Millennials have now outpaced the Baby Boomers and are the largest home-buying demographic in the United States. This generation has been at the forefront of some of the most challenging economic circumstances and changing times. From bearing the brunt of the student loan crisis, and rightfully dismayed at the lack of education regarding these high-interest calamities, to experiencing the final years of the analog world, millennials have become quirky, unique home buyers who look for things that prior and likely future generations may not have emphasized. This is as true among Boca Raton home buyers as it is nationwide. After reading many articles, speaking with young people (including the author), and reviewing some of the favorites of recent millennial clients, we've compiled a list that represents the demographic's wants and needs - from floor to ceiling, and everything in between.
Hardwood always speaks to elegance. However, hardwood in South Florida is not the most apt of flooring solutions. Modern textured tiling has come to the rescue, providing easily installed, beautiful wood grain designs that function at the highest level while still providing that attractive signature look. Shades of grey, mahogany, beige, ebony, and many other solutions color and texture your home, bringing an...
2023 thus far has been reflective of the efforts to revert our economy to a more level basis. With the surge in prices and the massive reduction in inventory, the nation's builders are working diligently to provide home buyers with what they're looking for while developing new land into available housing. As a result, the ongoing major construction projects nationwide will better reflect the latest trends in real estate, rather than sporadic construction in smaller pockets. We've studied these trends, especially those most seen in Boca Raton Real Estate, and reviewed some of the most prominent to grace our area have been.
Low (But Growing) Inventory
In recent years, the inventory has bottomed out in some areas, especially South Florida. Low supply and high demand have driven up costs, but area developers are hard at work providing additional units in the form of new single-family developments and condominiums alike. While the housing shortage is more acute in South Florida, the escalation of mortgage rates along with the expected delivery of several marquee new developments will ensure the next 3-5 years expect a gradual easing of the skyrocketed prices we saw during the apex of COVID.
If there is one theme to our sociopolitical landscape in the last 2 years, it's been inflation. It has affected everything from the price of bread to the success of our Realtors. The federal reserve have acted in suit in response to aggressively surging costs on everything from chicken cutlets to gasoline, cardboard to housing. These increased rates have led to the expected slowdown in the housing market, with some sellers believing it's still 2021, and some buyers far more fearful than they should ever be. As expert Boca Raton Realtors, it's our job to assuage unrealistic concerns while explaining the realities of the market. The answer lies somewhere in the middle. Despite the deliberate market fluctuation leading to circumstances unforeseen in decades, this is no 2008, and the value of Boca Raton Real Estate never indeed loses its worth. We all need a roof over our heads, and owning a home in one of the most desirable locations in the world is a surefire way to guard yourself with 4 walls of inflation-busting investment power. Learn more about how owning a Boca Raton home can secure your place in the ranks of the financially free.
Predictable Housing Payments
From March 2020 to March 2023, ...
As Realtors, we always love playing the "what if" scenarios in our minds. We believe a good Realtor sees a home for both its potential through imagination and the practical economics behind it. A Realtor should be as good at envisioning your desires and taking them from paper to reality, as they are in executing an efficient and ethical transaction. One enjoyable thought exercise is to see what an imaginary budget would afford in a selection of different cities and states. With home prices rising in South Florida, and our relative insulation from the very worst of the post-lockdown economic fallout, $1 million might not go as far as you think. Without further ado, here is a selection of metro areas, and a sample of what 1 million dollars can buy in each region.
Please Note: Real Estate is a dynamic and always-changing industry. Numbers, values, and percentages will not always hold and trends may heavily impact the veracity and currentness of this information over time.
Boca Raton, FL
We begin with the idyllic Boca Raton, Florida. Part tropical paradise, part glamor destination. Imagine the glamor of LA and New York without the numerous disadvantages by way of taxes, traffic, and public safety. Boca Raton is the nexus of Champagne & Parisi's legacy and a city we are proud to call home.
