Fort Lauderdale Real Estate Blog

June 13, 2011

233 Garden Court – Marina Village Townhomes | Lauderdale By the Sea, Florida

Filed under: Fort Lauderdale Real Estate News,Fort Lauderdale Townhomes,Just Sold,Lauderdale by the Sea,South Florida Real Estate — Tags: , , , , , — john sabia @ 4:15 pm

Lauderdale by the Sea Real Estate

After 8 months waiting for lender approval on a short sale, clients of mine just closed on this outstanding waterfront Marina Village Townhome in Lauderdale By the Sea, Florida.

Built in 2007, Marina Village Townhomes consists of a total of 6 luxury townhomes with only 3 waterfront.

Originally sold for $1.3 million; this corner 3,000 plus square foot tri-level townhome with private elevator, roof top terrace, private balcony off master suite and boat dock just closed at $675,000.

Photos of Marina Village Townhomes in Lauderdale By Sea, Florida

Marina Village Townhomes

Marina Village Townhomes - Lauderdale By Sea

Marina Village townhome interior photo

Kitchen at Marina Village Townhome

Exterior backyard of Marina Village Townhome

View from roof-top terrace at Marina Village Townhome

View From Roof-top terrace

Lauderdale by the Sea is a quaint beach community nestled between the Atlantic Ocean and the Intracoastal Waterway just north of Fort Lauderdale which attracts year round tourists to beach front shops, restaurants, water sports and a pristine beach.

Call me at 954.850.2397 if I can help you buy or sell a home in Lauderdale By the Sea, Florida.

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May 25, 2011

Fort Lauderdale Waterfront Homes | Jan – March 2011 Market Report

Filed under: Florida real estate,Fort Lauderdale Real Estate News,Market Report,South Florida Real Estate,foreclosure properties,short sales — Tags: , , , , , , , , , — john sabia @ 4:13 pm

First Quarter 2011 Market Report for east side Waterfront homes for sale in Fort Lauderdale show inventory levels are about 75 fewer homes for sale, which is not much of a reduction in the amount of homes available for sale over the past year.  The number of closed sales and pending sales have increased month over month for this quarter; however, they remain consistent with same time last year.

graph of waterfront homes Waterfront home Foreclosures in Fort Lauderdale represented .03% of available inventory and .05% of closed sales in the first quarter 2011.

Foreclosure Listing & SalesWaterfront Short Sales in Fort Lauderdale made up approximately 24% of inventory and .08% of sales in the first quarter 2011.

graph of short sale waterfront homesThe Average Price Per Square Foot is trending upward this quarter at roughly $341.00 per foot.  This includes all waterfront homes with fixed bridges and no fixed bridges.  No fixed bridges would have a higher amount.

Average Price per square foot for waterfron homesAverage Price For Sale trended upward slowly over the past year while Average Sales Price had a bumpy ride over the past year trending up for the first quarter 2011.  The Median Sales Price this quarter remained fairly consistent at about $993,000.

Average Price for Sale & Average Price SoldMedian Sales Price for a waterfront homeAverage days on the market is a little over six months.  The percentage a home sold versus the listed price is roughly 84%.

Average Days on Market for a waterfront homeMonths of Inventory is the big shocker here.  In the first quarter of this year, inventory dropped by almost 1 year.  A peak into April inventory reveals the level dropped another month to the lowest level over the past year.  Very encouraging.

If you are interested in selling or buying a waterfront home for sale in Fort Lauderdale, call me at 954.850.2397.   You can view property listings by searching the Fort Lauderdale MLS.

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May 24, 2011

Tides at Bridgeside Square | Fort Lauderdale Condo

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Listed,Tides at Bridgeside Square — Tags: , , , , , , , , , , , , — john sabia @ 3:12 pm

Tides at Bridgeside Square Condo in Fort Lauderdale

I just listed a 2 bedroom 2 bath corner unit at Tides Bridgeside Square with panoramic intracoastal views and a distant view of the Fort Lauderdale downtown skyline.

