New law could cause an influx of Bulk Buyers to Miami

This week, Florida Governor Charlie Christ signed a new law into effect that significantly changes current Florida condominium statutes and may give Bulk Buyers a leg up.

First things first: What qualifies an Investor as a Bulk Buyer?

Answer - Believe it or not, according to Regulators a Bulk Buyer is any investor who owns or leases out seven units or more.

Prior to the passing of this new law, the Distressed Condominium Relief Act, deemed Bulk Buyers with the same responsibilities of Developers such as construction warranties as well as other responsibilities in association control. This new provision which will go into effect July 1, 2010 has a limited two year time window but removes the responsibilities of the Developer on the Bulk Buyer.

"Condominum law defines a developer as anyone who creates a condo, but also creates or offers units for sale or lease in the ordinary course of business," says Mark Grant, a partner at Ruden McClosky law firm in Fort Lauderdale. He helped draft the Bulk Buyer provision. "With the new law, it is very clear that a bulk buyer does not fit into the definition of a developer --- they're exempt."

The Golan Team who have been involved with and following closely Bulk Sale purchases in Miami feel this is added bonus to Bulk Buyers who have been deliberating when to enter the market. "We have spoken with Buyers who were interested in making big purchases but were very worried about the potential liabilites or future liabilities that would fall on their shoulders if they were to burden the responsibility of the Developer" says Debra Golan, Managing Partner of The Golan Team, Keller Williams Realty. She continues, "Our Buyers were willing to pay for the units and manage the responsibility of holding, leasing and reselling of those units but did not want to be part of the running of the building or association." Another benefit to the new law is that Bulk Buyers no longer have to budget for possible litigation.

Two other major provisions of the new law include:

a) A provision that doubles the amount of condo assesments that Lenders will have to pay when they take title to in foreclosure, from six months to 12 months. Payments to condo associations have been one reason that some Banks have been relunctant to foreclose on condo units.

b) A provision that now Condo associations can suspend uses of common area facilities when owners fail to pay their assessments.

First Time Homebuyer Credit - The Golan Team (786-271-1235) shows you how to take advantage of it

This week The Golan Team (786-271-1235) worked with two First Time Homebuyers. They had a lot of questions regarding the first time homebuyer credit that is due to expire on April 30, 2010.

We thought if Buyers we are working with have these questions so to must a lot of Buyers out there.

Here is a terrific website that we hope will answer all your questions.

http://www.federalhousingtaxcredit.com/

Industry insiders are suggesting that the Home Buyer Tax Incentives will not be extended again when they expire at the end of April.

Remember that this credit not only applies to First Time Buyers but also for current owners if you meet certain guidelines.

If we can help you on your property search in Aventura, Sunny Isles Beach, Bal Harbour, Bay Harbor Islands. Surfside, Miami Beach, Hallandale or Hollywood area please do not hesitate to contact us at 786-271-1235, visit us on the web at http://www.golanteam.com/ or shoot us an email to info@golanteam.com

Aventura Mall gets new competition with the Opening of the Village at Gulfstream Park

On Thursday February 11, 2010 the long anticipated opening of the Village at Gulfstream Park will fill the day with festivities and specials. Located just north of Aventura at the beginning of Hallandale Beach and US-1 is the planned project of Gulfstream Park. What originally began as a racetrack has evolved into a casino, shops and will eventually house 70+ restaurants. It will be a true mecca destination and the Developers have spent in excess of $245 million to build this palm filled outdoor mall that will feature nightclubs, restaurants, shops and of course a casino and their world famous Horse Racing course.

A ribbon cutting ceremony starts the day off at 10 am and all day there will be grand opening celebrations including a Latin infused carnival with music and parade at 6:30 p.m.

For a full list of stores and facilities click here: Gulfstream Directory

The Developers of this project are Forest City Enterprises and Magna Entertainment Corp. (MEC). They entered into a joint venture partnership agreement concerning the planned development of The Village at Gulfstream Park. Under the agreement with MEC, Forest City will manage the development of The Village at Gulfstream Park, secure financing for the project and act as the property manager. Each of Forest City and MEC will hold a 50% interest in the joint venture, which will lease the land underlying the retail project on a long-term basis from MEC. The total project size is 1,000,000 square feet and will feature a total of 750,000 square feet of retail space that will be built in phases. This phase consists of 410,000 sf of retail. There are also plans for 1500 residential units to be built and a 310,000 sf club house, 140,000 sf of office space and when completed the entire complex will have 7000 parking spaces.

