Opinion
WMG September is Here We Dodged a Dorian Bullet – Let’s Count Our Blessings
2520 N. Dixie Highway • Wilton Manors, FL 33305 Phone: 954-530-4970 Fax: 954-530-7943
By Sal Torre Photo via the City of Wilton Manors, Facebook.
As I wake up to the beginning of September on this Sunday morning, I realize how much we have to be happy about. Thankfully, our date with the ferocious Dorian was a no show. Speaking of no shows, I cannot help but mention Commissioner Resnick’s many recent absences from City Commission meetings. These frequent absences and attending meetings by phone have many thinking that something is not right here in Wonderland. The rumors are swirling around town, but I don’t wish to entertain such gossip on this lovely September morn. Hopefully, our missing commissioner will once again emerge on the dais. Twice a month is not too much ask from our elected officials. Last year, while still Mayor but running for City Commission, Resnick stated that being a City Commissioner would be a lot easier than being Mayor. He seems to be proving his point. Now, let’s get back to the beginning of September. Society has developed certain seasonal rituals over the years such as summer BBQ’s, colorful spring-time festivals, and unwritten fashion Have you joined rules such as, “You simply cannot wear white after the Gazette’s Labor Day.” I think it’s Facebook page? time for a new unwritten rule for this time of year, Do so today “You simply cannot sell to join the Pumpkin-Spiced Lattes before Labor Day!” conversation. was so eagerly anticipated Reports started in early each year. Remember what August that national grandma use to say, “Too chains, eager for increased Facebook.com/ much of a good thing is sales, would start selling groups/WMGazette no good for you.” That is pumpkin-spiced lattes certainly true about pumpkin much earlier than years spice. past. Not willing to wait The most amazing notion till the end of summer and the beginning of the autumn season for about this discussion is that September is such tomfoolery, these eager little beavers here already. It seems like I just put Christmas are no longer waiting for us to put away the decorations away a few months ago and now summer grill, finish our quick trips to the it’s getting close to pulling them out again. It’s Cape, or complete folding away our summer downright scary how fast this year is zipping whites before making sure we have, what by. For me, September signals that the end some call scrumptious, pumpkin-spiced of year is fast approaching, with two-thirds lattes at a corner near you. Looking ahead to three full months of of 2019 now in the past tense. If you haven’t every food item on the grocery shelf having gotten to checking off some items on your a pumpkin-spice alternative, the last thing I yearly To-Do list you better get moving fast, will be looking forward to on Thanksgiving ‘cause 2020 is now just around the corner. Day is that big ole piece of pumpkin pie that Moving past this official end-of-summer
September 11, 2019 • Volume 6 • Issue 17
Publisher • Norm Kent norm.kent@sfgn.com Chief Executive Officer • Pier Angelo Guidugli piero@sfgn.com Associate publisher / Executive Editor • Jason Parsley jason.parsley@sfgn.com Copyeditor • Kerri Covington
Editorial
Art Director • Brendon Lies artwork@sfgn.com News Editor • Sallie James
Correspondents
Sal Torre • James Oaksun
Staff Photographers
J.R. Davis • Carina Mask • Steven Shires
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Sales Manager • Justin Wyse justin.wyse@sfgn.com Advertising Sales Associate • Edwin Neimann edwin.neimann@sfgn.com Advertising Sales Associate • Clark Rogers clark.rogers@sfgn.com Accounting Services by CG Bookkeeping South Florida Gay News is published weekly. The opinions expressed in columns, stories, and letters to the editor do not represent the opinions of SFGN, or the Publisher. You should not presume the sexual orientation of individuals based on their names or pictorial representations. Furthermore the word “gay” in SFGN should be interpreted to be inclusive of the entire LGBT community. All of the material/columns that appears in print and online, including articles used in conjunction with the AP, is protected under federal copyright and intellectual property laws, and is jealously guarded by the newspaper. Nothing published may be reprinted in whole or part without getting written consent from the Publisher, at his law office, at Norm@NormKent.com. SFGN, as a private corporation, reserves the right to enforce its own standards regarding the suitability of advertising copy, illustrations and photographs. MEMBER
