Great Florida Homes Blog

I was driving back from showing property on the beach to the West where I live on the edge of the Everglades .  It is only 12.5 half miles but takes about 30 minutes.  I was surprised over the good time I made in spite of the rush hour traffic time.

It was probably the day dreaming that I was doing, thinking how lucky I was to live in such a beautiful part of the world.  (My Dad was a pilot and we travelled around the world multiple times as well as lived overseas for a while, so I've had enough exposure to have an opinion.)

Thinking...what if I didn't live here and knew what I know about the area, where would I want to go if I came for a visit?

The first place that comes to mind for most people coming to Florida is the beach.  My favorite beach in Broward county is Deerfield Beach.  Why, because I don't like the sand (it makes a mess out of your car ;-)  Deerfield Beach has beautiful grassy areas just above the sand with palm trees and a public restroom at the fire station, PLUS Great places to eat and drink!

My second choice would be Fort Lauderdale beach down by the Yankee Clipper hotel or up by Beach Place that also has some great restaurants.

Next choice would be Pompano Beach.  This was the kids favorite place when they were little because it had a playground.

For Palm Beach, I have even more choices, where Jeff has us join him and his family to enjoy his wave runner on lakes and the ocean.

Stay tuned for more favorite places to visit!

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY
March 1, 2009 to March 31, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs, Deerfield Beach,
Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, Parkland, Plantation,
Sunrise, Tamarac and Weston.

There are currently ­­­­­12,657 Single Family Homes LISTED FOR SALE in Broward County.

­­­5577 priced under $250,000
 4176 priced between 250,001 and $500,000
1132 priced between $500,001 and $750,000
599 priced between $750,001 and $1,000,000
493 priced between $1,000,001 and $1,500,000
260 priced between $1,500,001 and $2,000,000
417 priced over $2,000,000

For the month of March, 791 Single Family Homes SOLD in Broward County. 

464 were sold under $250,000
252 were sold between 250,001 and $500,000
40 were sold between $500,001 and $750,000
13 were sold between $750,001 and $1,000,000
9 were sold between $1,000,001 and $1,500,000
8 were sold between $1,500,001 and $2,000,000
4 were sold over $2,000,000

There are currently 18,455 Multi-Family Homes LISTED FOR SALE in Broward County.  Multi-Family
Homes include condos, town homes, villas, coops, all attached and or unattached as well as
single story to multi levels.

13,808 are priced under $250,000
2914 are priced between 250,001 and $500,000
773 are priced between $500,001 and $750,000
432 are priced between $750,001 and $1,000,000
279 are priced between $1,000,001 and $1,500,000
146 are priced between $1,500,001 and $2,000,000
102 are priced over $2,000,000

For the month of March,  881 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi family homes are located in Adult only communities
with an over the age of 55 requirment to live there.

788 were sold under $250,000
67 were sold between 250,001 and $500,000
16 were sold between $500,001 and $750,000
6 were sold between $750,001 and $1,000,000
4 were sold between $1,000,001 and $1,500,00
None were sold between $1,500,001 and $2,000,000
None were sold over $2,000,000

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth,  Wellington and West Palm Beach.

There are currently 9446 single family homes listed For Sale in Palm Beach County.

­3212 priced under $250,000
3211 priced between 250,001 and $500,000
1014 priced between $500,001 and $750,000
622 priced between $750,001 and $1,000,000
437 priced between $1,000,001 and $1,500,000
318 priced between $1,500,001 and $2,000,000
632 priced over $2,000,000

For the month of March, 464 Single Family Homes SOLD in Palm Beach County. 

270 were sold under $250,000
139 were sold between 250,001 and $500,000
19 were sold between $500,001 and $750,000
12 were sold between $750,001 and $1,000,000
10 were sold between $1,000,001 and $1,500,000
4 were sold between $1,500,001 and $2,000,000
10 were sold over $2,000,000

There are currently 554 Multi-Family Homes LISTED FOR SALE in Palm Beach County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

2795 are priced under $250,000
1689 are priced between 250,001 and $500,000
474 are priced between $500,001 and $750,000
251 are priced between $750,001 and $1,000,000
171 are priced between $1,000,001 and $1,500,000
62 are priced between $1,500,001 and $2,000,000
102 are priced over $2,000,000

For the month of March, 531 Multi-Family Homes SOLD in Palm Beach county.

52 were sold under $250,000
35 are sold between 250,001 and $500,000
10 were sold between $500,001 and $750,000
3 were sold between $750,001 and $1,000,000
None were sold between $1,000,001 and $1,500,000
2 were sold between $1,500,001 and $2,000,000
1 was sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale
and the Realtor Association of the Palm Beaches.

