Julie Jones' Blog

With the 2009 Fort Lauderdale Boat Show wrapping up another successful season, I thought my readers would enjoy a sail back in time to see how this tropical paradise lured the first of Fort Lauderdale’s luxury boaters, way back when.

In  1893, Frank Stranahan’s camp and ferry crossing on the New River caught the attention of the local newspaper,  the Tropical Sun.  Stranahan’s camp, then called the New River Station, was the focal point adjacent to the original fort where traders and nature hunters met.  The New River Station then consisted of sturdy tents and comfortable cabins which attracted the sporting crowd to the surrounding Everglades for fishing and hunting. (Today, Stranahan House stands as a historic site on the New River in the heart of the city.)

In 1896, Mr. C.B. Cory, a wealthy naturalist and sportsman, arrived with a refurbished Mississippi steamboat named the Wanderer.  The ship cost Mr. Cory $100,000, then a princely sum for a pleasure craft.  The Wanderer offered twelve bedrooms, a magnificent lounge, a piano, a recreation room and a gun room.  According to one observer, the 90-foot vessel, "at the time represented one of the finest privately owned boats in the country."

Mr. Cory moored the vessel along forty acres of property he purchased on the banks of the New River. Over time, Cory transferred ownership to his friend, a famous actor, Joe Jefferson.  Mr. Jefferson entertained society notables, such as Grover Cleveland, as well as a number of women guests who were frowned upon by the local residents.  The Wanderer enjoyed notoriety as the first “Party Boat” in Fort Lauderdale until the Hurricane of 1926 reduced it to timbers.

As we watch the mega-yachts from this weekend’s Boat Show glide through Port Everglades in all their sleek, nautical finery, keep in mind the hearty folks who appreciated Fort Lauderdale’s boating attractions in the “wild” days, when “wild” held an entirely different meaning!  

Happy sailing!

Mid-October has arrived and the season is underway in Fort Lauderdale.  I would like to share an update of my activities I presented to my Sellers from the frontline of Fort Lauderdale ’s luxury real estate market. 

 The Good

 ·  I have invested in two Internet-based marketing programs to promote my listings: Zillow and BlockShoppers.  Between these two sites, and the rest of my Internet networking, I am confident in reaching over 300,000 visitors (new faces, not return browsers) per month with my listings. 

·  I am proud to be a sponsor of the Go Red for Women, American Heart Association initiative.  I invite any lady in the Fort Lauderdale area who would like to become involved with this dynamic group, which is in association with the Cleveland Clinic, to please contact me.

 · A survey conducted by the National Association for Business Economics released results in the beginning of October which stated that most economists see recovery starting in the US, but they expect that the recovery will be slow as worries over unemployment and high federal debt continue to stop consumers from making big decisions (especially real estate).  This is compounded by the lack of mortgage options available to potential buyers.

· This week I have received three offers on my luxury inventory and one of the offers resulted in a contract for 320 Coral Way, Las Olas, which (subject to inspections) will close on November 18th.   I am confident that this activity points to movement and sales in the luxury real estate market. 

· In October four of my sellers decided to adjust their list prices.  This is a wise strategy as these listings will now be set to take advantage of the sales season and hopefully achieve results. 

· For those who qualify, there are some excellent mortgage rates available.  If you would like assistance, please contact Mason Pruner, Branch Manager of Wells Fargo, at 954-857-3502 for the latest rates and programs available.

· People are moving for happier reasons!  (Source: Relocation.com)  People have returned to moving in hopes of improving their lives rather than moving to escape foreclosure or  economic crisis.

The Bad

· Appraisal issues . . .  Just over the last week our office has experienced transactions falling apart because properties are not appraising for the contract prices.  It is very difficult for the appraisers because of the very limited number of sales in 2009.  If you are concerned about the list price of your residence for sale, I encourage an appraisal which is totally objective and extremely useful when a contract is being negotiated.  Imagine how frustrating it is for the seller when a result is finally obtained and you are planning to move – then come to find that your property will not appraise for the contract price.

