Emerging Housing Market Trends 2015

At Frankel Realty we are fully aware that the housing market is facing constant change. We make use of our extensive resources and skills to keep a close watch on emerging trends. For 2015, we can make several predictions based on the emerging trends:

The mortgage rates will be increased

According to many real estate analysts, there is a very high possibility in favor of higher mortgage rates in 2015. The average mortgage period is about 30 years for most home buyers. It is predicted that the interest rates on 30 year mortgages will gradually climb and rise up to 5% by the end of 2015.

Millennials will seek to buy more as opposed to renting

For many years, millennials have been renting their properties instead of owning their own homes. It is expected that from next year, a considerably large percentage of millennials will look into building families and seek stability in the form of their own homes. In fact, some real estate experts predict that millennial buyers may represent the larger portion of home buyers by the end of the year 2015. Their housing preferences are often closer to core urban areas and are smaller in size and properties that fulfill these requirements may see some considerable demand next year.

Home prices will gradually rise

Home prices vary at a local level and in some U.S. cities, they will continue to rise through 2015. According to the S&P/Case-Shiller Home Price Index, home prices are headed upward and have been so for a while. According to the latest Case-Shiller report, nationwide house prices have risen about 5.6% over the last year. The financial data presented from CoreLogic predicts monthly home-price gains along with annual gains. The report expects home prices to rise by about 5.7% from July 2014 to July 2015. In comparison to last year’s forecast, residential property values are expected to rise in 2015 but at a considerably slower rate than that of what was reported within last year.

A decline in foreclosures

When the housing market crashed, home foreclosures rose in a sharp spike and have remained at high levels for the following years. For the past few years, foreclosure rates have seen a considerable decline and many real estate experts consider this as a positive sign for a recovering real estate market, as well as the overall economy. For about 31 months in a row, foreclosure inventory has shown a notable decline. Fewer homes are expected to be foreclosed in 2015 and it will help the market recover from its dramatic crash.

More people will qualify for mortgages

According to a Bank Lending Practices Survey done by the Federal Reserve, mortgage lenders are expected to relax their standards for applicants. It is expected that lenders will allow applicants with lower credit scores and higher debts to obtain mortgages. This is actually a reaction to lower loan volumes and it was first noticed in 2014 and is expected to continue in 2015.

The realtors at Frankel Realty are aware of current market trends and how rapidly they change. If you need professional guidance for real estate transactions in 2015, consult with Frankel Realty. Call us on (561) 427-2154.

Senior Housing: Making A Home Safe

If you over 65, there is a high possibility that the house you live in might not have grown up with you. Things change and you may be less capable of handling everyday tasks in the same house you lived in when you were younger. If that is the case, there are simple ways to ‘seniorize’ a home. Read our simple tips below:

Safety is the first concern

Even the most average of homes is full of dangers for a senior citizen. Therefore, additional safety precautions are a must. For starters, be sure to install smoke alarms just about anywhere you see fit. A carbon monoxide alarm would also be a good idea to prevent unlikely yet dangerous accidents. Consider using intercoms and monitors, good lighting in all areas of the house and remote switches for lights. Additional measures include installing protective screens for fireplaces, covering hot water pipes, placing a fire extinguisher in the kitchen, as well as creating escape plans for any emergency.

Look for hazards all around the house

If you have difficulties with walking, eyesight or balance, the dangers of an average home pose greater risks. For instance, doorway thresholds that are raised, throw rugs, clutter and some carpets can lead to accidental tripping and will need to be removed. Having pieces of furniture that stick out into pathways, slippery floors and electrical cables may be dangerous. And be sure to install non-slippery and sturdy handrails on staircases.

Bathrooms need to be extra safe

Bathrooms can be rather dangerous for seniors but these dangers are easily prevented. Slipping is the most prominent risk in a bathroom. For instance, adding grab handles to bathrooms will prevent slipping, while non-skid mats inside and outside the tub or shower cubicle will also provide protection from slipping. Shower benches and chairs can be a great help for an elderly person.

Make a change to daily activities

There is no need for an elderly person to rush and hurry about. Instead, there are plenty of ways to simply slow down and to make a change to the daily activities to make life safer and simpler. Things like storing regularly used household items within easy reach, purchasing a grabber for items that are far away or using a phone with larger numbers can help create a safer, senior-friendly lifestyle. In addition, simple changes such as not carrying a lot of things at once, adding a place to put packages right next to your door and wearing comfortable shoes can make a world of difference.

