[redroset]

does anyone have info on Juhl Lofts. I never see anything on this development anywhere. The website gives general info, no prices or Hoa fees or resales etc. Very mysterious.

[Georgia7377]

Originally Posted by redroset

does anyone have info on Juhl Lofts. I never see anything on this development anywhere. The website gives general info, no prices or Hoa fees or resales etc. Very mysterious.

They are renting them out. They look so nice, but I'm guessing they couldn't sell them so now they are for rent.

[poorjetfan]

i happened to stop there last weekend---the sales office wasn't open but spoke with security guard---he said about 20 people live there---38 units are sold---he said they're in limbo---they can take offers but everything is at a standstill---i had asked him if they might convert to apartments, but he said not that he knows---said the sales office is open during the week only

[007 license to sell]

Originally Posted by redroset

does anyone have info on Juhl Lofts. I never see anything on this development anywhere. The website gives general info, no prices or Hoa fees or resales etc. Very mysterious.

Juhl was another victim of the economy, the developer went bankrupt before they could finish closing, then the bank became in trouble and was taken over by FDIC which sold it to the real-estate division of Starwood hotels. Actually the FDIC bundled a few of the properties that were owned by the same bank to Starwood.
Juhl can't sell anything or lease anything in there. I have an agent friend that is paid to sit there now and then and give a tour once in a while, for now nothing is for sale or lease.

The FDIC structured the deal to make it unattractive for Starwood to flip the properties, which are primarily located in hard-hit markets like Miami, Las Vegas, and California. Vacant properties will likely be converted to rental properties until the market recovers.

What's happening in the market now is that properties that have gone under banks or in this case the FDIC are making deals with investors .One of the things the FDIC is doing is making very low interest loans in some cases 0% interest loans on the properties on the condition they hold off selling the properties from 5 to 10 years. If they choose to sell before that then the proceeds of the sale are shared with the bank.

[007 license to sell]

Originally Posted by logline

Actually I just bought in Boca Raton and should take this opportunity to clarify these erroneous statements which seem to be passed around like bad hors d'oeuvres.

Just under half of the units built have been sold. If you're trying to count total units originally planned (buildings 1&2 which were never built) then I could see your point, but that is not the case. A simple call to the front desk will confirm this.

Also, to say that the property is not being kept up is totally false. In fact, it kept up better than any other complex I've lived in. Sure the HOAs are high, but the place is fantastic. Steam room, limo service, 2 gyms, pool, water (softened I might add), luxurious movie theater, concierge service, locker rooms, massage room, nice landscaped grounds, friendly (and sufficiently strict) security guards ...all of the above are top notch and well-maintained. But again, a simple walk of the grounds would have confirmed this too.

007 seems to have a negative view of the place as you can tell from previous posts, but despite her advice, I investigated further and definitely found the place worth investing in at these prices... even if the worst case scenario she proposed were to come true. Good luck.

The information I give is public I don't make this up to discourage people what benefit would that be?
I do not have a negative view of the property, it has nice condo's and amenities but there are problems and anyone looking to purchase anything in this town should know the good the bad and the ugly so they can make an informed decision.
Yes two of the buildings weren't built, however if you look in the tax records you will see there are over 700 built and there were over half that never sold and you can also see just how many units have sold.
I speak to the office at Boca at least once a month to find out if the developer has found a buyer because I have clients that want to purchase in there and they only want new.

If you look closely at the grounds the planters are missing most of the plants. One of the hot tubs have never been opened. The ground level units are suppose to have little fences around their area to designate the space in front so people have to walk around and not walk in front of the door, and most of those didn't get them that did buy.

I have showed that property before it was even built when a realtor would take a client to the trailer to see the models. It was a great idea when the strip was growing south. Now all you have at that end of town is either empty lots, a trailer parks and time shares and the South Coast casino. The analyst predict that end of town will not come back for at least 10 yrs. The M resort is for sale it's having a tough time making it at that end of town as well.

It's a tricky housing market out here so buyers need to do their home work before they buy. Buyers can go to the front desk and ask about what is going on there, ask what is the developer planning on doing with the rest of the properties, ask them how many units are there and how many are actually owned. The desk is the property management company for the HOA and they will be able to tell you all you want to know .
In fact if you want to call Boca here is their phone number so you can talk to them yourselves. 702-270-2622

[Swigchow]

We had checked out Juhl and Boca last Fall. Both seemed nice but tenuous.

[poorjetfan]

a little update---the 2011 budget is complete and we're able to hold the assessments at the same rates for the 2nd year in a row---a couple more foreclosures have hit the MLS, including one of the penthouses---we did find out that solar panels on the roof will not be cost effective---wind power is still a possibility, as we're running a test now---we're the 1st high rise to have a recycling program (at least according to evergreen)---and we finally just had our first complete window washing---hallelujah

[Swigchow]

Just curious, how much does it cost to window wash a high rise?

[poorjetfan]

our 'regular' window washing is about 4 grand---however, there weren't enough davits placed around our running track, so certain windows on each side of the building had never been cleaned---this cleaning is being paid by our attorneys handling our building defect litigation and it came to over 40 grand---special scaffolding had to be constructed to reach every area and it took 2 1/2 weeks to complete

[bledsoe3]

Originally Posted by Swigchow

Just curious, how much does it cost to window wash a high rise?

You would have to pay me a lot to get on one of those scaffoldings.