| |
It's Sunday the 7th of February 2010 a BIG day for Miami: the Super Bowl XLIV is being played here. To make matters even better, the day couln't be a more glorious one: the sun is shinning, the temperature is in the 60's and everybody is in the right mood to celegrate. The Super Bowl coincided with the annual Boat Show thus Miami is filled with enthusiam from head to toe.
Nature has blessed Miami with a great climate, wonderful people from all around the world, the beaches are fantastic, sailing and boating can't be better, you can find great food from all over the globe, the multicultural flavor in culture that makes Miami so special and so many other benefits that are world known keep bringing people to our paradise.
This time of the year is a perfect time to visit Miami and enjoy all it has to offer to adults and children: from entertainment to shopping to eating and leisure at the beaches.
South Florida housing market continues trend
South Florida existing home sales again posted strong gains in July, while median prices tumbled compared with a year ago. Month-to-month price declines mellowed.
In Miami-Dade, July sales of single-family homes were up 64 percent, while the median toppled 40 percent to $192,700. Condo sales also rose by 48 percent. The median condo price also dropped 40 percent to $137,600
Statewide, sales prices dropped 24 percent to $147,600 for single-family homes and 36 percent to $108,300 for condominiums, as sales rose 37 percent and 48 percent, respectively.
Prices have plateaued since the first of the year, however, suggesting that the market may have reached a trough. Month-to-month declines have slowed and even showed gains in some months, as higher-priced homes begin to sell and distressed properties draw multiple bidders, resulting in closings above the list price.
With the months-long surge in sales, the number of homes on the market continue to shrink.
In July, the number of single-family homes in Miami-Dade was down 43 percent since the same month last year, with 9,768 homes on the market for a 13.3-month supply.
Thinking if moving to Miami?
Your personal valuables are precious to you and your family so if you're moving to Miami and you're thinking of hiring a big, full-service moving company, Mayflower Transit looks like your best bet. J.D. Power and Associates, a marketing information company, just released results of its consumer satisfaction survey, and Mayflower pulled in the top score across the board, including overall satisfaction, packing, transportation, loading/unloading, the cost estimate, and insurance options.
Allied Van Lines ranked second among the seven movers in J.D. Powers' report, with scores of "better than most" across the board. Two Men and a Truck, rated average in overall satisfaction. Atlas Van Lines, Bekins Van Lines, North American Van Lines and United Van Lines all scored below average on overall consumer satisfaction.
If your budget allows it, choose to move in the safest way possible: do your research, find out about the above mentioned moving companies and trust your best judgement......and away you go!
Many celebrities from the arts, sports and other professions have chosen Miami, at one time or another, to buy fabulous properties either because they simply love Miami and/or because their professional careers have been centered in this city. Most recently, for example, this has been the case of world known Shaquille O'neal and Alex Rodriguez.
However, destiny brings along choices not foreseen when an original decision was made. Such was the case when both of sports greatest decided to purchase their respective Miami mansions: O'neal and Rodriguez bought espectacular mansions at Miami's Real Estate prime time but when the time came for them to sell these properties they found themselves with no other alternative at a loss. Why? Unfortunately, they were forced to put their homes up for sale precisely when the Real Estate market is going through a downslide situation and Buyers that are still in a position of spending millions of $$$$ on these type of properties are NOT willing to spend the X-tra price tag only because a "celebrity" is the Seller.
Bottom line: A claim to fame does not instantly turn into a draw magnet in a down Real Estate market!
Even the rich are being cautious when the time arrives to spending their money wisely especially if a property is involved. As a Realtor, I have always chosen to price my listings correctly trying to be fair for both the Seller, so he/she/they can sell faster, and the Buyer, so he/she/they can also buy faster.
MIAMI REAL ESTATE TODAY
According to the Florida Association of Realtors (FAR) sales of existing homes and condos in Florida were up again in May for the ninth consecutive month. Even better news: The statewide median sales price in May for existing homes and condos rose over the previous month phenomenon that has occured for nine consecutive months which is a strong step in the right direction.