What can you afford with a $1 Million Budget In the Boca Raton Real Estate Market?
- A 3-4 bedroom single-family home in a West Boca Raton gated community.
- A smaller-sized luxury condo in the downtown...
Despite the gorgeous veneer and seemingly polished-off finished product that is Boca Raton, there's always something new happening in our beautiful city. Even amidst a crowded waterfront, several new luxury buildings and several old are seeing sprawling new construction. From all new condominiums to added amenities, we give you the latest news on Boca Raton New Construction Real Estate. Read along to learn more, and be sure to stay tuned for more updates and news items like these.
3000 South Ocean Blvd.
3000 South Ocean Blvd is the southeasternmost address along the waterfront in Boca Raton. This work is in accordance with the Coastal Construction Control Line (CCCL) to replace an existing seawall in the location. The CCCL Program regulates all things related to projects that could impact the beach - namely erosion, dune stability, public access interference, or the damaging of inland properties. In addition, the pool and deck will be replaced seaward of the CCCL.
171 W. Camino Real (Camino Square)
Camino Square is a shopping center with an adjacent parking garage just west of Dixie Highway on Camino Real. The project in question aims to increase the square footage of the property while simultaneously decreasing the square footage of the nearby parking structure.
The Real Estate profession has long been erroneously maligned as a pure "dog-eat-dog" world with everyone out for themselves. While Realty does afford a greater opportunity than most professions for one to indulge in their... Machiavellian tendencies, it is the way infrastructure of the profession that opens the door for such behavior, rather than a black hole attracting bad actors and unethical professionals. We write this because we are entering an era of unprecedented cooperation, even amongst bitter rivals in premier Real Estate markets. With the abundance of data, the speed of information, and the prominence of social media, it's easy to see why so many otherwise independent Realtors have now found new ways to expand their practice and involve new methods, ideas, and key players for the benefit of all. Yet, even with this newfangled positivity, there are significant challenges our team faces that are as relevant today as ever. Without further ado, here are 5 challenges facing Realtors today!
Realtors are expected to communicate, advocate, and fight for the best deal on behalf of their clients. It's what you do outside of these basic expectations that set you apart. It could be your origin, place of...
Sanborn Square is one of several key shopping and office areas within the broader landscape of Downtown Boca Raton. Residing just beyond Palmetto Park Road's northeast corner, the open space is one of the last untapped areas in the Mizner Park district, and a hotbed of spirited debate ahead of yet another multibuilding complex proposed in its stead. Compson Associates, the firm responsible for the 12 story Tower 155, has received stiff opposition despite the nascent stages of the discussions with the city council.
The Proposed Project in Detail: What We Know
The proposed Aletto Square would sit just southeast of Sanborn Square and will (if approved) include a 93 unit, 12 story apartment complex, a 7 story office and retail building, and an eight story automated parking garage. According to Compson Architects, the need for added luxury apartment space is omnipresent, with lessons learned from the Tower 155 project - namely, the reduction during its build from 170 planned units to 128.
In addition to the major proposals stated above, Aletto Square would feature rooftop pool and dining as part of its luxuriant allure, and satisfy what Compson believes is a major need for Class A office space as part of Boca Raton's drive to lure more high value blue ribbon companies to open branches or even headquarter in Boca Raton.
With so many fleeing lockdown conditions and perverse disincentives for businesses, Compson argues that Aletto Square would further enhance the opportunities in Boca Raton for continued economic growth - while its detractors see otherwise.
protecting the last vestiges of downtown character...
In the midst of a red hot housing market and critically low home inventory, area developers are seeking to accommodate the influx of people moving to Boca Raton. Florida has always been a premier destination for retirees and semi-permanent vacationers, but in light of the recent global events, Florida has become more than a place to lay back between the swaying palms and avert the state income tax.
As a response to the overwhelming quantity of new residents moving to Boca Raton, the vast swathes of open farmland strewn across the westernmost reaches of Boca Raton are rife for the picking.
