Miami Real Estate, Miami Real Estate news

Miami homes for sale, prices stabilize

According to housing data released Monday by Florida Realtors, in December, existing sales for Miami homes for sale jumped 45% in Miami-Dade and 24% in Broward in December, compared to the same month of 2008. Median prices for Miami homes fell just 5% and 2% in Broward in the year-to-year comparison.

Realtors say more buyers are perusing Miami real estate properties, and some believe prices have stabilized. In some areas like The Roads, Coral Gables, Plantation, Coral Springs and Weston, Realtors say prices of Miami homes are rising.

Single-family Miami real estate sales in December rose 37% in Miami-Dade and 10% in Broward, compared to November.

Full Article....Miami Real Estate, Miami Real Estate news

Miami Homes, Miami real estate

Slightly fewer Miami Homes 'underwater'

Almost half of all owners of single-family Miami homes and homes in the Fort Lauderdale metropolitan area were valued for less than the mortgages owed against them.

At the end of September, 46% of homeowners, representing 387,157 Miami homes, were underwater, compared to 47% in the second quarter, according to a new report from a Web-based Miami real estate service, Zillow.

Nationally, 21% of homeowners were underwater as of September 30, down from 23% in the second quarter, as home values stabilized in the short term and more underwater borrowers lost their homes to foreclosure, Zillow said.

Full Article...Miami Homes, Miami real estate

South Beach Hotels, South Beach Real Estate

Lenders fighting over fate of troubled South Beach hotel

A court has taken over the Royal Palm a South Beach hotel, believed to be worth far less than its debt, an owner said Friday.

Minority owner and developer R. Donahue Peebles walked away from the 417 room South Beach hotel, which he built on city owned land in the late 1990s. Caught up in the crumple of the condominium market and the exploits of fallen condo-hotel king Robert Falor, the Royal Palm spent the decade as South Beach's longest-running hotel drama.

Now with Peebles gone the hotel's two lenders, Wachovia and BlackRock are fighting over the Royal Palm's fate.

Full Article...South Beach Hotels, South Beach Real Estate

Florida property Values, Miami Real Estate

Florida Property Values, Appeals are Rising

The deadline to file property assessment appeals is only two days away and local tax appeal firms say they are overwhelmed by the surge of South Florida and Miami real estate property owners hoping to lower their taxes.

Larry Puyanic with Tax Savers of Miami says they are swamped and don't have enough people to man the phones.

Owners of South Florida and Miami real estate properties have until Friday to file an appeal and pay the $15 filing fee to challenge their tax assessments.

About 10,400 South Florida real estate property owners had filed appeals in Broward, as of Tuesday.

Full Article...Florida property Values, Miami Real Estate