Typical Homes Worth $1 Million In South Florida

[Bling]

ITS ALL ABOUT LOCATION LOCATION LOCATION!!

MIAMI -- One out of every five homes for sale in Miami-Dade County is priced at $1 million or more, and Broward County might not be far behind.

"It says three bedrooms, two baths -- $989,900. Almost $1 million," said Dorothy Giuffrida.

It might not look like it from the curb, but in South Florida, Giuffrida's house is one of today's million-dollar homes.

The house isn't big --1,050 square feet. Its selling point is the canal leading to the ocean.

There are six $1 million homes for sale in Giuffrida's neighborhood and hers is the cheapest.

"The market is real high right now. We can make a lot of money," Giuffrida said. "It's like every other house around here was going for it."

NBC 6 set out to find typical neighborhoods where million-dollar properties are popping up.

In 1995, only 41 homes sold in Miami-Dade and Broward counties for $1 million or more. Six years ago, 254 sold. Last year, more than 1,400 homes brought in seven figures.

"If I knew my neighbor sold their homes for $1 million I'd be counting my money. Wouldn't you?" said Kathleen Prior, a Keller Williams realtor.

Prior broke out the zip codes where the most homes are now starting to edge over the $1 million price tag. Parkland (33076), Pompano Beach (33062), Davie (33330) and the Coral Ridge section of Fort Lauderdale (33308) top Broward County's list.

"This is a beautiful quiet neighborhood. Victoria Park is hot," Prior said of the neighborhood just north of downtown Fort Lauderdale where a 2,400-square-foot home with three bedrooms is selling for $1 million.

Hurricane damage is no problem if you're in Lighthouse Point, where one 1,200-square-foot home is worth $1 million.

Bernard Rehhaut is cashing in. His Polynesian themed property isn't on the water, isn't near the ocean, isn't overwhelming from the curb, but the North Miami home he paid $220,000 for six years ago is making him rich.

"(I feel) like a millionaire. It feels great," Rehhaut said.

The Miami-Dade County zip codes with the most homes pushing onto the $1 million list are Perrine (33157), Killian (33176) and parts of Kendall and Pinecrest (33156).

The Frybargers own a 2,400-square-foot home in Hollywood they bought seven months ago for $760,000. Their community just east of Interstate 95 is so hot, the home is now worth $1 million.

"It's just crazy. It really is," said Omara Frybarger.

NBC 6 found a 1,900-square-foot home in Sunny Isles worth $1 million.

"The condition is not the selling feature of this home. The location is purely the selling feature," Prior said.

So even if your home doesn't look a million bucks, it might be worth it in the right location.

http://www.nbc6.net/money/7095389/detail.html

[Guest swirlundergrounder]

Yeah, right now we rent a 3 bedroom townhouse in the Eastern Shores right on the water. The canal leads right to the ocean. Even though my landlord won't admit it I think he's getting ready to sell it. About 7% of the townhomes in my neighborhood are for sale.

My landlord had an appraiser here the other day taking some measurements. Even though my landlord says that he's taking measurements to possibly do home improvements to the townhouse I'm renting I think he's assesing his investment to possibly sell it.

This kind of throws a wrench in our plans because our next step from here is to buy a house but we haven't decieded on a particualar area yet and we were going to wait until next year. This might even force us to move pre maturely out of Florida to San Diego possibly. The housing market here in Florida is out of control right now. And to get what you want you are going to have to spend an arm and a leg to get it or move way out West.

I'm hoping that my landlord is not going to sell for at least another year.

[Guest saintjohn]

I was researching an article about Victoria Park for Home Fort Lauderdale magazine last week - there are million-dollar houses in that neighborhood being sold as knock-downs.

[Guest JMT]

some players here in PBC are expecting housing values to fall at least 10% in the next few months.

[Guest Slide On The Ice]

Dude, I researched homes in Georgia via BuyOwner a couple of months ago and it was unbelievable that there were beautiful 5 bedroom homes selling for what a 2-3 bedroom house sells for down here. I am looking to sell my current new condo when the value goes up, and buy a house in Port St. Lucie. I found countless homes in Port St. Lucie with 3-4 bedrooms selling for 260-280, where the same size home down here is going for over 400.

