Sapphire is a pet-friendly condo complex located on Fort Lauderdale Beach between the blue waters of the Atlantic Ocean and the scenic Intracoastal Waterways at 2821 and 2831 N. Ocean Boulevard. Sapphire consists of two towers (North and South) built in 2009.  The two luminous towers showcase contemporary architecture with accents of blue glass and stainless steel and consist of 86 condo units.  All units include 2 or three bedrooms.

The Developer is Altman Corporation and has developed over 13,000 units through the Eastern United States.  Sapphire’s amenities are created by award-winning Interior Designer Steven G. and features striking finishes.  As you enter into Sapphire, you quickly notice the dramatic lobbies of iced blue walls and timeless architectural elements that rival those of a modern, yet sophisticated beach resort. 

Units feature:

• Private Balconies
• Oversize impact-resistant windows and balcony doors
• Stunning water views
• Washer and dryer in each residence
• Contemporary European-style kitchens with granite counters and stainless steel appliances
• Marble master baths
• Pre-wired for high-speed internet and cable
• Safety senor for sprinklers
• Individual, energy-efficient climate controls

Amenities Include:

• 24-hour Valet
• 24-hour attended lobby and closed circuit TV
• Tropically inspired sun deck with 25-meter pool with spa and private cabanas
• State-of-the-Art Fitness Center with aerobic/yoga studio
• Locker Rooms with steam rooms, sauna and treatment spaces
• Business Center with conference room and high-speed internet access
• Laundry and Dry Cleaning Service available
• Housekeeping service available
• Wine and card room
• Club House with flat-screen TVs and catering kitchen
• Pet Walk Area/Pet-friendly building—Two pets of any size allowed with certain breed restrictions.

Sapphire is the newest Fort Lauderdale Beach condominium and is in a perfect location for you to take advantage of South Florida’s entertainment, dining and shopping areas.  It’s just steps away from the sandy beaches, Las Olas Boulevard, Galleria Mall and Downtown Fort Lauderdale.

Sapphire is also the Winner of the City of Fort Lauderdale Community Appearance Awards Property of the Year and Best Multifamily Highrise 2011.

All  Current Resale Units Available Include:

• 2821 N. Ocean Blvd., #604S—$799,000—2 bedroom/2 bath with den consisting of 1,700 square feet with ocean view.
•  2831 N. Ocean Blvd., #404N—$530,000—2 bedroom/2 bath with den.
•  2821 N. Ocean Blvd., #406S--$465,000—2 bedroom/2 bath with 1,274 square foot.

To  Today, Clear Capital (a leading provider of intelligent valuation solutions for the mortgage and lending industries) released its monthly Home Date Index Market Report, which contains a small degree of pure optimism.

      In 2012, Clear Capital is forecasting U.S. home prices to show continued stabilization with a slight gain of 0.2 percent across all markets. That would put national home prices near levels not seen since 2001.  If this prediction rings true, it would be the first time since 2006 that prices have landed in a positive direction.

      Counting Broward and Miami Dade counties as one metro area, Clear Capital predicts this area is to be among the nation’s five highest-performing metros in terms of price growth this year.  Prices are expected to see a slight upward movement in 2012.

From Clear Capital's year-end report:

The exceptional growth in these (Florida) markets can be a result of several factors, including being hit especially hard in the downturn. While fighting back, they remain significantly off their highs of 2006. Other factors in play in these markets include large increases in the values of their lower priced homes (near double-digits for all markets) when compared to higher priced segments of the market, and a high percentage of all cash transactions (51.8%) when compared to other metros. This indicates a high degree of investor activity as they look for bargains in the region, driving up demand.

“Overall, 2011 was a relatively quiet year for U.S. home prices compared to the last five years,” Alex Villacorta, director of research and analytics at Clear Capital, said in a statement. “With national prices down a little more than two percent for the year and sitting at their lowest point since 2001, our projections show that the current balance the market has found will continue through 2012.

