Julie Jones

The State of Florida offers excellent tax incentives for applying Green standards to new construction or renovating commercial and residential buildings. Besides tax incentives, I was surprised to learn that applying Green standards is not as costly or stringent as most people think.

Jerry Nelson is an accredited LEED professional builder with luxury residence builder, Bomar Builders Inc. (LEED = Leadership in Energy and Environmental Design-developed by the US Green Building Council-USGBC. LEED is accepted internationally and nationally as a standard of excellence.)

Jerry Nelson said, "The greatest misconception about Green building is the cost. The real expense is in the pre-construction planning with architects to make green systems integral with the building."

On average, an upfront investment of 2% in green building design results in saving more than ten times the initial investment in the life-cycle of total construction costs. In addition, the cost of building green falls into the same percentile of costs for building outside of green standards.

Jerry Nelson cautions, "Putting a solar panel on house is not really "green" construction. Green construction is integrating a sustainable system to provide proper air quality and lower energy costs. The end result is that the whole house is a system-a living thing." However, changing one dynamic can affect many features in a home. For example, installing energy efficient windows reduces cooling costs and sun damage to interiors while adding needed light and protecting the building from hurricane winds.

Nelson believes buyers need more motivations to go Green. He adds, "As incentives go, there is no question as to compensation when using LEED's home standards. A LEED certified building or residence is considered to comprise the most comprehensive Green system, integrating energy savings, water efficiency, CO2 emissions reduction, improved indoor environmental quality, and stewardship of resources and sensitivity to their impacts. In other words, using LEED construction lowers an individual's "carbon footprint" in his environment. Visit www.usgbc.com for more information on this excellent program.

BOMAR endorses LEED standards for building Green. "In Florida, most new construction is going green whether we know it or not. For example, schools and public buildings now require LEED in construction. Green is being mandated in many areas of the public sector," Nelson said. For more information of building Green, visit www.BomarBuilders.com.

This is all important information for homeowners whether planning to build their dream home, or renovating their existing home to improve quality of life. Any improvement to our homes impacts not only us for the better, but our environment, as well. In my next blog, I will return with more benefits on building and renovating Green. So stay tuned!

Wishing you the best from my corner of paradise,
Julie

The Fort Lauderdale International Boat Show kicked off the main selling season for real estate here in South Florida. As temperatures start to drop in the Northern States and overseas, potential buyer's attention turns to the Sunshine State. Low prices and high inventory are a major attraction this year. As November sets in and the holiday season approaches, here is the latest news from the trenches of the luxury real estate market.

The Good

· The Fed again pledges to hold rates at record-lows for an extended period, signaling that the weak economy remains dependent on government assistance to grow. Most analysts do not think that the Fed will begin to boost rates again until next spring or summer.

· The Central Bank hopes low rates will encourage consumers and businesses to boost spending and invigorate the economy. The Fed signaled that it can continue to hold rates because inflation is all but nonexistent.

· The economy began growing again last quarter for the first time in more than a year. However, much of that growth was from Government support spending on homes and cars.

· The Florida Realtors statistics show sales of existing single family homes rose 33% in the third quarter of 2009 versus 2008--marking the fifth consecutive quarter that Florida has seen higher existing year-to-year sales. Statewide sales of existing condominiums in the third quarter rose 56% versus 2008, marking the fourth consecutive quarter.

· The general view is that Florida will rebound because the sun shines every day and there are lots of advantages to living here. Foreign investors see this too and believe that prospects are good for long term investments. This month Julie has seen buyers from Russia, Canada and Europe.

· The first-time buyer tax credit has been extended which favors the under $1M market. However, any boost to buyer confidence will impact on the sales of luxury real estate over time.

· Investors are very slowly and cautiously returning to Florida, they are looking for the ultimate bargains and always make low offers, often with equally low deposits. However, Julie welcomes the activity on her inventory and encourages all buyers to counter offers which have to "start somewhere".

