Jupiter Tequesta Home Sales for last 30 days

The information provided is courtesy of the Regional MLS and while it should be accurate, I cannot guarantee it.

In the last 30 days for Jupiter and Tequesta, 336 properties (condominiums and single family homes) either sold or went under contract. Of these, 142 were sales and the others were under contract.
The median home was a 3/2 of 1,889 square feet which sold for $ 258,000 or $ 143 per square foot of living space. The average percentage of listing price received was 92% after 137 days on the market.
The biggest house sold was a 6/5 of 7,607 square feet and it was on the market for 940 days. The fastest sale was a small condominium that was only on the market for 3 days.
Even more revealing is the fact that only 24 of these homes sold over $ 500,000. And yet 65 of the homes sold between $ 200,000 & $500,000 helped no doubt by the First Time Home Buyer program.
Drilling down even more we find that those houses that sold the fastest received the highest % of the asking price. They also didn't have the continual carrying costs associated with keeping a home on the market. "To get the biggesst check, price your house correctly from the start".
There was a spread of nearly 7 % of asking price between the fastest to sell and the slowest to sell.
Of course, a multi-million dollar home typically takes more time to sell. So what would we learn if we looked specifically at the over a million sales for this year?
Well, there were 42 sales over $ 1,000,000 with the highest being $ 5.2 million. The median time on the market was 219 days although the most expensive house took 1,175 days to sell and the median % of asking price received was just over 86%.
I believe the numbers are telling us that the higher end homes have more room to correct on price than the lower priced ones. And if the hidden costs of carrying a $ 1,000,000 plus house are added in it makes even more sense to get the property priced right immediately rather than trying to come down on the price later.
Your thoughts, comments and feedback on the posts are always welcome.
In a hot but breezy Jupiter just made for a day at the beach,
Richard Sites
Realty Associates-FL Properties

Canoe/Kayak Adventures planned for Riverbend Park

Palm Beach County Parks & Recreation Department is beginning a series of canoe & kayak adventures through the headwaters of the Loxahatchee River and Riverbend Park.

The Loxahatchee River is a Federally Designated Wild & Scenic River and flows through massive and ancient cypress trees and finally makes it way into the Atlantic Ocean through the Jupiter Inlet.
Read more about the river at http://www.rivers.gov/wsr-loxahatchee.html

Park Coordinator Sue Congelosi will lead a guided tour of the waterways that meander through Riverbend Park describing the local flora and fauna of this unique wetland environment.

Reservations are required at 561-966-6686.

Richard Sites
Jupiter/Tequesta Agent

Case-Shiller Index shows price abatement

Data through May 2009, released today by Standard & Poor’s for its S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, show that, although still negative, the annual rate of decline of the 10-City and 20-City Composites improved for the fourth consecutive month in 2009.

The S&P/Case-Shiller Home Price Indices measures the residential housing market, tracking changes in the value of the residential real estate market in 20 metropolitan regions across the United States. These indices use the repeat sales pricing technique to measure housing markets. First developed by Karl Case and Robert Shiller, this methodology collects data on single-family home re-sales, capturing re-sold sale prices to form sale pairs. This index family consists of 20 regional indices and two composite indices as aggregates of the regions.

Read the full story at: http://www2.standardandpoors.com/spf/pdf/index/CSHomePrice_Release_072820.pdf

Finally, prices actually increased from April to May for the first time in 3 years.

Richard Sites
Jupiter/Tequesta Realtor

Jupiter home sales for last 30 days

This morning I published a post about the new home sales data that was released today.

After taking a look at this report and the news that many economists think we may have hit the bottom in terms of price deterioration, I thought it might be helpful to take a look at the single family home market in Jupiter.

The info below come from the Regional Multiple Listing Service data and although they should be correct but I can't guarantee it.

In the last 30 days, 66 single family homes sold within the city of Jupiter.

The median size was 2,040 sq. ft.

The median list price was $ 382,500 and they sold for an average of 94.2% of the listing price. And, the average selling price was $ 156.34 per square foot.

