Whether you are an Owner of a condo in Arrowhead or you are interested in Renting a Condo in Arrowhead this recent post should give you some good ideas of what to expect regardless if you are selling or renting or both..
Recent Sales in Arrowhead Condo
As of 2011 there were a total of 22 sold condos in the Arrowhead Condo community ranging in prices from $35,000.00 for a 1 bedroom condo and $70,000.00 for a 2 bedroom condo. Now while these are just the lows and highs of all sales for 2011 the averages will vary depending on your particular condo that you are trying to sell at this time. What I can tell you is that as we draw closer to the start of a new school year at Nova Southeastern University we will see an influx of new buyers who will be trying to purchase properties in the area because of the college nearby.
Currently on the market for sale in the Arrowhead Condo community is 3 properties , there are two 1 bedroom condos for sale and one 2 bedroom condo for sale, both of the 1 bedrooms are Homepath properties which are generally government backed bank owned foreclosures, generally speaking these properties seem to always sell higher than another comparable property due to the incentives that Homepath properties offer buyers which will lead to higher sales prices in those situations..
When it comes to my opinion of value for condos in today’s market for the Arrowhead Condo community they are as follows, first lets take into consideration of the overall condition of the condo including if its all original from the 1970’s then you can expect to get on the lower end of pricing but if you have remodeled the kitchen, flooring, bathrooms and so on you can expect the higher end of the sales prices.
The overall average pricing for 1 bedroom condos in Arrowhead range from $37,500.00- $ 45,000.00 while the 2 bedroom condos will range from $ 55,000.00 – $65,000.00 depending on the condition and upgrades that have been done. Now while these are just the overall averages this does not state the actual value of the condo, what a buyer is willing to pay for a property and what an appraiser appraises a condo for sale is two totally different values but its to help buyers and sellers alike get a better understanding of current market values and the overall averages what one could expect in today’s market as of January 10th, 2012.
Recent Rentals In Arrowhead Condos
The rental market in Arrowhead Condos has been very strong over the last year as well with rental prices ranging from $800.00 – $950.00 for 1 bedrooms and $1050.00 – $1200.00 for the 2 bedroom condos with the higher prices leading to furnished condos for rent in the Arrowhead Condo community.
1 Bedroom Rental Prices
In my opinion of actual rental prices in the community of Arrowhead Condos you can expect between $850.00 – $925.00 per month for a nice clean 1 bedroom condo but during the summer time when the new class of Nova Southeastern University college students come into town you can maybe get 25-50 more per month on the average if you have a nice property. Now this does not include having old carpet, flower wall papering and the original appliances but a unit that has some modern touches to it.
2 Bedroom Rental Prices
In my opinion of value of actual rental prices in the Arrowhead Condo community one can expect between $1000.00- $1150.00 per month depending on factors like condition and upgrades and also what floor location the property is located on. Like I said in the previous paragraph about the 1 bedroom units the same still applies, with many more active 2 bedroom rentals on the market like the MLS system which can also be found on Realtor.com you have a higher competition of other 2 bedroom rentals in Davie Florida to compete with. You can not expect to get top dollar if your property does not compare to other rentals in the nearby areas, what this really means is that make sure the property is clean, doesn’t smell, new flooring either new carpet every 3-5 years or tile flooring is what most renters are looking for and newer appliances will help you win over the future renters who will be viewing your rental property.
If you have questions about Buying, Selling or Renting a property in the Arrowhead Condo community I am always just one phone call away.