3138 Peachtree Circle in Forest Ridge

This past month I’ve closed several listings in Forest Ridge in Davie and I have not had any difficulty with the appraisals.  There are a share of short sales and foreclosures in the neighborhood, and there are also properties that are so outstanding for the price that buyers have paid over the appraised value.  While I am still being cautious by telling sellers that their home is only worth what someone is willing to pay for it, I am breathing a little bit easier these days.  The old rule of real estate is holding true….location, location, location.  Forest Ridge is one of those prize communities where you will find great homes in the price range of the low $200’s to over $500,000.  Pride of ownership is evident throughout the community and the school district is a selling point.  This 4 bedroom/2 bath home at 3138 Peachtree Cr. is  situated on a lake, with a pool and a new kitchen and the selling price was $420,000.00

The real estate market is definitely heating up.  I just got off the phone with a fellow Realtor who told me she has double booked buyers for the past two weeks.  I’ve had a similar experience recently and it feels good to be working with sincere, motivated and qualified  buyers again.

Last week I  had three good, decent offers on one of my Forest Ridge listings so I know that there’s activity going on out there.  Now I’m wishing that I had even more inventory to sell.

Here’s a breakdown of what’s going on in Forest Ridge right now.  There are 21 active listings priced from $599,000 to $240,000.  There are 12 Pending sales and there are 7 homes that have sold in the past 60 days.  Not bad considering what the past 12 months has been like.

The average price has definitely dropped and if you’ve read my other blogs you will know that the most popular price range is somewhere around $300,000.  That will get you a lot of house these days.  With the exception of two homes priced over $450,000 the rest of the pending sales in Forest Ridge are listed at $350,000 and under.

This is not the time for sellers to be speculating if they want to move before the hot and sticky summer heat is upon us.  The reality is that price moves the property, regardless of the condition or upgrades in the home.

The most recent sales in Forest Ridge are 3077 Perriwinkle Cr., located in Old Orchard East. 4 beds/3 baths with a pool and waterfront.   It was a foreclosure listed at $324,900 and sold for $331,500 on 4/2/2009.  It is difficult to determine the Days on the Market, as this property had been for sale for quite sometime before the foreclosure but it did go under contract in only 10 days once the foreclosure took place and the price was reduced to $324,900.   This home was in need of  interior cosmetic work but a good value .equity;

9607 Sugar Pines Court, located in Old Orchard West, 4 beds/2 baths/with full accordion shutters, no pool or water.  A well maintained home on a 10,000 sq. ft. lot.  There are no cosmetic upgrades in the home but it does have a nice roofed, screened patio and lots of potential.  Listed at $349,000 and sold for $329,500 on 4/1/2009 after 91 days on the market.

2776 Oak Grove Road, located in Oak Grove, 4 beds (3 beds plus a loft with closet) 2.5 baths, no pool or water.  Listed for $299,000 and sold for $257,500.  This home had been vacant for a while and needed some interior loving care.  Great potential for the lucky home buyer.  It closed on 4/1/2009 after 401 days on the market. There are lots of wonderful homes to purchase in Forest Ridge and in the next few months I expect to see more activity as a result of motivated sellers and qualified buyers.

If there is one word of advice I can pass along to you today, its  that not all homes have to be in perfect, move in condition.  The days of putting in sweat equity have returned.  What’s better than buying a home that you can transform into your own to enjoy?  The homes in Forest Ridge have proven to be solidly built even if they didn’t come with granite kitchen counter tops and marble flooring.  Nothing makes a house a home more than your own personal touch.

2737 Pinewood Court, Davie, FL 33328

This contemporary 3 bedroom, 2.5 bath home with a private, fenced lot will be held open today, March 22, 2009 from 1 – 4 p.m.  It features a new roof, new exterior paint, a great room, an eat in kitchen, a first floor master suite with a walk in closet and two bedrooms and a bath on the second floor.  This is not a Short Sale or Foreclosure but the owners are motivated.  The list price is $244,900. 

The home offers a T-shaped waterview from the entire back of the house.  A new seawall has been installed to prevent erosion.

