We are starting to feel the annual migration of sun seeking visitors to our little slice of paradise. Here in the Northern Palm Beaches, we see more cars on the road, more people on the beach, and tables at the best restaurants mean you better have a reservation, or be prepared to wait.

Season has started, and while the big crowds don’t arrive until after we get through the holidays, there is no doubt that the party has already started. This years’ season should be a big one and if the economy keeps churning in a positive manner, local real estate is going to get more expensive.

As of November 1st, the median single family home price in Jupiter and the neighboring communities jumped, but as Paradise Sharks has been telling you, higher prices are coming. Back on June 1st, we hit an all time record high of $515,000 and over the summer we watched prices drop for 4 consecutive months. That downward streak ended in October with median single family home prices jumping from $496,250 all the way back up to $510,500.

Sales actually were not that strong, and in October were a full 14% below year ago numbers. It isn’t demand pushing prices higher, it’s supply, with very few quality homes available in many neighborhoods and price ranges. That lack of inventory means sellers with quality homes are asking more, and if buyers want to play ball, they are finding they need to pay more.

Location is driving prices higher in the most sought after neighborhoods, with Tequesta still leading the pack. So far this year, the median single family home price in Tequesta sits at $585,000, up an impressive 23% over last year’s numbers. Compare that to Jupiter, where the median single family home price is up a far less dramatic 3% in 2019.

So much to keep our eyes on, with the crazy political race we have underway, interest rates that have moved higher from recent lows and inventory levels that remain 11% lower than last year. We should see inventory levels climb higher, interest rates drop lower, and sales start picking up in January. Condo sales will perk up first and so far we have not seen condo prices jump like single family homes, but those price increases are coming.

If doing anything real estate please seek guidance as this is not a market for the uneducated. Prices can move dramatically higher but things can change at the drop of a hat. Pay close attention and if you have questions, or need advice, please feel free to contact Paradise Sharks as we are dedicated to quality service and exceptional value. Decades of experience and we are unencumbered by middleman expenses that drive costs higher at many real estate brokerages.
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Paradise Sharks pays no franchise fees, has no broker to split commissions with and we simply pass those savings on to our clients. Our world class “let’s set a record price” marketing packages are available at total commission packages that start as low as 4%. Our buyer’s all get cash rebates at closing and that’s how we like it. If we can ever be of help, in any way, just ask. You will find us super easy to reach at 561.308.0175 or tom@paradisesharks.com.


Fins up……


#tequestasinglefamilyhomeprices

Father Time slows for nobody and here we are in November with just a few more weeks before seasonal home buying starts picking up in earnest. At least if you believe history repeats itself. In the Village of Tequesta, and the rest of the Northern Palm Beaches, the month of October was another interesting one for the local real estate market.

Pending home sales were showing some surprising strength over the 2nd half of the month, but they plunged a bit over the past few days which meant our 6th straight monthly decline. Thankfully, the monthly decline was barely measurable and a strong performance compared to year ago numbers. That performance means the number of homes under contract in the region, is up over 15% compared to year ago numbers, which is a great sign. Still, we have about 2 1/2 months before we typically see a spike in homes going under contract based on historical cycles.

A big problem for buyer’s in many neighborhoods is inventory, especially homes in move in condition, at prices that aren’t inflated based on current market conditions. As expected, October brought more homes to the market with a 5.7% jump in inventory. It is the first time in 8 months that buyer’s have started the month with more options. That being said, last year during October we saw a 9% increase and compared to year ago inventory, todays buyer’s have far fewer options.

Condo sales have remained weak with pricing pressure to the downside. Median condo prices in the Tequesta area today sit at the lowest levels we have seen since way back in April. Single family home prices had done a bit better and are starting to push higher after hitting 7 month lows. Median home prices in Tequesta are still on top of the list of larger Palm Beach communities, a testimony to our quality of life and strong demand. This demand should remain strong through the spring and bring even higher prices as we move through the 2019-2020 season. Great news for seller’s but buyer’s will want to fully understand the numbers on any purchase, especially if we see a strong jump in prices from today’s levels.

