Treasure Coast Real Estate Articles
Treasure Coast Recreation
The Treasure Coast recreation is something that must be experienced in order to be truly appreciated. Being one of the most beautiful places on the Atlantic side of the Sunshine State, there’s a whole lot to see and do. And, it’s all the more enjoyable, given the wonderful weather. Even though it's nicknamed the Treasure Coast, the true riches here are its natural beauty. Read on to learn more about the most popular recreational activities on the Florida Treasure Coast.
The counties of Martin, St Lucie, and Indian River comprise what is today known as Florida's Treasure Coast. It is so named because of the Spanish galleon fleet that wrecked off the shores of the area in the early 1700s. Today, this is a very popular destination for explorers and tourists alike. Though some actual treasure has been recovered, the best things to see and do are much less risky.
Among the favorite of locals are the parks and nature preserves. Here people get out and enjoy the weather with short hikes, fishing, and just relaxing strolls, spotting native wildlife. Then, there are, of course, the beaches. The sunshine state is well known for its Sandy shoreline, and the Treasure Coast is certainly no exception. Locals and visitors alike take to the beach to soak up the sun, play volleyball, surf, swim, and enjoy the warm balmy weather.
There's also much else to see and do in the area. For example, golfing, tennis, kayaking, live entertainment, arts and culture, and much more are all here and ready to enjoy on Florida's Treasure Coast.
What You Need To Know About Condo HOAs
What you need to know about condo HOAs is some basic information. This being, what they actually are, what they do, and what they don’t do. Meaning, some people have misconceptions about homeowners associations, or property owners associations and what is within their purview and what is not. So, read on to learn more about what you need to know about condo HOAs.
What you need to know about condo HOAs is these situations aren’t ideal for everyone. Basically, condo HOAs are established to ensure the upkeep of the property at large and to also guard against homeowners devaluing each other's properties. (In other words, making changes that negatively impact the units around them, or allowing their space to fall in a state of disrepair.)
First and foremost, is to check out how the HOA operates. It should have a healthy and stable reserve, which means that it is run relatively well. Additionally, you'll want to know the HOA rules, which outline the association's responsibilities in regard to the condo property, and yours as a homeowner. Generally speaking, the condo HOA, and/or property association, is responsible for the upkeep and maintenance of the common grounds, the exterior of the buildings, while the property owners are usually responsible for the walls in, or interior of their units.
While HOAs make sense for some individuals, others will not be a good fit to own under an association. It all really depends on the type of homeownership you want, and what type of lifestyle you're looking for.
Hutchinson Island Condo Forecast 2021
The Hutchinson Island condo forecast for 2021 is one that’s good news for buyers but not so much for sellers and homeowners. This is due to the fact that the average home selling price in Hutchinson Island has dipped by 2.2% in a year-over-year comparison. This makes it one of the few markets on the Florida peninsula (and throughout the Keys) that is experiencing a downward trend, rather than growth. Read on to learn more about the Hutchinson Island condo forecast for 2021.
The Hutchinson Island condo forecast for 2021 estimates the trend of weak sales, at least for the first few months of the calendar year. Right now, the median listing price in Hutchinson Island is $347,000, with the median listing price per square foot being $238, with a median sales price of $357,500. Meanwhile, the sale to list price ratio stands at 96.22% in Hutchinson Island, with properties selling for 3.78% under the asking price.
The median days on the market or DOM for active listings in Hutchinson Island is now 135 days, which means there’s more available inventory than buyers, making it a true buyers’ market. (A market is considered balanced when there is near parity and it would take approximately 6 months to deplete all available listings.)
Another factor about the Hutchinson Island condo forecast for 2021 is the near absence of distressed properties. Because of moratoriums on most legal proceedings, there are very few foreclosures and short sales. Should these suddenly be reintroduced to the market, it would have a negative impact.
Treasure Coast Luxury Condo Forecast 2021
The Treasure Coast luxury condo forecast for 2021 looks pretty bright. In fact, current estimates predict home values will rise by nearly ten percent over the course of the next twelve months. This, after enjoying an almost seven percent rise during the 2020 year. Read on to learn more about the Treasure Coast luxury condo forecast for 2021.
The Treasure Coast luxury condo forecast for 2021 is expected to bring some very good news to homeowners, sellers, and property investors who already have assets in the area. At this time, economists and real estate experts alike believe that property values will grow by 9.4% by the end of 2021. Presently, the average home value in the area stands at more than $258,200. If the prediction comes to fruition, that would place the average home value at an impressive $282,470.
This would comport historical trends, as the average home price rose from $122,000 in 2012, about nine years ago, to its present value of more than $258,200. This, after increasing to its current value from $240,640 at the end of 2019 and the beginning of 2020.
