Are You An Active Buyer Prepared and Wanting to Purchase Now?
If you are a buyer, you couldn’t have picked a better time to buy! Interest rates are at an all-time historic low. This means you can buy more house for your money and your payments will be low although frankly most of my buyers are all cash buyers. However, that doesn’t mean that you want to or should tie up your money in a house when interest rates are so low.
Who wouldn’t want to get a 15 year jumbo at 2.75 percent?
Yes, CASH will always be KING – you can close a deal in just a few days—I think it’s important to explore all of your options.
You can invest all of that cash somewhere else and make more money – not that I am giving stock tips – but I absolutely LOVE the preferred stock STWD – a real estate stock which pays a very high preferred dividend of approximately 8 percent or higher since 2014. This is not a growth stock – it is an income stock! As always check with your financial professional to see if this preferred stock fits with your overall financial goals.
Waterfront homes are plentiful depending on your price point – oceanfront homes – not so much – as there are only so many oceanfront lots from Golden Beach to Delray Beach – and depending on where you purchase will depend upon the price.
Having set the record twice for a 100 foot lot in Lauderadle Beach – and having my client make a whopping 38 percent annualized (75 percent total) return on his 24 month oceanfront investment.
Obviously, these deals don’t come along everyday – you can imagine how happy I am when I can assist my clients in reaching their real estate investment goals.
Lauderdale Beach and Hillsboro Beach are two of the priciest areas.
A 100 foot lot in either of these areas will go for $10 million – whereas in Hillsboro Shores, you can get a brand new home on 75 feet of oceanfront for $10 million and a gorgeous 7 year old home for $7 million – which sounds better? And I have lived in Hillsboro Shores for 26 years.
It’s important to note, if you are a serious Buyer, you will be asked to sign an Exclusive Buyers Agreement – this allows your Realtor to Shop for you and give you the complete low down on the home – it means they can answer your questions in Paragraphs instead of Sentences – they become your Fiduciary.
When homes are priced properly – they will sell quickly in the luxury market – 90 to 120 days – if not, they become stale and will take multiple price reductions — as indicated in the graphs which I explain in the video where you will get a complete understanding of the Fort Lauderdale Market.
If a home is priced correctly, you will pay – even on Luxury about 90-95 percent of original List Price – if it’s not priced correctly – it could go as low as 73 to 75 cents on the dollar.
Be sure to put your name and email for the 3rd quarter Luxury market info and I will explain how to how to read the Fort Lauderdale Luxury Market and what it means for you!
You will get regular updates on the market quarterly.
I look forward to assisting your find the perfect home and reach your real estate goals!