If you have any questions or would like property information contact the Golan Team at 786-271-1235 or send us an email to info@golanteam.com

Sunny Isles Beach building a four acre multi-use facility

Attention Sunny Isles Beach Residents (or future residents) – there is a fantastic new addition coming to this wonderful oceanfront community.

Construction for the brand new Heritage Park located at 19250 Collins Avenue will begin in about two weeks. Plans include a multi-use parking garage and a three-acre park. The space will feature a dog park, exercise trail, gazebo, basketball court, two tot-lots, a 500-space parking garage with office space, large green space and a picturesque entrance that will contain historical information and signage.

“I think it's going to be the gem of the city and truly magnificent,'' said City Manager Rick Conner said. He continued, ”There will be plenty of space for kids to run, throw a ball or play catch,''

The parking garage is scheduled for completion in June 2010, while the park is scheduled for completion by August 2010.

The Golan Team will keep you up to date with details on the construction. If you are interested in purchasing property in Sunny Isles Beach email us at info@golanteam.com

Buying a Property in South Florida - Weighing your options

There are so many Real Estate topics to write about that a blog can be a full time job!! With the information technology that exists whether you are a Realtor, a Buyer, a Seller or an Investor, there are literally thousands of articles, blogs, comments or sources one can turn too to educate or confuse (LOL) you more!!!

Real Estate is definitely changing and in my opinion, becoming more and more accountable. Buyers are not just buying “what they like” they are using more “scientific” methods to determine which property to purchase.

Case in point, we have been working with a Buyer over the last few weeks who came to Florida with his wife on a “property buying trip”. We spent two days appealing to their “senses” and showed them a variety of oceanfront condos from Bal Harbour across Sunny Isles Beach and up to Hallandale Beach. During this time all their decisions and comments were based on what they saw and what appealed to their physical senses. We needed this process to occur as it helps us determine where they want to live. At the end of this search, we finally settled on one particular building that answered their needs vis a vie to location & amenities. Now we reached the point of selecting a unit to make an offer on.

In the past at this point of beginning the process of making an offer, is when I am used to hearing all about the various aspects of one particular unit that wins over another unit. It could be the choice of flooring, a custom closet, particular lighting etc etc etc. Again, it is a continuation of the process of using their "senses" to purchase. However, in this situation and we are finding the same with a lot of the Buyers we are working with, this is not the case.

It has come down to Price per Square Foot or (PSF). The Price per Square Foot is calculated by taking the asking price and dividing it by the interior (under air) square footage of a property. For example if a property is asking $1,000,000 and is 2,000 sf under air (balconies or garages do not count in this equation), the PSF is $500/ft. I want to add two caveats here. The first is when one is getting ready to buy Real Estate you should look at not only the asking price/foot but also the closed sales prices/ft. Many times this number can be vastly different. The second point that I want to make is regarding quality and finishes. You will pay more PSF for a finished condo on the Ocean then a “Decorator Ready” unit (one that needs flooring, paint etc) and this should be factored in to your PSF. Always make sure you are comparing “like” properties in your analysis.

You should be aware of this especially if you are purchasing a property including financing. An appraiser only uses comparables of sold properties. So even if a property looks like “a great deal” and is priced much lower than competitive ones, check and ask what the sold comparables are and then judge if you have found that “great deal”. The properties that are moving and selling in this market are the ones that have priced themselves correctly against recent closed sales.

Foreclosure properties – those owned by the bank are mostly always priced below the last closed sale comparable. If you are interested in receiving a weekly list (for free) of all luxury foreclosures please subscribe here http://www.southfloridaluxuryforeclosures.com/

