COVID SoFlo Market
July 29, 2020
SoFlo Luxury Real Estate News! The daily bombardment of news, increased social distancing, and for many a sense of isolation, has prompted to start this blog for those following the South Florida real estate market.
I can only comment accurately on the luxury market in Broward and wish to keep my customers, both Buyers and Sellers and those considering investing, updated on the real estate activity here in South Florida.
This morning as I jogged the palm tree shaded sidewalks of my community, I had a heightened sense of awareness of the incredible amount of brand-new construction, dumpsters in driveways, overall home improvement and investment in our little oceanside community. This gave me a chance to reflect on the past week and the true real estate activity that has been happening at Florida Luxurious Properties.
Although our brokerage operations have changed in the last couple of weeks, a total of 6 closings have taken place amounting to over $6 Million in sales production. There is also business pending, as attorneys and brokers carefully manage transactions. Although we are meeting with our Associates virtually, all of us are working daily to keep real estate activity moving forward. Real Estate is an important component of our economy and cannot be brought to a standstill, despite logistical challenges. Attitudes remain positive with a goal of working together to achieve results for our customers!
Since Friday I have personally negotiated two offers for local Buyers, one for a condominium (we represent the Seller) and the other for a deep-water residence (we represent the Buyer). Both offers approached one third off the list price. Although it is not easy to present these offers, it certainly beats the alternative of zero activity! Sellers are understandably disappointed, but I believe it is important to recognize that Buyers are making offers based on their comfort level at this time of uncertainty. In turn, I can only advise Sellers to counter at a level at which they are comfortable, with the understanding that there are few Buyers who are risk tolerant enough to make an offer at this time! This past weekend I also enjoyed working virtually with Buyers from Tennessee and Texas. The demand for luxury rentals is currently high, as some City dwellers are choosing the quieter beach-side suburbs of Fort Lauderdale.
The brokerage inventory is being presented “virtually” via Facebook and Instagram with ongoing email campaigns for “Virtual Open Houses” and social media posting. The incredible South Florida lifestyle is depicted by lifestyle images of the beautiful waterways and beaches that are still being enjoyed – even at a distance.
This is a challenging time for most of us as we learn to work and socialize remotely. On Friday my husband and I played a virtual card game with friends in Boca Raton and Atlanta, it was fun and brightened the mood for all of us! I also experienced my first Instacart delivery and have spent more time enjoying my own personal residence than in my entire six years of ownership. I find it easier to smile with the sun on my back and watching people and communities pull together is a positive sign.
We are adapting to these circumstances as necessary and I look forward to keeping you updated on the SoFlo real estate scene over the coming weeks. I am the Broker/Owner of Florida Luxurious Properties, a member of the Forbes Real Estate Council and proud Affiliate of LuxuryRealEstate.com. I would be delighted to answer any questions and welcome comments to 954 328 3665 or Julie@FloridaLuxurious.com.