December typically brings a slowdown in the real estate market, and South Florida is no different.
Here's what happened in Hollywood Lakes in December 2009:
-- 9 homes sold, 12 went under contract, 75 were available for purchase
WHAT SOLD?
Of those homes that sold, the highest priced was a 4 bedroom, 3 bath, 2 half-bath house at 1128 N. Northlake Drive. It is on the water and offers 3,933 square feet. It was partly renovated, but still needed some repairs. After 185 days on the market, it sold for $1.4 million.
1128 N. Northlake Drive, sold for $1.4 million 1216 Johnson Street, sold for $205,000
The lowest priced home sold for $205,000, after bring listed for a whopping 477 days. It was a short sale approved at $200,000. It was a 3 bedroom, 3 bath home with 1742 square feet. It needed some updating, and was located at 1216 Johnson Street.
In between the highest and lowest priced homes were 7 others from a 3 bedroom, 3 bath remodeled home that sold for $300,000, to another waterfront home with a deep water dock that went for $749,000.
The home that sold the quickest was a foreclosure located at 931 Washington Street, which was on the market for 28 days before being sold at $351,000. It had been listed at $389,000.
WHAT WENT UNDER CONTRACT?
Twelve properties went under contract. I had looked at 1230 Hollywood for a client, and felt it was an excellent deal, at $209,900 and a moderate amount of repairs needed. I presented this to a client and urged them to get back to me ASAP. It took them a little while to respond, and so they lost the opportunity. This one was on the market for a mere 8 days...
WHAT'S AVAILABLE?
75 homes. On the upper end we have a 9 bedroom, 9 bath waterfront mansion with over 13,000 square feet including a wine cellar, and space enough for a yacht up to 180 feet, priced at $7 million. It's a short sale, and it's been on the market for 531 days.
900 N.Southlake Drive, asking $7 million ->
On the low end is 1242 Johnson Street, a short sale listed at $160,000. It has 3 bedrooms, 2 baths, and needs minor repairs as well as appliances in the kitchen. This one is a HOT deal, so if you want to check it out, let me know asap.
If I can help you with anything at all related to Real Estate in Hollywood, Florida, please feel free to contact me with no obligation. I'm always happy to help!
Diane Loveridge - Majestic Properties - (786) 210-3449 - dloveridge@majesticproperties.com
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