Multi-million dollar mansions in Jupiter/Tequesta

Here's a quick look at the 2 most expensive houses in Jupiter/Tequesta:
The house above is located just north of Tequesta in Martin County, nearly directly across from the spot where Tiger Woods and Celine Dion are building. You can see his home site on another one of my posts.
This view is looking south down the Intracoastal Waterway toward the Jupiter Inlet and Jupiter Lighthouse. The house is 13,621 square feet of living space with 9 bedrooms, 8 full baths and 4 half baths. It's currently listed at $ 12,900,000.

What makes this particularly interesting is that just a short distance from this house, Burt Reynolds has his 3 acre, Intracoastal estate on the market and although he has dropped the price from $ 15,000,000+ to the $ 8,000,000 range it has been on the market for several years.  Word has it that it is heading into foreclosure.

The house below is in The Bear's Club, Jupiter and is also listed for $ 12.9 million. The Bear's Club is located on the same parcel of land as the Ritz-Carlton, across the street from Frenchman's Creek and adjacent to Admirals Cove. Michael Jordan recently gained publicity for purchasing two lots for a price of $ 4,000,000 to begin building.In any event, this house is 12,297 square feet with 6 bedrooms, 6 full baths and 2 half baths. This price puts these two homes in the $ 1,000 per square foot range.

You can see all homes for sale in Jupiter by visiting my website at
Coastal Florida Real Estate.  Every home listed for sale along with
every picture is there in real time.  No other site has any more or
more current information.





Frenchman's Reserve Community Tour


Take a video tour through Frenchman's Reserve in Palm Beach Gardens. This Toll Brothers community of estate homes is built around an Arnold Palmer Signature Golf Course and features homes from $ 480,000 to around $ 3.5 million.





Interested in Premier Club Communities or a home in the Jupiter/Tequesta area? I can show you any property listed in this area.


Jupiter Farms Homes & Lifestyle

Jupiter Farms is one of our Western Communities. The area is located
just west of the Town of Jupiter and is a Dedicated Equestrian Area.
This means you must be respectful of people riding horses in the Farms.


The home sites are platted at around 1.25 acres and go up to
over 20 acres and prices range from the mid-100's to several
million.

People move to the Farms and our other western communities
for the peace and quiet they afford, the freedom to live without
HOA restrictions and to enjoy wildlife and the extra space.

Even though it may seem like you have driven way out of town,
in fact the Farms is still only about 15-20 mintues to the beaches.



As a Jupiter resident for 10 years and a native south Floridian, I can tell you this is the best of the Jupiter lifestyle. To see any home listed in our western communities contact me.

Take this tour of homes and if you need more information on this area contact me or visit my You Tube channel at http://www.youtube.com/richardsites

My regularly updated website is http://www.coastalfloridarealestate.net/

Richard Sites
Realty Associates
561-762-4072
rsites@coastalfloridarealestate.net

Fiore at the Gardens

Looking for a clean, safe condominium in Palm Beach Gardens?

Looking for a condo that is NOT a short sale?

Then, take a look at this condo located in Fiore at the Gardens.

Fiore is centrally located in Palm Beach Gardens and in addition

to the gated entrance, this community has a great clubhouse with

large covered grill area, fitness center, tropical pool lined with

coconut palms and a volleyball court. It's a popular spot with

young professionals.



Here's a short video on a 2 bedroom, 2 bath condo I have listed in Fiore at the Gardens in the heart of Palm Beach Gardens, FL. This is not a short sale and is available for quick close.

To see this or any other listed property in this area, contact Richard Sites at rsites@coastalfloridarealestate.net.

Richard Sites


Realty Associates


http://www.coastalfloridarealestate.net/

Paseos home in Jupiter Florida

Here's a short video tour of 152 Via Rosina, a home in the central Jupiter community of Paseos.