However, there’s one undetermined factor, which is the near-total absence of distressed properties, which include foreclosures and short sales. The pandemic triggered a moratorium on foreclosures, so distressed properties are not currently playing any role in the Treasure Coast real estate market. The reintroduction of distressed properties might have a negative impact on property values during 2021.
Hutchinson Island Florida Real Estate Forecast 2021
The Hutchinson Island Florida residential real estate forecast for 2021 should fare well for sellers, homeowners, and property investors who have existing assets in the area.
The Hutchinson Island Florida residential real estate forecast for 2021 will likely be most beneficial to home sellers, owners, and property investors who have already purchased and are holding assets in the market. Over the counters of the previous 12 months, home values in the Hutchinson Island area have risen by 5.3% and that trend is expected to continue, at a pace of 9.6% through the end of next year.
Currently, the average home value in Hutchinson Island stands at $350,300 and that could rise to as much as $383,900 by the end of 2021. Of course, this will be most beneficial to sellers who place their homes on the market through the year, along with homeowners, who will enjoy greater equity gains, and to property investors, with assets they sell in the new year. Conversely, home buyers might be at a bit of a disadvantage, as values will steadily rise over the course of the next 12 months. But, buyers can still take advantage of historically low-interest rates, while prices remain affordable.
One key unknown factor is the present absence of foreclosures and short sales, due to the pandemic and moratorium on foreclosure proceedings. If these types of properties flood the market in 2021, it will most definitely have an impact not only on home values but sales activity as well.
Advice For Buying Your First Condo
Advice for buying your first condo should include the most important aspects of what you need to know. Perhaps the biggest difference between buying a condo versus a traditional single-family is the fact that these units are typically part of a community association. That will play a role in your purchase, along with your lifestyle and standard of living. Read on to learn what you need to know about purchasing your first condo.
Advice for buying your first condo should start with knowing what condo life is really like. Of course, one of the single biggest benefits is that much of the big-ticket maintenance is done by the association. Also, condos usually offer several amenities, which can include things like a clubhouse, tennis courts, swimming pools, workout facilities, and more.
What many first-time condo buyers don't realize is that the lender will have to qualify the entire community in order to approve them for a loan. The lender will look at the ratio of owner-occupied units versus leased units, occupied by renters. Also, prospective occupant owners will have to be approved by the homeowners association, and or property owners association.
When you're choosing a condo community, be sure that it fits most of your needs. These can include things like proximity to daily needs, such as grocery and drug stores, along with nearby schools, for prospective owners who have young children. Also, proximity to nearby attractions and destinations, including shopping, dining, entertainment, and more.
Getting Financed For The Condo You Want
Getting financing for the condo you want can be a bit complicated. (Though, it’s definitely not impossible.) If you’re in the market to purchase a condo, or even a townhouse or a villa, you’ll quickly learn this is different from buying a single-family property. There are several reasons for this, so read on to learn more about getting financing for the condo you want.
Getting financing for the condo you want entails a few different aspects. First and foremost, is understanding why it’s different obtaining a mortgage for a condo than it is for a single-family residence. This is largely due to the fact that a condo isn’t a type of building. Rather, it’s a legal form of ownership. That’s right -- the word condominium doesn’t refer to architecture but to the type of legal ownership.
So, it’s very important to understand that you’re not just applying for financing based on a single unit. Instead, lenders will look at the entire condo community. This means they’ll need to know how many units are owner-occupied, how many are rentals, what the cash reserves are if owners are up to date on their HOA fees, and the overall condition of the property -- including the roof and many more.
This means you’ll need to find a condo that’s in a good community that is well managed, has a large majority of owner-occupied units, and of course, the condition of the unit you’re buying, as well.
Investment Advantages of Oceanfront Condos
The investment advantages of oceanfront condos are so compelling, savvy real estate investors choose these types of properties often. The reason is simple. They offer a solid return on investment, come with a smaller acquisition cost than a single-family property, and are very easy to maintain. So, read on to learn more about the investment benefits of oceanfront condos and what you need to know.
The investment advantages of oceanfront condos mostly center around the location. The fact that these residential properties are located right on the waterfront makes them highly desirable. But, there's much more to the investment prowess of oceanfront condos. Originally conceived to give more people access to less expensive waterfront properties, condos have become quite popular in many destination locations. However, there's more to condo ownership than just its location on the water, other investment advantages include the following:
- Strong property appreciation. The very fact that these units are located right on the oceanfront means they will enjoy a very strong and steady appreciation over the years. Generally, in just half a decade to a decade's time, the unit will be worth far more than its original purchase amount.
- Applicable leverage. When you own real property, particularly real estate that's oceanfront and highly valued, it gives you leverage to purchase more to add to your portfolio.
- It builds wealth. When you own such a party asset, you add quite a bit to your net worth. That's something that makes it more than worthwhile. And, as mentioned, it's appreciation will make it more valuable over time.
