Jim Jacobs' Blog: All Categories

The pace of sales has picked up steadily in North Palm Beach. In January there were 11 homes sold in North Palm Beach. In February there were 16 sales and they picked up to 19 in March. In April there were 29 sales and in the first 9 days of May there were 9 sales.

You can assume the homes that show sold today went under contract 30 to 120 days ago. If we assume a 60 day lag from under contract to sold, then those houses went under contract in November (11), December(16), January(19) and February(29) and one a day in March.   If you look at the figures for Northern Palm Beach County they reflect almost the same trend. We track the homes offered for sale, sold, expired, etc. for the area from Northlake Blvd to Hobe Sound and out to Jupiter Farms. Click… Read Full Post

Old Port Cove is a nice development in North Palm Beach Florida.  There are 1053 units in 6 separate subdivisions. There have been seven units sold in April. 

Click on RMLS RES Customer w/Agent Info to look at those specific sales. There are 127 listed for sale in Old Port Cove as of today. That is about an 18 month supply at today’s pace of sales. That is down from about a little over a 24 month supply a year ago. 

The number of units on the market is down a little more than 10% overall from last year. Sales have not increased markedly, but interest has picked up dramatically in the last 3 to 4 weeks. It appears that buyers are finally realizing that there are some very good bargains available and interest rates are low by historic standards. If we are… Read Full Post

The following article is from the South Florida Business Journal.  It reflects the increased interest from buyers.

The freeze on Florida home sales is thawing a bit, but home prices are still very much depressed.

Statewide, sales of existing, single-family homes were up 13 percent in the fourth quarter, compared to the same period a year prior, according to the latest statistics from the Florida Association of Realtors.

It marks the second consecutive quarter that the Sunshine State has reported a rise in home sales.

A total of 30,163 existing homes sold statewide in the fourth quarter, up from 26,635 existing homes sold during the same quarter in the previous year.

The state trade group also reported a 3 percent gain in statewide sales of existing…

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In northern Palm Beach County the number of distress sale of homes is seen as a huge problem. The word on the street is they make up as much as 40 % of the market and are really dragging down values. The question is this; just what percentage of the market is really distressed and how is it affecting the overall market?

From Northlake Blvd to County Line Road, from the ocean to Jupiter Farms there were 4736 homes for sale on the MLS. Of those there were 306 that are in the distressed category of Short Sale or Bank Owned foreclosed.   If you would like to look at these figures yourself, go to http://www.yourultimateteam.com/foreclosuresandbankowned.php And take a look. This is about 6 % of the market and is a factor, but not the dominant one.   If we… Read Full Post

Palm Beach Country Estates, Palm Beach Gardens

          Palm Beach Country Estates, a country setting community is conveniently located in Palm Beach Gardens to the west of I95 at the end of Donald Ross Road.   You will find elegant country living in Palm Beach Country Estates with various size homes built on nice sized lots with over an acre, great for those animal lovers or equestrians who would like to have a little room and be close to nature. It's also very close to town, so without a long drive, you'll have some of the finest shopping available, and enjoy great restaurants.  There is easy access to I95 and only about 20 minutes to Palm Beach International Airport.  Beaches and fishing are less than 10 minutes away.  A great golf course is even…

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Old Port Cove is a 60 acre condo complex in North Palm Beach.  It includes it's own Old Port Cove Marina, Old Port Yacht Club, eight towers and one low-rise Condominium. It is a secure community witha maned gate and roving guards.  It is beautifully landscaped including the long seawalled waterfront. 
     Lakepoint Tower
     Cove Towers
     Marina Tower
     North Quay and South Quay
     Admiralty Towers
     Harbor Village

The complex has waterfront on three sides.  You can enjoy the 2-mile walking/jogging trail with most of it is having the fabulous views on the waterfront.  All the Condominiums have their own pools and exercise rooms.  You can walk to the Yacht Club for great meals and social activities.  Keep your yacht of…

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Jupiter Farms is an area of large lots and individual homes. There are no large developments in Jupiter Farms. The homes were mostly built one at a time and are sometimes very different in design and structure.   The home at 12971 174th Place N in Jupiter Farms is a prime example of gracious country living. It is a large cement block construction home on a paved road with easy access to shopping, the turnpike and the beach. The home has a large, screened in pool and patio area that draws you outside for relaxation and enjoyment. Inside there are four bedrooms and three bathrooms. One bathroom opens directly onto the patio and pool area. The home sits on over an acre of land with lush lawn and all enclosed by a fence. There are native plants, tropical… Read Full Post

Buyers that wait for the very bottom of the Palm Beach Gardens market will in all probability miss it. By the time it is apparent to everybody that the market is climbing, there will be a 5 % or so adjustment from the real bottom. If you waited to buy a $600,000 home in Palm Beach Gardens for $400,000 when you could have bought it for $500,000, you will now pay $525,000 if you want to buy it. That is still a good buy, but by trying to get the last dollar from the seller you will probably miss the sale or pay more for it.   If you look at the single family homes for sale in Palm Beach Gardens there are about 1,000 of them. We are on track for about 750 of them to sell this year.   There were 626 sold in 2006 and 1,086 in 2005. If the pace of sales pick… Read Full Post