This will be the last weekend potential buyers can view this ultra-modern property. For viewing instructions, Buyers/Realtors should contact Cary Lichtenstein at (561) 379-2020 or cary@JeffRealty.com.

1901 SE Ranch Road

Cary Lichtenstein
CHRISTIE’S
INTERNATIONAL REAL ESTATE & Illustrated Properties
7100 Fairway Drive, Suite 44, Palm Beach Gardens FL 33418
(561) 379-2020 cell • (561) 626-7900 office • (561) 277-2500 fax
cary@JeffRealty.com

This fabulous open floorplan at 101 Banyan Isle Drive in BallenIsles has beautiful, private preserve & golf views. The entrance has a view of the waterfall fountain & majestic Banyan tree. Etched glass doors lead to voluminous ceilings & tall windows for terrific light. Porcelain floors, crown molding & plentiful wall space add great style. The living room has a wet bar & built-in custom display cabinets. An open kitchen is highlighted by soft, contemporary, white thermafoil cabinets & granite counters. The master is spacious with art niches, large closets, and a marble Jacuzzi His/Hers bath. A study & 2 guest rooms make for the perfect plan. Pool, spa, and fenced yard add to great outdoor living. Extras include rounded counters, generator, speakers, accordion shutters, newer AC/water heater. Any type of membership.

101 Banyan Isle Drive

101 Banyan Isle Drive – Swimming Pool

http://www.jeffrealty.com/blog/2013/05/101-banyan-isle-drive-ballenisles

Bill Gerber, Realtor
Buyer’s Agent
Jeff Lichtenstein Group
www.JeffRealty.com
Illustrated Properties
7100 Fairway Drive, Suite 44
Palm Beach Gardens, Florida 33418
(561) 951-8180 Cell & Text
(561) 423-0533 Fax
bill@JeffRealty.com
www.facebook.com/billyg44
www.youtube.com/bgerbgolf
www.about.me/bgerbgolf

A lifelong resident of Syracuse, New York, and father of 3, and 6 grandchildren, Bill was broker-manager for a Prudential Real Estate Franchise in Alexandria Bay, New York, listing and selling high-end resort and waterfront properties. A low-handicap golfer, Bill was inducted in the New York Golf Hall Of Fame in 2003, having played in 5 US Amateur golf championships, 5 British Amateurs, 3 Canadian Amateurs, and a record 18 straight New York State Amateurs. Bill moved to Florida in 2008 and has been working for Illustrated Properties ever since. Bill works with the Jeff Lichtenstein Group as a Buyer’s agent representing clients in the Palm Beach Gardens, Juno Beach, Singer Island, and North Palm Beach areas. Bill enjoys boating, skiing, and golf when he has the time. Bill is member of PGA National Golf club where he, along with his wife, loves to play.  Bill’s knowledge of the game and familiarity with all of the luxury county clubs and their membership ins & outs serves his clients well.

A breathtaking view beyond a gorgeous heated pool with an infinity edge captures your eyes as you enter the unique, frosted, front doorway at 10365 Terra Lago Drive in Ibis Golf & Country Club. An intricate tile inlay at the entrance is set into the Saturnia marble flooring. Triple crown molding throughout lends to the richness of the details. The kitchen has granite counters, a Viking range and oven, and a Sub-Zero refrigerator. The dinette has an unusual domed ceiling and its windows have plantation shutters. The master bedroom has a fabulous water view and the triple crown molding with a wallpaper border gives this room a singular look. The screened lanai overlooks the beautiful pool framed by large tiled planters with palm trees. Beyond the edge of the infinity pool is a magnificent fountain, further defining life in paradise.

10365 Terra Lago Drive

10365 Terra Lago Drive – Swimming Pool & View

http://www.jeffrealty.com/blog/2013/04/10365-terra-lago-drive-terra-lago-ibis-golf-country-club

Perfect opportunity to remodel! Spectacular open & spacious 3BR home with pool at 703 Sea Oats Drive #C4 in Juno Beach. Located close to the beach, this potential seaside jewel also has great privacy enhanced by its spot at the end of a cul-de-sac street. The kitchen is open & has good size. Soaring ceilings, double skylights, and lots of light accent the wonderful, huge great room, and the built-in armoire is a nice touch. The 1st-floor master has a large walk-in closet and tile flooring. The guest bedrooms are equally as roomy as the master. Both have walk-in closets & the upstairs has a beautiful view. Wind down the day by lounging in the refreshing pool & taking in the cooling ocean breezes. The screened lanai is a nice plus. Newer roof, A/C & water heater. Fantastic community feel at Sea Oats and just a short walk to the beach!

