Opportunity Knocks... What to Make of the Surge in the Palm Beach Real Estate Market
Updated: Jun 19, 2020
Here we are "off season" in June, continuing to navigate the instability of a national pandemic, yet the Palm Beach area real estate market shows little indication of slowing its continued surge. Knocking on the door, in the current market's extreme resilience, is opportunity opportunity, opportunity... In order to make sense of these favorable circumstances, the Coudert Institute recruited four local experts to share what they're witnessing on the frontlines of the market's swell and to offer some counsel on seizing the moment. In a new episode of our ongoing GARDEN CHATS series, we are delighted to present Senior Relationship Manager Bill Benjamin of First Republic Bank, Cara Coniglio McClure of the Palm Beach office of Douglas Elliman, real estate attorney David Currie of Diamond & Kaplan and Linda R. Olsson of Linda R. Olsson, Inc., in conversation with Coudert Institute Founder, Dale Coudert.
"It is a missed opportunity not to list and cast a broad net to the multitude of anxious buyers combing the internet for a home right now."
The residential market's resilience, especially, has local agents digging deep to meet the wave of buyers hoping to call Palm Beach and West Palm Beach "home". "We are seeing historically low inventory paired with skyrocketing demand," reports Ms. Coniglio McClure. "If a homeowner is considering selling their home, it is a missed opportunity not to list and cast a broad net to the multitude of anxious buyers combing the internet for a home right now." Quality of life, safety, sophistication, climate and that island lifestyle that only Palm Beach can offer are what buyers are seeking at the moment, and she attributes these factors as the driving force behind the market's upswing.
Financing, both commercial and residential, is also holding a strong place in this current market, according to Mr. Benjamin of First Republic Bank. He is lending "lots" these days. "The market was already strong, prior to the pandemic, and on the lending side of things we continue to see a steady increase. Whether it's new people to the market, with purchase financing, or people taking advantage of the great rates we're seeing in this environment right now, we're seeing just consistent deal flow." The Coudert Institute is beyond grateful to Mr. Benjamin and to the full panel of local real estate professionals for sharing their time and expertise to this programming. In concert, they offer a real time glimpse of a moment ripe with investment and other opportunities!
Watch the full Opportunity Knocks GARDEN CHATS episode through the above, or by by clicking HERE.