A recent article in South Florida Business Journal stated that the combined revenue of South Florida's top 100 private companies increased from $57.68 billion in 2006 to $64.6 billion in 2007. This 12% increase came even as we registered tremors from the real estate downturn and economic growth slowed nationwide.
These results are based on companies reporting their 2007 earnings to the South Florida Business Journal.
While certain real estate and construction-related companies showed revenue declines, three of the five largest gainers, in terms of percentage revenue, were real estate or construction related.
Kast Construction Co. posted revenue of $95 million in 2007, up from $30 million in 2006. General contractor, James A. Cummings Inc., continues to build government facilities including local schools and parking facilities and ranked second in percentage of revenue growth at 150%. The highest grossing development company is the Related Group: No. 9 on the list-even with a drop in revenue from $1.4 billion to $1.25 billion.
The top five companies in terms of overall revenue are:
•1. JM Family Enterprises, Deerfield Beach based automotive company with $12.2 billion in revenue.
•2. Miami based beverage distribution giant, Southern Wine and Spirits of America, with an 11% revenue gain from $7.5 to $8.3 billion.
•3. Miami's Brightstar Corp., cell phone distributor and manager of wireless supply operations, enjoyed a 32% jump from $3.6 to $4.8 billion.
•4. West Palm's OxBow Corporation, an energy, minerals and commodities firm grew revenue 146% from $1.4 billion in 2006 to $3.4 billion in 2007 while making two major acquisitions during this same period.
•5. Florida Crystals Corp, or Flo-Sun, our local sugar giant, grew 20%: $2.5 to $3 billion from 2006-2007.
And a curious entry on the list is Aero Toy Store LLC. This private jet, helicopter and yacht sales company saw 65% revenue growth, earning $838 million in 2007. South Florida Business Journal speculates that Aero Toy Store's success may indicate South Florida's continued ability to attract wealth, in spite of a struggling economy.
This is all encouraging news. And I'm pleased to pass it on.
If I can meet any of your luxury real estate needs, please call 954.382.3665, or email Julie@premierestateproperties.com. Don't hesitate to visit www.LuxuryRealEstateFtL.com to view my exciting Fort Lauderdale listings.
Mason Pruner, Branch Manager of Wells Fargo on Glades Road in Boca Raton recently sent me this update from Washington on The Housing and Economic Recovery Act of 2008. If you haven't already heard, I'm sure you would like to know the new facts.
The House and Senate passed a broad-based housing legislation that President Bush signed into law on July 30th. Heralded as the most sweeping housing reform since the "New Deal", this legislation includes the creation of a strong regulator for Fannie Mae and Freddie Mac, changes in conforming and FHA loan limits, a comprehensive modernization plan for FHA, and the Hope for Homeowner's plan, which may help distressed homeowners by refinancing them into FHA loans. Most lenders view these reforms as beneficial to return stability to the mortgage markets.
Key Provisions of the Housing and Economic Recovery Act:
Higher permanent loan limits!
· For conventional conforming and FHA
· Effective January 1, 2009
· Varies by metropolitan area
Note: The temporary limits established in March will expire in Dec 31, 2008.
Other FHA Highlights:
· Floor limits will remain at $271,050
· Condo processing will be streamlined
· Minimum down payment by buyers will increase to 3.5%; maximum LTV cannot exceed 100% with MIP included in the LTV cap
· Moratorium on risk-based pricing with new case numbers ordered on or after Oct. 1, 2008.
· Elimination of seller-funded Down Payment Assistance Programs with FHA loans for credit approvals issued on or after Oct 1, 2008.
Reverse Mortgages (HECM):
· Higher loan limits
· Ability to use for home purchase transactions
· Limits to origination fees
VA Loans:
· The guaranty will increase up to $156,250
If Mason can answer any questions for you regarding this new legislation, please call him directly at 954.857.3502 or email Mason.Pruner@WellsFargo.com.
As always, if I may assist in any of your luxury real estate needs, please cal l 954.328.3665 or email Julie@premierestateproperties.com. Visit www.LuxuryRealEstateFtL.com to view my fabulous Fort Lauderdale listings.
The distinctive twin towers of The Palms rise majestically above 450 feet of white sandy ocean frontage complete with a palm lined boardwalk and tropical landscaping.
A delightful private enclave of 24 hour security and serenity, the classic, Mediterranean design flows from the Grand arrival piazza to the beach. 24 hour valet parking, heated pools, beach club, ocean facing tennis courts, and concierge services are just some of the luxury amenities. This resort style community is also pet friendly.
