Archive for the 'Aventura' Category
Chinese Gold Moving U.S. Mortgage Interest Rates
April 24th, 2009 categories: Aventura, Market Trends, Real Estate News
Larry Baer of Market Alert is in my opinion the most astute analyst when it comes to parsing global economic activity and it’s effects on mortgage interest rates. Below is an excerpt from his daily commentary which concisely explains why Chinese investment in Gold may move U.S. mortgage interest rates higher over the next two weeks.
“I look for the upward pressure on mortgage interest rates to be a bit more intense during the coming week given this morning’s news of a sharp rise in Chinese gold reserves. The big “so what” factor here is that swelling Chinese gold reserves probably represent a new strategy of diversification by China – which by extension could logically mean the Chinese will be buying relatively less in the form of US Treasuries obligations in the future. Granted the Fed currently has the financial firepower to take up some of the slack caused by the potential of reduced Treasury auction participation by the Chinese – but only for a limited amount of time. You can be this event will be closely monitored for further developments by mortgage investors. You can also bet mortgage investors will likely be very hesitant to push mortgage interest rates sharply lower until the Treasury auctions of the next two weeks are complete — and the participation levels of foreign investors can be clearly assessed.”
The week ahead is pack full of economic data and coupled with Larry’s analysis above should prove to be critical for those managing rates locks.
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The Rise of The Regionals – Filling The Funding Gap
April 21st, 2009 categories: Aventura, Community Events, Market Trends, Real Estate News
Recently during several speaking engagements I mentioned the niche that some small to mid-sized banks are filling in the residential mortgage market for Miami and South Florida. The “distressed market” policies of some of the major lenders and larger banks including that of my employer are creating an environment where down payment requirements and/or underwriting guidelines are preventing some buyers from moving forward with their home purchase. This is particularly true in the area of jumbo mortgages used for the purchase of a home with a sales price between $525,000 and $1,500,000.
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Do You Need A Tax Break?
April 10th, 2009 categories: Aventura, Community Events
No Sales Tax On Tax Day
Four restaurants in Miami-Dade County will pay the sales-tax on their customer’s bill on tax day, April 15, 2009. The four restaurants are:
- AltaMar located at 1223 Lincoln Rd, Miami Beach – offer is good on drinks and dinner
- Andu Restaurant and Lounge at 141 SW Seventh St, Miami - offer is good on lunch, dinner and drinks
- Area 31 in the Epic Hotel located at 270 Biscayne Blvd Way, Miami – offer is good on lunch, dinner and drinks
- The Grill on the Alley located in the Aventura Mall at 19501 Biscayne Blvd, Aventura – offer is good on lunch, dinner and drinks
These restaurants want you to feel better even on a day when you have to pay your federal income tax. Enjoy a good meal and save the sales-tax. Sounds like a nice offer to me.
For more information please contact me at [email protected]
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Real Estate Market Update: Atlantic One at The Point of Aventura, FL
April 7th, 2009 categories: Aventura, Market Trends, Real Estate News
Atlantic One at The Point – 21200 Point Pl, Aventura, FL 33180
Built in 2004, there are 3 different floor plans:
- Model A – 2 bedrooms + family room, 2 1/2 baths – 2,733 sq ft
- Model B – 3 bedrooms, 3 1/2 baths – 3,173 sq ft
- Model C – 5 bedrooms, 5 1/2 baths – 4,171 sq ft
Each residence has private elevator, gourmet kitchen, granite counters, top of the line appliances, ocean and intracoastal views, high impact glass windows and sliding glass doors. The condominium has 24-hr security, private screening room, wine storage and more.
There are currently 20 Read the rest of this entry »
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Do You Want To Meet Face to Face With Your Lender?
March 24th, 2009 categories: Aventura, Community Events, Real Estate News
JP Morgan Chase & Co. Opens Foreclosure Prevention Centers
If you are behind on your mortgage payment and want to meet face to face with your lender then you are in luck if your lender is Chase. Chase opened a foreclosure-prevention center in Aventura mid-February and held an open house on Tuesday. The address of the center is 20803 Biscayne Blvd, Aventura, FL 33180. The center accepts walk-ins, but appointments are preferred. You can make an appointment by calling (305) 682-3018.
Chase says that it is the first lender in the nation to open these assistance centers. There are 5 centers in Florida. Chase will try to help all its clients to stay in their homes, but not everyone will qualify for loan modifications. Delinquent borrowers who visit the centers will be assigned a housing counselor who will stay with them throughout the modification process. You are eligible to visit one of these centers if Chase services your loan. You can tell if Chase services the loan because the mortgage statement will refer to Chase, Washington Mutual (WaMu) or EMC.
Unfortunately you must be behind on your mortgage payment if you want to visit the center. If you are still current on your Chase mortgage, but you may be in default very soon, call (866) 550-5705.
