Decline in home price index is good for buyers, not the economy

Home price index - Miami real estate

December 28th, 2010 -Robert Shiller talks about the decline in home prices in October on Bloomberg TV.

Contact MLR Realty at 305-673-3303 to speak with a Miami real estate agent regarding homes and condos for sale in Miami.

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

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

Fisher Island Condos – Biggest Price Cut

Fisher Island Condo - Miami Beach real estate

The Miami Beach real estate listing to see the biggest price cut this week is a Fisher Island condo. This three-bedroom, three-and-a-half-bathroom condominium was originally listed for $3.3 million when it hit the market in May.

Full Article...Fisher Island Condos – Biggest Price Cut

Land near downtown Miami Freedom Tower sold

Downtown Miami Condos - Miami Real Estate

The Miami real estate property located behind the landmark Freedom Tower, where developer Pedro Martin proposed building downtown Miami condos, has been purchased by a Hollywood investment group.

Martin, CEO of Terra Group, received city approval to build downtown Miami condos at the 63 story Freedom Square building. The proposal was controversial however because the Miami real estate condo tower would rise behind the 15-story Freedom Tower, which was an entryway to the U.S. for thousands of Cuban immigrants.

Full Article...Land near downtown Miami Freedom Tower sold

46 units purchased at the Capri South Beach Condos

Capri South Beach condos, Miami Beach real estate

With the intent of performing various renovations, Nadim Achi and Miami-based Fort Capital Management purchased 46 units out of a total 69 in the Capri South Beach condo building at the end of May. They have a five-year plan to sell the units with an eye toward buyers in New York and Brazil. Fort Capital's Achi is part of a new trend of bulk buyers that are now purchasing Miami Beach real estate but taking a more patient approach instead of flipping quickly like some investors do.

Peter Zalewski, founder of Condo Vultures, comments that: "It's kind of the trend now. There's a commitment of capital by the bulk buyer, it's different than what you had seen previously, where you buy and then try to resell. Now they buy and wait, and they're going to be more stringent on the prices they accept."

Full Article....46 units purchased at the Capri South Beach Condos

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

Marina Blue space to open eatery across from AAA

Miami retail space, Miami commercial property

The Miami Heat and their new dream team have possibly had an effect on another downtown Miami real estate property, the Marina Blue Condos. According to a report from Condo Vultures, Sergey Novov, a Sunny Isles Beach investor, paid $410 per square foot, $2.1 million, for 5,100 square feet of ground-floor Miami retail space. The Miami commercial property is across the street from American Airlines Arena and is expected to become a restaurant and bar, possibly including a micro-brewery.

Full Article...Marina Blue space to open eatery

Miami Realtors Associations Combine Forces

Miami Realtors - Miami Real Estate

Pending approval by the National Association of Realtors, the Realtor Association of Greater Miami and the Beaches (RAMB) has merged with the Realtor Association of Miami-Dade County (RAMDC).

The professional organizations will be called The Miami Association of Realtors and will also have a residential and commercial association as well as a Broward County board of governors, an international council and an educational foundation. Their combined membership will total 23,000 Miami Realtors.

Full Article...Miami Realtors Associations Combine Forces

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

Miami Condos for Sale – 15% price Reduction

Miami condos for sale, Miami Beach real estate

The biggest price reduction as of July 1st for Miami condos for sale is a 3,058 square foot listing in Miami Beach. According to data from Condo Vultures Realty, this three bedroom, three bathroom condo located at Murano Grande Portofino in Miami Beach was reduced in price by 15%.

Full Article...Miami Condos for Sale – 15% price Reduction

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

Sales of Luxury Condos in Miami Double

Condos in Miami - Miami Beach real estate

According one of the largest real estate brokerages in Miami-Dade and Broward, during March, April and May this year, over 135 condos in Miami priced at $1 million or more sold, almost doubling the number of units in that price range that sold during the same period in 2009, compared to 12 last year, in Broward, 17 $1 million-plus units sold during that time period this year.

Full Article....Sales of Luxury Condos in Miami Double

Foreclosures in Florida, Year-to-Date Stats

Foreclosures in Florida - Miami real estate


Full Article...Foreclosures in Florida, Year-to-Date Stats

Miami Luxury Condos – Biggest Price Reduction June 2010

Miami luxury condos - Miami Beach real estate

According to data from Condo Vultures Realty, out of all the Miami luxury condos this prime piece of Miami Beach real estate saw the biggest price reduction today. This four bedroom and four bathroom condo on Fisher Island at 5233 Fisher Island Drive is amongst some of the most expensive Miami luxury condos in the area.

Full Article...Miami Luxury Condos – Biggest Price Reduction June 2010

Senate approves home tax credit extension

Federal tax credit - Miami homes

On Wednesday, the U.S. Senate approved a plan to give buyers of Miami homes and buyers nationally an extended three months to finish qualifying for federal tax credit that boosted home sales this spring.

The move would extend the deadline to September 30th giving buyers of Miami homes time to complete their purchases and to qualify for the Federal tax credit of up to $8,000. Buyers had until April 30 to get a signed sales contract and until June 30 to complete the sale, under the current terms.

Full Article...Senate approves home tax credit extension

Miami Waterfront Homes – Biggest Price Reduction June 2010

Miami waterfront homes - Miami Beach real estate


According to data from Condo Vultures Realty, out of all the luxury Miami waterfront homes for sale this exquisite piece of Miami Beach real estate saw the biggest price reduction in June. This home located at 45 Star Island Drive is one of many luxury Miami waterfront homes in South Beach and has seven bedrooms and seven and three-half-bathrooms in the main house.

Full Article....Miami Waterfront Homes – Biggest Price Reduction June 2010