Tag Archives: Florida Real Estate

Fort Lauderdale Real Estate: Apartment Rental Helps Market Survive

Considered as a prime location for many tourists, the city of Fort Lauderdale in Broward County is truly a home away from home.

Fort Lauderdale was a thriving residential market back in the 90’s, but starting to face some problems early this year. The mortgage crisis, as well as the currency devaluation of the U.S. Dollar contributed to the recent decline of the real estate market.

Major government redevelopment projects contributed to the rise of tourism in the area, from beach fronts to river walks, the city still amass a number of tourists enough to provide enough revenue to the city. But this is not enough to bring back the lost profit during the mortgage bust that is occurring nationwide.

Alive And Kicking

The U.S. mortgage crisis greatly affected the state of Fort Lauderdale real estates. The number of foreclosures helped increase the number of unsold residential units in the area, and the median prices of these homes soar every month. Also, the rising interest rates of different mortgage types are hindering the locals from acquiring these real estates for their use.

In order to counter this problem, many developers are converting condo and apartment units into rental to address the demands of people for affordable residential real estate. Analyst observes that if the median price of these residential units doesn’t continue to rise in the next couple of months, the number of unsold homes will decrease as home acquisition increases.

Despite the wobbly status of the market, many real estate firms are now developing additional residential units like apartments, family homes, condos and more. This might be a gamble in a sense, but many analysts’ report that the long term goal of these projects might be beneficial in the long run.

Finding The Right Home In Fort Lauderdale

Whether visiting the city for leisure or planning to settle down permanently, Fort Lauderdale offers an abundance of residential units that will surely let you enjoy your stay. If you plan in advance, you can search online sites that feature various apartments, condos and family homes in the city.

You can directly contact real estate agents in Fort Lauderdale if you wish to inquire about the current situation of the real estate market, while looking for the best deals in home acquisitions.

And since many of these realtors are affiliated with financing institutions in the city, you can go ahead and inquire on the loans available the will suit your budget, as well as the interest rates that goes along with it. You might need to settle your credit report, first hands, and check your credit scores whether they meet the requirement for a loan, or not.

Even if the real estate market in Fort Lauderdale is in a decline due to the housing slump that hit the nation, the locals are giving it a good fight to keep the real estate market alive and kicking.

Vanessa Arellano Doctor
HomeTerra Fort Lauderdale


Miami Condo Market: Surviving Despite Market Decline

Considered as one of the top tourist attractions in the known world, Miami is flocked to the brim with tourists every year. From the sandy beaches to exotic nightlife, Miami is indeed a perfect place to relax and enjoy a time-off from the busy routine of work.

Many real estate firms converted a vast number of residential areas, like apartments, to high-rise condos to accommodate visitors flocking into the city. They believe that this is a lucrative business, and will never run out – but they were wrong.

Miami Real Estate Market On Steep Decline

Since 2006, Miami, as well as the rest of the states, experienced a decline in the real estate market. The number of foreclosures increases every year, which adds to the number of unsold real estate units.

There are many factors that contribute to the decline of real estate market in Florida. The interest rates of many financial lenders increased over the years, making it almost impossible for local residents to get a loan to finance residential real estate acquisitions. Also, the devaluation of the U.S. currency made real estate market an almost impossible lucrative venture.

Too Many Condos

One of the blunders which contributed to the Miami real estate decline is the number of condo units. The construction of many high-rise condos can be seen all over the city, and when finished, adds to the increasing number of unsold homes.

This kind of investment is taking a hard toll on many real estate companies as they try different methods to attract clients to acquire these units; being hard-pressed as to lower their prices to increase the chance of making the deal sweeter to the locals and foreigners alike, is starting to take its tolls on their finances.

Miami Condo Price Decreases

Since the U.S. Dollar value declined, many foreigners are now eyeing the prices of Miami condos with interests. Canadians and Europeans are now flocking into the city to buy these condos units at lower the cost.
The locals are starting to notice the decrease of prices in many real estate properties around the city. Though the affordability is still slim considering the high interest rates of different mortgage types, the glimmer of hope in condo acquisition is on the rise for these individuals.

Also, the increase in demand of additional workforce for the city contributes to the rising need of residential units. Currently, the median prices for condo in Miami are, more or less, $200,000. Condominiums are now being considered as cheaper compared to single-family residential properties; thus, the popularity for Miami condo increases every year.

The real challenge, however, to survive the real estate market despite the economic crisis is how each of these agencies will create an affordable market for real estate properties to the rising demand of the public.

Vanessa Arellano Doctor

Real Estate PR

Siesta Key Real Estate Options To Consider

The city of Sarasota is considered to be one of the most vibrant mid-sized cities in the state of Florida.

According to a survey by Money Magazine, the city ranks among the nation’s 15 most desirable areas to live,as the county enjoys a prime location on the West Coast of Florida, which is about 60 miles south of Tampa and is a mere hours away from Orlando’s Disney World.

The city’s 36 miles of coast line are home to the world’s finest, pristine whitest-sand beaches. The city is also home to a number of barrier islands, called Keys, which offer both wonderful real estate options, as well as excellent areas for swimming, water sports, and other leisure activities.

Property Options In Siesta Key Are Wonderful

One of the city’s famous keys is Siesta Key. This area offers one of the best vacation and second home property options here. Many housing and investment observers see living in Siesta Key as a truly good deal, as the area offers upscale waterfront homes, condo units, and upscale apartment developments.

