Canadians Seek U.S. Property Bargains

Canadians are snapping up property in the United States. The Canadian “Loonie” is at par with the U.S. dollar for the first time since 1976—an exchange rate that makes homes and condos in the U.S. look like a real deal. Canadian investment in U.S. real estate more than doubled in one year, from 11 percent in 2007 to 23.5 percent in 2008, making Canada the largest foreign real estate investor in the U.S., according to the National Association of REALTORS®. Mark Dziedzic, a former financial planner from Toronto, currently living in Arizona, says, “When the Loonie hit a $1.10, it created a real buzz for Canadians, not only those looking to buy second homes, but we’re also seeing them buying purely from an investment standpoint.”

From Realtor.org - June 29, 2009

Pending home sales inch up in U.S., South

South Florida Business Journal - July 1, 2009

Pending home sales both in the South and across the nation posted a modest increase in May.

New figures from the National Association of Realtors show its Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1 percent to 90.7 in April. That's 6.7 percent higher than in May 2008 when it was 85. The last time there were four consecutive monthly gains was in October 2004, a promising sign for a still deeply depressed housing sector.

A sale is listed as pending when the contract has been signed but the transaction has not closed, which usually takes another one or two months. An index of 100 is equal to the average level of contract activity during 2001, the first year to be examined as well as the first of five consecutive record years for existing-home sales. The Pending Home Sales Index in the South declined 1.7 percent to 92.6 in May, but rose 7.9 percent higher than a year ago.

South Florida Statistics and Market Bottom

Again I ask myself: Is this the bottom of the market? Does this constant reduction in the listings announce the long-due recovery? Prices free-fall appears to have subsided ; in the most coveted locations, at least.

Add to this fact that all construction is at a standstill all over South Florida. In the last two years, only the completion of some projects has added new properties on the market. New projects are almost inexistent.

And the flow of out-of-town buyers and investors has done its job of eroding the inventory. It will go on. The assistance that the Federal authorities are putting in place to help middle-class homeowners are starting to show. The only negative factor has been the last turnaround of mortgage interests, now heading up. Foreclosures and short sales could increase in the immediate future, due to the end of some banks "moratorium" on foreclosures but, so far, we haven’t seen their effect on increasing real estate inventory. This comparison is significant. Not a lot of economics and theories. Just cold facts. As much as 10% less homes for sale in less than three months.

Are we reaching bottom? I am starting to give it some serious consideration.

At United Realty Group Inc. and condo-southflorida.com it's all about buyers of South Florida real estate The education of my real estate clients starts by giving them a chance to discover within all South Florida real estate location, 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 that they 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 Isle Beach real estate properties without the help of a South Florida area specialist is not the best recipe for success. Henry B. Nathan is an experienced Hallandale Realtor and Sunny Isles Beach Realtor, and have a good 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

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. Why 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 sale or a Sunny Isles Foreclosure. 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.

Related’s CityPlace South Tower in 'friendly foreclosure'

In what is being termed as a “friendly foreclosure,” The Related Group is handing over control of its new 420-unit CityPlace South Tower in West Palm Beach to a consortium of partners led by Toronto-based Scotia Capital. The lenders and the project’s developers, CityPlace South Tower, LLC, an affiliate of The Related Group, reached an agreement in which the new partnership will acquire title to all unsold units in the project. Scotia Capital, a subsidiary of Bank of Nova Scotia, filed a foreclosure lawsuit against CityPlace South Tower Wednesday in Palm Beach County Circuit Court. The complaint was based on the $134.7 million mortgage the bank and its partners gave the developer in 2006. The project is 100 percent complete and all construction debts and obligations have been satisfied, Jorge Perez, chairman and CEO of the Miami-based Related said in a press release.

CityPlace South Tower contracted to sell 367 units while the building was under construction. But when the building opened in summer of 2008, many buyers walked away from sales contracts. So far, 39 units have closed. Due to these unit buyer defaults, Related said in a news release that it was necessary for the developer to renegotiate the terms of its construction loan with the lenders, which was scheduled to be repaid in July through proceeds from unit closings. Alicia Cervera, president of Related Cervera Realty Services (RCRS), the exclusive sales agent for CityPlace South Tower, said in the news release that the successful transition between the developer and the new partnership provides significant benefits to current and future buyers. “The lenders are not interested in generating sales in the building through large-scale ‘bulk’ sales and are working with RCRS to ensure that CityPlace South Tower’s integrity is fully protected and that it continues to offer a first-class owner experience,” she said. Brad Scherer, president of Wellington-based real estate brokerage firm Atlantic Western, is working with the lenders as a consultant. He said CityPlace South Tower couldn’t repay the mortgage on time because most buyers didn’t close on the units.

