Tequesta, FL Real Estate News

By Tom Priester, Paradise Sharks
(Paradise Sharks )
May Home Sales in Tequesta down by 17%   As we sit here with only a week we go until we flip the page to July the south Florida real estate market remains quite vibrant. Constantly changing, it is that time to look back on the final sales number for the previous month to see just what has happened since our last report. No doubt inventory levels remain a main topic around the water coolers of brokerage offices throughout Palm Beach and Martin Counties.   But there is other news and perhaps the most significant when it comes to the future direction of the market relates to interest rates. This morning we wake with the average overnight rate on a 30 year fixed mortgage hitting levels we have not seen for an amazing 94 weeks. Sitting at 4.24% we are up a very significant 22 basis points fr...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Tequesta Falls Another 4% Another month has passed us by with the South Florida real estate recovery continuing to move forward seemingly with no obstacles in its way. Another month of extremely strong sales was followed by signs that absorption rates had increased but the big news on everyones radar has been interest rates. If you haven’t followed what has happened to rates since our last update on home inventory in Tequesta and the surrounding communities then it is time to take notice.   What has transpired since then has been remarkable with the average overnight rate on a 30 year fixed mortgage moving higher by a rather stunning 22%. During the past month those rates have moved from near records lows at 3.42% to 4.16% as of this morning and the highest levels we h...
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By Mark Loewenberg, KW 561-214-0370
(KW of the Palm Beaches)
Tequesta Florida 33469 Price Trends - Sold vs. Listed June  The median list price in June for single family homes in Tequesta is $700,000. The list prices increased by 3.7%from the previous month. The price per square foot for listings in this area is $288. The median sale price in March forsingle family homes is $410,000. The sale prices increased by 34.42% from the previous month. The price per square foot for sales in this area is $136. Looking for homes or lots for sale in Tequesta Fl in the 33469 zip code?   Visit: http://www.forsalehomesearch.com/listings/areas/129386/maxprice/400000/propertytype/SINGLE/listingtype/Resale+New,Foreclosure+Bank+Owned,Short+Sale/ Or call Mark Loewenberg PA anytime at 561-214-0370
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Absorption rate in Tequesta sits at 9.11 months Memorial Day is in the rear view and that means summer has arrived in South Florida. Buyers are hoping that inventory levels of homes available for sale increase as many are frustrated at the lack of choice available in today’s markets. What was a fever will heat up even more if interest rates do not back off from the increases we have seen over the past couple months. As of this morning the average overnight rate on a 30 year fixed mortgage sits at 3.75% which is up almost 10% from where we stood just 3 short weeks ago. After three straight weeks to the upside most are looking for those rates to back off a bit this week and time will tell.   Each month at this time we take a look at the absorption rate in Tequesta and the surrounding comm...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
Closed sales in Tequesta Florida have remained hot during the winter season with April closing showing strong gains.   The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source. Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates trust and develops relationships to make educated decisions when it comes to buying and selling real estate. I hope you enjoy the reports and look forward in discussing any questions that you might have in one of the most desirable real estate markets in Palm Beach County Florida,     Tequesta, FL Overview Tequesta, FL CommunitiesTequesta, FL Virtual TourTequesta, FL Single Family HomesTequesta, FL Condos and Single Family...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
April Home Sales in Tequesta Up Big Again by Another 28% Another month has passed us by and the summer months are staring us straight in the face. This means less traffic at our favorites beaches and restaurants but also the start of hurricane season which we pray is a quiet one. We want to remind our neighbors to always be prepared as the numbers are starting to work against us. A major hurricane is one with winds of more than 111 miles per hour and the last time one crossed into our country was way back in 2005. This is the longest stretch since records have been kept and add in the fact that the Atlantic waters have warmed considerably over the past few months and you see why experts are predicting a 72% chance that a major hurricane will make landfall in the US this year.   So while...