Tuesday, October 31, 2006

Several Broward County Cities Ranked Among the Safest in the Nation

By Mary Damiano

In a report that could prove a boon to Broward County real estate, six cities have been ranked among the safest places to live in the United States.

Coral Springs was named the tenth safest place to live in the nation, according to a new survey by Morgan Quinto Press, a publishing and research firm in Kansas.

Cities were ranked based on FBI statistics from 2005 that were released in September. The information was divided into six crime categories—rape, murder, aggravated assault, robbery, auto theft and burglary. Coral Springs cracked the top ten because in 2005 its crime rate was down 17 percent from the previous year.

Other Broward cities were also recognized as being among the safest in the country. Out of the 371 cities ranked, Pembroke Pines was number fifty-nine, Davie was number eighty-seven, Sunrise was number eighty-nine, Plantation was number ninety-four and Miramar came in at number 141.

Realtor Responsibilities to South Florida Homeowners

What are the most important responsibilities a Realtor can fulfill to a homeowner?
The answers may be obvious, they may be surprising or maybe a little of both.
According to the Homethinking ranking system, here’s one to grow on:

1) Neighborhood Knowledge – Homeowners want to know that you understand the intricacies of their particular area.
2) Objective observation and honest assessment of a property- What are the strengths and weaknesses of the property?
3) Dynamic Realtor Website – this surprised me, but I don’t know why. More than 79% of buyers and sellers begin their searches online.
4) Ability to answer questions from prospective buyers – Learn everything possible about a property when you list it.
5) Ability to answer questions and address concerns of the seller- As situations change and develop so do the needs of the seller.

Boynton Beach Real Estate Set for Extreme Makeover

By Mary Damiano

Boynton Beach is a city characterized by its suburban sprawl: shopping centers, malls, chain restaurants and gated communities locking up prime South Florida real estate.

But if a couple of developers get their way, Boynton Beach just might be jumping onto the downtown bandwagon.

New York-based Ridgemour Development wants to build a complex with 80,000 square feet of office space, 20,000 square feet of retail space and 100 rental units along Federal Highway just north of Boynton Beach Boulevard. Under the plan, studio apartments would start at about $1,000.

Another project of homes and shops is planned for Martin Luther King Boulevard.

The developers of both projects would like the city to refurbish the neglected Bicentennial Park, and buy up land to expand the park.

The goal is to not only create an attractive, people-friendly downtown, but also lure businesses to Boynton Beach, which often loses out to the vast office space of Boca Raton and the trendy retail areas in Delray Beach.

A revitalized downtown could also be a boon to the existing homes in Boynton Beach and for the Palm Beach County real estate scene.

Haunted Real Estate in South Florida

By Alexandra Tarallo


South Florida is an area of much history including Native Americans, European settlers, and infamous battles and stories. Some consider this to be the perfect setting for paranormal activity.

Most famously haunted Fort Lauderdale has a wealth of rumors involving paranormal activity. The Fort Lauderdale Ghost Tour explores the city’s haunted past with visits to the Stranahan House, the New River Inn, and the Bonnet House.

The New River Inn which now houses the Old Fort Lauderdale Museum of History is said to house several ghosts such as a middle aged man wearing a duster, a young man who advances suddenly to the front door and presses his face against the window, and a little girl with curly hair who stares melancholically out of a window.

Fort Lauderdale isn’t the only city to feature haunted houses. Broward County real estate tells the same stories of paranormal activity.

The seventh floor of the Ramada Inn in Hollywood Beach is said to be haunted. Voices and noises have been witnessed by personnel and guests alike. The hotel was once a favorite hang-out of the infamous Al Capone and was also a hospital and a bible school before restoring the hotel once again. Just minutes away, residents and visitors of the Hollybrook Golf and Tennis condominium community have reported seeing the ghost of an elderly woman on the left hand side of the road wearing a pink night gown and making motions for drivers to slow down.

In Dade county, haunting activity has been reported in South Dade High School, the Deer Run “Curtis Mansion,” the Miami Beach Colony Theater, and the Miami River Inn, as well as at Hialeah-Miami Lakes Senior High and Hialeah High School.

Palm Beach’s historical lighthouse in Jupiter is said to be haunted as well. Employees have reported strange noises and cold spots. Visitors have reported feeling someone’s hands upon their shoulders, when they look back, they chillingly realize no one’s there.
Tonight when you’re out trick-or-treating in these areas, make sure to keep an eye out for ghosts. You might just get lucky!

Monday, October 30, 2006

Boca Raton Real Estate to Have New Development and Library

Residents in West Boca Raton may see construction for 130 homes and a twenty-one acre county library sometime next year.

Palm Beach County Commissioners agreed to support the development last week for the library and homes in Boca Raton. But don’t get too excited. The plan still has to go through another hearing for a final adoption on November 27.

The new development for the houses will be constructed by Charlse Watts Communities at Boca Lago, covering more than 20 acres. These homes will be next to a two 18-hole golf course community and will be for residents 55 and over. The project will no doubt increase membership at the golf club, an expectation expressed by club members. New residents in Boca Lago will be able to enjoy several amenities such as a community clubhouse, a swimming pool, a spa and other luxuries.

The library is part of a plan from Palm Beach County to construct three libraries in Boca Raton, Delray Beach and Lantana. Builders will develop the Boca center between Yamato Road and US 441 in January or February at a cost of $11 million.

The Incorporation of Solar Energy use into South Florida Homes

By Alexandra Tarallo

According to a report released by the British government, “climate change could devastate the global economy on a scale of the two world wars and the depression of the 1930’s if left unchecked.”

The report was commissioned by British ministers, and developed by Nicholas Stern, a former World Bank economist, who concluded that “ignoring climate change could lead to an enormous disturbance to the world economy.”

Since South Florida is known for is its year around sun, contributing to making our neighborhoods and homes in South Florida “greener” should be an easy task. The incorporation of a solar power system into your home is a great way to get started.

Solar modules collect the free energy from the sun and an inverter converts the solar electricity into AC current for your home. The system also sends any excess power to your utility company for credit, as your meter will run backwards when your system generates more power then used by the house.

Home Depot provides free in-home consultation where a licensed solar power professional visits your home and provides a complete evaluation based on your specific needs. He will estimate your solar savings, and decide the best size and placement of your solar power system. A project manager will obtain necessary permits, complete necessary paperwork, and once all approvals are completed a full team of licensed and insured professionals will install your customized solar power system. Installation is followed by a six month system check-up.

BP Solar estimates that your FPL bill may be as much as 30% lower in addition to increasing your home value, and contributing to decreasing the levels of pollution in your neighborhood.

Low Ball Offers in the South Florida Real Estate Market

So you may be thinking the South Florida housing market is cooling off, prices are leveling off and sellers are a bit more anxious. You’re thinking it must be a good time for a low ball offer. After all who knows what kind of steal you can come up with? According to Urban Digs, there are some things to keep in mind before making such a bold offer:

1) Observe the subject property
2) Has the seller reduced the price?
3) Has the seller reduced the price more than once within a short time?
4) How long has the property been on the market?
5) What did the seller pay for the property?

