What is a Short Sale?

A completed Short Sale occurs when a Lender agrees to accept a Purchase amount for the Home
(from a new Buyer) that’s less than the Mortgage amount owed by the existing Owner. Typically, a Short Sale occurs when the value of the property is less than the existing Mortgage amount and/or because the Owner no longer has the ability to continue making payments. HOWEVER, please note that not every Home is approved for a Short Sale! Read below for details.

IMPORTANT POINTS FOR SELLERS

1. DO NOT AVOID CONTACTwith your Lender.
2. The Clock is ticking. Do not delay listing your Home for Sale. At this point,your goal is attempting to find a QUALIFIED BUYER who will place an Offer on your Home, have their Offer approved by the Lender, and complete purchase of your Home before the Bank repossesses it.
3. Unlike a regular Sale where you’re responsible for paying Broker Commissions for the marketing of your home, that IS NOT the case with Short Sale Listings. Brokers & Agents are paid BY THE LENDER from the proceeds they receive from the Buyer for the purchase of your Home.
   
4. If you’re interested in negotiating a Short Sale, you must complete a Short Sale application through your Lender. The Short Sale Application package includes items such as the
   Listing Agreement showing that you’re actively marketing your Home for Sale through a Broker, Tax Returns, Financial Statements, W2s, Homeowner or Condo Association Lien Status Letters, and a Hardship Letter.
5. Every Lender will require that you provide documentation of your Hardship (in other words, the Lender will require that you provide a written explanation of why you’re unable to continue making your Mortgage payments) and the Lender will determine whether the Hardship you explained meets their criteria of “Hardship” or not. Simply owning a Home that’s worth less than your purchase price is not
   sufficient hardship. A few examples of Hardship include Payment Adjustments (such as Adjustable Rate Mortages–ARMs), Family Illness, Death, Unemployment, Divorce, Separation, Military Service, etc.
6. In reviewing your Income, Assets, and Hardship, the Lender will determine if you qualify financially for a Short Sale.
7. Other items that can affect the sale of your home include delinquent Taxes, delinquent Association fees, various Liens, etc.
8. The Lender will not allow you to receive any profit from the Short Sale.
9. Your Credit Score WILL be decreased by a Short Sale, although your Credit Score decrease for a Short Sale is less than the Credit Score decrease experienced in a Foreclosure or Deed in Lieu of a
   Foreclosure.
10. If you receive a qualified Offer for the purchase of your Home, the Offer will be submitted to the Lender along with your Short Sale Application package.
11. If the Lender accepts the Offer, they will order a Broker Price Opinion (BPO) which they use to determine the current Market Value of the home. The Lender will use the BPO to determine
    the purchase price that they will accept from the Buyer.
12. Carefully evaluate if you absolutely must sell your home. Listing your Home for Sale does not guarantee its’ sell, nor are there guarantees that a Buyer will place an Offer, or that the Lender will
    accept the Buyer’s Offer. Inventory of homes for sale in our current market is high, so if you do not absolutely have to sell right now, then wait until a future time when conditions are better for Sellers (right now, we’re in a Buyer’s Market, not a Seller’s Market). Review my Broward Real Estate Market Report.
13. Lenders are swamped with thousands of Short Sales and Foreclosures and, unfortunately, are understaffed to handle the caseload. Because of that and because of the required steps to process Short Sale requests, the Short Sale Offer and purchase process can be lengthy. Although
    some Short Sales close quickly once an Offer has been received (within 30-45 days), many others are known to have taken more than 2-3 months before even receiving a response from the Lender as to whether the Offer will be accepted or not.
14. The listing of your Home will be competing with other Homes on the market including non-Short Sales that are competitively priced. If you have more than one Mortgage on your home, the Short
    Sale process will typically take longer than if you have only one Mortgage.
15. I am not an Attorney, nor an Accountant. I advise you to consult your Financial and Legal Advisors regarding the ramifications of a Short Sale or Foreclosure.

