I showed the house at 11352 Briarwood Place in the Twelve Oaks community in North Palm Beach recently. This house was fully renovated by the current owner and is very nicely done. This model has the master bed and bath on the first floor with a half bath for guest use and then up stairs it has a loft and 2 bedrooms with a hallway bathroom.
719 Ocean Dunes Circle Jupiter FL in Ocean Dunes
I showed this bank owned unit in the Villas of Ocean Dunes on Saturday at 719 Ocean Dunes Circle Jupiter FL. This town house in Ocean Dunes is a very nice sized 3 bed unit with all 3 beds and 2 full baths up. Downstairs has a large living area and a separate kitchen with family style dining area and a half bath for every day use. The kitchen is updated but not over the top with OK cabinets, new appliances and laminate counters. The counters are an easy fix. The half bath down and the master bath need some work but both are functional. BTW, the clothes washer and dryer are in the downstairs bath. The unit does not have a garage which is certainly a negative on a 3 bed unit but other than this is a good deal for the size of the unit. I also heard that although the community is one of townhomes they have a condominium style insurance policy on place and have made a successful insurance claim for new roofs. So all of these are getting new roofs. This unit backs up to the wall separating the community from the bluffs plaza but the wall is not ‘tight there’ so this is not a negative as I see it. Also, this is the high ground in the community and higher ground is always preferable in Florida. The unit has been for sale since 05/23/16 so why hasn’t it sold? Master bed is upstairs and no garage. If this is OK with you then at this price per s.f this is a good deal.
02/20/18 – Looks like the sealed bid offers were not acceptable so the property is once again for sale asking 325k
Palm Beach Country Estates Flood Zones
With the new (Oct 2017) flood maps the area of Palm Beach Country Estates that is in a Special Flood Hazard Area (SFHA) got a bit larger.
Effective Flood Zone (October 2017): AO
Description: Subject to 100-year shallow flooding (usually sheet flow on sloping terrain) with average depth of 1-3 feet. Base flood elevation undetermined
This is the area shown as aqua (teal) dotted area in this picture is in the AO flood zone…
Post FIRM Palm Beach County Construction
Pre FIRM and Post FIRM dates are used to determine which Flood Insurance rates to apply to a house and I had been using 1974 as this date but I just learned something.
“Post-Flood Insurance Rate Map (FIRM) buildings are new construction and those built after the effective date of the first FIRM for a community. Insurance rates for Post-FIRM buildings are dependent on the elevation of the lowest floor in relation to the Base Flood Elevation (BFE).”
The date for determining pre and post FIRM constructions varies from town to town and varies significantly. One must look at the NFIP Community Status Book. In this book take note of the “Init FIRM Identified” column. If this date is before 12/31/1974 then all construction in that community before 12/31/1974 is pre-FIRM. If however this date is POST 1974 then all construction in that community is pre/post FIRM before/after that date.
| Init FIRM | Pre-FIRM | |
| Identified | Date | |
| Jupiter | 09/22/72 | 12/31/74 |
| Palm Beach Gardens | 01/03/79 | 01/03/79 |
| North Palm Beach | 08/15/78 | 08/15/78 |
| Tequesta | 06/11/71 | 12/31/74 |
| Juno Beach | 12/01/78 | 12/01/78 |
| Palm Beach County | 02/01/79 | 02/01/79 |
So, why does this matter? Because if your home in say Palm Beach Gardens was built prior to 01/03/1979 then you are eligible to use the pre-FIRM Insurance rates.
And you can do things like apply for a Letter of Map Revision from FEMA for FREE.
Why does my FICO score matter when buying a house?
Why does my FICO score matter when buying a house?
A picture is worth 1000 words on this one but basically if you have a FICO under 600 don’t bother. If you have a FICO score less than 640 then you have a 1 in 10 shot of getting a loan.
When does roof age matter in Real Estate – South Florida?
When does roof age matter in South Florida Real Estate? This comes up all the time. People want to know how old is the roof? And for good reason.
Why does it matter how old the roof is? First, this is a big ticket item that has a life span so it does affect the value. You may be able to ‘live with’ the old kitchen but if the roof no longer keeps the rain out then NG. Second, if a roof is too old then one can not get insurance on the property. No insurance then no loan, no loan then no sale. Unless one is a cash buyer but they will ALWAYS want a discount. How old can the roof be and still be insurable? THIS VARIES FROM ONE COMPANY TO ANOTHER and can change at any time. For Citizens Insurance, the answer is:
“Roofs older than 25 years (shingle or other type) or 50 years (tile, slate, clay, concrete, or metal) require documentation showing at least three years remaining useful life. A Florida-licensed inspector must conduct an inspection of the roof to check for any visible signs of damage or deterioration. When a roof has less than three years of remaining useful life, the homeowner must provide proof of a full-roof replacement to the inspector before any policy is written on the home.”
Now Citizens underwriting is subject to our Sunshine in Government laws so we know what the times are. What about other insurance carriers? They are free to establish any underwriting criteria they wish but GENERALLY SPEAKING ROOFS OLDER THAN ABOUT 20 YEARS ARE DIFFICULT TO INSURE THROUGH ANYONE BUT CITIZENS.
And, if one can not get insurance on the property then one can not finance it.
So, if you are selling a property with an old roof (20+) it is probably worth putting a new roof on it.
If you are buying a home with a roof that’s 15 years old you should be saving for a new roof to be installed.
If you are financially able you may be able to get a good deal on a house because it needs a new roof. You will add the cost of the new roof into your permanent financing but these are non conforming loans so the rates are about 1/2% higher than the typical Fannie/Freddie loans.
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