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Thanksgiving

With Thanksgiving right around the corner and this being the time of year that many are visiting South Florida for the Holidays and the Season, I thought it would be a great idea to make a list of Restaurants in Ft. Lauderdale that will be open for Thanksgiving (of course, this list could also come in handy for locals who just prefer to Dine out instead of Cooking).  In addition to Ft. Lauderdale Restaurants, there are also Restaurants in the nearby Cities of Lauderdale by the Sea, Pompano Beach, Davie, Dania Beach, Deerfield Beach, and Pembroke Pines that are included. I found 20 Restaurants that will be open and serving delicious Thanksgiving Dinners.  View the list here and enjoy :)

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
South Florida Homes for Sale
Ft. Lauderdale Waterfront Homes

South Florida Real Estate Blog

 

Waterfront Condo Foreclosures in Broward County

I reviewed the new listings of Bank Owned Waterfront Condo listings and selected those that represent a great value based on their Water views, below market prices, location, and condition.   Click here to view them

They are located in Ft. Lauderdale, Hallandale, Pompano Beach, and Hollywood in the following Buildings:

Featured Foreclosure Listing

Diplomat Oceanfront Residences Foreclosure

Diplomat Oceanfront Residences in Hollywood, FL, a direct Oceanfront Building on the Beach

  • 2 Bedroom, 2.5 Bath Condo on the 10th Floor with beautiful Ocean and Intracoastal views
  • Listed for $510,000, currently the lowest priced listing in the Building
  • 2,267 Square Feet of Living Area and 322 Square Feet of Balconies
  • Private Elevator Entry directly into the Unit
  • 2 Garage Parking Spaces
  • Monthly Maintenance Fee of $1,571
  • Amenities include a Fitness Center, Sauna, Heated Pool, Valet, 24-hr. Security, Theatre Room, Concierge and access to additional Amenities at the Westin Diplomat Resort, including 6 Restaurants, 40,000 Square Foot Spa, Reception Rooms, Business Center, and more!
  • 28-Story Building with 135 total Units and only 6 Units per Floor

View the selected Waterfront Foreclosure listings.

Related information:

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
South Florida Homes for Sale
Ft. Lauderdale Waterfront Homes

South Florida Real Estate Blog

 

Las Olas area Condos remain in high demand and I frequently work with them.  I gathered data about the Sales for the first 6 months of 2010 (January 1, 2010 - June 30, 2010) in Las Olas River House, Symphony, Nu River Landing, Waverly, Watergarden, Las Olas Grand, and 350 Las Olas Place and included it in the Table below.

Las Olas Condos sold in 2010 

The numbers clearly show that Market conditions vary significantly in various Buildings and I included some important notes below.

  1. On average, around 10% of the Units in these Buildings are listed for sale and 10% IS NOT considered to be excessive.   When reviewing information about the number of active listings in a Building, you must consider the total number of Units in the Building as well.  I often hear things like: "Why are there so many listings in the Building?" or "I heard we shouldn't buy in Building X because everything is for Sale" when, in reality, the number of active listings is small in comparison to the total number of listings in the Building
  2. Of 110 Units purchased in the 7 Buildings, 83 are indicated to have been Cash purchases, as is typical in the current market.

  3. There's a widespread misconception that if a Unit isn't a Short Sale,  then the Owner is trying to sell it for what they paid for it and that it's not a good deal.  When a property is listed as a Short Sale, it means that the Owner wants the Lender who Financed their purchase of the property to take a loss on the Loan and let a new Buyer purchase the property for today's market value or slightly less, instead of the higher price that was paid several years ago.    Properties that are listed as Short Sales require Bank approval of the purchase terms and price. View additional information about Short Sales here.
      
    Just because a property wasn't sold as a Short Sale doesn't mean that the Owner didn't take a loss and sell it for less than what they paid for it.   The vast majority of properties that were purchased during peak market prices are sold for less than their previous purchase prices and are sold for today's market values or slightly below.  The difference is that there are Sellers who are financially capable of personally taking the loss instead of asking their Lender to do so (that means they are personally paying the Lender for the shortage at the time of Closing because they don't want to ruin their Credit by doing a Short Sale) OR they paid Cash for the property and there isn't a Loan at all OR there's a Loan on the property, but the down payment was large.  This is typical in higher purchase price ranges and Buildings and Communities where many high net worth individuals reside.   

     

  4. With all properties, when comparing previous purchase prices to current purchase prices, you need to consider the Property's condition at the time of previous purchase to its' current condition.  I'm referring to cases where properties have been significantly changed and/or improved since the time of purchase.   An example of this is Sellers in today's market who purchased Decorator ready Units during the peak of the market (Decorator Ready Units are unfinished Units that require installation of Flooring, Light Fixtures, Molding, etc.) Such was the case in Las Olas River House and a number of other Buildings.   So, let's say that Mr. and Mrs. Smith purchased Unit 1234 in Las Olas River House for $500,000 and then spent $300,000  for various finishing and customization of the Unit.  Their cost for the Unit is now at $800,000 instead of the $500,000 purchase price, so if they're selling today for $600,000, they're losing $200,000.  I've had Buyers say to me:  "I looked at Property Tax Records and Mr. and Mrs. Smith paid $500,000 in 2005, now they're trying to rip us off by selling for $100,000 more than they paid" (they felt that way because they were mis-informed and didn't understand that they weren't comparing "Apples to Apples".)   

    This issue also potentially decreases the number of Short Sales in the Building because if Mr. and Mrs. Smith obtained a Mortgage for $400,000 to purchase their $500,000 Condo, they can sell at today's market prices without the necessity of  doing a Short Sale through their Lender even though they're selling at a Loss (since the money paid to finish the Unit was from their personal Funds and not related to the Mortgage).  

    All sides of an issue must be considered in order to gain accurate understanding. 

     

  5. Additional issues that impact the number of Short Sales and Foreclosures in a Building include, but aren't limited to:
    >The number of Investors who purchased
    >The financial health of the Owners
    >The number of Financed purchases and Adjustable Rate Mortgages
    >Purchase dates and purchase prices for the majority of the Owners

Related Information:

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale
Ft. Lauderdale Waterfront Homes

South Florida Real Estate Blog

 

 

Coconut Grove Oceanfront Condo

I recently blogged about Ft. Lauderdale Oceanfront Condo steals and included Coconut Grove Residences as one of those.  Well, Coconut Grove Condo has just become an even better deal and is the only DIRECT OCEANFRONT Building of the steals previously highlighted.   The Developer just decided to Auction the remaining 21 Developer owned Units and is offering them at starting Bid prices that reflect up to a 57% discount off of the most recent asking prices, which were already significantly discounted below the original asking prices. 

The Auction will be held on February 28, 2010 in Ft. Lauderdale.  

The available Units are:

  • Eight 1-Bedroom Units
  • Ten 2-Bedroom Units
  • Three 3-Bedroom Units

Their Starting Bid price range is $260,000 - $1,700,000, which are prices that are significantly below CURRENT market value for similar properties.

To date, Broward Property Tax Records indicate that 43 Coconut Grove Residences have been purchased with a purchase price range of $450,000 - $10,500,000.  The most recent purchase recorded was Unit #506, purchased on January 15, 2010 for $650,000. 

This is Ft. Lauderdale's first Luxury Condo Auction offered to the Public and the opportunity is unique because there aren't any other direct Oceanfront Buildings, ON THE SAND, in Ft. Lauderdale that have new Units available for purchase.  Coconut Grove is Ft. Lauderdale's newest direct Oceanfront Condo and will most likely be the last built for quite a while, due to City Ordinances and the lack of availability of Oceanfront property for Construction.

Unlike several other Cities in Florida, Ft. Lauderdale doesn't have similar high inventory levels of new Condos. Demand for new Oceanfront Condos that are this deeply discounted significantly exceeds supply, so I think that the 21 Units will probably be purchased quickly.

If you're local and would like to schedule an appointment to view Units and participate in the Auction OR if you're not local, but would like to Bid on 1 or more Units, contact me for details.

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale
South Florida Real Estate Blog

 

 

 

The Plaza at Oceanside Pompano Beach Condo

South Florida Oceanfront Condo Steals in Ft. Lauderdale and Pompano Beach

The following 4 Oceanfront Condos in South Florida, located in Ft. Lauderdale and Pompano Beach are the ones that have been most deeply discounted (up to 65% off) of the new Waterfront Condo Buildings in Broward County and represent SIGNIFICANT savings for Buyers in the current market. 

