"AT THE BLUFFS"
WHATS SELLING AT THE BLUFFS- January 2023
YEAR END BLUFFS SALES RESULTS FOR 2022

2022 has been another record-breaking year for prices in each of the Bluffs Communities. During 2022, 95 Bluffs properties were sold compared to 144 properties sold in 2021. Of the 95 sales, 74 buyers paid cash (78%), and 68 properties were under contract within 14 days on the market. The number of resales were down significantly in most communities because of inventory shortages throughout the year which helped keep prices escalating throughout the first six months of 2022.
 
The Ridge at the Bluffs: 19 homes sold in 2022 compared to 20 homes sold in 2021; sales prices ranged from $610,500 to $1,530,000 in 2022.
 
The River: 15 homes sold in 2022 compared to 27 homes sold in 2021; sales prices ranged from $695,000 to $1,525,000 in 2022. Additionally, two homes on the Intracoastal sold this year, $1,800,000 and $4,325,000.
 
The River North Townhouses: 7 sales in 2022 compared to 10 homes sold in 2021; sales prices ranged between $400,000 to $495,000 in 2022.
 
The Lakes at the Bluffs: 10 townhouses sold in 2022 compared to 19 townhouses sold in 2021; sales prices ranged between $400,000 to $500,000 in 2022.
 
Bluffs Marina: 27 units sold in 2022 compared to 40 units sold in 2021; sales prices ranged from $450,000 to $675,000 in 2022.
 
The Ocean South: 12 condos sold in 2022 compared to 20 units sold in 2021; sales prices ranged between $540,000 to $801,000 in 2022.
 
The Ocean North: 5 condos sold in 2022 compared to 8 condos sold in 2021; sales prices ranged between $585,000 to $775,000 in 2022.

For the most current information on "Active Listings", click on the purple links below or go to our website at Jupiter Coastal Properties. 

Regards from Paradise!

Tom Waidelich
Jupiter Coastal Properties 

Thomas Waidelich
Direct: 561-373-9653
Office 561-745-149
tw@jupitercoastalproperties.com
www.jupitercoastalproperties.com
Bluffs resident for over 18 years!
Thinking of selling?
Now’s the time to start planning! Call Tom for a complementary analysis of your home’s value.
RECENT BLUFFS SALES
 
Bluffs Ridge-Sold
Address           Sale Price  Sale Date  Dom
113 Cape Pointe....830,000....12/22/22....8
129 Seashore…....950,000….12/08/22…16
150 Ocean Pines...800,000.....11/18/22....7
114 Knoll Way.......1,470,000...09/06/22....5
141 Sand Pine......1,025,007...09/02/22....4
187 Ridge Rd.........978,750.....08/03/22...46
193 Cape Pointe...1,000,000....07/20/22....3
Bluffs River-Sold
Address          Sale Price_Sale Date_Dom
322 River Edge ...1,800,000...11/18/22..50
302 River Edge ...1,100,000...10/21/22...3
392 River Edge ...1,150,000...08/31/22...4
228 E River Park..1,525,000...08/31/22..23
384 River Edge ...1,125,000...07/19/22...2
264 E River Park.....825,000...07/05/22...4
River North Townhouses-Sold
Address     _Sale Price  Sale Date  Dom
2701 27Th Ct....410,000.....07/08/22....30
2903 29Th Ct....422,000.....06/28/22.....3
2403 24Th Ct....495,000.....06/10/22.....7
The Lakes-Sold
Address         Sale Price   Sale Date  DOM
2310 23Rd Ct....475,000.....12/29/22…..8
2024 24Th Ct....400,000.....11/18/22....44
2328 23Rd Ct....450,000.....10/24/22....4
1939 19th Ct.....435,000.....08/01/22.....4
1509 15th Ct.... 500,000.... 06/27/22.... 2
1806 18th Ct.... 497,000.... 06/21/22....10
Bluffs Marina-Sold
Address           Sale Price Sale Date  Dom
2001 Marina Isle.206..625,000..12/15/22..4
701 Seafarer 502.......520,000...11/15/22...6
2601 Marina Isle.203..450,000...10/07/22..1
2501 Marina Isle.503..675,000...09/30/22..69
2101 Marina Isle.303..649,900...09/02/22...4
1901 Seafarer 106.....620,000...08/29/22....6
601 Seafarer 104.......495,000...07/18/22....4
601 Seafarer 505.......615,000...07/10122..12
1201Seafarer 101......575,000...07/05/22....4
Bluffs Ocean South-Sold
Address         Sale Price  Sale Date DOM
601 S Seas 204..700,000...11/18/22....78
201 S Seas 505..729,000...11/09//22...29
501 S Seas 301..737,000...07/19/22....28
601 S Seas 502..801,000...06/01/22.....4
Bluffs Ocean North-Sold
Address             Sale Price  Sale Date DOM
401 Ocean Bluffs 501 .710,,000..10/28/22. 29
301 Ocean Bluffs 506 .775,,000..08/01/22. 14
301 Ocean Bluffs 506 .675,,000..03/25/22. .3
201 Ocean Bluffs 403 .759,000...03/22/22. .1
Tom's Featured Listings

