Fort Lauderdale water park

Florida’s a great place to live, but we know just how hot and balmy it can get during the summer, and actually throughout much of the year for that matter. Fortunately, you can find some great ways to keep cool. Some head to the beach, while others seek refuge in air-conditioned homes, bars, shops, and restaurants. Another great way to beat the heat is to visit a water park, and South Florida might just be getting a brand new park that residents and vacationers alike will love.

Big Plans for the Park

Schlitterbahn Waterparks is planning a park that will be two times the size of the already large Rapids Water Park in Riviera Beach. This new park is quite ambitious and has a large number of rides and rivers that connect with one another. What does this mean for visitors? It means that you will hardly ever have to leave the water during your visit. They have quite a few big ideas for the park too, and they want it to be a family friendly place that’s great for adults, as well as young children.

Some of the other things about the park that sound great include the fact that they do not plan to charge fees for the inner tubes or life jackets, they will offer free parking, and you can use the picnic tables. They even let you bring in your own cooler and lunch to the park. Many other theme parks have very strict rules about what you can and cannot bring into the park with you when it comes to food.

However, the park is still a ways off. They feel that the earliest it will probably open is sometime in 2017.

What Will the Park Offer?

Water is the name of the game at the park, but they do plan to offer more than just water rides. They also will have luxury suites around the perimeter of the park. Called “Treehaus”. They will resemble tree houses from the outside, but they will actually have luxurious accommodations on the inside. In fact, the suites will have three bedrooms and a pullout in the living room, which could accommodate twelve people. The cost of renting the suite would be about $1,000 a night during the height of the season. Spread among ten or twelve people though, this is a great deal.

The cost of admission to the park for the day would run about $50. When you compare that to the cost of other theme parks, it’s easy to see that it really is a great deal.

In addition to the water rides and attractions, the park will have shops and dining areas just as any other theme park might have. While it is still a couple of years away, people are increasingly excited about the idea of getting to the park and cooling down. It will be great to help bolster tourism, and it will bring even more jobs to the area. All in all, it’s a great idea for the Fort Lauderdale area.

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Fort Lauderdale condo

Luxury condos are taking the place of the old Fort Lauderdale Beach Howard Johnson’s hotel. The old economy hotel and restaurant was razed in late February to make room for a new condo tower by Paramount developers Nitin Motwani, Daniel Kodsi, and Art Falcone.

The Howard Johnson’s hotel, located at 700 State Road A1A was severely damaged almost a decade ago by Hurricane Wilma. Since then, it’s been an eyesore to the Fort Lauderdale community. The razing of the hotel and construction of the new Paramount Fort Lauderdale Beach project are very welcome events, as the whole area looks to benefit from rebounding and rising property values. A company managed by Nitin Motwani purchased the Howard Johnson’s property for $20 million. The group has now started construction on a tower that will house 95 units, with prices starting at $1 million.

The Paramount Fort Lauderdale Beach property will be 18 stories tall. The developers have set construction to start in the third quarter of this year, and it should be completed in just two years, by the winter of 2016. Condo units are now for sale and can be purchased easily by those looking for a luxury home, near enough to all of the nightlife and culture of Miami, but far enough away to be a bit quieter and more relaxed.

Developing for the Future

The developers are only requiring that homebuyers put down 30 percent of the value of their purchase, and they’re breaking that down into three increments. Buyers will put down 10 percent to reserve themselves a condo. Then they’ll put down 10 percent when they go under contract for the unit, and, finally, they’ll put down another 10 percent at the time of groundbreaking.

Thanks to good luck, a stabilizing economy, and equity financing (which we all know is getting harder to come by these days), potential homeowners for the property can save on their down payments, and breaking those payments up into thirds makes them a lot easier on buyers’ wallets. It’s always easier to spend $100,000 than it is to spend $300,000 or $400,000.

With improvements like this economy hotel getting razed to make room for luxury condominiums, property values in the Fort Lauderdale area can only increase. That’s good news for current homeowners and everyone purchasing real estate in the area right now. These investments are sure to pay off in the long run.