You can view a virtual of this lovely home at www.obeo.com/521804

]]> http://forestridgevoice.com/2009/03/06/forest-ridge-lakefront-home/feed/ 0 http://forestridgevoice.com/2009/03/06/forest-ridge-sales-reflect-trend/ http://forestridgevoice.com/2009/03/06/forest-ridge-sales-reflect-trend/#comments Fri, 06 Mar 2009 13:32:07 +0000 pattireid http://forestridgevoice.com/2009/03/06/forest-ridge-sales-reflect-trend/ Three and one half years ago, less than 30% of the closed sales of single-family homes and condos within the Broward and Miami-Dade MLS accounted for homes and condos sold for less than $300,000.  Today 75% of all Broward and Miami-Dade sales are closing at prices less than $300,000…..with upwards to two thirds of all current closings being either short sales or foreclosures.

The inventory of homes and condos priced less than $100,000 in mid-2005 accounted for less than 400 homes.  Currently, in Broward and Miami-Dade, Realtors have over 11,000 homes and condos for sale priced less than $100,000.  These numbers account for 17% of our total MLS inventory.

The graph below represents  sales in Forest Ridge, based on the average list price and average sales price, according to the MLS.

EWM Realtors, Inc. has launched a new initiative called EWM Smart Living which can be accessed through www.ewm.com.   It will showcase listings which are  in the $300,000 and under price range and will feature single family homes, town homes, villas and condos.  A recent EWM analysis of Multiple Listing Service (MLS) data indicates that more than 45,000 South Florida single family homes and condos are priced less than $300,000.  That represents 65% of the total number of homes and condos actively for sale in the Broward and Miami-Dade market, according to Ron Shuffield, EWM President, and all 45,000 listings will be available on EWM Smart Living.

2737 Pinewood Court, Davie, Florida, 33328. Featuring 3 bedrooms, 2.5 baths, a new roof, privated fenced lot, open kitchen and great room, 1st flr. master suite, community pool and tennis, walking trails to Tree Tops Park.  Near great schools and parks.  Close to Nova Southeastern University and Broward  College.   Priced at $254,900.

2737 Pinewood Court, Davie, FL 33328

9228 Magnolia Court, Davie, Florida. 33328.  Featuring 3 bedrooms and an open loft with built in book cases (can be converted to closet and closed in for a 4th bedroom).  Formal LR/DR, family room, large screened patio and fenced lot.  Upgraded kitchen.  1st flr. master suite. Soaring volume ceilings and elegant oversized windows.  Priced at $330,000.

China Yung Restaurant, Fort Lauderdale; Einstein’s Bagel, Federal Hwy. Fort Lauderdale; Indigo Restaurant, Las Olas Blvd.; Japanese Steak House, Las Olas Blvd.; Kings Head Pub, Dania Beach; Samba Room, Las Olas Blvd.; Starbucks, W. Broward Blvd.; Strombili Pizza, S. University Drive, Plantation; Tarpon Bend, Downtown Fort Lauderdale; Zona Fresca, N. Federal Hwy, Fort Lauderdale; Beverly Hills Cafe, N. 46th Avenue, Hollywood; Harrison Street Sushi Jazz, Harrison St., Hollywood and Nakorn Japanese and Tahi Restaurant, Harrison St. , Hollywood.

Save the date:  Saturday, March 7, 2009  Walk for the Animals.  Sponsored by the Human Society of Broward County.  You can walk with or without your dog.  1.25 mile walk to benefit the Humane Society of Broward County.  Huizenga Plaza in Down Fort Lauderdale, 32 E. Las Olas Blvd., 2 blocks south of Broward Blvd.  Registration begins at 8 a.m. , the walk begins at 10 a.m.  Rain or Shine!  For more information go to www.walk4theanimals.com.

This year’s event will be chaired by Rhonda Gracie and Amy Comas-Diaz.   Residents interested in volunteering for the event  may contact them at hollydayparade@yahoo.com.  A new website for the parade has been created by Diana Paul, owner of FastWebSolutions and a resident of Forest Ridge.  This is where you will find all the details and updates for the parade.  Sponsors are welcome and may contact Patti Reid,  ”The Forest Ridge Specialist“, a  Realtor and Forest Ridge resident, at Patti@PattiReid.com to discuss opportunities for your company to be recognized.

Treasures of all kinds will be sold including plumbing fixtures, collectibles, bicycles, lampshades, linens, books and more. The sale will take place at the site of the Tennis Courts, located right off Pine Island Road, to the south the main entrance of Forest Ridge.

Proceeds from the sale of these items will help provide the Forest Ridge Women’s Club with the funds necessary to spread joy and increase merriment throughout the club membership with monthly membership meetings, social gatherings, lunches, dinners, dances, and travel.

All female Forest Ridge residents, young and mature, are invited to join the club. For more information contact Patti Reid at (954) 854-6310.