Eighteen homes sold in Boca Woods for the first half of 2018, while Stonebridge saw eleven transactions. The mandatory membership golf club communities have seen home prices challenged by a high volume of homes listed and a limited number of buyers. Despite that the news in the first half of 2018 looks good for home sellers.
Boca Woods
The high price last year in Boca Woods was $410,000 and that was topped by two sales. 10842 Pine Bark Lane went for $450,000, while 11391 Boca Woods Lane got $430,000. On the downside four homes sold in a low range from $110,000 to $125,000. Three houses sold in the low $300s from $315K to $330K. Most of the lower priced homes are around 2000 square feet, while those over $250,000 were all 2800 square feet or larger.
Despite the saturation problem (currently 40 homes listed for sale), prices appear to have risen both on the high end and the low end.
Stonebridge
With 35 homes listed Stonebridge is still a buyer’s market. Two houses sold for $95,000, both lower than the 2017 low of $102,500. Three houses sold over $450K, but no others over $370K. The top price was $490,000 for 10818 Ashmont Drive, with 3 bedrooms and 4 baths in nearly 3600 square feet.
The best buyer’s bargain was 10578 Stonebridge Boulevard, with over 3500 square feet selling for just $255,000.
In 2017 there were 5 sales over $400k with two all the way up at $495K. There’s half a year to go for 2018 so there’s hope that there will be more sales in the high 400s or even one breaking the $500K mark. Three of the homes listed are asking for prices above $600K. Boca Woods home sellers are less ambitious with none listed over $500K.
Sandalfoot Cove is one of a few “census designated places” in West Boca, and has its own Wikipedia page.
Sandalfoot Cove; image and map data by Google.
Single Family Homes
Single family homes had the largest number of transactions and of course the highest prices. 77 houses sold in the first half of 2018 (through June 29th). Only one sold under $200,000 and it was listed as a “handyman special.”
Boca Rio Heights dominated the high end with the top five prices including two houses selling over $500K and three more over $400K, all on Martella.
22491 Martella Avenue sold for $560,000 in only 6 days with 4 bedrooms, 2 1/2 baths and 2400 square feet on a cul de sac lot. Image by Google.
One other house, in Trends, broke the $400K line with 23131 Sunfield Drive selling for $415,000. Over $350K we see one more home in Trends, one in Boca Trace, and two in Crescent Lakes. There were a few other transactions in Crescent Lakes, which is a hidden gem.
Crescent Lakes entrance; image by Google.23180 Bentley Place in Trends sold for $317,000 with only 1230 square feet.
There was a bunch of transactions right around $300,000 with 11 homes selling from $298K to $302K including Country Park, Boca Barwood and various sections of unspecified Sandalfoot Cove. Another 22 houses sold from $250K to $295K. 12 more sold under $250K with several of those in Country Park as well.
Call or text Warren at 518-225-3710 for help buying and selling homes in West Boca.
Townhomes and Villas
For homes listed in the MLS as townhomes or villas we see 61 transactions. On the map we see three clusters.
One large townhome in Addison Lakes sold for $320,000, the only one over $275K. Three sold in River Oaks and Royal Woods in the low 270s. Only 16 townhomes sold for less than $200,000. Four units sold for under $150K, three of them in Village Green.
The categorization of homes (condo, townhome, villa, and even single family) can be misleading. We see several homes in the data that are incorrectly listed in the wrong categories, and did our best to correct for those errors.
Condos
72 homes listed as condos in the MLS sold, all west of Lyons Road. Communities include Boca Barwood, Edgewood, Isle of Sandalfoot, Boca Cove and more. The highest prices were in Royal Woods selling as high as $250,000, but these look more like townhomes. The vast majority of sales were for prices below $180,000. Eleven condos sold for under $100K. The lowest prices were three condos in Sandalfoot South selling for under $80,000.
Mobile Homes
There’s a small section of mobile homes in Sandalfoot Cove near SW 18th and 441.
