Florida Agenda

By Dale Madison

When was the last time you heard a Realtor tell you, “It’s an amazing time in the real estate market”?

Dale Russell— the man behind the Dale Russell Realty Network and the “face” of the Five Points intersection billboard— is “bullish” about local real estate, noting that lower inventory around town translates to increased sales.

“It’s the first time in 18 months that there has been a real decrease in inventory, and the first time prices have started to increase,” he notes. “Today, prices are up seven to 11% in Wilton Manors.”

Russell cites the Wilton Station condos as an example of the Law of Supply and Demand, and the evidence of its presence in South Florida’s gay village. He says prices there average $289,000, a jump from previous listing rates, and that just six units are currently available, compared with a year ago when 30 to 40 units were listed. Russell points to this and other markers that indicate a turnaround in the market.

Russell offers L’Hermitage on the beach as an example. The luxury oceanfront condo is now 10 years old, and very stable in terms of residents, with nothing available for sale, an almost unheard-of situation.

He also points to growth in neighboring Miami-Dade County.

“There are over 50,000 units currently under construction there,” Russell notes. “In that market, a group of investors got together and pooled their resources, and are making a huge difference there.”

Closer to home, Russell says that a lot of new growth in Wilton Manors comes from commercial ventures, with new restaurants, bars, and shops opening up along the Drive and Dixie Highway, and that rental prices are once again spiking, another indicator of economic recovery.

He also points to government programs for those with an eye on the real estate market.

“Currently, Fannie Mae and Freddie Mac are offering special incentives for buyers. They understand that they have to step up help restore confidence,” Russell says. Russell—the past President of The Pride Center at Equality Park and, with his business and life partner, Jan Carpenter, an active participant in local charitable activities and service organizations—was instrumental in helping The Pride Center obtain their new location on North Dixie Highway. Although he brokered the deal on the real estate side, Russell and his network refused to accept a commission for the transaction, donating their profit instead to help with The Pride Center’s renovations.

Russell said that it’s important to take what one hears about the real estate market in its proper context.

“You can’t listen to CNN or many of the local newscasts, because they are still talking ‘doom and gloom,’” he advises. “You really need to go online and look at what’s going on with the local markets. Get your facts and figures. Last year there were 11.1 million visitors to Greater Fort Lauderdale, and that exposure is huge, because so many of those people fall in love with the weather and the community, and they translate into potential buyers.”

By Cliff Dunn

The Dale Russell Network, part of the Atlantic Properties International realty empire, is the exclusive listings agent for Forest Trace, the luxury senior living resort community in the Lauderhill subdivision of Inverrary (does the name Jackie Gleason ring a bell, or is Open for Business getting old? – don’t answer that). According to realtor Dale Russell, whose credentials as an LGBT business and community leader include past Presidency of The Pride Center at Equality Park, the adult retirement community offers “luxury resort-style amenities and services for active adults who want more out of life.” For a monthly rental fee, residents experience an active lifestyle with meals, activities – including access to the Inverrary Golf Club – and entertainment all converging to give every day an almost vacation-like feel. And Russell says that the owners, who have historic ties to the Catskills’ legendary Grossinger’s resort, are hoping to make inroads into the LGBT market, opening their amenities to a diverse community of residents.

Russell’s partner (and, you know, partner), Jan Carpenter, says the gay community isn’t the only group Forest Trace is friendly towards. “They are very Realtor® friendly,” says Carpenter, noting that the management of the senior living community is paying renewals to Realtors® in a very timely manner. “We are talking three year, five year renewals – a residual income that they are very consistent in paying.” Open for Business can’t help but think how pleasant it is that there is someone else with a vested interest in the good health and long life of Forest Trace’s residents: their real estate professional.

Feelin’ Groovy

From our Get Well Soon Department (and Don’t Gimme Any Lip About It): Sidelines Sports Bar co-owner Laurie Whittaker has been somewhat speechless of late. After recent episodes of recurring laryngitis, an ear, nose and throat specialist discovered that the Wilton Manors saloon owner and North Miami attorney had two large polyps growing on her vocal chords. Following surgery that went without incident, biopsies found no signs of cancer. Asked by Open for Business how she was feeling, Whittaker responded in her usual soft-spoken manner (and with tongue planted firmly in cheek): “Why does anybody care?” Laughs her partner (and Sidelines marketing director), Jennifer Morales: “I guess that’s the modesty that I fell in love with thirty-plus years ago,” then adds, impishly, “Imagine, a bar owner and an attorney with no voice!”

Everyone Knows its Wendy

The Depot Cabana Bar and Grill has secured the legendary DJ Wendy Hunt to spin poolside this Sunday, July 31, for their Sunday T Dance. Featured at LegendsofVinyl.com, Hunt is known as the Queen Mother of DJs, and is among the longest (and hardest) working of her profession, beginning her thirty-sixth year at the (electronic) tables, and a diverse music playlist featuring everything from Disco to Electronica. Hunt was also pivotal in turning Provincetown into a legendary gay party Mecca. Foregoing nursing school for the turntables in the 1970s, she had her first gig in Boston at Club 1270 (“known as the 12 to regulars,” she reminisces). “You have to have a passion for the music,” says Hunt. Depot co-owner Marc Scharphorn says “that passion will be on display for all to hear and enjoy this Sunday. We are VERY excited to have Wendy spin at The Depot.”

Bless Me, Father, for I have Sinned (Correction)
A photo caption appearing in this column three weeks ago (Open for Business, July 7, 2011: “Cross to Bear”) incorrectly identified Maroone Ford as having purchased a car for Father Bill Collins of Poverello Thrift Store and Food Bank as part of A.J. Cross’ 2010 fundraising event; the caption should have stated that the Ford Focus was purchased thanks to a sizable donation from City County Credit Union. We regret the factual error (but not as much as Florida Agenda creative director Dave Griffiths, who got taken out behind the wood shed by publisher Bobby Blair and editor-in-chief Alex Vaughn, but not in the way he prefers).

By the Numbers (Governor Rick Scott Edition)

According to estimates based upon American Community Survey data, among the states, Florida has the second highest population of LGBT residents, with a +/- 609,219 gay population (representing nearly 5%, or slightly less than 1-in-20, of statewide population), and the Miami/Fort Lauderdale metro area comes in at Number 8 among cities with the highest percentage of LGBT residents within city limits (representing +/- 183,346 person or, again, nearly 5% of total population statistics).
According to data collected by City-Data.com and the U.S. Census Bureau, total spending of LGBT individuals was $712 Billion in 2008.

That same data also revealed that average adjusted gross income for Florida’s LGBT population was $50,523 per annum; median household value was $218,699; median age was 38.7; and average household size was 2.5.

In Broward County’s predominantly gay zip codes (33301, 33304, 33305), those numbers are $87,812 per annum for average adjusted gross income; median household value was $522,158; median age was 40.0; and average household size was 1.9.

If you’re “Open for Business”, you can contact Business Writer and Director  of Sales, Cliff Dunn, with your story at Business@FloridaAgenda.com