Need space for your 65' boat? I have been keeping an interested eye on a dock in Jupiter as it is a foreclosure that has already been on the market for 94 days. Originally listed at $159,900 back in October they have been chopping the price $10,000 a crack about every thirty days. The last price reduction took it down to $129,900 which is just about a 50% discount to the last sale back in September 2008. Not sure how closely dock sales mirrored the overall real estate market but this last sale was a good 2.5 to 3 years after the peak.
This is really kind of an interesting perspective that I am going to continue watching. So what was this dock worth in days of yore? Well I find four previous sales;
In December of 1994 this dock sold for $45,000
In February of 1996 it sold again for $65,000; a very 44% increase in just about 14 months.
In April of 2001 it was sold again this time for $80,000; here is took 62 months for the value to increase by about 23%.
The last sale was in September 2008 for the hefty sum of $260,000 a huge 225% jump in a little less than 7 1/2 years.
So where has the value gone today? At some point a buyer will surface and let us know.
If you are looking for a dock, or maybe something on firmer ground, "Results Driven Real Estate" would love the opportunity to provide a complimentary consultation and a careful review of your real estate goals.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty