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Archive for December, 2008

Double your pleasure in Ft. Lauderdale’s Perfect Destination- Las Olas Blvd.

Las Olas Blvd. is a happening place, it’s a perfect desination any time of the year.  Surrounded by fabulous shops, The Galleria Mall, restaurants for every taste, museums, galleries and The Broward Performing Art Center there is always something goingon at Las Olas Blvd.

One of the more popular events which happens every year on the New Year is coming up …….

It’s the 21st Annual Las Olas Art Fair held January 3RD and 4TH, 2009, Saturday and Sunday 10am-5pm.  

Admission is free, featuring over 300 artists from around the country and attracting 150,000 visitors each year.

The weather is usually in the upper 70’s bright and warm and lovely, the tourists and locals mingle, shop and buy,  eat good food and people watch.

Developers have fallen in love with the area of Las  Olas and with THE NEW RIVER and THE INTRACOASTAL WATERWAY which runs through the city.  Many of the new condominiums wich have been recently built bare the name of the Blvd. such as ……..

LAS OlAS RIVERHOUSE a 30 story condominium, 350 LAS OLAS, Luxury condominiums in a 30 story tower, priced from the mid $300’s, LAS OLAS GRAND a 38 story building with only 211 possible owners a luxury condominium with views of the Intracoastal water ways and the down town sky line on the front of The New River, and THE WAVERLY AT LAS OLAS, a sophisticated and elegant condominium priced from the low $300’s.

With real estate prices at a record lows one can easily double your pleasure shopping for real estate and art in Ft. Lauderdale’s famous LAS OLAS BLVD.

Tammy Schweitzer- EWM Realty Aventura, Florida

schweitzer.t@ewm.com

buyaventuracondos.com

When will enough be enough?

When showing buyers around last year we were finding some great deals at 20-30% off what had been market value. Many of them said I’ll wait,prices will go down more. I thought they could be right although as an agent we don’t like to hear I’ll wait. This year I have shown many great places at 50% off which in the up-scale neighborhood in Aventura Florida that I work I wouldn’t have believed possible. What is more unbelievable though is the buyer saying “I’ll still wait.”

Wait for what?

Yes, it is possible that prices could go a bit lower but how bad is 50% off? To get the pick of fabulous properties at an incredible price why would someone chose to do nothing? I feel confident that when the market comes back and it will ,that people will realize that waiting for the last drop brought them nothing.

The question becomes on a condo that had been $500,000 that is now half and goes back when things turn around to even $350,000 if not the original price. What is wrong with making $100,000 rather than not buying at all and making nothing. We saw the same mentality when it was a sellers market that they would turn down a good and decent price to squeeze the last dollar out. Many of these same people got caught when the market seemed to change overnight and never got close to what they turned down while waiting to grab every nickel they could.

Look ,we all want to make the best deal we can but there is a point where greed needs to take a back seat and we need to be reasonable. I am always reminded of a line one of my customers once told me pertaining to real estate PIGS GET SLAUGHTERED so lets not be porkers and in the end those not holding out to squeeze the last drop will be the ones that really make money.

Let’s make a verbal offer!

With so much Real Estate inventory around us and so many seemingly desperate sellers, more and more buyers are going on a fishing expedition for the best price by asking their Realtors to pass on a verbal offer.

Which buyer would a seller take more seriously? One who puts his money where his mouth is, of course. If the buyer would look at the transaction from the prospective of the seller then he may be more committed to the deal. As it is, all earnest monies placed on an offer is refundable at various stages of the contract process should the contract not be accepted.

In a quote attributed to Goethe “Until one is committed, there is hesitancy, the chance to draw back-Concerning all acts if initiative, there is one elementary truth that ignorance of which kills countless ideas and splendid plans: that the moment one definitely commits oneself, then Providence moves too. All sorts of things occur to help one that would never otherwise have occurred. A whole stream of events issues from the decision, raising in one’s favor all manner of unforeseen incidents and meetings and material assistance, which no man could have dreamed would have come his way. Whatever you can do, or dream you can do, begin it. Boldness has genius, power, and magic in it. Begin it now.”

My philosophy is, what’s lacking is serious commitment. As an example I recently had a customer who after getting to the bottom bottom of a great deal (verbal) still did not commit. In addition to two other offers presented with earnest monies, but he still thinks that the bottom has not hit the bottom his escrowed monies is still with our EWM Realty, a decision still not made.

What experiences have the rest of you Real Estate Tomatoes have in regard to this topic? Looking forward to your shared stories.

Tammy Schweitzer

buyaventuracondos.com

schweitzer.t@ewm.com