Jupiter Fl spectacular lightning video

Take a look at this video of Jupiter's fantastic lightning shows. If you've never lived in South Florida you may not believe this is real....but it is!


Richard SitesRealty Associateswww.CoastalFloridaRealEstate.net

Tropical Storm Bill forecast map

All eyes are on Tropical Storm Bill which could become a hurricane tonight. This map shows winds up to 120 mph by Wed and the water temperature down there is in excess of 85 degrees.


Waterfront homes in Jupiter finally getting more realistic

Jupiter waterfront properties include those along the Loxahatachee River in Tequesta and Jupiter where many pro golfers like Rickie Fowler have their homes, those in exclusive clubs like Jonathan's Landing or Admirals Cove with deep water access for yacht owners, those along the ocean in North Palm Beach and Jupiter Island and condo and homeowners along the Intracoastal Waterway.  Waterfront property owners who want to sell are finally getting the message that they have to drop their prices.

I have noted many times on my website Coastal Florida Real Estate of multi-million dollar properties that have dropped the price dramatically and sold almost immediately.

And, I've noted in other blog posts about the percentage of asking price these sellers are finally taking.
Its especially interesting to note that in the million dollar plus waterfront home sector, sellers are only getting 88-89% of their asking price while more modest homes are getting around 93%. When you add in the hidden cost of carrying a multi-million home, pricing your home too high is not the correct strategy for taking home the "biggest check" in the least amount of time, even though many agents may suggest trying a higher price because "we can always lower it later".

When selling, finding the right agent is critical to getting it sold.  So here is a test.  When interviewing agents, after they tell you the price they think the house should be priced at, suggest a much higher price and see what they say.  If they agree and use the phrase above, pick another agent.  A professional should be able to confidently give you their idea of value.  It could still need adjustment in the future, but at least you will know you have got the right agent.

Trying to sell or thinking of putting your home on the market?  Maybe we should talk.  You can reach me at 561-762-4073 or by email.

Jupiter Farms Real Estate Statistics

Jupiter Farms and the western communities offer some of the most inviting and spacious homesites in the county.

What makes these so special versus other acre+ communities is that these properties are only 15-20 from the Jupiter Inlet and our famous beaches that stretch from several miles southward to Juno.

If you have been looking at homes in the Farms, there are plenty to choose from. According to the MLS, there are147 properties on the market. The median price is $ 479,500 but that figure is pushed higher by the mult-million dollar properties on the market.

If we drop the price under $ 1,000,000 we have 124 properties with a median list price of
$ 404,950 or $ 180 per square foot.

But, if you look at the 22 properties that have sold in the last 60 days you will see that homes go under contract around $ 155 per foot and end up selling for around $ 145 per foot. The median time on the market is over 160 days which you know from watching this blog is higher than Jupiter in general. Do you think pricing the home like this is a good strategy for selling?

You can prove statistically that you get the most money for your home by pricing it in the sweet spot of the market from the beginning, which is also where you get your most activity.

Got a question on selling you home? Post a comment below and let's talk.

Richard Sites
Realty Associates-FL Properties

Jupiter Florida, The Hamptons...a great time to sell!

The Hamptons in Jupiter, a classic Di Vosta community of solid homes and oak lined streets.

This home is a typical example of homes in The Hamptons.

If you are considering selling, this may be a great time! Why?

First of all, sales in general are up. And, homes in the Hamptons are in a price range that first time home buyers can afford and use the gov't credit.

Second, there are only 4 homes on the market and all are priced over $ 300,000 and they have been on the market for a median time period of 159 days, higher than Jupiter in general.

In the last 30 days, 3 homes sold when listed at an average of $ 146 per foot or in the range of $ 288,000.

So, if you want to sell your Hamptons home, price it right and this may be the perfect time!

Richard Sites
Realty Associates-FL Properties

Tequesta Real Estate Data

The Village of Tequesta is probably one of our most overlooked areas and is definitely a gem!

