Jupiter Home Sales in Seabrook, Jupiter Ocean Racquet Club
Jupiter Report January 11, 2010
We are experiencing unusually cold weather this week with temperatures in the morning near freezing. Not your normal January weather. Still no snow and hopefully this cold snap breaks soon. We had 34 properties sell this week. Many under $200,000 that were cash sales bought by investors to rehab them and turn them into rentals or flip them once they are repaired. I continue to see some new properties come to market which we need due to the declining inventory of nice Jupiter homes.
I hope everyone reviewed my excel spreadsheet and graph showing inventory levels in many of the communities. Lower inventory levels and a demand for the Jupiter area is stabilizing our market and I am seeing more comps coming in higher then expected.
I continue to have customers come down to Jupiter and leave in disbelief that the prices are holding steady and are much higher then other areas. We did not have a building bonanza like many towns. Take a look at a Jupiter map and see how much preserved land we have. We have a 100 acre oceanfront parcel in Jupiter that is a preserve. We also have another 30 + acre parcel in Juno on the beach that is a preserve. Where else do you see that in S Florida. This is why our prices and our market is stronger then many surrounding areas. We have A rated schools and an incredible quality of life compared to down south.
I have a few great deals coming to market. A Sea Brook that needs to be rehabed at $160,000 and possibly another beach townhome that is remodeled at $250,000.
I just listed a 2Bd/1.5 Ba Jupiter Ocean Racquet Club ground floor for $175,000. Fully furnished, turnkey, close to pool and walk to the beach. Property is rented until March 31st. Very liberal rental policy there with a 30 day minimum. Makes a great investment property.
