WHO WAS IT THAT SAID: “ALL GOOD THINGS MUST COME TO AN END?”

Some of those who could have, did recently enjoyed record-low mortgage rates, but predictions are that average rates on a 30-year fixed rate mortgage will jump to 5% by the end of 2011 according to the Mortgage Bankers Association.  Well, that’s not so bad either… but averaging 4.4% in the 4^th quarter of 2010 is certainly a “boon”!  Of course, we have to watch the “Fed” for any new issues.

Expectations are for a total mortgage volume in 2011 of nearly $1-trillion.  Predictions are price declines of 1% in troubled housing markets including Florida and parts of California.  The pent-up demand may just burst open this year and in 2011.  NOW is the best time ever to purchase a property in Florida… prices and interest rates are low!

NEW FAMILY RESORT COMPLEX TO BE COMPLETED BY NOVEMBER 2011 AS POLO CLUB RECEIVES 2010 BEST OF BOCA RATON AWARD BY US COMMERCE ASSOCIATION

The USCA “Best of Local Business” Award Program recognizes outstanding local businesses that have achieved exceptional marketing success and enhanced the positive image of small business through service to their customers and community.  The award focuses on quality, not quantity.

The forthcoming 1-acre Family Resort Complex will  be centered around an 8000 sq ft resort-style pool with cascading water features, poolside cabanas, and an elevated cupola.

The following amenities will be included:

• Activity Center for all ages with participative games, billiard tables and video games
• New Children’s Activity Center with playground, water features and a wading pool
• New open-air casual café and bar overlooking the new pool complex serving lunches and dinners and providing outdoor entertainment

View the VIDEO and see the powerpoint slide show for more details.

SOMETHING YOU MAY WANT TO KNOW ABOUT… THE STORM AFTER THE CALM

According to Bain & Co, luxury goods including designer clothes, leather goods, watches, jewelry and such were predicted to have a 10% increase in sales in 2010, reported in a study commissioned by Italy’s Fondazione Altagamma association of high-end producers.  Sales had declined by 8% in 2009. 

So far US sales of high-end items are up 12% with wardrobe replenishment after a year of careful holding back, Asians up 22% and Europeans spending 6% more for luxury items.  With the holiday season still ahead, Bain predicts a 9-11% growth during that period, so it’s time to open your wallets folks, and keep the stores in business.

Powering the spending are the Chinese with sales growing 30%. Chinese tourists are traveling the world en masse and spending as they go.  The study reports that larger brands are faring better than smaller ones, which may foretell the possibilities of mergers or absorptions of small companies, and menswear is growing faster than women’s wear… amazing?  Our men are browsing the internet for their favorite brands and buying online.

Leather goods purchases had held up and are expected to grow by 16%.

May as well get in on the buying binge now as, due to the likely continuing lowering of the dollar against the euro, growth is predicted to head down 3-5% in 2011.

A TURN FOR THE BETTER...

National Association of Home Builders’ director of economic services says, “For the first time since World War II, I think [foreign] people are more optimistic about the US housing market than Americans.”  

Wall St Journal reports that the successful Sekisui House Ltd, a very large home builder and developer in Japan, is seeking to enter the US housing market and has teamed up with Newland Real Estate Group LLC of San Diego to acquire nearly 500 acres outside Houston which could house more than 1 200 homes.  Local brokers said the price was most likely over $10MM.  

It is anticipated that it will take three years to plot the development and get the project through the approvals process.  

Foreigners are not afraid of the US market as evidenced by the fact that 262 of the a Miami luxury condo’s 372 units have sold and almost 90% of the buyers are foreigners, all paying cash.  It includes a 28,000 sq ft spa and infinity pool on Biscayne Bay.  Units that once sold for up to $670/sq ft now average $319. Hotel-like service is offered, condos are glamorously appointed, great water views abound, daily housekeeping included and a celebrity chef offers room service.  It appears that foreign investors are buying real estate rather than investing in the US stock market, planning to rent out properties and sell when the economy turns around.  It is reported that 80% of all current Miami condo sales are with foreigners.  A property management cottage industry has sprung up across the US to accommodate these foreign buyers.

 

Locally, The Related Group has held many seminars, e.g. at Robb & Stucky in Boca and at the Boca Marriott, in the past few weeks showcasing their Ft Myers condo complex they purchased at a distress sale and are now offering at very low prices.  Seminars are also being held for condo complexes in foreign cities, and it is reported that buyers are astonished at the values, wondering if they are too good to be true.  They ARE true.