 Significantly less listings for Broward and Palm Beach County and an Increase in sales, for both multi family and single family homes.  On a personal note our sales increased for the month of March by more than double.

      For a short sale property it means the bank has to agree to let the homeowner off the hook for the mortgage amount owed that is less than the purchase price offered.

Example: 
Mortgage Amount $250,000
Current Home Value $150,000
Bank Needs to Forgive the $100,000 Difference, PLUS cover the added closing costs.

It gets sticky on the added costs part, because sometimes they STICK IT to the Buyer.  Liens such as water, electric and other city or subdivision issues. 

There are no hard rules for short sales.  Each bank is different, as is each transaction. 

Additionally the timing can be from a couple of weeks if it is an "Approved Short Sale with an Approved Price", to four to five months for one that is just getting started in the lenders approval process.  Everything depends on how far along the homeowner and the lender are in the process.

The "PROCESS" includes a hardship letter that is submitted to the lender, explaining why the homeowner cannot keep up with their obligations to the lender.

Tax Returns, Income verifications, Appraisals etc.  What takes so long or can take so long is the fact that many of these loans are wrapped up with multiple investors that the banks had sold the loan packages to.  Each of them has to be contacted and agree to the reduction in their profit.  Depending on how many are involved, this can take months and the listed price is not always approved by the sellers banks, until they have there own current appraisal completed. This can result in the sellers bank asking for a higher purchase price then what was offered by the buyers.     

If the process is not being handled by the sellers attorney, title company, or an agent who has short sale experience, we recommend steering clear of these transactions.  It is rare that a homeowner can get this process completed on their own. 

This is the short version of the process.  Some you should run from and some are worth the risk.  It is a case by case basis.

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY
February 1, 2009 to February 29, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs,
Deerfield Beach, Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, 
Parkland, Plantation, Sunrise, Tamarac and Weston.

There are currently­­ 13,193 Single Family Homes LISTED FOR SALE in Broward County.

­­­5958 priced under $250,000
 4481 priced between 250,001 and $500,000
1188 priced between $500,001 and $750,000
613 priced between $750,001 and $1,000,000
524 priced between $1,000,001 and $1,500,000
264 priced between $1,500,001 and $2,000,000
429 priced over $2,000,000

For the month of February, 565 Single Family Homes SOLDin Broward County. 

364 were sold under $250,000
142 were sold between 250,001 and $500,000
31 were sold between $500,001 and $750,000
8 were sold between $750,001 and $1,000,000
12 were sold between $1,000,001 and $1,500,000
4 were sold between $1,500,001 and $2,000,000
4 were sold over $2,000,000

There are currently 19,024 Multi-Family Homes LISTED FOR SALE in Broward County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

4977 are priced under $250,000
3070 are priced between 250,001 and $500,000
808 are priced between $500,001 and $750,000
444 are priced between $750,001 and $1,000,000
270 are priced between $1,000,001 and $1,500,000
152 are priced between $1,500,001 and $2,000,000
106 are priced over $2,000,000

For the month of February, 634 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi family homes are located in Adult only communities with a over the age of 55 requirement to live there.

568 were sold under $250,000
52 were sold between 250,001 and $500,000
6 were sold between $500,001 and $750,000
4 were sold between $750,001 and $1,000,000
2 were sold between $1,000,001 and $1,500,00
1 was sold between $1,500,001 and $2,000,000
1 was sold over $2,000,000

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth,  Wellington and West Palm Beach.

There are currently 10,579 single family homes listed For Sale in Palm Beach County.

­­3842 priced under $250,000
3593 priced between 250,001 and $500,000
1067 priced between $500,001 and $750,000
661 priced between $750,001 and $1,000,000
457 priced between $1,000,001 and $1,500,000
326 priced between $1,500,001 and $2,000,000
633 priced over $2,000,000

For the month of February 314, Single Family Homes SOLD in Palm Beach County. 

180 were sold under $250,000
97 were sold between 250,001 and $500,000
18 were sold between $500,001 and $750,000
7 were sold between $750,001 and $1,000,000
6 were sold between $1,000,001 and $1,500,000
None were sold between $1,500,001 and $2,000,000
6 were sold over $2,000,000

There are currently11,774 Multi-Family Homes LISTED FOR SALE in Palm Beach County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multiple levels.

8927 are priced under $250,000
1769 are priced between 250,001 and $500,000
488 are priced between $500,001 and $750,000
250 are priced between $750,001 and $1,000,000
172 are priced between $1,000,001 and $1,500,000
69 are priced between $1,500,001 and $2,000,000
99 are priced over $2,000,000

For the month of 451, February Multi-Family Homes SOLD in Palm Beach county.

