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Buying Ft Lauderdale Real Estate Is Cheaper Than Renting

August 20, 2011 By admin

According to a report by Trulia,  buying South Florida Real Estate is cheaper than renting a home in South Florida. The report was based on a study of median home list prices and median rental prices in Miami.  While home prices are expected to continue decline into 2012, finding the perfect home while inventory is still available, and rates are low appears to be the priority of many buyers of Fort Lauderdale Real Estate.  Buying South Florida Real Estate vs. Renting, simply makes sense with todays discounted prices and interest rates.  For those home buyers who have been on the side lines, there are many good good reasons to buy. For those who insist on waiting for the bottom we can only ask, “can you identify the day that represented the top”. In Fort Lauderdale Real Estate most people think the top was some tiem between 2004 and 2006, the bottom will be as clear someday.    

Whether you’re a first time home buyer or experienced investor this is a great opportunity to purchase at some of the lowest prices we have ever seen.  Prices throughout the Fort Lauderdale Real Estate market and throughout the South Florida area have reached levels not seen since 2004, and with todays interest rates this makes a great time to start hunting. Interested in starting a Fort Lauderdale Real Estate search we have provided you with a link to the entire Fort Lauderdale MLS.

There are many factors that will effect what appears as median or average pricing over the next year in Fort Lauderdale Real Estate. Shorts sales, and Foreclosure’s will remain a large piece of the inventory, and a large part of the sold inventory. With this happening it will make the average and median price of a home in the Fort Lauderdale real estate market appear lower than it really is.  Foreign investment in the US Real Estate market will continue especially with Canadian buyers in the South Florida market and once the distressed properties are absorbed we will see average prices start to drift higher.

Buying Fort Lauderdale homes and condos, at a time when the rental market is gaining strength due to lack of new inventory, can be a great way to build a real estate portfolio over time.   Buying real estate close to the lows of the market is the way to build for a  long term profit.  You may get a check when you sell but in actuality the money is made the day you purchase. The investment advantages of owning real estate include the possiblity of  tax writes off when it comes to mortgage interest, real estate taxes and the cost of cost of operation. As always we suggest you discuss rental property with your accountant and real estate attorney so you know the most advantageous method of holding and purchasing your Ft Lauderale Real Estate.                                                                         

Eric Miller and Associates are here to help you make the most of this unique time in the Fort Lauderdale Real Estate market.  While buying the American dream can be a great experience, working with a team of professionals can certainly increase the odds of a successful transaction.  When looking at Fort Lauderdale Homes for sale, or starting your search for  Fort Lauderdale Condominiums for sale, or when its time to find that perfect dream Ft Lauderdale Waterfront  Home remember to contact the team at Eric Miller and Associates, Keller Willaims Realty Fort Lauderdale, for all your needs in Fort Lauderdale Real Estate.

Filed Under: Fort Lauderdale Condos, Uncategorized

Fort Lauderdale Real Estate Prices

August 20, 2011 By admin

Looking for a headline on Fort Lauderdale Real Estate prices these days and you will most likely be able to find one that still talks about the “declining median price”, or the “falling average price of home in the Fort Lauderdale Real Estate market”.  In reality the story is totally true, howvever, a little digging through the facts will expose a differant market that many Ft Lauderdale Real Estate buyers are finding totally surprising.

Ask a local realtor today about the biggest propbelm in the Fort Lauderdale Real Estate market and often you will hear that there are “no quality properties to sell”. This is the fact that leads to the misleading headline above.  With few quality properties coming on the market the larger portion of sales for sale are distressed properties in need of repair. When discussing median price of an areas housing market wouldn’t an approach calling for adjustments for condition be a more accurate picture of the market ?  An adjustment based on the proportion of sales which are distressed properties would give a clearer picture to an “average price point”, in a market.

When appraisers do an appraisel of a home they need to take into account things like a “visible leaks, roof past its life expectancy”, or a “kitchen in poor kitchen, no appliances “, once these items are addressed this house will become an “average” home in any real estate market. But as they stand today, they are below average homes, they sell for below avergae prices and these type of properties give an appearance of declining property values. In realty, what is being said is that home of below average condition sell for lower prices.

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Filed Under: Ft Lauderdale Foreclosures, Uncategorized

Ft Lauderdale Real Estate Auction Proves Demand for Ft Lauderdale Real Estate

April 23, 2011 By admin

Fort Lauderdale Real Estate demand proved to be the exact opposite of what national reports keep saying about the real estate market in general. A few weeks back as we discussed in an earlier blog post the Fountains on Ocean Blvd. conducted a real estate auction for the remaining unsold inventory. The auction drew a huge crowd of buyers to the Fort Lauderdale Hilton on a beautiful sunny day in Ft. Lauderdale, to buy their own piece of Fort Lauderdale Real Estate.

Fort Lauderdale Condominiums were sold in an orderly fashion of aggressive bidding, and in just over an hour the last remaining Ft Lauderdale Condominium units at the Fountains on Ocean Boulevard were under contract and called for by lucky buyers who will get to close on one the last remaining unsold developer Fort Lauderdale Condominiums.

Ft Lauderdale Condos were sold at about 40% off of the original asking prices, with unit selling from just under $300,000 into the mid $500,000 range. The demand was strong and the prices are a true indication of market value of Ft Lauderdale Condos.

Fort Lauderdale Condominiums near the beach are part of a Ft Lauderdale Real Estate market where location is everything and has not been plagued with an endless supply of foreclosures and short sales. The bargains are out there, but if you have been waiting to purchase a Fort Lauderdale Condo near Ft. Lauderdale Beach, now is the time to plan your shopping trip, as the good inventory is clearly being sold to the highest bidder, as inventory continues to shrink when it comes to Fort Lauderdale Condominiums.

Filed Under: Archived Ft Lauderdale News and Articles, Uncategorized Tagged With: , , , , , , ,