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Tequesta Hits Another New Multi-Year Low The amazing turnaround in the local real estate markets continues unabated with no end in sight. New home communities are jammed with anxious buyers who have been unable to find suitable properties in the resale market and prices continue to rise. The broad based recovery continues to pick up steam and last months sales were amazing considering the lack of choices many buyers face. We are seeing a bit more confidence in the job market as last months government reports showed a sharp turnaround driving more and more buyers to the market to take advantage of interest rates that were testing record lows last week before spiking 11 basis points so far this week.   Nationwide we are seeing similar statistics with CoreLogic reporting ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Absorption rate in Tequesta sits at 7.47 months May has arrived in South Florida and the dynamic real estate market shows no signs of slowing with inventory of well priced homes continuing to fall. Sales have been spectacular and pricing pressure remains firmly to the upside. If you happen to be looking for a home anywhere in Palm Beach and Martin Counties you know all too well how difficult that task can be.   The overall economic picture remains somewhat unsettling with signs that it may be weakening; even the Fed in their statement this week said fiscal policy is restraining economic growth. Concern that tax increases and spending cuts are slowing any growth in the economy is growing. The last jobs report was plain dismal with only 88,000 jobs added in March compared to the pace of 2...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
March sales showed a rise in prices but inventory and available units for sale are shrinking. The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source. Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates trust and develops relationships to make educated decisions when it comes to buying and selling real estate. I hope you enjoy the reports and look forward in discussing any questions that you might have in one of the most desirable real estate markets in Palm Beach County Florida,  
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
March Home Sales in Tequesta Up 64% Stunning. That single word can describe the sales activity in the northern Palm Beach County region for the month ending April 1st. We all know too well about the shortage of inventory that has been the top story for many months. Buyers are everywhere but well priced homes in good condition are tough to find and eager shoppers have made their way to new home communities where sales are brisk. Builders too are quickly running out of lots and we have seen prices in new home communities increase dramatically over the past 6 months. Keeping in mind that most of these new home sales do not make it to the numbers reported by our Multiple Listing Service make this months report even more stunning.   Buyers are frantic and prices are being driven higher on a ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Tequesta Down 6% in April Another month has rolled by and frustrated home buyers are on every corner in south Florida. Finding a home is not an easy task and even a well defined game plan needs a bit of luck to meet with success. The plain truth is there just are not enough homes out there to meet current demand and prices continue to move higher. This week we had a client arrive ready to start their south Florida life and is a great example to show you exactly what it is like on the front lines.   Their needs were clearly defined, both doctors with two young sons and the school district already decided after meetings with school staff were completed. Their budget is generous, over $500K, and they simply required a 4 bedroom home and would prefer newer construction. Be...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
Tequesta, FL Overview Tequesta, FL CommunitiesTequesta, FL Virtual TourTequesta, FL Single Family HomesTequesta, FL Condos and Single Family HomesTequesta, FL Lot and LandTequesta, FL Golf CoursesTequesta, FL MarinasTequesta, FL Dining Guide Tequesta's natural beauty and serenity of the river to the deep blue ocean, tempts people in search of a pleasant friendly environment. This village has a unique history around its founding. In 1955 a bridge tender was asked by Charles Martyn to describe the area that is now the Village of Tequesta. His reply was, "It’s just a jungle". Inspired by the remarks, Martyn asked for a tour of the area. As the two men traveled the Inlet and intracoastal waterways by boat, Martyn was immediately intrigued by the natural beauty and potential of the area. He ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Absorption Rate in Tequesta Improves by 22% There is plenty of good news that still surrounds the real estate market both locally and on a national basis. Interest rates declined by the largest one week move in 6 months last week and while the cost of borrowing money declined the frustration level of buyers seeking that perfect home continued to increase. Finding the right home to purchase at the right price is a lesson in futility as well priced new listings are met with a parade of Realtors® with their clients in tow as sellers continue to get lightning quick offers at prices well above what they could have expected a few months ago.   There are signs that the investor market is starting to cool a bit and we are seeing rental properties in many areas taking longer to find tenants with...
