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Real Estate Advice
Real Estate Advice

 
Friday, May 30, 2014

Many visitors think of the boating and beach life in Fort Lauderdale as the main attraction, however there are a number of cultural attractions that certainly add to the allure of Fort Lauderdale for visitors. Two popular attractions that are worth a short drive are the Bonnet House Museum and the Morikami Japanese Gardens. Each are proximately located to Fort Lauderdale real estate , and if you are visiting or already a resident and have never been, I highly recommend a visit.


The Bonnet House Musuem: The Bonnet House is a historic home, on the National Register of Historic Places and is named after Bonnet Lily. It was built by High Taylor Birch and is a plantation style home and is a historic house museum that contains period furnishings that reflect the original orientation when the home was built. Located amidst lush greenery, it is a wonderful way to spend an afternoon going back in time.

Morikami Japanese Gardens: Morikami center for Japanese arts and culture is located just west of Delray Beach and is a learning center that includes two museum buildings and the Roji-en Japanese Gardens. Included in the gardens are the Garden of the Drops of Dew, a bonsai garden, and a museum gift shop and café. If you are lucky enough, the gardens are the host of traditional festivals celebrated certain times of year. Named after George Morikami who donated the space to be used as a park, it was opened in 1977 and continues to be a tranquil attraction in South Florida.

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Thursday, May 22, 2014

Stunning turnkey residence has just been listed for rent in The Berkley South Condominium. Residence 10J is fully furnished with two bedrooms and two baths available for annual rental only. It is priced competitively at $2,200 per month and is beautifully upgraded. It has been remodeled to include an open kitchen with custom maple cabinetry, granite countertops, GE Profile Stainless steel appliances, and both baths are updated with granite and marble topped vanities. The master bath has a Jacuzzi tub and there are tile floors throughout, plantation shutter window treatments, and new hurricane impact glass balcony door.. It offers south ocean, Intracoastal waterway, and Fort Lauderdale Skyline views.

The Berkley South Condominium offers a prime location in North Fort Lauderdale Beach, just steps from the Atlantic Ocean. The building is constantly being upgraded to include a gorgeous contemporary lobby with 24 hour concierge, balcony concrete restoration, new elevators, upper and lower parking deck restoration, and beautiful clubroom kitchen. The Berkley South offers a full range of amenities to include heated freshwater pool on 40,000 sf deck, 2 separate fitness rooms, sauna, billiards, BBQ and garage parking for all residents. The Berkley South is zoned for the highly rated Bayview Elementary School District, Sunrise Junior High, Ft. Lauderdale High School with many private school options as well. It is within walking distance to many wonderful waterfront restaurants, bars sidewalk cafes, pharmacies, post office, 711, etc., and offers direct beach access on every block. Located close to public transportation and less than twenty minutes to the Fort Lauderdale International Airport. If you would like more information on this property or if you are interested in purchasing investment properties to rent in The Berkley South Condominium, please contact me today!

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Thursday, May 8, 2014

The Fort Lauderdale Luxury Real Estate Marketplace is booming and some interesting, yet largely unsurprising, statistics have been recently released regarding the pace of sales in the area. Sales of lower priced condominiums under $100,000 are down by 19.1% year over year, while sales in the upwards of $1 million category are up 37.5%for the same period. Luxury condominiums are selling rapidly and the demand for them on the market has not slowed. Vacation home buyers may be one element to this sustained demand as vacation home sales are up by 29.7%. Prices are continuing to rise and inventory is slightly increasing, though still below a healthy market. Below are some area luxury condominium sales updates for both preconstruction and existing condominiums.
Resale Sales Update
La Rive – 2 closed sales $1,650,000 - $650,000. NO ACTIVE LISTINGS
1 pending sale at $1,395,000
Le Club – 1 closed sale for $1,075,000. NO ACTIVE LISTINGS
7 pending sales $1,700,000 - $975,000
Las Olas Beach Club – 5 closed sales $2,350,000 - $1,250,000, 1 foreclosure sold for $751,000
1 pending sale $2,199,000
Palms - 4 closed sales $2,850,000 – 1,300,000
3 pending sales $2,495,000, $2,150,000 and 1 foreclosure pending at $751,000
Presale Sales
Aquavita – 22 unit development, 16 pending sales - $2,284,800 - $1,009,635
Aqualuna – 16 unit development, 5 pending sales - $2,001,000 - $1,656,000
Lots of new construction projects - pre-sales are going quickly.

