90 East Dunbar Road | Marlwood Estates | PGA National

March 7th, 2014

Incredible panoramic lake and Squire Golf Course views plus dramatic vaulted ceilings and fantastic open kitchen with spacious family room makes this cul-de-sac “estate” home at 90 Dunbar Road E in Marlwood Estates at PGA National an ideal space. Cooks will love the 2010 remodeled kitchen with granite, island, Jenn Air & Kitchen Aid appliances, double wall ovens, and wine cooler which opens onto a larger family room that overlooks lake views and connects to a fully screened pool and outdoor living space. You’ll love the triple, split layout where the study with closet easily works as a 4th bedroom. A summer kitchen and finished patio – all facing water and the 13th green of Squire – makes relaxing a breeze. Always light & bright with skylight and clerestory windows, plus a 2004 roof, 2.5 garage, hurricane protection fabric, and 2009 A/C.

90 Dunbar Road E

90 Dunbar Road E – Screened Swimming Pool & Patio

 

http://www.youtube.com/watch?v=uOt2hfWyk6A
http://www.jeffrealty.com/blog/2014/03/90-east-dunbar-road-marlwood-estates-pga-national

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2013 Palm Beach County Real Estate Year in Review

February 7th, 2014

The numbers are in and the year 2013 ended with the real estate market on fire.

  • Closed sales from December 2012 through December 2013 in PBC are up 11.9%; 1,325 in 2013 and 1,184 in 2012

Single-Family Homes, December 2013 versus December 2012

  • The median price of a single-family home went up 15.3%, from $229,750 to $265,000
  • Inventory is practically the same at 6,720 in 2013 from 6,764 in 2012

Condos/Townhomes December 2013 versus December 2012

  • Interesting that the condo market is much different
  • Closed sales are down 17.9%. Prices are up a staggering 22.3%. This reflects in the supply of active inventory, as active listings are down 13.7%.

Million dollar sales in 2013 versus 2012

  • The million dollar market has recovered nicely. The amount of closed transactions were up 26.8%; 835 in 2013, 658 in 2012.

So, why such an increase in prices? Here are 8 reasons why:

  1. Inflation! Yes, inflation is historically lower, but there has been a cumulative 17.8% inflation since 2006, when the market crashed, according to the Bureau of Labor Statistics. So, prices should have come back 17.8% if nothing else. I never hear anyone talk about this, but I believe it’s the single biggest reason prices have come up and why there might be more room to go higher.

Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Ave

2006

4.0

3.6

3.4

3.5

4.2

4.3

4.1

3.8

2.1

1.3

2.0

2.5

3.2

2007

2.1

2.4

2.8

2.6

2.7

2.7

2.4

2.0

2.8

3.5

4.3

4.1

2.8

2008

4.3

4.0

4.0

3.9

4.2

5.0

5.6

5.4

4.9

3.7

1.1

0.1

3.8

2009

0.0

0.2

-0.4

-0.7

-1.3

-1.4

-2.1

-1.5

-1.3

-0.2

1.8

2.7

-0.4

2010

2.6

2.1

2.3

2.2

2.0

1.1

1.2

1.1

1.1

1.2

1.1

1.5

1.6

2011

1.6

2.1

2.7

3.2

3.6

3.6

3.6

3.8

3.9

3.5

3.4

3.0

3.2

2012

2.9

2.9

2.7

2.3

1.7

1.7

1.4

1.7

2.0

2.2

1.8

1.7

2.1

2013

1.6

2.0

1.5

1.1

1.4

1.8

2.0

1.5

1.2

1.0

1.2

1.5

1.5

2014

 

 

  1. 2.   Historic Lows in New Construction/Increased Population Growth

Very little New Construction has curbed the supply side, while we’ve had excellent growth. This is going to continue, and with very little building in the short term, prices may continue to rise. According to Palm Beach County Planning, there will be almost a 9% increase in population in Palm Beach County over the next 9 years.