Paradise Sharks watches the top end of the market very closely, as when lots of homes are selling above the million dollar threshold, they drag the rest of the market along for the ride. In October, sales at the top end of the market fell behind years ago numbers for the 2nd time in 3 months. Not time for any panic, but we certainly want to keep a very close eye on these numbers as we get into the new year. Sales of these homes remain 23.5% ahead of last year’s all time record. New construction of custom homes on the water in Tequesta is also at a level we have never seen before. Money is freely flowing into expensive real estate here in Palm Beach County’s northernmost community.

Right now, it is looking like a banner season for real estate heading our way here in Tequesta and the rest of the Northern Palm Beaches. Seller’s and buyer’s need to make fully educated decisions and if Paradise Sharks can ever answer any questions, or be of help in any way, please feel free to contact us at any time. You will find we are super easy to reach at 561.308.0175 or at tom@paradisesharks.com. Put our decades of experience to work for you and learn how our boutique brokerage will not only save you a ton of money over most of the competition, but ensure the quality of our service remains special. It’s what we do and we are very proud of how kicking the middleman out of the real estate transaction saves our clients thousands and thousands of dollars.


Fins up……




#tequestarealestate

Over the past month, the median condo price in the Palm Beach Gardens area dropped about 3% to $247,875 and the lowest level we have seen since back in April. Condo sales volume for the past couple months is lower than we have seen in years. Home inventory levels are moving higher in October for the first time in 8 months. Political turmoil like this country has never experienced. Slowing demand, increasing supply and interest rates that have jumped a bit over the past week. Certainly does not look like a recipe for median condo prices to start moving higher.

However, if you peel back the layers, it certainly looks like anyone shopping for a condo in the Northern Palm Beaches may want to hurry if they are looking to secure a great deal.

There are a number of reasons to believe that median condo prices will start moving higher. One big factor is the new Federal Housing Administration condo financing rules that became effective last week. Buyers have far more availability for financing on many condos where 3.5% down payment loans is now available. The reality is, condo buyers have better financing options now than they have had in about a decade.

We are also seeing an unexpected increase in pending home sales so far in October. Last year during the month they fell 16%. Increasing sales this time of year is not unprecedented, but again not something we would expect.

Historical data tells us seasonal factors almost always have condo sales picking up dramatically starting about January 15th. If the economy stays strong there is no reason to believe 2020 will be any different. No doubt the political divide we are experiencing in America is not healthy and there still are many questions about what the future holds. 

For now, the top end of the Palm Beach Gardens real estate market has never been stronger. Keep informed, seek education and don’t let anybody sell you anything. Paradise Sharks has decades of experience, customer service that will make you smile, and value that those big box brokerages can only dream about. Full service listing commissions as low as 4%, buyer rebates on every purchase and if we ever do not do exactly what we say we insist you fire us. We have never been fired. 
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To schedule a complimentary consultation with Paradise Sharks feel free to contact us anytime at tom@paradisesharks.com of 561.308.0175. We would be honored to earn your trust and your business.


Fins up……




#palmbeachgardenscondoprices

If you have any thoughts of selling your home in the Jupiter area, you may not find a better time. Strong seasonal sales are just around the corner and there just aren’t enough quality properties for buyers to select from. New listings are badly needed in most neighborhoods.

Home buyers in the Northern Palm Beaches have fewer choices than they have been accustomed to at this time of the year. The number of homes available for buyers to select from remain over 10% lower than year ago numbers. 

If there is any good news, it’s that inventory levels are up slightly over the past 30 days, after 6 straight months of decline. The monthly increase was 1.6%, which is far below the 5% increase we saw over the same time period last year. When you dig further into the numbers, you will find that there is very little selection at the lower price points.

