Jupiter, FL Real Estate News

By Tom Priester, Paradise Sharks
(Paradise Sharks )
Two weeks into May and we can see the strength we saw from home buyers in the Jupiter area during April has slowed. Through May 1st we have had 1,775 resale properties successfully close in the Northern Palm Beaches. When you compare that to last years volume of 1,985 you can see we have a long ways to go to keep pace with 2015’s record numbers. However, even with slowing demand median prices in the region for that period have moved from $294,900 to $308,000 for a year over year gain of 4.4%. Right now most of that gain can be attributed to the condominium market.   April was the first month this year we had improved upon 2015’s performance in pending home sales and gave us an opportunity to start playing catch up. There is no doubt we can do it if buyer demand stays relatively strong o...
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Paradise Sharks is very pleased to announce the successful closing of unit #106 in The Pointe at Jupiter Yacht Club. Paradise Sharks represented both the seller and buyer on this transaction that closed yesterday. The northernmost tower in the development, residents of The Pointe enjoy unobstructed views of the Intracoastal waterway and the adjoining marina where vessels up to 65’ can be docked. No location in Jupiter enjoys a better location on the Jupiter Riverwalk within easy walking distance of our beaches, Harbourside Place and the world famous Food Shack.  Paradise Sharks loves the Jupiter Yacht Club and strives to meet all your real estate needs in the community. In line with our passion to improve the quality and value of real estate services available to everyone we are pleased...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
The median sales price of a single family home in the Northern Palm Beaches continues on a see-saw pattern for the 4th straight month. The trend still remains in the favor of higher prices but no doubt this consolidation pattern bears watching; closely. Paradise Sharks sees signs that next month at this time we might be telling you that for the first time in a long time median prices will have dropped over the previous 12 month period.  Over the past 30 days the median price of that Jupiter area single family home has pulled back about 3.2% and now stands at $420,000. When compared to year ago numbers we are only up slightly by 3.7% which is pretty much an average historical gain.We are heading into a very interesting summer when anything can happen. The craziest Presidential campaign i...
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By Rei Mesa
(Berkshire Hathaway HomeServices Florida Realty)
Getting the right home price assessed on a property has been an interesting adventure following the housing crisis. Properties in South Florida took a beating and although the recovery is well underway, there are some neighborhoods and communities, like the Jupiter luxury homes, that may still have some work ahead of them.Part of this work involves having an accurate appraisal done on a home where comps are way off due to foreclosures and short sales. Although we are churning through these unreasonably low sales from a few years back, there is still a lot of growing the real estate market needs to go through. Read more at the Berkshire Hathaway HomeServices Florida Realty website.
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By Winston Heverly, GRI, ABR, SFR, CDPE, CIAS, PA
(Winston Realty, Inc.)
The Daily (050616) Hot Sheet Of Top Real Estate News Trending Now   Average rate on 30-year mortgages falls to 3.61% The drop in rates this week - thanks in large part to a Fed decision not to raise interest rates - could entice a few more buyers to enter the market. Read more.Few homes qualify for mortgage reduction offerRealtyTrac: Only 1 out of 150 seriously delinquent Fla. homeowners (.67%) qualify under the fed's latest rules to help at-risk owners by reducing their mortgage principal. Nationwide, it's 1 in 200 (.5%). Read more. Citizens to stop insuring homes valued $700K and upFla.-owned Citizens insurance will drop 1,752 homes after their policies expire next year in its ongoing effort to shrink the size of Fla.'s last-resort insurer. Read more.When commercial brokers cooperate,...