CITIES

POPULATION (Permanent Residence)

ts)

Additional Seasonal Population*

Land Area#
(in sq. miles)

1980 Census

1990 Census

2000 Census 2010 Census

2013***

2020 Proj**

BOCA RATON

49,447

61,492

74,764

84,392

86,041

91,679

10,940

29.04

JUNO BEACH

1,142

2,121

3,262

3,176

3,191

3,619

1,352

2.07

JUPITER

9,868

24,986

39,328

55,156

56,577

60,465

9,240

22.11

JUPITER INLET COLONY

378

405

368

400

401

416

79

0.14

NORTH PALM BEACH

11,344

11,343

12,064

12,015

12,184

12,592

1,997

3.70

PALM BEACH

9,729

9,814

9,676

8,348

8,168

8,620

6,310

3.70

PALM BEACH GARDENS

14,407

22,965

35,058

48,452

49,434

55,276

5,751

56.25

RIVIERA BEACH

26,489

27,639

29,884

32,488

33,369

36,297

5,389

8.45

TEQUESTA

3,685

4,499

5,273

5,629

5,649

6,196

928

1.80

WELLINGTON

20,670

38,216

56,508

58,108

61,711

4,327

45.25

WEST PALM BEACH

63,305

67,643

82,103

99,919

103,038

113,131

6,228

55.48

TOTAL COUNTY

576,758

863,365

1,131,191

1,320,134

1,345,652

1,465,300

143,837

1,976.56

3.   Healthier Economy.

Florida’s job rate dipped to 6.4%, this December. Yes, we have a long way to go and the recovery has been anemic at best, but the panic of 2009 is in the rear view mirror.

4.   Investors

Hedge Funds and investors like Warren Buffet have bought much of the inventory on the lower end of the market. These investors are running it like a profitable business and this got rid of much of the excess supply.

5.   FHA Lending

FHA lending, which requires less of a percentage down, opened up more opportunities.

6.   Short-Sales Are Winding Down

Without these “must sellers”, the low prices are no longer available.

7.   Short-Sellers from the Past Are Now Purchasing

People who short-sold early on are now getting their credit back and are reentering the market as purchasers.

8.   Pent Up Demand

Many people wanted to move but couldn’t for financial reasons or couldn’t sell their home. The market not frozen allows them to sell and then they can make a purchase. Also, homes have aged and people want something new, or they became empty nesters, etc.

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Lighthouse ArtCenter Museum, Gallery, & School of Art

February 7th, 2014

If you enjoy art, photography, painting, ceramics, sculpture, portrait, Photoshop or photography, then the Lighthouse Art Center might be for you!

Founded by Christopher Norton, the main location is in Tequesta with a satellite location at Midtown Center in Palm Beach Gardens. About 60,000 people are serviced annually through the school or art classes, the museum, and gallery exhibitions

There are some fabulous events coming up including the Pop Art Movement February 20-23rd, Billionaire & Butterfly Ballots (Cartoonist, David Wilson of Palm Beach Daily new’s original drawings), Plein Air Festival (festival will feature a Kids’ Paint Out, Artist Demos, Wet Art Sales, Quick Draw Contest, & Cocktail.

To read more about the current events CLICK HERE.

About The Lighthouse ArtCenter

The Lighthouse ArtCenter, a member-supported 501(c)(3) nonprofit organization, provides visual and performing arts for the community through unique collections, engaging exhibitions and cultural programs, a dynamic School of Art and diverse outreach activities.

As northern Palm Beach and southern Martin counties’ oldest and largest visual arts organization, the Lighthouse ArtCenter is a two-building operation featuring a museum and a school of art. The museum has a fine art collection, diverse and educational exhibits, docent tours, lectures, concerts and special events. The Lighthouse ArtCenter was founded in 1964 by a group of eight artists and Christopher Norton, son of the founders of the Norton Museum of Art in West Palm Beach, Florida.

The Lighthouse ArtCenter School of Art offers classes for children and adults, beginner through professional levels in ceramics, drawing, encaustic, jewelry, painting (acrylics, oils, and watercolors), photography, Photoshop, portrait and figure instruction, sculpture and more. Special needs classes are also offered for adults and children.

Educational summer and winter ArtCamps, for children ages 4-12, teach art utilizing math and critical-thinking skills in the instruction. Scholarships are offered to children in need. Museum tours and art activities are available to schools from preschool to college levels, as well as to adult groups and individuals.

