Florida Real Estate Market Trends November 1, 2024

SE Florida Market Snapshot

Market Trends in SE Florida

It is November 1st already! The real estate market is ever-evolving. I welcome any discussions you may want to have regarding your neighborhood or some of the headlines that have affected the real estate market. Please reach out to chat, even if you are not ready to buy or sell, but just would like to discuss current trends and updates. Here are the Market Snapshots reflecting the last month for the following areas:

  • Fort Lauderdale
  • Wilton Manors
  • Hollywood
  • Dania Beach
  • Hallandale Beach

These take into account all property types (Single Family Homes/Condos/Townhomes).



Contact me today to discuss the changes in real estate including the NAR Settlement, Buyer and Seller options or market trends. Please call or email me if you would like to be automatically sent detailed market reports for Fort Lauderdale, another SE Florida city, or your neighborhood. I am here to help.

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR®, ABR®, AHWD®

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 3535792

Home BuyersHome Sellers and BuyersHomeowner October 24, 2024

Hidden Dangers and Unseen Damage? Camera Pipe Inspections are Vital!

The Importance of Camera Pipe Inspections: What Every Homebuyer and Seller Should Know

When it comes to buying or selling a home, most people think of inspections related to the roof, foundation, or electrical systems. However, there’s one crucial area that often gets overlooked: the pipes beneath the home.

Camera Pipe Inspection

A camera inspection of the plumbing system is a vital step in ensuring the overall health and longevity of the property’s infrastructure. Whether you’re purchasing your dream home or selling an older property, understanding the condition of the pipes can save you from future headaches and costly repairs.

What is a Camera Pipe Inspection?

A camera pipe inspection involves using a small, high-definition camera attached to a flexible rod that is fed through the plumbing system. This camera provides a real-time view of the inside of the pipes, allowing inspectors to identify issues that are not visible to the naked eye. This non-invasive method can assess the state of both sewer and water lines without the need for extensive digging or wall removals.

Why a Camera Inspection is Critical

  1. Unseen Damage and Blockages
    Pipes can deteriorate or become clogged over time due to various factors, such as tree roots, soil movement, or wear and tear from everyday use. The camera inspection can reveal blockages, cracks, leaks, or even collapses in the pipes. Early detection of these issues can prevent more serious problems down the road, such as sewage backups or flooding.
  2. Galvanized Pipes: A Hidden Danger
    Homes built before the 1960s may have galvanized pipes, which were once a common choice for plumbing. These pipes are made of iron and coated in zinc to prevent rusting. However, over time, the zinc layer can erode, causing the pipes to corrode and rust from the inside out. This corrosion can lead to reduced water pressure, leaks, and even contamination of the water supply with rust particles. A camera inspection will identify the presence and condition of galvanized pipes so that homeowners can plan for repairs or replacement.
  3. Polybutylene Pipes: A Known Hazard
    If your home was constructed between the late 1970s and mid-1990s, there’s a chance it has polybutylene (poly) pipes. These pipes were once considered a breakthrough due to their low cost and ease of installation. However, poly pipes have been found to be highly prone to deterioration and leaks, especially when exposed to chlorine and other oxidants commonly found in public water supplies. A camera inspection can quickly reveal the presence of poly pipes and any degradation that may have occurred, helping homeowners decide whether immediate pipe replacement is necessary.
  4. Identifying Pipe Materials
    In addition to detecting issues, camera inspections help identify the types of materials used in the plumbing system. Whether it’s PVC, copper, cast iron, or older materials like clay or lead, knowing the material composition of your pipes can give insight into their expected lifespan and the potential risks involved. For example, lead pipes pose a significant health hazard and should be replaced, while cast iron pipes, though durable, can rust over time.
  5. Prevent Expensive Surprises
    Whether you’re buying or selling, a camera inspection provides peace of mind by ensuring that the plumbing system is in good working order. For buyers, it can prevent unexpected, costly repairs after closing. For sellers, it helps avoid negotiation hurdles or requests for repair credits. Plus, having a clean bill of health on your plumbing system can be a valuable selling point.

Common Issues Found During Pipe Inspections

  • Tree Root Intrusion: Roots naturally grow toward sources of water, which makes pipes an attractive target. They can infiltrate through small cracks or joints, causing blockages and damage over time.
  • Pipe Corrosion: Metal pipes, especially galvanized or cast iron, can corrode over time. Corrosion weakens the pipe walls, leading to leaks and structural damage.
  • Misaligned or Sagging Pipes: As the ground shifts or settles, pipes may shift or sag, leading to poor drainage and potential for blockages.
  • Clogs and Buildup: Over time, debris, grease, and mineral deposits can build up inside the pipes, reducing water flow and leading to clogs. A camera inspection can help pinpoint where the buildup is most severe.