If you would like more information on any of these complexes or similar properties, contact Marilyn Jacobs, Luxury Home Specialist at 561-302-3388.

ZILLOW INDICATES WE HIT BOTTOM AND PRICES ARE SLOWLY RISING...

ROBB & STUCKY’S STAGING TO SELL 

CAN ALSO GIVE YOU RE-DO IDEAS 

IF YOU ARE NOT SELLING!

Seminar to be held on 10/28/2010 at 2 pm at Robb & Stucky in Mizner Park, Boca Raton, upstairs in the Community Room.   

Get tips on how to “prep” your home for a faster sale to make it stand out from others on the market.  Or, if you are not selling, how about ideas to spruce up your home like the experts would do!   

Before or after the seminar take a look through their fabulous furniture and accessory items… just one new beautiful piece can update and enhance the look of your home.

GET OUT THE MEGAPHONES… A FOOTBALL STADIUM 

IS COMING TO BOCA

The Florida Board of Governors unanimously approved a resolution authorizing FAU to finance part of the construction of a 30,000-seat stadium and associated improvements.  In July the FAU Board of Trustees had unanimously approved the project and its financing plan.

FAU’s Innovation Village is located in the north central campus area where the stadium will be built.  This is a gathering place for alumni, students, faculty, staff and community members to live, learn, dine, shop, enjoy and build tradition.  A student housing facility is under construction and scheduled to open in the fall of 2011.  A retail area is being planned.

The $70MM project will be home to the two-time bowl winning OWL football team.  20 luxury suites will be featured with 1,000 club seats and, of course, the latest state-of-the-art amenities.  Completion is scheduled for fall 2001, with construction expected to start in October 2010. 

All together now, let’s give a cheer for the new excitement that is coming to town!

LOOKING FOR A CLASSY, 

REGAL RENTAL?

 Head over to Port of Leith, Edinburgh and climb aboard the Royal Yacht Britannia, launched in 1953.  Walk the red carpet and be greeted by a Pipe Major. 

 This grand ship has played home to The Queen and Royal Family for a half century and entertained kings, queens, presidents and prime ministers worldwide.  It is decked out with comfortable casual furniture and the walls hold aged family portraits.  The Yacht is said to be Scotland’s most popular attraction.

The State Dining room holds gifts to Her Majesty from 968 official worldwide state visits.  Four honeymoons took place on the yacht including Princess Diana and Prince Charles honeymoon, but if your heart is set on having your wedding there: sorry, no weddings allowed.  Suitable for a corporate event, the casual setting is regal and can include a harpist or pianist, fireworks, dancing to jazz or a traditional celtic band.  Up to 176 guests can be feted for dinner or up to 380 for champagne receptions. 

 Staff is white-gloved and served in fine china with silver engraved with Britannia’s crest.  Public tours are available during the day and imagine yourself sipping afternoon tea, sitting on a Britannia deck chair, overlooking the Firth of Forth.  Cover the Royal Deck with an awning, plan an awesome dinner and invite the 80 people you want to impress the most.   

Cheerio!

IN YOUR WILDEST DREAMS….

While Only “a dream” at the moment, just like the Flash Gordon comics of years ago that put a man on the moon… which happened during our lifetime… the design has been made for a yacht that can fly.  It has been exhibited at the Paris’ Air & Space Museum.

Just click the button and your “superyacht with wings” takes you where ever you want to go.

The masts can be operated independently and sails are stored within them.  The masts become wings when flying is preferred.  46 meters, with 4 mobile masts reaching 40’, the designer said he did not mean to make it feasible, but rather an innovative concept. 

Any bets on how soon this will become reality?

IF SOMEONE YOU KNOW DOES NOT HAVE HEALTH INSURANCE…

CVS/pharmacy and MinuteClinic, one of their divisions, will be offering free flu shots to those without health insurance this upcoming flue season.  Vouchers will be issued to clinics and health centers across the country that are redeemable for free flu shots.  The clinics and health centers will identify uninsured individuals from their existing patient populations starting September 20^th.

CVS Caremark the largest US pharmacy health care provider, will be partnering with Direct Relief USA for this program.  Direct Relief is a non-profit organization working with 1100 clinics and health centers in all 50 states.  They provide free medications and supplies for low-income and uninsured patients, with most facilities affiliated with either the National Association of Community Health Centers or the National Association of Free Clinics. 