Remember the object of this game is to keep all parties happy.

Saturday, October 28, 2006

New Restaurant in Boca Raton brings Hawaiian Flavor

One of Boca Raton’s beloved restaurateurs, Nick Nickolas, has brought the experience of Hawaii to the city.

After successful run in the Boca Raton Resort & Club, the entrepreneur closed Nick’s Fishmarket and reopened it this month as Nick’s Fishmarket of Hawaii on Palmetto Road.

This restaurant in Boca Raton offers several delights from the tropical island including pu pu platters, swordfish with Hollandaise and other seafood entrées. But Nick’s Fishmarket doesn’t just limit itself to Hawaiian dishes. The restaurant will also serve plenty of Asian cuisine such as pad Thai. Even the interiors are reminiscent of Hawaii with decorations of bamboo, palm trees and grass fringe. After 10 p.m., the place turns into a vibrant nightclub known as “Nick’s at Night” with music and Polynesian dancing.

This is not Nickolas’ first venture into opening a Hawaiian dining establishment. He started his first restaurant on the island back in 1963, a little fact he told people on opening night. This is Nickolas’ 34th restaurant.

Friday, October 27, 2006

New Riverwalk Spurs Growth of Jupiter Real Estate

By Mary Damiano

The new Riverwalk project in Jupiter, which was designed to keep the ocean accessible to the public, is spurring growth in Jupiter real estate.

Nestled under the Indiantown Bridge, one of the first phases of the project is being celebrated by city officials and residents of Jupiter. But while it was designed to keep residents who don’t live along the water from getting squeezed out of an accessible waterfront, Riverwalk is actually attracting developers, eager to build town homes and condos in Jupiter.

Several communities already back up against Riverwalk, including Mangrove Bay. Several of the newer developments helped pay for the Riverwalk project, in exchange for the right to build extra stories and more condos in Jupiter along the water.

One of the proposed projects of new development is called Harbourside, and plans include a parking garage, shops and restaurants, all designed to maintain the small-village feel of the homes in Jupiter Inlet Colony.

New Homes in Boca Raton Community Added

South Florida real estate just keeps on growing, especially Boca Raton.

The city has a number of projects in sight for the future such as new communities, restaurants, reconstruction at the Boca Raton Mall Town Center, installation of two clarifiers at the Water and Wastewater Plant and a botanical garden in Mizner Park. And now a plan for the development of new homes in the community Lago Mar has been approved this week by council members in Boca Raton.

The new real estate in Boca Raton will consist of six three-story houses in an area currently occupied by two single and two multi-family homes. Residents can enjoy many amenities and will be minutes away from Mizner Park. As for now, it is unknown how much the properties will sell.

Will Downtown Fort Lauderdale’s Real Estate Boom Take Away From the City’s Old-Florida Charm?

By Alexandra Tarallo

Fort Lauderdale was still a small fishing and agricultural village even when Miami was put on the spotlight as celebrities chose the city as a favorite winter retreat.

Throughout the years however, Fort Lauderdale has transformed itself from a small settlement to a vibrant and cosmopolitan city booming with major corporations, an array of museums, hotels and restaurants, and many other attractions. Amazingly through it all, the city managed to undergo transformation without losing its Old-Florida charm.

The historic Las Olas Boulevard for example, was the first road to the beach. Before the thoroughfare was completed the only way to reach the Atlantic Ocean was by boat via the New River.

One of Fort Lauderdale’s earliest landmarks was the New River Inn which opened in 1908 as one of the city’s oldest hotels. It now houses the Fort Lauderdale Historical Society. The Riverside Hotel founded by Preston and John Wells in 1936 is another of the city’s first hotels and is still open. Some of its guests along the years have included poet Edgar A. Guest, members of the Du Pont family, and President Ronald Reagan.

How will the modern state-of the art buildings coexist with the older structures?
It’s hard to tell just yet.

For years Fort Lauderdale has managed to preserve the charming village atmosphere it has always been known for. With the upcoming developments which will add 5,000 new residential units to Fort Lauderdale’s real estate, some are asking if the city’s village-like qualities will be coming to an end.

Perhaps the new construction will add yet another face to the ever-changing city. Will Fort Lauderdale become America’s new iconic metropolis? It certainly has the potential to do so. One thing is for sure, it will take a long time to see the results giving us plenty of time to enjoy the “old Fort Lauderdale.”

The Strength of South Florida Real Estate

It has been said that the weather is the number one reason people move to South Florida. However, the diverse nature of the local South Florida economy also has a part to play. According to the State of Florida.com, our local strengths include:

1) International Trade - Florida is a hub for trade to Latin and South America
2) Tourism - Florida is the top travel destination in the world,
But we already knew that
3) The Space Industry - 15,000 people alone work at Kennedy Space Center
4) Agriculture - Florida provides 40% of the world’s orange juice supply
5) Construction - We’ve got to keep building South Florida Real Estate For all our new lovely residents

5,000 New Residential Units to Become a Part of Downtown Fort Lauderdale Real Estate

By Alexandra Tarallo

Downtown Fort Lauderdale real estate is in the midst of yet another residential boom with more than 5,000 condo units being developed in the area. This new construction boom will undoubtedly dramatically transform Fort Lauderdale’s skyline by incorporating modern architecture.

Some of the projects include Downtown Lofts, Hyde Market, Brickell Heights, French Village, and the Jackson Tower. Downtown Lofts will feature 210 units within fifteen stories. Hyde Market will feature 272 condos within forty-two stories. Brickell Heights will be twenty-eight stories high and features 292 condos. French Village just off of Andrews Avenue will feature 200 condos within twenty-one stories.

Other Projects include Sky Lofts, Village Lofts, NoLa Lofts Phase II, and Las Olas River House Phase II.

Las Olas River House Phase I is Fort Lauderdale’s tallest tower. Developed by Tarragon South Development Corporation, the 42-story landmark was completed in 2005. Though many re-sales are available, potential buyers and investors have been eagerly waiting for Phase II for pre-construction prices. Las Olas River House condos feature floor to ceiling impact windows, high speed elevator, piano lounge, library, wine cellar, and 24-hour concierge service. The building also features two free-form swimming pools located on a 60,000 square foot deck. The pool deck has air conditioned cabanas with full bathrooms and kitchenettes that can be purchased by residents based on availability. Las Olas River House Phase II will be a 25-story tower featuring 89 condo units and approximately 24,000 square feet of retail space.

Thursday, October 26, 2006

New Restaurant in Boca Raton Mizner Park

Mizner Park is a place brimming with culture and entertainment. Early next year, visitors in the area will get a taste of seafood in a popular establishment from the second largest state in the nation.

Truluck’s Steak and Stone Crab Restaurant, one of Texas’ beloved dining places, is setting its sights for a location in Mizner Park in Boca Raton sometime next year. The restaurant will cover 8,000 square feet and will feature outdoor setting, leather booths and lounge area where customers can kick back and listen to a piano player.

