Strong Economic Growth for Boca Raton Leads to Robust Home Market

No matter where you go in Palm Beach County you'll notice there are several communities where there's strong economic growth. Boca Raton is home to five leading Fortune 500 companies that consider the Sunshine State ideal for growing their business. Home owners benefit from having stable economic foundations. The "proof is in the pudding" as we point out some solid facts that show why Boca Raton is the best town for investing this side of the Atlantic.

In a recent article found in Forbes Magazine, the writer reveals seven cities in the state of Florida as great investment markets. This is due to a healthy job sector along with population growth. Another factor is the anticipated home values. Because local economic health helps to drive housing supply and demand they claim these areas are ideal for investing. The writer also makes a point that Florida is one of the best cities for home ownership. Due to the state attracting people who are retired, who vacation or own secondary homes here, it creates a fair playground to spend on real estate.

Another citing of economic growth in our town was founded in Inc.500. They introduced a list of businesses with the highest sales growth who landed on their 26th issue. These businesses we are referring to are located right here in our own zip codes. The following are the companies that made it on the list:
- BSN who made it to no. 26 on the list reported $80.8 million dollars in sales by selling supplements.
- Host.net which is a technology company who helps to find solutions to data and CRM platforms.
- American Bancard has several products, but is mostly used for things such as merchant services and payroll.
- BMI Gaming is a company offering a full product line for arcades to pool halls.

One thing is certain, these types of organizations drive living in a place like Boca where there is a secure landscape for economic and job growth. But, why is that a concern for our luxury market owners?
A healthy housing market leads to higher home sales and housing prices. For people looking to sell their home or condominium, this could mean bigger profits. For those looking to sell their property, you may want to consider doing it soon before the 2016 election is complete.

Historically, many people become stagnant during an election. They are cautious for the first couple of months after a new commander in chief takes office. That being said the outcome of the housing market is unforeseen making it difficult to predict. A study done by Core Based Statistical Areas (CBSA) reports places like West Palm Beach, Boca and Delray to be one of the highest places for homes bought with cash this past year. The amount of homes purchased in these towns is at 52.3%. This area ranked 2nd for homes with cash sales to the winner, which was Detroit, Michigan at 53.4%. So, not only is Boca stellar for job markets, it's also a mecca for buying homes with cash. Of course with the heat in the market today, based on cash sales there maybe a few more hoops to jump through. Nonetheless, speak to your agent for more information about paying cash for luxury homes or property.

Next, let's discuss the low rates and their sustainability. Rates seem to maintain an all-time low on a national level. Even with a vulnerability of such things like Brexit where economists predicted an impact on the U.S. economy, no change has occurred. On the contrary, what we're seeing is the mortgage rates are near record lows at least until the next term. These are all fundamental points for a healthy housing market. Things such as job-income gains and demographics continue to push the housing market in a positive manner.

The Leading Index of Healthy Housing Markets reveals the U.S. housing market is sustainable even during slower household formations. They also predict most markets will see declines in the near term. Yet low rates are trending downward which will continue to boost the housing economy altogether.
What does all this mean? Whether you're looking to buy or sell the time is ideal. Especially if you're looking toward selling anywhere in the Palm Beach County areas. All indicators are pointing toward yes. Or so it seems. One thing is certain, there's benefits to both buyers and sellers within this region.
The report goes on to say job growth results in a rise in incomes. When people get a higher level of income there is also a demand for housing. This is yet another reason the city of Boca is attracting more businesses to come to the area.
The Business Development Board (BDB) is constantly looking for ways to attract, businesses for corporate relocation, expansions and international trade. That being said, they seem to be doing a fair job. They're creating more employment opportunities and getting the 9 million square feet of office space rented quickly.
The area is also captivating those looking to have top-notch office space with panoramic views of some A listed companies. Other than the incredible scenery, there's no corporate income tax for entities such as Chapter S corporations, partnerships, capitol stock and inventories. These benefits are especially luring to board members as well as CEO's.

Speaking of CEO's Boca offers a grand array of financial affairs. Because this is an area for affluent retirees, well-paid corporate execs and abundant successful businesses, it makes investing in housing even more prominent.
The other portion we're mentioning is that of our tourist industry. With places like the Boca Raton Resort & Spa hosting a multitude of events, the sandy beaches of the Atlantic Ocean and the many amenities this area has serious potential. No matter if you're into water sports, yachting and the like, there's no other place worth considering. Imagine inviting colleagues to dine with you on top of one of our penthouse condominiums such as those found in Mizner Grand. Or perhaps you'd like to be closing a big deal over a round of golf in your backyard? The possibilities are endless.
If you've been looking for a place where the annual average unemployment rate is low and the household income is over $50K, Boca Raton it is.

Whether you're looking to invest in a home or business property, drive around the city. Ask questions of the residents. Talk to the business owners and what you'll soon discover, not only does it make sense to visit a place like Boca Raton, it's worth investing here too!