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1500 Ocean Drive Miami Beach

L’Hermitage Condo is situated directly in Fort Lauderdale on Oakland Park Blvd and the ocean. This development offers luxury spacious condo properties. Perfect for those who love the sun, warm climate and the ocean, L’Hermitage Condo offers privacy, security and wonderful grounds to enjoy activities such as clay courts tennis, 4 swimming pools, kids grounds, cafe and state-of-the-art landscaping.

The Property

L’Hermitage Condo has a contemporary feel to it, with luxury in every regard. This is a gated community, offering a very private place to live. Pets are welcome at L’Hermitage Condo. Take your dog for a walk and you can enjoy the walk along the ocean in a private single family oriented area. There are also private roads and plenty of security provided for residents.

The units include luxuries such as marble floors, high-end finishes and more. The kitchens are provided with top-of-the-line appliances. There is a clothes washer located in the units and a dryer, as well.

All of these make L’Hermitage Condo a great place to call your own. Prices generally range into the six-figure end of the scale and beyond, making this a genuinely luxury property. The square footage of the condominium units gets above 4500 feet at the highest end. The condominium units come in many different configurations, all away up to five bedroom units that are ideal for people who have families.

Getting In

Watching the listings and see when they become available is imperative for condominium developments like these. Fort Lauderdale has been enjoying brisk real estate sales recently and the market has largely recovered. With so much demand on the market, it’s likely that anything that becomes available at luxury development such as L’Hermitage Condo is not likely to stay available for long, so you’ll want to be working with a realtor who knows when to jump on a good deal and who knows how to negotiate so that you get the best price possible. L’Hermitage Condo is only one of the excellent properties available in the area that offer waterfront access and plenty of amenities.

For more information or to see available units for sale please visit:

L’Hermitage Tower I – http://www.sunnyislesmiamirealestate.com/Fort-Lauderdale/L%27Hermitage-I/
L’Hermitage Tower II – http://www.sunnyislesmiamirealestate.com/Fort-Lauderdale/L%27Hermitage-II/


Miami Beach condos for sale

Miami Beach real estate

Miami’s waterfront Single-family home sales

as well as oceanfront condos are surging up to the new heights. The sales volume is similar to the 2005 real estate boom.

In Miami-Dade County, sales of single-family homes soared 27.3 percent in July to 1,227 sales compared to 964 sales in July of last year. Condo sales rose 13.4 percent, up from 1,356 in July 2012 to 1,538 last month.

“The Miami real estate market continues to thrive as demand for housing intensifies and increasing inventory remains insufficient,” Miami Association of Realtors board chairman Natascha Tello said in a release.

In Broward County, there were 1,475 home sales, a 13 percent increase from July 2012, while Palm Beach County saw a 21 percent gain in sales activity in July, from 1,233 to 1,486 sales.

Across Florida, home sales totaled 21,238 last month, up 21 percent from a year ago, according to the Orlando-based Florida Realtors association.

All-cash purchases continue to dominate the Miami homes and Miami condos market, accounting for 66% of overall sales. In fact, Florida led the nation last month with what RealtyTrac spokesman Daren Blomquist called an “astounding” rate of all-cash home sales: 66 percent.

Institutional investors, foreign buyers, landlords and vacation-home shoppers are fueling a cash-only market where first-time homebuyers’ mortgages can’t compete. Cash sales made up 57 percent of Florida’s home sales a year ago and 61 percent of all sales in June of this year, compared with the 66 percent reported in July, according to the report released today by Irvine, Calif.-based real estate research company RealtyTrac Inc.


Miami celebrities homes for sale

Miami Beach Luxury Estates

Miami has a reputation for attracting celebrities. Particularly areas offering luxurious homes for sale in Miami Beach, luxury waterfront homes in Fort Lauderdale and most beautiful Coral Gables estates, which have many of the qualities that celebrities look for in housing. Aside from large price tags and luxurious estates, there are some aspects of housing in this area of the nation that make it particularly amenable to the needs of celebrities and other individuals who have high profiles for other reasons, such as government officials.

Privacy

Many areas in and around Miami have gated communities or, at least, security that is available to help maintain the privacy of residents. For many people who have a high profile, this is an absolute necessity. As just one example, Fisher Island residences is one of the most expensive places to live in the United States. Some of the people who live there live there because they are wealthy enough to afford such luxury, but other people live there because the island is entirely private. People who are very well known can go about their lives normally without worrying about being recognized, hassled or having to deal with any of the other drawbacks that do come along with being publicly known.

