Florida's Real Estate Rebound the Strongest in the Nation

Fla. real estate rebound strongest in nation

 

MCLEAN, Va. – Freddie Mac's latest Multi-Indicator Market Index (MiMi) finds that the Florida real estate market's rebound leads the nation. In a city-by-city comparison, Orlando leads the nation in both a month-to-month and year-to-year comparison, and only one non-Florida city makes the top five list for either timeframe.

Florida comparisons
Month-over-month, Florida's index score rose 2.0 percent. It was followed by Colorado (+1.99%), New Jersey (+1.83%), Connecticut (+1.80%) and Nevada (+1.48%).

Year-over-year, Florida's index grew by 14.35 percent. It was followed by Oregon (+13.45%), Nevada (12.18%), Colorado (+11.65%), and Washington (+10.18%).

Florida metro comparisons
Orlando topped all city lists from Freddie Mac. Month-to-month, Orlando improved 2.6 percent, followed by Greenville, S.C. (+2.55%), Cape Coral (+2.51%), Tampa (+2.19%) and Jacksonville (+2.12%).

Year-to-year, Orlando improved 18.27 percent, followed by Cape Coral (+17.75%), Tampa (+15.99%), Palm Bay (+14.98%) and North Port (+14.77%).

"Florida has some of the most improving housing markets in the country, largely a reflection of more borrowers becoming current on their mortgage payments as the local employment picture improves and house prices rebound," says Freddie Mac Deputy Chief Economist Len Kiefer. "Nationally, all MiMi indicators are heading in the right direction for the second consecutive month and improving more than 6 percent from the same time last year."

U.S. numbers
Nationally, Freddie Mac added one more name to its list of slowly stabilizing markets: Rhode Island. It also added four cities: Philadelphia and Harrisburg, Pennsylvania; Phoenix, Arizona; and Albany, New York.

The national MiMi value stands at 81, indicating a housing market that is on its outer range of stable housing activity. The number improved 0.93 percent month-to-month and 6.17 percent year-to-year. Since it's all-time low in October 2010, the MiMi has improved 37%.

Reprint courtesy of and © 2015 Florida Realtors®. Original post here: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=328460

Fannie Mae: ‘Things are looking up for housing’

Americans' attitudes about the housing market are strengthening, according to Fannie Mae's May 2015 National Housing Survey, a survey of about 1,000 consumers on their views about homeownership. The survey results echo recent forecasts that predict a pickup in housing activity for the year.

In the latest survey, more consumers reported an increase in household income, nearing an all-time survey high. The growth in wages falls in line with the recent positive jobs reports that show an increase in average hourly earnings. The percentage of consumers surveyed by Fannie Mae who say their household income is "significantly higher" than 12 months ago grew six percentage points to 28 percent over the past two months.

"As job growth appears to be driving meaningful income growth, the outlook for housing market growth also is improving," according to Fannie Mae's report.

The share of consumers who say it's a good time to sell a home continues to rise, also reaching an all-time survey high in May at 49 percent of respondents – six percentage points higher year-to-year. In addition, the number of consumers who would prefer to buy rather than rent on their next move rose three percentage points in May to 66 percent.

"Things are looking up for housing," says Doug Duncan, senior vice president and chief economist at Fannie Mae, noting the survey high for those who say it's a good time to sell, as well as the growing percentage of consumers who say their household income is significantly higher than last year.

"We have found that these two indicators – good time to sell and income growth – are key drivers for the performance of the housing market," Duncan says. "The increase in these indicators suggests our forecast of moderate improvement in the housing market in 2015 is on course and mirrors the near-term performance of other leading market data, including mortgage applications and pending home sales."

The survey also found:

• Consumers say they believe home prices will rise by 2.8 percent, on average, in the next 12 months.
• The number of respondents who believe mortgage rates will go up in the next 12 months dropped to 47 percent.
• Consumers say they believe rental prices will rise about 4.3 percent in the next 12 months.
• The percentage of respondents who believe it would be easy to get a home mortgage fell by 2 percentage points to 50 percent, while those who think it would be difficult remained at 46 percent.

Source: Fannie Mae
Repost courtesy of and © Copyright 2015 INFORMATION, INC. Bethesda, MD. Original post here: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=4&id=324273

Hot housing market sparks bidding wars

Buying a house these days can mean putting up a fight. A surprisingly strong housing market this spring has put more homebuyers in the middle of bidding wars in South Florida, buyers and agents say. The race for a place is especially heated for families seeking homes from $200,000 to $400,000, which are harder to come by.
"The words 'Make your highest and best offer' are like nails on a chalkboard," said Judy Trudel, a buyer's agent in Broward and Palm Beach counties.

