Fort Lauderdale Real Estate Blog

April 22, 2009

Coral Ridge Homes For Sale | February 2009 Listings & Recent Sales Activity

February Listing & Sales statistics for the Coral Ridge neighborhood report 17 new listings added for a total of 127 homes for sale in Coral Ridge.  This is a 23% reduction in inventory over last month with just 4% of homes listed for sale.

2 Short Sales were added in February while there we no REO bank foreclosures added.

February Listing Graph | Coral Ridge

Coral Ridge Homes Sold in February 2009

There were 7 homes sold in February

  • 3080 NE 45th Street, waterfront-pool. Listed Price $1,795,000.  Sold Price $1,400,000.  Selling Price per sq ft – $381.
  • 2616 NE 17th Street, pool.  Listed Price $1,690,000.  Sold Price $1,325,000. Selling price per sq. ft -  $338.
  • 2800 NE 20th Court, pool. Listed Price $1,300,000.  Sold Price $$1,325,000.  Selling price per sq ft -  $333.
  • 3011 NE 41st Street, waterfront – pool.  Listed Price $1,195,000.  Sold Price $$1,065,000.  Selling price per sq. ft – $454.
  • 1818 Coral Ridge Drive, pool. Listed Price $949,000.  Sold Price $825,000.  Selling price per sq. ft – $199.
  • 2614 NE 15th St, pool. ListedPrice $849,000. Sold Price $$810,000.  Selling price per sq ft – $298.
  • 2510 NE 47th Street, pool.  Listed Price $795,000.  Sold Price $750,000.  Selling price per sq. ft – 305.

Average Days on Market – 113.

Coral Ridge Pending Sales in February 2009

There was 1 home place under contract in February.

  • 2873 NE 24th Street, waterfront-pool.  Listed Price $1Million

Coral Ridge Pending & Closed Sales - February 2009

For more information about buying or selling a home in Coral Ridge, contact me today at 954-850-2397.

Search available Fort Lauderdale MLS Property Listings including Fort Lauderdale Foreclosures and Fort Lauderdale Short Sales

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Source: Fort Lauderdale MLS. Information believed accurate but not warranted.   Average days on market could vary if property was previously listed.

February 23, 2009

Fort Lauderdale High End Home Builder Glenn Wright Facing Lawsuits

If you live on the east side of Fort Lauderdale, it is certain that you have heard of the new home builder Glenn Wright.  Wright is well known for his 2-story “mcmansions” in the Fort Lauderdale neighborhoods of Rio Vista, Victoria Park and Coral Ridge.

Wright’s grandest project, La Preserve, envisioned to be a luxury gated home community in a natural setting remains unfinished and as the Sun-Sentinel reports; 39 of the 67 homes are in foreclosure.*

Wright, a prominent name in home building is facing several lawsuits from angry would-be homeowners, contractors and projects that remain unfinished.*

It is reported that Wright’s development companies are in the red for more than $100 million.   The developer has deeded at least 106 of his company’s properties to a private firm that specializes in debt restructuring.*

*source: Sun-Sentinel.  You can read more of this story in the full article at Sun-Sentinel.

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February 11, 2009

Coral Ridge Homes for Sale | January 2009 Listing & Sales Activity

Coral Ridge Listing and Sales Activity for January 2009 – report there were 27 new listings added and presently there are 162 homes for sale in Coral Ridge.

Out of this number, there are 15 Short Sales in Coral Ridge and 3 Foreclosures in Coral Ridge.

Overall, inventory levels are good with just 6% of homes in Coral Ridge listed for sale.

Coral Ridge Homes For Sale | Listing Inventory

Coral Ridge Homes Sold in January 2009

There were 3 homes sold in Coral Ridge during January 2009.

  • 2866 NE 29th Street, waterfront-pool, Listed Price $1,079,000. Sold Price $995,000. Selling price per square foot – $311.91.
  • 4771 NE 28th ave, pool home, Listed Price $699,900. Sold Price $590,000. Selling Price per square foot – $233.66.
  • 2609 NE 26th Ave, Pool home, Listed Price $600,000 (Short Sale). Selling Price $530,000. Selling Price per square foot – $282.52.

Average Days on Market – 161.

