Real Estate On Tap

Cooper City, FL

Momentum at the High-End

Marketing Luxury Real Estate

When it comes to residential real estate, all homes are not created equal.  Hence, one report cannot classify the sector as a whole.  For the last few years, the story had been one of redundancy.  The housing market is weak and without a housing market recovery, the overall economy will not improve.  And while most economists agree that there is indeed a correlation, the more important question to those in the trenches, is what part of the market is strong and poised for a comeback.

Selling High-End Homes Throughout Western Broward County

Having sold over $30 million of luxury properties in 2011 throughout Cooper City, Coral Springs, Davie, Parkland, Southwest Ranches and Weston, I know what is and isn’t selling.  There seems to be a lot of action across the board but even more so at the luxury level (properties priced above $1 million).  The reason?  That’s up for debate, but my thinking is outlined below.

The Attraction To Luxury Homes

[1] The homes are fairly priced and present exceptional value to the astute buyer.  When you consider what it might cost to build these homes, the sales price, quite often, represents a fraction of the cost.

[2] Most luxury home buyers pay cash, avoiding mortgage and lending issues that have served to derail a plethora of transactions over the past few years.

[3] A lack of options for buyers/investors dictates diversifying into the real estate/tangible asset sector.  If you are sitting idle with cash, there are not a lot of options, at least for those averse to high risk or non-existent returns.  Putting your money in the equity markets is a tough play considering the choppiness and unknown global concerns/fears.  As for putting it in the banks stateside, assuming you were comfortable with the bank’s stability, are you going to be happy with .5% return (or less) on your money?

[4] Timing is everything.  If you can afford to buy a luxury property for cash, you are way ahead of the game.  You can negotiate aggressively based on your ability to close quickly without delay or third party interference.  Furthermore, because mortgage rates are so low, if cash flow ever became an issue post-close, the ability to refinance or obtain an equity line at a very appealing rate would be possible and certainly not as taxing as obtaining a mortgage at the onset.

Jason A. Kapit, Esq. is a real estate agent with EWM Christies International.  He concentrates in the luxury home space with offices in Las Olas and Weston Town Center.  Contact him at 954.650.4443 or [email protected]

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Plaza St. Michel is Commercial Opportunity Waiting

Cooper City / Davie area

As we enter the 6th year of a waning real estate market, the grumblings have begun and smart money seems to be making its way back into the sector.  With money flowing back into the residential sector amidst a reeling stock market and uneasiness in and outside the US, land banking has also started up again.  Offered here, is a remarkable site, strategically positioned on well-trafficked Griffin Road.  With 600 feet of road frontage and two possible access roads, the land is poised to become a destination for the next great retail space, place of worship, civic center, etc.

SPECS:

4.12 ACRES / 3.45 NET USABLE / 600 FT OF ROAD FRONTAGE
PRIME GRIFFIN ROAD FRONTAGE IN DAVIE/COOPER CITY AREA / 6-LANE – 45,000 CARS PER DAY
FULLY APPROVED AND READY TO BUILD
possible uses – 50,000SF SHOPPING CENTER, RETAIL AND OFFICES.
SITE COULD ALSO BE GREAT FOR A SONNY’S CAR WASH AND CAR CARE CENTER. (sketches available)
PERFECT FOR PLACES OF WORSHIP.
LOCATION**LOCATION**LOCATION

For more information contact Jason A. Kapit, Esq. directly at 954-650-4443 or via email.

Tags: commercial property, cooper city, davie fl, griffin road, plaza st michel