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Getz Molina

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Four Bedroom, 3 Baths Hollywood Lakes area

 

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Learn More About Condominium-Hotels

I just completed a preview of the new condominium-hotel conversion at the Gallery One. It is located on the Intracoastal in Fort Lauderdale just east of the Galleria on Sunrise Boulevard. Prices range from the $200s to $700s.

Each of these developments have different rules about owner occupancy (for example - - zoning regulations on Fort Lauderdale Beach allow owners only 90 days a year in residence) and hotel room revenue, maintenance fees, taxes, etc.

Interested in learning more, drop me an email or call me at 954-465-4132.

Buying and Flipping and Buying and Flipping and....

Buying and flipping pre-construction housing is not only a South Florida phemonenon. See this article from the March 1 New York Times. (Free registration may be required)

Home Prices Continue Surge

With fewer properties on the market, and continuing demand for homes in South Florida, home prices continue to rise. See the details in this article from the Sun-Sentinel. (Free registration may be required.)

Long Term Mortgage Interest Rates Decline Confounding Experts

The Wall Street Journal reports that long-term mortgage interest rates are declining, making the traditional 30 year loan a better value that a short term adjustable. Read the details and analysis at WSJ online. (Paid subscription required). Or call Steve at 954-467-0105 for a copy.

The Donald Comes to Fort Lauderdale

It had to happen sooner or later. The Donald (Trump that is) has sealed a deal to build a condo-hotel on the Fort Lauderdale Beach. It will be designed by Michael Graves (Target, Disney) and located on the northern portion of the beach. Here's the Sun-Sentinel article (free registration may be necessary).

Beaches to be Restored

The Broward County Commission has awarded a contract to restore the beaches from Port Everglades to Avenutura. Recent hurricanes added to beach loss, according to the Sun-Sentinel.
(Free registration may be necessary to view article).

Developer Wants to Build 400 Market-Rate Condos on Sistrunk

After years of negotiations, a developer is proposing to build 400 market rate condos on Sistrunk near downbtown Fort Lauderdale. It is meeting resistance from community and political leaders who used Federal money to buy and clear the land years ago for affordable housing. See this report from the Sun-Sentinel.

State CFO Calls for Insurance Rate Freeze

The insurance industry, battered by four Florida hurricanes this year, is planning big increases in Homeowners insurance rates. But Florida CFO Tom Gallagher is calling for a moratorium on premium rate hikes. This from the Sun-Sentinel.

Reverse Mortgages Can Help Your Parents

Take a look at this column from the Wall Street Journal about reverse mortgages. While elderly parents told the survey that they did not want to use reverse-mortgages because it would deplete the inheritance to their children, the adult children want their parents to use their equity to improve their lifestyle.

Ikea Coming to South Florida

If you have ever been through their catalog or website, or visited one of their stores in the United States or Europe, you will be delighted to learn that Ikea is keeping up their search to build a store in South Florida. Here's the take from the Sun-Sentinel. Ikea is looking at the old Blockbuster Golf and Games sight in Sunrise after being rebuffed by Davie last year.

Are Condo Hotels Good for Your Portfolio

The Wall Street Journal has weighed in on the affect Condo-Hotels may have on your portfolio. With all the opportunities available in South Florida, this is some worthwhile reading.

If a Condo-Hotel is right for you, contact me and we'll review the opportunities.

Family-Friendly South Beach

The Sunday New York Times has another feature about our community. This one touts, of all things, family-friendly South Beach. Here are the details. (Free registration may be necessary).

Uptown Village Has A Holdout

The Tarragon Development Corp. is planning to develop the South Middle River area of Fort Lauderdale that includes Andrews Avenue from N 17th Street to the South Middle River.

But one neighborhood bar is holding out. See this article from the Sun-Sentinel.

If you are interested in buying or selling near the new Uptown Village, click here.

SoHo Developer Placing Bets on Wynwood

The January 16 issue of the Sunday NY Times features an article about Tony Goldman, the developer who targeted New York's SoHo in the 70's, and South Beach in the 80's. Now he's buying in Wynwood. Read the article here, then call me at 954-465-4132, send me an email at stevenbeste@keyes.com or click here, if YOU are interested in buying or selling in Wynwood.

Hottest South Florida Home Sales

NBC6 and the Keyes Company commissioned a study of the Multiple Listing Service, the database of home sales across South Florida.

Then, we ranked zip codes in four categories:

The most properties sold

The fewest days on the market

The highest average price

And the most gain in value.

Wonder where your Zip is in the list? Just click here.

Want to know what your home is worth? Click here!!

Condo Sales Up as Home Prices Soar

The demand for condos is going up as more and more people are being priced out of the single-family home market. For a thorough analysis of the market today, take a look at this article from the Sun-Sentinel.

