Beach Club Hallandale

Kelly
Home Buyer
Fort Lauderdale, FL

There seem to be an awful lot of units for sale in the Beach Club in Hallandale. Should this cause concern? Should I be worried about foreclosures, owners unable to pay HOA, etc?? Can anyone explain why the whole building seems to be for sale? Thanks! Kelly

Answers (2)
Beachclub
Broker
Hallandale Beach, FL

Hi Kelly,
Great questions. Probably you already purchase in the Beach Club but if not here goes... The best thing to do is to check with the Condo association managers regarding the deliquency rate in the building and the financials of the buildings - there are no secrets, this is available for the asking. The last time I checked, the rate was much below the market average of 30%.

As Nicole mentioned, there are always some growing pains as a building matures and the transition from the preconstruction investors/speculators to the end users takes place, especially in a market like we have had over the last couple years. The fact is that the Beach Club has the highest sales volume on the beach in South Florida, with over 100 sales in the prior 12 months, the most of which were in the last 6 months.

To answer your question directly, the Beach Club actually has a low percentage of units for sale - only 15%, you have to remember that there are a total of 1254 units altogether so the 190 units for sale is not so much.

If you would like more information about the sales in the building, please take a look at http://www.beachclubcondoshallandale.com/hallandale/market.htm

The only thing I don't agree with Nicole on is that the Beach Club offer the absolute best value on the beach in South Florida not just in the Hallandale/Hollywood area.

It also offers the lifestyle that we all look for... with resort services; valet, concierge, spa treatments, poolside cafe (which delivers to your unit), pool & beach attendants, fitness classes and resort amenties; several infinite-edge pools, redwood saunas, several outdoor & indoor jacuzzis, spinning, yoga & pilates rooms, a 50,000 square foot fitness center overlooking the ocean, why would anyone not want to live there?

I hope this helps. If you have further questions, please don't hesitate to ask. - A few minutes ago

Sat Aug 22 2009, 22:40
Nicola Riettie
Agent
Weston, FL
FIRST ANSWER

Hi Kelly!

Based on the period when Beach Club was completed, the majority of the Buyers were asked to close right when the market shift started. Although its a beautiful project, many buyers were speculators and were afraid or unable to close...

As with many condos throughout the region, the number of foreclosures in the 3 towers combined with the shortage in HOA fees are definite factors you should consider in looking at buying at The Beach Club.

Some banks may not offer financing in the three towers as a result of the delinquency ratio...

However, if you have the option and ability to buy there cash for a GREAT DEAL, its one of (if not THE) best projects on the Hallandale-Hollywood Beach strip, due to the very newness of the towers, the superb amenities and premium views and location - so ideally central to the Broward-Dade county line!

If you would like further info or insight into the Beach Club, please feel free to contact us - The Riettie Group at 954.297.6864 or by email at nriettie@riettiegroup.com.

Thu May 21 2009, 20:00

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