Interest rates have moved a bit higher this week, but still remain near historically low levels. Buying of luxury homes, with price points above the $1 million dollar threshold, remains very strong. Even with this record strength at the top end of the market, pending home sales over the past 30 days are down again for the 6th straight month. We expect further drops over the next three months before seasonal home buying kicks into gear about the middle of January.

With poor selection for many buyers, and the slower sales months, prices have been pulling back, but signs show that this trend may soon be reversing. Paradise Sharks will be reporting the latest condo prices in the Jupiter area next week. We fully expect they will be down again to the lowest prices we have seen in 6 months. However, new FHA financing rules go into effect for the condo market today and that should help push demand, and prices, for condos higher in the months ahead.

If you are thinking about selling your home, be very careful when selecting a real estate broker. Interview and ask a lot of questions about the service you will receive, and the cost of those services, as they can vary widely. In Jupiter, we still see about 1 in 4 single family home sellers paying a 6% commission and to us the big question is why?

Paradise Sharks has been doing nothing but real estate for decades. We started our boutique real estate brokerage years ago with the mission to make sure high quality real estate services are available to everyone at prices that won’t break the bank. Our “let’s set a record sales price” marketing packages are available at full commissions to our clients that start as low as 4%. Our buyer clients receive significant credits at closing. Because we do not have franchise fees to pay, a broker taking a portion of our commissions, or other middlemen expense we simply can do more, for less than most of our competition. It’s something we are very proud of and if we do not do exactly as we promise we insist you fire us. We have never been fired.

If Paradise Sharks can ever be of help, in any way, please feel free to reach out to us anytime for a complimentary consultation. You will find us very easy to reach at 561.308.0175 or tom@paradisesharks.com. Paradise Sharks would LOVE the opportunity to earn your trust and your business.


Fins up…..

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#jupiterhomeinventory

Median single family home prices in Palm Beach Gardens, and the rest of the Northern Palm Beaches, were down in September for the 4th straight month. As of October 1st, the median single family home price in the region sits at $495,000. This is the lowest level we have seen for 7 months and is 4% below the all time record high of $515,000 we enjoyed back on June 1st.

Seasonal factors certainly play a role, but the main culprit remains the lack of quality inventory for buyers to choose from. Pending home sales are poor, and with closings of homes above the $1,000,000 price point setting record after record, there is significant weakness in other market segments. Interest rates remain near multi-year lows, economic news remains positive and the large number of people moving into the state all are bullish signs for the market.

Things in Washington are getting more bizarre with each passing day and the divide in this country is wider than we have ever seen in my lifetime. I am thankful my parents and grandparents are not here to witness what is going on, and I am more than a bit worried about what the future holds for our children and the generations that follow.

It is hard to guess how today’s political environment will effect the local real estate market but there no doubt will be an effect. If the economy stays strong, and interest rates remain near all time lows, we should see strong demand once seasonal buying starts up in January. While inventory levels will increase over the next few months, the lack of quality, coupled with strong demand should push Palm Beach Gardens home prices higher. Buyers may be best suited by searching for the right opportunity over the next three months while sales remain slow. Still, keep a close one on economic news as any serious hiccup could have significant implications on the real estate market.

Anybody considering a purchase, or sale, in today’s market should be interviewing real estate brokers and asking a lot of questions. The waters are rough and uneducated decisions may cost you thousands and thousands of dollars. Paradise Sharks loves to make sure our clients make educated decisions and complimentary consultations are easy to schedule by contacting us at tom@paradisesharks.com or 561.308.0175.
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We have decades of experience and Paradise Sharks was founded to make quality real estate services available to everyone at prices most of our competition can only dream about. We are not encumbered by a broker taking a portion of our commissions, or by paying franchise fees and other middlemen costs. We simply pass those savings on to our clients, where they belong. You can always pay more, and receive less, but that just doesn’t make any sense.


Fins up…..




