|I do most of my business in Miami-Dade and Broward Counties, in South Florida. Sunny Isles Beach, Aventura, Miami Beach, Bal Harbour are some of my main markets. Hallandale Beach and Hollywood also concentrate a good part of my business. Fort Lauder-dale, South Beach, Miami, Brickell, and the new areas in Wynwood, Edgewater,Midtown have been attracting many of my clients.
I will present you with numerous options of locations, buildings and homes, so that you can choose what better fits you. Meanwhile you can browse and search on this website.
View Pre-Construction Projects on the "Preconstruction" tab; Search for resale condos on the "Condo Search" tab ; or browse Luxury Homes on the "Luxury Properties" tab.
South Florida Real Estate Information
Fewer buyers bringing all-cash to close
One in three buyers paid all-cash to close on their real estate transactions near the end of 2015, according to data from CoreLogic. The share of all-cash transactions dropped to 33.9 percent in October year-over-year - way down from the 46.6 percent peak reached in January 2011.
However, Florida sales still have a high percentage of all-cash transactions. Nationwide, the state ranked second behind Alabama with 46.7 percent of transactions cash sales - and in two South Florida metro areas, more than half of their October transactions were all-cash sales.
Nationally, the number of all-cash transactions dropped to 33.9 percent year-over-year in October. Still, historically on a pre-crisis average, cash sales tend to make up about 25 percent of the market. CoreLogic estimates that cash sales will return to that level by mid-2018.
Sharp declines in REO sales are the main reason cash sales are steadily dropping, CoreLogic notes. REO sales comprised 7.3 percent of all residential home sales in October 2015, a third of the peak in January 2011 at 23.9 percent.
"Foreclosure completions have fallen substantially over the past few years across the nation," says Frank Nothaft CoreLogic's chief economist. "This has led to a drop in REO sales. Roughly one-half of REO homes are bought for all cash. Thus, the drop in REO has been an important reason for the national decline in the cash share of all sales."
The following states continue to see cash sales remain higher than 40 percent in October:
New York: 46.3%
West Virginia: 44.4%
By metro area, three out of the U.S. top five are in South Florida:
Miami-Miami Beach-Kendall, Fla.: 51.6%
West Palm Beach-Boca Raton-Delray Beach, Fla.: 50.9%
Detroit, Mich.: 50%
Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.: 49%
Philadelphia, Penn.: 48.9%
From FloridaRealtors.org - Feb. 8, 2016
Miami New Construction News
Retail sales in downtown Miami forecast for strong growth, report says
Downtown Miami's retail space is about to grow 22 percent larger, stores are selling for record highs, and rents are pushing upward - all signs of the robust demand for retail in the city's urban core, according to a report commissioned by the Miami Downtown Development Authority.
Integra Realty Resources' report on retail market conditions in greater downtown Miami, from Brickell through the Midtown Miami and Wynwood neighborhoods, found that retail rents have increased 28 percent in the past two years. They averaged $37 to $39 a square foot in late 2015. However, some properties are asking for more than $100 a square foot.
Downtown Miami has nearly 1.43 million square feet of retail under construction.
The highest average asking rent is on Brickell, at $84 a square foot, followed by Edgewater, at $48 a square foot, Midtown, at $43 a square foot, and Wynwood, at $32 a square foot.
"Downtown Miami retailers are generating sales north of $500 per square foot -- a figure that is raising eyebrows and capturing attention from major brands," said Anthony Graziano, executive director of IRR and author of the report. "Considering the substantial growth we have seen across the major demand drivers and the large-scale developments set to deliver, we expect these trend lines to hold steady."
There's a reason for that growth: more people. Based on more the expectation of more residents, workers and visitors, IRR forecast retail spending in greater downtown Miami to increase by 5 to 10 percent over the next three years.
Downtown currently has 6.5 million square feet of retail, with nearly 1.43 million square feet under construction. Work on Brickell City Centre and Met Square is well underway. Miami Worldcenter is reconfiguring its design from an enclosed mall to open-air "high street" retail.
Moishe Mana could add much more retail to the landscape with his projects in Wynwood and on Flagler Street.
IRR said recent retail property sales in downtown traded at capitalization rates below 4.5 percent on average, which means investors were paying higher prices based on cash flow than on typical deals. That shows these investors intend to improve the space and land higher-paying tenants.
According to IRR's review of sales tax reports in 2013/2014, there were $4.47 billion in gross sales in the DDA area, a 3.45 percent annual increase. That's compared to a 1.06 percent increase countywide.
In fact, downtown restaurants saw their profit margins jump 78.4 percent from 2013 to 2014. Last year, nearly 40 new restaurants opened in the area.
