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6279 Riverwalk Lane Unit 5 Jupiter FL 33458

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I showed the property at 6279 Riverwalk Lane Unit 5 Jupiter FL 33458 to an investor today and thought I would share my thoughts.  This is a terrific location for a well priced town house DIRECTLY on the Loxahatchee River.  It was built a as a 3 bed but was then used as 2 bed plus a loft with 2 full baths upstairs and a half bath down.  The unit is HUGE for its type at 1630 s.f. under air.  It has a descent sized front porch perfect for storing bikes and the like as well as a huge screened back porch which looks at a grass area and the river.  The owner has kept the property maintained but has done little in the ways of updates.  They have installed a masonry stem wall and storage bin in the back and the unit has a hardi plank siding over wood frame which looks to have been well maintained.  The unit is an Islander floor plan.

Riverwalk Islander Floor Plan
Islander Model Floor Plan in Riverwalk in Jupiter Florida

November 2015 Palm Beach County Housing Sales

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The Realtors Association of the Palm Beach (RAPB) just released the sales numbers for November 2012.  These show a 6.5% increase in the number of single family home sales and a 13.5% increase.  In Jupiter there’s continuing trend of fewer sales but for more money.  In October 2015 there were 163 sales with a median price of 321k.  In November we had just 130 sales with a median of 320k.  And still just 690 units for sale in ALL of Jupiter.

 

 

 

 

November 2015 Palm Beach County Housing Sales

 

 

 

Water Club Phase II

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On Thursday December 10th the Village of North Palm Beach City Council heard a ‘first reading’ two ordinance affecting the property at 1240 US Highway One (Water Club) owned by Domani Development, an affiliate of West Palm Beach-based Kolter Group, to:

  • Rezone the parcel from C -1 Neighborhood Commercial Zoning District to the R -3 Apartment Dwelling Zoning District.
  • Amend the approved PUD to allow for another tower to be built at this location.

The site was acquired  for $4.7 million in December 2014 and the 25,780-square-foot office building there would need to be demolished to make way for the condos.

This is THE LINK to the pdf of the presentation to the North Palm Beach Panning Board.

The project would have two levels of parking and then two condo units per floor. The units would be 2,900 and 3,400 square feet.  The change in zoning would allow for 30 residential units at the site.  Assuming two units per floor in addition to 2 floors of parking then there will be a 17 story building there.

The first phase of the Water Club is currently under construction with two 22-story condo towers for a combined 166 units.

2015 Profile of Home Buyers and Sellers

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I took a look though the stats of the 2015 NAR Profile of Home Buyers and Sellers the other day and here’s what I noted:

First-time buyers made up 32 percent of all home buyers.   And, first-time buyers who financed their home financed 94 per-cent of their home compared to repeat buyers at 86 percent.  No surprises here as the most difficult thing for first time buyers to do is to save up a down payment
The typical buyer was 44 years old, and had a median household income of $86,100.  And the typical home seller was 54 years old, with a median household income of $104,100.  Why?  Because home sellers cited that they sold their homes for a median of $40,000 more than they purchased. If you plan on being in your home for more than about 2 years then even with transaction costs owning a home is a smart move.
Thirteen percent of home buyers purchased a multi-generational home to take care of aging parents, for cost savings,and because children over the age of 18 are moving back home.
Home prices increased slightly this year to a median of$220,000 among all buyers. Buyers typically purchased their homes for 98 percent of the asking price.  Around Jupiter prices have come up by about 10% and Sellers typically get about 95% of the asking price.
Heating and cooling costs were the most important environmental features for recent home buyers, with 84 percent finding these features at least somewhat important.  Pay attention Sellers, the condition of your AC is a major concern.  Replacing it is the least expensive upgrade probably only second to changing the appliances to stainless steel.
Overall, buyers expect to live in their homes for a median of 14 years, while 23 percent say that they are never moving.  However,  Sellers typically lived in their home for nine years before selling.  YOUR HOUSE WILL BE A 10 YEAR PLAN.
For 42 percent of recent buyers, the first step that they took in the home buying process was to look online at properties for sale, while 14 percent of buyers first contacted a real estate agent.  
Eighty-seven percent of buyers recently purchased their home through a real estate agent or broker, and eight percent purchased directly from a builder or builder’s agent.
Eighty-nine percent of home sellers worked with a real estate agent to sell their home.   And, ninety-one percent of sellers listed their homes on the Multiple Listing Service (MLS), which is the number one source for sellers to list their home.
It follows that 90% of all homes sold are entered into the MLS and this data is used by Realtors to find homes for their Buyers.  THE MLS DATA IS USED NOT ONLY BY AGENTS WHO ARE LOOKING FOR THEIR BUYERS BUT  IT IS ALSO USED TO POPULATE DATA ACROSS THE INTERNET SUCH AS ZILLOW, TRULIA ETC.  AS A TACTICAL MATTER IS IT 90% OF THE MARKETING FOR A PROPERTY.  CHECK IT.  DOUBLE CHECK IT.  ADD DESCRIPTIONS TO EVERY PICTURE.  THIS IS 90% OF THE GAME!

Sonoma Isles by DiVosta in Jupiter Pricing

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Sonoma Isles by DiVosta in Jupiter just released the pricing of their units.  From

$607,990 – for a 3 bed, plus a den and 3 baths with 2488 s.f. under air.  This is 244/s.f. 
$848,990 – for a 5 bed, plus a den and 5 full baths with 5,146 s.f. under air.  This is 165/s.f.
As always, the best price per square foot is on the 2 story homes.  One can expect to be upgraded on the lot and house by at LEAST 10%.  These are new homes and thus one can expect to pay a premium but the prices are in line with other similar featured neighborhoods in the area such as Rialto and below what homes are selling for in Jupiter Country Club.
As of today 3 out of 35 homes in the first phase of construction have been sold.  In total there will be 275 homes on a total of 260 acres located at 4177 W. Indiantown Road, Jupiter, FL 33478

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From Our Blog

1208 Marine Way, 803, North Palm Beach, FL

1208 Marine Way, 803, North Palm Beach, FL
1208 Marine Way, 803, North Palm Beach, FL

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1208 Marine Way, 803 is located in the Admiralty Building in the gated neighborhood of Old Port Cove in North Palm Beach, Florida. Enjoy your morning coffee sitting on your balcony watching the sunrise over the beautiful marina and water views. This unit has been fully renovated with FULL IMPACT HURRICANE windows and doors, tiled flooring, newer AC and water heater, white kitchen with newer […]

Who pays the fee for the Closing Agent in Florida – 2025

Who pays the fee for the Closing Agent in Florida - 2025
Who pays the fee for the Closing Agent in Florida - 2025

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If you had to Google the answer to this then you need to work with someone who knows these things. Call me, Chris Ryder, at 561.818.3858. This just changed. Historically, the party that chooses the Closing Agent pays their fee. Thus, the Closing Agent was paid by the party that chose to use them which was a check box on the Contract. In a cash […]

2025 New Year, New Condo Rules

2025 New Year, New Condo Rules
2025 New Year, New Condo Rules

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Source: New Year, New Condo Rules To see these changes review the new condominium rider… CR-7_A. Condominium Rider New Year, New Condo Rules By Heather Rhodes Starting Jan. 1, condo sale contracts must include conspicuous statements about the milestone inspection, turnover report and structural integrity reserve study. ORLANDO, Fla. — A new year, another condominium law. We ring in this new year with a 2023 […]

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