#palmbeachgardenshomeprices

There just aren’t many choices for today’s home buyer in the Northern Palm Beaches. In Tequesta, the number of options for buyers looking for the right opportunity continue to dwindle. Home inventory levels in the area have dropped for the 7th straight month and now sit at the lowest levels we have seen in over 12 years.

Compared to one month ago, inventory levels in the Northern Palm Beaches have dropped another 1.1% and are down 8.4% from last year. This month’s drop took out the old low set way back on September 1st of 2015.

The good news is, it’s the time of the year we start seeing inventory levels rise in anticipation of the seasonal strong buying that begins about the middle of January. No doubt inventory levels will rise, but it is still very hard to see where a large number of sellers are going to come from.

Demand remains strong at the top end of the market, where homes sell for a million dollars or more. During September, sales of these luxury homes exceeded last year’s record pace by 50% and it’s the 7th new monthly high set so far this year. A strong economy, coupled with a multitude of relocations from high tax states, has created a boom market for $1,000,000+ homes like we have never seen before. Last year we set a all time record high and to date we have blown those numbers out of the water.

While the top end of the market soars, the lack of quality inventory, and median prices that had climbed significantly have helped slow buying down in many neighborhoods. Pending home sales have dropped for 5 straight months and they fell again an additional 6.5% in September. Much of this decline is what we expect because of traditional seasonal buying patterns, but the lack of good inventory keeps many buyers from pulling the trigger.

Interest rates remain very favorable but qualified buyers struggle to find an acceptable home, especially at valuations under $750,000. Buyers still remain selective and are not jumping at overpriced homes or those that need a lot of work. All of these factors have led to declining median home prices with condo prices at the lowest levels we have seen since April. Single family values have pulled back even more and are now at the lowest levels we have seen since March.

Buyers need a game plan if they are going to find their pot of gold at the end of this real estate rainbow. It’s critical their finances are in order and cash or strong pre-approval credentials are readily available. It’s critical they are informed immediately of new opportunities that match, what hopefully is, a very well defined search. It’s critical they can make quick decisions with a real estate broker who has the ability to show them the true value of any home. Its a tough game, but one than can be won with the right strategy and a little patience.

Paradise Sharks has been playing the real estate game for decades and our boutique culture, without middlemen, means our clients are rewarded with closing credits for all our buyers and the lowest commissions anywhere for our seller clients. When doing real estate, always interview and make sure you are making informed decisions. Interview brokers and Paradise Sharks would LOVE the opportunity to earn your business and show you how the real estate game should be played. Contact us anytime at tom@paradisesharks.com or 561.308.0175.


Fins up for winning this crazy game of real estate……..


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#tequestahomeinventory

It’s not a great time to be looking for a home in the Northern Palm Beaches. In fact, your selection is just plain pitiful. Over the past 30 days, inventory levels have dropped once again for the 6th straight month. The monthly drop of 3%, was in line with seasonal expectations, but today there are 7.5% fewer homes on the market for buyers to select from compared to last year on this date.

But, the sad reality is, last month’s drop took us down to the worst inventory levels we have seen in well over a decade. Paradise Sharks has been keeping detailed records since 2007 and never has a homebuyer had less selection that they are faced with today. It simply is not a great time to be home shopping, especially in the lower price points, where there is nothing for sale in many neighborhoods.

We typically look for new construction to fill the supply side of the real estate equation, but here in South Florida, vacant land is not plentiful with most far away from the ocean and the reason people want to live here. Buyers can still find more bang for their buck in Martin County but on our Multiple Listing Service this morning, a total of 53 “new” homes are listed for sale in the Jupiter/Palm Beach Gardens region of Palm Beach County. The median list price for these homes is $737,990 compared to the $520,000 median price of homes sold over the past month. In the Prado development, you won’t find a new home under the $1,000,000 mark. Sonoma Isles shows their entry level pricing at $723,990 and if you want to head out to Reynolds Ranch in Jupiter Farms, the smallest floor plan starts at $917,990. Your best bet on paper for a new single family home is in Alton where their Park A model starts at $581,900.

