PowRE Total Cost of Ownership By Golf Community:

Community Average Median $/SF DOM Units Inventory TCO 
Price Price For Sale Months (Per Month)
Sailfish Point $1,550,000 $1,450,000 $330 370 28 26 $12,200
Medalist $1,300,000 $1,300,000 $300 230 9 48 $10,200
Loblolly $1,050,000 $1,100,000 $260 700 12 24 $8,300
Hobe Sound Golf $680,000 $630,000 $236 110 7 12 $5,700
Willoughby $460,000 $430,000 $156 130 20 15 $4,800
Mariner Sands $370,000 $350,000 $125 120 43 11 $4,100
YCC $350,000 $320,000 $140 80 8 2 $3,400
Summerfield $335,000 $315,000 $155 50 8 3 $2,800
Lost Lake $300,000 $290,000 $160 50 5 2 $2,700
Florida Club $280,000 $250,000 $155 45 9 4 $2,600

For more information: +1.772.538.5400

Little Inventory:

The Treasure Coast, like a lot of Florida has little inventory.  Prices are being bid up by buyers fed up with Northern winters and unwilling to wait for some equilibrium in the real estate market.

Treasure Coast Home Prices: UP 11%:

The Realtors Association of Martin County and Florida Realtors are both pointing to higher average and median prices for single family homes.  The PowRE Index that tracks the leading golf clubs finds prices rising even faster.

Barrons Positive on Treasure Coast:

Barrons says the Treasure Coast of Florida is a top area for real estate investment.  The gist of their arguement is that the natural migration is away from South Florida’s hustle and bustle and that the Treasure Coast is also a mecca for research growth, as well as, retirees and second buyers.  Barrons published the following table taken from Florida Realtors:

Homes

Condos

Median Price 

(000)

Median Price 

(000)

2005 $235 $210
2006 $247 $212
2007 $234 $205
2008 $188 $164
2009 $143 $108
2010 $136 $90
2011 $132 $88

2012

2013

2014

2015

$190

$210

$225

$245

$111

$120

$135

$140

Boomers Heading South!

Mason-Dixon Polling & Research released their Boomer Retirement Plans:  (based upon 78,000,000 Boomers)

1. 58% to buy a retirement home.

2. 96% believe top-quality health care is important.

3. 92% believe affordable housing is a criteria.

4. 86% point to warm year-round weather — Carolinas thru Florida.

5. Affordable recreation was sited by 80% of respondees.

6. 70% look forward to a small town atmosphere.

7. Beaches are important to 60%.

8. PowRE’s research indicates 2.3 million Boomers heading to Florida over the next 13 years.

Florida Is Hot!

A little perspective of American real estate 2005 through January, 2012 — from leading research firms:

Home Prices 2005 Through 2012 By City

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Now available: Inside Hobe Sound: Click Here! (With Pictures of Tiger Wood’s and Celine Dion’s New Homes!

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    “Home prices and mortgage rates have fallen so far that the monthly cost of owning a home is more affordable than at any point in the past 15 years …”

National + State News:

NAR and Florida Realtors are reporting a difficult market for 2012:

1. Foreclosures are up 10+% and the Shadow Inventory may double Foreclosures.

2. Home prices are down 5+%, while unit sales are up 10% over 2010.

3. Home owners under water (they owe more on the mortage than the house is worth) are up 7%.  In Florida, about half of all mortgaes are ‘under’.

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Case-Shiller
Home prices in South Florida and across the nation fell in September.   Prices in Palm Beach, Broward and Miami-Dade counties fell 01% and 5% compared to a year ago.  The index nationally dropped 4%.   Prices nationwide are where they were in the first quarter of 2003.               

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Mandatory Membership Clubs/Communities Home Prices Fall!

Country and Golf Clubs with mandatory membership are seeing dramatic reductions in the value of their home prices.  The difficult economy makes home buyers very sensitive to their Total Cost of Ownership.  These buyers are concerned about mandatory club and HOA fees.  Three Stuart Clubs have seen the price of their homes slide further than other clubs in Stuart who do not mandate membership.

The most obvious case is Pipers Landing, where homes that sold for $500,000 in 2005 are selling for $50,000.  The community places a tax of approximately $30,000 on real estate transactions and then the mandatory club joining fees are $70,000.  Then the golf club dues are approximately $1,300/month.

Willoughby Golf Club and Mariner Sands Country Club have both transaction fees and mandatory club dues.  Their home prices are also falling relative to non-mandatory clubs in the same area; though no where as precipitously as Pipers.

The Realtors Association of Martin County for the period January, 2011 through October, 2011 reports the following results by club/community:

Total Cost of Purchase Analysis Between Mandatory and Non-Mandatory Clubs and Communities:

  Mandatory Membership:
Original List Price Sale Price DOM SF Beds Baths $/SF Orig/Sale Closing Fee Certificate
Mariner Sands CC  $      382,300  $    360,911  $     309,139 146    2,896 3 3  $   107 81%  $         8,500  $    25,000
Pipers Landing CC  $      225,375  $    160,313  $     110,188 353    2,892 3 2  $     38 49%  $       30,000  $    70,000
Willoughby GC  $      359,106  $    317,094  $     276,019 231    2,453 3 2  $   113 77%  $       17,000  $    25,000
 Mandatory Ave.:  $      247,135  $    226,002  $   195,053 125    1,783 2 2  $    73 53%  $         8,500  $    40,000
  Voluntary   Memberships:
Florida Club  $     259,519  $    249,451  $     234,992 88    1,814 2 2  $   130 91% 0 0
Lost Lake GC  $     290,487  $    276,452  $     260,343 151    1,935 3 2  $   135 90% 0 0
Summerfield GC  $     316,578  $    297,178  $     278,278 118    2,067 3 2  $   135 88% 0 0
YCC Golf Homes  $      324,531  $    286,823  $     249,623 260    2,356 3 2  $   106 77% 0 $2,000
 Voluntary Ave.:  $      297,779  $    277,476  $    255,809 154    2,043 3 2  $  126 86% 0 500

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Thinking about Selling: Click Here for Selling.

Thinking about Buying: Click Here for Buying.

PowRE Tracks the Best Buys in the Area: Click Here for Best Buys.

Inside Hobe Sound: Click Here