Exclusive Areas

In addition to having a very vibrant and diverse culture, Miami does have some very exclusive areas of town. Areas such as Bal Harbour real estate, of course, open to anyone and everyone who wants to come down and enjoy some of the most upscale shopping in the world, but there are many well-known people in that area most of the time and, because of that, people who do have a high profile can enjoy going out and about and not standing out among the crowd. This is one of the more attractive elements of living in the Miami area, given that it doesn’t necessarily mean having to live in a gated community all the time.

Nightlife

Of course, if you happen to be living well, it doesn’t make much sense to not enjoy it. Miami has some of the best nightlife in the world. Take the distinctive music of the city, the characteristic colorful lighting and the very active and energetic streets and you have the recipe for an incredibly gratifying night out on the town. Whether you want to go somewhere casual and enjoy some dancing or go to some of the most exclusive establishments in the country, you can do it in Miami.

Miami real estate

has a lot to offer for people who are easily recognizable in public and who want to simply live a good life and not have to worry about being singled out constantly. Of course, many people of means do want to invest their money and, because the Miami real estate market has been picking up remarkably well in recent years, more people are moving here all the time. For privacy, upscale living and the ability to choose between many different types of luxury homes, Miami is very difficult to beat. These are only some of the many reasons that so many famous people are attracted to the city.


Miami Luxury Homes For Sale

Waterfront Homes For Sale In Miami

It appears as though the sale of luxury homes in Miami

might once again be on the rise. Last month, a penthouse in The Setai sold for approximately $27 million. Currently, this amount has set a new record for the most amount of money ever paid for a condo in the South Florida region. Neatly situated on the 40th floor of the high rise building, this penthouse suite boasts 4 bedrooms, 4.5 bathrooms, and an overall size of 7,100 square feet. Prior to that there was a sale of $21.5 million dollar condo in the same building back in 2011. The previous record for the amount of money ever paid for a single condo in South Florida was $25 million, which was sold in May of 2012.

Whether or not these signs are indicative of a recovery for the housing market of Miami is going to depend upon who you talk too. At the 2012 Miami International Real Estate Congress event at the Miami Biltmore Hotel, Lawrence Yun, the chief economist for the National Association of Realtors, stated that approximately 77% of Miami’s higher end realty firms had worked with international buyers. By comparison, only 27% of high end realty firms, across the United States, have worked with international buyers in the last year.

Miami’s exposure on an international level has been primarily responsible for the increase in growth from foreign buyers. The majority of foreign buyers have come from South America, Russia, Europe and recently sectors like China and India have shown interest from buyers seeking for a safe haven for their cash at the moment.

The sale of luxury homes in Miami

as well as non-distressed properties is certainly a desirable commodity right now. Available inventory levels have been tight since the summer of 2012. Many residential homeowners are still reluctant to place their homes on the market until they have begun to recover more of their pre-housing crisis values. On the downside, if the value of Miami homes continues to rise at its slow pace, the National Association of Realtors believes that it will be 2017 before these homes return to their pre-crisis levels.

The signs of recovery are there. Between August of 2011 and August of 2012, the median home prices in Broward County rose by 12.5% to an average value of $215,000.00. Is it safe to say that the housing slump is over? It is too early to tell at this point, but if the sale of luxury Miami homes is any indication, buyers are, once again, looking to Miami as a city worth investing in.


Miami Beach Condos For Sale

Miami Beach real estate

In the last 12 months, the luxury Miami real estate

has experienced an unprecedented amount of growth. Many individuals interpret this information to mean that the housing market is making a comeback. While the evidence certainly points towards this, what most people do not realize is that foreign capital has become a significant driving force behind the growth of luxury sales in the city.

In particular, prospective buyers from Latin America are flocking to Miami in droves. In a recent fourth quarter report, released by Marcus & Millichap, it was stated that foreign capital from Latin American countries was the single biggest force behind multi-family acquisitions. The growth of the local economy in Miami remains so-so, but according to the report, “expanding access to acquisition debt at low interest rates and rising rents are sustaining investor demand.”

