Fort Lauderdale Real Estate 

The Wall Street Journal says The Housing Crisis is Over
May 6, 2008, The Wall Street Journal says its over.  That's right.  That was the headline on an article on page A23.  It opened by saying "it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now"  For the full text of that article, Just ask Ask Andy for a reprint of this article. 

Misleading home-value figures provide inaccurate readings of the U.S. economy
May 1, 2008, The Wall Street Journal's Market Watch says commonly cited measures of U.S. home prices are overstating the degree to which the vast majority of Americans' home values have declined in the last year, producers of two of the most widely tracked indexes acknowledged this week. Click here for details.

Proposed 25% Tax Cut Makes This a Great Time To Buy
March 19, 2008, A measure approved by the state's tax commission and headed to the November 2008 ballot will reduce property taxes and put a cap on tax assessment increases whether or not the property is homesteaded.  That means owners of commercial property, vacation homes, everybody, will be able to relax about tax hikes from year to year.  Click here for more details.

Recovery by End of 2008 Predicted
March 17, 2008, SMR Research Corp, the people who predicted the housing bubble as early as 2002 and the foreclosure crisis way back in 2004 have good news.  They predict a recovery with housing prices firming up by the end of the year.  They say houses are affordable again, and consumer psychology is the only remaining obstacle.  Click here for more details.

What Housing Slump?
March 12, 2008, South Florida Sun-Sentinel reported that the City of Fort Lauderdale has given the go-ahead to 629 new condos and apartments that have been in the works for a while.  In spite of the current slump, developers are looking to the long term and know Fort Lauderdale remains an attractive place to live and work.  And the smart money knows we are not going to suffer form the excess supply of condos that has ruined the real estate market in Miami.  Ask Andy for a reprint of this article. 

Ignore The Headlines
Time Magazine published an article in February 2008 headlined Ignore The Headlines that uses reason and logic to analyze the buying and selling of real estate.  Finally a writer who understands how real estate really works. You'll need a PDF reader like Adobe Reader to view this article Click here. 

Federal Program will benefit buyers of expensive homes
USA Today reports February 25, 2008 that the economic stimulus package will bring FHA, Freddie Mac and Fannie Mae benefits to buyers taking loans up to $729,000.  In some areas, FHA will actually insure a $729,000 mortgage up to 125%.  Ask Andy for a reprint of that article. 

NAR: Stable existing-home sales expected in early 2008, then gradual rise
Over the next few months, existing-home sales are expected to hold fairly steady as indicated by pending sales activity, then rise later in the year and continue to improve in 2009, according to the latest forecast by the National Association of Realtors® Click here for the complete article.

NAR: Worst is over – existing-home sales to trend up in 2008
Existing-home sales are projected to trend up in 2008, with pending home sales showing a slight near-term rise, according to the latest forecast by the National Association of Realtors® (NAR). However, a recovery for new-home sales is unlikely before 2009  Click here for the complete article.

Falling home prices squeeze consumers
A December 10 Associated Press piece published in the South Florida Sun-Sentinel, points out that Homeowners started losing hold of their homes years before spiking foreclosures and the housing slump slammed the economy.  Interesting article.  Click here for the complete text of the article. 

Broward Home Prices Near Standstill as Slump Continues
Though sales volume has slowed and record numbers of homes are on the market to choose from, Broward County home prices managed to rise 1% in October 2007 from October 2006.  Condos weren't so fortunate. Still, Broward County continues to hold up better than the rest of the state of Florida and the nation as a whole.   Now is the time to buy.  Click here for the complete article.

Pending home sales index rises
Pending home sales are higher, affirming the stabilization that is occurring in home sales.  The monthly gain was the biggest increase since March 2004. A steady narrowing from year-ago readings has been observed since last July when the level of unsold housing inventory peaked at an all-time high.  Click here for the complete article.

Fort Lauderdale Real Estate - Median Prices UP, Sales Down in 2006
Florida existing single family home sales dropped in 2006 even as prices rose 6% state wide during the year. Modest quarterly gains predicted for 2007 because of low interest rates and the overall attractiveness of Florida's climate and employment rates.  Click here for the complete article.

