First Service Realty
Let me know if you have a client you want to refer or if I can be of further service. I would love to work w a fellow Chicagoan...did you try that huge Asian buffet there? yum...it's owned by my gf's uncle fr LA.
Real Living First Service Realty
3319 Sheridan Street
Hollywood, FL 33021
There are myriad unlisted properties in the active pipeline: estates, investors, sellers who would move or trade down if they could, those fractured by the recession. existing unsold developer inventory, and the many properties now in foreclosure or on which a lis pendens had been filed (or will be as time passes.). In 2002 and 2003, the average owner-hold of a residential property in Borward County was 5 years (per County Appraiser), two years less/faster than the national average. The Hollywood Lakes' ca.1200-home 14021401 appraisal district (about a third of the neighborhood) has averaged fewer than 40 qualified sales in each of the last three years; if that rate were to continue, the average hold would be stretched to 30 years.
The real question is whether employment in the area will improve, and improve significantly. The South Florida economy is built on tourism, relocation from other states (especially retirees), and real estate development. Those three growth-forces waned after Hurricane Wilma and Katrina in 2005 and much moreso after the beginning of the Bush recession. Unless/until economic conditions improve (or mortgage lenders once again become criminally careless), there will no improvement in sight.