Sunny Isles Beach, Florida - Ocean III Unbelievable Buying Opportunity

The Golan Team (786-271-1235) are proud to present for sale at Ocean III in Sunny Isles Beach, Florida, this 3 bed 4.5 bath Oceanfront flowthrough residence on the 23rd floor with Direct Ocean & Intracoastal Views. From a private elevator enter directly into your private foyer. A separate laundry room is located just off this entrance. A double door entry leads into this magnificent residence that is almost 2700 sf under air. This condo features 3/4" mahogany floors throughout the living areas and bedrooms + marble in the kitchen and baths. The master suite includes his and her outfitted custom closets, his and her baths and a bedroom with direct ocean views. The kitchen features Miele and Subzero Appliances. The owners of this unit are the original owners but only used the apartment for a few months so you will see even the oven is brand new and never been used!!! Each bedroom has stunning views of the Ocean or the Intracoastal. They are all very spacious size rooms and feature en-suite bathrooms. Enjoy sunrises and sunsets from two very spacious balconies that can fit table, chairs, outdoor beds and lounge chairs. The views are magnificent and unobstructed. Just check out the pics below!!!

Ocean III is located on the upper end of Sunny Isles Beach. It is a beautiful building and amenities include a 2 story lobby, concierge, valet, gym, pool, full beach service, café restaurant, roof top spa and sun deck, party room, billiards and an Oceanside tennis court.

This residence was just reduced to $991,350 and is an excellent buy in this market. It is also not a short sale, so you can be rest assured for a quick response from the Seller and a quick closing if you desire.



Enjoy Roof Top Jacuzzi & Party Room

Living Room with Stunning Ocean Views Stunning Bay Views from Dining

Room, Kitchen & 2nd Bedroom


Elegant 2 story lobby & Concierge

IF YOU ARE INTERESTED IN SCHEDULING AN APPOINTMENT CALL 786-271-1235

The Golan Team launches new South Florida Luxury Foreclosure Website

The Golan Team at Keller Williams Realty are proud to announce the launch of a new luxury focused foreclosure website.

If you are specifically interested in luxury foreclosures in Dade, Broward or Palm Beach counties (that from just above the Keys to Port St Lucie) click on www.southfloridaluxuryforeclosures.com and sign up for your own personalized free foreclosure mailing list that you can customize to whatever type of property you are interested in. You will receive a weekly list of all foreclosure condos or homes (you specify choose one or the other or choose both!!!) in Southeast Florida.

Foreclosures or REO (Real Estate Owned) are properties that have gone through the entire foreclosure process and are now wholly owned by the bank. We are able to negotiate these properties directly with the bank through their representatives.

As we all know banks are definitely not in the Real Estate business but the money business. Therefore some of these properties can give you the absolute best opportunity to buy at rock bottom dollar.

We urge you to visit www.southfloridaluxuryforeclosures.com and get started on purchasing that great home, vacation condo or investment property today.

Please note this service is being offered to you as a valued subscriber of southfloridacondosblog.com absolutely FREE. At the Golan Team we believe in Helping a Client realize their vision is paramount to our Success.

Inside Word on Oceanfront Foreclosures in Sunny Isles Beach, Florida

For the last 4+ years, Paramount Beach has been trying to sell condos in its prime oceanfront location in Sunny Isles Beach, Florida. It had purchased 2.2 acres of oceanfront property at 16901 Collins Avenue. The plan was for a 47 story building consisting of 232 units. The sales office showed elaborate models, brochures and floorplans. No construction was started at the property location.

In February this year, iStar FM Loans sold the delinquent mortgage to Sunny Isles Property Holdings, which is managed to Carlos Mattos. This past Tuesday the group won a $26.2 million judgement. According to sources, this will give Mattos’s company the inside track at taking the property at the public sale on Sept 4 in the Miami-Dade County Courthouse.

You may recognize the Mattos name. He has been very active in Miami Real Estate recently. On June 17, 2009 a company affiliated with Mattos paid about $6 million for 31 units at 1060 Brickell Avenue, in Miami. Another company affiliated with his business partner, Jorge Mattos recently paid $5.7 million for 21 units at Marina Blue in Marina.

This is not the only foreclosure on the beach in Sunny Isles Beach, Florida.
BankFirst has also filed an $11.7 million foreclosure lawsuit against the developer of the proposed Regalia condominium in Sunny Isles Beach.

The Minneapolis-based bank filed the foreclosure action on June 15, 2009 against Aventura-based Regalia LLC and company members Jerold M. Kaufman, Abraham Cohen, Paul C. Murphy and Avra J. Jain, according to Miami-Dade County Circuit Court records. The action targets the vacant 1.14-acre beachfront site at 19505 Collins Ave. in Sunny Isles Beach.

