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Fort Lauderdale April Area Report
April 2023 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.
Fort Lauderdale Area Report for Single Family Homes:
Fort Lauderdale Area Report for Condominiums and Townhomes:
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.
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
SL 3535792
Fort Lauderdale Market Snapshot
Happy May Day!
Fort Lauderdale, FL has an active real estate market. Here are the April, 2023 Market Snapshot reports for both Single Family Homes and Condos.
Be sure to sign up for future blogs for monthly Fort Lauderdale updates or sign up for your specific desired Neighborhood News updates for the area of your choice at: https://annettedammeyer.com/neighborhood-news.
April 1st-30th Single Family Home Market Snapshot
April 1st-30th Condominium Market Snapshot
Stay on top of the local real estate market by signing up for future blogs by entering your email in subscribe link on my blog page! Contact me for any questions you may have or to discuss how I can help you with your real estate goals.
Annette Dammeyer, REALTOR
Coldwell Banker Realty
901 E Las Olas Blvd STE 101
Fort Lauderdale, FL 33301
808.747.3686
SL 3535792
Q: What is HOPA? A: Housing for Older Persons Act
The Fair Housing Act prohibits discrimination because of race, color, national origin, religion, sex, disability or familial status (families with children under the age of 18; pregnant women and people in the process of obtaining custody of children under 18, or persons with written permission of the parent or legal guardian). However, it contains a limited exemption from the familial status prohibitions for housing for older persons.
What Are the Fair Housing Act’s “Housing for Older Persons” Exemptions?
The Fair Housing Act specifically exempts three types of housing for older persons from liability for familial status discrimination. Such exempt housing facilities or communities can lawfully refuse to sell or rent dwellings to families with minor children only if they qualify for the exemption. In order to qualify for the “housing for older persons” exemption, a facility or community must comply with all the requirements of the exemption.
The Housing for Older Persons exemptions apply to the following housing:
- Provided under any state or federal program that the Secretary of HUD has determined to be specifically designed and operated to assist elderly persons (as defined in the state or federal program);
- Intended for, and solely occupied by persons 62 years of age or older; or
- Intended and operated for occupancy by persons 55 years of age or older.
The 55 or older exemption is the most common of the three.
How to Qualify for the “55 or Older” Exemption
In order to qualify for the “55 or older” housing exemption, a facility or community must satisfy each of the following requirements:
- At least 80 percent of the units must have at least one occupant who is 55 years of age or older; and
- The facility or community must publish and adhere to policies and procedures that demonstrate the intent to operate as “55 or older” housing; and
- The facility or community must comply with HUD’s regulatory requirements for age verification of residents.
The “housing for older persons” exemption does not protect such housing facilities or communities from liability for housing discrimination because of race, color, religion, sex, disability, or national origin.
File a Complaint
If you think your fair housing rights have been violated, you may file a complaint with HUD or contact your local FHEO office.
Additional Resources
Article and Information Courtesy of US Department of Housing and Urban DevelopmentÂ
If you are looking for a property that is approved for HOPA, contact me today. I can search for that perfect property to suit your needs.Â
Annette Dammeyer, REALTOR
Coldwell Banker Realty
901 E Las Olas Blvd STE 101
Fort Lauderdale, FL 33301
808.747.3686
SL 3535792
Fort Lauderdale Area Reports
March 2023 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.
Fort Lauderdale Area Report for Single Family Homes:
Fort Lauderdale Area Report for Condominiums and Townhomes:
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.
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
SL 3535792
Spring Home Projects
Take your home to the next level this spring with these home improvement projects that you can do to make your home even more inviting!
For more home tips or to get your home prepared for a Spring sale, contact me today!
Annette Dammeyer, REALTOR
Coldwell Banker Realty
808.747.3686
SL 3535792
Fort Lauderdale Real Estate Market Snapshot
How’s the Market?
We REALTORS get this question all the time. The market in SE Florida is slightly shifting, but this is one of the areas in the country where there will always be a demand. This is a booming market and history shows there will ALWAYS be buyers and sellers due to job relocations, changes in family dynamics, upscaling, downscaling, retirements and general quality of life moves.
Here are the Market Snapshots for the last 3 months of Single Family Homes and Condominium Properties:
Are you ready to buy or sell? Your time is NOW. Let’s get started!
Annette Dammeyer, REALTOR
Coldwell Banker Realty
808.747.3686
SL 3535792
Are Smart Appliances Right for Your Home?
Are Smart Appliances Right for Your Home?
Smart home appliances can make your life easier, and if you’re renovating your home, you’re likely wondering if they’re a worthwhile addition to your new-and-improved space. They have plenty of benefits: Everything from smart refrigerators, oven ranges, thermostats, monitoring systems, plugs, light bulbs, and even locks can offer you complete remote control over the things you use most. They allow you to set schedules, create routines, and program them to work while you’re away—and they’re typically user-friendly enough that just about anyone can effectively utilize them. However, not all smart home appliances were created equal, which is why you should investigate their pros and cons thoroughly before bringing one (or several) into your house.
https://youtube.com/shorts/13eWzPtNrzY?feature=share
Let’s discuss your home plans today! I am here to help.Â
Annette Dammeyer, REALTOR
Coldwell Banker Realty
808.747.3686
SL 3535792
Does Your Home Have 1 of the 3 Major Health Hazards?⚠️
If you plan on renovating a home, know the potential health hazards and how to remediate. Abatement firms can handle the safe testing and removal of such dangers when their presence is suspected. Here’s an overview of these three hazards.