Sean Zamora is typical of many exasperated buyers. The 32-year-old charter manager for a yacht broker was outbid on four houses in Fort Lauderdale, even though he offered near list price. He suspects that asking the sellers to pay closing costs was the deal-breaker each time.

"It was just a big pain," said Zamora, who eventually bought a two-bedroom home on the east side of town. "You just have to deal with it. What can you do?"

Andy Constant figured he had some wiggle room on a three-bedroom Parkland home listed for $419,900. He bid $380,000, only to be told of another offer at $405,000.

Convinced that bidding eventually would stretch beyond the asking price, Constant and his wife, Rachel, wanted to stand out from the other buyers. So they offered $427,500 and wrote a personal letter to the seller, saying they pictured their son playing catch in the front yard and their daughter riding her scooter in the driveway.

"That was kind of the clincher," Andy Constant, 45, said of the letter. "It gave a personal flavor to the transaction."

The bidding wars are reminiscent of 2012 and 2013, when investors started buying properties in bunches after prices hit bottom. Buyers needing mortgages lost out to cash offers, while some buyers risked losing deals if they took longer than a day to make a decision.

Heavy demand helped give the once-reeling market a boost and led to double-digit price increases in Broward and Palm Beach counties. That pace, though, couldn't continue, and the market cooled in 2014.

Now buyer urgency is back, fueled by loosening restrictions on mortgages and young families eager to find something before the next school year starts, agents say. An improving job market and low mortgage rates also are contributing to the sales binge.

Palm Beach County sales rose 18 percent in April from a year ago, and the 1,743 transactions were the most in a single month since 2004, according to the Realtors Association of the Palm Beaches. Broward had 1,465 sales, up 10 percent from a year earlier, the Greater Fort Lauderdale Realtors said.
Real estate observers had hoped that higher prices would persuade more sellers to test the market, though buyers are still complaining about a lack of quality listings.

Agents say a market balanced equally between buyers and sellers has a six-month supply of homes, meaning it would take that long to sell all of the existing properties if no more were listed. At the end of April, Broward had a 4.8-month supply, while Palm Beach County was at five months, according to the local Realtor boards.

While the two counties are starting to see more lower-priced homes for sale, most aren't in move-in condition, agents say.

"It seems like all the good stuff on the market is gone, and now we're dealing with the listings that don't meet buyers' criteria," said Beverly Rothstein, an agent for Berkshire Hathaway Home Sales. "It could need a new roof or an updated kitchen, or it could be any one of 50 things."

Donna and Jim Stetson started looking for homes in northwest Broward shortly after the first of the year, taking a conservative, if not leisurely, approach.

After losing four houses to more aggressive buyers, the Stetsons zeroed in on a four-bedroom home with a pool and a lake view in the Westchester neighborhood of Coral Springs. The couple was determined not to lose another home and beat out at least one other buyer in offering $5,000 above the $349,900 list price.

"I hate bidding wars," said Donna Stetson, 58, a customer service representative for a software provider. "It's anxious and uncertain and just feels wrong. You give them a full-price offer and you still have to 'win' the house.

"It's not like the old days when you make an offer and get a counter. You know what you're dealing with. In a bidding war, you don't know what you're dealing with."

Keyes Co. agent Beth Patterson said one of her clients is struggling to find a home in her preferred neighborhood, Lauderdale Isles in southwest Broward.

Patterson said the client receives text alerts whenever one of the homes comes on the market. They rush over to look at it as soon as the property is available. In each case, the client lost out to a higher offer or the home already was under contract.

In this environment, agents say, buyers shouldn't get cute. If the home is in good condition and priced close to market value, it probably will attract multiple offers. A strong initial bid and few contingencies are the best bets for striking a deal.

Agents and analysts expect the sales pace to slow this summer, easing the burden on buyers. Until then, they'll have to strike a balance between staying vigilant and making a poor financial decision, Patterson said.

"Right now their mindset makes them a little desperate," she said, "and more willing to pay more than they probably should."

