Any Good Deals Left in West Palm Beach??

Prices have been going up, and inventory is shrinking. But there are still some
good opportunities in West Palm Beach.

The list of FOURTEEN condo residences below includes buildings that were
constructed in West Palm Beach since 2001 except
- One Watermark Plaza - on the intracoastal with prices ranging from $2.950mil to $8.9million
- Esplanade - also on the Intracoastal - where asking prices range from $599K to $3.75Million
- 101 Lofts which has two active listings  of 1/1 - listed at $320K and $325
- Villa Lofts with one listing, offered at $269K

PLEASE NOTE:  City Place Tower and Courtyards, Flagler Pointe,
Montecito, a the Strand are condo conversions.

In my opinion, the best buildings in the bunch in terms of quality, amenities,
and luxury standards are CITYPLAZA (buildings one and two) and South Tower, with the most potential to appreciate, based on current available opportunities.
For more information call Mazor Realty at 561-998-9500 or email Info@MazorRealty.com
(Please note: This is an opinion and in no way investment advice or recommendations to invest.)

1. 610 Clematis
http://www.mazorcondos.com/WPB/610clematis/index.htm

Only 1 unit for sale, listed for $218,500
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=248784081&s=RML&t=RML

2. City Palmshttp://www.mazorcondos.com/WPB/CityPalms/index.htm 

Two - 1bedroom units, listed for $170K and $233,900
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=996115228&s=RML&t=RML

3. CityPlace Tower and CourtyardsBuilt in 2001 - No one bedrooms for sale at this time. Great location, but units are not all that upscale
http://www.mazorcondos.com/WPB/CourtyardsCP/index.htm

There are two bedroom untis for sale but there are Four 2/2 units for sale under
$200K (Ranging from $139,500 to $199K)
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=243284791&s=RML&t=RML

4. CityPlaza (One CityPlaza and Two CityPlaza)
http://www.mazorcondos.com/WPB/cityplaza/index.htm

Only three one bedroom units under $200K
The lowest (my listing) - for $159K asking for two story loft. Renter in place paying $1200 per month (lease ends end of Nov, may renew, depending on job)
The others are a bit large, listed for $195K and $198K
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=225966625&s=RML&t=RML

5. Edge
http://www.mazorcondos.com/WPB/edge/index.htm

Not in down town, but rather on Clear Lake to the west of CityPlace
One 1-bedroom unit listed for $135K
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=401899948&s=RML&t=RML

6. Flagler Landing - About TWO MILES north of down town West Palm Beach,
community is on the Intracoastal
http://www.mazorcondos.com/WPB/FlaglerLanding/index.htm

One 1- bedroom is listed for sale, a SHORT SALE, at $119,900
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1037730022&s=RML&t=RML

7. Flagler Pointe (Like CityPlace tower and courtyards, Montecito, and the Strand - this is a rental building that was converted to private ownership)
http://www.mazorcondos.com/mazorcondos/WPB/FlaglerPointe

Only ONE 1-bedroom for sale - not short sale. listed for $130K
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=680095305&s=RML&t=RML


8. Metropolitan
http://www.mazorcondos.com/WPB/Metropolitan/index.htm

No one bedroom units for sale
Least expensive 2 bedroom for sale listed for $199,000

9. MontecitioRental conversion, west of CityPlace - not in the heart of down town
http://www.mazorcondos.com/WPB/Montecito/index.htm

No one bed units for sale
Only two 2-bedroom for sale listed for $159,900 and $169,900

10. PRADOhttp://www.thepradowpb.com/

No one bedroom untis for sale
Least expensive available for sale 2-bedroom $259,900

11. Slade (One mile north of Okeechobbe - the main road of down down WPB - on the intracoastal)
Monthly condo fees larger than most - at around $600 +/- depedning on size - for one bedroom unit
http://www.mazorcondos.com/mazorcondos/WPB/slade/

Three one bedroom units currently listed under $200K -- $119K, $129K, and $179K
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1672629385&s=RML&t=RML

12. SOUTH TOWER AT CITYPLACE - Luxury condo tower - great location across
street from CityPlace
NEWEST building in down town West Palm Beach, equal inluxury to CityPlaza, and
more luxurious that all the others
http://www.mazorcondos.com/WPB/SouthTower/index.htm 

Currently, there are THREE one-bedroom units (re-sale) listed for $199K, 209K,
and $267K
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1672274754&s=RML&t=RML

HOWEVER there are some DEVELOPER one-bedroom UNITS with renters installed.
offred between $170K to $183,500 (I believe I can negotiate the price down to
the $150s and $160s)

These units have RENTERS IN PLACE - paying $1,311 to $1,l535 per month.

