The international impact on our South Florida real estate market makes me think of "It's a Small World After All". If you have been to Disneyworld, that song probably started going in your head. In South Florida, that is a great theme song for our real estate market.
Florida has become a favorite with International Buyers and is the #1 place that they are investing their money.
Top States for International purchased
Florida - 22%
California - 15%
Texas - 10%
New York and Arizona - 4%
The international buyer spends more on real estate as an average sales price which helps the luxury sellers. Most international buyers are cash which is a nice plus. Also many buyers are looking for property that will wow their friends and family. Often the homes are vacation homes or even quick get a way properties.
Understanding which countries are interested in South Florida is important. We are constantly building relationships and studying the world changes so that we can stay in front of the changes.
For more on International influence on the local real estate market in South Florida, check out our latest radio show!
Welcome to Ironhorse Country Club! This is a gorgeous community near Wellington where membership is not mandatory. You do have the option to join as a tennis, golf, or even just as a social member. You may not need to buy a membership living at 8273 Bob O Link Dr, West Palm Beach, FL 33412. With a gorgeous screened in pool, beautiful French door entry, open living space, and popular split bedroom layout, you'll never want to leave home! There is a 2 car garage and large driveway so you can have plenty of room for all your toys. This is a golf cart friendly community!
This week on Treu's Weekly Tips we'll talk about buying a home and everything you need to know about the process! The first step is getting pre-approved. Treu Group has great resources for you, like our website which is a direct MLS feed, so you can search all of the newest homes for sale.
When buying a home, or working with a builder, you should use Treu Group. Most importantly, we will represent you as a buyer's agent. The seller pays our commission, and when you hire one member of the Treu Group, you really get the entire Treu team, working for you! We have years of experience and are experts at getting results, and finding solutions.
Listen to "Master Your Mortgage with Treu Group Real Estate" here!
The international market is alive and well in Florida. It really is a small world after all. Changes globally impact us here at home in Florida both positively and negatively. Why does the international market matter so much? Florida receives 22% of all international buyers. In fact, we are the number one state that international buyers purchase in. Many guess that California or New York are the most popular however they trail Florida with !5% for California and 4% for New York. This shift has occurred since because of the perceived value for Florida properties.
One of the benefits of the international buyer is that their average sales price is higher. The average sales price for Florida buyers was $258,200 compared to Florida International buyers at $538,600.
Why do international buyers purchase a home in Florida?
41% selected Florida because it is a desirable location. That is an easy guess. Who wouldn't love warm weather, great beaches and a lot of entertainment.
30% selected Florida because it was a secure investment.
21% selected Florida because it was a profitable investment.
The value of the US dollar versus their prospective country's currency impacted their ability or comfort to make a purchase. The Canadian, Brazil and Britain have seen the impact and therefore their buying decisions.
Why do international buyers decide not to purchase? The number one reason is the cost of the property. This is up 7% in a year. The other reason is that they could not find the right property. Many times, this could be avoided by finding the right agent that understands their needs, takes a consultative approach, has an understanding of the market and a proven track record.
The International Market is always changing and it is important to look for the opportunities that are current and also upcoming. I would say all countries are important however some impact our real estate market more than others. Changes in economic and political situations in other countries as well as the United States can impact buying and selling decisions for South Florida.
Why is the International Market important? They make up many of our real estate transactions and also tend to buy more expensive properties. What do the international buyers spend by country?
United Kingdom $289,600
Western Europe $844,500
Most of the international buyers are purchasing with cash which also helps with our real estate market stability. Only about 20% of the buyers obtained a mortgage.
Why are they buying? We are seeing a variety of reasons. Buyers from the UK were the most likely to purchase for vacation or rental. Buyers from China like to buy properties for their primary residence or for their college students to occupy. This is one of the reasons that the Chinese tend to spend more.
Why should Palm Beach County be considered by international buyers? Palm Beach County offers stability and opportunity. There are amazing communities that have a variety of lifestyles including golf, great beaches and unlimited entertainment. There is something for everyone.
The international market is always something to watch with real estate in South Florida. It is always a constantly adapting market, with the economic and political changes that take place. As the famous ride at Disney World says, It's a Small World After All.
Which two countries could have the greatest impact on OUR Florida real estate market?
Well…. One is CANADA. The other is CHINA.
Let me ask you another question now. Which country’s impact will be more positive and which will be negative? I’ll give you a hint:
China has just surpassed the US as the official new world leader in cross-border investing. Florida has made the top 5 places that Chinese investors are focusing on with their real estate purchases.
And what exactly are the Chinese investing in?? They are investing in residential and commercial property assets - to the tune of about 21 billion dollars! And they’re using some great strategies to do so.
