|It's a fact. New construction has restarted in South Florida. New Pre-construction projects are mushrooming all over from Miami to Fort Lauderdale. Sunny Isles, South Beach, Brickell and the Downtown Miami are target areas of many preconstruction projects. However, there is new construction in Hallandale and Hollywood, such as Beachwalk, Sage Hollywood, Costa Hollywood. Or In North Miami Beach, the boat friendly preconstruction project of Marina Palms. It's evident that in its initial phase, most of this preconstruction activity in South Florida is aimed at high luxury properties. The value is there. Miami has been rated internationally as one of the areas with the most valuation in luxury real estate last year. Preconstruction contracts lock in the lowest prices for buyers at the inception of the projects. It often happens that, after a few months or even weeks, the developers will gradually increase prices according to the velocity of the sales. Visiting preconstruction sales centers, I have noticed lately a feverish activity in many of these offices. Buyers from other states, foreign investors from Europe and Latin America, as well as local investors are present in high numbers. What many predicted is happening sooner than expected. The inventory of real estate for sale in South Florida is at its lowest and this is the only direction it can go. I expect that in short time we will also see new projects more oriented to middle class and more affordable prices.|
|Looking to sell your home or your condo? Make your listing visible to thousands of visitors of this website, as well as all realtors through the MLS, and the best advertising media. Why settle for less? Call me to find out why I CAN SELL YOUR HOME in record time and at the most advantageous price. By LISTING YOUR PROPERTY with us, you will get an outstanding exposure and the preferential attention of thousands of qualified buyers. I have sold properties at top prices in a incredibly short times. Why settle for less? In a buyers' market, only the most advanced technology, knowledge, and diligence will achieve results. RESALE CONDOS in South Florida are attracting the common investor at this time with exceptional opportunities. low prices, distress sales, make real estate apartments, homes, commercial properties a very interesting alternative of investment in South Florida. Please review our COMMERCIAL PROPERTIES, and find exciting opportunities of great returns.|
Florida Preconstruction Condos Information
Three big development projects on Broward agenda
The former dorms of the Art Institute of Fort Lauderdale could be redeveloped into 205 residential units and 3,000 square feet of commercial space.
The Broward County Commission will consider three new big development projects at its meeting on Tuesday.
The site that currently houses dorms for the Art Institute of Fort Lauderdale could be redeveloped into 205 residential units and 3,000 square feet of commercial space. That’s what the application of 1055 LLC, a Sunrise-based company managed by Jessica R. Hingson, calls for at the 3.4-acre site at 1055 N. Federal Highway.
The developer paid $3.85 million to the Art Institute for part of the property in 2012. They bought a neighboring site for $1 million the following year.
The main campus of the Art Institute is also scheduled to be redeveloped although the school would remain there.
A grocery store could be added to the mix at Oakland Park Station. MYA Properties, an affiliate of North Miami-based I.M.C. Property Management, filed an application to amend the zoning of the 181,732-square-foot building to allow a 19,592-square-foot grocery store tenant, which was not identified.
Oakland Park Station is home to the Funky Buddha Lounge & Brewery and ProdecoTech electronic bicycles.
MYA Properties paid $10 million for the property at 1201 N.E. 38th Street in March.
In Hollywood, RGFK Investment has proposed building 34 townhouses and 34 boat slips at 1840 N. 27th Court, which is just north of Taft Street along a canal. It’s called Hollywood Landings.
The Aventura-based developer, headed by Adolfo Rascovsky and Adolfo Guitelman, paid $1.66 million for the 3.2-acre site in 2013.
From the Florida Business Journal – Aug. 11, 2014
Miami Real Estate
|Among the most luxurious
Hallandale Beach Condos, and Sunny Isles CondosAs an Aventura Realtor and a Hallandale Realtor, I usually recommend the Beach Club as a great option. A new condominium complex right on Hallandale Beach, it consists of 3 buildings right on the sand, on 9 acres and 800 feet of ocean frontage. Tremendous amenities make the difference at the Beach Club in Hallandale. 7 pools, great direct ocean views from the large deck areas, a restaurant, a wonderful spa, a professional two-story gym, modern social areas, the Beach Club Condos are full-service buildings.
