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Old 03-09-2008, 11:05 PM
 
15 posts, read 134,058 times
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Hi, I have been looking at rentals in Hallandale Beach and the DUO condos look interesting. I was wondering if anyone has any info. on these, in terms of what you think of the location, proximity to the beach, commute to downtown Miami, AND about living in that area during Hurricane season. Would we be required to evacuate? Do you like DUO? Do they accept large pets? Any info. would be helpful!
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Old 07-18-2008, 11:22 PM
 
3 posts, read 26,506 times
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Default Duo

I've been watching that building for a few months now along with Ocean Marine & Yacht Club in Hallandale. I think Duo is a very nice building and prices seem to be dropping along with the rest of the South Florida real estate market. What do you guys think is a reasonable price for a 1/1 unit there? About a year ago, the cheapest listing I saw was $299,000. Now it looks like a 12th floor unit was sold for $180,000 as per the Broward County Property Appraiser's website. That's a decent price, but when you factor in HOA of about $400 (conservative) and $350 in taxes and you're still over $1,800 a month. That's assuming there are no special assessments to cover delinquent HOA members.

While it's a nice building, I'm holding out for a cheaper price. I think $150,000 for a 1-bedroom is a reasonable price.

Thoughts?
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Old 07-19-2008, 08:20 AM
 
12 posts, read 41,882 times
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Quote:
Originally Posted by BobbyJ75 View Post
I've been watching that building for a few months now along with Ocean Marine & Yacht Club in Hallandale. I think Duo is a very nice building and prices seem to be dropping along with the rest of the South Florida real estate market. What do you guys think is a reasonable price for a 1/1 unit there? About a year ago, the cheapest listing I saw was $299,000. Now it looks like a 12th floor unit was sold for $180,000 as per the Broward County Property Appraiser's website. That's a decent price, but when you factor in HOA of about $400 (conservative) and $350 in taxes and you're still over $1,800 a month. That's assuming there are no special assessments to cover delinquent HOA members.

While it's a nice building, I'm holding out for a cheaper price. I think $150,000 for a 1-bedroom is a reasonable price.

Thoughts?

Honestly, I don't think it will ever hit the $150k per 1 bedroom. Just my 2 cents.
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Old 08-22-2008, 12:15 PM
 
3 posts, read 26,506 times
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Quote:
Originally Posted by Wedding Fort lauderdale View Post
Honestly, I don't think it will ever hit the $150k per 1 bedroom. Just my 2 cents.
I agree that $150,000 sounds inexpensive in today's market. But if you think about the fundamentals, it's quite reasonable. At $200,000 with 10% down and a 7% mortgage, your principal and interest payment is about $1,200. Add in $500 for maintenance and $300 for taxes and you're at $2,000 a month. Who is the target buyer for a 1-bedroom? A 20 or 30-something professional. Certainly not a couple with a dual income. How many young professionals in South Florida have a net monthly income that could cover this housing cost on top of their student loans, credit card debt, gas expense, etc? This isn't a viable unit for an investor looking to rent it out because they'd be coming out of pocket $500 or $600 a month (generously assuming it's rented 365 days a year).

It's simply a function of what the market can bear. All of these luxury and semi-luxury buildings constructed recently were built on the assumption of buyers obtaining ridiculous teaser loans that were affordable at first, with the hope that prices would keep inflating forever. Now that we're going back to standard banking practices and prices plummeting, the target buyer simply cannot afford these prices. The average income in South Florida is around $50,000. A 1-bedroom condo in Duo really can't command the $200,000+ asking prices. It's a very nice building, but certainly not a "luxury" building like Beach Club or Ocean Palms that could justify those prices.

Only time will tell I guess.
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Old 08-22-2008, 02:21 PM
 
Location: S.E. Florida
392 posts, read 1,199,821 times
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DUO condo's are very nice. Good area.

You are less than 5 minutes to Hallandale Beach and 10 minutes to Hollywood Beach.

Publix supermarket, Panera Bread, Starbucks and some nice restaurants are a stones throw away from those condo's

You are technically in an evacuation zone for category 3, 4 and 5 hurricanes.

Those building are of new stricter building codes with hurricane proof windows etc and wouldn't be surprised if they had generators
to operate elevators etc.

A commute to downtown Miami from there would probably take around guestimate of 45 mins to and hour.
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Old 04-21-2009, 02:53 PM
 
789 posts, read 2,452,928 times
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It's been a few months - has the price on these condos moved any?
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Old 06-26-2009, 11:11 PM
 
3 posts, read 26,506 times
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Quote:
Originally Posted by tonyc View Post
It's been a few months - has the price on these condos moved any?
Yup...there's one on the MLS for $167,000 and another couple for $175,000. Keep in mind those are the asking prices. I think you could probably negotiate those down to $140,000 or so.

The way the real estate market has been going lately, I probably going to wait until late this year or early next year and make an offer. I originally thought $150,000 would be a good price in this building, but I honestly think you could get in here for around $120,000.
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Old 06-28-2009, 05:13 PM
 
Location: Weston, FL
4,342 posts, read 7,223,087 times
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How many bedrooms/bathrooms is that $167K?
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Old 06-07-2011, 08:56 AM
 
1 posts, read 5,753 times
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Default I'm at owner at DUO

Lived here for about one year and absolutely loved this place. I'm renting it now it's a 1 Bed 1 Bath 16th floor. Beautiful Golf Corse views. $1400 a month Their security team works 24 hours and the property is monitored with cameras. Visitors must valet and it does cost money to overnight the vehicle. The property has a movie theatre, pool room, study room, a gym with a steam room and sauna and they also have a tennis court on the seventh floor. Units come with marble floors, which are easy to break and costs a lot of money to fix. Parking for residents is in a parking garage. The location is about a five minute walk to the beach and about a two minute car drive. This unit is also behind a plaza that has a Winn Dixie, Starbucks, Office Depot, several restaurants, Ross, Burlington Coat Factory and across the street is Publix and several other businesses. Definitely a superb location.
You can contact me for more details on the property at 305.807.0959
Thank you
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Old 08-05-2011, 03:13 PM
 
1 posts, read 5,517 times
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Lived there for 3 years, best spot in Hallandale Beach, best security, brand new building about 1 to 2 years ago they changed management and everything went downhill from there, they changed security and soon after a vehicle was stolen from the garage, valet scratched my vehicle ,and also started charging for valet parking (which used to be free), they don't keep up with the lawn maintenance, and as a pet friendly building it brings a lot of mosquitoes. Sometimes grass is too high and most recently very dry. I finally decided to move after loving this building and area for 3 years. It has been a month and they still didn't return my deposit. The Manager is never there, and the assistant does not pick up the phone, called at 4:40 and they won't answer due to " wraping up for the day" calle during the day and they never call back. I work directly with customers and not answering due to "wraping up for the day" 20 minutes before their time to clock out is outrageous, especially in this economy and with so many good hard working people unemployed, and keeping my deposit hostage for over a month is not good for any renter. I seriously hope it improves but with current management it appears will not.
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