Berkley South has a flurry of activity to report this week. There are three pending sales, 16F, 19H, and 5i,  and 2 new listings, 5F & 5i. 16F was on the market only 4 days  before going under contract, 5i was just listed April 1 and under contract in 4 days. There are only 5 available properties for sale in Berkley South. Berkley South has also witnessed a price increase in listed properties. In 2011, there were 11 closed sales, sold for the prices between $270,000-$170,000, whereas in 2012 thus far, there have been 5 closed sales between $301,000-$183,000.  There are a number of factors experts have ascribed to the increases in prices in waterfront or near waterfront properties in Broward County, one of which is a reduction in inventory and an incredible increase in pending sales, up 53% from last year in February, according to the Miami Association of Realtors.

Berkley South is not only a fiscally responsible and reliable building in Broward County, but it has also undergone extensive renovations, increasing its value in today’s waterfront condominium market. Garage and parking lot renovations, new balconies, and brand new elevators and clubroom kitchen, in addition to an incredible new lobby, have increased the values of the properties within it.  The amenities available also include a heated freshwater pool on a 40,000 square foot deck, tennis court, fitness facilities, billiards, BBQ area, extra storage, 24 hour security, and building staff on premises.

Of the properties available at Berkley South, there is only one that is a northeast facing corner unit with 2 bedrooms and 2 bathrooms and over 1,300 square feet. 5F, one of my newest listings offers high end designer finishes for the discerning buyer. The renovations in this residence are unlike any other available in the Berkley South Condominium. The kitchen is impeccably remodeled with an artistic mosaic backsplash of sea imitating blues surrounding the GE Profile stainless steel appliances, and framing the modern bamboo wood custom cabinetry. Multi-colored LED lights illuminate this kitchen and your culinary creations. With 24 inch marble floors, smooth ceilings, enormous closets, and completely updated electrical lighting and new hot water heater, accentuated by a stunning walnut bar with imported lapis marble, no detail has gone unnoticed in this residence. The guest bath has a white Calcutta custom seamless walk in shower, Grohe hardware, mahogany granite topped vanity, and lighting, and the master bath has been upgraded with a marble integrated tub and shower, in addition to granite and maple vanity. This is truly an extraordinary opportunity to own in an updated beach area building with resort style amenities. Contact me for more details on this listings and others in the Fort Lauderdale Waterfront Real Estate Marketplace!

Inside Look Video! http://youtube.circlepix.com/listingvideo/6GSP5

I am pleased to announce my newest listing in The Corinthian Condominium in Beautiful Fort Lauderdale. Residence 3D is completely renovated and contains 2 bedrooms and 2 bathrooms within 1450 square feet.  Among the incredible kitchen upgrades made in residence 3D are an open kitchen with red birch and ripple glass custom cabinets, blue pearl granite counters with matching dining bar, metallic tile backsplash, Kitchen Aid stainless steel appliances, and Fisher Playkel SS dishwasher.  This updated waterfront residence has bamboo wood floors in the living area, smooth ceilings, hurricane impact glass and shutters, with floor to ceiling windows facing east and south down the Intracoastal Waterway. The ensuite master bath upgrades include custom maple cabinetry, Cambria counters, porcelain tile, and a redesigned tumbled marble walk in shower with seamless glass shower enclosure. Guest bath was updated with a white birch vanity and black onyx granite countertop. Each bedroom features plantation shutters. This residence offers incredible yacht level views up and down the Intracoastal Waterway, is impeccable and in pristine move in condition. This unit boasts a highly coveted oversized covered single space on the upper lobby level. This is the only  2 bedroom residence for sale in the Corinthian at present, and will not last.  This wonderful Sunrise Intracoastal location is in the Bayview Elementary and Sunrise Middle School district.

