South Florida Real Estate News - Brian Pearl

Freddie Mac: 2015 Home Sales to Hit 2007 Levels

According to Freddie Mac's latest U.S. Economic & Housing Market Outlook, U.S. home sales in 2015 will show increase to the numbers associated with a normal real estate market. Here is their projection:

"We are projecting a 4 percent rise in sales to 5.6 million, which would mark the highest level of annual sales since 2007."

And their optimism was seconded by both the National Association of Realtors (NAR) and the Mortgage Bankers Association (MBA).

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New proposal would add to Boca Raton's downtown skyline

A downtown Boca Raton residential complex that languished for 10 years in the planning stages has been revived -- now with bigger proportions.

Royal Palm Place was approved in 2003 as a 149-unit, downtown apartment complex, part of the mixed-use development on Federal Highway. It received several extensions on its approval until time ran out in March.

But now, one of Boca's biggest landowners, Investments Limited, is bringing Royal Palm Place back to life. And now it's 200 units, instead of 149, and 13 stories high, instead of 10. It will also reach at least 40 feet higher the city's official 100-foot limit.

"The Royal Palm proposal is a sign of the times as there is robust demand for downtown units," said Glenn Gromann, chairman of the Downtown…

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Palm Beach County New Construction Update

There are several new construction projects underway in Boca Raton, Delray Beach, Boynton Beach, and even Highland Beach.  Here are the up-to-date details as they are currently.

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Realtor Vs. For Sale By Owner (FSBO)??

Realtors vs. For Sale By Owner

Let us see if selling your home by yourself as a FSBO (For Sale by Owner) is really cheaper as compared to selling it through a Realtor.

It has been discovered through research conducted that FSBO (For Sale By Owner) takes longer to sell, in addition to the fact that about 21% of them end up being listed on Multiple Listing Service (MLS). This leads to an average of 68 days longer as compared to real estate listed with a Realtor. So, with a Realtor, the average property spends approximately 69 days on the market, while with the property being sold by the owner, (FSBO), it spends as long as 88 days on the market.

Are you really saving money?

Many home sellers in today's real estate market are inclined to at least…

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Understanding Prorations on a Real Estate Transaction...

It's very common to see a purchase contract with provisions for prorations. This type of contract should be read closely and you should understand the prorations before signing. It may even be necessary to request a change to the verbiage used for the prorations.

Most of the time, the buyers are the ones responsible for the prorations. These changes will often show up as a debit on the closing statement for the buyer and will be a credit on the sellers closing statement.

Prorations usually increase the net profits of the seller and they cover items which were prepaid by the seller for a time when the seller won't own the property.

Prorations for Mortgage Interest

Sometimes, you will need to understand what the mortgage interest…

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Delray Beach's Old Library Will Be An iPic Theater

Redevelopment of Downtown Core Business District – Fourth & Fifth Avenues Site (formerly known as the Old Library Site)

Location: South of E. Atlantic Avenue, between SE 4th and 5th Avenues
Developer: Delray Beach Holdings, Inc. (iPic Entertainment)

Project Description: After the Delray Beach Public Library relocated to West Atlantic Avenue, its former site on SE 4th Avenue became available for redevelopment. The CRA issued an RFP (Request for Proposals) to solicit development proposals in 2006, but the selected project eventually became a casualty of the nationwide recession and real estate market collapse.

In February 2013, the CRA issued another RFP to redevelop the site. In August, 2013, the CRA Board awarded the RFP to Delray Beach Holdings,…

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Brian Pearl Named One of America's Top 1,000 Realtors

Pearl from Boca Raton, Had an Impressive 196 Closed Transactions On His Way to Becoming One of South Florida’s Top Professionals

Boca Raton, FL July 8, 2014 - Brian Pearl of Lang Realty was named one of America’s top real estate professional teams by REAL Trends and as advertised in The Wall Street Journal.  He is now a member of the “The Thousand Top Real Estate Professionals,” a prestigious national awards ranking sponsored annually by the two respected publications.  Pearl is now ranked in the top one half of 1 percent of the more than 963,000 REALTORS® nationwide.

The Thousand real estate professionals was announced on July 8, 2014, with four separate categories honoring the top 250 residential agents and agent teams for excellence in:

…

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Waterstone Resort & Marina Opens on Lake Boca Raton

The Waterstone Resort & Marina in Boca Raton, a DoubleTree by Hilton, has recently been renovated with a modern design. Located centrally between Palm Beach and Ft. Lauderdale, this hotel known previously as the ‘Boca Bridge Hotel’ reopened in May.

Waterstone Resort & Marina is placed right on the water at Lake Boca, nearby the Atlantic Ocean inlet and a block away from the pristine beach. With the redesign complete, a big feature is the addition of a new pool area and waterfront promenade. Adjacent seafront dining and a marina offer boaters superb dining experiences straight to their deck. Waterstone Resort & Marina boasts with a 200-feet of linear dockage to allow vessels up to 80-feet long. There are water sports facilities on site; boating and…

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Depot Square Apartments get the go ahead from Delray officials

An under developed resource located north of Delray Beach's historic will see new life soon. The 12-acre lot containing a dilapidated train station is slated for development as a family-friendly, 284-apartment complex. Incentives for the community include plans for a cyber cafe, fitness center, and bicycle repair shop.

Delray Beach seems to have forgotten a little used historic district. But soon the area will have a new look with modern lines. The planned construction will be highly visible to announce the redevelopment of the historic area.

A wildflower garden occupies the 12-acre field near Delray's historic train station. After disagreements in the early 1990s the historic former Seaboard Air Line Railway depot, located a few blocks north, was…

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Major Renovations to Come at Woodfield Country Club

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. The renovation plan includes 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 use by younger members of the country club including teens and children.

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…

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