In the Ft. Lauderdale area and elsewhere in the Broward County area, we didn't have nearly as much new Construction of Condos during the Boom or after as was experienced in the Miami area, however, we do have a few new Buildings and I've watched them closely to see how their Sales were progressing. 

In recent posts, I provided detailed information about the Closings that have occurred in 3 of the following Buildings and provided links for you to view the information again below. 

This weekend, I again visited Sapphire and Oceanside with interested Buyers.  Sales are progressing well and have increased SIGNIFICANTLY since the discounts.

In a nutshell:

If you're unfamiliar with prices and the market OR if you're a skeptic OR if you suffer from "Analysis Paralysis" and don't think these are extremely low prices, you should know that there are MANY Waterfront Condos (not even Oceanfront) in older Buildings with fewer Amenities that are currently valued in this price range and are being purchased in this price range IN THE CURRENT MARKET.

If you said 3 years ago, or 1 year ago, or even earlier this year, that you were waiting to Buy when prices were discounted 50% for NEW Waterfront Condos, then this is your opportunity. 

Though these are not Bank Owned Foreclosures, they represent truly amazing deals and the prices are the type of prices that you see in the current market for Bank Owned Foreclosures in Luxury Condo Buildings.

If you're interested in Waterfront Condos or those that offer Ocean and/or Intracoastal views, in NEW Buildings, with Luxury Amenities, all 4 of these Buildings would be great to add to your list of Condos to consider. 

Related Information:

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale
South Florida Real Estate Blog

 

 

It's that time of year again! The Winterfest Boat Parade, sponsored by The Seminole Hard Rock Hotel and many other Companies, will be held this Saturday, December 12th. The Parade covers a 12-mile Route of the Intracoastal Waterway and the New River. From Yachts to small Boats, the Holiday Decorations are fabulous. The Boat Parade will begin at 6 p.m. (official starting point is the Riverside Hotel) and more than 100 Boats will be participating.

"The Parade encompasses the entire length of Fort Lauderdale, Florida in Broward County. Spectators can view the parade for free in public areas, purchase Grandstand tickets or enjoy the parade at a private party in their home or aboard a multi-million dollar Yacht. The International Festival and Events Association has named Winterfest the top 20th Parade in the World; with over 50,000 parades in the United States alone, this is a huge international honor. This places Winterfest in the prestigious company of the Macy’s, Mardi Gras, Rose Bowl and Disney Parades."

To view event details and purchase Tickets, click here.

For an early evening Boat Parade Celebration and a different location to watch the Boat Parade, spend some time at River Rock 2009. River Rock 2009 is sponsored by Big Brothers Big Sisters of Broward County, Ft. Lauderdale Downtown Development Authority, Waste Management, Michelob Ultra, Sixth Star Entertainment and Marketing, Majic 102.7, Architectural Alliance, Bentley Forbes, Botek Thurlow Engineering, Inc., and scg & Associates. I'm a Big Sister with Big Brothers Big Sisters of Broward and will be volunteering at the Event.

View event details below:

What: A family-friendly Boat parade Celebration featuring a FREE Concert with The Brass Evolution, FREE Children's Activities, Food, and Drinks.

Where: H. Wayne Huizenga Park/DDA Plaza (Southeast Corner of Las Olas and Andrews Avenue, Ft. Lauderdale, FL

When: December 12, 2009, 6:00 p.m. - 10:00 p.m. (Concert begins at 8:00 p.m. after watching the Winterfest Boat Parade) Hope to see you there :)

 

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale
South Florida Real Estate Blog

 

Pompano Beach Waterfront Townhouse Foreclosure

Bank owned Foreclosure deal that represents a great buying opportunity in the current market!  Located near Ft. Lauderdale, these Pompano Beach Waterfront Townhouses are located on an Ocean Access Canal near the Intracoastal within walking distance of the Beach and Ocean (.4 miles from the Ocean).  11 Townhouses are available and their price range is $478,788 - $848,788.  Except for 1 Townhouse, each one has its' own Boat Slip, which is a significant benefit!  I viewed the property with several interested Buyers and shot pictures while there.  View pictures and full property details here .

