Ellen Windheim
& Leonard Zackon

Ellen: 954-673-7136
[email protected]

Leonard: 954-673-7138
[email protected]

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Summit Towers on Hollywood Beach – Market Stats

Here are the active listings for the Summit Towers as of Dec 15,2008.

 

       Bedrooms      No. of listings            Price Range

              1                      9                 $179,000-325,000

              2                     19                $349,000-599,000

              3                      3                 $525,000-595,000

 

Here are the closed sales for the year as of Nov. 30,2008.

            1                         2                 $210,000-225,000

            2                       11                 $310,000-375,000

            3                        3                  $555,000-575,000

    There are currently 4 pending sales – all 2 bedrooms

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Reo’s: Foreclosures are not always the best real estate deals

I recently had a call from a Canadian buyer who asked me to find them a foreclosure or a short sale at the Summit Towers in Hollywood Florida.  Not an unusual request in these days of market madness.  When I responded that there are deals that are actually priced below what a short sale recently sold for, the buyer again asked for a bank-owned property. Patiently, I tried to explain that short sales frequently do not sell at the price listed by the selling realtor, but are subject to bank approvals. They are then sold to the highest bidder, and it can take months before a sale is successfully completed. On the other hand, there are condos where the seller does not have a mortgage, so there is no financial institution involvement, yet the seller is compelled to sell at prices even below a short sale.  And such deals are far more likely to come to fruition, because there are only the buyer and seller involved in the transaction.

The buyer described above persisted in his request, maintaining he was only interested in a short sale. Luckily for the Summit Towers, in the past year there have been only 2 short sales out of almost 600 units.  Now, that’s the kind of stability buyers should be looking for. And there are condos, upgraded with excellent water views, that are available at prices below the short sales. But some buyers are so focused on the mystique of the ‘short sale’, they will miss out on the best deals.

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Summit Towers Hollywood Beach and the Candy cane Parade

     This will be the ninth year in a row that my family and I will be going to the 53rd annual Hollywood Beach Candy Cane Parade.  On Saturday night, we will enjoy the many floats, clowns, marching bands and local personalities. We will catch some of the thousands of candy canes which will be tossed to the crowd – to the thousands of people who have driven to the recently refurbished Hollywood broadwalk for this annual event.

     But best of all, my daughter and I do not have to drive a long distance or fight for parking. We live at the Summit Towers on Hollywood Beach – just steps to the Broadwalk. It is a leisurely ten minute stroll with the beautiful Atlantic Ocean on one side and great shops and reastaurants on the other. I know it will be a lot of fun.

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top 3 reasons everyone needs a real estate agent

3 reasons: we’re [youtube]http://www.youtube.com/watch?v=stdJd598Dtg[/youtube]looking and you need us.

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