Sunday, June 26, 2011

Manalapan Oceanfront Real Estate Market Update

In this Manalapan Oceanfront Real Estate Market Update, I want to go over the 2 most recent closed sales:
  • 1880 S. Ocean Blvd - closed June 15, 2011
  • 920 S. Ocean Blvd - closed June 7, 2011
 1880 S. Ocean Blvd
As you can see from this aerial shot of the home, it's an Ocean-to-Intracoastal Estate;  it has 150' private beach and direct ICW frontage with 100' dock.  The home is 8,332 sq ft under air, 5 bedrooms, 6 1/2 baths, 6 car garage, 60' lap pool, and built in 1989.  The home was last listed for $6.495 million and closed in June for $5,100,431.  If someone actually pulls up the history of this property, we'll see it first came on the market in January 2008 and originally listed for $13.5 million.  The previous owner, Mullenix, had purchased the home back in 1998 for $6 million.  This is a case of patience pays off.

920 S. Ocean Blvd
Again, we see what Manalapan is famous for, Ocean-to-Intracoastal Estates.  This home actually belonged to legendary boxing promoter Don King.  I should actually refer to this as homes, not just home, as two homes are involved with this sale.  It was actually Don's wife, Henrietta King, who had purchased these two properties back in 1999 for a total of $14.3 million.  The properties offered +3 acres of 'resort style living' filled with gardens & courtyards, two main residences with 17, 726 sq ft under air, 2 swimming pools, tennis court and everything else you would expect from a media room, music room, game room, beach side pool & spa and even a "sundae station."  This appeared to be a quick sale, with the home listed for a total of 68 days on the market.  The list price was $19.995 million, but had previously been listed in 2009 for $27.5 million.  The property ended up closing in June for $15,950,000.  It looks like Don probably came out close to even on this one after commissions and title work.


Craig Greenberg, realtor
(561) 376-8540 cell
info@LuxuryOceanMarket.com

Wednesday, June 22, 2011

Oceanfront Homes for Sale in Highland Beach

Oceanfront Homes for Sale in Highland Beach:

Oceanfront Homes Sold in Highland Beach year-to-date:


Highland Beach, Florida - located between Boca Raton and Delray Beach, Highland Beach is just a little over 1.1 square miles.  This area has been home to some celebrities such as Nascar driver Jeff Gordon and pop singer Mariah Carey.

Out of the homes for sale above, there are actually two short sales on the list.  A short sale being when a homeowner is underwater on their mortgage (value of the home is less than that of the financing on the home).  The good thing about short sales is the ultimate price in which you can buy the property for, but the bad is just the unknown - you are buying the home as-is as well as lenders having poor communication skills with parties involved to ensure a smooth transaction.

Year to date sales have been pretty good with sale ranging in the $3 million range up to $5.8 million.

If you are interested in buying or selling an oceanfront home in Florida, please feel free to contact me.
Craig Greenberg, realtor(561)376-8540 cellOceanfrontHomesForSaleinFlorida.com
mailto:info@luxuryoceanmarket.com

Friday, June 10, 2011

Oceanfront Homes for Sale in Palm Beach Florida

Current Oceanfront Homes for Sale in Palm Beach:
Oceanfront Homes for Sale in Palm Beach

Oceanfront Homes that Sold over the last 12 months & Homes Under Contract for Sale:
Oceanfront Homes that have Sold in Palm Beach over last 12 months
Palm Beach, Florida:  Home to many rich and famous people, from Donald Trump to Jimmy Buffett, The Kennedys to Michael Jackson, have all at one time called Palm Beach home.  Back in 2003, The Robb Report called Palm Beach  Americas Best Place to Live citing its "abundance of pleasures" and "strong community-oriented sensibility."  A quick visit to Palm Beach, a stroll down Worth Avenue, a trip to the local museums, and you'll know you are in a desired destination.

There are currently 11 oceanfront homes for sale in Palm Beach ranging in price from $8,895,000 to $49,000,000.  One of the most notable sale in recent years was back in 2004 when Ronald Perelman of Revlon sold his home for $70 million.  And looking at sales and pending contracts over the last 12 months, we can see that four oceanfront homes in Palm Beach have sold ranging in price from just shy of $6 million to well over $22 million, so the luxury oceanfront buyers are still here.  Currently, there is one home under contract for sale listed at $4.45 million.

If you are thinking about buying or selling an oceanfront home in Florida, please feel free to contact me and we can go from there.
Craig Greenberg, realtor
info@luxuryoceanmarket.com

Tuesday, June 7, 2011

Oceanfront Homes for Sale on Hillsboro Mile

Current Homes Listed for Sale:
Oceanfront Homes for Sale on Hillsboro Mile

Homes Sold Over Last Year:
Oceanfront Homes Sold on Hillsboro Mile since June 2010

Hillsoboro Mile is actually the Town of Hillsboro Beach.  It's pretty much a 3 mile peninsula south of Deerfield Beach to Hillsboro Inlet.  As you can see in the first chart about, there are eight oceanfront homes for sale in Hillsboro Beach.  Don't be fooled by the $1.2 million home as it is less than 1600 sq ft under air.  But if you are looking for a great little vacation getaway spot, or a beach cottage for your home out West, then it might just be what you need.  I however prefer visiting my family's cabana at the Boca Beach Club.