To see this or any other home in the Jupiter/Tequesta area or our Premier Club Communities, contact me at 561-762-4073 or rsites@coastalfloridarealestate.net

Jupiter Inlet fishing

I was over at the fabulous Jupiter Inlet the other day and came
upon this classic man vs. fish confrontation. Since I was there
to gather photographs for a client, I couldn't help shooting this
epic battle. As we join the fight the score is tied at 0-0. Stick
around till the end to see the outcome.



Looking for a home in Jupiter or Tequesta?
Looking for a waterfront home?
Looking at a great home in a golf course community?

I can show you any home listed for sale. I also post community updates regularly on my You Tube channel which is www.YouTube.com/richardsites
Or visit me at: http://www.coastalfloridarealestate.net/

Richard Sites
561-762-4073
rsites@coastalfloridarealestate.net


Jupiter Inlet, a trip out and back again



Richard Sites
Realty Associates

www.CoastalFloridaRealEstate.net

Carlin Park in Jupiter

Carlin Park, right on the ocean, has long been a family favorite
here in Jupiter. Some of the reasons are covered pavillions, the
Lazy Loggerhead restaurant, softball fields, ampitheater, the
Civic Center, good surfing....or something for everybody.

Located where Indiantown Road (SR 706) meets A-1-A, I shot
the footage for this video on a beautiful Sunday morning.
The waves were good and there were surfers there as well as the
usual families.



Looking for a home in the Jupiter or Tequesta area?
Looking to sell your Jupiter or Tequesta home?

I've lived in Jupiter for nearly 20 years and raised my family here. In addition, I've worked for some of the best real estate companies in the area.

Follow my real estate and community updates on my You Tube channel which is
http://www.youtube.com/richardsites
or my regularly updated website http://www.coastalfloridarealestate.net/

Richard Sites
Realty Associates
561-762-4073
http://www.blogger.com/rsites@coastalfloridarealestate.net
Richard Sites
Realty Associates
http://www.coastalfloridarealestate.net/

Safe Harbor, "No-Kill" animal shelter in Jupiter

Double red flags, the beach vs. the black mamba

Veteran of the Year, Jupiter Christian School 2009



Richard Sites
Realty Associates

www.CoastalFloridaRealEstate.net

Dubois Park on the Jupiter Inlet

High Tide & Big Waves at the Jupiter Inlet

Jupiter Tequesta Real Estate Market Update

Home-Purchase Index in U.S. Plunges to Lowest Level Since 2000

Mortgage applications to purchase homes in the U.S. plunged last week to the lowest level in almost nine years as Americans waited for the outcome of deliberations to extend a government tax credit.
The Mortgage Bankers Association’s index of applications to buy a house dropped 12 percent in the week ended Nov. 6 to 220.9, the lowest level since Dec. 2000. The group’s refinancing gauge rose 11 percent as interest rates decreased, pushing the overall index up 3.2 percent.
The drop in buying plans points to the risk that the recent stabilization in housing will unravel without government help. In a bid to sustain the recovery, Congress passed and the administration signed a bill last week to extend jobless benefits and incentives for first-time homebuyers, adding a provision that also made funds available to current owners.
“Uncertainty over the housing tax credit sent some tremors through the market in recent weeks,” Michael Larson, a housing analyst at Weiss Research in Jupiter, Florida, said before the report. “But now that Congress has extended and expanded the credit, we should see demand pick back up.”

Richard Sites
Realty Associates
www.CoastalFloridaRealEstate.net

Lastest sales figures from FAR

Sales of existing single-family homes in Florida rose 33 percent in third quarter 2009 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. A total of 44,345 existing homes sold statewide in 3Q 2009; during the same period the year before, a total of 33,311 existing homes sold. It marks the fifth consecutive quarter that Florida has seen higher existing year-to-year home sales, according to the state association.Statewide sales of existing condominiums in the third quarter rose 56 percent compared to the same time the previous year. This marks the fourth consecutive quarter for increased statewide sales in both the existing home and condo markets compared to year-ago levels.
Is the recession over...you tell me? I have a theory on this.

