Home Buying in Boca Raton>Question Details

Bill, Home Buyer in Boca Raton, FL

What are you thoughts on buying a home in The Bridges?

Asked by Bill, Boca Raton, FL Sat Mar 16, 2013

I've recently relocated and am looking to purchase a home, but am having trouble finding newer homes, anything built after 2000. I've started looking at the bridges, which looks really nice but I think the prices are moving up quickly and worry about it from an investment point of view. The lower priced homes are also on the high end of my budget but if its a decent investment, I'm okay with it. Also, I like that they go to boca schools, but since the community is technically in delray, is there a risk of being re-zoned in the future? Any other thoughts or considerations would be greatly appreciated.

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Dear Bill,

The Bridges is one of GL Homes newest communities and like all new home communities in Palm Beach County sales are brisk and pricing pressure is to the upside. GL Homes has a fantastic reputation and has done well with each of their communities even during the toughest of times which is a testament to the quality of their product and how it is viewed by the market. Please consider utilizing a buyers agent when looking at the potential purchase of a new home as it does not cost you a penny and the right player on your team can be invaluable when looking at lot selection, floor plan and options that will will provide you the highest return when it comes to resale which hopefully is a long, long time down the road. Knowing the subtle, and not so subtle, differences of builders contracts is also important as you can expect additional costs as a buyer that you would not typically bear in the resale market. With new construction expect to be responsible for the state doc stamps on the deed which run $.70 per $100 in value or $4,900 on a purchase price of $700,000.

A full evaluation of your particular needs and those of your family is imperative in this market of shrinking inventories and rising prices to be successful. Any successful real estate transaction needs to be focused on your needs and it sounds like schools are a very important consideration in your decision making process. Boca Raton enjoys an excellent reputation when it comes to a highly rated public school system but you are very astute in knowing that school zoning maps can change but knowing when any potential rezoning may happen is impossible to gauge. In your price range you still have choices so a careful look at locations that suit your needs is critical. Wellington also has a fantastic public schools system; more favorable housing prices but a bit further north and inland.

Overall, the local real estate market continues to thrive in all price categories with inventory shortages still our #1 concern. This limited selection and the corresponding pricing increases have made new home communities a viable alternative for the first time in 7 years and the traffic at new home model homes centers speaks for itself. Interest rates have been moving higher and jumped 8 basis points last week so 30 year fixed mortgages are now at the highest level we have seen in 9 months. Still incredible attractive from a historical basis but up 36 basis points from their low and bear watching closely.

When it comes to hunting down the perfect opportunity we have geared our systems to be centered on your needs and take great pride in offering you the best home shopping experience anywhere. We are only happy when you open that door to your new home. The need for a qualified agent cannot be overstated as you need someone on your team who is qualified to determine fair value and have your best interest at heart and we certainly would be honored to be included on the list of agents you may considering to interview. I hope this information is helpful and if I can add anything or be of help in any way please do not hesitate to give me a call.


Always at Your Service,



Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
1 vote Thank Flag Link Sun Mar 17, 2013
The Bridges is on the border of Boca Raton, so Boca schools are one of the many positive aspects of purchasing a home in the Bridges. Another is that the homes are designed and built by GL, which continues to improve an already excellent product.

As to future investment, while no one can give you a definite answer, if you look at other communities that have been built by GL, such as the Valencias in Boynton Beach and the Valencias in Delray Beach, you will see that prices have remained consistently high. In addition, they've built homes in Canyons, homes in Canyon Lakes, homes in Canyon Trails, and homes in Canyon Isles that continue to rise in value.

Part of the reason for this is that these communities are zoned for Olympic Heights High School in Boca Raton. Another part of the reason is that these communities are very well designed and built.

Due to the fickle nature of zoning in Florida, it is possible that your home in the Bridges or the Canyon Lakes homes, etc, may be rezoned. However, that would mean another middle school and high school would have to be built in western Delray Beach.

Because schools are among the only buildings (except for churches) welcome in agricultural zoning areas, and because there is an abundance of agricultural zoning in the area surrounding the Bridges (although developers are encroaching upon it more and more every day), any school likely to be built will probably be relatively close to your community.

So, while I can't tell you what prices will be in the distant future, for the moment the homes in the Bridges in Delray Beach appear to be intelligent housing decisions.

I have a home in Boca Raton and I think this city is a wonderful place to live and raise a family.

However, if your interest is strictly in a newer home and a well regarded school system, you might also want to look into homes in Parkland. This city is at the top of Broward County, just below the Boca Raton border. You will find a number of homes in Parkland that are resales that were built after 2000, and there are subdivisions that are still building new Parkland homes.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
JablonTeam@gmail.com
561-213-6139
http://www.JablonTeam.com
1 vote Thank Flag Link Sat Mar 16, 2013
Hi Bill,
By the time you add the upgrade its overpriced for new contruction. In West Boca there are some great homes in gated communities and many modern upgrades and take advantage of the market low and all time low interest rates. I will be hapy to assist you and work together to find a great new home.
Best Regards,
Russ Greenberg, RELO "Experience Counts"
561-445-8782

Florida's Real Estate Leader since 1926, 30 offices serving South FL
http://russgreenberg.live.keyes.com
Keyes Real Estate, Mortgage, Title, & Insurance
Boca Blue Lake Office
1200 Yamato Rd Suite B-1
Boca Raton, FL 33431
FlaHomeMover@aol.com
0 votes Thank Flag Link Tue Mar 19, 2013
Hello Bill, It may be worth your while to look at Boca Reserve. Also a new development. It is located in West Boca Raton and zoned for some fantastic schools. Please contact me so that I can e-mail you the price sheet. I can also help you search for resale properties that were built within the last few years. I look forward to serving all of your Real Estate needs.

Sincerely,

Lilia Biberman
Coldwell Banker,
Residential Real Estate
561-352-4576
Liliabiberman@gmail.com
0 votes Thank Flag Link Sun Mar 17, 2013
Hi Bill,
as already stated by other agents, The Bridges is one of the many communities built by GL Homes (builder with an excellent reputation). In the past year both the "Atlantic" and "Pacific" collections found in The Bridges have seen an increase in price between 19 and 23%. If you are willing to expand your search a little further north there are a couple of communities by GL Homes that might be worth your attention (I am thinking about all of the Canyons -- Canyon Springs in particular).
Best,

Paolo Giacone, e-PRO®
RE/MAX Complete Solutions
Mobile: +1 (561) 542-7265
Paolo@MiamiToBoca.com
0 votes Thank Flag Link Sun Mar 17, 2013
IF you plan on purchasing in Bridges or Seven Bridges be aware that the real estate taxes are VERY high, and even if you were able to pay in full for your home you still have the burden of excessive real estate tax payments.
Flag Thu May 8, 2014
http://www.city-data.com/forum/west-palm-beach-boca-raton-bo…


This link may give you some insight regarding the schools.

Sincerley,
Patricia Prosje, P.A
A1 Florida Real Estate
Direct: 561-750-4214
Email: pprosje@bellsouth.net
0 votes Thank Flag Link Sat Mar 16, 2013
Bill- the Bridges is one of Boca's newest community, an depending on your needs may be a great fit, but there are lots of other options that were built after 2000 and worth your consideration. Feel free to call me anytime to discuss. Jared.
0 votes Thank Flag Link Sat Mar 16, 2013
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