"AT THE BLUFFS" Newsl etter"   
WHAT'S SELLING AT THE BLUFFS MAY 2020                                         
BLUFFS SALES THRU APRIL 2020 and HOW THE VIRUS IS EFFECTING  THE BLUFFS MARKET
  
During January 2020 thru April 2020, "New Listings" were down 13%, and the number of properties that are "Under Contract" is down 37% compared to the same period in 2019. The general number of sales are about the same year to date.  However, due to the COVID-19 pandemic, we lost the most active two months of the year March & April for resales. We'll have to see how this will affect closed sales in May and June; however, we anticipate lower sales during this period. 

The Ridge at the Bluffs had 10 homes sold in the first 120 days of 2020 compared to 4 homes sold in the first 120 days of of 2019. Sales prices ranged from $450,000 to $689,000.

The River had 6 homes sold in the first 120 days of 2020, compared to 10 homes sold in the first 120 days of 2019. Sales prices ranged from $501,000 to $1,280,000.

The River North had 5 townhomes sold in the first 120 days of 2020 compared to 9 townhouses sold in the first 120 days of 2019. Sales prices ranged from $265,000 to $318,000.

The Lakes at the Bluffs had 3 townhomes sold in the first 120 days of 2020 compared to 8 townhouses sold in the first 120 days of 2019. Sales prices ranged from $280,000 to $322,500.

The Marina at the Bluffs had 10 condos sold in the first 120 days of 2020 compared to 11 sold in the first 120 days of 2019. Sales prices ranged from $325,000 to $465,000.

The Ocean South had 1 condo sold in the first 120 days of 2020 compared to 2 sold in the first quarter of 2019. The sales price was $400,000 (balcony assessments was paid by seller).

The Ocean North had 9 condos sold in the first 120 days of 2020, compared to 1 sold in the first 120 days of 2019.  Sales prices ranged from $270,000 to $550,000.

Regards from Paradise!
Tom Waidelich
Jupiter Coastal Properties  
RECENT BLUFFS SALES
Bluffs Ridge-Sold
Address                Sale Price     Sale Date      Dom  
335 Ridge Rd            689,000      04/21/2020    5
181 Cape Pointe       495,000      04/14/2020    62
107 Cape Pointe       580,000      04/06/2020     7
208 Ridge Rd            595,000      03/10/2020    41
106 Ocean Pines       595,000      02/14/2020    246
215 Ridge Rd            570,000      02/03/2020     4
163 Beach Summit    530,000      02/03/2020     72
169 Ridge Rd            520,000      01/30/2020     4
119 Ridge Rd            495,000      01/28/2020    260
136 Sand Pine Dr       450,000      01/03/2020    2


Bluffs River-Sold
Address                  Sale Price     Sale Date       Dom
164 Harbourside Cir 1,280,000     04/23/2020      4
110 Inner Harbour     810,000      03/10/2020     32
330 Leeward Dr         520,000      02/21/2020     24
370 River Edge Rd     740,000       01/24/2020     67
321 Leeward Dr         610,000      01/03/2020     28
103 Inner Harbour     501,000       01/02/2020   178


River North Townhouses-Sold
Address          Sale Price      Sale Date    Dom     
2712 27Th Ct    305,000      04/08/2020      2
2711 27Th Ct    300,000      04/01/2020     52
2821 28Th Ct    318,000      04/01/2020    117
2516 25Th Ct    265,000      03/02/2020      1
2704 27Th Ct    265,000      01/24/2020     99


The Lakes-Sold
Address             Sale  Price    Sale Date     DOM
1209 12Th Ct      252,000        05/05/2020    12
1929 19Th Ct      280,000        04/09/2020     7 
1623 16Th Ct      308,000        12/31/2019    17
1152 11Th Ct      280,000        10/04/2019    65


Bluffs Marina-Sold
Address                   Sale Price   Sale Date       DOM
2401 Marina Isle 301     498,500     05/07/2020    44
1901 Marina Isle 201     380,000     04/17/2020    18
901 Seafarer Cir 404      465,000     04/16/2020   152
1901 Marina Isle 502     388,000     04/14/2020      2
1001 Seafarer Cir 104    345,000      04/06/2020    68 
1101 Seafarer Cir 103    346,000      04/03/2020    25
2501 Marina Isle 504     355,000      03/31/2020    63
501 Seafarer Cir 402      408,000      03/19/2020    35
1701 Marina Isle 504     425,000      03/10/2020    24
2201 Marina Isle 106     360,000      03/02/2020    50
901 Seafarer Cir 406      325,000      01/30/2020   58


Bluffs Ocean South-Sold
Address                Sale Price    Sale Date         DOM
201 S Seas Dr 304      400,000       04/07/2020     4
301 S Seas Dr 305      390,000       12/16/2019    91
701 S Seas Dr 406      410,000       11/08/2019    12