The Palms Club offers an impressive two story 15,000 sq. ft. facility with ocean and pool views. A state-of-the art fitness center complete with aerobics room, air conditioned racquetball court, his and her locker rooms, sauna, steam, massage and spa treatment rooms is for owner's pleasure. The Club also offers beautifully appointed meeting rooms, grand boardroom and a business centre. Private social gatherings can be arranged in the terraced entertainment rooms with fully equipped bar and kitchen.
Most residences have ocean to Intracostal through floor plans with private entrances, large terraces, 9 and 10' ceiling heights with floor-to-ceiling energy saving, hurricane impact-glass tinted windows to maximize the incredible views.
Kitchens feature Snaidero Italian cabinetry finished with bull-nose granite countertops, Sub-Zero and KitchenAid appliances.
Luxuriously appointed master bedrooms open to terraces with incredible ocean or Intracoastal views. Spacious bathrooms are complete with Snaidero cabinetry, mirrored vanities, frameless glass enclosed showers and whirlpool tubs.
In terms of location, The Palms is extremely well placed. Shop at the nearby Galleria Mall, or take a short drive to Las Olas Boulevard for boutiques and fine dining for every taste. Public schools and some of finest private schools are within minutes of the community. Easy access to major highways and local airports makes The Palms a perfect choice for year-round or vacation residency.
Visit www.LuxuryRealEstateFtL.com , and key in F892333 to view an elegant listing with fabulous ocean view. Call 954-328-3665 or email Julie@premierestateproperties.com for more information. I look forward to opening the doors of The Palms to you.
The MyFloridaClimate.com website, to which I invite you to visit, provides an opportunity for the People of Florida, as well as people from around the world, to witness Florida's efforts to reduce the devastating effects of climate change. This website provides detailed information on the progress of those efforts. Here are the first half of keeping green tips taken from this site:
Pump up: Properly inflated tires could improve your gas mileage by up to three percent. The average American who drives 12,000 per year could save about 16 gallons of gasoline annually.
Lose the phone book: You're probably using an online directory anyway. So call to stop the delivery of your traditional paper phone book. Telephone books make up almost 10 percent of waste at dump sites.
Forget the receipt: Don't take the ATM receipt. ATM receipts are one of the top sources of litter on the planet. If everyone in the U.S. did not take a receipt from the ATM, it would save a roll of paper more than 2 billion feet long, or enough to circle the equator 15 times.
Stop junk mail: There a variety of vendors online that you can register with to reduce the amount of junk mail you get. Each year, the average American household receives about 1.5 trees' worth of junk mail. Some of the sites cost money to register but it's worth it.
Don't wash your own car: Commercial car washes use up to 100 less gallons of water to wash a car. They often recycle and reuse rinse water. If everyone who washed their own car chose to go to a professional car wash just once, up to 8.7 billion gallons of water could be saved and some 12 billion gallons of soapy, dirty water could be diverted from possibly entering rivers, lakes and streams.
Cool down: Use a warm-cold cycle on your washing machine instead of the hot-hot cycle. You'll save 90 percent in energy used. If everyone in the U.S. did it, it would save 100,000 barrels of oil a day.
Use a water-filter pitcher: Bottled water isn't necessarily cleaner or better for you than tap water. Get a water-filter pitcher or an in-sink faucet filter. Take advantage of what you already pay for and save the environmental cost of transporting bottled water to the grocer's shelf.
Free lint bunnies: The average U.S. household spends up to $135 a year in energy costs drying clothes. A dirty lint filter can use 30 percent more energy to get the job done.
I remain as "green" conscious as I am dedicated to your luxury real estate needs. If I can answer any questions, please call me at 954.328.3665 or email Julie@premierestateproperties.com. Visit http://www.luxuryrealestateftl.com/ to view my fabulous listings.
It's always exciting to decorate a newly purchased residence, or re-design your existing dream home. If you haven't discovered Middle Gallery at 2434 East Las Olas Boulevard, you will be delighted.
Middle Gallery showcases a wonderful and varied collection of Modern 20th Century vintage furniture. Pieces by the greatest designers of the era include James Mont, Vladimir Kagan, Tommi Parzinger, Edward Wormley, Paul Evans, Tobia Scarpa, Venni, LaVerne and many more.
Each and every piece is hand-picked and carefully restored by local artisans to be immaculately presented in pristine condition. Claudia Goetz, the gallery owner, has an interior design background and is pursuing a passion for modern 20th century vintage furniture through the gallery. Claudia's sophisticated taste is reflected in the quality and variety of pieces offered by Middle Gallery. Claudia ensures that time is taken to hand restore each piece to its former condition before presentation to a discerning clientele.
Middle Gallery also offers a new line of custom made furniture, aptly named 'Middle Editions'. These exclusive pieces incorporate precise craftsmanship and design.
