Private Island, Private

Good evening, Friends, Happy Election Day! I know you must be thinking – “what’s this gal doing sending out a newsletter today?” Well, it could also be “Relocation Day” – whether you’re moving states or out of the US, depending on your preferences and the results (kidding, kidding)! Whether you’re buying or selling in Florida, or looking to get out of Dodge with a move to The Bahamas, I’ve got you covered! 🙃 👱‍♀️🏝️ In all seriousness, no matter the outcome and your preferences, I pray that we always come together as a country and celebrate our great nation and local communities. Meanwhile, as the numbers roll in throughout the evening, enjoy some great real estate insights from around South Florida and The Bahamas! In this edition of This Week With TPH, you can expect: - There’s private – and then there’s private island, private. Learn about this incredible new construction opportunity in paradise – The Residences at Montage Cay. - Check out my REIMAGINE Thought of the Week, where I share an important belief about land-use policy, single-family home pricing, and opportunity (keep scrolling; don’t miss this). - I’m launching a video companion to this newsletter where you can see me in action working hard for you! This past week was packed with highlights, including the Fort Lauderdale International Boat Show, a featured opportunity preview, and more. Also, I came across this quote and wanted to share some of its wisdom-filled inspiration with you that also ties into my final thought of the newsletter below: “Opportunity dances with those already on the dance floor.”      – H Jackson Brown, Jr. Make it a great rest of your week! With Gratitude, Jennie Watch This Week With TPH From The Islands The Residences at Montage Cay As many of you know, part of my business is to present opportunities I passionately believe in within the tropics of The Bahamas.* I am so proud to share a quick preview with you on one of the most incredible new construction projects under development now – The Residences at Montage Cay within The Abacos, Bahamas. There's way more to come! Learn a little bit about this one-of-a-kind project by clicking on the image above. Values Market Report Q3 2024 Broward, Miami-Dade, Palm Beach All month we’ll be releasing a tri-county, South Florida Q3 Values market report for the $1M+ Single-Family Home and Condo & Townhouse property types. Today, we’re starting with Broward County and Fort Lauderdale! Check back on my blog and social channels as we release new markets in the report throughout November (Coral Gables, Coconut Grove, Sea Ranch Lakes, Palm Beach, and more are on deck). We’ll return to our Values: Key Takeaways market report video series next month, focusing on activity between the quarters (and I really appreciate the kind feedback on those video reports!). By understanding past data, it helps us inform the present and future – all with the goal of helping you make better real estate decisions. Click the image above to read the report and enjoy the insights! On The Water FLIBS and Winter Yachting The Fort Lauderdale International Boat Show (FLIBS) was beautiful this year – it’s so incredible to see how the show has grown with the Superyacht Village at Pier Sixty-Six and the new Las Olas Marina! Check out some of the highlights in the This Week With TPH video at the top, and thank you to all of the local businesses and people that showed me such kind hospitality! Also, winter yachting season in the Caribbean is upon us and there’s still time to book your dream vacation! I am working with Saint, an 88’ Sirena that is a pure masterpiece on the water. Connect with me to learn about opportunities for bookings while she’s in the Lower Caribbean, The Bahamas, and back in Miami later this year and early 2025. Book with me as your advocate to work out the best deal possible. View the video below to learn why Saint is so special. Featured Opportunity 1335 Seminole Dr, Fort Lauderdale I absolutely believe this is one of the best priced deals for an ocean accessible waterfront estate in east Fort Lauderdale. Currently asking $5.995M ($904 / SF), this fully renovated home enjoys deep water access, has a generous 9,900 SF lot, and an incredible view of Hugh Taylor Birch State Park. Priced to