Residents of the Beach Club in Hallandale love the overall atmosphere of a world-class beach resort. Beach Club One and Beach Club Three Condos are twin 44- floor structures. Beach Club Two, with 51 floors has some of the best water views. In general, most of the units have either ocean or intracoastal views. As a Beach Club Realtor, I recommend you to check inside the Beach Club Condo units, where top brands appliances, European style kitchens and bathrooms, hurricane-proof windows, complement the overall value.
Brickell Preconstruction Real Estate News
National Association of Home Builders:
AHB: $1,000 price increase blocks 200K from buying
Each $1,000 increase in the cost of a new median-priced home price forces 206,000 prospective buyers out of the marketplace, according to a new study by the National Association of Home Builders (NAHB).
The number of households affected varies across states and metro areas and largely depends on population, income distribution and new home prices.
In Florida, the NAHB study determined that the median new home price is $319,174, and a buyer needed a household income of $86,902 to qualify for a mortgage. Based on those numbers, a $1,000 increase in the price of a new home would block 8,296 prospective buyers from ownership.
Among all states, the number of households who would no longer be eligible to qualify for a mortgage based on a $1,000 increase ranges from a low of 313 in Wyoming to a high of 18,250 in Texas.
"This study highlights the real effects that building regulations have on housing affordability," says NAHB Chairman Kevin Kelly. "Local, state and federal government officials need to know that higher regulatory costs have real consequences for working American families. Oftentimes, these government regulations end up pushing the price of housing beyond the means of many teachers, police officers, firefighters and other middle class workers."
Based on national mortgage underwriting standards and incorporating the latest income distribution data from the American Community Survey and the U.S. Department of Housing and Urban Development, the report contains detailed results for more than 300 metro areas.
The analysis found that an $833 increase in fees paid during the construction process – such as the price of a construction permit or an impact fee – adds an additional $1,000 to the final price of the home.
Measured by local metro areas, the number of households who would be priced out of the market based on a $1,000 increase range from a low of 19 in Napa, Calif. to a high of 5,742 in the New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. area.
Looking at affordable metro areas, where roughly 50 percent or more of households can afford new homes, the priced out effects are typically large and can often disqualify thousands of new homebuyers.
The impact of a $1,000 increase is less severe among some metro areas, but mainly those where the average buyers could not afford a new home in the first place. NAHB cites one Florida city among those – Sebastian-Vero Beach – where less than 15 percent of all household
From FloridaRealtors.org – Aug. 5, 2014
Miami Beach Real Estate News
Citizens wants to lower property insurance rates
Nearly seven out of 10 Citizens Property Insurance Corporation personal-lines policyholders would see rate reductions in 2015 under a slate of rate recommendations being considered today by the Board of Governors in Orlando.
Under the rates proposed by Citizens, policyholders with homeowners policies would see an average decrease of 3.2 percent, while mobile-home owners would see an average 3.9 percent.
The 2015 recommended rates will be submitted to the Florida Office of Insurance Regulation, which must establish rates for Citizens before they take effect.
The lower rates come as a surprise to some observers since Citizens has been trying to raise rates to become actuarially sound, but has been hamstrung by a law that allows it to raise rates no more than 10 percent per year.
"While rates for many policy types and areas have been inadequate in the past, the gradual phasing in of sound rates beginning in 2010 has helped Citizens to attain actuarial soundness in many areas," Citizens says in its 2015 Rate Kit. "Pockets of inadequacy persist, mostly near the coast and for older homes, condos and mobile homes, but the majority of Citizens policyholders will see an actuarially sound rate that is similar to last year's indications or even a bit lower."
From FloridaRealtors.org - June 24, 2014
Hallandale Real Estate News
Sunny Isleshas seen drastic changes in less than a decade. Once a long strip of motels, built in the 50's, it is now home to magnificent high rise Sunny Isles Beach condos. Almost overnight, shops, cafes, restaurants, have made Sunny Isles a fashionable and coveted location. Large condominiums, built in the 70's, such as Winston Towers, Plaza Americas Condos coexist with the new giant structures: Ocean 1, Ocean 2 Condos, Ocean 3, Ocean 4, the Pinnacle Condos, Turnberry Ocean Colony, Acqualina Condos, The Jade Ocean, The Meridien Condos, Millenium Condominiums, The Trump Palace, Trump Towers, Sands Point Condos, Sayan Condos, are just a few in the growing Sunny Isles Condos' skyline. More affordable but still very good options are La Perla Condos,The King David Condos, Porto Bellagio; across from the beach, the Coastal Towers, Arlen House Condos.