Bluffs Ocean North-Sold
Address                   Sale Price      Sale Date      DOM
201 Ocean Bluffs 503    485,000    05/05/2020     12
301 Ocean Bluffs 502    510,000    04/02/2020     68
201 Ocean Bluffs 404    384,500    04/01/2020     43
201 Ocean Bluffs 103    295,000    03/10/2020     16
401 Ocean Bluffs 103    360,000    03/09/2020     87
301 Ocean Bluffs 103    387,500    02/27/2020     22
201 Ocean Bluffs 106    270,000    02/26/2020     145
401 Ocean Bluffs 401     490,000   02/21/2020     32
201 Ocean Bluffs 505     550,000   01/15/2020      8
401 Ocean Bluffs 503     475,000   01/03/2020      9

LEGAL CORNER with ANDREW PINEIRO, Esq.
Cioffi Logo

Force Majeur & Covid-19

The Covid-19 pandemic has raised awareness of potential claims and issues that may arise when a property is under contract and headed toward a closing.  Specifically, we are receiving several inquiries regarding the applicability of the
force majeure clause contained in the most recent version of the standard FARBAR real estate contract (the "contract").
 
The contract does contain a force majeure clause that provides for additional time to perform certain obligations in certain circumstances. 
 
Specifically, Standard G, FORCE MAJEURE, states, "Buyer or Seller shall not be required to perform any obligation under this Contract or be liable to each other for damages so long as performance or non-performance of the obligation, or the availability of services, insurance or required approvals essential to Closing, is disrupted, delayed, caused or prevented by Force Majeure.  "Force Majeure" means: hurricanes, floods, extreme weather, earthquakes, fire, or other acts of God, unusual transportation delays, or wars, insurrections, or acts of terrorism, which by exercise of reasonable diligent effort, the non-performing party is unable in whole or in part to prevent or overcome.  All time periods, including Closing Date, will be extended a reasonable time up to 7 days after the Force Majeure no longer prevents performance under this Contract, provided, however, if such Force Majeure continues to prevent performance under this Contract more than 30 days beyond Closing Date, then either party may terminate this Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all further obligations under this Contract."
 
Upon first blush, it might appear that a Buyer could invoke the force majeur to extend time periods for deadlines and obligations required by the contract.  Taken further, the clause could be invoked to terminate the contract if the force majeure event prevents performance under the contract for more than 30 days beyond the closing date.
 
Generally, if an event is specified in a force majeure clause, then if the specified event occurs, the impacted party (the obligee) is excused from performance.  Generally, when the specified event is not listed, this means that the parties allocated the risk of the specified event to the impacted party, or the obligor.
 
The FARBAR does not specifically list "pandemic" as a force majeur.  But, the FARBAR does list "other acts of God" as force majeur.
 
Epidemics and pandemics are usually considered their own specified events for purposes of a force majeure clause.  While the terms epidemic and pandemic are not used in the FARBAR, the contract's force majeure clause contains the "other acts of God" catchall, which could be argued as applicable.
 
How the "other acts of God" phrase is interpreted is based upon Florida law and court interpretations.  The answer is not clear.  And, the facts of every case are different and will have an affect on the interpretation of the clause.  Covid-19 will most assuredly shed new light on this issue.
 
Navigating the terms of a real estate contract can 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, Florida 33458, apineiro@pblawfla.com.
        
JCP

Jupiter Coastal Properties 

Bluffs Ridge

137 Beach Summit Ct

113 Sand Pine Dr -Sold

Bluffs Marina

1101 Seafarer Cir-502-Penthouses

1001 Seafarer Cir-104-Sold

1801 Marina Isle Way-406-Fully Renovated End Unit

Jupiter Country Club
131 Tresana Blvd-Sold
Jupiter Lakes Townhouse
Great Investment Opportunity



Thomas J. Waidelich
Broker-Owner  
  
C-561-373-9653
O-561-745-1492
F-561-745-1493
   

Wondering how much your
home is worth?
Contact me at 561-373-9653 for no obligation professional evaluation of your home.

Number One Realtor in Bluffs Sales 

WHATS FOR SALE 
AT THE BLUFFS






JCP
FEATURED LISTINGS

Bluffs Marina

1101 Seafarer Cir 502
Penthouse 
Stunning Views $379,000

1001 Seafarer Cir Unit 104
SOLD-$345,000


1801 Marina Isle Way Unit 406
For Sale $449,000

Bluffs Ridge
137 Beach Summit Ct
Offered at $529,000
          Click for Details           
        
Bluffs Ocean North

201 Ocean Bluffs Blvd 404
Sold $385,000
               
HELPFUL LINKS 








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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.  
    
VOL 95
   Last update 5/14/2020      
This is not a solicitation if your property is currently listed with a broker.   

 

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