The Fort Lauderdale Real Estate market report - September 2009: shows a minimal decrease in closed sales for single family homes and condos as compared to August and a continued decline in inventory for both categories.  REO Bank foreclosures and Fort Lauderdale Short Sales still contribute to the overall number of closed sales.

Single-Family home closings in September were down just 3% as compared to closings in August and 40% from September 2008.  Of the total closings, twenty-nine percent were classified as REO Bank Foreclosures in Fort Lauderdale.

Single-Family Average Sales Price in September slightly increased by 1% over last month and down 22% from same period last year.

Single-Family Median Sales Price in September decreased by 8% over last month and down 23% from September 2008.

Pending Single-Family homes declined 10% over last month; however jumped 39% from same period last year.  Available Single-Family homes inventory decreased in September by 3% as compared to August and down 45% from last year.

The supply of available homes for sale remained the same as compared to August, however down 61% from September 2008.  REO Foreclosures made up 34% of single-family inventory in September.

Closed Sales for Fort Lauderdale Condos and townhomes in September were down just 3% as compared to August and rose 69% from September 2008.  Thirty-one percent of closings were Fort Lauderdale Condo bank foreclosures.

The Condominium Average Sales Price in September was down 4% as compared to last month and down 28% from September 2008.

The Condominium Median Sales Price in September was also down 4% from August and down 37% from same time last year.

Pending closings for Condos/townhomes in September down 7% from previous month and up 116% from September 2008!

Available inventory for condos & townhomes in September was down 5% from last month and down 34% from last year.  Inventory supply for condos and townhouses indicate there are 12 months of supply unchanged from last month however, drastically reduced from 30 months at this time last year.  Of this inventory, 30% is classified as REO Bank condo foreclosures.

The Fort Lauderdale Real Estate market continues to show signs of stabilizing and slowly recovering.  There are rumors of another waive of foreclosures and some pundits have expressed the possibility of another 30% drop in prices for South Florida which I do not think is likely to occur.

First time home-buyers may have good news.  It appears there is a good possibility the first time homebuyer tax credit may be extended into 2010.

For more information about buying or selling real estate in Fort Lauderdale, Florida contact me today at 954-850-2397.

Home Buyers can begin their home search online by searching Fort Lauderdale MLS available property listings for sale including short sales and foreclosures.

Fort Lauderdale Real Estate Market Report - August 2009Return to 

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Clients of mine recently purchased this 3 bedroom condo at Sky Harbour East Condo located in the Harbor Beach area of Fort Lauderdale.

This spacious condo was remodeled and boasts approximately 1,904 square feet of living space with a 30 foot long terrace maximizing stunning views of beach, surf and city views.

Originally listed at $449,000, the Closed Sales Price was $390,000.

Sky Harbour sits along the Port Everglades inlet where one can watch a daily parade of boats of all sizes including cruse ships enter and leave Fort Lauderdale.

Sky Harbour Condo offers residents enjoy luxurious amenities including pool overlooking the inlet, posh club rooms, fitness center and security.

For more information about this property or other Fort Lauderdale condos for sale, please contact me today at 954-850-2397.

View Fort Lauderdale MLS available property listings for sale including homes, condos and townhomes.

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Looking for a great deal?  4901 NE 27th Terrace Lighthouse Point Florida is now listed for sale as a Short Sale priced at $1,375,000.

Originally listed at $1,795,000, This elegant French Chateau style 2-story residence features 4 bedrooms and 4.5 baths, 3 car garage situated on deep water with an invisible edge pool.

Custom designed with Italian state of the art kitchen cabinetry with built in double ovens, microwave, espresso coffee machine and Wolf cook-top.

Magnificent vein cut (24×24) marble flooring adorns the main living areas and Brazilian dark mahogony wood floors in every bedroom.  Top of the line Kholer shower features in the master bath with onyx mosaics throughout.

Seventy-five feet of  deep water dockage with a short cruise to the Atlantic Ocean.

Lighthouse Point Florida is located north of Fort Lauderdale and south of Boca Raton.

For more information on this home or other homes and condos for sale, contact me today at 954-850-2397.

