Should I buy a condo in Fort Lauderdale now or ever? I just read that a lot of people are fleeing South

Asked by Ron Cielinski, Toronto, OH Thu May 1, 2008

Florida and many of the expected baby boomer retirees are going elsewhere?

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Tobias Kaiser, Cips’ answer
Tobias Kaiser…, Agent, Fort Lauderdale, FL
Thu May 1, 2008
That depends. It depends on what your are looking for. If you want to flip (it doesn’t sound like it though, then a clear No is the answer. If you look for a place for yourself as a medium-to-long-term investment - min. three to five years I would suggest - then the answer is a clear Yes.

The Fort Lauderdale area has a surplus of inventory (over 300% of what we should have), which makes it a buyers market. Buy the very best location you can afford: once you buy, you cannot change the view or the distance to the beach, but you can always throw out that yellow shag-carpeting and the avocado-green kitchen. And then you created your own personal gem with ocean view that will delight you everytime you come down here.

Please do let me know if you have more questions - I’d be happy to assist you,

Tobias Kaiser, MS, CIPS
Greater Fort Lauderdale Real Estate Broker + Consultant
Certified International Property Specialist
1 vote
Angela Schra…, Agent, Pembroke Pines, FL
Fri May 2, 2008
Hi Ron! I have clients from both Canada and Europe who have been thinking about buying for quite a few years and they have all decided this is the time! If you've been considering it, rather than be put off by the state of the market right now, you should be encouraged! This surely is the opportunity you've been waiting for. South Florida, and in my mind, Fort Lauderdale in particular, is such a super place to be - our weather, beaches, restaurants, shopping and entertainment is second to none. There are few places where all these attractions are combined in one place. We're just a few hours from the theme parks in Orlando, but we've beaches and much better weather and a few hours to the keys in the South.

My clients have been thrilled with what they were able to buy for their $$s. They didn't dream they could get ocean and intracoastal views on the 18th floor too!!! Once couple from the UK were so happy, that after 5 years together, they decided to finally get married. Wedding too will be in Fort Lauderdale at the end of the year and they've asked me to officiate!!! I am a notary public so I can officiate at weddings.... yet another chapter in the things I get to do as a Realtor! Isn't that great?

Back to your question - the one thing to remember, you the Buyer sets the price. When we work with clients we research each listing very carefully, taking into account how long it has been on the market, how much the seller paid, how much they owe on their mortgage and what their situation is... makes a big difference when you know this and what psychology to use. Luckily my broker is my husband, who happens to have a PhD in Psychology and a Law degree - the negotiation part is something we're very good at!!

There are people moving to Georgia and the Carolinas because they think they're getting a better tax break - actually when you take into account the fact that Florida has NO income tax, hence a slightly higher property tax (which is currently under review by our legislature) I believe that we in Florida still pay less taxes overall.

My only caveat to all this is to be careful with the Miami area - there is SUCH a high inventory of condos there right now that it will take many years to recoup your money or see any return at all on your investment. Fort Lauderdale is in a much healthier state than Miami and as long as you intend to hold on to your condo for a few years, which I am presuming you do, you should be just fine! I'm writing this at 11pm at night and it's 74 degrees outside!!

If I can do anything to help, please don't hesitate to contact me.

Good luck to you,

Villa G Realty 954-816-7996
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0 votes
Evelina Tsig…, Agent, Sunny Isles Beach, FL
Sun May 25, 2008
Oh my, Ron! So many good deals now! If you buy now, I am sure you would get a good deal. Most of our Canadian Buyers buy in Sunny Isles Beach and Hallandale Beach areas. Great location, walk to the beach, most of the condos we have are furnished, turnkey! Contact us and we can help you find your tuture home in South Florida. Evelina Tsigelnitskaya Real Estate Broker Sunny Isles Beach SIB Realty 305-931-6931
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Robin Sing-C…, , Fort Lauderdale, FL
Sat May 24, 2008
Ron I work with many Canadian clients who have moved here and many who return annually to vacation here.

Should you buy here? That answer depends upon a number of varaiables. Not the least of which is what you are looking for in your relocation. If a great and active lifestyle, being near one of the best beaches in the world, great entertainment and dining, etc..are important to you then by all means.

I am sure the financial aspect of your relocation is important as well.

From a financial viewpoint there are over 18,000 condos on the market here in South florida with many of those being in fort Lauderdale. These units range from as little as $80,000 up to over $5 Million.

Some are most assuredly retaining their value, others are falling. Any purchase, single family or otherwise, should be looked at with great scrutiny in this market and I urge you to obtain a regression analysis on any prospective home you look at.

Should you buy in Fort Lauderdale? Only you can answer that question, but I can help you obtain as much pertinent information as you may need to make your decision.

Good Luck with your search and feel free to contact me if you have any questions.
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Todd Chang, , Fort Lauderdale, FL
Fri May 23, 2008
Unless you are getting a short sale condo the market here has tanked. Unfortunately I am going to tell you how it is with no sugar coating. I would buy a Single Family down here at least it will hold its value, I would not be suprised if the condos go down another 30% here. The condo market is going to take years to bounce back. Plus they are still building like crazy down here. Sunrise and US1 there are huge amounts of condos going in. If you are looking for foreign national financing I am your guy.
0 votes
Mark Palace, Agent, Satellite Beach, FL
Sat May 17, 2008
Hi I have created this link
for you so that you will be able to view specific information on some great deals in south-central Florida, where you pay about half the price for the same type of real property as you would in Ft. Lauderdale. Do you want to enjoy the same tropical, warm, sunny and lovely weather as in Ft. Lauderdale and pay half as much money? Take a look at this link too in order to find out more about our area Let us know if we can help you.