Steady Rise in Home Prices Predicted for 2007
January 8, 2007, Economist assures us that home prices will rise steadily through 2007 because of interest rates lower than economists had predicted and unemployment remaining low and other factors.  “Despite the doomsayers, household wealth will not evaporate and the economy will not go into a recession". Click here for the complete article.

Use your clout wisely and you'll do well in this 'Buyer's Market' 
January 8, 2007, South Florida Sun-Sentinel carried an article with important tips for buyers in this new Buyer's Market.  We have a summary online of this article, where even doomsayer Jack McCabe agreed that "If you're a buyer, this is your time now." Click here for that summary. 

Home sales volume down, prices reduced to make deals
December 29, 2006, Miami Herald told us that sellers in South Florida are repositioning prices in the face of reduced demand, but homes are being sold.  Existing home sales are down in Broward County as the median price dropped to $362,000.  Condo prices in Broward remained flat even with increased supply.  Even the usual doomsayers are now predicting a soft landing.  The time to buy is NOW.  Ask Andy for details from this Miami Herald article on home sales. 

Sellers drop prices, buyers coming back
December 29, 2006, New York Times carried an encouraging article saying that the combination of recent price reductions and  two monthly increases in home sales volume could mean the end of the real estate slump nationwide.  Ask Andy for the rest of the good news from this Times article.

U.S. existing home sales, consumer confidence up
December 28, 2006, Reuters reported great news overall for the economy, existing home sales up to levels that defy Wall Street predictions, consumer confidence at an eight month high and unemployment numbers better than expected, and even the manufacturing sector doing better.  Want to see the whole article?  Email Andy for the December 28 Reuters article on Consumer Confidence.

Florida Population Growth slows to a more normal 1.8%, though South Florida expected to continue with robust growth
December 23, 2006, South Florida Sun-Sentinel reported that Florida's population growth slowed to 1.8% in 2006, making us 9th fastest growing state, down from number four.  This is in part due to unusual growth in Texas, Georgia, North Carolina, South Carolina and Tennessee as people migrated from Louisiana.  Still, South Florida remains a popular destination and a Florida Atlantic University study still predicts the seven counties from Vero Beach to Key West as the region's population soars from 5.9 million to 8.4 million people by 2030.  Ask Andy for the full text of the article on Florida 2006 population growth. 

Florida’s existing home sales down, median price levels in October 2006
November 28, 2006, The Florida Association of Realtors reported that October saw a leveling off of prices, with home prices down only 5% from the previous year and condo prices up 8% from a year earlier in spite of a 21% drop in sales volume. Click here for the full text of the release from Florida Association of Realtors. 

Yacht owners create demand for luxury hotels
October 27, 2006, South Florida Sun-Sentinel reported that affluent boat owners in town for the 2006 Fort Lauderdale International Boat Show boat show have filled luxury hotels to capacity, and that the increasingly upscale clientele is causing older beach hotels to upgrade.  This means a great future the Fort Lauderdale Beach super-luxury condo hotels now under construction.  Ask Andy for details on how the Fort Lauderdale Boat Show impacts local hotels.

Doomsayers Ignore the Positive News
October 15, 2006 Miami Herald article asks why, with interest rates near 40 year lows, mortgage applications up, unemployment down, and the economy expanding, are people predicting doom for the housing market. This article looks to Donald L. Kohn, the Federal Reserve's vice chairman; James Glassman, a managing director at JP Morgan Chase; and Doug Duncan, chief economist of the Mortgage Bankers Association for answers.  This is a great article.  Ask Andy for a copy of the article that helps put news on home prices and sales in perspective.

Hopeful Glimmers in the Housing Slump
October 11, 2006 AOL Real Estate and BusinessWeek Online reported signs of a recovering housing market and confirmed our confidence that the drop from unsustainable levels of price increases are a good thing for the housing market.  Ask Andy for more information in the article that said "Sure, prices fell. But look at the big picture: The market is adjusting to reality and some of the news is better than expected"

Pending Home Sales are Up
WASHINGTON -- Oct. 3, 2006, Pending home sales are up, indicating a stabilization is taking place in the housing market and demonstrating that Fort Lauderdale residential real estate will maintain values in the long term.  Click here for the complete article on recent pending home sales statistics. 