Over half of the spending is from visitors, according to IRR. However, residential retail sales should be a bigger factor, as IRR expects downtown's population to increase by 13,300, or nearly 39 percent, in the next three to five years. The study also forecast an additional 7,542 new office workers downtown based on increased occupancy of office buildings and a handful of projects under contraction: Brickell City Centre, Panorama Tower and MiamiCentral/All Aboard Florida. Including office workers and other categories, downtown should have 15,594 more employees.
IRR projected visitors to downtown Miami to increase from 4.42 million in 2014 to 4.74 million in 2017, which would push total visitor spending from $1.45 billion to $1.73 billion. That's assuming the construction of new hotels.
"After years of planning, the pieces of downtown Miami's retail market are painting a picture of diversity, with luxury brands, new-to-market retailers and homegrown entrepreneurs all looking to stake their claim in the urban core," Miami District 2 Commissioner and Miami DDA Chairman Ken Russell said. "We are building a sustainable ecosystem and a livable urban community that can keep Miami on the map for decades to come."
IRR said that the completion of the Frost Science Museum, assuming it solves its budget projects, and the construction of the proposed SkyRise observation tower and ride would draw even more visitors.
Feb 2, 2016, South Florida Business Journal
|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.
Sunny Isles Beach Real Estate nowhas seen more luxury construction and new projects in the last decade:
The main change has been the grade of luxury that tops anything built on South Florida beaches.
Residences by Armani are much mentioned as a top pre-construction project, as is Jade Signature with its multi-million-dollar units.
How can we not mention the Mansions at Acqualina, or the iconic MUSE in Sunny Isles ? However a building that has drawn top attention is PORSCHE DESIGN with its famous “we park your car at your condo door” concept.
Parque Towers on the Intracoastal and Aurora are also great examples of high class new construction real estate in Sunny Isles. Once a long strip of motels, built in the 50's, Sunny Isles 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.
New buildings have populated the beach area since the last 90’s. 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.
Miami Beach Real Estate News
Florida tops list of most-desirable states
For the first time since 2001, Florida - the nation's 27th state - is back on top as Americans' most desired state to live.
When asked where they would most like to live (excluding their current state), Florida landed at the top of the list. Overall, sunshine and waterfront acreage were consistent themes among the most popular states, with California (2) and Hawaii (3) rounding out the top three. However, non-beach states Colorado (4) and New York (5) closed out the top five states.
This year's top five were, for the most part, also top-five honorees the last time this question was asked in 2013, Harris reports. The sole exception is New York, which edged into the top-five after a sixth place showing. Texas, meanwhile, dropped out of the top five to No. 6.
The remaining 9 states on the "top 15" list include diverse geographies, though most do fall within a few general categories:
The coasts are well represented: Along with Florida, the Carolinas - North (7) and South (12) - and Georgia cover most of the southeastern United States beachfront. Meanwhile, Oregon (9) and Washington (14) make for full west coast coverage (when combined with California). Perhaps for some it's not the coast but the warmth, which takes precedence, as landlocked-but-sunny states Arizona (8) and Tennessee (10) also make the list.
Many states have both admirers and detractors, according to Harris.
California may be 2nd on the list of states Americans would like to live in, but it also tops the list of states where Americans would least like to dwell. New York and Alaska may both be top 15 performers when Americans say where they would like to live, but they also round out the top three states where Americans would not want to live (2 and 3, respectively). Mississippi (4) and Texas (5) complete the top 5 for the dubious list, with Alabama (6), Florida (7), Illinois (8), Michigan (9) and the District of Columbia (10) completing the top 10.
Favorite and least favorite cities
Americans continue their love/hate relationship with New York City, which has topped The Harris Poll's list of cities where Americans most want to live for well over a decade - but it also tops the list of cities they'd least like to live.
California and Florida are well represented among the top 10 most desired cities, with San Diego, Los Angeles and San Francisco nabbing the 2nd, 4th and 6th spots for the Golden State, while Miami and Orlando bring the 5th and 10th spots home to the Sunshine State.
Denver, CO (3) fills in the lone gap in the top five, while Honolulu, HI (7); Atlanta, GA (8) and Seattle, WA (9) fill out the rest of the top 10.
The top three cities Americans would least want to live in have remained the same since this question was first asked in 2010 with New York, followed by Detroit (2) and Los Angeles (3). Chicago repeats in 4th place, while Dallas, Texas (5) rounds out the top five. Miami (6); San Francisco (7); Houston (8); Washington, D.C. (9) and Las Vegas (10) complete this less desirable top 10 list.
The Harris Poll surveyed 2,232 U.S. adults online between Nov. 11 and 16, 2015.
Hallandale Real Estate News
RealtyTrac's Year-End 2015 U.S. Foreclosure Market Report finds that foreclosure filings - default notices, scheduled auctions and bank repossessions - dropped 3 percent year-to-year and 62 percent from their all-time high in 2010.