The ArtCenter is a Green organization, with a recycling program, and recycled materials are often used in the children’s art projects. Every May, there is a museum-wide Kindergarten through 12th Grade exhibition from Palm Beach and Martin counties schools with opening reception in which awards are given to the children and participating schools. More than 1,200 people attend these ceremonies.

An Art Outreach program provides educational art experiences for underserved populations and communities, where an art teacher and art supplies are sent on location to teach disabled, seniors, nursing home residents, special needs populations and low-income area schools where art programs have been eliminated. Funds are raised throughout the year to provide this program free of charge to the recipients. Each week nearly 50 people are provided with these free classes.

The ArtCenter offers professional opportunities for artists to exhibit, connect with collectors, increase their incomes and exposure, as well as learn professional practices. The ArtCenter sponsors many off-site exhibitions, including the Lighthouse ArtCenter Gallery at Midtown on PGA Boulevard in Palm Beach Gardens.

For nearly 50 years, the Lighthouse ArtCenter has been enhancing lives through art and has built a community of artists and art lovers who gather together to share the joy and wonder of art.

Facts about the Lighthouse ArtCenter

• Founded in 1964, the Lighthouse ArtCenter Museum, Gallery & School of Art is the oldest cultural institution in northern Palm Beach and southern Martin counties.
• Founded by eight artists and Christopher Norton, the son of the founders of the Norton Museum of Art
• The Lighthouse ArtCenter is a nonprofit charitable organization serving nearly 60,000 people annually.
• More than 1,300 artists are involved
• More than 2,100 area youth participate
• Annual enrollment in School of Art classes for ceramics, drawing, painting, sculpture, jewelry design, photography and other media is nearly 2,500 students of all ages.
• More than 400 youngsters, ages 4 to 15, attend winter and summer ArtCamps
• The ArtCenter raised funds to send 36 children to the 2013 Summer Enrichment ArtCamp.
• Annual paid membership base is approximately 1,500
• More than 200 cultural activities, art events, lectures and exhibitions are offered annually
• The ArtCenter offers a FREE first Saturday half-day art program for special needs adults.
• The ArtCenter provides FREE ArtReach programs that provide instructors and art supplies to nonprofit facilities that serve the special needs, elderly and disadvantaged in our community.

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MGA/Scripps Golf Tournament at BallenIsles on March 19th, 2014, to Wipe Out Prostate Cancer

February 7th, 2014

Just like we go Pink, we also need to help out Blue.

Prostate Cancer usually occurs after the age of 50 and has the 2nd-highest rate of cancer-related death in the United States. Jack Robbins, a stage 3 prostate cancer survivor, is chairing an event in BallenIsles Country Club to help combat this disease. You will enjoy 18 holes of great golf, a meet & greet with PGA Tour Champion Bruce Fleisher, learn about the latest advances from the Scripps Chairman, Putting Contest, Silent Auction, Viking River Cruise for 2, and much more. See the invite from Jack Robbins below. You do not have to belong to BallenIsles to participate. All proceeds are tax deductible and go to Scripps Research.

Most Sincerely,

Jeff Lichtenstein

————————————————————————————————————————————————————————————————————————————

The Men’s Golf Association (MGA) of BallenIsles Country Club is sponsoring its 5th, Annual Golf Tournament for the eradication of Prostate Cancer on Wednesday, March 19th, 2014.

The proceeds from this year’s event will be used to fund cutting edge Prostate Cancer Research at The Scripps Research Institute in Jupiter, Florida. They are our neighboring facility and part of one of the world’s largest and most successful not-for-profit research organization, Scripps has significant commitments to Prostate Cancer Research, (www.scripps.edu/florida) Unlike other organizations every penny raised, (100%) of your contributions will be used to help find a cure for our Grandfathers, Fathers, Sons & Brothers whom we all love dearly.

The Men’s Golf Association of BallenIsles raised $105,860 at our last event and with your help, we hope to exceed that amount during our upcoming golf tournament. All donations will be net to the Scripps Research Institute; you will receive a letter attesting to the tax deductibility of your gift.

As we help in the battle against Prostate Cancer, the continued success of our event can only be attained by support and contributions from people and companies like you. The attached brochure outlines various opportunities to support this worthy cause. These opportunities range from Corporate Sponsorships to automobile leases, vacations, sports equipment, other products and gift certificates. They will be included in our live auction, silent auction, and raffle prizes.

