Andy Weiser Fort Lauderdale Realtor Blog

Pier 66 Proposal Offers Homes, Retail, Restaurants and Office Space

A proposal for a project to rehab the Pier Sixty-Six Hotel and Marina could add quite a lot to the 32 acre location. The site, well known for its revolving rooftop restaurant, could see a mix of 100 new homes in the way of condominiums, villas and single-family homes along with shops and restaurants.

“We want to bring some life and some energy to the marina and celebrate Fort Lauderdale as the yachting capital of the world,” said Jessi Blakley, spokeswoman for the developer, Tavistock Development Co.

The actual breakdown includes the following:

Villas

Four, 4-story buildings with 39 villas.

Condos

Two towers with 11 stories that contain 38 units each. Each tower will feature office space as well as commercial units that will be used for both retail and restaurants on the first and second floors.

Single-family homes

Twelve, 4-story houses that would be approximately 5,000 square feet each and boast private yards.

Aside from the plans for additional development, the proposed plan includes renovating the hotel rooms. The hotel now has 384 rooms with 154 in a 17-story tower and 230 in a 2-story building. The rooms located in the tower have yet to re-open since Hurricane Irma last year. These plans include decreasing the number of hotel rooms to 345 with combining some units for larger layouts and replacing the 2-story dwelling with a 10-story tower.

Desirable amenities for the hotel would include two layers of pool decks with one for adults and one designed for children. Additionally, there would be approximately 17,000 square feet of fitness and spa facilities.

Tavistock Development Co. had purchased the parcel back in 2016, but any plans for development were halted due to Hurricane Irma which caused damage to the property. Should these plans get approved then construction would be slated to begin by the end of 2019. Blakely states that the addition of the shops, restaurants and residences would “really play up the waterfront activity.”

 

 

Quiet Hurricane Season Yields More Fort Lauderdale Home Sales

Thanks to Mother Nature, the 2018 hurricane season here in South Florida was a relatively quiet one. The stresses of arduous preparation and painstaking recovery were dodged this year unlike what we all experienced last year with Irma. As a result, the real estate market has shown a much more robust increase in sales this fall. While it makes sense that an uninterrupted season would be better, it is great to see an overall continued strength in the market.

Broward County has seen single family home sales increase by 18.5% while median sale prices decreased by a small 2.1% according to Realtors of Palm Beaches and Greater Fort Lauderdale. Listings available for sale have increased in numbers but only to a supply of 4.3 months which is still considered a seller’s market.

Condos in Broward saw an increase in sales of 8.8% that came with an increase in sale price by 5.8%. The number of listings available for sale only increased by 1% where it is around 5.5 months. This is still deemed a sellers market being under 6 months.

“Median time to contract remains below 40 days, and this number may drop in the coming months,” said Ron Lennen, president of Realtors of the Palm Beaches and Greater Fort Lauderdale. “With the volatility of the stock market, consumers could choose to invest in real estate and look to close quickly to lock in lower interest rates.”

On the mortgage front, interest rates are inching upwards which is making mortgages more expensive for those who need financing. According to Freddie Mac, the interest rate for a 30 year fixed mortgage is now at 4.63% which is up from 3.81% from a year ago.

All of that being said, these statistics show that the market is still robust with positive activity. If you are looking to buy or sell in the near future, please contact me.

 

4 Tips For The First Year in Your New Fort Lauderdale Home

When you settle into your new Fort Lauderdale home, it can be both exciting as well as stressful at times. Once you have taken ownership and officially moved in your belongings it can take a little time to get to know your home while you are getting settled. While you can certainly expect to have many good times you should also prepare for the unexpected.

No home is ever truly perfect and where every home has many parts to it something is going to inevitably break or need repair. It can be as simple as a sprinkler head or more significant such as a component in your HVAC system. Keeping this in mind, here are a few key things to do as you get prepared.

Save money – Once you own a house it doesn’t mean that you shouldn’t still follow to the rule of thumb of reserving 6 months of income in your bank account. Calculate your monthly costs with the new home so that you stay on track with the appropriate saving.

Get familiar with the home – Take some time to locate where all of the systems and shut offs are and how things generally operate. For example, see where the main water shut off is so that you know where to go if there is ever an unexpected leak. Does the home have a security system? See how it operates with all necessary codes, where the sensors are and who it may notify if it is tripped. Keep your home’s survey handy as well so you can see where all property lines are located should you do any outdoor work in the near future.

Find a good repairman – Unless you are already really handy, finding a good repairman is a smart thing to do. Having someone you know that you can contact if you have a broken door, a ceiling fan that needs to be installed or any other general repairs or improvements is very helpful. You can even use this as a great way to meet the neighbors and ask them for recommendations. Their contacts will already be most likely familiar with the area as well.

Warranties – See if any of the major appliances and systems in the home are covered by a warranty. If not, you may consider investing in a home warranty that covers major components of the home like the HVAC system, plumbing and electrical. Some home warranty policies will also cover major appliances like washers, dryers and dishwashers.

In the end there is no way to know what or when anything may happen, but being prepared as best as you can is a great place to start.

Are you looking for a new Fort Lauderdale home? Contact me today and let me help.

 

7 Signs That a Home Will Have a Good Resale Value

It may seem like a funny idea to think about selling a home before you have even purchased it, but it is key to bear in mind that a home is an investment so you will want to give this some thought. While you need to make things rank of high importance that you absolutely need in a home, you should still consider the area and how it will appeal to future buyers as well. The general economy and how it will fair when the time comes for you to sell is anyone’s guess, but there are some signs that you can pay attention to on a micro level. Here are some tips to consider:

Neighborhood Amenities

Take into consideration the area amenities. Are essential things like grocery stores, gyms, dry cleaners and the like nearby? You may hear of things that are to come for development, but always bank on what is there now as plans can always change.

