I am a real estate agent specialized in the South Florida area between Miami and Fort Lauderdale. During the previous 3 years, we saw a recovery of condo new construction. It resulted in large part from demand of out-of-town and foreign buyers.
Thank you for visiting condo-southflorida.com. You will find here many tools to prospect and research the South Florida real estate market. I mainly cover the areas between Miami and Fort Lauderdale. Please do nott hesitate to click on the LUXURY PROPERTIES tab. You can also find most of the listings for sale or rent, organized by city/neighborhood. CONDO SEARCH for existing properties; PRE CONSTRUCTION for all new condos sales. Or go on to search SINGLE FAMILY HOMES. You will be able to get a real picture of this real estate market. Then, please call me and I will assist you adequately in finding the most convenient deal. South Florida has become a preferred international destination with a multitude of convenient cities and neighborhoods should be known by an alert buyer. This is the main purpose of this website.
South Florida Real Estate Information
2017 real estate trends
From Realtors.org - Nov. 30, 2016 - Next year's housing market will see slow yet moderate growth, a changing composition of homebuyers and a post-election interest rate jump that could price some first-timers out of the market, according to the realtor.com® 2017 housing forecast.
Realtor.com's 2017 housing forecast
The 2017 national real estate market should slow compared to the last two years. Realtor.com predicts that home prices will increase 3.9 percent, and existing home sales will increase 1.9 percent to 5.46 million homes. Interest rates are expected to reach 4.5 percent due to higher expectations for inflationary pressure.
The homeownership rate will stabilize at 63.5 percent after bottoming at 62.9 percent in 2016, and new home sales should grow 10 percent, while new home starts will increase 3 percent.
Realtor.com's forecast is based on GDP growth of 2.1 percent, a 2.5 percent increase in the consumer price index and unemployment declining to 4.7 percent by the end of the year.
Prior to this month's election, demographics and an improving economy were laying the foundation for a substantial increase in first-time buyers in 2017, but following mortgage rate increases over the last few weeks, realtor.com now predicts first timers will face new hurdles as they navigate the qualification and buying process. It predicts the higher rates in anticipation of stronger economic and wage growth next year, both of which favor buyers. However, higher rates will make qualifying for a mortgage and finding affordable inventory more challenging.
"We don't expect the outcome of the election to have a direct impact on the health of the housing market or economy as we close out 2016. However, the 40 basis points increase in rates in the days following the election has caused us to increase our interest rate prediction for next year," says Jonathan Smoke, chief economist for realtor.com. "With more than 95 percent of first-time home buyers dependent on financing their home purchase, and a majority of first-time buyers reporting one or more financial challenges, the uptick we've already seen may price some first-timers out of the market."
Top housing trends for 2017
1. Millennials and boomers will dominate the market -- The housing market will be in the middle of two massive demographic waves - millennials and baby boomers - that will power demand for at least the next 10 years. Although increasing interest rates prompted realtor.com to lower its prediction of millennial market share to 33 percent of the buyer pool, millennials and baby boomers will still comprise the majority of the market. Baby boomers are expected to make up 30 percent of buyers in 2017.
2. Midwestern cities will continue to be hotbeds for millennials - Midwestern cities are expected to continue beating the national average in millennial purchase market share in 2017. This year, average millennial market share in five of these markets is 42 percent - far higher than the U.S. average of 38 percent.
3. Slowing price appreciation - Nationally, home prices are forecast to slow to 3.9 percent growth year-to-year from an estimated 4.9 percent in 2016. Of the top 100 largest metros in the country, 26 markets are expected to see price acceleration of 1 percent point. Likewise, 46 markets are expected to see a slowdown in price growth of 1 percent or more with Lakeland-Winter Haven, Fla., Durham-Chapel Hill, N.C.; and Jackson, Miss., undergoing the biggest shift to slower price appreciation.
4. Fewer homes on the market and fast moving markets - Inventory is currently down an average 11 percent in the top 100 metros in the U.S. The conditions limiting home supply are not expected to change in 2017. Median age of inventory is currently 68 days in the top 100 metros, which is 14 percent -11 days - faster than U.S. overall.
5. Western cities will continue to lead the nation in prices and sales - Western metros are forecast to see a price increase of 5.8 percent and sales increase of 4.7 percent.
Top 2017 housing markets
Despite a more moderate housing market overall in 2017, strong local economies and population growth will continue to fuel the nation's top markets. The realtor.com 2017 top 10 housing markets based on price and sales gains are:
1. Phoenix-Mesa-Scottsdale, Ariz.
2. Los Angeles-Long Beach-Anaheim, Calif.
3. Boston-Cambridge-Newton, Mass.-N.H.
4. Sacramento-Roseville-Arden-Arcade, Calif.
5. Riverside-San Bernardino-Ontario, Calif.
6. Jacksonville, Fla.
7. Orlando-Kissimmee-Sanford, Fla.
8. Raleigh, N.C.; 9. Tucson, Ariz.
10. Portland-Vancouver-Hillsboro, Ore.-Wash.
These top 10 markets are forecast to see average price gains of 5.8 percent and sales growth of 6.3 percent, which exceeds next year's anticipated national growth of 3.9 percent and 1.9 percent, respectively. But when compared to last year, prices in eight of the top 10 markets are expected to decelerate with only Los Angeles and Tucson, Ariz. showing stronger growth than last year.
