Fort Lauderdale Real Estate Blog

Looking for Something to Do this weekend?

Las Olas Art Festival

The free annual Las Olas Art Festival is back this weekend! Enjoy walking up and down Las Olas Blvd viewing art exhibits and treasures to take home from some of the best artists. The Las Olas Art Festival is ranked in the top 100 in the nation and boasts over 20,000 visitors.

THe festival starts Saturday, October 19th at 10am and runs straight thru to Sunday evening. Admission is free. Click here for more details

Las Olas Art Festival - Fort Lauderdale | www.johnsabia.com/blog

 Imperial Point Fall Harvest Picnic

Bring your family and friends and get ready for live music, food and other fun events at the Imperial POint Fall Harvest Picnic at Dottie Mancini Park on Saturday, October 19th from 11am - 2pm. This event continues to be a crowd

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Forest Ridge | Davie Florida

We just closed on this 4 bedroom 2 bath home in the Forest Ridge neighborhood in Davie, Florida. Forest Ridge is a planned development of more than 1,200 homes ranging from dry lot with or without a pool, lakefront homes and homes overlooking the Pine Island Ridge, which is a 100+ acre Wildlife natural habitat.

Forest Ridge is ideally located off Pine Island Road and is close to all major highways. No matter which way you commute, it's only a few minutes from the community.

This home was originally listed for sale at $485,000 and went under contract almost immediately. However, the contract fell thru and a 2nd contract fell thru as well. It went under contract a 3rd time, and finally the house closed at

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Lauderdale By The Sea Real Estate Market Update

Single Family Market Update: July's numbers show there were 6 closed Sales for single family homes for sale in Lauderdale By The Sea. The median sales price was $525,000 and the average sales price was $797,333. Sales volume totaled $4,784,000 for the monthy of July. The percentage of sales price as compared to original list price was 85.7%. The median time to contract was 118 days.

Pending Sales for single-family homes in July totaled 6. During the month, there were 6 new listings added to the total inventory of 22 homes for sale, with 4.5 months of inventory which indicates it's still a seller's market.

Condo-townhouse Market: During the month of July, there were 17 closed sales for townhouses and

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Oakland Park Real Estate Market update

Single Family Market Update: During the month of July, there were 29 closed sales for single family homes for sale in Oakland Park. The median sales price was $300,000 while the average sales price came in at $338,807. The total dollar sales volume for the month of Juy was $9,825,400. The percentage of sales price as compared to the original list price was 92.6%. The median time to contract (the middle number of days from listing to contract las month was 71.

Pending Sales for single-family homes in July totaled 21. Last month there were 30 new listings added to the total inventory of 94 homes for sale. Months of inventory came in at 3.4 - which is a real estate market tilted towards sellers (six months is

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Fort Lauderdale Real Estate Market Update

Single Family Market Update: For the month of July, there were 143 cosed sales for single-family homes in Fort Lauderdale. The median sales Price was $397,000 while the average sales price was $769,364. Total dollar Sales volume for the month of July was $110,018,985. The percentage of sales price as compared to the original list price was 91.9%. The median time to contract (middle number of days from listing to contract) In July was 97 days. 

Pending sales during the month totaled 131. During the same time, there were 174 new home listings with a total single family inventory of 679. Months of inventory was at 5.7 months (six months is considered a balanced market).

Condo-Townhouse Market Update: In July

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info graphic about home ownership - www.johnsabia.com/blog

Bullet Points:

  • "Millennials" as defined by the US Census Bureau, are persons 18 - 36 years of age.
  • The median age of all first-time home buyers according to the NAR's latest Profile of Home Buyers & Sellers is 32.
  • Older Millennials (25 - 36) are realizing that owning their own home is well within their reach now!

Start Your Fort lauderdale search here:

 

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photo of man at desk - www.johnsabia.com/blog

Owning A Home Is A Good Financial Investment

In a recently released 2019 Survey of Consumer Expectations Housing Survey by The Federal Reserve Bank (The Fed), 65 percent of Americans hold the belief that home-ownership is a good, solid financial investment for increasing net worth. The percentage of folks holding this belief increased by over nine percent since 2014.

 photo of graph - www.johnsabia.com/blog

Diving deeper into the survey looking at age, education, income and area of the country, the survey found more than 55 percent of folks in each category view owing a home as a good investment.

Interestingly, the results of this survey compare with a recent Gallup survey, which showed that real estate was considered the top choice for the best long-term investment when

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photo of house - www.johnsabia.com/blog

Four Tips to Sell Quickly

Inventory of homes for sale has increased month over month since June of last year. And, typically every spring and summer we see an inventory increase because people want to sell their home, sometimes due to being in a new home for the beginning of the school year. 

If you are considering selling, these 4 tips may help you find a home buyer quickly:

1. Make buyers comfortable and feel like they are home

De-clutter! remove and pack all personal items like photos, awards, and items of sentiment. Remove you from the house and allow buyers to envision themselves living in the home. As reported in the Profile of Home Staging by the National Association of Realtors®, "83% of buyers' agents said staging a home made it

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photo to own instead of rent - www.johnsabia.com/blog

Home ownership offers tremendous financial advantages.

A research paper Homeownership and the American Dream, by Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained:

"Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built in 'default' savings with mortgage amortization and nominally fixed payments, and the potential to lower home maintenance costs through sweat equity."

5 Significant financial advantages of owing a home

1. Housing is typically the one leveraged investment available

Owning a home allows for amplification of any appreciation on the home value by a leverage factor. A

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