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Real Estate Advice

 
Thursday, January 24, 2013

It has been a busy year for me so far in Berkley South and I am pleased to announce another new listing, Residence 3A offered at $239,900. This 2 bedroom and 2 bathroom remodeled corner unit is 1,450 square feet and has been updated with comfort in mind. Its’ kitchen has updated cabinets, Corian countertops, water filtration system, hidden pantry, and recessed cove ceiling lighting. The natural light in the residence is one of its many charms and a window above the kitchen sink allows you to take in the beauty of Fort Lauderdale, while preparing your meals. The flooring is a convenient mix of Mexican tile in the living areas, real hardwood flooring in the hallways and master bedroom, and the interior includes crown molding, baseboards, Plantation Shutter window treatments, and ceiling fans in every room. Each bathroom has been tastefully updated. The master bath includes a new vanity with extra storage, Tray ceiling trimmed with crown molding, recessed lighting, and a luxurious whirlpool tub. This popular floor plan includes 3 huge walk-in Cedar closets. The entire unit is protected by Hurricane impact glass on all openings.

Berkley South is one of my most active buildings in the Fort Lauderdale beach area and for very good reason. it has an incredible location, nestled in between the Atlantic Ocean and the Intracoastal Waterway, with direct beach access and surrounded by some of the best restaurants, shopping and nightlife in Fort Lauderdale. Recent building updates include balcony, garage and parking lot restoration, new elevators, new lobby, and new clubroom kitchen. The Berkley South is financially stable with excellent management and a very qualified Board of Directors. it is no wonder that buyers and sellers are flocking to this property. Additional amenities include a heated freshwater pool on a vast 40,000 square foot deck, tennis court, fitness facilities, billiards, BBQ, 24 hour security, covered parking under the building, bike and kayak storage and extra storage on each floor for the residents. The monthly maintenance for this particular unit is $723, based on its large square footage, and includes extra reserves, insurance, basic cable, water, sewer, trash removal, pest control and all the amenities. For investors looking to rent out their property, you can rent it immediately after purchase for a minimum of 90 days, twice a year. For more information on this listing and others in Berkley South, contact me today!


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Wednesday, January 23, 2013

My newest listing in The Corinthian is an exceptional property and is completely turn key. This waterfront condominium has been custom designed from floor to ceiling. Residence 6B has two bedrooms and two full baths (1585 square feet), one assigned parking space under the building, with additional guest parking on lobby level, priced at $495,000. This home features an incredible gourmet open kitchen with custom cherry cabinets, granite countertops, and backsplash and top of the line appliances. Entertaining is breathtaking with the dining area facing views of the Intracoastal Waterway and Bonnet Preserve to the east. All living areas feature 18 inch diagonally laid Classic Crema Marphil marble flooring, with crown molding, tray ceilings, and baseboards framing the residence. All baths are remodeled; each bedroom is appointed with Plantation Shutter window treatments. It is truly an idyllic home in the best location, with the best views in the building for viewing the mega yachts cruising up and down the Intracoastal Waterway. The virtual tour may be viewed at http://www.circlepix.com/home/BKQLJ9

While the Corinthian was completed in 1975, it has been renovated to accommodate its’ residents high standards and it is considered the most financially sound building in the area. Located on the stunning Sunrise Intracoastal Waterway, it boasts views of Bonnet Preserve and it is a wonderful place to observe the Annual Winterfest Boat Parade, Air & Sea Show and Fireworks on the 4th of July. Its’ luxury amenities include a stunning newly designed lobby, semi private elevators, heated rooftop pool and Corinthian Club with a full kitchen, perfect for entertaining. A 3 room fitness center at the penthouse level is breathtaking with views of the ocean while you work out and it is a private and secure building with 24 hour security and parking attendants. This residence will likely not remain on the market long, given the lack of inventory, and I encourage you to contact me today for a showing. If you are looking to list in The Corinthian, please contact me for a listing presentation.

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Tuesday, January 08, 2013

Throughout 2012, the national real estate marketplace experienced a recovery, however there are numbers suggesting the Luxury Real Estate Market place has snapped back more than other markets. Spurred by buyer confidence, foreign demand, sustained low mortgage rates, and declines in home inventory, sales for homes priced over $1 million rose by 9% in the first nine months of 2012 compared with the same period in 2011. More striking is the fact that this level is the highest in 4 years, according to DataQuick, a real estate tracking firm that records data across 98 US Metro areas. While many homeowners looking to sell are still holding out for further value increases, to match the height, 6 years ago, the supply of million dollar and above homes is also down by 8%, as reported by Realtor.com. Bank activity has a good deal to do with this, and the number of foreclosed homes in the luxury bracket is down 33% from last year according to Zillow.com, and down over 50% from 2010. What do these numbers mean for luxury buyers and sellers?

Currently, in laymans terms, there are more luxury buyers than sellers on the market, which is causing many buyers to enter into bidding wars in certain regions. Fort Lauderdale is in one of these regions. Condo prices have increased in Broward by 22% and buyers looking for values that were available in 2010, are simply not finding them, because sellers have the upper hand. Broward County has international and domestic demand, most especially visible during the winter months, and in the luxury market, cash rules and the best properties are going to the highest bidder. International investments are prevalent given favorable exchange rates and the popularity and access of South Florida. Nationally, the inventory of luxury homes is at a 12 month supply, as of October, however locally, in Broward many experts estimate it is far less, with some estimates at a 6 month supply. More news will begin to be reported from national and local sources as the final numbers are tabulated from 2012, however we have noticed this year especially that inventory in Fort Lauderdale is scarce and the buyers are stepping up to pay increased prices. For more information on listing your Fort Lauderdale home, contact me today.

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Thursday, January 03, 2013
Happy New Year Fort Lauderdale! As 2013 commences, it is anticipated that the housing market will continue to flourish and as we reported in December, Condo prices in Broward county are up 22%, the inventory in Broward county is low and the demand high, creating the perfect climate for selling your waterfront condominium. The first listing I am featuring in 2013 is another listing in the popular Berkley South Condominium. Berkley South is one of the buildings I specialize in representing and there is much to recommend it. The amenities in Berkley South include, heated freshwater pool on a 40,000 square foot deck, tennis court, fitness facilities, billiards room, BBQ area, bike and kayak storage, 24 hour security, full time management and maintenance staff on premises, underground secure parking, with the ability to rent a second space for $25 per month. The Berkley South Condo is a financially sound condominium, in the highly sought after Bayview School District, allowing you to rent the first year of occupancy, minimum 90 days twice a year and DIRECT BEACH ACCESS.
15B is my first featured updated residence in 2013. Located on the 15th floor, this two bedroom, two bathroom condo offershigh floor Ocean, Intracoastal Waterway, and North City views both day and night. The open kitchen has updated cabinets and brand new appliances. The floors have been updated with 16” inch tiles in the living area and carpet in the bedrooms. This well designed layout features spacious bedrooms with walk in closets. and the guest bath has been updated with a European shower enclosure. Maintenance fees for residence 15B are $644 per month and include reserve funding, insurance, basic cable, water, sewer, basic cable & trash removal. For more information on this residence and others in Berkley South, contact me today. 954-770-8525
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