What is their overall investment strategy?
Stability… and opportunity. By opportunity…the Chinese know where to find a good REAL ESTATE BARGAIN. South Florida is really popular since our rent rates are favorable for the investor.
Now… what about our friends north of the border?? Well… that’s where the news isn’t so good.
Canadians represent a lot of the international real estate purchases here in Florida. However, with the Canadian dollar continuing to decline… that’s causing a significant decrease in their ability to invest in Florida real estate. With the strengthening of the US dollar, it now costs 25% more for the Canadian buyer.
What can you learn from all this: It’s important when hiring a realtor… that your realtor knows the ins and outs of the international market!
I am sure you have heard the quote, "In this world nothing can be said to be certain, except death, and taxes," by Benjamin Franklin. However, there are ways to save money on your property taxes! In the state of Florida, you can claim homestead on your property if you reside there for 6 months and 1 day out of the year. If you own a property in Florida that is your primary residence, you qualify for some great tax breaks! Here are 3 things you need to know about property taxes:
1. Close by December 31st, 2016!
If you are in the process of purchasing a new home, you must close by December 31st to be allowed to receive the homestead tax exemption for the next year. To qualify for the homestead exemption for the year of 2017, you must own your home by December 31st, 2016! Another date to keep in mind is March 1st, 2017. In order to get a homestead tax exemption for the year of 2017, you must apply by March 1st, 2017. If you miss these dates you will have to wait until next year! Either error could cost you thousands of dollars.
2. Plan ahead!
Closings can take some time. The average closing takes about a month to fully complete. In some cases it can take up to 6 weeks. Allow yourself plenty of time well before the December 31st due date to assure that your new home will qualify as your primary residence for the next year!
3. Use a reliable lender!
Be sure to finance your new home through a lender you can trust. Don’t work hard to meet that December 31st cut off only to find that your financing has fallen through or has been delayed! Only use a dependable lender for your real estate finances, a reliable institution that will definitely be able and willing to hit your deadlines.
Follow these steps to your homestead tax exemption!
This Palm Beach Country Estates home offers all the peace and quiet that you desire on a large lot. This custom home offers a unique and special design with luxury features too. As soon as you pull up you will see how special this home is. There is a gate with remote access for ease. The home makes a statement as you drive in. There's a great front porch that is perfect to read a book or enjoy a cup of coffee. When you enter, the home comes alive. There is an open layout, 5 bedrooms, a stunning kitchen, theater, a 1000 sf workshop (450 sf a/c) and storage ideal for those that love cars or toys. This home has been updated with stunning porcelain tile and wood floors and impact windows upstairs and accordion shutters downstairs. This is paradise with a peaceful location.
Are you tired of the same looking home? This unique luxury home has all of the special features that you desire. This property has the character you desire.
The first floor is perfect for those that need an office or workshop. There is a lot of space for storage too. Do you have toys or collectible cars? The protected area is a real bonus. There are lots of areas to relax too both on the first floor, patio and porches. This home has been completely remodeled in 2012. There is also plenty of room for a pool.The home has Jupiter city water however there is a well for irrigation which is a nice savings.
What does the Seller Love?
About the city/town
Living in Palm Beach Country Estates on the edge of Jupiter has been wonderful experience. The area upscale, well maintained and close to plenty of shopping and dining.
Proximity to the beach and inter-coastal waterways provides many opportunities for boating, sunbathing and watersports.
Easy access to interstate 95 off Donald Ross and only 15 minutes to Gardens Mall.
About the neighborhood
We love to bike ride right from the house to River Bend Park. Excellent bike trails throughout the park, streams and lakes, lots of birds, and even deer in the early mornings and evenings. http://www.pbcgov.com/parks/locations/riverbend.htm#.Veog4yLD99A
It is a safe family friendly neighborhood.
About the Home
We love the spacious 4000+ feet single level floor plan with a big kitchen and super large family room. Three of the four huge bedrooms have their own bathroom, so it has made getting ready in the mornings a lot easier for our large family. The theatre room is my favorite retreat area! The 400 sf workshop and 600 sf storage on the ground floor is a huge bonus for our home based business. The secure garage area is huge and can hold about 6 cars and its where we store our muscle cars. I love planting flowers in our yard almost anything grows here year round.The lot is fully fenced so our dog can run around outside. We love that the home is newly remodeled and is move in ready.
Favorite things to do near our home
There is plenty of great food in Jupiter but two local favorites with high rankings on Yelp are The Food Shack for lunch and dinner http://www.yelp.com/biz/the-food-shack-jupiter and First Watch for breakfast and lunch http://www.yelp.com/biz/first-watch-jupiter .
