Carol Clawson

Homes in Palm Beach Gardens' high end country club communities are selling in 2009 after a dismal year in 2008, according to Multiple Listing Service (MLS) statistics.

Two exclusive clubs, Old Marsh and Old Palm saw just two sales during the first 10 months of 2008. Both of those sales were in Old Marsh. There were no sales in Old Palm reported through MLS for the first 10 months of 2008.

In Old Marsh the two homes sold through October 2008 averaged $458 per square foot. Both homes had more than 4000 square feet. In 2009 there have been seven homes sold during the first 10 months of the year. Prices are down 15 percent in 2009 compared with 2008 with the seven homes sold averaging $385 per square foot.

Old Marsh is one of Palm Beach Gardens' finest country club communities with fewer than 200 homes surrounding a beautiful golf course. There are currently 11 homes on the market in Old Marsh, ranging in price from $1,350,000 to $2,995,000.

Old Palm is a newer community than Old Marsh. For the first 10 months of 2008 there were no homes reported sold through MLS. During the first 10 months of 2009 however, there were eight homes sold in Old Palm. The average price per square foot of those homes is $363.

Today there are 34 homes on the market in Old Palm ranging in price from $1 million up to $7.9 million.

The Weiss-Clawson Team is familiar with both Old Marsh and Old Palm and can provide interested buyers with additional information about either community, or about any other country club community in the Palm Beach Gardens area. You can contact The Weiss-Clawson Team directly.

We look forward to hearing from you and to working with you.

Most country club communities in and around Palm Beach Gardens are experiencing sluggish sales and declining prices according to statistics from the Regional Multiple Listing Service.

Mirasol, Ibis Country Club and Ballenisles have all seen fewer sales during the first eight months of 2009 than occurred during the first eight months of 2008. And prices in each community have declined as much as 30 percent.

In Ballenisles, for example, the number of sale dropped 12 percent comparing January through August 2009 with the same period of 2008. And the numbers are not large. Only 34 homes sold in Ballenisles during the first eight months of 2008 and just 30 homes sold in the upscale community during the same period of 2009.

In 2008 just nine of the 34 homes sold went for $500,000 or below while in 2009, fully half of the 30 homes that closed were bought for $500,000 or less.

Prices in Ballenisles declined about 20 percent in 2009 compared with 2008. Looking at dollars per square foot in Ballenisles, the homes sold between January and August 2008 averaged $240/SF while a year later, homes sold from January through August 2009 averaged $191/SF. And in 2009 just five of the 30 homes sold went for more than $1 million, while a year earlier 11 of the 34 homes sold closed at or above $1 million.

Today there are about 100 homes on the market in Ballenisles, 35 of them priced at or under $500,000. There are some very good deals available to the savvy buyer.

The Weiss-Clawson Team researches home prices in communities throughout Palm Beach Gardens and Palm Beach County to provide the most up to date information to our clients. If you are interested in buying or selling a home in Palm Beach County, we would like to work with you. You can contact The Weiss-Clawson Team directly. We look forward to hearing from you and to working with you.

The number of homes sold in many Palm Beach Gardens country club communities are fewer in the first eight months of 2008 than they were for the same period in 2009 and prices in many of the communities continue to decline, according to statistics from the Regional Multiple Listing Service

It makes it a great opportunity for buyers to find that perfect new home at a price that is often less than the seller paid.

In Mirasol, for example homes sales are down 30 percent for the period January 1, 2009 through August 31, 2009 compared to the first eight months of 2008. In 2008 53 homes sold through August while in 2009 just 37 closed during the same period.

Averaging the closing price of each Mirasol home sold in the first eight months of 2008 shows a value of $261 per square foot. That number declined 12 percent in 2009 with an average of $232 per square foot for the 37 homes closed through August.

Today there are 117 homes for sale in Mirasol with 41 of them priced at or below $750,000 and 16 homes price at or below $600,000.

While sales figures throughout the Palm Beach Gardens area show hightened activity overall, most of the homes sold were priced at or below $350,000 with many taking advantage of the first time homebuyers $8000 tax credit.