sell, this is an opportunity that won’t last. I previewed the property last week (see it in my video above), and was blown away by the finishes, room proportions, and one of the best primary dressing rooms you’ll find on the market today! Click on the photo above to learn more about the listing, reach out to hear why I think this is priced to sell, and I’d be happy to setup a showing with you as soon as possible. Also – if you want to hear about the latest South Florida and Bahamas opportunities, learn about the latest in the market, and hear my perspectives – be sure to check out my Opportunities presentations and let’s schedule a time to get together! Catch Me at Conrad A Piece of Beachfront Bliss Live the Conrad life and take the hassle out of ownership. I have some unique perspectives on what makes the Conrad Fort Lauderdale stand out against its comparable set – notably the nearby Four Seasons and Ritz Carlton. Schedule a meeting with me, and I’ll be happy to explain the benefits of ownership for all three properties. It’s time to live like you’re on vacation! Click the image above to view the latest Conrad Fort Lauderdale inventory. What's Caught My Eye Around Town & In The News Sea Watch On The Ocean is one of the best beachfront dining experiences you’ll find in South Florida (it’s worth driving to from anywhere in the tri-county area). Located on the north end of Fort Lauderdale Beach, it’s one of my favorites – and be sure to check out their Fall specials! America is Primed for a Home-Renovation Resurgence and I couldn’t agree more! Get a head start on getting started! Homebuyers Waiting for Results Could Finally Come Off the Sidelines. It’s no secret the market has been cool (see our market report nearby), and I agree we hear a lot of folks saying: “after the election.” Mortgage Rates Jump for Fifth Week. Expect to see strong movement in either direction after today’s results. Capital Markets Overview REIMAGINE Thought of the Week Today I want to share my thoughts on land-use policy and South Florida’s single-family home pricing. Without density adjustments that keep up with demand, there will just be this systemic constraint of inventory (thanks to our beautiful Everglades and ocean) – and, economically speaking, the biggest real estate beneficiary will be single-family homes. This is no secret here in South Florida, but I’d like to poke a hole in the thought we are in a bubble just because we are at the tail end of the greatest wealth migration in recent Florida history. Some politicians talk a big game on affordable housing but lack the political courage to actually change zoning laws out of the fear of a minority of vocal neighbors and losing the next election. We might see up and down cycles, like we are now in most South Florida sub-markets, but with the current land-use laws in place it only reinforces my belief that over longer term horizons, there's no better South Florida real estate investment than luxury single-family homes (and really any SFH that's well located in transitional neighborhoods, a number of which come to mind). The degree of upside can differ substantially by city and neighborhood, but as a sector, that's where I am and would be putting my money. Let me help you find the right investment property for a renovation or rebuild opportunity. The combination of buying right, a steady hold horizon,  mixed with current land-use laws, and proactively creating value thru improvements can be an incredible way to build equity. And that's how you REIMAGINE opportunity.** Let’s get on the dance floor! Respectfully, Jennie *We work with referral partners who are licensed brokers for real estate transactions within The Bahamas in accordance with local laws. We have developed personal relationships with a very specific list of expert brokers per island / community / project that we trust to do business with our clients, and will advise as much or as little as needed to help ensure a smooth experience for you. **We are real estate professionals and not investment advisors. Our objective is to be a useful part of your overall team, providing you with expert market information to help you make informed decisions along with other professionals in your ecosystem. Also, this is not a solicitation for investment.