316 were sold under $250,000
23 are sold between 250,001 and $500,000
6 were sold between $500,001 and $750,000
5 were sold between $750,001 and $1,000,000
2 were sold between $1,000,001 and $1,500,000
1 were sold between $1,500,001 and $2,000,000
1 are sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale
and the Realtor Association of the Palm Beaches.

Broward shows a large decline in listed single family and a small decline in multi family homes.  For closed sales more units have sold than the previous month and with listings down overall this is a positive sign.

In Palm Beach a small increase in listings for single family and multi family homes.   In closed sales for Palm Beach the single family homes were a small increase and nearly double in sales for multi family.

The past three weeks we felt as if a Buyer tree sprouted in the Backyard and everyday we wake up and There are new Buyers taking advantage of the plethora of inventory while the "pickens" are good.  Once everyone knows about it the choices won't be as good.  

The best news is...that the bottom of the market is......when people start buying.  These last two months are very positive indications of this trend.

        I live in South Florida but I am promoting a FABULOUS restaurant in Jacksonville (North Florida)!  Food and service like this must not go unknown!!

The Millhouse at 1341 Airport Rd in Jacksonville, Florida

This is the link to their menu  http://www.millhousesteakhouse.net/menu.html

I flew into Jacksonville headed to Savannah, Georgia for the weekend with my Honey.  Hungry before getting on the highway and not wanting the typical chain restaurant, we pulled into Millhouse (More Than A Steakhouse).

Will, was assigned as our waiter, He was informative and full of suggestions.  I fancied a Pasta Dish (I know, "When in Rome, do as the Romans do"), but Joel was having the HUGE 18oz, Prime Grade Cowboy Rib-eye Steak and I wanted Pasta, ESPECIALLY after they took down all my specifications and spiced it up to my Fra Diavlo liking. The Linguine Pescatore was delicious.  I wanted to save some so I could take it with me to have again the next day!  That wasn't happening...I devoured it!

The entire meal was a FLAVOR EXPLOSION!  We were ecstatic, it was so good!!!! Every bite was IMMENSLEY enjoyable!  The menu is amazingly diverse with Steaks (their namesake), Pasta, Fresh Seafood, Deep South, Salads, Burgers and Sandwiches and even Oriental dishes.

We must have been making a lot of noise with our OHHHHH's and AHHHHH's because the owner Gary Fassi came over to check on us.  He could tell we were happy diners!

WHEN You are in Jacksonville and near the airport and on any kind of layover or passing through, get yourself to the Millhouse!!  I can assure you it will be one of best choices you'll make along your way.

REAL ESTATE UPDATE FOR BROWARD COUNTY & PALM BEACH COUNTY
January 1, 2009 to January 31, 2009

Broward County includes well known cities of Coconut Creek, Coral Springs, Deerfield Beach, Fort Lauderdale, Highland Beach, Hillsboro, Lighthouse Point, Parkland, Plantation, Sunrise, Tamarac and Weston.

There are currently ­­­­­13,936 Single Family Homes LISTED FOR SALE in Broward County.

­­­6110 priced under $250,000
4737 priced between 250,001 and $500,000
1232 priced between $500,001 and $750,000
633 priced between $750,001 and $1,000,000
538 priced between $1,000,001 and $1,500,000
250 priced between $1,500,001 and $2,000,000
435 priced over $2,000,000

For the month of January, 682 Single Family Homes SOLD in Broward County. 

271 were sold under $250,000
195 were sold between 250,001 and $500,000
45 were sold between $500,001 and $750,000
15 were sold between $750,001 and $1,000,000
7 were sold between $1,000,001 and $1,500,000
3 were sold between $1,500,001 and $2,000,000
1 was sold over $2,000,000

There are currently 19,399 Multi-Family Homes LISTED FOR SALE in Broward County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

14,427 are priced under $250,000
3146 are priced between 250,001 and $500,000
819 are priced between $500,001 and $750,000
453 are priced between $750,001 and $1,000,000
285 are priced between $1,000,001 and $1,500,000
161 are priced between $1,500,001 and $2,000,000
106 are priced over $2,000,000

For the month of January, 685 Multi-Family Homes SOLD in Broward County.

Note that many of the lower priced multi family homes are located in Adult only communities with a over the age of 55 requirment to live there.