IMPORTANT POINTS FOR BUYERS

1. Review the points I included for Sellers above as they will help your understanding of the Short Sale process.
2. The List Price shown on a Home offered as a Short Sale DOES NOT EQUAL the amount that you will pay for the Home!!! When you submit an Offer to the Lender, they will determine the current
   Market Value of the Home and will decide how much of a discount they’re going to offer off of the existing Mortgage amount. Factors affecting their decision include the current market value of the Home, how much home inventory they own, and other factors.
3. Lenders are requesting “highest and best Offer” from Buyers, so ask me for details about how to structure and place an Offer that’s based in reality, an Offer that’s more likely to be accepted.
   I and many other Real Estate Professionals are seeing numerous Buyers’ lowball Offers being rejected by Lenders. Just because home inventory is high and because Lenders do not want to own Real
   Estate DOES NOT MEAN that they are “giving homes away” and that they’re accepting every Offer that they receive. If it were so easy and if Lenders were indeed giving homes away, the current inventory of Broward homes for sale would be A LOT lower and home sales would be A LOT higher.
4. The Lender will first have to determine if the Homeowner qualifies for a Short Sale. Not all
   Homeowners qualify for a Short Sale. The Lender will review the Homeowner’s Income, Assets, and nature of their Hardship to determine if the Owner qualifies for a Short Sale.
5. Other items that can affect the sale of the home include delinquent Taxes, delinquent Association fees, various Liens, etc.
6. When you place an Offer on a home offered as a Short Sale and submit the Offer to the Lender, the Lender will determine if they will ACCEPT or REJECT your Offer. Price negotiations are conducted through the Lender. Although Homes offered as Short Sales are still owned by the Owner (these homes are also known as Pre-Foreclosures), the Homeowner in Pre-Foreclosure DOES NOT determine the amount that will be accepted for the purchase of their home.
7. Get Pre-approved through a Lender BEFORE starting your home search in order to determine how much home you can afford. Home inventory is high in many segments of our local market
   and we have to be able to narrow your home search first based on price and then other search criteria. It’s a complete waste of everyone’s time and resources to view homes that you cannot afford.
   If you’re planning for your purchase to be a Cash purchase, a Letter from your Financial Institution verifying your available funds to purchase a home will be necessary.
8. The Lender will determine if you qualify financially for the Short Sale that you placed an Offer on.
9. Lenders are swamped with thousands of Short Sales and Foreclosures and, unfortunately, are understaffed to handle the caseload. Because of that, other reasons, and because of the required steps to process Short Sale requests, the Short Sale Offer and purchase process can be lengthy. Although some Short Sales close quickly once an Offer has been received (within 30-45 days), many others are known to have taken more than 2-3 months before even receiving a response from the Lender as to whether the Offer will be accepted or not.
10. IF YOU ARE NOT PATIENT, DO NOT ENGAGE IN A SHORT SALE!!!Repeat this a few times! Short Sales ARE NOT for Buyers who are not patient or who have a short, specific timeframe for purchasing. I’ve experienced several Buyers who ignored my advice regarding this who later regretted not listening.
11. Other interested Buyers can submit an Offer on the same Home that you placed an Offer on, so it can be a competitive process where the Buyers involved are all hoping that their Offer is the one that’s approved by the Lender.
12. Short Sales are not the only great deals available for Sale. Many Sellers have reduced their prices in response to market conditions, so there are other Homes that are priced competitively that can be purchased through a normal sale process, without the necessity of Short Sale and Lender approval and related issues.
13. I’ve outlined information about Short Sales in this post, however, Foreclosures (properties that the Bank has repossessed) are also available for sale. Foreclosures typically require a much more
    specific timeframe for closing (unlike the lengthy time for Short Sales), however, item #9 applies here as well (other Buyers can all submit Offers). Additionally, Foreclosed Homes are sold “As Is”, which
    means that the Bank is selling the Home in its’ current condition, has already determined its’ current market value and WILL NOT negotiate the price with you based on repairs or updates that might be necessary. You will pay for and complete an Inspection prior to purchase and will decide to purchase or not purchase the home based on the Inspection results (unlike a non-Foreclosure sale, you will not be able to use the Inspection results as a point of price negotiation or ask that repairs be completed prior to your purchase). Be advised as well that some Foreclosed homes are in varying states of disrepair. Additionally, the Electricity might not be on, so it will be your responsibility to pay for connection of the Electricity prior to the Inspection in order to test the Electrical components of
    the Home.

Again, the information I provided here IS NOT comprehensive and does not substitute for the
advice of Legal and Financial professionals, but is intended to provide you with basic, important details regarding the process. Contact me for additional details. I meet people everyday who
do not understand the FACTS related to Foreclosures and Short Sales.