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By Eileen Burns, FL Probate Agent, Hotel, Land, Multi Family
(Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach)
Several real estate professionals gathered in Jupiter, FL today #Active Rain Style  Evergrene, Jupiter FL 900 homes  Largest Infinity Pool  Silhouette, Don Urschalitz Resident co-host   Lou Ludwig , Boca Raton Master Trainer, Real Estate Leader Mark Loewenberg , Caloosa Resident Realtor Gabe Sanders , Stuart Realtor Specialist Martin County FL Kathy Streib , Delray Beach Home Stager and Active Rain co-host  Donald Urschalitz , Jupiter/Singer Island Realtor for 4+ decadesEileen Burns, Ft Lauderdale Commercial Realtor 2+ decades After a deluge of storms yesterday, we began this crisp, clear day traveling inter county to join #Active Rain real estate members to visit and celebrate our friendships, knowledge and laughter for a nice long lunch, poolside! Most of us are long-term members of t...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
It wasn’t supposed to happen. At least if we look at recent history it wasn’t. April is typically a month to hold our own, tread water, when it comes to writing new real estate contracts. But not this year, as pending home sales in the Northern Palm Beaches took off like a rocket ship during the month of April. Over the past 30 days the number of homes put under contract in Jupiter and the neighboring towns climbed almost 9%. Not only was it a significant climb it was the 4th straight monthly increase and all of a sudden we are at the highest pending home sale levels we have seen since June of last year. As important is the fact that the steep climb in inventory levels that began in September of last year appears to be over as we told you just 14 days ago. While the number of homes avai...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
April continues to shape up as a strong month for the real estate markets in the Northern Palm Beaches. As of April 15th, the median condo price in the area is up again for the 3rd straight month. Over that 90 day stretch the median price of a condominium in the Jupiter area is up over 6.2%.  While 2016 sales levels continue to lag behind year ago numbers, April is looking to be a month we may start catching up. Last year there was no growth in pending home sales in the Jupiter area and here we are on April 23rd and so far up about 6.7% for the month.Over the past month, actual closings of condominium sales have rebounded nicely with more units sold in the Jupiter area than we have seen in ten months. Condominium sales are up over 60% from where they were just a couple months back.But d...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home buyers in the Northern Palm Beaches have been busy. Not as busy as they were in 2015 but that was a record breaking year. Last year during the 1st quarter they snapped up 679 single family homes in the region at a median sales price of $379,900. This year they didn’t buy as many homes, a total of 625 during the same period, but the median sales price is up to $436,500.  Living in paradise is once again getting to be an expensive proposition. As of today, pending home sales are up again for the 3rd straight month. Up 5.3% over the past month with the majority of that increase coming since April 1st. Buyers have more choices as inventory continues to increase, but are we finally seeing that growth coming to an end? The number of homes available for sale is up again over the past mont...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
As of April 1st the median price of a single family home in the Jupiter area is up again. Over the past month that median price is up 2.4%. Over the past year the median price has risen by 14.5%.  Over the past month, sales of single family homes in the Northern Palm Beaches were the strongest we have seen in months. Over the two previous months the volume of sales over the past 30 days is up about 35%. Pending home sales have been up significantly for over two months but we started to see that level off as Paradise Sharks reported in our April 1st market update.A month ago we saw these pending home sales numbers and thought the median price would have risen even higher. We ended up getting a nice $10,000 bump to $435,000 which ties us for a new 10 year high. Watch for very good sales v...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
Saturday Apr 9, 2016    7:30 PM- 9:45 PM, Gates open at 6:00 PM  with Live Music      $10 Admission The Wild & Scenic Film Festival is the largest environmental film festival of its kind in North America being hosted in our own backyard. This powerful international series of short films are a call to action! Soul-stirring stories and grand sweeping vistas illustrate not only the challenges facing our planet but the work communities are doing to protect the environment and the places we love. They also portray the magnetic draw of nature and the adventurous side of the human spirit.  Through a grant from National Sponsor, Patagonia, the Jupiter Inlet Lighthouse and Museum (JILM) is proud to join over 150 communities around the globe, to increase a groundswell of environmental awareness a...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Dear Jupiter Town Council,My congratulations to each of you in your election victories and wish you the best in making sound decisions for Jupiter’s future. She is a special place. Different.Yesterday, I was reading an article about an appearance Burt Reynolds made Saturday at the Norton Museum and he was explaining why he moved from Hollywood to Jupiter. He used to land here and just being here lowered his blood pressure. Many of us feel that way. Jupiter is different and that difference should be embraced.  I have built or sold real property my entire life. I own and operate a boutique real estate brokerage and embrace being different. Different....by design is one of our tag lines. I always used to tell clients that South Florida starts at PGA Boulevard. North of there lies paradise....
