Old Palm News - Robust sales in Old Palm reflect the improving housing market

Robust sales in Old Palm reflect the improving housing market

July 04, 2012

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The housing market is showing signs of steady revitalization throughout Palm Beach County, according to the Realtors® Association of the Palm Beaches. Real estate prices have stabilized, if not increased. Housing starts have risen 22% from a year ago, and single-family home sales continue to surge. Old Palm Golf Club is riding high on the wave of buyer confidence. Sales are excellent and have been for quite some time. Model homes often sell shortly after opening. Home sites are also in demand, so much so that Old Palm recently had to release a collection of previously unavailable lots in the Golf Estates to meet the ever-increasing interest in the community. In addition, numerous new homes are under construction in all three Old Palm neighborhoods, a welcome sign that Old Palm has an ideal luxury home for every sort of buyer. “Sales are strong across the board,” says Connie McGinnis, Director of Sales. “The message is clear—if you want to live in Old Palm, now is the perfect time to make your move.” In the Golf Estates, where homes range from 3,400 to 5,000 square feet, Mustapick Estate Homes quickly sold its first Monaco and Marseilles models and is now building two more in the neighborhood. For buyers seeking something similar but different, Mustapick designed a brand-new British Colonial-style model called the Martinique, which features abundant shutters and French doors. It makes for an ideal golf cottage or weekend getaway home and can be built on a preserve lot, starting at $315,000. In the last few weeks alone, yet another model home sold in Old Palm’s Grand Estates neighborhood. The Ashford by Hasey Construction boasts a magnificent 6,394-square-foot layout with five bedrooms, six full and two half baths, a club room and a loft on the partial second floor that can be reached by stairs or elevator. With the pool directly behind the living room and an open cabana just beyond the pool, the look is classic Palm Beach. In addition, Hasey will soon start construction on another home in the Grand Estates. The buyers just closed on the home site, and details of their custom home are being finalized. Sales are also brisk in Old Palm’s extraordinary Custom Estates neighborhood, where the homes range from 7,000 to more than 15,000 square feet.  The home sites average one full acre; all of them with a golf course, water or preserve view. Dreamstar Custom Homes is currently incorporating specifications from the new owners’ into one of its Tuscan designs in the neighborhood, a sprawling one-story residence that will overlook the 16th green of Old Palm’s spectacular Raymond Floyd-designed golf course. The home will feature five bedrooms, seven full and one half bath, and numerous green elements such as hot water on demand, variable-speed air-conditioning systems and reclaimed brick from New Orleans. Couture Lifestyle Homes is also building a spectacular home in the Custom Estates on a magnificent one-acre home site. It’s exceptionally private as it sits at the end of a cul-de-sac with preserve views on two sides. Designed to take full advantage of the setting, the one-story estate home has plenty of windows and sliding glass doors in the family room that pocket, resulting in a seamless flow between the indoors and outdoors. The largest home under construction in the neighborhood belongs to Hasey Construction, which has designed an extraordinary British West Indies-style estate called the Montserrat. Sprawling over 9,438 square feet, it boasts five bedrooms, seven full and one half bath, a breathtaking two-story rotunda, a second-floor deck with covered lanais, an interior water feature, and an ambiance reminiscent of the grandest colonial homes in the Caribbean. To maximize its magnificent setting on the 14th hole of Old Palm’s golf course, the Montserrat features pocket sliding doors, which seamlessly blend the indoors and the outdoors. “We were always confident that when the market started to recover, Old Palm would be among the most highly sought after private Club communities” says McGinnis, “That day has come, and as expected sales have taken off.”

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