In addition to the extensive and elegant selection of furnishings, Middle Gallery has artwork, one of a kind accessories, garden furniture, and wall decorations, including a fabulous range of mirrors.
If you currently have a vacant residence for sale, Middle Gallery also offers furnishings as rentals. Staging an empty dwelling is an excellent way to help buyers visualize your decorated residence as their perfect home.
Middle Gallery is located at 2434 East Las Olas Boulevard (near the Premier Estate Properties' office). Claudia Goetz can be reached at 954-523-4075. Summer hours are from 11 am to 5 pm, Tuesday through Saturday. For a virtual visit, see www.middlegallery.com.
As always, if my expertise can help sell your residence, please call 954.328.3665 or email Julie@premierestateproperties.com.
It is my pleasure to share another exciting incentive enrolled by the governor's office toward making Florida an environmentally sound and beautiful locale for living.
On June 24, 2008, the South Florida Water Management District began negotiating an agreement to acquire as much as 187,000 acres of agricultural land owned by the United States Sugar Corporation to reestablish a part of the historic connection between Lake Okeechobee and America's Everglades.
This enormous expanse of real estate will offer water managers the opportunity and flexibility to store and clean water on a scale never before contemplated to protect Florida's coastal estuaries and to better revive, restore and preserve the fabled River of Grass. Subject to independent appraisals and approval by the District's Governing Board, water managers will invest $1.75 billion in cash and certificates of participation to finance the acquisition of land and assets.
Benefits from the land acquisition would include:
Known as the River of Grass for the saw grass that flourished throughout the marsh, the Everglades is a mosaic of freshwater ponds, prairies and forested uplands that supports a rich plant and wildlife community. Recognized throughout the world for its wading birds and wildlife, the Everglades is home to dozens of federally threatened and endangered species, including the Florida panther, American crocodile, snail kite and wood stork. The mix of salt and freshwater makes it the only place on Earth where alligators and crocodiles exist side by side.
Knowing Florida's officials are taking crucial steps to preserve and protect Florida's beauty for future generations is more than ample encouragement for living in South Florida. I would enjoy answering any of your luxury real estate questions. Call 954.328.3665 or email Julie@premierestateproperties.com. Visit www.LuxuryRealEstateFtL.com to view my fabulous listings.
Looking back on the unprecedented growth in the real estate market for the past ten years, the well-muscled housing prices seemed to have been on . . . well, steroids. While lenders matched loans and interests rates to the swelling real estate market, many observers knew the day would come when the high would hit a low.
An interesting article in Continental Airline's July in-flight magazine called, The Silver Lining Strategy, by Chris Warren, cites real estate developers and investors across the country excited about the new real estate diagnosis.
These professionals see investment opportunities in the downturned market for the past months. They welcome the tightening of the loan market as a healthy move. Lenders will now be more diligent, as in traditional times, over the types of loans they make.
While prospects for excellent real estate investments exist in the Caribbean, Panama, Puerto Rico and other tropical locales, the article mentions one 80 year old investor, Hugh Bromma, founder and CEO of Entrust Group, a nationwide administrator of self-directed retirement plans, who has invested in real estate since 1963. Mr. Bromma points to South Florida's present condition as another golden opportunity in real estate.
One of the areas hardest hit by foreclosures, South Florida now offers an amazing inventory from which buyers can choose. Mr. Bromma claims it is the perfect time to buy that second residence, or for first-time buyers to purchase their dream home.
What it boils down to is attitude. Either the sky is falling, or you can finally touch the stars. The only difference in today's market is to exercise your investment for the long haul. If you plan to purchase a property, pump it up then turn it around for a profit, this is not the time. However, if your goal has been to own a south Florida property, now is the time-especially if you are willing to view your new purchase as a long-term investment.
If I can answer any questions regarding the sale or purchase of luxury property in Fort Lauderdale, please call me at 954.328.3665 or email Julie@premierestateproperties.com. Feel free to visit my website at www.LuxuryRealEstateFtL.com to view current, exciting listings.
Harbor Beach enjoys notoriety as one of Fort Lauderdale's most prestigious addresses. Located on the South East side of Fort Lauderdale between Las Olas Boulevard and SE 17th Street Causeway, the highly desirable communities of Harbor Beach literally span from the beautiful Fort Lauderdale beach to a wide open bay which is home to the Harbor Beach Marina.
Magnificent waterfront estates line the deepwater canals. Several wide, deep building sites are perfect for potential trophy residences. The close proximity to Port Everglades makes Harbor Beach and the neighboring community of Harbor Inlet an extremely popular choice for serious boaters. Imagine walking onto the terrace of your multi-million dollar residence and boarding your motor yacht destined for Bimini Island, just hours away.