Related post:  Hillsboro Beach Intracoastal Waterfront Townhouse Foreclosure

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale

 

 900 Hillsboro Mile

Located on beautiful Hillsboro Mile in Hillsboro Beach, Florida at 900 Hillsboro Mile, these Bank Owned Foreclosures were just listed for sale and I previewed them yesterday for Buyers I'm working with who are interested in this type of property.  I was excited about viewing them because I'm familiar with the location and know it's great!

The properties are 3 Mediterranean Style Luxury Townhouses located directly on the Intracoastal Waterway, across from the Atlantic Ocean and right past the Intracoastal Bridge on the Hillsboro Mile when heading East.   Hillsboro Club, an Oceanfront Members Only Club is located across the Street from the Townhouses, 900 Hillsboro Mile.

Hillsboro Beach is conveniently close to Ft. Lauderdale, located 15 minutes North of Ft. Lauderdale.

900 Hillsboro Mile (the address and name of the Complex) includes a total of four 3-Story Townhouses that were built in 2006.   Only 1 of the Townhouses was purchased after Construction, Townhouse #1, which was purchased for $2,100,000 in 2007.  Of the 4 Townhouses,  #1 has the largest exterior and interior size.  Townhouses 2, 3, and 4 are the ones that are listed for Sale and they have never been lived in.

There are beautiful, expansive views of the Intracoastal Waterway from several Rooms inside of the Townhouses and Atlantic Ocean views from the Rooftop.

The Townhouse features include:

  • Beautiful Intracoastal views from the Master Bedroom, which includes a Balcony overlooking the Intracoastal (I viewed all 3 Units and Unit #3 has the largest Master Bedroom and the best Water views)
  • 2 Walk-in Closets in the Master Bedroom
  • Roman Tubs and Dual Vanities
  • 3 Balconies on the back and side of each Townhouse and 2 on the Front
  • 2-Car Garage for each Townhouse
  • Key coded Gated Entry
  • Saturnia Marble Floors
  • Very spacious Living Room with beautiful Water views
  • Laundry Room
  • Spacious Entertainment Room and Wet Bar on the 1st Level (see pics of the Entertainment Rooms from 2 of the Townhouses)
  • Stairs and Elevators
  • 2 Water Heaters
  • 3 A/C Zones
  • Central Vacuum system
  • Subzero Refrigerators (2 of the Townhouses have 2 Refrigerators in the Kitchen and 1 has 1 Refrigerator)
  • Granite Counter Tops in the Kitchen
  • Crown Molding
  • Tray Ceilings

The 3 Townhouses range in size from 3,984 square feet - 4,907 square feet.  There are 3-4 Bedrooms and 3-4 Baths. Each Residence has a different Floor Plan and different features throughout. Their price range is $1,200,000 - $1,450,000, which are prices that are below current market value for similar properties (there are Townhouses on Ocean access Canals that are currently selling for these prices).   The properties that are in closest proximity to 900 Hillsboro Mile are Single Family Oceanfront Homes.  The ONLY Single Family Homes in Hillsboro Beach are Oceanfront Homes and their average price range is $6,000,000 - $40,000,000 (the lowest priced Homes are sold primarily for Land Value).

NOTE:  There is a Dock at 900 Hillsboro Mile that's currently used by the Owners of Townhouse #1.  When I spoke with the Listing Agent of 900 Hillsboro Mile, I was told that there is currently Litigation in progress regarding Ownership and usage of the Dock, so the future Ownership and availability of Dockage for everyone is undecided at this point.

Dockage or not, these properties still present an amazing Buying opportunity in the current market.   These Townhouses are the types of half price listings that many say they're waiting and looking for and opportunities like this are rare in our Luxury, Waterfront market.   Because there's such a small inventory of deeply discounted, NON-CONDO  luxury Waterfront properties OF NEW CONSTRUCTION, competition is fierce and these types of listings usually receive multiple offers and sell very quickly. 

I included pictures that I shot inside of the Townhouses, from the Balconies, and the Bridge. If you would like to schedule a viewing or would like additional details, contact me.

