While the Hamptons in the winter is magical with all the beautiful lights and decorations, it’s nice to break it up with a little sun and palm trees. If you are looking for that perfect no hassle vacation home in a full service building in Palm Beach, Hamptons Social spoke to Douglas Elliman agent Catherine Applegate about her impressive listing at the famous Biltmore. The modern apartment located at 150 Bradley Place mixes the luxury of modern amenities with the elegance of a historic architectural landmark. Applegate offered insight on Palm Beach real estate trends, where to buy the best values on the island, and how high interest rates have affected the sales market.
What style of home is trending in Palm Beach?
CATHERINE APPLEGATE: Move in ready! Palm Beach buyers want turnkey. (This has always been a trend) They want to do open the door, unpack their suitcase, and be ready to enjoy their new home!
Where are the best values on the island?
APPLEGATE: There are only 10 condos over 2000 sf in town right now and with its high ceilings, 906 at the Biltmore has 24,000 cubic feet giving you more space than others! There is value in the fact it is on the only 9th floor in town.
This condo is move in ready instead of waiting for the new developments across the bridge with these kind of views. An investment you can live in and enjoy right away has more value.
But sometimes to get the most for your money, I can help you find a property that needs renovation. You can’t always move in right away, however. It really depends on what you value more — time or money! My goal is to find you the home that works best for you taking into consideration what you value most.
How have high interest rates affected the sales market in Palm Beach?
APPLEGATE: Most buyers on Palm Beach are cash buyers but many have been thinking prices are going to go down and they should wait until rates go down . Actually, once rates go down, a home buying frenzy will begin from the pent up demand and prices will rise even more. There is less competition now and my company has a fantastic mortgage banker that will refinance once they go down. If you find the home you want, the best time to buy is now!
Is there a lot of inventory now in Palm Beach?
APPLEGATE: Although some inventory has been added, it is still low relative to other years.
Tell us about your latest listing. We saw the property and all you need is a toothbrush and you could move right in!
APPLEGATE: This property is in the famous Biltmore which has amenities like no other building on the island. There is a private beach club with dining, Har-tru tennis courts, Boat docks, heated Olympic size pool, black car & driver on staff, Infared saunas in locker rooms and 24/7 Doormen & security. It truly has everything you could want. The pool even has a view of the Intracoastal. This listing is the only apartment with triple exposures. You can see the Ocean to the east, Intracoastal on the west and Palm Beach Island to the South.
For those interested in viewing the property, click here for the listing and to contact Douglas Elliman agent Catherine Applegate
