So its another beautiful day in South Florida and once again I got a call from more buyers who are interested in buying a condo for an investment in the Royal Grand Condo community here in Davie Florida which is within walking distance of the Nova Southeastern University college campuses which is a favorite for all investors and renters alike.
If you would like to know about other recent sales in the Davie, Fl areas please contact me anytime.
For the fiscal year of 2011 there were a total of 14 sold condos in Royal Grand and these do not include units that may have sold at the auctions or non MLS sales like on that I personally sold near the end of the year. I do not see more than 7-8 more selling during 2012 due to lake of inventory and the fact that most of the units that are behind on payments in our community are getting smaller and smaller every year. This will surely drive prices up over the next few years by a few thousand dollars and maybe more but that is no guarantee on how high they will go..
Its been a few months since the last sale happened in the Royal Grand community, One of the most recent sales in Royal Grand was a 1 bedroom 1 bath condo I personally sold in November for $77,000.00 to a local resident and investor who resides in the Royal Grand community. Before that sale in Royal Grand I also personally sold another one in August 2011 to another buyer which was sold through a short sale and this one was a 2 bedroom 2 bath condo with a Garage included ” We found out about the garage on day of closing with buyer was very happy” and this unit sold for $77,000.00 as well. These were the last 2 properties that I am aware of at this time as of January 9th, 2012.
Just the Royal Grand Condo community I do see a smaller inventory over the next few years for buyers to choose from until investors start to sell some years down the road but I you are currently looking to buy in Royal Grand or any of the other investor friendly communities nearby you surely can expect to pay a premium to own a rental friendly apartment / condo near Nova Southeastern University for years to come..
If you have any questions about the community or nearby communities to purchase or you are thinking of selling a property you own please feel free to call me for the most professional advise anytime…