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 REOTemail@gmail.com

Always Advertising To Make Sure Your Property Gets the Limelight It Deserves

For a personal tour of one of these spectacular estates or to discuss listing your home for sale, please contact me at your convenience.

Jason A. Kapit, Esq. represents luxury homes for sale throughout Broward County.  With offices East (Las Olas) and West (Weston Town Center), he provides unparalleled service for high-end properties through online marketing, directed print media, and strategic PR campaigns.

You Can’t Argue With Solid Numbers

These numbers are very telling about our market share in the luxury residential space of South Florida’s real estate market.  Our ability to reach buyers WORLDWIDE through ingenious online and print media marketing has propelled us to the top of the list.  We are the most sought after real estate firm to assist luxury homeowners in the marketing, negotiation and ultimate sale of their residences.

For more information on how I can help, please contact me directly at 954.650.4443 or via email.

Landmark Ranch Estates’ newest offering

Spectacular 3.1-acre estate in exclusive Landmark Ranch Estates in Southwest Ranches, Florida features the best of everything.  Layout includes 6 bedrooms, 6 baths + 2 half baths.  The master boasts his & hers bathrooms, 2 walk-in closets plus gym with morning bar.  The home is elegantly designed with dramatic foyer and grand living room with fireplace.  The gourmet kitchen features top appliances & walk-in pantry.  A wonderful family room adjoins a “movie quality” theater and billiards/game room.

The exterior is complete with private security gate, circular drive with Porte-cochere, 4-car garage, walking path, playground, full basketball / sport court, free-form pool with slide, diving board and spa.  A covered pavilion with built in grill and bar completes the wonderful backyard.   Fully fenced property, impact windows and completely gated community offer weather and security protection.

For ONLINE tour, click image above.  By appointment only.

Jason A. Kapit, Esq. sets record in Parkland Golf & CC for 2011.

7240 Lemon Grass Drive, a spectacular “Almeria” model has just sold for $1,375,000.  The 5 bedroom home, just under 6,000 sq. ft. had phenomenal pool, lake and golf course views and ultimately sold on August 15th, 2011 after garnering multiple offers.  If you would like to learn more about the services we provide, call anytime (954.650.4443) or email to discuss listing your home for sale.

7240 Lemon Grass Drive, a spectacular “Almeria” model has just sold for $1,375,000.  The 5 bedroom home, just under 6,000 sq. ft. had phenomenal pool, lake and golf course views and ultimately sold on August 15th, 2011 after garnering multiple offers.

Appraisal Presented A Challenge

Obviously, with WCI declaring bankruptcy and the Chinese Drywall issues plaguing the community, there were a lot of depressed owners in the neighborhood.  Short sales and foreclosures didn’t help but as I have always stated, when you have a premium product, smart money will always step up and recognize an opportunity.  The appraisal in fact came in lower than the agreed upon sales price.  But, my ability to bring the parties together, both Buyer and seller, to recognize that the appraised value erred on the low side and reflected distressed sales, helped cultivate a compromise.

Translation – DEAL DONE and a great comparable value for Parkland Golf & Country Club as it rebounds from the troubled housing market!

Setting Sales Records Throughout Broward

I have been very fortunate this year to have established sales records in both Parkland and Southwest Ranches in an effort to revive the values of premium homes.  This new high sale in Parkland Golf & CC comes after setting a high mark in Parkland’s BBB Ranches where I sold 8950 NW 70th Court in April 2011 for $3,500,000.  Earlier this year in January 2011, I also set the high mark in Southwest Ranches after selling 16750 Stratford Court in Landmark Ranch Estates for $3,400,000.

High End Purchases Revving Up

It’s not a fluke to see the high-end moving.  The dollar is weak.  Smart money, foreign investors and anyone interested in holding a hard asset is looking at this now 6-year real estate market downturn as opportunistic.  It’s a recipe that makes sense for the foreseeable future as stock market/economic pressures will continue to drive real estate in a positive direction that will, at the very least, serve to sustain values.