Richard Sites
www.CoastalFloridaRealEstate.net

Goliath grouper


The Strategic Default, the skeleton in the closet

Here's another article on the skeleton in the closet.The strategic default, or a voluntary foreclosure, and is fast becoming a major challenge to the government’s $75 billion effort to keep distressed borrowers in their homes. Walking away from a mortgage is serious business – it can knock 100 points off your credit score and make you ineligible for a new mortgage for seven years. Yet, about 588,000 borrowers walked away from homes last year, double the number in 2007, according to a recent study by credit-scoring firm Experian and management consultants Oliver Wyman.
While home prices are rising, the increases pale compared with overall drops in home prices since 2005 that threaten to push millions more homeowners into Sakson’s predicament, owing more than their homes are worth and seeing little chance of rebuilding equity soon.
More will walk away, which will hamper the housing recovery, reinforce lenders’ tight credit policies and drag on the economy’s recovery, economists say. “It’s increasingly a more important factor driving the foreclosure crisis,” says Mark Zandi, of Moody’s Economy.com.
“As we move forward, the job market will stabilize, and the big thing will be strategic defaults. People are going to determine it doesn’t make financial sense to hold on to their homes. That’s going to be a significant problem. Strategic defaults mean foreclosures could be high for a long time.”
It’s not just economists who are concerned about strategic defaults. The mortgage unit of Citigroup says one in five borrowers who defaults does so willingly, even though they’re able to pay the mortgage. “It’s a very large number, and it’s a very, very significant risk to the housing recovery,” says Sanjiv Das, CEO of CitiMortgage, adding that new government programs to curb strategic defaults may be needed.

Mr. & Mrs. Seller, are you aware of the skeleton in the closet?

Richard Sites
Realty Associates
www.CoastalFloridaRealEstate.net

Double red flags, the beach vs. the black mamba



We have been having tremendous winds here along the Jupiter and Tequesta coast for several days. I mean LOTS of wind.




Yesterday, I small tree blew over in my yard. This morning, it was my fruit laden papaya tree which fell into my banana trees. The papaya was so loaded with fruit, we could not stand it back up and had to cut 50% of the unripe fruit off to be able to right it. It still may not live and have to be trashed.




A couple of years ago we went through this same thing where it just blows and blows without ceasing. I had to stand up 3 or 4 trees after that big blow.




So, like all good coastal residents I headed for the beach at Jupiter Inlet. On a day like this, you can hardly find a parking spot since everyone wants to come to see the rough weather. Today thought is a double red flag day....beach closed to swimmers.


This is the sign they update daily with the current beach conditions.
Rip currents claim a few people each year who go out and when caught in a current, try to swim against it until they are exhausted and drown. It happens every year. Of course, it could be worse. In Kenya, experts estimate tens of thousands of people die each year from black mamba bites. And these snakes will come right into your house and can travel up to 12 mph. I doubt you can run that fast! But, you have to go looking for a rip current they aren't coming in your house.
Richard Sites

$ 4,000,000 sale in Jupiter Inlet Colony


What's the saying ....Location, location, location?

On the southern tip of Jupiter Island, (home to Tiger Woods, Celine Dion and Greg Norman), lies the tiny community of Jupiter Inlet Colony. It reminds me of Malibu Colony only a little more modest. OK, a lot more modest but you get the point!

Anyway, even with all the waterfront properties in the Jupiter and Tequesta area, Jupiter Inlet Colony can still claim the most expensive sale in the last 6 months. Not Admirals Cove. Not Jonathan's Landing.Olivia Newton John and her new husband John, known around this area, purchased an Intracoastal home for $ 4,100,000 right around Memorial Day.

