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  Akoya
  One Bal Harbour
  Radius
  Terraces At Turnberry
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  Hemispheres
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Winter is almost here; and we are already seeing an affluence of out-of-town buyers nervous about missing this one-in-a-lifetime chance to own piece of Florida real estate at an unbelievable price. At least in the most coveted areas in South Florida, we seem to have reached a turning point. Amazingly low prices of condos in Aventura, Sunny Isles Beach condos, Hollywood Condos, Hallandale condos and the Beach Club condos, Miami Beach condos and homes in most South Florida locations. From the peaks of mid-2005, we have seen sometimes 50% drops. We find some of the most valuable properties selling at a steady pace. The inventory is sensibly reduced. Construction is all but stalled in those areas, due to higher construction costs and scarcity of land. That can tip off a savvy investor on how and when the natural adjustment will occur. Real Estate is historically a preferred protection against inflation, and this is boosting the market. No registration needed to get free access to Florida MLS with 'All Properties Search' tool. Send us the MLS # of the properties you found; or click on 'Condo Buildings Resale' for descriptions and listings of condo buildings in different locations. Click on our Top Menu for most of South Florida Preconstruction projects. Go directly to: 'Condo Search'. or just BLOG to read current information on Florida Realty. Don't hesitate to call me and get my suggestions. I am an expert helping Foreign Buyers, fluent in English, French, Spanish, Portuguese.

Among the preferred locations, Sunny Isles is a favorite, because of its proximity halfway between Fort Lauderdale and Miami airports. Sunny Isles Condos have replaced the run-down motel.. Aventura Condos are always a good option. Aventura is known for its great shopping and entertainment, a short distance from the beach. Surfside Condos are in the middle of a great walking area, a short stripe alongside the ocean. Hallandale Real Estate, on the beach, offers some beautiful buildings on the sand. Hollywood Beach, famous for its boardwalk is a great destination and Hollywood Condos are a great option. Miami Beach Real Estate, all the way down to South Beach has become one of the most valuable in South Florida. In Miami, Brickell condos, a strip south of US1 and downtown Miami are at a wonderful location, close to South Beach, in the middle of the financial sector, and a very active entertainment area is building up in the area. North of Downtown Miami, alongside the coast, dozens of new buildings, many of them with great views and luxurious amenities, have populated the area. Coconut Grove Condos and Coral Gables Homes are not too far, as well as Key Biscayne real estate, in a prized and exclusive area. Don't miss our incredible opportunities, short sales, price reductions.

Florida Real Estate News

Home Values Have Been Stabilizing

U.S. homes lost $489 billion in value during the first 11 months of 2009. That’s significantly less than the $3.6 trillion lost during 2008 and evidence that home values are stabilizing, says Zillow.com, online real estate research firm. Properties in 48 of the 154 markets tracked by Zillow rose in value this year, but Zillow’s Chief Economist Stan Humphries believes prices could decline again in 2010. “We believe that demand will come under downward pressure as mortgage rates creep back up after the first quarter and that housing supply will experience upward pressure as the volume of foreclosures continues to remain high. Both these factors will challenge the recent stabilization of home prices," Humphries said in a statement. Areas where home prices rose the most in 2009 were:

Boston

Providence

Denver, Colo.

Atlanta, Ga.

Rochester, N.Y.

Areas where homes continued to lose the most value:

Los Angeles

Chicago

New York

Miami-Fort Lauderdale

Phoenix

From Realtor.org - December 9, 2009


South Florida Real Estate News

Florida home prices up 0.6% in Q3

There’s a bit of good news in what otherwise has been a bleak housing market. Freddie Mac (NYSE: FRE) reports home prices rose 0.9 percent nationwide in the third quarter. That marks the second consecutive quarterly increase, following a 2 percent uptick in the second quarter. “The home-price gains of the past two quarters reflect improving existing home sales over that period,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a news release. “Sales volume was up 15 percent between the first and third quarters of this year.” He noted that lower mortgage rates, lower priced housing, the first-time homebuyer tax incentive and loan modification efforts have combined to reduce the inventory of unsold homes, resulting in increased prices. In the South Atlantic division, which includes Florida, prices were up 0.6 percent in the third quarter. Over the last 12 months, home values decreased 5 percent in the South Atlantic, while, during the last five years, home values increased 7.9 percent. In October, a study by financial services firm Fiserv predicted that U.S. home prices would continue declining through the middle of next year – with the Miami area suffering the steepest drop among major markets. The glut of foreclosures and vacant units could mean even greater woes for South Florida. Fiserv predicted that Miami home prices would drop an additional 29.9 percent during that period.

