THE GOOD NEWS

According to the National Association of Realtors:

·        Existing home sales increased 2.7% nationally

·        This is the first time in 7 months that sales activity was higher than a year earlier

·        Chief Economist Lawrence Yun says

o   Home sales uptrend is consistent with improvements in the economy and jobs

o   Consumer confidence is boosting

o   Affordability conditions are a big factor

o   Tight credit has resulted in high levels of all-cash purchases primarily for distressed homes sold at deep discounts – which pulls the median price downward but traditional homes in good condition have held their value

o   Investor activity is another factor re purchasing undervalued homes

·        In January, first time buyers bought 29% of homes sold

·        Investors bought 23% of purchases in January

·        Housing inventory is at a 7.6 month supply, lowest level since 12/2009

·        Existing-home sales increased 3.6% in the South

NAR is America’s largest real estate trade association, representing 1.1MM members involved in all aspects of the residential and commercial real estate industries.

GOOD NEWS AND BAD NEWS ON THE HOME FRONT

Zillow reported that south Florida home values are down 15.4% year-over-year in 4Q2010.  Home Value Index fell to $139,100 from $160,000 at end of 2009.

 Housing bargain sales wins prevail with big losses for many sellers.  This IS THE BEST TIME EVER to buy in Florida.

Foreclosures in Florida fell 54% according to Realty Trac year-over-year in January 2011.  Foreclosure filings last month were 21,671 in Florida, one for every 409 housing units in the state which is 15.4% lower from December 2010.

 What to make of this?  An interesting 9-acre man-made island between Aventura and Sunny Isles Beach is on the market for $49.5MM reports  Condo Vultures.  In the 1950’s the DOT created the island as part of a massive dredging effort.  Assessed value?  $3MM or $7.90 per sq ft according to the Miami-Dade County Property Appraisers Office.   Sounds like an interesting deal… so let’s wait and see who (if anyone) buys this island!

 Mortgage interest rates are going up… rate topped 5% for the first time since last April.  Rates, however, are still historically low according to Florida Realtors organization, and there is actually a $100 a month jump on a $200,000 loan since the lowest rate in November.   Rates follow the 10-year Treasury note yields, heading up with inflation fears.   Many buyers are paying cash.

WANT TO SEE THE NEWEST DECORATOR MODELS?

Model Tour: 1200 Hillsboro Mile, Before & After – 2/8/2011 at 2 pm

Join the Robb & Stucky Design Team of Rene Evans, ASID and Richard Ramus at 1200 Hillsboro Mile for a private tour of their beautiful model. This is an opportunity to see the “before” unfurnished unit and the “after” decorated model–and the transformation is amazing. This event is offsite. The model is located about 1 mile south of Hillsboro on the west side of A1A. Reservations are required so please call early to reserve your space and to receive directions. No cameras, please.

Model Tour: Villas By The Sea, Before & After – 2/16/2011 at 2 pm

Have you ever wondered how a designer finds inspiration and then transforms it into a design concept? Join Robb & Stucky Design Associate Ron Acosta on-site at Villas by the Sea. Ron will start the tour in an unfurnished unit, then continue to the completed model for comparison. He will share his design process, and the secret that inspired the special look of this incredible Oceanside model project. Meet first at the Sales office for Villas by the Sea, located off A1A just north of Commercial Blvd in Lauderdale by the Sea. Reservations are required so please call early to reserve your space and to receive directions. No cameras, please.

Please call (561) 862-5597 to reserve; reservations are limited!

RECENT STUDY SHOWS WALKABILITY ADDS VALUE TO A PROPERTY

Ceo’S FOR Cities, a national consortium of civic and business leaders, did a 2009 study and found that homes where you can walk to the supermarket and other stores, schools and parks will be valued at $4,000 to $34,000 more than those with less walkability where you have to drive to get to amenities.  The bigger, more urban the city, such as Miami, the higher value walkability adds.  Nearby public transportation also boosts value.

The study covered 94,000 real estate sales of comparable homes in 15 major markets. 

You can use Walkscore to rate the walkability of your home or a home you are considering purchasing. 

HAVE A GREAT TIME IN DELRAY BEACH

A PEEK AT DELRAY BEACH

Delray Beach is the type of coastal town that has it all: unobstructed beaches, shops, the restaurants and definitely, the entertainment.  A little bit for everyone to enjoy.  Delray does a great job with its festivals and fairs.  They close a main street and fill it to capacity with vendors, musicians and artists in a blink of an eye.  When is all over done with, it comes down just as fast as it went up. 

Come on downtown on Thursday, January 27^th for Art & Jazz On The Avenue.  Once a month, during the season, and on a Thursday from 6-10 pm, live musical entertainment is presented, On the Avenue.  Open house specials, and gallery exhibitions are will be browsed at the very least.  Even though it is On the Avenue, it will also extend to the SW 5th Avenue Plaza. 

