Fort Lauderdale Real Estate Blog

South Florida Luxury Properties For Sale

South Florida is home to some of the most coveted luxury real estate in the world boasting the finest palatial oceanfront penthouses to magnificent waterfront and golf course estates.  With a tropical climate year round, South Florida attracts the who's who in affluent circles. This week's top luxury properties:

Broward County:

  • $139,000,000 - Beach home in Hillsboro Beach
  • $ 32,000,000 - Waterfront home in Fort Lauderdale
  • $ 17,000,000 - Ocean front Penthouse in Hollywood, Florida

Dade County:

  • $67,000,000 - Waterfront home in Miami Florida
  • $41,800,000 - Ocean front condo in Miami Beach

Palm Beach County:

  • $84,000,000 - New Construction in Palm Beach County
  • $11,000,000 -
7 Views, 0 Comments.

90% Of Markets More Affordable Than Historic Average

RealtyTrac and Down Payment Resource released a new report looking at affordability, median income, median home price and down payment assistance programs in 370 U.S. Counties where the population is at least 100,000. Each county was ranked based on its affordability and accessibility for low down payment buyers, such as first-time home buyers.The findings show 90 percent of the included counties were more affordable in April 2015 than their historic averages.

Daren Blomquist, vice president at RealtyTrac, said there are opportunities for buyers in most local housing markets across the country. “This analysis demonstrates that low down payment borrowers can find affordable housing and good

34 Views, 0 Comments.

Miami Luxury Real Estate Scores High Median Sales Prices

The Median Sales Price for Miami Luxury Real Estate increased greatly in first Quarter 2015 as compared to same period last year. The Median Sales Price for residential homes priced in excess of 1 million was $1.7 Million; which represents an increase of more than 6 percent as compared to January - March 2014, where the median price was $1.6 million. Luxury Miami Condos also saw a 13.3% increase in the Median Sales Price of $1.7 million, versus just 1.5 million during the same quarter last year.

Miami was recently ranked 7th (out of 10) most important global cities that matter to the wealthy according to the latest Knight Frank Wealth Report. with New York City ranking #1. 

With warm

48 Views, 0 Comments.

Mortgage Rates Rise Again After Fall

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates increased last week after falling the week before. Mortgage rate increases were seen across all loan categories including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages.

The rate increase caused a drop in demand for mortgage loans, with both the refinance and purchase index falling from one-week earlier. Refinance activity, which is most sensitive to rate fluctuations, fell 5 percent, while purchase activity was down 4 percent.

Despite the drop, however, demand for loans to buy homes for sale and

55 Views, 0 Comments.

Local Markets Gaining Strength

Freddie Mac's Multi-Indicator Market Index looks at the market for single-family homes in the top 100 metro areas and all 50 states. By reviewing and comparing current data in each market to its long-term stable range, the index reveals the strength or weakness of local housing real estate markets across the nation.

According to the most recent results, just over half of all states are now in their stable range and 43 of 50 are showing an improving trend over the past three months. The news is further proof that real estate markets across the country are gaining strength. “We saw a significant improvement in housing markets nationwide, with ten more metro areas and nine more states moving within range of their

44 Views, 0 Comments.

9 Million Renovation Underway at Ritz Carlton

photo of view from Ritz Carlton looking southThe Ritz Carlton Fort Lauderdale Condo-Hotel beach side will be undergoing extensive renovations to the tune of 9 Million Dollars enhancing the lobby, an overhaul of the spa area and premier restaurant and the addition of new boutique shopping stores.

Renovations have already begun as of June 15th of this year and all phases are scheduled to be completed by the end of this year according to a hotel spokesperson. While construction is underway, the resort will remain open.

A quick view of renovations:

  • Lobby: Centered on Entertainment and more interactive.
  • Retail: Island Co., retail clothing for men and women.  Memories, a gift boutique.
  • Restaurants: The existing Via Luna will be refreshed
44 Views, 0 Comments.

Home Sales May Have Best Year Since Downturn

It can be confusing at times to the average home buyer or seller trying to gauge the health of the real estate market . After all, there's a seemingly endless supply of data, reports, and surveys and all of them measure a different aspect of the housing industry – whether it's home sales, housing starts, or real estate prices. However, when the vast majority show improvement, it's a positive indication that things are headed in the right direction.

The latest positive indicator is the National Association of Realtors'® Pending Home Sales Index. The index – which measures the number of contracts to buy homes or condos for sale signed during the month – rose for the fifth straight month and reached its

48 Views, 0 Comments.

New Home Sales Up!

Recent housing data has given potential home buyers and sellers plenty of reason to feel encouraged, with many industry analysts forecasting a good summer season following strong spring gains. Now, according to new estimates from the U.S. Census Bureau and the Department of Housing and Urban Development, sales of newly built, single-family homes have added to the optimistic news.

In fact, new home sales beat economists' expectations in May, rising 2.2 percent above April's revised rate and 19.5 percent above last year. The improvement brought new home sales to their highest level since February 2008. Combined with the recent spike in sales of previously owned homes, the data is another sign that the housing market's rebound is

70 Views, 0 Comments.

Home Sales Up In May

In May of this year, sales of previously owned homes increased 5.1 percent and are presently 9.2 percent higher than they were for the same period last year, according to new estimates released by the National Association of Realtors®. Lawrence Yun, chief economist for NAR, says home sales are now at their highest pace since November 2009. “Solid sales gains were seen throughout the country in May as more homeowners listed their homes for sale and therefore provided greater choices for buyers,” Yun said.

As the numbers indicate, the total number of homes available for sale across the country increased 3.2 percent in May, which should help moderate price increases and provide better purchase opportunities for buyers in the

73 Views, 0 Comments.

Mortgage Rates Fall After Consecutive Increases

Average mortgage rates were down this past week after increasing over the previous two weeks, according to the Mortgage Bankers Association's Weekly Application's Survey. Mortgage rates for all loan categories fell, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans.

As a result of the drop in rates, there was a modest boost in both purchase and refinance activity. In fact, activity for refinancing was up 2 percent from the previous week and demand for purchase was up 1 percent.

On an unadjusted basis, demand for loans to buy homes for sale and condos for sale is now 18 percent higher than it

69 Views, 0 Comments.