Coral Ridge Pending Sales in January 2009

3 homes went under contract in January:

  • 3111 NE 43rd St, waterfront-pool, List Price $2,990,000.
  • 2800 NE 20th St, pool home, List Price $1,300,000.
  • 2510 NE 47th St, pool home, List Price $795,000.

Coral Ridge Homes For Sale | Pending and Closed Sales January 2009

Coral Ridge Country Club EstatesFor more information about buying or selling a home in Coral Ridge, contact me today at 954-850-2397.

Search available Fort Lauderdale Property Listings

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Information believed accurate but not warranted.  Average Days on Market could vary if property was previously listed.

October 5, 2008

Canadians Taking Advantage of South Florida Real Estate Market and Weak US Dollar

Canada FlagSouth Florida offers warm temps, a favorable Real Estate Market, and a refuge from the cold snow filled winters in Canada. Many Canadians looking for a warmer alternative are taking advantage of a weak US Dollar and purchasing real estate in Fort Lauderdale Florida and surrounding neighborhoods.

For Canadian buyers, the real estate market in the Sunshine State lives up to its name. With supply of high-quality South Florida homes on the rise, house-hunting Canadians have their pick of the litter from high-rise condos such as Las Olas River House, Las Olas Grand, WaterGarden, Symphony, Las Olas Beach Club or L’Hermitage, to single-family homes in luxurious neighborhoods, such as Fort Lauderdale Beach, Las Olas, Lauderdale by the Sea, Wilton Manors, Victoria Park, Coral Ridge, Harbor Beach, Rio Vista and Bay Colony.

Many of the available Fort Lauderdale homes for sale feature large windows, vaulted ceilings, spacious sunrooms, vaulted ceilings, and patios perfect for entertaining and relaxing – all characteristics that embody the South Florida lifestyle and offers a refuge from the cold snow filled winters in Canada.

According to the National Association of Realtors (NAR), Canadians represented 11 percent of all international homebuyers who purchased homes in the United States in 2007. In Florida — where international homebuyers have the highest ownership in the United States — Canadians made up 9 percent of all buyers in 2007. This figure is up from 7.1 percent in 2005.

Navigating the American home-buying process is easy with the right Realtor, particularly one who can provide information about real estate taxes, closing costs and general guidance through the home buying process.

American lenders will give loans to Canadian buyers, but because of the added risk involved, they often demand up to half of the purchase price as a down payment. Canadian Credit Report Online offers a good list of credit bureaus. In most cases, it’s wise for Canadians to purchase a U.S. property in U.S. dollars because the Canadian currency has a tendency to drop against the American dollar. According to Investors Group, about 47 percent of Canadians pay cash for homes while 53 percent take out mortgages.

Downtown Fort Lauderdale FloridaOften times, it’s wise to ask sellers if they’re willing to include any furnishings. This can save buyers the hassle of looking for new furniture and household accessories, particularly if they’re planning on renting the property after they close. In terms of square footage, many Canadians are finding they can get more for their money in the United States.

Purchasing a slice of paradise pie has never been easier for Canadians looking for a retreat from the unforgiving winter weather. This rings particularly true for baby boomers who have recently retired or are about to retire.

For more information about homes and condos for sale in Fort Lauderdale, contact John Sabia today at 954-850-2397.

Go to the Fort Lauderdale Real Estate Home Page

**Cette article disponible en français – Le Sud de la Floride vous offre les temps chauds et le marché favorable

Le sud de la Floride vous offre les temps chauds et le marché favorable

Drapeau QuebecoisLa région du sud de la Floride vous offre de chaudes températures et un marché immobilier très avantageux.

Plus de Canadiens  profitent de la faiblesse du dollar américain, ainsi que d’un marché immobilier accessible à tous, pour acquérir un immeuble à Fort Lauderdale et dans les environs comme Sunny Isles et Hallandale.

Pour les acheteurs canadiens, le marché immobilier est aussi ensoleillé que le surnom de l’État (Sunshine State).  Avec une hausse de maisons à vendre de très haute qualité, les acheteurs ont le choix entre des condominiums de luxe tels que Las Olas River House, Las Olas Grand, WaterGarden, Symphony, Las Olas Beach Club ou l’Hermitage et des maisons unifamiliales dans un environnement luxueux comme Wilton Manors, Victoria Park, Coral Ridge, Harbor Beach, Rio Vista et Bay Colony.