Condo Renovations that Bring the Best Return
Which condo renovations bring the best returns? That’s a question many owners have, as well as property investors. After all, it’s not necessarily plain. This is particularly true because it’s not a traditional, single-family residence. However, there are key renovations condos benefit from. Unsurprisingly, these are mostly strategic, rather than purely aesthetic. (Though this doesn’t mean there aren’t any which help to add a bit of beauty.) So, read on to learn more about the best condo renovations that bring the highest returns.
The condo renovations that bring the best return probably aren’t self-evident. In fact, they are more nuanced rather than obvious. In fact, at least three are likely to surprise property owners. Here are the top condo renovations that provide the best returns on investment:
- New steel front door. Yes, a new steel front door. This can actually return almost all or more than its purchase and installation costs. It’s one of the highest ROIs in home improvement because it adds both security and a new look.
- New high-quality insulation. Okay, this isn’t exactly exciting, but it’s true. Replacing old insulation with high-quality insulation will bring a return that’s also near or at parity with its purchase and installation costs.
- New energy-efficient windows. New, energy-efficient windows will also bring a very solid ROI and make the unit look more attractive.
Lastly, minor kitchen and bath upgrades will both return a substantial amount. Just a few sensible changes will pay off big time at resale.
How to Plan the Perfect Open House
How to plan the perfect open house begins with getting in the right frame of mind. You've got to think like a buyer and ask yourself if you were a buyer, what would you most expect out of the experience? By answering this question, you'll have a clear vision and be able to come up with an actionable game plan to show your property. Read on to learn more about how to plan the perfect open house.
To plan the perfect open house, you've got to make it as welcome and inviting as possible. This is easier said than done, though it isn't complicated. Again, think about what you would want if you were a buyer and it makes the entire process less stressful. Here's how to plan the perfect open house:
- Declutter. Get rid of as much clutter as you can because the more visible space the bigger sense of space the buyers will get.
- Depersonalize. When you sell a house, you're not selling your life experiences with it. Buyers are not only uninterested in your personal life, they can easily be turned off by personal effects. This even goes for pets, so have a plan for them to temporarily stay elsewhere.
- Disinfect. A clean house will do a lot to impress buyers, especially when you pay close attention to detail. Leave no surface, corner, nook, and cranny, or area untouched.
It's a good idea to make use of as much natural light as possible and feel free to bake some tasty treats for people to enjoy and to feel the house with a pleasant aroma.
Treasure Coast Florida Condo Forecast 2020
The Florida Treasure Coast condo forecast for 2020 looks a bit uncertain at this time. But, predictions are just that and might not come to fruition and manifest in the way believed today. However, looking at previous trends and current market conditions gives us some insight into what might shake out throughout this year and into the next. Read on to learn more about the Florida Treasure Coast condo forecast for 2020.
The Florida Treasure Coast condo forecast for 2020 will likely bring a marked change from the previous twelve months. Right now, the median home value in Port Saint Lucie, the largest city in the area, stands at just over $235,700. This represents a 3.7 percent increase over the past year. Although, economists and real estate industry experts estimate that home prices in the area will decline by 1.7 over the next twelve months.
Meanwhile, the median listing or asking price per square foot is currently at about $141, but this metric is higher in the larger metropolitan area, which stands at $155 per square foot. The median list price in Port Saint Lucie is now $249,900, with a median selling price of $223,700.
At this time the market in the area is largely considered to be a cool one or a buyers’ market. This means there is a plethora of available inventory but few active buyers in the area. However, this could shift at any time, depending on what circumstances unfold in the next few months.
Health Advantages for Living on the Treasure Coast of Florida
The health advantages of living on the Treasure Coast of Florida can’t be understated. Unlike other parts of the country, particularly the northeast, midwest, and northwest, the Florida peninsula offers some of the best health benefits simply because of its climate, landscape, and lifestyle. In fact, many people chose to relocate here on the east coast of Florida because it has so much to offer, including a number of health benefits.
The health advantages of living on the Treasure Coast of Florida start with the superb weather. That’s right, the weather. Since it’s known and accurately described as the “Sunshine State,” there’s ample opportunity to get outside and enjoy the weather almost every day of the year. That means plenty of opportunities to stay active, from casual experiences to low impact cardiovascular, and even to challenge.
Called the Treasure Coast due to all the ships carrying precious and valuable cargo that sunk off the coast, this is one of the finest places to call home. Although it’s the third most populous state in the country, density isn’t a problem. Which means a lot less traffic congestion. And, since it’s in a subtropical climate, the lifestyle is much more laid back. That means no big city stress. Then, there are all the great healthcare facilities.
When it comes down to it, the Treasure Coast of Florida is simply one of the best choices for healthy living. Spend a few days or a week or more here and it will become apparent why.