This condo features a split bedroom plan with huge closets.  An updated kitchen with granite counters and top appliances.  2 assigned garage parking spots and extra storage unit.  Offered for sale at $297,000.

Aerial of Tides at Bridgeside Square condo

Tides at Bridgeside Square

Tides kitchen

Updated kitchen with granite counters

Living Area

Master bedroom

View

Intracoastal views with distant downtown Fort Lauderdale skyline

Tides at Bridgside Square offers a resort lifestyle across from the beach, next to boutique shops and fine restaurants.

For more information about this or other Fort Lauderdale condos for sale, contact me at 954.850.2397.

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May 12, 2011

Fort Lauderdale Real Estate – Market Report | January to March 2011

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Market Report — Tags: , , , , , , , , — john sabia @ 6:17 pm

First quarter Market Report for Fort Lauderdale Real Estate show continued improvement for the Fort Lauderdale Beach, Northeast and Southeast areas for both single family and condominium/townhouse properties.

Inventory was down, Sales were up and pending sales were also up.  The number of properties for sale has trended down across the graph and there are almost 1,000 fewer properties for sale in March 2011 than there were in January 2010.

For Sale, Sold, Pending and New Listing Graph

Number of Homes For Sale, Sold, Pending and Newly Listed

Foreclosures represented 0.04% of inventory and 24% of sales in the first quarter of 2011 :

Foreclosures

Fort Lauderdale REO Foreclosures

Short Sales made up approximately 13% of inventory and 38% of sales in the first quarter of 2011:

Short Sales Graph

Fort Lauderdale Short Sales

Average Price for a property for sale trended up, Average sales price bumped up and down and the Median Price Sold trended upward.

Average Price For Sale and Average Price Sold

Average Price For Sale / Average Price Sold

Median Price for Properties Sold

Median Price Sold

Months of Inventory shrunk significantly.  Look at January 2010 and September 2010 when the months of inventory was 1.5 years.  Even from January to March of this year, months of inventory has reduced by almost half:

Months of Inventory

Months of Inventory

There is still room for improvement, however, these are encouraging signs that the market is rebounding.

If you are interested in buying or selling real estate in Fort Lauderdale, Florida, call me at 954.850.2397.

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April 29, 2011

5711 NE 21 Drive | Imperial Point – Fort Lauderdale

Filed under: Fort Lauderdale Real Estate News,Imperial Point,Just Sold — Tags: , , , , — john sabia @ 2:55 pm

I just recently closed on this home for sale in Imperial Point, Fort Lauderdale.  This pool home,  in original condition with a few updates, was exactly what the new homeowner was looking for.  On the market for just under a year, this home had been reduced to $329,000 and finally closed at $300,000.

Imperial Point Home

Imperial Point Home

Kitchen photo

Kitchen

Dining Area

Dining Room

Pool

Screened in Pool

For more information about selling or buying Imperial Point homes for sale, contact me today at 954.850.2397.

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March 29, 2011

350 Las Olas Place | Downtown Fort Lauderdale Condo

Filed under: 350 Las Olas Place,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Listed — Tags: , , , — john sabia @ 5:27 pm

I recently listed this low floor condo at 350 Las Olas Place in downtown Fort Lauderdale.  A southeast corner unit offering almost 1,300 square feet with 2 bedrooms 2 baths featuring marble floors, granite kitchen with stainless appliances and a view onto Las Olas Blvd.  350 las Olas Place is a boutique condominium with only 163 residences boasting resort style amenities including 24-hour security, a roof-top infinity edge pool, fitness center and  clubroom with expansive views of downtown and the Fort Lauderdale coastline.

350 Las Olas Place

350 Las Olas Place

Kitchen

Kitchen

Living Area

Living Area

Pool

350 Las Olas roof-top pool

Call me at 954.850.2397 if you are interested in hearing more about this property or if you are interested in buying or selling a property in Fort Lauderdale.