Shopping For Antiques: West Palm Beach

If you have a love for antiques, South Dixie Highway or Antique Row in West Palm Beach is the ideal destination to shop until you drop. This is a fantastic destination to purchase from a truly immense and impressive selection of home décor, vintage jewelry and other items from an era gone by. From grungy thrift stores, all the way to high-end exclusive boutiques, the 40 antique stores of Antique Row have something for every one. The extraordinary selection includes high quality furniture, tiles, frames, rugs, fabric, art, lighting and miscellaneous items. The famous Antique Row runs from Belvedere Road all the way to Forest Hill Boulevard.

The many vintage and antique stores in Antique Row offer items at various price points. From the exceptionally cheap, to reasonable, all the way to very high – the prices come in just as wide a range as the merchandise. The most popular items for sale include jewelry, furniture, decorative items and beautiful vintage clothes.

Jewelry

D. Brett Benson, one of the most famous dealers of vintage jewelry operates a store on Antique Row and features a truly exceptional selection of jewelry. The selection includes designer costume pieces, Mexican silver jewelry, art deco jewelry, modernist silver pieces and even a few arts and crafts pieces. The silver jewelry selection offers pieces from the likes of Aguilar, Spratling and Theodor Fahrner among many other fantastic designers. While not necessarily a bargain store, the store offers high end pieces that are of great value for money.

Miscellaneous

If you are in the mood for something eclectic, you can head on to Elena Bremmer’s “Cherry Pickings” to find a divine selection of beautiful sculptures, fine art, vintage jewelry and a range of items brought in from European excursions. Elena Bremmer is a Russian born antique connoisseur and the pieces on offer at the store range from 18th century Italian and 19th century English Bamboo, all the way to the Hollywood Regency era.

Housewares

Antique Row features several great stores full of top of exquisite furniture pieces. Regency Antiques and Home is one such place where you can find a truly exciting selection of pillows, handloom throw rugs, creamware, continental furniture and lighting among a range of other items. If you head on to the Todd Hase’s latest showroom, you will come across an impressive selection of custom upholstery, accessories, lighting, fine art and a myriad of French antiques.

Dinnerware

If you step into Devonia Antiques for Dining, you will find an excellent selection of antique dinnerware that is sought after by entertainers, wedding guests and serious collectors. The establishment is renowned nationally for having one of the largest crystal, Gilded Age china and antique collections. If you are a fan of lavish dinnerware, this is the place to find some of the most valuable pieces that range from heirlooms all the way to gorgeously designed fine porcelains.

6 Home Improvements To Boost Your Selling Price

Whether you plan on selling your house immediately or are thinking of making a long term investment, home improvements can boost the value of your house. If you intend to do any renovations or improvements to your house, it is always important to think of the potential returns first. Here are some great home improvement ideas to raise the value of your home.

Decorating Is Key

Decorate your garden – A beautifully landscaped garden provides instant curb appeal that can create a great first impression while adding to the value of your house. Adding some fresh plants, flowering bushes and creating a neat driveway can create a beautiful garden with minimal effort.

First Impressions Speaks For Itself

Improve the entryway – The entryway is just as important as the garden. A fresh coat of paint to the exterior of the house and the front door can brighten up the house immediately. 

The Little Details

Lighting trends change over time while plumbing needs regular maintenance. Paying close attention to any lighting or plumbing fixtures that need repair and choosing modern upgrades can help a great deal when it comes to driving your house price up.

The Importance Of Re-Painting The Ceiling

Spruce up the ceiling – While you may not think this is very important, the condition of the ceiling can drastically change the appearance of a room. For instance, outdated styles such as popcorn ceilings are best removed to improve the look and appeal of your home. You can also apply a fresh coat of paint to update the appearance.

“Out With The Old, In With The New. . . “

Replace old carpets – Old carpets are very easily noticed and may cause a range of problems if left unattended. While cleaning them is the first choice, extremely old carpets might not be improved even with a professional cleaning job. If you have hardwood floors, it is best to expose them as they are a great selling point and make for a beautiful interior. New carpets ought to be chosen with long term use and ease of cleaning in mind.

The Quick, Cheap & EasyWay To Make Your Home Looking Brand New

Paint the interiors – Just like the exteriors, a fresh coat of paint can make a world of difference to a house by making it appear instantly new. If you have plans to sell the house in the near future, it is advised that you stick to neutral colors to enhance the appeal to a wider audience.