There is no doubt that selection, or lack of selection, is impacting sales and as expected pending home sales were down again for the 5th straight month. As of today, pending home sales are 5% lower than year ago numbers and we are most probably looking at 4 more months of decline until we start seeing improvement.
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If you are looking to buy, or sell a house, you truly need to interview brokers and find out, not only what they are going to charge you, but more importantly what they are going to do for you. Paradise Sharks takes great pride in being a small business, and because of our size we do not have all the middlemen costs many real estate brokers are encumbered by. We don’t split our commissions with a broker, we don’t pay franchise fees and we pass these savings directly to our clients, where they belong. All of our buyer clients get substantial credits at closing as our small way of saying thank you. Our sellers, get a very high quality of customer service, marketing expertise and commissions that start as low as 4%. If we can ever be of help, just reach out to us at 561.308.0175 or tom@paradisesharks.com. Our decades of experience is waiting and we would love the opportunity to show you what the future of real estate looks like.


Fins up…..




#jupiterhomeinventory

We have all heard that the three most important factors in a homes value are location, location and location. While that is somewhat true, the reality is, natural light is actually far more important. Your home may sit on the most desirable lot, in the most desirable town, with the most dramatic views in the world, but without windows, it loses value. Lots of it.

Here in South Florida, people love the outdoors. If it wasn’t for the water, the beaches, the golf courses, the sun and the sand, people would not be drawn to our lifestyle. The great outdoors is why we are here and properly bringing that outdoors, into your home, through windows and doors can impact it’s value. By 25%, or more.

I have been building, or selling real estate, for my entire life and it’s in my blood. Selling is not my thing, educating is, and I thrive on making sure Paradise Sharks clients make informed decisions. When shopping for a new home, your lifestyle is critically important and natural light is not only going to affect the resale value of your home. It’s incredibly important to your happiness, your mood, your health. A home filled with beautiful, glorious, natural light makes you get along better with others, it reduces your stress level, it lowers your blood pressure, it improves your ability to learn and think creatively. Your brain will actually produce more serotonin when in natural light and that mood boosting hormone is your life blood in so many ways. 

The first things everyone should think about when home shopping are natural light, view and orientation of the lot. It’s critical to your happiness and how much you will enjoying living within it’s walls. If you love the outdoors, and your happiness is spending time in the backyard splashing in the pool, you don’t want it to face west in South Florida. Unless, you are a snowbird and dramatic sunsets trip your trigger. If you want to spend early morning on the patio, with your coffee and the morning newspaper, perhaps east is your optimal direction. Our backyard faces north and I have a wall of windows that make it the perfect choice for our lifestyle. Everyone is different but you need to understand you to make the right decision. A qualified real estate broker will be your best tool so use them to make sure you are making the right decision.

The sun is your best friend and will make your life more enjoyable if you plan around it and use it properly. It will make your home feel larger. It will make your home more spectacular. However, a window does no good if the view isn’t something worth looking at. A window does no good if it is filthy and there is a tall bush in the yard covering it up and blocking the view. The outdoors, and indoors, must work together but its not hard if you properly plan.

To me, the lifeblood of any home is the kitchen and a large, well lit space is the key to how your home lives. In the old days, one would not dream of not having a window above the kitchen sink. There was a reason for that. 
You cannot have too much natural light in your home. We have a full glass door into our garage, a large window and windows in the overhead doors. That’s in our garage. It’ a happy place. Landscape design, window treatments, paint colors, furniture placement, reflective surfaces, all play roles in how natural light will feel in your home. Your health, happiness and bank account depend on it, so make sure you understand in when shopping for your home.

