Your biggest problem will be finding a property to buy
Back in the 1980’s, DiVosta and Berg was a locally owned company and one of their most famous product lines were the quads with mansard roofs that dot the landscape throughout the Palm Beaches. Beach side in Jupiter just off of Marcinski is perhaps one of the best locations Otto DiVosta ever landed for these homes and in 1984 and 1985 he built 98 buildings containing 392 units in the development know as Lakes at the Bluffs.
Most people are drawn to Florida for our beaches and nobody tops Jupiter in this department. Finding a town home community within easy walking distance to our most valuable asset is not as easy as one would think. Especially, a well built DiVosta home with a large outdoor living space. Lakes at the Bluffs is a winner and those who are lucky enough to own a home in the community know just how good they have it. If the beach isn’t enough the community has a wonderful pool, tennis courts and even racquetball. Sidewalks throughout the neighborhood make getting around to see your neighbors enjoyable.
Each unit is the same design with 1,188 air conditioned square feet with two bedrooms upstairs, each with their own bathroom and a powder room on the first floor. But the best thing about these homes may just be outside where each owner has their own 273 square foot terrace to fully enjoy the outside Florida lifestyle. The community is dog friendly but your pup better weigh less than 25 pounds as that is the rule and the property manager strictly adheres to these rules. You can rent your home but only twice a year with a minimum lease term of 90 days.
As we continue to struggle with limited inventory, especially beach side in Jupiter, finding a home to purchase in Lakes at the Bluffs is not an easy task. Buyers need to be prepared to act quickly with strong offers and be working with a real estate broker who has set them up to win a game that is not easy to play.
Consider that, as of this morning, only 15 homes in the community have sold over the past 12 months and there is not a single active listing. Not one. New listings, if well priced and properly marketed with professional high resolution photographs and well written descriptions will sell quickly. As one might imagine prices are rising: up again in 2015 for the 4th straight year. So far this year the median sales price has been $213,000 which is up 9% from the $195,500 median price we had in 2013. Even more dramatic is the 37% increase we have seen since 2011.
While these gains may seem large do not feel that you have missed what might be the biggest moves still to be made. After all, today’s median price in Lakes at the Bluffs still falls 30% short of the record highs we saw back in 2005.