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Real Estate Advice
Real Estate Advice

Friday, January 27, 2012

Among the stunning homes lining the Fort Lauderdale Intracoastal, one in particular is an excellent value and a stunning property, 3070 NE 40th Court. Listed at $3.4 million, this six bedroom, six bathroom home occupies a beautiful lot on the corner of a cul de sac facing the southeast Intracoastal. This home is 5,569 square feet and has every imaginable amenity. Wide panoramic views are visible from nearly every room in the home and the latest upgrades have been applied including double pained windows, controlled wine closets, marble floors, recessed lighting, heated pool and spa, private library, master his and hers spas and suite, and an incredible great room to take in these views.
Located in Coral Ridge Country Club, an owner could appreciate the award winning golf facilities and boating opportunities this beautiful neighborhood offers. Further, it is conveniently located between the major roadways of Sunrise Boulevard and Commercial Boulevard. On Sunrise Boulevard there are amazing luxury retail boutiques at The Galleria Mall, and dining is first class on Las Olas Boulevard. The Fort Lauderdale Airport is just 15 minutes away from Coral Ridge and the Atlantic Ocean is mere minutes by boat and a short drive by car. Given this home’s location, and the amount of water frontage it occupies, it is an excellent value in a stable neighborhood for real estate. For more information on this property and others in the area, please feel free to contact me!

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Friday, January 20, 2012
Located in the desirable Sunrise Intracoastal area directly on the Intracoastal Waterway, just two blocks from the Atlantic Ocean, Le Club International is one of the premier luxury condominiums in Fort Lauderdale. Residents enjoy the private marina, fitness facilities, and private poolside cabanas at this exclusive property. Le Club truly offers resort living year round. Within 15 stories are 66 residences of 2 and 3 bedrooms with up to 4 baths. The generous floor plans are between 2140 and 2740 square feet of living space. Each residence has an owner operated elevator and 24 hour security insures your property’s safety and your privacy. It is unusual in South Florida to find smaller boutique style condominiums, which has made Le Club an enduring and desirable property.
In 2011, seven units closed in Le Club between $333 and $247 per square foot; those sold within the last six months averaging $332 per sq ft. Currently, there are nine units available for purchase for between $657 and $284 per square foot, with list prices ranging from $1.8 million (includes 60' boat dock) to $695,000. A number of factors come into play in the evaluation of Le Club’s residences. Units with south exposure are considered more desirable and sell at higher prices due to their unobstructed views over the protected Bonnet Preserve and lingering views down the Intracoastal Wasterway.
Currently, the best value in the building based on price per square foot, highly desirable south exposure, and the largest floorplan in the building, is unit 602. Listed at $849,000 with 2740 square feet of living space, this three bedroom three and a half bath residence leaves nothing to be desired in terms of amenities and high quality finishes. Further, the price per square foot is only $310 which is competitively priced for it's valuable location and floor plan. It is significantly less expensive than other residences in the 02 line. Enjoy an inside look into Residence 602 with our virtual tour and Youtube video.
For more information on Le Club International and to schedule a private showing, please feel call (954) 770-8525.
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Tuesday, January 10, 2012

When pricing your property, there are many expert opinions and information online that can be misleading for a seller. So many statistics and evaluations are out there, and it can be confusing to take in. However, with good guidance from your realtor, and the right market price, you will experience a smooth sale and get the correct value for your home. Some of the factors that a realtor will consider when pricing your home are: the type of buyers purchasing in South Florida, similar properties that have sold, and the current National and Fort Lauderdale real estate climates.

The National Real Estate Conditions

Mortgage rates are at record lows and prices are down by 30%, making housing very affordable. Buyers however may be swayed by the hope that the market will continue to decrease. Barclay’s Capital estimates that roughly 3.4 million dollars I see pictures worth of loans are being foreclosed on and banks now own roughly 440,000 homes. This amount of foreclosures can be a detriment when pricing your home because buyers may be swayed by the foreclosure prices. Further, lenders are increasingly stringent on offering loans requiring more documentation of the borrower’s income and appraisals are often coming in lower due to the aforementioned foreclosures. This can be frustrating for the seller, since the value of their home is often subject to their neighbor’s delinquency. There is good news though, rental prices are increasing which increases the likelihood of people to buy.

Fort Lauderdale Real Estate Conditions

Fort Lauderdale is fortunate to occupy one of the most desirable markets in the State of Florida. Since Florida is blessed with a warm climate and Fort Lauderdale has first class leisure activities, it is desirable for both families and those out of state individuals buying a second home. Another consideration is the inventory in Fort Lauderdale has been shrinking, thus stabilizing home prices. Recently, Realtor.com has ranked Fort Lauderdale as #5 for market turnaround in the third quarter of 2011 and international buyers in South Florida have consistently purchased property in Fort Lauderdale, given its natural beauty and city charms.

Pricing Your Home and The Importance of A Comparative Market Analysis

Using the National and Fort Lauderdale Market conditions as a guide, first, make sure it is the right time for you and your family to sell. Once you have arrived at your decision to sell, it is imperative to obtain a reputable realtor to create a comparative market analysis (CMA). The comparative market analysis is a snapshot in time of the value of your home based on the home sales surrounding you or in your building. Your value can change depending on the sales in your area, and your realtor will be able to advise you the best price for your home to be competitive on the market.
The most important component of the CMA is measuring the price per square foot of your home against other sold properties and active properties on the market. Available inventory of your type of property is also extremely important. For instance, if you have the only Southeast facing corner unit on the market, you have a clear advantage over other properties and vice versa. Another facet of a CMA is calculating the value of certain amenities your home has compared to others on the market. While it is not recommended to make substantial improvements to your home to increase the listing price, there are certain items your home may have that are more desirable in the market, and your realtor will know which! Further, your realtor may suggest certain incentives that can entice a buyer, such as closing escrow quickly for a fast move in. Your selling process should be as painless as possible, and arriving at the right price to list your home is one of the most important factors in a sale. All in all, it is very important to be informed regarding the national market conditions, however when in doubt, always consult a realtor to explain the current market in your community.
For more helpful seller tips, Please refer to my resource section! http://www.joannedwards.com/

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