703 Sea Oats Drive #C4

703 Sea Oats Drive #C4 – Screened Swimming Pool

 

http://www.jeffrealty.com/blog/2013/04/703-sea-oats-drive-c4-sea-oats-juno-beach

http://www.youtube.com/watch?v=eMEmPLOFHVk ]]> http://www.jeffrealty.com/blog/2013/04/703-sea-oats-drive-c4-sea-oats-juno-beach/feed/ 0 http://www.jeffrealty.com/blog/2013/04/michael-jordans-wedding-exclusive-photos/ http://www.jeffrealty.com/blog/2013/04/michael-jordans-wedding-exclusive-photos/#comments Sat, 27 Apr 2013 19:17:04 +0000 Jeff Realty http://www.jeffrealty.com/blog/?p=7508 Michael Jordan’s Wedding Tent is 40,000 sq ft, 5000 sq ft larger than his 35,000 sq ft home in the elegant and classy Bears Club in Jupiter, Fl. As you can see from the aerial, Jack Nicklaus has graciously allowed Jordan to place the largest tent in wedding history on the driving range of his renowned golf course in order to house the only 2,200 invited guests! Guests included former Bulls player Scottie Pippen and Toni Kukoc, Spike Lee, Patrick Ewing and nearby neighbor Tiger Woods ( view tiger woods Jupiter island home) The entertainment included DJ MC Lyte, singers K’Jon, Robin Thicke and Grammy-Award winner Usher and The Source, an 18-piece band. Jerry Krause was nowhere to be found.

Watch Jeff interviewed on Access Hollywood on National TV about the wedding.

Jordan outdoes Kim Kardashian. When Jordan super-sizes something, even Michael Bloomberg is wowed. The Jordan affair…

Jordan is set to marry the drop dead gorgeous Yvette Prieto, a Cuban born super-model. It is the 2nd marriage for Jordan and the first for Prieto. The sound system for the affair arrived in four semi-trailers and the band spent the entire day Friday rehearsing for the BIG EVENT. Golfers had a great time on the course, with a backdrop of music to play to or dance between shots. Best yet, MJ won’t even miss a day of work as his Charlotte Hornets missed the playoffs!

 Check out OceanFront Condos at the Juno Beach Condos

The wedding site is in easy walking distance from Michael’s house. In the aerial above, you can see regular club members getting in a last practice round before the event.  Just around the corner lies Michael’s house although the setup is clearly not designed to “invite” people to move back and forth between the house and the wedding. At the rear (right side of the photo) of the tent complex, appears to be men’s and women’s temporary restrooms which is probably the limit of where guests will be allowed. The layout of the wedding tent structures appear to invite guests in on the left to a reception area followed by a main area where the ceremony is likely to take place along with dining afterward – and finally an enormous ballroom and dance floor already darkened with paneling to allow for lighting and effects to go along with the music. You can see the band stage (in purple) were curtains can be opened at the right time to allow people to see and hear the band perform.

The wedding itself cost a reported $10,000,000!!!  Amazing floral arrangements with tulips, roses, peonies, crystal candelbras, private cigar rooms, Usher, and of course the tent structure quickly add up. Yvette looked gorgeous in a French silk J’Aton Couture wedding dress with Swarovski  crystals. Buses were brought in to drive people from the nearby church to the wedding reception.  Everything was kept very hush hush for a Michael Jordan wedding.   In a town with the Donald, this was one affair that Trumped Trump!

Some information on Michael Jordan’s home… The Jordan house makes a clean break with the Mizner Traditional Mediterranean architecture so familiar to the Palm Beach area for the past 80 years. Other celebrities are breaking out as well in this direction, as evidenced by Rory McIlory’s and Tiger Woods’ houses.

