Page 4 - CooperatorNews South Florida Expo 2021

Events The CooperatorEvents Expo Returns to South Florida this Fall! fl-expo.com CooperatorEvents is thrilled to announce the return of our in-person Expos! The CooperatorEvents South Florida Expo will take place this winter at the Broward County Convention Center on Thursday, December 9, 2021, from 10:00 a.m. to 4:00 p.m. We have an exciting line- up of exhibitors eager to interact in person, covering every aspect of multifamily living, from board governance, financial plan- ning, and community engagement to roof repair, energy management, and lawncare. Like our past Expos, the CooperatorEvents South Florida Expo 2021 will include a full day of free workshops, seminars, network- ing, and more. And as always, registra- tion and attendance are FREE to all! Visit www.fl-expo.com to see who’s exhibit- ing, get more information, and register as an exhibitor or an attendee. This will be a must-attend event for all condo, co-op, and HOA board members, property managers, residents, and real estate professionals in the Sunshine State! We look forward to see- ing you there in person! Product News New Technology Makes Managing Multiple Offers Easier With a hot condo market, agents rep- resenting buyers and sellers are in some cases juggling multiple offers from vari- ous points of contact. Now there’s an app for that. Residential real estate showing management and market stats technology provider ShowingTime has launched an Offer Manager platform, according to a press release from the company. This year, Offer Manager has helped manage more than 120,000 offers in North America, the release states. “Before Offer Manager, it was the ‘Wild West,’” says broker/owner Michael Barbaro of Huntsman, Meade & Partners Comp in New Haven, Connecticut. “Agents were inundated with multiple modes of offers, including faxes, emails, and even text mes- sages with pictures of offers. Some people didn’t even follow up, so if you weren’t expecting their offer and you didn’t know to look for it, and you’re fielding another 15 or more other offers, it could just be over- looked. The lack of a system was the worst possible scenario for the industry.” Offer Manager works in parallel with ShowingTime’s ‘schedule a showing’ pro- cess and is deployed in Multiple Listing Services (MLSs) throughout the U.S. and Canada. A version for brokers, teams, and individual agents—Offer Manager Premium—is also available, the release notes. “With Offer Manager, listing agents and buyer’s agents have a full view of the status of an offer from start to finish, all from within the interface of their existing ShowingTime showing management ser- vice,” says ShowingTime president Michael Lane. “The same philosophy that has guided the development of our showing manage- ment products was in place here: provide agents with a streamlined process that will pay dividends in efficiency and productiv- ity to fuel their growth.” Trends A Flurry of Evacuations for Florida Condos In the weeks after the tragic Champlain Towers collapse in Surfside, several nearby condos were evacuated due to construc- tion-related concerns. Now some four to five months on, there has been a rash of evacuations in the region—and not always for strictly structural reasons. A Lauderdale-by-the-Sea condo was evacuated in October due to water infiltra- tion into the mechanical area beneath the building, reports the South Florida Sun Sentinel. The moisture rotted away electri- cal conduits, raising the risk of fire or elec- trocution. Residents of the nine-story, 107- unit Crane Crest Apartments were ordered out of their homes with an unknown return date. Due to supply chain delays, authori- ties say the equipment needed to repair the issue may take months to arrive—though a possible temporary fix may allow residents to return in as soon as two weeks, says Jim Hook, the homeowner association’s vice president. A few days before that evacuation, three floors of the 22-story Majestic Towers Condo in Bal Harbour were evacuated after the property manager found chemi- cals “consistent with a clandestine lab ” in a recently vacated unit on the 15th floor, according to reporting from CBS News. Residents on floors 14, 15, and 16 had to temporarily leave the premises due to the explosion potential of the chemicals, later confirmed to be part of a methamphet- amine production lab. Now the Orlando Sentinel reports of another evacuation, this time because of fetid sewage erupting from household drains at the south wing of The Waterway condo in Hollywood. Residents of 15 units in the 50-unit building were told to evacu- ate by the morning of Monday, October 18 due to the unsanitary conditions; the city had already shut off water to the affected wing the Thursday prior when one of the owners, who resides in Davie, reported that “sewage is coming up through the kitchen sink and bathroom toilet. And there’s a river of feces \[flowing\] outside the building onto the grass.” Condo spokeswoman Joann Hussey tells the Sentinel, “The \[sewer\] line is appar- ently sinking, causing a two-foot bend in the pipe, which in turn is causing solid waste and wastewater to back up into sev- eral of the building units on the ground floor.” A plumber is making repairs to pre- vent the remaining units from needing to be evacuated; the south wing residents will not be able to return until the completion of the main repair, which according to Hussey could take four weeks. Transactions Fisher Island Condo is Miami-Dade’s Priciest of the Week Fisher Island off Miami Beach is no stranger to residential superlatives. For the week of October 10, 2021, the island was home to the priciest condo sale: unit 6893 at Palazzo Della Luna, the island’s most recently completed building, reports The Real Deal South Florida. After 650 days (which was also the longest time on market for the period), the developer-held unit sold for $23.8 million—a roughly $2,500-per- square-foot transaction. It was an especially good week for pricey condos sales in Miami-Dade over- all, with dollar volume reaching $124 mil- lion over 176 sales. The previous week’s 183 sales totaled $96.9 million. The average sales price for the week of October 10 was about $705,000, versus $529,000 the prior week, the outlet reports. The second most expensive sale for the week, according to TRD , was the $9.2 mil- lion sale of Regalia unit 10 in Sunny Isles Beach. The full-floor unit traded for more than $1,800 per square foot after 120 days on the market. The least expensive transaction was unit 1015 at W South Beach for $1.8 million, or $1,793 per square foot. The unit spent 171 days on the market, per TRD . Development Proposed Church Land Sale Would Replace School with Condos A church that sits on one of the last available waterfront properties in Brickell, Industry Pulse continued on page 27 4 COOPERATORNEWS SOUTH FLORIDA —EXPO 2021 SOFL.COOPERATORNEWS.COM PULSE EVERYTHING FROM A (ACCOUNTING SERVICES) TO W (WINDOWS). (Sorry, no zebra trainer this year.) BROWARD COUNTY CONVENTION CENTER, FORT LAUDERDALE THURSDAY, DECEMBER 9, 10:00AM-4:00PM FREE REGISTRATION: FL-EXPO.COM