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Palace Properties International, Inc.

About Us
Our mission is to provide the best service possible to our customers and clients and to be ever mindful of your needs. We achieve true success only by placing you first.
Palace Properties International is a member of the Chamber of Commerce, Melbourne Area Association of Realtors, Florida Association of Realtors, National Association of Realtors, World Properties, Home Builders and Contractors Association of Brevard (HBCA), Florida Home Builders Association (FHBA) as well as the National Association of Home Builders (NAHB).
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Company history
With a rich and diverse international background, the staff at Palace Properties International speaks nine languages, has lived and traveled in over 20 countries and possess multiple advanced postgraduate academic university degrees. Kelly and Mark Palace own the firm along with several other thriving businesses in central Florida.

Local Area Information
Come visit one of America's best kept secrets and you will truly fall in love with our subtropical paradise!

Just 35 miles east of Orlando, Brevard County prides itself as the home of Kennedy Space Center, the only facility in the world that launches the Space Shuttle; Port Canaveral, the second-busiest cruise port in the world; 72 miles of beautiful Atlantic Ocean beaches; and the largest collection of endangered wildlife and plants in the continental United States. With its tropical weather, cultural activities, educational opportunities, active and passive recreation options, high-technology industries, and family-friendly atmosphere, the Space Coast offers an exceptional quality of life that residents and visitors enjoy year-round. Nearly 500,000 people call its 15 municipalities and unincorporated areas "home."

Tucked in among the other beach communities of Brevard County, Indian Harbour Beach sits on two square miles of land between the Atlantic to the east and the still waters of the Indian River Lagoon to the west. Beachfront parks are a great place for a picnic (most have running water to wash off the sand before you replace your flip-flops) and Gleason Park offers 27 acres surrounding a beautiful lake, with exercise trails, lit by Victorian lights in the early evening. Tennis is available on city courts and baseball and soccer fields are available at the city’s million-dollar sports complex.

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I met Mark Palace at the Curves Vibrant Womens Conference and decided to have Palace Properties help me find a place to rent or buy. He had a place within an hour and I could see it that evening after work. Mark works hard for his clients and always kept in contact with me by e-mails and phone calls when I needed to talk to him. Never had to wait long for a call back. He is very professional, courteous and respectful. There are some realtors out there that should take lessons from Mark Palace, Palace Properties.
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0 votes
Cathy Sloan, Agent, Jacksonville, FL
Sat May 17, 2008

I read several of your past questions. I think this link may help you find the answers to many of your questions

The Canadian Snowbird Association has answers to US home ownership questions that affect Canadians.

Cathy Sloan
RE/MAX Specialists
Jacksonville, Florida
Web Reference:
0 votes
Cathy Sloan, Agent, Jacksonville, FL
Sat May 17, 2008
Consider Jacksonville in North Florida.

Many of the Central to South Florida boomers who do not want to leave Florida are moving to Jacksonville and Northeast Florida. The NOAA reports that Jacksonville has less than 1% chance of getting a Hurricane. Homeowner insurance is much lower and Automobile insurance rates are also lower than other areas.

Property values during the Real Estate boom did not escalate as rapidly as Central and South Florida, therefore the correction has not been as drastic in the Norht Florida area. Jacksonville still offers good housing value for the dollar. The average citizen in Jacksonville is 34 years old. Our Job market is strong and the future of the area looks positive. Our Seaport has signed two contracts with foreign shipping companies that will begin to have a positive economic impact to the area beginning this summer and will increase the cargo in and out of the area four fold.

Come to Jacksonville for a Visit. Our city is surrounded by water as we are bordered by the Atlantic Ocean and the St. Johns River and the Intracoastal Waterway. Jacksonville is less than 30 minutes from Amelia Island & St. Augustine, We are a two hour drive from all the Fun in Orlando. We have an International Airport. and a Cruise Ship terminal. We have been described as a very friendly city. Our population is diverse and the weather is great.

We would love to welcome you to our city.

Cathy Sloan
RE/MAX Specialsits
Jacksonville, Florida
Web Reference:
0 votes
Victory Prop…, Agent, Raleigh, NC
Sat May 17, 2008
I agree with Bill, Florida has massive appeal. My biggest problem with Florida is hurricanes, just get a great policy. I think Florida presents some of the best opportunity in America because some areas are seriously depressed for sales, but not rentals. Furthermore, if you become an expert on vacation rentals, you can make a fortune in FL real estate. I would focus on preforeclosures.
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Bill Eckler, Agent, Venice, FL
Sat May 17, 2008
Possibly a visit to south Florida will clear up the confused notion that Florida is no longer a choice destination. "Au contrare" ........ Yes, people are looking at other options but we are still getting our share of new comers.
Here's an important point......Prior to this year approximately 18% of Florida buyers were of foreign customers. When this year's information becomes available this percentage is most likely going to double....not because people have given up on Florida but because its appeal will not waiver AND there is value and opportunity in purchasing a home in Florida now!

Reminder....don't believe everything you hear.
0 votes
Steve Sapien…, Home Buyer, Pompano Beach, FL
Fri May 16, 2008
Why do I get the feeling that a Buyer is more important than a Seller here? HMMMM
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Andrea Harri…, Agent, Fort Lauderdale, FL
Thu May 1, 2008
Of course you should buy a condo in Fort Lauderdale. We live, work and play here in Ft. Lauderdale. Lots of great buys and a great place to live. Weather is fabulous. I'd be more than happy to send you some deals here. Feel free to contact me at or 954 868 2681. We would love to help you find you a place
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