In Fort Lauderdalesome new developments draw out attention. Alongside the New River, the River Grand is an example of posh living. Traditional luxury features, such as expansive social areas, lavishly decorated, billiard ad card rooms, fitness center, blend well with state-of-the-art elements, such as floor-to-ceiling windows, large terraces and balconies, marble and granite generously spread on floors, kitchens, and baths. The Nu-River Landing condominiums attract a younger crowd with modern appearance and architecture, a wonderful roof-top pool area, basket ball courts, and the electronic gimmicks you could ask for as far as high-speed internet, central controlled air conditioned, modern gyms, executive rooms and more. Las Olas Riverhouse is another notable venue on the River, as well as the gorgeous riverfront Symphony Condominiums building. If we want to talk top high-end properties, the Harbourage Place, in Harbor Beach is the place to be. I also like Il Lugano condominiums, a new construction, with boat slips, a boaters' paradise. The two L'Hermitage condo buildings, right on the beach, are some of the most desirable options in Fort Lauderdale real estate.
Hollywood Preconstruction Real Estate Information
Senate bill would bring two casino resorts to Miami, Broward
The Florida Senate on Monday proposed a bill that would bring casino resorts to Miami-Dade and Broward counties, reduce dog racing and bring new regulation to the gaming industry.
In addition to licensing two destination resort casinos in South Florida, the bill (SPB 7052) would reduce the number of dog races conducted at the state’s 13 greyhound tracks, and requires that track owners and trainers report dog injuries, according to The Miami Herald.
The changes would take effect this year under the plan, but it also proposes a constitutional amendment to require voter approval for any additional gambling expansion.
Voters in both counties would also have to give their consent to build a destination casino.
House Speaker Will Weatherford, R-Wesley Chapel, said he will not accept any gambling expansion unless the governor signs off on it and negotiates a new compact with the Seminole Tribe. Any expansion in Florida could negate the state's $230 million-a-year contract with the tribe.
From the Florida Business Journal – Feb. 25, 2014
Sunny Isles Estate News
Searching for Florida properties for sale?Are you looking for that relaxing, beach-side resort or do you prefer luxury condominiums in South Florida ? Are you looking for a family friendly South Florida condo for sale?
Sunny Isles Beach real estate is one of the most coveted in South Florida. Numerous choices, a long stretch alongside the beach, provide many great options of Luxury Waterfront Condos in Sunny Isles Beach.
We are seeing new construction and pre-construction projects oriented to the high-luxury segment.
The Jade Signature is an outstanding example, as is the Porsche Design pre-construction building, where you will be able to park your car at the door of your apartment, in the highest floors.
Mansions of Acqualina is another perfectly designed sample of Italian art right in front of the beach.
Regalia, a one-apartment-per-floor pre-construction project, is geared to million-dollars buyers.
The Jade Signature will be another great architectural design of Carlos Ott.
Add this to the recently completed or to be completed St Tropez in Sunny Isles, the Jade Ocean and the Jade Beach, the Sole and the 3 Trump Towers.
Now letâ€™s check what is already existing.
Some outstanding buildings: The Acqualina Condos, which is considered as one of the highest quality properties in Sunny Isles Beach . at 17875 Collins Avenue.
The Jade Beach and the Jade Ocean, upscale construction, wonderful architecture, new waterfront Sunny Isles Condos.
The Trump Royale, the Trump Palace, the Trump Sonesta, and the three new Trump Towers at the South end of Sunny Isles Beach are great options.
The Pinnacle with a very distinctive silhouette, on 175th St. and the beach, was for a long time a Sunny Isles landmark, famous for its elegance and luxurious condos.
The Millenium condominiums, built in 2000, at Collins and 187th Street.
On 173th Street, the Ocean Four, recently completed, is the last of a series of luxury condo buildings in Sunny Isles. The Ocean Two and Ocean One condos, at the very North end of Sunny Isles Beach, are a favorite of luxury beachfront condos buyers. Specially Ocean Two with great amenities and common areas. Ocean Three, a few yards down Collins Avenue, on Sunny Isles Beach, are the next of the series.
Turnberry Ocean Colony on 160th Street and Collins had been considered by many as the top of Sunny Isles Luxury Condos. The property is right on Sunny Isles Beach, and its amenities and luxury are second to none.