South Florida Business Journal - December 8, 2009


Aventura Real Estate News

Simon Property Group buys Prime Outlets

Simon Property Group announced plans to acquire the outlet shopping center business of Prime Outlets Acquisition Co., which includes Prime Outlets Florida City. Indianapolis-based Simon (NYSE: SPG), which already owns six South Florida malls and shopping centers, said it entered into an agreement to buy the 22 outlet centers and assume the company’s existing indebtedness and preferred stock. The transaction was valued at about $2.3 billion. The total portfolio has 8.2 million square feet of leasable space at centers throughout the U.S. and Puerto Rico, according to a news release. The centers were about 92 percent occupied and generated annual sales of about $370 a square foot, the release said. “Prime Outlets is an excellent opportunity for Simon, as it represents a strong strategic fit for our existing Premium Outlet portfolio and enhances our leadership position in the outlet business," Chairman and CEO David Simon said in a statement. "Following the completion of this transaction, our outlet portfolio will have 63 centers comprising approximately 25 million square feet."

Simon said the firm will pay equity consideration of about $700 million for the owners’ interests in Prime Outlets, the release said. The firm was advised in this transaction by UBS Investment Bank and JP Morgan Chase & Co., and was represented by Fried, Frank, Harris, Shriver & Jacobson LLP. In South Florida, Simon owns Dadeland Mall, Miami International Mall, Aventura Mall, Sawgrass Mills, Coral Square and Royal Eagle Plaza.

South Florida Business Journal - December 8, 2009


South Florida Real Estate News

TransUnion: Florida mortgage delinquency to rise in 2010

Florida is expected to have the highest mortgage delinquency rate in the nation by the end of next year, at 16.86 percent, according to TransUnion’s annual credit forecast. The Sunshine State will be followed closely by Nevada, at 16.14 percent. States predicted to have the lowest mortgage delinquency rates are North Dakota (1.43 percent), South Dakota (2.2 percent) and Nebraska (2.35 percent). The Chicago-based credit and information management company predicts the rate of those Floridians who fall 60 days or more behind on their mortgages will increase by more than 17 percent in 2010, from 14.37 percent at the beginning of the year to 16.86 percent by next December. In the meantime, national mortgage loan delinquencies are predicted to drop nearly 3 percent by the end of next year, to 6.39 percent from an expected 6.56 percent at the end of this year. The projected decrease would end a trend that included unprecedented year-over-year increases of 54 percent between 2006 and 2007, 53 percent between 2007 and 2008 and 43 percent between 2008 and 2009, TransUnion noted. "We believe the nation will see a turnaround in mortgage delinquencies in the coming year," said Ezra Becker, director of consulting and strategy in TransUnion's financial services group. "Tied directly to anticipated unemployment rates and housing values, the decrease in delinquencies should be gradual.”

TransUnion also predicts Florida to be among those states with the highest 90-day credit card delinquency rate at the end of 2010, at 1.4 percent. Still, that is down slightly from 1.43 percent in the fourth quarter of this year. Floridians and South Floridians appear to be getting a better grip on their credit card debt. Both the state and the Miami-Fort Lauderdale-Pompano Beach metropolitan statistical area have seen greater drops in credit card debt than the rest of the nation, down $128 and $233, respectively, during 2009. The national decline has been just $117. “Although we have seen over the last several quarters that credit card debt has been coming down in Florida, and even on a steeper curve in Miami, the credit card debt per borrow is much higher in the Miami MSA and in Florida than it is for the rest of the nation, noted FJ Guarrera, TransUnion’s vice president of financial services. Floridian’s average debt in the third quarter was $6,361, while Miami’s average debt was $6,237. That’s significantly higher than the national average of $5,612. “When these home values start to improve, and they will, we will see some of that credit card delinquency come down as well,” predicted Guarrera.

