Friday, February 28, 2014

Real Estate News Florida

First, Pierrette Arcand and Jean Feuillet, wish to thank all those who came to meet us during our presentations on real estate in Florida and Saint-Sauveur Quebec. With over sixty people at each session, we discussed the current market and buying opportunities, taxes ( a favorite topic) , and the different types of possible purchase today. It was a success again .

For those who could not come to see us, we will provide on YouTube and on this blog in the weeks following videos on the topics we talked about .

New rules to connect with FPL

FPL , Florida Power and Light provides electricity service in Florida and has over 4.6 million subscribers. Throughout the south of Florida , that is to say, the key metropolitan areas of Fort Lauderdale , West Palm Beach, Miami and surrounding areas , as well as Keys, is part of FPL power grid . This week , FPL has decided to change the rules of service. A summary of these changes:

The accommodation : We call first

The new residents can register online at or by calling (800 ) 226-3545 .
For connections on the same day , contact FPL before 14 hours ( 2:00 PM ) .
No need to be at home to connect the service, but it takes a few basic security preparations :
Close all circuits on panel
Turn off household electrical and electronic systems
Remove anything that might be on the stove or in the oven.
the move

FPL disconnects the electrical service in a day when the resident called to close his account.
Before closing electricity, fridge should be disconnected with the door open to prevent mold and odors.
The rate of crime in Miami: 14 safe places

The firm Esri , a provider of geographic data, compiled the crime rate in the region of Miami- Dade from the list of postal codes. It appears that the Miami-Dade County has the highest rate of all crime is south Florida .

The link below compiles 79 postcodes Miami with their index crime rate . This index ranges from 29 to 515 .

The methodology of this analysis establishes an index of "100" as the average , which means a place with less than 100 index is a safer place with more than 100 index.

As you read there are 14 postal codes with a total index of less than 100 crime in Miami -Dade . No comments on the crime rate in Miami !

The results of these compilations for the Fort Lauderdale and West Palm Beach are available on this link and several other statistics reported by the company Esri.

New condominium complex in Hollywood

The construction of new real estate properties in Florida is distributed . This new 15-storey complex will be located in downtown Hollywood at 2165 Van Buren Street . The first shovels of this project of $ 50 million began there a few weeks. And already there are reports that more than 60 units are sold .

The models for these condominiums measure 594 square feet ( 55 square meters) to 1,579 square feet ( 146 square meters) for a unit of 3 bedrooms. Prices range from $ 190,000 to $ 380,000 . This resort accepts pets and has a swimming pool , a recreation center with gym and a conference room.

More and sketches of buildings here on the Sun- Sentinel. If you are interested , we will be happy to provide more information on this project.

The importance of reading ( and understanding ) the Declarations of Condominiums

When you buy a condominium , it is known that in general, the co- owner is responsible for what he sees in the apartment, and that the union of co- owners, the Association is responsible for what is inside the walls of the condominium.

Thus, plumbing pipes , sewers, electrical conduits , etc. . which are within the walls would be the responsibility of the Association. What about pipes and conduits of a co- owner air conditioner.

"Help Me Howard" , a program of surveys and television station WSVN legal solutions , has released this week a program in which the co- owner was fighting ( figuratively ) against the Association did not want to pay $ 1.900 for replacement led his air conditioning unit that was broken inside the walls.

Howard Finkelstein, public defense attorney in Broward County ( Fort Lauderdale) , after consultation documents of the Declaration of Condominiums , discovered hidden on page 20 of this brick of 150 pages , the Association was responsible for all common ducts which are shared by all co- owners, such as water , sewer, etc. .

The air conditioner is meanwhile regarded as belonging to a single co- owner and ducts and pipes are not shared between the co- owners. So for this condominium complex , each co- owner is responsible for conduits within the walls of the air conditioner that cools their homes .

Which proves that he must be well informed before taking an action that could cost unnecessarily expensive . Video of the show is here on the site WSVN .

That's all for today. Thank you for reading and commenting on this article. Also click on the button "I like this " , it is always a pleasure .

Wednesday, February 26, 2014

Real Estate: now or never to invest in Florida

"The prices are very affordable at this time in the condo and town home to Québec investors ," says the vice president of business development for RBC Bank in Fort Lauderdale, Alain Forget.

The strong Canadian dollar and weak combined with an extensive inventory of condos and townhouses interest rates currently play for Canadian investors in our southern neighbors.

Prices vary according to the tastes and financial means for investors. "Let's say it can vary between $ 60,000 and $ 2,000,000 . This is according to the will of the people. But prices are still between 35-40 % cheaper than those observed during the housing bubble of 2006 and 2007 , "says Forget.

For example, Wednesday could reach into the area of ​​Lauderhill ( Broward ) on an existing two-bedroom condo with an area of ​​1,267 square feet overlooking a golf course and access to a swimming pool for less than U.S. $ 74 000 .