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
The number of homes on the market for buyers to select from in the Northern Palm Beaches has been steadily rising. As of April 1st, inventory levels are up again, but starting to slow. Over the past couple weeks inventory has only risen about 6 tenths of one percent. In real numbers that means a total of 14 more listings for buyers to choose from throughout the entire Northern Palm Beach region. Barely noticeable.   So what does that mean for the market? We cannot say it often enough. The local real estate market is constantly changing and each property is totally different when one looks at the factors affecting it’s value. Yesterday, we were researching a property for a client along The Avenue in Delray Beach. Undoubtably, one of the hottest, fastest appreciating markets we have seen ...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
 The numbers are in for February, 2016 for Palm Beach County Florida cities. The biggest benefit in this monthly marketing report for our readers is to provide content rich local information.   Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates trust and develops relationships to make educated decisions when it comes to buying and selling real estate. I hope you enjoy the reports and look forward in discussing any questions that you might have in one of the most desirable real estate markets in Palm Beach County Florida. Please feel free to call me for any of your real estate needs. Serving Palm Beach County since 1975 One World Realty 561-685-0976
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
  Wild & Scenic Film Festival Saturday Apr 9, 2016    7:30 PM- 9:45 PM, Gates open at 6:00 PM  with Live Music      $10 Admission The Wild & Scenic Film Festival is the largest environmental film festival of its kind in North America being hosted in our own backyard. This powerful international series of short films are a call to action! Soul-stirring stories and grand sweeping vistas illustrate not only the challenges facing our planet but the work communities are doing to protect the environment and the places we love. They also portray the magnetic draw of nature and the adventurous side of the human spirit. Through a grant from National Sponsor, Patagonia, the Jupiter Inlet Lighthouse and Museum (JILM) is proud to join over 150 communities around the globe, to increase a groundswell...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Median condo prices in the Northern Palm Beaches have made significant gains for each of the past 4 years. Since 2011 prices have moved higher each year and 2 1/2 months into the new year it certainly looks like a 5th straight year of increases is well underway. As of March 15th, the median sales price of a condominium in the Jupiter area is up again, about 1.3% over the past 30 days. Not a huge increase but it brings us back up to $200,000 for the 1st time in 4 months. Seasonal purchases have been decent and all signs are pointing to median prices increasing in the months ahead.Sales have slowed considerably when compared to year ago numbers. Over the first two months of the year the volume of closed condo sales in the Northern Palm Beach market are down 15.5%. A warmer than normal win...
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By Christian Penner, Your Mortgage Lender - 561-316-6800 | 561-373-0987
(The Christian Penner Mortgage Team)
 Move from Single Family Home to Jupiter Townhome / CondoWhen an Palm Beach County couple begins thinking over the pros and cons of downsizing their family’s home base, one increasingly attractive possibility is a move into a Palm Beach County condominium or townhome (yes, they’re different—more on that later).Several factors combine to make that choice worth looking into. One is demographic: Palm Beach County homeowners approaching retirement age typically discover that much of the effort and expense of operating a larger home plant is being wasted once children are no longer at home. Given the choice between mowing the lawn and golfing, or vacuuming a largely unused game room or visiting the mall, eventually the decision gets clearer. Because downsizing can mean significant savings in...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
The number of homes for sale in the Northern Palm Beaches continues to grow. For 6th straight months the inventory of properties from which buyers can choose from has increased. As of today, there are more homes available for sale than anytime since way back in June of 2014. With more options on the shelf home buyers in Jupiter, and the surrounding villages, are writing contracts, lots of them.  The increases in inventory have been strong and across the board. Over the past 2 weeks inventory levels have increased by 3.7%. Over the past month they have increased by 2.7%. Since September, when this string of increases began, homebuyers have almost 30% more homes to choose from.  The good news is with more options sales have also perked up. Over the past two weeks pending home sales in the...
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By Christian Penner, Your Mortgage Lender - 561-316-6800 | 561-373-0987
(The Christian Penner Mortgage Team)
Real Estate Predictions for 2016 Appear to be in Lock-StepGiven that the experts have often been as wrong as they were right about predicting at least one real estate trend for 2015 (mortgage interest rates), it’s fair to ask why it’s worthwhile to consult them regarding this year. Fair enough. The answer is twofold.First off, for anyone who will be buying or selling a Jupiter home in this year, much could ride on the wider market factors that influence buyer and seller attitudes.The other part of the answer is because it’s fun. Trying to take a peek into the future gathers a crowd every time: just tune into any cable TV news or feature show and start counting the experts prognosticating. Besides, it’s even more fun, later, to ridicule the experts who were way off.But putting together a...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
At some point residential real estate changed from the “American dream” to just another commodity. Volatility of median single family home prices in the Northern Palm Beaches is not for the faint of heart. It shouldn’t be that way, but it is so get used to it. It’s one reason we tell you to only buy a home you can afford in good times and bad. Otherwise, you may be flirting with disaster. Make sure with anything real estate you are making educated, fully informed decisions.Remember back to the good old days? In 2001 median single family homes in the Jupiter area were up 16%. In 2002 they were up another 14%. 2003 they jumped another 18%. Things were just starting to get crazy and people thought you couldn’t lose buying and flipping anything you could get your hands on. In 2004 median ho...
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