If you live on the east side of Fort Lauderdale, it is certain that you have heard of the new home builder Glenn Wright. Wright is well known for his 2-story "mcmansions" in the Fort Lauderdale neighborhoods of Rio Vista, Victoria Park and Coral Ridge. Wright's grandest project, La Preserve, envisioned to be a luxury gated home community in a natural setting remains unfinished and as the Sun-Sentinel reports; 39 of the 67 homes are in foreclosure.* Wright, a prominent name in home building is facing several lawsuits from angry would-be homeowners, contractors and projects that remain unfinished.* It is reported that Wright's development companies are in the red for more than $100 million. The developer has deeded at least 106 of his company's…
Found 9 blog entries for February 2009.
Rio Vista / Lauderdale Harbors Listing & Sales Activity for January 2009In January, there were 9 new listings for single family homes added to the market for sale in Rio Vista - Lauderdale Harbors. Presently there are a total of 95 homes listed for sale. 13 homes are being sold as Short Sales and 1 Foreclosures for sale. Total inventory shows approximately 4% of homes in Rio Vista / Lauderdale Harbors are listed for sale.
Rio Vista / Lauderdale Harbors Homes Sold in January 2009There were 3 recent home sales in Rio Vista / Lauderdale Harbors in January 2009.
- 1108 N Rio Vista Blvd, 3 bed/2 baths, pool, List Price $895,000. Sold Price $775,000. Selling Price per square foot - $300.00
- 705 SE 9th St (Short sale), 3 bed/2 bath, pool, Listed Price
Victoria Park Listing & Sales Activity - January 20096 single family home listings were added in January. Presently there are 67 homes for sale in Victoria Park. 13 homes are being sold as Short Sales and 2 homes are Foreclosures. Total inventory indicates approximately 2% of homes in Victoria Park are listed for sale.
Victoria Park Homes Sold in January 2009There were 2 homes sold in Victoria Park in January 2009.
- 435 NE 9th Ave, 3 bed/2 baths, List Price $349,900. Sold Price $340,000. Selling Price per square foot - $228.00
- 1645 NE 7th St, 3 bed/1 bath, Listed Price $298,000. Sold Price $265,000. Selling Price per square foot - $209.00.
Victoria Park Pending Sales in January 20091 home went under…
Locally, Fort Lauderdale Home sales rose 42% to 1,764 from 1,244 for same time last year and the median price for a single family home was $234,100 down 32% from $344,000. *
Sales for Fort Lauderdale condos rose 21% to 1,588 from1,309 same time last year. The median price dropped 35% to $107,200 from $166,100.*
Return to Fort Lauderdale Real Estate home page
Coral Ridge Homes Sold in January 2009There were 3 homes sold in Coral Ridge during January 2009.
- 2866 NE 29th Street, waterfront-pool, Listed Price $1,079,000. Sold Price $995,000. Selling price per square foot - $311.91.
- 4771 NE 28th ave, pool home, Listed Price $699,900. Sold Price $590,000. Selling Price per square foot - $233.66.
- 2609 NE 26th Ave, Pool home,
Good news for investors. Fannie Mae has modified their investor guidelines to allow up to 10 financed properties to the same borrower. Previous guidelines allowed financing for only 5 properties and additional property purchases had to be paid for in cash. The modifications to the guidelines come with a stipulation; the borrower has to have money in the bank for reserves.
- When the borrower will own a total of one to four financed properties, the reserve requirements for PITI (Principle, Interest Taxes and Insurance) are:
- Two months reserves if new property is a 2nd home or
- Six months reserves if new property is an investment property and
- Two months reserves on each other financed second home or investment property.
- When the
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.
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…