This is a big jump since typically houses have been selling for around 91% of the listing price.

The median time on the market was 123 days down several weeks from earlier this month.

All of these are signs that the market may be firming up. Are you seeing signs in your area that things may be turning?

Follow this blog or:

Richard Sites
Realtor in Jupiter/Tequesta

New home sales unexpectedly shoot up 11% in June

Sales of new homes in the U.S. in June rose by the biggest amount since November 2008, climbing by 11% to a seasonally adjusted annual rate of 384,000, higher than the 355,000 expected by most economists.

The report was stronger than expected and provided more evidence that the housing market has improved, analysts said.

"The evidence continues to grow that single-family housing activity has bottomed out," wrote John Ryding and Conrad DeQuadros of RDQ Economics. Read the full story http://www.marketwatch.com/story/sales-of-new-homes-rise-more-than-expected-in-june-2009-07-27?dist=bigcharts
Richard Sites

Tiger, Greg, Nick & now Bill??

OK, we've had the very secretive on Jupiter Island for a long time. But, according to the PB Post, our newest resident may be Bill Gates.
The paper is reporting that Gates has been shopping on Jupiter Island and why not? It's certainly some of the most prime real estate in the world. And, now may be the perfect time to snatch up a deal.
Some of our higher priced properties are only getting 60-70% of the asking price.
Donald Trump grabbed Mar A Lago after the government said it couldn't afford to maintain it. He paid $ 5,000,000 for it in 1985 and its now assessed at $ 20,000,000. And he picked up some of the other properties nearby as well.
Richard Sites

Sea turtle nesting season along Jupiter beaches


This time of year, sea turtle nests are a common site along the beaches of SE Florida. In fact, I don't think people even pay any attention to them anymore like they do for an osprey nest.

Nesting on our beaches begins as early as March. The early nesters are usually leatherbacks with the more numerous loggerheads arriving in significant numbers in May. Nesting continues into August and tapers off in early September.

Most of the Florida coast has adopted or is adopting a "no lights along the beach at night" policy because the lights disturb the turtles and disorient young hatchlings trying to make their way into the ocean. Rush Limbaugh is always complaining about having to keep his oceanfront lights turned out.

The female sea turtle crawls ashore at night to dig a nest, deposit her eggs, cover the nest and return to the water. While on the beach, sea turtles are timid and vulnerable and can be easily frightened away if disturbed. It takes between one to three hours for the female turtle to lay her approximately 110 ping pong ball-sized eggs.

Every morning, researchers patrol the beaches and mark the new nests with a stake and relevant information on the nest. Poaching turtle eggs is a crime although as a kid growing up in Florida I can remember people eating turtle eggs and turtle egg pancakes. It wasn't illegal then and the number of animals was much higher.

This is what the marked nests look like along the beach. Storms along the coast can wreak havoc with nests. I have been at the beach when huge waves have uncovered the nests and seen thousands of eggs washing in the surf. My sons have always enjoyed re-burying them higher up the beach away from the crashing waves.

Palm Beach County has an entire section on the web devoted to turtles:

From the picture below you can see the beachgoers don't pay any attention to the nests. This year, although we have had many storms and the nests have suffered from the high tides and big waves. And of course turtles suffer threats to their habitat and pollution as all other animals.

Here is Palm Beach County we actually have a marine center dedicated to the sea turtles.

They rescue and rehab turtles before turning them back to the sea.

The eggs hatch at night and the hatchlings make their way into the ocean where only a microscopic number will survive and return to these beaches to lay their own eggs. If they see lights at night, they get disoriented and can crawl away from the lights.

Once during the day I found a small turtle crawling across the parking lot at Jupiter Beach Park. Somehow he had made it across the dunes and through the brush but we generated quite a crowd when we released him/her into the waves and watched as it swam away.

