Dear Friends,
Over the last 35 years in real
estate, I have predominately been
associated with locally owned,
operated and focused real estate
firms on the Islands of Nantucket,
Massachusetts and Palm Beach,
Florida. In 2003, the boutique firm
with which I was associated was
acquired by a corporation under the
aegis of a mega conglomerate. After
five years of growing in this
environment, I decided to return to
the locally committed
real estate environment.
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A New
Adventure |
 Wishing
each of you a holy, healthy, prosperous New
Year!!!
After extensive deliberation, Gerry & I have
made the decision to leave the Corporate
world of the Corcoran Group and return to
the intimacy of a locally owned,
managed and PALM BEACH FOCUSED real
estate firm, Fite Shavell &
Associates, working with a number
of colleagues with whom I have worked for
years. The Fite Shavell & Associates
Real Estate is at 101 N County Road,
located at the same site with which you are
familiar, north of the Breakers Hotel & main
PB Post Office. A new company, the firm is
already #3 in Palm Beach!
"My passion remains the same
- to provide you with the highest
quality and accessibility to the Greater
Palm Beach real estate markets."
We embrace the opportunity to work in a
more locally focused business modality
and look forward to chatting with you in
the next few weeks.
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2008 Endings |
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Bucking yet again the national trend, Palm
Beach real estate continued to hold its
grounds through September 30, 2008. Quoting
from the Evan's Report, statistics below
show a slight decrease in the number
of residential transactions for the first 9
months with an increase of approx. 12% in
total single family residential sales
volume.
However, according to housing numbers
released last week in the front page of the
Palm Beach Post, economists
concur a stabilization in December home
sales. Palm Beach County has seen a 37%
increase in single family home sales along
with a 26% increase in condominium sales.
"There are deals to be made both on the
Island and in the surrounding communities
with low financing rates along with more
realistic sellers and available funds. This
is the Season to buy!" According to the
Palm Beach MLS as of 1/31/09, approximately
$44 million worth of Palm Beach property is
under contract (of which $29 million
represents residences, and $15 million in
condominium contracts).
Residences - Single Family Sales*
1-9/2007 1-9/2008
No. of Sales
114 87
Median
$3,814,375 $3,960,000
Avg. Sales Price $5,241,978
$7,868,966
Total
$597,585,492 $604,600,042
Over 20MM
-- 6
15-20MM
7 1
10-15MM 7
6
5-10MM 29
20
2.5-5MM
39 25
below 2.5MM
32 29
*Note: The stated number of sales does
not reflect conveyances that utilized
assignments of membership interest in
limited liability companies which are
unrecorded and thus not able to be
tracked/documented.
Condominium data was not compiled
but was expected to show a less
promising position. Palm Beach year
end data will not be available until
late February at which time I will
report the findings, which are
expected to scale downward from
these data.
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European Ambiance
of
The Avenue
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Think
Palm Beach and one
typically thinks "pricey" and
unattainable pleasures; and, for
sure, one can support that reality.
However, it t 'ain't necessarily so,
as I share in this column of "Hidden
Treasures" ...experiencing the Palm
Beaches without spending any - or
certainly not a lot of money.
This little
known out door Italian Pizzeria,
with an extended menu of brick oven
baked dishes is located off of the
renown shopping mecca, Worth Avenue.
The jewel sits at the base of the
former home of the architect who
made Palm Beach the Mediterranean
showplace of the new world, Addison
Minzer. Pictured above, the eatery
is surrounded with petite villas and
cascading bougainvillea. This simply
European outdoor café serves their
famous menu under the PB pristine
blue skies, swaying palm trees,
sparrows and sunshine with items
starting at $7. Two blocks from
where I live, it's a weekly
destination for my husband and me,
and a number of PB families and
friends...along side some of "the
rich and the famous".
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Jean Ellen's
Favorites |
with juliet balcony off the
bedroom; surrounded by lush greenery and
flowers ideally located 2 blocks from the
Atlantic ocean, Intracoastal and Worth
Avenue shopping mecca. $1595/mo/ann/unf.
In-town classic
Palm Beach newly
reconstructed Spanish/Mediterranean home
4Br/5.5Ba. Landmarked with tax abatement
set at $41,900 for each of 10 years.
$ 4,575,000
North End
Best Value property in
quiet location three properties from the
Ocean. Approximately 4000sq ft living
area or build anew. Priced below land
value $1,795,000
On the Inlet! Over 7000
sq ft of perfection, direct waterfront,
new construction, custom finishes; water
views from most rooms spelling serenity
and elegance. $9,595,000
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