Fort Lauderdale Real Estate Blog

May 25, 2009

GoFortLauderdaleFlorida.com - New Fort Lauderdale Vacation Site

Filed under: Real Estate News — Tags: , , , , — john sabia @ 2:31 pm

Vacationing in Fort Lauderdale, Florida has just been made easier by the launch of a new website GoFortLauderdaleFlorida.com.

GoFortLauderdaleFlorida.com is a brand new site on the web that promotes all the wonderful amenities that the Fort Lauderdale Area has to offer.  

Accommodations, attractions, restaurants, entertainment and much more are available on this easily navigatable website.

Whether you are looking for a seafood restaurant, five star resort or classical music performance, it’s all there on this wonderful source of area information.

Disclosure - I am featured Realtor on GoFortLauderdaleFlorida.com.  I visited this site and felt it is a great source for anyone visiting the Fort Lauderdale area so I agreed to feature it on my Fort Lauderdale Blog.

Visit GoFortLauderdaleFlorida.com to plan your next get-a-way to fun in the sun.

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March 29, 2009

Las Olas River House | 333 Las Olas Way - Listing & Sales Activity - February 2009

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.

Las Olas River House Inventory | February 2009

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.

Pending & Closed Sales at Las Olas River House | February 2009

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 8, 2009

Las Olas River House | 333 Las Olas Way - Listing & Sales Activity - January 2009

Listing & Sales Activity for Las Olas River House condo report a total of 11 new listings in January for a total of 52 condos for sale (out of 287 total residences); which represents an overall percentage of 18% of Las Olas River House condos are available for sale.

This figure indicates that inventory has reduced significantly; about about a year ago, the figure was closer to 30%.  As of this post, there are presently 54 condos for sale at Las Olas River House.

Las Olas River House | 333 Las Olas Way - Listing Activity for January 2009

 

 

 

 

 

 

 

 

 

 

 

Pending Sales for 333 Las Olas Way, Fort Lauderdale:

1 condo went under contract in January, unit 1007, a Chelsea unit (REO-Foreclosure); Listed price $429,900.  Estimated closing date is February 12th.

Closed Sales for 333 Las Olas Way, Fort Lauderdale

1 condo closed in January, unit 1001, a SoHo (Short Sale).  Listed Price was $590,000.  Closed Sales Price was $400,000 (68% of Listed Price) at $347.52 per square foot.

Las Olas River House | Pending - Closed Sales January 2009

 

 

 

 

 

 

 

 

 

 

 

 I will be updating this information monthly as well as adding statistics for additional condos and neighborhoods in Fort Lauderdale.

Las Olas River House | 333 Las Olas Way Fort LauderdaleThis information is useful whether you are a buyer interested in buying a Las Olas River House condo for sale or a seller considering selling a condo at Las Olas River House.

For more information, contact me today at 954-850-2397.

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

Las Olas River House Listing & Sales Activity - February 2009

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December 11, 2008

Village at Sailboat Bend | For Rent

Village at Sailboat Bend | Fort Lauderdale TownhomeGreat opportunity to rent at the Village at Sailboat Bend community just minutes to everything downtown Fort Lauderdale, Las Olas and beaches.  This 3 bedroom 3 bath 2-story townhome is only 1 of 4 similar townhomes.

This townhouse features a fenced in courtyard, perfect for entertaining, front porch at entry and an open porch off the master bedroom.  Lots of natural light from the many windows, wood flooring throughout, Chef-style gourmet kitchen with granite counters and stainless appliances.

village at sailboat bend townhomeThere are also available condos and townhomes for sale at Village at Sailboat Bend and this community is located in Sailboat Bend, just west of Downtown Fort Lauderdale and east of I-95 and Broward Blvd.

For more information on this rental contact John Sabia at 954-850-2397.

 Return to Fort Lauderdale Real Estate home page

November 25, 2008

Foreclosures | Short Sales - Fort Lauderdale

Fort Lauderdale Real EstateIf you are looking for real estate foreclosures in Fort Lauderdale, Florida and properties offered for sale as short sales, you can search these listings on the Short Sales page and REO Foreclosures page of the Fort Lauderdale Real Estate website.

Both foreclosure properties and short sale properties are sorted by single family and condo/townhomes.

