Ft Lauderdale Homes and Condo Sales

Short Sales in Fort Lauderdale - What buyers and sellers need to know - Patience is the Key !

We have all heard over and over again that "short sales don't work", "they never close", "banks don't approve them", and my personal favorite, "I'm going to lose the house anyway so why even try".

I can always seem to find a buyer of Fort Lauderale Real Estate willing to tell the story of the Ft. Lauderdale Short Sale he tried to buy that just did not happen. To all those people I can assure you of only two things, first, if you don't attempt a short sale it will never be approved. Secondly, short sales do take patience.

80% of the people losing their homes in the Fort Lauderdale Real Estate market never attempt a short sale. As of late banks have been moving…

Venezia Condo - One of Fort Lauderdale's Finest is located at 111 SE 8th Ave, 33301. This boutique building of only 49 units stands 17 storeis tall just a short distance off Las Olas Boulevard, and all downtown Fort lauderdale has to offer.

At Eric Miller and Associates, Keller Williams Realty Professionals,  we are proud to be offering for sale a unique home of over 3000 sq. feet, with expansive views in every direction.  

Beautiful marble floors and leaded glass doors tell you from the moment you enter this residence you are in one of the finest custom homes in Ft. Lauderdale.

In addition to the huge livingroom there is a den which is large enough and formerly was a billards room.

The balcony has views all the way to Fort Lauderdale Beach, and will…

Anyone who reads my blog posts knows that I have remained optomistic about the real estate market in South Floirda for many months. About 4 monhts back we started to see some trends in the FT. Lauderdale Real Estate market that indicated our market had bottomed out.

Notice I say trends because the timing of the real estate market, with every property and transacton being unique,  would be totally impossible. There is never going to be point where we can say definitely that a certain time and date represented the bottom of the Fort Lauderdale Real Estate market, no matter how hard the media tries.

Some things to ponder, sales of both Fort Lauderdale Condos and Fort Lauderdale Single Family homes rose last month by over 10%. For the same period the…

On 3/2/2010 the Fort Lauderdale MLS reported the sale of 650 San Marco Drive, one of Fort Lauderdale's Waterfront Estates. The property which boasts over a half acre, on a point lot has over 450 feet of prime waterfront.

The home is over 7000 sqaure feet, and contains 5 bedrooms, 6 full and 2 half baths. Originally listed for $13,900,000 and later reduced to $11,900,000 the estate sold for $10,800,000.

The home features luxury finishes throughout including venetian plaster, beamed and coffered ceilings and a chefs kichen. In addition two fireplaces, a wine cellar and a beautiful pool area complete this Fort Lauderdale Estate Home.

When looking for a waterfront Fort Lauderdale Home making things go into the valuation, but purchasing waterfront…

Over the last few years the real estate market can be viewed as the perfect storm. Bad loans started to surface, too many sellers became landlords and investors assuming the market could only go up, and the economy tanked, these and numerous other occurrences, not to forget 9/11 simply changed the world as we knew it and along with it our real estate markets.

No real estate was excluded from this price correction. Sorry even you had the most special kitchen cabinets in the world chances are your home went down in value as well.

However, as we enter a new Fort Lauderdale real estate market and a more balanced one, where buyers don't out number sellers 100 to 1, I sincerely believe many of the rules of this normal market are returning. You all remember…

On 12/29/2009 a two bedroom unit closed at Point of America for $325,000, as a short sale which was in work since April of 2009.

This unit which had a tax value of almost $500,000 was a excellent deal. As I always say the best thing about the conclusion of a short sale sale or a foreclosure is once their gone their gone, and the single biggest force effecting the value of property in the area just disappeared.

Point of America is one of the single best locations in the Fort Lauderdale area. For those of you who have gone on a cruise you have passed the gleaming white towers, as the name would suggest, when you pass the point entering in to Port Everglades.

The views are spectacular and a huge renovation over the years proves these building to be…

Just before the end of the year a 12th floor unit sold at Portofino, which is located at 77 South Birch Road, Fort Lauderdale. This building sits directly on the intracoastal waterway, on the beach side, close to beautfiul Las Olas. It is a great smaller building with only 52 units all of which go through the building, east to west.

Most have a partial ocean view on the east side (some have been partially blocked by new constrcution over the years) and a downtown, intracoastal view on the west side. In most units the western view is from the kitchen area of the units.

Over the years since its constructon in 1982 the building has been beautifully maintanined and renovated. The pool area, gym, and lobby have all been redone. The building does have dock…

Just prior to the end of the year a 2 Bedroom condo sold in the Illini Tower for $395,000.

These units are approximately 1600 square feet, and this relates to a sales price of about $246 per square foot.

In April of 2007 a unit sold for $795,000. On the surface it looks like prices have dropped almost 50%. This is not true.

The unit that sold for $795,000 had received a total, spectacular renovation that I would estimate today would cost today over $150,000.

This would place the price decrease from 2007 to 2010 at approximately 30%. This is a much more realistic number for this superior location.

The Illini is all about location, and it is not for everyone. It is located on a triangular piece of property where A1A's North and South bound…

It will not be a year that many in real estate will soon forget, but as the year came to a close we did start to see many good signs on the horizon. Please understand that a good sign does not mean we started to see prices moving dramatically in any direction. Good signs mean that we started to see signs of a normalizing market where buyers and sellers were more on an even playing field. A market where we could call both sides winners in the deal.

To help people understand the Fort Lauderdale market I thought it would be enlightening to look at the last 5 condominium sales of 2009 and the last single family home sales of 2009.

Today I will list the beach area condominium sales and over the next few entries will discuss each in more depth. If you are…

Each day another article appears predicting gloom in 2010 to the real estate market in South Florida. One recent article ended with "distressed properties will drive the market". Finally someone almost pointed out why the numbers will look like gloom for the market. Let's look at the issue, the price point that feeds the story of gloom and doom. If you want to see real numbers add a few zero's but this is to prove my point. If 10 properties sell in January 2010, and 9 of them are trashed out foreclosures needing massive renovations, then distressed properties have driven the market. If those properties sell for $30,000 each for a total of $270,000 and the one lone sale occurs in great condition, beautiful view, and in a superior location for $400,000. The…