This week we saw Jupiter home sales rise from 54 to 75. Another strong week for Jupiter home sales.
Remember I was predicting lower inventory levels and stronger buyer demand. It took a bit longer to get there then I really expected but I have been saying to buyers that the boat was missed on the very best deals. I also was telling everyone about reading it in the paper. Well if your reading it in the paper, it is old news and the newspaper is publishing what I gave you last week and what I have been saying for 6 months or so. I'm sailing off on the ship and waving goodbye to the best deals.
I have been showing you how fast many homes are going under contract each week. 30-50% of the homes going under contract have been in 30 days or less for months now. You serious buyers know it. I have so many buyers waiting for properties to come on the market that are ready to buy. They just can't find the right home. Along the beach, most communities have 1% of their homes for sale. Yes , you are reading that right and several communities have no homes for sale. What do you think buyers are going to think mentally when they start reading articles like this?Here is the news article from the Post this week:
Click link above to read the article.
I continue to get asked about property taxes from many different buyers so I want to explain how they work. We have homestead which allows you to deduct $50,000 of the assessed value of your home for tax purposes. If you are buying a $500,000 home you are saving $700 per year. Not a huge deal. If you are buying a $200,000 home that $700 is a fairly decent portion off your property tax percentage wise. What homestead really does is protects you if we have spiraling real estate prices again. Do I see that boom ever again like 2005 /2006. Probably not. It allows your assessed values to rise only 3% per year even if your property goes up 25% per year. The flip side is that the county can raise the millage rate 10% like they did last year so they could collect the same amount of taxes on your declining property values. Will they lower the millage rate next year if your property values rise, probably not. In the end it helps a bit, but they always seem to get around it somehow. If you are buying a property and want to see the taxes you will pay go out to the PAPA site( Palm Beach County Property Appraiser and scroll to the bottom of the house you are looking at and there is a tax calculator with homestead and without. Here is the link for everyone.
If you didn't read last week's Jupiter home sales report you missed the Coastal Living article with Jupiter being in the top ten best beach communities to live.
See every Jupiter condo for sale.
Remember this property from last week. Under contract in 1 day.
Back on Market
There is a 3 bedroom townhome in Jupiter Harbour that just came back on the market. Take a look,. Don't miss this deal! Check the BOM on the left side of the page. Waterfront view!
Ritz Carlton Power Broker 2012
561-744-7025 Call or text
Jupiter oceanfront condos is by Jim McLane. See his profile on Google.