<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="http://www.bocahome.com/blog/real-estate-news/rss/" rel="self" type="application/rss+xml" />
        <title>Boca Raton Real Estate News</title>
        <link>http://www.bocahome.com/blog/real-estate-news/</link>
        <description>Visit our Boca Raton real estate blog for up-to-date events and current home buying or selling advice. Boca Raton, Florida is a hot spot in today real estate markets.</description>
        <item>
            <guid>http://www.bocahome.com/blog/boca-raton-realty-now-is-the-time-for-you-to-strike-gold.html</guid>
            <link>http://www.bocahome.com/blog/boca-raton-realty-now-is-the-time-for-you-to-strike-gold.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>Boca Raton Realty – Now is the Time For You to Strike Gold</title>
            <description> <![CDATA[ 
Have you always dreamt of owning tropical, waterfront property? Maybe you'd love to add a vacation home to your real estate portfolio, either for personal use or profit? Boca Raton boasts some of the most luxurious communities in the nation, but that doesn't mean you can't find a good deal.


What is the Real Estate Market Like in Boca Raton?


Boca Raton is in a strong buyer's market right now. The recession of the past decade has made the housing market somewhat volatile, and Boca Raton has not been at all immune to that. However, this doesn't have to be a bad thing for you. In fact, with more foreclosures and short sales than ever, you're quite likely to find that rock-bottom deal that leaves you smiling for weeks afterwards.


When people need to liquidate their property, they're willing to reduce their asking price by leaps and bounds. This is why Boca Raton is a goldmine for anyone with a stable budget; if you know you can afford it, there's prime real estate to be had for extremely attractive prices.


Where Do You Find the Best Deals in Boca Raton?


Thanks to the huge amount of foreclosures sweeping across Florida, you can find houses for sale by the bank that are marked well below their real value – This is called a short sale, and it's when the bank is willing to take an overall loss to recoup at least a portion of their investment. When a bank forecloses on a property, they're sole concern is turn around time; they want to recoup as much of their investment as possible, sure, but they also want to do it as fast as possible. Keep an eye on the market in Boca Raton for a couple weeks and you'll see exactly what I mean.


Condos are another area that could potentially be very profitable for you. The nice thing about buying a condo is that you can find them for under $100K, which is basically unheard of for a house in Boca Raton. Condos are great for the investor because while you're waiting for your property values to spike you can actively recoup your investment via rental.


Important Tip to Finding Your Dream House in Boca Raton


The last thing I want to do is stress the importance of patience when browsing the real estate listings in Boca Raton. You'll be shocked at how many owners will start slashing their original asking price after a few weeks...Sellers feel anxious in this economy and don't like having a listing just sitting around without seeing any interest. So, if you see a house you like, just sit on it a couple weeks. See what happens; you might be pleasantly surprised.


All in all, Boca Raton is an excellent investment opportunity for those who can afford it in this rough economy. A strong buyer's market combined with prime waterfront property and a wide array of country clubs mean you have lots of opportunities to strike gold on the Gold Coast.
 ]]> </description>
            <pubDate>Wed, 25 Apr 2012 23:56:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/recent-information-on-florida-foreclosures.html</guid>
            <link>http://www.bocahome.com/blog/recent-information-on-florida-foreclosures.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>Recent Information on Florida Foreclosures</title>
            <description> <![CDATA[ 
A recent announcement from the Federal Housing Finance Agency confirmed that mortgage loan delinquencies in the State of Florida outnumber every other state except California.  Currently, 166,000 homeowners in Florida have been delinquent on their loans for a year or more.  In California, there are 174,000 total delinquencies.  Some help has been given to delinquent homeowners and more aid is supposed to be coming. 


In the State of Florida, there were 119,113 loan modifications in 2010 and 2011.  Also, more than 56,550 short sales or deeds-in-lieu of foreclosure were facilitated.  A short sale means that the proceeds from the sale of a home will not be enough to cover what is owed to the lender.  The lender agrees to accept less than the amount owed on the debt.  This may not fully release the borrower from his responsibility to repay this debt.  Unless there is an agreement negotiated between both parties that fully release the borrower from this responsibility, he may have to repay this debt in the future.  A deed-in-lieu of foreclosure is a deed in which the borrower conveys all interest in real property to the lender to satisfy the loan.  In this way the borrower is able to avoid foreclosure.