Last night my cousin, my roommate, was flipping out while showing me homes for sale in Texas, San Antonio, that are huge, up to 3000 square feet with 3-5 bedrooms, all under 300. There are homes there going to 245-300 that would be over a million and more here. It is crazy. I wonder if I should move to San Antonio. ???

[Guest Slide On The Ice]

some players here in PBC are expecting housing values to fall at least 10% in the next few months.

I don't see it happening. We're boxed in between the Everglades and the ocean, there is no room to build and expand, and more and more people move to south Florida every month. Supply and demand. As long as people keep coming, and there is no place to build new homes, the current homes will keep going up in value. Not the way it has over the last 2 years though, it will slow down, but I seriously doubt that the values would decrease at all.

Supply and demand, with no room to grow...that's why homes are selling in Texas for 225-300,000 that are selling by comparable size and square footage, here in the million dollar range.

[Guest JMT]

some players here in PBC are expecting housing values to fall at least 10% in the next few months.

I don't see it happening. We're boxed in between the Everglades and the ocean, there is no room to build and expand, and more and more people move to south Florida every month. Supply and demand. As long as people keep coming, and there is no place to build new homes, the current homes will keep going up in value. Not the way it has over the last 2 years though, it will slow down, but I seriously doubt that the values would decrease at all.

Supply and demand, with no room to grow...that's why homes are selling in Texas for 225-300,000 that are selling by comparable size and square footage, here in the million dollar range.

we arent boxed in anywhere yet. there is still plenty of room out west, at least in pbc and broward. and you are forgetting about the hurricanes every year. i have been condo shopping for several months now, the demand has slowed to meet supply and the asking prices are going down. im not making that up, thats what people who sell real estate for a living are saying. condos could go down by 20%.

[all4tribal1414779019]

take west kendall for example...homes there 6-10 years ago sold for $90-100k and now they are worth half a mil

it's not just south florida that has been booming, im sure most of you know...in northern va close to washington dc where i grew up, you can only find townhomes in the 500-700k 3/2 range...forget bout homes.

[Guest slamminshaun]

Dude, I researched homes in Georgia via BuyOwner a couple of months ago and it was unbelievable that there were beautiful 5 bedroom homes selling for what a 2-3 bedroom house sells for down here. I am looking to sell my current new condo when the value goes up, and buy a house in Port St. Lucie. I found countless homes in Port St. Lucie with 3-4 bedrooms selling for 260-280, where the same size home down here is going for over 400.

Last night my cousin, my roommate, was flipping out while showing me homes for sale in Texas, San Antonio, that are huge, up to 3000 square feet with 3-5 bedrooms, all under 300. There are homes there going to 245-300 that would be over a million and more here. It is crazy. I wonder if I should move to San Antonio. ???

I purchased my home in PSL for $389,000 last year. It's 5 bedroom, 3 bath, gated community, on a cul-de-sac, on a big lake. People were laughing at me on this board a year ago when I said it would be a matter of time before PSL would seem attractive. A home like this in Miami would be about 1.5 million all day long...

By the way, if you need a mortgage when you relocate, I know this dude, best in the business in Port St. Lucie... www.suntrustmortgage.com/swilliams ;D

[all4tribal1414779019]

Dude' date=' I researched homes in Georgia via BuyOwner a couple of months ago and it was unbelievable that there were beautiful 5 bedroom homes selling for what a 2-3 bedroom house sells for down here. I am looking to sell my current new condo when the value goes up, and buy a house in Port St. Lucie. I found countless homes in Port St. Lucie with 3-4 bedrooms selling for 260-280, where the same size home down here is going for over 400.

Last night my cousin, my roommate, was flipping out while showing me homes for sale in Texas, San Antonio, that are huge, up to 3000 square feet with 3-5 bedrooms, all under 300. There are homes there going to 245-300 that would be over a million and more here. It is crazy. I wonder if I should move to San Antonio. ???