Courtesy of Galleria International Realty

Please Note: Short Sales are subject to third-party Lender Approval with no guarantee of sale being approved at price agreed upon and subject to the owner of record accepting the terms of the short sale. It is also common for short sale properties to receive multiple offers and there is no guarantee of any offer being accepted.

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The Fort Lauderdale Real Estate market report- August 2009 reports positive numbers for closed sales and pending sales for both single family and condominium/ townhomes and a decline in inventory.  Short Sales and bank foreclosures still make up a large percentage of closed sales.

Closed Sales for Single Family homes were up 11% in August as compared to July and up 28% from same time last year.  43% of these sales were classified as REO bank foreclosures in Fort Lauderdale.

The Average Sales Price for Single Family homes in August was down 3% from July and down 29% from August 2008.

The Median Sales Price in August remained the same as July and was down 26% from same period last year.

Pending Sales for Single Family homes were up 12% from last month and up 49% from August 2008.

Available Inventory for Single Family homes decreased 7% in August as compared to July and down 45% from August 2009.  Supply of inventory decreased in August to 8 months from 10 months in July and down 57% from August 2008. Thirty-Five percent of available inventory are classified as either home foreclosures or short sales.

Closed Sales for Fort Lauderdale Condos and townhomes were up 16% in August as compared to July and up 28% from August 2008.  Of these closed sales in August, 54% were classified as Fort Lauderdale condo foreclosures.

The Average Sales Price for Condos in August was up 8% from last month and down 24% from August 2008.

The Median Sales Price remained the same in August as compared to July and down 26% from same period last year.

Pending Condominium Sales were up 16% in August over July and up 83% from August 2008.

Available Inventory for Condos/Townhomes in August were down 5% from July and down 32% from same period last year.  Supply of Condo/Townhome inventory is at 14 months, just up 2 months from July and down 57% from August 2008.

Overall, the real estate market appears to continue to show good signs of recovering.  We have many more months of positive numbers than negative and supply of homes for sale is significantly down from 1st quarter 2009.

Interest rates are still attractive and the first time homebuyer tax credit for first time home buyers is expiring December 1st.  Efforts are underway to extend the tax credit.

For more information about buying or selling residential real estate in Fort Lauderdale, Florida, contact me today at 954-850-2397.

Buyers can begin their home search online by searching Fort Lauderdale MLS available property listings for sale including short sales and foreclosures as well as tips and useful information for buying a home in Fort Lauderdale.

Fort Lauderdale Real Estate Market Report - July 2009

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The  Fort Lauderdale Real Estate Market report for July 2009 shows some slight decreases from last month for total number of closed sales and pending sales for both single family homes for sale in Fort Lauderdale and condos and townhomes for sale in Fort Lauderdale .

Closed Sales for Fort Lauderdale Condos and townhomes were down 4% in July as compared to June, however, closed sales are up 35% from July 2008 numbers.  39% of these closed sales were Condo foreclosures in Fort Lauderdale, up from 34% in June.

The Average sales price for condo/townhomes in July was up 3% from June and down 39% from same time last year.

Median sales price in July was up 4% from June and down 46% from July 2008.

Pending Condominium Sales down 2% in July as compared with June, however, up 147% from July 2008.

Available inventory for condominiums/ townhomes in July was down 3% from June and down 29% from July 2008.  Months of Available inventory in July remained at 14 months and 27% of this number represents Fort Lauderdale condo foreclosures and Fort Lauderdale condo short sales.

Single Family Closed Sales were down just 1% in July as compared to June and up 22% from July 2008.  37% of single family closed sales in July were bank foreclosures in Fort Lauderdale as compared to 29% in June.

Average Sales Price for Single Family homes was down just 4% from the previous month and down 30% from same period last year.  Short Sales and bank foreclosures continue to affect average sales price.

Median Sales Price up 4% in July and down 27% from July 2008.

Pending Sales for homes in July down 11% as compared to June, however up 128% from July 2008.

Available inventory for Single Family homes down 5% in July from June and down 42% from July 2008.  Months of Available inventory for homes remains at 10 months and 35% of this figure represents home foreclosures and home short sales.

Despite the slight declines in July for pending and closed sales, available inventory continues to shrink and overall, the real estate market for the past 6 months has steadily shown signs of a modest rebound.