Architecture is much more open, meaning that rooms are less defined by walls and more defined by furniture layout. Living rooms in many cases have disappeared completely and great rooms have emerged with 80″ TVs and open kitchens. The outside is now part of the inside. The Jordan house counts 18 separate roof structures that break the massiveness into houses within houses. It is so tastefully done, the architecture is brilliant, as there is an intimacy uncommon with size. The Bear’s Club, developed by the world’s greatest golfer, Jack Nicklaus, is now home to the world’s greatest basketball player, Michael Jordan. The Bear’s Club was just a huge empty piece of land for years with a few cows and a lot of barbed wire owned by John D. McArthur until it was sold to Jack Nicklaus who had a dream for his ultimate golf course community. Jack Nicklaus later split the parcel into two pieces and developed the 2nd parcel into the Ritz Carlton of Jupiter, now the Trump National Golf Club of Jupiter. While The Bear’s Club and The Ritz share the same stop light and first few hundred feet, the Ritz home owners drive straight and The Bear’s Club members and homeowners turn right into a magnificent, gated, stoned entry.

Michael Jordan’s House | Tiger’s Sports Complex | Venus Williams’ Mansion | Celine Dion’s House | Donald Trump’s Private Club | Burt Reynolds & Friends | Elin Nordegren’s Home | Rory McIlroy’s House | Rush Limbaugh’s Palm Beach Home

The caddies at the Ritz, when asked what the difference between the two clubs is, respond that the “Ritz homeowners are all millionaires, but the Bear’s homeowners are billionaires”. While that may not be universally true at The Bear’s Club, they do have more than their share of ultra-wealthy members. MJ’s choice of a 3-acre homesite at The Bear’s Club is not all that unpredictable. His desire for privacy will certainly be well-served there, as entry to The Bear’s Club is well guarded.
His home has already been landscaped with a literal forest of trees, giving little or no glimpse of his mammoth 28,000-square-foot home, together with 3 separate structures; a guard house, guest house and pool house. He paid $4.8m for the land and $7.6m for the construction, making this $12.4m mansion probably the most expensive non-waterfront home in the Palm Beaches. MJ’s total commitment when furnished will probably exceed $20m.

Micheal Jordan’s House – Check out the HUGE 2nd floor deck!!!

Michael Jordan’s House What is surprising, comparing Jordan’s piece of land to Tiger Woods’, (click here to see Tiger Woods’ Jupiter Island home) is that Tiger put together 3 parcels on Jupiter Island so that he has frontage on both the ocean and the Intracoastal. It would be interesting to see what the Jordan home resells for, being that its location, while great for MJ’s privacy, is not ideal for resale to the trophy and yacht buyer. Jordan’s house has 11 bedrooms, 6 on the 2nd floor alone, a 2-story guard house, an athletic wing together with basketball court, and a lavish workout facility. It’s rumored his huge media room with state-of-the-art electronics is ‘cigar friendly’.

Michael Jordan’s House

While MJ loves cigars and gambling, it’s rumored he’s tamed the latter in deference to Jack Nicklaus’ wishes to ‘tone it down’. The Bear’s Club has 55 estate residences, with starter estate homes beginning at $4-5m and the largest homes being priced just under $20m. Besides the estate residences, they have 3 other categories, Golf Villas, 14 Club Cottages, and 13 Vintage Estate Homes. (Click here to see all of Michael Jordan’s new neighbors homes on the market at The Bear’s Club real estate for sale.) The stone-clad Clubhouse is truly magnificent looking, both architecturally and the lush, dark-wooded interior. Jack Nicklaus spared nothing when building this masterpiece, notwithstanding the $90,000 initiation fee and $25,000 annual dues.

The Bear’s Club Clubhouse

The golf course is not your typical palm tree lined Florida course; instead, the property is blessed with hundreds of mature pine trees and well maintained scrub that eats golf balls when struck off line.

The Bear’s Club Golf Course

The greens are firm, ultra-fast, and can be treacherous when cut very tight. I played there over a dozen times and always averaged about 3 to 4 strokes higher than my normal score. The course has a very high course rating and is fair but on the difficult side. Their caddy program is terrific. Comparing it to Trump National Golf Club of Jupiter, where I was a member for 4 years before 2 back surgeries forced my early retirement from golf, I found the Trump to be a hair easier, maybe 1 to 2 strokes. Jack Nicklaus also designed the Ritz (now the Trump) and made it his chief project to not let it be a lesser course, and he definitely achieved his goal. Both courses are terrific, great challenges, and a joy to play. Having built homes in Highland Park, Illinois, I remember when MJ bought his parcel of land in Highland Park and built a 29,000-square-foot house together with a 3-hole golf course in his backyard. MJ had the number 23 on his entry gate.

