Barrons Positive on Treasure Coast (Feb, 2012):

Barrons says the Treasure Coast of Florida is a top area for real estate investment.  The gist of their arguement is that the natural migration is away from South Florida’s hustle and bustle and that the Treasure Coast is also a mecca for research growth, as well as, retirees and second buyers.  Barrons published the following table taken from Florida Realtors:

Boomers Heading South!

Mason-Dixon Polling & Research released their Boomer Retirement Plans:  (based upon 78,000,000 Boomers)

1. 58% to buy a retirement home.

2. 96% believe top-quality health care is important.

3. 92% believe affordable housing is a criteria.

4. 86% point to warm year-round weather — Carolinas thru Florida.

5. Affordable recreation was sited by 80% of respondees.

6. 70% look forward to a small town atmosphere.

7. Beaches are important to 60%.

8. PowRE’s research indicates 2.3 million Boomers heading to Florida over the next 13 years.

Happy New Year!

A little perspective of American real estate 2005 through January, 2012 — from leading research firms:

Home Prices 2005 Through 2012 By City

*****

Now available: Inside Hobe Sound: Click Here! (With Pictures of Tiger Wood’s and Celine Dion’s New Homes!

*****

    “Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years …”

National + State News:

NAR and Florida Realtors are reporting a difficult market for 2012:

1. Foreclosures are up 10+% and the Shadow Inventory may double Foreclosures.

2. Home prices are down 5+%, while unit sales are up 10% over 2010.

3. Home owners under water (they owe more on the mortage than the house is worth) are up 7%.  In Florida, about half of all mortgaes are ‘under’.

*****

Case-Shiller
Home prices in South Florida and across the nation fell in September.   Prices in Palm Beach, Broward and Miami-Dade counties fell 01% and 5% compared to a year ago.  The index nationally dropped 4%.   Prices nationwide are where they were in the first quarter of 2003.               

*****

Mandatory Membership Clubs/Communities Home Prices Fall!

Country and Golf Clubs with mandatory membership are seeing dramatic reductions in the value of their home prices.  The difficult economy makes home buyers very sensitive to their Total Cost of Ownership.  These buyers are concerned about mandatory club and HOA fees.  Three Stuart Clubs have seen the price of their homes slide further than other clubs in Stuart who do not mandate membership.

The most obvious case is Pipers Landing, where homes that sold for $500,000 in 2005 are selling for $50,000.  The community places a tax of approximately $30,000 on real estate transactions and then the mandatory club joining fees are $70,000.  Then the golf club dues are approximately $1,300/month.

Willoughby Golf Club and Mariner Sands Country Club have both transaction fees and mandatory club dues.  Their home prices are also falling relative to non-mandatory clubs in the same area; though no where as precipitously as Pipers.

The Realtors Association of Martin County for the period January, 2011 through October, 2011 reports the following results by club/community:

Total Cost of Purchase Analysis Between Mandatory and Non-Mandatory Clubs and Communities:

*****

Thinking about Selling: Click Here for Selling.

Thinking about Buying: Click Here for Buying.

PowRE Tracks the Best Buys in the Area: Click Here for Best Buys.

Inside Hobe Sound: Click Here