Regalia got approval to build the 43-story, 40-unit condo, but construction never got under way. The preconstruction prices were from $6.3 million to $14.5 million for the 5,515-square-foot units with 2,100 square feet of balcony space.

BankFirst’s lawsuit also names British Virgin Islands-based Kannon Investment Business, which gave Regalia a $5 million second mortgage.

Regalia bought the site in 2001 for $9 million.

First Time Homebuyers Credit - $8000 you can use now to purchase a property.

July 4th has come and gone and I hope you all enjoyed the festivities and fireworks. Personally here in Aventura, Florida we had lovely fireworks though the weather was a little sticky and humid!!!

Well now that we’ve caught up on the festivities, thought I would share some more good news to all the first time home buyers out there (or the ones you may know). First off, let’s recap the definition of a “First Time Home Buyer”. These are classified as individuals who have not owned a “principal” residence in the last 3 years. This means that even if you own a vacation place or investment property you can still qualify. We first wrote about this in our blog on May 4th, 2009 (Do you want $8000? Buy a house and it’s yours!!!)

When this program first rolled out you needed to purchase your property and close by Nov 30, 2009. Then when you filed your taxes for the year you could apply for the credit. The credit went up to a maximum of $8000.

Last week on July 1, 2009 a new program names Florida Homebuyer Opportunity Program (FLHOP) was created to help First Time Homebuyers get their federal tax credit early and allowing them to use up to $8000 toward a downpayment. This bridge loan is created so that the new homeowner can effectively borrow the funds from the State of Florida and then pay them back after they receive the new tax credit.

For us as local Realtors we think this is going to healthily encourage purchasing of property with quick closings. We anticipate an upsurge of sales as more lenders and Realtors will educate their clients of this wonderful opportunity.

If you qualify for the First Time Home Buyer Credit or know of someone who does please send us information to info@golanteam.com or call us at 786-333-6200.

South Florida Real Estate Market Stats.

Info above is based on 33160,33180,33154 zip codes (Sunny Isles Beach, Aventura, Bal Harbour & Bay Harbour) May 2009 info.

South Florida Market Stats:

Are we at the bottom of the market? Who defines the bottom of the market?

Is it defined as when the sales prices are move up?
Is it defined as when there are more closed property sales month on month and year on year?
Is it defined as when the inventory has shrunk?


There are probably a dozen definitions for the “bottom of the market.” The bottom line is that there are great opportunities out there. A few days The Florida Association of Realtors compiled their monthly analysis on home and condo sales and the results were very positive. For the ninth month in a row, condo and single family home sales were up!!! Is this is a sign of recovery? Perhaps.

The full article goes on to explain how month on month we are up 16% on sales. Click to read more about South Florida Home Sales and Market Stats

Locally our numbers are holding though May seemed a better closed sale month than June (except in Bal Harbour/Bay Harbor Islands which increased), the number of pending sales in June 2009 are still holding strong.:


Aventura, Florida

No of Condo Properties Sold in June 2009: 68

No of Condo Properties Sold in May 2009: 98

No of Condo Properties Pending Sale June 2009: 94

No of Condo Properties Pending Sale May 2009: 60

Sunny Isles Beach, Florida:

No of Condo Properties Sold in June 2009: 32

No of Condo Properties Sold in May 2009: 41
No of Condo Properties Pending Sale June 2009: 55
No of Condo Properties Pending Sale May 2009: 55

Bal Harbour/Bay Harbour, Florida

No of Condo Properties Sold in June 2009: 12

No of Condo Properties Sold in May 2009: 10
No of Condo Properties Pending Sale June 2009: 8

No of Condo Properties Pending Sale May 2009: 10

Interesting to note, in Miami Dade County total inventory of property available is down 26%.

If you are interested in a particular condo building stats or other area stats sent us an email to info@golanteam.com and we will send you the requested information.

Buyer revealed for Shaq's House

We were one of the first to break the news of the sale of Shaq's house. Final sales price was $16,000,000 (a couple of million loss for Shaq who bought the house for $18,800,000 in 2004).

The buyer was none other than Supermodel Naomi Campbell's boyfriend billionaire Valdimir Doronin.

Keep posted to http://www.southfloridacondosblog.com/ for updates on Southeast Florida Real Estate news.

