Palm Beach is one good real estate investing area that’s still standing up against the so-called “national” trends.
Prices and sales are up, according to the Evans Report, written by real estate attorney Les Evans.
(His report is a goldmine of information because it also includes those private sales, conveniently left out of Multiple Listing).
And what about this?
The average price of a Palm Beach house went from $5 million to $5.22 million.
That’s a 14.6 percent increase over 2006.
And just what is it about their vacant lots?
I don’t know about you, but $20.8 million for 2 acres on S. Ocean Blvd. just sounds more intriguing, I reckon. As in “cha-ching, cha-ching”.
But here’s the thing.
As we’ve all known location does matter a lot in real estate [tag-self]investing[/tag-self].
Palm Beach has been the top spot on the map for the super rich forever and probably will be until the end of time.
As one banker told me a few years ago, “the rich little old ladies rule there.”
You go, girls.
And many of those little ladies of [tag-tec]Palm Beach[/tag-tec] continue to be very savvy real estate investors as the climbing prices prove.