Coastal Florida Real Estate

Jupiter, Tequesta and other Coastal Florida locations offer some of the finest Florida lifestyles opportunities available.  How do you get started finding your place in the sun ?

Home for sale in Jupiter, Tequesta or other waterfront location:

Looking for the right place for real estate information?  This site solves that problem.  You will have access to the same information real estate agents use. No other site has more current or different information.  Other websites may show this same information in a different format or make you sign in and establish an account to access it. On this site, you have control.  You contact me when you want to and on your terms.

Every home listed in the Regional MLS is available to you here in real time:

   SEARCH THE MLS FOR THE RIGHT HOME

First, you will need automatic notification when Jupiter or Tequesta properties become available that meet your criteria.  This site solves that. Let's set up an auto notification to send you an email when properties become available that meet your criteria.  You can let the computer monitor the MLS while you work or sleep.  Then, all you have to do is go over the choices sent to you.  To get started, send me an email and I'll get you set up with auto-notification right away.   I have things to do, PLEASE PUT THE COMPUTER TO WORK FOR ME.

Second, look for an agent with extensive local knowledge; neighborhoods, schools, market conditions, etc. I've lived in Jupiter for nearly 20 years and raised my family here. And, I focus exclusively in the Jupiter/Tequesta area and Club Communities.

Third, you'll want an agent who has experience with complex financial matters.  I have career experience in estates and financial consulting as well as awards for real estate sales and owned a business in Jupiter for 10 years.

Selling a home in Jupiter or Tequesta:

First: Statistical, dynamic market positioning is the most critical element in selling your home.  This is the same method certified appraisers use.  Most showing activity occurs in the first 3-4 weeks a home is on the market so I'll solve this problem for you and get you positioned correctly.

Second: An unbiased opinion of your home will point out potential opportunities and/or weaknesses and hidden costs that could effect the final net price.  I'll go over these items in detail with you.

Third:  You will need a team behind the sale.  Realty Associates, one of south Florida's fastest growing real estate companies, has over 500 agents with a local office, an attorney-led short sale team, direct lenders and insurance consultants to make sure the transaction closes.

Fourth:  I will always be completely honest with you and be innovative when positioning your property in the market.  Positioning your house correctly involves a lot more than generating a boilerplate CMA.

Remember:  Hope is not an effective selling stategy.

Phrases that can help kill your sale:

    1.  Being sold "As-Is" for seller's convenience.  In a buyer's market, there is no such thing as seller's convenience.

    2.  24 hour notice required.   Why?

   3.  Listing agent must accompany:  National Association of Realtors statistics show that homes on lockboxes get shown 30% more than those that are not on them. 

IDX: Why this is like Bottleneck Pass in the westerns when selling your home.  Never heard of IDX?  Send me an email and I'll explain why this is could be the most critical part of your market positioning strategy.

Sellers: Here's a letter from a homeowner in the Mirabella neighborhood who I helped move forward with their relocation plans:

I sold the Paseos house below was sold in just 17 days in the summer of 2009. Who says the market is bad?

"Richard, thank you for being the utmost professional when selling my house".  A quote from the owner of the above Jupiter home.  Today's market requires a different mindset and if you want to know how I got this house sold so quickly, call me at 561-762-4073.

Another Paseos home sold!  This is the third home I have sold in this Jupiter community in the last 12 months.  Three sellers have now moved forward with their plans.  Dynamic Market Positioning will get your house sold, period!

Convinced you can sell it yourself but don't want to go it alone?

I don't blame you!  But, a real estate transaction can be very emotional and stressful.  So, where can you turn for some guidance?  You could choose a "Help You" type of service where you pay an up-front fee...win, lose or draw. Or you could buy into something on the Internet to help, like flat-fee pricing.  Instead, how about this? You can sign up for online help at HELP ME SELL  Help is available at 3 levels and there is no obligation.  You tell me what level of help you need and I'll provide it. 

My 2009 Real Estate Year End Summary is now posted on my You Tube channel: www.youtube.com/richardsites along with other Coastal Florida Lifestyle videos.

Also join the 50,000 visitors to my Coastal Florida Lifestyle blog where I cover the fabulous lifestyle here along the coast with very frequent updates.

Today's posts:  Juno Beach Fish House, Palm Beach County Property Taxes

Latest Mortgage Rates

Rates for 30-year home loans edged lower for the second straight week, a report said Thursday, but remained above last year’s record lows.