Plusieurs des maisons disponibles dans l’arrondissement de Fort Lauderdale offrent une bonne fenestration, des toits cathédrales, de grands solariums et des patios parfaits pour relaxer et/ou pour recevoir des invités.  Tout cela représente bien le style de vie sud floridien.

Selon le N.A.T. (National Association of Realtors), les canadiens représentent 11% de tous les acheteurs internationaux ayant acquis une propriété aux États-Unis en 2007.  En Floride, ou l’on retrouve le plus haut taux de propriétaires étrangers aux États-Unis, les canadiens représentaient 9% de tous les acheteurs en 2007.  Ce taux était de 7.1% en 2005.

Acquérir une propriété aux États-Unis peut se faire facilement avec le bon agent immobilier québecois qui parle français.  Il peut vous transmettre les informations exactes sur les taxes, les frais reliés à la vente et les aspects légaux.  Certains agents peuvent même agir en tant que médiateurs pour la mise de fond initiale pourvu que le client présente un bilan financier positif.

Il est possible de financer l’achat par l’entremise d’une institution américaine, mais à cause du risque accru, ils demandent souvent jusqu’à la moitié du coût de la propriété comme mise de fond initiale.  C.C.R. (Canadian Credit Report – Online) offre une liste des bureaux de crédit.

Dans la plupart des cas, il est recommandé d’acheter une propriété américaine en dollars américains parce que la devise canadienne a tendance à perdre de la valeur vis-à-vis du dollar américain.  Selon le Group Investors, environ 47% des canadiens paient leur maison et/ou condo comptant alors que 53% prennent une hypothèque.

Il peut être avisé de demander au vendeur s’il veut inclure dans la vente de l’ameublement.  Ceci évitera au nouveau propriétaire l’achat de nouveaux meubles et accessoires lors du déménagement surtout si l’acheteur a l’intention de louer les lieux après l’achat.  Les canadiens trouvent qu’ils en ont plus pour leur argent en achetant aux États-Unis par rapport à la superficie de la propriété.

Acheter une part du paradis n’a jamais été aussi facile pour les canadiens qui en ont assez des hivers rigoureux.  C’est particulièrement vrai pour les baby boomers qui arriveront à la retraite bientôt et pour ceux qui y sont déjà.

Pour plus d’informations sur les condos à vendre  en floride et/ou maisons à vendre, vous pouvez me contacter, Johanne Gosselin-Sabia au 954-261-6344.  De plus, vous pouvez visiter le meilleur Website pour l’immobilier en Floride.

This article available in English – Canadians Taking Advantage of South Florida Real Estate Market and Weak US Dollar

October 2, 2008

Why Invest in a Fort Lauderdale Home

Fort Lauderdale BeachSnowbirds and current residents alike can save big by buying a new home in Fort Lauderdale or any one of South Florida’s most affordable neighborhoods.

From South Beach to Palm Beach, millions of tourists flock to South Florida in droves every year to soak up gorgeous weather, take in breath-taking scenery and experience endless outdoor activities.

Clearly, South Florida cities, such as Fort Lauderdale, Miami Beach and Boca Raton, have a lot to offer those that visit — and those that already live here. Tourists and snowbirds looking for a place to settle down or reside for an extended vacation should consider owning residential real estate in Fort Lauderdale. In the current unnerving economy, it’s smarter than leasing a property or overspending at an expensive hotel.

While the Fort Lauderdale area, for instance, boasts a large concentration of wealthy neighborhoods such as Las Olas, Bay Colony, Coral Ridge, Harbor Beach, Rio Vista Lauderdale by the Sea, Sea Ranch Lakes and Fort Lauderdale Beach lined with luxurious homes and exclusive properties, a good chunk of this extraordinary city offers plenty of affordable homes in premiere neighborhoods.

If you’re considering purchasing a home or buying a condo in Fort Lauderdale, every cent counts in today’s market, so it’s critical to invest in a property that will create long-term wealth. Buying a new home makes good financial sense. For consumers who want to save money, new construction homes save them the headache of dealing with maintenance woes that come with buying older properties. Because mortgage interest and real estate taxes are tax deductible, consumers have another big opportunity to save.

