Can Great Beer Predict Future Real Estate Values?
It's no secret that I'm a beer enthusiast. I'm an enormous fan/ supporter of the craft beer industry. My beer tasting palate has led me to some of the finest watering holes the Greater Fort Lauderdale area has to offer. I've taken away a few observations from these places. First, they're busy, really busy. Second, they're in neighborhoods which I believe have great future real estate values.
The three establishments I'm going to touch on are Laser Wolf (located in Flagler Village), Riverside Market (located in Riverside Park), and The Funky Buddha (located in Oakland Park). I'm going to brush over Laser Wolf as it's located in Flagler Village. I believe the neighborhoods resurgence has been well documented and is easy to come by. Instead I'm going to focus on the two less obvious choices, Riverside Park and Oakland Park.
The case for Riverside Park
For those not familiar with the location, Riverside Park is located on the north side of Davie Boulevard. The neighborhood runs east of 95, and south of Broward Boulevard. The western edge is going to be the New River. To put it another way, south of Sailboat Bend and west of Tarpon River. Here's the thing, housing prices in Riverside Park are much, much, lower than that of its neighbors. To be fair the neighborhood does have a dividing line in terms of housing values. Southwest 15th Avenue cuts the neighborhood into two sections. The area to the east of SW 15th Avenue has a number of homes located on the water. Homes to the west of SW 15th Avenue will all be land locked and will sell at a lower price point.
So why do I see value? Go to Riverside Market on a Friday or Saturday night. Take a look around at the crowd. Now start talking to them about real estate. Candace and I are there at least once a week. Once a week I speak to someone looking to buy their first home, feels priced out of Fort Lauderdale, but would love to live in Riverside Park. They just hadn't been told how inexpensive the homes in the neighborhood are. At the time of this posting finding a home in Riverside Park for between $150,000 and $300,000 is not a real problem. I believe the neighborhood has great upside potential. You have fantastic proximity to Downtown Fort Lauderdale, reasonable sale prices, and good beer nearby!
The case for Oakland Park
Last year an investor came to me looking to buy whatever he could get his hands on in Oakland Park. He's a really smart guy. I asked him why Oakland Park. His answer was simple, the schooling system, the location, and the affordability. He only saw prices going up. Fast forward a year, he was more than correct. The section of Oakland Park which is east of North Dixie Highway is gorgeous. Lawns are maintained very well, homes have been updated, and the area has fantastic curb appeal. The Funky Buddha Brewery is on the corner of Dixie Highway. If you drive from Federal Highway west through Oakland Park to get to the Funky Buddha, you see these wonderful homes. However, when you are having a drink at one of the many tables outside of Funky Buddha,and you look across Dixie Highway, you see a much different neighborhood. There are a number of vacant lots, some pretty run down homes, and a number in need of updating. It's this section that I see so much potential in!
Do yourself a favor, visit Funky Buddha, have one of their many amazing craft beers. Pull up a chair, look around the bar. Ask people where they live and work. You'll hear a lot of people that have driven in from Pembroke Pines, Davie, Weston, down from Pompano Beach, or up from Hollywood. Most of them work in Fort Lauderdale. When you ask why they don't live in Fort Lauderdale, you often get told the reason is affordability. I immediately ask if they've seen the area just west of Dixie Highway, the area they can see from the Funky Buddha. Most have not driven through the side streets. Once I take first time home buyers through those streets close to the Funky Buddha, they immediately begin to research Oakland Park. I believe there's an awful lot of upside in select areas of Oakland Park. If you're looking for investments, or to purchase your first home, I'd take a very serious look at Oakland Park.
I work as a Realtor in Southeast Fort Lauderdale. If you’re interested in buying or selling a home, condominium, or townhouse (townhome) in: Rio Vista, Victoria Park, Downtown Fort Lauderdale, Fort Lauderdale Beach, Sailboat Bend, Tarpon River, Croissant Park, Collee Hammock, Wilton Manors, Poinsettia Heights, Coral Ridge, or Las Olas Isles, please feel free to contact me at (786)443-7203 or through my email firstname.lastname@example.org. I am a Realtor that works on Saturdays in order to accommodate those with busy schedules.
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Written By Casey Prindle
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