Things appear to be looking up for the most part in the Palm Beach real estate market.  Home sales have seen an improvement; prices are no longer in an alarming freefall and builders are actually purchasing lots once again.  Despite this good news, the term ‘housing recovery’ is still very much a loose one.  Depending on your situation and the home itself, you’ll find that property generally falls into one of three categories.

The lowest tier is actually where the most affordable Palm Beach homes are available and where you’ll find the largest number of foreclosure property.  With the first time buying tax credit and high end property available for sale at $100,000, sales have seen the biggest increase in this sector.

The middle or “cool” tier is where you’ll find the majority of homes that may be underwater.  Most buyers in this category already own a home which is why is it’s encouraged that prospective buyers sell their current property before moving into another one.  Sellers really need to utilize all of the resources they have available if time is an issue.

At the top is where things are tougher.  Although banks are hesitant to provide “jumbo” loans to buyers, coming in with as many of your bases covered such as being pre-approved can yield fruitful results.  Sellers with homes in this tier should consider pricing aggressively and perhaps throwing in some incentives, strategies a Palm Beach realtor will be able to provide.  As another plus, you’ll find very few foreclosures forcing prices down in this tier, one less thing to have to deal with.