Home Buying in Jupiter>Question Details

Jp, Other/Just Looking in Jupiter, FL

I'm trying to find information on Lennar's Rialto development I was recently quoted prices in the mid to high 600's for a Stockton model e

Asked by Jp, Jupiter, FL Sat Nov 16, 2013

I'm trying to find information on Lennar's Rialto development. Lennar is now trying to get over $650K for an upgraded Stockton model even though the most recently closed upgraded Stockton in Rialto sold for just $525K on October 31, 2013. Rialto is now priced 30% over where they were just 6 months ago, which would seem to indicate a mini-bubble within the community.

Has anyone purchased a home in Rialto in the past 60 days or so? If so, what was your experience?

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Tom Priester’s answer
Thank you JP. As you know finding the right deal can take patience and the hunt must be properly planned. If I can be of any help to you or your family just let me know.

Fins up..........
0 votes Thank Flag Link Mon Nov 18, 2013
JP,

I know the Rialto community very well and on the right lot with the proper strategy you can still do very well. One of my clients has a Stockton under construction and the base price was $517,990 but that was without any lot premium or options. Lennar was offering some incentives so with a little strategic planning they will be in the home on a great lot with a nice option package for a little over $550,000.

If you have not registered at Rialto, or any other new home community, please do not do so without having a Realtor by you side. Please feel free to give me a call as in Rialto I can probably save you thousands of dollars compared to what you would spend if I wasn't there to work with you. Just make sure you ask me about my new home experience package. The new home experience needs to be fully understood as their contracts are very one sided and you need to know what potentially that can mean to you. You will also find that there are significant expenses that the builder will pass along to you that in a resale contract are almost always paid for by the seller. Be VERY careful with quoted timelines; I have another client who believed what DiVosta told them for a projected closing date and we are now about three months behind and I cannot tell you what problems that is creating.

By the way I love the Stockton and it is indeed a great floor plan; I love the guest suite on the back of the home off the family room. Their Stockton model has finishes that make the home shine in it's best light as the dark wood floors and custom cabinetry ooze "buy me". It is also the 2nd smalls floor plan in the Estates Collection so the old "buy the least expensive home in the most expensive neighborhood" cliche comes into play. Be very careful on lot selection as you know I-95 adjoins the community and even though walls and set backs have been incorporated you need to make a visit after dark with a couple lawn chairs in your potential back yard. I'll bring the wine! Rialto, like most builders, have benefitted greatly from the lack of inventory and strong real estate market we have experienced over the past year. They have increased prices and even pulled their last section of lots for the Executive Collection at Rialto off the market which may turn out to be a poor decision. They have raised prices but if the market continues to slow as we have been experiencing look for that to change.

In Jupiter we have seen seen single family home sales drop for three straight months; most recently by 32% to a new 18 month low. Inventory levels were up for the 2nd straight month to the highest levels we have seen in 5 months and you may be interested to learn more about these topics by reading the articles we recently published on Trulia that can be accessed using these links;

http://www.trulia.com/blog/tompriester/2013/10/jupiter_home_…

http://www.trulia.com/blog/tompriester/2013/10/home_inventor…

However the market is constantly changing and you need to know at any point in time how the current metrics will affect you on the purchase of any unique parcel. We have seen signs that would point to higher prices ahead with absorption rates improving slightly in Jupiter over the past 30 days. However interest rates are up another 7 basis points this week to a new 8 weeks high and you should fully understand the interest rate risk you could be taking by starting at square one with new construction.

I do have insight on any new opportunities that become available in Rialto so if you have not already registered in that community and you want to save some money and secure a great deal please feel free to contact me at your convenience. Understand that a qualified Realtor® who understands the local market will be your best advocate in making wise and financially sound decisions.


Fins up,



Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
1 vote Thank Flag Link Sun Nov 17, 2013
Thanks. I appreciate the information on current inventory in Jupiter. I've decided to hold off on Rialto for the time being as I think they've gone from offering a decent value about 6 months ago to being significantly overpriced today. Lennar just list priced a Stonegate at $820K which makes it more expensive than many homes in Jupiter Country Club--which has been anything but a successful development. I may end up looking for a resale in the area or going to Abacoa.
Flag Sun Nov 17, 2013
CLICK HERE for all Lennar's Rialto current MLS Listings in Detail
http://www.miamihomestore.com/listings/areas/40691/maxprice/…
0 votes Thank Flag Link Sun Dec 15, 2013
Lennar homes are complete garbage. They use the cheapest materials on the workmanship is very poor. The structural components of the home have been cheapened to the point that they barely meet local building codes. Realtors should know this, buyers run from any realtor who thinks Lennar builds quality homes.....shame on you.
0 votes Thank Flag Link Thu Dec 5, 2013
Hi, JP,
Please call me (561)827-6789 . I will keep you updated on similar homes., You may discover a wide price range offers homes with the space & amenities you prefer in Rialto and many fine communities in Jupiter .
Julie Rosenthal YOUR Go-To Jupiter Expert
Julier6789@gmail.com
http://www.JulieSellsJupiter.com
Property Brokers International
0 votes Thank Flag Link Sun Nov 17, 2013
Rialto is a beautiful community and the clubhouse with waterpark is a hit with kids.

Yes, the Stockton is one of their more expensive homes. The price you see closed may be a home with fewer options and also less expensive lot. Also remember they take 6-8 months to build so the previous sale was in contract a long time ago.

We work very closely with All of the developers in Jupiter and offer a 1% cash back at closing credit on the base home price which can save you thousands for use on upgrades or closing costs.

Please contact me before you meet with the sales center to get the credit on a purchase.
0 votes Thank Flag Link Sat Nov 16, 2013
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