If you are interested in viewing any of these properties, contact me at 954-850-2397.

October 23, 2008

Is it time to Buy Real Estate? Expert Says Yes

Fort Lauderdale Real EstateStatistics released by foreclosure listing service Realty Track report by year end, one-third of all properties for sale nationwide will be sold by banks.

Third Quarter 2008 foreclosure filings were up more than 70% from same time last year.   Almost 766,000 homes received foreclosure notices between July and September.

Approximately 60% of all homes in foreclosure are in Florida, Nevada, Arizona, Ohio and Michigan.  California accounts for 1/4 of all US foreclosures.  The Fort Lauderdale Real Estate market has certainly seen its share of foreclosures and short sales .

Florida ranks 2nd for nationwide foreclosures per the Tampa Bay Business Journal and Fort Lauderdale ranks 5th in the top 100 metropolitan cities with the highest foreclosure rate.

Ohio and Michigan foreclosures can be attributed to the high rate of unemployment and the job crisis related to the auto industry.

Florida, Arizona, Nevada and California foreclosures are attributed to the enormous unsustainable housing appreciation sometimes in excess of 50% per year.

In a FOX News interview with Barry Habib, Chairman of the Board of Mortgage Success Source, Mr. Habib advised “anyone heading into foreclosure may stall the process by asking for proof of payment history when served.  Since the loan may have been sold a few times, asking for proof of payment history may give you some extra time.”

The most important thing to remember is to communicate with your lender.  Banks want to work with you and avoid foreclosure if possible.

When asked if now was a good time to buy real estate, Mr. Habib replied that “this is a great opportunity to buy real estate.  The reason why there are few rich people is because it is hard to do what everyone is saying not to do.”  He went on to say while everyone is saying real estate is bad, advising to stay out of it, perhaps it is the right time to get in.

He added, buyers are in the driving seat, able to buy properties 10-15% or more below market value.  Even if prices come down another 5-10%, so what?  There is plenty of inventory for buyers to choose from.  Since the average person holds on to a home for 14 years, when the market recovers, there is the potential for a great profit.

For more information about buying or selling a home in Fort Lauderdale, or Fort Lauderdale Condos for sale, contact John Sabia at 954-850-2397.

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October 20, 2008

Sarasota Association of Realtors® attacks Marc the Realtor®

A Realtor friend of mine in Sarasota has recently faced an aggressive legal battle launched at him by the Sarasota Association of Realtors®, (SAR) of which he is an active member, because of the use of “mls” in his website address.

The use of “area mls” in a Realtor’s website address was widely recommended in a 2002 article written by “Mr Internet” in a publication by the National Association of Realtor’s® (NAR).

Marc Rasmussen, a Sarasota Real Estate Agent, purchased his website address “thesarasotamls” back in 2003 based largely on the advice he read in the article and when marketing real estate on the internet was in it’s infancy.

Mark continued to spend numerous hours and thousands of dollars over the next 5 years creating and improving what had become the number 1 Sarasota Real Estate website and was rewarded for his efforts by achieving high rankings in the internet search engines.

A recent change in Article 12 of the National Association of Realtors® Code of Ethics, now allows local Realtor® Associations at their sole discretion to determine if their members are permitted to use the term “mls” regardless of how long they have used it and especially with disregard to the recommendation featured in the Mr Internet article.

It should be pointed out that “mls” is not a trademark of any Realtor® Association, instead the trademark for Major League Soccer (MLS). The public has also come to know mls as a common everyday term for real estate property listings.

However, it was prior to this change in the ethics code that the Sarasota Association of Realtors® decided to take legal action against Marc, apparently in an effort to shut his website down. A website that was highly respected for doing what a real estate website should do, provide consumers with real estate information and real estate property listings.

Morgan Carey, the web designer for Marc explains in detail in his blog post Help us Fight the Sarasota Association of Realtors® , the legal action which began with an ethics complaint against Marc filed by SAR (Sarasota Association of Realtors®) for which Marc was cleared of any wrong doing.

This is where I and many others believe SAR® went too far crossing the line. The Association, rather then accept this ruling, continued action against Marc outside the scope of an ethics complaint, in a legal maneuver, brought their argument to the Internet Corporation for Unassigned Names and Numbers (ICANN) - which as you will read below, has nothing to do with ethics.