When Should You Get a Pipe Inspection?

While most homeowners wait until they experience plumbing problems to inspect their pipes, it’s a good idea to be proactive. Here are a few situations where scheduling a camera inspection is highly recommended:

  • Before purchasing an older home (especially one with galvanized or polybutylene pipes)
  • Before selling your home to identify any issues that might need repair before listing
  • If you notice slow drainage, frequent clogs, or low water pressure
  • After a significant outdoor landscaping project that may have affected underground pipes

The Bottom Line

A camera inspection of your home’s pipes is a small investment that can provide invaluable insight into the health of your plumbing system. It helps homeowners and buyers alike avoid unpleasant surprises, ensures the longevity of the home’s infrastructure, and can even boost the marketability of a property. Whether you’re dealing with older galvanized pipes, the infamous polybutylene piping, or just want peace of mind, this inspection is a must-have for any savvy homeowner.

Don’t wait for a major plumbing disaster to find out what’s lurking beneath your home. Schedule a camera pipe inspection today!


With over a decade of experience as a real estate professional, I can provide insights and resources to help you sell or buy your property. Contact me today, I am here to help.

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579

Florida Real Estate Market Trends October 11, 2024

Fort Lauderdale September 2024 Area Report

Fort Lauderdale September 2024 real estate statistics have been released.

Fort Lauderdale Area Reports

Single Family Homes

Condominium & Townhouses


Commonly asked questions while reviewing the reports:

What is the difference between “Median Sales Price” and “Average Sales Price”?

Median Sales Price | Price of the “”middle”” property sold -an equal number of sales were above and below this price.

Average Sales Price | Average sales price for all properties sold.

What does “Absorption Rate” mean?

Absorption Rate | Looks at the past year’s monthly supply of inventory. In a normal market there should be a 6 month supply. The higher the rate above 6 the more aggressive a seller has to be with the competition; price and having a picture perfect property.


Single Family Home Area Report listed first, Condo/Townhouses listed second:


Please contact me if you would like to be automatically sent updated area market reports for Fort Lauderdale or another SE Florida city. We can discuss the market, current trends and how I can help you.

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579

Home Sellers and Buyers September 25, 2024

New Florida Flood Disclosure Requirements

New Florida Flood Disclosure Requirements

This new flood disclosure requirement starts October 1, 2024. This will help home sellers with transparency in their disclosures and it will allow residential home buyers to have crucial information prior to executing a sales contract. This disclosure must be done at or before the time of a contract being executed.
You can read the article by Maria Marchante below:

New Florida Flood Disclosure Requirements Coming

Florida sellers must disclose flood damage history to buyers before contract signing to provide transparency in real estate transactions.

ORLANDO, Fla. – Starting October 1, 2024, there is a new flood disclosure requirement in Florida. Florida Statute 689.302 requires a seller to complete and provide a flood disclosure to a buyer of residential real property. This disclosure must be done at or before the time of a contract being executed.

Sellers will need to disclose:

  1. Whether they have filed a claim with their insurance provider relating to flood damage on the property.
  2. Whether they have received federal assistance for flood damage to the property.

For purposes of the new disclosure, “flooding” is defined as a general or temporary condition of partial or complete inundation of the property caused by any of the following:

  • The overflow of inland or tidal waters
  • The unusual and rapid accumulation of runoff or surface waters from any established water source
  • Sustained periods of standing water resulting from rainfall. Some examples of an established water source can be a river, a stream, or a drainage ditch.

Currently, Florida courts are split as to whether the tendency to flood is “readily observable.” This matters because if the tendency to flood is readily observable, then there is not a requirement this information be disclosed to a buyer of residential real property. If a buyer is not familiar with an area, they may have no clue the property tends to flood. This can be especially true when the flooding is seasonal.

The Federal Emergency Management Agency (FEMA) has the authority to designate properties as a “severe repetitive loss property.” This means that the home has flooded twice, with damage totaling the value of the property OR which have flooded four times with at least $5,000 of damage each time. There are roughly 45,000 of these properties in the United States, and about 3,100 are in Florida.