If you are a Seller who wants to list a Ft. Lauderdale Short Sale or Broward Short Sale, please contact me for information about my Marketing Plan for your home.I work full-time to market your Home for sale and search for QUALIFIED Buyers.Real Estate is not a Part-time Profession for me.

I work with local Short Sale Mitigation Specialists–who also work with you and deal directly with the Lender, on your behalf, to negotiate the existing Mortgage(s), assist you with completing necessary documentation, and facilitate many other necessary steps in the Short Sale process, including closing/completing the transaction if a QUALIFIED Buyer places an Offer that’s accepted by the Lender for the purchase of your Home.

If you are a Buyer who wants to buy a Ft. Lauderdale Short Sale, Ft. Lauderdale Foreclosure, Broward
Short Sale, or Broward Foreclosure, contact me for information about available Foreclosures and Short Sales. As a member of the S.E. Florida MLS and Greater Ft. Lauderdale Association of Realtors, I have access to a Foreclosure database which allows me to search available Pre-Foreclosures and Foreclosures based on a variety of search criteria, including but not limited to City Names, Zip Codes, Subdivision Names, Building Names, Filing Date, Mortgage Amount, etc. The database pulls information from Tax Records, so it’s not limited only to properties that are listed for sale through the MLS and it has far more powerful search capabilities than the local Tax site.

Search Ft. Lauderdale Homes for Sale, search the Ft. Lauderdale MLS and Broward MLS.

 Aquazul was built in 2005 and contains a total of 80 units in a 24-Floor building. There are only 4 Residences per Floor and EACH RESIDENCE HAS ITS’ OWN PRIVATE ELEVATOR & FOYER, which creates a VERY private living environment. The Foyers are privately owned by each Residence Owner and, as such, can be individually personalized and decorated to the Owner’s specifications. The direct Oceanfront views from the Balconies and Floor-to-ceiling Windows are simply amazing!

As of 7/8/08, three Aquazul Condos have sold in 2008, located on Floors 4, 14, and 23, sold at final sales prices between $980,000 and $1,293,500 in March and April. There are only 7 Residences listed for sale in Aquazul, priced between $1,099,000 – $1,599,000, located on Floors 4-22. Click to search Aquazul Condos for Sale.

Amenities and building features include 24-hr. Security, on-site Management, a Heated Pool, Spa, Billiards, Bar, Community Room, Tennis Court, private Beach access from the Pool area, 9 privately owned Poolside Cabanas, Gym, Sauna, and Garage Parking. Large Pets are allowed and Leasing is allowed.

Aquazul’s Pool offers beautiful, unobstructed Oceanfront views! I shot the Pool pictures below while visiting the property yesterday and also took a picture of a really cool Light Fixture above the Dining Room Table in Aquazul Unit 1803.

Cristelle was built in 1998 and contains a total of only 80 units in a 22-Floor building, including only 4 Residences on 20 Floors. Each Residence is VERY spacious, including 3,200 square feet of Living Area and 800 square feet of Balcony. Enjoying the sweeping Ocean views from the direct Oceanfront Balconies really “takes you to another place” altogether and makes you never want to leave!

Amenities and building features include 24-hr. Security, on-site Management, a Heated Pool, Billiards, Bar, Community Room, Tennis Court, private Beach access from the Pool area, Gym, Sauna, and Garage Parking. Large Pets are allowed and Leasing is allowed.

Unlike Aquazul, Cristelle’s Ocean view from the Pool is mostly obstructed by Fences and Hedges, but the Ocean and Beach are only a few steps away. I shot the Pool pictures below while visiting the property yesterday.

There are only 5 Residences listed for sale in the entire Building, located on Floors 5-22, priced between $1,098,999 and $2,050,000. As of 7/8/08, one Cristelle Residence sold in 2008, a 17^th Floor unit, sold at a final sale price of $1,340,000 on April 15^th. Click to search Cristelle Condos for Sale.

Condos in Cristelle and Condos in Aquazul are great deals in today’s market, have reduced prices, and significant potential for value appreciation due to their size, layout, amenities, DIRECT OCEANFRONT LOCATION, and proximity to Ft. Lauderdale, Las Olas, Restaurants, Entertainment, and more!