Related Information: 

900 Hillsboro Mile

900 Hillsboro Mile

900 Hillsboro Mile

900 Hillsboro Mile

 

900 Hillsboro Mile

900 Hillsboro Mile

900 Hillsboro Mile

900 Hillsboro Mile

900 Hillsboro Mile

900 Hillsboro Mile

900 Hillsboro Mile

 

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale

 

 

 

Wondering what's selling in Broward? How many Homes Sold in Broward in October?  How many homes sold in Ft. Lauderdale and other Broward cities? Looking for a monthly Broward Real Estate Market Report?

When considering buying or selling a Home, it is important that you're familiar with REAL data/facts about homes sold (NOT rumors about how many homes are selling, which homes sold, and what they're selling for). When you're ready to place an Offer to purchase a home, this data also assists you with placing an Offer that's based in reality, an Offer that's more likely to be accepted.

Single Family Home Sales

During the month of October, 2009, there were 1,259  Single Family Homes SOLD in Broward County (they were sold at final sales prices between $6,500 and $5,000,000) through Brokers and these sales comprise the vast majority of total sales. Of the 1,259 Single Family Homes SOLD in Broward County in October, 2009 (The "Sold" prices below mean the final sale price, NOT the listing price at the time of the sale):

299 were sold for $100,000 or less
334 were sold between $100,000 - $200,000
320 were sold between $200,000 - $300,000
149 were sold between  $300,000 - $400,000
67 were sold between $400,000 - $500,000
21 were sold between $500,000 - $600,000
16 were sold between $600,000 - $700,000
12 were sold between $700,000 - $800,000
11 were sold between $800,000 - $900,000
30 were sold at $900,000 and higher

After gathering this data, I looked at it very closely to find details that will help to explain the data in further detail.

Of the 1,259 Single Family Homes sold, 232 were listed as Short Sales and 417 were listed as Bank Owned properties, so distress sales were almost 50% of the total sales. 

In the $100,000 and less category of Sales, 211 of the Homes were Bank owned Foreclosures.  224 of the 299 total sales were indicated to have been purchased as Cash purchases.  Of 299 Homes purchased for $100,000 or less, only 75 of the purchases were financed!!!  Reasons for this include the following:

  1. A large number of Investors in the market are purchasing Homes in this price range
  2. Many Homes in this price range are in need of significant repair and/or updates so are not of interest to Buyers who are interested in immediately occupying the Home as their primary Residence
  3. Many Homes in this price range are smaller than desired by non-Investor Buyers and/or not located in areas that are desireable to non-Investor Buyers
  4. Because of necessary repairs and/or missing Appliances that are often an issue with these Homes, many of these Homes will not qualify for Financing, particularly not FHA Financing
  5. Banks that are selling properties prefer Cash Buyers and, very often, when presented a strong Cash Offer, they will accept it instead of an Offer from a Buyer who requires Financing

What this means is that the $100,000 and less market for Single Family Homes is, in most cases, not a good fit for those who are seeking Homes in this price range as their primary residence, who are usually interested in financing their purchases.  Such Buyers are simply unable to compete with Investors in the current market and are left to continue Renting or to compromise and attempt to find a Condo or Townhouse that might be appropriate.

The largest number of sales occurred in the $300,000 and under price range, so the $300,000 and under price range is VERY competitive.  Homes in this price range are selling EXTREMELY quickly and Buyers searching for Homes in this price range often find that the availability of Homes that meet their search criteria is very limited. 

Homes in the upper price range still aren't selling as quickly and Buyers are still finding that there are challenges with obtaining Financing for Jumbo Loans (Loans over the amount of $417,000 are known as Jumbo Loans). A significant number of Buyers in the upper price range are Cash Buyers. Of 54 Single Family Homes that were purchased for $700,000 and above during the month of October, 24 of those were purchased by Cash Buyers.

Condo, Townhouse, Villa, and Co-op Sales

During the month of October, 2009, there were 1,393 Condos, Townhouses, Villas and Co-ops SOLD in Broward County with final purchase prices between $12,000 - $2,700,000 as follows:

828 were sold under $100,000 
375 were sold between $100,000 and $200,000
90 were sold between $200,000 and $300,000
32 were sold between $300,000 and $400,000
27 were sold between $400,000 and $500,000
44 were sold at $500,000 and above

NOTE:  My monthly Reports present information related to active, sold, and pending listings of Single Family Homes, Condos, Co-ops, Villas, and Townhouses sold through Brokers ONLY, however, these sales and listings are in no way inclusive of the ENTIRE Real Estate Market as there are Commercial Properties and Businesses that are sold, as well as Vacant Lots and Land, Docks, and multi-family dwellings (such as Duplexes, Triplexes, Fourplexes, and Apartment buildings).