More aid to struggling homeowners is coming.  The recent Bank Settlement Program set aside a significant amount of money to help Florida homeowners. Under the terms of this program (and a special side agreement that only Florida and California received), the State of Florida will receive eight billion dollars in aid.  The banks have agreed to reduce loan amounts on first and second mortgages, follow through on short sales whenever possible, and grant deed-in-lieu of foreclosure instead of foreclosing on needy homeowners.  It is hoped that this will help stem the tide of foreclosures that are currently flooding the Florida market.  The sheer number of these “distressed homes” is helping to keep real estate prices depressed in the State of Florida. 


It remains to be seen whether the terms of the Bank Settlement Program will be enough to turn things around in the State of Florida.  Many families have lost their homes and faced financial ruin because of the recent recession in the housing market that spread to other areas of our economy.  Other areas of the economy are slowly improving, but the housing market has lagged behind.  Hopefully the Bank Settlement Program will begin to make a difference.
 ]]> </description>
            <pubDate>Sat, 07 Apr 2012 18:48:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/new-record-high-sale-of-1150000-in-broken-sound.html</guid>
            <link>http://www.bocahome.com/blog/new-record-high-sale-of-1150000-in-broken-sound.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>New Record High Sale of $1,150,000 in Broken Sound!</title>
            <description> <![CDATA[ 
Champagne &amp; Parisi Team of Lang Realty Sets New 18 Month Record High Sale of $1,150,000 in Broken Sound Country Club!





When you want your home SOLD, Call Claude or Caesar today at 561-703-4727 or 561-715-8630.


If you would like to subscribe to our weekly Broken Sound or Addison Reserve videos, Please use the contact form below and let us know which video. 


Have a great weekend!


#form-contact#
 ]]> </description>
            <pubDate>Fri, 30 Mar 2012 18:54:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/excellent-housing-buys-can-still-be-had-in-south-east-florida.html</guid>
            <link>http://www.bocahome.com/blog/excellent-housing-buys-can-still-be-had-in-south-east-florida.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>Excellent Housing Buys Can Still be had in Boca Raton, Florida</title>
            <description> <![CDATA[ 
Economic news in the United States is increasingly more positive.  The Dow Jones Industrial Average recently soared above 13,000 and the unemployment rate is slowly decreasing.  Many economists feel that these milestones indicate that the American economy is beginning to come out of a lingering recessional era.  Most experts believe, however, that the housing market will be slower to respond to the improving economic climate. 


As most people are aware, certain areas of the United States were disproportionately affected when the housing market crashed in late 2006 and 2007.  Florida was one of the hardest hit states.  Consider that during the 1990s and early 2000s, home prices in Florida were ten percent above the national average.  In 2005, the average home price in Florida was nineteen percent above the national average!  Since late 2010, however, home prices in Florida have lagged about twenty percent below the national average. It has been a truly stunning reversal of fortune.


For several years now it has been a buyers’ market.  This is because homeowners and investors have been forced to sell real estate they purchased at the height of the financial boom.  Many of these properties, especially in Florida and a few other states, are “upside down.”  This means that the owner owes more on the mortgage than they can get when selling the home. Because many homeowners also lost their jobs due to the recession, they are no longer able to afford to stay in their homes.  This also holds true for individuals who bought property in Florida for investment purposes. Unfortunately, most of the aforementioned property owners have had to sell their homes at a substantially reduced price or face foreclosure. 


There’s been a great deal of misfortune and personal family tragedy associated with this situation.  Foreclosures in many areas of the United States have been rampant, but this is especially true in Florida.  For example, the Palm Beach County Clerk reported that there were 1,198 new foreclosures in February of 2012.  That’s up 58.5% from the same month in 2011.  Obviously, the sheer number of these foreclosed homes will work to keep real estate prices depressed for the foreseeable future.  Housing market experts predict that the price of the average home in Florida won’t come close to the national average for at least two years. So, for those who are interested in buying a home in one of the most desirable areas of the United States, 2012 should provide the perfect opportunity!


If you are in the Market to sell or buy real estate in Boca Raton, please use our contact form below or call us.


#form-contact#
 ]]> </description>
            <pubDate>Mon, 26 Mar 2012 07:01:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/florida-to-receive-extra-money-under-the-bank-settlement-program.html</guid>
            <link>http://www.bocahome.com/blog/florida-to-receive-extra-money-under-the-bank-settlement-program.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>Florida to Receive Extra Money Under the Bank Settlement Program</title>
            <description> <![CDATA[ 
President Obama recently announced the terms and conditions of the national bank settlement program.   The banks are participating in the plan to provide redress for their part in the “robo-signing” scandal.  Two states, Florida and California, were able to obtain special considerations from the five major banks involved in this settlement.  In Florida, the banks will be required to pay a monetary sum that is in addition to what the state will receive under the terms of the national plan.  Under the provisions of this side-deal, Florida will be allotted an additional 1.8 billion from Bank of America, 1.2 billion from Wells Fargo, and 1 billion from J. P. Morgan Chase.  This will provide Florida with a total of 8 billion dollars to aid struggling homeowners and help them avoid the foreclosure process.


