South Florida home prices may rebound in 2011

South Florida Real Estate - Miami Condos for Sale

As we enter into 2011, South Florida real estate watchers are keeping an eye on the Florida housing market. Analysts predict that the market will “bottom out” nationally in 2011. Some forecasters believe we already have.

Zalewski showed CBS4’s Joan Murray a high rise where he says you can pick up Miami condos for sale for under $200,000. He believes east of 95, we’ve already hit bottom.

Full Article and Video.......South Florida home prices may rebound in 2011

Luxury home for sale in Miami Beach, Biggest price cut

Luxury homes for sale in Miami Beach - Miami real estate

The Miami real estate property to see the biggest price cut this week was a luxury home for sale in Miami Beach.

The $2.495 million luxury home for sale in Miami Beach saw a $255,000, or 9 percent, price drop since it was originally placed on the market at $2.8 million in March. The price was last cut to $2.75 million in April.

Full Details...Luxury home for sale in Miami Beach, Biggest price cut

Pending Home Sales Rise October 2010

October Pending Home Sales - Miami Real Estate

According to a report released December 2nd by the National Association of Realtors, the number of pending home sales rose in October, showing a positive upward movement since bottoming in June. Based on contracts signed in October, the Pending Home Sales Index showed that sales rose 10.4 percent to 89.3 from September’s pending home sales.

There was a 0.4 percent increased for residential Miami real estate in October compared to pending home sales in September, according to the Miami Association of Realtors. Pending sales for Miami condos was up 0.7 percent to 5,878 for the month which was 34 percent higher than in October 2009.

Full Article....Pending Home Sales Rise October 2010

Foreign buyers keep residential Miami real estate afloat

Foreign Buyers - Residential Miami real estate

The residential Miami real estate market continues to be driven by International buyers, particularly from Latin American countries like Brazil.

According to data from the Miami Association of Realtors, in October, pending home sales for single-family homes and Miami condominiums, increased 23.6 percent compared to October 2009. Last month there were 10,264 pending home sales, up from 8,304 in October 2009. Many of these residential Miami real estate sales were driven by foreign buyers, mainly from Brazil.

Full Article...Foreign buyers keep residential Miami real estate afloat

The Heat’s Chris Bosh buys Miami Beach Home

Miami Beach Homes, Miami Real Estate

Following his joining Miami’s basketball team, Heat’s big man, Chris Bosh, has purchased one of the Miami Beach homes located on North Bay Road. The 12,000-square-foot mansion is just south of La Gorce Island and was purchased by Chris Bosh for $12.5 million. The seven-bedroom, eight-bathroom mansion was built in 2009 and sold for $12.5 million, $3.5 million less than the listing price.

Full Article...The Heat’s Chris Bosh buys Miami Beach Home

Miami Realtors believe US home prices are dropping

Miami Realtors believe US home prices are dropping, Miami real estate

According to a third-quarter survey from home price tracking website HomeGain.com, real estate professionals, homeowners and Miami Realtors alike have taken a negative view about the U.S. housing market. The survey, which interview roughly 1,100 real estate professionals and 2,600 homeowners, discovered that 90 percent of real estate agents and brokers believe now that home prices will remain flat or will experience a decline over the next six months.

Full Article...Realtors believe US home prices are dropping

Miami Realtors believe US home prices are dropping

Miami Realtors believe US home prices are dropping, Miami real estate

According to a third-quarter survey from home price tracking website HomeGain.com, real estate professionals, homeowners and Miami Realtors alike have taken a negative view about the U.S. housing market. The survey, which interview roughly 1,100 real estate professionals and 2,600 homeowners, discovered that 90 percent of real estate agents and brokers believe now that home prices will remain flat or will experience a decline over the next six months.

Full Article...Realtors believe US home prices are dropping

Prices slashed: Homes for sale in Miami

Homes for sale in Miami-Miami real estate

According to data from real estate website Trulia.com, eighteen percent of homes for sale in Miami saw their prices slashed in August by an average of 12 percent.

On the list of 50 cities, Miami homes actually ranked fairly low at Number 49 with $123.8 million in price reductions. Number 50 was Detroit, which had 16 percent of homeowners reducing prices, though they did cut deeper, at 25 percent.

Full Article....Prices slashed: Homes for sale in Miami

Homes prices fall as inventories rise nationwide

Miami home prices fall as inventories rise, Miami real estate

Some indicators show the real estate market has begun to turn a corner. The National Association of Realtors reported on September 2 that pending sales of existing houses increased 5.2 percent from June to July. According to the median of 37 forecasts in a Bloomberg survey, economists had estimated a 1 percent decline.

Nicolas Retsinas, director emeritus of Harvard University's Joint Center for Housing Studies, said during an August 31st interview on Bloomberg Television's that ''The market is starting to show some signs of stabilization but a robust recovery is a long time away.''

Lender Processing Services Inc., a Florida-based mortgage servicing company, reported on September 2nd that as of July 31st the number of U.S. homes in default or foreclosure fell to 7.04 million from a high of 8.12 million in January.