Please call or e-mail me if you would like information about:

Aquazul Condos for Sale (search Condos for Sale in Aquazul)
Cristelle Condos for Sale (search Condos for Sale in Cristelle)
Europa by the Sea Condos for Sale (search Condos for Sale in Europa by the Sea)
Corniche Condos for Sale (search Condos for Sale in Corniche)
Cristelle Cay Condos for Sale (search Condos for Sale in Cristelle Cay)
Lauderdale by the Sea Condos for Sale

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

When considering a future home purchase, 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, this data also assists you with making an Offer that’s based in reality, an Offer that’s more likely to be accepted. Related Market Report of Interest: Million Dollar Homes Sold in Broward County – Broward Luxury Homes Sold – Waterfront Homes sold in Broward

There are currently 17,069 Single Family Homes for Sale in Broward County.
Broward County is located between Palm Beach County and Dade County (the Miami area). The majority of Southeast Florida includes the Tri-County area of Broward, Palm Beach, and Dade County.

Of the 17,069 Single Family Homes currently listed for Sale in Broward County:
5,087 are priced under $250,000 Search Broward Homes for Sale under $250,000
7,718 are priced between $250,000 and $499,999 Search Broward Homes for Sale under $500,000
2,819 are priced between $500,000 and $999,999 Search Broward Homes for Sale under 1 Million
1,445 are priced at $1,000,000 and above with the highest priced at $28,500,000, a Single Family Home for Sale in Rio Vista Isles with 11 Bedrooms, 12 Full Bathrooms, and 5 Half Bathrooms
Search Broward Luxury Homes for Sale and Broward Million Dollar Homes for Sale

During the month of May, 2008, there were 689 Single Family Homes SOLD in Broward County (they were sold at final sales prices between $44,000 and $15,500,000). Of the 689 Single Family Homes SOLD in Broward County in May 2008: (The “Sold” prices below mean the final sale price, NOT the listing price at the time of the sale).

222 sold under $250,000 View them here
362 sold between $250,000 and $499,999 View them here
75 sold between $500,000 and $999,999 View them here
30 sold at $1,000,000 and above View them here

There are 1,549 PENDING Sales of Single Family Homes in Broward County (priced between $34,900 and $5,500,000). “Pending” means that a Buyer submitted an Offer to the Seller, the Seller accepted the Offer, and there is now a Contract for the Sale of the Home. “Pending” means the sale of the home is not final yet because many items still have to be completed before the home is actually sold (examples include, but aren’t limited to, Home Inspection, Home Appraisal, Lender Approval of the Offer, Title Search, Securing a Home Loan, Building Completion, etc.)

There are currently 22,394 Condos, Townhouses, and Coops currently listed for Sale in Broward County.7,918 are priced under $150,000 (many Condos within this price range are 1-Bedroom Condos OR are located in age 55+ Senior communities OR are in need of significant repair or updates).7,494 are priced between $150,000 and $249,999
4,752 are priced between $250,000 and $499,999
1,493 are priced between $500,000 and $999,999
736 are priced at $1,000,000 and above with the highest priced at $10,000,000. The $10,000,000 Unit is a Las Olas River House Condo for Sale featuring 3 Bedrooms, 4 Full Baths, and 2 Half baths in 8,300 square feet with beautiful waterfront views.

Click to search Broward Condos, Townhouses, and Villas for Sale

During the month of May, 2008, there were 790 CLOSED sales of Condos, Townhouses, and Coops in Broward County (they were sold at final sales prices between $18,000 and $2,275,000).397 were sold under $150,000
223 were sold between $150,000 and $249,999
117 were sold between $250,000 and $499,999
44 were sold between $500,000 and $999,999
9 were sold at $1,000,000 and above

There are 1,425 PENDING sales of Condos, Townhouses, and Coops in Broward County (priced between $21,900 and $6,200,000). The $6,200,000 Condo is located in Coconut Grove Beach Residences in Ft. Lauderdale, a 3-Acre Oceanfront Condo Site with 62 Residences.

Information gathered from the S.E. Florida MLS and is deemed reliable, but not guaranteed

I asked him for information about both Homes so that I could Blog about them in order to provide some additional exposure for them. He e-mailed pictures, which I added captions to and included below. According to recent statistics from the National Association of Realtors and other sources, 85% of Buyers start their home search online. Internet marketing is one of the strongest tools that I use and I’m a strong believer in its’ success as I’ve sold Homes because Buyers and Sellers found me online and I’m contacted daily by Buyers requesting assistance with their Home search. In this post, I am highlighting one of the two properties mentioned above and will include the second home in a later post.