Miami New Construction News<
Is it a homeownership crisis or economic crisis?
The housing market has made huge strides after facing one of its worst downfalls in history - but a large segment of the middle class is still struggling when it comes to homeownership.
"The lopsided recovery has shut out millions of aspiring homeowners who have been forced to rent because of damaged credit, swelling student loans, tough credit standards and a dearth of affordable homes," The Wall Street Journal reports.
About 200,000 to 300,000 fewer U.S. households are buying a new home each year, says Ken Rosen, chairman of Fisher Center of Real Estate and Urban Economics at the University of California at Berkeley.
"I don't think we are in a normal housing market," says Lawrence Yun, chief economist at the National Association of Realtors®. "The losers are clearly the rising rental population that isn't able to participate in this housing equity appreciation. They are missing out on [a big] source of middle-class wealth."
Many economists predict that the homeownership rate will start to increase this year after plunging to a five-decade low of 62.9 percent in the second quarter.
However, not everyone sees the rate rising in the future. Some economists say the rate could even fall to 58 percent - or even lower - by 2050, according to Arthur Acolin of University of Southern California, Laurie Goodman of the Urban Institute and Susan Wachter of the Wharton School at the University of Pennsylvania.
"Long-term declines could erase gains made by middle-class Americans since World War II," The Wall Street Journal reports. "Owning a home provides protection against rising rents and has been a key component of retirement saving and wealth creation."
In fact, "the default savings mechanism for American households has been homeownership," Wachter says. "Today we have historic lows for young households in terms of ownership so they're not getting on this path."
From FloridaRealtors.org - Aug. 16, 2016
|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
Underwater homeowners to get more HARP help
Homeowners who owe more than their homes are worth will get another shot at federal help under a new streamlined refinance option announced on Thursday.
The Federal Housing Finance Agency said Fannie Mae and Freddie Mac will be offering a new refinance plan beginning in October 2017. In addition, the agency also announced that HARP - the Home Affordable Refinance Program - is being extended until Sept. 30, 2017. It had been expected to expire in December.
The original eligibility criteria with HARP required the loan to be originated before June 1, 2009, to qualify. But there is no such cutoff date under the new refinance option that begins later next year. Another main difference: Homeowners will be able to refinance more than once.
More than 3.4 million homeowners already have refinanced their mortgages to lower rates under HARP, but more than 300,000 others across the United States still qualify for the current money-saving program. That includes more than 25,000 homeowners in Michigan, more than 27,000 in Ohio and more than 30,000 in Illinois.
The new refinance program is aimed at borrowers who owe far more than the home would sell for now and would not be able to refinance under traditional programs.
"This new offering will give borrowers the opportunity to refinance when rates are low, making their mortgages more affordable and thus reducing credit-risk exposure for Fannie Mae and Freddie Mac," said Melvin Watt, director of the Federal Housing Finance Agency, in a statement.
Housing officials say the new streamlined product is more targeted than HARP. And as with HARP, eligible borrowers will not be subject to a minimum credit score - which can help more struggling homeowners qualify. Another plus: An appraisal often will not be required.
Under the new offering, borrowers must not have missed any mortgage payments in the previous six months. They must not have missed more than one payment in the previous 12 months, and they must have a source of income. To qualify, the underwater borrowers must receive a benefit from the refinance, such as a reduction in their mortgage payment.
Borrowers with existing HARP loans are not eligible for the new offering unless they have refinanced out of HARP using one of Fannie Mae and Freddie Mac's traditional refinance products.
From FloridaRealors.org - Aug. 26, 2016
Hallandale Real Estate News
Jumbo Mortgage Loans - More options now available.
Jumbo loans accounted for 20.3 percent of all first mortgages originated in the first quarter of 2016, up from 18.9 percent a year ago and 5.5 percent in 2009, according to Guy Cecala, CEO and publisher of Inside Mortgage Finance.
Observers say that borrowers have more bargaining power to negotiate the best terms as more lenders offer jumbo loans.
"Over 60 percent of people still don't think they can shop for loans - even rich people. But everything is negotiable," says Doug Lebda, founder and CEO of LendingTree. Mortgage Bankers Association Chief Economist Michael Fratantoni says most jumbo loans end up on bank balance sheets, which means terms and underwriting standards vary widely.
"Borrowers may find more flexibility with lenders that keep mortgages on their own books," adds Brooklyn Law School real estate professor David Reiss. "These lenders can usually take a more individualized approach to underwriting than a lender that sells its mortgages off to be securitized with a whole bunch of other mortgages."
HSH.com Vice President Keith Gumbinger says borrowers may find benefits in dealing with banks they already have a relationship with, and those prepared to give more business to the lender could win such concessions as interest-rate discounts or reduced closing costs or escrows.
From FloridaRealtors.org- Aug. 26, 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 Condos Information
Foreign Buyers pulling back, say realtors.
Rising home prices have undermined foreign buyers' demand for U.S. residential real estate, according to the National Association of Realtors® (NAR).
In January, the median price of existing U.S. homes had increased 67 percent for a buyer from Brazil once the monetary exchange rate is factored into the equation compared to January 2015. For a buyer from Canada, the median price increased 27 percent year-to-year, and 14 percent for a Chinese buyer.
Foreign buyers remain a small chunk of America's housing market. However, pullback could have a disproportionate effect on demand for high-end condominiums in such markets as Miami and Manhattan.
On the other hand, falling foreign demand could help make residences more affordable for U.S. buyers. "Given that the U.S. currently has a housing shortage, any demand pullback helps," says Lawrence Yun, NAR's chief economist.
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.
Home flipping is back .
And Florida a national hot spot.
According to RealtyTrac's Year-End and Q4 2015 U.S. Home Flipping Report, Florida trails only one other state, Nevada, for the number of home flips in 2015. RealtyTrac defines a home flip as a property sold in an arms-length sale for a second time within a 12-month period.
Nationwide, property flipping involved 5.5 percent of all single-family and condo sales last year, an increase from 5.3 percent one year earlier.
"As confidence in the housing recovery spreads, more real estate investors and would-be real estate investors are hopping on the home flipping bandwagon," says Daren Blomquist, senior vice president at RealtyTrac.
Blomquist says it's not just the number of flips that's changing - it's also the people doing the flipping.
"We also see the flipping trend trickling down to smaller investors who are completing fewer flips per year," he says. "The total number of investors who completed at least one flip in 2015 was at the highest level since 2007, and the number of flips per investor was at the lowest level since 2008." The number of active home flippers peaked in 2005.
"More inexperienced home flippers with a smaller financial cushion could be a sign of an over-speculative market, but the data indicates that flippers in 2015 continued to operate within relatively conservative margins," Blomquist says. "Homes flipped in 2015 were on average purchased at a 26 percent discount below estimated market value and re-sold by the flipper at a 5 percent premium above estimated market value."
"The problem with a rise in home flipping is that these sales artificially inflate home prices, making housing even less affordable for buyers and increasing the risk of a bubble," says Matthew Gardner, chief economist at Windermere Real Estate in Seattle.
2015 U.S. homes flipped yielded an average gross profit of $55,000 nationwide - the difference between the purchase price and the flipped price without including rehab costs and other expenses. The average gross return on investment (ROI) was 45.8 percent, up from 44.2 percent in 2014 and 35.3 percent in 2005.
The Miami metro area had the most homes flipped last year in the U.S. -10,658 or 8.6 percent of all Miami-area home sales for the year, a 4 percent year-to-year increase.
Two Florida cities made the top five when looking at flips as a percentage of all home sales. Tampa (9.2 percent of all home sales) andDeltona-Daytona Beach-Ormond Beach (9.1 percent) ranked fourth and fifth, respectively. The three U.S. cities at the top: Memphis (11.1 percent); Fresno, Calif. (9.2 percent) and Las Vegas (9.2 percent).
Looking at the increase in the number of flips as a share of all single-family home sales, Lakeland, Fla., topped the list with a 50 percent increase. It was followed by New Haven, Conn. (up 45 percent); Jacksonville (up 41 percent); Homosassa Springs, Fla. (up 40 percent); and Akron, Ohio (up 37 percent).
"We continue to see distressed properties funnel through the pipeline in South Florida, which makes it ripe for investors to profit in a strong selling market," says Mike Pappas, CEO and president at the Keyes Company in South Florida. "There are always sellers that will discount for a quick cash sale and open the door for astute investors to make a good return by repositioning the property."
Two Florida cities ranked in the top 10 for flippers' return on investment. While Boise, Idaho, topped the list (85 percent increase) followed by Hartford, Conn. (51 percent increase); Ocala came in at No. 3 with a 49 percent increase, and Homosassa Springs followed with a 41 percent increase.
Overall, 8.0 percent of Florida home sales were flips, according to RealtyTrac. Only Nevada, at 8.8 percent, ranked higher. Alabama (7.4 percent), Arizona (7.1 percent) and Tennessee (6.9 percent) rounded out the top five list.
From FloridaRealtors.org - March 3, 2016
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
We specialize in South Florida Real Estate, in most areas in Miami-Dade and Broward Counties.Click on one the following locations for more information
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