When you are looking through the Palm Aire listings you may notice a wide discrepancy in prices for what appears to be similar units. There are several other factors that affect the market prices. Many buildings have rental restrictions and minimum down payment requirements of 20% of the purchase price. Almost all units have a golf course views. Some better than others. And of course the condition of the unit will also affect the price.

First a little background and history. Palm Aire County Club has approximately 3500 units. There are 13 different condo associations and well over 100 buildings. Palm Aire was built in stages beginning in the late 1960’s through the mid 1980’s. Actually one building was completed in 2006. It is called Royal Point. There was supposed to be several building in the project, but it was cut short because of market conditions. The land that project was to occupy will eventually become a park located at W. Palm Aire Dr and Oaks Clubhouse Dr.

The original buildings were built around the Palms and Pines golf courses on N Palm Aire Dr, South Palm Aire Dr, North Course Dr and South Course Dr. They have coin operated washers and dryers near the elevators. These buildings are limited to six floors. Later the Oaks and Cypress Course were built and more condos along the fairways came. These "newer buildings" west of the Cypress Creek tend to have slightly more living area and have washer and dryer hook-ups in the units themselves. You will notice quite a big difference in price just for the convenience of having a washer and dryer inside your condo. The two bedroom units are roughly the same size as the originals. However, some buildings added “King” models that are 20% larger. The newer buildings also have some split bedroom floor plans and up to 10 floors, so the views are better.

Because these condos are now about 40 years old the condition of the interiors also vary widely. It’s possible to walk into what I call a Time Capsule. A unit that hasn’t changed or been updated since it was bought back when man first walked on the moon and the Mets were amazing. On the opposite end of the spectrum there are units that have been converted into mini palaces with new marble floors and beautifully updated kitchens and baths. Some to the point of being over-improved, meaning the owners won’t get back what they put into into them in improvements. At the height of the market some of these units were listed for close to $400,000. That seems laughable now. These days it is rare to see a condo sell for more than $200,000. Most of the buildings have pet restrictions, but a few buildings do not. Those that do, are mostly found on Cypress Grove Dr. You will end up paying a premium to live in those pet friendly buildings.

There are a couple of complexes nearby that have Palm Aire in their name that are not part of the golf course development. They are Palm Aire Gardens, which was a condo conversion project and the Gardens at Palm Aire, also known as Gardens North.

If condos don’t appeal to you perhaps a Villa or Townhouse will. Among those options are Fairview Pointe which is a gated townhouse community on W Palm Aire Dr. About half of them have golf course views. Lately they have been selling in the mid $200s.

Palm Aire has become ridiculously cheap. Prices have dropped by 60% or more from the peak and well below replacement value. It's also a great value because unlike many condo communities the number of foreclosures are relatively low so its financial condition is stable. Its is centrally located just 20 minutes from the airport, a few miles to the beaches and walking distance to the Isle Casino

 You can see recent sales data by following this link. The Palm Aire communty now has a Facebook Page. Be a fan today.

Tom Day, Remax in Motion

www.TomDayProperties.com