Map View of the West Boca Corridor - North of Clint Moore Rd. and West of 441
From Farmland to Housing
With the value of land skyrocketing and the demand for space at an all-time high, GL Homes has taken up the mantle as the first to land their bid, developing land north of Clint Moore Rd. and west of State Road 7 (US 441). GL Homes is noted for its luxury developments, such as the ultramodern and sleek Lotus, Boca Bridges and the Lotus Palm.
The initial plan is for 1,250 homes. 1,000 will be dedicated to single-family...
The housing market in 2020 and 2021 has roared to life with reckless abandon. With double-digit growth from Florida to Idaho (the second fastest-growing state in the nation), homes are being snapped up like popcorn on movie night. While existing homes are staying on the market for tens of hours, new home builds are backed up and purchased before a hammer meets a nail. Here are 4 home building trends that are pacing the market in 2021!
Specialized Office Space
With the pandemic, work from home became a once-in-a-while event to take on a slow Friday to a distinct way of life. One day soon, we expect PBS will dedicate an episode of their prestigious “American Experience” to the move from office to home. If you, too, have been touched by this tectonic shift in earning a living, you may be tired of staking out the sofa or the kitchen table to take Zoom calls between meals or fits of frenzy from your four-year-old. Homebuilders have taken note and an addition of an extra 80sq. ft in a living room to lavish ensuites have been repurposed in newbuilds to accommodate the new work-from-home lifestyle.
Outdoor Movie Theaters
Champagne & Parisi realtor Karen Anderson hit a milestone this week amidst the backdrop of Florida's surging real estate market. The misfortune of many has been a boon for realtors across the state, as Florida shines nationwide as a destination for those looking for a fresh start. During the events that transpired as a result of the COVID19 pandemic, the reasons why people move to South Florida were magnified, while the reasons to flee certain real estate markets were as well.
Karen's record week topped $11,000,000 (ELEVEN MILLION!) beginning with what may be the single largest sale in the history of the Alina Residences of Boca Raton. This luxuriant condo is as much a resort as a residence, boasting incredible amenities inspired by "the living art" of the space. Alina Residences have long been a significant partner of Champagne & Parisi, accounting for substantial volume in both total condo sales and overall revenue.
Karen grew up in Ocean Township, NJ before relocating to Boca Raton 23 years ago. She was among the initial wave of founding realtors finding their home with Champagne & Parisi, a key cog in the growth and establishment of the brokerage as the go-to for Boca luxury condos and residential real estate across South Florida.
As a result of her record-setting week, which included sales in Sable Pointe & Tropic Isle, Karen was...
Looking for a truly freeing homeownership experience? Save on costs and do it yourself, live outside the realm of an hoa with these 5 MUST See NO HOA homes for sale in Boca Raton!
This classic bungalow-style home features an expansive open area with lots of design options for outdoor entertainment. New windows, French doors, and A/C was installed in 2019. Set back from the main road, this home affords all the privacy and intimacy one would want, with great access to the community around it.
1500 SW 5th ave. Boca Raton, fl 33432 - $1,500,000
This delightful, moderately priced home sits on a wide strand of waterfront at the beautiful Boca Islands neighborhood. Built in 2015, this home grants all the trappings of a modern, sleek waterfront property without the expected concerns with HOA's that many families moving to Boca Raton are seeking to avoid.
Priced at well under our median price for no hoa homes, this home features marbled patios and beautiful interior tiling, hurricane impact windows, a large set back pool and a beautiful fenced in yard.
Boca Raton has always had a glamorous reputation. A community rich in natural beauty and brimming with opportunity, Boca has long been seen as where people go once they've "made it." Yet with conditions nationwide and the economic struggles related to the COVID19 pandemic, many people are moving to Boca Raton for the opportunity, rather than to rest on their laurels. So many are asking the same question, so we came up with 5 of our best answers for why people are moving to Boca Raton.
