Friday, May 4, 2012
News to use for buying, selling, investing or just to know
May 2012
In this Issue: The news sellers have been waiting for! Buyer bidding wars, seller price increases, S. Fla census outpaces nation, builders back for new construction.
First up -- Knowledge is a powerful negotiating tool. Prices and market trends vary from neighborhood to neighborhood. Contact me for a real estate valuation consultation regarding the area where you want to buy or sell.
For a market snapshot of your neighborhood delivered to your email inbox, go to www.FeinRealtor.com and sign up for market snapshot for your Zip code
PRICES AND PENDING SALES UP IN MIAMI DADE AND BROWARD COUNTIES
Miami area home and condo prices increased for the 4th consecutive month according to my professional Board, the Miami Association of Realtors , which monitors area trends. Broward County real estate prices have increased 14 of the last 15 months, according to MAR. Inventory is lower than it's been since the boom with some areas showing less than a 6 month's supply, the standard for a 'normal' market. In Miami Dade County, pending sales, the number of residential properties that went under contract, increased in March over February, yet declined from March of last year [the opposite of nationwide as reported below]. Last year was a record breaking year in sales as people from all over the world took advantage of the large number of distressed properties for sale in South Florida. Pending sales increased in Broward County overall. There are just a fraction of distressed properties for sale as there were last year.
MANY LISTINGS PRICED AT MARKET VALUE ARE BEGINNING TO GET MULTIPLE OFFERS, DRIVING SALES PRICES HIGHER
______________________________________________________________________________________________________________
Introducing the newest member of the Fein Team
Natalia Abecasis, Realtor, joins the Fein Team at Prudential Florida Realty from EWM Realtors, also in Aventura. A native of Argentina and fully bilingual, Natalia moved to Aventura in 2008 after living in Massachusetts where she graduated from the Harvard Extension School with a Certificate in Management and later worked as a loan officer for a mortgage broker.
Natalia has an international and regional network and has proven herself to be an invaluable asset in helping her clients buy and sell properties.
She has a BA in Economics from the Universidad de Belgrano and a Certificate of Special Studies in Administration and Management for the Harvard Extension School. I am so excited to have Natalia join my team as I know she will be a tremendous asset to buyers and sellers with whom we work.
_____ ______________________________________________ _________ __ _
2010 US Census 2011 Update Shows Many
Florida Cities Rebounding. How About Yours?
Between 2010 and 2011, more than 90,000 people moved to the Miami-Fort Lauderdale-Pompano Beach area, a 1.7 percent increase and the sixth largest increase in the country as reported by the Florida Association of Realtors based on first revision to the 2010.
I took a closer look at the changes to cities in the past decade to find population declines in popular cities like Miami Beach and Pinecrest and major increases in other popular cities like Aventura and West. Ask me how your city compares.
From 2000-2010, the Florida census grew 17% since 2000, while US population grew less than 10%.
Miami-Dade 10.8 % increase Broward Count 7.7% increase
Aventura 41.5% increase Miami Beach .2% decrease
Pinecrest 4.4% decrease Weston 32% increase
Hollywood 1% increase
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In the Next issue of Fein Times in Real Estate -- Developers are back.
Find out what's being built and where. If you know someone who will benefit from this e-newsletter, please feel free to forward this to them with my regards.
To sign up for a copy of this enewsletter, email me at lori@feinrealtor.com
Monday, April 2, 2012
Miami Market Focus
Check out the latest information collected from the Miami Association of Realtors on South Florida's real estate market trends.
cut and paste in your browser here
http://clicks.skem1.com/preview/?c=3297&g=8723&p=8d790656493d08013a17a56f05d4d1b6
cut and paste in your browser here
http://clicks.skem1.com/preview/?c=3297&g=8723&p=8d790656493d08013a17a56f05d4d1b6
Florida a top market for international buyers
This just in from Inman News as reported by Florida Association of Realtors. More than 30% of international sales are in Florida, making the state the most popular for buyers from out of the country.
Saturday, March 31, 2012
Real estate in South Florida, Aventura a hot topic. Inventory drops as sales jump
Pending sales jump as inventory drops making it a great time to buy AND sell. The article in the link from THE REALDEAL.com shows pending sales South Florida inventory in February while below you will find information for Aventura condos and townhomes.