The Corinthian on the Intracoastal is a luxury gated 24 story building directly on the Intracoastal Waterway in Ft Lauderdale. There are 152 spacious two bedroom, two bath units in the building with east/west exposure, plus three elegant penthouse residences on the 23rd floor.  Amenities include 24 hour security and parking attendants, covered assigned parking, semi-private elevators, and a 3 room Fitness Center on the 23rd floor. The newly renovated rooftop has a wonderful heated, fresh water pool, and nicely appointed clubhouse, with kitchen facilities for entertaining.  I reported last week on the current shrinking market in The Corinthian and later in the week, The Miami Association of Realtors, announced what I predicted regarding the Broward real estate marketplace; that pending home sales for February were up a whopping 53%!  According to the Miami Association of Realtors, 3,902 single family homes and condominiums were pending last month, up 2,555 from February of 2011. This is one of the key indicators for the future of the market in Fort Lauderdale and I would encourage both buyers and sellers to take advantage of the prices you can get now. Low inventory is advantageous to sellers because they can factor in “availability” when determining an appropriate listing price. Buyers need to act quickly to capitalize on the remaining good values. For more information on waterfront homes and condominiums in Fort Lauderdale, please contact me directly!
 

Residence 9D recently sold for $300,000 in The Corinthian, and currently, there are 7 pending sales.  I am proud to introduce the latest listing, a totally renovated NEW 2 bedroom listing priced at $410,000. Among some other condominium closing news, Unit 19D will close on March 30, 6G will close on April 6, and 7A will close on April 10. This is an exciting time in the Fort Lauderdale real estate marketplace. The lack of inventory and positive media reports have contributed to an uptick in the market and buyers are increasingly having difficulty getting low priced properties. According to the most recent reports, pending sales are up 30% in Broward County and this trend does not seem to be showing signs of slowing, especially in The Corinthian. Low offers are not being accepted and well-priced properties are experiencing multiple offers, and often result in a bidding war in which the highest offer wins.  Further recommending The Corinthian, is its long standing reputation as one of the most financially stable and well maintained buildings in Fort Lauderdale.  If there were a time to sell in The Corinthian, it would be now.

The Corinthian is perfectly placed just south of Sunrise Boulevard and across from the shopping mecca, Galleria, minutes from the beach, with the conveniences of Publix, Starbucks, and all of Fort Lauderdale’s bars and restaurants seconds away. It is situated directly on the Sunrise Intracoastal Waterway, offering views of the Intracoastal, Bonnet Preserve, and the Atlantic Ocean. There are 3 elegant penthouses on the 23rd floor and 152 spacious two bedroom and two bathroom units. Many residences have been updated with open kitchens, top of the line stainless steel appliances, and granite countertops.  All residences at The Corinthian feature large private terraces, floor to ceiling glass windows facing east, private concealed trash shoots in the kitchens, washer and dryers, and hurricane protection. 

The amenities at The Corinthian create a truly resort style living experience. On the penthouse level there are 3 rooms of cardio and Cybex weight equipment overlooking the Atlantic Ocean, perfect for those health conscious residents. The rooftop has been completely renovated including a heated fresh water pool and nicely appointed clubhouse. The Corinthian Clubhouse has full kitchen facilities perfect for a night of entertaining or watching some of Fort Lauderdale’s best events such as the Annual Winter Boat Show or the incredible fireworks on the Fourth of July.  Coming and going is incredibly easy and secure with 24 hour security, 24 hour parking attendants, covered assigned parking, and a large open air guest parking above ground.  With direct access to the Fort Lauderdale Airport, The Corinthian is also ideal for those looking to purchase a vacation residence, but you must act fast, The Corinthian is selling out. If you are looking to sell your unit or are interested in learning more about what your residence at The Corinthian is worth in today’s market, please contact me directly!
 

It is with great pleasure that I report that sales are up and the inventory in Fort Lauderdale is shrinking. As I reported previously, pending sales are on the up tick and, within my business, my listings are going under contract often in under 20 days. Given the gains in the job market, record low mortgage rates, and buyer tax incentives, I quite literally cannot keep listings on the market. This week, I would like to share the market report for the incredible building Le Club International.