View more

Proudly Presenting The Residences at Montage Cay

  As many of you know, part of my business is to present opportunities I passionately believe in within the tropics of The Bahamas. I am so proud to share a quick preview with you on one of the most incredible new construction projects under development now -- The Residences at Montage Cay within The Abacos, Bahamas.  Montage Cay is a 53-acre private island resort with a limited collection of extraordinary turn-key oceanfront Montage Residences, featuring: - A 50 all-suite Montage hotel with an array of unique restaurants and bars - 47-slip deep-water Marina capable of accommodating vessels up to 110’ - Seven secluded white sand beaches - Signature Spa Montage - Paintbox Children’s Club - Health & wellness program with fitness center - Swimming pools, tennis, pickleball, robust water sports and family recreation - Dedicated residential staff for homeowners - Private Residents’ Lounge - Accessible by private or commercial air carrier, boat or seaplane - Residences from $4M   Actively under construction today! I will be featuring this project in my upcoming "Bahamas: Opportunities Showcase." DM, call, text or email me to learn more about why I'm standing behind this project and the excellent limited opportunities still available!   215.237.6336 (Cell or WA) jennie.frankkapoor@engelvoelkers.com

View more

Values Market Report Series | Broward County | Q3 2024 | Fort Lauderdale

A Data-Drive Insights Series for Luxury Real Estate Q3 2024: Broward County Fort Lauderdale | Sea Ranch Lakes | Lauderdale-by-the-Sea | Pompano Beach | Hollywood | Weston | Southwest Ranches Welcome to the Values market report series by Jennie Frank Kapoor of Tropical Phoenix Homes. In this series, we take a look at broader luxury market-level insights and trends with a focus on the data in an executive summary format. This part of the series will focus on quarterly updates with a bigger picture in mind, whereas my nearby Values: Key Takeaways sub-series focuses on what’s happening in our local luxury markets each month. Coupled with our neighborhood and building deep dives, this will give my clients, prospective clients, and collaborators both the macro and micro views of the tropical markets we work within. The goal is to help buyers and sellers make better decisions for their real estate goals. A Few General Notes About This Post: All data reflects criteria focused on luxury $1M+ properties, where I specialize in for my sales and REIMAGINE businesses. All the data, charts, and analysis presented in this report are broken down between i) Single-Family Homes (SFHs) and ii) Condos / Townhouses to give a more accurate view to our audience of property types and their performance in the market. Information is segmented by the local markets I specifically cover and we also zoom out to the broader South Florida counties for context. Enjoy a release of the following counties and cities all month! Counties and Cities  Broward   Fort Lauderdale (this post) Sea Ranch Lakes Lauderdale-by-the-Sea Pompano Beach Hollywood Weston Southwest Ranches Miami-Dade (coming soon) Coral Gables Coconut Grove Key Biscayne Miami Beach Pinecrest Bal Harbor Sunny Isles Palm Beach (coming soon) West Palm Beach Palm Beach Delray Beach Boca Raton Wellington For an insightful micro-level understanding of the market, please dig into my neighborhood deep dives and community pages. It's also my pleasure to prepare a complimentary market analysis and broker opinion of value for anyone looking to buy or sell a primary residence, secondary home, or investment property in a particular area. If you love numbers, charts, graphs – just data in general – this is the series for you. With an understanding of the past, we can help instruct the present and future. With that said, let’s dig in!   FORT LAUDERDALE I. SINGLE-FAMILY HOMES (SFHS) Click to View Available Listings SNAPSHOT 1 CLOSED SALES Observations: Luxury closed sales in Q3 saw a directional trend downwards, continuing what we observed in Q2. The YoY change has been flat or negative in 4 out of the last 5 months. This reinforces that the luxury market is continuing a leveling off or cooling phase after a number of significantly hot years, favoring buyers. 2 CLOSED DOLLAR VOLUME Observations: Luxury closed dollar volume in Q3 continued a downward trend from Q2 with all three months negative YoY. Similar to closed sales, September was an especially low dollar volume month, well off the mark from recent months and YoY. 3 MEDIAN SALES PRICE Observations: Following a tumble in late Q2, luxury median sales pricing was relatively flat over Q3, which is a good sign for the state of the market (meaning we aren’t seeing cut rate deals). If you look at the last 12 months as a whole, we we’ve recently seen stronger pricing achieved compared to the Fall of 2023; so keep the recent pullback in perspective after a strong runup in pricing after the turn of the year – this is all part of the ying and yang of the market. 4 MEDIAN TIME TO SALE Observations: The Q3 median time on market to a closed sale has remained within a fairly consistent range (between approximately three to four months). Compared to other areas of South Florida, this has been among the quickest categories of property to the closing table. Most luxury sellers should expect 4–6 months on the market with realistic pricing goals. This data demonstrates and reinforces that there is still strong demand for Fort Lauderdale luxury SFHs with YoY change down in 7 out of the last 12 months. 5 PENDINGS Observations: New luxury pending sales have been trending up over Q3 – a good sign for the direction of the market – as fresh contracts usually signal upcoming closings in a month or two (stay tuned). 6 ACTIVES Observations: Following national, regional, and local trends, active inventory of Fort Lauderdale luxury SFHs is up considerably over the last year, with the metric in a steady range recently in Q3. This is reflected in both nominal listings as well as YoY change (with 12 of the last 12 months up from the prior year). To me, this reflects pent-up demandfrom luxury SFH sellers looking for the right macro and local environment to sell after a few years on the sidelines. 