The Ugly

 · I am pleased to report little ugliness for October (except for the low market activity and long market times).  The only possible exception is with the condominium market where in the entire Fort Lauderdale market, there has only been one sale in excess of $3M and only three sales between $2 -3M.  The condominium market is very challenged, and potential buyers are increasingly concerned about the financial stability of the communities in terms of maintenance fees in default and residences in foreclosure.

· The media is still quick to remind us that the banks have held back a vast number of foreclosures and short sales. Apparently they have been waiting for the market to improve and sales to increase.  These distressed sales will be released within the coming months and may be impacted by those sellers who have increased interest rates on their loans and can no longer make the payments.

If you have any questions or concerns about your property, please contact me.   It is my goal to achieve the best price and terms for the residences I represent and to see a result this selling season!

This summer, Forbes.com reported a list of what they found to be the top ten cities in the United States for housing recovery based on the findings defined by the US Office of Management and Budgets (OMB) and Zillow.com.  Forbes researched 161 metropolitan areas where sales had increased and foreclosures as a percentage of overall sales had been lowest.

I am happy to report that the Miami-Fort Lauderdale area ranked first in recovery.  The report cautions that these statistics do not mean the housing market is on the rebound, and mentions cities, such as Las Vegas, that continue to struggle.  This report shows that the ten cities cited are the most like to recover sooner.  To read more, visit: http://www.forbes.com/2009/08/13/recovery-cities-homes-lifestyle-real-estate-housing-recovery-cities_slide_1.html?thisSpeed=15000

Here are the top ten best cities for housing recovery:

1.     Miami-Ft. Lauderdale, FL

2.     Lincoln, NE

3.     Colorado Springs, CO

4.     Salem, OR

5.     San Luis Obispo, CA

6.     Bremerton, WA

7.     Denver, CO

8.     Redding, CA

9.     Santa Barbara, CA

10.  San Jose, CA

In a recent Gallup Poll reported by FloridaRealtor.com, economics is not the key driver in community attachment as many may believe.  This survey showed that of the three highest ranking draws to community attachment, the first priority was openness.

It is exciting to read that tolerance for population diversity commands the highest attraction to loving one’s community.  Cities and towns favorable to people all ages, income levels, cultural and racial differences and educational backgrounds earn the most loyalty.   

Second most important community-engaging requirement is social offerings.  Cities and towns offering downtown revitalizations, parks and pet-friendly areas, a vibrant nightlife, active cultural centers, civic activities and friendly neighborhoods form the major requirements for community constancy.  Regular community interaction cements a sense of ‘neighborhood’ with its inhabitants.

The third most important factor in community attachment is aesthetics.  A city/town’s physical setting and “green” attributes are more important for those surveyed than public safety or improved highways.  This encourages consideration of environmental factors and the use of “green” materials in urban design and new construction.

What please me most about reading this information, is that Fort Lauderdale offers each of these top three requirements to those choosing to live, work and play in this tropical paradise, which was one of the driving forces in my choice to live here.  Now, I am curious to know:  What attracts you to where you live?

South Florida tourism is taking a pro-active approach to attracting visitors to our tropical paradise.  Fort Lauderdale-Hollywood International airports, entertainment arenas and cruise lines have all taken steps to make the idea of vacationing here even sweeter.

A recent article in South Florida Business Journal cites that the leaders of Virgin America Airways had been eyeing South Florida as a destination, and chose to debut at Fort Lauderdale-Hollywood International Airport due to the city’s centralized location.  This same airport expects a 1-1.5 percent year-over-year increase in air passenger traffic for September, showing Fort Lauderdale’s strength as a destination city and the airline carriers’ faith in putting seats into this destination.  In addition, by ensuring lower operations costs, the airport attracts and keeps low-cost carriers such as JetBlue, Virgin, Spirit Airlines and Southwest Airlines.

Major events coming to South Florida, such as the Pro Bowl and the Super Bowl are also expected to enhance tourism here.   The former Dolphin Stadium renovated as Land Shark Stadium, now owned by Jimmy Buffet, has enhanced the area's attractiveness for entertaining and sports events.  To quote the stadium’s website: “Our mission is to be recognized both nationally and internationally as the premier sports and entertainment showplace in the Americas.”  For more information on the new stadium, visit: http://www.landsharkstadium.com/content/stadium.aspx.