Additionally, there are Developer-owned Properties (Condos, Single Family Homes, Townhouses, etc.) that are sold to Buyers directly from the Developer, many of which are not listed for sale through the MLS (non-MLS listed property sales data is available by searching local Tax Records).

Beginning Your Property Search?

Related Articles:

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale

 

Villas by the Sea Residences Sales and Construction Update
November, 2009

Villas by the Sea Oceanfront Park

Construction of the first Oceanfront Building (4444 El Mar Drive) is now complete!  This is Villas by the Sea first DIRECT OCEANFRONT Building ON THE SAND and it contains 21 Residences on the top 3 Floors of a 4-story building.  Property Tax Records indicate that Closings started on August 28, 2009 and 14 Units have been purchased with purchase prices of $869,900 - $1,275,000.   The most recent purchase recorded was October 20, 2009.  Since 14 units have been purchased, only 7 remain with purchases that haven't been completed. 

As discussed in my post in March of 2009, Construction of the first building located across from the Ocean (4445 El Mar Drive) at Villas by Sea is also complete and Closings started in October of 2008.  To date (November 18, 2009), Broward County Property Tax Records indicate that Buyers have purchased 31 of the 45 Units in 4445 El Mar Drive, so the Building is almost sold out.  The purchase prices of the 31 Units were $469,000 - $1,295,800.   The 2009 Sales in the Building range in price from $469,000 - $1,050,000.   This Building is also a 4-Story Building with Units located on the top 3 Floors. Although it isn't a direct Oceanfront Building, several corner Units on upper Floors offer beautiful Ocean views. 

Additional Units are currently under Contract for purchase and successful closings will be recorded in Tax Records.

Several people have asked me why Villas by the Sea prices haven't been slashed.  My response was that a deep discount in prices at Villas by the Sea isn't necessary for 3 reasons:

  1. List prices at Villas by the Sea were already discounted slightly and reflect current market values, not values of several years ago.   
  2. Their reasonable prices are driving sales in the current market, so there isn't a problem of an excessive number of vacant units that need to be sold.
  3. Villas by the Sea is a unique product and has no competition in the current market so far as the availability of similar new product in Lauderdale by the Sea, Ft. Lauderdale, or Pompano Beach, so they're not in the position of having to compete with high inventory of similar new housing nearby.

As Buyers in the current market, the immediate assumption that all prices need to be deeply discounted beyond their current list prices is very often not the correct assessment.  While it is true that there are properties that are priced incorrectly for the current market, there are many others, such as Villas by the Sea, that are already correctly priced for the current market. 

The most unique feature of Villas by the Sea is that the Residences offer low-rise living instead of high-rise.  It's well-positioned because the Buildings are direct Oceanfront or directly across from the Ocean, within walking distance of Shops and Restaurants, and very close to Ft. Lauderdale as well.

Click to view additional details about Villas by the Sea Condo and contact me if you would like additional information about buying, selling, or leasing in Villas by the Sea.

Villas by the Sea could be a perfect fit if you're searching for Lauderdale by the Sea Oceanfront Condos or nearby Waterfront Condos in Ft. Lauderdale, Pompano Beach, Deerfield Beach, or Hillsboro Beach.

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Vickie Arcuri, Realtor®
EWM Realtors, Inc.
1700 E. Las Olas Blvd.
Ft. Lauderdale, FL  33301
Phone:  (954) 708-9309
Fax:  (954) 414-0492
Vickie@vickierealestate.com
Ft. Lauderdale Homes for Sale

 

 
 
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Vickie Arcuri, Realtor Ft. Lauderdale Waterfront Homes

Fort Lauderdale, FL

More about me…

EWM Realtors- Esslinger-Wooten-Maxwell, Inc.

Address: 1700 E. Las Olas Blvd., Suite 103, Ft. Lauderdale, FL, 33301

Office Phone: (954) 306-7452

Cell Phone: (954) 708-9309

Email Me

Vickie@VickieRealEstate.com

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