Repost courtesy and Copyright © 2015 the Sun Sentinel (Fort Lauderdale, Fla.), Paul Owers. Distributed by Tribune Content Agency, LLC.  Original post here: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=4&id=323905

Downtown Miami condo supply can weather looming bear market, experts say

Market expected to winnow out some projects that have yet to break ground - See more at: http://therealdeal.com/miami/blog/2015/05/07/condo-supply-can-weather-looming-bear-market-experts-say/?utm_source=rss&utm_medium=rss&utm_campaign=condo-supply-can-weather-looming-bear-market-experts-say#sthash.QiifQYa1.dpuf

Market expected to winnow out some projects that have yet to break ground - See more at: http://therealdeal.com/miami/blog/2015/05/07/condo-supply-can-weather-looming-bear-market-experts-say/?utm_source=rss&utm_medium=rss&utm_campaign=condo-supply-can-weather-looming-bear-market-experts-say#sthash.QiifQYa1.dpuf

Market expected to winnow out some projects that have yet to break ground

Two months after Miami’s Downtown Development Authority released a report signaling a slowdown in the downtown condo market, its author told The Real Deal that there’s enough buyer demand to keep up with the current inventory of units until the latter part of 2016.

The report notes that 22,200 units are in the pipeline — the equivalent of an 11-year supply under the estimated 2,000 new condo units the Miami market can absorb annually, as reported by TRD columnist Peter Zalewski. Almost half of the 22,000 units are currently under construction or in the preconstruction planning and permitting phase, according to the report.

“With the buildings coming out of the ground now, there is more than adequate demand to finalize and sell those out,” said Anthony M. Graziano, a senior managing director for Integra Realty Services Miami, which produced the report for the DDA. “I don’t project any vacant buildings that are going to be distressed,” he added.

The report, he said, included projects that have been announced, but have yet to enter the sales or planning stages. “A lot of projects don’t get off the ground,” he told TRD. “Some have been in the pipeline for decades or more.”

In the DDA report, Graziano laid out how presale absorption of units has cooled in the first quarter of 2015 as a result of the diminishing buying power of South American and European investors, who make up 85 percent  of the current buyers pool.  At the same time, domestic buyers from New York, Boston, Chicago and other cities who account for the remaining 15 percent, are reluctant to fork over 50 percent deposits on preconstruction condos.

Yet, the same report predicts the slowdown will have a minimally negative impact on the Greater Downtown Miami condo market, Graziano said. Instead, the market conditions will winnow out some projects that are on the drawing board, but have yet to break ground.

“IRR Miami’s research suggests that we are in the middle/stabilization stage of the residential downtown development market cycle,” the report states. “Our review of the prior cycle absorption, pricing, and core demand indicates that the projects that have reached the construction phase will most likely be completed. Projects that are in the early to middle stages of the sales process are most at risk as construction costs continue to increase at the same time the buyer pool is showing signs of slowing.”

Graziano said the current cycle has reached the point where supply is meeting normalized demand. As a result, fewer new projects will launch this year as developers wait for presale pricing and construction costs to level out, he said.

For instance, in April, a representative of developer of IonEast Edgewater told TRD  the development group had scrapped plans for the 36-story condo tower at 2701 Biscayne Boulevard after a legal dispute involving a parcel assembled for the project delayed pre-construction sales. The developer, Sakor Development, said it is considering reconfiguring the site for a mixed-used development.

Another builder, Property Markets Group, has decided not to launch its project at the former Empire World Towers site at 300 Biscayne Boulevard until the first quarter of 2016, said Craig Studnicky, whose firm, International Sales Group, heads preconstruction sales for PMG’s South Florida developments.

“You are seeing consistency out of the big players postponing until the end of this year or early next year,” Studnicky told TRD. “You are not seeing a lot of new supply coming into the existing supply chain.”

Studnicky acknowledged that the strength of the U.S. dollar versus the weakening of several foreign currencies that fuel the South Florida real estate market has dampened buying conditions. “There are some projects that have been or will be delayed to foreign demand curtailing,” he said. “But there is still plenty of demand from Brazil, Venezuela, and Argentina to maintain the next 18 to 24 months of supply.”

Studnicky also said that resales of existing condos could negatively impact the market. “Investors have not shown any desire to sell in big numbers,” he said. “If you are from Argentina or Venezuela, you are better off placing your money in a hard asset that appreciates in value. If you resell the unit, what are you going to do? Put the money in the bank for a 1 percent return or take it back to your country where your money is devalued? The indicators show that is not likely to happen.”

Yet there is some evidence that more investors are entering the re-sale market. Graziano said IRR reviewed units sold at completed buildings such as BrickellHouse and 1100 Millicento Residences to find out how many owners are looking to cash in.

“About 50 to 60 percent are coming back on the market after closing,” Graziano said. “Half of those for rent and the other half are for sale or for rent.”