Despite cruise lines experiencing a drop in passengers, deep discounts continue to keep cruise ships departing South Florida at capacity.  Fort Lauderdale based MSC Cruises (USA) has doubled North American passengers every year since 2003.  Royal Caribbean’s 5400 passenger ship, Oasis of the Seas, the largest cruise ship ever built, is expected in Port Everglades in November, clearly showing the cruise line’s confidence in South Florida.

Whether as a destination city for vacation, business or a planned relocation, Fort Lauderdale remains strong as the tropical site to live, work and play.

In my continuing quest for an education in living “Green”, I discovered an article written on Solar Energy and the positive rewards for taking that leap into energy change.  (I’m reminded of Sesame Street’s Kermit the Frog singing, “It ‘Aint Easy Being Green.)  Here’s an opportunity to change that myth.

Robert Alcock is the founder of GREEN Building Products.  His company is local and is fighting climate change through building efficiency products and renewable energy systems.  Robert believes the basic problem in the world of home energy productions systems is that most people don’t know much about them.

Robert insists you can’t compare the cost of a home-based solar energy system to your FPL (or local power) bill, because there is no comparison.  He likens the contrast to buying a car vs. a bus ticket.   Inquirers usually want to know the costs and payback for their investment.  He believes where a power bill is a liability, a solar power system is an asset.  Here are some facts:

A good-size solar energy system (typical for a 5KW system) is about $50K.  Payback is about 12 years. (Payback from an industrial power plant is decades.)

Also, look at the cost benefits of such a system, based on California--the US's most mature solar market:

1.    The state of Florida offers a renewable energy rebate of $4/watt.  This equals $20,000.

2.    The Federal government offers income tax credit of 30% of the system. (Approx. $15,000 based on type of accounting.)

3.    Value of your home/building increases by approximately 120% of the value of the system ($60,000).

So, basically, after the initial investment of $50,000, best case scenario for the effective cost of the solar system could be earning up to $45,000 back in rebates and tax credits---or worse case scenario, the cost of the system amounts to $15,000 with values and credits.

These numbers do not factor in savings on energy bills, reduced heat absorption to the roof, resale value of the home, and the priceless value to our environment.

So, check your roof space, think over your options and best of all, calculate your years of bills paid to your local power company and ask yourself, shall I continue to invest in my local power company, or shall I invest in my own home! 

Robert Alcock is available for further questions at ra@greenbuildingproductsfl.com or 954-270-1754.

Not only is Fort Lauderdale proving to be a hot Honeymoon destination with exotic, luxury hotels like the W offering a complimentary 3rd night’s stay for free, this Venice of America is attracting tons of attention from West Coast jet-setters.

Beginning this Fall, JetBlue Airways is offering a “Trade the Bay for the Beach” campaign by adding a long-requested, non-stop service between San Francisco and Fort Lauderdale, starting November 17th.   Fall, of course, begins the “Season” for our tropical paradise.    So, who wouldn’t want to be here? 

JetBlue’s service from San Francisco compliments their non-stop Los Angeles to Fort Lauderdale service since 2003.   Overnight flights from West Coast cities to Fort Lauderdale feature  JetBlue’s complimentary “Shut-Eye Service” with a snooze kit containing earplugs and eyeshades and a “good morning” hot towel.  In addition to free snacks and beverages, Dunkin’ Donuts coffee, fruit juice and bottled spring water will be offered to refresh guests before landing.  It is clear JetBlue takes traveling to Fort Lauderdale seriously!

JetBlue is not the only airline invested in Fort Lauderdale.  Virgin America and the Broward Country Aviation Department also announced a new partnership at Fort Lauderdale-Hollywood International Airport.  Virgin America and Fort Lauderdale see this connection as an excellent corridor for tourism and job growth.  This attention from the West Coast, once again, emphasizes the continuing enthusiasm for repeat travel to Fort Lauderdale.  

Who knows?  Perhaps, the next step will be that travelers from the West Coast will see the wisdom in owning a luxury waterfront property in our fabulous city.  The value-to-dollar ratio certainly makes the prospect appealing.  I certainly am available to answer any question on that possibility!

Welcome to Fort Lauderdale--beautiful, cosmopolitan and easily accessible from so many key places.