To read the full report, please go to: http://nashvillepost.com/sites/default/files/attachments/66708/2012%2001%20Clear%20Capital%20forecast.pdf

The newest and latest idea from Chairman Bernanke:

"The government should consider helping the nation's vacant, unsold stock of foreclosed properties by supporting initiatives to occupy. Federal Reserve Chairman Ben Bernanke believes that one aspect should be a government support program that allows renters to move into those houses." (Morning Edition--Housing Wire 1/5/12)

The problem with this idea is most of the foreclosure properties ARE unihabitable--in some instances, the banks don't even want to deal with these properties.  The best idea and preventative measure may have been keeping families IN their homes through loan modification programs that really work and/or reductions on their mortgage amounts!  Actually, these two ideas may have been more favorable for the big banks, for government and for the country.

Is this truly too primitive an idea for Chairman Bernanke and the banks to understand?

       Five Real Estate Trends for 2012

1.      Buyers Will Return—In 2011, a lack of consumer confidence in the economy dramatically impacted the housing market.  Many buyers were fearful to purchase any big ticket item.  As 2011 came to an end, consumer confidence began to return and sales increased.  Economic conditions and consumer sentiment will continue to improve during this election year.

2.      Foreclosures Will Increase—The ‘shadow inventory’ of foreclosures will finally hit the market.  Distressed properties sell at discounted prices.  But, remember, big bargains require a lot of work and many buyers are not willing to invest the time and money for discounted properties.  However, they will impact the housing values of the non-distressed homes in the area.

3.  Prices Will Soften—As more foreclosed homes come to market, there will be a slight downward pressure on the values of houses; however, home-price declines may be limited to a 3-5% and 2012 will be the year that prices finally stabilize—setting the stage for small gains in 2013.  More desirable neighborhoods will be the first to stabilize.  In November, 2011, Broward County’s median home price was $195,600—an 18% increase from a year ago!

4.      Short Sales Will Increase—The banks appear to be taking more preventative measures to ease the short sale requirements, which will keep these homes out of the foreclosure process.

5.      Interest Rates Will Remain Low—Until the economy gets back on track, interest rates will remain low. If you have the money or can borrow the money, homes are affordable!

Th  The New Year message is to remain positive.   

  Real Estate Facts & Trends

Home Prices: 

Home prices continue to bounce along the bottom, while 13,780 homes sell each day!

In a recent article in South Florida’s Sun-Sentinel, (authored by Paul Owers), Brad Hunter of Metrostudy recommends we pay attention to this number:  $165,100.  Broward’s median price hasn’t dropped lower than $165,100 in any month in 2011—a possible sign of a market bottom. 

However, JP Morgan expects a continuing price decline--

Homes prices in the U.S. have dropped by nearly one-third in five years.  However, the mantra continues with two key measures suggesting it is time to buy a home:

(1)               The ratio of home prices to rents advocates the financial advantages of  homeownership for buyers.  According to October CoreLogic US Housing and Mortgage Trends, in the last 26 years, homeowners have increased the amount spent on household expenses by 12%, while renters have increased it by 22%.    Capital Economics economists noted that for the first time in 30 years, the median monthly mortgage is about the same, or less than, the median rental payment. 

(2)               Ultra-Low Mortgage Rates—Homes are now more affordable than they’ve been in four decades of data.  The math has shifted in favor of buyers.  However, buyers should shop carefully and make certain they (a) have solid employment; (b) have the down payment (c) good credit history. 

In conjunction with home affordability, mortgage money fuels the housing demand.  And jobs drive real estate demand.  Since the financial collapse on Wall Street, a great deal of the available mortgage money has been removed from the market.  This is the same money—with the exception of much higher underwriting standards—that was thrown at buyers during the boom years.  Today, mortgage money is so restricted that many people cannot obtain financing, which adds to the frustration and poor performance of the housing market.  According to information from Zillow, nearly 30% of people have credit scores that disqualify them from getting a mortgage. 

Shadow Inventory—Yes, that incredible Shadow Inventory—which numbers appears illusive! It’s a term that refers to real estate properties that are either in foreclosure and have not yet been sold or homes that owners are delaying putting on the market until prices improve. Economists insist that the housing industry will not normalize and recover until most of the foreclosures work their way through the system — a process that will likely last several more years. Calculating the size of the shadow market has proven difficult.  Nothing can really accurately inform us how many homeowners are waiting for a stable market before planting a ‘for Sale’ sign in the front yard.

