Spotlights on Boca Raton Home Values and Mortgage Rates

Our Boca Raton Homes News has information today on the premier areas of Palm Beach County. The South Palm Beach County area of Boca Raton has seen arrangements of Condo Developments and other real estate property developments.

Some Home Selling experts predict the Boca Raton market is growing while others say it is very strong already. Our Staff sees a far more likely chance to see growth rather than stalled sales. This area of Florida has seen property values increase but not to the days before the results of the community reinvestment group’s action.

The Real Estate Mortgage lenders in Boca Raton say that as home values rise, more home owners are grabbing some of their equity by pulling cash out with refinances.

We saw the housing trends on Zillow and other websites so that has helped us want to talk about the Mortgage rates in Florida.

Our Real Estate News Department would like Boca Raton Home Buyers to look at these lower rates for Mortgage Home Loans. Although there was an increase in recent Mortgage Rates, the rates are still very low compared to previous decades. With all that being said, you may want to look Boca Raton Homes For Sale.They have homes, condos and townhouses which will appeal to every Florida home buyer.

bocaratonflproperty.com

Cool Homes in the Best Neighborhoods from HGTV FrontDoor

It is a great day to search for homes and condominiums for sale. This posting has high tech and some of the coolest real estate listings. As you search for houses for sale you will discover some the best neighborhoods and famous houses in your area with the help of on HGTV FrontDoor.

Buyers and Investors can search the cool Houses from New York to Florida to California,

Boca Raton Housing Affordability Index and Anna Kournikova

Boca Raton, Florida - Many readers keep wanting information on where Anna Kournikova's house for sale is located. We respect her tennis abilities yet don't have information on the Anna Kournikova home or condo. We do see a magnificent new Library in Boca Raton, Florida. The Owner is the sunny City of Boca Raton. The Architect, Slattery & Associates, did a terrific job with the Spanish River Library in Boca Raton Florida.

Spanish River Library in Boca Raton Florida

The Spanish River Library and Community Center offers several well-appointed and functional rooms and areas within the Library which may be reserved for meetings or private events. Detailed information about room reservations, including fees, policies, and procedures, may be found in the Facility Usage Information Packet. Rooms are reserved on a first-reserved, first-served basis, and may be applied for by completing a Room Request Application.

Boca Raton Library Architect Highlights

This Library has a beautiful lakeside patio which is helpful for Boca Raton Home sellers. The Lakeside Patio offers a gorgeous view of the lake and the flexibility and interest of multi-level seating. The Florida Architect also has a convenient rooftop terrace. The Rooftop Terrace offers yet another spectacular view of the lake for both day and evening events, along with convenient access to the Lakeside Patio, the Changing Room, and Catering Prep area.

There is also a Mezzanine which is a large open indoor space on the second floor which overlooks the Library. There is a beautiful view of the lake through the tall arched windows on the first floor.

Housing Affordability Index Hits Record High

Housing affordability conditions have reached the highest level since recordkeeping began in 1970, based on the National Association of Realtors study. NAR’s Housing Affordability Index rose to a record high 206.1 in January, in accordance with the relationship between median home price, median family income and the average mortgage interest rate. The higher the index, the greater the household purchasing power.

An index of 100 is defined as the point where a median-income household has exactly enough income to qualify for the purchase of a median-priced existing single-family home, assuming a 20 percent down payment and 25 percent of gross income devoted to mortgage principal and interest payments. For first-time buyers making small down payments, the affordability levels are relatively lower.

Homes in Boca Raton Florida are Now More Affordable

NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said this latest data underscores buyer opportunities in today’s market. “This is the first time the housing affordability index has broken the two hundred mark, meaning the typical family has roughly double the income needed to purchase a median-priced home,” he said. “For buyers who can qualify for a mortgage, now is a very good time to become a homeowner.”

Mortgage Interest Rates Support Buying Boca Raton Houses and Condos

NAR projects the affordability index for all of 2012 will be at an annual high, with little movement in mortgage interest rates or home prices during the year. “Housing inventory levels have declined to a point where conditions are becoming much more balanced in much of the country. Florida Real estate specialists claim that If access to credit improves, we could see a much more meaningful increase in home sales. Also Florida could see a broader stabilization in home prices with modest gains in areas with stronger job growth.

Vacation Homes in Boca Raton Florida

Boca Raton, Florida - There are still a few Boca Raton Homes Investors coming from other areas of the Country. However with current traveling costs being so excessive Florida Real Estate Investors do not want to go too far from their main House. As Boca Raton Vacation-Home sales gain momentum, those aforementioned travel costs lure Buyers who live closer to Boca Raton, Florida. Sales of vacation homes are picking up as low prices pull buyers off the fence. But with travel costs rising and consumers still uncertain about the economy, many buyers are snapping up properties closer to home.

Boca Raton Real Estate and Vacation Homes

That is a change from the past decade when people often headed out of state to buy vacation homes near resorts and areas that were tourist destinations, including Orlando near Florida's Walt Disney World and the gambling Mecca of Las Vegas. Nevertheless these days, many vacation-home buyers are going old school and looking for Boca Raton properties in the more traditional-and less glitzy-vacation-home communities near where they live.