Does this look like a great place to live?  You bet it is!  If you are looking at Jupiter homes for sale let me show you all homes listed by all brokers along the Jupiter to North Palm area.  Unlike many Realtors I have lived here 22 years and can show you the best values and locations.  Want to search the MLS yourself?  You can see all Jupiter homes for sale at Coastal Florida Real Estate in real time or you can contact me at rsites@bellsouth.net or on Skype at rsites.  Still like to use the phone?  561-762-4073.
Richard Sites, Realtor

Peanut Island, where I found $ 100 while snorkeling

No, this isn't a south Pacific island paradise. Its Peanut Island in the Intracoastal Waterway near North Palm Beach, Palm Beach Shores and Palm Beach. Its not a natural island, but was created with fill when the Palm Beach Inlet was dug. Its called a "spoil island".
For years, it languished as a home to invasive Austrailian Pines and was wildly popular on the weekend with recreational boaters. On the south side is a very historic building used by JFK.
A few years back I was snorkeling here and found $ 100 bill on the bottom. Do we live in an affluent area? Another time I found a $ 50 bill blowing across a parking lot.
Anyway, if you want to get to Peanut Island and don't have a boat, just take the water taxi from Phil Foster Park.

The bridge in the back in the Blue Heron Bridge. It links Singer Island's southern tip to West Palm Beach. Since the water is crystal clear at high tide its a popular spot with scuba divers. You can read more about this by doing a web search.

The large, multi-colored building in the rear is Marina Grande. The MG condo was built on the site of the historic old Crab House restaurant.
In a partly cloudy Jupiter
Richard Sites

Florida Homes sales statistics

According to the Florida Association of Realtor, Florida’s existing home sales rose in June – the 10th consecutive month that sales activity showed gains in the year-to-year comparison.
And in month to month comparison, June sales were up over May for both condominiums and single family homes.As for median prices, for the second month they are up but still 28% lower than a year ago.
Now, the next big hurdle is getting appraisals right. Since there are very few recent sales to use as comps, appraisals are coming in very low and breaking deals apart. Buyers feel like they are overpaying.And, no doubt the $ 8,000 credit is helping the situation considerably.
In sunny, coastal Jupiter
Richard SitesJupiter/Tequesta Realtor

Jupiter Fl summer thunderstorm fans out

Summer means thunderstorms in south Florida...the really big boys. This is what the anvil heads look like as they soar to 30,000 feet and then spread out. The name comes because they look like anvils when finished.When these build up at night, we are often treated to fabulous lightning shows because the interiors are full of lightning.

Richard SitesJupiter/Tequesta Realtor

Jupiter Dive Center scuba boat

One of our top local dive shops is the Jupiter Dive Center;


Recently, I saw their dive boat coming in and took these pictures.

This shot was taken from the old US 1 bridge which is a favorite with fisherman and swimmers when the tide is high and the water is crystal clear.

This is a boat full of happy divers who just completed a successful dive. We have 2 reefs here off the Jupiter Inlet, one at 65 feet and the other at 85 feet as well as a couple of old steel ships from the post war period.
Game fish congregate around the reefs and wrecks to fill up on smaller fish. This time of year we get summer dolphin and lots of kingfish and bonitas, although not good eating because of their ferocious fighting they can add some excitement to an otherwise quiet time.
If you are considering moving to Florida, and Jupiter in particular, to pursue your diving, you can see all homes listed for sale at www.coastalflrealestate.com.  But to find the best deals contact me, Richard Sites,directly at 561-762-4073.

Orchids in the back yard


Every summer here in Florida we are given a treat to help deal with the heat...a festival of backyard orchids.

Orchids, the biggest family of plants in the world, are really plants of opportunity. In Central and South America they become pests since they will grow anywhere. Only here in "civilization" do we feel the need to give them great care and act like they are in need of "kid glove" treatment.

Seems like every year some new ones turn up that people have discarded or given me, so I just hang them in a tree, toss some turf fertilizer on them when doing the lawn, squirt them with the hose if I have it out and voila! big blooms.
Blogging from sub-tropical Jupiter
Richard Sites
Jupiter/Tequesta Realtor

Tropical Wave over Bahamas

Here is a satellite shot of the tropical wave we are expecting here in south Florida. The local news stations say it will be here today and tomorrow, but it looks like it will be tomorrow.