So what makes Truluck’s Steak and Stone Crab Restaurant special in South Florida? They are one of the few restaurants in the state that owns a stone crab fishery license, enabling Truluck to serve crabs to customers as soon as they are caught. Truluck also imports various crabs from around the world including North Atlantic Jonah crab, Austrialian Spanner crab and Dungeness crab.

Truluck’s has a restaurant already in Naples and may open shops in other areas in Florida. This new Boca Raton restaurant will also serve at least 100 different wines.

South Florida Homes Can Get a Makeover at New Ikea Store

By Mary Damiano

It’s going to get a lot easier to furnish that new South Florida home. Ikea is coming to Sunrise.

The new Ikea store—the first one in Florida—broke ground yesterday in Sunrise, on the corner of State Road 84 and Northwest 136th Street. Currently the closest Ikea store to South Florida shoppers is Atlanta.

The Sunrise Ikea store will have about 293,000 square feet of retail space, including three model homes, 50 room settings, a Swedish cafeteria and a play area for children. Ikea is known its 10,000 item product line of sleek, well-designed, reasonably priced home furnishings and accessories.

The Sunrise Ikea will be located right near Sawgrass Mills, the shopping, dining and entertainment complex that is the largest outlet mall in the country and has become one of the top tourist destination in Florida.

But even as ground was breaking on the Sunrise Ikea, there were talks about adding another in a few years to northern Palm Beach County. Studies have shown that residents there are less likely to make the hour-plus drive to Sunrise to shop at Sawgrass Mills.

Ikea in Sunrise is scheduled to open late next summer and will create 400 new jobs. It should also prove to be a boon to real estate in South Florida especially in the areas surrounding the store and Sawgrass Mills, communities like Sawgrass Preserve and Sawgrass Estates.

Wednesday, October 25, 2006

New Hollywood Real Estate to Develop Near Tri-Rail Sheridan Station

For years now, Hollywood is a city bursting will new residential units and businesses as developers continue to be charmed by this tropical gem.

And now Stationside Village Associates has announced that it will develop Sheridan Stationside Village in the next ten years. It will be a new community filled with housing units, offices, stores and a luxurious hotel. What will make this convent to residents is its close proximity to the Tri-Rail commuter rail on Sheridan Street. It’s part of a plan to encourage locals to use mass transportation.

Stationside Village Associates will start constructing this new community sometime in 2007 at a cost of $500 million. It will feature more than 1000 residential spaces, nearly 700,000 square feet of retail stores and offices, a garage for Tri-Rail commuters and a hotel with 150 rooms.

The company has hired architects Mark Wiener and Roger Fry to help design this new real estate in Hollywood. For now, it is unknown what stores and businesses will be in Sheridan Stationside Village.

Affordable Beachfront Real Estate in South Florida

By Alexandra Tarallo

Beachfront real estate in South Florida is more affordable than it has been in the past few years. New developments with direct ocean access are popping up everywhere in Dade and Palm Beach Counties, from Miami Beach to Tequesta.

Mirasol condos start at $359,000. Mirasol is located along Collins Avenue just steps from the prestigious Ritz Carlton in Miami Beach. Another waterfront development in Miami Beach is the Arlen Beach Condo also located along Collins Avenue. Condos for sale in Arlen Condo start at $350,000 for an 824 square foot unit.

Hallandale real estate also offers many new waterfront developments such as Ocean Palms and Quadomain Condo. Condos in Quadomain start at $259,000 for a 1,000 square foot unit with Intracoastal views just steps from the Atlantic.

Further north in the Palm Beaches are many more developments that promise the best of South Florida’s beachfront living. Jupiter and Ocean Ridge offer waterfront condos in the low and mid 300’s. Singer Island’s Mayan Towers offers ocean views that start at $289,000.

Staging Your South Florida Home For Sale

You never have a second chance to make a first impression. A saying was never truer for the South Florida real estate industry. It has been said that buyers form their decisions within the first 30 seconds of walking in the door. Knowing this, many sellers are getting their homes ready for resale with the use of a professional stager.

A professional stager sets the scene and enhances the overall natural flow of the house. Furniture may need to be rearranged, removed or added. Clutter definitely needs to be taken care of. Are the windows clean? Stagers use props when needed. These include antique furniture, silk plants, oriental rugs and artwork. Actors may even be hired for an open house.

In a competitive market, staging your home may be the best way to set it above the rest.

Tuesday, October 24, 2006

Slump Shmump—Boynton Beach Real Estate Development Sells Out in Five Hours

By Mary Damiano

Eager to own their own piece of South Florida real estate more than 100 people camped out in Boynton Beach last week eager to buy one of 134 preconstruction houses in a new development called Greystone, slated to be built off of Hagen Ranch Road.

The first phase of Greystone, which will eventually include 552 homes on 144 acres, sold out in five hours.
Analysts agree that the biggest selling point was the price tag of the barely-a-glint-in-the-developer’s-eye homes, which started at $311,900. The Sunrise-based G.L. Homes says that the first homes will be completed early 2008.

Pressuring contractors was the key for keeping building costs down, says G.L. Homes. They then marketed Greystone as affordable housing to teachers, firefighters, police officers and other municipal workers who had been squeezed out of the recent decline in the housing market.

Baby Boomers Make Real Estate a Priority

By Mary Damiano

Baby Boomers—those Americans born between 1946 and 1964—have a passion for property that surpasses previous generations.

A new study conducted by Harris Interactive and sponsored by the National Association of Realtors shows several trends in baby boomer’s real estate patterns:

Four out of five boomers own a home, while one in four also owns a secondary property, such as acreage, one or more vacation homes and rental property.

Baby boomers’ home equity represents a significant portion of their net worth, and plays a role in their well-being and financial planning. Among boomers 50-60 years old, 36 percent report that the equity in their primary residence is more than 51 percent. Thirty-eight percent of boomers 42-49 years old report the same.

Boomers believe in accumulating real estate longer, even as they head toward traditional retirement age. One in four boomers aged 50-60 say they will likely buy more real estate in the next 12 months. In boomer households in which the yearly income is $100,000 or more, the number jumps to 37 percent.

Aging boomers also have different housing needs than previous generations. Thirty percent of boomers aged 50-60, still have at least one adult child living at home. Sixty percent of this age group also have aging parents who need assistance. Many boomers intend to work past traditional retirement age, and many plan to start new businesses. This means that residences not only need to be larger to accommodate family members, but one or two home offices or workplaces.

Hurricanes and South Florida Real Estate

By Alexandra Tarallo

Dealing with hurricanes is not an easy thing to do, but it’s the price we pay for living in one of the sunniest places in the world.

This week put a new hurricane in the spotlight. Hurricane Paul is out in the Pacific headed for the Baja peninsula in Mexico. As grateful as we are that we didn’t experience much storm activity in our area, South Florida real estate is extremely vulnerable when it comes to hurricanes. However, there are many things you can do to keep your family safe and make your South Florida home less likely to suffer damages.

Thankfully the season is almost over which gives us approximately eight months to get our homes ready for next year. If you suffered damages from Wilma, hopefully you’ve repaired them by now.