Gated and security patrolled Harbor Beach also enjoys the added benefit of the Harbor Beach Surf Club, a tree lined canopy and footbridge down to the 300 feet of private, sun-drenched beach.
The Harbor Beach Marina can be utilized by Harbor Beach owners of dry lot properties or those boaters whose yacht is too large to fit behind their residence, especially if you do not wish to block your fabulous view!
Harbor Beach enjoys some of the highest recorded real estate sales of signature properties among the three hundred residences. To view two spectacular waterfront residences available in Harbor Beach, please visit www.LuxuryRealEstateFtL.com and key in F860310 and F785383. A perfect Harbor Beach point lot estate site with excellent waterway vistas can be seen by keying in F908193.
Call 954.328.3665 and allow me to answer any of your luxury real estate questions, or email Julie@premierestateproperties.com.
The beautiful beaches of Fort Lauderdale's barrier island are almost as diverse as the city itself and one of the premier public access urban beaches in the world, recently recognized as Florida's first "Blue Wave" beach by the national non-profit Clean Beaches Council.
A drive along Fort Lauderdale Beach from South of Oakland Park Boulevard past Las Olas Boulevard will take you alongside the ionic Wave Wall and some of the world's most luxurious and prestigious hotels. The rejuvenation of the beach intends to carry five star standards from the lobby to the sand.
Whether your choice is the convenience and resort amenities of the condominium developments, the care-free ownership of a hotel-condominium or the privacy of a single family beach house, it is all here for you. Feel free to call me at 954.328.3665 or email Julie@premierestateproperties.com for more information on spectacular penthouse and ocean view condominiums available for purchase.
The Northern end of the beaches offers another set of outdoor cultural and recreational activities, including historic Bonnet House, the 20th Century winter home of the Bartlett family. Biking, fishing, canoeing and hiking can be enjoyed at the Hugh Taylor Birch State Park at 3109 East Sunrise Boulevard. The park is linked by tunnel to the beach. Just north of this park is a delightful ocean side community where you'll find a marvelous beachside property available for purchase. Visit www.LuxuryRealEstateFtL.com and enter F929482 to view this special offering.
If you are in search of peace and tranquility, the North end of Fort Lauderdale Beach offers only forty nine single family residences directly on the sand. The direct oceanfront houses form part of a delightful enclave of private residences with beach access. These range from single story beach houses to Mediterranean and contemporary styled newer construction. The choice is yours. I have two exceptional listings in this area. Please visit my website, www.LuxuryRealEstateFtL.com, and enter reference numbers F826674 and F874443 to view these marvelous oceanfront properties.
Governor Charlie Crist and the Florida Association of Realtors aggressively supported the now-passed Amendment 1, originally known as the Save Our Homes Amendment begun in 1995. For those residents unsure of how Amendment 1 affects their real estate plans, here are facts from Florida Realtor Magazine:
•1. January's vote to approve Amendment 1 permits homesteaded Floridians to take their property tax assessment cap of 3% per year with them when purchasing a new residence. This tax portability allows homestead property owners to transfer up to $500,000 in accumulated Save Our Home benefits, including school taxes, to their new dwelling. The calculations change if a buyer purchases a more expensive residence over a less expensive one.
•2. Tax Portability is retroactive to January 1, 2007-good news for clients who upsized or downsized last year.
•3. 94% of homesteaded property owners will double their home value amount exempt from property tax from the current $25,000 to $50,000. However, the second $25,000 exemption does not apply to school taxes.
•4. Amendment 1 provides a $25,000 exemption on tangible personal property for businesses, such as computers and office equipment.
•5. Amendment 1 creates a 10% annual assessment cap on non-homestead property. The cap does not apply to school taxes. After 10 years, voters will have the option to restore the 10% cap.
Current homesteaded homeowners who have lived in their residences for 10 or more years are particularly good candidates for Amendment 1, since the substantial Save Our Home benefits offer the opportunity to "port" tax savings towards purchasing a new home. Given current market conditions and the selection of properties available, this tax portability offers an excellent incentive for buyers and sellers considering a change in their lifestyles to finally mobilize their plans.
For frequently asked questions and/or more information on Amendment 1, please visit www.floridarealtors.org and key word search, "Amendment 1."
Feel free to contact me at 954.328.3665 or email Julie@premierestateproperties.com. I'll be happy to answer any questions on how Amendment 1 affects your real estate needs. To view my luxury real estate offerings, please visit www.LuxuryRealEstateFtL.com.
Julie Jones immigrated from England where every person’s residence is their castle and service excellence is deep-rooted in tradition. Julie currently manages a portfolio of offerings totaling $169M
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