10 mobile homes sold in the first half of 2018. Five of them sold for prices above $150,000, while only one sold for less than $100K.
South entrance to Century Village Boca; image by Google.
Homes are selling well in Century Village this year, with nearly 200 transactions from January 1st through today. Prices are up a little compared to what we saw there in 2017.
While they are getting good prices they aren’t selling that fast. The average unit sold in two months, which is slow for this price level. That is probably due to high inventory, with 163 homes currently listed.
4 Story Buildings
The 4-story buildings in the center of the complex are doing particularly well, with the average price topping $100,000. For those 93 homes the average price was $104,000 on an average size of just over 910 square feet. Three units sold for over $200,000 including 2075 Yarmouth D at $275,000 for 2 bedrooms and 2 baths in nearly 1600 square feet. It’s a startling price because the unit doesn’t even appear to have been recently remodeled, but it is the largest unit we’ve seen.
In the same building 4066 Yarmouth D sold for $260,000 with just under 1400 square feet, again a larger than typical unit without much remodeling.
The biggest price per square foot goes to 4037 Ainslie C which sold for $230,000 with only 1032 square feet with nicely remodeled kitchen and bathrooms.
Buildings in Ainslie and Yarmouth are close to the synagogues allowing religious Jewish residents to walk more easily on the Sabbath. This drives up prices similar to what the new Chabad is doing in Boca Greens.
A total of 39 units in the 4-story buildings sold for prices of $100K or higher. There are still bargains to be had, with more units selling for less than $100K including thirteen that sold for $60K or less. Four of those were bank-owned.
Satellite image of Century Village Boca. Image and map data by Google.
3 Story Buildings
In the 3-story buildings the average transaction was $56,000 for 760 square feet. Three of the units sold for over $100,000 with 452 Fanshaw K snatching the biggest number at $110,000, which was remodeled with high-end finishes in the kitchen and baths. Everything that sold for over $65,000 were 2 bedroom 1 1/2 bath units with 835 square feet.
243 Dorset F sold for $105,000 and followed a trend we’ve noticed in remodeling these units, opening up the space by removing some or all of the wall between the kitchen and family room.
20 units sold for $40,000 or less, two of them bank-owned. All units that sold for $45,000 or less were 1 bedroom models ranging from 600 to 715 square feet.
Rentals
As expected the rental market remains active with 51 units currently listed for rent on the MLS. 115 rentals closed since the beginning of the year, not surprisingly lower than the 151 in the fall. We believe many units are also rented outside the MLS system.
For the east side of 441 between Spanish Isles (Saddlebrook) and Olympic Heights High (Boca Fontana), fifty-eight single family homes sold in the first half of 2018. There were also 14 villas sold in Town Villas and 2 townhomes sold in Boca Fontana. This is our first mid-year report and is based on data through June 26th.
Neighborhoods in this report. Image and map data by Google.
Boca Landings
At the high end two single family homes in Boca Landings North sold for just over $500,000.
9701 Enchanted Pointe Lane sold for $510,000. Image by Google.
Six more houses sold in Boca Landings North for prices of $420,000 or higher, mostly with 4-bedrooms and around 2400 square feet.
Seventeen more houses sold in the rest of Boca Landings (aka Weitzer). At the lower end six of them sold for under $300,000 including a 3-bedroom on Cloud Lake Circle for only $232,000. These are mostly smaller models with some as small as 1100 square feet. On the good news side for homeowners several sold higher with most going for over $300,000 and many over $350K. A particularly odd sale was 9590 Islamorada Terrace. This bank-owned home sold for $410,000 with 4 bedrooms in only 2000 square feet with some minor remodeling. The sale price was $25,000 higher than the list price. It’s a nice cul de sac lot with a lake view but it looks like the buyers overpaid on that one.