· The quality of buyers has improved since the summer time. Buyers are more serious and are coming back for a second look (often resurfacing after cooling off for many months). The Internet provides such a wealth of knowledge that these buyers are very well educated as to market values and opportunities.

· Julie is talking to a number of buyers who are considering listing in the New Year after all of the holiday activities.

· Social media continues to grow in popularity with Zillow, Trulia, Inman and the new Blockshopper program providing additional exposure for Julie's listings and widening the Internet "net" both nationally and internationally.

· Brian Radeer has joined Julie's team as a buyer specialist and brings extensive experience of the oceanfront condominium market, in particular.

· Julie and the team has $8M in pending sales for November and looks forward to a strong end to 2009.

The Bad

· Fed Chairman, Ben Bernanke, cautions that rising joblessness and tight credit for many people and companies could restrain the rebound in the months ahead, with economic activity likely to remain weak for a time.

· As with all past economic rebounds, the recovery will not stop the unemployment rate from rising. The jobless rate could rise as high as 10.5% before declining. The delicate balance between boosting interest rates and removing government support too soon could damage the recovery. On the other hand, maintaining low rates and keeping support for too long could fuel inflation.

· The Fed continues to caution that the tepid recovery has begun but gains are small or scattered. Predictions for Florida are that the holiday outlook is weak with home sales rebounding at a slower pace. Although layoffs eased, firms are waiting for a surge in sales before hiring.

The Ugly

· South Florida buyers are increasingly leery about Chinese Drywall. An extreme example is ruling out entire communities or residences built within the past seven years. As many as 100,000 homes in the US, including 36,000 in Florida could have the imported wallboard which is thought to corrode wiring, cooper pipes, appliances and give off the "rotten egg" odor. In the worst case, homeowners report nosebleeds and respiratory problems. However, this is denied by State and Federal officials who have yet to make this link.

· Under Florida law, sellers and their real estate agents must disclose any known material defect or condition which would affect the value of a property. To this end the Florida Association of Realtors has added a disclosure form for Chinese drywall, but there is no state law requiring the use of this document.

· Massive amounts of foreclosures continue to clog the county's civil courts. To put this in perspective 135,000 foreclosures could be filed in Miami-Dade, Broward and Monroe this year compared to 17,500 in 2006.

The overall message is this ‘THERE IS ONLY ONE WAY TO ENTICE THE BUYER .... THAT IS WITH PRICE'. Julie will be contacting all of the sellers that she works with to encourage them to continue price adjustments in order to maximize the opportunity of a sale this season. As always Julie and her team welcomes comments and questions on any aspect of the luxury real estate market in Fort 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

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!

Over the past couple of weeks some of my friends and customers are putting a focus on their retirement goals!

Losses from the financial crisis and uncertainty (even with the good old bond market) are leaving so many of us scratching our head as to where and when to invest! But good old bricks and mortar in the form of residential real estate may not be such a bad option, especially if a retirement or vacation residence is on the horizon.

One million dollars does not buy you what it once did real estate-wise. In fact, it now buys you more! Sales of residences over $1M adjusted by more than 50% from the peak four years ago, opening excellent buying opportunities for those willing to take the plunge. Plus, consider the inventory that is now available for potential buyers.

I have approaching fifty listings, ranging from $1M to $11M and they are all beautiful residences! There is the highest selection of luxury residences that I have ever seen over my 11 year span as a real estate broker. Since July 4th, I have seen a shift in the buyer's attitudes when they look at the properties I represent. They are taking a little more time, asking more detailed questions and making offers when everything stacks up for them.
Some Fort Lauderdale properties offer excellent rental income, so that if you are not quite ready to retire you can rent, full or part-time, until the glorious day arrives to soak in the sunshine every day!

Whether you are looking to stick your toes in the sand of our beautiful Fort Lauderdale beaches, dock your boat behind your private residence or enjoy the 5-Star amenities of our luxury condominium communities, there is definitely an opportunity to achieve your real estate dream! Please do not hesitate to contact me or visit our website at www.luxuryrealestateftl.com. Your retirement goals could be well within reach.