Repost courtesy of The Real Deal and Author Francisco Alvarado

Francisco Alvarado

Francisco Alvarado

Francisco Alvarado

Original post here: http://therealdeal.com/miami/blog/2015/05/07/condo-supply-can-weather-looming-bear-market-experts-say/?utm_source=rss&utm_medium=rss&utm_campaign=condo-supply-can-weather-looming-bear-market-experts-say

Home Sales Up, Prices Down in South Florida

Realtors: August home sales up, prices down in South Florida
Reprinted from The Miami Herald
BY Matthew Haggmann

South Florida home sales jumped in August amid signs that lower prices are drawing buyers back into the region's long-struggling housing market.

Sales of existing single-family homes in Miami-Dade County increased 22 percent and Broward County sales increased 12 percent compared to the same period a year ago, according to numbers released Wednesday by the Florida Association of Realtors.

Condominium sales were up 13 percent in Miami-Dade, while condo activity in Broward for the month was even compared to August 2007.

A big reason for increased sales appears to be healthy price drops. Prices were at least 20 percent lower in August than a year ago for single-family homes and condos in both Miami-Dade and Broward counties.

The median price for a Miami-Dade single-family home was $276,000 in August, amounting to a 30 percent drop from last year. For Broward single-family homes, the median price was $269,800, down 27 percent.

The median condo price in Miami-Dade was $210,400; it was $133,300 in Broward.

The outsized inventory of residences for sale also declined in August. Market watchers say the number of homes on the market must shrink significantly -- creating a better balance between buyers and sellers -- before prices start rising again.

The South Florida results were in contrast to the rest of the country.

Nationally, sales of existing U.S. homes fell by 2.2 percent in August, though the number of unsold homes on the market also dropped sharply from the previous month's record high.

The National Association of Realtors said sales fell to a seasonally adjusted annual rate of 4.91 million units, from an upwardly revised pace of 5.02 million in July. Sales had been expected to fall by 1.6 percent, according to economists surveyed by Thomson/IFR.

The median price of an existing home dropped to $203,100 from $224,400 a year ago. For single-family houses, the median price dropped 9.7 percent, the biggest decline since records began in 1968.

Resales account for about 90 percent of the market, while purchases of new homes make up the rest. Sales of existing homes are compiled from contract closings and may reflect contracts signed one or two months earlier.

There were 4.2 million unsold homes on the market, a 7 percent drop from the record set in July. It was the steepest drop in inventory since December 2006.

Reprinted from the Miami Herald: http://www.miamiherald.com/business/real-estate/story/699288.html

Florida Condo Prices Hit Bottom?

Real Estate Vultures Think Florida Condo Prices Have Hit Bottom
Reprinted from Florida Association of Realtors

MIAMI – Sept. 4, 2008 – Trying to time the real estate market and planning to buy once it hits bottom? Get your checkbook.

Condo Vultures LLC owner Peter Zalewski believes the recent purchase of 120 condominiums in Miami’s 50 Biscayne Blvd. tower, by the Philadelphia-based private equity firm Lubert-Adler Partners LP and Related Group of Florida, will usher in a wave of investors looking to snap up distressed properties in the region.

Jack McCabe of McCabe Research & Consulting LLC believes these vulture buyers are an indication that the housing market has bottomed out, and he believes ongoing foreclosure sales could extend the bottom for a few years. He says that vulture investors plan to spend $30 billion or more on distressed housing in the Sunshine State.

However, Lewis Goodkin of Goodkin Consulting Group says prices need to be reduced to about 50 cents on the dollar to attract investors.

Downtown Miami will see the opening of 11,551 condos this year, which is a five-year supply, according to MetroStudy regional director Brad Hunter.

Source: Bloomberg (09/04/08) Ivry, Bob
© Copyright 2008 INFORMATION, INC. Bethesda, MD (301) 215-4688

Ready to Buy? Click Here

What's REALLY Happening in Florida - Winter 2008 Newsletter

**Greetings from Branon Edwards and Jelena Panfilova
from Aqualand Realty in sunny South Florida!

Welcome to another edition of InvestFloridaRealty.com's Florida real estate newsletter. There have been a lot of changes to the real estate landscape including the increase of foreclosures and sale inventory, new homestead exemption and portability for property tax reductions, as well as phenomenal opportunities for buyers and investors. We hope to dispel some of the misinformation being touted by the media while also giving you some solid information you can use.

