Fort Lauderdale, FL

According to Trendgraphix Facts and Trends, buying a home in Ft. Lauderdale maybe harder than ever. Since the beginning of 2009, the inventory of homes on the market in Ft. Lauderdale has decreased from a 24 month supply to a present 9.4 month supply. This inventory includes all homes listed on the MLS in a price range up to $500k.

It's not difficult to understand why Ft. Lauderdale's more affordable homes are being snapped up so quickly. There are a few reasons which include:

•1. FHA is the current primary lender of homes with mortgage limits guaranteed to $417,000. In most cases, buyers are only required to place a minimum down payment of 3.5% of the sales price.

•2. FHA mortgages appeal to most since they are assumable in most cases. This allows the current owner to pass along a very low interest rate loan to the next buyer. Most economists feel that in years to come, interest rates will dramatically increase due to the false suppression occurring today. Having a low interest loan in the future will be worth a handsome sum when the home is eventually resold.

•3. FHA also is more lenient in terms of buyer's credit. Most banks today are looking for the best credit scores. People who possess a credit score of over 700 can readily find credit. Most people however have been hit by the economy and have received dings to their credit score. FHA will grant loans to people with credit scores in the low 600 range. This is a huge market that would otherwise be tossed to the side.

•4. The government has brought added attention to the more affordable homes in Ft. Lauderdale by issuing the first time home buyer's tax credit. This credit which is now extended through the end of April allows a buyer who has not owned a home in the past 3 years to receive a tax credit of $8k. To qualify, this person must earn under $125k individually or $250k per year for a couple filing a joint tax return. They must also purchase a home under $800k in sales price and be in contract by April 30, 2010 with a successful closing on or before June 30, 2010. This credit has recently included people that have owned and lived in their current home for the past 5 years. This credit is a tidy $6,500. All of the other criteria previously mentioned also apply.

It's understandable the people of greater Ft. Lauderdale are answering the call to arms. Many were left in the dust a few years back and the average middle class individual was literally priced out of their own town. Today, there are many choices for the buyers in Ft. Lauderdale. Let's hope that we can return to a sense of normalcy and enjoy the sunshine together!

Visit my website for more free information on Ft. Lauderdale.

I had the pleasure of being interviewed by Michael Gerrity of the RealEstateChannel.com. Click below to enjoy this insightful article on the Fort Lauderdale International Boat Show and its affect on local luxury real estate.

http://www.realestatechannel.com/us-markets/residential-real-estate-1/real-estate-news-2009-ft-lauderdale-boat-show-luxury-home-sales-in-ft-lauderdale-luxury-homes-miami-luxury-homes-palm-beach-viking-yachts-julie-jones-1615.php

Enjoy!

Julie Jones

The luxurious Mediterranean-inspired Palms condominium on Fort Lauderdale beach features floor plans from 2-bedroom/2-1/2 bath residences amazing 5,000-square-foot Grand Penthouses as well as some breathtaking town-homes right on the beach.

Enjoy carefree condominium ownership and the highest levels of architecture, interior design and finishes, as well as exclusivity and privacy.

The 20,000-square foot Palms Club is a two-story fitness center with heated pool, tennis and racquetball

The Palms offers a staffed guardhouse, 24-hour security, limited-access elevators to private in-home foyers, concierge and valet parking services.

Both towers are long since finished and occupied, but a number are always available for resale in a building this size.

The Palms is located on the beach between Oakland Park Blvd and Sunrise Blvd.. It is very convenient to Downtown Fort Lauderdale and fashionable Las Olas Blvd and Las Olas Riverfront shopping, dining and entertainment centers.

AMENITIES

State-of-the-art Fitness Center
Business Center
Boardroom
Entertainment area
Computerized Security controlled high speed elevator
system including custom designed elevator cabs
with private access to most residences
Grand entry foyers with coffered ceilings in either 9'or 10' ceiling heights Elegant double hardwood door entry (most units)
24 hour valet
24 hour security
Secured service entry with separate elevator access
Ocean to Intracoastal see through floor plans (most units)
Large capacity washer/dryer
Floor to ceiling energy saving blue/green tinted window
glazing and glass balconies for unobstructed views
Large terraces
State-of-the-art residence security system
directly wired to the main security station
Oversized walk-in wardrobes
Pre-wired for multi-line telephone system
and cable television
Covered private parking
Bicycle storage
Private tenant storage
Ceiling fan outlets (see floor plans for details)

Features of Kitchens:

Cabinets with under cabinet task lighting
Sub-Zero built-in refrigerator/freezer with cabinetry front panels
30" ceramic glass radiant cooktop
Dishwasher with stainless steel tub, sound insulated.
Double convection oven/microwave
Granite countertops with 4" backsplash
Stainless steel double sink with designer fixtures and disposal

With the 2009 Fort Lauderdale Boat Show wrapping up another successful season, I thought my readers would enjoy a sail back in time to see how this tropical paradise lured the first of Fort Lauderdale's luxury boaters, way back when.

