Jupiter Market Report

 

It seems this may be the busiest month coming up as the phone has been ringing off the hook. I guess the weather up North is easing slightly and buyers can fly down and not worry about flights being cancelled. The other strange thing I've noticed is I'm hearing from customers that have been looking for years and are now ready to buy.

 

Several of the new communities are almost built out such as Rialto and Windsor Walk, the last two affordable new home communities in Jupiter. New townhouses in most areas are fast approaching the $500,000 mark and single family homes are starting at $750,000 with most being a million dollars. Jupiter and Juno Beach is soon becoming the million dollar market for new construction.

 

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Thinking of Selling your Jupiter home?

The 2014 real estate market report will be broken down into home sales and condo/townhouses so you can see what's happening in each particular market. Each market attracts different buyers and it will reflect differently in market conditions.

 

The single family home market in Jupiter is out of the reach of many first time home buyers so they look to purtchase condos as an alternative housing choice. Cash investors are also a dominant force in that entry level condo market as well. Two reasons: First they are paying cash. The rental rates based on sales price allow a decent return on their investment and the appreciation potential is strong. Many  have seen nearly a 100% appreciation since 2011. This is one…

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New listings in Juno Beach

I have seen very few new condos come up for sale here in Juno Beach. With season in full swing inventory levels remain sparse and sellers are just not budging on their asking prices. Why should they as there are so few condos for sale buyers have few options to chose from. Even the single family homes here in Juno Beach are bring steep prices. The standing joke is if I moved that house from Juno Beach almost anywhere else and instead of $600,000 it would be $200,000 to buy. The land along Ocean Drive is commanding $500,000 for lot values.

Juno Beach condos

Today I saw two new listings hit the market in two of my favorite buildings, Ocean Royale and The Surf in Juno Beach. This is the first new listings I have seen in…

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Jupiter Homes & Condos for sale

 

The Bluffs home above was listed a day or so ago and it quickly caught my attention so I decided to feature it this week in my Jupiter Report. The Bluffs single family homes have been one of the hottest beach area communities recently and is an exceptional value. One of the reasons is many of the other homes near the beach are multi story and buyers are looking at one level homes as they near retirement age. The Bluffs offer CBS construction, vaulted ceilings and an open floor plan with nearly 2,000 sq. ft of living space and a 2 car garage. The proximity to the beach and how the community is maintained make it a popular beach community. They also have one of the largest community pools along the beach.

 

 

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Best Deals on Jupiter Island

This week I spent quite some time showing condos on Jupiter Island and usually many of the condos are old, dated and in need of an enormous amount of upgrades. To my surprise I did see some very nice oceanfront condos this week. My first stop was Tequesta Towers at 400 Beach Rd on Jupiter Island. Built back in the early 70's Tequesta Towers are very similar to Ocean Towers North and South, both Divosta built condos. They are located at 100 and 200 Beach Rd just as you enter the island.

Ocean Towers South consists of 4 condos per floor and about 1,700 to 1,800 sq. ft under air. The 01 and o4 units are the corners which offer extra windows and beautiful views both East and to the North or South. The condos don't offer many…

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Inventory low for Juno Beach Condos

The buying season is here for beachfront properties as the season comes into full swing. Juno Beach condos are at the lowest inventory level I can remember in 10 plus years. With only  afew condos under $400,000 for sale and between $400k and a million we may have a dozen ocean condos for sale. Above a million we may have 3 condos for sale. As you can see inventory choices may make buying this year much more diffficult than past years. What should you do if you are a potential buyer and just can't find a condo you want here in Juno Beach. An option may be Singer Island or Jupiter Island where the condos sit on the sand as well. This will open up more opportunities for you but both places are quite different from…

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The last week of home sales in 2014 finished on an uptick. We continued to show  a strong surge in the sub $200,000 and $300,000 market. We saw many small condos and homes sell as both investors and buyers hurried to close before the year end for tax purposes and homestead. This weeks front page headline in the Palm Beach Post read "Region's home prices rise again", South Florida was the rare U.S. market that saw price increases in October. South Florida led the nation for home price gains for the third consecutive month.

 

They are no longer expecting double digit price increases but with continued high demand and low inventory we should see 3-5% rise in prices this year. We still have available cheap money as well as a large percentage of…

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The last week of home sales in 2014 finished on an uptick. We continued to show  a strong surge in the sub $200,000 and $300,000 market. We saw many small condos and homes sell as both investors and buyers hurried to close before the year end for tax purposes and homestead. This weeks front page headline in the Palm Beach Post read "Region's home prices rise again", South Florida was the rare U.S. market that saw price increases in October. South Florida led the nation for home price gains for the third consecutive month.

 

They are no longer expecting double digit price increases but with continued high demand and low inventory we should see 3-5% rise in prices this year. We still have available cheap money as well as a large percentage of…

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Buying a Jupiter home or condo

Starting a search for a Jupiter home or condo may seem like a simple task but it may be more challenging than you thought. Sounds crazy I know but once you make your Jupiter home wish list and put a budget number to that list you may be surprised but the few choices you have. Today if I thought about moving I would be hard pressed to put my house on the market in search of a replacement home. I see hundreds of new homes come up for sale and very few properties really catch my eye. I would be hard pressed to sell and find a replacement without spending hundreds of thousands more to upgrade my home.

Jupiter homes for sale

Abacoa in Jupiter is one of the largest developments here in Jupiter. With over 8…

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Jupiter Real Estate Report for 2105

Yesterday we had our annual office party at Admirals Cove in Jupiter, the premier Jupiter Country Club Community. It is a great time to see what other agents are saying about the real estate market. We all work and specialize in different areas and property types as well as different types of buyers. The biggest challenge was finding good properties to sell that are priced reasonably. No one wants an overpriced listing or a listing that does not show well unless of course they have no business and can justify taking the listing. Finding a clean, updated property is difficult. Many properties seem to be in need of major renovation work.
 
Lack of inventory continues to be the biggest concern for the agents this year.…

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