San Juan Del Sur, Nicaragua Oceanview Home for Sale
Priced at $399,000 USD
4 Bedroom, 4.5 Bath, 3,300 square foot Ocean View, Single Family Home
located inside the gated community of Pacific Marlin Estates

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Based on the pictures, LOCATION, and details, I feel that this is a fabulous home at an absolutely terrific price!

I think it would be a great fit for anyone searching for the following:
San Juan del Sur Homes for Sale, San Juan del Sur Waterfront Homes for Sale, San Juan del Sur Ocean view homes for sale, Nicaragua Real Estate, San Juan del Sur Real Estate, Homes for Sale in Pacific Marlin Estates, Nicaragua Investment Property, San Juan del Sur Investment Property, Nicaragua Waterfront Homes, Pacific Marlin Homes for Sale, Pacific Marlin Estates Homes for Sale, Nicaragua Homes for Sale, Nicaragua Vacation Homes, or San Juan del Sur Vacation Homes.

San Juan del Sur info from the Homeowner:
“The local town of San Juan del Sur is a tranquil fishing village nestled at the head of a horseshoe-shaped bay on the Pacific coast of southern Nicaragua. The lovely bay is peppered with small, private yachts and commercial fishing boats. The inhabitants of San Juan del Sur make their living fishing, diving, and catering to the visitors drawn to the bay’s beautiful white-sand beaches, smooth waters, and ecological richness. In and around San Juan, there’s plenty to see and do. Numerous beaches await exploration, the scenery is superb, great surfing can be found nearby, and the sportfishing and sailing are world class. Or you might prefer to just sit back and relax in Nicaragua’s most beautiful beach town.”

I love learning about new places and I wanted to provide detailed information for the blog post, so I spent a couple of hours online reading about Nicaragua and researching additional information about San Juan del Sur and found the following:

• San Juan del Sur is one of Nicaragua’s premier tourism destinations
• San Juan del Sur is located on the Southern coast of Nicaragua just North of Costa Rica (67 miles from Guanacaste, Costa Rica). I enjoyed a GREAT trip to Costa Rica (Quepos, Jaco, and Manuel Antonio) in October, 2005 and wondered about the proximity of San Juan del Sur from Costa Rica
• San Juan del Sur is located 152 miles from San Jose, Costa Rica
  (I flew into San Jose for my Costa Rica trip)
• If you’re planning to fly to San Juan del Sur, the closest Airport is Managua, which is Nicaragua’s Capital. The Airport Code is “MGA”
• A Flight to Managua is ~6 hours from Ft. Lauderdale.
• San Juan del Sur is ~a 2-hr. drive South of the Managua Airport
• San Juan del Sur’s Timezone is Universal, so they are 2 hours
  behind South Florida (Eastern Time)
• Click here for information about the Nicaragua Currency Exchange Rate. Their Currency is the Cordoba (NIO).

If you are located in the U.S., San Juan del Sur, or elsewhere and would like a San Juan del Sur Real Estate Agent to assist you, please let me know and I will refer you to a San Juan del Sur Real Estate Agent. My most recent International Referral was a local Homeowner who is moving to the Dominican Republic and requested assistance with his home search there, so I referred him to an Agent there who is assisting him.The Real Estate Company where I work, Esslinger, Wooten, Maxwell, Inc., opened in 1964, was purchased by HomeServices of America, a Berkshire Hathaway Affiliate, and is part of a vast network of national and international affiliations with representation in each U.S. State and more than 40 Countries worldwide, so I am not limited by location when it comes to assisting you with buying or selling a Home.

During the month of April, in Broward County, 28 Single Family Homes sold at final sales prices of $1,000,000 and above. They sold at final sales prices (NOT LISTING PRICES) between $1,025,000 and $13,500,000.

I viewed the listing and sale history of the home sold for $13,500,000 (listed at $15,900,000). Before its purchase on 4/7/08, it was listed for sale on 2/18/08 and a Contract for sale was accepted on 2/22/08, so it was on the market for only 4 days!!! Even in a blazing hot market, high end luxury homes almost always take significantly longer to sell, so for this home to sell so quickly in our current market, which is not as hot as it once was so far as sales activity, is nothing short of AMAZING!!! According to Tax Records, the previous Owner purchased the Home for $2,181,000 in 1996 and first listed it for sale through a Broker in a previous listing which expired in 1999.

