Market Update for Saturnia, Boca Raton as of December 2014

Real estate market data for Saturnia, Boca Raton, FL provided by  Rick Schuster of Jaycee Realty.

Saturnia Market Update
Over the past 90 days, Saturnia has seen 6 Multiple Listing Service home closings with an average sale price of $512,500. This equates to $165.59 per square foot of living space.  The average List price of $531,965 indicates that Saturnia Sellers are achieving approximately 96% of their asking price.  If you are considering buying a home, you can still find bargains on a house in Saturnia but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, well priced listings often sell within a few days of hitting the market.

Click the following link if you are interested in seeing a current list of available inventory in Saturnia.

At the time of publication of this article, the average Saturnia home was listed for sale for 77 days. Sellers should make sure to price their home near market value if they expect to get an offer from an interested buyer.  I wouldn’t expect home prices to run up quite as fast as they did back in 2005 as banks remain stringent on their lending guidelines.

Saturnia Real Estate Active Listing Summary
The average list price for the 11 single family homes currently for sale in Saturnia is $694,800 which is a substantial increase over the recent average sale price.  The average price per square foot for listings in this neighborhood is $191.83 — also a big jump.

Saturnia Properties Under Contract
The Multiple Listing Service currently shows 3 properties under contract with an average list price of $731,133.  The average price per square foot is $183.12 which is almost 9.5% greater than recent sales in the neighborhood.

Quick Analysis
One of the reasons for the disperity in pricing may be that 3 of the 6 recently closed sales are substantially smaller in size compared to properties which are currently available.  For instance, a property with 2741 square feet recently sold for $455,000.  This home is 607 feet smaller than the largest home sold in the past 90 days.  Based solely on square feet (not the most accurate method of determining value), this would mean an adjustment of $100,513 —- this comparable sale would probably not be used by an appraiser as the adjustment would exceed the allowable amount governed by appraisal rules.  It is important to note that there are several homes currently for sale which are over 4,000 feet which would make for an even greater “phantom” adjustment.  If you would like a detailed analysis regarding the values in Saturnia, please contact me via the information below and I will be happy to prepare a report for you.

Find Homes for Sale in Saturnia
Visit my website to search for homes in Saturnia or to be notified when a Saturnia home comes on the market.  To find out what you home is worth call me at 561-206-2835.

Note:  The information contained herein was gathered from the Multiple Listing Service (MLS) and is deemed reliable but not warranted.  Additional properties may be active, under contract or sold which may or may not be listed in the MLS.

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Rick Schuster
Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

      

Market Update for Boca Winds as of December 2014

Market Update for Boca Winds as of December 2014
Real estate market data for Boca Winds, Boca Raton, FL provided by  Rick Schuster of Jaycee Realty.

Boca Winds Market Update
Over the past 90 days, Boca Winds has seen 9 Multiple Listing Service home closings with an average sale price of $381,991. This equates to $152.19 per square foot of living space.  The average List price of $392,689 indicates that Boca Winds Sellers are achieving approximately 97% of their asking price.  If you are considering buying a home, you can still find bargains on a house in Boca Winds but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, well priced listings often sell within a few days of hitting the market.

Click the following link if you are interested in seeing a current list of available inventory in Boca Winds.

At the time of publication of this article, the average Boca Winds home was listed for sale for 92 days. Sellers should make sure to price their home near market value if they expect to get an offer from an interested buyer.  I wouldn’t expect home prices to run up quite as fast as they did back in 2005 as banks remain stringent on their lending guidelines.

Boca Winds Real Estate Active Lisitng Summary
The average list price for a single family home in Boca Winds is$378,405 which is actually a “tad” lower than the recent average sale price.  The average price per square foot for listings in this neighborhood is $187.15.

Boca Winds Properties Under Contract
The Multiple Listing Service currently shows 5 properties under contract with an average list price of $357,720.  The average price per square foot is $160.72 which is almost 5.5% greater than recent sales in the neighborhood.

Find Homes for Sale in Boca Winds
Visit my website to search for homes in Boca Winds or to be notified when a Boca Winds home comes on the market.  To find out what you home is worth call me at 561-206-2835.

Note:  The information contained herein was gathered from the Multiple Listing Service (MLS) and is deemed reliable but not warranted.  Additional properties may be active, under contract or sold which may or may not be listed in the MLS.

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Rick Schuster
Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

      

Market Update for Boca Falls as of December 2014

Real estate market data for Boca Falls, Boca Raton, FL provided by  Rick Schuster of Jaycee Realty.