Scherer said the lenders will adjust the prices downward in response to the market and lease some units, but they won’t do a massive discount or convert the building into rentals. They will financially support the condo association and maintain CityPlace South Tower’s amenities, he added. The Related Group will be compensated for continuing to manage the building, Scherer said. That’s a far cry from most foreclosures, where the developer and its principals are often held liable for the lenders’ losses. “I don’t think the recognition of loss has occurred, or maybe it will never occur,” Scherer said. “If the property market comes back and the property is managed in a first-class manner, there may not be a loss.”

South Florida Business Journal - July 1, 2009

Miami developer negotiates Brickell building for half 2005 price

iami developer Tibor Hollo has acquired an office property in Miami’s Brickell financial district for about half the price the seller paid for it at the height of the real estate boom. Hollo, chairman and president of Florida East Coast Realty in Miami, paid about $35 million for the two-tower complex at 1101 Brickell Ave., according to two people familiar with the deal. Africa-Israel Properties was the seller. The cash deal closed Wednesday. Africa-Israel, in partnership with New York-based Boymelgreen Developers, bought the property for $70 million in 2005. The property is currently assessed at $55.1 million, according to the Miami-Dade County property appraiser. The partners parted ways in late 2007, and Boymelgreen is no longer involved with 1101 Brickell. Hollo announced he was buying the office complex in May. At the time, a source familiar with the Class B property said the mortgage was coming due to mature in June. Anglo Irish Bank in June 2007 loaned $62 million to Africa-Israel affiliate Wall Street Commercial Owners, according to Miami-Dade County property records. Calls to Africa-Israel’s New York office were not immediately returned. This discounted deal is the largest office sale in Miami-Dade this year and could set the tone of future transactions. “It is difficult to judge the market by a single transaction,” said CB Richard Ellis broker Chris Lee, who was not involved in the deal. “We don’t know whether [the seller] overpaid or underpaid when they got it. And my suspicion is if this property had been marketed it would’ve likely gotten a higher price.” The office towers totaling 488,449 square feet sit on four acres between Brickell Avenue and Brickell Bay Drive. The 81-year-old developer plans to spend $12 million to renovate the 11-story and 19-story office towers, he said in a prepared statement Wednesday. Hollo did not return a call for comment. The renovations include the reconstruction of 10 elevators, upgraded air conditioning, modernization of bathrooms, redecoration of the lobby and new landscaping around the property. Future upgrades are to include the addition of restaurant and retail space.

In May, Hollo said he would wait for the market to turn before redeveloping the prime site in Miami’s financial district. The property already has permits for a mixed-use project. In 2006, Africa-Israel received approval to build a 70-story building with 554 residential units, 254,000 square feet of office space and nearly 50,000 square feet of retail and restaurant space. But the seller shelved the plan when the real estate market began to decline in mid-2007.

Daily Business Review - July 02, 2009

Sunny Isles

In Fort Lauderdale

Las Olas Riverfront foreclosure sale set

The Las Olas Riverfront mall in Fort Lauderdale is set to fall into the hands of a private equity firm after a public auction date was scheduled.

On June 24, Madeleine LLC, an affiliate of New York-based Cerberus Capital Management, secured a $23 million foreclosure judgment against Las Olas Riverfront Holdings and Boca Developers’ principals Brian Street and James Cohen, according to Broward County Circuit Court records. The public sale of the 256,000-square-foot commercial center in downtown Fort Lauderdale is set for Aug. 27 at 11 a.m. Madeleine has the inside track on acquiring the property by pledging its judgment, which its parent company already controls. After Boca Developers defaulted on a $205 million mezzanine loan to Cerberus, the private equity firm took over several development entities, including Las Olas Riverfront Holdings, in 2008.

Wachovia Bank had the top creditor position on Las Olas Riverfront with the first mortgage. After filing the foreclosure lawsuit last year, Wachovia sold the first mortgage to ACF Riverfront, of New York, which is managed by Jack Cayre, an investor in Midtown Miami. In March, ACF Riverfront sold the defaulted mortgage on Las Olas Riverfront to Madeleine. The move ensures that Cerberus will maintain control of the property, unless another party makes a large bid at the public sale.

South Florida Business Journal - July 1, 2009

Hallandale Beach Condos, and Sunny Isles Condos

Florida Condominiums for Sale

Searching for Florida condominiums for sale? Are you looking for that relaxing, soothing beachside resort or is your preference luxury condominiums near the theme parks and attractions of the central Florida area? Or do you prefer family friendly Florida condominiums for sale that have features that appeal to your kids? Whatever your preference, you will find the accommodations you are looking for. Florida draws new residents and tourists from all over the globe. Florida condominiums for sale are available at beachside or near the beach in cities as Cocoa Beach, Melbourne Beach, Satellite Beach and Indian Harbor. These locations are only 50 minutes from the Orlando, Florida and Kissimmee, Florida attractions area. Have you narrowed your search down to luxury condominiums in the Central Florida area which places you near the hottest attractions such as Walt Disney World, Sea World and Universal, about 2 miles from downtown Orlando luxury condominiums either 2 or 3 bedrooms with a variety of square footage and floor plans. Cane Island is a sprawling planned community that includes very nice Florida condominiums for sale. Architecture is pre 1940’s Orlando, Florida, homes with front porches and narrow streets with sidewalks. Find your dream vacation home in one of the beautiful garden communities, with lots of open spaces with planned amenities which offer family and singles living at its finest. You can find even fully furnished units at a great price.

Florida Condominiums for Sale in the Miami area.

Owning a condominium vacation villa 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 buildings on the beach include some newer building such as the One Bal Harbour condos, or the venerable Balmoral, 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 is 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, can be an alternative. 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 Nobe condominium 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 condominium 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 condominiums, 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. 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 piece of real estate to own. Planning your retirement? It’s never too early! Do you see retirement a long ways 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 lodging 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. It’s important to keep in mind whether it’s allowable to rent your property when purchasing your condominium. Be sure you ask that question when searching for condominium ownership in Hollywood Florida. As they say, owning real estate is one of your best investments and location, location, location is the key to escalating value. With the constant influx of new residents and tourists to the South Florida area, your question about location has already been answered.

Luxury Condominiums in Aventura or Orlando.

So, you’d rather not take the plunge to own a Florida condominium just yet. That’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, consider Short term approved rentals communities, such as the Bella Piazza condos in the Orlando area. Other similar locations are abundant in Central Florida with locations in Kissimmee, near Disney, Orlando, and all spots in between within easy driving distance of theme parks, water parks and Orlando activities. Check www.condo-southflorida.com, for other good opportunities in Sunny Isles Beach, Hallandale, as well as the possibility of purchasing Aventura real estate. This could be a great choice since Aventura with its famous Aventura Mall, its restaurants, movie theatres, will always be a favorite.

Other Luxury Condominiums Purchase - Orlando Area

Just 5 miles southwest of Disney in Polk County, lies the quiet, small town of Davenport, Florida. Davenport is close to Disney, less than 30 minutes away and within easy driving distance of the abundance of Orlando sites. Kennedy Space Center is a little more than an hours’drive and Tampa and Cocoa Beach are accessible within an hour. Tampa is home to Busch Gardens, and Cocoa Beach boasts beautiful beaches and is home to Ron Jon’s surf shop, one of the most famous surf shops in the world. Davenport will give you that needed respite from the hustle and bustle of Kissimmee and city traffic after a long and fun-filled day at Disney. Davenport is only 9 miles from a Super Wal-Mart and boasts a new Publix supermarket close by. Luxury places to stay in Davenport include the Bella Piazza community, boasting 3 and 4-bedroom units fully furnished, and approved for short-term rentals. All wonderfully appointed, the accommodation here offers units with fully equipped kitchens with living and dining areas. Another luxury resort in Kissimee is the Cane Island complex. The Cane Island community offers three to four-bedroom condominiums, at a very reasonable price point. Great amenities, pool, make the Cane Island a valid option. 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 Hallandale

Hollywood Beach Condos

Data suggest more moving out of Fla.

Once the dream of many a retiree and young person seeking to live in paradise, the prospect of living in Florida seems to be less attractive in the current economic downturn. Data from moving companies and the Florida Department of Motor Vehicles suggest that fewer people are moving to the state and, at the very least, an equal number of residents are moving out. Atlas Van Lines moved a total of 5,277 households into the state in 2008, but moved out 6,367 households, according to the moving company’s migration study. Those numbers compare with the 9,069 households moving into Florida and the 7,180 moving out in 2004, when the state’s real estate market was just heating up. Locally, 43 households moved out of Bradenton and 19 moved in between Jan. 1 and June 22 of this year, according to Atlas officials. In a similar study, United Van Lines designated Florida a “balanced” state, meaning roughly as many households moved in as out in 2008.