Shaq's Star Island house sold!!!

What a week of news here in Southeast Florida...

Earlier we reported about the sale of the Regent Bal Harbour. Now after 4 years on the market with asking prices reaching $32,000,000, the magnificent Mediterranean estate of Shaquille O'Neal has sold.

This is so hot of the press that if you ask any Realtor to check the local Multiple Listing Service, the property still shows as Available!!!

I have heard from a trusted colleague that after 4 years on the market for sale, Shaq’s house at 26 Star Island has sold. It is a very confidential deal (lots of anonymity with Corporation names etc) but it is sold for under the asking price of $22,500,000.

I have personally had the opportunity to tour the house and I can tell you it is magnificent. Sitting on 2.5 acres with the most stunning open water views, the house is breathtaking. Amenities include an indoor basketball court (of course remember whose house it is!!!), a full size tennis court, a large infinity pool (emblazoned with Shaq’s famous Superman logo), a 2 bedroom guest house, workout room, huge great room, dining room, kitchen and a master suite fit for a king…The main house has 7 bedrooms, 8 full baths and 2 half baths and occupies 19,440 sf. Got a car or two - no problem here with a 6 car garage and huge driveway to park at least a dozen more.

About a year ago when the price of the house was $32,000,000 my partner, Eyal and I showed the property to a wealthy client of ours. It wasn’t easy to arrange the showing, as you must imagine the confidentiality and background checks we had to go through. In my opinion and I have had the honor and pleasure of viewing many of the most beautiful properties in Southeast Florida, this house was unique. On Star Island it ranks as one of the top properties in size, land and positioning on the Island.

Star Island is home to many personalities including Gloria Estefan, P Diddy, Rosie O Donnell, Tommy Motola, Philip Frost (formerly of pharmaceutical giant IVAX) and more. It is located just south of South Beach. There are three island that form this cluster. The other two are Hibiscus Island and Palm Island.

Currently there is only one other property available on Star Island, a 10 bedroom 9 full bath and 3 half bath home with an asking price of $15,500,000 on over an acre of land. Click to see photos of 45 Star Island.

If you are interested in viewing this home or want to see other great waterfront home or condo opportunites here, contact us at info@golanteam.com or call us at 786-271-1235 or 786-333-6200.

WCI sells Regent Hotel in Bal Harbour, Florida

It has definitely been an interesting week so far in Southeast Florida Real Estate. Top news of the week is the selling of its shares in the Regent Bal Harbour by WCI Communities only to have the Regent Hotel Chain pull out of the property the next day. The Regent Bal Harbour or I should say the Bal Harbour Hotel which I believe will be the new name) is located on one of the prestigious oceanfront lots in all of South Florida.

Right on the Haulover Inlet the views are absolutely spectacular. It is a condo hotel project which like most Real Estate in South East Florida has seen a drop in value. It shares the same address as One Bal Harbour – one of the most luxurious condo buildings on the Beach.

Currently there are 18 listing for sale ranging from studios to 1 bedroom suites. Prices range from $369,000 (an unbelievable short sale opportunity) to $1,150,000. Owners can use the units as well as put them into the hotel program to earn income while they are vacant. Maintenances fees run between $3000-$3500 depending on the size of the unit. However this maintenance fee can be recouped depending on owners entering their units into the hotel pools and the revenue this generates. Please click to see properties available at Regent Bal Harbour

Earlier I mentioned that the hotel shares some amenities (like a gorgeous pool deck and 24 hour valet, housekeeping and full concierge ) with the condo One Bal Harbour. This luxurious building currently has 33 properties for sale ranging from 1972 sf (2 bed 2.5 bath) to 5200+ sf (4 bed 4.5 bath) and are priced between $1,295,000 and $6,299,000. Many of these units have been reduced in price. To see pictures click One Bal Harbour Properties.

If you would like more information or to arrange a private viewing the Golan Team are available at 786-271-1235 or 786-333-6200.

IRA accounts - a great way to invest in South Florida Real Estate

Buying Real Estate with your IRA account.

With the current instability of the stock market, many individuals are wondering what to do with their IRA accounts.

Investing in real estate through an IRA is one of the hottest new areas of investment.

Why invest in Real Estate now?

1) The stock market has tanked. Stock portfolios on average are down 30-50% and even more in certain instances.