Investment Advantages of Hutchinson Island Luxury Condos
The investment advantages of Hutchinson Island luxury condos are quite compelling. many of the reasons should be obvious, but this isn't always the case, particularly with people who are new to real estate investment. However, practically everyone knows that investing in real property is a safe bet, due to its very long history of strong performance, even spectacular recoveries after very short periods of downturns. Currently, the local real estate market in Hutchinson Island and beyond is set up to enjoy many years of prosperity. Read on to learn about the easy investment benefits of investing in Hutchinson Island condos.
The investment advantages of Hutchinson Island luxury condos are something that many seasoned real property investors know about and like to keep a secret. So, just what are the most compelling reasons that investing in Hutchinson Island condos makes great financial sense? Here's why:
- Prime location. The entire purpose of condos is the fact that they occupy space that is otherwise too pricey for many to enjoy. But, when split up into numerous property owners, the cost comes down, however, the location still remains highly desirable.
- Smaller acquisition price. Single-family homes come with a huge upfront commitment. However, condo units do not require much upfront investment and can still be amortized at a faster pace.
- The strong rate of appreciation. Condo units, as mentioned above, are located in highly desirable areas, therefore, enjoy a very strong rate of appreciation. That's good news for anyone Hill wants to take advantage of the value gains.
Home Staging On a Budget
Home staging on a budget doesn't have to mean that it’s inferior or not as good as those done by a professional. In fact, just about any homeowner can stage a home on a tight budget, even if you opt to hire a professional home stager.
Home staging on a budget means that you’ll have to do as much of the work on your own as possible. (This should be obvious on its own, of course.) Now, let’s take a look at how to stage a home on a budget and get the results you want, which is to sell as quickly as possible and for the most money.
Home staging on a budget begins with first clearing out the clutter. Declutter as much junk and unnecessary stuff as you can in every room, in every space, including closets and cabinets. Shoot for a reduction of down to 30 percent of the space, freeing up approximately 70 percent.
While you’re busy decluttering, you also need to depersonalize every room in the house. Get rid of all personal items, including photos, trophies, toiletries, and any other personal stuff.
Next, deep clean and disinfect every square inch of the house, leaving no corner or surface untouched.
Then, arrange furniture for maximum traffic flow and be sure to open the blinds or curtains to let the sunlight pour into the house. Oh, and don’t ignore the exterior. Cut the grass, spread colorful mulch strategically, and plant some pretty flowers. Pressure wash the exterior for an even better impact.
Treasure Coast Cost of Living 2020
The Treasure Coast cost of living for 2020 is probably less expensive than people might first think (or believe). Located on the east coast of the peninsula, slightly south of the central portion of the state, the Treasure Coast is primarily comprised of the Indian River, St. Lucie, and Martin counties. It’s so named due to the many shipwrecks that are found not far offshore in the Atlantic Ocean. And, it’s not nearly as expensive as people would imagine. Read on to learn more about the Treasure Coast cost of living for 2020.
The Treasure Coast cost of living for 2020 certainly packs a few surprises. In fact, when measured and compared against the state-wide average and even the countrywide average, the Treasure Coast is one of the most economical places to live in the Sunshine State.
In order to put these expenses in context, we’ll use a baseline of 100 as the national average. So, anything above is more costly, while anything below is more affordable. Here’s the breakdown, by category:
- Transportation. To get around, the Treasure Coast scores 87, making it much more affordable.
- Healthcare. The cost of healthcare on the Treasure Coast is 95, also less expensive than the national number.
- Utilities. For electric and other utilities, the score comes in at 96, while miscellaneous expenses are just above the national average, scoring 102.
- Groceries. The cost of food scores 106 on the Treasure Coast, making it a bit more expensive.
Lastly, we’ll look at housing, which scores among the lowest at 91, with a median home cost of $211,200, markedly below the national price of $231,200 and the state figure of $237,100.
St Lucie County Parks and Recreation
St Lucie County parks and recreation are most certainly some of the finest in the Sunshine State. In fact, whether you like to unwind and relax or have a thrilling time, it’s all right here and waiting for you to enjoy in St Lucie County, Florida. So, let’s take a quick peek at the parks and recreation that are available in St Lucie County.
St Lucie County parks and recreation offers a wide variety of experiences. And, no matter your taste, there’s probably something right here.
Located on the east coast of the peninsula, St Lucie County was formally incorporated in May of 1905. Total, it spans 688 square miles in size and has a population of more than 321,100+ residents.
Here in St Lucie County, there’s certainly no shortage of things to see and do. So, here are some of the best recreational opportunities to enjoy:
- Sports. Tennis, golf, baseball, basketball, volleyball, disc golf, and a whole lot more. There are several spots in and around St Lucie County to enjoy amateur sports.
- Exercise. St Lucie County also offers a number of spots to get into the water for a swim or for exercise. Additionally, there are several locations where you can bike, hike, walk, run, and more.
