To be more specific and accurate with the answer to your question I want to bring you some facts in numbers that definetely shows the results you need to see. First of all I want you to click on the link below to have access of the condos information that are available currently for sale in the Watergarden condominium in Fort Lauderdale.
(copy and paste the link above into your Internet browser, please)
For a total of 508 units in the building there are only 8 for sale at this time, so you can feel the taste of the inventory shrinkage. Noner of the 8 units are short sales nor foreclosures, which somehow determines the stability of the market in that building itself.
Just to give you an example, there is a unit in the Watergarden, the less expensive in price currently asking $278,000, a 2/2. That unit in 2009 had a percent change in value of -13.32% compared with the year before, then in 2010, the percent change was also negative but decreased to -4.82% compared to the value of 2009, and in 2011 the percent change went to 0.44% which is an indicator that properties values for that building are going up slightly.
If you are thinking to purchase a property in the Watergarden is just about the right momentum to secure a good price by putting an offer because the variable "X" is ascending on the the sinusoid curve of the mathematical function that defines the interpretation of the concept in question.
Call me if you really want to use my services for an offer contract and discuss all the terms regarding.
Very truly yours,
Prudential Florida Realty
You know what they say about "supply and demand". 2011 was the final depletion of most of the bad inventory a.k.a. cheap supply surplus (short-sales and foreclosures) combined with a progressive general national economy recovery brought our real estate inventory down to about 34% compared to same time last year (according to a yesterday's the Sun-Sentinel article). Since summer of 2011 there has been a strong demand to buy in SE Florida, hence, lots of sales that consequently forced prices to go up.
Another way to gauge that is by going to the Broward County Property Records site and study "sold prices" in the past two years and you will see that prices have bottomed out in mid 2010 and began to go up slightly in mid 2011 and continueto go up; but for how long? That no one knows. Though, all experts who monitor real estate nuances nearly all agree that prices will not rocket up insanely like what we've experienced from 2002 to 2006.
Right now is the perfect time to buy anything and anywhere in SE FL.
Â° Inventory of homes for sale shrinks
Â° Home/condo prices start to rise
Â° Often multiple and full price offers begin to appear
Â° Distress property inventory shrinks
Â° Buyer activity increases
Our market is happily experiencing ALL of these factors. Example, this week our team has just closed a full price offer that also had a back up offer, we received 3 offers on 3 different units in a condo building at or above the asking price, two of the units had multiple offers. Prices in Miami are up as much as 37% or more, in Broward County prices are up in some of the condo buildings by as much as 10%.
Helping our markets are also historically low interest rates, an improving economy and employment. Barring any world catastrophes, I believe we have entered an appreciating market.
Eileen Kedersha, International Estate Agent
One Sotheby's International Realty
Per you inquiry on Trulia:
Call me "Lynne" at (954) 647-5335 Cellular, or email me the Best Phone Number and Time to call you to chat.
Lynne Knapp, RealtorÂ®
ReMax Consultants Realty 1
1625 SE 17th Street Causeway
Fort Lauderdale, FL, 33316
(954) 647-5335 Cellular