We should also consider the Oceania series of buildings, of which some are right on the beach in Sunny Isles, and some across the street and facing the intracoastal canals. On 167th Street and Collins, La Perla Condos provide a good option of Sunny Isles Waterfront properties. Sands Point Condos, at the same location are also beautiful beachfront condos. On the lower price range, the Porto Bellagio condos, the King David condos, the Ocean View Condos, the Ocean Reserve; the Winston Towers at 174th Street and Collins, Arlen House Condos, are more affordable alternatives of Sunny Isles Beach properties.
The Poinciana townhomes on the water are a favorite Sunny Isles Beach real estate option. Other South Florida condos near the beach, can be easily found in cities as Aventura, Hollywood Beach, Hallandale Beach, perhaps the Beach Club Condos in Hallandale. Have you narrowed your search down to luxury condominiums to Miami Beach Real Estate? Did you think about South Beach Properties?
Owning a condominium in the Miami Beach area will place you near the famous South Beach area and it world-famous restaurants, bars, discos, Lincoln Road, and Ocean Drive. Luxury condominiums can be found for sale at Millionaire Row, Indian Creek.
Great condo buildings can be found at North Bay Village, a 10 minutes drive from the Beach.
If you would like to be a little closer to Bal Harbour and its famous Bal Harbour Shoppes, you can find many new, as well as well maintained condo buildings in Bal Harbour at now much affordable prices. Bal Harbour Condos on the beach include some newer buildings such as the One Bal Harbour condos, or the venerable Balmoral Condos, all marble and space, with some great Bal Harbour apartments with wonderful water views. The New Harbour House condos, which are a condo conversion, are the result of gutting a rental building and converting it to a condominium community. Driving South of Bal Harbour, Surfside Real Estate is in a coveted location, with good walking traffic, restaurants and stores, as well as its Surfside condominium buildings right on the beach, such as the Waverly Condos, the Champlain Towers Condos, three attractive buildings, right on the sand. A new condo building, the Azure Condominiums, is an good alternative.
Other Surfside Condos to mention: The Wave Condos, the Manatee Condos, the Spiaggia condominium building, which has been completely gutted and redone. Surfside offers a small town setting which also includes some older Surfside single family homes. South of Surfside, Nobe condominiums can be a good alternative. Nobe or North Beach is an area alongside the ocean, with a stretch of restaurants and entertainment places, blending with the North Beach condo buildings. Luxury Miami Beach condos are an exciting blend of modern and old rehabilitated buildings.
The Blue Diamond condos and the Green Diamond condos, the Fountainebleau condos, the Canyon Ranch condominiums, and many other Miami Beach condo buildings are some of the newer Miami Beach condo developments. Great opportunities are waiting for you since the turn of the market has brought to the market many Miami Beach real estate opportunities, Miami Beach foreclosures and Miami Beach short sales.
If you go further South, you will be able to choose between the older, but now affordable condos in South Beach, or if you can afford it, the high-class condo buildings such as the Continuum condos, the Apogee condos, the Murano at Portofino condominiums, the Icon South Beach condos, the Setai condos, the Il Villaggio condos.
Traditional buildings at the cozy location called Belle Isle are an affordable yet wonderful option in South Beach real estate. Close to Lincoln Road and South Beach lively environment, you will be right at the center of the action, living in an affordable Belle Isle condo. We can present you with different alternative of foreclosure deals, short sales opportunities but, in general, motivated sellers constitute some of the best South Beach real estate buying opportunities.
Florida Condominiums for Sale as an Investment . Florida is one of the premier retirement areas in the world. With its temperate climate, variety of Atlantic and Gulf shore beaches, and plethora of pleasure activities, no wonder it's such a desirable place to own a piece of South Florida Real Estate.
Planning your retirement? It is never too early! Do you see retirement a long way down the road but want the security of owning a vacation villa in an upscale environment like in the Sunny Isles Florida area near Aventura?
Owning your own South Florida property will give you the security of knowing there is always a place for family vacations awaiting you. Amidst your busy life, think of how hassle-free your next vacation will be. No more booking those reservations months in advance or trying to find just the right lodging at the last minute or around peak holiday season. Hallandale Beach Condos can also be a great refuge, with all these entertainment venues, such as the Gulfstream race track and Casino, the new Village at Gulfstream, the shops at Diplomat Mall, restaurants for all tastes and budgets, the beach and the stunning views on the intracoastal waterway, the proximity to Aventura Mall and Downtown Hollywood.