August Homes Sales Figures Show Uptick in Sales, Lower Prices
September 28, 2006, The New York Times reported that sales of new homes increased in August nationwide for the first time in several months, but that prices have decreased for the first time in years.  Ask Andy for a copy of the article that says Signals mixed in August as sales of new homes rise, but prices fall

Ft Lauderdale Real Estate Price Trends Mirror National Trends
September 26, 2006, South Florida Sun-Sentinel confirmed that the drop in single family home prices and sales volume in Fort Lauderdale residential real estate closely mirrors the national trend.  Prices for single family homes were down 1% in August from the previous year.  Condo prices still moved up 1%, though sales volume was down.  Ask Andy for a copy of the article that says our "trends mirror what's happening nationally".

Creative Investors Can Make Profits in 2006
September 11, 2006, Robyn A. Friedman penned an article in the South Florida Sun-Sentinel showing how creative investors can make profits even with shifting markets, changing interest rates and the uncertainty of today's real estate market.  Ask Andy for a copy of the article that says "moneymaking real estate opportunities still abound in South Florida"

Negative News Stories Contributed to July Home Sales Decline
September 5, 2006 the Chief Economist at the National Association of Realtors affirms our common sense belief, that with jobs being created, the economy growing and interest rates still favorable, indeed it was psychological factors like negative news stories as much as anything else that caused July's home sales numbers to decline.  Click here for the complete story from the National Association of Realtors.

Ft Lauderdale will not be impacted by a condo oversupply.  On August 20, 2006 the South Florida Sun-Sentinel reported that overdevelopment and speculative buying could lead to serious downturns in the condo market in Miami and West Palm Beach, but that good government in Fort Lauderdale will minimize the impact.  Buying in Ft Lauderdale is still a great investment and it's a great place to live and work.  Ask Andy for details on the article that said Ft Lauderdale will not be impacted by condo oversupply.

In spite of the lack of buildable land, Housing starts in Broward are up up 54% from a year ago.  July 31, 2006 The South Florida Sun-Sentinel reported that construction of new homes in Broward County is up 54% from the second quarter of 2005.  This reflects a market that remains optimistic, even in spite of a temporary sales slump.  Ask Andy for details on the 54% increase in housing starts.  

Fort Lauderdale home and condo sales are down and prices have leveled off
It's a fact, confirmed in a June 28, 2006 story in the South Florida Sun-Sentinel.  Home and condo sales are down in Fort Lauderdale and the rest of South Florida, and while prices have not dropped, they have leveled off.  Sellers are eager and this is a great time to buy!  Buy now before interest rates go up and cancel the benefit of today's prices.  Ask Andy for details on the June 28 article with the May 2006 home and condo sales information. 

Bargain Hunters seek new homes, making existing homes a great buy
June 27, 2006, Bloomberg News reported that a rise in the volume of new home sales is good news for the economy and has brought the number of unsold new homes to a new low, but has left an oversupply of existing homes.  Ask Andy for details on the Bloomberg article on new home sales. 

Some South Floridians Leaving for Other States
June 4, 2006 the South Florida Sun-Sentinel reported that some Floridians are selling their homes and moving to Georgia, the Carolinas and even Tennessee where they can buy more property for the same money.   Many are making the move to live in more homogeneous communities.  The article says "...hurricane seasons haven't stopped people from flooding into Florida at the rate of 1,000 a day. But plenty -- 400 a day -- are heading out, to North Carolina, Georgia and points beyond".  This net increase in population assures that our property values will continue to climb. 

Number of unsold homes is high but prices still up 11% over March 2005.
April 26, 2006 the South Florida Sun-Sentinel and Miami Herald reported in various articles that, similar to the rest of the US, the supply of unsold previously owned homes is up in South Florida.  The number of sales dropped from March 2005 in some areas but prices in Broward County are still 11% higher than one year ago, with a median price of $368k for a single family home, $202k for condos, 16% higher than a year ago.  Ask Andy for the rest of the information in these April 26, 2006 articles. 