Highlights will include:

• Florida Panthers’ Partymobile --- interactive games and the launch of the team’s new video game --- at the Delray Beach Magazine booth in the 300 block of East Atlantic Avenue.
• Palm Beach Makos and Cheerleaders in the 400 block of East Atlantic Avenue.
• Exhilarating skateboard course designed and constructed by Stoner Skateboards in the 600 block of East Atlantic Avenue;
• Sports clinics led by Atlantic High School sports leaders on the Great Lawn by Old School Square.
• City of Delray Beach Parks & Recreation sponsored dance and fitness demonstrations and performances led by the Delray Divas, Diamonds and Pearls and Delray Rocks and Cheerleaders Dance, also on the Great Lawn by Old School Square.
• Yankee great Roy White, the Roger Dean Stadium inflatable hitting bay and the Allianz golf hitting bay – all in Worthing Park.
• Representatives of the International Tennis Championships and the US Tennis Association in the 200 and 400 blocks of East Atlantic Avenue.
• Cycling on Your Mark in the 300 block of East Atlantic Avenue.
• Miss Geico 50-foot racing boat with jet turbine engine will be on display in the 500 block of East Atlantic Avenue and sports car along NE 1^st Avenue.
• Roaming Drew Tucker Stomp Band
• The Heavy Pets, a production of 102 Degrees, will be performing on the Old School Square Entertainment Pavilion with Stampede as the opening act. The concert will benefit Delray Beach’s Caring Kitchen through donations collected by volunteers. An after-party hosted by the new Pineapple Groove will start just after the concert.  
• Jim Kolvacik Trio in the 100 block of East Atlantic Avenue
• Groove Merchant and Atlantic High School Jazz Band on SE 4^th Avenue.
• Jazz Stream in the 400 block of East Atlantic Avenue.
• Al Johnson in the 500 block of East Atlantic Avenue.
• Visitors to the Vista BMW tent will be invited to register for a chance to win a new BMW 135i. Details will be available on site.
• Representatives of the Boca Artists Guild in the 100 East Atlantic block.
• Avalon Gallery at 425 E Atlantic Ave.
• Blue Coast Art Exhibit at 110 E Atlantic Ave.
• Blue Gallery at 600 E Atlantic Ave.
• Cacace Fine Art Studio & Gallery at 135 E Atlantic Ave.
• DeBilzan Gallery at 38 E Atlantic Ave.
• Delray Art & Framing at 321 E Atlantic Ave.
• Ford Fine Art at 235 NE 4^th Ave. #101
• Forms Gallery at 415 E Atlantic Ave.
• Kevro’s Gallery, Media Studio & Art Bar at 166 SE 2^nd Ave.
• Ora Sorensen Gallery at 445 E Atlantic Ave.

 Art & Jazz will extend to the SW 5^th Ave Plaza with entertainment from:

• Beacon Center first- and second-grade classes, creative dance team and Village Academy praise dancers.
• Creative dance team, Step Club and Drum Line of the Family Resource Center.

FREE ADMISSION!

DELRAY MARKETPLACE COULD BREAK GROUND THIS SPRING

Soon a 300,000 sq ft project that has been discussed for three years will be going up in West Delray Beach at the corner of West Atlantic Avenue and Lyons Road between the Florida Turnpike and 441.  Lyons is being extended from Boynton Beach Boulevard south to Atlantic Avenue, which will be widened.  The location provides easy access from Boca Raton, Delray Beach and Boynton Beach.  The neighborhood includes high-end gated communities, golf/country clubs and resorts and high wuality new home construction.

Among the new tenants are a restaurant by Burt Rapoport, Chicos (women’s clothes) a movie theater with 12 screens, Publix and a Max’s Grille, partly owned by Rapoport with a successful and popular eatery in Mizner Park.  16 bowling lanes are planned.  A Sony Digital Lounge is planned.  Other tenants being approached include Orange Leaf Frozen Yoghurt, already with locations in Delray Beach and Mizner Park, and Devon Seafood restaurant.

TIME FOR A WALKING TOUR OF HISTORIC PLACES IN PALM BEACH?

Worth Avenue is considered one of the best world wide upscale exclusive shopping streets, with many top name luxury retail stores, jewelers, art galleries and restaurants.  Walking down Worth Avenue, in and out of the pretty and picturesque flowered alleyways, browsing or buying, can occupy a happy afternoon.  

Five major architects are responsible for charming, elegant old-world Mediterranean-style buildings in the Worth Avenue area – Addison Mizner, John Volk, Howard Major, Maurice Fatio and Marion Sims Wyethe.  The Everglades Club was built in 1918 and is still beautiful.  These architects are also responsible for many commercial and residential buildings.  The Palm Beach Preservation Foundation’s mission is to preserve the architectural and cultural heritage of the Town of Palm Beach and the scenic quality.  Awards are given to properties for their preservation efforts and results.

