Florida Real Estate Market Trends November 7, 2024

Fort Lauderdale October 2024 Area Report

Fort Lauderdale October 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 sent updated area market reports for Fort Lauderdale or another SE Florida city. We can discuss the market, current trends and how we can work together to accomplish your real estate goals.

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 353579

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

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

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

Home Sellers and Buyers August 5, 2024

Understanding the NAR Settlement: Key Take-a-ways

Understanding the NAR Settlement: What It Means for You as a Homebuyer or Seller

The recent National Association of Realtors (NAR) settlement has been making headlines, and as an experienced real estate professional, I want to ensure you’re well-informed about what this development means for you as a homebuyer or seller. The NAR settlement has sparked discussions about transparency, commission structures, and the overall dynamics of the real estate market. But what are the key facts, and how will they impact your real estate journey? Let’s delve into the essential details so you can navigate the market with confidence and clarity.

The settlement, stemming from allegations related to commission practices, has implications for how real estate transactions are conducted. Understanding these changes is crucial for making informed decisions, whether you’re buying your dream home or selling your current property. Let’s unpack the facts and help you stay ahead in the real estate market.

NAR has released fact sheets for both Homebuyers and Sellers.

HOMEBUYERS

 

 

 

 


SELLERS


Key Take-a-ways:

  • Compensation remains negotiable
  • Seller concessions to buyer and Seller offering compensation to the Buyer’s broker are still allowed
  • Buyer Compensation will no longer be allowed to be included anywhere on an MLS (Multiple Listing Service)
  • Buyers will be required to sign a written agreement before touring a home with a REALTOR®  (virtually or in-person)

Representation:

Homebuyers and Sellers HAVE OPTIONS. As an experienced and knowledgeable real estate professional, I am here to help you understand these changes and how they may affect your home buying or selling process.

Whether you’re a first-time homebuyer looking to understand the new compensation disclosures or a seasoned seller wanting to list your home with the most effective marketing strategy, it’s crucial to stay informed and make educated decisions. The real estate market is evolving, and having a trusted guide by your side can make all the difference.

I invite you to reach out to me with any questions about the NAR settlement and how it specifically impacts your real estate transaction. Together, we can navigate these changes and ensure you achieve your real estate goals with confidence and success. Let’s discuss your unique needs and start your real estate journey today. I am here to help with integrity, transparency and dedication.

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 3535792

Homeowner May 23, 2022

RealVitalize® Program for Home Sellers

RealVitalize® Program for Home Sellers

The RealVitalize® program provides home sellers with home improvement resources during
the listing period, with no upfront costs or interest fees. The Before and After changes can sell your property!

Non-structural projects can be completed with RealVitalize®. This includes renovations or just the final touch-up services that makes a home show-ready. Examples of frequently requested services include:

• Staging
• Landscaping
• Carpeting and Flooring
• Cleaning
• Moving and Storage*
• Painting
• Room Renovations
• Plumbing
• Electrical Repairs

* Up to 3 months of storage is available. Domestic moving in the United States is covered.
All transactions must be completed before closing.

Services that are not included with RealVitalize® are projects deemed structural. These are
remodels that affect the overall square footage or integrity of the home, including:

• Building new walls or tearing down existing walls
• Building an addition to a home
• Adding an entirely new roof
• Digging an in-ground pool


This exciting program can help you make small changes that make a big impact to your home’s selling price. Whether it’s a fresh coat of paint or renovating your kitchen, we can help you boost your sale price. There’s no hidden fees or interest—and you don’t have to pay until your property sells. Contact me today to learn more about the RealVitalize® program.


If you are ready to sell your home, but need to spruce it up first, please contact me and I will happily provide you with more information on RealVitalize®, Coldwell Banker’s fantastic program for sellers. I am here to help!

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