Real Estate News, Real Estate Advice

Thursday, June 28, 2012

The summer has officially begun and while many will be summering in the mountains to escape the heat, there are still a number of exciting events in Fort Lauderdale to keep you entertained this summer. In addition to some of the events listed below, many country clubs have reduced rates during the summer for potential year round members. These private clubs offer activities, such as camps for children and golf and tennis clinics for adults. Coral Ridge Country Club is one of the best in the area and for more information on this club, please take a look at my recent blog entry, http://www.joannedwards.com/blog/2012/06/Coral-Ridge-Country-Club.htm . The activities below are events that are out of the sun and heat. From wine tastings to cooking seminars, to exploration of the cultures of Broward County, there are many ways to enjoy Fort Lauderdale this week!

Leonore Nolan- Ryan Cooking School and Catering Company

June 27

Summer Sliders, Demonstration and Lessons, 12 pm, $30, rsvp to 954-491-2340

Taste of India, Demonstration and Lessons, 6pm, $50, rsvp to 954-491-2340

June 29

Date Night Couples Cooking, Demonstration and Lessons, 6pm, $50, 954-491-2340

Museum of Art of Fort Lauderdale Presents, “Alternative Grapes: Take a Walk on the Wild Side with Wines made from Obscure Grape Varieties!”

June 28, 2012

6pm

$35, rsvp to gvilone@moafl.org

Broward Attractions and Museum Month (BAMM)

Ongoing

This is a month long passport in celebration of reciprocal memberships between groups of cultural organizations who have come together to increase awareness and support of the historical and cultural treasures of Broward County. Members of any of the following organizations receive free admission to the participating museums and cultural organizations. For membership contact, membership@semtribe.com

Art and Culture Center of Hollywood

Fort Lauderdale History Center

Bonnet House Museum and Gardens

Old Dillard Museum

Cinema Paradiso

Plantation Historical Museum

Seminole Museum

Historic Stranahan House Museum

Old Davie School Historical Museum

International Fishing Hall of Fame

International Swimming Hall of Fame

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The Importance of Internet Marketing in Selling Your Fort Lauderdale Residence

Thursday, June 21, 2012

Internet Marketing for your property is one of the integral parts of selling your home. The combination of SEO, Social Media, and Content Marketing (or blogging) is ideal for promoting your home virtually. The relationship of these components can be confusing for many homeowners, and today I would like to shed some light on how these work together to gain exposure. Try looking at this relationship within the traditional real estate marketing framework of “farming .” Farming is a term most closely related to networking. In traditional real estate marketing, farming techniques include getting brochures out to your neighbors and hosting open houses in the neighborhood to let those close to you know your home is for sale. When you are using Internet marketing, the getting to know your neighbors and interacting on a community level becomes a bit more daunting. When your Realtor launches their Internet Marketing Campaign for your property, it is like introducing your property to a new community, only this community is called the Internet.

In order to farm the Internet community, your Realtor will first, make your property visible on the web by implementing a custom website, followed by targeted property marketing to announce its presence using Search Engine Optimization, and interacting with other members of the community using Social Media. Further, by providing these entities something valuable to keep them interacting, your Realtor will create special content using a blog. In other words, Search Engine Optimization connects potential buyers to your site by making your website detectable to search engines, Social Media gives buyers, brokers, peers, and the Internet community a chance to interact with your listing, and the content connects buyers personally by providing information that they need or find interesting.

These techniques when used alone are effective for their specific purpose, however when used in concert, the web traffic or community interaction becomes amplified. One distinct advantage of using Internet Marketing Campaigns for your property is that they are measurable. As a Showcase member and Featured Agent on Realtor.com, I provide an Enhanced Listing Presentation and Featured Homes as tools for each of my seller’s property listings, and can quantify the leads as frequently as I need, to assess how the campaign is running and can do this across the board with other areas of this system. Unlike mailed fliers that have an approximate rate on return of maybe 3-5%, the increases in traffic to a property website, interaction with social media posts, and visits to a blog, are available to the minute and location of the browser. Using this data, your Realtor is able to identify trends, and generate content and posts that target the buyer and broker leads that you are trying to capture. These campaigns have become an industry standard and are essential to the sale of your property. If you are looking to sell your Fort Lauderdale Property and would like to discuss my marketing program, both Internet and on the ground, contact me today!

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Builder Confidence Increases, Will this mean more New Development in Fort Lauderdale?

