Ree Abbott

Hi Stephen:

Unfortunately, the only place in this area (east Fort Lauderdale) that you do not have to worry about height restrictions is in Lauderdale By The Sea. They have a strictly enforced zoning limit of no more than 4 stories high, which is part of what gives it it's charm and small town feeling.

I sure hope that the beach does not become like South Beach, Miami (New York City with palm trees). Many of my clients coming from elsewhere do not want to be in a highrise, and Lauderdale By The Sea is the only area around here that offers them this option.

Good luck with this, and be careful not to buy where something else can go up in front of you, because if it can happen, unfortunately, it probably eventually will.

By the way, as you know, this is a co-op. Are you aware of all of the restrictions that go with a co-op? For example, in almost all co-ops, you can never rent it out, you can only have very immediate family visit for a select amount of time, you almost always have to pay all cash, and you basically own shares in a corporation versus a condo, where you own everything from the walls inward/ contained within the walls. As such, no real property is owned by the individuals in a co-op, only shares in the corporation allocated to particular apartments. They are also more difficult to resell. I know that co-ops are more popular with people from New York, but you need to make sure that you are fully aware of all of the restrictions of a co-op so that you are not stuck or suprised somewhere down the line.

Best wishes, Stephen,

Ree Abbott
buyinflorida@bellsouth.net
http://www.buyinsouthflorida.com - Fri Nov 14 2008, 21:57

Hi Genevieve:

I am a waterfront expert (and longtime beach resident) here in Fort Lauderdale. Are your friends looking for a condo? If so, there are a few really nice waterfront/beach options available for them.

There is an area called the Galt Ocean Mile here in Fort Lauderdale, which is a mile of highrise condos that are sitting right on the sand. There are 22 buildings on the Galt for them to choose from. This is where I live myself, so I am very familiar with the Galt. When I am helping my clients, I need to know their price range, how many bedrooms & baths, what type of view they want, and what amenities they want before I would know which buildings I would take them to, since all of the buildings literally offer different things. Some buildings have underground parking, not all buildings have washer & dryers in the unit, some pool are heated, some are pet friendly, some allow rentals, etc. What makes the Galt nice is that is within walking distance to shops, restaurants, a CVS and a post office.

Another option is about 2 miles north up the road on the beach in a complex called The Sea Ranch Club. The Sea Ranch Club consists of 3 buildings that sit on 10 acres of beautifully tropically landscaped grounds, with many tennis courts, 3 pools, barbeque and picnic facilities, and a nice, wide beach. It has a very resort like feeling to it. Right across the street is the Sea Ranch Plaza which has a Publix supermarket, CVS, Dunkin Donuts, and many shops and restaurants. You can live here and never need your car.

Both the Sea Ranch Club and the Galt Ocean Mile are withing walking distance of Lauderdale By The Sea, which is a lovely, small beach town with many more shops, restaurants and good nightlife. It has been called "The Prettiest Little Small Town in America". You truly feel as if you are in a casual little beach town.

Both areas are about 6 miles from the Fort Lauderdale/Holywood International airport, Port Everglades, and downtown Fort Lauderdale/Las Olas area. Also, both areas are located about a half an hour from West Palm Beach to the north, and Miami Beach to the South, as well as about 6 miles to I-95 and I-595. Both of these areas are truly very central and convenient locations.

If they are looking for a house, there is an area called Fort Lauderdale Beach, which is literally a block to the south of Galt Ocean Drive. There are waterfront homes here, many right on the beach. There are currently only 10 for sale, and they range from $1.6 million to almost $9 million.

Even in these slower real estate times, east Fort Lauderdale / waterfront beach homes and condos continue to hold their values better than anywhere else, as there are only so many of them available, and water properties will always be in demand..

All of my buyers coming from some where else want either beach front or intracoastal waterway vacation homes/condos. They want to be able to step right out onto the sand in minutes, or to be able to step right into their boats in minutes. When they are here on vacation, they want it all to be easy. And for resale, or if they want to rent these properties, waterfront/waterway condos and houses are always what people want.

If yo want to get an idea of what these 2 of these 3 areas look like, go to my website, http://www.buyinsouthflorida.com. Look for the link in the top sand colored box to "Galt Ocean Mile". There is also a link in the same place for "Lauderdale By The Sea". The link for "Sea Ranch Club" is not yet ready, it is a work in progress.

Needless to say, if you are looking for an agent to take very good care of your friends, I would love it if you would consider me. I love referrals, and I love paying referrals to other agents.

Good luck, Genevieve,

Ree Abbott
(954) 465-7464
buyinflorida@bellsouth.net http://www.buyinsouthflorida.com - Fri Nov 14 2008, 21:32

Hi Eric:

Yes. Absolutely. I am ready whenever you are.

Call or e-mail me anytime.

Best wishes,

Ree Abbott, Realtor
Cell: (954) 465-7464
buyinflorida@bellsouth.net http://www.buyinsouthflorida.com - Sat Jul 26 2008, 11:25

Hi Dee:

I hate to say this, as I am a realtor, but unfortunately, realtors do not make a lot of money off of rentals, so they are typically not motivated to go the extra mile when doing a rental. However, you do need an agent for a rental listing, as it is really a shot in the dark trying to rent it yourself. You just do not have the visibility and exposure that you have when you list it in the Multiple Listing System.

That said, I would find an agent who is local, in your area, and when you do hire that agent, make sure that they post the maximum amount of photos (16) in the Multiple Listing System (MLS). It is really awful how may rental listings do not have any photos, not a single one. I do a lot of rentals on the east side of Fort Lauderdale, and I won't even show a rental (or a property listed for sale, for that matter), if there are no photos to show me what condition the unit is in. Even if the unit is not updated, having no photos posted will have agents imagining the worst about the condition of the unit, so always have both interior and exterior photos. Ask your agent to send you the link in the MLS when the condo is listed, so that you can see the photos.

The agent will bring you comparables of what is for rent and what has rented that is comparable, or similar to your unit, to help you set the rental price. I don't know what the rental amount is for your area, but if that amount is $700.00 per month, and you list it at $850.00 per month, your unit will never even get shown. When you say that you "cannot afford to ask below $750 for this unit", again, if the comparables show that anything over $650.00 per month for a unit like yours is too much, then it will most likely not rent at $750.00. Not to sound heartless, but getting $695.00 per month is better than getting nothing per month, so you need to be honest and realistic about your price. Every month that your unit sits empty has you carrying the cost, so be realistic and get it rented. I am not telling you to give it away, but be fair with the price. After all, it is not anyone's fault or problem if you "cannot get below $750.00" and the unit should rent for $650.00: the market will bear what the market will bear.

You can expect an agent to receive a months rent for their service. So if the unit rents out for $700.00, your listing agent and the renters agent who brings the tenant will equally split the $700.00. That brings it to $350.00 per agent side. The broker will take half of that, so now you are down to $175.00 per side. After taxes, gas,, etc., an agent makes almost nothing for a rental, so you can sort of understand why rentals are not an agents top priority. That does not make it right, but it is what it is.

I have found Craigs List to be fantastic for rentals. If your agent does not so this, then you should do it. Get it online to as many sites as possible. Google free rental sites, and a bunch should come up for you to try. Exposure is the name of the game.

Make sure that your condo is immaculate, fix anything that needs to be repaired or repainted, and make it appealing for who ever comes to look at it.

Hope that this helped a litle bit, good luck, Dee. - Mon Jul 21 2008, 18:47