Real Estate News Today

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Fort Lauderdale area Home Sales Soar
With home prices all over the map in Fort Lauderdale and surrounding cities, the frequency of sales each month is on a steady incline. Nearly 1300 existing homes in Broward County changed hands in the month of June, up 6% from last year during the same month. More information can be read here.

Chinese Drywall Settlements For Florida Homeowners
Across the tri-county area, many luxurious homes were built in prestigous neighborhoods in the early 2000s utilizing Chinese-imported drywall. Chinesedrywall.com reports: “…homeowners exposed to Chinese drywall often report similar physical ailments and symptoms including acne, asthma attacks, bloody noses, congestion, coughing, problems, hair loss, headaches, hives, irritated eyes, joint and muscle pain, miscarriages, nausea, nosebleeds, phlegm, rashes, runny nose, shortness of breath, sneezing, sinus problems, sore throat, tightness of the chest, trouble breathing and urinary tract infections after being exposed to Chinese drywall.”

Many homeowners were forced out of their homes, often leading to foreclosure because insurance companies weren’t willing to pay to replace tainted drywall.

A recent settlement offer from Banner Supply Co., a major distributor of Chinese Drywall in Florida, proposed $54.5 million, which in turn would supply many home owners with only 10% of the funds necessary to replace the dry wall in their homes. Most statistical trends show that said homeowners will not accept the settlement and further their lawsuits in state courts. More can be read here.

A+ Rating for Citizens Property Insurance
Citizens Property Insurance, one of the main home-owners insurance companies in the state, was recently assigned an A+ rating by Fitch ratings, who noted, the outlook seems stable.

Former Bank Exec Lists Pompano Beach 3 BD Home
Barbara F. Halprin and Michael R. Halprin have listed for sale a three-bedroom, two-bath home at 401 SE 15th Ave. in Pompano Beach for $629,000.

The 2,381-square-foot house was built in 1957 in Pompano Beach Central in the Snug Harbor subdivision. Linda Reedy of Salefish Real Estate LLC is the listing agent of the home. More information can be found by contacting Condo Loft’s City Vice President Jeannette Neerpat for MLS Information and to schedule viewings. You can email her here.

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A Real Estate Blog by CondoDomain