Overall, Florida ranked second nationally in its overall foreclosure rate: 1.77 percent of all homes with a mortgage. New Jersey ranked first with 1.91 percent. States following Florida include Maryland (1.60 percent), Nevada (1.40 percent) and Illinois (1.26 percent).
At the metro level, Florida had four cities in the top 20, though two New Jersey cities - Atlantic City and Trenton topped the list. In third place nationally, Tampa Bay-St. Petersburg-Clearwater had 2.03 percent of mortgaged homes with a foreclosure filing, followed by Jacksonville (2.02 percent) and Miami (1.98 percent). Orlando came in at No. 9.
"South Florida real estate has seen a strong turnaround from our 2008 bottom," says Mike Pappas, CEO and president of Keyes Company, covering the South Florida market. "Many properties have surpassed the peak valuation of 2005. Due to our judicial system, we still have a remnant of foreclosures and short sales working through the system."
It still takes a long time to foreclose in Florida. It's one of only six states where the process took more than 1,000 days in 2015. States where foreclosures took more than 1,000 days include New Jersey (1,180 days), Utah (1,128 days), Hawaii (1,106 days), New Mexico (1,079 days), Florida (1,025 days) and New York (1,010 days).
U.S. 2015 foreclosure numbers
While nearly 1.1 million properties had foreclosure filings in 2015, it was the lowest U.S. annual total since 2006.
For the month of December, foreclosure starts - owners who received their first foreclosure notice - dropped 30 percent year-to-year. It was the sixth consecutive month with an annual decrease in foreclosure starts. Bank repossessions, however - the final stage of the foreclosure process - increased 65 percent year-to-year. It was the 10th consecutive month with an annual increase in REOs.
"In 2015 we saw a return to normal - healthy foreclosure activity in many markets even as banks continued to clean up some of the last vestiges of distress left over from the last housing crisis," says Daren Blomquist, vice president at RealtyTrac. "The increase in bank repossessions that we saw for the year was evidence of this cleanup phase, which largely involves completing foreclosure on highly distressed, low value properties.
In a look at foreclosures by metro area, Blomquist says "local economic problems became a larger driver of foreclosure activity in 2015."
"The median price of a bank-owned home in 2015 was 41 percent below the median price of all homes - the biggest bank-owned discount nationwide since 2006," Blomquist noted. "That may be surprising to some, but demonstrates that in a healthy real estate market, foreclosures are no longer mainstream, but instead are back to being a market niche of properties with problems that many buyers do not want to tackle."
From FloridaRealtors.org - Jan. 14, 2016
Fort Lauderdale Real EstateSome new developments draw out much attention.
We can mention THE GALE HOTEL and Residences, which will be a very nice boutique condominium buildings with only 128 condos,
the attractive RIVA FORT LAUDERDALE ON Ft. Lauderdale Middle River; the magnificent Auberge Beach;
the W Hotel Residences which draws the attention of many local and foreign buyers;
the luxurious Paramount Beach 18 stories new condo building,
the OCEAN RESORT with added luxury waterfront condo units, and its new Conrad Hotel.
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 River-House 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
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.
Hot housing market sparks bidding wars
Buying a house these days can mean putting up a fight. A surprisingly strong housing market this spring has put more homebuyers in the middle of bidding wars in South Florida, buyers and agents say. The race for a place is especially heated for families seeking homes from $200,000 to $400,000, which are harder to come by.
"The words 'Make your highest and best offer' are like nails on a chalkboard," said Judy Trudel, a buyer's agent in Broward and Palm Beach counties.
Sean Zamora is typical of many exasperated buyers. The 32-year-old charter manager for a yacht broker was outbid on four houses in Fort Lauderdale, even though he offered near list price. He suspects that asking the sellers to pay closing costs was the deal-breaker each time.
"It was just a big pain," said Zamora, who eventually bought a two-bedroom home on the east side of town. "You just have to deal with it. What can you do?"
Andy Constant figured he had some wiggle room on a three-bedroom Parkland home listed for $419,900. He bid $380,000, only to be told of another offer at $405,000.
Convinced that bidding eventually would stretch beyond the asking price, Constant and his wife, Rachel, wanted to stand out from the other buyers. So they offered $427,500 and wrote a personal letter to the seller, saying they pictured their son playing catch in the front yard and their daughter riding her scooter in the driveway.
"That was kind of the clincher," Andy Constant, 45, said of the letter. "It gave a personal flavor to the transaction."
The bidding wars are reminiscent of 2012 and 2013, when investors started buying properties in bunches after prices hit bottom. Buyers needing mortgages lost out to cash offers, while some buyers risked losing deals if they took longer than a day to make a decision.
Heavy demand helped give the once-reeling market a boost and led to double-digit price increases in Broward and Palm Beach counties. That pace, though, couldn't continue, and the market cooled in 2014.