In the area of ​​Boynton Beach ( Palm Beach), an existing building of 1,377 square feet with two bedrooms and two bathrooms was on sale for less than $ 160,000 U.S. .

Active Market

It must be said that in recent years the real estate market in Florida is consolidating , while very large developers are back in force .

Canadian investors are most active in Florida, while new players have emerged , including the Russians and Brazilians.

Price stability

Price stability observed since two years also helped boost investment in major real estate companies associated with strong fund U.S. and foreign pension in South Florida .

Here we see how real estate projects ( condo towers ) then unthinkable there are still 18 months in the market.

This is particularly the case in Sunny Isles, in the north of Miami, where developers offer a Porsche car to any purchaser of a new condominium in a 57-story tower located on the seafront A robotic elevator allows Moreover park up to four cars directly to the floor of his condominium at prices ranging between 3 and U.S. $ 9 million.

Data compiled by the Florida Realtors reported a median sale price of U.S. $ 129,000 ( up 23 % year on year ) in the second quarter of 2013 in the market for condos and townhouses for counties Palm Beach, Broward and Miami- Dade .


Over 13,605 real estate sales in the second quarter in these counties , 10,603 were by cash transactions . Vendors say and have obtained an average of 95 % of original price displayed.

At the end of June , there were 19,112 and condominiums and townhomes available in the market in the counties of Palm Beach , Broward and Miami- Dade, down 14 % compared to the same period last year (22 175 units).

Homework Before Buying

The steps leading to the acquisition of a property in Florida are not the same as those in Quebec. Some direct and indirect costs can easily make up the bill . " In Florida, the cash is king ," says Alain Forget RBC Bank , which advises future owners to be prequalified before taking action . Having in hand the amount of money to buy a house , then a prospective buyer becomes very attractive to a seller. No wonder the majority of transactions take place in cash in the counties of Palm Beach, Broward and Miami- Dade .

There is also a tax on every mortgage contracted in Florida. Some buyers prefer therefore mortgage their home in Quebec to finance their purchase in the United States . For example, getting a mortgage in Florida can take up to 45 days ( this is the norm ) , while in Quebec , this time is about a week , said the vice president of consumer services, area Quebec, the Royal Bank, André Labbé.

Other legal and financial aspects should also be taken into account, including inheritance Canadian side where the heirs of a person who has a home in Florida may have to pay hefty fees when you sell . Anyway , Mr. Labbé recommends prospective homebuyers in Florida sit with their financial advisor to carefully study the tax laws related to this type of investment .

Tuesday, February 25, 2014

The real estate market in South Florida is booming

The real estate market in South Florida is booming in April.

The average price of an existing single family home in Miami -Dade County increased 23.7 percent to $ 225,000 in April from a year earlier, the Realtors Association of Miami. The average price of a condo in Miami -Dade rose 17.1 percent year on year, to $ 175,000 .

Sales of single family homes in Miami -Dade County increased 15.2 percent on year to 1.094 years . This increase in volume came despite a 6.9 percent drop in the number of houses available for sale in April, said the Association of Realtors Miami.

The number of closed transactions in existing condominiums in Miami -Dade County increased 18.7 percent over the previous year .

The number of condos that are for sale rose 1.1 percent in April from a year earlier , the Realtors of Miami said. However, the supply of existing condos in the Miami -Dade market was down 6.1 percent to 5.7 months in April from 6.1 months a year earlier , reflecting the greater number of sales.

"The steady increase in sales of homes and condos in Miami indicates that buyers and investors are moving quickly to acquire these properties , while supply levels remain historically low," said in a statement Natascha Tello , president of Miami Realtors in 2013. " After two years of record sales , along with a very tight supply , apparently not exceeding sales activity last year. However, it seems that real estate sales are on the rise in Miami again. "

Sales of houses and apartments in Broward County continued to show strong similar results.

The average price of an existing single family home in Broward rose 22 percent to $ 250,000 in April from a year earlier , according to Greater Fort Lauderdale Realtors.

The average price of condos and Broward rose 24 percent to $ 105,000 over the previous year , the group said .

Sales of single-family homes in April in Broward rose 11.1 percent from a year earlier to 1,316 closed transactions , despite a fall of 23.2 percent in listed for sale. Sales of condos and homes rose 5.8 percent in April to 1,664 closed transactions over the previous year .

" As the average housing prices continue to rise, existing homeowners are more comfortable with putting to list their homes and receive the sale price or an amount close ," he said in a statement Charles Bonfiglio , president of Greater Fort Lauderdale Realtors.

The existing single-family houses selling in Broward received 94.8 percent of the sales price in April, up from 91.6 percent a year earlier. Owners of homes and condos got 94.4 percent of the sales price in April, up from 91.6 percent a year ago , the Realtors group said .