7 NEW LISTINGS Observations: Following national, regional, and local trends, new listing inventory of luxury SFHs in Fort Lauderdale is up in Q3 as we go into Fall / Winter selling season. While the nominal new listings have been fairly steady in Q3, what’s notable is that 10 of the last 12 months have seen meaningfully higher increases YoY. 8 MONTHS SUPPLY Observations: Months Supply of luxury SFHs have been fairly steady in Q3 – reflecting consistently replaced inventory as earlier product is absorbed. This metric is another way of looking at the health of the market (buyers, sellers or neutral). Following national, regional, and local trends, luxury supply is up considerably over the last year, with consistently added luxury SFH inventory YoY. For this property type, the data indicates it’s a relatively strong buyers’ market, and I find that consistent with what I’m seeing on the ground in Fort Lauderdale this quarter (while still achieving strong median sales pricing and time to contract). That said, please note that supply is notably lower compared to many other luxury communities and product types within South Florida overall.   II. CONDOS AND TOWNHOUSES Click to View Available Listings SNAPSHOT 1 CLOSED SALES Observations: The last two quarters have been tough for luxury condo / townhouse sales here in Fort Lauderdale. Q3 saw negative YoY change in each month with 12-month lows in sales. Looking over the last year, there is a fairly established range in the sales cycle, and will be interesting to see if Q4 picks up from here. 2 CLOSED DOLLAR VOLUME Observations: Closed dollar value of luxury condos / townhouses continued a decline in Q3. YoY change is also negative in 3 out of the last 5 months. Similar to the previous metric, having hit the range of a 12-month low, it will be interesting to see if the market picks up from here. 3 MEDIAN SALES PRICE Observations: Q3 ended with a decline in median sales pricing for luxury condos / townhouses, and also set a 12-month low. 4 MEDIAN TIME TO SALE Observations: A bright spot in the market for this product type has been a decline in the median time to sale during Q3, along with two months marginally up YoY. This signals that while prices and activity are down, deals are getting done largely due to realistic concessions in pricing. 5 PENDINGS Observations: Pendings were up YoY in two of the last three months within Q3, which hopefully signals an upcoming boost in closed sales. The new pending sales range was fairly consistent over the last 12 months, but exiting Q3 was currently towards the bottom of that. 6 ACTIVES Observations Following national, regional, and local trends, active inventory of Fort Lauderdale luxury townhouses/condos is up considerably over the last year. This is reflected in both nominal listings as well asYoY change (with all of the last 12 months up from the prior year).  To me, this reflects pent-up demand from luxury townhouse/condo sellers looking for the right macro and local environment to sell after a few years on the sidelines. That said, how high active inventory has grown is contributing to the market softness. 7 NEW LISTINGS Observations: Two of the last three months of Q3 saw YoY gains in new luxury listings. Nominal new listings are also higher in Q3 compared to earlier months contributing to higher active inventory of luxury condos / townhouses. 8 MONTHS SUPPLY Observations: Months Supply is another way of looking at the health of the market (buyers, sellers, or neutral). Following national, regional, and local trends, supply is up considerably over Q3, with consistently added luxury condo / townhouse inventory. YoY change is up in all 12 months of the last year. For this property type, the data indicates it’s certainly a strong buyers’ market, and I find that consistent with what I’m seeing on the ground in Fort Lauderdale recently. Right now is a great time to be a patient and selective buyer here. DISCLAIMERS AND NOTICES 1) Data relied on within this blog and market report are from i) BeachesMLS and ii) MIAMI Association of REALTORS as of the date of this blog. This data is not verified for authenticity or accuracy and may not reflect all real estate activity in the market. Based on information © 2024 BeachesMLS, Inc. Click on any individual listing page link in the market report tables to visit the property on the IDX feed to my website for the latest information. 2) This blog and market report are not to be considered investment advice nor a solicitation for investment. 3) Purchasing or selling real estate is an important financial decision. Make your own buying, selling, or investment decision based on your own analysis and due diligence, along with the consultation of your own professional advisors. 4) The content of this blog and market report are for information and educational purposes only. Any commentary is solely the professional opinion of Jennie Frank Kapoor and/or Tropical Phoenix Homes and does not reflect the opinion of Engel & Völkers, any MLS, nor any other group. Errors and typos are possible, and you should verify all information before taking any actions. 5) This blog and market report are not an advertisement for any other broker’s particular listing (property) nor a solicitation of the seller they may be representing. Listings reviewed in this blog and market report may be those of other brokerages and listing agents. Every listing links directly to their respective auto-synced IDX page and displays the appropriate credits in accordance with local MLS rules and guidelines. In no way is this an attempt to advertise these listings as those of Engel & Völkers and/or Jennie Frank Kapoor. Any such listings will be clearly marked and credited to Engel & Völkers. 6) Copyright © 2024 of all original photos and content within this blog and market report, which are the property of Engel & Völkers, Jennie Frank Kapoor, and/or Tropical Phoenix Homes (“IP Holders”). No photos nor content may be utilized or reproduced without the prior written consent of the IP Holders.

View more