The average rate on a 30-year fixed rate mortgage was 4.93 percent this week, down from 4.97 percent a week earlier, mortgage finance company Freddie Mac said. With rates at these historical lows, if you are planning or trying to sell, you should get very aggressive with your dynamic market positioning.

 A new curve ball in the residential market: The strategic default

In the United States, 26 percent of borrowers owe more than their home is worth, said Karen Weaver, global head of securitization research for New York-based Deutsche Bank Securities Inc. In parts of California, Florida and Nevada, it’s as high as 75 percent.

So-called strategic defaults, in which homeowners stop paying their mortgages while remaining current on other debts, rose 128 percent to 588,000 last year, according to Experian PLC, a Dublin-based credit-checking company, and Oliver Wyman, a New York-based consulting firm. Two-thirds of those who walked away defaulted on their primary residences.  A client I spoke with had his home nearly paid off when he took a home equity loan to buy a sports car.  Several years have passed, he got married and now wants to sell.  But since home values have dropped, he is now facing a potential short sale. Of course, he still has the sports car.  Read the Case Study # 16 over on my blog.

What about Florida?

The house below is under contract in only 6 weeks!

Jupiter/Tequesta Short Sale & Foreclosure Update

I've been getting inquiries on the Short Sale and Foreclosure market here.  If you are looking for these properties, the information in the MLS on foreclosures is sketchy but as for short sales, there are 260 short sales in the Jupiter & Tequesta area alone.  Be sure to take these into account when pricing your home since I'm hearing more and more that today's smart buyer wants to rent before buying and is waiting for the prices to come down or is willing to rent while they try and buy a short sale.  As for foreclosures, the Palm Beach County system is choking on nearly 53,000 of them and they are being added at the rate of 2,500 per month.  To deal with the avalanche, the County will be implementing on-line auctions starting soon.  Other counties in Florida are doing the same thing.  

Flippers are making a comeback

Be sure and check my blog post on the return of (the) flippers, and this is not the squeeky, sea mammal from the 1970's whose friends were Bud and Sandy. 

Or go to http://coastalfloridarealestate.wordpress.com/ and follow my updates on the market and the Coastal Florida Lifestyle.

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Median sale prices of our nearby communities: 

        Tequesta        $ 315,000     Palm Beach Gardens    $ 240,000

        Juno Beach     $ 203,000     Jupiter Farms              $ 235,000

Tequesta's median price is slightly higher due to the amount of waterfront property here. While Palm Beach Gardens has many very large, country club homes, the size of the PGA National community alone keeps the median in the mid-$200's. 

WHY THE MEDIAN PRICE IS HALF THE AVERAGE

Jupiter and Tequesta have always been affluent areas due to the perfect weather and the Coastal Florida Lifestyle.  But, with nearly 1600 properties on the market, it's interesting to note that the median price is only about half of the average.  Why?

Because about 300 of these properties are priced over $ 1,000,000.  And, this doesn't take into account Jupiter Island, where Tiger Woods, Celine Dion, Alan Jackson & Greg Norman live.  Norman has his house on the market for around $ 60 million.  In addition, Jupiter has the high income, low density communities of Jonathan's Landing, Admirals Cove, The Ritz-Carlton, The Bear's Club and the homes along the Loxahatchee River. 

Update: New home sales plunge 

New home sales fell to a seasonally adjusted annual rate of 309,000 from 348,000 in December. That is a drop of 11.2%.  The only real silver lining is that the December number was revised upwards from 342,000. The rate was even 6.1% below the extraordinarily depressed level of a year ago when New Home Sales were running at an annual rate of 329,000.

How low was it? The lowest of all time, or at least as far back as records are kept (1963). Keep in mind that the U.S. population is far larger now than it was in 1963, growing at about 1% per year.

Hurricanes claim another victim...5 years later

Our hurricanes from 5 years ago claimed one last victim.  The stately 1515 Tower in downtown West Palm Beach was imploded with 2,000 stick of dynamite.  It was the 3rd tallest building ever demolished in the US.

Over on Singer Island, the Tiara condominium suffered damage in the multiple hurricanes that hit the area just 3 weeks apart.

The hurricanes of Frances, Jean, Wilma, Ivan and Katrina were an absolute freak of nature event.  Maybe like the once-in-a-lifetime snow storms of the past week in the Northeast.

Crowds gathered, the press was there and the building came down flawlessly!  It's hard to believe we are still seeing the effects of these storms.

UPDATE:  The neighboring condo claims their roof was damaged.