The deal that Florida struck with the banks is very similar to the national plan; the only difference is that Florida will receive more money than it would have been entitled to under the terms of the national plan. Both plans will provide credits to banks for reducing the loan amounts on first and second mortgages, for following through on short sales whenever possible, and by granting deeds-in-lieu of foreclosure.  It is hoped that this will help stem the deluge of short sales and foreclosures that are flooding the Florida market.  The sheer number of these “distressed homes” is helping to keep real estate prices depressed in South Florida.


In addition, after a short sale or foreclosure, the borrower is typically left with a deficiency judgment. This means that the borrower has to pay the lender the difference between what the lender was paid (under the terms of the short sale or foreclosure) and what was actually owed. A considerable amount of money may be involved.  In effect, this means that the borrower’s responsibility does not end with a short sale or foreclosure.  The financial stability of the buyer may be compromised long after he has ceased to own a distressed property.  Under the terms of the national bank settlement, the banks will receive credits for not imposing these deficiency judgments.


The banks involved in the national bank settlement are responsible for implementing the above provisions within a specific time frame.  Seventy-five percent of the obligations have to be completed within two years and one hundred percent have to be completed within three years.  If a bank fails to meet these deadlines, it will be assessed millions of dollars in punitive damages.  This would be in addition to the amount of money the bank has already agreed to pay.  Hopefully, this bank settlement program will help alleviate some of the difficulties faced by homeowners, and the Florida real estate market will begin to rebound.
 ]]> </description>
            <pubDate>Thu, 22 Mar 2012 08:25:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/the-housing-market-in-palm-beach-county.html</guid>
            <link>http://www.bocahome.com/blog/the-housing-market-in-palm-beach-county.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>The Housing Market in Palm Beach County</title>
            <description> <![CDATA[ 
President Obama recently unveiled a plan to help homeowners who owe more on their homes than their homes are worth (This is commonly referred to as being “underwater.”).  The President announced that his administration and several major mortgage lenders (such as Bank of America and J. P. Morgan Chase) have reached an agreement to provide aid to these owners.  The banks are participating in the plan to provide redress for their parts in the “robo-signing” scandal.  Under this arrangement, the banks have consented to reduce some of the principal on many  “underwater” homes.  In addition, homeowners who qualify will be able to reduce their interest rates and take advantage of the current historically low rates.  This may provide a measure of relief to struggling homeowners, but most housing market experts agree that it is only a beginning.  The recession in the housing market is not going to go away over night.


In Palm Beach County – home to Boca Raton – more than a quarter of the homes sold in 2011 were either a short sale or bank owned properties (often referred to as “distressed” homes).  This statistic is in line with both Florida (22%) and national (23%) statistics.  In February of 2012, nearly 1200 Palm Beach County homeowners went into foreclosure.  There will most likely continue to be many foreclosed homes entering the marketplace in the coming months.  The banks have largely resolved paperwork snafus that kept many foreclosed homes off the market for an extended period of time.  These homes will now be released for sale.


Many market economists are predicting, however, that lenders may be less likely to foreclose on properties in the future.  They maintain that 2012 will be the year of the short sale.  They are predicting this because it is quite costly for a bank to foreclose on a property.  It can be very expensive to evict current owners from the home, complete the necessary paperwork, and maintain the property.  Also, many cities and municipalities are beginning to pass laws that require banks to adequately maintain the foreclosed properties they own.  This is because many abandoned properties have been vandalized and ill maintained.  They are considered community eyesores.


The upshot of all this is that there will be more distressed homes on the market in 2012.  In addition, the banks will be more likely to have made necessary repairs to these homes in an effort to appease municipalities and attract approved buyers.  Hence, 2012 should provide prospective buyers with an unprecedented opportunity to score a phenomenal piece of property in South Florida - and at an extremely reasonable price! 