Le Club International is one of the premier condominiums in Fort Lauderdale esteemed for its exclusivity, boating facilities, Atlantic and Intracoastal views, and unbelievable location. The beaches, oceanfront dining, and world class shopping are all in close proximity to Le Club International. Amenities at Le Club are among the best in Fort Lauderdale, incredible lush landscaping, grand lobby with cascading waterfalls and exotic marble flooring, 24 concierge and security, dual resident parking spaces, boat slips, housing yachts up to 150 feet long, and exclusive owner activated private elevator leading to a double door entrance to a formal foyer. The fourth floor at Le Club features an expansive waterfront pool deck with three separate Sun Plazas, an oversized lap pool, elevated whirlpool spa, gazebo and has trellised seating area, fully appointed private poolside cabanas, state of the art exercise room with separate men’s and women’s facilities, plush party room (The Blue Room) overlooking the Intracoastal Waterway and private marina, featuring full kitchen and catering bar. This architectural masterpiece has 64 residential units and 6 different floorplans to choose from. Residence features include, floor to ceiling glass windows, open European Snaidero Kitchen with Kitchen Aid “Architect Series” stainless steel appliances, his and her bathroom suites with Jacuzzi tubs, marble vanities, and seamless glass walk in showers. These residences truly are sky homes that accommodate the most discriminating tastes.

Currently, Le Club International has 10 listings available on the market with 3 pending sales in the last 2 weeks, one of which is a private sale not listed on the MLS. The starting price point is $695,000 and goes upwards of $1.8 million. The current average price per square foot is $454 and the average list price is $1,173,800. The higher priced listings often include boat slips, so be sure to inquire whether the listing contains a boat slip. There were 7 closed sales in 2011 ranging in price from $650,000 to $909,000, which shows that the prices in Le Club are increasing due to the recovering real estate market and the shrinking inventory in the building. It is a wonderful time to list at Le Club given the real estate climate in Fort Lauderdale, as well as in this building. If you are thinking of selling or are interested in purchasing, please contact me directly!

The National Association of Realtors has announced that pending home sales have risen by 8% in January from January of 2011.  A pending sale is defined as a home under contract for sale. Pending home sales figures are a direct indicator of future closings and are also an excellent sign for the real estate recovery. The Southern region in particular witnessed an increase of 10.5%, the second highest increase in the US. Many buyers are taking advantage of the legislation making home buying more affordable and it is a wonderful time to invest.

In the past, the movement of these figures have been uneven due to credit immobility however there have been gains in jobs and increased affordability, which have made it easier for home buyers to purchase. Further, rents have increased and the inventory has declined, showing signs of a sustained real estate recovery. A recovery will mean less homeowners in distress and median home price increases. This is wonderful news for home sellers, and buyers should take advantage of this time to buy, because prices will only increase from here! For more information please contact me directly. realtor@joannedwards.com
 

Many homebuyers dream of owning waterfront property. Whether a condominium on the Intracoastal/Atlantic Ocean, or one of many waterfront homes, Fort Lauderdale has endless waterfront options for the waterfront buyer.  It is important that you know some of the intricacies of waterfront home ownership, in terms of rights, docking, and Sea Walls. Below are some important questions to ask before you buy.

Know your Rights: Make sure you check if your property contains an easement for access to the general public, or if the land is privately held upon your purchase. This relates largely to single family homes, however in a waterfront condominium you should inquire to what the association allows and the types of fees for maintaining the waterfront.

Docking: If your home does not have a boatslip or dock, check to see if there is any red tape if you chose to build one in the future. Ask your realtor if there are fixed bridges as well, since many yachts will not be able to pass beneath the bridges.  Many condominiums in Fort Lauderdale have boat slips, check to see if you have access to one with your purchase or if there are slips available for purchase.

Flood Zones: Since you will be on the water, there are certain risks you assume with flooding. It is a good idea to take out flood insurance, especially in Florida with the potential for hurricanes. You can go to the FEMA website to see what classification your homes falls under. In order to get flood insurance you will need to obtain a certificate of elevation.

Seawalls: During your inspection, make sure that the sea walls are in tact, if there is one. Maintenance and repairs can be costly and it is an essential part of your home.