Boca Raton Real Estate Blog

Coronavirus (COVID-19), Is It Time to Worry?


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 COVID-19 is spread from...

Do You Suffer from Overpricedtosis?

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...