Waterfront Properties Happy with Latest Trend in Home-Price Index

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The closely watched statistic recorded its highest increase since 2006.

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Waterfront Properties and Club Communities’ real-estate agents have seen their listings improve in value as their clients recapture confidence in the marketplace.

The CoreLogic Home Price Index rang in the new year with a chart-topping report that showed home prices spiked again for the ninth straight month.

According to the report, home prices shot up 7.4 percent from November of 2011, to November of 2012, the latest period for which statistics are available. Not only was the increase the ninth in a row, it also was the biggest gain since 2006. The month-over-month home-price index also was up – 0.3 percent.

Waterfront Properties and Club Communities’ real-estate agents have seen their listings improve in value as their clients recapture confidence in the marketplace. Between Jan. 31 and Feb. 2, 2013, Waterfront Properties’ agents have closed on a handful of transactions ranging from upward of $500,000 to nearly $1.4 million. Among the transactions was one of the beautiful Sewall’s Point homes for sale on the St. Lucie River.

While the numbers are not yet out, CoreLogic predicts a good start to 2013. Mark Fleming, CoreLogic’s chief economist, said home prices will remain strong, through at least the first quarter. Anand Nallathambi, CoreLogic’s president and CEO, took Fleming’s optimism a step further and said home prices definitely will appreciate as the year progresses.

The positive outlook is shared by economists all over the country who responded to a survey facilitated by Zillow and Pulsenomics. The survey included opinions from 96 respondents, the majority of whom said home prices will stay on an upward ride this year. Their numbers average out to a median of a 3-percent gain in 2013, and a 23-percent gain through 2017.

One of the economists, Joel Naroff, president of Naroff Economic Advisors, said the year will bring a 7.2-percent increase in the price of a home. Naroff is one of 89 economists among those surveyed to predict gains.

The trend the CoreLogic Home Price Index is taking, as well as the rose-colored-glasses views from economists, are buoying southeast Florida real estate and are welcome news at Waterfront Properties. The Jupiter-based, family-owned brokerage offers some of the finest property available in northern Palm Beach and southern Martin counties, and its licensed Realtors provide stylized concierge service.

The company specializes in Jupiter homes for sale, including Admiral’s Cove, which offers deep-water-dockage, access to the Intracoastal Waterway and an amenity-rich clubhouse that recently underwent millions of dollars’ worth of renovations. The private development is off Alternate A1A in an ideal location convenient to both the beach and the airport.

For information about Admiral’s Cove, or any other property in northern Palm Beach County, call 561-746-7272.

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Rob Thomson
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