The real estate market for private homes might be in trouble elsewhere, but not in Manalapan. In September, an ocean-to-Intracoastal Waterway Mediterranean-style home and guesthouse at 820 S. Ocean Blvd. sold for a record-breaking $25.5 million. Read More

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South Florida is often called a “playground for the rich and famous,” due to our year-round sunshine, posh nightlife and lavish homes that attract the wealthy and successful.And that comes as no surprise to the region’s realtors specializing in luxury home sales, who record their fare share of high-end home deals involving celebrities.  Nary a week goes by that a celebrity – be it a sports star or an entertainer – is in the news for inking a whopping home sale or purchase in the seven-digit-plus range.- See More

The headline came courtesy of guest speaker Dorothy Jacks, chief deputy property appraiser at the Palm Beach County Property Appraiser’s office.  By and large, her office’s latest estimated “market values” for single-family properties in Palm Beach have returned to pre-recession levels, Jacks said. Cue the applause. According to the numbers prepared for the new tax rolls, the assigned values for houses and single-family residential properties on the island are estimated to total $11.1 billion.  That number contrasts to the $11.3 billion recorded Jan 1, 2008 – 11 months before the recession arrived in Palm Beach. – See more

We’re excited to share our recent success with the listing and sale of 705 S. Ocean Blvd, a 1.2-acre Delray Beach Florida oceanfront land parcel for a record breaking $10.8 million, setting a new record for highest dollar amount for oceanfront land in Delray beach within the last 5 years. Within the past 3 years, our team has also sold the last 4 land deals in the oceanfront estate section of Delray Beach. Take a look at our press release for more details!

An oceanfront residential parcel in Delray Beach changed hands for $10.8 million.Michael and Robin Gusky sold the 1.2-acre property at 705 South Ocean Boulevard in a transaction recorded on Tuesday, according to Palm Beach County records. The couple paid $8 million for the parcel in November 2005. The property’s zoning allows for the construction of a large single-family home.CMR Holdings is the buyer. The company is registered in Virginia but has a Greenwich, Conn. mailing address. No financing was recorded.

Chris Bosh and the reigning back-to-back champion Miami Heat have another reason to boast: they own four of the five most expensive homes in the entire National Basketball Association.The Heat’s ‘œBig Three’ of Bosh, LeBron James and Dwyane Wade appeared on HoopsHype’s list of the 10 priciest residences owned by NBA players, according to Bleacher Report. Bosh shows up twice, as the forward’s $12.3 million Miami Beach mansion topped the list and a $9.4 million California home he owns ranked third. During the NBA Finals last June, Bosh had to shut down rumors that he and wife Adrienne were looking to sell the 12,368-square-foot North Bay Road manse.
James and Wade occupied the fourth and fifth spots, paying $9 million and $8.9 million, respectively, for their South Florida residences.California and Florida are the two most popular states for NBA players to buy homes in, followed by Texas.

At the end of last year, Fort Lauderdale developer Dennis Eisinger banned smoking inside the units of his luxury condo project called AquaVita, the only development in Broward and Palm Beach counties to do so.Now Eisinger has announced plans to build more homes for nonsmokers with partner developer Jean Francois Roy, the Sun-Sentinel reported.Sixteen smoke-free units are to be built at a new tower called Aqualuna on Isle of Venice Drive. The units are priced between $1.25 million and $2 million.

Another new Eisinger tower in the works, 1800 Las Olas at 60-80 Hendricks Isle, would have eight nonsmoking units priced between $1.2 million and $2.4 million.

Residents can only smoke on their balconies, and violators would be fined up to $100 by the community association. State law already bans condo residents from lighting up in common areas, but the law doesn’t extend to individual units.

Sales are scheduled to begin within the next six weeks, and the condos are slated to open at the end of 2015.

(via The Real Deal)

Home flipping ‘” defined as when a home is purchased and subsequently sold again within six months ‘“ was serious business in 2013, according to new data from RealtyTrac. Last year, 156,862 single-family homes were flipped across the country, a year-over-year increase of 16 percent from 2012 and a whopping 114 percent increase from 2011.Home flips made up 4.6 percent of all U.S. home sales in last year, up from 4.2 percent in 2012 and 2.6 percent in 2011. Profits on a flip also jumped to an average of $58,051 in gross profit, up from $45,759 in 2012, RealtyTrac data show.
Although home flipping activity was up across all price ranges, home flips on properties worth $400,000 or more saw the greatest increase in activity ‘“ 36 percent year-over-year ‘“ according to blog Zero Hedge.‘œStrong home price appreciation in many markets boosted profits for flippers in 2013 despite a shrinking inventory of lower-priced foreclosure homes to purchase,’ Daren Blomquist, vice-president of RealtyTrac, said in a statement seen by the website. [Zero Hedge]  ‘“ Hiten Samtani