Undoubtedly, short sales and foreclosures will continue to drag home prices down; however, the good news is that the rate of price declines have slowed and the worst must be behind us!  In Florida, according tot the Mortgage Bankers Association, 23.1% of all mortgages statewide are in some form of delinquency or foreclosure.  Roughly, 2 million Florida mortgages were ‘underwater’ or 45%, according to First American Core Logic.

A report from LPS Applied Analytics found that as of September,  56% of Florida’s mortgages in foreclosure are 24 months or more behind if payments, compared with 39% nationwide.  More than half of Florida’s homeowners in foreclosure have not made a mortgage payment in two years or more.  Florida’s courts are still trying to process foreclosures as cases were delayed by last fall’s robo-signing and lack of proper documentation.  This may be one of the reasons why banks are looking at short sales as a faster track to recovery.

 Good News--Low Inventory—(More Good News for Sellers)

2,482 equals the total number of condos and single-family homes

on the market today in Fort Lauderdale, FL.

37% DECREASE since September 2010

 “ Only buy something that

you’d be perfectly happy to hold

 if the market shut down for ten years.”

—Warren Buffett

The median price home in Broward County has not dropped lower than $165,100 in any month in 2011.  Is this a sign....Have we hit bottom?  South Florida's inventory has declined and in some instances, price have more than stablized, prices have increased!  We won't know we've hit bottom, until we are on the way UP!

1200 Club, 1200 N. Fort Lauderdale Beach Boulevard, #101, Fort Lauderdale, FL 33304

$289,000

COMPLEX UNDERGOING TOTAL RENOVATIONS & ALL ASSESSMENTS PAID BY SELLER @ The 1200 Club,a boutique collection of oceanfront condos, nestled between Ft Lauderdale Beach & Birch Park. Enjoy the beachfront splendor from the open & airy 2 bed/2 baths en suite hurricane protected corner unit. Spectacular cherry wood floors greet you, as you open the door to a surprising ocean view--and the beach is just steps away.  The condition is nearly perfect, the price negotiable and the location PRICELESS!

Please see recent "Fort Lauderdale" Facts and Trends Chart below--these graphs and numbers represent ALL properties on the market in Fort Lauderdale. 

NOTE:  Currently in Fort Lauderdale, there are 2510 properties on the market (1,107 single-family homes and 1,403 condos ) OR 6.6 months supply of inventory.  A 6-9 months supply of inventory of homes is considered 'normal.'  Bottom Line:  There's NOT a lot of inventory on the market. 

•  Condos $300,000 and UNDER--Total on Market:  703 OR a 3.9months supply
•  Single-family homes $300,000 and UNDER--Total 533 OR a 4.7 months supply

Facts and Trends TM Published September 2011* Location:   Ft Lauderdale Beach, Ft Lauderdale North East, Ft Lauderdale North West, Ft Lauderdale South East, Ft Lauderdale South West Price Range:   $0 - No Limit SQFT Range:   0 - No Limit Property Types:   All Res. Proptypes - All Properties - All Properties Bedrooms:   0 - No Limit Full Baths:   0 - No Limit Half Baths:   0 - No Limit Year Built:   0 - No Limit

Prepared for you by: Amanda Wilson, Realtor

Number of Homes For Sale vs. Sold vs. Pended (Jun. 2010 - Aug. 2011)

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago   Aug. 11 Jul. 11 % Change Aug. 11 Aug. 10 % Change Jun. 11 to Aug. 11 Jun. 10 to Aug. 10 % Change For Sale 2510 2575 -2.5% 2510 3900 -35.6% 2594 3831 -32.3% Sold 379 376 0.8% 379 372 1.9% 407 405 0.5% Pended 468 471 -0.6% 468 448 4.5% 471 444 6.1%

Average Price per SQFT (Jun. 2010 - Aug. 2011)