In these last couple of months Realtors are feeling elated with the pretty nice increase in the number of buyers that are requesting to buy properties in the Southeast Florida area and Miami seems to be leading the pack in volume with a large increase in the sale of existing single-family homes: 597 homes sold in May, compared to 339 in the previous same-year period; Miami also led in condo sales, which were up 36 percent from a year ago.
According to Sean Snaith, director for the University of Central Florida's Institute for Economic Competitiveness, "The improving sales of existing single-family homes and condos is a trend we have been seeing for several months in Florida - what is new in this month's data release is that we are seeing evidence of prices beginning to firm."
Another situation that has come into play refers to the loan market: Realtors are noticing that more home buyers who can get financing are paying full list price for bank-owned properties in an effort to outbid investors with lots of cash. Consequently, these cash investors are being pushed to the condo market where they can bully-down prices because average buyers are having a tough time getting condo loans.
In Sunny Isles Beach Jade Beach Condo Wins Fannie Mae Approval
Jade Beach, a brand new luxury condominium with flow-through units in Sunny Isles Beach recently won Fannie Mae approval. The 51-story oceanfront tower is an oasis unto itself. Sitting and overlooking a glorious beach space in South Florida, also known as Florida's Rivera, minutes away from the most important venues of a cosmopolitan city and nestled among some of the finest shopping in the world - Bal Harbour Shops and the Aventura Mall.
Jade Beach has been referred to as a precious gem in the Western Hemisphere due to its elegance, beauty and character. The Jade Beach expansive Sky Homes were designed with superior modern amenities to define a new standard in luxury living including a direct phone line to Epicure, the epitome of a gourmand's delight, located just across the street. From the latest in Smart Home technology for interactive communication from wherever in the world that you might be, to floor to ceiling glass terraces offering brilliant views of the ocean to the east and the city lights to the west. The 51-story landmark epitomizes spectacular design, and is accented with the finest details such as masterfully crafted Italian Snaidero cabinetry as well as European Miele appliances and private elevators that take you directly to your residence.
Jade Beach has already closed on over 80% of its residences and it's sister building Jade Ocean has just begun its closing process with those privileged buyers that bought in the pre-construction phase.
INTERESTING FACTS ABOUT THE MIAMI DOWNTOWN AREA
The Miami Downtown Development Authority stated in a recent study that despite the economic downturn and a tight credit market that people are filling up condominiums in downtown Miami. The study found that 62% of the 73 condo developments and seven rental apartment buildings in the downtown area that have come online since 2003 are occupied and that lower prices and location are driving the demand.
The recent condo rental programs that have been implemented by concerned developers, who had tons of empty units to deal with and their maintenance costs, are transforming urban Miami attracting more young professionals and making a dent in the oversupply of housing that came along with the condo boom.
The study also found many other interesting facts, such as:
- Of the 21,616 new condominium units completed, 13,337 have closed. Of those, 98.6 percent are occupied.
- Average monthly sales of new units during the past three months increased over the three months prior, with a 12-month average of about 70 recorded closings a month.
- The average monthly sales and leasing activity of new units has been about 350 units a month.
- In 2008, more than 4,200 units were sold, despite the collapsed housing market and general economic recession.
- Of the total inventory of residential properties for sale in Miami-Dade County last month, 26 percent were located in downtown Miami.
- Historically, more than 70 percent of downtown Miami residents were renters. So, the balanced 50-50 mix between owners and renters in new downtown condominiums indicates a steady increase in home ownership among area residents.
Patience and perseverance are showing its rewards!
The Real Estate Market is starting to breathe again!
I just read in the most recent edition of the National Real Estate Report, published monthly by real-time real estate data firm Altos Research, that asking real estate prices are rising in 23 of 26 metro markets thus reflecting the return of some stability in the housing market and were down in just 3 markets.
According to the report, listing prices rose at the fastest rate in the California markets with San Diego up 6.9%, San Jose up 5.3% and Los Angeles up 4.2% and also in Philadelphia up 6.8% in May. Prices in 22 markets are now showing three months of sequential listing price increases. Asking prices fell at the fastest rate in Las Vegas with a decline of 3.7% during May and 7.4% for the most recent three month period.
