Fort Lauderdale Real Estate Blog

South Florida real estate may be turning around and heading in a positive direction according to several Real Estate analysts, however, not before a possible further 10-15% decline in 2009.

It is important to understand, that South Florida encompasses a large area and many smaller parts; cities, neighborhoods, communities and condominiums, may face less of a decline and rebound sooner.

With huge property inventory levels including foreclosures and short sales, it will take time for these homes and condos for sale to eventually be absorbed.

Once the rebound begins, real estate values should return to realistic sustainable yearly gains of 3-6% instead of the unrealistic gains of recent years, which along with other elements lead to the real estate bubble bursting.

Real Estate will once again return to its inherent value; a home, a roof over your head, a neighborhood, etc., not the get rich quick opportunity.

If you have been patiently waiting on the sidelines searching Fort Lauderdale homes and condos for sale, contemplating a purchase and are planning to stay in the property for at least 5 years, this may now be the perfect time for you to buy.

Buyers can take advantage of rock bottom real estate prices down 30-40% or more, rolled back to 2004 levels.  Interest rates are still at historic lows. First time home buyers including those who have not owned a home for 3 years prior to a purchase may be eligible for a tax credit which is expiring soon.

Do your homework.  As with any great opportunity, the best time to get in for maximum benefit is at the beginning.

For more information about buying a home or condo, contact me today at 954-850-2397 or visit my Fort Lauderdale Real Estate website where you can search the Fort Lauderdale MLS for available homes and condos for sale.

Clients of mine just recently closed on this Fort Lauderdale Foreclosure at 635 SW 5th Avenue, near dowtown Fort Lauderdale.

Built in 2001, this townhouse features 3 bedrooms, 2.5 baths and just under 2,000 square feet of living area.

Sales Price was $290,000 and closing date was December 23, 2008.  The property was previously purchased for $479,900 in June 2005.

Negotiating the contract was easy, however, dealing with the bank’s closing agent was a nightmare.  The closing was held up for 2 weeks and the buyers were almost homeless on Christmas.   The buyers had their own attorney which was prudent and in my opinion, instrumental in successfully closing the transaction.

You can view short sales in Fort Lauderdale or Foreclosusure properties in Fort Lauderdale, or contact me today at 954-850-2397.

Search property listings with access to the Fort Lauderdale MLS or search condos in Fort Lauderdale by building name

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Fort Lauderdale Real Estate sales and inventory statistics for November 2008 reveal a slight improvement regarding inventory levels.  November inventory for all property types, (condo/townhomes and single family homes) was down 2%.   However, It would take almost 3 years to sell off all inventory.

Closed sales for single family homes were down 8% while condo/townhome sales were down 2%.

Buying opportunities are tremendous whether  a short sale, foreclosure or a  seller who has priced their home or condo to sell in this challenging real estate market.

Searching through Fort Lauderdale homes for sale or  finding the perfect Fort Lauderdale Condo for sale, is easy when you visit the Fort Lauderdale MLS.

For more information about buying or selling, contact John Sabia today at 954-850-2397.

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In a recent CNNMoney.com article, Zip Realty reports the most searched zip codes and communities in 2008 for real estate searches.   Fort Lauderdale Real Estate ranked #6 in most searched communities.  With all the news about the declining real estate market nationwide, this report reveals that there are buyers still searching for homes and condos and it is interesting to learn where the most popular searches are.

Perhaps as the real estate bottom reveals itself, this may be a quick look into where the first areas to rebound will be?

Search Fort Lauderdale MLS Listings for homes and condos for sale  including short sales and foreclosures.

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