BLUFFS RIDGE
102 Sea Steppes Ct
New on the Market
BLUFFS RIVER
241 River Park Dr
SOLD $1,000,000
BLUFFS MARINA
1101 Seafarer Cir Unit 101
New on the Market
2201 Marina Isle Way 504
New on the Market
2101 Marina Isle Way 303
SOLD $649,900
BLUFFS OCEAN SOUTH
601 South Seas Dr 502
SOLD $801,000
Palm Beach Mortgage Group
Richard Whalen-Mortgage Broker NMLS #318922
Direct: (561) 371-3394
5589 Okeechobee Blvd. West Palm Beach FL 33417
LEGAL CORNER with ANDREW PINEIRO, Esq.

Question: Our homeowner’s insurance carrier became insolvent, and we cannot find a replacement carrier. Can we avoid homeowner’s insurance and “self insure” if we have an institutional loan that is secured by a mortgage on our property?

Answer: No. The terms of your mortgage require you to adequately insure the property. The reason for this is so that the lender’s collateral is protected in the event of a peril.
 
Finding a replacement carrier in Florida in this market can sometimes be difficult. Theoretically, anyone that has been dropped by their carrier for whatever reason can find insurance coverage through the state’s “insurer of last resort,” Citizens Property Insurance. While this may be quick fix, Citizens has several negatives, including limited structural coverages, no coverage for off-premises liabilities, no coverage for pet liability, no coverage for water back-ups, no coverage for libel/slander, and limited amounts for personal liability coverage. 
 
There are certain risks/properties that Citizens will not cover at all. In this event, the homeowner has limited options. If the homeowner cannot find adequate coverage to satisfy the lender’s requirements, the lender can “force place” insurance on the property. This means that the lender contracts with a high-risk carrier that usually charges a large premium in exchange for very limited coverages that typically only benefit the lender.
 
Even if a forced place policy is imposed, the homeowner has the right to later obtain adequate coverage through other channels to remove the heightened expense associated with the forced place policy.
 
For those homeowners that are fortunate enough to have no debt on their property, it may be tempting to “self insure.” This means that in the event of a cataclysmic peril (severe hurricane, fire, etc.), there will be no insurance coverage to seek reimbursement from for rebuilding. In the event of a hurricane there may be some federal assistance. For most homeowners, the risk of loss is too great to shoulder, therefore I generally do not recommend that a homeowner self insure.
 
Navigating the world of offers, rejections, acceptances, and counteroffers can sometimes be tricky. If you are a buyer or seller and come across a contract interpretation issue, be sure to consult a real estate attorney to determine your rights and obligations under the contract. 

Andrew Pineiro, Esq., Pineiro Byrd PLLC, 4600 Military Trail, Suite 212, Jupiter,
Jupiter Coastal Properties

Real Estate Sales and Rentals 
 
All information and Data is compiled from MLS records and is deemed to be reliable but not guaranteed. Sold information does not include private sales transactions.  Neither articles, advertisers nor non-advertisers should not be considered as endorsements of any product, business, service or person.  

Sales Last Updated 01/02/2023 Vol 116