Utilizing Jason A. Kapit, Esq. Services

If you would like to learn more about the services we provide, call anytime (954.650.4443) or email to discuss listing your home for sale.

The Best Of Weston Hills Country Club

Every so often, a home comes along that exudes perfection.  Nothing fuels the country club lifestyle like “The U.S. Open” and after such a masterful showing by Rory McIlroy, South Florida golfers are looking for that gem of a property.  This magnificent home in Weston Hills Country Club is just such a property.

2543 Sanctuary Drive is a semi-custom design by well known, local homebuilder, Delcrest Homes.  Delcrest built many of the magnificent Weston Hills homes and this offering reiterates  everything a golf course home should be.  The tastefully appointed 5,041 sq. ft. home offers 4 bedrooms & 3 full + 1 half-bath. Gourmet kitchen, dramatic living room with spectacular golf course views, expansive family room, game room & formal office complete an interior utilizing the best in hardwoods, stone surfaces & superior craftsmanship.

Upon arrival at Weston Hills Country Club, enjoy a serene drive between two Championship golf courses, previously host to the PGA Tour’s Honda Classic.  Once home, you are welcomed by lush foliage and pavered drive with 3-car garage.

Elegant patio spaces, gorgeous pool and built-in grill make for spectacular outdoor entertaining.  Add to that, commanding golf views of “The Players Course” 14th hole and you have the perfect backyard for memorable, fun-filled weekends.

This meticulously maintained home combines elegance, warmth, functionality & most of all comfort.

For a “Virtual Tour” click the photo above.  For a private tour, contact me via email or direct at 954.650.4443.

Parkland High-End Luxury Market Gets A Boost

The magnificent estate just sold April 11, 2011 for $3,500,000.  The home is the highest priced sale recorded in Parkland, FL for 2011 and the 4th highest sale in Broward County.  As a local agent specializing in luxury residential real estate, I have been able to market and sell many multi-million dollar properties during the past few months.

My affiliations with Christies Intl Real Estate, Berkshire Hathaway, Luxury Portfolio, Mayfair International and other far reaching networks give my marketing GLOBAL REACH.

The Importance of Marketing Beyond Your Local Network

While it is possible that the Buyer of your home might be local or a neighbor, chances are very slim.  The majority of Buyers with the means to purchase high-end luxury items are coming from abroad.  These discriminating buyers have cash, want hard assets and are looking for leverage based on recent currency valuations.  Luxury real estate in the United States, while depressed relative to valuation years ago, are in demand.

How Do Those Across The Pond Take Notice?

There are many ways to market to Buyers outside the country.  The best way is through specific online Internet media.  Simply put, you need to showcase properties at online sites where foreign buyers of luxury U.S. properties browse.  Jason A. Kapit, Esq. excels at online marketing.  “We don’t just market to market.  We try and envision where someone with the means to buy a multi-million dollar property starts their online process.  Many times, it revolves around specific content about the homes offering, location, etc.  Other times it  is relative to the Buyer’s place of employ and the tools that their respective HR departments are utilizing to help them relocate.  Quite simply, we have the tools, the affiliations, the worldwide contacts and ultimately the smarts to make these deals happen.”

Utilizing Jason A. Kapit, Esq. Services

If you want to learn more about the services we provide call anytime to discuss the possible listing of your magnificent home.

To see more pictures of this latest sale click here.

Hope to hear from you soon – Best, JK

Jason,

Darlene and I would like to express our gratitude for selling our South Florida property. When we inherited this property it had previously been on the market for 3 years with hardly any activity.

After listing the property with you, it was amazing the amount of activity that you were able to generate given the fact that we were relatively still at the same price that the previous broker had it at for the last 6 months of their listing.

Your experience as both a realtor and as an attorney was a winning combination for us since we live out of the area. Your negotiating skills were second to none. We trusted that your review of the documents would be complete and you certainly did not let us down.

I interviewed several agents in the South Florida marketplace prior to hiring you and to be honest; none of them even came close to your level of communication and responsiveness.  We would have no reservations recommending you and your team to any of our friends who were looking to sell their property.

Kudos to you and your team!   All the Best,   Lars & Darlene