Choosing an agent that has never navigated the waters and sold a historic home or that does not have the resources available to them to sell a historic home could be a grave mistake. There are restrictions and guidelines the city has in place in order to retain and protect the character of their architectural past.
Learn more about arguably the most treasured neighborhood in Palm Beach County, The Marina Historic District. If you have questions, call Barry @ 561-880-5587.
There is also information your agent needs to completely comprehend that affects the values of historic homes. Not knowing this information can cost a homeowner big money whether when buying or selling. Make sure you choose the right agent to reduce your risk.
Barry Frette, in combination with the Luxury Team at Raveis Corporate, prepared marketing and sold a historic home in the Marina Historic District in February, 2020. Although the home needed a complete restore, it sold for a record number of $767 per square foot. The reason it sold at this high price? Because Barry understood a key disclosure regarding maximizing the value of historic homes in the Marina Historic District. Failing to know this can cost you a lot of money. Barry knows it!
Review property website below and under Documents section you can review Offering Memorandum created for the sale of 50 Palm Square in the Marina Historic District in Delray Beach, Florida. The buyer of this home told Barry personally that the Offering Memorandum sold him on the home and area.
He was from out of town, but after reviewing how the Raveis Team prepared the marketing package, he decided to drive down from Saint Augustine, Florida to take a look. He walked in the first time and bought the home within 30 minutes. This is a contributing historic home in Delray Beach.
What kind of marketing package do you want your Realtor creating for your home to market it showing its greatest advantages?
A true Historic Home Realtor should know by name the key leaders of the Historic Preservation Boards in the cities they work in. The Historic Preservation Board reviews building permits for alterations, additions, renovations, new construction and demolition requests that affect the landscape of the designated historic sites and properties.
If you are buying an investment property, you had better understand how the property is zoned to know if it qualifies to do vacation rentals and if so, how many per year. For example, RM Zoning only allows you to rent your property 6 times per year.
Barry recently took over an expired listing in the Delray Beach Marina Historic District or Facebook Page for Marina Historic District and listed it for the same price as the previous agent. He maximized his seller's price by presenting the property as an investment.
The seller wanted more than what the property was worth, however, the seller's knew the right buyer would be someone that saw the value in adding-on to the property and expanding it's square footage, therefore taking advantage of the Tax Rehabilitation Credits, Property Tax Exemptions
The Local Tax Incentive for registered historic homes is for increases in ad valorem taxes which is typically an expansion. The Federal tax incentives are similar, but only for income producing properties.
You can also learn more about Florida Historical resources here: Florida Division of Historical Resources
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