Beach Club Condos For Sale & For Rent

Currently, Beach Club Hallandale condos

are on sale. Many investors and end-users think that the prices have bottomed out and now is the best time to buy that desirable oceanfront condo at reduced sale price. Although no one really knows if the prices have bottomed out or not, as a professional Miami real estate broker and someone who keeps the statistics and general trends and tendencies, I can tell you that currently there are great opportunities to own that dream luxury oceanfront condo.

Although each situation

is very different, there are units now available for sale owned by the bank, distressed owners and developers. However, the outcome is still the same -they need to sell their units as soon as possible and recover their investment. So, the time to buy is now, and the inventory is there, but what about financing?

Although it is more time consuming

and involves more paperwork, the financing is still available for US buyers as well as foreign investors. Most banks are looking for at least 30% down and income verification and, your mortgage is approved.

Currently in Beach Club I

there are about 11% of the units are on the market for sale. Beach Club II has about 17% and Beach Club III is at 18% inventory for sale ratio. A healthy hi-rise condo in the area is considered to be normal rate is up to 20%. So, Beach Club Hallandale towers are within the normal market.

The activity has doubled during the past 6 months. With about 20 condos sold it is a new record high in terms of sales for any given 6 months period. With sales averaging at around 10% of the asking price, currently there are approximately 26 more pending sales between the 3 Beach Club Towers.

In the immediate area

there are basically two other buildings of that caliber that compete with Beach Club. The newly built Diplomat Residences and Ocean Palms Hollywood, and that’s it! There is also Trump Hollywood is under construction, but it is scheduled to be completed within the next year. Both buildings are also showing an increase in sales, pending sales and general interest from buyers. Currently at or even below $400 per square foot level these condos were selling at well over $500 per square foot just 2 years ago.

Also, factors such as maintenance

and tax is a bit lower at Beach Club complex than anywhere else. At about .53c a foot and the taxes of about 1.5% it makes buying at Beach Club so much more attractive.

For your market analysis

and price comparison we provide all currently available listings on MLS for sale and for rent as well as sold and statistical data.

Beach Club One
Beach Club Two
Beach Club Three
Diplomat Residences
Ocean Palms

Or contact Leon Belenky, licensed Hallandale real estate broker at 954-560-7802.