Developed in the 60's, the lot sizes are much bigger than those of today. The Village of Tequesta has almost no crime and plenty of art galleries and restaurants, a new Publix supercenter, county library and post office and yet it is only 5-10 minutes from the beaches, the famous Jupiter Lighthouse and Jupiter Island.

According to the Regional MLS 143 single family homes are currently on the market. The median list price is $ 699,000 and this high figure is the result of expensive waterfront homes.

In the last 30 days, 13 houses have sold at a median price of $ 275,000 or $ 147 per square foot. This is exactly in line with the statistics for Jupiter. But they were on the market for only 112 days which is less time than for Jupiter.

Although Tequesta is largely overlooked due to its small geographic area, it offers a fabulous, coastal Florida lifestyle.  You can see all Tequesta homes for sale by visiting Coastal Florida Real Estate or for personal service contact me at 561-762-4073.  Unlike many agents I have lived in Jupiter for 22 years.  If you are in the area, please visit me in the Keyes at Jonathan's Landing office where we are the exclusive on-site agents for the Club.

Richard Sites
Keyes at Jonathan's Landing

Jupiter homes sales in The Shores

The Shores of Jupiter has long been one of our favorite communities. Located near I-95 it is very convenient yet tucked away off the beaten path and wrapped around winding, oak-lined streets and natural preserve areas.
According to the MLS, there are currently 14 homes on the market.
In the last 90 days, 15 have sold. The median size was 2,256 square feet and were listed at
$ 170/ft. when they went under contract. (This is slightly higher than for the town of Jupiter in general). However, the sellers have been taking $ 136/ft which is lower than for the town as a whole, but they are getting 95% of the listing price. The median time on the market is only 71 days, which is about half of the rest of Jupiter.
Richard Sites
Realty Associates-FL Properties

Jupiter Single Family Home Sales

According to the Regional MLS there are 672 single family homes on the market in Jupiter and Jupiter Inlet Colony.
The median list price is $ 610,000 and the size is 2,672 ft.
That's $223 per square foot. Now consider this:
In the last 30 days 71 SF homes have sold. The average listing price for the sold homes was about $ 160/ft when they went under contract and they sold for about $ 148/ft or 93% of the asking price. And they had been on the market for 125 days.
This means the current homeowners who are trying to sell are $ 63 per square foot above the range in which houses are now selling. What do you think of this strategy?
Richard Sites
Realty Associates-FL Properties

Foreclosures spike in Indian River, St. Lucie, but fall in Martin

In July, it was Indian River County’s turn to see a spike in foreclosure activity.

The number of Indian River County homes entering a new stage of foreclosure increased in July by more than 91 percent over the previous month and 153 percent from a year earlier, according to data released today by California-based RealtyTrac (www.realtytrac.com), an online marketplace for foreclosure properties.

While foreclosure activity in St. Lucie County increased by more than 67 percent in July over June, that increase was dwarfed by the jump in Indian River County.

To read the full story go to: http://www.tcpalm.com/news/2009/aug/13/foreclosures-spike-indian-river-st-lucie-fall-mart/

These areas are suffering from 2 things, economic slowdown and speculation in the real estate market. Also, Indian River County, once famous for its citrus, has seen much of it move overseas and southward to Mexico and Brazil and the land used for growing has been turned into new homes....which are now in trouble.

Follow this blog or:www.CoastalFloridaRealEstate.net

Richard Sites
From Jupiter where the thunderstorms are building

Sales of existing homes increase

According to the Florida Association of Realtors in an article published today, sales of existing single-family homes increased at a faster rate in Martin and St. Lucie counties than the rest of Florida during the second-quarter of this year, figures released Wednesday by the Florida Association of Realtors show.

This is some much needed news for an area hard hit by foreclosures.

You can read the full story at:

Richard Sites




The Loxahatchee River, a Federally Designatied Wild & Scenic River, starts near Jupiter Farms in Riverbend Park. http://www.pbcgov.com/parks/locations/riverbend.htm

It winds through massive cypress trees, through Jonathan Dickinson Park, out through the Jupiter Inlet where it joins the Atlantic Ocean.

