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Singer Island : Real Estate Advice

  • All27
  • Local Info8
  • Home Buying7
  • Home Selling1
  • Market Conditions1

Activity 20
Mon Jun 29, 2015
Tom Priester answered:
JP,

There are many excellent lenders in the area and like anything buyers who are financing their purchase with a loan should shop around and compare. Costs of the loan are one thing but look at the process and how that broker will guide you through it. Borrowing money today, even with excellent credit, is not for the faint of heart.

Interest rates on a 30 year fixed loan were up about 11 basis points last week to the highest levels since September of last year. We keep hearing how the Fed is going to raise rates but I find it hard to see a market where rates rise significantly. The United States has a huge loan, almost 19 trillion, that we have to pay interest on. We cannot balance a budget without additional interest payments.

Rates are still historically low and buyers should lock in fixed rates and try to get a conventional loan where private mortgage insurance is not a life of the loan expense. We have a client we are working with who did not listen to our "use a direct lender with in-house underwriting" recommendation and decided to use his "old friend". We have now negotiated three extensions with the seller and his old buddy better get the deal done in the next couple days or he has $15,000 at risk.

The lender you choose is incredibly important so choose wisely...........



Tom Priester
Principal Broker

Paradise Sharks Real Estate
561.308.0175
info@paradisesharks.com
... more
0 votes 9 answers Share Flag
Mon Jun 29, 2015
Tom Priester answered:
Jacquie,

The condominium market on Singer Island remains very strong with 259 sales over the past year. However, as of this morning we have 193 units on the market and I hope that yours is already under contract. Inventory levels, unlike the overall market, are quite high at 8.9 months which signifies a buyer's market. To date in 2015, the median sales price of a condo on Singer Island has been $391,000. Compare that to the $415,00 that was the median sale price in 2014 and you see median prices realized are actually down year to date.

Buyers and sellers, in any market, need to be educated and have all the information to make an informed decision as mistakes in real estate can be very expensive. Sales throughout the Northern Palm Beaches will continue to slow this summer but with inventory levels still historically low prices still should start to stabilize. Watch the overall economy and if it stays strong real estate prices in the area should also continue to climb.


Fins up.......


Tom Priester
Principal Broker

Paradise Sharks Real Estate
561.308.0175
info@paradisesharks.com
... more
0 votes 1 answer Share Flag
Tue Nov 11, 2014
Gary Geer answered:
Stephan,
Discuss this issue with your agent. That is your best resource as most agents have presented many offers on homes.

All the best.
0 votes 12 answers Share Flag
Sat Aug 16, 2014
Michael Joseph answered:
A mortgage lender does not tell you how much you can afford. A lender will tell you the amount you can get approved for. You need to look at prices and figure out the cost of a mortgage, taxes and insurance. Then add in all current bills, expenses and figure out an average it would cost for utilities, water, cable ect. Once you figure out a rough number you need to try to take that amount and put it in a savings account for at least 5 to 6 months. If you are unable to save that amount the home is more than you can afford. This will also show you the lifestyle you will be able to afford with those monthly costs. Many home buyers make the mistake of not doing this and end up in a situation where they can't afford the home or end up being house poor. Anyone t.elling you to simply go by what a bank will loan you is an idiot. This is what you qualify for and is never the same as what you can afford. ... more
0 votes 8 answers Share Flag
Sat Aug 16, 2014
Michael Joseph answered:
It's no secret that home sales are declining, they have been for a year now. Besides for a few area's the market is very weak and will probably stay that way for a while until the economy improves. With the fed keeping interest rates at or near zero for the foreseeable future it just goes to show things aren't getting better. They have exhausted their options in keeping interest rates and QE for so long. Imagine what will happen when they finally do raise rates. My personal opinion is that housing prices will start to decline once raised and that's if other factors don't force them to prior. ... more
0 votes 5 answers Share Flag
Sat Aug 16, 2014
Annette Lawrence answered:
this question posted Apr 2007.

I'm sure JP has moved on, so should the rest of us.
0 votes 10 answers Share Flag
Sat Aug 16, 2014
Micah Matson answered:
It is strange how many of the same questions you have asked about so many places. Seems very fake.
0 votes 3 answers Share Flag
Mon Jun 16, 2014
Bill Eckler answered:
J.P.

We always recommend that people visit an area to arrive at their own personal impression. Singer Island itself is a wonderful location, one that I grew up enjoying.

On the other hand, part of making a decision whether of not a location is right for you is seeing the entire picture...one that includes neighboring areas. Check the Rivera Beach crime report.

Best wishes,

Bill
... more
0 votes 4 answers Share Flag
Mon Jun 16, 2014
Tom Priester answered:
Dear Halley,

There are some of Palm Beach Counties most amazing outdoor spaces right at the northern entrance onto Singer Island. The John D. MacArthur State Park is a real treasure and I highly recommend a visit to anyone who is an outdoor enthusiast. It is the only state park located in Palm Beach County; the beach is pristine and the nature trails will take your breath away. But if you really want to be blown away then get in your kayak or on you paddle board and really explore these waterways. It is amazing!

There is also Ocean Reef Park located on the beach mid-island. Almost 13 acres of waterfront playground with 700 feet of amazing beach that is guarded. Dogs are not permitted on the beach here but you can always make the short drive up to Jupiter where dogs are free to run on the sand with their friends. Just make sure you pick up after them!

If you are looking for a real estate experience that benefits you, just give us a call or send us an e-mail with more information on what you are trying to accomplish. You can always pay more and receive less but that just would not make any sense. Would it?



Fins up......






Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct Line 561 308-0175
tom@tompriester.com

http://www.paradisesharks.com
... more
0 votes 2 answers Share Flag
Thu Oct 17, 2013
Marilyn Peirce answered:
Singer Island is centrally located in northern Palm Beach County - a shoppers haven. Within 15 minutes you can be walking on Worth Avenue in Palm Beach where you have every luxury boutique store or Neiman Marcus to choose from. A few minutes west is City Place, the fabulous open air market with foutains and a piazza to sit and take in all the local beauty with over 20 fine restaurants, a majestic movie theatre overlooking the plaza and the adjacent Kravis center with the very best of concerts, opera and ballet. To the north, is the Gardens Mall and the new and exciting Downtown at the Gardens - you name it we have it - Nordstroms, Bloomies, Saks, Macy's, Tiffany's, etc. etc. etc. and far too many restaurants to mention. Food shopping is an art here with Whole Foods newly arrived, Publix, and many local venues like Carmine's Market Place and French bistros with gourmet coffees and wines. And more is on the way. ... more
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Wed Oct 16, 2013
David Abernathy answered:
Without ever leaving Singer Island you will find a number of social venues. Sailfish Marina is perhaps the favorite upscale location on Singer Island. A great place to enjoy a meal, watch the fleet come and go and perhaps have a cold beverage. On the weekends Peanut Island, has a sand bar just across from Sailfish Marina that draws the crowds. Other popular locations on Singer Include Longboat Johnnys - try their Grouper Dog, and also Coconuts located at the Hilton Hotel are good places to relax and enjoy. In addition to Coconuts, the new Resorts at Singer Island Condo/Hotel also has a new oceanfront restaurant. ... more
0 votes 2 answers Share Flag
Wed Oct 16, 2013
Bill Eckler answered:
Intra coastal bridge traffic can create issues from time to time but there is another avenue to exit the island by traveling north to US 1.
0 votes 2 answers Share Flag
Thu Mar 21, 2013
Tom Priester answered:
Dear Vr,

The application and approval process is customary in south Florida for any condominium, town home or single family residence and more often than not nothing more than an orientation designed so you understand the rules and regulations of the community. By law property managers can take up to 30 days to process the application but it usually is much, much quicker. From a phone call and paperwork submittal and payment of fee which is usually in the $150+/- range to formal interviews with board members each association is different. We have those who require DNA testing of any pets so they can test anything left laying around in common areas.

As with the overall market the best condominium units and buildings are in strong demand but still plenty of inventory. In this market many units that have been listed awhile are probably richly priced so make sure you do complete homework when making offers. Singer Island is awesome but you might also consider the Juno Beach and Highland Beach areas for oceanfront living on the sand. There are opportunities in your price range in all areas.

Whether you are looking solely on Singer Island 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 all of Palm Beach and Martin Counties 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
... more
0 votes 1 answer Share Flag
Fri Feb 4, 2011
Debra B Albert PA answered:
Where does this Mortgage Broker live and work?

He or She does not know our area. There is financing...many options for a qualified buyer. The Treasure Coast has much to offer. For direct lender information, just get in touch and I'll give you contact information.

Debbie Albert. PA
Keller Williams of the Treasure Coast
... more
0 votes 9 answers Share Flag
Wed Dec 1, 2010
Rodney Forbes answered:
Monica,

The answer is yes. As an REO agent, I recently sold a bank foreclosure in a luxury high rise condo building on Singer Island. Depending on what your looking for and you're price range, the best option may be to get set up on a search for specific properties in the area, or complex, you're looking at.

With our system, the minute a new foreclosure comes on the market, or is reduced in price to your price range, your automatically notified. This insures that you don't miss out on the best deals when they come on the market.

With my foreclosure listing, I had 10 calls in the first 2 days, and the property was under contract in a week. Most of the best deals go very fast.

Please let me know if you have any questions. Good luck to you.

Rodney Forbes
Realtor/Broker
Forbes Realty of South Florida
... more
0 votes 5 answers Share Flag
Wed Nov 24, 2010
Al Boada answered:
Click on the following link to read Trulia's list of foreclosure terms.

http://www.tiny9.com/u/Forclosure_Terms
0 votes 7 answers Share Flag
Thu Oct 28, 2010
Tammy Hayes answered:
Go to the following web site and type in a zip code that you are interested in. You can search crime rates by zip code and neighborhood.

http://www.neighborhoodscout.com/

Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL ... more
0 votes 5 answers Share Flag
Wed Sep 3, 2008
Karen Lindholm answered:
Hello Sue!

Our services are free and we're a family business. The MLS is not going to tell you whether or not the property is in foreclosure, which is part of my job! Please contact me: Jolie@RedReefRealty.com, or visit my personal website: http://jolielindholm1.point2agent.com or www.redreefrealty.com for more information about our company.

I just rented a beautifully furnished oceanfront property on Singer Island whose is ecstatic!

I look forward to hearing from you!

Thanks,
Jolie Lindholm
Red Reef Realty Inc.
... more
0 votes 1 answer Share Flag
Mon Apr 23, 2007
Marilyn Peirce answered:
Singer Island is an oceanfront resort community and the properties are meticulously maintained with beautiful tropical landscaping and great pride in the community. There are high rises on the ocean side with outstanding architectural designs and the single family homes are mostly ranch style with a few 2 story properties. You can sample many properties on my website - www.SingerIslandProperties.com and our company website www.ipre.com. ... more
0 votes 1 answer Share Flag
Mon Apr 23, 2007
davidbend126 answered:
I would try googling "cheap mortgages", there are some great deals on there! Best of luck! :)

David | Medical Clinic Scarborough
0 votes 4 answers Share Flag
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