Now buyer urgency is back, fueled by loosening restrictions on mortgages and young families eager to find something before the next school year starts, agents say. An improving job market and low mortgage rates also are contributing to the sales binge.
Palm Beach County sales rose 18 percent in April from a year ago, and the 1,743 transactions were the most in a single month since 2004, according to the Realtors Association of the Palm Beaches. Broward had 1,465 sales, up 10 percent from a year earlier, the Greater Fort Lauderdale Realtors said.
Real estate observers had hoped that higher prices would persuade more sellers to test the market, though buyers are still complaining about a lack of quality listings.
Agents say a market balanced equally between buyers and sellers has a six-month supply of homes, meaning it would take that long to sell all of the existing properties if no more were listed. At the end of April, Broward had a 4.8-month supply, while Palm Beach County was at five months, according to the local Realtor boards.
While the two counties are starting to see more lower-priced homes for sale, most aren't in move-in condition, agents say.
"It seems like all the good stuff on the market is gone, and now we're dealing with the listings that don't meet buyers' criteria," said Beverly Rothstein, an agent for Berkshire Hathaway Home Sales. "It could need a new roof or an updated kitchen, or it could be any one of 50 things."
Donna and Jim Stetson started looking for homes in northwest Broward shortly after the first of the year, taking a conservative, if not leisurely, approach.
After losing four houses to more aggressive buyers, the Stetsons zeroed in on a four-bedroom home with a pool and a lake view in the Westchester neighborhood of Coral Springs. The couple was determined not to lose another home and beat out at least one other buyer in offering $5,000 above the $349,900 list price.
"I hate bidding wars," said Donna Stetson, 58, a customer service representative for a software provider. "It's anxious and uncertain and just feels wrong. You give them a full-price offer and you still have to 'win' the house.
"It's not like the old days when you make an offer and get a counter. You know what you're dealing with. In a bidding war, you don't know what you're dealing with."
Keyes Co. agent Beth Patterson said one of her clients is struggling to find a home in her preferred neighborhood, Lauderdale Isles in southwest Broward.
Patterson said the client receives text alerts whenever one of the homes comes on the market. They rush over to look at it as soon as the property is available. In each case, the client lost out to a higher offer or the home already was under contract.
In this environment, agents say, buyers shouldn't get cute. If the home is in good condition and priced close to market value, it probably will attract multiple offers. A strong initial bid and few contingencies are the best bets for striking a deal.
From FloridaRealtors.org - June 1, 2015
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.
Henry B. Nathan
South Florida Real Estate Information
Middle class finds it harder to buy a South Florida home
It's getting harder for the middle class to buy a home in South Florida. Buyers needed to earn $59,869 a year to afford a home that cost the median price of $269,100 in March in Broward, Palm Beach or Miami-Dade counties, the website HSH.com reported.
That's $1,438 more than three months before – when the price of a median-priced home was $4,100 less, according the online publisher of mortgage industry data.
The figure includes principal, interest, taxes and insurance on a median-priced home. It assumes a 20 percent downpayment and no more than 36 percent of gross income used for housing costs.
"It's good news if you are a home seller – but not if you are a buyer," said Keith Gumbinger, an HSH.com vice president.
He blamed South Florida's rising home prices and higher insurance costs for making the three counties less affordable for homebuyers.
Home insurance costs in Florida were up about $700 in a year, Gumbinger said, citing the latest data from the nonprofit Insurance Information Institute in New York. The institute releases insurance costs only by state and doesn't break down regional costs.
It costs $2,084 a year to insure the median-priced home in Florida, he said – the highest in the nation.
Many South Florida homebuyers are stretched financially because wages are lower here than the national average. Median household income in South Florida was $46,946 in 2013, $5,304 lower than the national average, the U.S. Census Bureau reported.
There was some good news, however, Gumbinger said. The average 30-year mortgage rate dropped in the first quarter to 3.87 percent in South Florida, down from 4.09 percent three months earlier, according to the website. But mortgage rates are on the way up across the country. The average rate nationally on a 30-year fixed-rate loan this week was higher than a year ago, Freddie Mac reported Thursday. Even before that, Gumbinger said, lower interest rates didn't offset South Florida's higher insurance costs and rising home prices.
His website looked at home prices, mortgage interest rates, insurance and property taxes in 27 other metro areas that are the largest in the U.S.
South Florida slipped from being No. 18 to No. 19 on HSH.com's affordability list.
The Cleveland area was the nation's most affordable metro area with buyers needing to make only $29,393.54 a year to buy a median-priced home, which cost $105,900.
In contrast, San Francisco was the most unaffordable U.S. metro area with a buyer needing $141,416.54 in yearly income to afford the median-priced home of $748,300, HSH.com found.
From FloridaRealtors.org - June 12, 2015
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