Renting Your Luxury Condominium in South Florida
Owning your own piece of Bal Harbour, Florida real estate will give you the option of using it for you and your family when you choose or renting it to some of the millions of tourists streaming to Florida. You can choose either to be in charge of the advertising and renting details or hire a real estate management company to take care of the details for you. Weighing the pros and cons is important. You will take home more profit being in charge of the vacation villa rental yourself but you will also have to deal with the worries that go along with rental properties. Putting yourself in charge, however, will give you the ability to negotiate deals with your customers and will also allow you to offer specials of your choosing at the best price.
Luxury Condominiums in Aventura
So, youâ€™d rather not take the plunge to own a Florida condominium just yet. Thatâ€™s alright. Some people could choose to rent first which will give you great insight into location and market. Looking for condominiums to rent in all these attractive areas will produce many results. You will have many options from which to choose, all of which can place you near Disneyworld and other major and lesser-known tourist activities. Along with the various opportunities to rent, Aventura Condos and Sunny Isles Beach Condos can offer wonderful opportunities.
Bal Harbour Condos, with the exception of a few new Bal Harbour condo buildings, are mostly in great buildings from the 70's which preserve all their grandeur and luxury, right on Bal Harbour Beach. Surfside Condos give you the opportunity to live in a small city, which has preserved their most beloved wealth, which is the beach. Surfside condo buildings are limited in their height. Surfside streets are friendly and you will notice that it is more of a walking city. Whatever your choice, buying or renting Florida condominiums, you will never regret the once-in-a lifetime opportunity now that prices are at a very low level.
In Hallandalethe three La Mer Condo buildings and the Parker Plaza , right on the beach, have been superbly remodeled. The four Hemispheres buildings on both sides of Ocean Drive are known for a busy social life at the pool deck. The Parker Plaza and Parker Dorado have been partially renovated and are affordable options. The Malaga Towers Condos are a well kept luxury complex on Hallandale Beach. 2080 Condos on the beach attract many foreign buyers. Speaking new construction, the BEACH CLUB is the outstanding value: At the Beach Club you will find great amenities, and beautiful oceanfront pool decks. Their main spa (they have three) is stunning. Wide open ocean and intracoastal views through their floor-to-ceiling windows and glass doors. The 2080 Condominiums in Hallandale are a relatively new construction. They offer nice condos right on the beach, and a balance between luxury and affordability. A few blocks away from the Beach, at the Diplomat Shopping Center, the new DUO twin towers are a great addition to Hallandale Condo market. On the Intracoastal canals, at Three Islands and Golden Isles Drive, consider older but affordable and well maintained buildings such as Oceanview Tower Condo, or the Olympus complex. Golden Isles is a waterfront community of luxury million-dollar homes, most of them with a dock and ocean access. Golden Isles is a great option for boaters who need ocean access; a good location at the limit between Broward and Dade, close to Aventura, Gulfstream Racetrack and Casino, convenient entertainment and shopping areas.
South Florida Foreclosures & Short Sale Information
Builders push buyer incentives as sales slow
With home sales starting to slow, builders are giving buyers more incentives to purchase. Some are going so far as to offer tens of thousands of dollars in
cash incentives as well as free home upgrades.
From FloridaRealtors.org - Oct. 15, 2013
Hollywood Beach Condoshave always been very popular with Canadian snowbirds. There are several condominium buildings in Hollywood, Florida, either on the beach side of Ocean Drive, or across the street, facing the Intracoastal Waterway. Can we mention on this side the Allington Towers condos, the Hallmark condos. On the beach side, right on the sand, let's mention The Wave condos as one of the well designed condo conversions on Hollywood Beach, as well as the Tides Condos, and the Residences of Hollywood. The Quadomain condo towers are also affordable buildings. The luxury developments of Diplomat Residences Condos, and Ocean Palms Condos and the Trump Hollywood appeal to buyers seeking the best options close to the Hollywood Broadwalk. A special mention to the Ocean Palms condos, a new luxury Hollywood building. Right on the Broadwalk, practically on the sand very few but deserving your consideration are buildings as La Playa Condos, or the Baker Tower condos.
