Everyone is looking for a "deal" in South Florida...well....here's the news.
According to Trulia.com, Broward county real estate has gone up 6% since last month.
We have sold many of the foreclosures and REO's here, only to get info from our broker today to expect the banks to release yet another batch that the banks were holding onto, waiting for the governments decision on how to allocate more money to banks.
Most people who are looking to buy in south Florida expect to get a "direct ocean" view for pennies on the dollar. That is not the situation here east of Federal Highway on Fort Lauderdale, Hillsboro Mile, Pompano Beach areas.
While most people don't understand, many of the owner's of condo's on the beach have paid cash for their vacation homes. I know of only 2 foreclosure situations east of the A1A or beach front avenue.
Condo's on the beach have held their value's for the most part. Yes the prices have come down, however, only slightly...not as much as the condo's and homes west of I-95.
If you want information on this area, please call me.
What are you consumer's looking for as a deal?
What are you willing to pay?
Just for the record, there are few 2/2's under $300,000., and if you find one, it's probably in "original condition". Most of the condo's in Lauderdale By The Sea were built in the 70's...that's the original condition. Yes, there are new condo's that have been built here since that time, however, they are not being sold under $400,000.
We welcome all your interest, and if you don't necessarily need ocean front, there are some great deals to be had east of "Ocean Drive", A1A, Beach Front Avenue. If you want more information, please feel free to call me. 954-464-4194.
Is anyone else seeing this trend?
http://www.KarenMonsour.com, 954-464-4194 cell
(Copyright© 2009 Karen L. Monsour, All Rights Reserved.)
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Karen, that is great news that real estate went up 6% but until we get through the REOs and short sales, the market is going to be volatile. At least it is here.