Juno Beach is one of the nicest beaches in South East Florida. Great Picnic area, free parking, and even a dog beach area. Take Donald Ross straight to Juno Beach, its only 15 minutes away! http://www.tripadvisor.com/Attraction_Review-g34334-d6913520-Reviews-Juno_Beach_Park-Juno_Beach_Florida.htmlJupiter has excellent Paddle Board and Kayaking areas. We take our Kayaks to Burt Reynolds Park in Jupiter, only 15 minutes away, free parking and a launch for small boats, kayaks and paddleboards. http://www.pbcgov.com/parks/locations/burtreynolds.htm#.VeogRSLD99ABerry Fresh Café is another breakfast and brunch local favorite and just 15 minutes from the house! http://www.yelp.com/biz/berry-fresh-cafe-jupiter
Catching a sunrise over the Atlantic Ocean at Juno beach was a wonderful experience.
This is worth buying because
We appreciate the Palm Beach Country Estates community which offers large 1 acre + lots. Privacy natural landscape along with the pride of ownership we see in the area make it a great place to live.
Easy access to I95 and only 20 minutes to downtown Palm Beach makes this neighborhood close enough to all the best Palm Beach County has to offer.
The home was in great condition, it has a unique style definitely not cookie cutter style. We like the large lot, and it had plenty of room for our cars.
The ONE THING a potential buyer should know about our home/area
Our street is quiet with very nice neighbors who all take pride in their homes. Many people in the community enjoy the great weather by walking, jogging and bike riding in the community, so you see your neighbors walking by. People here in Palm Beach Country Estates are very friendly.
Its close enough to the beach without the high cost of beach living.
You have worked hard in your life and you deserve the best. Let us be the first to say "Welcome Home." This property in PGA National has all of the luxurious features that you desire and more! It is located on a large lot encompassing over a quarter acre, with four spacious bedrooms, a private pool, and breathtaking golf course views.
When you walk up to the property, statuesque estate doors invite you to explore. Inside, the double staircases perfectly frame the foyer and welcome you home. There is so much to love and you can have it all. The first floor features spaces for formal and casual moments to fit your life's needs. Host a dinner party in the dining room or turn on a movie with loved ones in the family room. Do you love to cook? The kitchen will suit all of your culinary ventures. It is upgraded to capture both form and function with stainless steel appliances, granite countertops, and abundant storage space. Just off of the living room there is a den ideal for a game room or billiards table; it even has a bar. And if you are in need of a quiet space to yourself, the study is perfect!
When it comes time to unwind, venture upstairs and all of your stress will melt away. The master suite is immaculate and reminiscent of a resort getaway. There's so many place to relax: on the private balcony, fireplace, or master bath. The master bathroom will allow you to have a spa day every day. In addition, the master suite includes a grand walk-in closet and even a washer and dryer for added convenience.
This home was made for entertaining inside and out. Summer barbecues, pool parties, and garden parties are right at your fingertips. Step outside onto your expansive covered patio and take in the breathtaking views. Sit down with a chilled drink and a good book in the shade for a quiet retreat or turn on some music and fire up the grill for a day of fun and food. The summer kitchen is the ultimate luxury. This backyard has all of the space and amenities that you desire for sunning, swimming, dining, and more.
Living at PGA National is a dream! The community offers top of the line amenities to its residents, such as access to golf courses, tennis courts, spas, a resort pool, great dining, and more. Feel free to just go on a walk or a jog and soak in the beauty of it all. And for the golf enthusiast, with multiple courses, you will never lack variety at tee time. The best part is that you will never feel tied down, membership is optional.
What the seller says...
The seller loves this wonderful home and would like to share why.
What do you love about your city?
"There is always something to do in Palm Beach Gardens. We love being outside, so being this close to the beach is amazing. There is also a nature preserve out west where we love walking around and just soaking in the beauty. The city itself has a lot of local flair. We enjoy going downtown and perusing along shops and cafes."
What do you love about your neighborhood?
"PGA National is the perfect escape. The old trees that line the streets create a whimsical atmosphere. The neighborhood is quiet and completely safe, too. We have never had any issues and we can even leave our doors unlocked. PGA National's club is unmatched. We can always go for a delicious meal, whether it is brunch, lunch, or dinner. And we love that the pool and spa are just minutes away, it is like having a 5-star retreat in our backyard. Plus, the golf courses are incredible. The Honda Classic Golf Tournament is hosted here every year and we love the excitement that surrounds the event."
What do you love about your home?