The $13,500,000 home is an Oceanfront Home located in Hillsboro Beach on Hillsboro Mile, which is next door to Pompano Beach. It features 175 of direct Oceanfront and the purchase included an Intracoastal front Dock across the street from the home. This Hillsboro Beach Oceanfront Home includes 7 Bedrooms, 7 Full Baths, 5 Half Baths, a Home Theatre, Tennis Court, 10-car Garage, Library, Billiards Room, Wine Room, Pool, Jacuzzi and more in nearly 20,000 total square feet.

Click to view Hillsboro Beach Homes for Sale and Hillsboro Mile Real Estate-Homes for Sale.

Of the 28 homes sold, 21 are Homes with Ocean Access.

Click to view pictures of and details about the 28 Luxury Homes sold in Broward County.

These homes are located in Ft. Lauderdale, Davie, Coral Springs, Hillsboro Beach, Lauderdale by the Sea, Lighthouse Point, Parkland, and Weston.

The 28 homes sold are located in the subdivisions of Victoria Isle, Isle of Venice, The Almeda, Stonebrook Estates, Stilwell Isles, South Las Olas Isles, Seven Isles, Sea Island, Plantation Acres, Parkland Golf and Country Club, Lighthouse Point, Las Olas Isles, Hillsboro Beach, Lake Placid, Isla Bahia, Idlewyld, Harbor Heights, Eagle Trace, Coral Ridge Galt, Coral Ridge Country Club, Coral Key Villas, and Bel Air Isles.

This month, I prepared a separate report for Ft. Lauderdale Luxury Condos sold. All of them are Ft. Lauderdale Waterfront Condos. View them here.

During the month of April, 2008, according to sales recorded in the S.E. Regional MLS, there were six sales of Condos that were sold at final sale prices over $1,000,000 in Broward County. Of course, there are luxury Condos that are sold for less than $1,000,000, but for this post, I am only discussing the ones that sold at or over $1MM.The Condos sold between final sale prices of $1,050,000 – $3,300,000. Each of them are Ft. Lauderdale Waterfront Condos located in the following buildings:

• L’Hermitage (2 Sales)
• L’Ambiance (1 Sale)
• La Rive (1 Sale)
• Las Olas Beach Club (2 Sales)

Of the 4 buildings above, all are Oceanfront Buildings except for La Rive, which is an Intracoastal Front Building.The Condo sold for $3,300,000 is located in L’Hermitage. It was first listed for sale in January of 2008 at an original list price of $3,399,000, so it sold VERY quickly and close to its’ original list price. This Condo is a 27^th Floor Penthouse, professionally soundproofed, including 4 Bedrooms and 5.5 Baths, a Wine Room, and more in 4,600 square feet of living area. L’Hermitage Condo was built in 1997 and is located directly on the Sand-an Atlantic Oceanfront Building with Amenities including Tennis, Concierge, Valet, a Heated Pool, tropical Beach Pavilion, Café, and more!

Click this link to view pictures of and details about the 6 Ft. Lauderdale Waterfront Condos Sold.

As of today, current inventory in L’Hermitage, L’Ambiance, La Rive, and Las Olas Beach Club is as follows:

L’Hermitage-35 Condos for sale

• Price range: $729,000 – $3,900,000
• 2 Bedrooms – 3 Bedrooms
• Association Fee: $890/month – $2,431/month

L’Ambiance-14 Condos for sale

• Price range: $775,000 – $3,900,000
• 3 Bedrooms Basic – 3 Bedroom Penthouse
• Association Fee: $955/month – $2,055/month

La Rive- 9 Condos for sale

• Price range: $799,000 – $4,899,000
• 3 Bedrooms – 4 Bedroom Penthouse
• Association Fee: $1,387/month – $3,300/month

Las Olas Beach Club- 43 Condos for sale

• Price range: $799,900 – $4,499,000
• 2 Bedrooms – 4 Bedroom Penthouse
• Association Fee: $1,149/month – $3,641/month

Please contact me if you would like information about Condos for sale in L’Hermitage, L’Ambiance, La Rive, or Las Olas Beach Club.Click to search Ft. Lauderdale Oceanfront Condos, Ft. Lauderdale Waterfront Condos, Ft. Lauderdale Beachfront Condos, Ft. Lauderdale Condos for Sale, Las Olas Condos, and Ft. Lauderdale Luxury Condos.