Florida leads the nation in job creation for 41 consecutive months
March 30, 2006 the South Florida Sun-Sentinel reported that Florida has created more new jobs than any other state in the nation, and according to the state Agency for Workforce Innovation, we have done so for 41 consecutive months.  Our unemployment rate is only 3.2%, far lower than the 4.8% national average.  295,400 new jobs were created in February 2006, 67,000 of them in the professional and business services sector.  Ask Andy for the article on Florida's amazing job creation rate.

Hurricanes did not deter South Florida tourism in 2005
February 28, 2006 the South Florida Sun-Sentinel carried an item saying that people want their sunshine and that tourism in South Florida actually increased in 2005 despite four noteworthy hurricanes over a two year period.  And as long as people want to vacation here, they will want to move here.  Ask Andy for the article on Tourism strength in 2005 in spite of hurricanes.  

Market cooling is good news for buyers
February 11, 2006 the South Florida Sun-Sentinel carried a front page article on the normalization of the real estate market in South Florida.  It explains how the rapid appreciation of prices in recent years was unsustainable and unhealthy for the market and how the slow-down will benefit buyers. See Andy's article on the same topic or Ask Andy for the article on how the market cooling will help Fort Lauderdale home buyers.

High-rise speculators likely in for a fall
January 28, 2006 the South Florida Sun-Sentinel carried a story on the front page of the Business Section that the market for downtown condos has peaked and problems are all but certain in in Miami and West Palm beach, but not Fort Lauderdale, where the city imposed control on growth and far fewer units are coming on the market at the same time.  Want more details?  Ask Andy for the article that says Fort Lauderdale will be OK when condo glut impacts Miami. 

South Florida residential real estate market cools down, from red-hot to hot. 
That was the news January 26, 2006 in both the South Florida Sun-Sentinel and the Miami Herald.  Though 2005 saw record appreciation of South Florida homes, the market leveled off slightly in December, to a median price of a single family home of only $369,000, though prices were still 22% higher than a year earlier.  This is a great time to buy.  Ask Andy for details of these January 26 stories on real estate market trends, and prepare to buy now. 

Fort Lauderdale OKs 3,000 more Residences Downtown; 15 % to be 'affordable'
January 19, 2006, South Florida Sun-Sentinel reports on the first page of the local section that city commission unanimously voted to welcome another wave of well planned residential development downtown.  The commission is asking authorities in Tallahassee to sanction 3000 more residences in the urban core, making Fort Lauderdale a more engaging and energetic world class city.  Ask Andy for more about the 3000 More Residences Downtown story.

Real Estate Investors Selling Won't Impact Fort Lauderdale
January 12, 2006, Orlando Sentinel reported that areas of the country where investors and second home buyers have bought 39% or more of homes sold could see prices flatten if those investors begin to sell.  That will impact areas like Miami, Tampa-St. Petersburg and Jacksonville here in Florida and Las Vegas, San Francisco, Phoenix, Tucson, and Honolulu.  Fort Lauderdale has simply not seen this level of investor or second home activity and our prices would not flatten the way they might in other markets.  Ask Andy for a reprint of the article on Economists Explain Impact of Investor Sell-off. 

Fort Lauderdale Approves 42-story Condo Near Stranahan House
December 7, 2005, South Florida Sun-Sentinel reported on the front page that at last, after all the fussing and fighting, the City Commission voted 3 to 2 to give final approval to a gleaming new 42 story tower with 272 luxury residences and tons of parking, retail and more.  Ask Andy for the full background on this site and get on the waiting list to reserve residences there.  

South Florida Outpaces US in Job Growth. 
December 17 2005, South Florida Sun-Sentinel, Business Briefs, confirms that South Florida and Broward County lead the nation in job creation, with over 59,000 new jobs in a year.  Unemployment in Broward is down to 3.6%.  Palm Beach and Miami-Dade Counties reported similar numbers.  Email Andy and ask for the link to the 2005 Year End Employment Report.

Home Prices Won't Slow Down According to Leading Economist
November 18, 2005, Palm Beach Post reported on a talk given by economist David Lereah, who said that "Although some real estate markets nationwide will suffer setbacks ... Palm Beach County and [South Florida] can thank Baby Boomers for a strong market for the next 30 years".  Want to read more? Ask Andy for the full text on home prices might level but won't stop.  