Built in 1925, architects for the Brazilian Court Hotel were, Rosario Candela (1925) and, Maurice Fatio (1936).  The property began as a Mediterranean Revival style residence, and later added a south wing and was landmarked in 1994.  Fatio built many beautiful homes in the area, as did the other architects mentioned above.  These stately elegant properties still stand, well loved and lived in, a testament to the abilities and quality of materials used by these architects in the early 1920’s.  In 2010 this hotel was designated #1 in Florida by Travel & Leisure Magazine. 

Now a 5-star hotel, you might want to stop for an exciting lunch or dinner at Café Boulud.  The courtyard in back is charming and romantic. A reservation for a room or suite will result in an elegant, memorable vacation.  The courtyard in back is charming and romantic. A reservation for a room or suite will result in an elegant, memorable vacation. You can walk to Worth Avenue or head to the beach with jeep transportation provided.

At 450 Worth Avenue, Casa de Leoni, built in 1920 by Addison Mizner, favors a Venetian design.  This property received the Preservation Foundation Ballinger Award for Restoration in 1995.  At 456 Worth Avenue, sits Villa des Cygnes, built by Addison Mizner in 1922.  In 417 Major Alley there is a small row of Bermuda style homes built by Howard Major in 1925.

In 1994, Pan’s Garden at 386 Hibiscus Avenue became a Preservation Foundation project, and won many awards.  See many Florida native plants at this delightful, serene Botanic Garden.  At 319 Brazilian Avenue, a typical Palm Beach bungalow was built in 1910 and given the Preservation Foundation of Palm Beach Ballinger Award for Restoration in 1995.  Tours are available for school children.

The oldest house in Palm Beach is Sea Gull Cottage, built in 1886, in 1993 Henry Flagler’s first winter home.  In 1913 it was moved to the oceanfront as part of the Breakers Hotel.  The property has won many awards.

For exclusive walking tours for groups, call 561-659-6909 and be treated to the history of the area by James Ponce, who is called Palm Beach’s only “Two Legged Historical Landmark” by the Palm Beach Town Council.  Hear the facts and fables of Palm Beach’s illustrious history and celebrity residents.  Tours are scheduled to start at 11 a.m. in the Gucci Courtyard at 256 Worth Avenue on January 12,  January 26, February 9, February 23 and other dates thereafter.  Call to reserve.

THE LITTLE RED SCHOOLHOUSE in PALM BEACH

Pioneer Day at the Little Red Schoolhouse in Palm Beach is tentatively scheduled for Tuesday, January 15, 2011 from 1-3 pm.  Check with the Preservation Foundation at  561-832-0731. It is now home to a program of Palm Beach’s living history taking children back in time for a mini-day in a one-room school of the 1890’s, home to The Preservation Foundation of Palm Beach.

The Little Red Schoolhouse is in Phipps Ocean Park in Palm Beach, 2185 South Ocean Drive in Palm Beach.  Refurbished in 1960 by the Gardeners Society of Palm Beach and the Town of Palm Beach, it remained unused until 1990 when it became part of the pioneer education program.  Education in America’s one-room schoolhouses stressed discipline, moral values and “the 3 R’s.”  Visiting students today participate in a spelling bee, trace Spencerian script and recite from Tom Sawyer, Little Women, The Ancient Mariner and McGuffey’s Readers.  Period artifacts are also part of the pioneer educational experience.

Starting with seven students in 1886, there were 35 students by the 1880’s.  The schoolhouse was located about a mile north of the Royal Poinciana Bridge on Lake Trail in Palm Beach.  Children arrived by boat, bicycle or on foot from Lake Worth families and were all taught together in one room.  The school ceased operation in 1901 and became a tool shed on the John S. Phipps property, falling into decline and deterioration in future years.  

Preserving past educational history and its artifacts is so important to the school children of today.  There are interesting positive lessons to learn from the past.

DECEMBER 26, 27

COME TO THE 4TH ANNUAL

DOWNTOWN DELRAY BEACH

ART AND CRAFT SHOW

 Delray Beach will hold the next Art & Craft Fair in Pineapple Grove, north on NE 2^nd off Atlantic Avenue, from 10 am to 5 pm.   More than 100 booths will be featured.   Items to browse and purchase will include some of the finest arts and crafts in the US, e.g. life sized sculptures, paintings, handmade jewelry, pottery and some very unique treasures.  Don’t miss the adjacent crafters market place with handmade body products, beautiful candles, wood plant holders and an expansive green market.

 Show is now closed in jewelry category and only wait list applications will be accepted for this category.

 Exhibitor parking is at City Hall on NW 1^st Avenue.  Both size is 10’x10’ but a double space may be available too.  For show fees email info@artfestival.com.  Setups begin at 5 am Saturday morning.