When REALTORS refer to a “stable market” it is between 5 and 6 months of inventory. At the end of June 2012, Jupiters inventory of single family homes was 5.7 months according to Trengraphix. There has been a great shift from last years Buyers market to now. Because of this, we have also seen an increase in multiple offers on listings and realistically priced homes under contract in a matter of days, even hours.

What does this mean for Sellers? We always encourage our Sellers to present their home at its best. A clean, uncluttered home shows best and Buyers can envision themselves living there. If there are minor repairs you have been putting off, fixing them before listing your home may help decrease the time its on the market and increase that offer that is presented to you. While the competition is tight, you want to see the highest and best offer possible for your property. If you are ready to sell, price it well and Buyers will respond.

What does this mean for Buyers? Work with a REALTOR who is willing to help you understand what is happening not only in our market, but in each neighborhood you are interested in. South Florida does not exemplify what is happening in real estate around the rest of the country. Trends can change dramatically from neighborhood to neighborhood. We offer a variety of tools to keep you informed. If you are financing, have your pre-approval in hand. With multiple offers returning as the norm, make yours stand out with a preapproval letter from your lender. If you are serious about buying, be ready to take that step homes are not staying on the market very long. Work with a REALTOR you trust to guide you through the negotiating process- they are there to help you! For more information about the real estate market in Jupiter, Florida, contact David Shockley and the Waterfront Elite Team (561) 262-6726.

When the market took a nose dive, you could project a great home in a fabulous location would sit on the market approximately six months to a year. Gone are the days of waiting for a price reduction to bargain your way under market value. So what has changed? Do consumers really have a more positive outlook on the economy? Are Buyers less afraid of the financial commitment that comes with a new home? Are real estate agents are more realistic with their pricing? And are Sellers are more realistic in what they are asking?

Lately we are seeing the real estate market return to its competitive nature. A well-priced home has the potential to produce multiple offers in a matter of days, even hours - not months like years past. We are seeing less “low-ball” offers, rather highest and best in the first shot knowing that the property may not be available the next day.

So what does that mean for those thinking of Buying or Selling?

1. BE PREPARED If you are Buying, have your Letter of Pre-approval, Pre-qualification or Proof Of Funds in hand! Sellers do not want to waste their time if there is any financial uncertainty with the Buyer. For Sellers, put your best foot forward. Make sure your home is as appealing as possible, clean and clutter-free. First impressions are the most important!
2. EDUCATE YOURSELF This is where a qualified real estate agent comes in. Know what is happening in your own neighborhood and your neighborhood of interest. What has sold recently? What condition was it in? Were there any external factors? Are there any assessments, current or upcoming? The more you know, the more confident you will be in making or accepting an offer.
3. BE REALISTIC Are there still great deals out there? Absolutely!!! As long as your expectations as a Buyer are reasonable. Can you expect to get a Foreclosure for half price (as we have been asked almost daily)? Confidently, we can say no. And are Foreclosures and Short Sales the only bargains to be had? Again, no. Foreclosures and Short Sales are rapidly coming up to market value, creating even more competition. For Sellers, there may be great emotional attachment to your property. Have your real estate agent run a thorough Comparative Market Analysis. If the numbers come out lower than you expected you cant take it personally. A Buyer is not going to pay more because a Seller thinks their home is fabulous. If you are not willing to price your home realistically, you will end up sitting with it on the market for an indeterminable amount of time. If you are looking for the most bang for your buck, have an educated agent by your side.

For more information on Buying or Selling real estate in Jupiter Florida and the surrounding communities, please contact David Shockley and the Waterfront Elite Team.

1. Kiawah Island, South Carolina
2. Naples, Florida
3. Sausalito, California
4. Lake Bluff, Illinois
5. Tiburon, California
6. Laguna Beach, California
7. Half Moon Bay, California
8. Chatham, Massachusetts
9. 9. Jupiter, Florida
10. Lahaina, Hawaii
11. Marblehead, Massachusetts
12. Stinson Beach, California
13. Cohasset, Massachusetts
14. Duxbury, Massachusetts
15. Solomons Island, Maryland

Full of sunny days and sandy shores, Jupiter is an amazing place to be any time of year. David Shockley is a local REATOR specializing in Jupiter, Florida real estate. Whether you are thinking about moving to Jupiter, FL or coming for an extended vacation, contact us for more information on the local housing market. We are proud of our beautiful town, its pristine beaches and colorful locals!

See how Coastal Living developed this list and read the full article, or pick up the May 2012 edition on stands now!

Take a look at all the listings here @ Scrimshaw on the Bay