If you are preparing your property for sale, contact me today. Let’s get started!
Annette Dammeyer, REALTOR
Coldwell Banker Realty
808.747.3686
SL 3535792
NEW CONDO LAW – Key Takeaways of SB 4-D
Senate Bill 4-D
What is Senate Bill SB 4-D?
SB 4-D is a law passed by the Florida Legislature during Special Session 2022D on
May 26, 2022. The law was the Legislature’s response to the collapse of the
Champlain Towers South condominium on June 24, 2021 in Surfside, FL.
*The Florida Senate will convene on March 7, 2023 for the 2023 Regular Session. There may be amendments to SB 4-D in the future.*Â
Some condominiums associations are now required to obtain 2 new reports by December 31, 2024.Â
Some key takeaways on the 2 required reports include:
- Milestone Inspection Report – Report about the adequacy of structural components of a condo building for life safety purposes.
- Requires condominium and cooperative association buildings that are three or more stories
in height to have a “milestone inspection” of the buildings’ structural integrity by an
architect or engineer when a building reaches:
â–Ş 30 years of age and every 10 years thereafter, or
â–Ş 25 years of age and every 10 years thereafter if the building is located within
three miles of a coastline. - Requires, if a milestone inspection is required and the building’s certificate of occupancy
was issued on or before July 1, 1992, the building’s initial milestone inspection to be
performed before December 31, 2024. - Requires that a phase one milestone inspection must commence within 180 days after an
association receives a written notice from the local enforcement agency. - Requires a phase two milestone inspection if there is evidence of “substantial structural
deterioration” as determined by a phase one inspection.
- Requires condominium and cooperative association buildings that are three or more stories
For the full text of SB 4-DÂ and additional information on the Milestone Inspection Report, visit the Florida Senate Website and click on bill text: https://flsenate.gov/Session/Bill/2022D/4D
2. Structural Integrity Reserve Study (SIRS). Study of reserve funds required for future major repairs and replacement of common areas of a condo.
- Requires condominium associations and cooperative associations to complete a structural
integrity reserve study every 10 years for each building in an association that is three stories
or higher in height. - Requires associations existing on or before July 1, 2022, that are controlled by non-developer unit owners to have a structural integrity reserve study completed by December 31, 2024 and then every 10 years thereafter.
- Defines “structural integrity reserve study” as a study of the reserve funds required for
future major repairs and replacement of the common elements based on a visual inspection
of the common elements. - The amount required to be funded is based on the amount listed in the study.
- Requires the structural integrity reserve study to include a visual inspection, state the
estimated remaining useful life, and the estimated replacement cost of the:
â–Ş roof
â–Ş load bearing walls or other primary structural members
â–Ş floor
â–Ş foundation
â–Ş fireproofing and fire protection systems
â–Ş electrical systems
â–Ş waterproofing and painting
â–Ş windows
â–Ş plumbing
â–Ş any item with a deferred maintenance or replacement cost that exceeds $10,000
that will negatively affect any of the foregoing items - Prohibits the waiving, reducing or using the reserves for another purpose for those items
required in the structural integrity reserve study.
For the full text of SB 4-DÂ and additional information on the Structural Integrity Reserve Study, visit the Florida Senate Website and click on bill text: https://flsenate.gov/Session/Bill/2022D/4D/?Tab=BillText
What does this mean for Buyers and Sellers of condominium properties that are required to obtain these reports?
Keep in mind, the reports are not due to be completed until 12/31/2024, so many condos have not had their reports completed. If a seller and buyer enter into a contract for the purchase of a condo:
The Florida Senate will convene on March 7, 2023 for the 2023 Regular Session. There may be amendments to SB 4-D in the future.Â
DISCLAIMER: The foregoing is a summary of the statutory changes and should not
be relied on as legal advice or a complete explanation of the changes. Every situation
is different, and you should seek qualified legal advice before making a decision.
Please feel free to contact me with your real estate needs and questions. I cannot give any legal advice and I would direct you to your legal representative and/or the Board of Directors at your condo association for further information regarding SB 4-D.Â
Annette Dammeyer, REALTOR
Coldwell Banker Realty
808.747.3686
SL 3535792
2023 Interior Design Trends!
Your Home is Your Sanctuary!
Walk in your door and feel the warmth with the trending designs for 2023…
Bold blues, stone slabs, enclosed kitchens, and more will be all the rage in interior design this year! Incorporating, matte wood finishes, natural materials, and warm browns will elevate your space. If you’ve been searching for the right opportunity to add more style, vigor and comfort to your space now is the time!
Annette Dammeyer, REALTOR
Coldwell Banker Realty
808.747.3686
SL 3535792
