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Real Estate Trends
Condo This!
For seven years, Mira Calton and her husband, Dr. Jayson Calton, owned a
floating home, one of the 165 privately-owned residences on The World, a
644-foot yacht that continuously circumnavigates the globe. Owning a home on
the yacht, whose home port is Miramar, Florida, is similar to owning a
cooperative—Calton and others purchase a unit by purchasing shares in a corporation. While
most cooperative and condominium units around the country are in traditional
buildings, there are properties, like The World, that follow a non-traditional
style of ownership.
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Green by Committee
Green truly is the new black in South Florida. As more and more condos and HOAs
look to save money as expenses rise, more and more boards and unit owners are
exploring ways to incorporate “greening” into their building community.
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Making a Good Impression
When a celebrity or public figure stands out and charms the public, he or she is
said to have charisma—an elusive quality, often described as personality, magnetism, charm or appeal.
Whatever you call it, it's highly desirable, thoughtfully cultivated, and not
limited to human beings; properties can also be appealing in their own way. In
today’s recovering, but still less-than-robust economy, making a good impression at
the curb can make all the difference in a quick and profitable sale.
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May I Help You?
For most people, there simply are not enough hours in the day to do everything
that needs to be done. We rush to pick the kids up from school, make it to that
impromptu work meeting that just got called or even find the time to grab some
take-out dinner before we climb into bed and do it all again the next day.
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Revisiting Reverse Mortgages
Florida has the highest percentage of seniors in the United States; approaching
20 percent of the state's population is over 55, according to the latest U.S.
Census. And because of the large numbers of senior citizens residing here, The
Sunshine State has been a strong market for reverse mortgages, a type of loan
structure that is only available to senior homeowners 62 years and older.
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Aging in Place
Citizens over the age of 65 comprise nearly 13 percent of the U.S. population—just under 40 million seniors. By 2030, it is estimated that 72 million Americans will be over the age of 65,
nearly doubling those numbers. Where this volume of seniors will live and how,
is a question facing not only the individual seniors but also many boards and
property managers, who are seeing an increased population of older residents. It is to be expected that this group will dramatically change the face of aging
and retirement.
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Good News Ahead?
Local realtors are confident that opportunities await buyers and sellers alike
in South Florida’s 2013 residential real-estate market. The doldrums of the 2006-2010 recession
may finally be in the rear-view mirror. Although prices are trending upward and
inventory is shrinking, determined buyers still should be able to find property
they want and can afford, while sellers can expect to be satisfied with what
they receive.
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Don't Get Caught Short
Despite being surrounded by both salt and fresh water, many cities and towns in
South Florida face ongoing water management issues. According to the South
Florida Water Management District, more than 7.7 million people—plus the environment, agriculture, businesses and visitors—rely on South Florida's limited water resources. Whether defined by shortages,
or by challenges related to flooding or drainage, water issues are among the
biggest that HOAs can face.
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Best Impessions
As the old saying goes, you never get a second chance to make a first
impression, and for homebuyers, that first impression is almost always the view
from the street. No matter how deluxe the accommodations inside, if the property’s exterior is less than desirable, a buyer’s mind is often made up before they enter the front door—if they even bother to go that far.
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Managing Properties in Tough Times
The economy cratered—to use a term in popular parlance at that time—in September 2008, with the collapse of too-big-to-fail Lehman Brothers. While
the measures undertaken by the federal government and the Federal Reserve
averted complete financial meltdown—it never reached the point where we had to transport the necessary dollars to
buy a loaf of bread in a wheelbarrow, as happened in Italy a few decades ago—the last few years have been a litany of ominous economic indicators.
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