During the year, 13,487 households moved in and 13,470 moved out, according to the study. The number of out-of-state driver’s license applications in Florida also dropped by 30 percent in a five-year period, from 585,000 in 2003 to 410,000 in 2008. These figures don’t surprise Bob Bartz, president of the Manatee Chamber of Commerce. “I think it’s a reflection of the current economic times,” Bartz said. “It’s anticipated that once people are back in a position where they can sell their homes where they currently live, they will still have a desire to live in Florida. But it appears that people in the Midwest and Northeast are unable to sell their homes.” Bartz noted that Manatee is still feeling the effects of the rampant real estate speculation that took place during the county’s housing boom.

“I think this area got caught up more than other areas in the country,” Bartz said. “All the speculation that took place, and then the quick turnaround, caught up with us. It’s something that’s going to take some time to work out.” According to the United study, the mid-Atlantic states received the most out-of-state relocations. Sixty-two percent of moves in the District of Columbia were from out-of-state people moving in. That figure was 58.2 percent for North Carolina and 56.4 percent for South Carolina. Michigan led the out-bound moves in the country, with 67.1 percent of moving van hauls to other states. Indiana followed with 57 percent out-bound moves, and New York was in third place in terms of emigration, with 55 percent of moves heading to other states. Not everyone puts stock in the data, however. Miranda Oswald, vice president of sales and marketing with Lakewood Ranch Communities, said moving van records and driver’s license applications probably don’t take into account a significant segment of her market: purchasers of second homes. Oswald said 1,700 people came through her office looking for homes in the first quarter this year. Roughly 18 percent of those potential clients were looking for second homes, Oswald said. Out of 55 total sales this year of new product in Lakewood Ranch, 28 of the buyers were from in-state and 27 were from out of state. Of the out-of-state buyers, nine of them — or one-third — were second homes, Oswald said.

“They might not be moving furniture from one place to another,” Oswald said. “So a second-home buyer would not show up in either of those statistics.” Don Schroder is more in the neutral migration camp. The former chairman of the Anna Maria Island Chamber of Commerce and Realtor with RE/MAX Alliance thinks the tide is about to turn. “I think we’ve kind of gone into the neutral position now,” Schroder said. “But I think people are coming back. Our market is so deflated that we’re a tremendous buy.” Schroder said he’s also starting to see renewed interest from foreign and Canadian buyers. Although Manatee County’s unemployment has soared from around 3 percent three years ago to 11.1 percent in May, Schroder notes the county still provides beautiful beaches and the Florida way of life that people are willing to seek out. “There’s a lot of heartache out there,” Schroder said. “But there are also a lot of people who are making a go of it.”

The Bradenton Herald - Jun. 29, 2009

HOW UNITED REALTY GROUP AND HENRY B. NATHAN CAN HELP YOU FIND THAT PERFECT SUNNY ISLES OR HALLANDALE HOME

With United Realty Group South Florida's real estate website you can find your dream home here in Aventura. We offer services for all of the real estate Miami has to offer. We assist our clients in locating Hollywood Florida real estate and other properties located in the South Florida area. When you are looking for Florida real estate you need to make sure that you hire a real estate firm that has the knowledge of the market that is critical to success in today's volatile real estate market.

Miami homes and condominiums are easily searchable with our free buyers and sellers MLS service. With this fantastic and free MLS service you can search for just about any property in the South Florida area that you might be searching for.

If you are interested in Miami Beach real estate you can specify exactly what type of property you are looking for which will save you a lot of time in your search.

All of the Dade County real estate MLS is searchable on our condo-southflorida.com property search page. Just click the “general properties search” button to locate the Miami Beach real estate you have been looking for. The search function is very easy to use and can be modified to search for Aventura homes for sale or luxury condominiums in the South Beach area.

Fort Lauderdale Florida real estate has been rated as one of the best real estate opportunities in the nation for this challenging real estate market. If you want to grab some of the Fort Lauderdale real estate that is available now at discounted prices, you need to take a look at the MLS search function available on our "CONDO SEARCH" page.

There are also great deals available on real estate Hallandale Beach has available now. Many foreign and domestic investors are taking advantage of the favorable buyers market to grab some of the best Hallandale Beach condos available at incredible prices. Although this is a buyers market real estate in Aventura that can still be sold effectively if it is priced and marketed effectively.