The most important steps to take in order to protect the structure of your home are to make sure your roof is in top shape, and to put up shutters on all windows at least 48 hours before landfall. Shutters provide a great amount of protection from flying debris that may break windows and create a dangerous situation. If you don’t have them yet, now is one of the best times to start planning for them. They’re not cheap but it’s certainly less than the amount you’ll spend in repairs if your home suffers damages.

Impact glass and laminated glass are another good option especially if you live near the Ocean where winds may be particularly strong. Make sure you have a hurricane kit with a few flashlights, batteries, and a battery powered radio. Most of us do, however you’ll need to replace some items such as batteries after a certain time and make sure everything is working properly. A “take box” is another essential. This is where you’ll store documents such as insurance policy info, passports and id’s, mortgage information, car titles, and large purchase receipts.

If you haven’t purchased a home in South Florida but your thinking about doing so in the near future, many new homes and condo towers have been built with the latest state-of-the-art engineering and are designed to endure high category storms. Some examples of condos in Fort Lauderdale that have incorporated the latest building codes and standards are Las Olas Riverhouse and Las Olas Grand. Miami’s Blue Diamond Condos also fit into this category.

The Price is Right for South Florida Real Estate

Many homeowners believe its better to set a high initial listing price because they can always lower it if they need to. According to RealEstateabc.com this is a myth that needs to be challenged.

As our local inventory increases many sellers find themselves in competition for fewer buyers. An ad in the newspaper or sign in the yard may get the message out, but most buyers are dealing with agents they have met while looking for other properties. Agents know the area and inventory available. When they see an overpriced house they know if their buyer likes it, they’ll be able to show them many more accurately priced options in the same area.

New listings get the most attention. That’s a fact. When an overpriced new listing comes on the market it doesn’t generate the same kind of excitement as an accurately priced home would. Agents may pass it over and not even notice a price adjustment later on. After a few weeks your home may become “stale” on the market while buyer’s agents are focusing on what is new. If you’ve already made moving plans or accepted a new job, you may become desperate and accept a lowball offer. Now you’ve sold it for even less then what would have been an accurate listing price.

Still think it’s a good idea?

Monday, October 23, 2006

South Florida Condos Becoming More Affordable

By Mary Damiano

Whether you’re an empty-nester looking to downsize or and up-and-comer looking wading into the pool of property ownership, condos might be the most affordable option.

The prices of condos in South Florida have dropped about 4 percent from this time in 2005. Condos are often attractive to buyers because they offer a degree of home ownership without the maintenance involved with a house.

But there are many things to keep in mind before signing on the dotted line and moving into your fab new condo. After all, when you buy a condo, you own the interior space of your unit, and you co-own the exterior structure, land, shared amenities and upkeep with everyone else in the complex.

Some things to keep in mind when looking at condos in the South Florida real estate market:

Know Your Neighbors
The saying goes that good fences make good neighbors, but in condos, there are no fences between units. Condos offer less privacy than single family homes, so you’ll be living in close quarters with a lot of people. Talk to neighbors before you buy. Hear their opinions about the condo association. Make sure to visit the complex at different times, including days, evenings and weekends to get a feel for the place and meet a variety of residents.

Do Your Research
Condos are run by condo associations and the people who sit on their boards. Research the board members and get a copy of the association’s financials and most recent annual reserve study. This can be very helpful in determining whether fee increases are just around the corner. Investigate the type of insurance the complex has and what is included in the monthly association fees. Review the complex’s declaration of condominium; this helps determine the monthly condo fees. Review the bylaws, which will inform you of architectural requirements in case you ever want to make changes to your unit.

Read the Rules
If you move into a certain condominium in South Florida, will Fido have to go because he gets a little chubby? If Fluffy goes to that big kitty condo in the sky, will you be able to adopt that sweet little kitten form the Humane Society? If you become ill, will Aunt Sadie be able to move in for a few months to take care of you? If you fulfill that dream of buying an RV, will you be able to park it in the complex? Condo associations have all kinds of rules governing many areas of daily life, so it’s very important that you read all the rules and decide if you’re comfortable with the. After all, once you sign on the dotted line, you’ll be living by those rules for a long, long time.

The New Look of Miami Real Estate

Art, music, finance and fashion converge in what has become a top US destination city. Miami’s downtown skyline reflects the latest trend in South Florida Real Estate. New highrise condominiums sit along Miami’s urban center on Biscayne Bay and outlying neighborhoods.

Real estate has become more of a global market and Miami is seen as an entry point. As a result most of the new buyers are not local. In addition, baby boomers are becoming empty nesters looking for a second or third home. According to the Miami Herald, more than 100 development projects are in construction or in the planning stages. That is an estimated 61,000 new individual condominium units.

Soon to be gone are the days of rundown blocks and dilapidated buildings. Miami has become a dynamic international city.

Company to Sell Historic South Florida Real Estate

The historic neighborhoods in West Palm Beach have been one of South Florida’s true gems. And it has now caught the eye of Illustrated Properties.

The real estate firm based in Palm Beach Gardens has recently opened an office in West Palm Beach. It plans on selling historic homes in several cities that lie between Delray Beach and North Palm Beach. For now, the company has nearly thirty listings and wants to get 50 to 75 by 2007.

Illustrated Properties will sell West Palm Beach homes in such neighborhoods as Grandview Heights and El Cid. The former is one of West Palm Beach’s oldest areas, built in the 1910s and 1920s with dazzling architecture that is reminiscent of those times. Several of these historic districts were listed in the National Register of Historic Places.

But to sell a historic house is not the same as a regular home developed in the last ten years. Buyers can’t tear down walls due to restrictions in the area in order to preserve the city’s history.

Illustrated Properties also plans on moving their current office next year to another of West Palm Beach’s oldest neighborhoods, Mango Promenade.

Adding natural beauty to your South Florida Home

By Alexandra Tarallo

Much of the beauty of South Florida homes resides in the incredible variety of tropical plants and flowers that strive in our warm climate adding character and natural grace to local residences. If you would like to add a garden to your home but don’t know where to start, here are a few tips.

Potted flowers are affordable, easy to care for, and have the potential to brighten up the appearance of your entire home. Ask the specialist at your local gardening store for tips on care and placement within your specific property. Many flowers need direct sun however South Florida sun may too much to endure for some species.

Native species will naturally adapt to our climate and will be easier to care for. Some of Florida’s native vines include the passion flower, Florida native azalea, and beach morning glory. Trees that are native to Florida include wild tamarind, Atlantic white cedar, red mulberry, and Florida sugar maple. Your South Florida home may have already had a number of trees, plants, and vines when you purchased it. If so, you can just add a personal touch. If it didn’t then you have a beautiful canvas to work with.

Many books about gardening offer tips on location and the variety of plants you could add to make a remarkable difference to the appearance of your South Florida home.
Feng Shui gardening for example incorporates the delicate balance of elements designed to raise the “chi” of your home. Feng Shui means wind and water which according to traditional Chinese beliefs are the main sources of life.

