New Broward County condos nearly double as demand soars

By Paul Owers, Sun Sentinel

More than 4,000 coastal condo units are coming to Broward County as developers trying to capitalize on an upbeat housing market, new data show

The number of units completed, under construction   or planned has nearly doubled over the past year, according to figures from the CraneSpotters.com database created by the CondoVultures consulting firm in Bal Harbour.`

Some analysts wonder whether that's even enough to satisfy demand from wealthy empty-nesters, retirees from the Northeast and opportunistic foreign investors.

Projects stretch from the beaches in Fort Lauderdale and Hollywood to the chic neighborhoods off Las Olas Boulevard.

The former Howard Johnson hotel was demolished this year to make way for the Paramount Fort Lauderdale Beach, a 95-unit building where prices start at about $1 million. The Related Group of Miami last year completed Apogee Beach, a 49-unit oceanfront building in Hollywood that's now sold out.

"People don't want the hassle of mowing the lawn or maintaining the roof," said Dennis Eisinger, co-developer of a handful of boutique condos in Las Olas Isles, east of downtown. "And right now it makes much more sense to buy than rent."

To be sure, Broward is no Miami-Dade County, where more than 27,000 units are completed or in the pipeline, prompting some market watchers to wonder whether Miami-Dade is destined for another downturn like the one that devastated the area from 2006 through 2011.

Wealthy foreigners, mostly from South America, have fueled South Florida's condo resurgence, helping to dissolve the glut of units from the housing crash.

Many South Florida developers are requiring condo buyers to make large down payments — up to 50 percent in some cases. That discourages buyers from walking away from the contracts and gives the developers money to build without having to take out a construction loan.

CondoVultures principal Peter Zalewski said developers are slower to enter Broward because it doesn't have the cache with international buyers that Miami-Dade has.

But he expects more foreigners to move north into Broward as Miami-Dade prices rise. That could prompt another wave of rentals being converted to condos, he said.

"The number of units could get ratched up very  quickly " Zalewski said.

Tim Tebow Buys Golf Estate in Florida

AUTHOR:EMILY HEFFTER
ZILLOW

he huge home former NFL quarterback Tim Tebow closed on recently in Jacksonville is his first completion in a while. The out-of-work player — now a commentator — is headed back to his home state of Florida, where he just paid $1.4 million for a 6,525-square-foot home on a golf course.

Source: IMDb

Tebow, whose career peaked in 2011 while playing for the Denver Broncos, is now working as a commentator for ESPN. It looks like he’ll also be working on his golf game from his lakeside manse on the course at Glen Kernan Golf and Country Club on the south side of Jacksonville.

The house is huge, with stately porches and brick details in the kitchen and sunroom. It has hardwood floors, a big screened back porch and several fireplaces.

Tebow was a college football star at the University of Florida, where he won the 2007 Heisman Trophy.

How to Repair Household Appliances - Problem 3: Gas dryer won't heat—The igniter doesn't heat up

By the DIY experts of The Family Handyman Magazine

Photo 1: Test the wires
Unplug the dryer and disconnect the wires
leading from the back of the dryer to the
burner assembly. Plug the dryer back in
and turn it on. Press the leads of a voltage tester
 into the two terminals. If the tester doesn't light,
 test the thermofuse (Photo 2).

Photo 2: Test the thermofuse
Unplug the dryer and disconnect the two wires
from the thermofuse. Set the multimeter to RX-1
 and place the leads onto each terminal. If you don't get any
reading on the dial, replace the thermofuse.

Photo 3: Lift out the burner assembly
First turn off the gas to the dryer and shut off the gas valve near the burner.
Then unscrew the large nut, remove two or three screws, and lift out the burner assembly.

Photo 4: Test the igniter
Disconnect the igniter wires. Set the multimeter to RX-1
and touch the tips of the probes to the two igniter leads.
 If you don't get a reading, the igniter is bad.

