Home Buying in 33460>Question Details

Eric, Home Buyer in West Palm Beach, FL

Looking at properties at 2502 N Dixie Hwy Lake Worth, FL 33460 for sale they are listed about 75k over zillow or trulia estimate. Is this accurate?

Asked by Eric, West Palm Beach, FL Sun Jun 2, 2013

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Eric,

There are a number of market conditions that are affecting prices throughout the Palm Beach County area. First, keep in mind that the valuation placed on a property by the county assessor for tax purposes is not the same as market value and those two valuations can vary quite a bit. For instance we have had two sales in the Courtyards over the past 6 months; one sold for $135,000 which is about 123% of the county valuation and the other sold for $169,000 or about 154% of its county valuation. As with any development condition, location, features and seller motivation will also be important factors when determining what the property can be purchased for.

Today's market has been red hot but the recent meteoric rise in interest rates will certainly have an effect moving forward if they do not pull back or at least stop rising. In today's market we see many overpriced listings as sellers hear that the good old days are back and price are rising. That being said there are 4 other homes under contract in the Courtyards that have list prices between $129,900 and $199,900. There are three active listings all priced well above what the market has been doing so sellers are probably unrealistic and not too motivated. Two are listed at $224,900 and $245,000 which are 32% and 44% higher that the highest priced recent sale and things just aren't moving quite that fast. One is priced at 215% of county valuation and the other is at 197% which are both way above the community numbers.

Whether you are looking solely in Lake Worth or just your perfect home in the Florida sun you are best suited to be working with a Realtor® who is looking out for your best interests in this constantly changing market. A very clear description of your specific requirements is the best place to start and if I can be of service to you and your family I would appreciate the opportunity to be one of the buyers agents you may choose to interview. We cover the area and are experts in finding our clients that "needle in the haystack.

Best of luck and if I can offer anything additional please let me know.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
0 votes Thank Flag Link Thu Jun 6, 2013
Yes, what happened is that most of the old foreclosures and short sale facing Dixie sold out.
If you want me to put you on a personalized search for town homes of that kind, feel free to contact me.
561-309-6914
Web Reference: http://www.peterwjust.com
0 votes Thank Flag Link Mon Jun 3, 2013
Thanks that kinda prices me out of those town homes. It is a great area though and town homes. I guess the market jumped from 130k to 220k asking very fast in a few months.
0 votes Thank Flag Link Mon Jun 3, 2013
This is not accurate. There are three active listings at present in the Courtyards, and the average
asking price is about $220,000. These are great town homes built around 2005-2006 with high standards.
Web Reference: http://www.peterwjust.com
0 votes Thank Flag Link Sun Jun 2, 2013
Trulia & Zillow estimates are generated by a computer averaging out sales prices with no concern to the unique features of each property that may add or subtract value. Neither can ascertain market value.

Work with a professional who can show you recent sales & navigate the market price of the property you wish to purchase.
0 votes Thank Flag Link Sun Jun 2, 2013
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