Today’s economy is threatened from every direction, as diminishing consumer spending, failing financial and credit institutions and big business layoffs continue to feed the public’s grim outlook. But while that is true in much of the country, the economic climate in West Palm Beach, Florida remains bright and sunny. The longtime playground for the rich and famous has enjoyed ongoing job growth and economic development, with no sign of stopping any time soon. With interest rates hitting near 20-year lows and less buyers to compete with, now is a great time to consider buying a home in places like Palm Beach, where home values have held steady. With the continued demand for new homes in West Palm Beach, real estate brokers like Fite Shavell & Associates are enjoying the benefits.
Since its founding in 1894 by real estate and oil tycoon, Henry Flagler, Palm Beach has been a favorite getaway destination for the rich and famous and anyone who enjoys the spectacular beauty of South Florida. Today, with a population for more than 5 million people, West Palm Beach and Palm Beach County make up one of the best places to own a home. In fact, West Palm Beach was ranked #4 among the best performing U.S. Cities Index in 2007. With ongoing renovation and restoration in Downtown West Palm Beach, business, tourism and population growth continue to make this economy strong.
Coupled with growth of the population and economy, West Palm Beach, FL enjoys an employment rate that’s well above the national average, with job growth currently at 2.61 percent despite the recent economic conditions. Future growth for jobs in West Palm Beach is expected to top 26 percent over the next 10 years, in stark contrast to the national average of 11.9 percent job growth within the next 10 years. Palm Beach is also the fifth largest school district in Florida and the eleventh largest school district in the United States. The highly rated Palm Beach schools, including several private and magnet schools, as well as colleges and universities, give residents the opportunity for high-quality primary and extended education for all ages.
While the job growth and school systems are great, the most important reason so many people flock to West Palm Beach is the weather. With average temperatures hovering between 70 and 80 degrees year-round, and lows typically in the high 50’s even in December, the Palm Beaches are a beacon for vacationers, retirees and “snow birds.” On almost any given day, residents and visitors alike can relax along miles of Atlantic coastlines, with white sandy beaches and moderate surf. The weather is also perfect for a range of outdoor activities, including hiking, biking and, of course, golf. For those who love to golf, West Palm Beach is a haven of spectacular courses, dramatic waterfront and near perfect weather year-round.
With all of these factors helping drive the economy in West Palm Beach, real estate in the area is still in high demand. Locally owned and operated real estate brokers, Fite Shavell & Associates specialize in representation for buyers and sellers in this distinct market. Combining years of national experience with local expertise and personal service, Fite Shavell & Associates can help current and future residents find their dream home in West Palm Beach.
Visit www.fiteshavell.com for the most comprehensive real estate listings in West Palm Beach and the surrounding areas.