For businessmen, retirees and families seeking wonderful vacation homes, the place offers a wonderful array of investment choices, wherein your family can live in a comfortable beach atmosphere and have the privilege of using many watersports and leisure facilities.

The Key is famous for its offering of upscale, elegant condominium developments, and the most favored units here are the ones that are located near the beach. Prospective owners would surely enjoy living in close proximity the area’s fine white sand beaches, and most developments offer a wide array of amenities, and the units are offered in varying prices.

Tips Before investing In Sarasota Properties

For investors, the abundance of real estate options in this city would surely make your heads turn, and sometimes will make your thoughts spin in deciding which ones to choose.

Before investing in a wtaerfront home, apartment or condo unit, it would be better to first ask for advice from local property brokers, local housing agency officials, or agents of Multiple Listing Services (MLS) sites. The city has many property brokers who could assist you in finding suitable investment options, and can also assist you in evaluating each offer, as well as help you in crafting the best possible financing options for you real estate investment.

Siesta Key is a lovely 8-mile long barrier island located off the coast of the city. The place is connected to mainland Sarasota by two bridges, which makes it very convenient for residents to go to town and run some errands, or do some shopping in the city’s fashionable shopping districts.

The beaches in this Key are actually rated as one of the most attractive and beautiful beaches in the world. And the area also offers tourists and residents alike with wonderful facilities for just about every type of sporting or leisure activity such as bating, swimming, sailing, fishing, jet skiiing, dolphin tours, and sunset cruises. The Key is also home to many condo developments, and they outnumber the single family homes and dominate the beach area.

Vanessa Arellano Doctor

Buying In Miami: Some Advice

Individual home units are slowly dwindling, owing to the fragile condition of the economy. These homes often are priced in thousands or hundreds of thousands of precious dollars. The present trend is to find a place that, though not detached, will provide the much-coveted privacy, yet will offer accessibility to the amenities of urban living.

Such is the perception of living in a condominium (or condo as it is popularly referred to). The condo consists of several homes that stand on one land. The condos offer affordability. True, it is not a separate and detached property with its restrictions; and yet these restrictions maintain and enhance the value of one’s properties with its elaborate security set-up to protect its residents.

In today’s endless hustle and bustle, one wonders where in this world you can build a place called HOME, for peace and quiet to savor the fruits of your labor and yet keep abreast with the hectic pace of progress; a place where an extra hour of relaxation invigorates the mentally and physically battered mind and body; a place where diverse businesses flourish and entrepreneurship never falters such that even retirees have endless opportunities of being productive instead of wasting away their life waiting for pensions. There is indeed such a place, thank God!

Miami Beach

Miami Beach was incorporated on March 26, 1915 and is a distinct municipality of Miami Dade County in Florida. It has a population of less than 100,000. Being an island it boasts of white sands and vistas of the palm trees, sun, and majestic waters are truly picturesque. Business opportunities abound. Its being sound can be gleaned from the vibrant nightlife it offers. Indeed, Miami Beach is an island that mingles with urban life.

Some Advice

Here are some advice to whoever wants to buy a luxury condo in Miami Beach:

FIRST: KNOW WHAT YOU WANT. There are specifications for every unit that will satisfy what you require.

SECOND: Inquire the present selling rates so that you can adequately prepare your finances. What you want may not be within the reach of your pockets.

THIRD: Buying condos can be compared to air fares. There are “Peak Seasons” and “Off-Peak Seasons” in the condo market. Be aware of these times, so you know when to initiate negotiations. real estate agents know this. Inquire from reputable firms that deal with real estate.

FOURTH: Be patient when negotiating. Rushing towards what you believe are rock-bottom prices may in fact be an over price. Being patient increases your negotiating power such that you may bring down the price lower than what you have originally prepared.

FIFTH: Be dressed smartly and appropriately for the negotiations. Sellers can gauge your bargaining power from the way you are dressed. But don’t overdo it, or they’ll end up assuming you can afford more than you actually can and slap you a high rate.

FINALLY: Keep in mind that as demand for luxury condo units increases, prices will also go up leading to its APPRECIATION and attaining what is called a HOME.

Vanessa Arellano Doctor

Florida Gov Rallies For Tax Amendment

With surveys indicating that the passage of a property tax amendment is no sure bet, Florida Gov. Charlie Crist spent Wednesday barnstorming across the state and trading accusations with opponents about the true impact of the measure that goes before voters on Jan. 29.

Crist hit major media markets in Central and South Florida, telling voters that the property tax amendment would be good for Florida’s economy. However, the fate of the amendment may come down to who voters believe more: Crist or the labor unions and local officials who contend the amendment would be devastating to schools, police and fire services.

A recent internal poll done by Yes on 1, the political committee backing the amendment, showed it passing with a razor-thin 60.3 percent, just above the 60 percent threshold required to pass constitutional amendments.

”I think the governor is being disingenuous. I don’t think he’s telling the people the real ramifications of his tax amendment,” charged Fred Frost, president of the South Florida AFL-CIO, which on Thursday morning plans to hand out leaflets to workers at Jackson Memorial Hospital and BellSouth offices in Miami.

But Crist fired his own salvos right back at critics of the amendment, decrying what he called ”ludicrous” scare tactics. ”I wish they would start telling the truth to people,” said Crist as he stood in front of the three-bedroom home of Giselt Matos in the Miami neighborhood of Westchester.

Vanessa Arellano Doctor