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March 23, 2011

Recent Home & Condo Sales in Fort Lauderdale

Filed under: Florida real estate,Fort Lauderdale Condos,Fort Lauderdale Real Estate News,Just Sold,Real Estate News — Tags: , , , , , — john sabia @ 3:42 pm

Below are my latest single family home and condo sales in Fort Lauderdale.   I recently received the Coldwell Banker International President’s Circle Award for 2010 which represents a distinguished group of 998 agents out of over 40,000 sales agents.

Playa Del Mar Condo #1206

3900 Galt Ocean Drive #1206, Playa Del Mar

Playa Del Mar Condo

Playa Del Mar 1206 view

Direct Ocean View

Direct ocean view from this high floor ocean front condominium boasting over 1,800 square feet with 2 bedrooms and 2 full baths.  Closed Sales price $445,000.  Listing Office First Realty Management Group.

Everglades House Condo

Everglades House #1002

2000 S Ocean Drive 1002 | Everglades House

Everglades House Condo

Everglades House 1002 view

View from Everglades House Condo

Direct ocean and inlet views from this remodeled 2 bedroom 2 bath condo with 1,524 square feet.  Closed Sales $375,000.  Listing Office RE/MAX Preferred.

Everglades House Condo 407

Everglades House #407

Ocean & Inlet view

This 2 bedroom 2 bath condo was sold in original condition.  With almost 1,700 square feet of living space, the new owners couldn’t wait to create their new dream home.  Closed Sales Price $300,000.

Everglades House #1009

Everglades House 1009

Living Area

Everglades House 1009 view

Ocean view

Port Everglades Inlet and direct ocean views from this renovated 2 bedroom 1.5 bath condo with 1,200 square feet.  Closed Sales Price $315,000.

Atlantic Towers #1707

Atlantic Towers Co-Operative

Atlantic Towers Co-Op

High Floor studio apartment with full kitchen at Atlantic Towers Co-Op. Impressive ocean and intracoastal views and a blank canvass ready for renovations.  Closed Sales Price $64,000.

Cromwell East Condo

Cromwell East 1777 SE 15th Street

Cromwell East Condo

Pool and Dock Cromwell East

View of pool and marina

Ideal Southeast Fort Lauderdale location from this 2 bedroom 1 bath waterfront condo that features boat slips when available.  Closed Sales Price $110,000.  Listing Office Prudential Florida Realty.

Fountains On Ocean Boulevard

Fountains on Ocean Boulevard

Fountains on Ocean Boulevard Condo

Kitchen in #500 Fountains on Ocean Condo

Elegant Gourmet Kitchen

Living Room

Living Room

View From Fountains on Ocean Boulevard

Small Ocean view

Fountains on Ocean Boulevard Condo is one of 2 recent newly constructed residences across from the beach between Oakland Park and Sunrise Boulevard.  Fountains recently sold out the remaining units at a public auction.   Closed Sales Price for this 2 bedroom 2bath condo with more than 1,500 square feet was $439,000 including many developer incentives.

Monterra at Cooper City

Monterra Cooper City

Anacapa Home at Monterra

Kitchen at Monterra home

Upgraded Kitchen

Lake View Monterra at Cooper City

Lake View

Monterra at Cooper City is a new construction gated community offering buyers several floor plans to suit their needs.  This Anacapa Home in Santa Barbara features 3 bedrooms, 2.5 baths with over 2,700 total square feet.  Closed Sales Price $335,900 before upgrades.  Developer CC Devco Homes.

Contact me at 954.850.2397 if I can help you buy or sell a home or condo in the Fort Lauderdale area.

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January 12, 2011

Hiring a Real Estate Agent

Filed under: Real Estate News — Tim Ryan @ 5:09 pm

Hiring a Real Estate Agent

Purchasing a new home is a tremendous undertaking, and one that should be done under the guidance of an experienced and knowledgeable real estate agent. Mid-to-large size cities will have a heavy pool of agents, and it is important that you choose one who best fits your specific needs. The ideal candidate will have expertise in the community or neighborhood you have targeted. If you are also selling a property, be sure the Realtor handles both buying and selling, as it complicates things considerably to be dealing with multiple agents.

There are several things you want to uncover through research, discussions with the potential Realtor and even a formal interview before making a decision to move forward. The most important qualities to look for are:

Knowledge – does the agent know the market and can provide suggestions and guidance based on your desires and needs? When you say you want a fixer-upper near the business district with classic styling, the Realtor should be able to readily identify available matches.

Sophistication – is the Realtor and/or her agency leading edge when it comes to technology, giving you immediate access to the most updated listings, and creating a high quality, engaging listing for the house you are selling?

Responsiveness – are your inquiries, emails and phone calls answered in a timely manner? If the time comes to put in an offer, or receive an offer, the deal could be made or lost in a matter of minutes, so open communications with the realtor is essential.

Negotiation – does this agent have the skills required to get you the best price, whether buying or selling? He or she should have some bargaining chips that can be used to your advantage, like paying some of the buyer’s closing costs or getting patio furniture and the outdoor grill thrown in.

Loyalty – does the agent have your best interest in mind? If he/she is only showing you listings from his own company, you are missing out. Also be careful of someone trying to get you to sell below your pre-determined threshold. Their commission will only be incrementally affected, but your proceeds could take a real hit.

While your Realtor is a trusted adviser, you should educate yourself as well. Ask for comps in the neighborhood where you are most interested. Also ask the agent for his or her sales history. If selling, ask what the average time on the market is for the agent’s listings. If buying, a good indicator would be sales price compared to asking price.

There are so many complexities associated with home buying, like the mortgage process, inspections and insurance. The right Realtor can help to clear through the clutter so that you can stay focused on the most important element – finding the home of your dreams!

About the author – Tim Ryan is a Naples Real Estate Agent.   Visit his website to search thousands of Naples homes for sale.

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October 23, 2010

Fort Lauderdale Condos | Market Update – 3rd Quarter 2010

Filed under: Florida real estate,Fort Lauderdale Condos,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , , , , , — john sabia @ 8:23 pm

Fort Lauderdale Condos

Fort Lauderdale Real Estate – Third Quarter Market Trends for Fort Lauderdale Beach, Northeast and Southeast condominiums.

In September, inventory for Fort Lauderdale Condos for sale increased by 1% month over month and were down -7.6% from  January this year.  New Listings were up 8% in September; however they were down -24.4% as compared to January.  Closed Sales were down -20.3% from the previous month and were also down -2.5% as compared to January.  Pending Condo Sales were up 8.3% from August and were down -20.4% from January.

For Sale/ Sold/ Pending/ New Listing - Condominiums/Townhomes

    1 Month   9 Months    
  Sep 10 Aug 10 % Change Sep 10 Jan 10 % Change
For Sale 1900 1881 1% 1900 2056 -7.6%
New Listing 338 313 8% 338 447 -24.4%
Sold 118 148 -20.3% 118 121 -2.5%
Pending 195 180 8.3% 195 245 -20.4%

Of these figures, Inventory for Fort Lauderdale Condo Foreclosures was up 7.8% in September from August with a total of 110 properties classified as bank owned (5%).  As compared to January, REO inventory was also up 64.2%.  Closed Sales categorized  as foreclosures remained the same month over month and were up 20% as compared to January.

Condo Short Sales Inventory was down -0.9% in September from August with 321 properties (16%); however, inventory was up 7% as compared to January.  Closed short sales were down -12.5% in September from August and up 21.7% as compared to January.

The Average Price per square foot for a condo in September was $178.00, down -13.7% month over month and down -24.4% as compared to January.


The Average Days on the Market was down -24.3% in September and down -22.9% as compared to January.  Sales Price versus List Price differential ranges from 84% – 91%.