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By Waterfront Properties
(Waterfront Properties & Club Communities)
Located 18 miles north of the celebrated Palm Beach Island, is the quaint village of Tequesta This riverfront community features both single-family Tequesta homes and condominiums. Tequesta offers a number of golf course communities that boast gorgeous elevated lots with views of the fairways and nature preserve. Tequesta riverfront homes in communities claim waterfront views, private boatlifts and docks for their residents.  Tequesta has quick access to all the towns along the coastal route. So for the boating enthusiast, owning a piece of Real Estate in Tequesta will grant you access to miles and miles of traversable waterways. The Saint Lucie Inlet Preserve State Park offers plenty of opportunities for boating, fishing, snorkeling, diving and picnicking. Just minutes from the homes i...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
February Home Sales in Tequesta Up 57% It is that time of the month when we take a look at the sales numbers of homes sold in the northern Palm Beach County region. As the market continues to shift and with the lack of inventory, buyers are coming to terms that things are different, very different. Those looking to find that “deal” of the perfect house at a discount of 30% because it is a short sale are being left behind as other buyers who understand the competition are bidding higher prices in order to secure a home amidst the dearth of new well priced listings.   Sellers are also finding out that pricing above what the current market will bear means their listing sits there and becomes stale. However, when they decide to put a reasonable value on the property they will quickly be und...
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By Donald Urschalitz, P.A. Realtor ABR RSPS North Palm Beach County
(Lubeck Realty Group)
  The biggest benefit in this monthly marketing report for our readers is to provide content rich local information from a trustworthy source The Realtors® Association of the Palm Beaches. . Understanding that an educated buyer and seller when provided with the latest facts in our marketplace creates trust and develops relationships to make educated decisions when it comes to buying and selling real estate. I hope you enjoy the reports and look forward in discussing any questions that you might have in one of the most desirable real estate markets in Palm Beach County Florida,  
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
  Home Inventory in Tequesta Jumps 10% in February If there is a single buzz word in the air whenever the topic of real estate comes up lately it is invariably going to be “inventory”. Shortages, shortages, shortages. Sales of exiting homes in the north county region were down almost 23% in January and while we are still finalizing the February numbers they seem to be stagnant as well. Buyers are faced with increasing competition and higher prices whenever a well priced new listing hits the Multiple Listing Service.   There are still opportunities hiding out there but you need to know which pocket to look into and be prepared to act lightning fast. But with a well designed game plan executed properly you still can yield results. Results reported two days ago by Realty Trac show that in ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Absorption Rate in Tequesta Jumps 11% March has arrived and the local real estate market continues to evolve and change and all signs still point to the shift from buyer’s market to seller’s market continuing. The big topic of conversation is how limited inventory is affecting the market and as we reported here last week home sales in the Northern Palm Beach County were down sharply in January with most of the blame being put on limited choices for an army of buyer’s ready for the right opportunity.   As we dig into the statistics in individual neighborhoods we do see inventory but most homes are priced well above what the most recent sales in that neighborhood closed at.  Still the percent of homes with price reductions is at multi-year lows which is a bullish sign on it’s own. Homes a...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Sales in Tequesta Down 53% Welcome to March! The winds of change in the South Florida real estate market continue to blow and lately we are experiencing some big gusts indeed. So much data to dissect and try to comprehend but at first glance January home sales in Tequesta and  other municipalities in the North Palm Beach County region were weak; very weak.   Let’s look at one recent reports and see how are area is stacking up. Two days ago the National Association of Realtors reported that pending home sales rose in January for the 21st consecutive month of year over year gains. As of March 1st pending home sales in Tequesta totaled 69 down slightly from 73 the previous month but up slightly from the 65 we reported a year ago. These homes come out of “inventory” which is still the ...
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By Tom Priester, Paradise Sharks
(Paradise Sharks )
Home Inventory in Tequesta Down 3% in January The old calendar keeps spinning and it is hard to believe we are a few short days from turning the page to March. Those of us who call South Florida home love to be outdoors and March 10th is a big day for us as we “spring forward” and get another hour of daylight to enjoy the glorious weather we have been experiencing.    The local real estate market continues to be very interesting and is constantly changing. Homes I thought would sell quickly can sit while others are snapped up at prices we would have scoffed at a few months ago. We will be bringing our readers the final January sales numbers in a few days but there is no doubt they will slow again being held back by a shortage of quality homes available for sale in many price categories....
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