Browsing Tag:

single family homes

  • #SoooBoca

    Prince Estate & Legacy

    Prince Estate

    WHAT IS YOUR BOCA RATON HOME WORTH NOW??

    As a student at University of Florida in the 80’s, yes I am dating myself…I loved Prince, Purple Rain and his amazing music like 1999 and Let’s Go Crazy! It is very sad for us who enjoyed and partied thru the 80’s and those folks that really embraced his cool and iconic style. Started with nothing and was like a shooting star…didn’t let life’s circumstances hold him back! He accumulated an amazing estate and left behind an incredible legacy!

    As a Realtor that specializes working with inherited properties and the heirs who have to deal with the contents and the real property I am curious what is going to happen with Prince’s estate…what kind of estate planning did he do as he was clearly a meticulous performer and human being. He is not married and has no children so it will be interesting to see who he has appointed to handle his estate and who his designated heirs and charities will be. Many performers and friends have spoken of his giving and charitable heart in life, so in the after life Prince will probably keep on giving.

    The other interesting piece to me is obviously the location of this property…I suspect in his will and I could be wrong, that Paisley Park will be turned into something like Graceland…it is a unique property in the middle of Minnesota.

    Then I think who might be a purchaser of this type of property if it were to be sold?  There is a home for every buyer and a buyer for every home. The recording studio is state of the art so perhaps a music icon? Problem I see is location, location, location…it’s in Minnesota… not exactly on the beaten path of the music industry and without Prince actually “in the house” what kind of draw is that?

    So we wait and see…to be continued…

    Dearly beloved
    We are gathered here today
    To get through this thing called life

    Electric word life
    It means forever and that’s a mighty long time
    But I’m here to tell you
    There’s something else
    The afterworld

    A world of never-ending happiness
    You can always see the sun, day or night

    Here are some pics from his $10 million dollar Paisley Park estate courtesy of the Daily Globe.

    Prince Estate

    Prince Estate

     

     

  • #SoooBoca

    2016 Won’t Turn The South Florida Real Estate Market Upside Down

     

    South Florida Real Estate Market

    The South Florida Real Estate Market is still a seller’s market with lower inventory then we like to see. But sales are brisk with multiple offers coming in on properties that are priced properly.

    According to the Miami Herald, real estate insiders expect 2016 to be a strong year for South Florida despite slowing sales and price gains in the condo market, according to a survey conducted by Berger Singerman.

    The law firm polled about 100 top developers, Realtors, investors, lenders, and contractors
    for their take on the new year.

    “The overall consensus is that things are going to continue in a similar direction,”
    said Jeffrey Margolis, a partner at the firm. “2016’s going to look a lot like 2015.
    So while everyone is asking, ‘Are we in a bubble? Is it all going to come crashing
    down?’, the smart money says that’s not the case.”

    About 42 percent of respondents said 2016 will be “somewhat better” than 2015. About
    37 percent said there would be “no change” in the market next year. Only 13 said
    they expect a “somewhat worse” year.

    The reason growth won’t pick up much? Struggling economies in Latin America and
    Europe are holding back the foreign investment that has fueled South Florida real
    estate since the recession, particularly the new condo market, an important local
    economic driver. (Single-family homes are still selling at a record pace because
    of tight inventory.)

    More than 60 percent of respondents pegged “global economic conditions and uncertainty”
    as their top reason for a lack of confidence in the market.

    The poll also revealed that developers plan to build more than just condo towers.
    While 26 percent of respondents said condo development will produce the highest
    returns in 2016, the hotel and hospitality (21 percent) and retail (20 percent)
    sectors weren’t far behind.

    That’s a change from previous years, said Berger Singerman partner Marc Shuster.
    “We’re definitely seeing more diversity in the market,” Shuster said. “Following
    the multi-family rebound, people have a feeling that these other areas are going
    to take off too.”

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