Home Sales Remain Strong in Spite of Hurricanes
November 18, 2005, South Florida Sun-Sentinel a story titled "Hurricanes test sales of S. Florida homes" says that "five hurricanes in 13 months won't burst South Florida's housing bubble, most experts agree, but the storms could change the way people look at homes".  People will look for different features in homes but the real estate boom will only turn into an expansion, not a bust. Ask Andy for the article on home sales staying strong after storms, and median price in Broward rose to $379,400, up 30% from a year earlier.  Ask Andy for the excerpt from the article on home sales staying strong after the storms. 
 

Storm Related Materials Shortages Will Drive Up Home Prices
September 22, 2005, South Florida Sun-Sentinel reported that Hurricane damage and the amount of rebuilding to be done after the storms of 2005 will create huge additional demand for building materials and further inflate housing prices in South Florida and elsewhere.  Plywood has already increased by more than 50%.  Framing lumber is up more than 13%.  The cost of oil to transport materials increases and our ability to import concrete and lumber is hampered by damage to the port at New Orleans.  All of this will continue to drive new home prices upward.  Ask Andy for the full article on storm related materials shortages and new home costs.  

42 Story Luxury Tower Next To Stranahan House Inching Toward Approval
September 27, 2005, South Florida Sun-Sentinel reported that this proposed 42 story condo at 500 East Las Olas Boulevard is still inching toward approval  The latest and hopefully last lawsuit to stop the luxury tower from being built next to historic Stranahan House has been thrown out by a judge.  Next stop: a full City Commission vote.  Ask Andy for the articles on the latest on the Hyde Park Market Site.  

Prices of Single Family Homes rise another 28% in July 2005
August 24, 2005, South Florida Sun-Sentinel reported that median price of a single family home in Broward County is now $385,600.  Ask Andy for the article on Median Home Prices as of July 2005

Florida is market leader in growth of hotel condominiums
June 6, 2005, See Andy's recent article on Hotel Condominiums in Fort Lauderdale.

Miami Condo Over-Supply
May 30, 2005, South Florida Sun-Sentinel featured an article on Investment Strategies pointing out the staggering number of Miami condos under construction and said investing in Broward is a much better bet.  In the expert's own words, "Real estate investors looking for quick profits should think twice about buying Miami condos at this stage."  For more details on the Oversupply of Miami Condos, click here. 

Home Prices Still Soaring in South Florida on Big Demand, Low Inventory
May 25, 2005, South Florida Sun-Sentinel front page article says inventory of homes for sale is so tight and homes are selling so fast that buyers are being forced to pay prices well above the median.  Broward County sales volume dropped 19% from previous year because so little is on the market.  For more details, Ask Andy about the Home Prices Still Soaring article from May 25th. 

Hollywood Approves 65 Foot Cap on Building Height on the Beach
May 19, 2005, South Florida Sun-Sentinel article on the front page of the local section reports that the City of Hollywood Commission voted to limit future construction of new condominiums and hotels along an eight block stretch of prime beach in Hollywood to 65 feet, a change from the previously considered 15 story limit.   Ask Andy for details on the Hollywood Building Height article. 

Building Material Cost Hikes Raise Housing Prices
May 17, 2005, South Florida Sun-Sentinel article on the front page of the Business Section spelled out how increases in concrete prices (30%) and other other building materials (15%) have contributed to higher costs of new Ft Lauderdale homes.  Building materials costs are rising at nearly twice the rate of other consumer commodities.  For more on this topic, Email Andy and ask for the article on Building Materials Costs Push Home Prices Up.

Florida Home Prices Soar 
May 13, 2005, South Florida Sun-Sentinel reported that costs of new Fort Lauderdale Homes are going up faster in Florida than anywhere else in the nation, driven by low interest rates, massive influx in population and investor speculation.  For details on this press report, Email Andy to see the May 13, 2005 Florida Home Prices Soar article. 

Prices Up, Supply Down
April 26, 2005, South Florida Sun-Sentinel, and Miami Herald reported that prices of Broward County homes were up 31% in March 2005 compared with March 2004, to a median price for single family homes of $332,400.  The sales volume dropped 10%, caused by a lack of homes on the market.  For details on these press reports, Email Andy and ask for April 26, 2005 News Reports on Home Prices. 