Although Feb 2012 had an extra day over Feb 2011, clearly the number of residential listings going under contract is increasing. In Aventura, pending sales for condos went up 23% in year over year as well as over January. Right now there are only 19 bank owned listings for sale in Aventura and 56 short sales listed for sale -- about 8% of what is for sale. Last year more than 35% of sales of Aventura condos were short sales or foreclosures. Interest rates are back below 4%. Now are you ready to buy?
Although Feb 2012 had an extra day over Feb 2011, clearly the number of residential listings going under contract is increasing. In Aventura, pending sales for condos went up 23% in year over year as well as over January. Right now there are only 19 bank owned listings for sale in Aventura and 56 short sales listed for sale -- about 8% of what is for sale. Last year more than 35% of sales of Aventura condos were short sales or foreclosures. Interest rates are back below 4%. Now are you ready to buy?
Thursday, July 28, 2011
Aventura Faces Condo Resale Shortage -- according to Miami Herald [and me]
Thought you may be interested in this article from this week's Miami Herald Business Monday describing how real estate transactions in Aventura are up 27% for the first six months of 2011 over the same time period last year. Inventory overall is shrinking as buyers are coming from all over the world to purchase condos either for investment and/or a second home. Many first time buyers and people moving to the area also are taking advantage of the currently low interest rates.
The article addresses distressed sales [foreclosures and short sales], which according to the MLS show that 38% of condo/townhome sales the first half of 2011 as compared to 36% of distressed sales Jan - June 2010. Many of the distressed sales need rennovations or upgrades to be equal to a resale recently rennovated.
If you read the article, it states that Aventura prices today are 46% below where they were at their peak in 2006. What it neglects to mention [and what annoys me whenever I see these numbers reported] is that prices in 2006 were double ABOVE what they were five years before then [2002]. Right now only 16% of 923 condos/townhomes for sale are distressed sales and those that have gone under contract recently have received multiple offers. The market is definitely shifting in Aventura.
Thought you might find this information of interest. If I may continue to be your real estate resource for yourself and referrals, it would be a privilege. Regards.
Here is the link to the article.
http://www.miamiherald.com/2011/07/24/2327818/aventura-faces-shortage-of-condo.html
The article addresses distressed sales [foreclosures and short sales], which according to the MLS show that 38% of condo/townhome sales the first half of 2011 as compared to 36% of distressed sales Jan - June 2010. Many of the distressed sales need rennovations or upgrades to be equal to a resale recently rennovated.
If you read the article, it states that Aventura prices today are 46% below where they were at their peak in 2006. What it neglects to mention [and what annoys me whenever I see these numbers reported] is that prices in 2006 were double ABOVE what they were five years before then [2002]. Right now only 16% of 923 condos/townhomes for sale are distressed sales and those that have gone under contract recently have received multiple offers. The market is definitely shifting in Aventura.
Thought you might find this information of interest. If I may continue to be your real estate resource for yourself and referrals, it would be a privilege. Regards.
Here is the link to the article.
http://www.miamiherald.com/2011/07/24/2327818/aventura-faces-shortage-of-condo.html
Friday, April 22, 2011
City of Aventura Residents Have Access to Easy to Use Prescription Discount Card Launched Today
NEWS RELEASE
City of Aventura
Government Center
19200 West Country Club Drive ● Aventura, Florida 33180
For Immediate Release
Date: 4/22/11
Contact: Eric M. Soroka, City Manager
Phone: (305) 466-8910
Fax: (305) 466-8919
City of Aventura Residents Have Access to Easy‐to‐Use Prescription
Discount Card Launched Today
In the current economic climate, where people are watching their spending, discount card can
offer average savings of 20 percent off the retail price of prescription drugs
The City of Aventura today launched a program to help provide residents with some relief from the high
cost of prescription drugs. The city is making free prescription discount cards available to city residents
through a program sponsored by the National League of Cities (NLC). The discount cards offer city
residents average savings of 20 percent off the retail price of commonly prescribed medications.
The discount cards may be used by all residents of the City of Aventura and has no restrictions based on
the resident’s age, income level, or existing health coverage. The discount card benefits not only those
without insurance, but can also be used by underinsured residents to obtain prescriptions that are
excluded from health benefit plans. The NLC card can be used when purchasing prescription drugs at
most pharmacies around the city, as well as at more than 60,000 participating retail pharmacies across
the country.