At Frankel Realty, we are the experts at selling homes. Call us on (561) 427-2154 to get the professional advice you need. 

Tips For Relocating To A New Area

Relocation takes time, effort and a great deal of planning. For many people, moving to an entirely new area is a bit of a challenge. There are many new things to prepare for as well as a lot to leave behind. Here are some great tips on relocating to a new area and what you can do to make the transition smoother.

Prepare for the weather

If you are moving to a sunny area, such as South Florida, and have previously been living in a colder part of the country, you might want to take some time to prepare yourself for the warm climate. Some people find it difficult to adjust to warmer or colder climates and end up feeling uncomfortable for most parts of the year. It is always advisable to spend a few days in the area that you wish to move to in order to get a feel of how you will adjust to the climate.

Expect lifestyle changes

Unless you are moving to a place that is identical to where you lived, you will be facing changes in all aspects of your lifestyle. For instance, the things you did for entertainment will change, your children would have to attend different schools and even your shopping habits may change. Once again, some research is essential before making a purchase in a new area to make sure that the lifestyle changes are not overwhelming.

Get to know the community

Your neighbors are an important part of your new life. One of the best ways to get to know them is to sign up for local activities. Most areas have special festivals, concerts, parades, parties and events hosted by the community and new residents are always welcome to join. Before the move, be sure to make plans for socializing so you can meet people in the area. If there are no upcoming community events after your relocation, you can always stop by and make an introduction to a neighbor who lives nearby.

Stay positive and relaxed

This is an important tip for those who are moving for the first time. It may be a bit difficult to picture the uprooting of the life you are used to and then starting over at an entirely new area. You may face changes that are quite significant and miss the comfort and familiarity of your old life. In reality, the adjustment is not too hard. Take things one day at a time and enjoy yourself while attempting to adjust to the differences. The more positive your outlook, the easier you will embrace the change.

To find the perfect South Florida home, call Frankel Realty on (561) 427-2154.

Outdoor Christmas Decorating Ideas

What better way to spread good cheer and to show off your holiday spirit than to decorate your outdoor space for Christmas? There are plenty of Christmas decorating ideas to create something truly magical and festive. Below are a few ideas to transform your front or backyard for the holidays.

Lights can make up for the lack of snow

Lights are a great choice to dress up a garden for Christmas regardless of which part of the country you live in. In South Florida, lights can make up for the lack of snow to create a festive atmosphere even on the greenest garden. If you have trees, you can string lights on them, or focus on accentuating the house with lights. Tropical trees such as palms look beautiful when strung with lights.

Invest in some wire sculptures

Festive wire sculptures can also be strung up with lights to add to the festive spirit. The sculptures can be made into any festive shape, as per your preference, and adorned with single colored lights or multi-colored lights to create a fantastic effect.

Hang some icicles

Icicles are readily available in many stores and will make a beautiful addition to the outside of your home. Hang them from trees to create an effect of melting snow that will work perfectly with the sunny weather. Some fake icicles even light up in the night to create a subtle winter wonderland effect.

How about some giant snowflakes

Snowflakes are a popular choice for Christmas décor. As for outdoor décor, you can purchase beautifully designed snowflakes that can be hung up from windows or tree branches. The trees are a particularly beautiful choice as different sized snowflakes would create a stylish effect during the day, and at night if they light up.

Place Christmas themed lanterns on your walkway

If you have a particularly long walkway, placing Christmas themed lanterns on either-side would be a great way to welcome your guests. You can go with miniature Christmas figurines, trees or minimalistic globes that light up blue-white to create the effect of icy lights.

Make festive wreaths from locally found items

Once a guest reaches the front door, a wreath is the perfect way to welcome guests into your home for Christmas. To create decorations in the true Florida style, you can make use of readily available local materials, Palm leaves, starfish, shells, driftwood, washed up bits of coral along with ribbons and lights to create beautiful beach style wreaths that would surely impress your guests. You can either go with the traditional red, green and white or go with a beachy color such as turquoise or coral to create a strikingly unique wreath.

Storing Wine At Home

Whether you are planning on creating an all new wine collection or have simply bought too may bottles to drink straight away, a few handy tips on storing wine at home can help you preserve the quality of the liquor and to provide proper storage as they mature. Professional grade storage is a must if you plan on building up your collection and preserving the value of rare bottles.

