1

ABERDEEN POA and HOME SALES

January 27, 2014

2

ABERDEEN POA RESPONSIBILITIES

• PROTECT THE VALUE OF THE PROPERTY • MAINTAIN COMMON AREA

PROPERTY• SUPPORT AND ASSIST ALL

VILLAGES IN ABERDEEN

3

PALM BEACH POSTDecember 31, 2013

POST Reporters’ & Editors’ Picks:

TOP LOCAL STORIES of 2013

No. 1 HOME PRICES SOARHome Price Revival No. 1 Biggest Local News Story

4

ABERDEEN HOME SALES• DATA SOURCE - PUBLIC RECORDS

OF THE PBC PROPERTY APPRAISER• SALES VALUE – CHANGE FROM

ORIGINAL PURCHASE PRICE TO CURRENT SALE PRICE

• SALES VALUE FROM RECORDED DEEDS WITH CLERKS OF COURTS

5

PALM BEACH POSTSunday, January 19, 2014

BOOM -- 2005/2006

BUST -- 2008/2009

AND BOOM AGAIN2010/2013

6

ABERDEEN WEST HOME SALES2010 THRU 2013

THE BOOM YEARS236 HOMES SOLD

7

2010 thru 2013THE 4 YEAR WINDOW• Sales Number Percent

of Sales• 2010 47 20%

• 2011 61 27%

• 2012 54 23%

• 2013 74 30%

Total: 236

8

ABERDEEN BUST RECOVERY

• NEVER HAPPENED IN WEST ABERDEEN • THREE TYPICAL PURCHASE & SALES

CHARTS ARE REPRESENTATIVE OF 17 OF 19 WEST ABERDEEN

VILLAGES

9

ABERDEEN HOME SALESBUST and RECOVERY

2003 thru 2013

• SAMPLE SALES CHARTS:HAMPTONLANCASTER LAKESTURNBERRY ISLES

102003 2004 2005 2006 2007 2009 2010 2011 2012 2013

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

154,925 148,700 146,900 146,233160,400

155,400158,180

148,933151,650

151,275

187,550

242,750

290,818301,000

225,000

112,875 111,40096,567 96,875 95,375

ORIGINAL AVE. PURCHASE PRICE

AVERAGE SALE PRICE

HAMPTON HOME SALES2003 THRU 2013

112003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

181,840 181,033

144,400

175,200164,750 168,700

199,000 188,200168,480

194,000180,625

212,167

265,333281,500

316,667

235,000

197,500

150,000

165,000

89,780116,125123,500

ORIGINAL AVE. PURCHASE PRICEAVERAGE SALE PRICE

LANDCASTER LAKES HOME SALES2003 THRU 2013

122003 2004 2005 2006 2007 2008 2009 2010 2011 2013

050,000

100,000150,000200,000250,000300,000350,000400,000450,000500,000

259,175247,598249,820253,800251,000237,882

283,750269,955272,772272,439

311,000

353,875

456,400435,000

346,000300,000

210,000190,033

263,750240,827

ORIGINAL AVE. PURCHASE PRICE

AVERAGE SALE PRICE

TURNBERRY ISLES HOMES SALES2003 THRU 2013

13

PALM BEACH POSTJANUARY 24, 2014

STRONG FINISH TO 2013 HOME SALES TRUE SIGN OF REAL ESTATE RECOVERYBEST DECEMBER IN 5 YEARS

HOW DID ABERDEEN WEST DO ?