Miami homes

as well as Miami condos in upscale areas of Miami, like Miami Beach, have begun to exchange hands with a first return of roughly 5%. By comparison, similar acquisitions in nearby Coral Gables are producing first year returns in the low 6% range. Another section of the report has this to say on the subject:

“Miami-Dade also continues to cement its stature as a safe haven for Latin American and European capital, and many foreign buyers are stepping up multi-family acquisitions, frequently in all-cash deals.”

However, it is not just interest from Latin American buyers that is fueling growth. Purchases made by buyers from China, India, and Brazil have become quite common. In particular, Brazil and India have become home to individuals with new wealth, which is affording them the opportunities to purchase homes abroad that were not present before. Other buyers are choosing to sink their cash into the Miami waterfront homes as well as the housing market as a whole, creating a safe method of protecting their wealth.

Lawrence Yun, who is the head economist for the National Association of Realtors, stated that 77% of Miami’s high end realty firms had worked with foreign buyers in the last year. In contrast, only 27% of high end realty firms in the United States had worked with foreign buyers in the last year. These levels of interest have been unprecedented. In an effort to protect their privacy, many foreign buyers make their purchases behind the shield of lawyers and limited liability companies.

The prospects for the Miami housing market in 2013 appear to be solid. In addition to the influx of foreign buyers, other factors, such as falling vacancy rates and an increased pace of job growth, have the housing market looking healthier than it has in years. Another exciting component is that an increased number of Latin American based companies are now choosing to make Miami their headquarters. As more and more individuals with buying power begin to transfer their home base to Miami, it is expected to fuel the growth of the housing market even more.

It is going to be exciting to see what 2013 brings this year.


Fort Lauderdale real estate For Sale

Fort Lauderdale Homes For Sale

The news for Fort Lauderdale real estate

has been very good lately, as well as for the entire Broward County. According to recent reports, the median price of existing single-family homes in Broward County improved in October of 2012, compared to their performance in October of 2011.

The median price of a home was $211,000. This marks a 15.9 percent increase in the median price compared to October of 2011. A similar jump in price was reported for townhouse condominium properties, with those properties rising 14.6 percent during the same timeframe.

The performance of single-family homes in Fort Lauderdale has been bolstered by the movements of the market in general.

The Inventory

These price gains are supported by the fact that the single-family home inventory declined in Broward County over the last year. In October of 2011, there were nearly 50 percent more homes available than there were in October of this year. In fact, the inventory fell 49.1 percent during that timeframe, with 4806 units in total being available in October of 2012. This has some important implications for the market, particularly for those who are considering selling a home, though it is also good news for those who are interested in purchasing a property in Broward County.

The Real Estate Market

Declining inventory and increasing prices mean that the market is likely to be more amicable towards sellers in the near future. As the performance of real estate in Florida has started to recover, the buyer’s market has leveled out a bit, making selling a home a more attractive proposition for people in general.

Declining inventory demonstrates that homes in Broward County are most certainly in demand, which means that sellers may have a bit more leverage when trying to negotiate a good selling price for their property. The assistance of a qualified realtor is imperative in these market conditions, as it is possible to end up with a bad deal, whether you are a buyer or a seller.

How Expert Realtors Can Help

With home values on the rise, it’s easy for sellers to become unrealistic about what constitutes a good price on their home. While the market is improving all-around, there is always the possibility that sellers will get a bit too taken with the performance of the market and will assume that they can start asking unrealistic prices for the properties. Even though the median home value may be going up, that doesn’t mean that buyers are in a position where they have to take any sort of a deal offered.

Realtors have excellent information about the market, inventory and all of the other factors that play into pricing a property. If you are considering selling your home or if you’re interested in purchasing a house in Broward County, contacting a qualified Fort Lauderdale real estate agent to give you assistance will ensure that you get the best possible deal, no matter which side of the transaction you happen to be on. With the real estate market improving, there’s never been a better time to investigate your options, whether you are a buyer or a seller.