- Other recreation. Here in St Lucie County, you can ride horseback on the beach, take a stroll along a nature trail, or just take in a sunrise or sunset.
As you can see, there’s a whole lot to see and do in St Lucie County.
Tax Advantages of Owning a Vacation Rental on Hutchinson Island
Tax advantages of owning a vacation rental on Hutchinson Island can really make all the difference in an investment opportunity.
Practically everyone knows that real estate is an excellent investment, equal or even more lucrative than well-performing, long-established mutual funds. Not only is owning a vacation rental an excellent destination getaway, but it can also serve to generate a passive income.
That income can become even better by using the tax code to your advantage. After all, it's important to maximize your ROI to its fullest potential. Read on to learn more about the tax benefits of owning a vacation rental property on Hutchinson Island.
The tax advantages of owning a vacation rental on Hutchinson Island are what help to make the investment worthwhile.
Basically, the tax benefits come in two forms: operating expenses or carry costs and depreciation. It's these two things that you'll use in your tax filing to increase the cash flow of your vacation rental home.
Operating expenses or carry costs are any outlays made in relation to maintaining the property, including routine maintenance, emergency repairs, replacements, improvements, and similar expenses.
Depreciation is the amount you are able to write off every year in relation to the value of the property. You can deduct a certain amount from your taxes through a depreciation schedule, working with an experienced tax professional to maximize your return on investment.
Additionally, there are also miscellaneous expenses you can either write off or purchase at a discounted rate when they are applied to a rental property.
Hutchinson Island Condo Forecast 2020
The Hutchinson Island condo forecast for the year 2020 looks like it will be a strong one, particularly for sellers over buyers. However, this isn't to say that the Hutchinson Island residential real estate market will not offer buyers any opportunities next year. Although, if the trends experienced over the course of the past year continue along expected trajectories for 2020, Hutchinson Island will mostly remain a sellers' market.
Located on the east coast of the Florida peninsula, as a barrier island between the Atlantic Ocean to the east and the Indian River to the west, Hutchinson Island is considered one of the most desirable places to live in the Sunshine State.
The Hutchinson Island condo forecast for the year 2020 will likely produce better results for sellers rather than buyers. Here's what you need to know about the Hutchinson Island residential real estate condo market for next year.
Over the course of the past twelve months, the residential real estate market in the Hutchinson Island community has risen by about 2.5 percent. At this time, the median residential property value in the area stands at $307,400 (which includes single-family residences, condos, and townhomes).
The market has mostly favored sellers in the past several months and the median list price per square foot is now at $286, with a median list price of $350,000 and a median selling price of $314,700 (which also includes single-family residences, condos, and townhomes).
So, next year will probably experience a correction, bringing the balance between buyers and sellers closer to parity in 2020.
Treasure Coast Florida Real Estate Forecast 2019-2020
Treasure Coast Florida real estate forecast from 2019 through 2020 is one that looks quite bright. Spanning three to four counties along the east coast of the peninsula, the Treasure Coast is one of the best places to live in the Sunshine State. It’s also enjoyed a solid residential real estate performance over the past year and is expected to continue it on into next year. Read on to learn more about the Treasure Coast Florida real estate forecast from 2019 through 2020.
Treasure Coast Florida real estate forecast from 2019 through 2020 ought to bring homeowners and homebuyers alike a smile. This is due to the fact that the market is largely balanced, being near parity between buyers and sellers.
Running through Indian River, St. Lucie, and Martin counties, the Treasure Coast is so named due to the many shipwrecks in the waters which carried gold, silver, precious gems, and other valuables.
It’s also one of the best places to live in the state, with the median home value of $156,600 in Fort Pierce, one of the largest and most important cities in the metro area.
Overall, home values have risen by about 8 percent over the past year and experts predict a rise of approximately 5.5 percent over the next year.
The median list price is right around $131 per square foot to $154 per square foot. Currently, the median list price runs around $209,500 in Fort Pierce, with a median selling price of $147,400.
Dealing with Condo HOAs
Dealing with condo HOAs can be very frustrating at times. It’s one of the few downsides of homeowner associations. After all, these organizations take care of routine maintenance and help to keep the community looking its best. Plus, they can be a real lifesaver for big projects, such as roof replacement and more. Read on to learn more about how to deal with condo HOAs.
Dealing with condo HOAs can sometimes be a tradeoff. Sure, it’s best when there isn’t any friction. But occasionally, issues will arise. So, it’s best you know how to go about dealing with condo HOAs. Here are a few helpful suggestions for dealing with condo HOAs:
- Go Over The Bylaws And Other Rules. If you have a problem with a condo HOA, the first place to begin is with rules. Read over these carefully to know what’s what.
- Persuade But Don’t Challenge. You might be ready to take immediate action but if you go at it with an outright challenge, you’ll probably meet hard resistance. Instead, go with a soft tone and nonaggressive tact by trying to persuade rather than challenge.