Are you thinking about putting your house up for sale? If so, you might want to take a look at some of the resources on the House Buyers of America website. There is a lot to think about when deciding to sell your property, and therefore it is vital that you do as much research as possible to ensure that your house is sold at the best possible price.
Southwind Lakes – American Homes
The largest number of transactions was in Southwind Lakes (American Homes) with a total of 23 closed sales. The highest price was $410,000 for 9539 Newport Road, a 4-bedroom house with 1900 square feet. That house was nicely remodeled and has a pool with a lake view and a tiki hut.
Some prices were much lower, as low as $245,000 for a smaller 1300 square foot house, and a bank-owned home (REO) selling for $242K. Eleven of the transactions were below $300K. But some smaller homes sold for fairly big prices. 19489 Colorado Circle is a 3-bedroom with under 1150 square feet and it sold for $334,000. Similarly the 1400 square foot 3-bedroom at 19095 Winslow Terrace sold for $354,000.
Saddlebrook
Eight houses old in Saddlebrook so far this year, all smaller homes from 1300 to 1600 square feet. Five of them sold for over $300K. The highest price was 9080 Saddlecreek Drive at $320,000 with 4 bedrooms and 2 baths in 1600 square feet, selling just 2 days after it was listed. At the bottom was 18428 Alydar Way for $235,000 with 3 bedrooms in 1300 square feet.
Town Villas
Fourteen villas sold in Town Villas, all of them 2-bedroom, 2-bath models with around 1200 square feet. Prices ranged from a low of $89,000 up to $222,000. At the top, five homes sold from $195K to $222K. The $89K low price was unusual, with the next lowest at $140,000 and everything else going for $150,000 or more.
Boca Fontana
Two townhomes sold in Boca Fontana (Casa Sul Lago), one for $275K and the other for $300K. Both have 3 bedroom and 2 1/2 baths.
There were also two single family home sales in Boca Fontana. 9304 Neptunes Basin Court sold for $410,000 with 3 bedrooms in 1800 square feet. The larger 9676 Triton Court sold for $345,000 with 4 bedrooms in 2000 square feet.
Coach Lane Kiffin and FAU are both pretending that his new contract will keep him at FAU for the long haul. The details of that contract have now been released and it shows the lie.
The contract purports to be a 10-year deal. Kiffin will earn a base salary of $950,000 a year. There are some other incentives and perks that add value, but they’re small potatoes compared to the salary and to what top college football coaches earn. Several coaches earn over $5M a year and Nick Saban gets over $11M from Alabama.
Kiffin is at FAU arguably because his somewhat controversial history made it difficult for him to get a job with a top team. See for example Fox Sports. He’s really at FAU to put in a few years demonstrating his competence (he is undeniably a brilliant coach) and stability until a top team is ready for him and needs him.
That’s where the buyout clause in his contract comes in. While it’s ostensibly a 10-year deal, Kiffin can leave at no cost starting January 1, 2022, six years before the end of the contract. If he leaves earlier there’s are set buyout amounts ranging from $2M if he leaves before the end of 2018 down to $500K if he leaves during the 2021 calendar year. Oddly the buyout amounts are cut in half if University President John Kelly stops serving in that “capacity” at any time during the term of the contract.
The Kiffin FAU buyout clause, from pages 11-12 of the contract.
As a side note, the wording of that part about the University President creates some big potential loopholes. If Kelly takes a sabbatical or a brief leave of absence, does that trigger the reduction? If he leaves the position after Kiffin quits, could Kiffin claw back half of whatever he paid?
If a major college football (or NFL) team decides they want Kiffin and are ready to pay him $5M or more, the $1.5M (2019) or $1M (2020) buyout price will be a trivial extra cost. This 10-year contract does little to keep Kiffin in Boca for any longer than the time it will take him to rehabilitate his reputation.
We hope we are wrong. We would love it if Kiffin would stay at FAU. He’s great for the team, for the university and for the community. But the reality is he’ll be gone by the end of 2020.
