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News You Can Use
Abacoa Mainstreet in Jupiter looks to revive
The major shopping center developer Woolbright Development just closed on the ground floor stores and restaurants condos consisting of 91,400 square feet of Abacoa Town Center’s buildings for $11 million. Jupiter’s Abacoa is known as one of the best places to live and play but not so great to start a business. The commercial space has been challenged for years to obtain full occupancy but it appears that is about to change. Woolbright is know as the number one owner of retail space in Florida and is expected to bring the Mainstreeet project to a major success. Woolbright is also under contract to buy the closed Crown Theater at Abacoa. Stay tuned for future updates.
Riviera’s Beach Waterfront redevelopment moving forward.
The city’s redevelopment board recently voted unanimously to hire the Treasure Coast Regional Planning Council to reevaluate its $2.5 billion waterfront plan. The project consists of 400 acres along the Intracoastal Waterway. The stalled project under past boards had property owners fearful that the old plan would take their land by eminent domain and give it to developer Viking Inlet Properties. However, State lawmakers stripped governments of such powers last year. The current planning council is a public entity that is governed by elected officials and operates a planning staff and allows the public a greater voice in the development process. The group will start meetings in late October or early November to determine the future of the waterfront project.
Moving to Florida
Despite the rash of negative newspapers articles crying about the housing market these days the latest numbers from Florida Power and Light states that 250 people per day are coming to Florida which makes this about 100,000 a year. There is no doubt that much of the current inventory has been investor driven and builder overbuilt but this has moved our market into a buyers market and pricing is much more reasonable than in the previous two years. Inventory absorption is expected to be reached by 2009 which makes this one of the best markets for buyers to acquire that perfect home at the perfect price. One World Realty provides a staff of Accredited Buyers Representatives so do not hesitate to contact us for representation. Learn more of this designation by visiting our Website and clicking on buyer Representation.
Florida’s housing market now in slow recovery
Popular perceptions about the housing market are wrong, says noted economist Hank Fishkind, who believes the market reached bottom a few months ago. Fishkind looks for trends in real estate statistical releases, and says that things may not be great but there’s also no indication that they’re getting worse. Fishkind said “The variance between the real economic data and people’s perceptions was enormous while home starts have dropped 36 percent from their peak, starts have stabilized over the last six months with no further erosion. August report on new home sales confirms that the market has bottomed out. Sales actually increased 2.7 percent to an annual pace and the inventory of new but unsold homes declined.” Fishkind agrees that sales of existing homes are down, but also looks at the amount of the drop and recent changes. “Importantly, the sales of existing homes were again stable for the seventh month in a row,” he says. “While recovery may be some time off, it is clear that Florida’s housing markets have bottomed out.”
Fishkind does not believe Florida home prices will decline any further over the next 18 to 36 months, but he does expect them to remain generally flat, depending on where they’re located in the state. “The more overbuilt markets will take longer to recover,” Fishkind says. “But fears that prices will drop significantly are unfounded. And so is the pervasive panic. The economy is stronger than the reports about it.”
© 2007 FLORIDA ASSOCIATION OF REALTORS®
Compare Insurance Costs and Save
Florida homeowners and buyer can now find insurance cost comparison information on a state-run Web site, www.ShopAndCompareRates.com, which creates a fictional house and then shows how much it would cost to insure, by company and county, based on rate filings submitted to the Florida Office of Insurance Regulation. Users can compare rates offered by competing companies working in a given county, sorted from lowest to highest cost, with a link to each company’s information.
Marina Grande catering to Baby Boomers and their families!
Check out the newest waterfront community, Marina Grande, catering to Baby Boomers and their families. This luxurious community is located at the foot of the Singer Island Bridge and at the mouth of the Palm Beach Inlet on the Atlantic Ocean, just 50 minutes to the Bahamas. Residents can call down to Loggerhead Marina, which is located next door, and have their boat dropped in the water and can be catching fish within minutes or motoring down the Intracoastal waterway to their favorite waterfront restaurant.
This resort style community has beautiful facilities which include Tennis Courts, Pool, State of the Art Fitness Center and more. Every condo has waterfront views of the Intracoastal and Ocean and prices range from the $400,000’s and up, with interior square footages from 1,565 to 2,287.
For more information, contact Barb Fox, Resident Realtor, at 561-758-5509 or Barb@BarbaraAnneFox.com. Also don't forget to check out the virtual tour as well.
One World Associate Honored by Florida Association of Realtors®
At the August 23rd Florida Association of Realtors 91st annual Convention & Trade Expo at the Buena Vista Palace Hotel & Spa in Lake Buena Vista, Florida our own Patricia Carrico was recently honored. Winning Florida Association of Realtors Newcomer Award for 2007 is Patricia, an Associate with One World Realty Inc. and a member of the Realtors Association of the Palm Beaches. This marks the fourth time that FAR has given this award. The Newcomer Award recognizes an outstanding individual who has entered the Realtor profession within the past three years or less and during that time has made notable contributions to the local and state associations, as well as to his or her community. In her first year as a Realtor, she earned her GRI, joined several committees, including the International Business Council and has been active in RPAC fundraising and the Women’s Council of Realtors. Carrick is a candidate or has pending designations in numerous councils and real estate memberships, including ABR, CIPS, CRB and CRS. She is a member of the Chamber of Commerce of the Palm Beaches and a sponsor for New Hope Charities of Palm Beach. She participated in eight Habitat for Humanity builds sponsored by her local association and volunteered for the Reach Women’s Shelter. And, Carrico also happens to be a licensed mortgage broker and Interior Decorator. Additionally, Donald Urschalitz was also inducted in the Florida Association of Realtors Honor Society and the Realtors Association of the Palm Beaches for his contributions on the local and state levels of Association activities.
One World Realtors pick of the month
One block from Jupiter Beach
This 2 story 2 bedroom townhome featuring a wide patio lake side patio is perfect for a second home or year around living. Amenities include community heated pool, gated community, spa, and walking distance to the beautiful beaches of Jupiter Florida. Priced to sell at $365,000. Call Donald Urschalitz P.A. for more information at 561-685-0976.
Key West Style home complete with Tiki Bar and Pool
This tropical residence is located in historical Lake Park, just 5 minutes to the beautiful beach of Singer Island. This beautiful landscaped home has 3 bedrooms, 2 baths with paver driveway and carport at the asking price of $279,000. Check out the virtual tour below and contact Barb Fox for more information at 561-758-5509 or Barb@BarbaraAnneFox.com. Virtual Tour link .
Direct Ocean
This 2 bedroom condo on the 5th floor has breathtaking views of the ocean and Intracoastal. Offered furnished with designer touches thru-out. Located in beautiful Highlands Beach this is the best buy in complex $875,000 call Debbie Dunn, Realtor for more information 561-758-1317.
Harbour Villas
The developers of Harbor Villas Singer Island have authorized us to make a drastic price reduction in order to bring you and your buyers this fantastic opportunity. Brand New construction prices now starting at only $225.00 per square foot. Please do not miss the chance to view these beautiful built custom townhomes, ready for immediate occupancy. Located just two blocks from the Atlantic Ocean these 3 bedroom 3 1/2 bath homes come with a two year beach membership to the the Hilton Beach Club. Membership includes two beach chairs with canopy, parking pass, use of the pool & spa and a food service gift certificate. For a complete list of area amenities visit www.harborvillas.com. Call Chip or Nancy Lubeck 561-762-0770 for more information.
Today’s bargain is tomorrow’s opportunity.
-- AskMrPalmBeach.com
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