- Lobby Neighbors to Your Side. Should it be something that’s also irritating your neighbors, that’s a good sign. Speak with neighbors and get them on your side, then appeal to the HOA together.
- Go Through The Process. Most HOA disputes offer a process. Go step by step and if you can’t come to an amicable resolution, speak with an experienced real estate attorney.
Hutchinson Island Recreation
Hutchinson Island recreation has something for just about everyone. From fun in the sand and surf to learning about local history to enjoying a great dining experience or shopping in boutiques, there’s much to see and do in Hutchinson Island.
Hutchinson Island recreation has the advantage of being diverse. Unlike some other popular destination spots, Hutchinson Island has a whole lot to offer.
Located near south Florida on the east coast of the peninsula to the south of Fort Pierce and to the north of Palm Beach Gardens, Hutchinson Island is a wonderful place to visit and an even better place to live. Here are some of the best things to see and do in and around Hutchinson Island:
- Watersports. Okay, we’ll begin with the water because that’s obviously the biggest draw for coming to Hutchinson Island in the first place. Jetski, parasail, powerboat, or try something else new.
- Fishing galore. From fishing from the shore to going out a bit beyond the break to deep-sea fishing, Hutchinson Island is a terrific place to try out your angling skills.
- Water play. Snorkel, scuba, or just wade in the waves. There’s much to do on the beach and along the shoreline. You can also take a day to soak up the sun’s rays and perhaps enjoy a sunset or a sunrise.
- Enjoy some culture (and/or history). There are a number of museums and educational centers. Elliott Museum, The Florida Oceanographic Coastal Center, the House of Refuge Museum, and more.
Hutchinson Island Condo Market Forecast
The Hutchinson Island condo market forecast is a hot one for the near future, with some cool off coming over the next several months.
Located on the east coast of the Florida peninsula, Hutchinson Island is a barrier island just to the east of Jensen Beach, with Jensen Beach to Jupiter Inlet Aquatic Preserve to the immediate west. Florida State Road A1A runs right down the middle of Hutchinson Island, with the Atlantic Ocean off to the east.
This is one of the most desirable locations to live on the east coast of the Sunshine State. So, let’s take a look at the Hutchinson Island condo market forecast, its present state, and what to expect.
The Hutchinson Island condo market forecast is part of the overall residential real estate market. And, it’s one that very active at this time. Right now, the median home value in Hutchinson Island stands at around $303,000.
Over the course of the past year, home values on Hutchinson Island have risen by nearly 2 ½ percent, with real estate industry experts and economists predicting a slow increase of just under 1 percent for the next year.
At this time, the median list price per square foot in Hutchinson Island is approximately $286, which is actually more than the Port St. Lucie Metro average of $153. Meanwhile, the median list price of homes currently for sale in the community is nearly $350,000. Although, the median selling price is almost $274,000.
As you can see, Hutchinson Island real estate market is a strong one.
How To Get Financing For A Condo
You should avoid looking at any condominiums that you cannot afford. Why put yourself through the heartbreak of falling in love with a condo and then be unable to get the money to pay for it. You also need to be careful when it comes to getting financing that you know you won't be able to realistically stick with making the payments every month. Don't put yourself in a position where you could possibly face foreclosure.
How To Find A Lender
Make sure you take the time to find a lender who has lots of experience in the market so that you will be able to find the condos that have the best options for what your needs are. Ask coworkers, family members, and friends who they have worked with within the past. There is a good chance you know somebody who bought a condo over the past year. You can also look online and evaluate lenders that way and then get appointments set up to speak with them.
Be sure to ask them questions regarding their experience since you want to have a lender who is easy to work with. Also, make sure they communicate well and are friendly. They should answer any questions you might have for them and return calls in a timely fashion. They will be able to guide you through the entire application process. Be sure to accurately fill it out and don't skip any section. Discuss the application with them if you aren't sure how to fill certain parts out.
Never omit details or lie on your application for a condominium. Always be honest and provide them with whatever documents are needed for the processing to get completed. The verification that they may ask for include consenting to a credit report, a photo ID, verification of income, and tax returns. For self-employment, profit and loss reports will be required.
Evaluate Your Loan Offer
After the loan is completed, they will be able to discuss with you what can be offered on a condominium. It includes the maximum loan amount, interest rate, and the amount your monthly payment would be on the loan amount. If you are able to find a condo for less money, then you will have a lower monthly payment which is always good.
Ask lots of questions, if you don't fully understand the offer. Don't rush into accepting the offer until you completely understand all of the details. This is a long-term commitment you are making when you purchase a condo, so in this part of the sales process make sure you don't leave things to chance. After you are completely satisfied with the offer, you will be ready to find your condo!
In this area, there are many people who are interested in purchasing condos. However, you will have more purchasing power if you have been approved for money already. For the seller that is very meaningful. They will be much more willing to negotiate with you on the price than trying to hold out to get more money for offers they might get in the future.
