2006 real estate sales roaring to records

Sunday, Aug. 15, 2006 — Wild. Strong. Hot. Crazy. Boom.

That's not a weather report about this summer's storms, just the Palm Beach real estate community talking about phenomenal residential sales so far this year.

All the brokers say the same thing. They have nothing left to sell, said real estate attorney Les Evans.

According to records at the Palm Beach County Property Appraiser's Office, 2006 is shaping up as a high-end sales benchmark, compared to the past three years. There were 145 sales in Palm Beach for more than $999,999 in 2001, 214 in 2002 and 208 last year. The first six months of this year produced 191.

Helping to make the case for sales fever, the inventory in the Multiple Listing Service has dwindled all summer. In the June roster from the Palm Beach Board of Realtors, there were 128 pages of properties, compared to 116 pages in August.

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Sotheby's real estate affiliations for sale

Luxury brokerage brand looks to grow franchise network

Wednesday, July 07, 2006

The Sotheby's brand is expanding with management of Sotheby's International Realty Affiliates, Inc. announcing that the company is now authorized to sell franchise affiliate memberships in 47 states.

"We are very enthusiastic about this milestone as we can formally address the incredible amount of inquiries we have had from interested potential affiliates," said Rich Green, senior vice president, membership sales, Sotheby's International Realty Affiliates Inc.

The Sotheby's International Realty brokerage network was founded in 1976 and has grown to 155 affiliates and 15 company-owned brokerage offices in the United States.

Cendant in February announced a $100 million deal acquisition of Sotheby's International Realty licensing rights, and Cendant CEO Henry R. Silverman said in April "there are 3,100 ZIP code areas where it would be appropriate to operate Sotheby's offices."

May 12, 2006

The Housing Boom
Hits the High End

By RUTH SIMON
Staff Reporter of THE WALL STREET JOURNAL
May 12, 2006; Page D1

After a torrid period of rising prices in virtually every other price segment, the lagging high end of the housing market is finally starting to heat up.

In the Naples, Fla., area, sales of homes priced between $2 million and $5 million jumped 96% during the first four months of 2006 over the same time last year, while sales of homes priced above $5 million surged 157%...

... the consensus of real-estate firms in many areas is that after a long period of trailing the rest of the market, high-end home sales are finally taking off -- and they're not confined to states like Florida, an especially attractive place for high-end buyers because it imposes no state income tax. Florida also has a homestead protection law that protects houses from being seized by creditors, a factor for some buyers.

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September 26, 2003

Home prices soar in South Florida as sales keep increasing

Florida's housing market continued its torrid growth in August, registering a 19 percent increase in sales of existing homes...

The housing market remained strong in South Florida: Sales of existing homes in the West Palm Beach-Boca Raton area rose 16 percent in August to 1,532 purchases, and the median sales price jumped 27 ...

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August 29, 2003

No ceiling on home prices
Study sees rise in S. Fla. continuing

Even a spike in interest rates won't reverse soaring real estate prices in South Florida, according to a new report in the Miami Herald.

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August 27, 2003

Coldwell Banker Luxury Home Sales Exceed Mid-Year Record

Coldwell Banker Affiliates Report Over 5,800 Million-Dollar-Plus Home Sales in the First Half of 2003 Totaling Over $10 Billion

Florida was the second strongest state with more than $1 billion in luxury home sales volume. Miami was the most active market, trailed by Naples, Boca Raton, Sarasota, Fort Lauderdale. Longboat Key and Coral Gables.

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August 26, 2003

New home sales still strong

Interest rate spike gives impetus to buy

Toll Brothers Inc., the largest U.S. builder of luxury homes, said its fiscal third-quarter profit jumped 27 percent.

``We believe that the luxury new home market will continue to strengthen, given reports of an improving economy and the strength of current demand,'' said Robert Toll, chief executive officer of Toll Brothers, in the company's statement.

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