> MCR City Report
Fort Lauderdale's Balmy Winter Weather Attracts Homebuyers
by Blanche Evans
Snowbirds love the moderate weather in Fort Lauderdale during the winter, causing many to hunt for a place to live as well as to vacation, say local Realtors. "From the banks of Riverwalk to the sandy beaches of Ft. Lauderdale," say Realtors Marilyn Wechsler and Allen Rosenthal, "this area offers a medley of culture from the Broward Performing Arts, many museums, affordable homes as well as luxury sites not customarily found. There are homes for every pocket book. Year-round activities make this one of Florida's most attractive areas." About the market, the team says, "The real estate market in Ft. Lauderdale and the surrounding area has been 'red hot' for the past six months. The result is a decrease in available inventory. Whether you are interested in buying or selling, now may be the best time to call for assistance with your plans. It's anybody's guess how long the cost of borrowing will remain affordable or low." "Winter means glorious weather here in Ft. Lauderdale," says Realtor Karen Dove, "There's water everywhere you look! Beaches, the intercostal, canals leading to the New river that leads to Port Everglades. Last month's statistics show prices are up again, 12-17 percent from this time last year. Sales remain brisk for properly priced homes, condos and townhomes. Our prices are up over last year across the board, so even with interest rates up slightly your dollar will still go further, than in past years." Dove explains, "Known as the Venice of America, Fort Lauderdale has many waterfront homes and condos that offer docks and wonderful wide water views, all with ocean access for the diver, fishing fanatic and those who just love being on the sea. Fort Lauderdale offers a wide choice of both new and resale moderate and luxury townhomes, condos and villas. The city's has revitalized the downtown shopping and dining core, so more options of entertainment, dining, and shopping are nearby. The beach area also offers luxury high-rise condominiums; both new and resale. The east areas offer 'Old Florida' charm and many diverse architectural styles.The values on the resale of existing condos and homes has held steady, with upward movement in pricing. Some good values can still be had west of I-95 and the Florida Turnpike. The homes are more affordable in these areas. Many offer A+ school districts as well. If you're looking for a big city arts & entertainment with a smaller town atmosphere, Fort Lauderdale and the surrounding communities may be the place for you to call home!" "Homebuyer investment continues to be strong in the improving financial markets," suggests Realtor Lynne Knapp. "Real estate is being looked at as a stable long-term holding with tax benefits. Sellers are taking profits and buyers are locking in current prices for continued growth. There is a tendency to purchase upscale property for future family value. Many home purchases being made are not primary residences, but rather investment properties, second homes and vacation homes. Current interest rates are stable and are still relatively low, continuing to drive long-term investment in homes, especially in new construction." |
