Archive for the 'Market Trends' Category
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 »
| Discussion: 1 Comment »
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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Will Mortgage Rates Go Down?
March 19th, 2009 categories: Market Trends, Real Estate News
Federal Reserve Makes An Annoucement: Mortgage Rates fall below 5%
The Fed just announced that they will buy another$300 billion in long-term government bonds and $750 billion in mortgage backed securities guaranteed by Fannie Mae and Freddie Mac.
Will this cause a big drop in mortgage rates? Not necessarily, although analysts expect rates will decrease 0.25 to 0.5 percentage points. The Fed’s actions create a demand for mortgage backed securities which should most likely keep home loan rates from increasing for the foreseeable future. This is good news for home buyers who realize that now is the time to buy and want to take advantage of the bargain prices that are out there. However, based on what the Fed has been buying when they started their purchasing program at the beginning of this year, their actions may keep a lid on rates, but may not push them much lower.
By the close of business on March 19, the 30-year conforming FRM fell to 4.94%, according to HSH Associates. With rates this low and so many bargains out there, what is keeping you from buying? Don’t wait until prices start to rise. Take advantage of today’s low interest rates.
Contact me if you have any questions at [email protected]
| Discussion: 4 Comments »
Are Homeowner’s In Denial About Their Home’s Value?
March 12th, 2009 categories: Market Trends, Real Estate News
Homeowner Perception Changing
According to a recent Zillow Q4 Confidence Survey, 57% of Homeowners believe that their home lost value during 2008. An obvious increase from earlier in 2008 when only 38% believed that their home value was declining.
In reality, 76% of all homes in the U.S. lost value during 2008 (according to Zillow Q4 Real Estate Market Report).
However, most homeowners apopear to believe that the worst may be over. According to the same survey, 70% of homeowners believe their home’s value will either increase or stay the same during the first 6 months of 2009. Only 30% believe the values will continue to decrease.
While it’s clear that more homeowners seem to be accepting the reality of significant loss in their home’s value, there still seems to be an optimism about the future. When asked, most homeowners seem to believe we’ve hit bottom and the worst has passed.
Unfortunately, the data from the report shows that most areas of the country will see housing values continue to decline before things begin to stabilize.
Interestingly, 70% of homeowner’s think their home’s value will increase or stay the same during the first half of 2009, but only 52% believe home values in their local area will increase or stay the same for the same period. 48% think values in their local area will decrease, but only 30% believe the same will happen to their home.
Comparing homeowner’s perceptions from different parts of the country, Southerners perceptions were the farthest from reality.
For more information please contact me at [email protected]
| Discussion: 1 Comment »
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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Real Estate Market Update: Portsview at The Waterways – Aventura, FL
February 23rd, 2009 categories: Aventura, Market Trends, Real Estate News
Portsview at The Waterways – 3610 Yacht Club Dr, Aventura, FL 33180
Portsview at The Waterways
Units range from 1,053 sq ft up to 1,429 sq ft plus balcony with glass railings. Amenities include 2 heated swimming pools, 2 tennis courts, gym, 24-hr lobby security and 24-hr manned guard gate. All Portsview apartments have individual washers & dryers located inside each unit. The property is located on Read the rest of this entry »
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Real Estate Market Update: Atlantic Three at The Point of Aventura, FL
February 12th, 2009 categories: Aventura, Market Trends
Atlantic Three at The Point - 21050 Point Pl, Aventura, FL 33180
Units range from 2,440 sq ft up to 3,410 sq ft each with a private elevator opening directly into the property. The Atlantic Three offers the following apartment plans:
Atlantic Three at The Point
- 2 bedroom + den (optional 3rd bedroom) 2 1/2 bath units with intracoastal/ocean views – 2,440 sq ft
- 3 bedroom 2 1/2 bath flow thru units with both northeast and southeast intracoastal/ocean views – 2,630 sq ft
- 3 bedroom 2 1/2 bath flow thru units with both northeast and southeast intracoastal/ocean views – 2,690 sq ft
- 2 bedroom + den (optional 3rd bedroom) 3 1/2 bath units with intracoastal/ocean views – 2,970 sq ft
There are currently 15 units for sale in the Atlantic Three at The Point with prices ranging from Read the rest of this entry »
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Real Estate Market Update: South Tower at The Point of Aventura, FL
February 10th, 2009 categories: Aventura, Market Trends
South Tower at The Point – 21055 Yacht Club Dr, Aventura, FL 33180
welcome to South Tower
Units range from just over 1,500 sq ft up to 1,872 sq ft. The South Tower offers the following apartment plans:
- 2 bedroom 2 bath units with views to The Waterways Marina
- 2 bedroom plus den 2 bath units with intracoastal/ocean views
- 3 bedroom 2 bath flow thru units with marina views and intracoastal/ocean views
- 3 bedroom 2 bath plus hobby room flow thru units with marina views and intracoastal/ocean views
- 2 bedroom plus den 2 bath corner units with marina views or intracoastal/ocean views
- 3 bedroom 2 bath corner units with marina views or intracoastal/ocean views
There are currently 16 Read the rest of this entry »
| Discussion: 2 Comments »
One Island Place Market Update
January 26th, 2009 categories: Market Trends, Real Estate News
One Island Place was built between 1990 and 1991 and is comprised of two 30-story hi-rise towers.
One Island Place
- Tower I – 3801 NE 207 St
- Tower II – 3802 NE 207 St
Units range from just over 2,200 sq ft all the way up to 7,340 sq ft for the Penthouse. One Island Place was the first highrise condominium in Aventura to have private elevators that open directly into the property. Here you can find some of the best intracoastal and ocean views in the area, and almost every apartment has some sort of water view.
There are currently 8 units for sale at One Island Place with prices ranging from $575,000 to $3,895,000. During the 12 month period for 1/1/08 – 12/31/08 there were 6 closed sales.
View from One Island Place
- average Selling Price: $576,083
- average sale price per square foot: $253
- average square footage: 2,277
- sale price to list price ratio was 90.22%
- highest sale price: $650,000
- lowest sale price: $480,000
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