Newsletter: December 2007

One World Realty, Inc. was recently honored with a cover story by Broker Agent Magazine. Read the entire article by following his link to the PDF. This file is 8 MB and may take a while to download on slow connections.

Happy Holidays

To our wonderful readers, customers and friends worldwide, our best wishes for a happy Holiday Season. We look forward to bringing you yet another year of advice, counsel and the best in real estate news. May 2008 bring you health, wealth and happiness.

Reflecting on this past year over the Thanksgiving holiday we at One World Realty have a lot to be thankful for because of you our loyal customers and friends. Although this year in real estate has not been a banner one, the good news is that our company has maintained a profitable business year and all of our Associates are healthy.

Just a few of the things that we are thankful for are; We are Thankful for Mother Nature being so kind to us for the second year without a hurricane and picture perfect weather. We are Thankful for the decreases in our property insurance rates. We are Thankful for mortgage rates that are at a 2 year low. We are Thankful for professional accomplishments of our Associates especially Patricia Carrico, named New Realtor of the Year by the Florida Association of Realtors and the Realtors of the Palm Beaches and Nancy Lubeck becoming a Appraiser. We are Thankful for the one year anniversary of our friend and webmaster being confirmed cancer free. We are Thankful for the birth of Daniel John Lubeck to Chip and Sally Lubeck our Partner, setting the stage for a 4th generation of Realtors. We are Thankful that many of our Associates belong to the 55,000 members of the Real Estate Buyers Agent Council at a critical time for superior understanding of the real estate marketplace. We are Thankful that we will have the opportunity to vote on lower property taxes this January.  We are especially Thankful to live and work in Paradise in a market that is affluent, upscale and resilient. Lastly, we are Thankful for all of you who have supported us with your trust and business.
 

Max Planck coming to Jupiter

The deal is done, the state has signed off on $94 million for the much-anticipated Max Planck Institute at the Jupiter campus of Florida Atlantic University.
Gov. Charlie Crist and Senate President Ken Pruitt on December 18, 2007 gave the Max Planck Society its blessing and the financial incentive to open the bio-imaging center near the Scripps Research Institute in Jupiter. In addition to the state's contribution, Palm Beach County has committed $93 million to the project, which Crist's office said will bring 1,824 jobs to the region over 20 years, adding up to $2.4 billion in wages and boost the state economy by $5.3 billion over the same period.

Ocean Mall Singer Island

Catalfumo Construction received the go ahead to contract 60,000 square feet of shops and restaurants and a five story hotel on the old Ocean Mall site.
Word on the street is that the developer will start construction as early as March 2008. This is a huge boost to the overall integrity of the real estate market on Singer Island. The Ocean Mall site has been the subject of a five year battle between developers and the City of Riviera Beach, which owns the land under the mall. All approvals must be given by the city and topics of discussion have been height, coverage, design, parking and the assurance that the public will not loose any access to the beach. The council voted 4-1 for the project which shows the community that negotiations are over and the city is ready to begin its flagship community redevelopment project. This is the most important project currently in the works as it revolves around public access and public use. Every resident of Singer Island will use the mall and hopefully additional developments in the surrounding parcels will begin shortly thereafter.

This is an interesting article that is worth passing on...

Sensational, Yes; Accurate, No By Lawrence Yun

“How much have real estate investors lost due to the housing market bust?”

That was the question posed to me by a major evening news producer, who wanted to depict the pains in the housing market during a nationally broadcast show.

Hmm. An investor who bought a property in Las Vegas five years ago would be ahead by $150,000 today. The gain would be $200,000 in Miami, and $54,000 on average in the United States as a whole.  Only people who bought in a few markets that experienced extreme overheating during the boom and who are trying to sell quickly face a potential loss. And that loss on average would be 1 percent to 2 percent.  Lenders and hedge funds with large exposure to subprime loans have lost big. Investors in homebuilder stocks also have lost. But real estate investors who plan to hold for a reasonable period of time are doing fine. To be sure, buyers who entered the market during the height of the boom might see a modest retreat in appreciation as a loss. That’s the nature of the human mind. A gain of $190,000 in Miami will feel like a loss if two years ago their property could have fetched a gain of $200,000.  Yes, there is pain out there. Foreclosures are rising and construction workers are getting laid off. Income of the typical real estate professional has been falling as transaction volume slows. But consumers who are in housing for the long term are poised to come out well ahead. That $10,000 they invested as a down payment on their typically priced home for the typical 5 percent annual appreciation will net them $110,000 over 10 years. That’s what the power of leveraging means to them.

That same $10,000 invested in stocks appreciating 10 percent annually will return $23,600. No wonder the Federal Reserve Board consistently finds a staggering difference in average net worth between home owners and renters: $184,400 vs. $4,000.

As it has always been, housing is our bedrock investment. It will continue to generate a nest egg for us long after we’ve turned off the television and forgotten what was said in the sensation-seeking story of the moment. Yun is chief economist and senior vice president of research for the NATIONAL ASSOCIATION OF REALTORS®.

Residents of The Acreage want to become Palm Beach County's 39th city.

Barely a year after Loxahatchee Groves became the county's 38th city, a determined core of residents has rekindled the effort to incorporate The Acreage. The Acreage's destiny and protect the area's rural character from encroaching growth is the residents reason.

"We want our own autonomy,” according to the president of The Acreage Landowner's Association. "We want to have the right to make our own decisions as far as roads are concerned and as far as a lot of the infrastructure, and have a little more say-so when issues come up that impact other communities that are around us." The municipality's boundaries would include some 50,000 people in the area now. The people behind the Loxahatchee drive which incorporated know it won't be easy. Their effort took three years and struggled through two Tallahassee sessions. Then it went to the residents, it won by just 88 votes.

Last minute seasonal rentals:

Bella Vista - Jupiter, FL (walking distance to Ocean & Carlin Park) Only $2,800 per month during the season Fully Furnished: 2 Bedroom 2 Bath, Cathy Breese 561-714-0287

Mayan Towers South - Palm Beach Shores on Singer Island, FL - Located on the Beach, Gorgeous View of Ocean 2/2 only $3,000 per month, Cathy Breese 561-714-0287
 
Mayan Towers South - Palm Beach Shores on Singer Island, FL - Located on the Beach, Spacious 3bedrooms 3 Baths with Awesome View of Ocean $3,800 per month, Cathy Breese 561-714-0287

Ocean Dunes - Jupiter - Located across from the beach, 3 bedroom 2.5 baths with all the community amenities $2500 per month. Contact Don Urschalitz 561-685-0976

Lighthouse Cove - Tequesta - Three bedroom fully furnished in this resort community $3000 per month. Contact Don Urschalitz 561-685-0976

Abacoa - Jupiter - Walk to the ball park from this 2 bedroom condo and enjoy Spring Training $3000 per month Contact Don Urschalitz 561-685-0976

Tequesta Oaks - Tequesta - Three bedroom and Two and One-Half bath town home has been meticulously maintained and is available on an Unfurnished Annual basis for $1,500 per month. Contact Dave Monsour 561-339-5980.