If you need assistance, please call 754-581-5077

Mortgage | Dave Magua Group Blog

Wednesday, March 15, 2023   /   by Dave Magua

TPA pays $36M for Industrial Dev Site in Palm Beach County

TPA Group bought an industrial development site west of Loxahatchee Groves for $36 million. 
The Atlanta-based firm bought nearly 60 acres of land at 20305 State Road 80, in an unincorporated area of west Palm Beach County, from an affiliate of mining company Palm Beach Aggregates, according to records and real estate database Vizzda. TPA took out a $10 million loan from the seller. 


The purchase breaks down to nearly $603,000 per acre. 
TPA also has the right of first refusal to purchase another 37 acres nearby, according to records.
Palm Beach Aggregates is a mining company that also has interests in waste wood processing and owns land leased for sugar cane growing, its website shows. The firm, based in Palm Beach County and led by Enrique Tomeu, mines aggregate source material that’s used in construction.
In 2019, Palm Beach Aggregates filed an application to the county for an industrial project on 138 acres, including the land that traded. It would hav ...

  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, palm beach, sell my property, jupiter, mortgage, jupiter farms, #newconstruction

Wednesday, January 11, 2023   /   by Dave Magua

Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market

Instead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management customers and borrowers in minority communities, CNBC has learned.
As part of its retrenchment, Wells Fargo is also shuttering its correspondent business that buys loans made by third-party lenders and “significantly” shrinking its mortgage-servicing portfolio through asset sales.
Altogether, the shift will result in a fresh round of layoffs for the bank’s mortgage operations, executives acknowledged, but they declined to quantify exactly how many jobs will be lost.

Wells Fargo is stepping back from the multitrillion-dollar market for U.S. mortgages amid regulatory pressure and the impact of higher interest rates.
Instead of its previous goal of reaching as many Americans as possible, the company will now focus on home loans for existing bank and wealth management customers and borrowers in minority commu ...

  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, mortgage, cnbc

Thursday, January 5, 2023   /   by Dave Magua

Here are South Florida’s 10 priciest resi deals of 2022

South Florida’s residential market may have slowed in 2022, but trophy mansions remained a hot commodity. From Larry Ellison to Ken Griffin, billionaires kept on buying in South Florida, setting records for single-family home and condo sales across Miami-Dade, Broward and Palm Beach counties.

The top 10 deals ranged from a princess’ $45 million sale of her waterfront Palm Beach home to the $173 million trade of a 16-acre compound in Manalapan, a wealthy enclave north of Delray Beach.


Properties in Palm Beach, where inventory remains tight and pricing high, dominated The Real Deal’s ranking, which is based on property records and the Multiple Listing Service. A select few agents also participated in most of the deals, including Lawrence Moens and Christian Angle.

These were the 10 priciest home sales recorded in South Florida this year:

Larry Ellison drops $173M on Manalapan estate

In June, Larry Ellison, the billionaire co-founder s ...

  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, broward county, palm beach, jupiter, mortgage, brickell, football, miami, patriots, spring

Wednesday, December 28, 2022   /   by Dave Magua

Kolter nabs $240M construction loan for Fort Lauderdale condo towers

Kolter Urban started building Selene Oceanfront Residences, after scoring a $240 million construction loan for the pair of condominium towers that will be the tallest along Fort Lauderdale’s oceanfront.

The firm is developing the 26-story buildings, with 194 units combined, at 3000 Alhambra Street. Wells Fargo, as an administrative agent for several lenders, boosted a $17.4 million mortgage on the property by $222.6 million, records show.


Kolter Urban launched sales of Selene last year after obtaining final city commission approval for the project in 2020. The 300-foot tall towers will include nearly 6,000 square feet of retail and restaurant space, according to the project’s website. Kobi Karp is the architect.

Led by Bob Vail, Kolter Urban is the condo development arm of Delray Beach-based Kolter Group. The parent company also has subsidiaries focused on single-family homes, multifamily and hospitality, according to its website. Bobby Julien is CEO of. ...

  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, sell my property, palm beach, mortgage, jupiter, jupiter farms, sell my house

Monday, December 12, 2022   /   by Dave Magua

Five tips for shifting 2022 sellers away from 2021 prices

The pandemic disrupted Miami residential real estate in extraordinary fashion, dramatically inflating prices and demand for housing and forever altering the way people think about work, education and lifestyle. At the peak of this unprecedented cycle, bidding wars erupted as soon as listings hit the market, to the spectacular benefit of sellers and agents like me.
But this cycle was never sustainable and has obviously come to a bumpy end. Data clearly shows that the great rush has been over for months, with today’s Miami buyer pool cutting a sharply different profile. Last year, they were making quick decisions; now, they are much less desperate and infinitely more discerning. Time and patience have taught them that they don’t need to be tied down to any particular location, and decision-making has become more difficult. Economic concerns about interest rates, jobs, the stock market and a looming recession that did not exist in 2020 and 2021 are also major factors. Today&r2 ...

  #real estate #south florida #luxury real estate #buy and sell #dave magua #home decor #real estate agent #luxury life #luxury homes # miami realtor #dave magua group #we sell houses #jplantation #weston island #beach front properties #real estate investor #investment property #family home #boca raton #boca #home #illustrated #real estate#compass, palm beach county, south florida, broward county, sell my property, palm beach, mortgage, jupiter, jupiter farms, sell my house, 2022, property insurance

Keyes Illustrated Properties
Dave Magua
21065 Powerline Rd C-7
Boca Raton, FL 33433
754-581-5077
pixellocker

The multiple listing information is provided by MIAMI Association of Realtors® from a copyrighted compilation of listings. The compilation of listings and each individual listingare © 2018 MIAMI Association of Realtors®. All Rights Reserved.
The information provided is for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
UP5DB701E1507748.jpg All listings featuring the BMLS logo are provided by BeachesMLS, Inc. This information is not verified for authenticity or accuracy and is not guaranteed. Copyright ©2024 BeachesMLS, Inc.
This site powered by CINC: www.cincpro.com