7117 Eagle Terrace in Eagle’s Isle, the finest neighborhood at Ibis Golf & Country Club, has a sensational curb appeal with a wide circular driveway and impressive entrance. The inside does not disappoint! Crown molding arches, volume and beautiful ceiling lines, along with 5 tall ceiling windows will delight your senses. Only the finest materials were used throughout. Almost every room has a unique ceiling which makes the home uniform, but also different. The living room brings in incredible light and views of the pool and golf course. A wet bar and cast-stone fireplace are most impressive. The dining room has incandescent, double-coffered, 18-foot ceilings, silk drapes, and great space. Close by is an incredible kitchen, with 2 Bosch dishwashers, double Dacor oven, 6-burner gas stove with exhaust, Sub-Zero, huge granite island, and lots of cabinet space, making it a chef’s delight, all overlooking the breakfast room and the family room. The family room has a showstopper cypress ceiling and built-ins. This area is where you spend your time and it is warm and comfortable. The west wing has 3 VIP guest suites, each with its own private luxury bath and walk-in closets. Also on this side of the house, the media room is a great spot to watch your favorite movie. The other side of the house is simply stunning. The master has soothing coffered ceilings and French doors. The master bath is an oasis with lots of marble, Jacuzzi, bidet, coffee bar, and 2 large walk-ins. Next door is an incredible study with wood built-ins and an exercise room. The outdoor living is fabulous! Covered & screened BBQ loggia, rock waterfall pool/spa, and a true side yard. No expense was spared with every upgrade imaginable; impact glass, 25Kw generator, instant hot water, large 3-car garage with rustoleum floors, 2 wet bars, irrigation well, and a side porch are a few of the extras.

7117 Eagle Terrace

7117 Eagle Terrace – Patio & Swimming Pool

http://www.jeffrealty.com/blog/2013/04/7117-eagle-terrace-eagles-isle-ibis-golf-country-club

Spectacular 3BR+ study, open plan home on a choice corner lot that includes extra grounds, gorgeous private lake views, and desirable southeast exposure at 401 Via Placita in Vizcaya at Mirasol. Magnificent recessed ceilings & diagonal tile greet you once inside and are present throughout. The living room is spacious and great for entertaining guests. The formal dining room is ideal for dinner parties. Granite countertops, tumbled marble blacksplash, and pantry are all part of a fantastic kitchen. The master has lots of room and California closets. The master bath has a Jacuzzi tub. The guest rooms will make any visitor feel comfortable. The study has pretty built-ins. End the day by relaxing on the huge screened loggia or private paver patio. Extras include hurricane shutters, central vac, and water purification system.

401 Via Placita

401 Via Placita – View from back patio

http://www.jeffrealty.com/blog/2013/04/401-via-placita

Peaceful Preserve views accent this beautiful 4BR + den custom home at 42 Dunbar Road in desirable Marlwood Estates at PGA National. Situated on a huge lot, this spot in paradise has volume ceilings & an open, double, split floorplan. The long driveway leads past the plantation shutters at the entry & into the uniquely-designed ceilings of the foyer. The roomy living room flows into the large covered loggia & pool area. Lots of windows & skylights make the family room the perfect hang-out spot. The fireplace adds a splash of romance. The stainless-steel kitchen has lots of counter space, backsplash, inlays, and wet bar. The spacious master supports a fantastic walk-in closet. Guest bedrooms are ideal for visitors. The den is the ticket to gather your thoughts! The big patio & pool will sooth any pains that you might have. Newer roof, too!

42 Dunbar Road

42 Dunbar Road – Screened Swimming Pool & View

http://www.jeffrealty.com/blog/2013/04/42-dunbar-road

2. Prices: Prices are way up from a year ago. The market really took off last March. The average price of a home/condo is $292,000; last year it was $229,000 in March. Granted much of this is due to having less low priced short sales and foreclosures available to sell, but the appreciation is terrific

3. Sales: Total sales are up just 2.9% compared to a year ago.  Inventory is down 17%,  so there are just not as many homes and condos to sell.

