Villas by the Sea Oceanside Condos
Of the Developer-owned Units in the Building across from the Ocean (referred to as the Oceanside Building), there’s only 1 Floorplan left that’s available for purchase, a 3-Bedroom Floorplan that’s priced at $799,900 and up.
Villas by the Sea priced their Units in line with current market prices (some reductions were made, but they weren’t drastic because the pricing was very reasonable). Broward County Property Tax Records indicate that the Units purchased so far have a purchase price range of $430,000 – $1,295,800 and purchase date range of 10/27/08 – 3/26/10. Only 5 Units have been purchased for under $500,000. The most recent sales (within the last 6 months) have a purchase price range of $430,000 – $800,000.
Property Tax Records indicate that, of 45 total Units in the Oceanside Building, ONLY 9 are Developer owned, which speaks volumes about the quality of the Building, the desireable location, the unique features of the Building, correct pricing, and a Real Estate Market that’s significantly more healthy than previously.
Currently, none of the existing Owners are selling their Units and there aren’t any Foreclosures in the Building. Villas by the Sea Closings have occurred in the current market, one in which Lending criteria are very strict and one in which there are many Cash Buyers, which makes for very stable Buildings.
Villas by the Sea Oceanfront Condos
Construction of the first direct Oceanfront Building is complete. Closings started in August of 2009 and 17 Units have already been purchased. This Building includes a total of 21 Units and, of the 21 total Units, only 4 are Developer owned, which is absolutely phenomenal! Property Tax Records of the closed sales indicate that the 17 Oceanfront Condos were purchased in a purchase price range of $869,900 – $1,307,500. Of the closed sales, 4 were purchased for under $1,000,000.
In the direct Oceanfront Building, Units of 3 different Floor Plans are currently available for sale, starting at $975,000 and up.
The direct Oceanfront views are fabulous and Villas by the Sea could be a perfect choice if you’re interested in Oceanfront Living in a Building that isn’t a high-rise Condo, located within walking distance of Shops and Restaurants, and conveniently close to downtown Ft. Lauderdale and the Las Olas area.
The closed sales and very low inventory of Developer owned Units have proven that most of the pre-Construction Buyers at Villas by the Sea didn’t back out of their Contracts, the Units didn’t remain empty, they weren’t “given away”, and they didn’t go into Foreclosure, nor Auction, much to the chagrin of those who predicted otherwise.
Villas by the Sea Residences is located in Lauderdale by the Sea, Florida, next door to Ft. Lauderdale. Click to view the full Villas by the Sea profile.
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