January 2016

Found 5 blog entries for January 2016.

The Marotta Realty Group is extremely proud to announce that Vince Marotta will host the "CBS 12 Mansion of the Week."  This weekly program will highlight mansions in the greater Palm Beach, Florida area from Jupiter to Boca Raton, and Wellington to Palm Beach.  Each week, Mr. Marotta will bring the viewing audience to a different location and introduce them to a spectacular estate for sale.  Working together with the listing agent for each property, Mr. Marotta and his guest realtor will walk the property while explaining the key features and custom finishes that truly classify that estate as a "mansion."  Luxury oceanfront penthouses with private roof top terraces, unique properties in the most exclusive golf course communities, grand oceanfront

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The Marotta Realty Group just listed 215 Bear's Club Drive, Jupiter, FL 33477 in the estate section of The Bear's Club for a record asking price of $6,950,000.  This vacant lot # 10 is the largest available building site in the community that is directly on the championship golf course.  Located on the 4th hole, views to the Southeast capture much of the golf hole and water views from the tee to the landing area of members' drives.  The site is 1.47 acres.

Vince Marotta, the listing Broker Associate, describes this property as "the finest building site in Palm Beach County."  He goes on to say "some people prefer living directly on the ocean, but lot prices there are double or triple this price for a comparable size piece of property, and many folks

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The numbers speak for themselves - Admiral's Cove, The Bear's Club, and Old Palm Golf Club dominated 2015 ultra luxury sales (not including properties that are directly on the ocean) in the Northern Palm Beaches.  In order to set geographic boundaries that most accurately displayed the numbers for 2015 luxury property sales that were not located on the ocean, I drew a map around the following area:  Indiantown Road (northern boundary); US. Hwy. 1 (eastern boundary); Northlake Blvd. (south boundary); and the Beeline Highway (west boundary).  Once the map was set, I looked at all closed sales over $1M in the Multiple Listing Service for that geographic area.  Based upon that data from the MLS, here's a few facts to support my claim:

  • The top 3 sales in
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Now that 2015 is in the rear view mirror, it's important to look at the detail behind the numbers with respect to Singer Island Condo sales.  The first thing that jumps out at me is how much values have increased at the high-end of the market in this oceanfront community.  For example, in 2014, the highest priced condo sale on Singer Island was $3.8M, and there were a total of 13 sales over $2M.  In 2015, the highest price sale was $8.95M, and there were a total of 18 sales over $2M with one sale at $4.5M and two sales at just under $9M.  That's a 38% increase in sales over $2M in just one year.

Here's a general look at the overall Singer Island Condo market:  There were 221 total sales in 2014, and 214 total sales in 2015.  Even though that's a 3%

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The housing market in the United States continues to strengthen, and as it does, the total value of homes in the U.S. has increased to a total value of $28.5 trillion dollars.  That's a 4.1% increase year-over-year from 2014.  The growth in 2014 was 6% from the prior year.  That means the total value of the U.S. residential market has grown by more than 10% in two years.

Since the low of the real estate depression in December of 2011, the market value has gained $5.3 trillion dollars, but is still $782 billions below it's market high of $29.2 trillion in October of 2006.

Home values are not distributed equally across the country.  For example, California makes up about 12% of the U.S. population, but due to high property values in some cities like

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