13 January 2016 update: Very interesting. This place does not show well at all but still an interest sign. The price has been reduced yet again to 249.9k. Again I see units that are priced well but the market is simply not responding.
14 December 2015 update: This property is still sitting there and they just reduced the asking price from 309.9k to a ‘that’s more like it’ asking price of 279.5k. Again, my thoughts on this unit are that it should sell around 260k.
I went to view the new bank owned listing (aka REO) in Sea Colony in Jupiter yesterday at 209 Mainsail. A flurry of activity in there these with all the repairs going on. Sea Colony is a terrific community, gated, a manned gate at that, tennis courts, a nice pool area, on site managers and above all it’s an easy walk to the Jupiter Beach.
So, this place is in tough shape. All original everything, kitchen, baths, flooring etc. The AC needs to be replaced. And after all that the unit has a western exposure view of the parking lot. My saying of ‘everything is worth owning at the right number’ would dictate a sale of this property someplace around 260k. This would allow for renovations of the property and end up around 310-320k. Otherwise one would be better off to look at 706 Mainsail which is fully renovated, east exposure and a FAR better floor plan. A big problem with 209 that can not be fixed is that the 2nd bedroom is a loft right now. So OK but that can be enclosed as it does have a closet. BUT the second bath is upstairs on what is actually the third floor. In both these units one must go up a flight of stairs to the living area. So in unit 209 if one has guests over for dinner they must use the only rest room that is not the master bath which is upstairs. Awkward at best. 706 not only has an east exposure but a view of some green space and an OCEAN view from the master which for that floor plan is on the third floor.