GENERAL INDICATIONS OF A FORTHCOMING ROBUST HOUSING MARKET

• Home prices could jump almost 10% in 2013 (J.P. Morgan)

• S&P/Case-Shiller home price index shows biggest year-over-year increase since spike caused by expired tax credit

• Existing home sales for November rose 5.9% over October, 14.5% higher than in November 2011 (National Association of Realtors)

• 2012 Housing starts are 23% higher than 2011 and 2013 predicted to usher in a 21% gain over 2012 (National Association of Home Builders)

• Inventories are low and demand is rising – 22% below last year’s levels of traditional listings and distress properties (National Association of Home Builders)

• Positive consistent reports are out on housing starts, permits, prices, new-home sales and builder confidence in recent months indicating a gradual but steady housing recovery is underway across most of the nation (National Association of Home Builders)

• Existing home sales are at the highest level since November 2009

• Foreclosures and short sales accounted for about 22% of November sales, down from 24% in October and 29% in November 2011

• Builder confidence has posted gains for 8 consecutive months and is now at 47; the NAHB/Wells Fargo Housing Market Index has not been above 50 since April 2006

• Rental market has greatly enlarged due to demand and more than 31% of today’s renters plan to buy a home in the next two years, a 9-point increase from 22% in January 2011 (Trula’s American Dream survey)

•  72% of “Millennials” (18-34 year olds) have home ownership as part of their personal American Dream.  About 93% expect to buy a home one day

DELRAY MARKETPLACE OPENING DELAYED

Mega 258,000 sq ft retail shopping center will feature a new Publix (which is almost ready for its  Certificate of Occupancy and plans to open in January), a Frank movie theatre (10 screens), bowling compex (16 lanes),  Cine Grille & Bowl with IMAX screens, many dining options including Burt & Max’s, Shula Burger, Orange Leaf, Charming Charlie and retail outlets such as Chicos, Charming Charlie and Joseph A. Bank.

Construction is ongoing both to open up Atlantic Avenue to four lands and to extend Lyons Road to just below Boynton Beach Road where the Canyons and Valencia Reserve were built.  Completion of the roadwork is expected to be finished by mid-2013.

An amphitheatre is also under construction.

The Florida Turnpike provides easy access to the complex for shoppers and many parking spaces.

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