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago   Aug. 11 Jul. 11 % Change Aug. 11 Aug. 10 % Change Jun. 11 to Aug. 11 Jun. 10 to Aug. 10 % Change Avg. Sq. Ft. Price 176 163 8.2% 176 176 0% 176 181 -2.6%

Months of Inventory Based on Closed Sales (Jun. 2010 - Aug. 2011)

Curnt vs. Prev Month Curnt vs. Same Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago   Aug. 11 Jul. 11 % Change Aug. 11 Aug. 10 % Change Jun. 11 to Aug. 11 Jun. 10 to Aug. 10 % Change Months of Inventory (Closed Sales) 6.6 6.8 -3.3% 6.6 10.5 -36.8% 6.4 9.5 -32.6%

You may be considering placing your property back on the market. If and when you do, here are a few recommendations you may wish to consider:

 (1)   Make sure that you are hiring a true professional. Some real estate agents will tell you anything you want to hear to get your listing  and then,   stick a sign in the ground;

 (2)   ASK for a copy of the MLS listing and BE SURE to review and approve the MLS listing detail of your property BEFORE  it goes on the market   and before it becomes part of any website.  This information IS the main marketing/promotional material for your home and this information will be syndicated across the internet; therefore, make certain it is correct and appealing!  Time and time again, I have witnessed the same luxury propertygoing back on the market with the same agent and with the same mistakes!

  Check to make certain your MLS listing contains:

•  Pictures—There should be at least 16 pictures (although, there is space for 25 pictures). (A Professional Photographer is recommended!)
• Directions—The listing contains correct directions to property.
• Remarks—The remarks are complete & describes the property.
• Square footage—The inside and lot size sq. ft. are correct.
• Year Built — is correct.

 (3)   Choose a Realtor who will listen to your concerns, one that you feel comfortable with and one who believes service and commitment are essential to a beneficial outcome!  I highly recommend that you interview at least three (3) Realtors.

Did You Know:

• 52% of sales are CASH
• Children from 150 countries compose the Broward School System creating diversity which attracts international buyers
• There are 80 Million Baby Boomers, of which, 4 Million will turn 60 years old for the next 15 years. (76 million American children were born between 1945 and 1964; Baby Boomers control over 80% of personal financial assets and more than 50% of discretionary spending power--They are responsible for more than half of all consumer spending)
• Florida is a Destination Spot—which makes it more desirable.

Single-Family Homes:

Lowest Inventory of Homes:    March, 2005 =        2,234

Highest Inventory of Homes:   April, 2008    =      14,489

                                        Today:                            =        6,329

• Median Price of Homes
• July 2002--$206,000
• July 2005--$394,000
• Today--$193,000   (51% Decline)

•  < $100,000 Homes
• 13% of Inventory
• 23% of Sales

• < $300,000 Homes
• 55% of Inventory
• 73% of Sales

• $300,00 - $999,999 Homes
• 34% of Inventory
• 24% of Sales

• $1,000,000+
• 11% of Inventory
• 3% of Sales

• $3,000,000+
• 3% of Inventory
• 3% of Sales

• REO (Foreclosures)
• 7% of Inventory
• 30% of Sales

• Short Sales
• 29% of Inventory
• 19% of Sales

• NON-Distressed Sales (Normal Sales)
• 64% of Inventory
• 51% of Sales

Condominiums, Townhouses and Coops

            Lowest Inventory of Condos:     August 2004               =             2,531

            Highest Inventory of Condos:    September 2007        =           19,804

                                                      Today:                                            =             7,219

• Median Price of Condos
• July 2002--$97,000
• January 2006--$215,000
• Today--$78,000

• <$100,000
• 43% of Inventory
• 60% of Sales

• <$300,000
• 80% of Inventory
• 93% of Sales

• $300,000 - $999,999
• 17% of Inventory
• 7% of Sales

• $1,000,000+
• 3% of Inventory
• 1% of Sales
•  
• REOs (Foreclosures)
• 6% of Inventory
• 29% of Sales

• Short Sales
• 20% of Inventory
• 21% of Sales

• NON-Distressed Sales (Normal Sales)
• 73% of Inventory
• 50% of Sales