“In the current economic climate, where many people are watching what they spend, the City of
Aventura is happy to partner with the National League of Cities to make this prescription discount card
available for our residents,” said City Manager, Eric Soroka. “Whether or not an individual has
prescription coverage, this program can make it easier for our residents to afford the medications they
need to deal with a short‐term illness or stay healthy by managing a chronic condition.”
Stay informed! Get City news instantly by visiting MyAventura’s Message Center on the City’s
website at www.cityofaventura.com and subscribe to our email publications.
@cityofaventura
Cards can be printed from the Internet at www.caremark.com/nlc and are available at the Aventura
Government Center and the Aventura Community Recreation Center at no cost to city residents. City
residents can visit www.caremark.com/nlc to access program tools or call toll‐free 1‐888‐620‐1749 for
assistance with the program.
“Not only does the NLC prescription discount card help residents save money on their medications, it is
easy to use,” said Eric Soroka, City Manager. “Aventura residents only have to show their card when
purchasing medication at one of the many participating pharmacies. There is no enrollment form
required to get a card, no membership fee of any kind and city residents and their family members can
use the card any time their prescriptions are not covered by insurance.”
The discount card program is administered by CVS Caremark.
About The National League of Cities
The National League of Cities (NLC) is the nation’s oldest and largest organization devoted to
strengthening and promoting cities as centers of opportunity, leadership and governance. NLC is a
resource and advocate for 19,000 cities, towns and villages, representing more than 218 million
Americans. To learn more about NLC, go to www.nlc.org.
Eric M. Soroka
City Manager
City of Aventura
Government Center
19200 West Country Club Drive ● Aventura, Florida 33180
For Immediate Release
Date: 4/22/11
Contact: Eric M. Soroka, City Manager
Phone: (305) 466-8910
Fax: (305) 466-8919
City of Aventura Residents Have Access to Easy‐to‐Use Prescription
Discount Card Launched Today
In the current economic climate, where people are watching their spending, discount card can
offer average savings of 20 percent off the retail price of prescription drugs
The City of Aventura today launched a program to help provide residents with some relief from the high
cost of prescription drugs. The city is making free prescription discount cards available to city residents
through a program sponsored by the National League of Cities (NLC). The discount cards offer city
residents average savings of 20 percent off the retail price of commonly prescribed medications.
The discount cards may be used by all residents of the City of Aventura and has no restrictions based on
the resident’s age, income level, or existing health coverage. The discount card benefits not only those
without insurance, but can also be used by underinsured residents to obtain prescriptions that are
excluded from health benefit plans. The NLC card can be used when purchasing prescription drugs at
most pharmacies around the city, as well as at more than 60,000 participating retail pharmacies across
the country.
“In the current economic climate, where many people are watching what they spend, the City of
Aventura is happy to partner with the National League of Cities to make this prescription discount card
available for our residents,” said City Manager, Eric Soroka. “Whether or not an individual has
prescription coverage, this program can make it easier for our residents to afford the medications they
need to deal with a short‐term illness or stay healthy by managing a chronic condition.”
Stay informed! Get City news instantly by visiting MyAventura’s Message Center on the City’s
website at www.cityofaventura.com and subscribe to our email publications.
@cityofaventura
Cards can be printed from the Internet at www.caremark.com/nlc and are available at the Aventura
Government Center and the Aventura Community Recreation Center at no cost to city residents. City
residents can visit www.caremark.com/nlc to access program tools or call toll‐free 1‐888‐620‐1749 for
assistance with the program.
“Not only does the NLC prescription discount card help residents save money on their medications, it is
easy to use,” said Eric Soroka, City Manager. “Aventura residents only have to show their card when
purchasing medication at one of the many participating pharmacies. There is no enrollment form
required to get a card, no membership fee of any kind and city residents and their family members can
use the card any time their prescriptions are not covered by insurance.”
The discount card program is administered by CVS Caremark.