For more information please contact me at [email protected]
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Real Estate Market Update: Island Way Homes of Aventura, FL
March 23rd, 2009 categories: Aventura, Market Trends
Island Way Homes, Aventura, FL 33180
Island Way Homes were built from 1991 – 1993 . The community consists of a total of 80 zero lot-line single family homes each with its own splash pool. 18 of the homes are waterfront, but do not have boat docks. Community amenities include a 24-hr manned security gate, community pool, child play area and walking distance to The Waterways Shoppes and Marina. There are 5 different model homes available as follows:
- St. Croix: 3 bedroom 3 1/2 bath, 2-car garage – 2,390 sq ft living space
- St. Tropez: 3 bedroom + family room 3 bath, 2-car garage – 2,750 sq ft living space
- St. Anne: 4 bedroom + family room 3 bath, 2-car garage – 2,850 sq ft living space
- St. Elise: 5 bedroom + family room 3 bath, 2-car garage – 3,056 sq ft living space
- St. Martin: 3 bedroom + family room 3 1/2 bath, 1-car garage – 2,330 sq ft living space
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There are currently 5 homes for sale with prices ranging from $665,000 to $1.3 million.
During the past 12 months there were 7 closed sales with the following statistics:
- average selling price: $768,929
- average sale price per square foot: $275.19
- average square footage: 2,799
- sale price to list price ratio: 92.50%
- highest sale price: $970,000 (4 bedroom 3 bath – waterfront lot)
- lowest sale price: $662,500 (4 bedroom 3 bath – interior lot)
If you would like more information about Island Way Homes please contact me at (305) 329-4929 or [email protected]
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Just Listed: Atlantic III at The Point – Aventura, FL
March 11th, 2009 categories: Aventura, Listings
21050 Point Pl, #2601, Aventura, FL 33180
$699,000
$1,386 monthly maintenance fee
Brand new on the market, this 3 bedroom 2 1/2 bath home in the sky has 2,440 square feet of living space, marble floors throughout, custom built-ins in every closet, electric window treatments, upgraded fixtures, 2 private balconies, amazing views to the ocean and intracoastal as well as views to The Waterways marina. You arrive at the 26th floor via a private elevator that opens directly into your own private foyer entrance. You then enter a residence with mesmerizing views and spacious rooms. This home has a modern contemporary feeling that will appeal to all different tastes. The property is available for immediate sale and is in perfect condition. The Seller has Read the rest of this entry »
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Just Listed: Harbor Towers at The Waterways, Aventura FL
March 8th, 2009 categories: Aventura, Listings
Harbor Towers – 3598 Yacht Club Dr., #1403, Aventura, FL 33180
$489,000
$813 monthly maintenance fee
Built in 1993, this 20-story condominium is very unique because it is actually two towers combined in one building.
Tower I – 3598 Yacht Club Dr.
Tower II – 3600 Yacht Club Dr.
Each Tower is identical and has only 4 apartments per floor with 2 elevator banks. This gives a very private feeling with no long hallways like in most condominiums. A service corridor is located on each floor separating Tower I from Tower II. The service corridor is where residents can access the trash chute. Harbor Tower amenities include:
- 24-hr manned guard gate
- 24-hr manned lobby security desk
- valet parking is available or residents may self-park their car
- gym
- 2 heated swimming pools
- tennis
- extra storage for each resident
Unit #1403 – 2 bedrooms plus den (convertible 3rd bedroom) and 2 bathrooms. This corner unit has 1,820 square feet of living space plus 415 sq ft of balcony. This is one of the largest balconies I have seen in this price range. It truly can be thought of as another room except it happens to be outside. This property is in fantastic condition. The current owner used this property as a second home and has decided to take advantage of the current real estate market to upgrade to a much larger property. They have taken exceptional care of this unit and upgraded it with wood laminate floors throughout, Corian counter tops in the kitchen and bathrooms, upgraded the appliances, installed custom built-ins in all closets. The marble master bathroom has dual sinks, bidet, walk-in shower and whirlpool tub. The property also has it’s own laundry room inside the apartment. As an added bonus there are 2 assigned parking spaces in the garage. Last, but not least, is the magnificent view of The Waterways Yacht Harbor & Marina.
Take the video tour and see for yourself how nice it would be to call Harbor Towers home.
For more information please contact me at (305) 329-4929 or [email protected]
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Facts and Trends: Aventura, FL
March 2nd, 2009 categories: Aventura, Market Trends
Aventura Condos
November 2007 – January 2009
We can see from the chart that:
- 2,053 condos were for sale in 1/08 vs 1,732 condos for sale in 1/09 = 16% decrease in the number of condos for sale
- Amount of inventory went from 57 months supply last year to 31 months supply currently
- 55% increase in number of sales
Interesting Facts:
December 2008 – January 2009
Short Sale Inventory: 331 = 19% of total inventory for sale
Foreclosure Inventory: 31 = 2% of total inventory for sale
————–
Total 362 = 21% of total inventory for sale
Short Sale Closings: 18% of total closings
Foreclosure Closings: 32% of total closings
—————-
Total 50% of total closings
50% of all Closings for the period were Short Sales and Foreclosures.
For more information please contact me at [email protected]
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Short Sale: North Tower at The Point of Aventura, FL
February 26th, 2009 categories: Aventura, Listings
21205 Yacht Club Dr, #2302, Aventura, FL 33180
$510,000
$1,013 monthly maintenance fee
ocean, intracoastal & city view
This 3 bedroom 2 bath condo has 1,870 sq ft of living space plus 2 separate balconies. The property has marble floors throughout the living areas and carpet in the bedrooms. The kitchen features granite counter tops and white lacquered cabinetry. The marble master bathroom has a whirlpool tub, walk-in shower, 2 sinks and bidet. Additional features of this lovely property include Read the rest of this entry »
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