Boca Falls Market Update

Over the past 90 days, Boca Falls has seen 6 Multiple Listing Service home closings with an average sale price of $618,833. This equates to $186.17 per square foot of living space.  The average List price of $647,817 indicates that Boca Falls Sellers are achieving approximately 96% of their asking price.  If you are considering buying a home, you can still find bargains on a house in Boca Falls but having a good real estate agent who understands the market is a must.  Don’t wait on the sidelines for too long, well priced listings often sell within a few days of hitting the market.
Click the following link if you are interested in seeing a current list of available inventory in Boca Falls.

At the time of publication of this article, the average Boca Falls home was listed for for sale for 109 days. Sellers should make sure to price their home near market value if they expect to get an offer from an interested buyer.  I wouldn’t expect home prices to run up quite as fast as they did back in 2005 as banks remain stringent on their lending guidelines.

Boca Falls Real Estate Active Lisitng Summary
The average list price for a single family home in Boca Falls is $645,294which is approximately 4% higher than the average sale price.  The average price per square foot for listings in this area is $183.60.

Find Homes for Sale in Boca Falls
Visit my website to search for homes in Boca Falls or to be notified when a Boca Falls home comes on the market.  To find out what you home is worth call me at 561-206-2835.

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POSTED BY
Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

      

National Hang Out with a Realtor Day

Ok, so today is National Cat Day, National Oatmeal Day and National Hermit Day.  Wow, that’s a pretty busy day for some people.  Especially for cat owning hermits who eat oatmeal!

While there are many days and/or months throughout the year which are VERY meaningful and necessary to respect and honor, it seems that there is a recent onslaught of other days which are asking for unnecessary acknowledgment.  It’s kinda’ like a “Hallmark Holiday”.

All this said, I propose that today should be National Hang Out with a Realtor Day.  Please vote for this “day” at your local election center on November 4th.

Think of all the fun someone could have in acknowledging the endless efforts of the Realtor.  They could:

• Attend a closing
• View houses
• Schedule multiple showings to multiple clients
• Negotiate a contract
• Witness how cold calls are made
• Value properties
• Network
• Attend a listing presentation
• Attend an inspection
• Attend an appraisal
• Attend a pre-closing walk-through inspection
• Go to a continuing education class
• Write a blog post

The fun is almost endless and certainly does not stop with the above items.

At the end of National Hang Out with a Realtor Day, they could look forward to the next day which would be National Get a Mortgage Day.  The day after could be National Buy Homeowners Insurance Day.  And by the end of the week, everything could be wrapped up in National Buy Title Insurance Day.

Hold on.  Now that I am thinking about it, we could make the entire month of October (next year) “National Real Estate Month”.  Or, better yet, we could make November “National Hang Out with a Realtor, Get a Mortgage, Buy Title Insurance and Buy Homeowner Insurance Month”.  We could wrap up the whole real estate process in one fell swoop – and all in one month!  Then, we could take the rest of the year off.

How cool would that be?

Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax
     

Palm Beach County Housing Update

Palm Beach County Housing Update 
BY RICK SCHUSTER
Real Estate Services with Jaycee Realty, Inc.

The results are in!  The following are the most recent housing statistics relating to home sales in Palm Beach County, FL:

Single Family Homes
December 2013 Closed Sales:  1,325
December 2012 Closed Sales:  1,184
Year-Over-Year Change:  +11.9%

Median Home Price, December 2013:  $265,000
Median Home Price, December 2012:  $229,750
Year-Over-Year Change:  +15.3%

Median Days on the Market, December 2013:  45
Median Days on the Market, December 2012:  85
Year-Over-Year Change:  -47.1%   

Active Listings, December 2013:  6,720
Active Listings, December 2012:  6,764
Year-Over-Year Change:  -0.7%

Months Supply of Inventory, December 2013:  5.2
Months Supply of Inventory, December 2012:  5.9
Year-Over-Year Change:  -13%

Townhomes/Condos
December 2013 Closed Sales:  921
December 2012 Closed Sales:  1,122
Year-Over-Year Change:  -17.9%

Median Home Price, December 2013:  $120,750
Median Home Price, December 2012:  $98,750
Year-Over-Year Change:  +22.3%

Median Days on the Market, December 2013:  51
Median Days on the Market, December 2012:  76
Year-Over-Year Change:  -32.9%

Active Listings, December 2013:  6,091
Active Listings, December 2012:  7,054
Year-Over-Year Change:  -13.7%

Months Supply of Inventory, December 2013:  5.4
Months Supply of Inventory, December 2012:  6.1
Year-Over-Year Change:  -10.4%

If you are looking to buy or sell a home in Palm Beach County Florida, call the Real Estate experts at Jaycee Realty.