In this issue:
-Homestead Portability Thanks to Amendment 1 (Action Required)
-Time to Refinance?
-Featured Property: Porpoise Point Fishing Resort
-Our Real Estate Listings (Homes, Condos, Land, Vacation Rentals)
-What's REALLY Happening in Florida's Real Estate Market?
-Buyers' Market Highlights including Currency Exchange

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Homestead Portability Thanks to Amendment 1 (Action Required)

What you should do to receive benefits of Amendment 1
To receive some of the benefits of the changes enacted January 29th, certain citizens must take action by March 1, 2008. The Constitutional amendment created four new opportunities for taxpayers to obtain tax relief:

1. Increased homestead exemption
2. Portability of "Save our Homes" benefit
3. $25,000 exemption for tangible personal property
4. 10% annual assessment limitation for non-homestead property

What taxpayers must do to receive these new benefits:

1. Increased homestead exemption - Homeowners that are currently receiving the homestead exemption will automatically receive the increased homestead exemption. No action is necessary.

2. Portability of "Save our Homes" benefits - If you received the homestead exemption in 2007 on a home that you sold or otherwise abandoned during 2007 and have purchased a new home by January 1, 2008, you are eligible to take some or all of the benefit of "Save our Homes" to your new home. In order to receive this benefit, you must apply by March 1, 2008 to your property appraiser for your new homestead exemption and for the transfer of the "Save Our Homes" benefit to your new homestead for 2008.

3. $25,000 exemption for tangible personal property - Tangible personal property taxes apply only to certain taxpayers in Florida - typically businesses and certain owners of mobile homes. The tax does not apply to homesteaded property. In order to receive the $25,000 exemption for tangible personal property, taxpayers subject to the tax must file a tangible personal property return with their property appraiser by April 1, 2008.

4. 10% limit on annual assessment increases for non-homestead property - The 10% limitation does not apply until next year. No application is necessary for 2008.

If you have any questions about what action you must take to receive these new benefits, please contact your local property appraiser. For information on how to contact Florida's property appraisers, go to http://dor.myflorida.com/dor/property/appraisers.html

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TIME TO REFINANCE?

If you're like most Americans who purchased a property between 2004-2006, chances are that you have an adjustable rate mortgage (ARM). It's also very likely that this mortgage is about to convert from the original 'teaser' low interest rate to a much higher interest rate that will push up your monthly mortgage payment substantially.

If your current interest rate is higher than 8%, then you will likely benefit enough from refinancing your mortgage to make it worthwhile. Even if you interest rate is 7%, you could benefit from a refinance if you plan to keep the property longer than 5 years.

With recent cuts in the interest rate by the Federal Reserve (and more on the way), interest rates are very attractive presently. However, your actual interest rate will vary based on your credit score, the type of property (primary residence, second home, investment, etc), how you plan to prove your financial situation (full documentation, bank statements, stated, etc), and the purpose of the loan (cash-out or just rate change).

If you would like a complimentary mortgage consultation, please call Branon at 786-417-4910 or send an email to Branon@InvestFloridaRealty.com

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FEATURED PROPERTY: Porpoise Point Fishing Resort

Aqualand Realty is happy to present to our customers a new bay front townhome development on the island community of Matlacha. Matlacha (Mat-Luh-Shay) is a quaint fishing village located between Cape Coral and Pine Island on the West Coast of Florida. On a broader geographic scale, it is located between the larger cities of Fort Myers and Sarasota. It is within a 30-minute drive of Southwest Florida International Airport in Fort Myers (Airport Code RSW).

The best way to describe Matlacha is that it looks like the Florida Keys 25 years ago. There are no high-rises and the historical society and local building regulations will keep it that way. In fact, there is a height restriction in place that limits buildings to no more than 3 stories.

Porpoise Point Fishing Resort is a new 20-unit townhome community that is located right on a wide expanse of Bay on the South side of the island. We can tell you from personal experience that the name is justly earned. We have yet to spend any time at the community without seeing the local pod of dolphins swimming by during the day. There are also families of Osprey and a Bald Eagle, not to mention a plethora of tropical birds and wildlife. Matlacha and Pine Island are perhaps one of the few unspoiled islands left in Florida that you can actually reach without a boat. Of course, the fishing in the area is phenomenal and it’s home to the World’s Richest Tarpon Tournament – the entry fee for the tourney is a mere $100,000!

This exclusive community will offer owners a 2,000-square foot private residence with 3 balconies, 3-bedrooms, and 3-and-a-half baths. In addition, the third bedroom can be converted to a guest suite with nightly renting potential. The community's zoning permits the main part of the residence to be rented with a 5-night minimum. There will also be deeded boat docks available including approximately six shoal-draft slips that should accommodate up to 26-foot boats, and deep water slips that should accommodate larger vessels with approximately a 5-foot draft at mean low tide. These slips should be large enough for a +40-foot sailboat with direct access (no bridges) to the Gulf of Mexico.

