Is The ‘Trump Bump’ Real
A real estate boomlet may be underway in Palm Beach and West Palm Beach as buyers refocus efforts after a contentious election and possibly seek to be closer to the future president of the United States. It’s been dubbed the “Trump bump” and whether for economic or climatological or political reasons, Realtors said affluent home shoppers such as former “Cheers” star and known conservative Kelsey Grammer have increased their attention on Palm Beach County properties this month, including a $12.9 million waterfront house in West Palm Beach that caught Grammer’s eye.
Jay Parker, CEO of brokerage for Douglas Elliman in Florida, said the positives of living in the Sunshine State outweigh any negatives. “If I’m in the Trump administration, I’d call it a Trump bump, but if I’m just a real estate guy, I’m going to say it’s a culmination of variables,” Parker said about an increase of interest in Palm Beach County real estate post election. He said people put their home buying on hold in the lead up to Nov. 5, and, regardless of the winner, restarted the process after the dust settled.
Chris Cox, a broker associate with Douglas Elliman, said that in the two weeks following the election there was a 90% increase in prospective buyer inquiries compared with the previous month at the multi-tower Ritz-Carlton Residences in Palm Beach Gardens. Units at the waterfront condominium start at $4.5 million. “People sitting in the freezing Midwest may think ‘Well, it looks pretty nice in Palm Beach,’” Parker said about people watching news coverage from West Palm Beach of Trump. “That puts us back in the spotlight.”
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