All data represents information available as of December 31, 2013 and has been provided by the Realtor Assocation of the Palm Beaches.

 

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Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7 – Ste 400
Boca Raton, FL 33498
561-206-2835 – via Google Voice
561-988-2546 -Fax
       

      

 

Porting a Landline Telephone Number

Over the past few years I have “toyed” with the idea of porting (transferring) my telphone landline to an alternate carrier.  4 weeks ago I decided to take the plunge.  While the frustrations associated with the transition have been quite tiresome, I have learned a lot about the experience and hope to help guide some blog viewers via some of the things I learned during the porting process.

• Gather your most recent telephone bill showing the telephone line that you are looking to port out.
• Ask the new carrier for a “Letter of Authorization” form.  You should fill out this form in its entirety and, if you are a signer on your existing account, sign the form.  If you are not a signer on the account, you must have an authorized individual sign the document.
• If you are porting more than one number (like I am), then you will need to list all of the numbers on the form.
• Ensure that you know what the “billing” telephone number for the account that you are switching from. This information will be required on the form too.
• Be sure the have the EXACT billing address for the current carrier (required on the form).
• Be sure the have the EXACT company name for the current carrier (required on the form).

Once you have all of the information as provided/stated above, you should make the formal request with your new carrier (I am switching to Ring Central).  Ring Central allows me to make the application online and then submit supporting documentation via upload or fax.  Supporting documentation, in my case, includes a copy of the last bill and a signed/dated Letter of Authorization.

Assuming you perform the above without error, you have a chance of porting your numbers within 15-20 days.  If there are any hiccups (on your end, on the originating carriers end or on the new company’s end) you may be in for an experience lasting longer than you’d like.  It could take weeks or even months to straighten out porting requests (a friend of mine with a property/casualty insurance business waited almost 2 months to get his numbers ported).

While the process may be long, it is always a good idea to have as much control over your telephone numbers as possible.  In my case, the phone system entering our office is provided by a T1 line.  If I move to an alternate location, or if I choose to make special changes to my lines, I may have difficulties.  By switching carriers (to Ring Central) I am setting myself up to rarely (or possibly never) miss a call and to maximize the flexibility I require with my phone system.

Porting a landline telephone number does not take rocket science BUT it does take accuracy and, in some cases, a lot of patience.  I hope the information above helps you in the event you decide to port your number(s) from your existing landline telephone carrier.

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Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp

20283 State Road 7, Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

       

   

   

 

My Personal Experience Working in a Bank Owned Building – (FYI – It Stinks!)

Disclaimer:  Before I begin on the rant below, I understand that it is my option to relocate my business if I desire.  Because of the nature of my business(es), title insurance and real estate, I have made the decision to “hang tight” until a new owner takes over the management functions of the building I operate from.

Now to the rant …

Background:
Somewhere around 6 months ago, the building in which my businesses are located was sold to the bank via a foreclosure sale.  The building is set up as an executive suite situation with individual offices from 140 square feet to office bays of 1000 feet “on up”.  I am located in a bay with approximately 1100 square feet.  In reflecting upon the past 6 months, I feel the uncontrollable need to communicate my personal frustrations in operating from within a bank owned building controlled by a receiver.

First, let’s write about “the good”:

1. The office is within  minutes from my home
2. I have been a tenant of the building for 4 years.
3. The building is in a good location
4. The building is “visually appealing” when maintained properly
5. The building has plenty of parking (especially now)

The Bad:

1.  The building is infested with bats on its rooftop.  According to other tenants, and unconfirmed by me, a bat has a season in which it is a “protected species”.  The bats only come out at night, however, the squeaking of the bats during the day is an erie feeling.  The bat “debris” left by the animal each morning is disgusting.  In assuming the bank and/or court appointed receiver knew about the problem prior to the protected season, then they have acted in a terribly irresponsible fashion.  It is my opinion that they should have fixed the problem IMMEDIATELY upon taking ownership.

Bat “Debris” – Small Sampling

The picture above does not do the situation “any justice” as 2 entrance ways to the building are usually covered in “bat debris”.  The black spots in the picture are the excrement that I am referring too.  The receiver apparently had their maintenance staff clean the entrance way this morning.  Perhaps next time I should take a picture of the bottom of my shoe to illustrate the grossness of the matter.