Paradise Sharks has been doing nothing but real estate for decades. We understand natural light and are happy to sit down with you and discuss your needs. We want you to make wise purchasing decisions and we want you to be happy in your home. Here in paradise, you are going to pay a lot for your home so make sure you put natural light into the equation and it should be at the top of your list.
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If Paradise Sharks can ever assist with any of your real estate needs please feel free to contact us at tom@paradisesharks.com or 561.308.0175 for a complimentary consultation. We are a boutique brokerage with no middlemen. Our customer service is high, and our fees are low, because we feel that is how every business should be run. For our customers, and we would certainly be honored to serve you.


Fins up…..




#naturallight

There really aren’t too many places in South Florida that enjoy the high quality of life that we do here in the Northern Palm Beaches. It’s a special place, and home prices reflect that demand, with the median single family home price sitting at $500,000 as of September 1st.

That is a decline of $10,000 over the past 30 days and there is only one reason they did not slip further. Tequesta. While small in size, home prices in Tequesta play an important role in why the region’s prices are still above $500,000.

So far this year, the median single family home price in Tequesta sits at $582,000, which is up 22.5% and it’s all because of demand. In Jupiter, by comparison, median single family home prices this year are up barely 3%. Prices up 22.5% in Tequesta, and virtually across the street, prices in Jupiter are up 3%. If we take Tequesta numbers out of the Northern Palm Beach County figures, the median price today would only be $490,000. This little village is making a big impact on regional home prices.

The population of Tequesta is not even 10% of Jupiter’s, and this year, single family home prices have soared. People want to live in Tequesta for the laid back, old Florida, lifestyle this village by the sea offers. With Jupiter allowing more and more development that ignores existing density, parking and traffic rules they are making a home in quiet, little Tequesta even more desirable. It’s a trend that is likely to continue.

Single family home sales fell over 20% in August and were 12% below last year’s figures. Median prices fell to the lowest levels we have seen since March. Thanks to Tequesta they did not fall further.
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If you are looking to get your best deal on a Tequesta home you might think about getting in touch with Paradise Sharks as we give every one of our buyer clients a substantial credit at closing. Tell us you want to be a part of our Be a Star program, and we will donate 50% of any commission we earn to the relief efforts for our neighbors in the Bahamas who are suffering greatly because of last weeks life changing storm. Paradise Sharks is super easy to reach at 561.308.0175 or tom@paradisesharks.com and we would love to interview for your business and show you what real estate, without a middleman, looks like.


Fins up…..




#tequesta

As we take a deep sigh of relief here in South Florida, the people of the Northern Bahama Islands are dealing with loss that is hard to imagine. The photos and videos are starting to roll in and this land of magical white sand beaches and crystal blue waters has been dealt a blow by Hurricane Dorian that will take years to recover from.

I am thrilled to see the outpouring of people, raising money and supplies, to immediately help our island neighbors. These neighbors, and the land they call home, mean so much, to so many and I wanted to come up with a way that we too can give back and make an impact on the long road to recovery. 
We invite anyone who will be buying a home, or selling a home, to take part in Paradise Sharks Be a Star program that we hope can raise a significant amount of money to help our Bahamian neighbors.

It is very straight forward, and all you need to do is contact Paradise Sharks at tom@paradisesharks.comor 561.308.0175 and tell us you are looking to participate in our Be a Star program. If we are engaged to act as your broker on any real estate transaction, at closing we will donate 50% of all commissions we earn, to the relief efforts in the Bahamas. All donations will be made, directly at closing, to organizations who have been fully vetted and are making a positive impact with the rebuilding of this extraordinary land just to our east.
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This program will stay in effect until we raise at least $25,000, and we truly hope we can raise even more. We still firmly believe, anyone doing real estate, of any kind, needs to interview brokers and find one that will best help them meet their goals. Ask a lot of questions, and seek answers. Paradise Sharks loves to interview, and we would be honored to team with you in the weeks and months ahead, to help our beautiful neighbors recover from this disaster.


Fins up for helping our neighbors……






#bahamasstrong