In 1893, Frank Stranahan's camp and ferry crossing on the New River caught the attention of the local newspaper, the Tropical Sun. Stranahan's camp, then called the New River Station, was the focal point adjacent to the original fort where traders and nature hunters met. The New River Station then consisted of sturdy tents and comfortable cabins which attracted the sporting crowd to the surrounding Everglades for fishing and hunting. (Today, Stranahan House stands as a historic site on the New River in the heart of the city.)

In 1896, Mr. C.B. Cory, a wealthy naturalist and sportsman, arrived with a refurbished Mississippi steamboat named the Wanderer. The ship cost Mr. Cory $100,000, then a princely sum for a pleasure craft. The Wanderer offered twelve bedrooms, a magnificent lounge, a piano, a recreation room and a gun room. According to one observer, the 90-foot vessel, "at the time represented one of the finest privately owned boats in the country."

Mr. Cory moored the vessel along forty acres of property he purchased on the banks of the New River. Over time, Cory transferred ownership to his friend, a famous actor, Joe Jefferson. Mr. Jefferson entertained society notables, such as Grover Cleveland, as well as a number of women guests who were frowned upon by the local residents. The Wanderer enjoyed notoriety as the first "Party Boat" in Fort Lauderdale until the Hurricane of 1926 reduced it to timbers.

As we watch the mega-yachts from this weekend's Boat Show glide through Port Everglades in all their sleek, nautical finery, keep in mind the hearty folks who appreciated Fort Lauderdale's boating attractions in the "wild" days, when "wild" held an entirely different meaning!

Happy sailing!

Fort Lauderdale offers many options in the Luxury Waterfront Condominium market. Fort Lauderdale offers beautiful sandy beaches and a popular boardwalk lined with restaurants, hotels, and condotels.

Luxury beach-side waterfront condominiums range in price from $650k to the multi-million dollar spectacular penthouses.

Popular mid-luxury condominiums priced under $1m include The Vue (2 towers south of Oakland Park), L'Ambiance (Galt Ocean Mile, north of Oakland Park), Jackson Tower (Intracoastal side, north of Las Olas Blvd), Coconut Grove Residences (North of 17th St Causeway, on the Ocean), Il Lugano, L'Hermitage (at Oakland Park Blvd), Las Olas Beach Club (just north of Las Olas Blvd on boardwalk), Point of Americas (older luxury buildings on the ocean, south of 17th St Causeway), and the Palms (two Luxury towers south of Oakland Park).

Condos above the million dollar mark include premium units in the previously listed projects and especially The Palms, L'Hermitage, Coconut Grove Residences, and Las Olas Beach Club. Other luxurious buildings above the million dollar mark include Alhambra Place (on the Intracoastal, just north of las Olas Blvd.), Harbourage Place (on the Intracoastal, north of 17th Street Causeway), La Rive (on the Intracoastal, south of Sunrise Blvd), Le Club International (on the Intracoastal, south of Sunrise Blvd), The Ritz Carlton, Q (Hilton) Club Resort, The W, Trump, and the Atlantic Hotel (Condotels on Boardwalk north of Las Olas Blvd).

The downtown area also offers luxury units in three buildings with views of the City and the New River. Residents enjoy luxurious amenities and the ability to walk to the Riverfront, performing art center, art museum, Las Olas Boulevard restaurants, art galleries, stores and all downtown has to offer. The three top luxury buildings are Las Olas Grand, the Watergarden, and famous Las Olas River House.

South Florida communities offering Oceanfront and Intracoastal Estates include Palm Beach, Manalapan, Delray Beach, Highland Beach, Boca Raton, Hillsboro Beach (Hillsboro Mile), Fort Lauderdale, and Golden Beach.

Visit www.EliteWaterfront.com for current Waterfront homes and condos Sales and Listings.
Selling the Best Waterfront Homes and Condos from Palm Beach to South Beach
Ben Giordano, MBA, MILHM, CDPE, REOS, Realtor®
Waterfront Specialist with Realty Associates

Ocean, Intracoastal, and Canal Homes and Condos in the Following Coastal Cities:
Palm Beach, Manalapan, Delray Beach, Highland Beach, Boca Raton, Deerfield Beach, Lighthouse Point, Hillsboro Beach, Pompano Beach, Lauderdale by the Sea, Fort Lauderdale, Hollywood, Hallandale Beach, Golden Beach, Sunny Isles Beach, Bal Harbour, Surfside, Miami Beach, and South Beach.