Jupiter Inlet Lighthouse & Museum, 500 Captain Armour’s Way, Jupiter. Exhibits showcase the story of the Loxahatchee River region and feature the local history of its Native American and Seminole people, the Florida Maritime industry, the history of the lighthouse itself and the local pioneers who made this area what it is today. The exhibit features photographs and artifacts from the newly donated Carlin White and John Durham Collections.

Read the full story at:

Richard Sites

Why Jupiter is still attracting buyers

Abacoa, one of Jupiter's newest communities, has a section called Mallory Creek built by DiVosta.

The Palm Beach Post reported that sales there have been good in spite of the economy.
And why not?? Jupiter is a fabulous place to live.

We have the beaches, schools, low crime, no traffic and perfect winter weather.

Jobless claims still very high

The jobless numbers which were reported today are still very troubling. You can read the full story at: http://www.marketwatch.com/story/jobless-claims-drop-38000-to-550000-2009-08-06

In spite of the Obama administrations attempts to get people to swallow more debt with the Cash for Clunkers program, the fact is the economy is in terrible shape. Mayber a new car and a big pile of new debt will help soften the pain. There is always that "new car smell"!

Instead of stacking up the bills, the only thing that will help is stabilizing the economy and cutting back...on everything.

AIG former chairman Hank Greenberg, who at one time was going to sue the US Govt for the loss of value in his AIG stock has now settled with the SEC for accounting hanky panky for the sum of $ 15 million. It just never stops. Read the full story at: http://www.marketwatch.com/story/greenberg-to-settle-sec-charges-wsj-says-2009-08-06

Richard Sites

Recent Sale in The Shores of Jupiter

This home just sold in the Jupiter, Florida community of The Shores of Jupiter. It is a 4 bedroom 2 bath home with 2,433 square feet and was originally listed at $ 310,000. It sold for the full price in just 71 days, proof once again that correct pricing will net you the biggest check in the least amount of time.

The Shores of Jupiter is a lovely, mature community in the Northwest section of Jupiter built around lakes and featuring winding, oak-lined streets. Home prices have remained stable in here and it has always been desirable due to its preserves, trees, well maintained homes and proximal location.

To learn more about the Jupiter/Tequesta current real estate market, follow this blog or visit me at: www.CoastalFloridaRealEstate.net where I update market statistics regularly.

Richard Sites

Realty Associates-FL Properties



Frenchman's Reserve Recent Sale

This estate home in Frenchman's Reserve just sold. The home is 5,548 square feet with 6 bedrooms, 6 full baths and 2 half baths. When originally priced for sale, it was at $ 1,795,000 and finally sold for $ 1,475,000 after 131 days on the market. This is a shorted period of time than most homes in this price range.

Frenchman's Reserve is a Toll Brothers community in Palm Beach Gardens. In typical Toll Brothers fashion, Frenchman's Reserve is built around a "big name" golf course, in this case an Arnold Palmer course, and the streets are laid out like ribs extending from a central spine and lining each side of the fairways. This designn is typical for premier country club communities in this area.

To learn more about the current market, follow this blog or check out my web site where I update information and statistics frequently. www.CoastalFloridaRealEstate.net

Richard Sites
Realty Associates-FL Properties

Jonathan's Landing...tough sale!

Now here was a tough sale!

Jonathan's Landing is one of our nicest Country Clubs featuring 3 golf courses and a wide range of homes from waterfront estates to more modest townhomes and condos.
A 4,225 square foot home just sold after 1,170 days on the market! It was originally listed at $ 2,475,000 and was sold for $ 1,150,000. That's more than a 50% reduction. This sale is a testimony to the agent's professionalism since the seller stayed with him without changing agents.

As I have written many time before, to get the biggest check price your house correctly from the start. When the hidden costs of carrying a property this size and where the tax bill alone was exceeding $ 25,000 per year, moving the property quickly is of utmost importance.

Your comments and feedback are always welcome!

Need some specific real estate information on the area? Send an email to: