Rentals in the Jupiter area are tight
Good rentals are getting hard to find and the rent prices are increasing. This is probably good news for the Jupiter/Palm Beach Gardens/Tequesta housing market overall. Why? Because it means the inventory of homes for rent is shrinking, probably because many of the houses investors were trying to rent have been foreclosed on or sold as short sales. Now that those houses are off teh market, often as the buyers' primary residence, there aren't as many left for sale or rent.
I recently worked with renters who missed out on two properties because they had just started looking and weren't sure what was on the market and hesitated to bring an offer until they had seen more properties. Another unit came on the market and we took a look at it the first day and submitted a contract to lease the very next day. There were 2 other offers on that unit in Abacoa on day 2 of the lisitng. We were fortunate to get it because my renters had a very good credit rating and no pets. I was getting concerned that we wouldn't be able to get them into a unit they liked because theere just aren't that many out there, and the good ones go fast!
I've also noticed sale prices inching up lately, also due in part to the lower inventory. The inventory of homes for sale or rent in Abacoa, for example, is the lowest it's been in about 6 years. So what does all this mean?....it means the market is starting to turn from a buyers market to a more balanced market. If you're thinking of buying or renting, I'd recommend doing it sooner rather than later. The median home price in Palm Beach County is half of what it was at the height of the market in 2005/2006 (it was over $400K, now it's about $180K), and the interest rates on mortgages are ridiculously low. It won't always be like this...make the move now if you can....don't miss the bus!