The highest priced Broward County Vacant Lot zoned for Single Family Home Usage is listed for Sale at $7,500,000. It’s an Oceanfront Lot located on the Hillsboro Mile in Hillsboro Beach. It’s the site of a previous home which has already been cleared and is ready for new construction with Permits and Plans available. This property also includes 100′ Intracoastal Dockage across the street (part of the same Parcel and included in the sale price). View the Aerial Shot of this property below along with my added notes.

The lowest priced Vacant Lot for Sale in Broward County for a Single Family Home is priced at $44,900, located in the Pompano Beach Subdivision of Collier City.

In addition to Lots zoned for Residential use, there’s also Broward County Land for Sale zoned for Agricultural, Commercial, Hotel, Nursery, Dockage, and other usage.

Click to search Broward County Lots for Sale.

Per the MLS, 11 Lots have sold this year (at final prices between $72,500 and $2,550,000) that were zoned for construction of 1 Single Family Home. Click here to view the Lots sold.

Please contact me if you would like information about purchasing a Broward County Vacant Lot, Broward County Oceanfront Lot, or other types of Broward County Land for sale.

Located at 1200 Holiday Drive, adjacent to the Harbor Beach Marriott, Coconut Grove Residences holds the distinction of being Ft. Lauderdale newest Condo located directly on the Sand. Coconut Grove Residences is a 12-Floor direct Oceanfront Building offering only 64 luxury residences. 13 Floorplans are offered in units ranging in size from 1,465 square feet – 5,195 square feet (1 Bedroom with 1.5 Baths – 3 Bedrooms with 3.5 Baths).

Coconut Grove Residences Amenities include:

• 5-Star Concierge/Management Services
• An 8-seat private Movie Room, which can be reserved via your SMART panel
• Cardio Room
• Beautiful freeform Pool
• 11 Oceanside Cabanas
• Key Operated Elevators

The completion of Coconut Grove Residences was delayed for a few months, but the pending Contracts finally started closing. Between December 20, 2007 and April 9, 2008, there have been 9 closed sales through Brokers of units in Coconut Grove Residences. Their final sales prices ranged from $940,500 – $3,800,000. Per the MLS, 10 units currently have pending contracts, with list prices ranging from $1,428,900 – $6,200.000. Per Tax Records, many of the units are still Developer owned.

27 Units are currently listed for Sale, priced between $1,100,000 and $6,385,000. Click here to search Coconut Grove Residences for Sale and other Ft. Lauderdale Waterfront Condos for Sale.

Featuring Marble Flooring, Italian Cabinetry, Granite Counter tops, floor to ceiling sliding glass doors that open onto modern glass and aluminum terraces, SMART technology, spacious custom-designed Kitchen areas, walk-in Closets, beautiful Oceanfront views and more, these Residences are truly the epitome of Ft. Lauderdale Luxury Condo living!

If you’re wondering what SMART Technology is, “SMART Building technology provides a seamless integration between a touch-screen access control panel and a lifestyle management concierge which includes services such as medical and dental, amusement and vacation planning, turndown service, room and massage services, as well as valet and security. Coconut Grove Residences is the first Fort Lauderdale Beach building to offer this technology and comes ready to communicate with the entire home from anywhere in the world. Individual owners can choose to integrate all household systems such as motorized blinds, lighting, audio, video, security, air conditioning, Internet and satellite.”

At Coconut Grove Residences, 2 Pets are allowed without weight restrictions and Leasing is allowed once yearly.

While there are some Condos that allow Leases and some that allow Pets, there are many that don’t. Here in South Florida, we have many non-local Homeowners who live primarily in other States and Countries. In “Season”, when it’s cold in other locales, we are home to numerous vacationers. I’ve found that many South Florida condo Buyers whose primary residences are located elsewhere are very interested in the ability to rent their Condos while they are away and Investors are, of course, interested in this as well, so Condos that allow Leasing can definitely be a benefit! There are currently 2 Coconut Grove Residences units listed for Lease, priced at $4,300/mo. and $6,500/mo.

