On the Market: The Adlers’ 1924 Ocean-To-Lake Il Estate Transformed; Priced at $25M

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Il Sogno, Palm Beach

It can’t be helped. When you own a historic house, it comes with history.

And, sometimes, that history not only helps explain a house’s details but also provides insight into the people who put them there.

Take, for instance, Il Sogno, Catherine and Frederick Adler’s Mediterranean-style house that stands on an ocean-to-lake lot at 1520 S. Ocean Blvd. in Palm Beach. Franklyn Smith commissioned noted society architect Marion Sims Wyeth to build the home in 1924.

Read More (Palm Beach Daily News)

The Evans Report: Town of Palm Beach Sees Increase in Total Dollar Sales Volume

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Town-wide, total dollar sales volume of single-family homes and condos/co-ops increased $73,988,994 (+10.86%) from $680,942,681 in 2010 to $754,931,675 in 2011, according to The Evans Report: Fourth Quarter 2011, which includes the 2011 year-end review.

Read More (The Evans Report News)

Barron’s PENTA Magazine Ranks Second Homes in the US

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Residents of the Town of Palm Beach joke that you never realize how young you are, or how poor, until you visit Palm Beach.  Barron’s PENTA magazine ranks the Town of Palm Beach at 15th in their 20 Best Places For Second Homes article this March.

Brokers tell PENTA that houses not moving tend to have poor layouts or generally need work or are often sandwiched by developments or neighbors in bankruptcy or foreclosure. No fixer-uppers, thank you. The theme these days is “location, quality/condition, location.”

Town of Palm Beach
Median Price 2010: $2.7 million
Median Price 2011: $2.58 million

Read the article (Barron’s Penta)

China Targets Florida, NY Residential Markets

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New York and South Florida’s residential market was buoyed by an influx of foreigners last year. But a new player could be emerging from the Far East: China.

“Although [South Florida is] a long way from China, we have become very trendy, and we’re on the trendy map,” Realtor Jeanne Nicastri said.

Read More (The Real Deal)

The market isn’t booming – 
it’s more like ‘Walmart for the super-wealthy,’ an expert says.

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High-end homes are selling again, thanks to a resurgent stock market, falling prices and the growing realization that the once-shaky economy has stabilized.

But don’t call it a boom. In contrast with the mansion-buying frenzy that peaked in 2008, shoppers this time around are driving hard bargains.

Palm Beach County had 517 sales of houses and condos for $1 million or more in the first nine months of 2010, up 13 percent from 457 transactions during the same period in 2009, according to the county property appraiser.

Read More (Palm Beach Post)

Home Prices in the Town of Palm Beach Jump 22 Percent

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Home prices may have fallen across Palm Beach County in the third quarter, but the mansions in Palm Beach did just fine.

The median price on the island hit $2.775 million in the July-to-September period, up 22 percent from a year ago, according to The Evans Report, an analysis by Palm Beach lawyer Leslie Evans.

Read More (Sun-Sentinel)

 

On the Market: Classical English Bermuda-style home offers ‘clean and simple’ look, water views and tunnel to ocean

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A new look and a younger feeling that’s what builder Paul Wittmann and interior decorator Jack Fhillips had in mind for Wittmann Building Corp.’s latest high-end oceanfront “spec” home at 102 Banyan Road.

“When my partner, Peter Callahan, and I purchased the property, we wanted to create a fresh, clean and crisp look,” Wittmann says.

While researching, he came across a photograph of Rosedon, a small boutique hotel in Bermuda that had once been a private residence.

“It was striking — painted white with white roof and blue shutters and awnings,” Wittmann says. “I gave the photo to Michael Perry of MP Design & Architecture and said, ‘Give me this to build.’”

Read More (Palm Beach Daily News)

Wealth Gravitates to Wealth. Palm Beach Ranked as Nation’s Top Zip Code

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Rich people like living around other rich people. Palm Beach is the top zip code according to the Gadberry Group. The study ranked average income and household net worth.

Read More (Bloomberg BusinessWeek)

Midtown Palm Beach Home Sells for $4.25 Million

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The home at 161 Clarke Ave. Palm Beach has just been sold for $4.25 million. It was originally listed for $6 million and later dropped to $5.45 million.

The property is just down the street from Midtown beach. Architect Marion Sims Wyeth designed the 1968 house.

Read More (Palm Beach Daily News)

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