Ft Lauderdale - Flagler Village
The Related Group

The Related Group has started site work for their next project located on Federal Hwy, north of Broward Blvd between NE 5th St & NE 6th St.   This site is located in Flagler Village, which is a subdivision adjacent to Downtown Ft Lauderdale.  The development will be a 6 story, 390 rental building including 2 pools, gym, spa, cyber cafe and meeting room. The development will help connect Downtown Ft Lauderdale and Flagler Village, as the site has been vacant for several years.  The development is the 2nd announced by The Related Group after New River Yacht Club.

Judge approves Howard Johnson (HoJo) site in Ft Lauderdale

Howard Johnson

Ft Lauderdale, Florida

A Maryland real estate investor is set to acquire approximately 2 acres located on Ft Lauderdale Beach at 700 N Fort Lauderdale Beach Blvd for $22.5 million.  The former Howard Johnson was slated to be a 170 unit oceanfront condo building called Orion.  No word yet on the new owners intentions.

Sales to begin at Related Group's Beachwalk Condos

Beachwalk Condo
Hallandale Beach, Florida

The Related Group is preparing to launch yet another real estate condominium project in South Florida.  The latest venture is called Beachwalk Condos and is located in Hallandale Beach, a city just South of Fort Lauderdale.  The condo will feature a mixture of condos as well as condo-hotels.  There will be 216 condo hotels & 84 condos with pricing ranging from $399,900 to $699,900. The Related Group have announced another condo hotel in the Brickell area and have broke ground on a rental project in Downtown Ft Lauderdale called New River Yacht Club.

Fannie Mae to upgrade short sale process

Fort Lauderdale Short Sales

The government agency that purchases loans from lenders, Fannie Mae, has upgraded their short sale process. The upgrade to Homepath aims to increase the time it takes for short sale approval.  The upgrade includes a better communication with the parties involved and can assist in transaction shortcomings such as valuation errors.  This will hopefully engage more buyers in the Ft Lauderdale market to buy a short sale property if they know the time periods for approval are shorter.

Coral Ridge Golf Course Redevelopment Continues

Coral Ridge Country Club
Fort Lauderdale, Florida

The redevelopment of a golf course in Coral Ridge, a high end subdivision of Fort Lauderdale, into a single family development continues to progress.  The developer is seeking commission approval to amend the future land use plan from open space to residential development.  The site is located at 3850 N Federal Hwy Fort Lauderdale, Florida.  The property consists of approximately 21 acres and is apart of the Coral Ridge Country Club.  An earlier proposal back in 2006 called for a more dense project consisting of 61 single family homes.  The project has since been scaled down to include 37 single family homes plus an open space for a future passive park.

Median prices increase for single-family homes in Broward County

Broward County Home Sales

The median price of a home in Broward County has increased to $208,000, a 12% increase year over year.  The median price for a condo in Broward County also rose to $85,000, which represents a 14% increase from last years statistics.  Multiple offers are common in sought after subdivisions across the county.  A lack of inventory is one of the parameters that are positively affecting local real estate values.

Median prices for single-family homes in Broward County

2012  $208,000

2011  $185,900

2010  $196,000

 

Source: Greater Fort Laudedale Realtors

580 Golden Harbour Dr
Boca Raton ,FL

The luxury home "squatter" who famously made headlines the past few weeks has been officially evicted by the property owner, Bank of America.  A 23 year-old man temporarily enforced a long standing Florida law called "adverse possession." Adverse possession allows someone to gain title to a property if he or she is living there openly, maintaining the property and paying the taxes.  The property is located in Boca Raton, Florida, a City approximately 20 miles north of Fort Lauderdale.  The waterfront property was over 7,000 square feet and estimated to be worth $2.5 million.

Condo Profile: Las Olas Riverhouse

Las Olas Riverhouse
Fort Lauderdale, Florida

Las Olas River House is a high-rise condominium located in downtown Ft Lauderdale that offers elegant residences with 5 star amenities. Las Olas River House is ideally located on the New River with a short stroll to the nightlife and fine dining that Las Olas Blvd has to offer. Condos at Las Olas River House range in size from 1,250 to 7,000 sq ft.  Currently, there are 7 units on the market ranging in price from $450,000 to just over $4,000,000. Residents can expect a high standard of living at Las Olas River House including concierge services, 24 hour security, a private Bistro, tropical pool, meeting space and valet.

Ft Lauderdale Beach to repair damage caused by Hurricane Sandy

Ft Lauderdale Beach

Ft Lauderdale Beach will undergo a $8.3 million repair project to replace the area damaged by Hurricane Sandy along A1A.  Certain areas have been closed along A1A from NE 14th Ct to NE 18th St.  This is certainly good news for homeowners who own real estate in the area as well as beach lovers who have been unable to utilize certain parts of the beach in Fort Lauderdale.