Property in Lauderhill Good, Bad?

[Nolefan34]

Sell now while prices are high and interest rates are low. Use the money to buy another property elsewhere. There are so many better areas to buy in. The housing market will likely cool off in 2017. Prices can only go so high so quickly. In the long run (10-20+ year horizon) prices will continue to go up. If you can buy in a good area now, you will have a solid investment over the long term.

[deedotcuzo]

Originally Posted by Listennow32

Hello all,

so I have inherited a rental condo in Lauderhill and I wanted to get a general feel from locals whether or not it would make sense to hold on or sell. I've been to the area a few times over the past couple of the years and my general assessment for the city has been "decline". The property is in a complex which is well maintained and has amenities such as 24 hour security, club house etc pool, but the single family homes around the area seem to be declining. However, is this accurate? Are property values actually rising? What type of reputation does the area have? Is this a place to hold on to because development is shifting this way or has it seen its glory days and moving into decline? Of course I know this a forum and I'm not looking for expert advice, but I'd like to know your opinions.
-Listennow

Sell.

I don't like lauderhill, most of it is "ghetto" and the schools suck, if you care for this sort of thing.

[OptimusPrime69]

Lauderhill is a straight up dump.
Like, let's be real here.

The schools suck. The area is garbage and the people are basic.

Sell.

[JenniferWessel]

I've had a few interested buyers contact me on that home. It's very neat and looks like a time capsule of when Jackie Gleason owned it. I think the problem is that it is three parcels, which means three HOA fees totaling $1,800ish monthly.

Originally Posted by wizrap

Good catch. If a home that would go for perhaps close to a million in many South Florida cities can't even fetch $299k that has to say something about the value of SFH's in the area. Would the condo market be the same? I haven't looked at trends but it very well could be.

[JenniferWessel]

I'm curious which community the condo is located. I think some do better than others by far when it comes to the rental income. Also the stability of the association is something to consider. Have they completed their 40 year re-certification? Do they have reserves to cover assessments? Also check the restrictions to rent. A few places in the area seem difficult for tenants to meet the association criteria so the available apartments stay on the market longer. I think there will always be a need for a lower priced rental. There may be more factors than just the area to decide if it is a good rental.

Originally Posted by Listennow32

Hello all,

so I have inherited a rental condo in Lauderhill and I wanted to get a general feel from locals whether or not it would make sense to hold on or sell. I've been to the area a few times over the past couple of the years and my general assessment for the city has been "decline". The property is in a complex which is well maintained and has amenities such as 24 hour security, club house etc pool, but the single family homes around the area seem to be declining. However, is this accurate? Are property values actually rising? What type of reputation does the area have? Is this a place to hold on to because development is shifting this way or has it seen its glory days and moving into decline? Of course I know this a forum and I'm not looking for expert advice, but I'd like to know your opinions.
-Listennow

[ShellMitch]

I think an important question is do you want to be a long distance landlord?