|Conveniently located in Hallandale, Golden Isles is a gated community of 304 single family homes. Most are waterfront lots with deep water docks, on wide canals, and easy access to the Ocean. Amenities in Golden Isles include a park, tennis center, playground. For boaters, Golden Isles waterfront homes are some the best choices in Florida. Golden Isles offers a family neighborhood with superbly landscaped homes, many with beautiful architectural designs. Golden Isles is a short distance from Haulover Cut, and easy access to both Ft. Lauderdale and Miami airports. Aventura Mall is a 5 minutes drive, Hollywood Circle with its dining and entertainment venues, Gulf- stream Racetrack & Casino, Mardi Gras Dog Track/Casino, the shops at Diplomat Mall, are exciting options. And of course: Hollywood Beach boardwalk and the cafes and bars on the intracoastal you can reach by car or with your boat and sip a drink while watching a magnificent South Florida sunset.|
What is exactly my function as a Florida real estate agent?Essentially matching buyers with their ideal property. Taking account of age, motivations, way of life, and many other considerations, I must make sure that my client will effectively enjoy living in his Florida property. Regardless of the potential of investment gains which are an important factor, if I know that my client will use the Florida Condo or Florida home only as a Florida rental property, I will direct him differently than another client who is primarily looking for a South Florida vacation home or Florida vacation condo. The education of my real estate clients starts by giving them a chance to discover within all South Florida real estate locations, what better fits their needs. Not only bargain price are essential; Florida Real Estate Agents should always make sure that their clients will enjoy their new home, or if it is a Florida Investment Property, make the most of their new South Florida Property to maximize their future profits or income generation. Showing my clients the tremendous quantity of real estate South Florida Realtors are offering through the Florida MLS system on my website, I make sure buyers of South Florida real estate will get the most valuable MLS information. While I assist my clients with their Aventura real estate needs, I always try to locate the best Aventura Condos or Aventura Homes. Sunny Isles Condos and Hallandale Condos are also on the top of my priorities. Choosing an Aventura Condo, or some luxury Sunny Isles Beach luxury condo without the help of a South Florida area specialist is not the best recipe for success.
Investir a Miami - Agent Immobilier Miami Henry B. Nathan is an experienced Hallandale Realtor and Sunny Isles Beach Realtor, and has a great knowledge of both Dade County real estate and Broward County real estate. Since I am strategically located in Hallandale Beach, I will of course enlighten you with the best Hallandale real estate opportunities; especially the magnificent Beach Club Condos in Hallandale. And at the same time, I can show you the best Hollywood homes for sale, or Hollywood Beach Condos
United Realty Group - Henry B. Nathan is a specialist in Foreign Buyers. If my client is a seller looking to sell his South Florida Condo or South Florida home, I can offer him the most advanced technology and methods, and an outstanding exposure to get his South Florida Condo or Home on the market in the shortest delay, conveniently displayed to the largest quantity of South Florida property buyers.
Although I specialize in Hallandale Florida real estate, I can assist my clients with any and all of their needs in the South Florida area. Prices kept their descending tendency during 2008 and beginning of 2009, in Miami real estate, as well as Miami Beach Real Estate. In Brickell Short Sales and Brickell Foreclosures, there are many great opportunitiesWhy not make the most of the present buyers' market? I can search on your behalf all of the South Beach real estate for sale, as well as Surfside real estate, to find the best deals in South Beach foreclosures and short sale propertie. With prices being reduced so quickly, not only Miami Beach real estate sold as short sale or foreclosure is attractive; Very often, we are finding motivated sellers of South Florida real estate who understand the buyer's market and are ready to negotiate incredible opportunities to purchase real estate in Miami.
I am constantly educating our customers on the fact that they should not assume that real estate in Sunny Isles is best purchased as Sunny Isles short sales or a Sunny Isles Foreclosures. South Florida Short sales and Foreclosures situations could have many pitfalls. I have seen buyers locate Hollywood-Florida properties and Hollywood Beach real estate situations where a seller wants to cash in the small equity still available in his property, and is just not in a distressing or foreclosure condition. Many South Florida oceanfront properties are being gradually absorbed by out-of-town buyers taking advantage of this once-in-a-lifetime-opportunity to own an oceanfront luxury condo in South Florida. Even new homes in Pembroke Pines, or homes in Weston, or Coral Springs homes can be acquired in the same manner. The best real estate in Aventura will not usually be a foreclosure property, but motivated sellers with Homes for sale in Aventura . In Sunny Isles Beach, we have noticed the same pattern. And so many great Sunny Isles luxury condos, on the beach, or across the street from the beach are being sold at prices often half of what they were a couple of years ago.