Speaking of my family, my Dad had a good friend who lived on Hillsboro Mile that got him into sportfishing.  Unfortunately his friend passed away a few years back, but he had the most spectacular home on the ocean, with his sportfishing boat parked on the other side of A1A - The Reel Tight.    He actually got my Dad into sportfishing which my Mom will never forgive him for.  But his home was spectacular.  So spectacular that he had his son build a home on the lot adjacent to his own.
Example of a Home for sale on Hillsboro Mile

Hillsboro Mile is great if you want to have the best of both worlds.  The Beach and the IntracoastalYachtsmen and sport-fishermen alike both flock to this area for this reason.  Geographically, Hillsboro Mile also is situated smack in the middle of Palm Beach and Miami.  Makes it a great location to be.

The second chart shows the sales since June 2010.  The oceanfront homes do sell in this area and with the luxury oceanfront real estate market prices being depressed, now is a great time to take advantage of this wonderful area.  Please feel free to contact me if you have any questions.

Craig Greenberg, realtor
(561)376-8540 cell
info@LuxuryOceanMarket.com

Friday, June 3, 2011

Discipline

Discipline is my driving force in life.  Each day I wake up around 6:30AM and go to the gym to do 30 minutes of cardio.  I am in the process of building strength, so when I go back to the gym at night to weight train, I keep my reps and sets to a minimum, but I make sure each week I try to increase either the weight I lift or increase the reps I do with the heavy weight.  It's this discipline that helps me make progress.

Weight training analogy: 

If I want to get stronger, but I only use light weights, do high reps and too much cardio, I won't build strength.  I might look good, but it's not what I am going after, I will become frustrated.

oceanfront homesIn real estate, if an agent will take on any seller or buyer, how can you convey your expertise to them?  It's great to be busy, but exercises in futility will cause an agent to burn out.  Pick a market.  Become an expert.  You want buyers to say, "Hey, Craig Greenberg is the oceanfront realtor," and not "Craig is a hard working realtor, but I really need a specialist."  

If it were not for Greed, there would be a lot more successful agents.  Don't put greed first.  Put the final outcome of a situation first.   I'd rather get a referral fee from another agent than making no money at all.


Craig Greenberg, realtor
LuxuryOceanFL.com

Thursday, June 2, 2011

Oceanfront Homes for Sale in Gulf Stream and Ocean Ridge

Nestled between Manalapan and Delray Beach are two hidden gems:  Ocean Ridge and Gulf Stream.  Neither are large towns, where Ocean Ridge reported a population a little over 1700 in the 2004 Census and Gulf Stream had a population just shy of 750 and ranked as the 11th highest income place in the United States.  When you are driving along A1A, whether you enter these towns from the North or South, you know you have just reached somewhere very special.  The streets become lined with trees that make you feel like you are in a rainforest in some remote part of the world, all in the meanwhile you are just a stones throw away from the Atlantic Ocean.  Very cool!!

Below is a list of the 10 oceanfront homes for sale in both Ocean Ridge and in Gulf Stream:
There is a mixture of new construction and what appear to be knockdowns.  You can reference the "Year Built" to see if you are dealing with either or.  And if we check out the DOM vs. CDOM as I have been pointing out in my pieces, it looks as if there may be some interesting buys out there if the sellers are starting to be worn down and are primed to sell (after having their home listed for what looks like 2-3 years in some situations;  or it can just be unrealistic sellers.  The only way to know what you are dealing with is to put in an offer)

Currently there are no homes under contract for sale.  Moving on to what has closed over the last six months, there are two sales we can reference in Ocean Ridge:
Looks like one of the homes that was listed for over 1600 days,  almost 4.5 years, finally sold.  If I use 6273 N Ocean Blvd's Tax ID (or parcel ID), I can pull the property's history.  Back in 2006, this home was originally listed for $11,995,000 - wow - now that is a dose of reality where almost 5 years later the home sells just for a fraction of that original asking price at $3,787,500

If you are in the market to buy or sell an oceanfront home in Florida, please feel free to contact me and we can go from there.  Thank you.
Craig Greenberg, realtor
(561)376-8540 cell
info@LuxuryOceanMarket.com

Wednesday, June 1, 2011

Oceanfront Real Estate in Delray Beach

Delray Beach.  My hometown.  Delray is a large city, but there is such a huge emphasis on Atlantic Avenue, otherwise known as Downtown Delray, where you know you are in a true beach down.  Atlantic Avenue is the main strip lined with great bars, restaurants and shops.  At night time, the car traffic comes to a crawl, the music is just emanating on the streets from live bands, crowds of people, both trendy and beach town, adorn smiles and drinks, make Delray such a great and interesting place to be.

Delray Beach isn't just a beach town, although I only focus on oceanfront homes for sale in Delray Beach.  Currently there are 11 oceanfront homes for sale in Delray Beach, ranging in price fro $3.875 million to $23,950,000.  Below is a chart with the basic information on the homes currently listed for sale:
Next let's take a look at homes that are currently under contract for sale in Delray:
The pending sales right now aren't so hot in Delray, but if you are interested in having an oceanfront estate near a trendy town as well as close to several other major areas like Mizner Park in Boca Raton, then Delray should definitely be on your radar.  The weak pending sales is not actually a bad thing as our strong "selling" season is typically between January and April.  Once it starts to heat up around the rest of the US and Canada, Florida takes a back seat to places like the Hamptons or Martha's Vineyard.  However, if you still are in Florida, I suggest taking a tranquil car ride along A1A in Delray and then call me so we can look at some, or all, of the 11 homes currently on the market for sale.

On to sales.  Let's see what has sold year to date (last six months):
Two nice sales.  It's interesting to note that the sales price and the list price really aren't too far off.  1717 S Ocean sold for 12% less than asking price and 410 N Ocean sold for 7% less than asking price. 

If you are thinking about buying or selling oceanfront real estate in Florida, please feel free to contact me and we can go from there.
Craig Greenberg, realtor
(561)376-8540 cell