At-Home Storage
Whether you are planning on creating an all new wine collection or have simply bought too may bottles to drink straight away, a few handy tips on storing wine at home can help you preserve the quality of the liquor and to provide proper storage as they mature. Professional grade storage is a must if you plan on building up your collection and preserving the value of rare bottles.
The Right Location

For starters, you have to pick the right part of your home to build a wine storage. If you consider a luxurious residential area such as Palm Beach, you will find that quite a few of the high-value homes have wine storage facilities. Even if you live in a different part of the country, a cool basement that is not too damp is the ideal choice for storing wine. However, not all of us are blessed with such spaces in our homes. Therefore, you can always look for a closet or a vacant area in the house that does not receive direct light. Be sure to stay well away from boiler rooms, laundry rooms and kitchens as the temperatures can seriously damage the quality of the wines. In short, a cool place is a must to store wine with complete confidence.

Setting Up The Room

Wine cooling units are a great investment if you don’t have a space that is cool enough or is prone to prominent temperature fluctuations. There are plenty of affordable systems that are specifically designed to store wines. If your bottles are particularly valuable and you plan on adding equally valuable bottles to your collection

Traditionally, wine bottles are stored on their sides to prevent the corks from drying out. You won’t necessarily have to worry about horizontal storage if you plan on drinking the wine in the near future or if the bottles are closed with plastic corks, glass corks or screwed on caps. However, horizontal storage is a great way to save space in your storage unit and it is always better to be safe than sorry.

Keeping Humidity Levels Just Right

Aside from light and temperature, you will also need to give special attention to humidity when it comes to storing wine at home. The ideal level of humidity is considered to be at 70 percent. According to wine experts, the dry air will cause the corks to dry out, let air into the bottles and to spoil the wines. It is completely safe to store wines between 50 and 80 percent humidity and you can always place water in the storage area to help the cause. However, extreme humidity is not a good thing as it can promote the growth of mold. While a properly sealed wine won’t be damaged with high humidity levels, it can definitely damage the labels. You can install a dehumidifier to help manage the optimum level.

Many homes in Jupiter, Palm Beach Gardens and North Palm Beach come complete with wine storage rooms. Frankel Realty can help you find a luxury home with this unique feature. Call us on (561) 427-2154 to find your home.

6 Advantages of Hiring a Real Estate Agent

Nowadays, selling or buying a house without the aid of a real estate agent is almost unheard of. With decades of service in the real estate industry, Frankel Realty has put together a list of 6 advantages of hiring a real estate agent in both buying and selling situations.

1. Convenience and greater access

Whether you are buying or selling a house, it is unlikely that you will be able to spend a lot of time on the job. Hiring a realtor will help you find properties that suit your needs. A realtor will also arrange home viewing appointments, place calls about inquiries and relay important information to you. When it comes to selling, not responding fast enough can lead to losing a good deal and when it comes to buying, your seller may move onto the next offer if you don’t respond. Instead of waiting by the phone, it’s a much better option to simply let a professional handle the work.

2. Real estate agents are better at handling contracts

Real estate contracts are tricky and time consuming. Unless you intend to invest all your time on selling or buying a house, it is best to let a professional take over. In both buying and selling situations, the contract will need to be properly inspected and prepared to make sure that you don’t face problems later on. An experienced realtor will have plenty of experience in handling contracts and is better suited to handle contracts.

3. Real estate agents will tell you everything you need to know

Considering a property with a price tag that appears too good to be true? Why are you only getting offers that are too low? From the amount you can afford to spend on a house, all the way to the ways in which you can enhance your home’s value, a professional realtor will let you in on the secrets of the trade to help you secure a good deal.

4. Real estate agents know the market

The housing market changes with time. This is one of the main factors that determine the price of a house. If you are selling a house or considering buying a house in a certain neighborhood, your agent will have the necessary information and professional knowledge to answer your question and let you know whether you are getting into a good deal or not.

5. Realtors are experts at negotiating

Unless you negotiate for a living, it is highly advised to let a realtor handle the negotiation process. When it comes to making and accepting offers, a real estate agent will help you decide on the amounts while also providing information to justify your claims. Since they know the market well, they will be able to make sure that you get a good deal.

6. Your agent will guide you through the entire process

Everything from narrowing down properties to suit your needs, filtering potential buyers, sorting out offers and arranging inspections, all the way to helping you secure a loan, negotiation and carrying out a title search, are services that real estate agents offer. In reality, with a good agent, you won’t have to do much except to say “yes” or “no” and to provide any information they require. When you’re looking for an agent you can trust, call Frankel Realty on (561) 427-2154. We’ll be happy to help!