A knowledgeable Realtor can show you a variety of homes for sale in Fort Lauderdale and surrounding areas that feature the latest and greatest in energy-efficient heating and air conditioning systems. Buying new construction in Fort Lauderdale also allows you to chose the exact home you want — from the layout design, crown molding in the living room to the appliances and kitchen counter tops. With pre-owned homes, it can be difficult to adjust to the past owner’s taste.

A Fort Lauderdale Realtor can not only show you a wide variety of homes but they can also show you an array of Fort Lauderdale condos in the heart of the city as well as Fort Lauderdale beach condos. Fort Lauderdale’s most modern facilities offer just the right mix of design and practicality — all just blocks from the city’s entertainment and recreational hub. For those with a desire for waterfront views, Fort Lauderdale has plenty of waterfront properties on canals and other waterways.

Once you’ve settle into your new home, you have time to sit back and enjoy all the exciting events and activities Fort Lauderdale has to offer, including air and boat shows, arts and crafts fairs, fashion shows, boat parades, street parties, concerts, food festivals and so many more outdoor activities.

For more information about buying or selling real estate in Fort Lauderdale, contact John Sabia at 954-850-2397 or visit the Fort Lauderdale Real Estate website.

August 15, 2008

Investing in Real Estate | Local Knowledge is Key

Don’t Base Your Investments on National Indicators

Fort Lauderdale Condos

While it may appear like you’re seeing the same home prices and sales in your local market that are being reported in neighboring counties and states, it’s important not to lose sight of the details specific to your market. Markets can vary widely from city to city, neighborhood to neighborhood or, as in the case of Fort Lauderdale condos such as Las Olas River House, Las Olas Grand,WaterGarden, Symphony, Las Olas Beach Club or L’Hermitage; building to building.

Keeping market-specific details, such as price trends, volume and inventory, in mind when buying or selling residential real estate in Fort Lauderdale and elsewhere, is the key to evaluating real estate deals.

Unfortunately, the media has a tendency to generalize and summarize what’s taking place in the real estate market and often times, both buyers and sellers end up making critical decisions based largely on prices and sales. For real-time state of the market, they should be looking at sales volume and inventory trends, which will show how active or soft a particular market is.

To be successful in this industry, you should never look at real estate through a wide-angle lens. Get a more lucid picture of what’s taking place in your local market by breaking it up and examining the details.

You can probably come up with a slew of characteristics that differentiate various neighborhoods within your local market such as Bay Colony, Coral Ridge, Las Olas, Harbor Beach, Rio Vista, Wilton Manors and Victoria Park.

It’s critical for buyers and sellers to understand these characteristics and, in turn, communicate their buying or selling needs with a real estate professional. In order to get the best advice, service and consultation, buyers and sellers need to be particularly selective when choosing an agent that is most knowledgeable about their local market and will be able to best meet their needs.

On a similar note, buyers and sellers should not get too hung up on waiting for the housing market’s bottom. Many buyers, who are now sellers, missed all the signs of the market’s top and it’s highly likely that buyers may also miss the so-called bottom — if they wait around to read about it in the news.

It takes a good four to six months for statistics to report the start of a recovery and it will be too late by the time it hits the media. While it’s easy to see a bottom coming, it’s impossible to pinpoint when it will happen exactly. People that are fortunate to buy at the bottom won’t realize their good fortune until it’s passed.

Making sure you do your homework when purchasing a home is a no brainier, but all too often people make investments based on what the media reports. One size fits all doesn’t apply to the real estate world.

If you are considering buying or selling real estate in Fort Lauderdale, Florida, contact John Sabia at 954-850-2397 or visit the #1 Fort Lauderdale Real Estate website.

August 11, 2008

Friday Night Lights at Cardinal Gibbons High School to be Decided by City Officials

Friday Night Lights at Cardinal Gibbons | Coral Ridge – Fort Lauderdale

Cardinal Gibbons Football Field

Residents in the upscale community of Coral Ridge Country Club Estates neighboring Cardinal Gibbons High School are planning a meeting with city officials to determine what is to be done with the high school’s football field lighting.

Cardinal Gibbons school officials reportedly spent nearly $250, 000 on new field lighting after receiving permission from the city of Fort Lauderdale to install the light towers. Through what seems as an oversight, permission was given to install 4 light towers exceeding the 35 feet height limit per city code. Neighbors affected by the bright lights complained and city officials realizing the error, contacted the school with 3 options, one being to apply for a variance. Cardinal Gibbons chose to apply for a variance.