Interest rates are still relatively low and the tax credit for first time home buyers will end December 1st.

For more information about buying or selling real estate in Fort Lauderdale, Florida; contact me today at 954-850-2397.

Buyers can always begin their search online for homes, condos and townhomes by searching the Fort Lauderdale MLS for available properties for sale including short sales and foreclosures.

Fort Lauderale Real Estate Market Report - June 2009

Fort Lauderdale Real Estate Market Report - August 2009

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The Fort Lauderdale Real Estate market for June 2009 continues to report positive numbers over same period last year, less inventory on the market for sale, however a slight decrease in pending sales and closed sales for Homes for sale in Fort Lauderdale and Condos for sale in Fort Lauderdale.

Single Family Closed sales were down just 3% in June as compared with last month, however, sales were up 21% over same period last year.   29% of homes sold in June were bank foreclosures in Fort Lauderdale as compared to 44% last month.  MLS doesn’t report closings for Fort Lauderdale Short Sales at this time.

The Average Sales Price for single family homes was up 11% over June and down 30% from same time last year.  Fort Lauderdale REO bank foreclosures and Short Sales in Fort Lauderdale continue to contribute to this decline.

Single family median sales price in June was off 17% from last month, and down 29% from June 2008.

Pending Sales for single family homes down 3% over last month, however, rose 88% from June 2008.

Available inventory for single family homes down 5% as compared to last month and down 40% from same period last year.  There is presently 10 months of available inventory, down 51% from June 2008.  40% of this inventory is classified as foreclosures and short sales.

Closed sales for Fort Lauderdale Condos were down 8% in June as compared to the previous month, however, up 22% from June 2008.  34% of these sales were condo foreclosures in Fort Lauderdale as compared to 36% last month.

The average sales price for condos was down 8% over May and down 38% from June 2008.

Median sales price remained the same month over month and down 45% from same time last year.

Pending sales for condos in June were down 5%, however spiked up 96% from June 2008.

Available inventory for condos in June down 3% from May and down 27% from June 2008.  There is presently 14 months of available inventory.  36% of this inventory is classified as condo foreclosures and condo short sales.

While June numbers report slight decreases after 4 straight months of positive trends, I think the overall picture is still good news for the real estate market.

Interest rates are still relatively low and time is running out for the tax credit for first time home buyers.

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

Buyers can begin searching homes and condos for sale by viewing the Fort Lauderdale MLS for available property listings including short sales and foreclosures.

May 2009 Fort Lauderdale Real Estate Market Trend Continues.

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source: Realtor Association of Greater Fort Lauderdale

Nu River Landing - Recent Sale

It took about 4 months, but we successfully closed on Unit 1513 at Nu River Landing.

A 2 bedroom 2 bath, south facing condo recently closed as a Fort Lauderdale Short Sale at $205,000.  The unit originally sold in 2006 at $370,000 representing a 55% reduction.

Nu River Landing Condominium is located on the Nu River in downtown Fort Lauderdale, stands 25 stories and offers resort amenities including roof-top pool and club room, 2-story fitness area with raquetball and half basketball courts, business center, security and onsite managment.

For more information about buying or selling at Nu River Landing or other properties downtown, contact me today at 954-850-2397.

Search the Fort Lauderdale MLS for available properties for sale including Foreclosures in Fort Lauderdale and Short Sales or search Fort Lauderdale Condos by building.

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For the 4th straight month, Home Sales in Fort Lauderdale continue in positive territory.

May 2009 figures report double digit positive percentages for both Single Family Home sales and Condo Sales.

Pending sales for both categories up double digit percentages as well, while total inventory for Single Family and Condo sales continues to shrink.

Closed sales for Single Family Homes for sale in Fort Lauderdale  rose 21% in May from the previous month and were up 65% from this time in 2008.  44% of homes sold in May were Fort Lauderdale Foreclosures.

The Single Family Average Sales Price in May was down 10% from last month and down 32% from last year.  Again, Fort Lauderdale REO Bank Foreclosures and Short Sales in Fort Lauderdale contributed to this decline.

The Single Family Median Sales Price off 15% from April and off 39% from same period last year.

Pending Sales for Single Family homes increased 12% over April and up 107% from same time last year.