4. Buyers: Whose buying is all over the place? Lots of cash buyers in the club communities, condos. and zero lot-line homes. Family areas are super competitive and lots of buyers looking for loans. Many going for FHA and some can’t qualify. Buyers need to be doing their pre-approval homework thoroughly and Sellers need to check the pre-approval with a fine-toothed comb.

5. Distressed properties: Short sale inventory is burning off at a fast pace. There was a 34.9% drop in the amount of short sales available. As prices go up, there will be less and less Sellers that qualify or need to short sale. There is still an unknown number of foreclosures coming. I know people who haven’t paid their mortgage since 2009. In some cases banks don’t want to take over and start paying for taxes and insurance. Homeowners have stalled banks as well. Supposedly, we are getting through these faster because there is less of them, but it still remains unclear.

6. Financing: You’ve heard of Angry Birds. Now there are Angry Buyers. Buyers are having a tough time getting loans. Supply of inventory has been heading down in Palm Beach County. Without big new supply going up on the horizon, logically we should see a continued big increase in prices. However, product has depreciated differently. In Egret Landing, where we live, inventory has plummeted and we have seen a rise of prices. Egret Landing has a price range of $300,000 to $700,000, low HOA fees , A-rated schools, and a very good location. I recently put a home on the market in there at a high price. We went through 6 offers! Buyers wanted to buy the house and were willing to purchase it but couldn’t afford it. FHA loans, which require little money down, have loan limitations of $417,000. Buyers are getting maxed out do to this. Other buyers in rental units just aren’t qualifying. Poor credit, not enough work history, and appraisals are making deals tougher to put together. Buyers want homes and get upset when they can’t get them! One confronted me at an open house after losing out to a conventional loan purchaser.

If you are a Buyer getting a loan, you must get a solid pre-approval, not just some standard letter. Credit needs to be strong. The Selling agent is going to want information on your credit strength. You are also competing with cash Buyers or conventional loan buyers. Be prepared to have detailed pre-approvals and financial information to give to the Listing agent. Also, you are competing with cash buyers and conventional loan buyers. Sellers preferably like to see 5%-10% down in escrow. Just because your loan officer tells you he/she can do a 97% loan doesn’t mean you should only put 3% in escrow.

Jeff’s Comments

County Club Communities Bottoming Out.

While non-mandatory and low-HOA communities have seen a boom in prices, in many country-club communities a very different dynamic has occurred. The bottom is just hitting. Some clubs, like Admirals Cove in Jupiter, which has a unique boating/golf combination, bottomed out a few years ago because of the limited supply of this unique combination. Clubs like Ibis and BallenIsles have depreciated more than other communities because of the cost of mandatory membership. Inventory is still high. This is because Buyers on the entry end of clubs couldn’t afford or were avoiding clubs because of the fee structure. However, the prices have dropped enough that Buyers who wanted the country-club lifestyle but couldn’t afford it are now back in play. I just sold a client’s home in Bay Hill Estates, a community with low HOA, for a large number. They were looking in non-mandatory clubs and found the prices to be in the low $400,000s. In BallenIsles they found a 3BR home for $225,000! The $175,000 savings compared to the $400,000 home they were looking at would more than pay for the $57,500 Sports membership initiation (80%) equity and $12,820 in dues. My clients play some golf and like the camaraderie of a club, so this became a wonderful opportunity to purchase. Other than Jupiter Country Club and Old Palm , there is no new construction on the horizon. Mirasol and Frenchman’s Reserve are sold out, so prices will continue to stabilize, all things being equal.

How high can prices go?

Tough to figure out, but if you add up inflation since 2005 and continued baby-boomer population growth, there might be a lot of room for prices to rise. Besides average prices depreciating 30%+ since 2005, there has also been 17%+ inflation since 2005! That means if the bubble did not occur, then prices should have gone up 17%, all things being equal. That 17% rise we just had takes care of inflation but means prices are still at the bottom of the market.

Therefore people taking a 30% loss on their home are really taking much more. Areas like Palm Beach County have lots of growth coming in future years. The added demand of these home buyers means higher prices if supply continues to not keep up. Supply is not keeping prices in check, but the economy is. Wages have not kept up with inflation. Also, people with poor credit or who went through a short sale has meant lower overall home ownership.

According to Palm Beach County, population projections show strong growth. Right now this is outweighing new supply. Projections might even be higher, as many people are looking at moving their business to Florida because of the increase in US tax rates and Florida’s 0% income tax.