The decision on the Friday Night Lights at Cardinal Gibbons will be decided at a meeting with city officials, now scheduled for Wednesday, August 13, 2008 at City Hall, 100 North Andrews Avenue. The public is welcomed to attend.

Coral Ridge is located between Commercial Boulevard and Sunrise Boulevard just west of the Intracoastal Waterway and east of Federal Highway.

Homes for sale in Coral Ridge range in price from $400′s to more than 7 million for homes on dry lots, golf-course and waterfront canals.

March 6, 2008

BankUnited Blacklists Condos

Filed under: Fort Lauderdale Real Estate News — john sabia @ 9:21 am

The BankUnited Blacklist: What it Means for Buyers, Builders, and Lenders

Nu River Landing | Fort Lauderdale CondosMuch of the talk around the real estate water coolers the last few days has been about the BankUnited Blacklist. Most lenders have short lists of areas or properties that they will not lend to based on the merit of construction loans, the market, and other factors. But, the reason that the BankUnited lists stands out to most in the real estate world is because of its length. The exact number of properties on the list? 191. Two condos on the list are right here in Fort Lauderdale.

Buyers that are considering buying units in Nu River Landing, Q-Club Condo Hotel, or 189 other buildings mostly in Miami, shouldn’t turn to BankUnited for financial help as these are properties that have been black listed. The list was from an internal memo and its length surprised even the most seasoned real estate professionals.Q Club | Fort Lauderdale Condo Hotel

Experts claim that the biggest factor in creating such a list would be declining market value as well as high investor concentration. The lender also had to look at things such as foreclosure rates, delinquent homeowner association dues, and structural based litigation. These are considerations that lenders have to make every time they lend, and with the market like it is right now BankUnited felt that this was the appropriate way to respond.

A spokesperson said of the list and the current market value of condos, “We look at it more from our level of risk, and we are extremely conservative in our lending guidelines. We scaled back on condo lending a few years ago. We don’t have a lot of exposure in the condo market.”

The fact is that many lenders are hesitant to lend to condo projects and that is because there is some question about the real value of a condo with sales so slow and many buyers backing out of contracts. And when a lender cannot determine the value of a property it is hard to set a loan to value ratio, therefore difficult to lend to anyone including those with good credit, with confidence. While BankUnited is the only lender that is known to have a list this long, it’s a safe bet that some other lenders are considering whether or not they should be lending to condo projects, and if they do, they’ll likely be doing away with presales altogether. Of course, doing away with presales may affect construction loans, so we may very well see a slowing trend not only in the buying of condos but also in the building of them.

Blacklisted Condos

Nu River Landing

Ft Lauderdale

Q-Club Condo Hotel (Resort)

