South Florida home sales and prices on the RISE!!!

It is truly a pleasure when we can quote a newspaper on positive news on the South Florida Real Estate market. Such is today’s story in The Miami Herald.

Entitled : South Florida home sales – and prices – rise .. Home sales and prices increased in April compared to the year before – a possible sign of stability in a long-shaky real estate market.

You can read the full article here: MIAMI HERALD - HOME SALES UP

Here are the key points:

1) Median sale price of existing homes in Miami-Dade County (up 8%) and Broward county (up 7%) increased compared with last April (2009).

2) The number of Home sales also crept up – Miami Dade County up 7% and Broward County up 11%. This was mainly fueled by bargains on troubled properties, low mortgage rates and a deadline for thousands of dollars in tax credits.

3) Condo Sales also had huge numbers over last year. In Miami Dade County 723 units were sold which represents a 33% increase over the same period last year. In Broward County number of condos sold topped at 1,077 – an increase of 30% over April 2009.

Let’s hope this trend continues and we see successful increases in number of properties sold as well as increases in prices.

If you are interested in purchasing property from South Beach to Bal Harbour, Sunny Isles Beach, Aventura, Hallandale or Hollywood please contact The Golan Team at 786-271-1235 or drop us an email to info@golanteam.com

Trump Towers, Sunny Isles Beach, Florida, 33160 – Sales Exceed $100,000,000

The most frequently asked question we at The Golan Team (786-271-1235) as well as we can guestimate most practicing Realtors are asked is, "Are things Selling?"

The answer is most astoundingly YES!!!

But YES - only at the right price.

Take in point TRUMP TOWERS, Sunny Isles Beach - this luxurious 3 building Oceanfront complex on the Southern end of Sunny Isles Beach almost stalled in sales a year and a half to two years ago when the Developers and their Sales Team were asking around $700+/ft. Those Buyers that had bought Pre-Construction were either walking away from their deposits or renegotiating their purchase prices in order to close. At the same time you had the Banks/Lenders breathing down the necks of the Developers to for repayment on their loans. The Developers started courting the Bulk Buyers. All in all only 157 units had sold out of a possible 813 units had sold. The Buyers started looking for better deals. Inventory was at an all time high. Fast forward 18 months to now, and the situation is clearly different.

The Dezers (Developer Michael Dezer and his son Gil) recently assumed a $265 million loan from a Development Partnership that included the Related Group with Wells Fargo serving as agent for a syndicate of 11 participating financial institutions. The project's three towers (each consisting of 271 units) have a combined 475 units left to sell. The have been 181 sold this year in price ranging from $550,000 - $1.9 million. The average price/ft is now at $414/ft with some units selling as low as $350/ft and others that have been decorated closing near $600/ft. This significant lowering of the price/ft have allowed the Dezers to surpass the $100 million mark in sales to date.

"We are confident our adjusted pricing is what has driven beyond expected results," says Gil Dezer president of Dezer Properties in an interview to Businessweek. "The ability to purchase a unit in a building as prestigious as Trump Towers for $350- $650/ft has generated unprecented response from a broad range of local, national and international Buyers."

He continues, "We have always felt that prime oceanfront property would be a signal of the strength of the recovery, as these types of units are so much of South Florida's appeal...""... and while the residential real estate market clearly has a ways to go to reach full recovery, these initial results have been very encouraging about the state of our industry, at least in Sunny Isles Beach."

At these prices, both end users, 2nd home vacation purchasers and investors are able to rejoin the marketplace and purchase oceanfront property.

If you would like us to send you floorplans of Trump Towers - send us your details to info@golanteam.com SUBJECT - Trump Tower Floorplans.

If you would like to schedule an appointment to view the property in person call us at 786-271-1235.

South East Florida free foreclosure property list - Fisher Island Tops Weekly Foreclosure List

South East Florida free foreclosure property list

The Golan Team (786-333-6200) synonymous with the sales of Luxury Waterfront Condos recently launched a dedicated foreclosure site at www.southfloridaluxuryforeclosures.com. This site instantly proved as a huge success as many people signed up to receive a free weekly foreclosure list of all luxury properties in Dade and Broward county that are now owned by the Bank or Lender.

Many people think that Foreclosures only exist in the lower end market but this is as far from the truth as it can be. This downturn in the market has hit everyone. Look what tops this week’s Foreclosure list.

Fisher Island 4 Bed Foreclosure (Fisher Island Foreclosure)

This 4000+ sf 4 bed 4.5 bath condo is located on what is deemed as one of the most exclusive addresses in South Florida if not the country. Fisher Island is a private island that is not even accessible by car!!! Residents must take a ferry to and from their residences to the mainland (South Beach/Miami Beach). To live here is not for the faint hearted. Besides the enormous monthly charges (here it is $5,409/quarter) there is a mandatory joining of the Golf and Country Club (try a $250,000 fee) , Property taxes in excess of $56,000 annually as well as other incidentals such as electricity, phone etc. Though this may seem a very steep carrying cost for some, this unit is a relative “Super Bargain” for Fisher Island. Just recently the same unit was asking $3.2m and back in 2008 it featured a price tag over $4m!!!!

This week there were 24 luxury condos that came on the market as Foreclosures and there were 10 new Foreclosed homes that hit the market .

Here are the condos

New Condo Foreclosures Week of May 17

Here are the homes

New Home Foreclosures Week of May 17

If you would like to subscribe to our free weekly Foreclosure list please click here and submit your information

http://www.southfloridaluxuryforeclosures.com/

For general questions please email us to info@golanteam.com