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Portsview Condominium Market Update

Portsview Condominium Market UpdateHarborside and Portsview

PORTSVIEW

  • Apt 408 – 3 BR 2 BA – Just Sold February 2013 – $343,000
  • Apt 1112 – 2 BR 2 BA – For Rent – $1,700/month
  • Apt 911 – 2 BR 2 BA – For Rent – $1,600/month

HARBORSIDE

  • Apt 1104 – 2 BR 2 BA – Just Sold January 2013 – $310,000
  • Apt 607 – 2 BR 2 BA – Just Rented January 2013 – $1,800/month

Looking to buy or sell?  Contact me for more information on South Florida real estate at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Feeling Stressed about Your Real Estate Transaction?

Feeling Stressed about Your Real Estate Transaction? Simple Tips to Let Go of the Negative Energy

By Keith LoriaStress

Selling a home, especially in today’s housing market, can be one of the most stressful experiences of your life. The process is uncertain, unsettling and time-consuming, not to mention expensive.

That’s why it’s important to take care of yourself and try to relax when you can. Treat yourself to a special day away and put your home selling worries behind you for at least a few hours.

“I have seen many clients who look to me to take those cares away and massage can be a great stress reliever,” says Carrie Nash, a massage therapist operating in the D.C. area. “You can relax, let your mind wander and be soothed by the music as you let go of all the negative energy that surrounds the process of selling a home.”

Women can also take up yoga, do palates, get a facial, do their nails or indulge in any number of spa treatments.

For men, a round of golf is always a good stress reliever. Or they may want to enjoy a night out with their buddies, a game of cards or a trip to the bowling alley. Men can also take advantage of some spa treatments as well.

Couples should arrange a nice dinner, get together with old friends or even take in a play or comedy performance. Just remember not to let the conversation steer toward the house.

If you have kids, it’s important to understand that a home sale is tough on them, too. Plan a trip to a local amusement park or ballgame and take the time to enjoy being together as a family.

If you find yourself getting stressed out while in the middle of trying to negotiate Read the rest of this entry »

Written by Michael Solovay | Discussion: No Comments »

Why Is Location So Important When Buying a Home?

Why Is Location So Important When Buying a Home?Location Location Location

A: Location remains the single most important factor when choosing a home. It can make or break the value and desirability of a home.

Because everyone’s preferences vary, your lifestyle will determine the best place for you to live. Some people prefer the suburbs while others thrive on downtown living. If you favor city living, find out what part of the city suits you best – a fast-paced neighborhood or one slightly more subdued. Talk with the neighbors and keenly observe such things as traffic patterns, lifestyles, and even sounds and smells.

When choosing a town, take property taxes, schools, accessibility to work, services, recreation, and the character of the community into consideration.

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Top 5 Reasons to Buy a Home

Top 5 Reasons to Buy a HomeTop 5

1. Housing Affordability Still at Record High Levels

Each month the National Association of Realtors issues its “Housing Affordability Index,” which measures the ability of the average family, in a particular geographical area, to afford the average priced home for that area.  In February 2012 the national affordability index was 206.6.  This means that if a family with the median income of $60,974 wanted to purchase a median-priced existing singlefamily home at $157,100 (with a 20% down payment of $31,420), they would have 206.6% of the qualifying income needed to purchase that home.

2. Interest Rates Are at Historic Lows

It’s still a great time to take advantage of historically low interest rates.

3. Tax Advantages of Homeownership

Whether you’re a first-time buyer, up-sizing, or down-sizing, most homeowners qualify for tax breaks annually.  Please consult a tax advisor.

  • Interest paid on a home mortgage maybe tax deductible (up to the value of the primary residence)
  • Property taxes are typically deductible for most homeowners

Plus, for most homeowners, there are no capital gains taxes when a primary residence is sold.  Please consult a tax advisor.

4. Inventory of short sale Real Estate Owned (REO) properties

Also called lender-mediated, lender-owned, or non-traditional, these properties may appeal to bargain hunters looking for that hidden gem.

5. Inventory of homes overall is at an 6.4-month supply nationally. It is a buyer’s market!

More than 6 months of housing inventory indicates that it’s a buyer’s market, where traditionally buyers enjoy more choices and more bargaining power.

Regional differences in housing affordability from February 2011 to February 2012

Housing Affordability by Region

Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Aventura Condominium Offers Spectacular Views

Aventura Condominium Offers Spectacular Views

Aventura Condominium Offers Spectacular Views

Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 1 Comment »

For Sale: One Island Place Condominium

For Sale: One Island Place Condominium

Property Address: 3801 NE 207th St, Unit 902, Aventura, FL 33180

Price: $689,900.00

Maintenance Fee: $1,529.00/month

[youtube]http://www.youtube.com/watch?v=6Ta3qLd1j9s&feature=colike[/youtube]

This condominium located in the City of Aventura, FL, features 2 bedrooms plus a den, which can easily serve as a third bedroom, and 2 1/2 baths, in 2,370 sq ft of living space.  When you take the private elevator to the 9th floor and step into your own foyer the residence’s double doors open to reveal a luxurious and relaxed ambiance with stunning views of the Intracoastal and ocean.  An air of refined elegance is evident in all of the condominium’s interior spaces.  Sand colored ceramic tile floors and harmonizing couches and tables complement the surrounding blue skies and water.  The sizable center island kitchen features a Sub-zero refrigerator, Thermador appliances and Poggenpohl cabinetry.