Scarcity of Land Slows Homebuilding, increases prices
April 21, 2005, South Florida Sun-Sentinel, A Business Section article explains that the scarcity of developable land has slowed new construction of homes in Broward, Miami-Dade and Palm Beach Counties, putting more upward pressure on Fort Lauderdale real estate prices.  Ask Andy for details on the article about Scarcity of Land Slows Housing Starts. 

Florida Population will surpass New York by 2011
April 21, 2005, South Florida Sun-Sentinel, A short article based on 2000 US Census says that by 2011, Florida will be the third most populous state after California and Texas, and that by then Florida will have 19.6 million people, surpassing New York's population by 154,000.  Ask Andy to send you more details on the Florida 2001 Population article. 

OceanSide Will be Pivotal in Renaissance of Pompano Beach
April 18, 2005, South Florida Sun-Sentinel, Business Section, Gives available details on all three planned phases of WCI's OceanSide development for a prime beach location in Pompano Beach, which will change the character of that entire city.  Andy was quoted in this article.  Ask Andy for details from the article on OceanSide Will Change Pompano. 

When Will the Bubble Burst
April 18, 2005, Express South Florida, Real Estate Section, Andy Weiser contributed an article on chatter about when Fort Lauderdale's purported bubble in the Fort Lauderdale real estate market might burst.  His thoughtful analysis says it will not burst because of tight supply and ever increasing demand.  Ask Andy for his article When Will the Bubble Burst. 

Consumer Reports Publishes a How-To for Homebuyers
April 11, 2005, South Florida Sun-Sentinel, The May 2005 issue of Consumer Reports will include a special report to help home buyers save money and avoid hidden costs.  Synopsis of the CR feature was published in the Sun Sentinel.  Ask Andy to show you the Consumer Reports Article on Home Buying article. 

Broward Home Prices Skyrocket
Supply of houses available for sale getting tighter
March 24, 2005, South Florida Sun-Sentinel, A Front Page story reported that Broward County home prices jumped 32 percent in February 2005, to a median of $319,400.  The number of homes for sale dwindled, as did the number actually sold, dropping 16 percent, increasing upward pressure on prices.   Email Andy to ask about the Broward Home Prices Skyrocket article. 

Tallest Hi-rise Condo Yet Proposed for East Broward Boulevard
March 16, 2005, South Florida Sun-Sentinel, The City of Fort Lauderdale has received plans for a 48-story condominium which, if approved, will be the tallest building in the county.  This skyscraper is planned for 111 East Broward Boulevard, a few blocks north of luxury hi-rises along the river and Las Olas Boulevard. Follow developments on this page regarding approval of this project.  Email Andy for a link to 48 Story Condo on East Broward Blvd.  

Broward approves thousands of new residences in Lauderdale, Hollywood
March 16, 2005, South Florida Sun-Sentinel, The Broward County Commission has given their first round of approval to 3000 more residences in downtown Fort Lauderdale.  This is just a first step as the state will have to approve this expansion and then the County Commission will have to review it again.  Commissioners also gave Hollywood the green light to expand the territory it considers downtown, which will allow that city to expand development into blighted areas.  For more details, email Andy for a link to Broward approves growth of Downtown Lauderdale and Hollywood.

Trump condo-hotel aims for 5-star atmosphere
February 28, 2005, South Florida Sun-Sentinel, An article in the Business Section provided the first details on the proposed 24-story, 298 room condominium hotel being built on Fort Lauderdale Beach by Donald Trump along with Roy Stillman and Bayrock Group LLC, a resort and hotel development company.  Rooms and suites at this five star resort will be 530 to 4,000 square feet and are priced from $500,000 and $3 million.  Email Andy and ask for the link to Trump Condo Hotel Details Available Now

Prices soar for homes in South Florida
February 26, 2005, South Florida Sun-Sentinel, (Front Page, Above The Fold) South Florida home prices jumped more than 20 percent in January 2005 compared with a year earlier, as sales activity slowed because of a tightening supply of for-sale properties.  Home prices soar because interest rates remain low and people continue to relocate to the area in large numbers.  Median sale price of Broward County single family homes rose 33% to $310,500.  Email Andy and ask for the link to Prices Up Another 20 Percent in January 2005