FEMA’s policy is to share past flood history with ONLY a property owner who holds an active flood insurance policy. This means that prospective buyers are unable to get this information prior to closing on the home.

Additionally, homeowners’ insurance policies tend to not cover damage resulting from floods. Buyers should always be encouraged to discuss their need to purchase separate flood insurance coverage with their insurance agent.

This new disclosure requirement will allow buyers to have crucial information prior to executing a sales contract.

Maria Marchante is Associate General Counsel

Note: Information deemed accurate on date of publication

© 2024 Florida Realtors®


Please reach out to me for any questions. I can provide you a copy of the disclosure if you would like to review it. I am here to help!

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579

Florida Real Estate Market TrendsHome Sellers and Buyers September 10, 2024

Fort Lauderdale August 2024 Area Report

Fort Lauderdale August 2024 real estate statistics have been released.

Fort Lauderdale Area Reports

Single Family Homes

Condominium & Townhouses


Commonly asked questions while reviewing the reports:

What is the difference between “Median Sales Price” and “Average Sales Price”?

Median Sales Price | Price of the “”middle”” property sold -an equal number of sales were above and below this price.

Average Sales Price | Average sales price for all properties sold.

What does “Absorption Rate” mean?

Absorption Rate | Looks at the past year’s monthly supply of inventory. In a normal market there should be a 6 month supply. The higher the rate above 6 the more aggressive a seller has to be with the competition; price and having a picture perfect property.


Single Family Home Area Report listed first, Condo/Townhouses listed second:


Please contact me if you would like to be automatically sent updated area market reports for Fort Lauderdale or another SE Florida city. I am here to help.

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579

Florida Real Estate Market Trends September 1, 2024

SE Florida Market Snapshot

Market Trends in SE Florida

It is Labor Day Weekend already! The real estate market is ever-evolving. I welcome any discussions you may want to have regarding your neighborhood or some of the headlines that have affected the real estate market. Please reach out to chat, even if you are not ready to buy or sell, but just would like to discuss current trends and updates. Here are the Market Snapshots reflecting the last month for the following areas:

  • Fort Lauderdale
  • Wilton Manors
  • Hollywood
  • Dania Beach
  • Hallandale Beach

These take into account all property types (Single Family Homes/Condos/Townhomes).



Contact me today to discuss the changes in real estate including the NAR Settlement, Buyer and Seller Options or market trends. Also, call or email me if you would like to be automatically sent updated area Market Snapshots for Fort Lauderdale or another SE Florida city. I am here to help.

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR®, ABR®, AHWD®

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 3535792

Home Sellers and BuyersHomeowner August 27, 2024

17 Things to Never, Ever, EVER Do to Your House

17 Things to Never, Ever, EVER Do to Your House

Keep the vintage wallpaper, but upgrade that time- and money-draining retro thermostat to programmable.

common easy home mistakes old thermostat on peach and floral wallpaper
Image: Joe Clark/Getty

 

What may seem like a good idea often isn’t.


Here are 17 common mistakes new homeowners may make:

#1 Getting Rid of Your Only Tub

 

A white cast iron tub in a white bathroom

If resale value is important to you, don’t get rid of your only bathtub, no matter how dreamy that walk-in shower looks.

It will make it harder to sell when the time comes. You’ll flat-out lose buyers who love a good soak or need a tub to bathe little ones (both human and four-legged).

#2 Leaving Cabinet Doors on While Painting

Painting your kitchen cabinets pays off big at resale — it’s a small investment for a big wow. But the job’s time-consuming, so it’s tempting to leave the doors on.

Resist. At all costs.

Because no matter how hard you try, it’s not going to look good. Even the pros don’t do it. That should tell you something.

#3 Putting Starchy Food Down the Disposal

Today’s garbage disposals can handle more challenging foods than earlier models, but starchy comestibles like potatoes, rice, and oatmeal still stump them.

Fun fact: Every Halloween, plumbers see an increase in calls because people are dumping pumpkin guts into the disposal.

Starchy foods clump when they hit water, clogging disposals and pipes. Instead, put them in the garbage can or, even better, your compost pile.

#4 Planting a Tree Close to Your House

 

Large tree planted too close to a house
Image: Blend/Offset

That young sapling just a few feet from your door seems so harmless. Until it grows up.

In addition to the risk of falling limbs, tree roots from mature trees can weaken your home’s foundation and clog plumbing and sewer pipes.

Plant medium and large trees at least 30 to 50 feet from the house. Put small trees (30 feet tall or less) at least eight, preferably 10, feet away.

