The Beach Club in Hallandale Beach can be recogized as one of the best values on the oceanfront in all of South Florida. When taking into consideration the newness of the building, the oceanfront parcel on which it was developed, the extensive amenities, close proximity to all of South Florida’s attractions, and the price per square foot of ownership, consumers are very hard pressed to find a better value in the marketplace.
Upon viewing the other oceanfront condominium projects in the marketplace from Fort Lauderdale to South Beach, oceanfront luxury at the Beach Club in Hallandale Beach has never been more affordable. Coastal Realty International provides real estate services in the form of sales and leasing at the Beach Club in Hallandale Beach.
The sales at the Beach Club in Hallandale Beach have increased substantially since June ‘09. In fact, 136 units have closed according to the most recent data provided by MLS. This equates to approximately a 40% increase in sales volume versus the previous 12 month period from June ‘08-June ‘09. The significant increase in closed sales vs. the previous year can be attributed to a confluence of factors including a strengthening in the economy, favorable exchange rates vs. the US Dollar, lower prices, and an increase in consumer confidence domestically and abroad.
Closed sales prices have ranged from $221,000.00 US Dollars on the low end for an “07″ line located in Beach Club Hallandale Tower 2 facing directly west with no balcony to a high sales price of $2,170,000.00 US Dollars for a direct oceanfront penthouse considered the crown jewel of the complex. The marketplace for units at the Beach Club in Hallandale is trending towards a more stabilized marketplace where buyers and sellers are in balance and there is greater price equilibrium.
A major consideration when making a real estate purchase at the Beach Club in Hallandale Beach is the sales price and the ongoing expenses associated with ownership. Cash purchases at the Beach Club Hallandale have been prevalent within the last 24 months. But, a stabilization in prices has allowed lenders to become more comfortable with the project. Therefore, lenders are willing and are currently offering mortgage financing on condominium units in the Beach Club Hallandale.
Credit score and income qualified borrowers can take advantage of low interest rates at 5% on purchase money mortgages which will cost a borrower $5.36 per month per 1,000 borrowed on a fully amortizing 30 year term mortgage.
Real estate taxes are another cost consideration with purchasing a condominium. The Beach Club is located in Broward county, Hallandale Beach municipality. The 2009 mill rate in Hallandale Beach was 21.0759. Therefore, the annual tax bill is approximately 2.1% of the taxable value of the property.
Lastly, condominium owners association fees and master association fees, commonly known as “maintenance fees”, are monthly fees incurred for the cost to managed the condominium tower and master common areas. The fees are based on the interior square footage area of the condominium unit. The monthly maintenance fee at the Beach Club in total for the condo and master association is approximately 59 cents per square foot. In which case, ownership of a 1,000 square foot condominium would cost approximately $590 per month in maintenance expense.
In summation, Beach Club Hallandale provides a compelling lifestyle opportunity option for consumers who fully understand and take into consideration the ownership costs and budget accordingly.