, not recorded in the MLS. These sales are incredible… Excerpt of report below:
“July in Palm Beach has been a scorcher as far as real estate sales go.
Add this week’s reported $16.1 million sale at 125 Via Del Lago to seven others recorded since July 1 at the Palm Beach County Courthouse, and the grand total of house-sale prices exceeds — brace yourself — $271.77 million. And of that total, $135 million was generated by a couple of off-market deals for properties that weren’t marketed in the multiple listing service.
No wonder real estate observers have been busy wiping their foreheads. And they are asking what might lay ahead, if off-market deals said to be simmering come to fruition.
Crystal-ball gazing is one thing. But those who want to take a look behind them — and who enjoy crunching numbers — might consider perusing the just-released sales reports covering April, May and June.
The second quarter lumbered to a halt just as the pile-up of big sales began. So in comparison with the gang-buster month underway, the second-quarter figures are, well, pretty dull.
As usual, the reports prepared or commissioned by agencies that do business on the island use different criteria to measure sales performance. At least one of the reports, for instance, factored in the record-setting $105 million sale of the late Terry Allen Kramer’s estate at 1295 S. Ocean Blvd. That off-market deal reportedly closed June 28 but wasn’t recorded at the courthouse until July.”Read the entire story here.
Please find our Second Quarter Market Report Below, this report is complied from the reported dated to the Palm Beach Board of Realtors, MLS Services.
Highest priced per sq.ft. 980 N Ocean Blvd – $2,377
Lowest priced per sq.ft. 218 Debra Lane – $596
Average price: $4,399,142 – Average per sq.ft. $978
Highest priced per sq.ft. 130 Chilean Ave – $1,351
Lowest priced per sq.ft. 232 Cocoanut Row – $728
Average price: $5,283,581 – Average per sq.ft. $1,105
Highest priced per sq.ft. 577 S County Rd – $1,296
Lowest priced per sq.ft. 112 Kings Rd – $965
Highest priced per sq. ft. 100 Sunrise Ave #503 – $1,846
CLICK HERE FOR FULL MARKET REPORT Please note that the report does not include off market private sales, or any sale not reported to the Palm Beach MLS Service.
Thinking about Buying or Selling in Palm Beach…Contact us for Expertise you can Trust!!