Fort Lauderdale OKs Luxurious Trump Tower Along Beachfront
January 31, 2005, South Florida Sun-Sentinel, A hotel bearing Donald Trump's name and the design of renowned architect Michael Graves was unanimously approved Tuesday night, giving momentum to a project considered key to the beach's transformation to a classy tourist destination.  Email Andy and ask for the link to City Commission Approves Trump Beach Hotel

Huge Demand Behind Soaring South Florida Prices
January 31, 2005, South Florida Sun-Sentinel, Business Supplement, reports that the market in Broward County is good for sellers but difficult for buyers due to lack of inventory.  The population is growing as people move to South Florida.  There is no more land to develop in Broward and nearby counties.  The Median Sales Price of an existing single family home in Broward was $302,800 in December 2004, a 26% increase from the previous year.  Email Andy and ask for the link to Huge Demand Behind Soaring Prices

Broward Single Family Average Price Tops $400,000
January 4, 2005, South Florida Sun-Sentinel reports that the average price of a single family home in Broward County (not a condo or townhouse) reached an astounding $402k in December 2004.  The number of homes over $1 million tripled while the supply of houses under $100k all but disappeared.  Average sale price of an existing Broward single family home in 2004 was $353,881, more than a 25 percent jump from an average of $281,251 in 2003.  Email Andy and ask for the link to Broward resales top $400k

Sticker Shock Sends Buyers to Condos
January 2, 2005 South Florida Sun-Sentinel reports Condos and townhouses more popular as buyers are priced out of owning a single- family house.  Multi-family housing is the wave of the future as buyers continue to outnumber sellers in South Florida, even though South Florida condo prices increased by as much as 24 percent from January 2003 to June 2004. This article provides details around this trend.  Email Andy and ask for the link to Sticker Shock

North End of Urban Core Targeted for Residences
December 22, 2004, South Florida Sun-Sentinel reported that in one meeting, the City Commission reviewed or approved 635 new downtown residential units. in addition to more than a dozen residential mid- and high-rises already under way downtown.  This is part of a master plan for a more dense population in a designated Community Redevelopment Area.  These will be hip projects with industrial flair in walking distance to downtown business and recreation venues. Email Andy and ask for North End of Urban Core Redevelopment

Broward Will Add 1 Million People by 2030.
December 5, 2004, Miami Herald reports that Broward County is preparing to overhaul its long-range growth-management plan because county's population is expected to swell by nearly 1 million people by 2030, and its stock of undeveloped land is expected to disappear by 2015.  For more information, Email Andy and ask for the link to Broward Population Growth Planning

Median home price in Fort Lauderdale now exceeds $300k
August 25, 2004, South Florida Sun-Sentinel article says that median price of a single family home in Fort Lauderdale hit $301,900 in July 2004, up 28% from July 2003.  For more information, Email Andy and ask for the link to Home Price Tops $300,000

Condos support county growth
July 28, 2004, South Florida Sun-Sentinel article points out that Broward County ranks 18th nationally in new home construction, with 32,600 more homes than a year earlier, much of that growth in condominium construction.  Still there is greater demand for new housing in Broward County than supply.   Email Andy and he'll send you a link to Condos Support County Growth 

New stars on the beach
June 27, 2004, South Florida Sun-Sentinel reports that The Atlantic condo hotel and other four star hotels will change the profile of Fort Lauderdale tourism after 20 years of effort.  
Email Andy and he'll send you a link to New Stars on the Beach 

Fort Lauderdale beach thriving
January 25, 2004, South Florida Sun-Sentinel
Article focuses on divergent views of what Fort Lauderdale's Beach is and what it should be, how much and what kind of New Construction should be allowed and how it will shape the future of the city and the beach. 
Email Andy and he'll send you a link to Fort Lauderdale Beach Thriving.

CITY PUTS BRAKES ON DEVELOPMENT ; 
SHIFT IN APPROACH SEEN AFTER ELECTION
March 19, 2003, South Florida Sun Sentinel
Shift toward slow-growth outlook at City Commission temporary halts building boom juiced by low interest rates and previously agreeable city officials.
Email Andy and he'll send you a link to City Puts Brakes On Development

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