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Labor Day weekend, it’s on to the busiest times of year with school, religious holidays, Halloween, Thanksgiving and then on to the end of year whirlwind of the Christmas holiday season straight into the new year. Thinking about certain time periods I would not mind zipping by so quickly, one is definitely this hurricane season. I am not looking forward to any more storms, warnings, near misses or perhaps something worse. Staying prepared, keeping supplies on hand, and taking a few precautionary steps early on will make all that last-minute running around a bit easier on us all. So, take a moment to just relax this September morning. You deserve it! As you relax, keep in mind how lucky we all are to be able to wake up and be able to enjoy a brand new day!! This wonderful uncertainty of a new day is what makes life just better here. Enjoy! WMG
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The Science of Value
Real Estate
Final Thoughts
By James Oaksun Last time, I ended the column with a teaser question: Can we apply the same scientific methods to determine the degree to which price variation in Wilton Manors and nearby neighborhoods is due to the locations themselves? In other words: Can we look at directly competitive neighborhoods from a price perspective and estimate the “cost of entry?” That is, holding everything else constant, assessing the exact same house with the exact same characteristics (e.g., square footage of house and lot, number of baths, presence of a pool or garage, water frontage), how much more are people paying to live in different neighborhoods? I broke my analysis into two parts. First I included the two sections of Wilton (West and North Central, and then East and South Central), compared with the most directly competitive areas with respect to price (meaning, Poinsettia Heights, Oakland Park Corals, Coral Ridge Isles/Knoll Ridge, and Imperial Point). And then, because so many buyers encounter “sticker
Can we look at directly competitive neighborhoods from a price perspective and estimate the “cost of entry?”
shock” with respect to these neighborhoods, I included more “value conscious” neighborhoods (i.e., Middle River Terrace/ Lake Ridge, South Middle River, North Andrews Gardens (separated into the areas north and south of Commercial), and Twin Lakes/Royal Palms). First let’s consider Wilton and its competitors. My analysis found that, holding everything else constant, West/North Central Wilton, Oakland Park Corals, and Coral Ridge Isles/ Knoll Ridge had pretty much the same base price of entry. For Imperial Point, add roughly $20,000 to that base. For Poinsettia Heights, you would pay about $100,000 more, and East/South Central Wilton tops it off at a roughly $125,000 premium to the base. I say again, because it’s important: this would be a total apples to apples comparison of the exact same house, with the exact same characteristics. Now let’s look to the more value-priced segments. Starting with a base of the Twin Lakes/Royal Palms neighborhood,The north section of North Andrews Gardens has a $10,000 premium. South Middle River is about $10,000 over that. The South side of North Andrews Gardens has a roughly $10,000 premium over South Middle River’s value. And, finally, Middle River Terrace/Lake Ridge comes in another $30,000 higher – and thus about $60,000 over Twin Lakes/ Royal Palms. A significant and oft-overlooked driver of the disparity in value is the age of the housing stock. People pay more for
relatively-newer homes in these neighborhoods. Generally speaking, the development in this part of East Broward spread south to north, and east to west. Poinsettia Heights, Lake Ridge, Middle River Terrace and South Middle River came first, up through the mid-1950s. Wilton was next, with most homes originally built throughout the decade of the 1950s. Oakland Park Corals, Coral Ridge Isles, Knoll Ridge, and North Andrews Gardens were built up from the mid-50s through the mid-60s. Then Imperial Point came on line though the 1960s and into the early 70s. Finally, Twin Lakes/Royal Palms was built largely in the 70s. Thus wraps up my look at scientific pricing. Where shall I turn my geekish glaze next? WMG James Oaksun, Florida’s Real Estate Geek(SM), is Broker-Owner of New Realty Concepts in Fort Lauderdale. In addition to having degrees from Dartmouth and Cornell, he is a Graduate of the Realtor Institute (GRI).
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