#5 Flushing ‘Flushable’ Wipes

Sewer systems are facing a growing menace: flushable wipes. Despite the name, most don’t disintegrate, even after 10 minutes (compared to a few seconds for toilet paper).

Until a truly flushable wipe exists, don’t flush them — or anything nonorganic, for that matter. Stick with good ol’ TP instead.

#6 Covering Wallpaper With Water-based Paint

You don’t have to remove that dated wallpaper — simply paint over it. Just don’t do it with water-based paint. It can reactivate wallpaper glue and cause the paper to peel. Instead, use oil-based primer, let it dry completely, then apply latex paint over it. Oil-based primer has long been the industry standard and works well with oil and latex paints.

#7 Painting Exterior Brick

 

common easy home mistakes photograph of adjoining brick walls painted red and bluish-green colors
Image: John C Magee/Getty

Brick needs to breathe. Paint chokes it.

Paint can destroy the brick and mortar and even cause the foundation to crumble. Talk about a hidden cost!

If you’re itching for a new exterior look, try new shutters, paint the front door, or update your landscaping. Those moves can scratch your itch and boost your curb appeal. If you just can’t live with your brick color, try brick stain, which bonds with the brick, allowing it to breathe.

#8 Skipping the Last Mow Before Winter

Tempting as it is to skip that last mow before winter, leaving the lawn too tall in cold months gives mice and other rodents good cover from predators, like hawks. Which means they’ve got safe passage to work their way into your warm and cozy home for the winter. Plus, keeping grass short keeps it healthier.

#9 Letting Ceiling Fans Run Forever

Ceiling fans don’t decrease the temperature in a room; they increase how quickly your sweat evaporates, making you feel cooler.

Since running ceiling fans is only beneficial when people are in the rooms to enjoy their breeze, save money by turning them off when you’re out.

#10 Tearing Out Original Architectural Features

 

common easy home mistakes closeup of stained glass windows with red and yellow colors
Image: cerro_photography/Getty

Custom millwork, tin ceiling tiles, and mid-century modern brick give your home its character, so keep them if you’re remodeling (assuming they’re not in awful condition). Buyers appreciate these one-of-a-kind details, and preserving them sets your home apart. They can put your house at the top of house hunters’ lists when it’s time to sell.

#11 Changing Your Mailbox Without Checking With Your HOA

Or making any other change to your home’s exterior, such as replacing your front steps, adding shutters, etc. Homeowners associations work to keep neighborhood elements maintained and consistent in an effort to protect everyone’s home value.

That often includes seemingly small details, so let your HOA know of your upgrade plans. Otherwise, you could risk a citation or fine. Or worse, be told to undo it.

#12 Leaving Hoses Connected in Winter

When you retire your lawnmower each fall, disconnect and store hoses, too. Leaving them attached during cold weather can trap water in the pipes, causing them (and possibly the faucets) to freeze. BTW, leaving a hose connected in winter also ruins the hose.

#13 Keeping an Old-Fashioned Thermostat

 

Vintage wallpaper with outdated thermostat in a home

Maintaining a cozy home temp while you’re at work or sleeping wastes money and energy. If your house came with a nonprogrammable thermostat, you’ll have to manually change it multiple times a day to avoid all that waste. (Like you need another task on the way out the door.)

Install a programmable thermostat, stat. Spending about $100-200 for a single smart thermostat sounds pricey, but most homes can recoup that investment from energy savings in less than two years. Plus, many energy companies offer rebates that greatly reduce the price of a thermostat. Some may even provide one for free.

#14 Putting a Brick in Your Toilet Tank

To decrease water use and save money, many people put bricks in their older, high-water-use toilets. But bricks crumble in water and can damage or clog pipes.

Replace the toilet (average cost is $615 including installation, according to Fixr) or fill a half-gallon milk jug with sand and drop it in the tank instead (saving about half a gallon per flush).

#15 Watering Grass at Night

It may seem smart to water in the evening — especially if you have a sprinkler system — because electrical rates are lower. But without sun to evaporate it, water is more likely to cling to grass at night, promoting fungus. Instead, water in the morning when the air is cool, the sun is arriving, and there’s less wind than at midday.

#16 Cleaning Windows on a Sunny Day

Doesn’t a warm, sunny day seem like the perfect time to wash windows? Counter-intuitively, it’s the worst, because the sun dries windows too quickly and causes smears. Instead, save this chore for a cloudy day.