The report stated that "We are seeing listing prices increases spread broadly across most major markets driven by a combination of seasonal factors, low mortgage rates and restrained inventory growth".
On the other hand, the report also stated that "although recent mortgage rate increases and the general resumption of foreclosures by lenders could imperil this still nascent recovery, we expect the market to continue to surprise on the upside, at least through the balance of the spring and summer periods."
Part of the data included in the report also indicated that the "Inventory levels decreased in a majority of major markets with inventory falling in 14 of 26 markets. Miami has experienced the slowest market turnover in every month since September 2007. San Francisco experienced the fastest rate of inventory turnover at a median of 96 days-on-market, followed by Boston at an even 100 days".
Data in the Real-Time Housing Market Report is based on analysis of over one million properties currently listed for-sale in 26 metropolitan statistical areas (MSAs): Atlanta, Austin, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Houston, Indianapolis, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, Salt Lake City, San Diego, San Francisco, San Jose, Seattle, Tampa, and Washington, DC. The first report was published December 7, 2007 and is released every month.
GOOD NEWS!
Pending home sales rise 6.7 percent in April
Fresh from the press: The number of U.S. homebuyers who agreed to purchase a previously occupied home in April posted the largest monthly jump in nearly eight years, a sign that sales are finally coming to life after a long and painful slump.
The National Association of Realtors said its seasonally adjusted index of sales contracts signed in April surged 6.7 percent to 90.3, far exceeding analysts' forecasts. It was the biggest monthly jump since October 2001, when pending sales rose 9.2 percent.
Economists were encouraged by the report, and stock indexes advanced modestly.
And analysts cautioned prices will take longer to stabilize, because of the glut of unsold properties on the market.
The Realtors' index was 3.2 percent above last year's levels and has risen for three straight months after hitting a record low in January. A nearly 33 percent sales increase in the Northeast and a 9.8 percent jump in the Midwest led the overall surge. Sales contracts rose 1.8 percent in April from a month earlier in the West, but fell 0.2 percent in the South.
The big boost likely reflects the impact of a new $8,000 tax credit for first-time homebuyers that was included in the economic stimulus bill signed by President Barack Obama in February. Since buyers need to finish their purchases by Nov. 30 to claim the credit, "we expect greater activity in the months ahead," Lawrence Yun, the Realtors' chief economist, said in a statement.
Still, Yun cautioned that the pending sales data is more volatile than in the past because many sellers need banks to agree to take less than the original mortgage - a so-called "short sale." That process is often difficult, time-consuming and can wind up falling apart before the deal closes.
Completed home sales rose 2.9 percent to an annual rate of 4.68 million in April from a downwardly revised pace of 4.55 million in March, the Realtors' group said last week.
Sales of inexpensive foreclosures and other distressed low-end properties have even sparked bidding wars in places like Las Vegas, Phoenix and Miami.
I picked up this information for my readers as I am sure that many of them enjoy playing this sport. Miami has top golf lcourses some in which international tournamentes are played: in the city of Aventura you will find the newly renovated Turnberry Golf Course which is part of the Fairmont Hotel; in Miami Beach, there are several excellent golf courses such as the one at La Gorce Country Club or the one in Fisher Island; in south Miami you will find a championship golf course at the Doral Golf Resort and Spa; another fine golf course is the one located in Key Biscayne. Hope you have time to try them all out!
Local business results for golf courses near Miami, FL
|
|
Michele Kolodner
Miami Beach,
FL
More about me…
Optimar International Realty
Address: 18246 Collins Ave, Miami, FL, 33160
Office Phone: (305) 409-3231
Email Me
Miami Real Estate, Miami Beach Real Estate, Miami Beach Condos, Miami Beach Lifestyle, Miami Condos, Brickell area Condos, Miami Beach Luxury Condos, Sunny Isles Beach Condos, Sunny Isles Beach Real Estate, Information on Miami Beach, Information on Miami, Relocation, Executive Real Estate Services.
 Listings
Links
Archives
|
;)
;)
;)