Although there is boat traffic behind the house on the weekend, otherwise its a fabulous spot to live. Jupiter Inlet Colony has a secure entrance, although not gated you have to stop right in front of the small police station, and with only one way in and out and plenty of cops, its really safe. There is a clubhouse and several walkovers to the beach where the water always seems to be a little clearer than other places. The beach is open to the public, there's just no parking so you have to bike in.
How did the seller make out? He paid $ 730,000 in 1995. Nice investment, eh?
This is a shot of the front although it hardly does justice to the view out the back with Jupiter's famous lighthouse.
Follow the Jupiter real estate market here or at:http://www.coastalfloridarealestate.net/

Jupiter Riverwalk Fall Concert Series

This Fall, join the Town of Jupiter for a series of waterfront concerts along the beautiful Jupiter Riverwalk! Bring your own chair and enjoy free entertainment on two Thursdays this Fall: November 12 & December 10.

For more information, visit the Town of Jupiter website:http://www.jupiter.fl.us/CommunityDevelopment/RiverwalkFallConcerts.cfm

Richard Sites
Realty Associates
561-7862-4073
rsites@coastalfloridarealestate.net
www.CoastalFloridaRealEstate.net

The World Series and your real estate agent


I'm watching the sixth game of the World Series and thought I would add this thought to the real estate scene.


Recently, I posted on my website an observation that baseball coaches are calm and football coaches aren't because football is haphazard and baseball is a game of statistics. In baseball, they know that numbers tell the story and analyze everthing out as far as three decimals places. They don't say things like, "I think he's a pretty good player", they just look at the numbers.


Trades aren't based on what coaches think, they are based on the numbers.

So, when choosing a real estate agent did you get a thorough, statistical analysis of the market (like an apprasier would do) or did you get a boilerplate CMA with some nice pictures?


Think about it.


Hope is not an effective selling stategy.
Richard Sites
Realty Associates

The Strategic Default

I talked about the newest wrinkle in the mortgage mess, the Strategic Default, on my website: http://www.coastalfloridarealestate.net/.

So, here's the latest. Credit score company Experian and consultants Oliver Wyman reported 588,000 borrowers voluntarily gave up on their mortgage payments in 2008, twice as many as the previous year, USA Today reported.
CitiMortgage, part of Citigroup, said 20 percent of their defaults are the result of homeowners strategically giving up on their loans.“It’s a very large number and it’s a very, very significant risk to the housing recovery,” said Sanjiv Das, chief executive officer of CitiMortgage.

So as I mention every time with a post like this, "Mr. & Mrs. Seller are you taking this into consideration?"

See my other posts on: Are you a baseball or football coach?

It was Jim Morrison who said, "No time to wallow in the mire..." If you're too young to know who JM was...Google him.

REMEMBER: Hope is not an effective selling strategy!!

http://www.coastalfloridarealestate.net/

Richard Sites
Realty Associates
rsites@coastalfloridarealestate.net

Second wave of foreclosures--Zillow & Larry the Cable Guy

OK, here it comes again.
All we hear is how the $ 8,000 credit is pumping life into the market, but if you drill down you will see the activity is in the under $ 300,000 market. Hey, if $ 8,000 is good, why not raise it to $ 30,000 and let's get rid of some of the million dollar homes??
But lurking out there is the second wave of forclosures.
To quote the movie Poltergeist: "They're back"

Stan Humphries, chief economist for Zillow.com:

We haven’t seen much of an effect from the loan modification programs from the government. It’s possible that individual lenders in South Florida are working with borrowers to prevent foreclosures, but I don’t have any first-hand knowledge of that. Nationally, we do know that there are 1.4 million homes that are seriously delinquent but haven’t entered the foreclosure process and another 1.5 million that are currently in the foreclosure process but haven’t yet been foreclosed. That’s almost 3 million homes potentially headed for foreclosure – a big number considering annual home sales are only 5 million. The prevalence of foreclosures will vary by market, but it is clear that nationally, we’ve got a lot more foreclosures ahead of us.

If you've got a house out there to sell, you better think about this very seriously.

Remember, Hope is not an effective selling strategy!

To paraphrase Larry the Cable Guy, "Git 'er sold"

Richard SitesRealty Associates-FL Properties
rsites@coastalfloridarealestate.net
www.CoastalFloridaRealEstate.net
561-762-4073
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