The Average Closed  Sales Price for condominiums in September was $224.00; down -14.8% from previous month and down -19.1% from January.  The Median Sales Price in September was $166.00; down 8.3% from August and down -7.8% as compared to January.


In September, there were 16.1 months of available condo inventory, up 26.7% from previous month and down -5.2% from January.

As we head into the winter season combined with the weak US dollar, I suspect we will see an influx of foreign investors and 2nd home buyers looking to take advantage of attractively priced condominiums on the sand or near the beach that on average are approximately 40-50% less than they were during the boom years.

The graph below illustrates Average Price For Sale and Average Price of Closed Sales from September 2002 to present day.  As you can see, we are basically back to 2003 prices.  I think we may very well be seeing a leveling off.


Fort Lauderdale Waterfront Homes | Market Report – 3rd Quarter 2010

Fort Lauderdale Homes For Sale | Market Report – 3rd Quarter 2010

For more information about Buying  or Selling Fort Lauderdale Condos, contact me today at 954.850.2397.

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September 16, 2010

Lauderdale By Sea Real Estate | Market Report – 2nd Quarter 2010

Filed under: Fort Lauderdale Real Estate News,Lauderdale by the Sea,Market Report,Real Estate News,South Florida Real Estate — Tags: , , , — john sabia @ 6:05 pm

In addition to the Market Reports that I blog for Fort Lauderdale Real Estate, I have decided to dig deeper into the numbers and provide detailed market reports and trends for specific neighborhoods.

As real estate is local, there can be vast differences from one neighborhood versus another as well as significant differences from the larger more general area.

Whether you are buying or selling, understanding market trends will benefit you greatly.

I will attempt to provide these on a quarterly basis.  The first of these quarterly reports is Lauderdale By the Sea area.

Lauderdale By the Sea Real Estate Market Trends

Waterfront homes: From January through June, available waterfront homes for sale in Lauderdale by the Sea has been about 30+ homes for sale.    In June and later months, there has been an increase of available homes for sale.  Closed Sales: 3 homes sold from January thru March.  7 homes sold from April thru June.  Pending Sales: A total of 6 homes went under contract from January thru March and another 6 from April thru June.

Average Price Per Square Foot

Average Days on the market had significantly reduced from almost 2 years to under a year for the first six months. In the same time period, homes have sold from 75% to 90% of List price.

While the average List Price of a home has remained constant, the Average Sales Price has steadily increased.

The Median Price of sold homes has increased steadily over the first 6 months of the year.

Months of Inventory for the first 6 months fluctuated with a significant dip in May.

Lauderdale by the Sea waterfront Foreclosures are not a significant issue.

Waterfront Short Sales in Lauderdale by the Sea are not significant.

Non Waterfront Single Family Homes: Homes for sale in Lauderdale by the sea from January thru June have decreased.  Closed Sales: 6 homes sold from January thru March.  8 homes sold from April thru June.  Pending Sales:12 homes went under contract from January thru March and 5 homes went pending from April thru June.

Average Price Per Square Feet.

The Average time on the Market for a home from January thru May was 4-5 months.  I’m not sure what happened in June.  Homes sold for 90% of the asking price.

The Average List Price has remained consistent for the first 6 months, the Average Sales Price has fluctuated up and down.

Median Sales Price has fluctuated.

Months of Inventory decreased during the first 3 months; however, it has continued to increase significantly since May.

Lauderdale By the Sea Foreclosures are not a significant issue.

Lauderdale by the Sea Short Sales are not a significant issue.

For more information about buying or selling a home in Lauderdale by the Sea, contact me at 954.850.2397.  Buyers can begin their home search by viewing Fort Lauderdale MLS listed properties with photos and detailed brochures.

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source: all reports presented are based on data supplied by the Realtor Association of Greater Fort Lauderdale.  Neither the Association, their members nor their MLSs guarantee or are in anyway responsible for its accuracy.  Data maintained by the Association or their MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

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