 


#blog-foreclosures#
 ]]> </description>
            <pubDate>Sat, 17 Mar 2012 05:03:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/theres-a-restaurant-to-suit-every-palate-in-boca-raton.html</guid>
            <link>http://www.bocahome.com/blog/theres-a-restaurant-to-suit-every-palate-in-boca-raton.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>There's a Restaurant to suit every palate in Boca Raton</title>
            <description> <![CDATA[ 
There are a plethora of restaurants to choose from in Boca Raton.  There’s Chinese, barbecue, South American, Thai, fusion, Japanese, German, Turkish, Indian, Greek, French, Vietnamese, and Italian.  The list goes on and on! And that’s just the immediate Boca Raton area.  Within a twenty-five mile radius, there are even more varieties to be found.  No one ever has to crave good food in South Florida.  It’s usually only a stone’s throw away!  And if you ever want to get a sense of how popular and reasonable many of these restaurants are, check out the parking lots during the early bird special time slots (usually between 4:00 pm to 6:00 pm.). Excellent food at reasonable prices obviously appeals to many people!


The immediate Boca Raton area hosts such nationally recognized chains as P. F. Changs, The Cheesecake Factory, Capial Grille, Morton's, and T. G. I. Friday’s.  Many people enjoy the delicious fare offered at these nationally popular restaurants.  Most restaurants in the region, however, do not belong to chains.  They are privately owned, local restaurants that cater to individuals who enjoy fine food. The Dubliner Irish Pub is one such restaurant.  It’s located in Mizner Park, an open-air mall.  It’s possible to eat inside in the attractively decorated pub or outside in the attractive Florida weather. It’s your choice.  And if you eat outside, Fido is welcome to accompany you.  In fact, “man’s best friend” may be served some water and a choice morsel before you’re served! The Dubliner serves Irish food at reasonable prices.  It represents casual family dining at its best.


For the health or weight conscious, there’s Season’s 52.  At this trendy restaurant, there are no meals over 475 calories.  Full nutritional information is available.  The restaurant is particularly famous for its flat bread pizzas.  People come from miles around to partake of these tasty, healthy “indulgences.”  There are also a variety of desserts.  They are served in tall shot glasses and clock in at about 250 calories each.  There’s not even a need to feel guilty!


As can be seen, there truly is a Boca Raton restaurant to suit every palate in the greater Boca Raton area.  So check out the Internet, talk to acquaintances, or look in the newspaper and other regionally produced publications.  You’re sure to find a restaurant that tickles your fancy in Boca!
 ]]> </description>
            <pubDate>Tue, 13 Mar 2012 14:42:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/disclosing-distressed-homes.html</guid>
            <link>http://www.bocahome.com/blog/disclosing-distressed-homes.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>Distressed Homes - Palm Beach Real Estate</title>
            <description> <![CDATA[ 
It is projected that more distressed homes – short sales or homes in foreclosure – will enter the Palm Beach real estate market in 2012.  This is due to a confluence of factors, but the result is that there may be just as many or even more distressed homes on the market than regular sales.  Obviously, this provides opportunities for the discriminating buyer to find that “dream home” at an affordable price.


However, not all buyers are interested in buying a distressed home.  In fact, for a variety of reasons, some buyers actively avoid such homes. Buying a short sale home (a home where the owner owes more than the home is worth) can be a lengthy and complicated process. The mortgage lender wants to obtain the highest possible price, so they often insist on waiting for multiple bids.  This has sometimes extended the home buying process for unreasonably long periods of time.  When a home is in foreclosure, the previous owners have oftentimes abandoned the home. This has lead to properties that have either been vandalized or ill maintained. The bank is responsible for such homes, but sometimes fails to meet this responsibility. Most buyers are aware that foreclosed homes are often sold “as is.” And some buyers don’t want the headaches that can come with such a purchase.


In Palm Beach County as in most of the United States, home are listed through the Multiple Listing Service (MLS). Recently a Palm Beach newspaper, “The Palm Beach Post,” claimed that many banks, like Wells Fargo, were discouraging the MLS from disclosing that a property was bank-owned.  Many lenders feel that there is a pervasive public stigma against such properties. They believe that the perception is that such properties are always damaged and in need of major repairs. As the banks are quick to point out, this is not always the case. Now-a-days banks are doing more to repair such homes before putting them on the market.


In some parts of the United States, the MLS requires that the listing fully disclose who owns the property. But until recently, this has not been the case in Palm Beach County. Agents would show properties to prospective buyers without necessarily knowing whether they were short sales or foreclosed properties. This made it difficult to direct buyers interested in such properties in the right direction. And it wasted the time of buyers who had no interest in such properties. However, beginning in early March, the regional MLS, which services Palm Beach County is requiring full disclosure. This is a boon to buyers, as the real estate agent can now focus on properties that better meet their needs and requirements. 