Inventory for Single Family homes decreased 7% from previous month and decreased 38% from last year.

Closed sales for Condos in Fort Lauderdale up 21% in May and up 65% from last year.

Average Sales Price in May for condos down 10% over last month and down 32% from same time last year.

Median Sales Price for condos dropped 15% from April and down 39% from same period last year.

Pending Sales for condos in May up 16% over last month and up 112% from last year.

Inventory for Condos decreased 5%  in May and is down 27% from last year.

With 4 straight months of numbers in positive territory for the Fort Lauderdale Real Estate market continues to signal the bottom may have been reached.  There will still be short sales and bank foreclosures for awhile and buyers and investors continue to snatch these properties up.

Interest rates are still relatively low and the tax credit is still attractive for first time buyers.

For more information about buying or selling, contact me at 954-850-2397.

Buyers can begin their home search by viewing the Fort Lauderdale MLS for available property listings for sale including short sales and foreclosures.

April 2009 Fort Lauderdale Real Estate Market Continues Upward Trend

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April 2009 figures for Home Sales in Fort Lauderdale continue for the 3rd straight month with an upward trend.

Both Single family home sales and Condo sales were up double digits in April as well as up double digits for Pending sales in both categories.

Total Inventory for all property types has shrunk.

Closed Sales for Single Family Homes for sale in Fort Lauderdale shot up 29% in April over last month and up 16% from same period last year.

Average Sales Price for a Single Family home was down 7% from March and down 35% from last year.  No doubt Fort Lauderdale short sales and Fort Lauderdale REO Bank foreclosures played a significant part.

The Median Sales Price for a Single-Family home was down 4% from last month and down 30% from same time last year.

Single Family Pending Sales up 29% from March and up 87% from same period last year!

Single Family inventory is down 9% from March and down 33% from April 2008.

Closed Sales for Fort Lauderdale Condos in April were up 24% from March and up 17% from April 2008.

The Condo Average Sales Price was down 14% over last month and down 45% from same time last year.

The Condo Median Sales Price was down 11% from last month and down 45% from April 2008.

Pending Sales for Condos in May were up 26% from last month and up 73% from same period last year.

Condominium Inventory is down 6% from March and down 24% from April 2008.

3 straight months of positive numbers for the Fort Lauderdale Real Estate market has many believing a bottom has been reached.   There are still short sales and bank foreclosures, and this will continue for awhile, however, I am seeing multiple offers more and more with cash buyers becoming very aggressive.  I am also seeing qualified sellers seeking to take advantage of loan remodifications.

First time buyers are taking advantage of low interest rates as well as a possible tax credit.

Contact me today at 954-850-2397 if you are considering buying a home or condo or if you are interested in selling your home.

Buyers can begin the home search process by viewing the Fort Lauderdale MLS for available properties for sale including short sales and REO Bank Owned Foreclosures.

March Home Sales & Pending Sales Continue Upward | Inventory Falls

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March Listing & Sales Activity for 333 Las Olas Way Fort Lauderdale, Las Olas River House show 1 new listing in March which was neither a short sale or REO bank foreclosure.  There were a total of 46 available condos for sale at Las Olas River House in March (18%).

Pending Sales Activity at Las Olas River House in March

There were 2 condos pending in March

• 2905 (Columbus), 2 bed/ 3 baths, Listed Price - $725,999 (short sale)
• 3305 (Columbus), 2 bed/ 3 baths, Listed Price - $599,000 (short sale)

Recent Sales at Las Olas River House in March

There were 2 closed sales at Las Olas River House in March with an Average Sales Price per square foot of $213.00.  Average Days on Market were 51.*

• 1604 (Columbus), 2 bed/ 3 bath, Listed Price - $530,000
• 1007 (Chelsea), 2 bed/ 2.5 bath, Listed Price - $429,900

Year to Date Average Sales Price - $566,000

Year to Date Median Sales Price - $490,000

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

Las Olas River House Listing & Sales Activity - February 2009

Recent Statistics for Property Values for Fort Lauderdale homes and condos.

Search Fort Lauderdale MLS available property listings for sale including Fort Lauderdale short sales and Fort Lauderdale REO Bank Foreclosures.

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