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You’ve seen the news and you’ve browsed the local MLS, so you know that even here in Palm Beach County, there are very cheap homes listed on the market ready for the next available buyer. But what does a South Florida home listed for under $50,000 entail? The West Palm local movers did a little research and decided to see if these properties are truly smart investments or are more like exhaustive projects and problems. Interested in what we learned? Read on to learn more!

Some properties are listed as low as $35,000, which prompted the local CBS network to visit the property and see what the potential catch was. Apparently, the $35,000 house was no longer available, but a similar property for $65,000 still was. This home has termites, roof leaks, and an unstable foundation—the entire front of the home is unstable. Plumbing and electrical work also have problems.

In another element of these listings that does not sit comfortably is the fact that the properties are cash buyer only. If you do decide to go for one of these rock-bottom listed homes, make sure you get a thorough home inspection and work with a reputable realtor to ensure you don’t get taken advantage of on top of the existing negotiations.

Buying a home for the first time? Debthelper.com, a counseling agency, holds monthly classes about the housing market, the home buying process, and other important information at its offices, 1325 N. CongressAve. The events run from 9 a.m. to 3:30 p.m. The cost is $25 per household. The course will cover popular topics like mortgages, property insurance, and how to navigate a competitive market. The course also serves a fiscal benefit for attendees, as it meets requirements for down payment assistance and homebuyer subsidy programs.

Pre-registration is required. Call 561-472-8000 or send an email to FTHB@debthelper.com. The Royal Palm Beach movers have found that this month’s scheduled class will take place October 19^th in West Palm Beach. Buying a home is a huge step, so you should dedicate an afternoon to learning about the process and what to expect and prepare for as a buyer.

Home prices and sales are climbing in the Palm Beach County area, according to the Realtors Association of the Palm Beaches, who shared that the median price for existing home sales is $250,000, which is 16 percent higher than this time last year and up $1,000 from July 2013. Home sales in volume rose 17 percent from 1,461 to 1,244. The Wellington local movers have learned that the median price increased more than 20 percent for six consecutive months at the beginning of this year and then cooled off around May. Mortgage rates climbing and fewer properties are being purchased as investment buys, slowing the market in some aspects, but still proving quite competitive for prospective buyers who can’t seem to get to view newly listed properties before they are off the market with several offers on the table.

Palm Beach County currently has 5,955 homes for sale, and that is a decrease by 33 percent of available homes from the same time last year. Owners are energized by the price gains, but they aren’t listing enough homes to meet the demand by interested buyers, making the transition to sellers market pretty solid and making for a very competitive market. The growth in jobs and other economy strengthening signs have contributed to the success of the local market, and the gain in prices has urged sellers who were hesitant to list to move forward with selling.

The Icon Palm Beach is shaping up to be quite the commercial real estate project, with new reports touting that the development will have more than 1,000 condos housed within six towers. The project was initially introduced in 2011 with two towers and about 400 units before the plans were pulled. The project was initially planned for five acres on the Flagler Drive/4400 block in West Palm Beach, and the new changes require the development to encompass more space, now beginning at the 4200 block and utilizing a 14-acre site and marina to the south.

The Icon Palm Beach has certainly been a long-awaited development and the momentum has certainly built over the last two years. The landowner, RSBC Real Estate Co., has signed on to help bring this project to a larger scale for a total of six towers. The Lantana movers have found that the Icon’s 1000 condo units are not the only new living arrangements coming to the area. In total, there are 10 new condo towers going up that will consist of 1,800 units available for residence in downtown West Palm Beach as of September 22. East of I-95, there are 22,500 units proposed for South Florida.

Looking to move to a coastal mansion along the Palm Beach waterfront? A developer is asking for a $45 million payday on a furnished oceanfront mansion in the cozy coastal down of Manalapan located at 800 S. Ocean Blvd. The home is about 18,000 square feet and features 203 feet of direct oceanfront. Inside the home boasts 8 bedrooms, 11 full bathrooms, 4 half bathrooms, a VIP suite, east and west heated pools, a tennis court, and an underground garage. The owner/developer Patrick Carney just sold the property next door at 750 S. Ocean Blvd. for $24.75 million to Anthony Robbins, the famed life coach.

