While many real estate professionals concentrate on established markets like West Palm Beach, one local agent is focused on an often-overlooked area she believes is on the brink of significant transformation. Nisachol DeVivo of Marx Realty Group Inc. says Lake Worth Beach is the last undervalued opportunity in Palm Beach County, likely to change as gentrification takes hold.
“My opinion is Lake Worth is like people say it’s new money, Palm Beach is old money,” DeVivo explained. “Lake Worth Beach is still really beautiful. It’s still underrated. It could be a quiet little gem that people don’t talk about much.”
DeVivo, who has a background in five-star hospitality management across Dubai, Bangkok, and Thailand, brings a multicultural perspective to South Florida real estate. She has positioned herself in what she sees as an emerging market, and her outlook centers on a displacement theory that could reshape Palm Beach County’s residential landscape.
Market Displacement Theory
DeVivo believes West Palm Beach’s rapid development will soon push buyers south into Lake Worth Beach. “I think West Palm Beach would be really overcrowded really soon, and people would move down to Lake Worth Beach. So that could be really good investment.”
This idea is reinforced by current market trends. DeVivo points out that buyers from New York can often sell their homes for more and purchase comparable properties in Florida for less, increasing demand. “A lot can sell the house in New York for a lot more money, and they can buy the house for less in Florida,” she said.
DeVivo is already seeing clients move within Palm Beach County based on affordability. “Some of the people move out from the house, they move to another less expensive area, like some of the women who used to live in Boca Raton, and now she moved to Vero Beach, and she said Vero Beach right now is like less property tax, less insurance and the housing you can get brand new for 50% off from Palm Beach County.”
Infrastructure Catalysts
DeVivo points to development indicators that support her view. “Also the new hotel gas stream is coming to Lake Worth Beach,” she noted, referencing new infrastructure that often precedes market appreciation.
These changes indicate institutional confidence in the area’s growth prospects, laying the groundwork for DeVivo’s belief that Lake Worth Beach will shift from being overlooked to becoming a pricier market in the near future.
Unique Market Position
DeVivo’s perspective is shaped by her specialized market position. “I don’t see many real estate agents who speak English and Thai in South Florida. I would say that I might be only one,” she said. This linguistic ability has given her a distinct advantage, reducing competition in her niche and providing a steady stream of clients and insights from a demographic often missed by mainstream agents.
Her clients often participate in Thai temples and social gatherings, creating a network effect that leads to referrals without traditional marketing. “Every time I go to the Thai temple or Thai social event, Thai people always trust me, because I speak in their language to represent them, to sell the house.”
Investment Timing
For those considering Lake Worth Beach, DeVivo suggests that the window of opportunity may be limited. Her view that West Palm Beach overcrowding will prompt migration south means current prices in Lake Worth may not last.
The combination of new infrastructure, demographic pressure from northern buyers, and the area’s current undervaluation creates what DeVivo sees as a strong investment case. She notes that timing is important, as factors like interest rates and insurance costs still affect the market.
DeVivo’s focus on Lake Worth Beach reflects a strategy of finding value before widespread recognition leads to rising prices, aiming to put her clients ahead of anticipated changes in Palm Beach County’s evolving residential market.