As always, this time of year things start to heat up in the tropics. The ocean water gets very hot, in the high 80's, and this provides the fuel for things to get cooking.

If you haven't seen my picture of Hurrican Wilma as it passed over my home in 2005, take a look at: http://www.trulia.com/blog/richard_sites/2009/06/hurricane_wilma_photos

I blogging from Jupiter this afternoon.

Richard Sites

Jupiter Island $ 8,000,000 home

This sensational Intracoastal property provides a classic 1957 Bermuda style residence designed by renowned architectural firm of Wyeth, King & Johnson offering 4 bedrooms, 4 ½ baths.

This is a great example of the fabulous homes along the Intracoastal Waterway. But, this is no standard lot, its over 3 acres with 250 feet of waterfront.

This house sold for around $ 8,000,000 but there are plenty of similar properties here and along the Loxahatchee River in Tequesta.

To find out why we live here visit: www.CoastalFloridaRealEstate.net
Blogging from Jupiter & Tequesta
Richard Sites

Jupiter Island's new commissioner is long-time conservationist

Barbara Carr, a Jupiter Island resident with 30 years of service in conservation institutions in the Midwest, was sworn in as a town commissioner Monday.

Carr, who moved to Jupiter Island as a resident in 2007, said in a phone interview that her service in public institutions has given her the skills needed for a job on the Jupiter Island commission.

Carr most recently served for 13 years as president of the Chicago Botanic Gardens. She oversaw creation of a 10-year master plan that led to the expansion of the gardens by 30 acres, shoreline restoration efforts and the creation of a Children’s Learning Center, according to information Carr submitted to the town.

Her master plan involved having members donate $148 million for the gardens, and she was responsible for working with governmental officials overseeing the organizations.
Before that, she served as president of Lincoln Park Zoological Society from 1975 to 1994.

This is a fascinating place to live! To learn more follow this blog or:

Richard Sites
Blogging from Jupiter
Jupiter/Tequesta Realtor

Jupiter's National Night Out

On the first Tuesday in August, neighborhoods throughout Jupiter will join forces with thousands of communities nationwide for the "Annual National Night Out" Crime/Drug Prevention Event.

This year, Jupiter will celebrate on Tuesday, August 4, 2009 from 6pm - 9pm in Abacoa Town Center. Bring the whole family and enjoy demonstrations, food, a kids' fun area with bounce houses, and more!

In all, over 28 million people are expected to participate in "America’s Night Out Against Crime".
"National Night Out" is designed to do the following:
1. Heighten crime and drug prevention awareness;
2. Generate support and participation in local anti-crime efforts.
3. Strengthen neighborhood spirit and police community relations.
4. Send a message to criminals letting them know neighborhoods are organized and fighting

We, here in Jupiter, are very fortunate to have little if any serious crime. Most offenses are just crimes of opportunity.

Want to know more about Jupiter? www.CoastalFloridaRealEstate.net

Richard Sites
Jupiter/Tequesta Realtor

Dune Dog, often overlooked but a great find!

Dune Dog Cafe in Jupiter is one of our most picturesque local hangouts. Its a "beach side" style, open air, rustic cafe located in the heart of Jupiter. Its located under some fabulous, big live oaks which are native to this area.

Several years the place didn't have much business but new owners came in and turned it around and now you can hardly find a seat. I've heard through the grapevine that it is for sale again but can't verify that.

My dad loves to stop in for their grouper sandwich.

Its the perfect place to stop in, anytime, dressed in anything you want and get a great meal. You won't find another place like it in Jupiter....but then again there is the French Connection in Juno Beach!

Following the Jupiter/Tequesta and Coastal Florida Lifestyle for you!

