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Neighborhood News
Real Service... Real Results April, 2013 |
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Laura Cole Tana Gaskill
(561) (561)
776-4429 776-4444
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Greetings!
We finally answer the question we get asked so often! "I read in your newsletter that my neighbor's house sold at an incredibly low price. How is this possible?" Read this issue's Real Estate Trends section to undertand why.
Spring is definitely breaking out all over. We have started a new feature called the Flora of BallenIsles. We are truly blessed with the breathtaking variety of our landscaping here. How wonderful to learn a bit more about the incredible beauty around us!
Best regards,
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| REAL ESTATE TRENDS
BallenIsles Sales* 
You have seen it in our newsletter or in the Thursday reported sales in the Palm Beach Post. The price on a recent property sale in your neighborhood seems ridiculously low. Did the buyer steal the house? Is my neighbor telling a big fib when he swears he sold it for much more? Will this hurt my chances of refinancing my current mortgage? How do I know how to really prcie my house if I want to sell?
Here's why you cannot always rely on a reported sales price. Many factors can reduce the actual contract sale price. Take the example of a property sale with an agreed price between buyer and seller of $500,000. If the house was fully furnished, the attorneys involved may feel a reduction of up to 20% ($100,000) for personal property is acceptable. The buyer agrees to pay the seller's closing costs. This can include full 6% commission on the agreed sale price ($30,000), Florida documentary tax ($2800) and title insurance ($2000) on the net sale price less personal property. When the buyer pays the sellers closing costs, the seller nets the same proceeds from the property sale but the recorded sale price for the property is lower which can be provide future tax benefits to the buyer. Under the above scenario, a house that had a contract price of $500,000 could show a recorded sale price of $367,200!
As for this effecting the refinancing of a mortgage, we get calls from appraisors all the time asking for details on recent property sales in which we were the listing agents. The first thing we mention is any seller concessions not reflected in the recorded price. And as experienced Realtors, its our job to know the true pricing in today's complicated and sometimes confusing market. CALL US.
BALLENISLES SALES - MARCH
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ADDRESS |
BR |
BA |
SOLD $ |
ORIG. $ |
DATE |
MKT TIME | |
132 VINTAGE ISLE |
4 |
4.0 |
$624,000 |
$699,000 |
03/08/2012 |
68 | |
134 SAN MARCO DRIVE |
3 |
3.0 |
$670,000 |
$699,000 |
03/13/2013 |
7 | |
147 ORCHID CAY |
3 |
3.0 |
$343.213 |
$545,000 |
03/18/2013 |
138 | |
1002 GRAND ISLE WAY |
3 |
4.5 |
$700,000 |
$769,000 |
03/21/2013 |
48 | |
1113 CRYSTAL DRIVE |
3 |
4.0 |
$649,000 |
$678,900 |
03/29/2013 |
71 | |
52 ST JAMES DRIVE |
3 |
4.0 |
$755,000 |
$859,000 |
03/29/2013 |
1151 |
*This representation is based in whole or in part on data supplied by the Realtors Association of the PalmBeaches or its Multiple Listing Services thru 04/08/2013.
To learn more about current Real Estate trends in BallenIsles, click on the links below.
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FEATURED PROPERTY
NEW LISTING 162 Sunset Bay Drive
This beautiful home is on a corner lot overlooking the lake and bridge and would make an ideal vacation home in paradise with 2 bedrooms plus a convertible bedroom 3/library, 2 full baths and a separate powder room. Features include heated pool and spa, stunning remodeled master bath, open kitchen/family room area, formal dining area, new kitchen cabinets, paver stone patio and lovely views. The heated neighborhood pool is just a short stroll away and designer furnishings are negotiable. Enjoy all the fabulous BallenIsles amenities and superb location at a very affordable price! Minimum social membership ($45,000) purchase required. Other membership levels available. Call us, to view this desireable home!
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The Flora of BallenIsles
You may have moved into your BallenIsles home and questioned what that gnarled dead-looking tree in your front garden was. You may have even asked the landscaper to find a replacement for what appeared to be a defunct specimen! What a surprise in late March or early April to see glorious, golden yellow blossoms against the bright blue sky adorn your property.
An ideal patio, specimen, or lawn tree, the Tabebuias are small, 15 to 25-foot tall, evergreen trees with silvery foliage and deeply furrowed, silvery bark on picturesque, contorted branches and trunk. The crown is usually asymmetrical with two or three major trunks or branches dominating the crown. During late winter and sporadically throughout the year, they put on a brilliant display composed of a multitude of two to three-inch-long, golden yellow, trumpet-shaped blooms borne in terminal flower clusters. The leaves often drop just before the flowers appear.
A native of tropical America, Trumpet Tree can be grown in full sun or partial shade on any reasonably fertile soil with moderate moisture. Trees should be protected from frost. Although some will leaf out following a freeze, the tree is often weakened and grows poorly. The wood becomes brittle with age and can break easily in strong winds but this is not usually a problem since trees are small with an open canopy and should not be cause to eliminate this beautiful tree from your tree palette. To the contrary, it is one of the most beautiful trees in flower which has a place in most landscapes. |
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