The Atlantic Ocean
Sure, the Atlantic Ocean has a bit more U.S. coastline than just here in Boca Raton, but for those looking to break their yearlong spell of cabin fever, the Atlantic sunrise feels just a bit more welcoming. From Boca Raton to Miami, the South Florida Atlantic Coastline is a true marvel.
No State Income Tax
This has been an allure for much longer than this current wave of people moving to Boca Raton. The states with the largest outward migrating populations seem to share a few things in common - mainly economically crippling lockdown policies and high taxes at every level. Florida's lack of a state income tax is a game-changer for many families and individuals alike.
Safety and Stability
We're not touting Boca Raton as the final bastion of public safety, but during a year in which crime rates skyrocketed in many cities nationwide, Boca Raton and South Florida...
The real estate market is positively exploding here in Boca Raton. With so many reasons for people to move to Florida, Boca Raton homes have been coming off the market fast! It's always fun to gaze at the most valuable houses for sale in Boca Raton and dream of luxury life. For some, it's a reality. For the rest of us, it's something to work towards. Here are the top 5 most valuable homes for sale in Boca Raton
1271 Spanish River Rd. Boca Raton, FL 33432 - $19,950,000
This fresh architectural masterpiece can be found in Old Boca Raton's Estate Section. For $19,950,000, it is currently the most expensive house on the market currently listed by Champagne & Parisi Realtors.
This brand new Intracoastal mansion was crafted by JH Normal Construction and Brenner Architectural Group. It sits on 190 feet of water frontage, is secured by gates and walls for privacy, giving way to beautiful gardens and a resort-style pool.
1101 Spanish River Rd. Boca Raton, FL 33432 - $16,950,000
This modern mansion features massive multi-level vertical window panes, allowing for the natural beauty of our Florida sunshine to illuminate the entire main receiving area from the front door to the waterfront. With its expansive water views and patio space, this is the perfect home for lawn parties and waterfront cocktails.
415 E. Alexander Palm Rd. Boca Raton, FL 33432 - $16,950,000...
Learn more about Boca Raton's hottest newest condo building! Alina Residences in Boca Raton is the most talked-about downtown condo community with units becoming available in early-mid 2021. Watch Claude of Champagne & Parisi Real Estate on an in-depth discussion with the Director of Sales.
What a slice of heaven; this stunning condo is perfect from the moment you enter the door; floor to ceiling sliding doors in the living room and dining area; views are forever and ever. Unique boutique building situated on Lake Rogers. The kitchen is a cook's dream, no details have been spared in bedrooms, exciting floor to ceiling windows invite the lake views right in; baths with beautiful marble; pool situated on a lake, there is a private dock for daytime use. All solid doors w/special hardware, lighting fixtures are LED throughout and under-counter for dramatic evening effect. Flooring is porcelain, custom cabinetry, this unit has been totally renovated.
There is no doubt that it has been a rough spring for everyone! In Palm Beach County we are finally seeing things getting back to normal with beaches and businesses opening to excited residents. Despite the COVID-19 set back and having to make adjustments in our daily lives, the real estate market in our area did not dip as many expected. Real estate was designated as an “essential business” and Brokers made the adjustments necessary to operate safely and home purchases continued. We also did not see a wave of price reductions. Sellers realized the crisis was temporary and overall held off on the “firesale” approach.
Champagne and Parisi Real Estate is looking forward to a great summer of home sales as the community’s spirit is uplifted with the news that the pandemic is coming to an end. This week Champagne & Parisi Real Estate is releasing the Summer edition of their listings magazine including homes for sale in Boca Raton and surrounding areas. The magazine offered both in a hard copy and digital version features a compilation of Champagne & Parisi Real Estate’s finest properties in a range of price points. Sellers are eager to have their property in the pages of the magazine because of its wide range distribution. Champagne & Parisi Real Estate appreciates the support of the community in this endeavor and hopes for a prosperous summer for everyone! Click here to get your digital version of the Champagne & Parisi Summer Listings Magazine!