The Manalapan local movers have found that the house is drawing plenty of interest from prospective buyers, thanks in part to the luxury market heating up consistently in South Florida. In fact, there aren’t many oceanfront properties available to buy in South Florida—they don’t last very long on the market. This home is three stories and has amenities like an elevator, 20 car garage, formal dining rooms, and 6 en-suite guest rooms. You can view images and read more about the property here.

There has been quite a stir about the Palm Beach Outlets that are opening in February 2014, and the list of tenants signing on to lease space keeps growing. The latest addition is for OFF 5^th of Saks Fifth Avenue to anchor a 25,000 square foot store that will feature womenswear, menswear, children’s clothing, jewelry, beauty, shoes, and accessories. The Boca Raton local movers have learned that the outlet mall, at this point, will be comprised of almost 100 outlet stores, as well as an adjacent retail center and a Whole Foods market.

Over 90 percent of the complex at this point has committed tenants, and they are comprised of many notable names in fashion, of course such as Saks. The outlet mall will be located off of Interstate 95 on Palm Beach Lakes Boulevard. Nordstrom Rack, the discount retailer for Nordstrom, will also be present in the plaza.   

Despite historical notions of the American dream revolving around owning a home, an interesting trend has come to light which states that home ownership is decreasing in South Florida. It’s actually been decreasing since 2005! Thanks to acts of nature like the hurricanes of 2004 and 2005, skyrocketing insurance rates were one reason that homeownership doesn’t appeal to many in the sunshine state anymore. The West Palm local movers decided to look into what other reasons might be impacting the no-interest world of homeowning in Florida.

So what gives? Well, insurance rates are not alone in the blame. The housing bubble burst as well, leaving many homeowners underwater on their mortgages. Paired with job losses and soaring interest rates, the market fell flat on its face. Owners, real estate agents, and renters predict that the market will continue in limbo for a few years at least, until things start to level out financially and in the job world.

In Florida’s Port St. Lucie, investment properties are selling at lightening speed, with new owners then flipping and reselling properties at a higher price point to those looking for a new home. It’s gotten so popular, that the RealtyTrac Midyear 2013 Home Flipping Report named Port St. Lucie among the top 15 real estate metro markets in the country where someone can buy, renovate, and sell at a higher profit in about six months. The Palm Beach County movers have found that the city was one of seven in Florida to make the list.

On a national scale, home flipping is increasingly popular. National numbers show that that the amount of homes flipped in the first half of this year is up 19 percent over 2012, and up 74 percent over the same months of 2011. But all the news isn’t good news for flipping homes. 32 of the 100 markets analyzed have shown declining flipping numbers, even in big cities like Atlanta, Las Vegas, and parts of Southern California. Florida is booming with home renovations and subsequent sales, and as the market inventory runs low these flipped homes remain a huge lure for prospective buyers looking to buy in the region.

While commercial real estate was one of the hardest hit areas of the market when the recession hit, with rental rates dropping significantly in an attempt to lure tenants and compete with less expensive nearby vacant space. Where typical rents dipped about $10 from their average in the last two years, recent reports show that the rental rates are hitting an equilibrium now. Vacancy rates are at 20 percent, the same as last year, with nearby Broward County recording a 16.7 percent vacancy rate. The Wellington movers have found that in recent months, about a dozen upscale office buildings have hit the market for sale, as buyers who rode out the recession are ready to sell to new management.

Industry professionals suspect that there will be a strengthening of the local market which will result in higher rents and continually shrinking vacancies. Current building owners are under the impression that the properties can garner higher sell prices now before interest rates for lending go up.

The South Florida real estate market is hot, hot, and hot, thanks to competitive bids on a decreasing amount of available properties in the area. Lately, competing prospective buyers are boosting the value of homes–there simply aren’t enough available properties to meet the needs of consumers, and the trend is present from Palm Beach Country down through Miami-Dade County. The Jupiter local movers have found that the homes in the area priced in good condition with reasonable prices are quite likely to attract more than one offer.

So what’s the typical protocol in these situations? Sellers should not let offers sit longer than a week–even less time is recommended and preferred by many. This is because buyers can change their mind, plus it is inconsiderate to leave all prospective buyers waiting in limbo, since only one offer can finally be accepted. Factors to consider when buying and making an offer: the down payment, the timeline for closing, and of course, the overall price.