Click Here for More Information About or to Schedule a Private Tour of Porpoise Point:
http://www.InvestFloridaRealty.com/listings/porpoise-point.htm

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OUR REAL ESTATE LISTINGS (Homes, Condos, Land)

1,129 Acres
Evans Road, Labelle, FL
90-1,129 Acres of Mostly Cleared Land
Currently Zoned AG and Operated as Farm and Pasture
Could be Single Family Homesites, Dirt Mine, or Farm for BioDiesel/Ethanol
Priced from $20,000 Per Acre
http://www.InvestFloridaRealty.com/listings/792-labelle.htm

Galt Island Estate
4981 Galt Island Ave
Saint James City, FL
3-Bedrooms / 3-Baths / Boat Dock with Lift
3-Story on Private Island
Originally $2.5 Million
Reduced to Just $2.2 Million
http://www.InvestFloridaRealty.com/listings/galt-island-home.htm

Waterfront Castle with Gulf Access!
3651 Turtledove Blvd
Punta Gorda, FL 33950
Brand New Construction
3-Bedrooms/3.5-Baths/Boat Dock with Lift
Gulf Access for Sailboats
Originally $2 Million
Blow Out Priced at $1,499,900!
http://www.InvestFloridaRealty.com/listings/pgi.htm

Porpoise Point Fishing Resort
Matlacha, FL (Pine Island)
3-Bedroom/3.5-Bath/3-Balcony/3-Story Bayfront Townhomes
Preconstruction Prices from $875,500
Private Boat Docks Available
CHECK OUT THE VIRTUAL TOUR ONLINE
http://www.InvestFloridaRealty.com/listings/porpoise-point.htm

Trump Towers One
Brand New Beachfront Construction
2-Bedrooms/3-Baths + Den
Direct Ocean Views
3 Units to Choose From
Purchase Preconstruction Contract for 50% of Deposit!
Prices from the $800,000s to High $900,000s

Ocean Four
17201 Collins Ave, Unit 1506
Sunny Isles Beach, FL
2-Bedrooms / 2-Baths / 2-Balconies
Beachfront Building. Unit has direct West views
of Intracoastal, City, and Fabulous Sunsets.
Over $750,000 Invested
Blow Out Priced at Just $635,000!!
Rented Short-Term @ $2200/month until May 2008
http://www.InvestFloridaRealty.com/listings/ocean-4.htm

Marina Walk on Pine Island
Saint James City, FL 33956
Gated Waterfront Community with Boat Docks
Homes from the high $400,000s
http://www.InvestFloridaRealty.com/listings/marina-walk.htm

Cape Coral Gulf Access Home – Reduced $190,000!
2540 SW 36th Lane
Cape Coral, FL
3-Bedrooms / 2-Baths / 2-Car Garage
U-shaped Captain's Dock with 7,000-lb Lift
Originally $650,000
Priced for Immediate Sale at $459,900!
http://www.InvestFloridaRealty.com/listings/gulf-access.htm

Saint James City Gulf Access Building Lot
2395 Sycamore Street
Saint James City, FL
New Sea Wall plus Dock Permit
Originally $500,000
Reduced to $475,000
Reduced Again to $460,000
Blow Out Priced at $375,000!
http://www.InvestFloridaRealty.com/listings/sycamore.htm

Axis at Brickell Village
Brand New Construction in Downtown Miami
Close to EVERYTHING, Great Amenities!
Contract Now, Close with Developer in February
Unit #3404-S - 2/2 Bay View @ $459,900
http://www.InvestFloridaRealty.com/listings/axis.html
Unit #1412-S - 2/2 City View @ $400,000
http://www.InvestFloridaRealty.com/listings/axis.htm

Hollywood Hills
3701 Washington Street
Hollywood, FL 33021
3-Bedroom / 2-Bath / 2-Car/Fenced Yard
Fenced Yard, lots of upgrades
Tenant at $2,100/month until July 2008
Originally $384,000 (below Appraisal)
Priced to Sell at Just $373,900
http://www.InvestFloridaRealty.com/listings/3701-washington.htm

Saint James City Acreage
4094 Sunshine Blvd
Saint James City, FL 33956
5 Acres Building Lot on Paved Road
Road frontage on 3 sides
Could Possibly be Subdivided
Should be $400,000
Asking Just $316,000 ($63,500 per acre!)
http://www.InvestFloridaRealty.com/listings/sunshine-blvd.htm

Latitude on the River
185 SW 7th St, #1708
Brand New Construction in Downtown Miami
1-bedroom/1-bath with Bay Views
Was $269,900
Blow-Out Priced at $259,900! - UNDER CONTRACT
http://www.InvestFloridaRealty.com/listings/latitude.htm

BUSINESS FOR SALE
Cash Cow High-End Flower Shop in Downtown Fort Lauderdale
High Profits, Low Overhead, Over $100,000 in Inventory Included
Unbelievable Price of $249,900
http://www.InvestFloridaRealty.com/listings/flower-shop.htm

401 Blu
401 69th Street, #311
Miami Beach, FL 33141
1-Bedroom / 1-Bath
Newly renovated building
Tenant at $1300/month until June 2008
Originally $275,000
Priced for Quick Sale at $239,900
http://www.InvestFloridaRealty.com/listings/401-blu.htm

Meadowbrook Towers
610 NE 12th St
Hallandale Beach, FL 33009
1-Bedroom/1-Bath Condo in 55+ Community
Overlooking Pool and Clubhouse, Recent Upgrades
Was $138,900
Now Just $129,900!
http://www.InvestFloridaRealty.com/listings/meadowbrook-towers.htm

Little Palm Village
Saint James City, FL 33956
Single Family Home Building Lots
Buy Now, Build Later
Priced from the high $40,000s
Various Olde Florida Home Plans Available
http://www.InvestFloridaRealty.com/listings/little-palm-village.htm

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VACATION RENTALS – TurnKey Furnished with Ocean Views:

2080 Ocean Drive, Hallandale Beach

2-Bed/2-Bath Penthouse-09 from $3250/month
http://www.InvestFloridaRealty.com/rental/hallandale-beach.htm

2-Bed/2.5-Bath Corner Penthouse-01 from $3750/month
http://www.InvestFloridaRealty.com/rental/2080-ocean-dr.htm

2-Bed/2-Bath Lower Penthouse-10 from $3250/month
http://www.InvestFloridaRealty.com/rental/2080-ocean-drive.htm

Hollywood Beach Resort - #438
Large Oceanfront Studio with 2 Queen Beds from $1600/month ($999/week)
http://www.InvestFloridaRealty.com/rental/hollywood-beach.htm

Alexander Towers - #806
2-Bed/2-Bath Oceanfront, 3 Queen Beds + 1 Twin Bed
http://www.InvestFloridaRealty.com/rental/alexander-towers.htm
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What's REALLY Happening in Florida's Real Estate Market?

We know the media has basically been saying that the sky is falling for over a year now. In fact, if you listen to everything on the news or believe everything you read in the papers, you're likely standing on the edge of a tall building at the moment. However, you'll probably be surprised to know that things really aren't as horrible as they would like you to think. Step away from the ledge now please.

According to the media, housing values have dropped by 50% in some places - this is, of course, an exaggeration, but what's new? As an example, the Miami market hadn't depreciated at all until just this last quarter. And even then, it was an annualized depreciation of just 3.1%. That's a far cry from thinking your house had been devalued by 50%. In fact, over the last 12 months, homes in Miami-Dade County have actually APPRECIATED by 3.4% overall.

We subscribe to a very high-end real estate software system that tracks almost 400 large municipal markets throughout the USA. This system tracks the ACTUAL property appreciation for single family homes in these areas by sales, not by median home price. Median Home Price is the most commonly used gauge of how markets are performing, but if you know what the 'median' really means, you know it's not a good gauge at all. The system we use tracks individual homes in a given market over a 30-year period. By doing so, it can calculate what each home has sold for over time and thereby calculate the true appreciation rate.

By the way, if you would like more information on subscribing to this service, click here:
http://www.InvestFloridaRealty.com/RealEstateToolKit

Here's the actual overview of several markets here in Florida:

Miami & Miami-Dade County
Last Quarter Annualized -3.1%
2 Quarters Ago Annualized +1.8%
Last 12 Months +3.4%
3 Years Ago +21.9%
5 Years Ago +14.9%
10 Years Ago +2.0%

Fort Lauderdale & Broward County
Last Quarter Annualized -13.7%
2 Quarters Ago Annualized -4.2%
Last 12 Months -4.7%
3 Years Ago +24.1%
5 Years Ago +14.1%
10 Years Ago +1.7%

West Palm Beach & Palm Beach County
Last Quarter Annualized -11.1%
2 Quarters Ago Annualized -9.8%
Last 12 Months -6.9%
3 Years Ago +26.1%
5 Years Ago +13.7%
10 Years Ago +2.3%