The Actual Street

While you will want to close to area amenities with ease, you may not want to select a home on a busy street. While you and the current buyer may enjoy living on a hopping street, not every future buyer will enjoy this where your pool may be smaller.

Home Systems

You may forecast in your mind that an area is a good investment that is on the rise, but more thought needs to go into this equation. Consider the actual house in question. How are the systems like AC and electrical? Are there new windows and are they high impact? While the area could increase in value, you still may not be ahead of the game if there are significant improvements that are needed.

Schools

You may not consider this if you are child-free, but depending on the type of home you buy the next buyer may have kids so school systems are important.

Light

It is not an accident that when referring to a home as bright, “cheery” also tends to be a following adjective. Homes that get great natural light provides a good, positive feeling and are often more sought after. Visit the home at different times if possible to see how the light affects the space.

Floor Plan

While some homes can offer drama with their finishes and style, always consider the layout. Is it functional or even family-friendly? Give some thought to who other potential buyers may be and ask yourself if you think the home could work for them. Is there more than one bathroom? Is there at least one bathtub? Is the kitchen an open concept? These are all valid questions.

Community Restrictions

While there are many good things that a Homeowners Association can take care of and monitor, you will want to be sure it is not too restrictive. If the bylaws are reasonable, then having an HOA can actually be a good thing. They can keep things well maintained and prevent your neighbors from doing things that could influence your home’s value negatively.

 

Exciting Potential Recreational Options for Fort Lauderdale

Fort Lauderdale has always had its beaches being among its main attractions for both visitors and residents. Now with the city growing in popularity, new exciting amenities are on the horizon and currently being discussed. Earlier this year the plans for a major water park fell apart, but the parcel of 65 acres is still available.

“It is the last large piece of city-owned property that we can look to do something on,” City Manager Lee Feldman said.

Commissioners are considering a potential War Memorial Auditorium in Holiday Park. A concert venue, indoor soccer hub and ice rink are all options that are currently being pitched. According to a recent survey conducted for city residents, the general sentiment was that there is a need for more activities made available especially for those with children.

The city has agreed to revisit the idea of an aerial rope adventure course to be added at Snyder Park. Plans were also confirmed to grant the YMCA permission to proceed with a new $10 million center for youth.

The area that was originally slated for the water park is quite a large parcel and big enough to accommodate things like an amusement park, aviation charter school, golf driving range or similar. It was even considered as a site for a new police station yet that was not well received. Interest was expressed in the idea of an aviation charter school, however.

The old Lockhart Stadium that is there is awaiting demolition, but city commissioners would like to explore options and ideas including a possible restoration of the stadium. As part of the ideas they city has looked at either leasing out the entire space to include things like an amusement park, location for concerts or events or potentially split up the parcel and use a portion for aviation-related things and another portion for entertainment. With its great location combined with land scarcity in the area, there is a lot of demand for a parcel like this.

Over at Holiday Park, commissioners have stated that they no longer want to host a commercial gun show there. Other potential options include ice rinks, live music and soccer. “I’ve always felt it was an underused facility,” Mayor Dean Trantalis said.

The Florida Panthers hockey team has expressed interest for youth ice skating, a live music promoter has also stated the flat-floor venue would be ideal for concerts. And finally, the Florida Crushers, a soccer organization has also shown interest in calling the auditorium home and would co-exist with the ice rinks.

What’s Hot for 2019 Kitchen Designs

According to HomeAdvisor’s Smart Home Strategist, homeowners had focused renovation efforts on bathrooms in 2018, but for next year they are moving their attention on to kitchens. The goal is to add value to the home while creating an environment to promote wellness and reduce stress.

According to Home Advisor’s Home Expert, Dan DiClerico, “Wellness is going to be a huge theme for 2019. Many people are living longer, healthier lives, and they’re looking to the kitchen to support those efforts.”

DiClerico says that homeowners are going to primarily achieve this goal by doing a few things. They will purchase appliances to make life easier for cooking healthy like blenders and steam cookers. They will also make physical changes by adding either large windows or glass sliding doors to bring the outdoors inside. Finally, earthy tones including blues and greens will be used to provide a sense of calm.

Are you looking to work some of these ideas into your home? Here are some more details on the emerging trends.

Appliances – In 2019 we will see more popularity for appliances that lend themselves to healthy eating. People are using steam cookers to avoid using butter and oils as they reduce their fat and calorie intake. Blenders have also become more sought after with the ease of making smoothies and soups. Manufacturers are already ahead of this curve by introducing more appliances in their line to cater to these needs.

Sliding Glass – For many years there has been a focus on kitchens open to living areas, but a shift is being seen with kitchens open to the outdoors. Adding glass doors that lead to outdoor space will extend your living space while adding more natural light to your interior.

Column Refrigerators – Column refrigerators have been gaining popularity where you can pair any size refrigerator with any size freezer column. This allows homeowners to maximize their food storage based on their individual needs.

Calming Colors – DiClerico has shared that although white kitchens are not a thing of the past, blues and greens are slowly gaining popularity. Cabinetry has been seen in these colors and manufacturers of appliances are also introducing these colors into their lines as well.

Technology – Popular technology includes things that are voice activated. For example controlling your blinds or your lights with voice activation makes creating a comfortable mood extremely easy to achieve. The right light creates a calming atmosphere and can also make your food look more appetizing.

What not to do – While they are not gone yet, marble, granite and stainless steel are losing their edge in popularity. Homeowners are now introducing quartz and black stainless steel which are easier to keep clean and maintain.