2.  The phone system failed.  Around 2 weeks ago the phone system suddenly “crashed”.  Yep, dead lines.  Yep, no calls coming in or going out.  Yep, no fax machine either.  Yep, business stops!  Really?  Sure, every once in a while the phone system would have to be reset over the past 4 years.  Who hasn’t had to reset a major phone system every once in a while?  But the fact remains that whenever there were issues during the previous owner’s regime, the phones were operable over 99% of the time.  In the event of any downtime, the situation would be fixed in a matter of minutes NOT WEEKS!  In fact, I was a tenant of the previous owner in another building for 6 years and my phones were never out for 2 hours (as far as I can remember) let alone 2 weeks.  In giving the receiver some credit, they were able to install a temporary phone system in the interim.  With this system however, we no longer have the luxury of caller id, the system does not have voice mail, the people answering the phones must answer incoming calls as “Corporate Offices” (remember, I am in executive suites), and there are only a limited number of extensions available within the system.  In fact, I am personally still working off of my cell phone!  There are other companies with multiple employees who are working from their mobile devices too.  While I am somewhat grateful that the receiver was able to coordinate for a temporary phone system, it seems like the “band aid” applied could harm the reputation of some of the businesses.  Without voice mail and without the ability to answer the phone with a corporate identity leaves the individual placing the call with a question about the company they are calling.  Oh yeah, it would be crazy for me not to mention the lost revenues incurred by this crummy situation.

3.  The building is not being maintained as well as it should be.  The outside of the building is dirty.  It should be cleaned immediately.  There are water marks receding from various windows.  There is a water mark on our office ceiling tile which is about three weeks old.  The receiver is aware of the problem.  They sent someone in to identify the issue.  Still, no fixed ceiling tile.  Really?  I was in another tenants office earlier in the week, same problem!  Really?  The maintenance of the building (along with items 1, 2 and 4) have created questions in my mind as to whether the court appointed receiver is qualified to handle this type of real estate management project.  After all, they are an accounting firm, not a real estate management company.  Perhaps, in the future, a receiver should be required to hold a real estate license and work in conjunction with an accounting firm.  This would not only protect the businesses but also the owner/bank.

4.  The bathroom has issues.  The men’s urinal on the first floor of one reception area is leaking at the handle.  This has encouraged certain tenants to discontinue flushing the urinal after its use.  Really?  Enough said!

Advice:

1. Regarding the phones.  If you are in a situation where your phones are answered in a multiple office environment, I would suggest creating your own personal number which forward to the multiple office environment.  That way, in the event that the phones fail, you can forward to an alternate number or a sevice like Ring Central.
2. Have a TON of patience.  As I mentioned previously, I understand and acknowledge that there will soon be a new owner of the building.  Hopefully they will take pride in their investment.  This building, like I mentioned, is very close to my home so it is convenient.  I am not sure however, whether I can continue to deal with the negatives as mentioned above.  

The Bottom Line:
The bottom line is that the courts should appoint qualified entities to manage foreclosed properties.  In doing so, they may need to consider joint efforts of various industries (Real Estate, Accounting and Legal).  It is a tremendous burdon to ask a business to relocate while waiting on a new buyer.  This situation STINKS — literally! 

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Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp (NMLS 325843)

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

21473 Halstead Drive, Boca Raton, FL 33428

21473 Halstead DriveBoca Falls – Boca Raton, FL

$575,000

5 Bedrooms
3 Bathrooms
3136 Square Feet Under Air
Over 1/4 Acre
3 Car Garage
Pool
Cherry Cabinets with Custom Pullouts
Designer Kitchen
Double Oven
48″ Sub Zero Refrigerator
Sub Zero Dual Zone Wine Cooler with Beverage Compartment
Induction Cooktop
Bamboo Floors
Quartz Countertops

 This is a remarkable 5 bedroom, 3 bath updated home located in desirable Boca Falls (Boca Raton, FL). It has an incredible kitchen with a 48” Sub Zero Refrigerator/Freezer, Sub Zero Dual Zone built in wine and beverage cooler, quartz counter-tops, cherry cabinets with custom pull outs, induction cook-top and a double oven with convection/microwave. Washer/dryer was installed in 2013, one A/C replaced in 2008 the other in 2010. 80 gallon water heater. Bamboo floors, updated bathrooms and many more extras. Excellent schools are located within walking distance. This home is a must see!