Full Article...Homes prices fall as inventories rise nationwide

Experts say: Now is good time to refinance your mortgage

Mortgage Rates - Miami homes

Howard Atkins, CEO of Wells Fargo, stated in the CNBC video below that any homeowners who can, should refinance now, given the low rates and subsequent wealth effect they would benefit from. He added that refinancing is good not only for Wells Fargo's mortgage business, but also for the economy. Atkins said that the $1.4 billion in reserves that banks have is enough to buy back the Fannie Mae and Freddie Mac sponsored troubled mortgages. Commercial real estate loans have been a definite drag on earnings for banks, according to CNBC's Brian Shactman, but will not threaten their businesses going forward.

Watch CNBC VIDEO

Foreclosures in Florida, Year-to-date stats for September

Foreclosures in Florida, Miami Real estate

Based on the most recent data available from Broward, Miami-Dade and Palm Beach counties, as of September 10th, 2009, there are 34,508 foreclosures in Florida year-to-date. That is 26,533 less than the 70,898 foreclosures this time last year. The graph below reflects the foreclosure activity for Broward, Palm Beach and Miami real estate. However, Broward’s records are not current through September 10th.

For more information on foreclosures in Miami or to speak with a Realtor regarding other Miami real estate for sale or for lease, you may contact MLR Realty at 305-673-3303 or go to www.MiamiLodgeRealty.com.

Terra Beachside Villas sees turnaround

Terra Beachside Villas, Miami Beach condos

Terra Beachside Villas broke ground seven years ago and for the past two years have sat unoccupied. This once distressed Miami Beach condo project has new owners, lower prices and local officials have given permission to begin occupancy.

According to Gregory Freedman, a principal at BH III, construction has restarted and more than half of the units have buyers. The developers for the Miami Beach condos located at 6000 Collins Avenue received a Temporary Certificate of Occupancy this week which allowed them to finalize contracts so new owners can move in. Residences at Terra Beachside Villas are priced between $250,000 and $685,000 and buyers have been found for almost 65% of the 117 units.

Full Article...Terra Beachside Villas sees turnaround

"Leftover" Luxury Miami Beach Homes

Luxury Miami Beach Homes, Miami real estate

At the peak of the market in 2005 there were many ultra luxury Miami Beach homes built. Some of these Miami Beach homes were priced over $20 million and sat on the market idle through the end of the boom. Now these homes in Miami, referred to as "leftover houses" by Nelson Gonzalez, senior vice president at Esslinger-Wooten-Maxwell, are selling quickly.

Gonzalez says that "They put in all the best appliances, doors, hardware, landscaping, and moldings where before people used to skimp a bit, and the developers thought that the market was never going to end, and put in all the best of the best."

Full Article...."Leftover" Luxury Miami Beach Homes

10 Most Expensive Miami Homes Sold

Miami Homes - Miami Beach Real Estate

Follow the link below to see a list of the ten most expensive Miami homes sold in the area of Miami-Dade in the last three months. Four out of these ten Miami homes were Miami Beach real estate properties. The other Miami homes were sold in the Upper East Side, Coconut Grove, the Gables, Key Biscayne and Kendall.

Full Article...10 Most Expensive Miami Homes Sold

Miami foreclosure auction brings in $9.3 million

Miami Homes - Miami Real Estate

On August 1st, South Florida bargain hunters bought 154 foreclosed Miami real estate properties totaling $9.3 million at an auction in the Miami Beach Convention Center. That averages out to $60,390 per property.

The auction company, REDC, said that one home in Fort Lauderdale sold for $20,000. That was 91 percent less than its previous high value. And in Delray a home sold for $99,750, which was 51 percent off its highest value.

Full Article...Miami foreclosure auction brings in $9.3 million

Foreclosures in Florida, Year-to-Date Stats for July

Foreclosures in Florida, Miami real estate
Full Article...Foreclosures in Florida, Year-to-Date Stats for July

Miami Houses for Sale – Biggest Price Reduction

Miami houses for sale, Miami Beach real estate

There are many Miami houses for sale but this one received the biggest price reduction this week. Unit #6100 at 6100 Aqua Avenue in Miami Beach is a five bedroom, five bathroom condo in Aqua at Allison Island.

Full Article...Miami Houses for Sale – Biggest Price Reduction

Carlos Boozer sells his luxury waterfront home in Miami

Luxury waterfront home, Miami real estate

NBA free agent Carlos Boozer and his wife have sold their luxury waterfront home in Miami for $5.5 million. This was $1.8 million less than the original asking price for the waterfront Miami real estate property.

Built in 1996, the Mediterranean style luxury waterfront home in Miami was renovated in 2006 and sits on more than a third of an acre. The Miami real estate property is located right off of a private street with a gated entrance in the Grove and overlooks Biscayne Bay and has views of Key Biscayne.

Full Article...Carlos Boozer sells his luxury waterfront home in Miami

Foreclosures in Florida, Year-to-Date Stats for July

Foreclosures in Florida, Miami real estate

Full article...Foreclosures in Florida, Year-to-Date Stats for July

South Florida Pending Home Sales and Inventory

Pending home sales, Miami real estate

According to a report published Monday by Condo Vultures, South Florida's inventory of existing homes for sale has decreased by about have in the past 20 months and now it seems it is slowly growing again.

Full Article...South Florida Pending Home Sales and Inventory