"The layout is one of our favorite aspects of the home. We love opening the french doors and making the large downstairs feel even bigger. We are always inviting friends and family over for dinner parties and gatherings, and the openness of the space is perfect. The patio is our favorite place to lounge in the house. We can fire up the grill and do a cookout, or just sit, relax, and enjoy the view. The view of the golf course is always beautiful, but especially breathtaking at sunrise and sunset. We can see it from the balcony, too. And for those hot summer days, having our own pool is great."
What are your favorite things to do near your home?
"We love going to the beach. We are fortunate to have a beautiful and clean beach just minutes away. And there are some great restaurants downtown and along the coast. In our neighborhood, we love to take advantage of the golf courses. We are avid golfers and the courses at PGA are used frequented by professionals."
What sold you about your home?
"The view is positively breathtaking; it is as if the rolling hills and the green are never-ending. We love the layout of our home and the uniqueness of it. There are small details all over that really make the home special. Like the finishes, the high ceilings, the floors, the grand staircase and foyer. We love the large outdoor patio, especially for entertaining."
What is the one thing that a potential buyer should know about your home?
"PGA National feels like a small neighborhood. The people we have met on our street, at the club, and on the golf courses are wonderful. The community has a lot of natural beauty and elegance. The trees, the flowers, and the green are rich and vibrant, and just make anyone walking by feel happy."
This home is a wow! But we know that purchasing a new home also entails moving to a new area. Here are just some of our favorite locations for shopping, dining, and fun in Palm Beach Gardens to get you started.
Sold...Treu Group Real Estate did it again. We sold another home in Palm Beach Country Estates for full asking price. This home was sold in less than 30 days too.
The seller gave us 5 star reviews. Here is what the Palm Beach Country Estates Seller said about Treu Gr
oup Real Estate. "Lisa Treu helped us set a fair price, and we got our full asking price. From the listing process to the closing, their team kept us informed every step of the way, and always responded quickly to our calls, texts and emails. We appreciated their honesty, their thoroughness, and their attention to detail. We highly recommend the Treu Group."
Do you have a special home that deserves special marketing? Your Palm Beach Real Estate Agents have the Exclusive Marketing that will help you get to the closing table with the most money in your pocket. Selling a home is not easy however there is a process to get you the success you desire.
Treu Group Real Estate would be honored to see how we can help you be our next success story.
Love the outdoors? This 5 bedroom, 2 1/2 bath home on a breathtaking 10-acre lot is unique and special. There is so much to love. You might have found your special piece of paradise.
Located in Palm Beach Gardens, this home is ideal if you want room for your animals or love peace and quiet. This is a unique opportunity to own this much land in South Florida! The home itself features a split design that offers lots of space, as well. There are five large bedrooms and even a sun room!
This home was built for enjoying South Florida's year-round tropical weather. Imagine enjoying a resort style pool that is ideal for throwing a party. There is a relaxing waterfall and a spa. Imagine lounging poolside or having a BBQ! Your friends and loved ones will love it here.
In addition, on the ten acres, there is a 1200 square feet pole barn with two garages and two carports made of metal. You have all the room and space for anything you desire. There's also a storage shed and awnings for your boat or RV. Do you have horses? There is plenty of room to make them at home as well.
This property also features mango, grapefruit, and lychee trees, irrigation, and a 10K generator!
You are far from it all and yet minutes to everything you desire too. You can have it all. There are delicious restaurants, great shopping, live sporting events, art festivals, and fun! Here are just a few of our favorite activities that Palm Beach Gardens has to offer:
The Coolinary Cafe is a local gem! This casual restaurant was critically acclaimed in the Palm Beach Post and serves American comfort food with a modern twist.
Spoto's Oyster Bar serves delicious, fresh seafood every day and boasts a fun, lively atmosphere. In addition, the restaurant offers over 30 bottle and draft beers, cocktails, and an expertly crafted wine list.
If you're looking for a cool local coffee shop, look no further! We love Subculture Coffee for their relaxed ambiance and delicious brews. All of their coffee is handcrafted in small batches and fairly and sustainably sourced.
Stop into Alaina's Bake Shoppe & Cafe for decadent desserts or a casual lunch! This cafe offers bake goods that can satisfy your sweet tooth, as well as fresh sandwiches and homemade potato chips.
Love shopping? You will be impressed by the Palm Beach Gardens Mall and adjacent Downtown at the Gardens area. The mall and downtown features everything from luxury brands to casual boutiques, as well as a great selection of restaurants and bars.
Rapid's Water Park is always a favorite for the kid in you! South Florida's largest water park features 30 action-packed attractions including some of the most thrilling water slides.
For sports fans, Roger Dean Stadium is surely a local attraction! This baseball stadium hosts two Major League Baseball teams annually for spring training: The Miami Marlins and St. Louis Cardinals!
Interested in this incredible home? Call the Treu Group to learn more and schedule a private showing!