Archive for the 'Real Estate News' Category
Real Estate Market Report – Single Family Homes in Hollywood 33019
July 21st, 2009 categories: Hollywood, Market Reports, Market Trends, Real Estate News
Hollywood, FL 33019 – Single Family Homes
There are currently 191 single family homes listed for sale in the 33019 zip code.
- Highest priced listing: $7,000,000 (9 BR 9 BA 4 Half Baths in the Hollywood Lakes subdivision)
- Lowest priced listing: $169,000 (3 BR 1 BA in the Hollywood Terrace subdivision)
- Pending sales: 28
- Closed sales in the past 30 days: 9
- Highest sale price: $1,520,000 (6 BR 4.5 BA at 1449 Commodore Wy in Harbor Islands)
- Lowest sale price: $175,000 foreclosure (3 BR 2 BA at 820 N 13th Av in Hollywood Lakes)
Now take a look at the market by quartiles. Each quartile is 25% of the homes.
In the quartile market segments, we see the high-end (Quartiles 1 and 2) of the market in this zip code showing some price strength in recent weeks, while Quartile 4 is down and Quartile 3 is at a bit of a plateau. Without strong directional indication in pricing, we look at the Market Action Index (MAI) for a leading indicator of where prices in general are heading. The 90-day MAI is at 11 which strongly indicates a Buyer’s market.
For more information contact me at (305) 329-4929 or [email protected]
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Just Listed: Harborside at The Waterways in Aventura
July 17th, 2009 categories: Aventura, Listings, Real Estate News
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Harborside at The Waterways in Aventura – Great Buy! – $289,000.00
2 BR 2 BA with 1,430 sq ft of living space and large balcony with glass railing. Wonderful views south to The Waterways Marina & Yacht Harbor. The property is in very nice condition and priced for a fast sale. Property features: 3-assigned parking spaces, large marble master bathroom with dual sinks, separate shower and whirlpool tub, full size washer & dryer and hurricane shutters. Building amenities include 2 heated swimming pools, tennis courts, gym, 24-hr manned security and walking distance to Waterways shops & restaurants. (1) pet permitted up to maximum weight of 15 lbs.
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All information in this site is deemed reliable but is not guaranteed and is subject to change
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Facts and Trends – Miami-Dade County Condo/Townhomes
July 15th, 2009 categories: Market Trends, Real Estate News
Number of Homes For Sale vs. Sold – April 2008 thru June 2009
Price Range: $300,000 to $1,000,000
This range makes up 29% of the current inventory of condo/townhomes on the market and 16% of the current sales.
June 2008: 8,436 / 204 = 41 month supply of inventory
June 2009: 5,475 / 147 = 37 month supply of inventory
The analysis of this 1 year period shows a 35% decrease in inventory for sale and a 28% decrease in sales.
For more information contact me at (305) 329-4929 or [email protected]
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Real Estate Market Report – Condominiums in 33160
July 13th, 2009 categories: Market Reports, Market Trends, Real Estate News, Zip Code 33160
Condominiums in zip code 33160 (including Sunny Isles Beach & North Miami Beach)
There are currently 2,084 condominiums listed for sale in the 33160 zip code.
- Highest priced listing: $12,900,000 (4 BR 4.5 BA at Acqualina Ocean Resort)
- Lowest priced listing: $40,000 (cabana w/ bathroom at Oceania III Condo)
- Pending Sales: 263
- Closed sales in the past 30 days: 60
- Highest sale price: $2,000,000 (4 BR 6.5 BA at Turnberry Ocean Colony)
- Lowest sale price: $35,000 foreclosure (1 BR 1 BA at Tall Trees Condo)
Now take a look at the market by quartiles. Each quartile is 25% of the homes.
In the quartile market segments, we see the lower half of this zip code is showing slight pricing weakness, while the upper half of the market is slightly positive. Quartile 1 has been trending up recently, but unless we see a persistent up-shift in the Market Action Index (MAI), it will likely resume the trend of the rest of the market. Currently the MAI for this market is 11 signifying a Buyer’s market.
For more information contact me at (305) 329-4929 or [email protected]
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Real Estate Market Report – Aventura Single Family Homes
July 8th, 2009 categories: Aventura, Market Reports, Market Trends, Real Estate News
Aventura, FL 33180 – Single Family Homes as of 7/03/09
This Week
The median single family home price in Aventura 33180 this week is $497,450. Inventory has been tightening and days-on-market increasing recently. The Market Action Index (MAI) has been basically flat.
Price
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. We will be looking for a persistent upward ship in the MAI as a leading indicator for a trough in prices.
Price and Value
The market’s downward trends are shared across both price and value. People are recently placing less value on homes (you can see the recent declines in price per square foot as evidence). Look for significant changes in the MAI as a precursor to price and value changes.
Inventory
Inventory has been falling in recent weeks with 60 properties available this week.
Market Action Index
Aventura 33180 is quite strongly in the Buyer’s Market zone. The 90-day MAI stands at 15.
Days On Market
The properties have been on the market for an average of 262 days. Half of the listings have come newly on the market in the past 231 or so days. Watch the 90-day DOM trend for signals of a changing market.
The Real Estate Market Report is posted on a weekly basis. Look for updates in the coming weeks. For more information contact me at (305) 329-4929 or [email protected]
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Real Estate Market Report – Aventura Condominiums
July 7th, 2009 categories: Aventura, Market Reports, Market Trends, Real Estate News
Aventura, FL 33180 – Condos & Townhomes as of 7/03/09
This Week
The median condominium price in Aventura 33180 this week is $360,000. Inventory has been tightening and days-on-market increasing recently. The Market Action Index (MAI) has been basically flat.
Price
Recently price has settled at a plateau even though they dipped this week. Look for a persistent up-shift in the MAI before we see prices significantly move from these levels.
Inventory
Inventory has been Read the rest of this entry »
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Classic Residence by Hyatt Offers Retirement Living in Aventura
July 6th, 2009 categories: Aventura, Real Estate News, Retirement Communities
Classic Residence by Hyatt – an Independent Living Retirement Community
Lately I have made a number of new clients that have older adult parents living in Aventura, while the majority of family members live out of the area. The older adult parents are aging and their family members are very concerned about their loved ones living alone. A great solution for some people is the Classic Residence by Hyatt in Aventura. Classic Residence by Hyatt offers residents independent living with peace of mind. It offers beautifully designed homes plus additional care on site such as state-of-the-art care centers and private accommodations for assisted living, Alzheimer’s and dementia care and skilled nursing on site so that residents continue to stay in the community, close to their spouse, friends and neighbors, even if their care needs change. This is important to both the older adults and their children. For those older adults already living in Aventura, the Classic Residence by Hyatt Aventura location enables them to remain in the same area that they are used to and enjoy.
My knowledge and expertise of the Aventura real estate market combined with patience and understanding that can sometimes be necessary when working with older adults has enabled me to handle the sale of the client’s current Aventura residence, making the move to the Classic Residence by Hyatt a smooth and easy one.
Last week I visited a client that had just moved to the Classic Residence. The valet took my car and directed me to the lobby which was beautifully decorated like many of the upscale condominiums I sell in the area. The lobby attendant called Read the rest of this entry »
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Condominium Real Estate Market Report for Aventura, FL
June 29th, 2009 categories: Aventura, Market Reports, Market Trends, Real Estate News
Aventura, FL 33180 – Condominiums & Townhomes as of 6/19/09
This Week
The median condominium price in Aventura 33180 is $360,000. Inventory has been tightening and days-on-market increasing recently. The Market Action Index (MAI) has been basically flat, not providing strong indication for market conditions.
Price
This week we again see Read the rest of this entry »
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Real Estate Market Report Aventura, FL
June 12th, 2009 categories: Aventura, Market Reports, Market Trends, Real Estate News
Aventura Real Estate – Condominiums
There are currently 1,726 condominiums listed for sale in Aventura.
- Highest priced listing: $6,000,000 (3 BR 6 BA at Towers of Porto Vita-North)
- Lowest priced listing: $59,900 (1 BR 1 BA at Point East)
- Pending sales: 244
- Closed sales in the past 30 days: 73
- (the highest sale price of $1,650,000 for 5 BR 5 1/2 BA in Bella Mare and the lowest sale price of $50,500 for 1 BR 1 BA in Point East)
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Now take a look at the market by quartiles. Each quartile is 25% of the homes.
For more information contact me at (305) 329-4929 or [email protected]
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FAR Misses The Jumbo Mortgage Mark
June 9th, 2009 categories: Aventura, Real Estate News
The Florida Association of Realtors Early Bird News is typically a source of relevant and accurate industry news for Real Estate professionals and consumers alike. However, recently this publication has been the source of some misinformation that needs to be clarified.
On Friday June 5th Early Bird News included a link to a short article indicating that move up and luxury home buyers were holding off on purchasing homes “because they don’t want to pay jumbo mortgage rates“. If any buyer is not taking advantage of the incredible deals in Miami and Florida housing markets because they think jumbo rates are high then they are talking to the wrong mortgage banker.
Jumbo mortgage money is readily available and at rates that are below historic lows and in some instances even below conforming rates.
Here is a brief indication of current jumbo rates assuming loan amount greater than $1,000,000 with no points.
10% Down – 5/1 ARM 6.5%* 7/1 ARM – 6.75% 10/1 ARM – 6.875%
20% Down – 5/1 ARM 6.125% 7/1 ARM – 6.375% 10/1 ARM – 6.625%
35% Down – 5/1 ARM 4.75% 7/1 ARM – 5.125% 10/1 ARM – 6.00%
As you can see Read the rest of this entry »
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