Ft Lauderdale

50 Biscayne

Miami

600 Biscayne

Miami

1650 Biscayne

Miami

900 Biscayne Bay

Miami

500 Brickell

Miami

1390 Brickell Key

Miami

1001 Center

Miami

1600 Club

Miami

Altas de Miami

Miami

Asia

Miami

Atlantis Condo

Miami

Avenue

Miami

Axis on Brickell

Miami

Bay Lofts

Miami

Bayshore Place

Miami

Beacon

Miami

Belle Plaza Efficiency

Miami

Biscayne Tower

Miami

Blue

Miami

Boulevard Condos

Miami

Brickell Bay club

Miami

Brickell Bay Tower

Miami

Brickell Biscayne

Miami

Brickell City Center

Miami

Brickell Commons

Miami

Brickell East

Miami

Brickell Forest

Miami

Brickell Harbour

Miami

Brickell Key

Miami

Brickell Key I

Miami

Brickell Mar

Miami

Brickell On the River

Miami

Brickell Park

Miami

Brickell Place

Miami

Brickell Station

Miami

Brickell Tennis Club

Miami

Brickell Townhouse

Miami

Brickell View

Miami

Brickell Vista

Miami

Brickell Tower

Miami

Capital at Brickell

Miami

Captiva F

Miami

Carboneil

Miami

Cima Condo

Miami

Cite

Miami

City 24

Miami

Club at Brickell

Miami

Commodore Bay

Miami

Coral Station in Brickell

Miami

Costa Bella

Miami

Courts Brickell Key

Miami

Courvosier Courts

Miami

Cynergi

Miami

Downtown Lofts 4

Miami

Elliot house

Miami

Emerald at Brickell

Miami

Empire Towers

Miami

Epic-Dupont

Miami

Espirito Santo Plaza

Miami

Everglades on the Bay

Miami

Filling Station Lofts

Miami

Flagler First Condo

Miami

Fortune House

Miami

Four Ambassadors 1

Miami

Four Ambassadors 2

Miami

Four Ambassadors 3

Miami

Four Ambassadors 4

Miami

Four Seasons Hotel & Tower

Miami

Golden Bay Club

Miami

Houses of Brickell

Miami

Ice

Miami

Ice 2

Miami

Icon

Miami

Imperial

Miami

Infinity at Brickell

Miami

IOS on the Bay

Miami

Ivy

Miami

Jade Residences at Brickell

Miami

Kenland Bend South

Miami

Lake Beach Condo

Miami

Lakewood Village

Miami

Latitude on the River

Miami

Loft

Miami

Loft II

Miami

Lofts on Brickell1

Miami

Lofts on Brickell 2

Miami

Los Suenos de Brickell

Miami

Lighte Miami Condos

Miami

Lnyx

Miami

Marina Blue

Miami

Mark

Miami

Marquis Miami

Miami

Mary Vrickell Village

Miami

Mayfield

Miami

Meridan at Hughes Center Condo

Miami

Met 1

Miami

Met 2

Miami

Met 3

Miami

Metropolitan

Miami

Midtown Miami

Miami

Mint at Riverfront

Miami

Neo River Lofts

Miami

Neo Vertica

Miami

Oasis on the Bay

Miami

One Broadway

Miami

One Miami

Miami

One Miami West

Miami

One Plaza

Miami

One Riverview Square

Miami

One Tequest Point

Miami

Onyz 2

Miami

Opera Tower

Miami

Overtown Miami

Miami

Palace

Miami

Paramount on the Bay

Miami

Paramount Park

Miami

Parc Lofts

Miami

Platinum

Miami

Plaza on Brickell

Miami

Point at Brickell

Miami

Point View

Miami

Pompeii

Miami

Premiere Towers

Miami

Provincial Garens

Miami

Pyramids of Key Biscayne

Miami

Quantum on the Bay

Miami

River Breeze

Miami

River House Lofts

Miami

River Oaks

Miami

Riverfront

Miami

Riverfront Wind

Mami

Sail

Miami

Sail Boat Cay

Miami

Samari Lake East

Miami

Seacoast Towers

Miami

Skyline Mary Brickell Village

Miami

Skyline on Brickell

Miami

SMA

Miami

Soleil Miami

Miami

Solaris Brickell Bay

Miami

South Miami Ave condo

Miami

Summit Brickell

Miami

Star Lofts

Miami

Sunset Harbour

Miami

Ten Museum Park

Miami

The Carriage House

Miami

The Jade Condominium

Miami

The Mark on Brickell Bay

Miami

The Palace Condominium

Miami

The Village of Kings Creek

 

Three Tequesta Point

Miami

Two Tequesta Point

Miami

Uptown Lofts

Miami

Vanderbilt Gulfsid

 

Villa Brickell

Miami

Villa Magna

Miami

Villa Regina

Miami

Village at Hawk’s Cay

 

Vue at Brickell

Miami

Wind by Neo

Miami

Yorker

Miami

Allure

Las Vegas

District in Green Valley

Las Vegas

Manhattan Condos

Las Vegas

Mirage Condominium

Las Vegas

Newport Lofts

Las Vegas

One Queensridge Place

Las Vegas

Panorama Towers

Las Vegas

Park Avenue Condo

Las Vegas

Regency Towers

Las Vegas

Skyline Las Vegas

Las Vegas

Soho Lofts

Las Vegas

Turberry Place

Las Vegas

Tunberry Towers

Las Vegas

Carriage Hills

Hollywood

Sian Ocean Residence

Hollywood

Delray Estate Condominium

Delray Beach

The Resort at Singer Island

Riviera Beach

Venetian Bay Villages condo

Kissimmee

Villagio Condo in Port Orange

Port Orange

 

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