Carol Clawson

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.

Palm Beach Gardens estate communities are showing few sales in the past two years with homes staying on the market for months and in some cases, more than a year.

Long sought after communities such as Steeplechase and San Michele, boasting large executive homes priced upward of $1 million, have each had just one sale this year. The Steeplechase sale was a foreclosure and the San Michele sale was well below market value.

In Steeplechase there is one additional home under contract that is a short sale.

In San Michele, there are two additional homes under contract, one short sale and one conventional sale.

Steeplechase is the premiere estate community in Palm Beach Gardens with 324 custom homes each sitting on an acre or more. This provides ample room for backyard pools, tennis courts, landscaped lawns and gardens.

Located in the southern portion of the Gardens off of Northlake Boulevard, Steeplechase is convenient to shopping, restaurants and major roadways. Today there are 16 homes on the market in Steeplechase ranging in price from $624,000 to nearly $3 million.

San Michele is located in the northern part of the Gardens at Hood Road and Central Avenue and is a small enclave of just 90 homes. All are large executive homes, but they are sitting on less than half acre lots. The homes were built by a single developer between 2003 and 2005 yet each has a unique look.

Today there are 12 homes for sale in San Michele ranging in price from $850,000 up to $2,295,000.

The Weiss-Clawson Team has knowledge of most communities in Palm Beach Gardens, including estate communities, country club communities, not gated communities, condos and townhomes. We research sales throughout the area and provide the most up to date information to our clients.

If you are interested in buying or selling a home in Palm Beach Gardens or anywhere 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.

Palm Beach Gardens' country club communities saw strong sales this summer, in some cases, almost matching sales figures from the winter season.

With the number of single family home sales up throughout Palm Beach County, it is clear that savvy buyers are making deals before the 2010 winter season begins. Prices in Palm Beach County appear to have bottomed last winter, yet there are still many good buys on the market throughout Palm Beach Gardens' area country club communities.

In Ibis Country Club, for example, 25 homes sold from June 1 through August 31 nearly matching the 27 homes sold in Ibis from January 1 through May 31. Of the 25 homes sold this summer, 17 were under $500,000. During the first five months of 2009 15 of the 27 homes sold in Ibis were priced under $500,000.

Today in Ibis Country Club there are 174 homes on the market, with 96 of these priced at or below $500,000. There are some wonderful buying opportunities in Ibis today!

In Mirasol 25 homes sold in the first five months of 2009 and 13 homes sold in the last three months. Prices in Mirasol, as in most communities, have dropped with more than half the homes sold going for $750,000 or less.

Today in Mirasol there are 110 homes on the market with just 35 of them priced at or under $750,000.

Frenchmans Reserve saw nine homes sold from January 1 through May 31 with just two homes priced under $1 million. Yet there were seven homes sold during the summer season with three priced under $1 million including a coach home that sold at $350,000.

Frenchmans has 48 homes on the market today with seven priced under $1 million.

This fall is an extraordinary time to purchase a home in one of Palm Beach Gardens' beautiful country club communities before the winter season begins.

The Weiss-Clawson Team researches sales in all communities throughout Palm Beach Gardens and provide the most up to date information to our clients. If you are interested in buying or selling a home in any communities throughout Palm Beach Gardens, West Palm Beach, Jupiter, Juno Beach or North Palm Beach, we are interested in working with you. You can contact us directly. We look forward to hearing from you.