Susanne Quirk

I was at the mall last weekend and noticed that the Lilly Pulitzer store is now open. Located next to Victoria’s Secret with a beautiful display of prints that are so familiar to us all in Florida. What caught my attention most was the little trail of palm trees that meandered from the store to the atrium where a Lilly-like jeep was displayed. The jeep was covered in pretty green and pink floral prints and was displayed with some of Lilly’s new line of clothing specifically designed for A Colorful Cause.

Lilly Pulitzer has partnered with nine American starlets. All mothers, each celebrity designed a look for women and children. Proceeds are donated to fight epidermolysis bullosa, a devastating skin disease. Celebrity designers included Gwyneth Paltrow, Bridget Moynahan, Angie Harmon, Elisabeth Hasselbeck, Catherine Bell, Brooke Shields, Marcia Cross, Debra Messing and Garcelle Beauvais-Nilon.

Open House Sunday, April 19, 2009 1:00 - 4:00 p.m.

Cobblestone Realty will be hosting an Open House this Sunday in Egret Landing at Jupiter. You won't want to miss seeing this home. It is the lowest priced home in the community. Located in a quiet cul-de-sac, this home is great for families. An oversized lot with 4 bedrooms and 2 full baths, it is a great open floorplan with great potential for a pool and much more.

Open House by Cobblestone Realty

Where: 204 Banyanwood Point

When: Sunday, April19, 2009

Time: 1:00 - 4:00 p.m.

Directions: From 95 take Indiantown Road east, south on Central Boulevard, right onto Egret Landing Boulevard, Rt. onto Egret Cir. N., Lt. onto Banyanwood Point.

Abacoa is one of the more recent communities developed in Jupiter. We have been residents of Abacoa for over six years. We enjoy the close proximity of restaurants, shops, work and school. It is a young community were the average adult age is approximately 36 yrs. However, it caters to every age group. It is a planned community on over 2,055 acres of land, including some areas of greenway preserves throughout the town.

Roger Dean Stadium has become the home for spring training for the St. Louis Cardinals and the Florida Marlins. The stadium is conveniently located in the heart of Abacoa and brings great family entertainment to our community. Other fun-filled activities include golfing at Abacoa Golf and family nights at the Abacoa Town Center. The Abacoa Town Center is filled with retail shops and restaurants. Most weekends at the town center are filled with live music, movies, and festivals for residents to enjoy. Other businesses in the area inlude Florida Atlantic University and Scripps Florida Institute. Since Scripps arrival, Abacoa has become a hub of scientific technology with the following of the Max Planck Society and other scientific institutes from around the world.

There are many community of homes that make up Abacoa. A wide selection homes are currently for sale. Prices begin at $84,000 for a condominium at the Village at Abacoa, located directly above the town center shops. Townhomes in Antigua begin at $154,900 and single family homes start at $305,000 in Paseos and top out at just over $1,300,000 in Valencia.

For more information about the communities in Abacoa, visit our community page about Abacoa or the Abacoa website.

The down turn in the housing market hurt a lot of people who thought they would make it rich flipping houses. Heck, everyone was doing

it. It looked so easy. Just tap the equity in your primary home and wham! We’re raking in the money. No problem it’s easy money. Right about now is where you remember the saying, if it sounds too good to be true…it usually is too good to be true.

The clean up of all of this mess created by neophyte investors will take longer than necessary. Coupled with the finance problems in the mortgage industry and the tightening of money by most, if not all lending institutions, have created instant landlords out of flippers. I guess here is where I trow in the line with the realization that something is better than nothing. Yes my friends, we have a surplus of rental units on the market. In Abacoa alone the streets were lined with For Rent signs most of last year. The signs are starting to disappear one by one and the money from the rental market is flowing in again.

Opportunity! With every twist in the markets, there are opportunities for everyone. The way I see it, there’s good news and bad news.

First the good news…the surplus of rental units has created a price war amongst property owners. Locally, rent prices have dropped substantially in the last year. Renters now make “low ball” offers hoping to drive rents down even further knowing there are many eager (hungry) owners. Rental units that were commanding $2,000.00 per month now are renting for as low as $1,400.00. That’s a 30% decrease and a huge savings for the renter. That’s good news…for the renter.

The good news for the flipper now turned landlord, can see this as the opportunity that keeps him from foreclosing and allows him to wait out the market correction. (I know you are asking,”When is that?” It’s coming. Trust me. It’s just not this week.) The ultimate benefit to all this is that the lower housing costs and lower rents will make it more affordable for people to stay or move into the area. We have hardworking teachers, police officers, health professionals, etc. who have dedicated their lives to giving back to our community. We want to keep qualified and dedicated people as citizens of our community.

Now the bad news. With the surplus of rental units available in the Jupiter and Abacoa area, many rental properties are rented without properly screening tenants beforehand. Background investigations are not being conducted. Even worse, some owners are not requiring a security deposit, last month’s rent, or even any money at all to move in. Who are your new neighbors?

As an investor in Jupiter and Abacoa residential real estate, I personally take pride in my homes and tenants. I consider most of my tenants friends and would love to keep them as long as possible. I also require background checks, security deposits and last month’s rent. Have I ever had a problem with a tenant? You bet ya! Although, I do the best I can to protect myself, I have been caught a couple of times buy renters who”fled into the darkness.” However, we are ahead of the game and find the benefits far outweigh the bad.

If you have investment property and need to find a renter, work with a Realtor who can complete a background check for you. Know who is renting your property. We who live and work in Jupiter will applaud your efforts to keep our community safe. Protect yourself financially by always collecting a security deposit and last month’s rent from your tenants.