Ellen Windheim
& Leonard Zackon

Ellen: 954-673-7136
[email protected]

Leonard: 954-673-7138
[email protected]

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The Summit: Hollywood Beach Condos

view from balcony

View From The Balcony

1201 S. Ocean Dr. Hollywood Florida, unit 704

The best priced deal currently at the Summit Towers for a 2-bedroom/ 2-bath condo is $325,000.

That’s for a split plan unit, overlooking the ocean and the intracoastal, measuring about 1600 square feet.  Do the math, and it works out to a little over $200 a foot, asking price.  It doesn’t get any better than this.  If the seller owed money to a bank, it would be a short sale, and there would be buyers lined up.  But the seller doesn’t have a mortgage, and just wants to sell this vacation home as quickly as possible.

For more information, please email [email protected]

or call 954-673-7136

Posted by Ellen Windheim | Currently Comments Off on The Summit: Hollywood Beach Condos

Housing Market in Broward vs Dade

601px-map_of_florida_highlighting_south_florida_svgYesterday’s headline on the front page of the Miami Herald:  Broward’s recovery may beat Dade’s.   The article goes on to say that Broward’s housing market is closer to bottoming out, what with low sales prices, low interest rates and the $8000 tax credit for new home buyers.

The actual number of sales was greater for Broward than Dade  (28%)  while   inventory levels were lower   (a 21% decline in 2009 over 2008 for condos in Broward  and 18% in Dade).   This means that balance is finally being restored between buyers and sellers:  this is the first step for prices to reverse the downward trend and begin to rise.

Not only is the stock market showing signs of vitality, even traditional media like newspapers are turning more positive.

What the newspaper doesn’t mention is the downward trend of the US dollar, and the impact of strengthening foreign currencies on sales.  We know that South Florida is a great market for second homes and in Broward in particular, we have many Canadian buyers who have seen their currency soar in the last few weeks.

We’d love to hear from any foreign buyers who have bought homes or condos in the last month or so in South Florida. Please add your comments below for our informal survey.  You can also take part in our new poll


Do you think the condo market in Broward has already hit bottom?(online poll)

Posted by Ellen Windheim | Currently Comments Off on Housing Market in Broward vs Dade

Great news for Florida Condo Sellers

beachIn Florida’s year-to-year comparison for condos, 4,660 units sold statewide vs 3,862 units in April 2008 for a 21% increase

This represents  the eighth consecutive month that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR).  In fact, April’s sales increase represented  both the existing home and existing condominium markets.

Many interpret this as a further signal that the real estate market has bottomed out.

Our personal experience and information gleaned from other realtors bears this out.  In the last month, the real estate orange sold 4 condos in one condo building alone, namely the Summit Towers in Hollywood,   all within 10% of asking price.

If you have an opinion about the real estate market, and whether now  is a good time to buy or sell, please add your comment below.  We’d love to hear from you.


Posted by Ellen Windheim | Currently Comments Off on Great news for Florida Condo Sellers

The Wave in Hollywood Beach, Florida

wave-lobby1

With a $30 million renovation completed in 2004, the Wave (2501 South Ocean Drive) became one of the newest jewels on the Beach and remains one of the best buys in South Florida for a number of reasons:

The Wave has low maintenance fees and, because of fewer short sales and foreclosures than in most of the newer properties,  it is a safer investment

This Renovation Has Many Upgrades

Call me for more information: 954-673-7136

email: [email protected]

Posted by Ellen Windheim | Currently Comments Off on The Wave in Hollywood Beach, Florida

Priced Right = Fast Sale

Many people LIST their homes for sale but don’t PRICE their homes for sale. Far too often a home or condo sits on the market for months or even years because the seller and the agent have not done their pricing homework.

Here are 2 examples of proper pricing and the results

I recently listed condo unit 2210 at the Summit Towers in Hollywood for $360,000.  Within 48 hours it was sold.

One week later I listed condo unit 612 at the same building for $349,000 and it sold within 10 days.

Other units at the building  have been listed for as long as one year.  When you have a financially stable building in a desirable location, price your condo right and you will sell it fast.

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Summit Towers on Hollywood Beach – Market Stats

exterior-front3Here are the active listings for the Summit Towers as of May 25, 2009

Bedrooms                      No. of listings                   Price Range

1                                            7                           $219,000-295,000

2                                           18                          $295,000-519,000

3                                              4                         $459,000-675,000

Here are the closed sales for the year as of May 25th,20009

1                                              1                               $129,000

2                                              2                               $270,000 and $317,000

There are currently 5 pending sales

1                                               1

2                                              3

3                                              1

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Hollywood Fl: Summit Towers Unit 612 N

view of the intracoastal

view of the intracoastal

Foreclosure, pre-foreclosure, short sale:  these are the tags that many bargain driven buyers are looking for.

Not a foreclosure, not a pre-foreclosure, not a short sale:  these are the phrases that some realtors use to describe a really good deal, when the seller doesn’t have a mortgage.  And those are the phrases that savvy investors should check out.  For example, the newly listed condo at 1201 South Ocean Dr,  The Summit Towers, unit 612 N.   Outstanding features such as :

FOR ONlLY $339,000!

kitchen w. granite counters & stainless steel appliances
kitchen w. granite counters & stainless steel appliances

For more information, please contact me at

954-673-7136

Posted by Ellen Windheim | Currently Comments Off on Hollywood Fl: Summit Towers Unit 612 N

Hollywood Beach – I love it

boardwalkEvery day I can walk, jog, bicycle or roller blade on the recently refurbished  Hollywood Broadwalk. I can gaze out at the endless ocean while dining at one of the multitude of restaurants. I can people watch while sipping a cold one at one of the busy bars

But there’s more! There are also many special events taking place in May, June, and July:

The 4th Friday of each month is Classic Car Night

June 5th is the Brazilian Film Festival

Every 2nd and 4th Friday is the Broadwalk Friday Fest with an array of terrific live entertainment

Every Monday and Tuesday night is Music and Dancing Under the Stars

Hollywood 4th of July celebreation with patriotic music, children’s fun games and a spectacular fireworks display

AND GUESS WHAT   ————- IT’S ALL FREE

I love Hollywood Beach.

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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.

Posted by Ellen Windheim | Currently Comments Off on Reo’s: Foreclosures are not always the best real estate deals

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