New Rental Listing in Forest Ridge

9625 Sycamore Court, Davie, FL 33328  is being offered for $3000.00 a month based on a 12 month lease.  It is a 3000 sq. ft.  5 bedroom/3 bath one story home located in the Old Orchard section of Forest Ridge.  The unique feature of this home is the in law suite complete with its own den, washer and dryer hook-up, a large master bedroom, bath with shower and a huge walk in closet.  The in law suite is privately located in a separate wing of the home. 

The main part of the house has 4 bedrooms and 2 baths.  The 2nd bath was recently remodeled with a claw foot tub, vintage style tile flooring, a glass tile wall border, and a Victorian style freestanding sink.  Three bedrooms and one bath are on one side of the home; the master bedroom and bath are on the adjacent side of the home. 

The kitchen is the gathering place for everyone, with a large informal dining area and snack counter.  The appliances include a black French door refrigerator and matching black oven, microwave and dishwasher.  The formal living room and dining room walls have been designed with custom woodwork, styled in the Victorian manner. 

The fenced yard is completely landscaped for privacy.  It features a large brick paver patio and remote control sun setter awning.  Pets are allowed, with some restrictions.  Non-smokers only.  For more information contact Patti Reid, P.A. Owner/Agent (954) 854-6310.

Main Street vs. Wall Street

Whether or not the extended tax extension will change the face of  real estate in this economy is yet to be seen.  The new plan includes increased income limits and adds a credit for homeowners who sell their home and purchase another one.Meanwhile a separate problem exists which, in my opinion, needs greater attention than it is being given.

 Everyday I meet people who purchased homes at the wrong time, at the height of the market.  Now they are stuck in the quagmire and no one is lending them a helping hand.  These are people who are capable of making their house payments, even though they have lost up to 50% of the value of their home from the time they purchased it.  Their neighbors have bailed or have sold their homes through a short sale, bringing the value of comparable homes down even further.  Is it right to punish the people who have stuck it out?  Where is their bail out? Where is the justice?

Unless banks start to reduce mortgages and work  with the people who are helping them keep afloat,  we are going to see more and more people throwing up their hands in disgust, and sending their banks “jingle mail”.   

If this is truly a time for Change I haven’t seen it yet.  Big business get all the attention and financial help while those who ask for so little are being ignored.

Will the Tax Credit Stimulate the Real Estate Market?

The Miami Herald reports that nearly 50% of the homes are underwater in Miami Dade and Fort Lauderdale Metropolitan area in the third quarter of this year.  Although this figure is slightly less than in the second quarter,  it appears that the newly extended Tax Credit will do little to solve the problems that are brewing.  Homeowners who have tried to get loan modifications are  frustrated by the length of time it takes for a response and most of the time the response is negative. 

 Yet, banks are willing to sell homes at short sale prices to new buyers, while the seller’s credit is damaged for a minimum of two years, making it impossible for them to buy a home or any major purchase.  This endless cycle won’t end until banks start to work with owners who want to keep their homes and their credit.  It’s time to stop the bleeding.

Forest Ridge Keeps Statue and Land

According to the President of the Forest Ridge Homeowners Association, Duncan Bossle, the developer who built Forest Ridge has agreed to donate the statue of Major Lauderdale located at the entrance to Pine Island Ridge and 6.68 acres of land at the entrance of Forest Ridge.   Developer Charles Palmer is dissolving his corporation, Sea Ranch Properties; he previously wanted to sell these assets to the community. The transfer of these assets should take place prior to years end.

 At a meeting of the Master Homeowners Association last week, the board members voted not to pay for the statue or pursue the purchase of the land for a variety of reasons.  The statue has been the landmark of the community since it’s inception in the late 1980s. 

Sea Ranch Properties has a long history.  The forerunner company, North American Company Trust, was founded by R.H. Gore, who bought  the News/Sun Sentinel in 1929.  He was a prominent player in the development of Fort Lauderdale and Lauderdale by the Sea.  Sea Ranch Properties began in 1974 and throughout the years developed many beautiful properties in Broward County, as well as hotels and luxury oceanfront properties.  They are best known in Davie, Florida for the development of Rolling Hills Lakes Estates, Oak Knoll, Forest Ridge.

Forest Ridge Says "No" to purchase of statue

Tonight the members of the  master association of Forest Ridge voted ” No” to Charlie Palmers offer to sell us 6.86 acres of land at the entrance of Forest Ridge and the statue of Major Lauderdale, which has been the landmark of the community for the past 20 years.   Duncal Bossle, President of the Master Association, explained that Sea Ranch Properties (owned by Charlie Palmer) owns the land from the main entrance of the community, leading up to and including the statue.  Mr. Palmer will be disolving Sea Ranch Properties and and must sell the assets by November 15, 2009.

According to a report given by Councilwoman Starkey, the land is currently assessed at $10.00 by the Broward County Property Appraiser.  The statue was originally purchased  for over $100,000.00 and was donated by Sea Ranch Properties under an agreement made between Sea Ranch Properties and the town of Davie.  Councilwoman Starkey also stated that since the land that Mr. Palmer is trying to sell Forest Ridge is considered to be preserved, it would be virtually impossible for him or anyone to ever build on it.  The town of Davie has already stated that they are not interested in purchasing the land. 

Mr. Palmer has suggested that he would remove the statue of Major Lauderdale from Forest Ridge and donate it to Fort Lauderdale for the Centennial Celebration next year.