If this sounds too sophisticated or complex, just use your instincts to bring amazing color and renewed life into your home with a new garden.

Friday, October 20, 2006

Investors Give South Florida Cities a Makeover

By Alexandra Tarallo

One of the recent trends in South Florida real estate is upgrading buildings and offices in order to attract new businesses, raise leasing profits, and at the same time keep costs as low as possible. As land becomes less available and prices soar, so have construction prices. In the past years real estate firms such as Applefield Waxman have purchased old office buildings and spent more than $1 million in improvements and state-of-the-art upgrades expecting to attract doctors and other professionals.

Many buildings in downtown Fort Lauderdale have experienced a similar make-over such as the Wachovia Tower, a 332,000 square-foot landmark of the city’s skyline.

Boca Raton’s old IBM building was purchased by JP Morgan Chase who spent $16 million in renovations such as mahogany trim, marble floors, generators, and wi-fi Internet access focusing on the notion that many high paid workers expect to work in luxuriously appointed, high-tech offices that continue to operate even if, South Florida where to be hit by a major storm. This is a great asset, as we are well aware of after experiencing the challenges that last year’s storms brought to out workforce, especially Wilma, an unexpectedly strong storm that put the brakes on most businesses, and the nation’s economy.

North Miami Beach has been quick to jump on the band wagon. Leasing agent Neil Merin expects renovations to attract “well heeled workers” coming to fill positions offered by companies such as Scripps Florida as well as many other biotech firms. The plan is to move away from the concept that many of our cities are “little backwoods suburban vacation hot spots for retirees.”

The Pros and Cons of Buying New Construction Homes in South Florida

The Pros and Cons of Buying New Construction Homes in South Florida

By Mary Damiano


Just as new car buyers love that new car smell, many home buyers want that equivalent in their homes. There’s a certain promise about being the first person to inhabit a new home, as well as the exciting possibilities of choosing colors, floor plans, countertop materials and other design elements.

When looking to buy South Florida real estate, new construction homes are tempting, But consider these three things before you buy.

The Noise Factor
Being the first person or first family to occupy a house in a new community may seem exciting, but new communities are not quiet places. As more homes are built around the newly finished and newly occupied homes, residents will have to endure a lot of construction hassles and noise.

Resale Scenario
Sometimes moves are well-thought out and planned, and sometimes family obligations or job transfers make them sudden. While you might buy that new construction home thinking that you’ll be there for years to come, an unexpected move might be in your future. Trying to sell your home in a community that isn’t completely finished means that your already-occupied house must compete with those shiny new models being offered by your builder. This means that your relatively new home could stay on the market longer and that prospective buyers may overlook it because they want to be able to choose all those finishing touches just like you did once upon a time.

A Model Situation
Selling your house before the community is sold out means your home will be going head-to-head with model homes in your community. Model homes are designed to showcase the space and features of a home. Buyers touring model homes will see almost empty cabinets, closets and garages, smell the fresh paint and new carpet, and fantasize about themselves living in that pristine home. Your lived in, furnished house home could be seen by buyers as the reality.

Consider these factors when thinking about buying a new construction home in South Florida. Of course, there are other options, such as the many existing homes in South Florida. Check out the listings at Expert Realty. They’re sure to have your dream home, whether it’s an existing home or new construction.

Real Estate in Palm Beach Going Strong

Real Estate in Palm Beach Going Strong

By Mary Damiano


Brokers on the luxe island of Palm Beach are bullish on the outlook of their real estate market.

Palm Beach real estate agents cite several reasons for their optimism, including retiring baby boomers with more discretionary income than past generations, the fact that interest rates remain relatively low, the allure of the Palm Beach lifestyle attracts buyers of all ages, and so far, the hurricane season has been uneventful.

Also, real estate in Palm Beach tends to fall into the luxury home category, which most analysts agree remains profitable in almost all circumstances.

Indeed, the country’s second most expensive home is for sale in Palm Beach. The house is owned by—who else?—Donald Trump; its asking price is $125 million. Renovations on the house were completed recently, overseen by Kendra Todd, one of the winners from Trump’s NBC series “The Apprentice.”

While the Donald had hoped to set a new record in real estate prices, he was trumped by the $135 million price tag of a home in Aspen, Colorado.

To see the many homes for sale in Palm Beach, visit Expert Realty.

New Shopping and Luxury at Boca Raton Mall Town Center

If you’re a Boca Raton resident, you may have noticed the heavy construction of the Town Center at Boca Raton Mall for awhile.

Well, the results are finally showing.

The first sign is the new Grand Lux that replaced the old TGI Friday, stretching 11,000 square feet with more than 300 seats. But officials still have a lot of work to do.

The renovations promise to add new life to the mall, which will expand more than 200,000 square feet with luxurious, European architecture and new stores. A California Pizza Kitchen will move into an area once occupied by an Italian restaurant. Macy’s will expand its store, adding 82,000 square feet. The Crate & Barrel will grow into a two-level outlet near the edge of the mall.

The town center will also emphasize an open-air environment with a few restaurants that will incorporate outside seating. And for all those shoppers who felt the grudge of searching for parking at the mall, officials will develop another parking garage.

All this reconstruction will make shopping in Boca Raton a vibrant experience.

South Florida Real Estate Upgrade

Everybody uses the bathroom, but not everybody uses the kitchen. As the South Florida real estate market shifts, many sellers may be thinking that an upgrade will set their home apart from all the others. According to CNN money.com, not every addition or renovation will add value to your house. In fact some could even do the opposite.

According to the editorial director of Remodeling, a poorly designed addition can detract from the value, In addition to the floor plan and flow people have to think about how it is going to fit into the neighborhood.

Watch out for trendy finishes. They may be all the rage now, but will make your house look dated when it’s time to sell.

Jacuzzi tub in the bathroom. It’s a great idea, but an oversized shower with a rain showerhead and multiple jets may be an even better idea.

Get Your South Florida Home Holiday Ready

By Alexandra Tarallo

Now that the holiday season is near you will want to decorate your South Florida home with all the festive elements that come with it. Halloween is a favorite among kids and adults alike and pumpkin carving can be a good way to bring everyone together.

First pick out your pumpkin. Make sure it’s nice and healthy. If you have small children it may be smart to invest in a kiddie cutter. Cut a lid off the top of your pumpkin. Empty out the fillings and seeds into a bowl in case you want to use them later. Draw a face on the front and then carefully carve it out using a sharp knife. Fill the inside with tea lights and replace the lid. Your Halloween jack-o-lantern is ready to go!

Halloween is followed soon after by Thanksgiving, Hanukkah and Christmas. If you plan on having friends and family over, you want your house to be in top shape. A quick fix is getting rid of clutter, and scenting your house with affordable homemade potpourri. Use a simmering pot if you have one. Through in apples, cinnamon, and a few drops of your essence of choice in the pot and let it slowly simmer. The festive fragrance of your home will welcome family and friends and probably remain in their memories for years to come.

Thursday, October 19, 2006

Starwood Plans Real Estate in Fort Lauderdale

With the threat of global warming on people’s minds, some hotels are taking the environment into consideration.

