U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Florida > West Palm Beach - Boca Raton - Boynton Beach
 [Register]
West Palm Beach - Boca Raton - Boynton Beach Palm Beach County
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-03-2008, 10:50 PM
 
18 posts, read 74,437 times
Reputation: 15

Advertisements

I'm Italian actually living in Dubai and relocating to Florida in Summer 2009.

I'm looking for a single family villa in a nice gated community and I already started my research on Internet.I'm a cash buyer and I'm wondering how do you feel the market is.Are there around real bargains?

My budget is $ 1.000.000-1.300.000 so I guess it's pretty reasonable,but sometimes I have the feeling that some villas are still overpriced for what you get(at least from the pictures,I haven't been there yet).

And also... why all the new communites are priced something like
$ 1.700.000 or 2.000.000 for a nice but no exceptional villa,when the market is supposed to be low?
Could it be more convenient to deal with a builder(if it's possibile,I don't know)and try to get a new home or better to go and buy one #as is#?
Any advice is appreciated!!

Thank you.

Giulia
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-04-2008, 01:35 PM
 
17,288 posts, read 27,511,169 times
Reputation: 8660
What sort of Villa and where, exactly, are you looking?

Palm Beach (Island), for example, continues to go up in price.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-08-2008, 08:39 PM
 
18 posts, read 74,437 times
Reputation: 15
I haven't been there yet.I'm going in October.
What could be interesting as I see from the web are communities like The Oaks,Yacht Club,Mizner Park.
4 bedrooms,nice gated community with facilities for adults and kids.The idea is to look from Aventura up to Boca.I already have a holiday apartment in Aventura,which is a nice area,but I had the feeling that Boca could be better for families with kids.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-12-2008, 02:56 AM
 
Location: western East Roman Empire
8,456 posts, read 12,364,619 times
Reputation: 8763
Quote:
Originally Posted by giulia778 View Post
I'm Italian actually living in Dubai and relocating to Florida in Summer 2009.

I'm looking for a single family villa in a nice gated community and I already started my research on Internet. I'm a cash buyer and I'm wondering how do you feel the market is. Are there around real bargains?

My budget is $ 1.000.000-1.300.000 so I guess it's pretty reasonable, but sometimes I have the feeling that some villas are still overpriced for what you get (at least from the pictures, I haven't been there yet).

And also... why all the new communities are priced something like
$ 1.700.000 or 2.000.000 for a nice but no exceptional villa, when the market is supposed to be low?
Could it be more convenient to deal with a builder (if it's possibile, I don't know) and try to get a new home or better to go and buy one #as is#?
Any advice is appreciated!!

Thank you.

Giulia
Ciao Giulia,

You are on the right track with all your questions, but it is hard to give a straight answer, also because the market is volatile right now.

Indeed there is still a lot of overpriced crap on the market, from the range you are talking about down to the $200,000s, and beyond both sides of that range. I don't think there are too many real bargains, though it may be argued that some properties are now "fairly" priced.

Again, the market is volatile right now and conditions for the buyer will probably improve further in 2009 as general economic conditions deteriorate.

At the same time, however, your price range along the water is another story, you are paying for the land value mainly.

You will find new construction in the long sliver of territory that you mention, but a lot of it features zero-lot lines, even in the price range you cited, which, with the dollar being reduced to a banana currency, is actually not very much when you consider that you may be competing with CEOs and politicians who earn multi-millions per year, not with working-class stiffs who earn around $50,000 trying to stay in a house they borrowed $400,000 to get into in 2005, for example, and whose market price now is around $300,000 and still declining, like a slow-motion torture.

If you have children and you want space, one possibility is to buy an old house with a good-sized lot and modernize it, maybe even tearing it down and building from scratch. There may be opportunities like that between Fort Lauderdale and Boca Raton.

It is worth observing that searching on the internet is one thing, reality on the ground is another. Hopefully you will have the opportunity to visit between now and the time in 2009 when you are scheduled to move. A knowledgeable and not too pushy realtor may be helpful, but you need to come armed with your own good market knowledge, as you seem to have, otherwise all of the leaches in the business will take advantage of you. Hopefully you also already know a good real estate lawyer.

October is a good time to come, well before the snowbirds. East of Mizner Park may be interesting because you can find old houses with relatively large lots, candidates for modernization and/or tear down and rebuild. There is some new construction in the area, straddling Mizner, one is a planned community, but, as you have already observed, the results are not impressive in relation to the asking price, even after having come down by some 25%.

Be careful and good luck!

Last edited by bale002; 07-12-2008 at 03:33 AM..
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Florida > West Palm Beach - Boca Raton - Boynton Beach
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top