A Fort Lauderdale Condo Bargain

Posted by Eric Miller on Tuesday, May 15th, 2012 at 8:08am.

We all know that is extremely hard to compare one home to another and if it weren’t there really would be no need to appraisers. As the true job of an appraiser is to find comparable properties and through a series of adjustments make the comparatives look more like the property being appraised and come up with a value based of making the homes look the same. A very specific approach in a market where every property has a story, most often this story never effects the appraisal.

Tides at Bridgeside Square Unit for Sale

At Eric Miller and Associates we are about to bring to market a unit at the Tides at Bridgeside Square which is considered one of the most desirable floor plans in the building. We expect that it will sell for about 40% off the peak of the market and still may be unable to get an appraisal at the moment and its all because of the story. However, it will still sell.

Simply the Tides at Bridgeside Square which boasts an incredible location, a solid operating budget and a super will managed building was converted in 2004. Over 200 Fort Lauderdale Condominiums sold at the peak of the Fort Lauderdale Real Estate market. What this lead to was a number of short sales and foreclosures the majority of which are gone but left the building with lower appraisals than nearby older buildings where just a few units were sold at the peak of the market and only a few people had to make the tough decision to give up their homes. Inventory has declined dramatically in the Fort Lauderdale Condominium market in the last year leaving many buyers surprised as how cometitive the market is feeling.

Bottom of Fort Lauderdale's Real Estate Market

As many people talk about the bottom of the market having already passed, and it has, I assure there are great days are ahead for the valuation of condominium units at the Tides at Bridegside Square. I can tell by the recent interest we received in three units we brought to market, that are all under contract.

Thinking of buying a Fort Lauderdale Condominium for an added reminder on why it’s a great time to buy, inventory is shrinking and interest rates are below 4%. Paying cash, interest rates still affect you as they are bringing more buyers to the Fort Lauderdale Real Estate market.

Eric Miller is an award winning Florida Realtor, salesperson and broker. His website, FortLauderdaleGroup.com provides an up-to-date guide to Fort Lauderdale Condos for sale, and the most complete buyer, seller and investor information for the Fort Lauderdale Real Estate Market.

1 Response to "A Fort Lauderdale Condo Bargain"

Fort Lauderdale Penthouse Sold at the Tides at Bridgeside Square « Tides at Bridgeside Square Condominium wrote: [...]today at www.FortLaudedaleGroup.com
Articles about The Tides at Bridgeside Square – Why the Tides at Bridgeside Sqaure may be a Fort Lauderdale Bargain ?
A Perfect Strom Creates Some Deals [...] Posted on Sunday, June 17th, 2012 at 8:15am.

Leave a Comment

Format example: you@domain.com
Format example: yourwebsitename.com

Sign up for email updates