You should also compare prices on condos in different locations since one in a certain neighborhood could cost a lot more money than one that is only a couple of miles away. If you are going to have to stretch the money you are getting with the loan, make sure to consider that. It might be worth it to have a slightly longer commute but more space than the opposite.
Hutchinson Island Things to Do
Hutchinson Island things to do, ranging from an outdoor nature walk to America’s favorite pastime, to honoring the country's military heroes. But, that isn’t all. There are several things to see and do in Hutchinson Island, so let’s get right to it.
Hutchinson Island is located on the east coast of the Florida peninsula. It’s actually two different islands, which span over two counties. The islands are separated by the Fort Pierce Inlet and border the Atlantic Ocean. The area is well known for its gorgeous beaches, wonderful nature preserves, and pristine parks. Here are the top things to see and do in Hutchinson Island:
- Florida Oceanographic Coastal Center. Visit this 57-acre marine life center and be sure to bring the kids. This is a great learning experience and one that’s full of interesting information.
- Go to a Ballgame. Just a short drive away is First Data Field, where baseball provides an excellent escape. Stop by, spend a day, and enjoy a game, good food, and fun.
- Visit the Navy SEAL Museum. Take a journey back in time and discover the origins of the Navy SEALs. See equipment, explore missions and tactics, and a whole lot more. You might even see a SEAL K9 in action!
- Riverwalk And Indian Riverside Park. Both boast remarkable scenery and a chance to see unspoiled Florida nature. Additionally, there’s Savannas Preserve State Park and Halpatiokee Regional Park. Or, visit the McKee Botanical Garden.
Come to Hutchinson Island and experience all there is to see and do!
Benefits Of Condo Living
Many people today have discovered that living in a condominium suits their budget and lifestyle. It is perfect for busy people and provides a built-in community should you choose to explore all of the advantages offered.
Here are some suggestions to help you make the most of your condo living experience.
First, check out the amenities available and use them regularly. Common ones include a place to exercise and a swimming pool. You will save money by not having to join a gym, which can be costly over time. One of the great things about working out in your condo gym is that you do not have to travel to exercise. This should make it easier for you to motivate yourself to stay in shape.
The swimming pool also offers great exercise and can allow you to meet your neighbors in a relaxed setting. Many people today are very busy and live in an area where it is difficult to meet new people. In a condo, you have several ways to socialize with the people around you besides the swimming pool.
Many complexes have regular cookouts or parties designed for this purpose. If yours does not, you can still talk to your neighbors and invite them to a neighborhood barbeque. This gives everyone the opportunity to get out of their small apartments without leaving the comfort of the home base. If your condo has a council, join it.
Getting involved will make you feel more a part of the community in which you live. It also allows you to participate in the decision making that creates the rules and regulations for everybody. Doing so increases your feelings of being in control of your living environment and creates a better overall experience for you.
Do not keep yourself stuck on the property. Condos are generally placed near a variety of places that young and/or single people can enjoy. Take advantage of the nearness of malls, grocery stores, and entertainment outlets. When the weather allows, walk to these venues. This gives you the opportunity to get exercise and meet your neighbors, both those from your condo complex and others who live nearby.
About Hutchinson Island
The Hutchinson Island real estate market is one that’s quite complex. This is largely due to the fact of its geography. Hutchinson Island is actually two barrier islands located off the coast of three Florida counties: St. Lucie, Martin, and Indian River. This means land is at a premium on Hutchinson Island and therefore, housing is likewise at a premium, meaning it’s limited.
About Hutchinson Island
Hutchinson Island is mostly known for its wonderful beaches, its gorgeous nature preserves, and its pristine parks. Interestingly enough, part of Hutchinson Island remains unincorporated to this day. Hutchinson Island is home to one listing on the National Register of Historic Places, the House of Refuge. Hutchinson Island is also home to the Elliott Museum, and the Florida Oceanographic Coastal Center.
People come to Hutchinson Island to enjoy its many sights and experiences. Hutchinson Island is also a great place to call home and is centrally located in the state, it’s not far from some of the best Florida has to offer, including theme parks, and the Keys.
Hutchinson Island Real Estate Market Forecast
The Hutchinson Island real estate market is currently experiencing a buyers market. Meaning, there are fewer active listings and not many more expected to come on the market soon. This obviously gives buyers an advantage in residential real estate negotiations.
Currently, the median listing price in Hutchinson Island stands at $334,800 with a median listing price per square foot of $223. However, the median sale price in Hutchinson Island is $257,500.
The median home value, meanwhile, is $301,700 and home values have risen by 7 percent of the course of the past year. Real estate experts believe home values in Hutchinson Island will continue to rise in 2019 but at a slower pace of 1.3 percent.