Richard SitesJupiter Resident Realtor


Singer Island rock piles break up waves

The Coastal Florida barrier island are really spits of shifting sand that move in and out and back and forth with the seasons and the weather. However, they are also beautiful places to live.
When hurricanes Frances and Jean in 2004 and then Wilma in 2005 came through, much of the coastal shorline along expensive Singer Island returned from where it came...the sea floor.
The gov't has long used beach replenishment as a means to restore the beach and its expensive real estate and give condos owners confidence. Replenishment is always temporary so the next solution are these piles of rocks designed to break up the waves before they can erode the shore.
To learn more about the Coastal Florida lifestyle follow this blog or meet me at:
Richard Sites
Coastal Florida Realtor
Blogging this am from sunny south Jupiter

Steve Marino & Keith Hernandez like Tequesta

Yesterday, I posted a piece on the special section of Tequesta Country Club that lies along the Loxahatchee River. What makes River Drive different from the rest of the Club is that the homes face south and look directly across the water where the Jupiter Inlet becomes the famous Loxahatchee River.
River Drive is where Steve Marino decided to pay around $ 1.5 million for a home last December and Keith Hernandez lives right down the street. A couple of blocks away Joe Namath has been enjoying the view for years.
To learn more about the Jupiter/Tequesta and Coastal Florida lifestyle go to:www.coastalflorid.blogspot.com
Richard Sites
Jupiter/Tequesta Realtor

Summer Festival on the Riverwalk

A FREE event to celebrate summertime fun in Jupiter!

The unique, waterside Riverwalk Events Plaza will be filled with…

…the sights… a perfect spot to spend a summer afternoon...shade and a summer breeze on the waterfront, with local dance troupes to step up the tempo from time to time with performances throughout the day

…the sounds… island band "The Reel Ting" to liven up a lazy summer day

…the tastes… select vendors with great food, cool beverages and treats to satisfy your appetite for summer

…the arts & market… artists, featuring the "Florida Highwaymen", along with craft vendors and local merchants

BRING YOUR OWN CHAIR and enjoy an exciting afternoon of LIVE ENTERTAINMENT!
CALL 561-741-2623 for more info. Town of Jupiter FREE sponsored event.

Jupiter Florida-Home Sales

Just sold in Paseos in Jupiter Florida
I closed today on this house in the Jupiter community of Paseos for $ 350,000. The house was sold in just 17 days because the seller agreed to price the house correctly from the start. He had none of the hidden carrying costs associated with keeping a house on the market for months.
If you want to take home the most amount of money for your house, price it correctly from the start. You will get the most amount of activity in the first 3-4 weeks.
To find out more on the Coastal Florida & Jupiter lifestyle, follow this blog or:
Richard Sites
Coastal Florida, Jupiter/Tequesta Realtor

Stuart area gets millions for oyster beds

A $4 million federal grant should mean restored oyster beds, cleaner water and about 100 jobs in Martin County. The National Oceanographic and Atmospheric Administration has allocated $4,024,969 to the Martin County Commission to build about 200 acres of oyster bed reefs in the St. Lucie River between the Roosevelt and Evans Crary bridges and in the Northwest Fork of the Loxahatchee River near Tequesta.

The money for the project comes from the American Recovery and Reinvestment Act of 2009, part President Barack Obama’s economic stimulus package. More than 800 applications for grants were made and 50 approved. Of the four projects funded in Florida, Martin County’s was the largest.

“If the commissioners award the bid on July 7,” she, “we’ll be out on July 7, 8 or 9 doing surveys on the St. Lucie and Loxahatchee rivers to see exactly where to put the oyster beds.”

FitzPatrick said “seven or eight” sites in the St. Lucie have already been permitted for beds. Patch reefs 30 feet in diameter and made of old oyster shells will be placed in the water near Martin Memorial Medical Center and Rio.

Closer to the Crary bridge, smaller reefs made of oyster shells in mesh bags will be placed in the water both as oyster habitat and to protect shorelines from erosion by boat wakes. Several landowners have signed on for mangrove plantings along their shorelines, FitzPatrick said.
County officials have identified 106 jobs that will be involved in the project, “everybody from marine contractors, barge operators, quarrymen for the huge amount of shells we’ll need, to nurserymen, scientists and ecologists,” FitzPatrick said. “There will be a lot of people employed by this over the course of the year, and almost all of them local.”