South Beach Condos For Sale

South Beach real estate

It started out as a dream project in 2008, Shlomi Alexander and Felix Cohen, two lifelong friends, invested $10.7M into the Indian Creek Island land in 2007 to build a spectacular, one of a kind home in the most sought after islands of Miami Beach. However, after completing the project, the times were tough for the real estate across the country and Miami Beach was no exception.

As of this week, 3 Indian Creek was closed for a whopping $47 million, a new residential sale record in the history of Miami-Dade. The mansion offers 30,000 square feet of ultra modern design (designed by architect Rene Gonzalez) with 10 bedrooms, 14 bathrooms on an 80,000 square foot lot, 100-foot pool, a glass-encased waterfront gym, 205 feet of bay frontage, and its own beach.

The foreign buyer paid over $47 million in cash and placed the house in the name of a limited liability company. The previous Miami Dade County record was set in March of this year, when Edward Lampert paid $40 million for another Indian Creek Island home.

It’s the second large-scale deal on the Miami Beach barrier island in less than two weeks, following the combination $24.6 million purchase by a foreign buyer at the St. Regis Bal Harbour condominium at the end of July.

This indicates that the Miami real estate market still really hasn’t reached its potential. Miami Beach luxury homes are still underpriced compared to other markets internationally, like New York, Los Angeles, Sao Paulo and Mexico City. People still see Miami as a great potential for an investment.


Miami Condos For Sale

South Beach Condos For Sale

The luxury market in South Florida is exploding, with record-breaking residential listings as high as $125 million for the recently-listed former Versace mansion. But with prices that look like those of 2006, some are warning that Miami’s high-end market might be forming another bubble, CNBC reported. It is the type of speculative, largely foreign buyer in South Florida that worries experts. If Europe’s economy collapses, or if global markets fall back into a recession or even slow, the market for Miami’s pricey real estate could collapse overnight. “This is flight to safety for these buyers, an investment decision,” said Jonathan Miller of Miller Samuel Real Estate Appraisers and Consultants. “The question is, how long and how far will it go? Does this create a bubble at the very high end in these specific markets?”

In the meantime, the new condo transactions at the St. Regis Bal Harbour Resort & Residences as well as Mansions at Acqualina are off to a great start. About 170 units have been closed at St. Regis Bal Harbour Resort & Residences totaling more than $623 million in the first seven month of sales! In addition, deposits for about 80 units were collected at Mansions at Acqualina in the first 5 weeks of the sales center being open.

Buyers are purchasing these super-luxury, ultra-exclusive properties at an average $1,500 sq.ft. and paying on average between $1,2M to $13.5M dollars. This is a sure sign of Miami real estate exploding once again with prices breaking all previous records. The properties are up by 20 percent just this year, which even breaks the peak of 2006 year.
“Miami is hot and it’s not just the weather!” said Jack Levin, chairman of the Miami Association of Realtors.

Consider the stats: The lion’s share of Miami’s high-end real estate is now bought by foreigners. In 2010, according to the National Association of Realtors, Florida accounted for more than a quarter of the $82 billion in sales to international buyers.

The average price paid by those buyers was $400,000, against an overall U.S. average of $212,000. Sixty-two percent of international purchases were all cash, a percentage that has been increasing since 2007.

Real-estate economists and brokers say most of the foreigner investors are rich families from Brazil, Argentina, Venezuela and Russia. These families are growing increasingly nervous about threats to their wealth from economies and governments back home and are looking for a safe place to store their cash.

Miami is an ideal location, offering all the safety of the United States with the fun and mildly exotic feel of southern Florida.

In other words, Miami’s boom is not a broad-based market recovery driven by local families needing a home. It’s being fueled by a tiny top slice of super-rich overseas buyer looking for the latest hot investment.

As of the end first quarter in 2012, buyers had purchased nearly 45,000 condos in Miami, Fort Lauderdale and Palm Beach areas. They’ve spent over $22 billion dollars. Currently the developers are proposing at least 32 new condo projects with nearly 6,300 units in each of the tri counties Miami-Date, Broward and Palm Beach.

As of June 2012, nearly 1,300 luxury condos priced at $1 million or more are available for resale in the South Florida market where buyers are purchasing an average of about 75 units monthly between January and May of this year, according to the data.


Content published by Lana Bell

Content published by Lana Bell