MikeInBoca Blog

  5 Things To Know Now The chief economist for Realtor.com recently published a piece about the “five things you should know about the housing market now.” The first thing mentioned was the prediction that mortgage rates will continue to rise.  Realtor.com also stated there “are not enough homes for sale.” As such, this will limit your choices as a homebuyer in the current market.  The third thing mentioned is the expectation that home prices will continue to rise in most markets, just not as quickly.  The article also predicted that home sellers will continue to have the advantage over homebuyers, but not as extreme of an advantage as home sellers previously enjoyed.  And the last piece of advice from the chief economist at Realtor.com was not to let “FOMO” (fear of missing out) cause you to purchase a home that you don’t love.  The take away from the article seems to be things are changing in the US real estate market, but the expectation is they won’t ch...

As a local Realtor who focuses on the Mission Bay Boca Raton community, I continuously follow the market here. I am committed to keeping up on home values and the latest information on the Mission Bay community in Boca Raton, Florida.   My analysis of the Mission Bay Boca Raton community for February 2022 shows the trailing twelve month average home sold for about $544,000 and at about $245 per living square foot.  The median amounts were estimated to be $530,000 and $240 per living square foot for the same time.   I believe median home price per living square foot grew by 21% and the average was up more than 25% in February 2022 over 2021.   During February 2021 there were three homes closed in Reflections section and one home in Las Flores and another in Harbour Springs; there was a total of five home sold February 2021. Sales: 20507 Via Marisa  20951 Via Almanda 4 10477 Mateo Court 10356 Mateo Court 11169 Harbour Springs Circle During February ...

  CNN: Now Is The Time A recent CNN Money article titled, “Thinking About Selling Your Home? This May Be The Time” stated that home sellers who are looking to get top dollar for their home, “the time to sell is now.” The reasoning is not that there will be more inventory, but, instead that there will be less demand.  Some experts predict peak home prices could happen now or in June 2022.  They point to mortgage rates over 5% and the projection that mortgage rates will rise. Generally, home sellers are slow to recognize the change in the market and might still expect crazy bidding wars. When there is no quick sale and a lack of offers, home sellers might realize they need to lower their asking prices.  I know from my recent experience potential sellers are worried about not being able to find another home in which to move.  Innovative solutions can make it possible to sell out at the potential peak of the market and still be able to make the move. Contact me to d...

The graphic shows information from the Florida Realtors that shows single family home prices rose by 31% in March 2022 over the previous year. Boca Raton single family median home price was $860,000 and townhouse and condo median price was $460,000 in March 2022.  The recent increase in mortgage rates will most likely hamper price appreciation for the remainder of the year.  However, home sellers and home buyers should keep in mind that year-to-date March 2022 almost 60% of single family home purchases and about 64% of condo and townhome purchases were cash sales in Boca Raton.  The supply of homes in the Boca Raton market remains scant at approximately one month of inventory for single family homes as well as condos and townhomes.  As of right now, our local market does not seem to have changed much despite the recent swift rise in mortgage rates. I am here to help you or anyone else you know who has a real estate need. home search : CLICK HERE Follow my Facebook...

  Live: Country, Comedy, Wu Tang, Disney & More! Having grown up in New York City, I was used to having many concerts available during the summer months.  There were always multiple arenas to view a variety of shows. Luckily, we have a bunch of venues to view wonderful outdoor concerts in our area as well.  – This summer we can view live country music, stand up comedy, rap shows and even a Disney sing along . It’s local, cozy venues and it won’t cost you as much as it would in Madison Square Garden.  Tim McGraw and Miranda Lambert are playing, followed by the comedy of Bill Burr and Nick Cannon . Dave Matthews , Doobie Brothers and Kid Rock will be there as well.  The Disney Encanto sing along will perform as well as my hometown hip hop group the Wu Tang Clan .  These shows and others will be performing at the amphitheater in West Palm Beach during the next several months.  You can get lawn tickets for as little as $40.  For more informat...