Mortgage delinquencies are just a bit higher than the national average, with approximately 1.2 percent of homes in the first part of the foreclosure process, compared to 1.1 percent nationally.
There are a few factors working in the Hutchinson Island real estate market that will help to define 2019. Mortgage rates, although on the rise, remain quite low and affordable. Also, with few homes on the market, buyers have an advantage and can jump in with confidence. Sellers should take their time and hold, if possible.
As you can clearly see, the Hutchinson Island real estate market is a complicated one. So, it’s best to work with an experienced professional whether buying or selling.
Fort Pierce Cost of Living
The cost of living in Fort Pierce, Florida will probably surprise you, once you see it compared to the national and statewide averages. Here, it’s more affordable to live than most other locations in the Sunshine State. And, it comes with a whole host of benefits, from nearby amenities to the wonderful weather and so much more. So, let’s take a quick look at the cost of living in Fort Pierce, Florida.
About Fort Pierce, Florida
Located on the east coast of the peninsula, Fort Pierce is home to the National Navy SEAL Museum, a collection of naval artifacts, military vehicles, weapons, and more. Fort Pierce is also nearby the Inlet State Park, which includes a sandy beach, making it a popular spot for walks, sunsets, swimming, and more. Then, there’s also the A.E. Backus Museum and Gallery, where visitors can see the works of a local, 20th-century painter. Fort Pierce is also home to the Heathcote Botanical Gardens, which includes tropical bonsai and more.
Advantages of Living in Fort Pierce
There’s a reason nearly one thousand people relocate to the Sunshine State, on average, each and every day. First of all, there’s the terrific weather. While it’s quite warm in the summer, the winters are very mild. And, the fall and spring seasons are extraordinary. Florida is also a very business-friendly state, so there’s always plenty of employment opportunities. What’s more, there is no state income tax, which is a huge financial benefit.
Fort Pierce Cost of Living
Okay, so the location is right, there are a plethora of things to do and see in and around Fort Pierce, and it’s in a tropical spot. But, there’s more good news. Here’s an overview of the cost of living in Fort Pierce:
- We’ll begin with the cost of housing in Fort Pierce, which is one of its biggest benefits. The cost of housing in Fort Pierce is below the median cost of $216,200, coming in at a very affordable $136,800. (By comparison, the statewide average for a home is $222,000.)
- Groceries and health care are the next set of numbers. For a baseline, the average in the United States is 100 for all categories. Fort Pierce stacks up pretty well, with health care coming in at 101 and groceries at 102.7.
- Meanwhile, utilities and transportation are both below the national and state numbers, at 95 and 98, respectively. (The state averages are 101 and 130, respectively
Hutchinson Island Luxury Oceanfront Condos
Hutchinson Island luxury oceanfront condos. Just think about the possibilities. Here in Hutchinson Island, a barrier island located on the east coast of Florida in the Atlantic Ocean is a great place to call home. (Or, a wonderful place to invest in a residential real estate.)
If you’re considering buying a luxury condo, it’s definitely worthwhile to check out Hutchinson Island. It’s known for its terrific location, wonderful weather, and much more.
Hutchinson Island Luxury Oceanfront Condos
Hutchinson Island luxury oceanfront condos have plenty to offer. Not only are they right in one of the best destinations on the peninsula, but they are also in a location that continues to enjoy so many amenities. Meaning, there’s no shortage around here, offering residents and visitors alike various types of tasty fare, retail therapy, entertainment, and more.
Hutchinson Island luxury oceanfront condos are a solid real estate investment because they have so much to offer, including the following:
- Larger Square Footage. Many Hutchinson Island luxury oceanfront condos boast large floor plans. Which means they can accommodate bigger families and/or groups. That translates not only into a good choice for owners but for investors who rent out to tourists.
- TerrificViews All Around. If there’s one great amenity to Hutchinson Island luxury oceanfront condos, it’s definitely the location. And, location means awesome views.
- Better Rental Opportunities. Hutchinson Island luxury oceanfront condos typically come in large floor plans which means they offer more space. And, larger spaces command larger rents for owners who opt to earn a passive income. Of course, the views also help to boost rental rates, which makes it an even better investment.
- Solid Rate of Appreciation Into TheFuture. We’ve all heard the old cliche that real estate is about three things: location, location, location. Since Hutchinson Island is a highly desirable area, location is most definitely a big asset because it means strong appreciation.
It’s also important to remember that Hutchinson Island luxury oceanfront condos also give investor-owners a dedicated place to vacation. There are likewise tax benefits to owning another property. Better still, investing in a Hutchinson Island luxury oceanfront condo means having an effective income stream. Even if you don’t rent it out and choose to call Hutchinson Island, you can still enjoy living in a state without an income tax. Which means you get to keep more of what you work so hard to earn.
If you’re considering buying a Hutchinson Island luxury oceanfront condo, there’s no time like the present to take action.