617 were sold under $250,000
50 were sold between 250,001 and $500,000
8 were sold between $500,001 and $750,000
6 were sold between $750,001 and $1,000,000
2 were sold between $1,000,001 and $1,500,00
1 were sold between $1,500,001 and $2,000,000
1 was sold over $2,000,000

Palm Beach County includes well known cities of Boca Raton, Boynton Beach, Delray Beach, Greenacres, Lake Worth,  Wellington and West Palm Beach.

There are currently 10,095 single family homes listed For Sale in Palm Beach County.

­­3523 priced under $250,000
3459 priced between 250,001 and $500,000
1062 priced between $500,001 and $750,000
653 priced between $750,001 and $1,000,000
453 priced between $1,000,001 and $1,500,000
307 priced between $1,500,001 and $2,000,000
638 priced over $2,000,000

For the month of January,  256 Single Family Homes SOLD in Palm Beach County. 

136 were sold under $250,000
80 were sold between 250,001 and $500,000
15 were sold between $500,001 and $750,000
4 were sold between $750,001 and $1,000,000
7 were sold between $1,000,001 and $1,500,000
 5 were sold between $1,500,001 and $2,000,000
9 were sold over $2,000,000

There are currently 11,410 Multi-Family Homes LISTED FOR SALE in Palm Beach County.  Multi-Family Homes include condos, town homes, villas, coops, all attached and or unattached as well as single story to multi levels.

8692 are priced under $250,000
1782 are priced between 250,001 and $500,000
482 are priced between $500,001 and $750,000
233 are priced between $750,001 and $1,000,000
158 are priced between $1,000,001 and $1,500,000
63 are priced between $1,500,001 and $2,000,000
101 are priced over $2,000,000

For the month of January, 268 Multi-Family Homes SOLD in Palm Beach county.

28 were sold under $250,000
21 are sold between 250,001 and $500,000
3 were sold between $500,001 and $750,000
None were sold between $750,001 and $1,000,000
1 was sold between $1,000,001 and $1,500,000
2 were sold between $1,500,001 and $2,000,000
None were sold over $2,000,000

To see specific details on a specific category of homes actively for sale or sold, please email us at Team@GreatFloridaHomes.com and we will forward the information for your reference or review.

Information deemed reliable as provided by the Realtor Association of Greater Fort Lauderdale
and the Realtor Association of the Palm Beaches.

Overall Inventory was down in both counties.  Sales in Palm Beach county were down but up in Broward in both Single Family and Multi Family.  Note:  The numbers for this were pulled at the end of January and saved, although a hard drive crash caused the information to be delayed in posting until the data could be restored.  Thank you for your paitence.

Short Sale or Foreclosure (REO)...Better From Whose Perspective?

     Ask a Realtor these days and many will tell you that they've had it with short sales.  The banks take way to long to respond.  The client gets frustrated and thinks the agent is inefficient, so the client moves on to find an efficient agent, when in fact the agent had no control over the banks response time.

     As for a foreclosure (also referred to as REO=Real Estate Owned by a bank) they are not
necessarily easier to complete the sale, but they are usually a cleaner transaction with less issues
involved than a short sale.

     In a short sale there can be past due loan amounts from more than one lender, the devaluation of the property, past due maintenance payments, possible legal fees, liens from the municipality and more.  Where as in a foreclosure usually these are all wiped clean in the banks initial foreclosure sale.

     Sometimes there is the short sale that made it all the way through the banks process and
the Buyer did not close.  In that case it is an approved short sale and there is less of a time delay
to get to a closing.

     We have worked short sales that sold in a week or a month (these were pre-approved or fall-thru's as I mentioned above).  We have worked at the transaction for 3 months and as long as 6 months
and they fell apart only to have the property foreclose anyway.

     Sometimes there is PMI (Private Mortgage Insurance) on a property.  Sometimes the bank will foreclose anyway because they will get their money back through the insurance claim.

Patience of a Saint is required to buy a short sale.  We've had many Buyers say they have it, only to walk away after not hearing back from the lender with any kind of response in as long as two months 

There is risk and reward in everything.  In a short sale if you have the patience and the bank is cooperative it is likely you will get a "good buy", possibly better than a Foreclosure, because once the bank has processed the foreclosed property and put it back into the marketplace, they have additional costs involved that they want to recoup such as legal fees, loan pay-offs, insurance premiums, homeowners fees, legal fees, brokerage fees and more.

Either way there is an opportunity with the NEW INVENTORY of properties in the marketplace. 
Find yourself an agent with experience and knowledge to guide your through the maze and
bring your patience with you.

As Mom always said,,,Good Things Come to Those Who Wait.  She also said a Watched Pot Never Boils, but that's another story!