Boca Falls is a 722 Single Family Home community located in West Boca Raton, FL. The community boasts a basketball court, 6 tennis courts, a resort style pool, 2 guard gated entrances, an onsite manager and a clubhouse. Come see the Boca Falls experience.

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Rick Schuster
Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Loan Originator – Leading Edge Mortgage Corp (NMLS: 325843)

20283 State Road 7 – Ste 400
Boca Raton, FL 33498

561-206-2835 – via Google Voice
561-988-2546 -Fax

Rosso Italia — A Great Experience!

I am not a food critic (nor do I play one on TV).  I do, however, like to “get the word out” when I am impressed with a restaurant.  The establishment that I am going to tell you about it called Rosso Italia.

Rosso is located in the Wyndham Hotel and occupies space next to its sister restaurant Red’s Steakhouse.  The Wyndham is located in Central Boca Raton, FL close to Interstate 95.

Many people have a “knee-jerk” reaction when considering a restaurant located within a Hotel.  Rosso is different. 

From the time you walk in, you feel right at home.  All of the professionals within the restaurant are well trained and are sure to “say hello”.  In fact, the owner even passed by our booth to ask if everything was “ok”.  

The wait staff was impressively trained and was able to answer all of our annoying questions about their vast array of Italian choices.  Lunch sandwiches range in price from $12.50 to $15.50 and are as simple as BLT to as complex as their famous Moxie Burger.  My friend ordered the Meatball sandwich and I ordered the Calabrian Chicken sandwich.  He insisted that I try the meatball —— it “had me at hello!”  The chicken, with warm fresh bread (Ciabatta?), was as equally tasty.

Other items on their lunch menu include, but are not limited to:  salads, antipasti, pizza, pasta and dessert.  Prices range from $7.50 for one of their salads to $18.00 for their Rare Tuna Catalana.  Here’s a link to their menu.

Ratings 
Service:  A+ 
Presentation:  A+ 
Taste:  A+ 
Comfort:  A+

There are lots of good eateries in the City of Boca Raton and Rosso is definetely one of them.

***** NOTE ——I am not affiliated in any way whatsoever with this restaurant and do not know any of their employees or owner(s).*****

 

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Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp
20283 State Road 7 – Ste 400
Boca Raton, FL 33498
561-206-2835 – via Google Voice
561-988-2546 -Fax

Canadians play big role in Fla. market rebound

SARASOTA, Fla. – April 11, 2013 – According to a report by BMO Financial Group, Florida’s housing market is on the rebound and Canadian Snowbirds are playing an important role in its recovery.

“Beyond the obvious attraction of great weather and beautiful beaches, there are two factors that make Florida real estate an especially good value for Canadians,” says Jack Ablin, BMO’s chief investment officer. “The first is that … the median priced home in Florida is nearly half than that in Canada. At the same time, the Canadian dollar is trading nearly 10 percent above ‘fair’ value versus the U.S. dollar, arming Snowbird shoppers with extra buying power.”

Report findings
• There is growing demand for Florida real estate from foreign buyers, most notably Canadians, who have helped support property prices.

• Canada is Florida’s No. 1 source of foreign tourists and the state’s No. 1 foreign buyer of real estate. In 2010, Canadians accounted for 36 percent of all real estate purchases

• More than 500,000 Canadians currently own property in Florida.

• A BMO report from 2012 found 16 percent of Canadians would consider buying a home south of the border.

• Of those considering property in the U.S. in 2012, 56 percent would do so to gain a vacation or secondary property; 44 percent cited affordability as a motivation; 29% viewed a U.S. home purchase as a long-term investment.

Where in Florida are Canadians buying?

The report outlines the key geographies in Florida where Canadians currently own real estate, based on a study by the National Association of Realtors®. They include:

• Sarasota-Bradenton-Venice (17 percent)
• Orlando-Kissimmee (13 percent)
• Miami-Ft. Lauderdale-Palm Beach (13 percent)
• Cape Coral-Ft. Myers (9 percent)
• Tampa-St. Petersburg (9 percent)
• Naples-Marco Island (9 percent)
• Other areas (30 percent)

Reprinted with permission. Florida Realtors®. All rights reserved.
© 2013 Florida Realtors®

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Rick Schuster

Licensed Real Estate Broker – Jaycee Realty, Inc.
Licensed Title Insurance Agent – Home Guardian Title, Inc.
Licensed Mortgage Broker – Leading Edge Mortgage Corp
20283 State Road 7 – Ste 400
Boca Raton, FL 33498
561-206-2835 – via Google Voice
561-988-2546 -Fax