South Florida Business Journal - December 8, 2009


Miami Beach Real Estate News

South Florida home value losses top $45B in 2009

South Florida ranks among the five markets in the country with the biggest home value losses – down $45.9 billion in 2009, according to the latest statistics from Zillow. Still, that’s better than the $137.2 billion in value lost in 2008. The improvement also is reflected on the national level, where U.S. homes lost $489 billion in value during the first 11 months of the year, significantly less than the $3.6 trillion that was lost in 2008. Forty-eight of the 154 markets tracked by Zillow showed gains in home values this year, with the Boston metropolitan statistical area showing the largest gain, at $23.3 billion. The Providence, R.I., MSA was second, with a $12.4 billion gain. Fewer single-family homeowners also were underwater in the third quarter – 21 percent, down from 23 percent in the second quarter, according to Zillow.

“Most housing markets across the country had a good summer, spurred largely by the government’s tax credits for homebuyers combined with very low mortgage rates,” said Stan Humphries, Zillow’s chief economist, in a news release. However, he noted that demand is expected to drop as mortgage rates creep back up, and the number of foreclosures remains high. On Tuesday, Condo Vultures reported that there were 7,000 foreclosures last month in the tri-county area.

South Florida Business Journal - December 9, 2009


Miami Real Estate News

Prices slashed on 25% of homes in Miami in Q3

Twenty-five percent of homes listed for sale in Miami have had their prices reduced at least once between June and December, according to Trulia. The national figure is 22 percent. The San Francisco-based real estate Web site found the average price reduction in Miami was 15 percent, while the national figure was 11 percent, up slightly from 10 percent in the previous quarter. Statewide, 23 percent of listings had price reductions in the last quarter, with an average reduction of 13 percent, or $53,591. Nationwide, total listings fell 9 percent in December from the previous month, with the total amount slashed from home prices falling to $24.7 billion in December from $28.1 billion in November. “The tax credit extension has provided sellers with a much bigger window of opportunity, creating significantly less pressure to sell now,” Trulia co-founder and CEO Pete Flint said in a news release. “With economic indicators showing positive signs during the past couple months, many sellers will be poised to wait to sell. They want to sell at the highest price possible and, as inventory levels are seeing a 9 percent decrease from the previous month, there will be less competition amongst sellers, leading to less price reductions in the near term.” Cities that have experienced significant increases in percentage of listings with price reductions in the third quarter include:

Kansas City, Mo. – 40%

Omaha, Neb. – 39%

Houston – 32%

Minneapolis – 29%

Arlington, Va. – 28%

Cities with the highest percentage of declines for listings with price reductions between June and November include:

Las Vegas – 30%

San Jose, Calif. – 30%

Long Beach, Calif. – 25%

Honolulu – 23%

Albuquerque, N.M. – 22%

South Florida Business Journal - December 9, 2009


Sunny Isles

has 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 Lauderdale

some 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.


Fort Lauderdale Real Estate Information

Obama Proposes Cash for Caulking

President Obama proposed a program Tuesday that would reimburse home owners for installing energy-efficient appliances, windows, and insulation. Under what has been dubbed “Cash for Caulking,” home owners would get a 50 percent rebate on items like energy-efficient air conditioners, heating systems, washing machines and dryers, refrigerators, replacement windows, and insulation up to $12,000, meaning a household could spend $24,000 and get $12,000 back. There will likely be no income restrictions. Steve Nadel, director at the American Council for an Energy-Efficient Economy, who is helping to craft the legislation, says they are contemplating having contractors or retailers pay part of the cost upfront to ease the need for home owners to come up with lots of cash.

From Realtor.org - December 9, 2009


Among the most luxurious

Hallandale Beach Condos, and Sunny Isles Condos

I usually recommend the Beach Club as a great option. A new condominium complex right on Hallandale Beach, these are 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 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. Inside the Beach Club Condo units, top brands appliances, European style kitchens and bathrooms, hurricane-proof windows, complement the overall value.

Florida Condominiums for Sale

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

Florida Condominiums for Sale in the Miami area.

Owning a condominium vacation villa in the Miami Beach area will place you near the famous South Beach area and it world-famous restaurants, bars, discos, Lincoln Road, and Ocean Drive. Luxury condominiums can be found for sale at Millionaire Row, Indian Creek. Great condo buildings can be found at North Bay Village, a 10 minutes drive from the Beach. If you would like to be a little closer to Bal Harbour and its famous Bal Harbour Shoppes, you can find many new, as well as well maintained condo buildings in Bal Harbour at now much affordable prices. Bal Harbour buildings on the beach include some newer building such as the One Bal Harbour condos, or the venerable Balmoral, all marble and space, with some great Bal Harbour apartments with wonderful water views. The New Harbour House condos, which are a condo conversion, are the result of gutting a rental building and converting it to a condominium community. Driving South of Bal Harbour, Surfside is a coveted location, with good walking traffic, restaurants and stores, as well as its Surfside condominium buildings right on the beach, such as the Waverly Condos, the Champlain Towers Condos, three attractive buildings, right on the sand. A new condo building, the Azure Condominiums, can be an alternative. The Wave Condos, the Manatee Condos, the Spiaggia condominium building, which has been completely gutted and redone. Surfside offers a small town setting which also includes some older Surfside single family homes. South of Surfside, Nobe condominiums can be a good alternative. Nobe or North Beach is an area alongside the ocean, with a stretch of restaurants and entertainment places, blending with the Nobe condominium buildings. Luxury Miami Beach condos are an exciting blend of modern and old rehabilitated buildings. The Blue Diamond condos and the Green Diamond condos, the Fountainebleau condos, the Canyon Ranch condominiums, and many other Miami Beach condominium buildings are some of the newer Miami Beach condo developments. Great opportunities are waiting for you since the turn of the market has brought to the market many Miami Beach real estate opportunities, Miami Beach foreclosures and Miami Beach short sales. If you go further South, you will be able to choose between the older, but now affordable condos in South Beach, or if you can afford it, the high-class condo buildings such as the Continuum condominiums, the Apogee condos, the Murano at Portofino condominiums, the Icon South Beach condos, the Setai condos, the Il Villaggio condos. Traditional buildings at the cozy location called Belle Isle are an affordable yet wonderful option. Close to Lincoln Road and South Beach lively environment, you will be right at the center of the action, living in an affordable Belle Isle condo. We can present you with different alternative of foreclosure deals, short sales opportunities but, in general, motivated sellers constitute some of the best South Beach real estate buying opportunities.

Florida Condominiums for Sale as an Investment

Florida is one of the premier retirement areas in the world. With its temperate climate, variety of Atlantic and Gulf shore beaches, and plethora of pleasure activities, no wonder it’s such a desirable piece of real estate to own. Planning your retirement? It’s never too early! Do you see retirement a long ways down the road but want the security of owning a vacation villa in an upscale environment like in the Sunny Isles Florida area near Aventura? Owning your own lodging will give you the security of knowing there is always a place for family vacations awaiting you. Amidst your busy life, think of how hassle-free your next vacation will be. No more booking those reservations months in advance or trying to find just the right lodging at the last minute or around peak holiday season. Hallandale Beach Condos can also be a great refuge, with all these entertainment venues, such as the Gulfstream race track and Casino, the new Village at Gulfstream, the shops at Diplomat Mall, restaurants for all tastes and budgets,the beach and the stunning views on the intracoastal waterway, the proximity to Aventura Mall and Downtown Hollywood.

Renting Your Luxury Condominium in South Florida

Owning your own piece of Bal Harbour, Florida real estate will give you the option of using it for you and your family when you choose or renting it to some of the millions of tourists streaming to Florida. You can choose either to be in charge of the advertising and renting details or hire a real estate management company to take care of the details for you. Weighing the pros and cons is important. You will take home more profit being in charge of the vacation villa rental yourself but you will also have to deal with the worries that go along with rental properties. Putting yourself in charge, however, will give you the ability to negotiate deals with your customers and will also allow you to offer specials of your choosing at the best price. It’s important to keep in mind whether it’s allowable to rent your property when purchasing your condominium. Be sure you ask that question when searching for condominium ownership in Hollywood Florida. As they say, owning real estate is one of your best investments and location, location, location is the key to escalating value. With the constant influx of new residents and tourists to the South Florida area, your question about location has already been answered.

Luxury Condominiums in Aventura or Orlando.

So, you’d rather not take the plunge to own a Florida condominium just yet. That’s alright. Some people could choose to rent first which will give you great insight into location and market. Looking for condominiums to rent in all these attractive areas will produce many results. You will have many options from which to choose, all of which can place you near Disneyworld and other major and lesser-known tourist activities. Along with the various opportunities to rent, consider Short term approved rentals communities, such as the Bella Piazza condos in the Orlando area. Other similar locations are abundant in Central Florida with locations in Kissimmee, near Disney, Orlando, and all spots in between within easy driving distance of theme parks, water parks and Orlando activities. Check www.condo-southflorida.com, for other good opportunities in Sunny Isles Beach, Hallandale, as well as the possibility of purchasing Aventura real estate. This could be a great choice since Aventura with its famous Aventura Mall, its restaurants, movie theatres, will always be a favorite.

Other Luxury Condominiums Purchase - Orlando Area

Just 5 miles southwest of Disney in Polk County, lies the quiet, small town of Davenport, Florida. Davenport is close to Disney, less than 30 minutes away and within easy driving distance of the abundance of Orlando sites. Kennedy Space Center is a little more than an hours’drive and Tampa and Cocoa Beach are accessible within an hour. Tampa is home to Busch Gardens, and Cocoa Beach boasts beautiful beaches and is home to Ron Jon’s surf shop, one of the most famous surf shops in the world. Davenport will give you that needed respite from the hustle and bustle of Kissimmee and city traffic after a long and fun-filled day at Disney. Davenport is only 9 miles from a Super Wal-Mart and boasts a new Publix supermarket close by. Luxury places to stay in Davenport include the Bella Piazza community, boasting 3 and 4-bedroom units fully furnished, and approved for short-term rentals. All wonderfully appointed, the accommodation here offers units with fully equipped kitchens with living and dining areas. Another luxury resort in Kissimee is the Cane Island complex. The Cane Island community offers three to four-bedroom condominiums, at a very reasonable price point. Great amenities, pool, make the Cane Island a valid option. Whatever your choice, buying or renting Florida condominiums, you will never regret the once-in-a lifetime opportunity now that prices are at a very low level.


In Hallandale

the 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.

Hollywood Beach Condos

have always been very popular with our 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 soon-ready Trump Hollywood appeal to buyers seeking the best options close to the Hollywood Broadwalk. Right on the Broadwalk, very few buildings draw our attention, as La Playa Condos.


A better forecast on mortgage, credit delinquencies

– After three straight years of dramatic leaps in mortgage delinquencies, the tide should finally turn next year, according to a new forecast by TransUnion, the credit-reporting company. The company also expects credit-card delinquencies to decline through most of 2010. TransUnion projects that the part of U.S. homeowners who are at least two months’ late in their mortgage payments will drop 3 percent by the end of 2010, dipping to 6.39 percent from the current quarter’s estimate of 6.56 percent.

Since 2006, the nation’s mortgage-delinquency rates have climbed an average of 50 percent a year, TransUnion said. In the last quarter of 2006, the rate stood at 1.94 percent - close to its historical average, TransUnion vice president F.J. Guarrera said in an interview. TransUnion is expecting a more dramatic decline in some states, including Pennsylvania, as well as continued increases in the states hit hardest by the housing bubble’s collapse, Guarrera said. In Pennsylvania, Guarrera said TransUnion expected mortgage delinquencies to drop 11.6 percent, from 4.25 percent in the current quarter to 3.76 percent at the end of 2010. By contrast, Guarrera said Florida’s delinquency rates were expected to near 17 percent by the end of next year. “It’s absolutely staggering to see that nearly 2 in 10 homeowners in Florida will have missed two or more payments on their mortgages,” he said. TransUnion’s projections are based on an annual study of the credit files of 27 million people, randomly chosen from files it maintains on 270 million U.S. consumers. Guarrera said a variety of factors were contributing to the slow turnaround in mortgage delinquencies, including what economists believe has been a return to tentative growth in an economy mired in recession since December 2007. Guarrera said limited data made it impossible to gauge the role of government efforts in bolstering the trend. Since early this year, the Obama administration has been pushing mortgage lenders to help struggling homeowners through its Making Home Affordable program. The program offers incentives to lenders if they adjust loan terms to reduce payments to 31 percent of a homeowner’s monthly income. Last month, the Treasury Department said 650,000 loan modifications were under way, although the vast majority were still in a trial period. Guarrera said the trends in mortgage and credit-card delinquencies dovetailed with increases in savings rates, showing that “consumers have become fiscally more responsible” during the recession, the longest downturn since the Great Depression.

Mark Zandi, chief economist at Moody’s Economy.com, said the TransUnion projections were in line with his forecasts, which he said showed unemployment peaking and housing prices reaching a bottom by the third quarter of next year. He said both factors also drive delinquency rates, along with borrowers’ efforts to be more prudent. But Zandi warned against reading too much into any particular data because of the confusing ways that they sometimes interact. For instance, Zandi said credit-card delinquency rates were buoyed by a sharp drop in the number of non-corporate cards in circulation, down to 325 million from a peak of 425 million in March, according to Equifax data. And Zandi said last month’s dip in the unemployment rate was driven largely by a rare drop in the number of people seeking work, which typically rise about 1 percent a year. “The labor force is declining, which is incredibly unusual,” Zandi said. “Once the labor force starts growing again, we’ll see the unemployment rate start to rise again.” He now expects joblessness to peak at 10.6 percent during the third quarter of next year. But Zandi also sees hopeful signs in delinquency rates, including a recent rapid fall in total delinquencies in household credit accounts. Zandi said that according to Equifax, total delinquencies peaked in March at 23.05 million. By November they were below 20 million – a reflection, he said, of “a stabilizing economy.”

From FloridaRealtors.org - Dec. 11, 2009


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.

At condo-southflorida.com it's all about buyers of South Florida real estate.

The education of my real estate clients starts by giving them a chance to discover within all South Florida real estate 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 that they get the most valuable MLS information. While I assist my clients with their Aventura real estate needs, I always try to locate the best Aventura Condos or Aventura Homes. Sunny Isles Condos and Hallandale Condos are also on the top of my priorities. Choosing an Aventura Condo, or some luxury Sunny Isle Beach real estate properties without the help of a South Florida area specialist is not the best recipe for success. Henry B. Nathan is an experienced Hallandale Realtor and Sunny Isles Beach Realtor, and have a good knowledge of both Dade County real estate and Broward County real estate. Since I am strategically located in Hallandale Beach, I will of course enlighten you with the best Hallandale real estate opportunities; especially the magnificent Beach Club Condos in Hallandale. And at the same time, I can show you the best Hollywood homes for sale, or Hollywood Beach Condos

Although I specialize in Hallandale Florida real estate, I can assist my clients with any and all of their needs in the South Florida area. Prices kept their descending tendency during 2008 and beginning of 2009, in Miami real estate, as well as Miami Beach Real Estate. 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 sale or a Sunny Isles Foreclosure. Short sales and foreclosures situations could have many pitfalls. I have seen buyers locate Hollywood-Florida properties and Hollywood Beach real estate situations where a seller wants to cash in the small equity still available in his property, and is just not in a distressing or foreclosure condition. Many South Florida oceanfront properties are being gradually absorbed by out-of-town buyers taking advantage of this once-in-a-lifetime-opportunity to own an oceanfront luxury condo in South Florida. Even new homes in Pembroke Pines, or homes in Weston, or Coral Springs homes can be acquired in the same manner. The best real estate in Aventura will not usually be a foreclosure property, but motivated sellers with Homes for sale in Aventura . In Sunny Isles Beach, we have noticed the same pattern. And so many great Sunny Isles luxury condos, on the beach, or across the street from the beach are being sold at prices often half of what they were a couple of years ago.

FORECLOSURES AND SHORT SALES IN SOUTH FLORIDA. Many of our international and domestic clients are asking about Hallandale real estate and Hallandale short sales opportunities; as well as real estate in Aventura and Aventura foreclosures. While it is true that a buyer's market has created a substantial amount of inventory in the form of both short sale properties (properties in which the home value is less than the outstanding mortgage loan.) and foreclosures, this does not necessarily mean they are a good buy. However, they constitute a good field for a search of South Florida foreclosures and South Florida short sales.

Of course, the condition of the property is an important factor. Imagine a seller who is almost sure to end up losing his condo. It often happens that the property is neglected during these long months of uncertainty. No money will be invested by its owner and repairs will be reduced to a minimum. It's not as often as you imagine, but homes could sometimes be deliberately damaged or stripped of accessories and appliances. These are issues that affect the marketability of the property; and while they have to be factored in when presenting an offer for a South Florida Short sale, they can also be a great negotiating asset. Banks do not want to invest a penny in a distressed property. Therefore, many prospective buyers will refuse to even consider a property where they would have to invest time and money to fix and repair. That will automatically limit buyers presenting offers. And a smart real estate investor knows that for every dollar spent repairing a home, he might get a reduction of two or three dollars in the purchase price. In all cases, if you are shopping for a South Florida short sale you better be prepared to be patient. If you are in a hurry or have limited resources, most short sales are not going to work for you.

They typically require far more effort on the part of all parties involved and can be very cumbersome and frustrating. In the Sunny Isles Beach area there are many Sunny Isles Beach Condos going through this process right now. They range from Luxury waterfront condos in Sunny Isles, luxury homes in Golden Beach, Waterfront homes in Golden Isles, to Miami Beach or South Beach Condos. The economic downturn has affected homeowners in all parts of South Florida and at all price levels. I try to recommend that our clients look to purchase homes that are not South Florida short sells but great values directly from motivated sellers. These are usually the best prospects for finding great Hallandale Real Estate, and good values in all South Florida real estate. If you think you might be a candidate for purchasing a short sale property or a foreclosure please let me know. I have a good experience in both selling and buying these types of properties in Aventura and Hallandale, as well as Fort Lauderdale and Hollywood Beach.


More Real Estate News

Mortgage rates still below 5 percent

Rates have hit bottom and will rise over the next 35 to 45 days, say 57 percent of the industry experts polled this week by Bankrate.com. While 29 percent expect stability, a small number (14 percent) foresee an additional decline.

– Mortgage rates rose this week but still remained below 5 percent, Freddie Mac said Thursday. The average fixed rate on 30-year mortgages was 4.81 percent, up from a record-low 4.71 percent last week. Last year at this time, the average fixed rate for 30-year mortgages was 5.47 percent. The Federal Reserve has kept rates around 5 percent this year by purchasing $1.25 trillion in mortgage-backed securities in an effort to make home buying more affordable and bolster the housing market. Low rates are leading more homeowners to call their brokers. Mortgage applications to buy a home rose 4 percent last week, while refinance applications jumped 11 percent from the prior week, the Mortgage Bankers Association said. Freddie Mac collects mortgage rates each week from lenders around the country. Rates often fluctuate, even within a given day. The average rate on a 15-year fixed mortgage rose to 4.32 percent, from a record low of 4.27 percent last week. Rates on five-year, adjustable-rate mortgages averaged 4.26 percent, up from last week’s 4.19 percent. Rates on one-year, adjustable-rate mortgages were 4.24 percent, down from 4.25 percent. The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year and one-year loans. The fee averaged 0.6 point for 15-year loans and 0.5 point for five-year mortgages.


South Beach Real Estate Information

Forbes: Miami Heat not so hot

The Miami Heat ranks 12th out of the 30 National Basketball Association teams on Forbes’ wealthiest franchise list. Forbes says the team’s value is $364 million. Forbes noted that Miami’s economy has taken its toll on the team, which won 43 games and made the playoffs in 2008-09. However, team attendance fell 8.6 percent last season, despite a cut in ticket prices. Gate receipts were $42 million, while player expenses hit $74 million. To cope with the economic downturn, the team let go 20 employees from its business operations and cut the salaries of those left, including its head coach. “The team did spend several million dollars for technology upgrades and enhancements at American Airlines Arena, such as a new digital signage system,” Forbes noted. At No. 1 on the list was the Los Angeles Lakers, whose value rose 4 percent to $607 million. Rounding out the top 10 were the Chicago Bulls, Detroit Pistons, Cleveland Cavaliers, Houston Rockets, Dallas Mavericks, Boston Celtics, Phoenix Suns and San Antonio Spurs.

The average NBA team, according to Forbes, is worth $367 million, a $12 million decline from the 2008 average value.

South Florida Business Journal - December 11, 2009


           We specialize in the following areas in South Florida Real Estate

            Click on one the following locations for more information

AVENTURA REAL ESTATE                       *      SUNNY  ISLES REAL ESTATE

HALLANDALE BEACH REAL ESTATE        *      BRICKELL REAL ESTATE

DOWNTOWN MIAMI REAL ESTATE          *     BAL HARBOUR REAL ESTATE

HOLLYWOOD REAL ESTATE                   *     FT. LAUDERDALE REAL ESTATE

SOUTH BEACH REAL ESTATE                  *    SURFSIDE REAL ESTATE

GOLDEN ISLES REAL ESTATE                  *    GOLDEN BEACH REAL ESTATE

CORAL GABLES REAL ESTATE                *    KEY BISCAYNE REAL ESTATE

DORAL REAL ESTATE                             *    MIRAMAR REAL ESTATE

COCONUT GROVE REAL ESTATE            *    PEMBROKE PINES REAL ESTATE

 

        

 



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