Home Inventory Levels around Jupiter Continue to Improve

3rd straight monthly increase is good news for buyers

Those who follow our weekly reports know that single family home prices in Jupiter and the entire Northern Palm Beaches region showed solid gains in December. With weak pending home sales numbers buyers, so far this season, have decided they will need to pay higher prices because of limited supply. To see our 3rd straight monthly increase in home inventory levels around Jupiter is definitely good news but not excellent by any stretch of the imagination.

Inventory
Home inventory levels are up over the past 30 days but just barely, far less than a 1% increase. Compared to year ago numbers today’s inventory is lower by over 4%. There are certainly signs that we should see inventory levels make more meaningful jumps in the weeks and months ahead. As prices improve more sellers can justify making a move. Watch for investors to start putting homes on the market that have been held over the past 2 or 3 years for nice gains. Watch inventory levels increase as prices move higher over the next couple months. The stage is set and sellers will provide us more inventory the higher prices move. Between our seasonal visitors and a traditionally strong spring buying season we need options if sales are going to stay anywhere near 2014’s record sales pace. All signs point to pricing pressure to the upside for the next 4 months at least.

The government is loosening credit standards for entry level homebuyers and this will bolster the lower end of the market here in the Northern Palm Beaches. While fees on FHA loans are expensive the FHA did lower downpayment requirements and mortgage insurance premiums to also help create some action in the first time homebuyer arena. Fuel prices continue to move sharply lower which increases discretionary income and also allows buyers to think a longer commute may not be all that expensive anymore. But the best news of all is interest rates which continue to tumble with 30 year conforming rates down further to 3.85%. This is the lowest we have seen since spring of 2013 almost 2 years ago. This is excellent news for all buyers in all price ranges.

So buyers rejoice that you have more inventory but don’t get too excited. Good listings are still exceptionally hard to find and you must react quickly. If you dod not have a game plan to succeed the change of you finding the right home, in the right location and at the right price are increasingly slim. Always interesting, always fun.

Fins up…..

Tom Priester
Principal Broker

Paradise Sharks Real Estate
561.308.0175
tom@paradisesharks.com
http://www.paradisesharks.com

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Tom Priester

After spending years among the top individual performers at one of Palm Beach County’s largest and most successful real estate brokerages, Tom Priester knew there was another way to do real estate. A better way. Real estate services focused on the customer. Like the old days when the customer truly was #1. He tired of listening to why he should be going out to have his customers sign one sided buyers’ brokerage agreements. He tired of hearing how he should be selling customers why paying higher commissions, like 7% and 8%, was to their benefit. He tired of hearing how he should sell his clients on why they should be paying hundreds of dollars in additional “transaction fees”. The business had slid way too far from being focused on the customer. His customer. So he decided the time was right to be different…..by design. To start his own unique boutique real estate firm truly focused on his customers. They will now have access to a process focused on them. Only the best marketing techniques to sell their homes. No cutting corners. Commission structures based on his clients needs not his. Paradise Sharks was born out of Tom’s passion to return this business to the customer. Where it belongs. If you want a real estate experience that benefits you, just give Tom a call at 561 308-0175 or send him an e-mail at tom@paradisesharks.com. You can always pay more and receive less but that just would not make any sense. Would it?

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