Upcoming Holiday Events in West Palm Beach

With the holiday season coming up, there is no better place to be than West Palm Beach. There is an impressive selection of festivities and holiday events lined up for residents and visitors. Whether you are a family with children, a couple or a traveller, the upcoming holiday events are perfect for everyone to enjoy.

Palm Beach Holiday Boat Parade

Be sure to keep the 6th of December open for the Palm Beach Holiday Boat Parade. Palm Beach, with its fun and relaxed atmosphere knows how to kick-start the holidays and will stun visitors and residents alike with a sight of beautifully decorated boats. The parade has many participants and offers a delightful show of boats of various sizes, decorated with sparkling lights and holiday decorations along with a couple of surprises as well. The Holiday Boat Parade will start near the North Palm Beach Marina and move toward the Jupiter Lighthouse through the Intracoastal Waterway. Aside from the fascinating sight of sparkling boats, the event also features a range of fun-filled activities for the whole family at Harbourside Place and Riverwalk Events Plaza among other places. Grabbing the best seats to catch the view is no challenge as there is quite a selection of public parks and other spots along the parade route. The best views are offered from Juno Park, Riverwalk Events Plaza, Sawfish Bay Park, Harbourside Place, Bert Winters Park and North Palm Beach Country Club.

Dec 11 – 14 Palm Beach Food & Wine Fest

What better way for a food lover to celebrate the upcoming holiday season than to take part in the Palm Beach Food & Wine Fest? Held from the 11th of December until the 14th, the Palm Beach Food & Wine Fest is a fantastic opportunity to watch specialty discussions by top chefs, enjoy 5 course dinners and to try out exquisite wines and delightful cocktails. This is a gastronomic extravaganza with lots to offer its participants. From excellent food to fun-filled karaoke sessions, this is a delightful showcase of culinary talent and a chance for foodies to get a start on the holiday season.

Home Staging On A Budget

Home staging is one of the best ways to display your home to potential buyers in the best light possible. Home staging has been proven to provide home owners with a competitive advantage and even to increase a house’s value by 10 – 15 percent. While many people hire professionals for home staging, this may get a little expensive for those on a budget. However, you can still display your home professionally without needing to spend a fortune.

De-clutter

De-cluttering is a great way to remove the personal traces from your home. Many home staging professionals swear by de-cluttering as a starting step for almost every project. The best thing about de-cluttering is the fact that you can easily do it yourself with the aid of your family and friends. Once you remove the clutter from your home, it will appear larger, full of light and more spacious.

Let some light in

Aside from space, home buyers are often drawn to properties with plenty of light flooding in and radiating throughout the home. It doesn’t cost you anything to open up the blinds and windows as to let some light in. With extra light, the space will feel brighter, warmer, welcoming and more spacious which in the end, add to the value of the property.

Patch it up

Home staging professionals often inspect a home for imperfections and work on fixing them so that buyers won’t notice them and cause the value to go down. Patching up any cracks, holes and dents is exceptionally easy and will create a smooth finish. A great way to make sure that you patch up anything noticeable is to get a friend to come along, take a look around and point out any imperfections. You can easily patch them up yourself without needing to spend much.

Paint the house in a neutral color

This is one of the easiest ways to transform a home for minimal investment. Repaint brightly colored walls in a neutral color to appeal to a broad spectrum of buyers. In addition, choose a few different, yet complimentary neutral shades for a bit of subtle variety.

Rearrange your furniture

Home staging professionals will always recommend that you change the furniture layout of your house to maximize the available space as well as to create a new look. This is a great way to make sure that potential buyers have a clear path through the home while also reducing the cluttered effect. It is highly recommended that you draw up a plan to place the furniture before you rearrange them to save time and to try out a wide range of variations.

When it comes to selling your house, home staging and the right real estate company can ensure you get the best value in a sale. Contact the local experts at Frankel Realty on (561) 427-2154.

Frankel Realty Group follows the letter and spirit of the Equal Housing Act, and is a member of the Northern Palm Beach County Board of Realtors, the Florida Multiple Listing Service, and National Board of Realtors.  Thomas Frankel is Broker of Record.   Frankel Realty Group and all of its affiliated agents are licensed as either brokers or salespersons by the Florida Real Estate Commission.  Copyright © 2013 Frankel Realty Group, All Rights Reserved. The name Frankel Realty Group and its logo and design are trademarks of Frankel Enterprises or its affiliates.

 

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