MUSEUM OF DISCOVERY & SCIENCE IN FT LAUDERDALE OFFERS THE WHOLE FAMILY A MEMORABLE DAY

 

From the IMAX theater with 3D films for viewers wearing special glasses to the live shark tank which holds a giant megalodon shark, to a cyclone chair demonstrating inertia, you can see more than 200 interactive exhibits.  

 

Enjoy a Turtle walk, watch the playful antics of river otters in their habitat and take a ride through the Everglades in the virtual pressurized airboat in the new $25MM 34,000 foot Ecodiscovery Center which houses the Living in the Everglades exhibit.   Dig for fossils, hang out with bats, see alligators and iguanas.  Experience hurricane force winds in the Storm Center.  Watch the exciting science theater shows.  In one of the nine cockpit simulators you will test your pilot skills.  At the space exhibit, Runways to Rockets, take a simulated trip or Mars or the Moon.  

Across the street you can follow the one-mile Riverwalk Path on ther Las Olas riverfront and watch the boats going by, have lunch or dinner, and partake in the various outdoor fairs and exhibits held occasionally in the Esplanade Park.  A little farther down the block is the Broward Center for the Performing Arts, where you can end the day watching a Broadway play with spectacular sets, music and performers.

Hold your children’s next Birthday Party at the Museum or hold a special event.  Day camp is available for children.  The Explore Store has many educational and exciting games, toys, books and other unique gifts.  Open 7 days a week, admission prices vary.  The Museum strives to provide experiential pathways to lifelong learning in science for children and adults using exhibits, programs and films, and hosts about 400,000 people a year.  The Museum is located off Broward Boulevard, east of I-95; you can follow the signs to SW 5^th Avenue (Commodore Brook Avenue) and turn right- garage is on right and museum on left.   

“THE SKINNY” ON FORECLOSURES IMPACTING THE REAL ESTATE MARKET & SHADOW INVENTORY

150,000 properties were repossessed by lenders in the tri-county southeast Florida area since the 2007 crash.  CondoVultures.com reports that the repossessions equal about half the nearly 300,000 foreclosure actions filed during the same 5-year period.  They estimate than less than half of those properties repossessed by lenders have been resold to buyers.  They further estimate that this rate will continue steadily for the foreseeable future.

There was a 36% drop in year-over-year bank repossessions but that is rooted in part to issues related to the “foreclosure freeze” in 4Q 2010.  Some investors are concerned that purchasing bank-owned properties could lead to future title issues.

With nearly 299,000 notices of default filed against borrowers, the Florida court system was over whelmed with foreclosure actions.  Today lenders plan for a 700-day repossession process with a cost of about $100,000 per property.  Generally bank owned properties generate lower average prices than short sales.

CoreLogic reports that at the end of October 2011 lenders had a “shadow inventory” of 1.6MM distressed properties and repossessed homes they had not yet put up for sale, down 16% from a year ago.  Florida is one of 6 sates accounting for half of these.  CoreLogic says in a healthy market shadow inventory should represent less than one month supply of homes; currently the figure is five months.

National Association of Realtors says 29% of November 2011 sales were short sales and bank owned sales.    Lender Processing Services estimates that there were almost 4MM homes in the foreclosure process or 90-days delinquent at the end of October.

No matter whose estimate we look at, it’s not a pretty picture!

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