It may be the best time to buy that vacation home you’ve dreamed about for so long. That’s what The Wall Street Journal writes today:
Read the article here.
(Via The Wall Street Journal.)
Tag Archives: florida real estate
Fort Lauderdale’s little secret: Condo market is quite healthy
I can attest to this fact: the condo market in Fort Lauderdale is healthy. This morning we have 9,666 condos in inventory. It is down from a few months ago when we had over 12,000 units for sale. Here’s some parts of this article published today in The Miami Herald:
Fort Lauderdale’s little secret: Condo market is quite healthy
Downtown Fort Lauderdale and the Beach have a healthy little condo secret that few people seem to realize: Inventory is limited. Unlike the well-documented condo oversupply in Greater Downtown Miami where developers still have nearly 3,600 unsold units out of the 22,250 units created during the real estate boom, the Downtown Fort Lauderdale and the beach market has virtually no remaining new condos available for purchase.
Of the 5,100 units created since 2003 in downtown Fort Lauderdale and the beach, only 160 new units remained unsold at the end of 2010. This unsold new condo total does not include the 298-unit condo-hotel project formerly known as the Trump International Hotel & Tower on Fort Lauderdale Beach Boulevard that has yet to begin sales.
A significant chunk of the remaining available units built during the boom era were sold in February when a bulk buyer acquired 68 units in the Village East condominium complex near the 17th Street Causeway just east of Federal Highway.
This relatively low number of unsold developer condo units is remarkable for an area bordered from Sunrise Boulevard south to State Road 84/Southeast 24th Street, and the Atlantic Ocean west to Northwest 7th/Southwest 4th avenues.
Read more about Fort Lauderdale’s little secret.
(Via The Miami Herald.)
South Florida home sales rise in February
Could this signal the end or near the end of the crisis? I sure hope so. Recent statistics show that foreigners purchased about 36% of the properties in South Florida. Of those Canadians represent about 10% on the Southeast Coast. I think these are good news.
The problem though is still banks who are holding back their approvals of short sales. Or, as in the case of this buyer of a short sale of Bank of America, who had the scare of his life, the repossession of their newly acquired property. His agent explains why, below on YouTube. I never was a fan of Bank of America and that takes the point home. The right hand has no idea what the other hand does.
Now for the Sun-Sentinel article, click here to read the good news in South Florida.
(Via Sun-Sentinel.)
A new year, new projects, and straight facts about the real estate in Florida
Dear readers,
The new year has just begun and already it looks like it will be much better than the previous one, even in real estate. That’s why we want to share with you what we are doing to help you in your search for a property in the Fort Lauderdale area and especially how to get the straight facts about real estate in Florida.
First Pierrette and I are now working together for the same broker, Charles Rutenberg Realty, a national firm with more than 5,000 agents. We also use a new email address, Arcand.Feuilletensuring that you receive a quick response from one or the other.
Caught by mistake in foreclosure web
Here’s another sad story about foreclosures and the mess banks brought upon us. Read it here.
(Via Yahoo News.)
PNC Owns Empty House, Buyer Sits in Motel as Foreclosure Mess Halts Sales – Bloomberg
Yet another example of a buyer of a foreclosed real estate property who lives in a motel because of the banks mess. That’s why I was always reluctant to get involved in these deals because even God does not know what will happen with greedy corporations.
Read the complete story here PNC Owns Empty House, Buyer Sits in Motel as Foreclosure Mess Halts Sales.
(Via Bloomberg News.)
