What’s Up In The Real Estate Market…

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Jet Coast Homes partnering with Inspiration Charity

Jet Coast Homes of Nestler Poletto Sotheby’s International Realty is teaming up with Inspiration Charity in the fight against breast cancer. A portion of each team real estate transaction will be donated to the charity.

Inspiration Charity is non-profit organization that is dedicated to helping those in need of hope and support as they navigate the fight against breast cancer.

“Raising funds for research is certainly a critical part of the battle against finding a cure for cancer, but while we work on the cure, we need to address the process and all that goes along with it,” said Susan Uncapher, Founder of Inspiration Charity. “As a breast cancer survivor, I know first-hand how hard it is to financially tackle the costs involved with this disease, and as a result, will raise funds to help those affected by breast cancer in hopes of making the journey a little less scary together.”

According to Jessica Rosato, founder of Jet Coast Homes along with Eva Blow and Theresa Melocco, “Facing breast cancer is emotionally draining and stressful. Not only are you dealing with the shock of finding out that you have cancer and the reality that your life is about to change, but you are also dealing with everyday life and responsibilities that existed before. Dealing with additional stressors from insurance companies as you come face-to-face with upfront deductibles and out-of-pocket expenses can be devastating. At Inspiration Charity, it is their mission is to help financially in the early stages of diagnosis so that the patient can get the treatment they deserve without delay.”

There will be a launch party for Inspiration Charity on Sept. 30 from 4:30 to 8:30 p.m. at Tim Finnegans Irish Pub in Delray Beach. Jet Coast Homes will be sponsoring events and donating a portion of their team sales to Inspiration Charity. For more information, visit https://inspirationcharity.com.

Realtors team up to donate school supplies

The Realtors® of the Palm Beaches and Greater Fort Lauderdale’s Young Professionals Network and Southern Community Outreach Taskforce, through their Random Acts of Kindness campaign, collected 1,781 pounds of school supplies to help more than 175 students through the Palm Beach Education Foundation’s Red Apple Supplies Store.

Lang Realty welcomes new sales team

Lang Realty recently welcomed a new sales team comprised of Ryan Vandersnow, Justin Keller and Jennifer Napolitano, based in their West Palm Beach office.

The team specializes in representing buyers, sellers and investors in Palm Beach County.

“We have intimate knowledge in all facets of residential and residential income properties from Boca to Jupiter and beyond,” said Vandersnow, a New Jersey-native, who worked as a golf professional before an injury at the age of 28 derailed his career. “Each member of our team has exceptional interpersonal skills, aggressive negotiation abilities and a base of knowledge that far exceeds even the most seasoned agents.”

Vandersnow and his team joined Lang Realty because of the integrity of the brand, and that Lang presented the best opportunity for them to work together synergistically in achieving one common goal.

For more information, visit http://rvandersnow.langrealty.com/ or contact Ryan Vandersnow at 201-446-1737 or rvandersnow@gmail.com.

New FAU market update says local residential real estate well above long-term pricing trends

Residential real estate markets in Miami, Fort Lauderdale and West Palm Beach are all well above their long-term pricing trends, by 14 to 16 percent, according to a new market update produced by faculty in the Florida Atlantic University College of Business.

The Southeast Florida Residential Real Estate Market update indicates that Miami is 16.28 percent above its long-term trend, while Fort Lauderdale and West Palm Beach are 14.33 percent and 15.57 percent above their long-term trends, respectively.  The percentage change in prices are calculated from repeat sales indices for all transactions in the three metro areas.

Author of the market update, Ken Johnson, Ph.D., a real estate economist and professor at FAU’s College of Business said housing prices, however, are not approaching the dangerous 2007 levels that preceded the last crash of local real estate markets. In 2007, Miami was 65.43 percent above its long-term trend, while Fort Lauderdale and West Palm Beach came in at 63.36 percent and 58.29 percent, respectively.

In the last year, all three metro areas have experienced annualized property price increases of 8.26 percent in Miami, 10.03 percent in Fort Lauderdale and 8.04 percent in West Palm Beach. A slowing in annualized price increases for the three metros should mitigate the likelihood of another market crash.

“Residential real estate cycles are relatively new, making future predictions of these phenomena rather difficult,” Johnson said. “However, it seems reasonable to conclude that if property prices start to slow in the near term then southeast Florida property markets should be in for a bumpy landing, as opposed to the market crash that we experienced between 2008 and 2012. On the other hand, if double-digit percentage property price increases continue much longer, then local markets could once again experience a significant residential market crash.”

Mizner Park under new ownership

Mizner Park is now owned by Brookfield Property Partners.

The Toronto-based firm paid about $15 billion to acquire General Growth Properties, which owned the popular downtown Boca hangout.

Brookfield Property Partners is  the second-largest mall owner in the U.S. as investors, according to Bloomberg. Brookfield owned a third of GGP, Bloomberg added.  The city of Boca Raton owns the median in Mizner Park, and Mizner Park Amphitheater and the Mizner Cultural Arts Center on either end.

Brookfield Property Partners is an international commercial real estate company with about $90 billion in assets. The firm owns, operates and invest in commercial real estate. As well as having interests in other assets like hospitality and self-storage. The company is listed on the NASDAQ and Toronto stock exchanges.