Fort Myers, Cape Coral & Lee County
Last Quarter Annualized -16.6%
2 Quarters Ago Annualized -9.2%
Last 12 Months -9.7%
3 Years Ago +19.6%
5 Years Ago +13.5%
10 Years Ago +1.6%

Please keep in mind that these are the appreciation rates for single family homes - not for condominiums. Given the overbuilding of condos in recent years in Southeast Florida, the condo market is substantially different than the market for houses. Condos tend to be even more localized markets with individual buildings acting as neighborhoods and fluctuating based on the individual investor mix in that particular building. Our condo market is wide open presently with units that originally sold in preconstruction for $600 per square foot being offered for $400 per square foot, etc. If you don't plan to sell in the next year or two, condos can be an excellent addition to your portfolio right now - particularly in buildings that allow seasonal rentals.

If you would like more information on subscribing to the market tracking service, click here: http://www.InvestFloridaRealty.com/RealEstateToolKit

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BUYERS’ MARKET HIGHLIGHTS including Currency Exchange

What is a Buyers' Market? Simply put it is a real estate market when the market conditions favor the buyer more so than the seller. Typically it means that there are more properties listed for sale than there are buyers to purchase them. In this specific market, it also means that in addition to the large amount of available inventory, sellers are also experiencing increased motivation to sell.

Florida experienced a huge increase in property values during the heat of the market in 2003-2005. This wave of appreciation attracted vast numbers of inexperienced investors into the market. Many of these investors are now sitting on properties that are vacant with mortgages that are inching upward as their rates adjust. Lots of these folks are now offering their properties at a substantial loss from what they paid for them just a few years ago. Foreclosures are looming across the United States, which again adds to the seller motivation.

From an investor's perspective, a Buyer's Market is exactly that - a great time to BUY. It's not a great time to sell, especially if you're artificially motivated, but the opportunities in the Florida market are exceptional. However, in any market, people are always buying and selling because of changes in their housing needs.

If we factor in the weak US Dollar, Florida real estate is an unbelievable bargain for foreigners or those buying with non-US currencies like the Canadian Dollar, the Euro, and the British Pound. These buyers have the benefit of additional incentives because of the attractive currency exchange rates.

At this writing, the exchange rates for these currencies are:
1 Euro = $1.48
1 British Pound = $1.97
1 Canadian Dollar = $1.01

Historically, the Canadian Dollar traded in recent years for about 60-cents in US Dollars. With this in mind, it means that Canadian buyers are now buying US real estate at about a 40% Discount! Many of these buyers are paying cash now with the anticipation of the market eventually normalizing. Once the exchange rate 'goes back to normal', these buyers will refinance their properties and take cash out. They can then convert the resulting US Dollars to Canadian Dollars and reap a nice profit once again from the exchange rate - leaving them with very little actually invested in the property.

In short, if you're considering investing in Florida, now is a great time to do so. Even if we haven't technically reached a 'bottom' of the market, many sellers are sufficiently motivated that negotiating the few points between the present market and 'the bottom' that you can often get an even better deal. Granted, highly sought after properties are still selling well and prices are holding steadily in established areas without high investor concentrations. As always, location is still the dominating factor in determining value in the real estate market.

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We hope you found this information useful. Of course, if you have any questions about the market in general or your specific situation, please feel free to give us a call at any time.

As always, thank you for the opportunity to earn your business. We also appreciate your trust and welcome the opportunity to assist your family and friends with their Florida real estate needs as well.

All the best,

--Branon A. Edwards, Licensed Florida Real Estate and Mortgage Broker
--Jelena Panfilova, Licensed Florida Real Estate Broker-Associate

Branon Direct: 786-417-4910
mailto:Branon@InvestFloridaRealty.com

Jelena Direct: 786-417-4911
mailto:Jelena@InvestFloridaRealty.com

Our Private Fax: 786-524-5747

VISIT OUR WEBSITE:
http://www.InvestFloridaRealty.com

VISIT OUR BLOG:
http://www.InvestFloridaRealty.BlogSpot.com

---- Office Information ----

Real Estate Office:
Aqualand Realty, Inc
8359 Stringfellow Road
Saint James City, FL 33956

Mortgage Office:
Mainland Mortgage Corp
2803 E Commercial Blvd, Suite 210
Fort Lauderdale, FL 33308

Apply Online: http://www.mainlandmortgage.com/apply-fora-loan.shtml

Thank you for the opportunity to
EARN your business.

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