We, of course, will list you as a supporter and a donor in our event signage and program as well as insert your business information in all of the participant’s gift bags. Each of our 3,500 residents will learn that you are a caring contributor to our community’s important Prostate Cancer Research Fund Drive. For more information about BallenIsles, please go to www.ballenisles.org. For information about Scripps, please refer to www.scripps.edu/florida.

We look forward to your positive response by February 28, 2014. Thanking you in advance for your support.

Sincerely,

Jack Robbins
MGA/Prostate Cancer Committee Chair
Email: jack.robbins4@gmail.com
Cell: (201) 522-2767
THE SCRIPPS RESEARCH INSTITUTE IS A 501(C)(3) NOT-FOR-PROFIT ORGANIZATION. A COPY OF THE OFFICIAL REGISTRATION (#CH17266) AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE (800-435-7352) WITHIN THE STATE OF FLORIDA. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE

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New Construction in Jupiter | Juno Beach | Palm Beach Gardens in 2014

February 7th, 2014

Since the real estate market fell apart in 2008, there has been very little new construction. Now, however, a number of new projects and existing unbuilt-out projects have been selling very quickly. For example, Water Club, Old Palm, and The Bear’s Club. We’ve had sales in all 3 of those communities in the past 60 days! Even in existing communities, there is new construction. There have been 15 tear-downs in Admirals Cove and Frenchman’s Creek over the past 15 months.

What’s exciting is that we are starting to see new projects. Water Club is composed of 2 stunning contemporary towers that will be built starting later in 2014 overlooking the Intracoastal Waterway. This project was due to be built about 10 years ago, but the market derailment stalled it. Prices will be between $700,000 – $2,000,000. They have sold 49 of the 166 units in just a few months. At this rate, they could sell out before they begin construction!

Water Club

Water Club Rendering

There are also 2 other rumored condo projects in North Palm Beach/Palm Beach Gardens on the Intracoastal that are a few years off.

There are three single-family home projects in Palm Beach Gardens that have started. Frenchman’s Harbour actually started a year ago and has been very successful. Another development is a 29-unit custom-home complex in Juno Beach. Prices will be between $900,000 – $1,500,000. Lastly is a development near BallenIsles on Military Trail. It is not part of the club.

A big rental apartment complex in Palm Beach Gardens is now finished. Land is clearing for one in Jupiter off of Military Trail and 2 townhouse projects are nearby.

Lots of construction on Island Way in Jupiter. A monster project with land being cleared now, called Prada, has begun. Hidden Bridges, a small, 16-home development, also has lots available. Of course, Rialto is very far along. There is also another small development a bit farther up toward Tequesta. Divosta is looking to build west of the Turnpike on Indiantown Road, but that one has not been approved yet. Another development is in the planning stage on I-95 and Donald Ross Road.

Near Ibis, The Preserve, 194 estate homes in gated Bay Hill Estates, has been opened for over a year. They are already past the halfway mark of completion.

Cary Lichtenstein is our New Construction Expert. He can be reached at (561) 379-2020 or cary@JeffRealty.com. Cary specializes in working with high-net-worth individuals, both in finding properties for Buyers and listing homes for Sellers. You will find Cary’s background rather unique among real estate professionals. He has a dual degree in finance & economics from the University of Illinois. He later earned a JD at DePaul Law School in Chicago and was admitted to the Illinois Bar. Rather than following a legal career, he opted to enter the family home furnishings business which he grew 20-fold and then sold at age 53 to Leggett and Platt, a Fortune 500 company, and retired to Jupiter, Florida. His bucket list included playing the top 100 US golf courses.

Cary then took up oil painting as a hobby and entered his son’s real estate business. Cary has sold homes, condos, and vacant land on the ocean from Jupiter Island in the north end to Boca Raton in the south end, and in gated/non-gated communities such as The Bear’s Club, Admirals Cove, Loxahatchee River, Old Palm, Ritz Carlton Singer Island, Water Club, and many more. Cary is up to speed on all of the new construction projects in the area and you will find him an incredible wealth of knowledge.

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