[/quote']

I purchased my home in PSL for $389,000 last year. It's 5 bedroom, 3 bath, gated community, on a cul-de-sac, on a big lake. People were laughing at me on this board a year ago when I said it would be a matter of time before PSL would seem attractive. A home like this in Miami would be about 1.5 million all day long...

By the way, if you need a mortgage when you relocate, I know this dude, best in the business in Port St. Lucie... www.suntrustmortgage.com/swilliams ;D

i remember that thread

if you need help on your roof, consult me as your roof consultant at no cost to you if you go with my company, if you don't and still need something than i charge a min fee of $700.00

hehe

[Guest dahzel]

Dude' date=' I researched homes in Georgia via BuyOwner a couple of months ago and it was unbelievable that there were beautiful 5 bedroom homes selling for what a 2-3 bedroom house sells for down here. I am looking to sell my current new condo when the value goes up, and buy a house in Port St. Lucie. I found countless homes in Port St. Lucie with 3-4 bedrooms selling for 260-280, where the same size home down here is going for over 400.

Last night my cousin, my roommate, was flipping out while showing me homes for sale in Texas, San Antonio, that are huge, up to 3000 square feet with 3-5 bedrooms, all under 300. There are homes there going to 245-300 that would be over a million and more here. It is crazy. I wonder if I should move to San Antonio. ???

[/quote']

I purchased my home in PSL for $389,000 last year. It's 5 bedroom, 3 bath, gated community, on a cul-de-sac, on a big lake. People were laughing at me on this board a year ago when I said it would be a matter of time before PSL would seem attractive. A home like this in Miami would be about 1.5 million all day long...

By the way, if you need a mortgage when you relocate, I know this dude, best in the business in Port St. Lucie... www.suntrustmortgage.com/swilliams ;D

PSL IS the new hot market. it has been for a little while. i did deliveries up there for over a year, you think traffic down here is bad!!? give it time and prices will be the same up there. too many ppl, and no offense shaun, but it is way too red neck. almost every truck you see has that attractive sack hangin from the back of of their trailer hitch that necks love to put on their trucks.

[all4tribal1414779019]

Dude, I researched homes in Georgia via BuyOwner a couple of months ago and it was unbelievable that there were beautiful 5 bedroom homes selling for what a 2-3 bedroom house sells for down here. I am looking to sell my current new condo when the value goes up, and buy a house in Port St. Lucie. I found countless homes in Port St. Lucie with 3-4 bedrooms selling for 260-280, where the same size home down here is going for over 400.

Last night my cousin, my roommate, was flipping out while showing me homes for sale in Texas, San Antonio, that are huge, up to 3000 square feet with 3-5 bedrooms, all under 300. There are homes there going to 245-300 that would be over a million and more here. It is crazy. I wonder if I should move to San Antonio. ???

I purchased my home in PSL for $389,000 last year. It's 5 bedroom, 3 bath, gated community, on a cul-de-sac, on a big lake. People were laughing at me on this board a year ago when I said it would be a matter of time before PSL would seem attractive. A home like this in Miami would be about 1.5 million all day long...

By the way, if you need a mortgage when you relocate, I know this dude, best in the business in Port St. Lucie... www.suntrustmortgage.com/swilliams ;D

PSL IS the new hot market. it has been for a little while. i did deliveries up there for over a year, you think traffic down here is bad!!? give it time and prices will be the same up there. too many ppl, and no offense shaun, but it is way too red neck. almost every truck you see has that attractive sack hangin from the back of of their trailer hitch that necks love to put on their trucks.

its not just port saint lucie with the trucks i believe most of the state is like that i lived both in otown n cleatwater beach/tampa n ppl love their trucks

[Guest dahzel]

Dude, I researched homes in Georgia via BuyOwner a couple of months ago and it was unbelievable that there were beautiful 5 bedroom homes selling for what a 2-3 bedroom house sells for down here. I am looking to sell my current new condo when the value goes up, and buy a house in Port St. Lucie. I found countless homes in Port St. Lucie with 3-4 bedrooms selling for 260-280, where the same size home down here is going for over 400.