2) Real Estate prices are dramatically lower than just two-three years ago creating a tremendous upside through both a higher further resale value and current return on investment (rental revenue).

3) There are a tremendous amount of foreclosures and auctions where you can pick up properties at 20-40% of their original values.

4) By purchasing real estate through your IRAs you are not changing your retirement plan funds, which was to build tax-free value for a later date, you are simply changing the type of investment you are investing in.

How to purchase Real Estate with an IRA account:

There are a couple of technical requirements that allow people to purchase Real Estate in an IRA. (Note always consult a tax professional as well as a Realtor for all the conditions you must meet). The most important of these requirements is that you must have a separate investment account with the required documentation and not commingle this account with any other funds. i.e. if you buy a property for investment then the rent money must be paid into that account. Also if you need to do repairs on improvement on the property you must use funds from this account, not your personal account.

If you are interested in learning more about purchasing property with your IRA send us an email to info@golanteam.com.

Foreclosure properties available for sale:

If you want to search foreclosure properties in Aventura, Sunny Isles Beach, Bal Harbour and Miami Beach click on the following resources.

Current Foreclosures Available for Sale in Aventura

Current Foreclosures Available for Sale in Sunny Isles Beach

Current Foreclosures Available for Sale in Bal Harbour

Current Foreclosures Available for Sale in Miami Beach

Do you want $8000 - Buy a house and it's yours!!!! Certain restrictions apply!!!!

Can you use $8000?

Well the government is willing to give it to you to buy a house!

The federal tax credit is actually available for anyone purchasing a home that has not owned a principal home in the previous 3 years. Note they call it a “first time home buyer tax credit” but it does not mean you are purchasing a property for the first time!

There are certain limitations and criteria that you must meet in order to be eligible for the tax credit:

1 The deduction is worth 10% of the home’s value up to $8,000 (this means that every house valued over $80,000 can qualify for the maximum amount).

2.Income qualifications:
a) A married couple’s modified adjusted income (MAGI) should be under $150,000.
b) A single filer’s income should be less than $75,000
c) Partial credits may be available for married couples with MAGI incomes over $150,000 but under $170,000.
d) Partial credits may be available for single incomes over $75,000 but under $95,000.
e) If a married couple files individual returns, they can both claim 5% of the home purchase ($4000 each if home value is over $80,000) on their tax returns.

3. This is a tax credit not deduction. This means the entire amount goes back to the “first time homebuyer” unlike other deductions like interest on your mortgage which is deducted from gross income before tax is calculated. If you qualify for the $8000 credit, you will get $8000 even if they would not owe that much in taxes.

4. The tax credit applies to homes purchased from Jan 1, 2009 through Nov 30, 2009.

5. The tax credit does not have to be paid back, as long as the Buyer keeps the home for at least 36 months and resides in the home. This means you must make this your principle residence for 36 months in order to keep the credit.

6. To qualify, as a “first time Buyer” the purchaser cannot have owned a home within the previous three years. However ownership of a vacation home or rental home does not disqualify the Buyer.

7. The credit only applies from the day the Buyer takes possession of the property. For example if you purchase a pre construction home between Jan 1, 2009 and Nov 30, 2009, but you do not take possession until Jan 2010 you will not be eligible for the credit.

8. The tax credit can be claimed on 2008 income taxes even if you purchase the property in 2009.

It is important to note that the tax credit is not a down payment. However, if you know you are definitely purchasing between Jan 1 2009 and Nov 30 2009 and you are a US Taxpayer who has money withheld from their paychecks for income taxes and you owe more tax then the amount deducted you can pay the IRS: but if you owe less you can get a refund. If you could anticipate at least an $8000 refund in early 2010 when you file your 2009 taxes, you could technically cut down on your tax withholding this year and save the money toward a downpayment. There is one important caveat to remember – if you don’t purchase a home in the qualifying period you would still owe the money to the IRS, and not withholding can lead to a high bill at tax time.

You can visit the IRS website to learn more: IRS HOMEBUYING CREDIT
To check out neighborhood properties click here: Buy A Home

Sotuh Florida Real Estate - it depends on how you decide to see things

I had the pleasure of reading some wonderful lessons from a business coach and there was one lesson that resonated deeply with me. It was not phrased as a question but as a statement:

“Success depends on your mind-set”

Never have I heard a more truthful statement. The economy is telling us that we are suffering, that we cannot be successful because the economy is so bad. This self-limiting belief can prevent us all from achieving.

