Palm Beach County Real Estate Market Report – August 2024

 

Palm Beach County Market Report – August 2024

The past month has brought significant changes to the real estate industry nationwide. With the implementation of the new “settlement agreement” regulations, buyers are now required to sign a Buyer’s Broker Agreement before viewing any properties. Additionally, agents can no longer advertise the compensation offered to a buyer’s broker in the MLS. While these changes haven’t been as disruptive as initially anticipated, I believe they are just the beginning of a broader transformation in how we conduct our business. 

Personally, I have strong opinions about the settlement’s impact on both sellers and buyers, and I believe it has introduced challenges for everyone involved. However, one positive outcome is the heightened emphasis on a Realtor’s knowledge, professionalism, and expertise. Over the past decade, we’ve seen a surge in individuals obtaining real estate licenses, yet only a smaller, dedicated group has managed to turn it into a full-time career. 

Given these developments, it’s no surprise that local agents have mixed opinions about the current market’s strength. Some feel it’s a feast or famine situation. Those who anticipated these changes stayed consistent with their marketing efforts, budgeted wisely to invest in their listings, and continually educated themselves and have positioned themselves well for both the present and future. 

In our local Palm Beach market, price sensitivity is at an all-time high, regardless of the price point. Many sellers still believe in listing high with the expectation that someone will make an offer, leading to negotiations. However, with inventory rising across all categories, there is increased competition, and buyers simply won’t engage if they perceive a property to be overpriced. 

Inventory levels have risen in nearly every price bracket, with the luxury market now seeing almost two additional months of inventory, tipping it back to a buyer’s market. Strategic pricing is crucial to attracting buyers. Equally important is ensuring your home shows well, your agent effectively highlights its attributes and everyone involved is performing at their best during showings and open houses. 

Whether you are a buyer or a seller your real estate partner matters more than ever. For those of us who understood what was coming we are ready! 

Amy Snook

Delray Beach – Atlantic Ave Living!

✨RARE opportunity to work AND live a vibrant lifestyle directly on Atlantic Avenue!✨

🌟 This spacious 3-bedroom, 2 ½ bathroom walkup condo feels like a single-family home! Perfect for those who want to combine their home and office in one optimal space.

🚶‍♂️No need for a car! Step outside to enjoy top spots like CUT 432, Lemongrass, Winehouse Kitchen, boutique shopping, art galleries, and the Green Market. Festivals and all the best of East Delray are at your fingertips.

🌴 Experience the best in downtown living in Paradise! 🏖️

📍419 E Atlantic Ave, Delray Beach

Call us with any questions! 📲 561-571-2289
Amy Snook and Noreen Payne
Amy & Noreen Team of Lang Realty

Past Corporate Colleagues to the Present Amy and Noreen Team of Lang Realty

Noreen Payne and Amy Stark Snook are well known around town. You can find them showing properties in Delray Beach and surrounding Southern Palm Beach neighborhoods, dining and shopping along Atlantic Avenue, networking at the Chamber of Commerce, and giving back at many local charitable events.

While many may know their name, many may not know that they are a powerhouse female real estate team that supports the local community, their clients and new realtors.

“Being involved isn’t just about giving back; it’s about building a stronger, more connected Delray Beach,” said Noreen. “Through our engagement with local nonprofits and organizations, we not only make a positive impact, but also forge lasting relationships that benefit our clients and the community as a whole.”

“We service our clients and keep them informed throughout the process. Our clients are excited to refer us. The recipe of success relates to a balance of work, life and giving back,” said Amy.

With over 20 years of real estate experience at your disposal, the Amy and Noreen Team at Lang Realty pride themselves on providing clients with a stress-free real estate experience, every step of the way. They have helped their clients navigate the real estate market throughout Palm Beach County.