(Developer has two - two units asing prices ranging from $269K to $507K -
depending on size and view, and three bedroom-two bath units ranging in price
from $429K to $583K)

Condo fees are 50 cents per square foot per month, which is about $400 a month
for the one beroom units.

13. Strand
Rental conversion - located down town, close to the Intracoastal.. Some units
have nice views.
http://www.mazorcondos.com/WPB/strand/index.htm

Two 1-bedroom units listed for $145K and $175K
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=771638759&s=RML&t=RML

14. Whitney
Good location, a block east of CityPlace
Building, however, maligned with Chinese Drywalll problems - yet popular, sells
and rents well.
http://www.mazorcondos.com/WPB/Whitney/index.htm

No One-bedroom units listed under $200K.... Least expensive one bedroom unit
listed for $226,800
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1960057258&s=RML&t=RML


 For more information call Mazor Realty at 561-998-9500

Or email Info@MazorRealty.com

Marina Village or Promenade?

Marina Village or Promenade?Boynton Beach on the Intracoastal

In September of 2006 the owner of unit #1405 in Marina Village on the banks of the Intracoastal in Boynton beach took ownership of the condo as he paid the Developers, The Related Group, $490,000 plus approximately $10,000 in closing costs.  A half million dollars!

Five years later - the property is back on the market - listed for $279,000.

This Marina Village unit offers beautiful views -- check it out the listing
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=300576718&s=RML&t=RML

At the promenade, a comparable unit with similar views can be purchased at approximately $320,000

Check out the two communities... 

Click the follwoing for information about Marina Village
http://www.mazorcondos.com/Boynton/marinavillage/index.htm

Click the following for information about the Promenade
http://www.mazorcondos.com/Boynton/promenade/index.htm

For more information
Call 561-998-9500Info@MazorRealty.com

Is Now A Good Time to Invest in Boca Raton?

_{The Following Item Appeared in the Florida Business Journal!}

Glenn Gromann to invest $1B in Boca Raton redevelopment projects

July 27, 2011 12:45PM

Real estate development executive Glenn Gromann has announced his intention to invest around $1 billion in redevelopment projects in Boca Raton, the Florida Real Estate Journal reported...  Gromann...  is seeking foreign investment to help in the completion of a mixed-use project nearby, speculatively named the Fountains at Town Center. ..  [and] looking to build two or three boutique hotels in Downtown Boca and on Atlantic Avenue in Delray.

Read full article at  [FREJ]

CHECK OUT BOCA RATON PROPERTIES:

Boca Raton Condos
http://www.mazorcondos.com/BocaRaton/index.htm

Boca Raton Single Family Homes
http://www.mazorhomes.com/MazorHomes1/BocaRaton/BocaHomes.htm

Boca Raton  Town Homes - http://www.mazorhomes.com/MazorTownHomes/bocaraton/BocaTownHomes.htm

OPPORTUNITES:

Distressed and Below Market Boca Grand Listingshttp://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=1146302650&s=RML&t=RML

Bank Owned Unit at Palmetto Place - Boca Raton
http://rmlsfl.mlxchange.com/DotNet/Pub/EmailView.aspx?r=973812213&s=RML&t=RML

 

  ---------------------------------

CURRENT NEW CONSTRUCTION OPPORTUNITIES
--- Boca Raton:  Brand New White-Glove Service Condominium Complex near Mizner Park!
Residences priced from $590,000s and Up - huge reduction off pre-construction pricing.
http://sarahmazor.com/communities/Boca_Raton/MZ00024.htm

--- Boynton Beach:  Brand New Condo on the Intracoastal!
Units priced from $150,000 and Up for One Bedroom units, $240,000s and up for two bedroom units. Way below pre-construction pricing!   Gorgeous Finishes! 
http://www.mazorcondos.com/Boynton/promenade/index.htm

--- West Palm Beach: Brand New Condos in CityPlace! From mid $100,000s and up.
Great location, incredible amenities, steps from Shopping, Dining, Entertainment.
Fabulous Downtown living at Affordable prices!
http://www.mazorcondos.com/WPB/SouthTower/index.htm

-----------------------------------

Has the housing market bounced back?  Housing prices in Florida are still far lower than they were just five years ago.  However, though prices are still at a low, there is more velocity in the market, as short sale, bank owned, and other distressed properties are slowly being absorbed.  According to the latest housing statistics, about 75% of sold and closed units consisted of foreclosed and short-sale transactions. 

DISTRESSED PROPERTY  INVENTORY:
1. Short Sales
2. Bank Owned / Foreclosures
3. Owners selling at loss
4. BRAND NEW - Repossessed Developer Units

 Call 561-998-9500 Info@MazorRealty.com

BEST OPPORTUNITIES in Current Market

Has the housing market bounced back?  Housing prices in Florida are still tremendously lower than they were just five years ago.  However, though prices are still at a low, there is more velocity in the market, as short sale, bank owned, and other distressed properties are slowly being absorbed.  According to the latest housing statistics, about 75% of sold and closed units consisted foreclosed and short-sale transactions.

