Non-Foreclosure Short Sales

For those of you who have worried about stopping your mortgage payments and then being turned  down by the bank for a short sale, help may now be available.  According to an article in today's Sun-Sentinel, Non-Foreclosure Short Sales have increased in Broward County.  One reason for the shift in attitude may be attributable to a desire to cut down on the lenghty process that in the past has sometimes lingered on for years.   Another is that lenders are able to comply with the terms of a $25 billion national mortgage settlement.

This all translates into good news for homeowners who don't want the stress of uncertainty.  As many know, the decision to stop paying the mortgage is fraught with stress and anxiety and frankly who needs more of that. 

OCEAN FRONT CONDO AVAILABLE AT HILTON FT LAUDERDALE BEACH RESORT

I've been out of town so please excuse the break in blogs - even realtors need a vacation!

But, now I'm back and have listed a spectaQular ocean front condo at the Hilton Ft Lauderdale Beach Resort.  Unit 2017, located on the Southeast corner, offers an incredible direct as well as North and South views of the ocean and the beach.  The floor location is perfect - you are high enough to miss the traffic noise and yet have a wonderful vantage point for all that is occurring on the beach below.  it's possible to catch a glimpse of the sea life swimming by and wave good bye to the cruise ships steaming out of Port Everglades.  And that's before you step out of your suite.

The Resort amenities complement your visit and the staff will make you feel welcome every time you choose to vacation in your condo.  Enroll in the Resort Rental Program and your condo can be rented to guests of the hotel when you are not in residence.

Unit 2017 is the ONLY ocean front unit on the market and will probably be one of the last for sale in this line, so call today (954-205-4137) to discuss your purchase and the start of your next vacation.

Dining on Ft Lauderdale Beach

When I'm on vacation, one of the first things I think about is - where am I going to eat?  It's a huge priority.  You'll find lots of places to eat on the beach, and lots of them are fun & good.  But, there is a little gem that recently opened that I want to tell you about because you have got to check it out.

Plaza Bistro, on the corner of Breakers Ave and Belmar Street (Breakers runs parallel to A1A behind the luxury hotels) is fairly new and if you didn't know it was there, you might miss it.  The Bistro offers a wide selection of Italian fare from salads to pasta, brick oven pizzas, and desserts.  And, it serves breakfast on weekends.  All seating is outdoors under huge umbrellas surrounded by lush foliage and all menu items are prepared on-site. 

Do yourself a favor the next time you're in Ft Lauderdale - stop by the Bistro, have a glass of wine, peruse the menu, and Enjoy!



 

Housing Prices Are on the Rise on Ft Lauderdale Beach

While indices are pointing to a rise in housing prices that is not new news to buyers of Q Club Luxury Condos at the Hilton Fort Lauderdale Beach Resort.  Prices have increased even as inventory has shrunk.  The rock bottom prices of the last two years are non-existent and buyers looking for those numbers are disappointed.  

Does that mean that you should put off buying - absolutely not - prices will continue to rise and buyers who let a property slip by will only pay more for the next opportunity.

Properties at good prices are constantly coming on the market, but you have to know what you're looking for and be ready to make an offer.  Call me to discuss your criteria and let's get you started on the quest for a great property in Ft Lauderdale.

It's Official - New Condo-Hotel in Hallandale!

Well it's official - Jorge Perez's development group has received final approval to build Beachwalk, a $100-million, 31-story condo-hotel complex on the Intracoastal Waterway.  The building will contain 216 two-bedroom condo-hotel suites, 84 residential units, a 1,225-square-foot restaurant and a five-story parking garage.

The Hallandale Commissioners also approved Perez's development of a park on the with restaurant and concessions on a city-owned oceanfront property.

Condo-hotels have been the subject of short sales and foreclosures over the last couple of years so you  might be surprised that Perez is going in this direction.  However, with financing nearly non-existent for this type of property, all purchases should be in cash. 

Perez is a visionary, always ahead of the pack.  Let's keep an eye on this project because I imagine sales will be brisk.

Condo-Hotel to Rise in Hallandale?

On Wednesday, June 18, 2012, the Hallandale Beach Commission gave tentative approval to Miami developer Jorge Perez to develop a $100M,  31-story hotel-residential complex on the Intracoastal, at the site of the former Manero's restaurant. The project, known as Beachwalk, will feature 216 two-bedroom suites that could be hotels room or condos and 84 units that will be strictly condos. 

The project will also include a 1,225 square-foot restaurant and a five-story parking garage.

Among other items on the table are various zoning exemptions as well as control of a one-acre oceanfront parcel that would be developed into a park with at restaurant.

Needless to say, there is opposition to the project, but the final approval should come on June 20. 

Want a condo-hotel unit in Hallandale?  Stay tuned - you may be able to buy in early. 

Construction at the Hilton Fort Lauderdale Beach Resort

Construction is underway at the Hilton Fort Lauderdale Beach Resort.  Tim Petrillo's new restaurant, S3 (Sun, Surf and Sand)  is starting to take shape on the Northeast corner of the Resort.  The location will take advantage of the spectacular view as well as the foot traffic on the Boulevard. 

It's going to be the perfect spot for both resort guests and locals as the design calls for a large outdoor eating area with an oversized bar.