At the start of the COVID-19 crisis (back when we were still calling it the Coronavirus), two schools of thought emerged from our learned neighbors, friends and family. The “it’s going to get real bad” group and the “the flu is worse” group. Not knowing which camp to settle in, most of us aired on the side of caution and bought into the thought that “it’s going to get real bad” and ran to the grocery store, cleared out shelves, and, hunkered down for the foreseeable future. Most people didn’t have a choice but to quarantine, “stay at home” orders were implemented, businesses and schools closed and the fear of getting sick with a very unknown illness was looming.
But over a month in, it seems that the tone is changing. People are less anxious about actually getting COVID-19 and are more concerned with when everything will re-open. In fact, in today’s news, citizens in many states are protesting that the restrictive stay at home orders are unconstitutional and discontent seems to be growing among many Americans. I think this is a signal that we are nearing the end of the “lockdown”.
Claude Champagne Co-founder of Champagne & Parisi Real Estate, hopes so, “We would love for things to normalize, but obviously safety is our number one concern”. “We’ve followed all the guidelines but continue to operate, real estate was designated an essential business after all”, says Caesar Parisi Co-Founder Champagne & Parisi Real Estate. “We have promoted our virtual tours and continue to work closely with our trusted title company partners, lenders and attorneys to successfully...
Coronavirus (COVID-19), Is it Time to Worry?
I would be remiss not to briefly address the coronavirus (COVID-19) since it has been dominating the headlines of every media outlet nationally and internationally for the last month. You almost can’t help but get wrapped up in the panic after seeing the stock market tank, listening to reports about bare store shelves and learning that there is a run on Purell and Clorox products. The recent interest rate drop was a bright spot for the real estate industry but the COVID-19 cloud still lingers.
I decided to dial back my hysteria and take a look at what is actually happening in our area, ignoring sensational journalism and varied opinions by medical experts that we’ve seen on the national broadcasts. At the posting of this article, there are no confirmed cases of COVID-19 in Palm Beach County. As a matter of fact, the scrolling cover banner of the Palm Beach County Government website is a notice about the 2020 Census, the 2020 Palm Beach County Mobility Planning Summit and a reminder about Outdoor Adventure Day going on today. The Florida Department of Health website doesn’t have any specific advisories for Palm Beach County either. Local authorities are reminding us about general preventative measures like hand washing, but not suggesting a dramatic change in our daily behaviors.
The major problem with the news coverage is that it is heavily focused on what “could happen” or extreme scenarios abroad and fails to give a true picture of what is happening locally. Since...
Do You Suffer from Overpricedtosis?
The good news, “season” is almost over, the bad news, “season” is almost over. Am I confusing you? Sorry, let me explain… good news first, soon the traffic will resume to normal, you will be more likely to get into your favorite restaurant and peace and tranquillity will return to our area. The bad news, today marks our second day into the last month of “season” and if you haven’t sold your condo yet, you only have 29 more days to capitalize on the biggest pool of buyers in our area at one time.
Businesses off all types thrive during this 3 to 4 month period. Realtors are busy shuffling around town the influx of Northerners, trying to turn “seasonal” renters into Buyers and listing more homes on average than they do during the rest of the year.
But, it’s March 2nd and you haven’t sold your condo yet, should you panic, let’s take stock of the situation. You listed the condo during "season", “check”, you decluttered and made the improvements your Realtor recommended “check, check” and priced it where you wanted, wait, you don’t get a check for the last one. Truth be told, the price you wanted was likely not the Realtor suggested price.
Don’t be ashamed, it’s common. Sellers in our area are often afflicted with Overpricedtosis during the seasonal months. Overpricedtosis causes Sellers to have price delusions and inspires them to list their condos for more than they are worth merely because it is "season" and there...