Buy $3.5M home, get $100,000 car
Home seller John J. Boyle III hopes a set of wheels will sweeten the deal.
The 10,000-square-foot home is at 7601 Wood Duck Drive, in the Islands at Boca West subdivision near Boca Raton. The estate has six bedrooms, seven bathrooms and more than $1 million in custom Moroccan décor. Asking price: $3.5 million.
Included in that price is one of two cars: a $100,000 Ferrari convertible or an $110,000 custom Hummer. Boyle’s business partner in the sale of the house, Jonathan Frank, owns a luxury car dealership.
Boyle’s agent is Chad Carroll, an agent for Douglas Elliman and co-star star of the Bravo reality TV series “Million Dollar Listing Miami.”
In recent years, sellers have offered cars, trips and other incentives to entice buyers. Some real estate observers insist it’s a good marketing tool, while others say the add-ons disguise an overpriced property and often don’t factor into a buyer’s decision.
The Bridges’ clubhouse, restaurant open
GL Homes opened the clubhouse Dec. 3 at The Bridges, a 591-home luxury development near Delray Beach.
The 17,000-square-foot clubhouse features a restaurant: The Grille at The Bridges. Residents placed more than 200 reservations during the opening weekend.
The clubhouse also has a social hall and catering kitchen. Residents can sign up for cooking classes and other events.
So far, 450 owners have moved into the development on Lyons Road between Clint Moore Road and Atlantic Avenue.
Lang Realty to open office in Jupiter
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Those in their 20s or early 30s probably know saving for retirement is important to do. They just may not have the means to do it.
Recent studies show millennials have a strong desire to save. A survey by Fidelity Investments, for example, found 52 percent of those born during the 1980s The second issue, Allison be able to grow savings by say accumulating more said, is that young workers’ taking advantage of a comsavings for retirement is a earnings have not been pany match. According to top priority. keeping up with inflation. the latest annual survey by
Another study by Wells In fact, a report this the Plan Sponsor Council of Fargo showed 80 percent of month by Young Invincibles America, a nonprofit organi22- to 33-year-olds said the found that in many of the zation that supports emseverity of the 2007-09 reindustries that tend to employer-sponsored retirement cession taught them to save ploy millennials, including plans, the vast majority of now in order to survive retail and hospitality, incompanies offer a match. In future economic setbacks. flation-adjusted wages have 2013, companies typically
The problem is that many either declined or stagnated offered either 50 cents or $1 young people don’t have the from 2004 through 2013. for every $1 of contributions means to achieve their goals. And young people are that workers made, up to 6
The issue is twofold, faring worse than older percent of pay. according to Tom Allison, workers. The median pay for That works out to an policy and research manager millennials has fallen as additional $1,200 in retireat Young Invincibles, a nonmuch as10 percent during ment savings if you earn an partisan advocacy group for the 10-year period, while annual salary of $40,000, millennials. For one, total median wages for workers 35 contribute 3 percent of your student loan debt has roughand up declined 3.6 percent. pay and receive a dollar-forly tripled over the past dec“It’s difficult to save if the dollar match from your ade. jobs that are available aren’t employer.
“It’s really tough to save paying the same wages as a “You don’t want to leave for the future when you have decade ago,” said Allison, that money on the table,” a $600-a-month student loan co-author of the report. said Kristen Robinson, a payment,” Allison said. It’s a bleak picture, but not Fidelity spokeswoman.
Some evidence of this entirely hopeless. Don’t have a 401(k)? Lang Realty is opening an office in strain can be seen in the For one, pay is rising for Robinson said putting even a Jupiter by the end of January.
percentage of young workers young workers in the health small amount of money into The new 2,000-square-foot location who are saving for retirecare sector. In fact, the medisavings each month can go a is at 920 W. Indiantown Road in the ment. In the Fidelity study, an wage among health care long way toward getting you Tuscany Square shopping center. Ten
only 47 percent of millennijobs has increased as much on the right financial footing.agentswillworkfromthesite,withals had started putting monas5percentformillennials more hires planned.
ey away for old age, despite it over the 10 years through “Millennials often think Boca Raton-based Lang is one of the being a top financial priority. 2013. they first need to pay off all top firms in Palm Beach County, with 10 Similarly, the Wells Fargo “That’s encouraging betheir debt before they can offices countywide. The Jupiter location
report found that only 55 cause it’s a growing sector. start saving,” Robinson said. replaces a satellite office at 601 Heritage percent of millennials are More people are entering the “But we suggest that you Drive. saving for retirement, and 47 health care profession,” save for your emergency percent are using more than Allison said. savings first.” half of their monthly income Millennials who have a to pay off debt. job that offers a 401(k) may