FORECLOSURES AND SHORT SALES IN SOUTH FLORIDA. Many of our international and domestic clients are asking about Hallandale real estate and Hallandale short sales opportunities; as well as real estate in Aventura and Aventura foreclosures. While it is true that a buyer's market has created a substantial amount of inventory in the form of both short sale properties (properties in which the home value is less than the outstanding mortgage loan.) and foreclosures, this does not necessarily mean they are a good buy. However, they constitute a good field for a search of South Florida foreclosures and South Florida short sales.
Of course, the condition of the property is an important factor. Imagine a seller who is almost sure to end up losing his condo. It often happens that the property is neglected during these long months of uncertainty. No money will be invested by its owner and repairs will be reduced to a minimum. It's not as often as you imagine, but homes could sometimes be deliberately damaged or stripped of accessories and appliances. These are issues that affect the marketability of the property; and while they have to be factored in when presenting an offer for a South Florida Short sale, they can also be a great negotiating asset. Banks do not want to invest a penny in a distressed property. Therefore, many prospective buyers will refuse to even consider a property where they would have to invest time and money to fix and repair. That will automatically limit buyers presenting offers. And a smart real estate investor knows that for every dollar spent repairing a home, he might get a reduction of two or three dollars in the purchase price. In all cases, if you are shopping for a South Florida short sale you better be prepared to be patient. If you are in a hurry or have limited resources, most short sales are not going to work for you.
They typically require far more effort on the part of all parties involved and can be very cumbersome and frustrating. In the Sunny Isles Beach area there are many Sunny Isles Beach Condos going through this process right now. They range from Luxury waterfront condos in Sunny Isles, luxury homes in Golden Beach, Waterfront homes in Golden Isles, to Miami Beach or South Beach Condos. The economic downturn has affected homeowners in all parts of South Florida and at all price levels. I try to recommend that our clients look to purchase homes that are not South Florida short sells but great values directly from motivated sellers. These are usually the best prospects for finding great Hallandale Real Estate, and good values in all South Florida real estate. If you think you might be a candidate for purchasing a short sale property or a foreclosure please let me know. I have a good experience in both selling and buying these types of properties in Aventura and Hallandale, as well as Fort Lauderdale and Hollywood Beach.
Sunny Isles Beach Real Estate News
Sunny Isles Beach Real Estate for Sale
Mortgage Rates for 30-Year Loans Increase for a Second Week
Mortgage rates for 30-year loans climbed for a second week, cutting into affordability as the housing recovery shows signs of cooling.
The average rate for a 30-year fixed mortgage was 4.33% this week, up from 4.28%, Freddie Mac said today. The average 15-year rate rose to 3.35% from 3.33%, the McLean, Va.-based mortgage-finance company said.
While the job market is improving, higher prices and borrowing costs are making it more expensive to own a home. Monthly payments on a median-priced three-bedroom homeâ€”including mortgage, insurance, taxes and maintenanceâ€”rose an average of 21% in the fourth quarter from a year earlier, according to an analysis of 325 U.S. counties by RealtyTrac released today. Mortgage rates jumped to a two-year high in August from near-record lows in May, Freddie Mac data show.
"The cost of financed homeownership is becoming dangerously disconnected with still-stagnant median incomes," Daren Blomquist, vice president at Irvine, Calif.-based RealtyTrac, said in the report.
Starts for single-family houses slumped in January, in part because of unusually harsh weather in much of the U.S. Builders began work on 573,000 homes at an annualized rate last month, down 15.9% from December and the fewest since August 2012, Commerce Department data issued yesterday show.
Confidence among homebuilders dropped in February by the most on record as snowstorms on the East Coast limited prospective buyer traffic, according to the National Association of Home Builders/Wells Fargo sentiment gauge released this week.
From Bloomberg News â€“ Feb. 20, 2014
South Florida Real Estate Information
Study: U.S. has most of world’s affordable markets
The U.S. has the most major markets in the world where buying property is considered affordable, according to the Demographia International Housing
Affordability Study, an analysis of 360 cities in nine countries.
From Florida Realtors.org - Jan. 24, 2014
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