Photo 5: Replace the igniter
Loosen the screw that holds the bad igniter and slide it out.
Slide the new one in, being careful not to touch the charcoal-colored part with your fingers.
Tighten the screw gently. Reinstall the burner and plug in the wires.

Photo 6: Test the flame sensor
Test the flame sensor if the igniter stays on continuously or
the igniter tests “good” but still doesn't glow.
Remove the screw that secures the flame sensor and unplug the wires.
Install a new flame sensor and connect the wires.

Solutions
If your gas dryer isn't heating enough to dry your clothes, first try the simple solutions. Clean the lint screen by washing it in hot soapy water to remove invisible fabric softener buildup. Clogged air passages may cause the dryer to shut down. Also check to make sure the vent isn't clogged with lint where it exits through the wall. Finally, clean out the vent pipe by running a plumber's snake through the outside vent to the dryer opening. Tie a rag on the snake and pull it back through the vent to remove lint buildup.

If your dryer still doesn’t heat, make sure the gas valve is open (handle parallel to pipe) and that the dryer is plugged in and getting power. Then follow the steps shown in the photos 1 - 6. In most cases, one of these repairs will solve the problem. All the repairs we show are simple. You remove a screw or two and plug in a new part. The trick is figuring out which part to replace.

Start by removing the round plug on the front of the dryer or front access panel. Pull out on the lower corners of the panel to remove it. Some panels are held on by screws. Then, with the dryer plugged in and turned on, observe the igniter for clues (Figure C and Photo 4). Normally the igniter heats up and glows, igniting the gas burner.

If the igniter doesn't heat up
First test for a burned-out thermofuse. The thermofuse is a safety device that shuts off power to the burner if the dryer overheats. When the thermofuse burns out, it must be replaced. With the dryer plugged in and turned on, test for power to the burner (Photo 1). If there's no power, unplug the dryer and pull it away from the wall and remove the back panel. If you have a flexible gas connection, you may be able to avoid disconnecting the gas. Otherwise shut off the gas valve and disconnect the gas line where it enters the dryer. Then directly test the thermofuse (Photo 2) and replace it if needed. Also look for a charred thermostat and burned connections at the thermostats and if you see any, replace the thermostats, too. Reassemble the dryer and test it. Replacing the thermofuse or bad thermostats should correct the no-power problem. If not, call a repair service.

Second, test for a bad igniter. If the test in Photo 1 shows there's power to the burner but the igniter isn't glowing, the problem could be a bad igniter. The igniter is easier to test and replace if you remove the entire burner assembly. If you don't feel confident working with gas, call a repair service for this repair. Turn off the gas to the dryer and shut off the gas valve located near the burner (see Photo 3). Make sure the dryer is unplugged. Then unscrew the large nut that connects the burner to the gas valve. Remove the two screws in front that hold the burner assembly in place. There's one additional screw under the burner that you may have to loosen or remove.

With the burner assembly removed, test the igniter with a multimeter (Photo 4). If you don't get any reading on the multimeter, the igniter is bad. Install a new igniter (Photo 5). If the multimeter test shows that the igniter is good, but it still won't glow, it could be a bad flame sensor. Test the flame sensor with a multimeter and replace it if you don't get a reading (Photo 6).

Figure C: Gas dryer details
You'll find the lighter and other parts under the drum

CAUTION!

You'll smell an initial whiff of gas when you disconnect the line. If the gas smell continues, or you smell gas after reconnecting your appliance, leave the house immediately. Do not use a cell phone or switch any lights on or off. Any spark could cause an explosion. Move away from the house and call the gas company or dial 911 for help.

Finding a Bad Credit Mortgage

From the Superpages.com

Finding a bad credit mortgage is possible, although usually the interest rate is higher than with a more conventional mortgage. However, there are sub-prime and other such lenders who may offer fees and terms that are less than advantageous. The key to finding a bad credit mortgage that will allow you to buy a home without exorbitant costs, is to do your research and follow these simple bad credit mortgage tips.

