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"AT THE BLUFFS" Newsl
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WHAT'S SELLING AT THE BLUFFS MAY 2020
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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
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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
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
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LEGAL CORNER with ANDREW PINEIRO, Esq.
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, [email protected].
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Jupiter Coastal Properties
Bluffs Ridge
137 Beach Summit Ct
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
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Jupiter Coastal Properties
Available Services
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.
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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