ICANN mission statement

In a split decision, ICANN ruled in favor of the Sarasota Association of Realtors®.

Marc has filed a lawsuit in Federal court against the Sarasota Association of Realtors® to allow him to maintain control over the old website address (domain name thesarasotamls.com). Marc has already redirected the old address to his new website address.

By allowing Marc to maintain control over the old domain and through the redirect to his new website will preserve the past 5 years of hard work and maintain the authority Marc’s old site had gained and avoid Marc having to start all over again.

There has been an enormous outpouring of support for Marc from fellow Realtors® across the country and a barrage of protests against the Sarasota Association of Realtors® has now put this issue into the lime light. They have an opportunity to do the right thing, bring this to a close and allow Marc to remain in control of the old domain.

If they continue to force Marc to surrender the website address to SAR®, than in my opinion, as shared by many others, this was never about ethics, nor an action to protect the consumer. Rather a contemptuous action far more rooted in taking down a Realtor’s® website possibly because of jealousy or envy.

Read the linked articles, and you decide.

To list your article here, email me or post in comments.

To voice your support for Marc, contact the Sarasota Association of Realtors®

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September 10, 2008

Ease Hurricane Concerns When Buying A Home or Condo | Fort Lauderdale Real Estate

Protect yourself against storm damage by asking the right questions before closing on a home.

For newcomers and locals alike, South Florida offers a treasure trove of gorgeous beaches, beautiful homes and spectacular shopping and dinning opportunities. This time of year, however, the threat of serious property damage from relentless tropical storms and hurricanes are a harsh reality — and enough to make some homeowners question their purchase. Fort Lauderdale Beach

 

But dealing with unfavorable weather in South Florida shouldn’t be a factor that prevents a buyer from purchasing real estate in Fort Lauderdale or elsewhere in the state. In fact, there are plenty of precautions homebuyers can take to protect themselves against the onslaught of brewing trouble in the tropics.

 While Florida building codes go a long way to protect homeowners by requiring reinforced roofs, strong garage doors, impact-resistance glass or window shutters in remodeled homes, it’s important to keep insurance in mind throughout the entire purchasing process.

New homeowners should get replacement coverage to cover property damage and make sure their policy defines exactly what will be covered in the event of a hurricane or serious storm. Most standard home insurance policies cover the damages that hurricane-force wind and lightning causes under the wind and hail portion of the policy. Purchasing flood insurance is also a good idea since the damages from a flood are not covered in a standard homeowner’s insurance policy.

Be sure to carefully examine the home-inspection report before closing and use it as a maintenance checklist. Go through the list and inspect all areas of the home, including bathrooms, laundry room, kitchen, roof, electrical system and plumbing. A lot of small problems can easily be dismissed and overlooked when purchasing a home because buyers become so focused on closing the deal. Being proactive is key.

A knowledgeable Realtor should be able to assist you in finding proper resources, such as a licensed home inspector, that will guide you through the process. Most importantly, don’t be afraid to ask the inspection company questions, such as how long it has been in business and how well your home should hold up in the event of a hurricane or flood.

In terms of homes for sale in Fort Lauderdale and surrounding markets, it’s likely prices will drop in the next several weeks as the state feels the effects of another active hurricane season. Buyers should continue to check with their agents to see what deals are available as many frustrated sellers and anxious lenders are looking to get rid of their bank-owned homes and excess inventory of condos.

In South Florida, hurricane season not only means stocking up on supplies and being prepared, but it also means getting your finances in order in the event a great deal on a new home arises.

For more information about buying or selling your home in Fort Lauderdale, contact John Sabia today at 954-850-2397 or visit the #1 Fort Lauderdale Real Estate website.

 

September 2, 2008

Fort Lauderdale Foreclosures | Opportunities to Buy Below Market Price

Find Affordable Fort Lauderdale-Area Foreclosures

Fort Lauderdale Waterfront Homes

Fort Lauderdale Foreclosures are at an all-time high as well as in other areas in South Florida and nationwide, and they offer the perfect solution for buyers who are interested in purchasing a new home at a cost below market prices. Along with a wide variety of properties, there are several types of foreclosures, including pre-foreclosures also known as “short sales“, bank foreclosures and HUD foreclosures.

