AVENTURA, FL 33180 – CONDOS – TOWNHOMES

This Week

• The median list price in Aventura is $346,000
• Inventory is up
• Market Action is trending down recently
• Days-on-market appear to be trending lower, however the overall conditions are weakening a bit

Supply and Demand

• The Market Action Index has been trending lower for several weeks while prices have remained relatively stable.  If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

The Market Action Index answers the question “How’s the Market?”  By measuring the current rate of sale versus the amount of the inventory.  Index above 30 implies Seller’s Market Conditions.  Below 30, conditions favor the Buyer.

Price

• We continue to see prices in this zip code bouncing around this plateau.  Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

To subscribe to my Real-Time Market  Report, click here.  It’s all about what’s going on right now and it’s free!

For more information contact me at (305) 329-4929 or solovay.m@ewm.com.

Chairman’s Club

If you would like to work with a Top Producer contact me today at (305) 332-4260 or solovay.m@ewm.com.

Tax Credit Program

Learn how the home buyer tax credit can benefit you.  Ron Shuffield, President of EWM Realtors explains.

Click here to view the embedded video.

For more information contact me at (305) 329-4929 or solovay.m@ewm.com.

Esslinger Wooten Maxwell, Inc. Realtors Introduces New Texting Application

Just text EWM to 59559 from your cell phone to receive information on properties close to your location.

Click here to view the embedded video.

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EWM Realtors uses the latest technology to help you buy and sell real estate in South Florida.

Contact me to learn more about this and other new ways I can help you buy, sell or lease your property.  Michael Solovay, Broker Associate at EWM Realtors – Aventura , (305) 329-4929 or solovay.m@ewm.com.

American Recovery and Reinvestment Act of 2009

Eligible buyers must close by December 1, 2009 so it’s important to select a residence soon to make sure you don’t get left out.  The credit applies to first-time homebuyers, as well as individuals who have not owned a principal residence in the 3-year period prior to the purchase, and applies to homes purchased between January 1, 2009 and December 1, 2009.  The tax credit is equal to 10% of the purchase price, but capped at $8,000.  Certain income restrictions apply so be sure to visit www.irs.gov to learn more about eligibility requirements and limitations.

The credit:

• applies to purchases that close before December 1, 2009
• applies only to homes used as the taxpayer’s principal residence
• reduces a taxpayer’s tax bill or increases his or her refund, dollar for dollar
• is fully refundable, meaning the credit will be paid out to eligible tax payers, even if they owe no tax or the credit is more than the tax owed

Recovery:  First-Time Homebuyer Credit

First-Time Homebuyer Credit Questions and Answers: Basic Information

For more information please contact me at (305) 329-4929 or solovay.m@ewm.com

Aventura Hotel Aims To Lure Snowbirds Shopping For Real Estate

The Fairmont Turnberry Isle Resort & Club in Aventura, FL is offering a package aimed at snowbirds shopping for real estate bargains this winter.  The “Future Floridian” package includes:

• a “preferred list of Realtors”
• a city of Aventura guidebook
• GPS to navigate South Florida’s residential communities
• foot massages at the resort spa
• hotel accommodations

Package holders that end up buying a home also receive:

• a Florida welcome gift
• a resort stay discount for “future house guests”
• a $3,000 spending credit with the purchase of a membership at Turnberry Isle Resort & Golf Club

The rate, based on a 2-night minimum stay, starts at:

• $839 from October 1, 2009 – December 18, 2009
• $1,389 from December 19, 2009 – January 4, 2010
• $1,019 from January 5, 2010 – April 30, 2010

For more information on real estate bargains contact me at (305) 329-4929 or solovay.m@ewm.com

Retirement Planning:  Buy Real Estate in Your IRA

Most people do not realize that there is an IRS provision that let’s them use their Self-Directed IRA to purchase real estate. This can be an excellent way to invest in that foreclosure property you were interested in.   Remember, your investment grows tax free in an IRA.

What types of Real Estate can be used for IRA’s?      

• residential
• condos
• multifamily units
• land
• commercial strip malls
• hotels

Why have the IRA invest in Real Estate?

• dissatisfaction with stocks & bonds
• real estate is a tangible asset
• real estate produces rental income which is tax free until distribution
• great appreciation at this time with foreclosures & REO’s

Yes, you can hold property in your retirement account, but there are many rules so be careful.  A mistake can turn into a tax disaster.  Be sure to follow Self-Directed IRA rules. You have to get your dollars from your retirement custodian (probably your broker) to an independent custodian that offers real estate as an investment option. 

While real estate isn’t appropriate for everyone’s retirement account, it should at least be looked at as another option in retirement investment alternatives. Consult with an expert in the field.

For more information please contact me at (305) 329-4929 or solovay.m@ewm.com.

Aventura is an upscale community located on the Intracoastal  midway between Miami and Fort Lauderdale.

View Larger Map

The Point is located within The Waterways, an exclusive 176-acre waterfront community.  There are 5 highrise towers and 60 waterfront courtyard homes.  Near every business, cultural, entertainment and sporting center that South Florida has to offer, The Point is one of the last private waterfront communities in Aventura.

The Point of Aventura

At the center of The Point is the Residents Only Club & Spa.  This 25,000 square foot clubhouse is open to Point residents only and offers the following amenities:

• a casual cafe
• fully-equipped cardiovascular center
• state-of-the-art weight training center
• 1,500 sqare foot aerobics facility
• men’s and women’s personal treatment rooms
• separete men’s and women’s locker rooms
• sauna, steam and whirlpool facilities for both men and women
• outdoor Roman tub with waterfall
• hair and nail salon
• billiard room
• garden room for additional entertaining
• library for reading and relaxation
• landscaped deck areas for outdoor socializing
• access from all towers to the Club & Spa

The Point is considered one of South Florida’s premier communities.  The Point offers a

lifestyle full of amenities.  At The Point, residents have exclusive use of all amenities and common areas.  There are no annual membership dues.  The Point offers:

• 24-hour gatehouse
• 36-acreas of beautiful landscaping
• enourmous swimming pool, directly on the Intracoastal with whirlpool and snack bar
• two casual pools with landscaped garden decks and shaded areas
• children’s pool
• children’s play area
• barbecue area
• tennis center consisting of four lighted, Har Tru courts
• a one-mile walking path throughout the community, linking each tower with all recreational facilities

The Point residences consist of:

• The North Tower at The Point
• The South Tower at The Point
• Atlantic One at The Point
• Atlantic Two at The Point
• Atlantic Three at The Point
• Courtyards at The Point

Please contact me  at (305) 329-4929 to receive more information or to set up a guided tour of the fine residences located at The Point of Aventura.