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The city of Fort Lauderdale in Broward County, Florida has more to offer than just the wonderful, sunny climate and pristine with-sand beaches. And while these are obviously one of the best attractions of the area, the city is also a vibrant business, educational and cultural destination.

The metropolis is famous for being known as the Venice of America, and has over 300 miles of waterways, so getting a home on a waterway or canal would not be as hard as one might think, and there are currently many options available for prospective home buyers, despite the glitches created by the current US housing market crisis.

Current Home Sales And Inventory Figures

The real estate agent's association of Ft. Lauderdale has provided a more current observation of real estate trends and news, which shows the current home sale listings and price trends.

According to recent property values and home sales information, for new listings, single family units amounted to 1,881, which is 7% lower than 2007, a year ago was 37% higher. For condos and townhouses, the listings were 2,333, and these were 17% lower than in 2006.

For total available inventory levels, single family homes were pegged at 12,142, which was 14% higher than in 200, for condos and townhouses, the inventory levels were at 16,438, which was 12% higher than in 2007. Close sales for single-family homes were placed at 391, and these were 35% down from 2007, and a year ago it was up 1%. The city’s median sales price is $325,000, and was down by 7% from last year .

Has The Local Market Shifted To Favor Buyers Now?

According to real estate analysts, Fort Lauderdale's residential real estate market has began to shift from being a seller's market, where home prices rose up by 20% to 30% each year, to one that is now being viewed as a robust and vibrant, yet a more equitable environment for home buyers. In retrospect, in June 2006 there were more than 20,000 homes and condominiums on the selling block in the whole of Broward County, so with the high levels of home inventories, many consider this to be a good time to buy homes.

The out-of-state markets in Pembroke Pines, Weston, Miaramar, Davie and this city, however will take a little longer to slow down, because of the high-income levels of the residents in this bracket, and a small rise in interest rates should not be able to totally deter most of these folks from buying.

A more beneficial economic environment has helped Fort Lauderdale institute itself as a major state and global business center, with more commercial zones for new or expanding businesses and multinational firms. While formerly renowned as a tourism destination, this city now is supporting a wider array of industries, which include manufacturing, finance, logistics, insurance, real estate, high technology and aerospace, as well as film and television production.

The city's lovely Riverwalk serves as the the area's arts and science, cultural, and historic district, and features the Broward Center for the Performing Arts, the Museum of Discovery and Science, the Museum of Art, and also the Old Fort Lauderdale Village and Museum.

Imagine this: You're smack in bed asleep, in your newly rented Miami condo, only to be awakened by someone knocking at your door first hour in the morning. You suddenly find out that on the other side of that door is a sheriff, who is there to serve your landlord one of many Florida foreclosure notices.

As sad as it may seem, this unfortunately is all too common a scene to many tenants of South Florida condominiums. While many say that the housing slump is not going to be that protracted and bloody, just how is it felt in many condo households in the Miami-Dade area?

Housing Market Prospects For 2008

As we go into the early months of 2008, the housing market in this vibrant and diverse area of the state, is seeing a large number of condominium developments with hundreds of millions of dollars in defaulted mortgages, and are struggling to keep their heads afloat.

According to housing market analysts, in the 20 condo developments in Miami-Dade and Broward counties with the largest numbers of units in foreclosure, the number loans in default accounted to more than $271.8 million. Along Miami's Brickell Avenue, in the financial district, one will find out that three of the top five buildings that are going through foreclosure, as the place has been jokingly referred to as the 'Florida foreclosure district'.

The percentage of units in foreclosure widely varies, among the 20 buildings ranked at the top. For some large condo developments, a large number of units in foreclosure however still represents a lesser portion of the overall building in some of Miami’s larger condo buildings.

From an investment standpoint, there were positive expectations of how spectacular Brickell was going to be, however the widespread mortgage fraud involving inflated appraisals and speculators had led to the nauseating rise in defaults and property foreclosures in the state as a whole. One local Miami property broker even joked that "These buildings are notorious because the fraud was so prevalent".

Many Are Hopeful That Conditions Will Quickly Improve

For buyers who are that are looking for a bargain in Miami-Dade County will be happy to know at least that these opportunities only get better as the construction of some 10,000 units is finished, contributing to the glut.

However, in the meantime, the residents of condos in the Miami metropolitan area that have high foreclosure rates are living with the burden of vacant units, and some even face special assessments and increases in the in maintenance fees from community associations that have widening budget shortfalls. Some condo homeowner associations are still struggling to cover expenses because a large segment of their residents are behind on fees and other payments.

As a result, homeowners and other members could see unkempt gardens and grounds, and other disruptions in basic services, such as a cut-off in cable and internet service. Some of these building's tenants however say they aren't worried, and they are in this for the long haul. A lot of condo owners and renters still have high hopes that they will prosper in the end, and eventually profit from their investments.

The city of Sarasota in Florida, hailed by Money Magazine as the "best small city in America," is an ideal destination to build a viable real estate investment, and many consider investing in the area's wide array of real estate as a truly wise decision to make. Purchasing or selling homes is considered as one of the most major events in one's life.

Once one buys a home, they'll be able to have a personal place to call their own, and more space to store their belongings into. The city has a vibrant property market, and the homes on sale here range from standard bungalows to apartments, townhouses, condos and waterfront estates.

From Large, Activity-Filled Developments To Quiet Neighborhoods

Real estate options on this city vary from upscale and fabulous beachfront condo developments, tree-lined fairways and waterfront estates, active, amenity-filled housing projects to quaint and quiet neighborhood homes.

Real Estate Options in Longboat Key

Longboat Key is a barrier island located on Florida's West Coast. The key lies within 2 counties. The island is surrounded by the Gulf of Mexico on the west and Sarasota Bay on the east.

There is an estimated 8,000 permanent residents in this area, and this grows to approximately 20,000 during the peak tourist season. The real estate choices here consists of single family homes and condominiums. The Key has also a complete mix of shopping centers, banks, restaurants, food stores, clothing shops and fashion boutiques, spas, sports facilities and gas stations.

The island's architectural styles are eclectic, and these range from classic Florida and Spanish Mediterranean to modern, contemporary mansions. In many areas of the Key, the older, early 20th-century homes are now either being repaired, restored or replaced with mini-mansions and elegant estates.

Blessed with having a year-round temperate weather and fine sandy beaches, Longboat Key's condominiums provide for a relaxing, maintenance-free lifestyle that leaves homeowners with lots of extra time to enjoy all the outdoor activities in this area. The area’s resort communities such as Water Club, Beaches, and Grand Bay also offer tourists and residents a wonderful array of upscale amenities and luxury living.

Why Many Are Lured To The City's Islands

Many individuals and investors always have been interested in acquiring barrier island homes, especially on Longboat Key, Lido Key, Casey Key and Siesta Key, and also in the downtown Sarasota district, where a lot of developments are going on.

Some of the most prized properties in the city include Longboat Key's La Firenza, which offers estates that have direct views of the ocean, and these have prices ranging from $3.5 million and up, and the Founders Club, which is also an exclusive golfing community located east of Interstate 75.

Aside from the area's wonderful white-sand beaches, located a few minutes drive to the mainland are many modern amenities and activites, and most Longboat Key residents drive to the downtown area to see the famous art galleries and museums, lush tropical gardens, cultural performances by the Sarasota Symphony Orchestra and much more.

The Island offers easy access to the downtown district while affording residents the chance to live in a truly wonderful resort-like setting. For those who really like shopping, head on to St. Armands Circle to leisurely look through the many fashionable boutiques, apparel stores and gift shops.