Real estate in Sunny Isles as a whole has been challenging, but our sellers are finding that the best properties, if marketed and priced to sell (from the beginning) have a high percentage of success sales. In short, you should not hesitate to purchase or sell Florida Condos or Florida Homes, if you have the opportunity to do so. With homestead portability you can transfer to your new residence a portion of the tax credit you have built up over the years in your current Florida home. This makes Sunny Isles Beach Condos in the South Florida area even more realistic to afford. With lower prices on new homes in Miami it is a great time to buy.

The real estate South Florida has to offer is diverse in price and amenities and it is critical that you have a Realtor representing your interests in your purchase or sale. When you set out to look for homes for sale in Aventura Florida, seek the help of a qualified realtor like United Realty Group – Henry B. Nathan. I can help with everything from Hollywood Beach real estate to a luxury home in Palm Beach, or a modern condo in Brickell Avenue. With the real estate Miami Beach has seen changing hands lately, it is very important to have a qualified real estate agent represent you in your transaction and to make sure you get the best price. Shopping and finding the right Hallandale real estate requires the assistance of a great real estate agent. I can provide the service to make sure you get the right property at the right price. Search for Sunny Isles Beach Real Estate with our free buyers MLS search service. Whether or not I represent you, your South Florida Real Estate MLS search is free and very easy. Because the seller pays the commission, it does not cost you anything to have professional representation in your next real estate transaction. Miami Beach Real Estate MLS is hot right now with values in all price ranges including luxury waterfront real estate.

Miami Beach Florida Real Estate is priced to sell right now and is viewable on our free MLS search. Aventura Real Estate is easily searched with a click of the mouse and you can see properties in all your favorite neighborhoods. Your search for Miami real estate can be narrowed down to your desired neighborhood like Downtown Miami, real estate, or Brickell Avenue Real Estate. Hollywood Florida real estate is a buyers market as it is in many parts of the nation and with Surfside real estate continuing to grow and thrive economically, it is a great place to buy real estate and always a great place to live and work.

Please call Henry B. Nathan at United Realty Group for your next home sale in Pembroke Pines. I am ready to assist you now in your search for your new home. Both Aventura and Sunny Isles FL Real Estate are a fantastic buy right now so don't hesitate to buy your next home now. After all, it does not hurt to look. Prime Sunny Isles Florida Real Estate is for sale here and searchable with our free Realtor MLS search. Hallandale Real Estate sales ais still brisk in spite of a buyers market. Miami Beach Real Estate is also ready to move, given the drastic price reductions that have been taking place over the past 24 months. South Beach Florida Real Estate is searchable on our Miami MLS and you can view everything from a simple condo to the most luxurious homes on our MLS.

South Beach Real Estate can be a great investment or a vacation home. There are many opportunities for second homes available right now and the prices have never been better. North Bay Village Real Estate is a great buy for a first time buyer right now. There are home throughout the Hollywood, Florida area that are great values for first time buyers.

Aventura Florida Real Estate remains one of the best values in the nation. For a Home Sale in Aventura call Henry B.Nathan at United Realty Group. For a Sunny Isles Condo, you can contact me by phone or email to assist you now and help you find your new Florida home.

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Rebound in Home Prices May Take Awhile

Housing analysts say that while sales are picking up, home prices are likely to continue dropping at least through mid-2010, and some prognosticators say until 2013. The pessimists point to a rising number of option ARMs and Alt-A mortgages that are likely to reset in the next 18 to 24 months, leading to still more foreclosures. "We're about two-thirds of the way through the pricing correction on a percentage basis," says Joshua Shapiro, chief U.S. economist with MFR Inc., an economic consulting and analysis firm. He predicts that prices will fall another 20 percent over the next 18 months.

"This is clearly the worst housing crisis since the Depression," says John Burns, president of John Burns Real Estate Consulting. "I think that once prices bottom out, they're going to stay flat for several years."

From Realtor.org - June 19, 2009

Bank woes linger as failures mount

If the banking industry is now in the "clean-up phase," as a top regulator puts it, the mops will be working overtime in Florida. Florida's financial institutions lost a combined $643 million in the first quarter of 2009. More than half of the banks and three-fourths of the thrifts were unprofitable. Still grappling with the real estate crash, only three of the 21 banks based in Sarasota, Manatee and Charlotte counties turned a profit in the first quarter. BankUnited, the largest Florida-based bank, failed last month, costing the Federal Deposit Insurance Corp. an estimated $4.9 billion. It was the third Florida bank to go under this year. Forty U.S. banks have failed as of June 25, compared with 25 in all of 2008 and just three in 2007.