Aquavita – 22 unit development, 16 pending sales - $2,284,800 - $1,009,635

Aqualuna – 16 unit development, 5 pending sales - $2,001,000 - $1,656,000

Adagio on the Bay, Riva, Paramount, The Conrad, and more....

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Friday, May 2, 2014

Zillow recently released a report documented 35 of the largest metro areas nationwide and how long it would take for a homeowner to see payoff in buying a home rather than renting. The tri-county area of Palm Beach, Broward, and Miami Dade showed that you will see the payoff in just 1.2 years and in some areas the break-even point is as little as six months. Traditionally, homeowners would need to stay in their homes for five to seven years before buying beats renting, making this finding even more indicative of the advantage of buying in Broward.

The reason this is so, is that rents have continuously risen while mortgage rates have remained very low, lower than all analysts predicted they would be in the first quarter. Zillow’s chief economist released this remark concerning the findings, “Rents keep rising, and mortgage interest rates remain very low, which is helping to skew the rent vs. buy decision toward buying for those who can afford it. Many renters may ask themselves why renew a lease, when you can break even on the same home in less time in many areas.” With the present market conditions in Broward county of limited inventory and high buyer demand, many find renting to be the obvious option, however they are would not be taking advantage of the presently low mortgage rates. First time homebuyers should not wait to purchase now, and those looking for investment properties greatly benefit from increased rents and low mortgages. If you are looking to buy your first home or would like more information on available waterfront investment properties in Fort Lauderdale, please contact me today!

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Friday, April 25, 2014

Luxury buyers are becoming increasingly investment savvy according to a recent report released by Realtor.com. The most important items overwhelmingly reported by luxury home owners in buying another home were resale value and proximity to water. Of all features of a luxury home the luxury buyer is chiefly interested in the view of the home, a chef’s kitchen, and a luxury pool. Notably, 40% of luxury buyers are willing to go over budget for their perfect home. In the Fort Lauderdale luxury market I notice these trends specifically since Fort Lauderdale luxury condominiums have views, offer open kitchens, and have incredible amenities. Many of my buyers are interested in the financial stability of a building as well, considering the rental market in Fort Lauderdale is booming and buyers are looking for investment properties. Below are the findings from Realtor.com and if you are interested in purchasing a luxury Fort Lauderdale condominium or selling a condominium, contact me today.

· 30% Current Luxury homeowners that would purchase a primary home

· 23% Current luxury homeowners who would purchase a vacation home

· 40% Current luxury homeowners who would go over budget

· 73% Current luxury homeowners feel resale value is important

· Most Desired location of Current Luxury Homeowners: waterfro

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Friday, April 18, 2014

Sellers often make the mistake of undergoing renovations in hopes that it will increase the value of their home before selling. Common renovations include new roofs, new kitchens, and new baths. Here is the fallacy in this reasoning and it is two fold. Firstly, a prospective buyer may not share your taste in finishes, even if you feel they are neutral, and secondly, the value of your home on the market will not increase proportionately to the amount spent on the renovations. The buyers will expect a discount if the renovations do not meet their expectations.

There are however some small upgrades that do make the grade. Below are several low cost tips that will give your home a competitive edge in the market.
1. Remove Popcorn From Ceiling: A smooth ceiling makes rooms appear larger and also is a quick update for an apartment or home.
2. Remove Mirrored Walls: While Feng Shui dictates that mirrors open a space, they are dated and are distracting to buyers.
3. Replacing Carpets: Replacing dirty carpets with inexpensive carpet is an excellent and inexpensive upgrade.
4. Fresh Paint: Once mirrored walls are removed, popcorn is paved over, a fresh coat of paint is always recommended, in a neutral color.

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