Fort Lauderdale Real Estate Blog

WaterGarden Condo Listing & Sales activity report 6 new listings in February bringing the total number of condos for sale at WaterGarden to 28 out of 315 (8%).  None of the new listings were short sales or REO foreclosures.

Pending Sales at 347 N New River Drive - WaterGarden

1 condo, unit 1108 (skyview) at WaterGarden was placed under contract in February.  The Listed Price for this condo - $349,000.

Closed Sales at WaterGarden Condo, Fort Lauderdale

2 sales at WaterGarden in February:

Unit 1410 (Moonglow) - Listed Price: $499,000 - Sold Price: $478,000. (95%)

Unit 3011 (Stardust) - Listed Price: $485,000 - Sold Price: $460,000 (95%)

For more information about buying condos for sale at WaterGarden or for a market analaysis for selling a condo at WaterGarden, contact me today at 954-850-2397.

Recent Statistics for property values for Fort Lauderdale homes and condos

Search Fort Lauderdale MLS listings for homes and condos for sale including Fort Lauderdale Foreclosures and Fort Lauderdale Short Sales.

WaterGarden Condo Listing & Sales Activity - January 2009

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Las Olas River House Condo Listing & Sales activity reports 11 new listings for February 2009 for a total of 56 condos listed for sale (20%).

3 of the new listings were short sales and there were no REO bank foreclosures.

Pending Sales for 333 Las Olas Way, Fort Lauderdale:

There were no sales placed under contract in February.

Closed Sales at 333 Las Olas Way, Fort Lauderdale:

There were 2 recent solds at Las Olas River House in February.

Unit 904 (Columbus) was listed at $535,000 and sold at $550,000.

Unit 2710 (Park) was listed at $1,033.900 and sold for $1 Million.

For more information about buying or selling a Las Olas River House Condo for sale, contact me today at 954-850-2397.

 Las Olas River House Listing & Sales Activity for January 2009

Recent statistics on property values for Fort Lauderdale homes and condos for sale

Search Fort Lauderdale MLS listings for homes and condos for sale including Fort Lauderdale Short Sales and Fort Lauderdale Foreclosures.

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February Home Sales figures for Fort Lauderdale Real Estate report very positive news for home sales, pending sales and inventory levels for both single family and condominiums.

Single Family home sales are up 5% from last month and up 47% from same time last year.

Average sales price is up 3% from last month, however, it is down (-42%) from February 2008, no doubt due to the number of short sales and foreclosures.

Single Family Pending Sales are up 36% from January and up 128% from same period last year.  This is incredible!

Single Family Inventory is down (-4%) from January and down (-22%) from February 2008.  Awesome!

Fort Lauderdale Condos  - February condo sales are up 16% from last month and up 24% from February 2008.

Average Sales Price for Condos is up 14% from January, however, it is down (-32%) from February 2008.

Condo Pending Sales are up 33% over last month and up 97% from same period last year.  Again, fantastic news!

Condo Inventory is down (-2%) from last month and down (-18%) from February 2008.

In December I posted Have we reached the bottom in the Fort Lauderdale Real Estate Market? 

There are many opinions on this and many are conflicting.  If you remember, I quoted Suze Orman, “It is only when prices start to go up that we’ve reached a bottom.”

I will be watching the next few months closely to see if figures, specifically pending sales continue on an upward trend.

If you have been on the fence about buying, it may be time to consider that interest rates are attractively low and home prices for the most part have rolled back to 2004 levels.

If you are interested in homes for sale in Fort Lauderdale or considering selling your home, contact me today at 954-850-2397.

You can search Fort Lauderdale MLS available property listings including Fort Lauderdale Foreclosures and Fort Lauderdale Short Sales.

If you are an agent in another area noticing similar trends for your market, please post a link to your blog post in comments.

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Clients of mine just closed on this stunning and impeccably maintained pool home located in the gated golf and tennis community of Eagle Trace in Coral Springs, Florida.

Eagle Trace is home to more than 900 families surrounded by lush tropical landscape, lakes, a golf course, tennis courts and three 24-hour manned gates.

This home was listed for $575,000 and closed in less than 35 days with a sales price of $535,000.

For more information on homes for sale in Eagle Trace, contact John Sabia at 954-850-2397.

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MLS is an acronym for multiple listing service. Wikipedia describes it as a suite of services that (1) enables brokers to establish contractual offers of compensation (among brokers); (2) facilitates cooperation with other broker participants; (3) accumulates and disseminates information to enable appraisals; (4) is a facility for the orderly correlation and dissemination of listing information to better serve broker’s clients, customers and the public.In layman’s terms the MLS is a central database that participating real estate brokers and agents use to share information about properties. Realtors primarily use it in their day to day operation to find properties for buyers and to help sellers arrive at a value for their properties based on sold and unsold like kind properties.

The MLS system is also the most important marketing tool that a Realtor or Broker can have. Participating members of the multiple listing system list their inventory of properties for sale in the database as a way to market them to other members who may have a potential buyer. These Realtors can sell other Realtors listing in return for compensation. If you are looking to sell your home make sure you choose a Realtor who can list your home in the MLS database. Essentially, your home will be accessible to thousands of Realtors and their potential buyers.

Other important facts about the MLS:

•    There is no national single MLS.
•    Local Realtor Associations oversee the MLS system.
•    MLS is trademarked term owned by Major League Soccer
•    Most MLS’s do not have an access for the general public
•    IDX is known as internet data exchange.  This allows a portion of MLS data to be displayed on Realtor websites. When you see “Search MLS” on a Realtors website most of the time you are not accessing the real MLS system.
•    Realtors have to pay money to join a local Realtor association in order to access the MLS system.

Marc Rasmussen
Realtor in Sarasota, Florida
Sarasota MLS

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Greg Rand, a managing partner at Prudential Rand Realty shares 5 tips on Reducing Mortgage Costs on “Happening Now“- video below (Return To Fort Lauderdale Real Estate)

No Negotiation of Preforeclosure Sales Commission
Servicing Guide, Part VII, Section 504.02: Contacting Selected Borrowers
Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a
reduction of the total commission to be paid to real estate agents to a level below what was
negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price of the property in aggregate. Servicers are reminded that they must continue to obtain any approvals that may be required by interested third parties in connection with preforeclosure sales….

You can read more on new guidelines at Fannie Mae.

It is about time that real estate agents are recognized for the amount of time and effort that goes in to successfully closing a short sale.

View Fort Lauderdale Short Sales and Foreclosures listings

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