REALTORS ASSOCIATION 

OF THE PALM BEACHES 

POINTS OUT THAT THE MEDIAN 

SALE PRICE OF SINGLE FAMIILY 

HOMES IS UP TO $197,000 

FROM $190,000 THE PREVIOUS YEAR

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The median townhouse-condo price in Palm Beach County is $82,500, up from $75,000 a year ago.  Less than 1 in 5 closings were for residential home sales in financial distress.  Distressed inventories are at 2007 levels.

Short sale process by Bank of America has been "accelerated."  These indications bode well for the housing market.

Total March pending single-family home sales in the county are up 70% from a year ago for homes and 41.1% for townhouses and condos.  Single family homes inventory has decreased 38% from the previous year and 40.8% from a year earlier.

The inventory decrease and increase in number of buyers has created a more competitive market place and that has positively impacted property values.

HEADING UP SOON THEY TELL US...

"For people who have been waiting to time their home purchase close to market bottom, it's time to start shopping," said Stan Humphries, Zillow's chief economist.  Bidding wars have returned as buyers compete for a shrinking supply of homes.  Inventories of single-family homes in Palm Beach and Broward counties have fallen in the past year by 38% and 48%, respectively, local Realtor boards say.  (From loansafe.org.)


The Sun-Sentinel interviewed a dozen builders, buyers, analysts, real estate agents and other local housing observers and they agreed that the region has reached a housing floor, despite concern that another wave of bank-owned homes will hit the market.


With prices back to levels last seen in 2002, demand is strong again, particularly from foreign investors and others willing to pay cash.

BROKEN SOUND CAR SHOW RAISES $18,000+ FOR PAP CORP CONATION FOR CANCER RESEARCH

Broken Sound Club’s First Annual Classic, Collector and Exotic Car Show raised more than $18,000 which was presented on May 1 to the Boca Friends of the Pap Corps, Champions for Cancer Research.

The car show brought car participants from all over South Florida to show off their antique and classic cars. Spectators voted for the best car and club in show, won raffle prizes and enjoyed a barbecue. 

The club has plans to hold an even bigger event next year, and open the show to neighboring clubs.

Broken Sound Club’s Chapter of the Pap Corps joyfully accepted the $18,429.00 check. All proceeds will go to the Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine.