|Three new projects in preconstruction will occupy me today. Quite different indeed but similar in the boutique size of the developments, an exquisite attention to luxury and modern lifestyle in typical Florida nature set-ups. The Parkside Estates: Luxury estate homes on very large lots (35,000 Sq. Ft.) in an area that mixes the urban with the heroic rural way of life. Davie is still all about wide spaces, green acres, vegetation and oak trees. Only eleven homes in a great community. Then we have the 321 Ocean Drive in South Beach: 2 buildings with 9 and 5 floors. Only 22 units, all with amazing ocean views, balconies and large terraces, private elevators, all what you have dreamed in kitchens with the expresso systems, the induction cook-tops, special ovens, SubZeros, wine coolers, you name it; the palatial bathrooms and all glass and marble, magical rain showers, soaking tubs; and then the beachfront pool, infinity edged, movie-star style fitness center, and whatnot in celestial way of good living. At last we like a lot the Sage Beach at the other extreme of the city, in Hollywood, right on a 300 ft long stretch of white sand beach. These are 24 ocean-front large condo-homes, designed by world-famous architect Carlos Ott, and guess what? Similar top-notch appliances from Wolf, SubZero, Miele, the wine cellar, the Chef Island, the last word in technology.|
|Add the private pool side cabanas with their wet bar, and for some lucky ones the "private plunge pools" on their own terraces; then there are the floors in natural stones, the tropical landscaping, the private elevators. Did I forget something? Of course. But then you will have to contact me for the rest of the story.
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Florida Real Estate News
What's going on in Miami
MDM Group plans massive downtown Miami hotel
The developer that is bringing a Whole Foods to downtown Miami has plans for a 1,800-room hotel and convention center nearby.
The Miami Herald reported MDM Group has a contract to buy the site of the demolished Miami Arena where it plans a Marriott hotel tower with 500,000 square feet of convention space, a theater of 1,500 square feet, and a garage with 2,300 spaces.
MDM Group’s design would connect to the planned All Aboard Florida passenger rail station just south of it through sky bridges, according to architect John Nichols, who spoke to The Herald. The MDM project, which could cost more than $1 billion, could be completed within four years.
The current owners of the arena site are the principals of Miami World Center, which is planning an entertainment neighborhood with residences and retail of about 1 million square feet. Miami World Center had also planned to build a convention facility in the neighborhood prior to the real estate crash of the last decade. The properties Miami World Center controls were also a potential landing spot for the Sands Hotel Group, which had wanted to bring a convention centric-casino to downtown Miami.
All Aboard Florida is planning its own commercial neighborhood on land parent Florida East Coast Industries controls, that would include offices, residences and retail.
Although Nichols said MDM plans to pay for the project with private money, the project sits in the Overtown/Park West Community Redevelopment Agency district, which could provide funds for infrastructure improvements.
The neighborhood, which was a hot area during the last real estate cycle, has again become important to developers, with new condominiums planned for Biscayne Boulevard and old plans for residences being revived.
To the south, MDM Group, which built the Wells Fargo Center and a condominium, has started construction on a garage with a Whole Foods on the ground floor. It is also planning to start construction on an entertainment component that includes a high-end theater.
At the same time that MDM is making plans for a convention facility, Miami Beach could soon approve billion dollar plans for a convention center modernization that would bring an 800-room hotel, retail and other improvements to the land around the center. The Miami Beach Convention Center currently has 500,000 square feet of space, the same as what is being proposed in the MDM project.
May 17, 2013, - South Florida Business Journal
Miami Real Estate
MDM Group releases new images of Miami's convention hotel
MDM Group's planned 1,800-room hotel would have a convention facility with exhibit space as part of the project.
MDM Group's plan to build an 1,800-room hotel and convention facility in downtown Miami would locate a 110,000 square foot exhibit hall at street level, with ballrooms on top.
One of the event spaces would have large windows that would allow pedestrians to peer in and event-goers to look out onto the street, according to new renderings released Tuesday.
MDM Group's spokesman confirmed the company has a contract to buy the site of the demolished Miami Arena where it plans a Marriott hotel tower with 500,000 square feet of convention space, a 1,500-seat theater, and a garage with 2,300 spaces.
MDM Group’s design would connect to the planned All Aboard Florida passenger rail station just south of it through sky bridges, according to architect John Nichols, who spoke to The Miami Herald. The MDM project, which could cost more than $1 billion, could be completed within four years.
The current owners of the arena site are the principals of Miami World Center, which is planning an entertainment neighborhood with residences, and retail, restaurants and entertainment space totaling about 1 million square feet. Miami World Center had also planned to build a convention facility in the neighborhood prior to the real estate crash of the last decade. The properties Miami World Center controls were also a potential landing spot for the Sands Hotel Group, which had wanted to bring a convention centric-casino to downtown Miami.
South Florida Business Journal - May 21, 2013
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? Among the best South Florida locations, Sunny Isles Beach real estate is one of the most coveted. Numerous buildings, a long stretch alongside the beach, provide many great options of Luxury Waterfront Condos in Sunny Isles Beach. 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, brand 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 are 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, 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, 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.
Brickell Real Estate News
Orlando-to-Miami train could generate $145M in fares
A proposed train that would link Orlando International Airport with Miami could generate $145 million in annual fares by 2018, according to records filed by All Aboard Florida, the Orlando Sentinel reports.
The state documents were released after Coral Gables-based All Aboard Flopoo9rida received the green light to begin negotiations for a 99-year lease that would allow the company to lay down tracks on the south edge of the BeachLine Expressway, which runs from Interstate 4 south of downtown Orlando to Cocoa.
The Florida Department of Transportation and the Orlando-Orange County Expressway Authority — joint owners of the BeachLine — previously indicated they would give up right of way for a nominal cost, but the train would have to be built to accommodate future expansion of the toll road, the Sentinel reported.
Construction could start as early as next year if agreements can be reached with the state, the expressway authority and the airport.
Miami Beach Real Estate News
Find Aventura Condos
The return of the cranes: Miami-Dade construction projects on the horizon in 2013
Construction starts in Miami-Dade County posted strong gains in 2012 after a deep six-year slide. With a host of projects on the horizon, the local construction outlook for 2013 is cautiously optimistic.
The cranes are coming back to Miami.
The battered construction industry is going higher in the new year after showing strong signs of life in 2012. Will Miami feel more like Manhattan in a few years? It just might.
So far, there has been more talk than action, fewer shovels in the ground than grand announcements. Even so, construction is underway on a dozen new condominiums in Miami-Dade County — something that seemed beyond the realm of possibility not so long ago.
Commercial building is picking up, too, particularly in Miami’s hot new urban core.
The construction sector, which posted 62 consecutive months of job losses in Miami-Dade as of November 2012, is expected to finally begin adding jobs in 2013.
By far the centerpiece project to date is Brickell CityCentre, a $1.05 billion shopping and mixed-use project that broke ground in June 2012 and will span three blocks just west of Brickell Avenue to the south of the Miami River.
The 5-million-square-foot mega-project by developer Swire Properties will include a department store, luxury shops, restaurants, a hotel, office towers and condominiums. It is expected to be connected with bridges and covered walkways and to cement downtown Miami’s emerging image as a trendy place to work, live and play.
In Brickell alone, three new condominium projects already are under construction: Jorge Perez’s Related Group is building Millecento, a 42-story tower with 382 units, and MyBrickell, a smaller project with 28 stories and 192 units shoehorned onto a 0.4-acre site. Newgard Development Group is building BrickellHouse, a 46-story, 374-unit project.
More building, much more, is coming.
“We’re going to see a lot of cranes popping up in the first and second quarter, and a year from now, we’re going to see cranes all over the skyline,” said Tom Murphy Jr., chairman and CEO of Coastal Construction, a large Miami builder that is involved in various projects, from hotels to condominiums. “I believe we as a community — South Florida, especially Miami — will build more in the next 10 years than we did in the last 15.”
Among a long roster of projects, Coastal was tapped by developer DACRA for a major renovation project in the Design District, which in 2012 marked the arrival of luxury fashion retailers such as Cartier, Hermes, Louis Vuitton, Celine, Christian Dior and Prada, adding a new dimension to an area already known for home furnishings and restaurants.
DACRA president and CEO Craig Robins has a broader plan to bring in 40 to 50 luxury brands to the Design District by 2014. The area will have a pedestrian promenade, rooftop gardens and public plazas, in keeping with Miami’s emerging urban scene.
The focus on commercial development in Miami’s urban core, is all about providing more services to cater to the new residents who want everything within walking distance.
Spanish developer Espacio USA will break ground in 2013 on the first phase of a $412 million mixed-use project at 1400 Biscayne Boulevard. Starting with one 103,000-square foot office tower, the project will eventually include retail shops and residential units.
“It’s becoming much more of a New York lifestyle, and we’ll continue to see that,” said Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors in Coral Gables.
Construction starts in Miami-Dade County posted strong gains in 2012, rising 62 percent through November to $3.16 billion from the same period of 2011, according to McGraw-Hill Construction. The recovery in 2012 followed six consecutive years of dramatic declines from the 2005 peak when construction starts hit $7.94 billion in Miami-Dade.
Robert A. Murray, vice president of economic affairs for McGraw-Hill Construction, said because construction starts lead the pace of construction spending by about a year, “The substantial increase for construction starts in 2012 for Miami-Dade county means that construction spending in 2013 will increase, and along with it, construction employment.”
Brickell CityCentre, for example, has about 100 people working, but their ranks will swell to 300 in the next six months and eventually reach up to 3,500 workers, according to Chris Gandolfo, senior vice president of development for Swire. There will be 11 cranes on site this year.
“I would expect 2013 to see a significant increase in construction employment,” said Brad Meltzer, president of Plaza Construction, which has lined up apartment, condo, hotel and shopping-center work around Miami-Dade and has been staffing up.
“We’re cautiously optimistic,” Meltzer said. “We have a significant amout of work under contract currently, but you never know if that is going to stay — like last time.”
When the financial crisis hit, many projects were abruptly shelved or canceled.
Meltzer said investments in Miami by prominent national real estate investment firms like LeFrak, LNR and Simon Properties bode well for the area: “It’s great to see big strong clients in South Florida.”
Leading the surge in new development: nearly 100 condominium projects have been proposed in South Florida since the downturn, according to Bal Harbour-based Condo Vultures, which tracks the market. Most experts predict only a fraction of those will come to fruition.
A key driver will be the availability of financing. Lenders, still leery in the wake of the real estate crash, are balking at backing new condos. So far, nearly all the new condominium projects are being financed by the unit buyers, who typically put up 50 percent to 80 percent of the purchase price over various stages of construction.
That financing model — which essentially amounts to an unsecured loan to the developer — has attracted almost exclusively foreign buyers, primarily Latin Americans drawn to Miami as an investment safehaven. Political uncertainty in countries like Argentina and Venezuela fuel the trend.
Even so, many people doubt that foreign demand for fancy condos will be sufficient to sustain the many projects that are being talked about.
“Are there going to be enough people to fund the construction of those units? I’d be surprised,” said Jack McCabe, founder and CEO of McCabe Research and Consulting. “I think 25 percent to 33 percent of the projects announced actually will get built.”
Many of the proposed projects are ultra-luxury towers along the ocean, from South Beach to Sunny Isles and Aventura with amenities such as wrap-around terraces, private pools and individual elevators.
Coconut Grove is also a magnet for luxury development, albeit at lower density. “There isn’t a square inch of the Grove that isn’t being looked at,” Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, which markets new condominiums for developers, said at a real-estate roundtable in November.
The new condominium projects are rising in a sort of parallel universe even as the suburbs remain burdened by thousands of distressed homes. Miami-Dade Circuit Court has a backlog of 53,000 foreclosure cases, and new filings have been rising since a settlement last spring between big banks and 49 state attorneys general over lenders’ practices provided clearer ground rules.
As more foreclosures and short sales are processed, they are sure to constrain housing prices, which have been rebounding off recession lows.
While lenders are generally skeptical of condominium projects, they are readily lending for the construction of new rental apartments, an area expected to grow solidly.
Rents are rising; occupancy is strong. For many people, buying a home isn’t financially feasible. Others simply prefer to rent. At the same time, the supply of rental apartments in Miami-Dade was gutted during the boom when many were converted to condominiums.
Miami developer Armando Codina, who previously focused on commercial projects and industrial parks, and Miami-based Adler Group, a major commercial developer, both are pursuing rental apartment projects in Miami-Dade to capitalize on the robust demand. Institutional lenders — insurance companies, real estate investment trusts and pension funds — drawn to the steady income from rental projects, have been eager to invest long term, making banks comfortable with financing construction.
Industrial construction has also picked up. With industrial real estate sale prices in Miami-Dade County hitting record levels and vacancy rates dropping, last year marked the beginning of a mini building boom under way in the warehouse district west of Miami International Airport.
After several years when industrial warehouse construction ground to a halt in Miami-Dade, there is now nearly one million square feet of warehouse space under construction, plus another two million square feet planned. Much of the space is being built without tenants because the owners are so confident in the market’s future.
“Institutions with a lot of capital tend to go in areas that have the highest potential for growth,” said Steve Medwin, managing director of South Florida for Jones Lang LaSalle. “Miami is really the shopping cart for Latin America. The growth of international trade is giving us a leg up on the recovery compared to the rest of the country.”
From The Miami Herald – Jan. 4, 2013
Hallandale Real Estate News
Philippe Starck firm sues Related companies
Architecture and design firm yoo, co-founded by Philippe Starck, has sued The Related Group of Florida and a Mexican affiliate for $708,560 plus interest, The Miami Herald reports.
Yoo claims in a suit filed in Miami-Dade Circuit Court that it is due payment based on the sale of units at Icon Vallarta in Puerto Vallarta, Mexico, according to the Herald.
Starck continues to work on projects, including condo-hotel SLS Brickell, with Miami-based Related and its Chairman and CEO Jorge Perez.
South Florida Business Journal – May 22, 2013
Sunny Isleshas seen drastic changes in less than a decade. Once a long strip of motels, built in the 50's, it is now home to magnificent high rise Sunny Isles Beach condos. Almost overnight, shops, cafes, restaurants, have made Sunny Isles a fashionable and coveted location. Large condominiums, built in the 70's, such as Winston Towers, Plaza Americas Condos coexist with the new giant structures: Ocean 1, Ocean 2 Condos, Ocean 3, Ocean 4, the Pinnacle Condos, Turnberry Ocean Colony, Acqualina Condos, The Jade Ocean, The Meridien Condos, Millenium Condominiums, The Trump Palace, Trump Towers, Sands Point Condos, Sayan Condos, are just a few in the growing Sunny Isles Condos' skyline. More affordable but still very good options are La Perla Condos,The King David Condos, Porto Bellagio; across from the beach, the Coastal Towers, Arlen House Condos.
In Fort Lauderdalesome new developments draw out attention. Alongside the New River, the River Grand is an example of posh living. Traditional luxury features, such as expansive social areas, lavishly decorated, billiard ad card rooms, fitness center, blend well with state-of-the-art elements, such as floor-to-ceiling windows, large terraces and balconies, marble and granite generously spread on floors, kitchens, and baths. The Nu-River Landing condominiums attract a younger crowd with modern appearance and architecture, a wonderful roof-top pool area, basket ball courts, and the electronic gimmicks you could ask for as far as high-speed internet, central controlled air conditioned, modern gyms, executive rooms and more. Las Olas Riverhouse is another notable venue on the River, as well as the gorgeous riverfront Symphony Condominiums building. If we want to talk top high-end properties, the Harbourage Place, in Harbor Beach is the place to be. I also like Il Lugano condominiums, a new construction, with boat slips, a boaters' paradise. The two L'Hermitage condo buildings, right on the beach, are some of the most desirable options in Fort Lauderdale real estate.
Miami Beach Real Estate Information
Homes for sale are in short supply
The supply of homes for sale has been shrinking for six months and shows no improvement this month – a bad sign for buyers. Listings of existing homes for sale were down 14 percent year-over-year in the first two weeks of January, according to Realtor.com, which tracks 146 markets nationwide. In Phoenix, where prices were up 24 percent in November from a year earlier, new listings through the first three weeks of January were the lowest in 13 years, says Mike Orr, real estate expert at the W.P. Carey School of Business at Arizona State University. That means “prices need to go up more” to bring more sellers to market, Orr says. Nationwide, the supply of existing homes for sale fell to 4.4 months in December, based on the current monthly sales pace, the National Association of Realtors® (NAR) says. That’s the lowest in more than seven years. A six-month supply is considered balanced between buyers and sellers. Home prices in November were 7.4 percent higher on average than a year earlier, according to CoreLogic. Real estate experts had expected that rising prices would spur more sellers trapped by years of falling prices. Instead, January’s listing data “is the same sad story,” says Glenn Kelman, CEO of online brokerage Redfin. If sellers don’t have to sell, “They’re holding on, thinking they’ll wait for prices to go up even more.” Redfin’s data, covering 19 major markets, mostly in the West, show new listings down 29 percent the first two weeks of January vs. a year earlier. Scarce sellers aren’t the only reason for shrinking supplies. There are fewer distressed properties for sale. Foreclosure sales were down 7 percent through the first nine months of last year from the same period in 2011, RealtyTrac says. Meanwhile, demand is up. Existing home sales were up 9.2 percent last year, NAR’s preliminary data show. New home sales rose almost 20 percent in 2012, the government reported Friday, while supply fell to 4.9 months in December from 5.4 months a year before. New home construction is still weak. In each of the past three years, builders completed fewer than 500,000 single-family homes. That’s less than half the number built annually from 1993 to 2007, according to the Census Bureau. Homebuilders would need to double production this year to alleviate the tight supply, estimates Lawrence Yun, NAR’s chief economist. That’s not likely. Home supplies nationally will stay at about the five-month level much of the year, Yun predicts. Some markets are far below that. California’s supply of existing single-family homes for sale stood at 2.6 months in December, the California Association of Realtors says. Whether the supply of homes for sale will expand to meet demand is a “big question for the market” in 2013, says Jed Kolko, economist for real estate website Trulia. This year is also the first since the housing bust began that falling inventories are not necessarily a good thing, he says. Listings may still swell in time for the busy spring selling season, says Stan Humphries, Zillow economist. He says listing activity next month will be key. If it doesn’t pick up by then, the spring season is likely to bring a lot of price increases, he says.
From FloridaRealtors.org - Jan. 31, 2013
|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, how top brands appliances, European style kitchens and bathrooms, hurricane-proof windows, complement the overall value.
In Hallandalethe three La Mer Condo buildings and the Parker Plaza , right on the beach, have been superbly remodeled. The four Hemispheres buildings on both sides of Ocean Drive are known for a busy social life at the pool deck. The Parker Plaza and Parker Dorado have been partially renovated and are affordable options. The Malaga Towers Condos are a well kept luxury complex on Hallandale Beach. 2080 Condos on the beach attract many foreign buyers. Speaking new construction, the BEACH CLUB is the outstanding value: At the Beach Club you will find great amenities, and beautiful oceanfront pool decks. Their main spa (they have three) is stunning. Wide open ocean and intracoastal views through their floor-to-ceiling windows and glass doors. The 2080 Condominiums in Hallandale are a relatively new construction. They offer nice condos right on the beach, and a balance between luxury and affordability. A few blocks away from the Beach, at the Diplomat Shopping Center, the new DUO twin towers are a great addition to Hallandale Condo market. On the Intracoastal canals, at Three Islands and Golden Isles Drive, consider older but affordable and well maintained buildings such as Oceanview Tower Condo, or the Olympus complex. Golden Isles is a waterfront community of luxury million-dollar homes, most of them with a dock and ocean access. Golden Isles is a great option for boaters who need ocean access; a good location at the limit between Broward and Dade, close to Aventura, Gulfstream Racetrack and Casino, convenient entertainment and shopping areas.
South Florida Foreclosures & Short Sale Information
Harvey Hernandez's Newgard plans 352 condos next to Miami's Gusman
The 352-unit Centro condominium is planned for a site next to the Olympia Theater at the Gusman Center for the Performing Arts in downtown Miami.
Newgard Development, the builder of BrickellHouse, is the developer behind the 36-story Centro project, as it is being marketed today. Harvey Hernandez is a principal of the development group.
The 18,450 square foot site is the location where The Related Group had planned the Loft 4 condominium. It is at 151 SE First St., which is about a half a block north of the Met Miami site, where a garage with a Whole Foods is currently under construction.
As part of the new plan, Newgard is asking for a variance regarding the site’s required 1,120 parking spaces because of its proximity to Metromover and other public transportation, according to its application with the city. Related pursued the same strategy for its Loft condominium towers, with the developer making a deal with the city’s Miami Parking Authority to accommodate unit owners and users.
In January 2008, the Business Journal reported that Related had canceled its contract to buy the lot where it planned Loft 4. At that point, the residential market had stalled and within a few months, financial institutions in New York began collapsing, throwing the economies of the world into a tailspin.
Peter Zalewski, of Condo Vultures, said the Newgard plan is interesting because it is part of a trend in the new residential development cycle. Many of the sites where condos were proposed, but not built during the last cycle, are being re-evaluated and, in some cases, pursued again by a different group.
Marina Palms Yacht Club & Residences in North Miami Beach is one such example as is Island Gardens on Watson Island, with Related evaluating the latter as a possible investment.
Ironically, Cervera Real Estate will be handling sales at Centro, the same brokerage that would have sold units at Related's Loft 4.
From the South Florida Business Journal – March 26, 2013
Hollywood Beach Condoshave always been very popular with Canadian snowbirds. There are several condominium buildings in Hollywood, Florida, either on the beach side of Ocean Drive, or across the street, facing the Intracoastal Waterway. Can we mention on this side the Allington Towers condos, the Hallmark condos. On the beach side, right on the sand, let's mention The Wave condos as one of the well designed condo conversions on Hollywood Beach, as well as the Tides Condos, and the Residences of Hollywood. The Quadomain condo towers are also affordable buildings. The luxury developments of Diplomat Residences Condos, and Ocean Palms Condos and the Trump Hollywood appeal to buyers seeking the best options close to the Hollywood Broadwalk. A special mention to the Ocean Palms condos, a new luxury Hollywood building. Right on the Broadwalk, practically on the sand very few but deserving your consideration are buildings as La Playa Condos, or the Baker Tower condos.
|Conveniently located in Hallandale, Golden Isles is a gated community of 304 single family homes. Most are waterfront lots with deep water docks, on wide canals, and easy access to the Ocean. Amenities in Golden Isles include a park, tennis center, playground. For boaters, Golden Isles waterfront homes are some the best choices in Florida. Golden Isles offers a family neighborhood with superbly landscaped homes, many with beautiful architectural designs. Golden Isles is a short distance from Haulover Cut, and easy access to both Ft. Lauderdale and Miami airports. Aventura Mall is a 5 minutes drive, Hollywood Circle with its dining and entertainment venues, Gulf- stream Racetrack & Casino, Mardi Gras Dog Track/Casino, the shops at Diplomat Mall, are exciting options. And of course: Hollywood Beach boardwalk and the cafes and bars on the intracoastal you can reach by car or with your boat and sip a drink while watching a magnificent South Florida sunset.|
What is exactly my function as a Florida real estate agent?Essentially matching buyers with their ideal property. Taking account of age, motivations, way of life, and many other considerations, I must make sure that my client will effectively enjoy living in his Florida property. Regardless of the potential of investment gains which are an important factor, if I know that my client will use the Florida Condo or Florida home only as a Florida rental property, I will direct him differently than another client who is primarily looking for a South Florida vacation home or Florida vacation condo. The education of my real estate clients starts by giving them a chance to discover within all South Florida real estate locations, what better fits their needs. Not only bargain price are essential; Florida Real Estate Agents should always make sure that their clients will enjoy their new home, or if it is a Florida Investment Property, make the most of their new South Florida Property to maximize their future profits or income generation. Showing my clients the tremendous quantity of real estate South Florida Realtors are offering through the Florida MLS system on my website, I make sure buyers of South Florida real estate will get the most valuable MLS information. While I assist my clients with their Aventura real estate needs, I always try to locate the best Aventura Condos or Aventura Homes. Sunny Isles Condos and Hallandale Condos are also on the top of my priorities. Choosing an Aventura Condo, or some luxury Sunny Isles Beach luxury condo without the help of a South Florida area specialist is not the best recipe for success.
Investir a Miami - Agent Immobilier Miami Henry B. Nathan is an experienced Hallandale Realtor and Sunny Isles Beach Realtor, and has a great knowledge of both Dade County real estate and Broward County real estate. Since I am strategically located in Hallandale Beach, I will of course enlighten you with the best Hallandale real estate opportunities; especially the magnificent Beach Club Condos in Hallandale. And at the same time, I can show you the best Hollywood homes for sale, or Hollywood Beach Condos
United Realty Group - Henry B. Nathan is a specialist in Foreign Buyers. If my client is a seller looking to sell his South Florida Condo or South Florida home, I can offer him the most advanced technology and methods, and an outstanding exposure to get his South Florida Condo or Home on the market in the shortest delay, conveniently displayed to the largest quantity of South Florida property buyers.
Although I specialize in Hallandale Florida real estate, I can assist my clients with any and all of their needs in the South Florida area. Prices kept their descending tendency during 2008 and beginning of 2009, in Miami real estate, as well as Miami Beach Real Estate. In Brickell Short Sales and Brickell Foreclosures, there are many great opportunitiesWhy not make the most of the present buyers' market? I can search on your behalf all of the South Beach real estate for sale, as well as Surfside real estate, to find the best deals in South Beach foreclosures and short sale propertie. With prices being reduced so quickly, not only Miami Beach real estate sold as short sale or foreclosure is attractive; Very often, we are finding motivated sellers of South Florida real estate who understand the buyer's market and are ready to negotiate incredible opportunities to purchase real estate in Miami.
I am constantly educating our customers on the fact that they should not assume that real estate in Sunny Isles is best purchased as Sunny Isles short sales or a Sunny Isles Foreclosures. South Florida Short sales and Foreclosures situations could have many pitfalls. I have seen buyers locate Hollywood-Florida properties and Hollywood Beach real estate situations where a seller wants to cash in the small equity still available in his property, and is just not in a distressing or foreclosure condition. Many South Florida oceanfront properties are being gradually absorbed by out-of-town buyers taking advantage of this once-in-a-lifetime-opportunity to own an oceanfront luxury condo in South Florida. Even new homes in Pembroke Pines, or homes in Weston, or Coral Springs homes can be acquired in the same manner. The best real estate in Aventura will not usually be a foreclosure property, but motivated sellers with Homes for sale in Aventura . In Sunny Isles Beach, we have noticed the same pattern. And so many great Sunny Isles luxury condos, on the beach, or across the street from the beach are being sold at prices often half of what they were a couple of years ago.
FORECLOSURES AND SHORT SALES IN SOUTH FLORIDA. Many of our international and domestic clients are asking about Hallandale real estate and Hallandale short sales opportunities; as well as real estate in Aventura and Aventura foreclosures. While it is true that a buyer's market has created a substantial amount of inventory in the form of both short sale properties (properties in which the home value is less than the outstanding mortgage loan.) and foreclosures, this does not necessarily mean they are a good buy. However, they constitute a good field for a search of South Florida foreclosures and South Florida short sales.
Of course, the condition of the property is an important factor. Imagine a seller who is almost sure to end up losing his condo. It often happens that the property is neglected during these long months of uncertainty. No money will be invested by its owner and repairs will be reduced to a minimum. It's not as often as you imagine, but homes could sometimes be deliberately damaged or stripped of accessories and appliances. These are issues that affect the marketability of the property; and while they have to be factored in when presenting an offer for a South Florida Short sale, they can also be a great negotiating asset. Banks do not want to invest a penny in a distressed property. Therefore, many prospective buyers will refuse to even consider a property where they would have to invest time and money to fix and repair. That will automatically limit buyers presenting offers. And a smart real estate investor knows that for every dollar spent repairing a home, he might get a reduction of two or three dollars in the purchase price. In all cases, if you are shopping for a South Florida short sale you better be prepared to be patient. If you are in a hurry or have limited resources, most short sales are not going to work for you.
They typically require far more effort on the part of all parties involved and can be very cumbersome and frustrating. In the Sunny Isles Beach area there are many Sunny Isles Beach Condos going through this process right now. They range from Luxury waterfront condos in Sunny Isles, luxury homes in Golden Beach, Waterfront homes in Golden Isles, to Miami Beach or South Beach Condos. The economic downturn has affected homeowners in all parts of South Florida and at all price levels. I try to recommend that our clients look to purchase homes that are not South Florida short sells but great values directly from motivated sellers. These are usually the best prospects for finding great Hallandale Real Estate, and good values in all South Florida real estate. If you think you might be a candidate for purchasing a short sale property or a foreclosure please let me know. I have a good experience in both selling and buying these types of properties in Aventura and Hallandale, as well as Fort Lauderdale and Hollywood Beach.
Sunny Isles Beach Real Estate News
Sunny Isles Beach Real Estate for Sale
Midtown Miami sees the return of 97% financing
Write down Midtown Miami and March 20 as the day 97 percent financing returned to a condominium project in South Florida.
This announcement from the owners of Midtown Miami and their broker Fortune International Realty is another significant bellwether in the condo market, which has been fueled by cash in the new cycle.
The goal is to advance sales at the completed 33-story 4 Midtown tower, The Miami Herald reported.
Midtown Miami Owner Gold Krown Financial has been marketing units for sale at 4 Midtown for some time. Fortune was able to get approval for the low down payments, which could be as little as $8,300 for a $276,000 unit, through a program targeting emerging neighborhoods, George Fraguio, a financing expert at Fortune, told the Herald.
The last big real estate marker of an industry recovery was the $160 million financing of the ultra-luxury, 79-unit Mansions at Acqualina tower in February. The Midtown announcement and the financing of Acqualina are yet another sign that South Florida condo recovery is gaining traction in the eyes of lenders. If that is the case, developers will follow.
So far, the focus from the development side has been on the high-end luxury condo projects because demand for the units, paid for in cash, seemed unquenchable.
Buyers from Latin America and elsewhere were putting down as much as 80 percent of the market value of the unit prior to the completion of the project, a deposit vehicle that acted as construction financing for developers.
This kind of individual financing for the purchase of mid- to entry-level condominiums, if other developers can leverage it, could open up the market to another wave of condo development. The previous wave transformed South Florida, and remade downtown Miami into a vibrant, residential draw for professionals.
However, small deposit-purchases also fed a frenzy, which spurred speculators to sign contracts for multiple units, many of which walked away from closings as projects were completed. Many developers, left with units with depreciating values, eventually defaulted on their construction loans, a trend that was realized throughout South Florida, especially Miami-Dade County, during the last decade and that helped lead to a financial meltdown of the economy.
Phil Spiegelman, principal of International Sales Group and Related ISG, said for now observers should perceive the financing of Midtown units as a one-off. Lenders are not indicating that they are any more confident in the financing of individual unit purchases, for now.
March 20, 2013, South Florida Business Journal
South Florida Real Estate Information
Pending home sales slip on constrained inventory
WASHINGTON – March 27, 2013 – February pending home sales flattened with limited buyer choices, but remained at the second highest level in nearly three years, according to the National Association of Realtors® (NAR).
The Pending Home Sales Index, a forward-looking indicator based on contract signings, slipped 0.4 percent to 104.8 in February from a downwardly revised 105.2 in January, but is 8.4 percent higher than February 2012 when it was 96.6. Contract activity has been above year-ago levels for the past 22 months; the data reflect contracts but not closings.
Before January, the last time the index showed a higher reading was in April 2010 when it was 110.9, shortly before the deadline for the homebuyer tax credit.
NAR Chief Economist Lawrence Yun said limited inventory is holding back the market in many areas.
“Only new home construction can genuinely help relieve the inventory shortage and housing starts need to rise at least 50 percent from current levels,” he said. “Most local home builders are small businesses and simply don’t have access to capital on Wall Street. Clearer regulatory rules, applied to construction loans for smaller community banks and credit unions, could bring many small-sized builders back into the market.”
The PHSI in the Northeast declined 2.5 percent to 82.8 in February but is 6.8 percent above February 2012. In the Midwest the index rose 0.4 percent to 103.6 in February and is 13.2 percent higher than a year ago. Pending home sales in the South slipped 0.3 percent to an index of 118.8 in February but are 12.1 percent above February 2012. In the West the index increased 0.1 percent in February to 101.4 but is 0.8 percent below a year ago.
Yun projects existing-home sales to rise about 7 percent in 2013 to approximately 5 million sales, which is near the current level of activity.
“The volume of home sales appears to be leveling off with the constrained inventory conditions, and the leveling of the index means little change is likely in the pace of sales over the next couple months,” he said.
The national median existing-home price is forecast to rise nearly 7 percent this year, while mortgage interest rates should remain historically low but trend up slowly and reach 4 percent in the fourth quarter.
From FloridaRealtors.org – March 27, 2013
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