Names and locations of the voucher providers will be available September 20^th by using the MyFlu Shot Scheduler at www.cvs.com/flu or calling 888-FLU-SHOT.  Vaccinations will be available 7 days a week during regular business hours with no appointment required.  Participants will receive, after getting the shot, a discount on pharmacy products.  You can check that out at the site just mentioned.  If you know anyone who wants even minimal health care coverage, call Licensed Independent Insurance Agent Marilyn Jacobs at 561-302-3388 to get details for an affordable health plan.

DID YOU KNOW...

Local Trends / Perspectives

• 70 % of Boca Raton's Residential Resort Clubs have a mandatory service charge
• 60 % of these Clubs have a food and beverage minimum
• 40 % of these Clubs have both a food & beverage minimum and a mandatory service charge
• The average monthly mandatory service charge at these Clubs is $127
• The entry fee refundable portion at these Clubs has decreased 14% in the last 3 years
• Joining fees at these Clubs have increased 21 % in the last 2 years
• These Clubs increased their menu prices an average of 53% over the last 2 years
• Members at these Clubs want more "resort like amenities", such as spa/fitness, family activities and casual dining
• The Polo Club does not have any food and beverage minimum or any mandatory service charge
• The Polo Club is a no tipping Club, tipping is prohibited in all dining rooms, valet parking and at the golf bag drop, 365 days of the year
• The Polo Club is committed to offering the very best in amenities and lifestyle at affordable costs to our Members
• Enjoy "The Good Life" at The Polo Club of Boca Raton!

ILHM PRESIDENT WACO MOORE SHOWS THAT 

“LESS IS MORE”

The September 2010 issue of Better Homes and Gardens features the home of Institute for Luxury Home Marketing President, Waco Moore, built in 1957 and then named as Better Homes and Gardens “Idea House of the Year.”  Waco and his wife Mila Goldman-Moore, who is an architect and served as general contractor after they purchased the house, have kept true to the modern aesthetic, but have incorporated “green features” such as shredded denim insulation and tank-less hot water heaters.  Mila says her favorite element in their bedroom is the easy access to the outdoors and future plans may include a porch with a sleeping alcove in that area.

Before moving in, they stripped the interior down to the studs, maintained the basic floor plan, and removed crown moldings to keep a simplified look.  They also replaced Victorian-style decorative doorknobs. Planning ahead, the inexpensive kitchen cabinets are freestanding, and if they redo the kitchen, they will merely be moved into the garage.  Open storage shelves help to declutter.

Still “The Idea House of the Year,” the Moore’s are in trend with today’s modern times with a non-wasted space floor plan, connections between living areas that are “family-friendly,” natural light streaming in, and a nice indoor-outdoor flow making the house seem larger than its 2100 sq ft.  Towering canopy oaks shade the house and offer breezes and sunlight where it is needed. 

DELRAY INTERNATIONAL TENNIS CHAMPIONSHIP WINS PROVIDENCIA AWARD

DELRAY INTERNATIONAL TENNIS CHAMPIONSHIP WINS PROVIDENCIA AWARD

The annual Providencia Award is the County’s most important symbol of recognition for the local tourism industry, celebrating local businesses, organizations and/or individuals making extraordinary contributions to the vitality and prosperity of the county as a desirable tourist destination.  This year’s award has been won by the Delray Beach International Tennis Championships.  Delray Beach was selected as one of the top10 ”Best Tennis Towns in America” by the United States Tennis Association (USTA) because of the annual International Tennis Championships.  This event brings almost 60,000 attendees, 25% from outside of Florida.

The local tourism industry employs tens of thousands of country residents, adding over $2.6BB annually to the local economy.  The Delray Beach ITC joins previous local winners of note, including The Colony Hotel in Palm Beach, The Morikami Museum and Japanese Gardens, The Breakers Hotel, Kravis Center, Burt Reynolds, Ritz-Carlton, Norton Museum of Art, Boca Raton Resort and Club, Moroso Motor Sports, SunFest, Jack Nicklaus, Marathon of the Palm Beaches, Delta Airlines, Alexander W. Dreyfoos, Jr. and the Palm Beach Kennel Club.

The Delray Beach Stadium and Tennis Center features the ATP Champions Tour and an ATP World Tour, both scheduled for February 18-27, 2011.  The best tennis players in the world participate and draw thousands of visitors to the area.

If you or someone you know would like to own a townhouse across the street from the stadium see sidebar for Atlantic Grove property and call Marilyn Jacobs at 561-302-3388 for a showing. Leasing and pets ok.