Starwood Capital Group is gearing up to build environmentally friendly hotels in Fort Lauderdale and other cities in the US and Europe.

The real estate firm created a new brand of resorts called “1” Hotel and Residences. Its main focus is conserving energy, water, and reducing solid waste, all of which adhere to the principles of Leadership in Energy and Environmental Design, known as LEED. Guests in these “1” hotels will still enjoy the services and comforts from a high class resort.

A new green hotel will be a part Fort Lauderdale real estate sometime in 2008. Starwood will also build properties in Seattle, Mammoth Mountain, CA, Scottsdale, AZ and Paris.

South Florida Second Home Real Estate

It’s no surprise that South Florida is a top location for those looking to own vacation home. The idea of being minutes away from the beach is what dreams are made of. However, if the idea of a second mortgage is less than enticing then treat it like an investment property and rent it out for part of the year.

There are many realtors who specialize in property management. They can help you find the perfect property, rent it out, collect the rent, pay monthly expenses, deal with tenant problems as they arise and make sure the property is well maintained.

So now what’s stopping you?

http://www.expertrealty.com/FloridaPropertySearch.aspx

South Florida Real Estate and History

By Alexandra Tarallo

Does your South Florida home have a lot of history? What year was it built? If you don’t live in one of the plentiful new developments in our area, your house may have many stories to tell.

One of the best ways to tell what year your home or condo was built is its architectural style. Miami Beach condos built in the roaring 20’s, and in the early 30’s many times feature an architectural style of sleek, geometric, and modern lines called Art Deco.

Old-Florida style homes in Delray Beach resemble homes in Key West and Saint Petersburg. These wood frame homes typically revolve around porches and feature corrugated metal roofs and voluminous ceilings. The style is also known as “vernacular architecture.” If you live in a home like this, it may be holding much history of the past families who inhabited it long ago when Florida was mainly an agricultural state.

The oldest known home in Florida is located in Saint Augustine, and dates back to the early 1700’s. The Spanish Colonial house is now a museum and features evidence of the Spanish, British, and American occupations of Saint Augustine covering 400 years of history. Florida’s history encompasses various sagas including the exploration and settlement, Christian missions, treasure fleets, and pirate raids led sometimes by the infamous Sir Francis Drake.

Perhaps your home is built on an archeological site. Florida’s natives inhabited the area since approximately 10,000 B.C. The Miami Circle in the Brickell area of downtown Miami is an archeological site said to be a Tequesta town once located at the mouth of the Miami River. It is believed to be between 1,700 and 2,000 years old, though there is some controversy on the sites age and authenticity.

Wherever you live, your South Florida home probably has much to teach you.

Wednesday, October 18, 2006

Boca Raton to Build Botanical Garden in de Hoernle Park

Boca Raton plans on developing an $8.3 million botanical garden in de Hoernle Park in the next five years. It will consist of an 80-foot high dome for a conservatory, an amphitheater, a play garden for children and an area for research.

The Boca Raton Botanical Gardens Association Inc. is in charge of the project. They formed two years ago and have raised more than $555,000 ever since.

The project will be constructed in phases as funds become available. City Manager Leif Ahnell said the gardens should be completed in December of 2011.

The gardens are part of a several massive new developments in de Hoernle such as an athletic field and the Spanish River Public Library. The dome is slated to be 50,000 square feet and over 2.3 million cubic feet tall. It will be located on the south side of Blue Lake.

Real Estate Home Warranty

What is the best way to avoid a lawsuit and give buyers additional confidence in a real estate transaction? The answer is relatively simple and inexpensive. Purchase a home warranty plan.

According to American Home Shield, a home warranty is a service contract which helps protect homeowners against the cost of unexpected covered repairs or replacement on their major systems and appliances. The term is usually for one year and it is renewable. It can be purchased by the buyer or the seller and paid at closing.

If purchased by the seller, coverage on the property starts when the warranty is taken out during the listing process and it is transferred to the buyer at closing.

Age of home is not an issue and an inspection is not required.

Seven Suggestions to Make Your Home the One Buyers Remember

Seven Suggestions to Make Your Home the One Buyers Remember

By Mary Damiano

It all started with a floor-to-ceiling, built-in china cabinet.

That was the thing that stood out most to me about the first house my husband and I bought together. Even though the house was on the small side and needed a lot of TLC, it had that china cabinet, something no other house we’d looked at had. There were some other nice features, like a fireplace that didn’t work and real hardwood floors that needed refinishing—like I said, a lot of TLC—but that built-n china cabinet is what stuck in my mind and made us take a second look. And it contributed to us buying the house.

Fast forward nine years, to the next house-hunting expedition. This time the thing that caught our fancy was a ceiling fan with clear blade and a blue neon light. It gave the whole house a cool, hip vibe. We could see the parties we’d have, with our friends laughing and having a good time, lit by that blue neon light. We bought the house.

You never know what will be the thing that will strike a buyer’s fancy. But there are things you can do to make your house more interesting and more memorable to buyers.

Here are seven easy fixes that can make buyers remember your house.

Exquisite Entryway

Wow buyers right from the start with a freshly painted, clean front door. Inside, spruce up your entryway with a nice console table and a vase filled with colorful flowers or a striking piece of art that will make people smile. If you don’t have an entryway, create one with a clever furniture arrangement.

Quick-Fix the Fixtures
Some designers regard fixtures as the jewelry of the house. Inexpensive fixture fix-ups include replacing drawer pulls and handles in kitchens and bathrooms. Spending $60 or $70 on new bathroom faucets can give the powder room a luxe look that can make buyers remember your home.

Corral the Clothes
Organization makes people feel secure, and shows off the possibilities of your space. If you don’t already have a closet system, invest in one. The ideal system these days includes sleek, white melamine shelves with some drawers and metal expansion rods. If you already have a system, declutter the closet and show it off. Other quick organization tips: Organize kitchen cabinets and the pantry, as well as the bathroom storage. No perspective buyer wants to peek in behind a door and see it stuffed to the gills.


Don’t Take It Personally
The goal in getting a house ready for sale is to allow buyers to see themselves in the space, not you. Make sure to remove most of the personal items from the home, such as clusters of knick knacks, personal photos and boxes.

The Nose Knows

Appeal to a buyer’s senses and make sure your house not only looks good, but smells good. Banish pet odors and any other unpleasant smells and when the house is going to be shown have a good candle ready. Try vanilla—it’s a scent that appeals to both men and women. If the house is shown when you’re not home and you can’t monitor a candle, opt for s gel candle that emits a pleasant odor without having to be lit.

Light Up Their Lives
Often the most overlooked aspect of the décor, lighting can make or break a space. While natural light is terrific, not all homes get lots of sunlight. Think of lighting in three ways: task, decorative and ambiance. Overhead lighting is often harsh, so invest in some nice wall sconces or table lamps. One rule of lighting to remember: overhead lighting causes glare, while lamps cast shadows that make a room look larger and cozier. Wall sconces are inexpensive and can really add to the mood of a room. And take it from me, a cool ceiling fan with a killer light might just do the trick.