The Weiss-Clawson Team keeps up to date on real estate market trends and prices throughout Palm Beach Gardens and Palm Beach County to provide the most up to date information to our clients.

If you are interested in homes in Mirasol or in any Palm Beach Gardens community, please contact The Weiss Clawson Team directly. We look forward to hearing from you and to working with you.

The Palm Beach Gardens housing market appears to have hit a soft bottom during the past few months with some communities faring better than others.

The median price of a single family home in Palm Beach County hovered between $228,000 and $234,000 during the first five months of the year. In June that price jumped to $250,000 and then receded slightly to $245,000 in July. The August sales figures should be available before the end of September giving us a better idea of the overall trend line.

Lower priced properties are seeing the most action as we emerge from the worst housing downturn in decades. In Palm Beach Gardens about 725 homes sold from January through August 2009 with 55 percent closing at or below $300,000.

We believe that first time homebuyers, taking advantage of a maximum $8000 federal tax credit, are responsible for the surge in lower price properties. But that program May expire at the end of November. With many of the quality lower priced properties now sold we can expect to see more moderate priced homes selling.

Some communities are faring better than others.

Property values in Ironhorse Country Club have remained somewhat steady between 2008 and 2009 as other communities have seen values decline. And the number of sales in Ironhorse are up about one-third. With five Ironhorse homes selling between January and August, 2008, the average dollars per square foot was $163. In 2009 with eight homes selling during the first eight months, the average dollars per square foot was $161. There are more than 30 homes on the market in Ironhorse today.

At Ibis Country Club, there is a 25 percent decline in the number of sales during the first eight months of 2009 compared with the same period of 2008. In 2009, 48 homes sold, while in 2008 63 sold from January through August. And prices in Ibis have decline 12%-13% from 2008 to 2009. Ibis homes priced at $500,000 or less averaged $156 a square foot in 2008 and $137 a square foot in 2009. Homes priced above $500,000 averaged $231 per square foot in 2008 and $202 a square foot in 2009. Today there are more than 170 homes in Ibis available for purchase.

Sales in higher end communities remain slow.

In Steeplechase, Palm Beach Gardens premiere estate community, just one home sold through August 2009. It was a foreclosure and sold at $153 per square foot, not at all reflective of property values in Steeplechase. More than 15 homes are for sale in Steeplechase today.

In San Michele just one home sold between January and August, 2009 and that closed at $198 per square foot, a 14 percent decline from 2008. There are about 20 homes for sale in San Michele.

The Weiss-Clawson Team provides market research to our clients, friends and neighbors on communities throughout Palm Beach Gardens and Palm Beach County so that they can make the best decisions about their real estate interests. If you are considering buying or selling a home, please contact The Weiss-Clawson Team directly. We would like to work with you.

Prices of luxury homes in Palm Beach Gardens executive community of San Michele dropped about 14 percent in the first eight months of 2009 compared with the same period in 2008.

And sales are sluggish in the community with just one home sold through August in 2009 compared with four homes sold through August in 2008.

The single home that sold in San Michele during 2009 was priced at $198 per square foot, while the four homes that sold in the community during 2008 averaged $231 per square foot. And while it is difficult to compare sales between the two years since only one home sold in 2009, the numbers do reflect the market value of homes in the community.

While only one home sold in San Michele this year, there are two more under contract, one of which is a short sale. There is no indication of when the homes under contract will close.

There are currently 11 active listings in San Michele, priced from $850,000 up to $2,295,000.

San Michele is an upscale executive community in the northern part of Palm Beach County just south of Abacoa. It is convenient to major roadways, shopping and restaurants.

If you are interested in buying or selling a home in San Michele or in any community within Palm Beach Gardens, West Palm Beach, Jupiter, Juno Beach or North Palm Beach, please contact The Weiss-Clawson Team directly. We conduct research on sales and real estate market trends throughout Palm Beach County and share our insights with our clients.

We look forward to hearing from you and to working with you.