Florida, particularly South Florida, remains number 1 in the U.S. for the number of sales of vacation property to Domestic and Foreign Buyers so the level of interest is always very high. Prices that are significantly reduced from peak prices of several years ago have helped to increase interest even more. Additionally, there are MANY Waterfront Condos in MUCH, MUCH older Buildings that are currently selling for the prices that the Condos in this Building are offered for. Besides, here in Broward County, particularly in this area of the County, we have very few Waterfront Buildings that are new (by “new”, I’m referring to Buildings that are ~1-2 years old that have Units available that haven’t been lived in), so there isn’t much competing inventory.

Even though price reductions would likely increase sales, I think that, much more than price, the issues at the Building that have kept sales lower than expected are:

1. The threat of increased Maintenance Fees in the future (which you mentioned) because people don’t believe they will be kept at .42 cents PSF. At most new Condos that offer this level of Amenities, the average Maintenance price per square foot starts around .70 cents (this post includes information about Condo Maintenance Fees) http://southfloridahomespot.com/2010/05/14/average-cost-of-condo-amenities/
2. Interested Buyers’ concerns with what’s going to be built across the Street in the distant future

There are gorgeous views from many of the Units on high Floors and the Beach is right across the Street, so I’m not sure if those 2 issues are overwhelming reasons for more Units not selling than have already been sold.

By “noisy streets”, what are you referring to? I’ve never noticed a high noise level on the streets. Sure, there’s noise, but I’ve never noticed anything other than the normal level of street noise. I live in Pompano Beach, have visited the Building many times, spent time on the Beach, and have eaten at Houston’s Restaurant (right by Oceanside Condo) often and there wasn’t unusual noise. There was recent Construction work on the Intracoastal Bridge by the Building, so maybe that’s what you heard or maybe there was an event at the time that you visited (such as the Annual Seafood Festival)? Regarding the noise of traffic of A1A from the Condo, the Condo’s Windows and Doors are Impact Glass, so when you’re inside with the Doors and Windows closed, traffic noise is almost non-existent.

Yes, it’s most definitely a beautiful Building and one of my favorites so far as the contemporary design, fabulous Amenities, and Residences.

The pricing in that building remains too high, and the threat of insanely high maintenance and other fees are a killer. Add to that the lack of beach access, and the ugly view of worn out rooftops, and you have a beautiful building with issues that scare people off.

I loved the building, but the dirty roofs, noisy streets, and soon-to-come huge upkeep maintanence fees are a deal killer until thyese units drop into the mid 300′s for a 2 bedroom end unit.

http://southfloridahomespot.com/2010/07/17/eagle-trace-homes/

http://southfloridahomespot.com/2010/07/17/eagle-trace-homes/

http://southfloridahomespot.com/2010/07/14/sapphire-condo-sales-update-2/

Don Moon
423 593-3142