14

ABERDEEN WEST HOME SALES (236)4 YEAR SUMMARY

• GROUP ONE: 191 SALES:–17 VILLAGES–171 or 89.5% SOLD AT LOSS OF VALUE

• GROUP TWO: 45 SALES:–2 VILLAGES –35 or 78% SOLD AT GAIN OF VALUE

15

ABERDEEN WEST HOME SALES 2013 ONLY

GROUP ONE - 17 Villages

• 57 Total Sales, 50 Lost Value• Ave. Sales Loss, $43,046• Losses range from $16,000 to

$95,000• ONE YEAR LOSS OF SALES: $2,152,300

16

ABERDEEN WEST HOME SALES2013 ONLY

–GROUP TWO – 2 Villages –17 Total Sales, 16 Gained Value– Ave Sales Gain: $69,213– Gain ranges from $14,000 to

$159,000–ONE YEAR SALES GAIN: $1,107,000

17

GROUP TWO SALES – 201317 Home Sales

• Bristol Lakes had 13 sales gains averaging $95,976

• Muirhead Estates had 3 sales gains averaging $42,450

182003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0

100,000

200,000

300,000

400,000

500,000

600,000

292,573 302,008279,219

302,456335,781

273,495

292,684338,156

330,696308,122

284,639

368,733

444,656

531,714 541,321

471,000

339,000

286,125333,333

334,800 344,063380,615

ORIGINAL AVE. PURCHASE PRICE

AVERAGE SALE PRICE

BRISTOL LAKESHome Sales 2003 thru 2013

19

MUIRHEAD ESTATESHome Sales 2003 thru 2013

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130

100,000

200,000

300,000

400,000

500,000

600,000

700,000

316,329292,000

321,129

237,129

290,683

346,200347,450

403,150

351,900344,125

298,550

441,875478,000

602,571

658,500

510,000

447,500450,000456,500

377,700385,600

341,000

ORIGINAL AVE. PURCHASE PRICEAVERAGE SALE PRICE

20

West Aberdeen 2013 Summary74 Homes Sold

• 51 Homes sold at an average loss in value of $43,000

• 23 Homes sold at an average gain in value of $70,000

21

.

HOW DID ABERDEEN WEST NEIGHBORS DO IN 2013?

22

ABERDEEN EAST HOME SALES

Jan. 2010 Thru Dec. 2013

203 Homes Sold

23

ABERDEEN EAST HOME SALES2010 thru 2013

• Sales Number Percent Percent ofof Sales all Homes

• 2010 47 23% 6.5%• 2011 46 23% 6.4%• 2012 39 19% 5.4%• 2013 71 35% 9.8% Total: 203

24

ABERDEEN EAST HOME SALES 2010 THRU 2013

• 724 Aberdeen East Homes, 203 Sales• 167 or 82% of 203 homes sold at a gain

• In 2013, 71 HOMES SOLD: –Average gain is $26,369–ONE YEAR GAIN IN VALUE: $1,872,199

25

PONTE VECCHIO WEST HOME SALES2010 THRU 2013

• Ponte Vecchio West with 253 homes • Sold 45 homes over 4 years• 96% sold at an average gain of

$50,875

26

PONTE VECCHIO HOME SALES2010 THRU 2013

• Ponte Vecchio with 645 homes • Sold 87 homes over 4 years• 94% sold at an average gain of

$65,583

27

CONCLUSIONS

• TWO ISSUES:

• Income to the CLUB•Home owner values

28

PROJECTED ABERDEEN CLUB NEW MEMBERSHIP INCOME -- CLASS D

• YEAR 2010 2011 2012 2013 TOTAL• SALES 41 56 46 61 204 Income: $828,815 $1,489,355 $1,775,245

$2,479,360

GRAND TOTAL: $6,572,775

29

ABERDEEN HOME VALUE LOSSES

• 17 WEST VILLAGES SOLD 191 HOMES IN 4 YEARS

• 89.5% LOST HOME VALUES FROM2010 THRU 2013

• VALUE LOSS IN 2013: (Per Home)FROM $16,000 TO $95,000

30

HOME VALUE INCREASES 2013Average Per Home

• BRISTOL LAKES $95,976• ABERDEEN EAST $26,369• PONTI VECCHIO $65,583• PONTI VECCHIO WEST $50,875• MUIRHEAD ESTATES $42,450

31

ABERDEEN WEST SALES VALUE LOSSES ARE UNIQUE

IN THE WEST BOYNTON AREA