Wednesday, June 20, 2012

The National Association of Home Builders has recently announced that the Wells Fargo Builder Sentiment Index has risen in June to 29, increasing from 28 in May. The Builder Sentiment Index has not been this high since April 2007. During the estimated boom, the Builder Sentiment Index was at 50, which has not been reached since April 2006. Builders reported sales levels this June rivaling April 2007, according to a different measure of the survey. The health of the builders market is an excellent early indicator of the real estate market recovery since they assess the lack of inventory and sales data from a particular area before developing it.

While new homes only make up an estimated 20% of real estate sales, it does provide insight into the future of the market. In April, both previously owned homes and new homes rose to over 2 year highs, a fact that many attribute to the current affordability of home owning. In addition, according to Home Builder data, each new home built creates approximately 3 new jobs and $90,000 in tax revenue. When you multiply this by a development, or increase it to the proportions of a new condominium building, this is makes an even larger impact on both the local and the national economy.

At this moment in time, the rate of joblessness is lower, mortgage rates are hovering under 4% for 30 year fixed rate borrowing, and the first time home buyer tax incentives are spurring many to buy, especially since prices are still approximately 30% less than they were at the boom. In Fort Lauderdale, the available inventory is at a 6 month supply, and in particular, the waterfront condominium market is particularly limited. This makes the climate ripe for builders to consider Fort Lauderdale for development. Already in 2010, the esteemed W Hotel and Residences developed on the coast of Fort Lauderdale, and it would not be surprising if more builders followed this trend. The current sales outlook for the next six months for new homes has not yet been impacted dramatically by this index, however for the real estate market, as well as for the economy in general, this is excellent news. For more information on the latest developments in Fort Lauderdale, contact me today.

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Another Closed Sale at The Corinthian

Friday, June 15, 2012

It is with great pleasure that I am announcing my latest closed sale in The Corinthian. Residence 12G just closed with a final selling price of $376,403. This residence was a foreclosure acquired by Fannie Mae in January at a very low price of $249,000. It was relisted in April for $434,900, a price that was too high based on comparable sales in the building, resulting in little interest and no offers. Based on my experience and knowledge of the values in the building, I would have recommended an initial listing price of $399,000 to be competitive in the waterfront Fort Lauderdale market place. Fortunately for my buyers, the initial high listing price discouraged many prospective buyers from viewing the property, allowing my buyers to acquire this property at a great price without any competition. Residence 12G is the largest interior unit in the building, with 1500 square feet of living area and an updated kitchen, not to mention the spectacular ocean, city & Intracoastal Waterway views day and night. The final price per square foot sold was $251; the total price reduction I achieved for my buyers was $58,497. Currently, The Corinthian has only one active listing, the double unit 11AB (4 bedrooms) priced at $995,000. There has been 10 closed sales in The Corinthian this year, and I am pleased to have represented most of the sellers in these transactions. The inventory is understandably low in this highly desirable building and if you or someone you know is looking to sell their residence, now would be an excellent time to list. The Corinthian is a gated luxury building situated directly on the Sunrise Intracoastal waterway in Fort Lauderdale. It is considered one of the most financially sound and best managed condominiums in Fort Lauderdale. All 155 residences enjoy large private terraces, floor to ceiling windows/sliding doors facing east, washer/dryer in every unit, marble baths, and hurricane protection. Luxury amenities include semi-private elevator foyers, heated freshwater rooftop pool, Rooftop Corinthian Club with fully equipped kitchen for entertaining, a 3 room fitness center with panoramic views up and down the Ocean and Intracoastal Waterway, covered assigned parking under building, guest parking on a large upper deck, and 24 hour security and parking attendants. For more information on acquiring a residence in The Corinthian, or for information on my listing program, please contact me, I would be pleased to represent you in either capacity.

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Coral Ridge Country Club

Wednesday, June 06, 2012

Fort Lauderdale is home to some of the most beautiful beaches and parks in the State of Florida. The warm climate and moisture produce incredible tropical flora and fauna year round and also allow for world reknowned golf courses. Some of the finest golf courses in Florida are found in Fort Lauderdale and this week, I would like to offer information on one of the most elite golf and country clubs in Fort Lauderdale, Coral Ridge Country Club. It is situated within the Coral Ridge neighborhood, which is minutes from the beaches and condos of Galt Ocean Mile, and also is in the heart of Fort Lauderdale. The club considers itself the “next generation”in country clubs offering all the modern conveniences, while still maintaining the time honored traditions in country clubs.