Tips for Finding a Bad Credit Mortgage

Check the reputation of the broker. Visit your local Better Business Bureau website or state commerce agency list to make sure your broker doesn't have any outstanding complaints. It's also a good idea to ask others who have dealt with the broker in the past. Real estate agents, family and friends are an excellent resource.

Never pay an up front fee. While an escrow fee is perfectly normal and acceptable when working with an agent to reserve a home while waiting for financing; it should be considered a red flag or warning if a bad credit lender requires money before they provide any services.

Comparison shop. Some homebuyers mistakenly believe they will be unable to obtain any other type of loan so jump at the first opportunity that presents itself. Always take time to comparison shop when searching for a bad credit mortgage. Remember, chances are you will be required to pay a premium due to your lower credit score, high bills, prior delinquencies or other credit problems, but don't add to the overall cost by including hidden fees or other charges. Ask for a complete breakdown of anticipated expenses including closing costs, terms and other fees.

Obtain an amortization schedule. Go the extra step and obtain an amortization schedule showing all the payments and the amount that will go toward principal or interest pay-down. It can help differentiate loans to compare the long term cost of each.

Save ahead of schedule. As a general rule of thumb, the larger the down payment the more favorable the terms. Work with a reputable real estate agent who specializes in foreclosures or other properties with a strong equity position, then combine the built-in equity with a good-sized down payment to reduce the total debt burden. If you can put 20 percent down, it's possible to avoid many fees including Private Mortgage Insurance (PMI) premiums or other surcharges based upon poor credit.

Shop right. Believe it or not, the actual home and neighborhood will also play a large role in the type of financing you can obtain. Everything from insurance coverage and property taxes to appraisal values are determined by the neighborhood, crime rate, schools and other amenities. Search for a safe home in a low cost area with great schools for the best rates.

Get a C.L.U.E. Ask the real estate agent for a Comprehensive Loss Underwriting Exchange (C.L.U.E.) report prior to making an offer on the home. Each and every property has its own exclusive insurance risk; homes with a higher risk rating cost more to insure and are likely to decrease the amount of extra funds you have left over at the end of the month.

Pay down other debt. The better your credit rating the more favorable the terms on your bad credit mortgage is likely to be; begin by paying back your highest interest rate loans and credit cards and work down from there.

Look for special programs or other incentives. Depending upon your individual circumstance, it may be possible to obtain first-time homeowner or other housing assistance to help with the down payment.

Sign-up for interest rate alerts and lock-in as soon as possible. Interest rates continue to decline including those for a bad credit mortgage. Sign-up for an email notification to keep track of interest rates and then be sure to have your broker lock in when they hit the right target. With a little planning and preparation you can find a mortgage even with bad credit.

Glamorous Childhood Home of Jacqueline Kennedy Onassis for Sale

AUTHOR:EMILY HEFFTER
ZILLOW

A Park Avenue apartment that was the childhood home of Jacqueline Kennedy Onassis is on the market for $44 million.

The art deco-style building was developed by the former first lady’s grandfather, and she lived in the apartment on the sixth and seventh floors of 740 Park Ave while she was in elementary school.

Hedge fund investor David Ganek and his wife, a novelist, are selling the apartment following an insider-trading scandal at Ganek’s firm, the New York Post reported.

The glamorous, historic apartment in a landmark building has 4 bedrooms and 6 bathrooms. The marble entryway includes an elegant staircase, and the entertaining floor houses a library and living room facing Park Avenue.

Upstairs, there is an expansive master suite with 2 marble bathrooms and dressing rooms, plus 3 other bedrooms with en-suite baths.

The apartment is recently renovated, and listing photos offer a peek at the current owners’ art collection.

Serena Boardman, Jeremy V. Stein and Robin Stein hold the listing at Sotheby’s International Realty.