Prices Increase in Fastest Rate in 25 Years

Prices in the 3rd quarter rose an average of 13 percent compared to 3Q/2003, according to the Washington DC based Office of Federal Housing Enterprise Oversight. It was the biggest increase since 1979. The slowest growth state was Texas with 3.8% growth.

Florida ranked 7th in price growth, with a 19.6% In the 3Q alone, prices rose 6.3%

Economists are predicting a slight rise in interest rates, to 6.01% in 2005, which may mean that the fastest rate of appreciation may be behind us, but the appreciation rate will still be above average.

Laundry Room Tops List!!

Laundry rooms top buyers' list of most desired extra rooms, regardless of the property size or the buyer's income, according to a survey by the National Association of Home Builders.

Laundry rooms are no longer relegated to the basement, and many buyers are requesting more than one. In addition to washers and dryers, homeowners want cabinets, countertops, drying racks, and pull-down ironing boards, among other amenities. Laundry rooms are now multi-purpose spaces, where homeowners store cleaning and pet supplies, surf the Web, and do crafts.

Builders of single-family homes priced under $200,000 have made deluxe laundry rooms a standard feature, and many are including them in multi-family structures as well.

Home Values Up 24% Over October 2003

In its latest report the Realtor Association of Greater Fort Lauderdale announced that the median sales price in October for a single family home was $292,000, up from $235,000 in 2003.

Condo sales were up 21% from $120,000 to $145,000.

For details and a copy of the report, contact me at steveblog@bellsouth.net.

South Florida is Appreciating

Local NBC affiliate WTVJ - Channel 6 has updated its story of the areas of South Florida where property values are appreciating the most. To see the report, click here.

Wonder what your house is worth? Send me a message by clicking here.

Swank Oakland Park!!

The Oakland Park City Commission has approved zoning changes that developers say will spark the redevelopment of Dixie Highway from Oakland Park Boulevard north to NE 42nd Street. Read the coverage.

Eastside Village Lofts and Townhomes is being submitted for planning and zoning. Interested in living or investing in this development. Click here.

King Tut Coming to Fort Lauderdale

The King Tut exhibition is coming to Fort Lauderdale. This will bring nationwide attention to our community. The exhibition was turned down by some major museums due to the cost of mounting the exhibition and the high fees that will have to be paid by attendees. Read the coverage in the Sun-Sentinel and the New York Times. Here's a link to the Fort Lauderdale Museum of Art.

List Your Home During the Holidays

Homeowners who put their property for sale during the holidays will attract serious buyers, many of whom base their decisions on the emotions invoked by the season.

Buyers who shop during the holidays have fewer choices but more time to search due to work closures. Additionally, many are anxious to complete their purchases before the new year in order to take advantage of tax breaks and other financial incentives.

Meanwhile, sellers often find that holiday decorations jazz up the home's appearance. A holiday sale also allows them to make their replacement-home purchase during the busy spring homebuying season, when there will be more properties to choose from. In that case, sellers might want to request a later closing date or get the buyers to agree to let them stay until the start of the New Year.

Source: Nashua Telegraph (NH) 11/21/04); Ireland, Lois E.

Hurricanes Dampen Home Sales in Florida

The fiercest Hurricane Season in years is taking a toll on Home Sales in Florida. But fairly priced homes sell within a week. See this article from the South Florida Sun-Sentinel.

Looking for a New Home?

Here's a link to my Realtor website that will let you search for a new place to live.

About Steven Beste

Steve’s first claim to fame is being a contestant, an imposter - - winner of the Yuma River Inner Tube Race - - on the classic TV Show ‘To Tell The Truth’.

Steve became a licensed real estate associate after successful careers in education, insurance and broadcasting. He was Director of the Executive MBA Program of a major South Florida public university. Prior to that, he was Vice President of Marketing and Advertising for a major Excess and Surplus Lines Insurance Intermediary. Steve’s been on both sides of the camera and microphone on TV and Radio in Rochester, New York. And in South Florida, he was on-the-air talent at WLYF. As a teenager, he was part of the New York City All-City Radio and Television Workshop, the launching pad of famous entertainers like Cousin Bruce Morrow and Angela Bofill. He’s appeared in numerous industrial shows and films for Eastman Kodak and Xerox and does commercial voice-overs.

Born in Brooklyn, New York, Steve became a Florida resident in 1982. He’s lived in the East Broward neighborhoods of Wilton Manors, Rio Vista, Sailboat Bend and the Morningside neighborhood of northeast Miami. He’s owned investment properties in Fort Lauderdale.

Steve majored in History at SUNY – Brockport and earned his Master of Business Administration with a concentration in International Business at Florida International University.

Steve’s free time is spent enjoying the beach and the gym and walking his bad puppy Ruffy. He is a global traveler, having visited France, Australia, Italy, Belgium, the United Kingdom, Mexico, Argentina, Brazil, Hong Kong and China, Malaysia and Singapore. Ask him for his travel tips!