Coral Ridge Country Club has amenities that rival all clubs in South Florida and was founded in 1955 by Robert Trent Jones Sr. The golf course was designed by founder Robert Trent Jones Sr. and is 18 holes with the classic design. The tennis club, which was added in 1960, has 11 courts, two of which are all weather, 9 clay, and 3 hydrocourts. Also on club grounds is a junior Olympic swimming pool that is 25 yards long with 6 swim lanes, six starting blocks, and a shallow end for children. The swimming pool was Mrs. Jones initiative, since she was a swimmer in college. There are two restaurants in the club, one for casual dining, and the other a formal dining facility. They offer a variety of events for adultsand children including Summer Camps, instructional programs, and a truly unique happy hour every Friday night called Martini Madness, which even includes babysitting. Since the club's founding by the Jones family, it has maintained a reputation as a home away from home for members, and it remains one of the foremost clubs in Fort Lauderdale. The homes surrounding the Coral Ridge Country Club are some of the most luxurious in the city, many with waterfront views. For more information on properties around theCoral Ridge country club, please contact me!

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Exploring the Neighborhood: Galt Ocean Mile

Friday, June 01, 2012

Galt Ocean Mile is a highly desirable beachfront community in Fort Lauderdale founded by James Hunt and Stephen Calder in 1938 with the purchase of a large tract of land from Arthur Galt of Chicago. The real estate on Galt Ocean Mile is comprised of 20 high-rise condominiums situated directly on the sand beginning at the northern most end with CARIBE (a co-op) in Lauderdale by the Sea all the way down the beach to L'HERMITAGE (the newest luxury condominium).

The Galt Ocean Mile condominiums are elite and offer resort style living right on the beach, with luxury amenities including pools, fitness facilities, recreational facilities, valet parking, and much more. This is one of the most convenient and beautiful communities in Fort Lauderdale.

The neighborhood has much to recommend it with gourmet dining close by, public and private natural activities, and access to premier shopping at Galt Mile Shoppes. This neighborhood has a high walkability score, an increasingly desirable option in real estate, with pharmacies, bakeries, sidewalk cafes, wine bars, and eateries at your doorstep. A number of dining options can be found in the Galt Ocean Mile neighborhood among the favorites being Greek Islands Taverna, Café Matorano (considered one of Fort Lauderdale’s finest Italian dining establishments), the popular Pane Dolce bakery, and the new Thasos Island restaurant, projected to be a major source of competition for Greek Island Taverna ( which always has a packed house with long waiting lines).

Galt Ocean Mile has its own community center for the convenience of residents and an association outside of the individual condominium associations. Directly east is Coral Ridge Country Club, with an award winning golf facility, full tennis club, and casual and gourmet dining, and to the South is the Hugh Taylor Park with natural activities such as kayaking and bike trails. The Fort Lauderdale International Airport is a short drive away and the largest commercial streets, linking A1A and the beachside to the mainland are Commercial Boulevard and Oakland Park Boulevard. For more information on the status of each individual building, in terms of rental policies, pet policies, and building fiscal status, contact me today. Below is a list of condominiums with residences for sale!

CARIBE (co-op): 4050 N. Ocean Blvd. Lauderdale by the Sea, a coop,17 floors, 150 units

FOUNTAINHEAD (55+ building): 3900 N. Ocean Blvd. Lauderdale by the Sea, 17 floors, 128 units

PLAZA EAST: 4300 N. Ocean Blvd. Fort Lauderdale, 21 floors, 266 units

PLAZA SOUTH: 4280 Galt Ocean Dr. Fort Lauderdale, 26 stories, 366 units

L'AMBIANCE: 4240 Galt Ocean Dr. Fort Lauderdale, 25 floors, 124 units

THE GALLEON: 4100 Galt Ocean Dr. Fort Lauderdale, 17 floors, 214 units

OCEAN CLUB: 4020 Galt Ocean Dr. Fort Lauderdale, 19 floors, 207 units

OCEAN SUMMIT: 4010 Galt Ocean Dr. Fort Lauderdale, 17 floors, 228 units

PLAYA DEL MAR: 3900 Galt Ocean Dr. Fort Lauderdale, 29 floors, 370 units

REGENCY TOWER: 3850 Galt Ocean Dr. Fort Lauderdale, 20 floors, 203 units

GALT OCEAN CLUB: 3800 Galt Ocean Dr. Fort Lauderdale, 17 floors, 216 units

THE REGENCY SOUTH: 3750 Galt Ocean Dr. Fort Lauderdale, 20 floors, 203 units