Dear Potential Buyers, Sellers, Clients, and Dear Friends,
Labor Day is in the rear view mirror, the wonderful summers in Nantucket, the Hamptons, Capri, and the South of France are fleeting, and Fall is just around the corner! Now is the time everyone “Thinks Palm Beach”. Planning to enjoy the Season, one must prepare our homes, obtain a Seasonal Lease, or think about listing your property if you want to Sell. Palm Beach Real estate is selling, we represented the Buyer of this fabulous Trump Plaza Grand Penthouse, one of only four like units with 12 ft. ceilings, and amazing views. The owners will not be using the unit this year, and it will be available for a 6 month furnished Seasonal Lease, or an annual Lease. Click on this link to preview the unit, contact us if you have an interest in leasing this rare find!
This summer has been unprecedented as it relates to Palm Beach Luxury Sales…According to the Palm Beach Daily News, an article written by Darryl Hoffheinz on August 9, 20119, Palm Beach high-end real estate sales are OFF THE CHARTS!
“Sales often close in Palm Beach during June and July, as house-hunters seal deals after shopping during the season. But this July amped up the stakes. Compare the $347 million in single-family sales that closed in July to the same month of the previous three years: July 2018 saw 14 single-family transactions in Palm Beach totaling $109.36 million, according to courthouse records. In July 2017, that number was $81.49 million for 16 homes. And July 2016 saw a total of $64 million generated by 10 single-family sales.
Analysts have to go back more than a year to find a month in which the official sales total even comes close to the one recorded last month. That would be April 2018 — at the height of the spring selling season — when documented transactions in town totaled about $249.4 million, with 25 single-family sales totaling $194 million and 41 condos adding another $55.4 million.
The sales lull of last season had caught many Palm Beach agents and brokers off guard. They were stunned when transactions practically ground to a halt last fall after nine months of go-go action that began when Congress passed the federal tax overhaul in December 2017. The tax changes gave a substantial boost to business and industry while benefiting affluent Americans, thanks to changes to the estate tax and the alternative minimum tax.
The changes also capped the federal deduction for property, state and local taxes at $10,000. That sent a wave of affluent residents in high-tax states — including New York, New Jersey and California — to shop for a primary residence in Florida and, in particular, Palm Beach, according to independent island broker Linda Olsson of Linda R. Olsson Inc. Echoing other brokers, Olsson said people have come to regard Florida as a tax haven, thanks to its favorable homesteading rules, its lack of a state income tax, its relatively low sales tax and its limited tax on intangible property.
“For wealth preservation, people certainly see Palm Beach as an option,” Olsson said.
Some have speculated that July’s sales may have been sparked, in part, by this year’s April 15 tax deadline, which marked the first time the tax-law changes were reflected on returns.
In addition to tax advantages, Olsson added, the island continues to offer home buyers its traditional attractions — security, beauty, fine architecture and favorable weather, especially during the winter months.” Read the entire story here: https://www.palmbeachdailynews.com/news/20190809/exclusive-palm-beach-homes-july-real-estate-deals-set-record-at-374-million
Now is the time to think about listing your home or condominium for sale for this Season…We would welcome the opportunity to work with you!
Specializing in Palm Beach Luxury Properties with our Global Reach, Local Expertise, and Unrivaled Web Site. Recognized by the Wall Street Journal as one of “America’s Best Real Estate Agents”, known our professionalism, superior customer service and in-depth knowledge of the market. Representing buyers and sellers of Palm Beach’s finest residences… You can profit from our knowledge, expertise, and global presence. We don’t just talk about excellence… We Get Results!
With over 30 years of experience selling Luxury Homes in Palm Beach, Linda and her associates have gained a vast knowledge of Palm Beach, its people, and its history–knowledge we put to daily use to help our clients. The firm’s reputation and success are built upon experience, expertise, and excellent service. Choosing a firm with the commitment, confidentiality, and dedication to represent your best interests makes all the difference. We take great pride in utilizing our experience, resources, and global connections to unite extraordinary people with extraordinary properties.
We are proud of our customer testimonials, posted by satisfied customers, Please take a moment of your time to review…
Thinking about buying or selling in Palm Beach? Whether you are Buying or Selling, we look forward to the opportunity to represent YOU. Contact us Today!