Get Healthy at Home

By Alexandra Tarallo

New home equals new life? Ideally it does.
Moving gets you rid of excess furniture and clutter that you may not even know you had. You may even decide to redecorate and incorporate a home gym.

Building an affordable home gym is easier than you may think. Why should shaping up at home be limited to celebrities? You too can enjoy a workout in the comforts of your own home.

A few essentials will get you started. Once you’ve designated an area for your new gym, start with a high quality adjustable bench which will convert from flat, to incline, and decline positions. An adjustable bench is extremely versatile and can be used in almost every exercise routine.

Next, select a few dumbbells. Experts consider dumbbells to be one of the best choices when it comes to strength training equipment. As you become stronger, you can always incorporate heavier weights.

The last of your home gym essentials should be a burst-resistant stability ball. They are very popular for core training and abdominal work because they provide great support to the spine and isolate the stomach muscles.

Lastly, a great option for cardio workout is a jump rope. Just 5 minutes will make you break into a sweat and get the job done. A cardio machine is another option; however it takes up more space, and will set you back a few more dollars.

Links to sporting goods stores in your area are provided at:
http://southflorida.expertrealty.com/South-Florida-Real-Estate

-click on your county, city, click the tab “local” and then “shopping.”
Shopping centers are put in context on a colorful map. There are also links and info about the different malls and shopping centers in your town.

*Remember; always check with your doctor before starting a fitness routine.

Tuesday, October 17, 2006

Lions and Tigers and Bears—Oh My

Lions and Tigers and Bears—Oh My

By Mary Damiano

Want to leave the rat race behind, break free of the urban jungle and settle in where the really wild things are?

Officials at Lion Country Safari in Loxahatchee are seeking permission to allow 1,000 homes to be built on undeveloped land next to the drive-through zoo. The land, between Wellington and Palm Beach Gardens, had been designated agricultural, but commissioners had agreed to allow the building of 500 homes on the land.

Lion Country Safari, which owns the land, contends that the homes would be good use of the land and that there is no plan to close Lion Country Safari. In fact, even though the zoo recently decided to close their elephant exhibit, it has added a giraffe feeding exhibit, a Ferris wheel and a water playground. It has also opened a pavilion to draw more events to the park.

But the plan is not going over well with some residents of the area, where growls of overdevelopment can be heard. Right now, homes now sit on 1.25 or more acres, and residents fear that a proliferation of new homes and town homes built in an area at a rate of two per acre will unleash the biggest predator of rural areas: the dreaded suburban sprawl.

Turnberry Associates Does it Again

By Alexandra Tarallo

Considered to be one of the most visionary real estate moves in South Florida, Turnberry Associates founder Don Soffer purchased 785 acres of mosquito infected swamp land in 1967 and turned it into one of South Florida’s most exclusive addresses. Just over thirty years later, Aventura has become a full-blown city that revolves around golf courses, lakes, and exclusive condos, hotels, and shopping centers.

With the opening of the Fairmont Turnberry Isle and Resort in 1970, Turnberry Associates set the standard of luxurious country club living for the future city of Aventura. The city’s Fairmont Turnberry Isle Resort and Club are now in the final stages of completing a $100 million renovation to its already luxurious grounds and buildings.

The resort was one of the first developments of the city. It is set to re-open its doors December 15, just in time for South Florida’s busiest season. Already considered to be one of South Florida’s top luxury resorts and destinations, the resort will feature renovations such as new furnishings in guest rooms including new flooring, complete bathroom renovations, flat screen televisions, and patio furniture. The resort’s Ocean Club will also feature a “Members Only” Club Lounge set to cater to the social needs of its exclusive club members. The golf courses are being completely redesigned by Ray Floyd, a golf Hall of Fame award recipient and are expected to be some of the finest grounds in Florida.

Happy 300,000,000 America

Today is a good day for real estate in Florida. As of this morning the US population passed the 300 million mark and Florida is one of the areas seeing the highest amount of growth. I think all these people are going to need a place to call home.

Here are the components of resident population according the US Census Bureau:

One Birth every…………………………............ 7 seconds
One Death every………………………............. 13 seconds
One International migrant (net) every….. 31 seconds
Net gain of one person every…………….......11 seconds

Monday, October 16, 2006

Kosher Kitchens All the Rage in New Homes

Kosher Kitchens All the Rage in New Homes

By Mary Damiano

Gourmet kitchens have long been a big selling point in new homes. But now, builders are getting even more niche-oriented with their amenities, and designing kosher kitchens in units in walking distance to synagogues.

When Wyndsong Estates were was built near an orthodox synagogue last year in Boynton Beach, they included a kosher kitchen—two sinks, two dishwashers, two ovens and plenty of counter space. The 55 single-family homes sold out in less than a year.

The “kosher home” concept is being marketed to young traditional Jews who want to be near a synagogue and want to keep a kosher kitchen. Buying a home with such a kitchen built in saves a costly, time-consuming renovation.

The concept is so successful in fact, that other communities are in the works, such as Wyndsong Isles, about a half mile away from Wyndsong estates, as well as two kosher home communities in northeast Miami-Dade County.

New Development for Waterfront Homes in Boca Raton

Boca Raton will give birth to a community with 172 luxurious, lakefront homes in two years. It is one of the city's last places for a new major residential area.

Stiles Corp., the real estate company in charge of the project, plans to construct 32 houses and 140 townhouses near a 20-acre lake and the Pondhawk Nature Preserve. There will also be a walkway along the shore that will connect the subdivision to the city, a new library and the Count Hoernle Park Amphitheater located at the north end of Mizner Park.

According to a Sun-Sentinel article, Stiles is not sure on whether it should built a fitness center within the community since residents will be close to a health club on Yamato Road.

The average price for these new Boca Raton homes will range between $600,000 to more than $1,000,000. The company will start production in early 2007.

Lauderdale Lakes Condo Conversion Averted

Another casualty in the Broward County condo conversion industry falls by the wayside. According to the Sun Sentinel, a development group has abandoned its efforts to purchase Hawaiian Palms apartments in Lauderdale Lakes. They had intended to purchase the 245 unit complex and use state housing grants to sell them as condos starting at $139,900.

Unfortunately for them the city of Lauderdale Lakes has place a one year ban on condo conversions. The city needs affordable housing and wants to complete a housing study before reconsidering the ban. The development group decided it would be too costly to fight the city.

Other cities implementing tougher restrictions and considering a ban are Lauderhill and Pembroke Pines.

Friday, October 13, 2006

Improvement of Biscayne Boulevard Underway

Drivers on Biscayne Boulevard may not have to worry about traffic in the future.

The Florida Department of Transportation is planning to reconstruct the road between Northeast 67th Street and Northeast 78th Street in Miami by widening at least one lane on both directions. This will improve traffic conditions that plagued Biscayne Boulevard for so long. Builders will also improve sidewalks, and install new traffic signals and storm water drainage.

The Florida Department of Transportation said that residents won’t be inconvenienced by the roadwork, although a few sidewalks will be blocked.

