About Hollywood's Hollywood Lakes

Here's what is happening in Hollywood Hills as of March 31st:

-- 6 homes sold this past month, 13 are under contract, and 86 are available for purchase

Now if you are interested in selling your home, these numbers are certainly not encouraging at face value. But remember that those 86 available homes include several multi-million dollar properties, which just don't sell very quickly, and plenty of overpriced listings, which will also sit on the market for a long time. The correctly-priced, well-presented and heavily promoted home WILL sell. If I can help show you how to do these things, please let me know.

So on to the details about what happened in Hollywood Lakes real estate this month...

WHAT SOLD?

1044 Harrison Street sold for $460,000 after 303 days on the market

This 4 bedroom, 3 bath home with 2,455 square feet was originally listed at $585,000 back in April of '09. It started getting offers when the price was later dropped to $495,000. This 2-story Spanish-style home with original tile and hardwood floors was designated a historic home by the city.

1230 Hollywood Boulevard sold for $220,000 after a mere 8 days on the market

I mentioned this house in a previous post, noting that it was a great deal. This 3 bedroom, 2 bath home with roughly 1,900 square feet sold for more than it's asking price of $209,900. Chances are it got multiple offers.

WHAT WENT UNDER CONTRACT?

Thirteen homes are currently listed as "pending sales," meaning they are under contract with a buyer, and therefore off the market. These include a 2,729 square foot waterfront home with deepwater dockage and no fixed bridges to the ocean, that had been listed at $1.3 million, as well as a modest 3 bedroom home on Polk Street that had been listed at $249,900. Note that there is no way to know the contracted purchase price until the sale is completed.

WHAT'S AVAILABLE?

On the high end, 900 N. Southlake Drive, pictured in my December '09 blog, has been reduced to $6.8 million. Next in price below that is 1101 S. Southlake Drive, a 4 bedroom, 4.5 bath waterfront home with 5,700 square feet. It features a marble fireplace in the master bedroom and a designer kitchen, and is listed at $4.5 million.

1101 S. Southlake Drive

On the lower end of the price range is a 3 bedroom, 2 bath home with a remodeled kitchen with granite countertops, and a huge backyard. It has 1,389 square feet, is a short sale, and is currently listed at $225,000.

1239 Buchanan, listed at $225,000

If you'd like to see any of these available properties, or if you'd like to discuss selling the home you currently own, please contact me for a free, no-obligation consultation. I am always happy to help.

Waterfront Homes on Direct Ocean Access makes "Hollywood Lakes" in Florida A Boater's Paradise to call Home

The City of Hollywood is located in southeastern Broward County, and includes about 5-6 miles of Atlantic Ocean Beach.  The City of Hollywood was established at 1925 by Joseph Young and is a Family Friendly community of Single Family Homes, Condominium and Townhomes. The City of Hollywood is located only five minutes from Aventura and Golden Beach and only 15 minutes from Fort Lauderdale and less than 25 minutes from Miami.

Here you will find a Distinctive Historic Neighborhood called "Hollywood Lakes" where Homes are located just off the Intracoastal Waterway with Direct Ocean Access to the Atlantic Ocean with no Fixed Bridges.  As a Boater what is better than to Jump in your Boat in your own back yard and go fishing or dine at one of the many Waterway Restaurants you will find on the Hollywood Intracoastal.

Home Prices start anywhere from $400,000 to well over a Million Dollars depending on what you are looking for.  There are many 3 and 4 Bedroom Ranch Style Homes and Tudor Style Homes that were built in the early 1960's and 1970's with fabulous historic architecture with square footage anywhere from 2,000 to 3,000 square feet under air.

If you are looking more for a Mediterranean Style Home or an Exquisite Waterfront Mansion you will find many of these with square footage anywhere from 5,000 to 9,000 under air with sensational Views of the Intracoastal.

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

Educating Hollywood Florida Luxury Home Buyers & Sellers

Everyone knows a large part of the life of a South Florida real estate agent is spent invested in educating buyers and sellers in our real estate market's ever-changing landscape. One of the ways I like to highlight these shifts in our local market over time is by offering graphs and historical data on market activity. Graphs and stats remove the emotion of the current market conditions and offers a compelling story how our market experiences its highs and lows.

The International Influence on South Florida

It's a given our current South Florida real estate market has an over supply of single-family homes for sale. The problem is far more severe with the South Florida condo market. Fortunately, I am seeing a trend, be it ever so slight, with the number of homes on the market slowly coming down due to International influences. One of the positives of a weaker US dollar is the influence the International home buyer has recently had on our market. One of the ways I measure the local impact of International visitors is reflected in our area retail sales revenue numbers. The Aventura Mall is now one of the top grossing malls in the United States primarily because of the impact of mainly “International” shoppers. In addition, my sales volume year-to-date is up 22% over last year. I contribute this directly to the fact that life in South Florida is so attractive especially to International visitors, buyers and investors.

To Read the Rest of Story on the Hollywood Florida Real Estate Market

You may access the rest of the story on specific market data by clicking on this Hollywood Lakes real estate market link.

How About Your Feedback!

What other specific influences do you think impact our current South Florida real estate market?

Until my next post,

Scott

Your Hollywood, Hallandale, Aventura and Golden Beach Real Estate Expert