#17 Pouring Bleach or Drain Cleaner Down Pipes

Bleach seems like a great agent for keeping pipes unclogged and smelling fresh — and drain cleaner is literally for pipes, right?

Unfortunately, bleach can react with substances in your pipes and cause more clogs than it prevents. Even drain cleaner is rough on pipes — and both are environmentally awful. (Plus, as little as a teaspoon of drain cleaner can destroy a septic field.)

Instead, use a pipe snake (also known as an auger) to keep pipes running smoothly.


Article credit: Kelley Walters, a Southern writer and editor. She focuses on interior design and home improvement at outlets from HGTV to Paintzen. She lives in Italy a month every year, drinking Negronis and writing in internet cafes. 

Keep your home in great shape in case you decide to sell! If you decide the time is now, call me!

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579

Florida Real Estate Market TrendsHome Sellers and Buyers August 24, 2024

PSA: Safety in the Real Estate Community

Why do we ask you for your information?

As a real estate professional, I was sad to hear of another brutal murder of an agent in Ontario this month.
Real estate agents take safety measures before meeting clients to protect themselves from potential risks, such as encountering dangerous individuals or being placed in vulnerable situations. Given that agents often meet with strangers in unfamiliar settings, ensuring their safety is paramount.
*Note, this information in the following list may be requested prior to meeting to discuss client needs and to sign the Buyer Broker Agreement that is required prior to presenting and showing property.

What an Agent May Ask For and Why:

Client Identification (e.g., driver’s license or ID):
Why: To verify the client’s identity and ensure they are who they claim to be, reducing the risk of meeting with someone who has malicious intentions.
Pre-qualification Letter or Proof of Funds:
Why: To confirm that the client is serious about purchasing a property and not using the meeting as a ruse for criminal activity.
Initial Meeting in a Public Place:
Why: To gauge the client’s intentions and establish a rapport in a safe, neutral environment before moving to a more private or secluded location.
Appointment Confirmation Through Office or Brokerage:
Why: To create a record of the meeting and ensure that colleagues are aware of the agent’s whereabouts, providing an extra layer of security.
Emergency Contact Information:
Why: To have a point of contact in case of an emergency, ensuring that someone is alerted if the agent doesn’t check in as planned.
Please do not get angry at real estate professionals who ask for ID or other information before meeting with you. I personally always try to accommodate my clients and make it as easy of a process as possible, but I also want to get home safely every day. That means vetting a new client and taking precautions. Thank you.

Thank you for taking the time to read this. I welcome any questions or feedback you have. I am here to help.

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579

Home Sellers and Buyers August 12, 2024

6 Ways to Increase Your Home’s Value

Boost Your Home’s Value with These 6 Tips!

Clean & Declutter
• Enhance Curb Appeal
• Fresh Coat of Paint
• Kitchen Updates
• Energy Efficiency • Home Staging

When selling homes, small changes can make a real impact. Through our RealVitalize® program, you can access Angi’s network of trusted professionals which offers more than 500 types of services nationwide. With no fees or interest, sellers can enhance their home without incurring any upfront costs.*

Contact me today to learn more about this amazing program!


CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579

Florida Real Estate Market Trends August 11, 2024

Fort Lauderdale July 2024 Area Report

Fort Lauderdale July 2024 real estate statistics have been released.

Fort Lauderdale Area Reports

Single Family Homes

Condominium & Townhouses


Commonly asked questions while reviewing the reports:

What is the difference between “Median Sales Price” and “Average Sales Price”?

Median Sales Price | Price of the “”middle”” property sold -an equal number of sales were above and below this price.

Average Sales Price | Average sales price for all properties sold.

What does “Absorption Rate” mean?

Absorption Rate | Looks at the past year’s monthly supply of inventory. In a normal market there should be a 6 month supply. The higher the rate above 6 the more aggressive a seller has to be with the competition; price and having a picture perfect property.


Single Family Home Area Report listed first, Condo/Townhouses listed second:


Please contact me if you would like to be automatically sent updated area market reports for Fort Lauderdale or another SE Florida city. I am here to help.

CONTACT ANNETTE

Let’s start working together!

Annette Dammeyer, REALTOR

Coldwell Banker Realty

901 E Las Olas Blvd STE 101, Fort Lauderdale, FL 33301

808.747.3686

Annette.Dammeyer@cbrealty.com

www.AnnetteDammeyer.com

SL 353579