Impressive amenities include:

  • 2 garage parking spaces
  • valet parking
  • 24-hr security gate
  • 24-hr lobby attendant
  • 2 heated swimming pools
  • fitness center
  • 2 tennis courts

This fully furnished residence, with 628 sq ft wrap around balcony and unparalleled water views, is a total stand out.

For more information or to schedule a private showing please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Summer 2011 Real Estate Market Update

Summer 2011 Real Estate Market Update

This real estate market update is presented by Ron Shuffield, President of EWM Realtors.  Today’s great values, which are truly half those 5 or 6 years ago,  are one reason why sales have taken off so much in 2011.  However, since January 2011 we have begun to see an increase in our prices, month after month.

[youtube]http://www.youtube.com/watch?v=ILUDyKW2h7U[/youtube]

Median Prices

Single Family Homes: Miami-Dade County

  • January 2011  $150,000
  • May 2011 – $180,000

Single Family Homes: Broward County

  • January 2011 – $165,000
  • May 2011 – $190,000

Condominiums: Miami-Dade County

  • January 2011 – $90,000
  • May 2011 – $124,000

Condominiums: Broward County

  • January 2011 – $68,000
  • May 2011 – $78,000

This is the best time to purchase real estate in South Florida in the past 6 years.

For more information on the South Florida real estate market please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Condo Prices for Aventura, FL vs. Miami-Dade County

Condo Prices for Aventura, FL vs. Miami-Dade County

Medium Chart

Medium Chart

Written by Michael Solovay | Discussion: No Comments »

Are You Looking For That Special South Beach Condo?

Are You Looking For That Special South Beach Condo?Admiral Towers Condominium

Admiral Towers Condo, Apt 706 – $299,000.00

In the heart of the South Beach Deco District you will find the Admiral Towers Condo.  This condo, located at 1020 Meridian Av in Miami Beach, is across from Flamingo Park and just 5 blocks to the beach.  Some of the features of this property that are uncommon to this neighborhood include:

  • an assigned parking space
  • swimming pool
  • balcony
  • views to the ocean and SoBe skyline

There is one unique property available in this condo that stands out from all the rest.  It stands out because the current owner has completely renovated the unit from top to bottom.  But, in addition to just a renovation, the layout was redesigned and improved upon creating this one-of-a-kind 1 bedroom + den/office, 1.5 bath apartment home that you will fall in love with.  Some of the many improvements include:

  • new kitchen with granite counter tops
  • stainless steel appliances
  • mahogany wood floors
  • a den/office that never existed before
  • renovated bathrooms
  • and the list goes on

The Admiral Towers Condominium is located at 1020 Meridian Av, Miami Beach, FL  33139.  To view pictures of this property click here.

For more information on this unique property contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Do You Believe It’s A Good Time To Sell Your Home?

Do You Believe It’s A Good Time To Sell Your Home?For Sale

In a recent Keeping Current Matters blog post by Steve Harney entitled Selling Your House?  5 Reasons To Do It NOW!, Steve gives us 5 strong reasons to sell now instead of waiting until later in the year.

1)  Interest Rates Are On The Rise

Interest rates are now over 5%.  As rates increase, the mortgage amount a buyer qualifies for decreases.  Eventually this will have a negative impact on prices.

2)  Your Dream Home Will Never Be Cheaper

If you are buying, COST should be more important than PRICE.  Cost can be dramatically impacted by rising mortgage interest rates.

3)  Buyers Are Out Early

Mounting evidence is showing that buyers are coming out earlier this year than the ‘Spring Buying Season’ due to the believe that now is a good time to buy.  That coupled with the increase in interest rates has started the buying season early.

Pete Flint, CEO of Trulia:

“We’re seeing a national resurgence of buyer and seller activity on Trulia.com.  In January alone, we expierenced an unprecedented level of site traffic including 11 million unique visitors – which is more than 70% year-over-year growth.  We are now experiencing 100,000 property views per minute.”

The National Association of Realtors just reported that the number of house sales increased 12.9% over last month.

4)  Inventory Increases Every Spring

Here is the number of listings available for sale in 2010

  • February – 3,531,000
  • March – 3,626,000
  • April – 4,029,000

Steve Harney believes that there will be an increase in these numbers in 2011 as there is a pent-up selling demand created by the weak market of the last few years.  If you sell now you won’t have to worry about this increasing competition.

5)  We Are In The Eye Of The Foreclosure Storm

As banks try to correct their foreclosure procedures, there is a large supply of discounted properties which have been delayed coming to market.  This inventory will be released sometime in the next few months.  Foreclosures sell on average at a 41% discount.  When they are released these properties will be competing with your house for buyers.  If you are looking to sell in 2011, you want to sell before this inventory becomes your competition.

Let’s sit down today and discuss the best options for you.  You can contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

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