But there are some glimmers of hope.

After the near collapse of the financial system, major U.S. banks are posting big profits. Bank of America, JPMorgan Chase, Citigroup and Wells Fargo all earned money in the first quarter after a lousy 2008. Banks are showing "baby step" improvements, said Karen Dorway, president of BauerFinancial Inc., the bank analysis firm in Coral Gables. "We are still seeing some increases in non-performing loans, which isn't a surprise," Dorway said. "But the rate of increase has slowed down considerably. "Profitability was better in the first quarter than it had been in the fourth quarter. Overall, capital is better than it had been in the fourth quarter," she said. But foreclosures continue to rise, exacerbated by increasing unemployment, and mortgage holders still face a tough time refinancing, she said. In its latest analysis, Bauer rated 21 Florida banks at zero, its lowest grade. That was up from 19 in the fourth quarter and 11 six months earlier. Century Bank and First State Bank of Sarasota, Community National Bank of Sarasota County in Venice, and Flagship National Bank in Bradenton were listed among Bauer's weakest banks in the state. So were Orion Bank of Naples and Florida Community Bank of Immokalee, which operate branches in this region.

Horizon Bank of Bradenton, Charlotte State Bank of Port Charlotte and Englewood Bank were the only locally based banks to post a profit in the first quarter. The region's five start-up banks -- those less than 2 years old -- are expected to lose money. The FDIC's list of "problem" banks jumped to 305 in the first quarter, the most since the 1994 during the S&L crisis. The combined assets of those banks hit $220 billion, from $159 billion three months earlier. Most of those troubled banks do not fail, regulators say. And while failures are up this year, many are smaller in size than in 2008, when Washington Mutual became the largest U.S. bank failure and IndyMac Bank was the costliest to the FDIC insurance fund. Bauer ticketed 10 percent of the nation's banks and thrifts for its "troubled or problematic" list, those it grades at two stars or below. That is up from just 4 percent of institutions a year ago.

Just 56 percent of the banks made Bauer's "recommended" list with grades of five or four stars, down from 67 percent one year earlier. Nervous bank customers were comforted when the federal government extended the new $250,000 limit on deposit insurance through 2013. It had been set to expire this year.

'Tremendous challenges'

The nation's 8,246 banks and thrifts earned $7.6 billion in the first quarter, a decline of 61 percent from the year before. Three out of five banks posted lower profits, and one in five was in the red. Those banks set aside $60.9 billion in provisions for future loan losses, a nearly 64 percent increase over the year. "The first quarter results are telling us that the banking industry still faces tremendous challenges, and that going forward, asset quality remains a major concern," FDIC Chairman Sheila Bair said about the first-quarter report. "As I see it, we're now in the clean-up phase for the banking industry. It will take some more time. But in the end, we'll have a stronger banking industry that's better able to met the demand for credit as the economy recovers," she said. Florida's 266 commercial banks lost $166 million in the first quarter, off from a $72 million profit one year earlier. Some 57 percent of those banks were unprofitable this year. Their ratio of nonperforming assets to total assets more than doubled to 4.78 percent from 2.02 percent, further evidence of the severe downturn in housing and real estate values. The state's 37 thrifts fared worse, losing $477 million in the quarter compared with a $68 million loss last year. A total of 78 percent of those thrifts lost money. Their ratio of nonperforming assets to total assets jumped to 7.74 percent from 2.90 percent. Many Florida banks are looking for fresh capital, but few are finding it. Private investors, led by veteran banker John Kanas, took over the failed BankUnited and its 86 offices, along with assistance from the FDIC. An investor group plans to pump $10 million into Community Bank of Manatee for a sizable ownership stake. That will strengthen the bank's capital levels and allow it to boost lending.

Long-time Manatee banker William Sedgeman, Community's chairman and CEO, called the investment "the best and most exciting event" in the bank's 14 years. Capital levels have improved for many banks this year, Dorway said. Federal funding through the TARP program has replenished capital, and many banks have slashed or stop paying dividends, which preserves capital. A committee of bank economists for the American Bankers Association believes the recession will end during the third quarter, even though high unemployment and large federal deficits will linger. "The economy will return to growth, but not to health," said Bruce Kasman, chief economist with JPMorgan Chase. "Growth in the coming quarters is likely to gather momentum but will not prove sufficiently robust to undo much of the severe damage done to our labor markets and public finances."

Sarasota Herald Tribune – June 29, 2009