Jupiter, FL Real Estate News

By Tom Priester, Paradise Sharks
(Paradise Sharks )
The seasonal buying of property in, and around, Jupiter continues but the strength is not what we had hoped. A volatile stock market has not helped. Limited inventory of well priced homes in the best locations has not helped. Rising median prices of single family homes has not helped. The craziest Presidential campaign ever has not helped. But still we are seeing positive seasonal buying of property here in paradise. Dirt cheap interest rates do help but they are back on the rise, up over 30 basis points in just the past 2 weeks.The wealthy continue to buy, with home sales in the $1 million+ categories rising both in January and February when compared to last years numbers. However, median income families have little to choose from. In Jupiter, the median household income is about $66,7...
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By Christian Penner, Your Mortgage Lender - 561-316-6800 | 561-373-0987
(The Christian Penner Mortgage Team)
Jupiter Mortgage Insurance Solves Lender-Buyer DilemmaPMI is a set of initials that can be a bit perplexing—particularly for new Palm Beach County homeowners who are about to write their first mortgage payment check. They may notice it as a line item that adds a bit more to the payment than they had remembered…and then have that forehead-slapping moment when they remember: it’s that insurance!PMI is a good thing and it’s a bad thing. For many homeowners in Jupiter, mortgage insurance, (or ‘Private Mortgage Insurance’) may be an irritating extra monthly charge—but since without it they may not have been able to buy their new Palm Beach County home in the first place, it can also be indispensable.Some call it lenders mortgage insurance (‘LMI’), which would be perfectly fair, since it’s re...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
The numbers are in for January, 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 from a trustworthy source The Realtors® Association of the Palm Beaches. 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 Tom Priester, Paradise Sharks
(Paradise Sharks )
It has been a long time since we have seen any signs of median condo prices rising in the Northern Palm Beaches. All the way back to June 15th of last year. Since then it had been all downhill but the hill was not steep as median prices over that 7 month period were only down about 8%. During the same time span median single home prices were up, but less than 1%. Again, the market remains dysfunctional.   So median prices of condos in the Jupiter are up for the first time since June. Over the past 30 days they have moved higher by 2%. Watch for prices in this category moving higher over the next few months. Seasonal traffic is heavier than I have ever seen but so far they have not been writing real estate purchase agreements at the pace we would like to see.Remember that each home is di...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
We are in the middle of “season”. It’s when people from all over the world come for our weather, our beaches, our golf courses, our restaurants, our shopping, our amazing quality of life. There are so many variables that determine how many homes they buy while here and one extremely important metric is home inventory, or what is on the market for them to buy.  The number of homes for sale in the Jupiter area continues to grow. As of today, inventory has increased 4.4% since the first of the month and 10.3% over the past 30 days. Last year during this period, inventory levels fell and they continued to fall through September. Buyers should be thrilled as they have more options than there has been since way back in March of 2015.But inventory is a funny thing. Some of it isn’t priced very...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
The 2016 Jupiter Seafood Festival will take over Carlin Park Saturday, Feb. 20, and Sunday, Feb. 21, with a variety of foods from local restaurants. Expect delectable bites including grouper cheek tacos, shrimp empanadas, lobster and shrimp po'boys, lobster nachos, and gumbo.Seven bands including AC/DC and Fleetwood Mac tribute groups will take to the stage over both days, playing classic rock, country and reggae tunes sure to have you grooving all day long.Tickets are $10 for adults. Kids 12 and under are free. The festival will run from 10 a.m. to 10 p.m. on Feb. 20, and from 11 a.m. to 7 p.m. on Feb. 21.For more information, visit the Jupiter Seafood Festival website.
