December 1, 2011

Paddock Park 2 Wellington Equestrian Market Report

Paddock Park 2 Wellington Equestrian Market Report 

Paddock Park 2 is the equestrian part of Paddock Park. There are 2 sections of Paddock Park. There is Paddock Park 1 and Paddock Park 2. The difference is that Paddock Park 1 are mostly non equestrian estate properties on about one acre of land and Paddock Park 2 is the equestrian section with lots of at least 2 acres each with riding trails and mostly horse properties. Neither section is gated and there is no HOA which is awesome! Of course, that is my opinion. 

There are 14 active listings in Paddock Park 2: 

The most expensive active listing is 14949 Draft Horse listed at $1,975,000 million. 

This home boasts over 8000 square feet under air conditioned living space and sites on a little over 2 acres. The home has a resort style pool and many upgrades. 

The grounds have a great 4 stall barn and a full apartment for the groom under one roof. There is a lighted riding arena and trailer parking. 

The lowest priced home in Paddock Park 2 is located at 14983 Draft Horse Lane. This home is under contingency for $390,000 and it is a bargain price if it gets approved. It is a short sale and it is in need of a new roof and other repairs. You will not find a better value than this price. We will need to wait and see if the third party approves this low price. 

There are 8 properties actively listed between $1 Million to $2 Million in Paddock Park 2 right now with the average asking price to be about $1.4 million. All the properties are custom built in Paddock Park 2. 

Most of these active listings do have equestrian facilities such as barns, paddocks and riding rings. 

There are 3 active listings between $800,000 and $950,000 in Paddock Park 2 and there is one home listed at $670,000 but it does not have any equestrian facilities. 

One current pending contract is on 14443 Halter Road and sits on over 2 acres of land and is listed at $875,000. Horses are permitted however this is a heavily wooded lot with no equestrian facilities. This is a great property for someone who wants a lot of privacy. 

8 properties sold in the last 12 months in Paddock Park 2: 

The highest sold price this past year was 14610 Draft Horse which sold for ALL CASH for $1,180,000. The original list price was $1,699,000 and then reduced to $1,448,000. It was on the market for 340 days with the last agent. This exquisite estate home is statefully decorated with too many features and customized details to list. 

The second lowest priced home that sold in the last 12 months closed for $380,000 sitting on 1.9 acres. What a bargain! It was only on the market for 5 days before it was under contract. This was NOT a short sale or a foreclosure. 

1793 Trotter Ct sold for $1,200,000. No equestrian improvements on property. 

14813 Draft Horse sold for $1,012,500. No equestrian improvements on property. 

1681 Clydesdale sold for $912,000. This property does back up to the bridle trails but does no thave equestrian improvements on the land at this time. 

14587 Halter Road sold for $670,000. This property is along the bridle trails and close to the showgrounds. It has a tennis court on the property and still plenty of room to build a barn or put in paddocks. 

14609 Draft Horse sold for $624,777. This was a short sale. Again, no equestrian improvements yet plenty of room to add them. 

14575 Draft Horse was a bank owned property and sold for $368,000!!! WOW!!! It was only on the market for a total of 59 days. This was the lowest priced sold property in Paddock Park 2 in the last 12 months. 

Contact Nestor Gasset or Katerina Gasset at 561-541-9936 to arrange showings on any of these Paddock Park 2 listings. Serving your Equestrian Property requirements.. Contact us today. 

November 22, 2011

Baby Boomers Plan To Enjoy Their Retirement

Baby Boomers plan to enjoy their retirement instead of saving an inheritance for their kids. More and more baby boomers are saying they have already given their kids enough and now it is their turn to enjoy life and enjoy their money. Many baby boomers even plan on leaving nothing behind for their kids. 

Some baby boomers have paid for medical school, law school and even taken care of the grandchildren financially. Many of them are saying that they plan to spend their money while they are alive. Out of a survey that was taken about the investment habits of millionaire baby boomers only 49% said that it was important to leave money to their children when they die. 

There are 77 million baby boomers that are or will be shortly making these kinds of decisions. Many other baby boomers are worried that they are not going to live out their golden years the way they want to because they are taking care of their grown children, their grandchildren and their parents financially and timewise. 

Baby boomers are those who are between the ages of 47 to 65.  Many baby boomers spent their lives building successful businesses and careers and many did so at the expense of free time, their health or even their marriages and other relationships because they were looking at the goal of having financial independence and doing what they want to do when they reach a certain age. They pay for pricey college educations for their children so they don’t get pangs of guilt about wanting to spend their hard earned money. 

Baby boomers are not interested in giving up traveling, buying a second home for all cash in South Florida,  golfing or going on cruises just so that they can leave money for their children to inherit. Most of them think that the amount of money they have been helping their grown kids with is equivalent to an inheritence anyways. They are supporting elderly parents, they are taking care of unemployed children, they are buying homes with all cash for their children who went through foreclosures or short sales. 

When we were at our son’s baseball game the other night I saw the sticker on an SUV: ” We’re spending our kids’ inheritance.” If you want to spend your kids’ inheritance here in Wellington Florida- we will be happy to oblige:)! 

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