It is my pleasure to keep you updated on some of the trends that are influencing the luxury market here in Fort Lauderdale.
- Julie Jones and Associates are gearing up for the main South Florida sales season. As the market improves the stale inventory is being absorbed and making way for exciting new offerings.
2501 Hibiscus $1,795,000
2301 Aqua Vista $12,900,000
- Vacation rental performance in Fort Lauderdale remains strong – HomeAway Inc., an online marketing service for vacation rentals reported strong performance during this summer season. Average occupancy was at 77% with 23% of owners increasing their rates this year. With a nation wide average of $254 per night about half of the owners who have a mortgage on their vacation property were able to cover at least half of the payment. Julie Jones & Associates offers inventory perfect for vacation rentals. Here are five:
601 North Fort Lauderdale Beach Blvd #1501 $1,145,000
817 Ponce de Leon Drive - $1,275,000
1501 South Ocean Drive - $1,275,000
801 Solar Isle - $1,395,000
65 Isla Bahia Drive - $2,995,000
- The New Global Currency – luxury real estate is earning the reputation as the new global currency (Daily Business Review). More than half of the real estate purchases since 2012 were cash purchases as opposed to 10% in 2005. Some investors see their real estate purchase as an expensive safety deposit box! Fort Lauderdale is certainly on the radar for those looking to invest in a luxury lifestyle in the sun.
2701 Sea Island Drive $3,195,000
701 North Rio Vista Boulevard $2,995,000 - offers 131 feet of deepwater dockage and a separate guest house.
- Sales in the $1M plus range jumped 25% from 2012. This interest is generating more demand for water and oceanfront residences. By working with a dedicated Buyer Specialist you can be sure that you will be one of the first to hear about new offerings.
2810 NE 37th Court - $1,145,000 – currently the least expensive offering with 100 feet of waterfront in Coral Ridge Country Club
- Wells Fargo and JP Morgan have offered some of our buyers interesting financing options – please contact me for an introduction to the local finance experts here in Fort Lauderdale. Zero closing costs and more limited documentation are making these plans especially attractive.
I am noticing that some of the buyers that I have worked with are returning to Fort Lauderdale and are ready to make their purchase. If your criteria has changed or you would like me to research a particular property type for you then please let me know. As a dedicated Buyer Specialist it would be my pleasure to help you identify your next real estate purchase.
Please let me know if you have any questions on this bulletin.
Here's wishing you an excellent September!