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
If you are even close to Jupiter Florida this is a no miss event. This three-day, family-friendly event over President's Day weekend is full of spectacular art in all media types and jam-packed with fantastic sights, sounds and fabulous fun. Live music in all genres will serenade your soul and incredible food will tempt your palate. Stroll through the many exhibits and vendors and enjoy!The Fine Arts Area features gallery quality work of 300 fine artists exhibiting a variety of talent and diversity of styles in 13 categories including Ceramics, Fiber (wearable and non-wearable), Digital Art, Drawing & Printmaking, Glass, Jewelry, Metal, Mixed Media, Painting, Photography, Sculpture, and Wood. Winners of the juried exhibition will receive $17,000 in prize money.Artist Demonstration Stage...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Yesterday an article by Palm Beach Post Staff Writer Barbara Marshall grabbed my eye and a piece of my heart. We have been somewhat involved in recent discussions about the development of Love Street here in Jupiter and this one hit home. Some absolutely great free advertising for owners of the four single family homes along the east side of Love Street who seem to be looking for a buyer. Anybody who has gone to the Square Grouper for a drink after dinner at Schooners has walked by them all. 1019 Love Street, 1021 Love Street, 1025 Love Street, 1101 Love Street. Four adjacent properties that sit on about a combined half an acre of paradise. Sweet little cottages that make me smile every time I walk by. That walk, those cottages is part of what makes paradise here by the sea.In many ways...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
The months roll on by and as we hit February 1st it’s time to bring you accurate real estate numbers for the Northern Palm Beaches once again. Over the past month things have changed, as we now have one of the prime “seasonal” months under our belt. Pending home sales bring us good news today as the have finally changed course. After what became a 9 month free fall, for the first time since our April 1st report from last year, we can finally tell you that pending homes sales in Jupiter and the surrounding towns have moved higher. Over the past month pending home sales in the region have soared over 13%. Over just the past 2 weeks they are up over 5% so the growth slowed in the 2nd half of the month. We currently stand at about 91% of 2014 levels on this date so need higher numbers to ke...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
If you are in the area this is some no miss events.Sea Fest For Kids! February 27, 2016, 11:00 am to 5:00 pm Daytime Festival-Great for Families!! Children 18 & Under Free, Adults $10   Sea Fest for Kids at the Jupiter Light celebrates all things Maritime, Music and Fun! Enjoy a family day on the waterfront with sea-inspired education & adventures for kids to celebrate Jupiter's coastal heritage and history. Meet lively characters from Jupiter's past, and a real pirate or two. Mermaid and pirate costumes welcome! An unforgettable day filled with live music, story-telling, crafts and kid-friendly food and special ice cream treats at your favorite hometown Lighthouse! Presenting Season Sponsor: Best Version Media   Sponsors: The Jupiter Courier Newsweekly, Treasure Coast Newspapers/TCPalm...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
Help us so we may be able to help them. We are excited to announce the 2016 Cancer Alliance of Help & Hope gala, “Shaken Not Stirred,” at the Wyndham Grand in Harbourside Place Jupiter FL, March 19, 2016. This is our largest fundraising event of the year we are in need of sponsors. raffle items, and attendance. If you are not familuar with us please look us up on our dot.com address. The Cancer Alliance assists cancer patients with normal everyday living expenses such as rent, mortgage, utilities, car payments, car and medical insurance when a patient is having financial difficulty while undergoing radiation and/or chemotherapy treatments. This assistance allows the patients to have less stress while they are concentrating on healing.  Please contact me at 561-685-0976 for additional in...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
We have been telling you it was coming.Even though we still have five days left in the month of January we couldn’t hold back any longer with this kind of news. Median single family home prices in, and around, Jupiter have made a huge move to start the year. As of today, that median price for a single family home in the Northern Palm Beaches has moved higher rather dramatically to $438,000. If you own a “median” home in the area, on paper it is worth $30,000 more than it was on January 1st. This is the highest price we have seen since 2006 and less than 10% behind the all time record prices set way back in 2005. This is our 3rd straight monthly jump and over that 90 day period prices have soared by almost 11%.The question is, where do we go from here? Checking in on median condo prices ...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
This is a no miss event in Jupiter Florida and so proud to be a Board Member.We are excited to announce the 2016 Cancer Alliance of Help & Hope gala, “Shaken Not Stirred,” at the Wyndham Grand in Harbourside Place, March 19, 2016.  The evening will feature a deluxe martini bar, seated dinner, extensive silent auction, music, dancing and the 2nd Annual Magnificent Leaders Award presentation, honoring local leaders who make significant contributions to our community. Guest are invited to dress as their favorite James Bond  or James Bond lady / character. It is sure to be a fun and exciting night. “Shaken Not Stirred” is the the Cancer Alliance’s largest fundraising event of the year. Proceeds will help us benefit cancer patients who live in or are treated in Palm Beach County. The Cancer ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
