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Housing sales data for Jupiter and Palm Beach Gardens for July 2021
The Realtors association of the Palm beach and Greater Fort Lauderdale has released the housing sales data for July of 2021. No big surprises here as the housing sakes remain extraordinarily strong.
Risk Rating 2.0 Changes to Flood Insurance
BIG changes are coming to the National Flood Insurance Program and this will have a HUGE affect on Florida Real Estate and in particular along the coast. I recently attended a seminar on this new system intended for insurance agents and here are some of my “take aways”
There will no longer be a “Preferred Risk” policy. This is the $500/yr policy for those NOT required to have a policy by their lender. All policies will be individually rated for risk and the cost associated with that risk.
The Flood Insurance Rate Maps (FIRM’s) will ONLY be used to determine IF your lender will require you to have a flood policy.
The whole notion of a Base Flood Elevation (BFE) is going away. This is crazy. Your policy risk and premium will no longer be determined based upon open and available information being the BFE is 9′ and my first floor is 10′ so I’m good. Or my first floor is 12′ so I’m great. Elevations will be considered for ALL properties. From October onward, “Standardized rating tables will no longer be used, rates will be calculated using an algorithm.” Just exactly what that algorithm is, no one will tell you. Seriously. What they say will affect the pricing of new policies includes:
193 Porgee Rock Place Jupiter FL
The home at 193 Porgee Rock Place in Jupiter FL is located in the Rialto community.
Beautifully appointed Georgio model in the resort style community of Rialto! This 4BR 2.1BA 2CG single story CBS home offers impact windows and doors, split floor plan, LED hi hat lighting, wainscoting, plantation shutters and crown molding throughout. The Kitchen features stainless appliances including cooktop/double convection oven, convection microwave and island with breakfast bar. Master en-suite offers dual vanities, walk in closet with built ins, roman tub, and oversized walk in shower. Second full bath also offers dual vanities and walk in shower. Other features include a covered rear porch and fenced in yard with privacy. Freshly painted interior and exterior. Amenities include pool, clubhouse, tennis, fitness center and basketball all for a low monthly HOA fee.
This data is courtesy of: Illustrated Properties LLC
#Rialto
Jupiter and Palm Beach Gardens Housing sales for March 2021
The sales numbers for March were just released by the Realtors Association and once again, no big surprise. The market is going up at a rapid rate and disproportionately so in the high end communities. Places like Admiral’s Cove in Jupiter and Old Palm in Palm Beach Gardens which historically had a a low “velocity” of sales have seen years of inventory absorbed in just a few months.
1420 Ocean Way 21a Jupiter, FL 33477
1420 Ocean Way 21a Jupiter, FL 33477 in Jupiter One
**Less than half a mile to the beach**Spacious townhome in a very desirable location. Rarely available in recent times.Pet friendly community with a pool, tennis courts and shuffle board. 2 bedrooms, 2 full bathrooms and a half bath. Private courtyard and a parking space outside your door.
#JupiterOne
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