When a homeowner is unable to make the payment of the requisite amount in the agreed time period, the property is reposed by the lender and resold in an auction in an effort to recover the amount that was lent.

While many banks and government agencies publish lists of their foreclosed properties, real estate agents can help save buyers money, time and stress when finding and securing a foreclosed home. Realtors can obtain information on foreclosed homes from title companies, lenders and a variety of resources at their disposal.

Realtors can also explain the government auction process and aid potential buyers in the purchase of a government foreclosure home. Quality real estate professionals work closely with banks to sell their foreclosures and put them back in the hands of homeowners. Buyers should chose a Realtor who is very knowledgeable about the neighborhoods they are interested in.

Those interested in purchasing a foreclosed home may also want to check out listings posted online, but beware that many of these Web sites, such as Foreclosure.com, require a small fee. Other Web sites allow buyers to view listings for a short trial period for free. Popular online resources include Hud.org and Realtor.com, and Web sites such as Trulia.com allow buyers to ask questions about foreclosures specific to their city, state or region.

Although challenging, buying a foreclosed property can certainly yield major benefits to homebuyers in search of a bargain. Like many aspects of the real estate world, patience is key. Find a good agent and request a full inspection of the foreclosed home before making a purchase.

While foreclosures can offer great bargains, don’t limit your search for the perfect home. In today’s market, inventory for Fort Lauderdale Homes and Fort Lauderdale Condos is presently at a 20+ month supply without any new homes coming on the market.  Privately held homes are selling below market value and the process is typically shorter than going through the bank.

When buyers go through a bank as oppose to an individual, it can sometimes take a month or two or longer to receive a response to an offer. Short sales are considerably longer.  A good agent should be able to show you a balanced mix of deals on foreclosed and privately held homes.

For more information about buying or selling a foreclosed property in Fort Lauderdale, contact John Sabia today at 954-850-2397 or visit the #1 Fort Lauderdale Real Estate web site.

August 28, 2008

Fort Lauderdale Real Estate | Home & Condo Sales - July 2008

Home and Condo Sales figures for July 2008 - Fort Lauderdale

Listing and Sales Activity in the Fort Lauderdale Real Estate market for July 2008 reports some positive news from last month, but we are headed in the right direction.

Closed Sales for single family homes in Fort Lauderdale were down just 2% while the median price was up 2% from June 2008, however an 18% decrease from July 2007.

Closed Sales for Fort Lauderdale Condos were down 14% over June, while the median sales price was also up 4% from last month. Median price from same time last year is down 16%.

Average Sales price for both property categories were down 4% and 6% respectively over last month and down 19% and 6% from same time last year.

Positive territory for New Listing Inventory reports a decrease of 11% of new properties on the market from last month and down 13% from last year.

Positive news for Total Available Inventory as well with a small decrease of 1% of properties for sale over last month and down 4% from last year.

As you can see, there is plenty room for improvement, however, the sky is not falling as you would be lead to believe by most media reporting. It is crucial to remember that real estate is local, not nationwide or statewide and varies significantly between neighborhood to neighborhood and condominium to condominium.

I learned a long time ago from real estate sales coach Mike Ferry, the secret to selling a home in any real estate market and it remains true to this day is that there are only really 2 questions to ask if you are considering selling your home:

  • Do you absolutely have to sell your home? not want to, not testing the market - Do you absolutely have to sell?
  • Will you price it to sell? not I need, not I want. etc.,
    Will you price it to sell based on market value, market trends and perhaps even below market value taking into consideration, short sales, foreclosures, active listings, pending sales and most importantly closed sales in past 30, 60 and 90 days, not 1 year ago or even 6 months ago.

    If your answer is not yes to both questions, you probably should not be selling your home at this time.

    If you answer yes to both questions, than your next step is to select an agent who understand this.

    All other suggestions and advice for selling a home are only complimented if Price and Motivation are the top 2 key factors in selling a home.

 

For more information about buying or selling residential real estate in Fort Lauderdale, contact John Sabia today at 954-850-2397 and visit the #1 Fort Lauderdale Real Estate web-site.

source: Realtor® Association of Greater Fort Lauderdale

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