At Paradise Sharks we love numbers. We track real estate data every day to keep our finger on the pulse of the market. The same numbers that caused us in 2005 to tell anyone who would listen we were heading for a fall. Numbers tell a story so if you care about real estate values like we do, you pay attention.  Sales of homes above the million dollar threshold is a critical metric and we keep a keen eye on it. Since the turn of the century only twice has this figure been wrong in predicting where prices were going. Put a pen to that and it means over 86% of the time this single metric has been correct in telling us where prices are heading the following year. You go to Vegas and someone gives you over 86% chance of winning by playing red you are going to play red.During 2015 in the North...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Interplay of supply and demand is looking most interesting There is no doubt we are entering what historically are the most active weeks of the home buying season. The weeks when home buyers are putting ink on paper and agreeing to buy homes. Last year pending home sales during the month of January in the Northern Palm Beaches soared by almost 15%. In February the shot up another 32%. They jumped again over 6% in March. It kicked off what ended up a year when we sold more homes in the Jupiter area than ever before. Ever, like in history. Way back before the lighthouse was built. Never has there been a year like 2015 where more homes sold in single year. If you wonder why Realtors were smiling in 2015 this was it. Right out of the blocks, 2016 is starting better than last year. Last year...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
7 months since last increaseMedian condo prices in the Jupiter area continue to underperform their single family home cousins. Over the last 30 days condo prices remain unchanged and over 200 days have passed since we have seen an increase of any kind. When comparing today’s prices to year ago numbers we are still higher, but only by 5.4%. Compare that to single family homes in the Jupiter area where median prices have been on the rise for almost 3 months and as of January 1st were 9.3% above year ago numbers. Watch for prices aboard to rise over the next few months as seasonal demand should held shore up what has been sagging sales numbers. We have to go back 22 months to find weaker condo sales and we still are counting on our winter visitors to help steer this ship on a better course...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Second straight monthly increase after 4 consecutive down months If nothing else, the real estate market here in the Northern Palm Beaches keeps one on their toes. We still have a few days before we call 2015 a done deal and set our sights on the new year. Pending home sales have been poor at best and median prices of condos in and around the Jupiter/Palm Beach Gardens area have not risen since June.But prices of single family homes have started to spike and we see much sharper increases coming your way. Prices over the past 30 days for median single family home prices in the region are up another 1.5% making the two month climb over 4%. What’s interesting is this upward pressure is being created with much slower sales. November sales of single family homes in the area were the slowest ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Single family homes sales in Jupiter tell the story Here at Paradise Sharks our mission is simple. To raise the bar on the quality and value of real estate services available to anyone buying or selling real estate in areas we serve. We strive to raise the bar every day. We want professional photographs taken of each listing. We know social media like the back of our hand. We study the metrics of the market daily as we want our clients to be making fully educated decisions. We seek feedback on every showing and provide regular updates to our client so we can react to market changes. We never charge transaction fees. We only use electrically monitored lock boxes. We are different....by design.  And we want to show our clients value in each and every transaction whether they are buying or...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
The numbers are in for November, 2015 for Palm Beach County Florida cities. The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source The Realtors® Association of the Palm Beaches. 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. Looking for daily updates on Palm Beach County events visit us on Facebook at ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Is this the spark we have been waiting for Lets face it, after watching pending home sales in the Northern Palm Beaches fall month after month, after month, after month we need a shift. Twice each month Paradise Sharks brings you detailed updates on pending home sales and for 14 straight reports over a span of 7 months it has been nothing but decline after decline, after decline. Until today. For the first time since way back on April 15th we can tell you that officially pending home sales have increased.But don’t jump for joy just yet as the increase was not much of an increase. Less that 1/2 of 1% but still an increase from where we stood one month ago. A whopping total of 3 more properties under contract than we had on November 15th. No, it is not time to say the market is starting t...
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