More Buyer’s Fins Coming to the Surface in Palm Beach Gardens

Home sales in Palm Beach Gardens hit new 11 month high

As we reported here yesterday, prices on single family homes in the Palm Beach Gardens area continue their climb. Up to another new 7 year high; for the 7th straight month. The one thing we need to keep this pricing momentum moving is strong sales and that is just what we got during the month of May. In fact, locally buyers were more active than at any time since July of last year.

Home Sales

Sales in the region were up over 27% from the previous month and about 21% over the 12 month average. Very strong numbers and what we expect this time of year especially with the strength we have been seeing in pending home sales. Interest rates remain very near 7 month lows with the average overnight rate on a conforming 30 year note sitting at 4.17%. All wonderful news.

Rising home prices are bringing more and more home owners into a positive equity position. This is a very important factor as they now have the ability to sell without having to bring a check to the closing table. The are now able to sell their home which should help add quality inventory to the market in the coming months. We are talking about proud homeowners who have keep up on their mortgage obligations during difficult times, fought to keep their home. Proud people who tend to take very good care of their property. It is exactly the kind of inventory our market is craving.

Florida still has a large number of homeowners underwater on their mortgages so we are not yet “out of the water”. But we are seeing more fins above the surface and that is a very good thing. The sunshine state currently ranks 2nd highest in the nation, behind Nevada with over 26% of our borrowers owing more of their homes than they are worth. They need prices and sales to remain strong. We need more fins out of the water.

We expect sales to slow a bit over the summer; it’s almost inevitable. But if we can hold are own watch out once the 2014-2015 season rolls around. We keep telling you it is going to be busier around here than you have ever seen. And we meet ever, like in history. That means more buyers, looking at fewer properties and higher prices. And more fins out of the water.

If your fin is just coming to the surface Paradise Sharks value can help you move quicker so please feel free to give us a call for a complimentary consultation. Real estate services focused on the customer. Just like the good old days. Interesting, and fun.

Fins up…..

Tom Priester
Principal Broker

Paradise Sharks Real Estate
Direct 561.308-0175


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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different… design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at You can always pay more and receive less but that just would not make any sense. Would it?

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