July 2010

Found 9 blog entries for July 2010.

When you look to purchase a Fort Lauderdale Condominium or any Fort Lauderdale Home for Sale, it is natural to attempt to compare every aspect of the property you are considering, with the same checklist of attributes of every other property you see. One aspect I find that is often overlooked is the advantage of buying newer.

When it comes to a condominium you can change the interior of your personal unit but the common elements are up to the building's board of directors. Sometime things like ceiling height are just impossible to change.  When looking at a single family home, simply building codes have gotten tighter since Hurricane Andrew and it is very expensive to bring an older home up to, today building codes.

Many newer properties are built to

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Every Fort Lauderale Real Estate blog has a posting, as of late, about a new law that went in to effect on July 1st, 2010, called the Florida Condominium Relief Act. 

I am going to be very brief about what the act does and then tell you a story about how common sense has won out.

The law allows for condominium associations, where a unit is rented but the landlord is not paying the monthly maintenance payments to require the tenant to pay the rent monies to the condominium until the landlord is up-to date. Common sense has won out.

It is has been shocking to watch Fort Lauderdale Condominiums  pay for the maintenance of beautiful amenities while the people using them were renting from landlords not paying their bills. This new law is changing this

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On 7/20/2010 the closing of 2898 NE 25th Court, Fort Lauderdale, Fl 33305 was reported for over $4,000,000. This spectacular home was just completed and is has over 6750 sq. feet of living space. The home is 5 bedrooms and 5 baths with two half baths. Even in today's Fort Lauderdale Real Estate market this sale is proof that quality real estate always sells. The point lot represents 169 feet of prime Fort Lauderale Waterfront. It is a southeast point in Coral Ridge, one of Fort Lauderdale's finest waterfront neighborhoods. The home is surrounded by views of the intracoastal, and features high ceilings throughout. A beautiful waterfront pool and spa are surrounded by tropical landscaping. This house also features a full house generator. At just over $600 a

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Short Sales are working for Many Sellers !

The numbers prove it, in Ft. Lauderale Real Estate, Short Sales are working !

During the last six months there were 14,150 real estate transactions of single family home, condos and townhomes in Broward County. Of these Fort Lauderdale Real Estate area transactions 4700 (33.2%) were REO transactions. REO tranactions (Real Estate Owned) mean these are actual foreclosed properties owned by the lending institution. Short Sales represented 2745 transactions or 19.4% of the Fort Lauderdale Area Real Estate market. An important number to note, as most of our conversations tend to ignore this, it that 47.4% of the market were simply good old fashion equity transactions.

In the last month these numbers shifted, and it

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Over the last six months the foreclosure rate in Broward County has dropped by 10% according to this cover story of in the Sun Sentinel on Sunday, July 18th 2010. Even more informative about the foreclosure situation in the Fort Lauderdale Real Estate market is a map they published on the front page showing all the zip codes in Broward County and how many foreclosure's can be found in each of the areas. The map was provided by Realty Trac.

Each one of the coastal areas from South of Fort Lauderdale Airport, North to Oakland Park were included in the lowest category they mentioned which was "less than 500".  The category included 6 zip codes which included most of the Fort Lauderdale area coast. The zip code which is just North 33308, was listed in the

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Short Sale Success !

Villas of Harbor Isles Condominium, Dania Beach, Florida

 

Eric Miller and Associates of Keller Williams Realty Professioanls Fort Lauderdale is please to announce that they have closed and completed a short sale at Villas of Harbor Isles Condo. This short sale did involve the negotation of mortgages with two banks. The condominium association was paid completely, and the entire deal was a win-win for the seller, the buyer, the bank, and the community. The condominium which sold for $325,000 in 2005, sold as a short sale for $149,901. Short Sales like this are truely helping to stablize the Fort Lauderdale Real Estate market, as they serve to avoid the lenghty process of foreclosurer.

Eric Miller and Associates are here to help

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Federal Flood Insurance Update

As of Friday the House of Representative voted to overhaul the federal program which provides flood insurance to many owners of Fort Lauderdale Real Estate.  Over the last few weeks many buyers of area properties were unable to get flood insurance through the federal program and were limited to other often more expensive sources. The change in the program could result in higher premiums for high risk areas that have flooded before. The senate still needs to address the changes and even though buyers will be able to obtain insurance through the program shortly, once again the solution is temporary and will need to be funded again by the federal government.

Thinking about Ft. Lauderdale Real Estate, have a question ? We are

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The anatomy for a Fort Lauderdale Foreclosure.

Its Sunday Morning June 27th, the weather in Ft. Lauderdale is warm and all is calm in the Fort Lauderdale Real Estate Market. As ususal I am on my computer very early trying to be just a little bit a head of my competitors as I investigate the activities of the night before. Was it all quiet in the Ft. Lauderale Condo market, or did something happen that needed my immediate attention. To be on top of this ever changing market you need to have your game face on every day.

And there it was, MLS listing F1080316 . listed by a Florida Real Estate office. The newest listing on the Fort Lauderale MLS.  I had never heard of the company with the lisitng, and their web site took me  to a Chicago Real Estate office

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As I continue to expand and provide the finest and most complete information for my customers and visitors, I am pleased to announce a new section of the website: Fort Lauderdale Real Estate Articles

To start this new section off, I've just posted a new article for your convenience:

Swimming the English Channel for a client and the Value of a Great Realtor

As the real estate market all over the country became to rumble, and turmoil set in a client of mine said some things to me that I remember to this day. Some were his own thoughts about my performance as a Fort Lauderdale Realtor, and others were thoughts of an older gentlemen that he had met in his Fort Lauderdale Real Estate travels. 

Read more of this Fort Lauderdale Real Estate article.

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