Palm Beach &amp; Boca Raton Real Estate


#boca-gated-communities#


 
 ]]> </description>
            <pubDate>Mon, 12 Mar 2012 20:19:00 -0400</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/distressed-homes-in-south-florida.html</guid>
            <link>http://www.bocahome.com/blog/distressed-homes-in-south-florida.html</link>
            <author>admin@bocahome.com (Caesar Parisi)</author>
            <title>Distressed Homes in South Florida - Boca Raton Real Estate</title>
            <description> <![CDATA[ 
The housing market is again beginning to pick up in South Florida.  Historically low interest rates and low housing prices are driving the surge in sales.  It is still possible to purchase foreclosure homes and short sale homes at drastically reduced prices, but the supply is dwindling. If anyone is interested in buying a home at bargain basement prices, the time is now. 


According to the “Bloomberg Report,” homes in or nearing foreclosure accounted for 24% of housing sales nationwide in the last three months of 2011.  People are always looking for a bargain, particularly for such a costly purchase as a new home.  Also, there has been a delay in banks disposing of foreclosed properties because of federal and state investigations into flawed bank foreclosure documentation.  The banks have since resolved most of these situations.  For these two reasons, foreclosure-related sales are expected to increase in 2012. 


For those interested in purchasing a foreclosure property, a systematic approach is best.  First and foremost, a prospective buyer should obtain preapproval from a lending institution.  Attractively priced properties in good condition can sell extremely quickly.  If a purchaser waits until after he has found his dream home, it may take too long to obtain financing and he may miss out on the sale.  It’s also important to find a real estate agent who works directly with the banks that own foreclosed properties.  Such realtors usually have a relationship with the banks and this may help facilitate a sale.  In addition, such a realtor may have knowledge of possible foreclosures that haven’t even been listed yet.


Before going out to look at properties, it’s helpful to visit an Internet site that details foreclosed homes in the area of your interest.  Such sites provide a great deal of information about the home as well as pictures and virtual tours.  This helps to narrow down your search.  It also provides a frame of reference in terms of what comparably priced homes in a certain area are selling for. Such sites also disclose how long a home has been on the market.  No matter what the bank is asking for a home, if it has been on the market for a long period of time there is some wiggle room in terms of price.


Once you have completed all of this “due diligence” and found a home you like, make sure the house is structurally sound.  Cosmetic fixes are not expensive; structural fixes can be exorbitant.  As most foreclosed homes are sold “as is,” it’s very important to assess the condition of a home before making a purchase offer.  There remains a large inventory of homes at discounted prices, so it’s still possible to find the home of your dreams. 
 ]]> </description>
            <pubDate>Fri, 09 Mar 2012 10:14:00 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.bocahome.com/blog/whats-hot-in-real-estate-right-now.html</guid>
            <link>http://www.bocahome.com/blog/whats-hot-in-real-estate-right-now.html</link>
            <author>lisa@bocahome.com (Lisa Hayes)</author>
            <title>What's Hot In Real Estate Right Now</title>
            <description> <![CDATA[ 
I hear it everyday...everyday. "Lisa, I want the most bang for my buck." Everyone wants to "get a deal." But guess what? Practically everything on the market right now is a "deal." Compared to where the prices were back in the hay day of real estate, in that crazy, mixed up, unrealistic time period, where there were multiple offers on houses sold for way above the listing price, and everyone and anyone could buy, it's all a deal. It's a deal because prices are where they should have been, making more sense and are predicted to get even better. But whats hot right now is what's been hot for the last couple of years, short sales and REO's, or bank owned properties. Yes, I know a lot of people are shying away from short sales, and trust me, they are not my favorite to deal with either, because of the amount of time they can take, but if you want to get a great deal...patience is a virtue! You can get a house 50% off if you are ready to go through the process and wait....wait....wait. What people forget is to get that great deal, you have to put in the offer...because if you don't, someone else will, even if they have to wait.


So, as we get started on this New Year of 2012, remember, now is the time to buy. Prices are great, and the future is looking good. If you want the deals, they are out there, start looking and find the deal! Call me, Lisa Hayes, for all of your South Florida Real Estate needs.





Lisa Hayes


Realtor


Champagne &amp; Parisi Team


Lang Realty


561-506-9626Lisa@BocaHome.comwww.BocaHome.com


 


 


 
 ]]> </description>
            <pubDate>Mon, 09 Jan 2012 21:43:02 -0500</pubDate>
                    </item>
    </channel>
</rss>