The coach went on to explain, as a child you are already programmed with self-limiting beliefs such as, “don’t talk to strangers” or “don’t be too forward” etc. These beliefs can actually hinder you in the future as they put negative and limiting beliefs.

Think of it like this: if you become excited and enthused about something no matter who you speak to about it they too will “catch your enthusiasm” and feed off your positive energy. Unfortunately the opposite also holds true.

As an active Realtor in today’s market, I am always hearing about how negative the market is. The fact is what can be negative to one person can also be an opportunity in disguise. Today’s Real Estate market has plenty of these opportunities to find. Prices are lower. Banks are more willing to negotiate and more and more Sellers have become realistic. Remember as a Seller you cannot think of what you need to sell for the price will only be set by what Buyers will be willing to pay for it.

As a Realtor I am having these conversations daily with my Sellers. I explain that there are ways to capitalize on this market but that you must also be willing to invest. For instance, did you know that staging a property can help not only sell a property faster but also for a higher dollar amount. De-cluttering is also another useful tool. I explain to Sellers that the moment you decide to list a property for sale is the moment that your property goes from being your “home” to an “investment”. Working with an experienced Realtor will benefit you tremendously.

To find out the current market value of your property send us an email at info@golanteam.com.

Statistics for February 2009 condo activity in Aventura, FL

Aventura sales were up but so was inventory in February 2009.

Below please find a chart of activity, pending sales and closed sales for Aventura in February 2009.

New condos listings in the market

Feb 2009 - 199

Feb 2008 - 49

# of listings of condos available

Feb 2009 - 1821

Feb 2008 - 401

Pending Sales

Feb 2009 - 79

Feb 2008 - 6

Closed Sales

Feb 2009 - 261

Feb 2008 - 51

The most expensive condo on the market in Aventura in February 2009 was a 6 bedroom apartment in Williams Island asking price $4.9 million. The lowest price was a one bedroom condo in Point East (an over 55 community) for $65,000.

Stayed tuned later this week for statistics on homes in Aventura as well as condos and homes in surrounding areas.

If you are interested in seeing any of these properties contact the Golan Team at 786-271-1235 or visit us on the web at www.golanteam.com

Sunny Isles Beach - Ocean III Best Deal - Stunning 3 bed Oceanfront unit

Ocean III is a beautiful oceanfront complex in Sunny Isles Beach, Florida built in 2003 by The Related Group and designed by the architectural firm of Sieger Suarez. It soars 32 stories and boasts oceanfront amenities such as pool, gym, café, party rooms, tennis courts, roof top Jacuzzi and sundeck as well as conference rooms, valet, security and self parking privileges.

Most units feature private high speed elevators that open into private foyer areas. The building was specifically designed that every unit will have ocean views.

Currently there are 28 units for sale at Ocean III showing this is a very healthy building even though the economy is struggling. The building has 215 residences in total ranging from 2-4 bedrooms and 1591 sf to almost 4000 sf.

We have had the privilege of listing 2307, located on the 23rd floor. It is a flowthrough residence with 2649 sf under air + two huge entertaining style terraces.

This residence features 3 bedrooms 4.5 bathrooms and has two balconies allowing for direct east (oceanfront) and west (open bay and City of Aventura) views. In a word, “Breathtaking.” With brazilian cherry ¾” solid wood floors throughout, this residence is vacant and available for sale or rent. The bedrooms are all spacious and have ensuite bathrooms. The master suite includes his and her walk in closets, his bathroom and her bathroom with a jacuzzi overlooking the ocean. The kitchen is eat in and features Miele cooktop, oven, subzero Refrigerator and a Miele dishwasher.

The last sale of a similar unit was December 2007 when the same unit, two floors higher, sold for $1,270,000.

We have just reduced this unit to $1,065,000 an unbelievable opportunity for the right Buyer.
Please call us at 786-271-1235 to schedule a visit and we hope you can call this magnificent place “home” soon. PS It is also available for rent at $5000/month unfurnished.