Yesterday was my Mom's 70th Birthday!! (Okay our Mom - since I am partners with my brother...BUT she lives with me!!!! - That means I am the lucky One in the Family!!!)

70 is not a big deal.....heck we buried Grandpa Booker two years ago at 101!!  It is the perception that is a big deal! 

We enjoyed a FABULOUS gourmet lunch at the local Blue Moon restaurant.  Both of my girls (2 of Nana's granddaughters) were able to stop by/attend the event.  Only one could stay and the other ran out to wish her grandmother a Happy Birthday while she put her job at risk.)  I will stand behind her and that choice because how many more chances will she have to tell the woman that raised her (more than me), that she is special?!?

A delightful afternoon and fun celebration and then it HIT ME!!!!  How many more of these do I have?
Mom is our real estate book keeper, she is my Housekeeper (well she coordinates the hired ones we bring her), she is Staff Sergeant for my visiting nephew before he goes into the Navy and she gets both of my girls to college and work.  She barks and we all come to Attention!  Why, because she does it with love and care.                           

So here I am...L U C K Y!!!  Because I still get to enjoy MOM!  In pain because I won't always be this lucky.  Happy because the memories are so poignant.  Eventually, I will have to create a new level of happiness for myself and the family.

Picture is Grandma just before her birthday- ALL NATURAL DNA and Leather pants!!!)

Although none of our lives are permanent; This does bring me to a conscious level to value what I have for now.

ENJOY IT WHILE YOU HAVE IT!

I have plenty of thoughts on Martin Luther King, Jr's memorial celebration as it relates to my experience, but today I was impacted emotionally by Thomas W. Dortch, Jr.

First.....I am delighted to live in a city (Coral Springs, Florida) that embraces diversity. 

When my kids were in elementary school here in Coral Springs, I was ELATED, that there were no lines between people.  Thank Goodness, prejudice was not as prevalent.  Since I did not grow up in this environment,  I was thrilled that my kids had a better experience!

That's not to say that prejudice does not exist......it is just better here!

Let me give you the Dictionary version of, " Prejudice": (an unfavorable opinion or feeling formed beforehand or without knowledge, thought, or reason.)

The key to this definition is WITHOUT KNOWLEDGE!!!!!

For 19 years the City of Coral Springs has brought to students, business leaders and the community a speaker that reflects on Martin Luther King, Jr's, mission in life in order to EDUCATE with knowledge.  I have attended-I lost count but I think it is 8 or 9 of these events, so far.

Each speaker brings his perspective of Dr King's legacy.  I even got to hear Coretta Scott King (sorry-I didn't know what a Blog was back then).

Each presenter says something incredibly valuable from their perspective.  In lieu of going backwards, I'll start here with today's speaker, Thomas W. Dortch, Jr., Chairman Emeritus of 100 Black Men of America (a mentoring society focused on kids).

He made TWO statements that got my attention!  (You had to be there if you wanted more ;-)

First he said...."LEADERS DO NOT ASK FOR FOLLOWERS, THEY INSPIRE".  WOW!  I loved the impact of this statement!!!

He also said...DIE EMPTY! 

WHAT?!?!  Please explain...

He went onto say that cemeteries are the richest lands in the world because they are filled with people who died with their knowledge & power inside of them. 

Will that Be You?  You are a VAULT of experience and knowledge! (You might as well be GOLD bars) 
Are you going to keep that expertise to your self?  Wouldn't sharing it be a better idea?

Mr. Dortch, said, make it your goal everyday to DIE EMPTY!!

Empty your mind EVERYDAY by giving your talents to mentor & share YOURSELF with others.

The key to this statement is you will be rewarded richly in the natural laws of nature.  Not going to go into all of the detail how this will take place, but I'll give you the short version....
YOU GET BECAUSE YOU GIVE, AS LONG AS YOU DO NOT GIVE TO GET!

I do enjoy mentoring fellow Realtors because one thing I've learned...it does not matter what I teach them...they will NOT do it like me and they shouldn't because none of us are alike!

I especially enjoy mentoring children and my favorite is the Junior Achievement organization.  How cool is that to teach kids how to run a business on their level of comprehension (from Kindergarten to Seniors)?

Bottom Line is that this was ANOTHER GREAT Event by the MLK  committee in Coral Springs, Florida.  A special Thanks goes to my friends at the local newspaper, the Forum, Joann Zollo and Justo Rey as you two are also an inspiration to leadership.  Thank you for having me as your guest.  Your invitation, inspired my heart with Mr. Dortch's words.

May we all be blessed in carrying forward Dr. Kings mission of equality for everyone!