About The National League of Cities
The National League of Cities (NLC) is the nation’s oldest and largest organization devoted to
strengthening and promoting cities as centers of opportunity, leadership and governance. NLC is a
resource and advocate for 19,000 cities, towns and villages, representing more than 218 million
Americans. To learn more about NLC, go to www.nlc.org.
Eric M. Soroka
City Manager
Tuesday, February 8, 2011
Pending Home Sales Continue to Rise
January 2011 Dade PHS: Miami-Dade Pending Home Sales Continue to Rise Submitted by lynda@miamire.com on January 27, 2011 - 11:33am
in Press
View the Printed Press Release:
pendingsalesDadejan012711.pdf.Miami, FL – Total cumulative pending home sales – including single-family homes and condominiums - in Miami-Dade County increased 28 percent in January compared to a year earlier, from 8,388 to 10,698, and 2.5 percent, from 10,437, compared to the previous month according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).
“Over the last few months, we have seen pending and closed sales gain momentum while inventory levels continue to drop, said Jack H. Levine, 2011 chairman of the board of the MIAMI Association of REALTORS. “This trend in rising sales, particularly for condominiums, coupled with significant reductions in housing inventory, is a very positive sign for the local market. We expect this trend to continue as the job market, economy, and consumer confidence improve.”
Pending Condominium Contract Activity on the Rise
Pending sales of condominiums in Miami-Dade County continue to outperform that of single-family homes. In January, condominium pending sales increased a significant 37.2 percent compared to a year ago, from 4,647 to 6,376 and increased 3.3 percent from 6,173 the previous month. Pending sales of single-family homes in January increased 15.531 percent from the previous year, from 3,741 to 4,322, and 1.4 percent from the previous month, when pending single-family home sales totaled 4,264.
Significant Reduction in Housing Inventory
The Miami-Dade real estate market continues to experience drops in housing inventory. Supply for all housing types has dropped 47 percent since mid-2008 and eight percent compared to a year ago. Just over the last month, inventory in the county dropped six percent, pointing to increased demand for local properties.
“Local buyers are taking advantage of the many opportunities the South Florida offers, including high affordability that continues to boost contract activity,” said 2011 MIAMI Association of REALTORS Residential President Ralph E. De Martino. “International buyers continue to have a significant impact in rising sales and declining inventory in the local market.”
Increased pending sales are an indication of increased future sales. A sale is listed as pending when a contract is signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating more than 90 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 25,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is www.miamire.com.
###
in Press
View the Printed Press Release:
pendingsalesDadejan012711.pdf.Miami, FL – Total cumulative pending home sales – including single-family homes and condominiums - in Miami-Dade County increased 28 percent in January compared to a year earlier, from 8,388 to 10,698, and 2.5 percent, from 10,437, compared to the previous month according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).
“Over the last few months, we have seen pending and closed sales gain momentum while inventory levels continue to drop, said Jack H. Levine, 2011 chairman of the board of the MIAMI Association of REALTORS. “This trend in rising sales, particularly for condominiums, coupled with significant reductions in housing inventory, is a very positive sign for the local market. We expect this trend to continue as the job market, economy, and consumer confidence improve.”
Pending Condominium Contract Activity on the Rise
Pending sales of condominiums in Miami-Dade County continue to outperform that of single-family homes. In January, condominium pending sales increased a significant 37.2 percent compared to a year ago, from 4,647 to 6,376 and increased 3.3 percent from 6,173 the previous month. Pending sales of single-family homes in January increased 15.531 percent from the previous year, from 3,741 to 4,322, and 1.4 percent from the previous month, when pending single-family home sales totaled 4,264.
Significant Reduction in Housing Inventory
The Miami-Dade real estate market continues to experience drops in housing inventory. Supply for all housing types has dropped 47 percent since mid-2008 and eight percent compared to a year ago. Just over the last month, inventory in the county dropped six percent, pointing to increased demand for local properties.
“Local buyers are taking advantage of the many opportunities the South Florida offers, including high affordability that continues to boost contract activity,” said 2011 MIAMI Association of REALTORS Residential President Ralph E. De Martino. “International buyers continue to have a significant impact in rising sales and declining inventory in the local market.”
Increased pending sales are an indication of increased future sales. A sale is listed as pending when a contract is signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating more than 90 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 25,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 60 international organizations worldwide. MIAMI’s official website is www.miamire.com.
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