Last night my cousin, my roommate, was flipping out while showing me homes for sale in Texas, San Antonio, that are huge, up to 3000 square feet with 3-5 bedrooms, all under 300. There are homes there going to 245-300 that would be over a million and more here. It is crazy. I wonder if I should move to San Antonio. ???

I purchased my home in PSL for $389,000 last year. It's 5 bedroom, 3 bath, gated community, on a cul-de-sac, on a big lake. People were laughing at me on this board a year ago when I said it would be a matter of time before PSL would seem attractive. A home like this in Miami would be about 1.5 million all day long...

By the way, if you need a mortgage when you relocate, I know this dude, best in the business in Port St. Lucie... www.suntrustmortgage.com/swilliams ;D

PSL IS the new hot market. it has been for a little while. i did deliveries up there for over a year, you think traffic down here is bad!!? give it time and prices will be the same up there. too many ppl, and no offense shaun, but it is way too red neck. almost every truck you see has that attractive sack hangin from the back of of their trailer hitch that necks love to put on their trucks.

its not just port saint lucie with the trucks i believe most of the state is like that i lived both in otown n cleatwater beach/tampa n ppl love their trucks

yeah you're right about that. it's just about west palm and north. i've been all over central and east coast of florida and it's all the same. good point.

[Guest slamminshaun]

Well, Port St. Lucie is no Miami, but we're not Yeehaw Junction either. You'd be hard pressed to find big wheelers covered in mud around here. Most of the people that live here are either from New England, New York, or South Florida. Not very many rednecks populate Port St. Lucie...there's a reason the U.S. Census Bureau recognized this city as the fastest growing in the entire U.S. It has nothing to do with "cheap" housing, and more to do with quality of life. I can rattle of 10,000 cheaper places to live, most of which are growing at a snail's pace.

[Guest Slide On The Ice]

some players here in PBC are expecting housing values to fall at least 10% in the next few months.

I don't see it happening. We're boxed in between the Everglades and the ocean, there is no room to build and expand, and more and more people move to south Florida every month. Supply and demand. As long as people keep coming, and there is no place to build new homes, the current homes will keep going up in value. Not the way it has over the last 2 years though, it will slow down, but I seriously doubt that the values would decrease at all.

Supply and demand, with no room to grow...that's why homes are selling in Texas for 225-300,000 that are selling by comparable size and square footage, here in the million dollar range.

we arent boxed in anywhere yet. there is still plenty of room out west, at least in pbc and broward. and you are forgetting about the hurricanes every year. i have been condo shopping for several months now, the demand has slowed to meet supply and the asking prices are going down. im not making that up, thats what people who sell real estate for a living are saying. condos could go down by 20%.

Well, in that case, then I am screwed if I can't unload this condo with a profit in the next year so I can move to PSL.

[Guest Slide On The Ice]

Dude' date=' I researched homes in Georgia via BuyOwner a couple of months ago and it was unbelievable that there were beautiful 5 bedroom homes selling for what a 2-3 bedroom house sells for down here. I am looking to sell my current new condo when the value goes up, and buy a house in Port St. Lucie. I found countless homes in Port St. Lucie with 3-4 bedrooms selling for 260-280, where the same size home down here is going for over 400.

Last night my cousin, my roommate, was flipping out while showing me homes for sale in Texas, San Antonio, that are huge, up to 3000 square feet with 3-5 bedrooms, all under 300. There are homes there going to 245-300 that would be over a million and more here. It is crazy. I wonder if I should move to San Antonio. ???

[/quote']

I purchased my home in PSL for $389,000 last year. It's 5 bedroom, 3 bath, gated community, on a cul-de-sac, on a big lake. People were laughing at me on this board a year ago when I said it would be a matter of time before PSL would seem attractive. A home like this in Miami would be about 1.5 million all day long...

By the way, if you need a mortgage when you relocate, I know this dude, best in the business in Port St. Lucie... www.suntrustmortgage.com/swilliams ;D

So I'll have you as a neighbor then? Not bad. I'll finally get to hear you spin.

But yes, I've heard that in the last 2 years, that values in PSL have doubled. That's why I want to get up there ASAP before it's too late to get in.

Thanks for the referral there. I'll keep it in mind.