Noreen and Amy collaborated successfully in Corporate America 27 years ago, where they both received training under a shared corporate culture. This training instilled in them similar values, work ethic, professionalism, and sales/service etiquette, providing a strong foundation for their careers. Reuniting in the real estate industry was a natural fit for Noreen and Amy, allowing them to leverage their complementary skill sets to deliver ideal solutions for their clients

Although Noreen and Amy can perform each other’s roles interchangeably, they collaborate to strategically divide tasks and maximize efficiency in their work. Amy, with her analytical mindset, thrives on analyzing listings, pricing, and negotiating contracts to successful closings. Noreen excels in matching buyers with their ideal homes, leveraging her deep knowledge of the area and various communities. She also specializes in marketing and showcasing the team’s listings effectively to potential buyers. Together, they develop comprehensive marketing strategies to showcase their listings and provide exceptional service to clients.

Noreen is deeply committed to the local community, actively involved in leadership roles within several local non-profit organizations including The Greater Delray Beach Chamber of Commerce, The Achievement Center for Children & Families, Impact 100 PBC, and the Business Development Board of Palm Beach. She maintains strong relationships within the community, leveraging her network for the benefit of clients.

Meanwhile, Amy dedicates her time to the real estate industry, serving in various capacities within Florida Realtors and the Women’s Council of Realtors. Her involvement allows her to stay informed about industry trends and best practices, ultimately benefiting the clients we serve. Additionally, Amy co-chairs Lang’s Community Outreach committee under the Lang Cares program which focuses on supporting those at risk within the communities.

Led by Amy and Noreen with their strong corporate background, industry knowledge and community involvement, the team has grown to include Paige Mercado, the Team Support Specialist and dynamic newer agent Namrata Israni. Together they make up The Amy and Noreen Team.

Lang Realty and our Broker, Scott Agran, are committed to the success of every agent within the brokerage. The leadership team at Lang, along with the administrative support team, dedicate their efforts to providing cutting-edge tools and resources for effectively marketing and selling our listings.

Amy serves as one of the Assistant Managers at Lang and is privileged to participate in the weekly leadership meetings. This firsthand involvement allows her to witness the dedication of Lang Realty in ensuring its agents thrive and stand out in the industry. The culture at Lang Realty is characterized by strong support and camaraderie among team members. Despite being a large Palm Beach-based company, Lang fosters a more intimate and close-knit setting or culture. This unique combination allows for a supportive environment where individuals feel valued and connected.

One notable aspect of Lang’s culture is its agility. Despite its size, Lang can quickly implement new ideas, innovations, and strategies. This nimbleness enables the company to adapt swiftly to market changes and continuously improve services for agents and clients alike. The culture at Lang embraces creativity, collaboration, and responsiveness, fostering an environment where individuals can thrive and contribute to the company’s success.

Amy and Noreen treat their clients like friends and their business focuses on their relationships with their clients.

Their clients praise them for helping them with all their real estate questions.

“Above the rest and beyond the best! That was our experience with the Amy and Noreen Team. Buying and selling a home at the same time can be beyond stressful, but Amy and Noreen made the whole process an absolute breeze! Their team was on top of everything, every single step of the way. They went above and beyond in every aspect to ensure outstanding results. Their level of professionalism, knowledge and expertise cannot be overstated. They are top-notch, and we could not be happier that we chose them. We highly recommend The Amy & Noreen Team to anyone buying or selling a home!” stated a happy client.

Another client stated, “Amy Snook and Noreen Payne are very experienced in their communication skills, their marketing strategies and are anticipatory of the expectations of the potential buy-ers. Both are very professional and knowledgeable. I get updated all the time about viewings, comments and offers from buyers. I highly recommend Amy and Noreen for their excellent work in the real estate business.”

702 Gardenia Terrace, Delray Beach – Lake Ida

Discover the charm of our newest listing in Delray Beach, where architectural elegance meets Lake Ida serenity.☀️💎 Come explore the unique design features that make this home truly special!💫🏠

Meat Market, Boca Raton Hot Spot

Sizzling vibes and succulent food at one of our favorite hot spots in Boca Raton, Meat Market!🥩🔥 Great happy hour options daily from 3-6PM, outdoor bliss and indoor charm – because life is too short for ordinary dining🍴✨
📍 Meat Market – 2000 NW 19th St, Boca Raton