On a similar note, according to a 2007 Survey conducted by the National Association of Realtors, Florida leads the U.S. as #1 in home purchases by International Buyers, holding 26% of the national total of all International Home Buying transactions.

Coconut Grove Condos are located conveniently close to Las Olas Restaurants, Boutiques, Art Galleries, Jazz Clubs, and more, Ft. Lauderdale’s Riverfront, downtown Ft. Lauderdale, and Ft. Lauderdale Beach Shops and Restaurants.

Ft. Lauderdale offers many phenomenal Waterfront Condos for Sale. Please contact me if you would like information about purchasing or renting a home at Coconut Grove Residences or another Ft. Lauderdale Oceanfront Condo.

View the Garden Isles Homes for Sale. This year, 3 Garden Isles Waterfront Homes sold at final sales prices between $350,000 – $493,000.

Garden Isles is located less than 10 minutes from the Beach (Pompano Beach). I created an Aerial shot from Tax Records, highlighted it, and added text so that you can easily view the location.

Pompano Beach is next door to Ft. Lauderdale, on the Northeast side of Ft. Lauderdale, so you’re located very close to Ft. Lauderdale.

If you’re searching for low priced Ocean Access homes in Broward County or Pompano Beach Waterfront Homes, you should consider adding Garden Isles to your list.

Other Pompano Beach Waterfront Homes – Broward County Ocean Access Homes, located adjacent to Garden Isles, are:
Cypress Cove Homes for Sale
Cypress Harbor Homes for Sale
Cypress Isles Estates Homes for Sale
Cypress Lake Estates Homes for Sale
Snug Harbor Homes for Sale

Click to search Pompano Beach Homes for Sale.

Well, here’s a snapshot of Fort Lauderdale Luxury Real Estate. Of course, we know that price alone doesn’t truly define “Luxury”, but we’ll take a look at the $1,000,000+ Broward County Luxury Real Estate Market.

During the month of March, in Broward County, 34 Single Family Homes sold at final sales prices of $1,000,000 and above (per the Southeast FL MLS). They sold at final sales prices (NOT LISTING PRICES) between $1,000,000 and $6,450,000.

Of the 34 homes sold, 20 are Homes with Ocean Access. Click to view pictures of and details about the 34 Luxury Homes sold in Broward County. These homes are located in Ft. Lauderdale, Davie, Deerfield Beach, Hallandale, Hollywood, Lighthouse Point, Plantation, and Weston.

The 34 homes sold are located in the subdivisions of Harbour Islands, Birch Park, Coral Key Villas, Coral Ridge Galt, Golden Isles, Harbour Beach, Hawks Landings, Hillsboro Isles, Hollywood Lakes, Lake Estates, Lighthouse Point 4^th, Long Lake Ranches, Miele-Simonson Estates, Navarro Isle, Nurmi Isles, Plantation Acres, Stonebrook Estates, The Cove, The Landings, Venetian Isles, Weston Hills, Windmill Ranch Estates, and Windmill Reserve.

For this report, I decided to also compare Broward County Luxury Real Estate Sales (for Single Family Homes) from the past 6 months. If you’ve read my Blog since last year, then you’ve already read the past Broward County Luxury Real Estate Market Reports, but I thought it would great to see the 6-month stats in one place. See the following Table for details.

For the total homes sold for $1,000,000+ from October 1, 2007 – March 31, 2008, the average List Price (this means the List Price at the time of the Sale, which is usually NOT the same as the ORIGINAL List Price) to Sale Price Percentage was 86%.

During the month of March, in Broward County, 15 Townhouses and Condos sold at final sales prices between $1,050,000 and $2,500,000.

Click to view the 15 Luxury Townhouses and Condos sold in Broward County. Except for 2 Buildings, they are all either Oceanfront or Intracoastal Front Buildings. These 15 Condos are located in Ft. Lauderdale, Hallandale, Hillsboro Beach, Hollywood, and Lauderdale by the Sea in the following buildings: Aquazul, Beach Club, Colee Hammock, Diplomat Residences, Europa by the Sea, Harbourage Place, Las Olas Beach Club, Las Olas Grande, The Palms, Villas of Positano, and Ocean Grande.

Please contact me if you would like additional details about the Broward County Luxury Real Estate Market or information about buying or selling a Broward County Luxury Home.