Keller Williams Family Reunion - Lessons for All

Last week was a real wake up call. The whole Golan Team attended the Keller Williams Family Reunion in Orlando, Florida. For most when you think of a “Family Reunion” you think of fun in the sun, maybe a cruise, but most likely a big party and a lot of good memories.

For Keller Williams Agents, Family Reunion definitely does include the spirit of fun but it is more about work, goals, ethics and taking your business to a new level of achievement. For the Golan Team, that was exactly what we went to Family Reunion to achieve.

Almost 7000 Keller Williams Agents thought the same thing. Gary Keller, who founded the company in 1983 talked about all the opportunities we have as Agents in this “Shifted” market. There were approximately 100 seminars to attend over the three day period and there many lessons to learn whether you were a Realtor, a Buyer, a Seller or an Investor. Below I thought I would share a few thoughts that I think we can all learn lessons from:




These were my top 5 lessons that have changed my outlook not only on the Real Estate market but also in my personal life…


1) FOCUS ON WHAT YOU GET FROM AN EXPENSE: This is universal.. if you are subscribing to a service are you getting the most for it? Cut your expenses to a minimum…ask yourself do you really need this? Is it producing more than it is costing you? Are you bringing in more than you are spending? This principle can be applied not only to Real Estate but to every expense in our everyday lives.

2) If you want to sell your house then, “BE IN THE MARKET NOT ON THE MARKET”. Listing a property today is not the hard part – selling it is. The truth is that if a property is priced right (defined as being in the bottom 10%-20% of the lowest property price point for your property) it will sell…These are the properties that are attracting Buyers and know THERE ARE BUYERS OUT THERE. So remember in order to achieve your goal of selling a property = PRICE IT RIGHT.


3) Know that the price given to you at a Listing Presentation has an expiration date just like the milk in your refrigerator!!! Again thinking about the principle above, you must always be aggressive in your pricing and watch what is selling around you and why it is selling and yours is not. Be diligent in reducing your price of your property to attract the most Buyers. This is called, “the worry price” the price at which Buyers will worry that if they don’t jump on it, they will miss the opportunity.

4) Be consistent, Be Persistent and think like a Warrior. We all need to understand that we are fighting for our survival (just look at the economy) so think like a Warrior and keep that mentality to achieve your goals in this marketplace.


5) “Qualify your expectations” Be realistic about your goals. If you are listing a property then be realistic about the selling price. This market is based on the principle of timing and opportunity. Opportunity is a result of attracting the Buyer who will pay the best price in this market for your property and it is up to you to capitalize on this.

If you would like to discuss any of this further, please feel free to comment or contact me via email : debra@golanteam.com or phone 786-333-6200. If you also want to know how to sell your property and attract multiple offers, again please contact us to discuss strategies.

Bal Harbour - BALMORAL - Best Priced Condo attracts Multiple Offers

Every day I am asked, “how is the Real Estate market doing…it must be dead?” It is asked as a question, but I hear it more and more like a statement. However, I always answer and say truthfully that the market is "Great" for us, business is "Great." The truth is it is "Great." This market is making us not only work harder but truthfully work better. It is a market of quality not quantity. What I mean by that is that if you have a property that you price right, stage right and market right – the Buyers out there will see the value of the deal and jump right on it…

Case in Point: Balmoral, Bal Harbour

We recently listed (just 3 days ago) a 2 bedroom with 2 bathroom, 1388sf (currently set up as a one bed convertible) with oceanview from every window at The Balmoral, in Bal Harbour, FL. The Balmoral is a large and elegant building comprising of 423 residences + cabanas. The building has many amenities including restaurant, gym, concierge, tennis, card rooms, business center and more. A few years ago it underwent a huge assessment and renovation and when you walk in you feel the elegance, richness and high level of service the building is famous for.

We met with the Sellers and their attorney (it is an estate sale) and discussed the pricing strategy for the unit. We agreed to price it correctly from the beginning to achieve a high volume of traffic and hopefully multiple offers. Below are a couple of pictures of the unit and views...

I am pleased to say after three days on the market we have had over 6 visits scheduled to the unit and two offers presented. I am confident through our correct pricing strategy and constant marketing approach we should have this property under contract within a week…Now again ask me, “how is the Real Estate market doing” and again I will answer, “GREAT!!!”.

By the way, if you want to check this unit out call us at 786-333-6200 to schedule an appointment.