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Recommended Investment Areas
South Middle River, Lauderdale Manors, Melrose
Park, North Andrews Gardens , Highland Estates in Wilton Manors, and the homes
near the redevelopment district in Oakland Park are a great start. For first
time homebuyers, this is a critical investment. We recommend purchasing
“transitional” areas that are defined by showing tremendous change and will in
most cases provide incredible annual appreciation. Also pay attention to your
comfort levels in different areas as well, because some people are more
comfortable than others in areas that are not established. In the Greater Fort
Lauderdale area, including the cities of Oakland Park and Wilton Manors, there
are a number of “subdivisions” which are excellent for first time home buyers
because they are either outlying well-known established areas or are sub-pockets
in these well-known areas poised for significant growth for other reasons.
In Wilton Manors, Highland Estates is an example
of a pocket of homes with considerable new construction that is excellent for
investment and first time buyers. In Fort Lauderdale, our highest
recommendations go to South Middle River which we refer to as “buying in the
box” defined by boundaries on the North of Wilton Manors, East from Middle River
Terrace, Poinsettia Heights and Coral Ridge, North of Sunrise, and East of
Powerline/9th Avenue. In this subdivision, starter homes can still be purchased
in updated condition for under $200K, well below the median Fort Lauderdale home
prices and with a location extremely close to Wilton Manors, the beaches,
shopping, etc.
To the West of South Middle River just past
Powerline Rd. the subdivision known as Lauderdale Manors is beginning to attract
first time buyers and is less expensive than South Middle River, but more
transitional. Wider, winding streets and bigger homes suggest this may be a
beautiful area very soon, and prices are starting to climb fast, promising great
returns. Melrose Park is a SW subdivision that although a little further away
from Wilton Manors for first time buyers it is recommended for the fast
appreciation, beautiful and circular street patterns, relatively large homes,
and skyrocketing values.
North Andrews Gardens , Lloyd Estates and any of
the subdivisions outlying the Dixie Highway redevelopment districts in Oakland
Park are also very strong recommendations.
Investment Strategies
Generally speaking, if someone has seen
significant appreciation on a property, has passed the two-year capital gains
window, and relies on continued appreciation heavily in their financial plans,
then the answer would be to “fluff and flip”. We would recommend that once an
investment area has leveled out, if the owners are interested in continuing to
build a huge “nest-egg”, then it makes solid sense to sell, and move to an area
where the annual appreciation will be higher.
Pre-Construction
Fort Lauderdale is experiencing a definite
re-birth in pre-construction. There are more than 16 luxurious hi-rise
condominium projects approved for construction or underway in Fort Lauderdale
alone. There is an abundance of new upscale town-home projects near downtown and
single-family home developments in the western suburbs. Construction continues
to boom in communities such as Lauderdale By The Sea, Hillsboro Beach, Deerfield
Beach, Hollywood , etc. You can expect the market for new construction to remain
hot. Townhome communities will continue to change the character of many
neighborhoods for the better. Downtown it means that the limited supply of
condos in luxury buildings already completed or under way will appreciate in
value rapidly as demand continues to grow. The public has also expressed concern
about how hi-rise luxury condos along the ocean are changing the character of
Fort Lauderdale Beach. Pompano Beach officials meantime are trying to enact
regulations to limit new oceanfront buildings to ten stories. Lauderdale By The
Sea just limited future new construction to a height of 45 feet. Combine these
sentiments with the fact that "The Galt" (Fort Lauderdale 's gold coast of
hi-rise beachfront condos) is pretty much built out and few good development
sites remain along Fort Lauderdale beach. What does it all mean? The anticipated
result is that beachfront condos will also continue to appreciate rapidly.
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