The project is set to begin on Oct. 23 and will finish in about 16 months. The cost for the reconstruction is set to $7.25 million.

South Florida Luxury Communities Make Forbes List

South Florida Luxury Communities Makes Forbes List

By Mary Damiano

Luxury is alive and well in the Sunshine State. Two South Florida communities have made the Forbes list of most expensive gated communities in the United States.

According to Forbes magazine, Indian Creek on Indian Creek Island in Miami-Dade County is the fifth most expensive gated community in the country, while The Sanctuary in Boca Raton rounds out the list at number 10.

Indian Creek is an exclusive enclave with less than 40 residents. Its low population and extreme wealth of those living on the island makes it the eighth highest income place in the United States, according to 2000 census.

The most expensive property in Indian Creek features seven bedrooms, a whopping twelve bathrooms, a library, a tropical pool, staff quarters, 200 feet of water front, and a four-car garage—just the place to park the Ferrari, Jag, Rolls and Porsche. Residents of the island also enjoy a private 18-hole golf course. The cost for all this luxury and exclusivity? A mere 26.3 million.

If that’s too high a price tag, luxury lovers can travel up the coast to Boca Raton where they’ll find The Sanctuary. The most expensive property listed in this community is an Italianate villa on the water, which features seven bedrooms and eight bathrooms, an English pub room and chef’s kitchen, just the thing for the next time good buddy Emeril stops by to whip up dinner. The price tag? Only $22.5 million.

Of the other communities on the list, two were located in Hawaii and eight were in California.

1031 Exchange, Just Do It

1031 Exchange


The illusive 1031 exchange is not a secret government conspiracy. It’s not just for the wealthy and it’s not something we can’t figure out and take advantage of. According to Realty Exchangers, Inc it’s actually very simple.

Picture this, its summer 1990 you’re riding around with the top down enjoying the cool breeze on your face. You can feel the excitement in the air as the I.R.S. finally releases the long awaited Rules of Deferred Exchanges. Section 1.1031 spells out the process by which the owners of business and investment properties can sell their property and buy another like it without paying Capital Gains Tax.

The basic rules are as follows:

1) The property must be “like kind,” meaning have the same use or of the same nature. It doesn’t have to be the same grade or quality.
2) The exchanger must use a third party, known as a safe harbor, to hold proceeds while the exchange is in process.
3) The most practical safe harbor is a qualified intermediary.
4) Time limits must be upheld.

Although there are a great many details involved in such a transaction, don’t let that get you down. You’ll find lots of help along the way.

Thursday, October 12, 2006

2006 Award Show for South Florida Realty Professionals

It’s time to roll out the red carpet for real estate brokers and developers.

The 2006 Awards of Excellence in Real Estate will take place at the Seminole Hard Rock Café on Nov. 16, honoring the top ranking realty professionals in South Florida. Hosted by the South Florida Business Journal and NAIOP South Florida Chapter, the show is open to the public and provides cocktails and appetizers for guests.

Here are some of the finalists:

Developer of the Year: Butters Construction & Amp; McCraney Property Company

Industrial Lease of the Year: David Albert and Devin White at Codina Realty Services; Larry Dinner and Scott Helms at IDI; Andrew Ansin at Sunbeam Development Corp.

Industrial Broker of the Year: Frank Saia, Phil Saia and Lonnie Bergeron at Bergeron Properties & amp, Investment Corp.; Christopher J. Metzger, Sky Groden and Richard F. Etner at Cushman & amp, Wakefield of Florida Inc.; Jose Juncadella at Fairchild Partners.


Office Broker of the Year: Christian R. Lee and Charles J. Foshini at CB Richard Ellis Inc.

The show will start at 7 p.m. with a performance from Comedian John Reep.

For more information, check out

http://southflorida.bizjournals.com/southflorida/event/2591

Buying VS Renting

Time bombs, hidden messages, unexpected dangers lurking around every corner and maybe things aren’t as they appear or are they? This is not a new James Bond movie, it’s what goes on in your mind when you’re trying to decided if it’s time to make that purchase or keep on renting. Fortunately I have come across a model to help figure it out. According to The Big Picture there are 10 basic factors to consider:

1) Expected appreciation rate
2) Interest rate on a 30 year fixed mortgage
3) Purchase price
4) Property taxes
5) Homeowner association fees
6) Capital gains tax when you sell ( if applicable)
7) Maintenance costs
8) Holding period
9) Estimated tax deduction (for the full holding period)
10) Alternative monthly rent

I find it a lot easier to make a decision when I know what I’m looking for and when I have the facts laid out in front of me. Now I just plug in the numbers and see if it makes sense.

Magic Johnson Works Magic in the Housing Market

By Mary Damiano

Former NBA star Earvin “Magic” Johnson plans to work a little magic in the Magic City.

Johnson is head of an investment fund with a majority stake in a major condo project in Little Havana, aimed at making housing affordable again near downtown Miami.

The complex will be called Morrison, and will include 395 units in two 19-story towers. The project will include ground floor retail space as well as office condo space. The Morrison project will break ground next year and is set for completion in 2009. Units will cost between $250,000 and $350,000, with a 5 percent down payment instead of the usual 20 percent.

A project like this could help solve a problem that’s been brewing for years in the wake of skyrocketing housing costs: What happens to workers who have been priced out of South Florida’s housing market?

That has been a concern of Johnson’s, who formed Canyon-Johnson Urban Funds in 1999 with business partner Bobby Turner, with an eye toward investing in urban areas. Johnson has said that he believes developers and local governments have ignored urban revitalization, opting instead for regentrification, which draws well-heeled homeowners to once blighted areas, forcing out residents who already call the place home.

Johnson’s philosophy is simple: make neighborhoods nice for people who live there, keep it affordable and don’t displace residents in favor of wealthy buyers.

The Morrison will be built at Flagler Street and Southwest Avenue in Little Havana. Canyon-Jones has already invested in other parts of Miami, including Downtown Dadeland, a condo and retail project being built in the burgeoning downtown Kendall area.

Oakland Park Makeover Set to Boost City’s Real Estate Market

By Alexandra Tarallo

Oakland Park’s goal to establish the downtown area’s Main Street as a destination of choice is beginning to slowly take shape—some may say too slowly. Renovations started last year after receiving an $80.5 million boost from the Florida League of Cities.

Downtown’s beautification began with added trees and plants, new sidewalks, and the installation of new lampposts along the 1,000 acre redevelopment area that is set to become a mixed-use pedestrian district. A number of private investors have followed, encouraged by the city’s new zoning district plan.

Apart from open areas and parks, new shops and restaurants, the new downtown district will feature contemporary residential communities such as The Point at Middle River, the Oakland Park Station, and the Oceanic Town homes.

The Oaks at Oakland Forest broke grounds this summer. The community is set to feature town homes with impact resistant hurricane glass windows, underground utility service, heated pool and cabana baths, as well as a number of other first class amenities at affordable prices, starting in the 300’s. The Oaks is scheduled for completion April of 2007.