We'll keep watching for signs of progress.

Short Sales on Ft Lauderdale Beach

We've all heard the news that the banks are holding that "shadow inventory" and will be releasing a barrage of properties sometime in 2012.  According to a recent article in the Sun-Sentinel, banks are holding those properties off the market with an eye to increasing the prices.

Currently, of the 300 condos listed in the Ft lauderdale Beach area, only 7 condos are listed as short sales, one of which is a penthouse listed for $7,499,000, and 3 units are listed as foreclosures.  Of the 55 single family homes on the market, four are listed as short sales, and there are no homes in foreclosure.

So to the question"Is now the time to buy" - I'd say yes.  If you are considering buying, now would be a good time to get in the game.  And if you are a seller, think about listing now, ther are buyers out there just waiting for property.

Oceanview Condo on Fort Lauderdale Beach

I just lowered the price on a studio at the spectacqlar Hilton Fort Lauderdale Beach Resort. This condo hotel has 333 units many of which have already been re-sold. Unit 712 is located on the North side of the building and has a great view of both the ocean and the Intracoastal.

Priced at $190,000 - you've got to see this! Call me at (954) 205-4137 and let's make it happen for you.

Wind Turbines on the Hilton Fort Lauderdale Beach Resort

You'll soon see Wind Turbines on the roof of the Hilton Fort Lauderdale Beach Resort.  The turbines are in line with Hilton's world-wide committment to conserve energy.  The comments have been mostly positive since the installation is in line with the North Beach Village concept.  What do you think?

http://www.sun-sentinel.com/business/fl-wind-hilton-lauderdale-20120614,0,6284655.story     

Short Sales are Expected to Speed up Soon

See below the New York Times article reporting that short sale are expected to speed up.  Although it won't apply to all properties, maybe it will spur on the rest of the industry - we can only hope

WASHINGTON – May 30, 2012 – The short-sale process is expected to get shorter starting June 15. New guidelines issued under the Federal Housing Finance Agency will require Fannie Mae and Freddie Mac to give homebuyers of short sales notice of their final decision within 60 days. The new guidelines also will require the mortgage giants to respond to initial short-sale requests within 30 days of receiving an offer.

The speedier process is expected to be a boost to the housing market, Michael McHugh, president of the Empire State Mortgage Bankers Association, told the New York Times. Homebuyers and sellers often have to wait months before they receive a short sale decision from a lender. Some deals fall apart just from the wait alone.

Short sales have been increasing in recent months as many lenders find them more appealing than foreclosures, which can cost more and take longer to remove from their books.

Short sales now outpace foreclosure sales in many parts of the country. Short sales represent more than 14 percent of existing-home sales, according to CoreLogic housing data from March, the most recent month available.

McHugh says that a faster short-sale process may be particularly helpful in speeding the recovery in judicial states, where foreclosures must go through the courts before they are approved. Now short sales may be viewed by defaulting homeowners as more of an option if they want to avoid foreclosure.

“There should be a significant improvement in the turnaround,” McHugh said regarding housing markets with judicial foreclosure processes.

Source: “Speeding Up Short Sales,” The New York Times (May 24, 2012)

© Copyright 2012 INFORMATION, INC. Bethesda, MD (301) 215-4688

Penthouse For Sale On Ft Lauderdale Beach

The penthouse at the Q Club Luxury Condominiums located in the Hilton Fort Lauderdale Beach Resort is for sale.  The view from this unit is spectacular.  When you open the door, the floor-to-ceiling windows treat you to views of the blue waters of the Atlantic, the beach, the surrounding community, and downtown Fort Lauderdale.

At 2,740 square feet, this 3-bedroom, 3.5 bath fully furnished unit has plenty of room to enjoy the view, relax, or, if you must, conduct that business meeting.

Resort amenities are available including a tropical pool deck with swaying palm trees and cabanas, concierge, room service, valet service, business center, and on-site bar and restaurants.  The hotel offers management and revenue sharing .

Offered at $1.8M  Call me at (954) 205-4137 to set an appointment for viewing or to make an offer.

See the May issue of Tropic magazine for pictures.

Weather si still perfect on Ft Lauderdale Beach

Mother Nature is giving us another beautiful so please enjoy it, but keep an eye on Beryl.  Be safe on the beach, the highways, or at the pool.

Memorial Day Weekend on Ft Lauderdale Beach

Are you going to be in Ft Lauderdale over the Memorial Day weekend?  If so , you are going to want to check out the Great American Beach Party on Saturday at A1A and Las Olas Boulevard.

Live Bands - Art Show - Parachute Team...and Lots More!
Visit www.FortLauderdale.Gov for the complete details

See you there!

Lauderdale's North Beach

You may not know that the neighborhood between Sunrise and Las Olas Boulevards in Ft Lauderdale is called the "North Beach", but you will hearing a great deal about this area in the future.  The neighborhood is enjoying a face lift, a resurgence, a renaissance - call it what you will, but be sure to enjoy all that it has to offer. 

The Sun-Sentinel article featured here is full of good information - read on! 


Boutique hotel Aqua opening in Lauderdale's North Beach Village

Welcome

Welcome to my blog about Ft Lauderdale Beach.  I will periodically be updating my blog with useful relevant real estate information.