National Association of Realtors Statistics

A survey by the National Association of Realtors found that the median distance between a buyer's primary residence and his vacation home declined 19% to 305 miles in 2011 from 2010. It was the first decline since the group began keeping data in 2006.To be sure, vacation-home sales also are picking up in parts of Florida, Nevada and other states that have long catered to vacationers, although real estate agents say more of those buyers tend to be from nearby states and fewer are from far away. Also plenty of retirees still want to vacation in climates that are warm all year-round.

Boca Raton Vacation Properties in Florida

The shift in buying habits partly reflects the changing portrait of the typical vacation-home buyer. In the recent past, the vacation-home market was led by families looking for places with attractions for children as well as adults. But a growing number of buyers are older and seeking vacation homes that transition into retirement homes. Today's vacation-home buyers also are less affluent than in past years and more cost-sensitive. According to the NAR study, the average annual income of vacation-home buyers declined to $88,600 in 2011 from $99,500 in 2010.

Vacation Houses from Massachusetts to the Carolinas

Meanwhile, the values of vacation homes continue to fall, with the median sales price declining 19%, to $121,300 between 2010 and 2011, according to NAR. The trend is benefiting vacation communities near cities, including beach towns in the Northeast, from Massachusetts to the Carolinas, as well as lakefront enclaves in the Midwest and desert locales in California such as the Coachella Valley, according to real-estate agents.

Buyers for Florida Vacation Home Paying Cash

The rising cost of gas and airfares is a huge factor for many buyers. The average cost of a gallon of gasoline was $3.83 this week. While down from the two-year peak of $3.97 reached in May 2011, gas prices have been rising steadily since mid-December, when they fell to a 10-month low of $3.23 a gallon. Airfares, meanwhile, jumped 14% between March 2010 and March 2011, according to the U.S. Department of Labor.

Boca Raton Florida Remains Hot Spot for Investors

Florida remains popular with vacation-home buyers around the world, but these days an increasing number of American buyers are from neighboring states. Real Estate Investors have recently closed on a $1.3 million waterfront penthouse condos for example. Several of the waterfront communities in Boca Raton have had several closings. Other Florida Real estate Investors seek the Destin and Tampa Bay, St. Petersburg area.

Shopping Florida Homes and Retail Malls

Boca Raton, Florida - The premier Italian watchmaker expands in sunny in South Florida. Officine Panerai, which is a leading Italian luxury watchmaker, has recently opened two South Florida locations. These Retail stores are located in Bal Harbour Shops and on Worth Avenue in Palm Beach. This makes three Panerai locations in South Florida already. The Boca Raton Homes For Sale staff saw the boutique in Mizner Park of our Boca Raton. Both of the newly opened boutiques offer a selection of limited edition watches. There are only five locations in the U.S., with stores in Los Angeles and New York City.

South Florida Will Have 20 New Condo Towers

There are 20 condominium towers currently being proposed in South Florida. These condo Towers will include two downtown locations and another in South Beach. The 20 towers could have as many as 4,000 units in the area east of I-95. The moves come in part from a surge in foreign buyers prepared to pay with cash. The first condo tower near the coast to assemble a crane for vertical development is the 23 Biscayne Boulevard project in Miami. Miami Condos are a welcome change for many foreign Investors from Venezuela.

New Retail Tenants at Bal Harbour Shops

The Bal Harbour Shops Several new luxury tenants are debuting at the Bal Harbour Shops. These retail tenants include Breguet, CH Carolina Herrera, Panerai and Stella McCartney, with more on the way. The moves follow the high-profile departures of several retailers, including Louis Vuitton and Cartier; Hermes will also leave next year. It’s always been important for Bal Harbour Shops to maintain the allure of luxury. The exclusivity has always defined the Miami Shopping scene. Louis Vuitton is set to open a location in Miami’s Design District in 2014, after opening a branch at the Aventura Mall this year. The Design District is a work in progress that could end up being successful in a different kind of way.

The History Of Bal Harbour Shops

In 1965 when owner/developer Stanley Whitman opened the first exclusive high-fashion shopping center, on what had been the site of a World War II army barracks, retail experts scoffed at Bal Harbour Shops upscale store mix. At that time the norm was to mix essential service tenants such as grocery and hardware stores with retail. And with the advent of air conditioning sweeping the nation, enormous enclosed malls were being built at breakneck speed. Bucking this popular trend in shopping center development, Bal Harbour Shops was designed to celebrate the balmy beauty of South Florida. Ideally situated between the Atlantic Ocean and Biscayne Bay in the affluent village of Bal Harbour, the lushly landscaped, open-air mall didn't look or feel like any other center in America.

 Affluent Village of Bal Harbour and Paris Style Boutiques

From the beginning Bal Harbour Shops was successful largely due to Whitman's determination in persuading Neiman Marcus to open their first specialty department store outside its native Texas and in luring designer boutiques that previously could only be found along the Champs-Elysee in Paris pre-opening brochure rendering or New York's Fifth Avenue. Attracted by the immediate success of Neiman Marcus, Saks Fifth Avenue became Bal Harbour's second anchor store in 1976.

Tranquil Green Oasis With Shopping Near The Ocean

Recognized as the forerunner of luxury shopping mall developers, with many "firsts" in the industry, Stanley Whitman was considered something of a maverick. He was the first developer in the country to charge for parking; to restrict illuminated signage on store fronts and to create a "green oasis" of tranquility within the shops walkways. Traditional centers planned for horizontal expansion, while Bal Harbour was planned for vertical growth with the addition of the second level of stores in 1982.