Oysters once thrived in the St. Lucie River, said Vincent Encomio, an oyster research specialist at the Stuart-based Florida Oceanographic Society.

“But over the years the St. Lucie has lost about 75 percent of its living oyster bed acreage,” Encomio said. “Creating more habitat for oysters will improve the habitat for all the other organisms that depend on the reefs to live.”

Oysters filter water at a rate of 40 gallons per oyster per day. With about 600,000 oysters per acre of reef, that’s 24 million gallons of water a day.

FitzPatrick said the bivalves will be able “to filter the entire volume of the river every month. That improvement to the water quality is very substantial.”

Jupiter Island pool on the roof

Scott Hughes Architects—a firm with offices in Los Angeles, Washington, DC and Hobe Sound, Florida—placed a pool on the roof of a Jupiter Island home. Then they inserted skylights in the roof to throw water patterns into the main living spaces. Though expensive, this pool didn’t cost as much as another one the firm did, a double infinity pool with fiber optics that ran $175,000.

Jupiter Island is internationally famous because some of the wealthiest and most private of our citizens live here...Tiger Woods & Greg Norman for starters. Although Greg Norman's house is still on the market. He has decided to spruce it up and has now raised the asking price from
$ 47.5 million to $ 60 million. It was originally listed at $ 65 million.

To find out what makes this area so special, follow this blog or:

Richard Sites
Coastal Florida Realtor

Keith Hernandez finds Tequesta to his liking

I posted a story here about Keith Hernandez selling his condo in Jupiter. The reason is he and his wife Kai bought a three-bedroom, two bath at 335 River Dr. in Tequesta for $1.5 million from Gerald and Irene Mustapick on July 15, 2008. The 2,373-square-foot home was built in 1973.

Mustapick is a builder in this area notably in Admirals Cove.

This is a special road in the Tequesta Country Club since River Drive looks directly across the Loxahatchee River and Jupiter Inlet. There are still some "tear downs" along the street where newer homes, big homes, will be built. Famed speaker and author John Maxwell lives just down the street and Joe Namath lives a couple of blocks away.
To find out why people who can afford to live anywhere choose coastal Jupiter/Tequesta, follow this blog or:www.CoastalFloridaRealEstate.net
Richard Sites
Coastal Florida Realtor

Jupiter, Fla., Named Ambassador City for Raising Awareness of Affordable Housing Opportunities

Jupiter, Fla., has been named a 2009 Ambassador City by the National Association of Realtors® and the U.S. Conference of Mayors for its SOLD on Jupiter program. The program offers potential homebuyers with information, resources and a tour of affordable homes.
The SOLD on Jupiter program was launched in 2007 and is an initiative of the town of Jupiter and the Jupiter-Tequesta-Hobe Sound Association of Realtors®. The groups host two to four SOLD on Jupiter events each year and invite prospective buyers to tour affordable homes in several area neighborhoods.

“Realtors® build communities and are committed to helping homebuyers achieve their dreams of homeownership,” said NAR President Charles McMillan. “The SOLD on Jupiter program should be commended for giving potential homebuyers a better understanding of the home-buying process and the resources available to help them achieve that goal. It also provides more awareness about Jupiter’s neighborhoods and the variety of homes available in their price range.”

Jupiter's a great place to live. Follow this blog or:

Richard Sites

Jupiter/Tequesta Realtor


Greg Norman gives facelift to estate and raises asking price to $ 60 million

I've posted here before about Greg Norman's estate. The lastest development is that he is updating the place and has raised the price from $ 47.5 to $ 60 million. It was originally listed at $ 65,000,000.
This property is a plum on Jupiter Island since it extends from the Atlantic Ocean where the frontage is about 170 feet all the way across the island to the Intracoastal where the frontage is over 300 feet. This is the view you see in the picture above. Believe it or not, once my son and i were near the house in our boat and GN himself was out cutting the grass.
Tiger Woods spent $ 38 million assembling 5 parcels right down the street.
Follow the Jupiter market at:
Richard Sites