Is Jenson Beach a good place to live? (Jupiter, Vero Beach: sales, foreclosures)

[Peter Ferg]

I am thinking of buying an investment/vacation condo in Portfino at Jenson Beach.Can anyone tell me about portfino , the jenson beach area , taxes , crime , and the value of these 50 k condos in 2005.Any other info would be very helpful , Thanks.

[TriMT7]

Originally Posted by Peter Ferg

I am thinking of buying an investment/vacation condo in Portfino at Jenson Beach.Can anyone tell me about portfino , the jenson beach area , taxes , crime , and the value of these 50 k condos in 2005.Any other info would be very helpful , Thanks.

Portofino is a fairly nice development in an OK location --- it's off US-1 near the mall and supermarkets and shopping. You're maybe 10-15 minutes from the beach. I have a friend who rented there for a year in 2003. He loved it. It since went "condo conversion" and the prices skyrocketed towards 200k.

Jensen Beach is a safe, laid back town. Not a whole lot going on, but it has uncrowded beaches, causeway and intracoastal access perfect for boating or jet skis, and a little downtown area. It has experienced growth the past few years, but maintains a quaint old Florida feeling.

[Synergy1]

I too was thinking of investing in Portifino until I began tracking their rental and sales history...I visited the condos 4 times... They were new refurbs and good to great looking..Portifino location is good and the company has a good idea but I have no idea as to why they didn't sell as I had expected...Taxes here are higher than most areas... Maybe too many larger units in the area as a whole or too many investors hoping for the best as investors grew in 2004-2006....I believe that now is the time to invest in PSL, Jensen Beach or Stewart areas.. I love PSL not only because i live in a new 4brm,3bth home but there are many things to our liking...The crime in the area is closely watched and the Police do a great job...No nonsense Police which is fantastic.

[Peter Ferg]

Where else in Jensen Beach or surrounding areas should I look for a 1 bed condo in thec 50k range? Thanks guys you have been very helpful

[Lilybeans]

Cedar Point or Vista Pines in Stuart might be something to look at.

[Synergy1]

50k is a really tough amount for Jensen Beach. Jensen Beach Portifino is 100 yards West of US Rte1 and on the East side of Rte 1 is most desirable but the prices jump in residential areas.

Portifino for the price of 50k would be my choice...Check out the taxes first...

[Lilybeans]

I see a lot of crime coming out of Portofino. Plus, it is right on US1, and just not that desireable, imo.

[runswithscissors]

You rarely want to be on US 1 on the East coast of Fl with a couple exceptions. I'm not familiar with all of the exceptions but Tequesta is one because US 1 means you're on the Intracoastal in that village. There are almost no intersecting streets the ICW comes so close to Rt 1 there. Perhaps Jupiter too but not as much as Tequesta.

Sebastian and Vero Beach also, south on Rt 1 you're on the Intracoastal and that part of Rt 1 isn't as bad as many other parts. But not all the homes are really directly ON the WATER.

It's tricky. As you drive down along the Intracoastal you can be right up on top of US1 or several blocks away and in that case it's usually yukky meaning you don't want to be directly on it unless your backing up to the water.

If you can do 55+ you can get a great condo in that price up in Vero Beach, an excellent community with no "ifs" or "buts" here. I've seen some for 32.000 that have completely renovated or gutted since 2004 and 2005 hurricanes. Very reasonable living and very nicely done. These particular condos even have small golf courses. If it's your primary residence eventually, you get homestead property tax exemptions in Florida too.

The prices are at 2004 imo, and some much earlier. Some are in 1999 prices. I just bought a condo here that was only about 25% more than in 1987 when it was new, and it's been completely renovated from roof to floor since then (in 2005 / hurricane). I don't think the people ever even used it since then, to tell you the truth. It is on Rt 1 and the Intracoastal with a 50 acre nature preserve in between the condos and the water that the condo assoc owns. The preserve is actually fixed up as a nature trail that you see in state parks etc. With some animals roaming around, benches, displays about wild life etc. We have a canal and a boat launch and a deck with picnic benches and stuff on the ICW past the preserve (you walk out through the preserve). It's really lovely and quiet and in this case the Rt 1 thing is great because the shopping is only .7 mile up the road. South of us on Rt 1 there is nothing really, for quite awhile. If you looked from Rt 1 you'd never know it's a great as it is inside. There's a big variance in pricing because of the interior and even exterior for example what the view is. Not all the buildings had hurricane damage so some have original kitchen cabinets for example. They're not bad, just 80's LOL. But by now, very many have been updated. Same with new windows, floors mechanicals etc.

People want out or their heirs are reducing just to make a sale sometimes also. Not all the good "deals" are foreclosures either. The prices are just adjusting. You have to watch now, foreclosures and abandoned properties are really a bad thing here with broken pipes/leaks causing mold in neighbor's condos for example. I had agents show me at least 30 properties that were abandoned and the listing agent didn't even tell us and they were so gross I had to run OUT from the mold and mildew. Then there are others that are just great and still cheap. It's a mess but not unilaterally.

[Peter Ferg]

Thanks for the info.Could you tell me where to look in vero Beach.Thanks

[Peter Ferg]

Can an existing condo like Portofino go bankrupt and what would happen to the property then?