Case study:

The Prado at West Palm Beach went on sale in March of 2004, during its construction.  In one weekend, all 304 of its condos were spoken for, selling between $120s and up for studios, to $190s and up for one bedroom/one bath units, and from the mid $200s for two bedroom/two baths units.  Following the completion of the building, prices appreciated between 25-50%, and the lucky owners who flipped immediately made out like bandits.  And then the crash.

Of the 304 units nearly 100 were offered for sale in 2006-2007.  Many were foreclosed upon, others transferred hands via a short-sale transaction.  Today, May 30, 2011, there are FOUR units for sale.  Inventory is low and prices are starting to inch up. 

http://rmlsfl.mlxchange.com/Pub/EmailView.asp?r=9307668&s=RML&t=RML

The best Opportunities Available
1. Brand New Developer Owned Units – 35% - 50%+ less than pre-construction prices
2. Short Sales
3. Bank / Corporate Owned / REO

Short Sale
Owners of distressed property (under water) stop mortgage payments and submit letter of hardship to bank, requesting their authorization to sell property below the amount owed.  Bank absorbs the loss, pays off liens, and new buyer obtains ownership at below current market value.

Pros
- reduced price
Cons
-  Transactions may take anywhere from 45-180 days.
-  Wait does not always conclude in sale. Banks may pull out.
-  Properties may need some repair and improvement
-  Some short sales properties sold without appliances

Bank Owned /REOs

Pros
-  Reduced price
-  Quick turnaround
Cons
-  As is – no repairs by seller
-  Sellers often accept multiple offers

Making an offer on Short Sale / Bank Owned
-  Proof of funds – if paying cash
-  Letter of commitment from financial institution guaranteeing mortgage
-  Quick decision making
-  When offer is accepted, 10% of purchase price is required
-  Closing takes anywhere between 15-45 days.  Sometimes delayed by bureaucracy  such as county clerk office (provides title company with tax obligations), property management (provides estoppel and/or liens if applicable), etc.

MAZOR REALTY OBLIGATION TO CLIENTS
Mazor Realty will only present ONE OFFER (the first received) to any property that accepts multiple offers to avoid Mazor Clients bidding against each other.  Mazor Realty does require of clients to make reasonable offers to avoid wasting everyone’s time.  (Example: a $60K offer on a $95K listed condo in a building with average distressed property selling at $85K will not be serviced.)

DISCLAIMER:  Mazor Realty, in accordance with SEC regulations, does NOT provide investment advice.  Data offered to clients is based on public information, including sales reports, rental reports, news media, and trade publications.

For More Information:

Mazor Realty, LLC

561-998-9500

mailto:info@mazorrealty.com

Are You Waiting Too Long? Don't Miss the Boat!!!

Bloomberg News Reports that the existing home sales climb to eight-month high!  See - Bloomberg http://t.co/ZOA2PmE
Distressed homes are being picked up quickly by cash buyers!
Need help finding the right property? 
Call Mazor Realty at 561-998-9500

BRAND NEW CONDOS - Opportunity in Down Town West Palm Beach

At the very heart of West Palm Beach, CityPlace South Tower stands as the city's defining statement on contemporary quality and style, designed and built to an exacting standard that would now be impossible to attain in a newly constructed building.

Located in the center of a vibrant community known for its local art scene, world-class performing arts, internationally renowned restaurants and shops, and pristine waterways, CityPlace South Tower lets you live life to the fullest. As a CityPlace South Tower resident, you can:

• Enjoy a quiet stroll down Worth Avenue featuring more than a dozen art galleries;
• Take in a show at the Raymond F. Kravis Center for the Performance Arts;
• Dine at one of CityPlace’s more than 20 restaurants;
• Spend the day shopping at CityPlace’s 75 fine stores;
• Walk down West Palm Beach’s historic downtown Clematis Street; or
• Relax at one of the area’s world-class beaches.

Prices 40% or more below pre-construction prices.  From the $190,000 and up.
More information: http://www.sarahmazor.com/communities/WPB/MZ00104.htm
Call Mazor Realty at 561-998-9500

Bank Owned and Short Sale - Down Town West Palm Beach

Work, Live,Play -- Down town West Palm Beach

Bank Owned One-Bedroom Lofts offered for $129500

At One CityPlaza
http://www.mazorcondos.com/WPB/cityplaza/index.htm

Click above link for information about this luxury Building.

Call Mazor Realty to schedule Previews

561-998-9500