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What has happened to Aventura’s Luxury Condominiums over $750,000 during the First Quarter (Q1) of 2011?

One tasks I was requested to tackle after I joined ONE Sotheby’s International Realty was to compare what  happened to the Aventura luxury condo market between 2008 – 2011. Although I already knew that this has been a great year, I did not realize how good it had been  until I put together the information I am about to share with you. And I am sure that from here we can only go in one direction … forward (meaning more sales and a more stable market).

AVERAGE DAYS ON THE MARKET (DOM)

I am looking at the chart above and I am happy to see that the Average Days on the Market (DOM) for luxury Condominiums in the City of Aventura has gone down by 28%. This means that in the First Quarter of 2011 it took 140 days to sell a condominium in Aventura as compared to 194 days in the first quarter of 2008.

For this Blog I took into account the following condominiums:

Porto Vita
Peninsula
Bella Mare
Atlantic I, II and III
One Island Place
Hamptons South

SUPPLY AND DEMAND

There’s a similar behavior in the number of condos for Sale in Aventura. In the First Quarter of 2008 we had 481 condos for sale above $700,000 as compared to only 276 in the First Quarter of 2011.

And the numbers of sold condos doubled from 11 in Q1 of 2008 to 22 in Q1 of 2011.

Lately the Aventura Luxury Condominium market became a cash market with just a few conventional mortgages and some short sales and foreclosures every now and then but they were exceptional in this price range.

As of the date I am posting this blog the most expensive condominium for sale is the PH-01 at Porto Vita offered at $12,000,000 with its own private terrace and pool overlooking Golden Beach, the Intracoastal Waterways and the Ocean. It is evident that Porto Vita is the most expensive condominium in Aventura.

And the last reported sale was also in Porto Vita! The 3 bedroom 5 bath condominium on the 20th floor with 3374 sq.ft  offered at $2,450,000.

So, this blog post is telling us that it is taking less time to sell a luxury condominium, that we have a lower inventory and more

Are you ready to jump and buy? You don’t want to  miss out on  a great “deal”? Well, I am not sure if you have much time …

New Upcoming Golf Tournament at the Fairmont Golf Resort in Aventura

Are you joining? Too bad they don’t offer the same for the women’s league!

The Turnberry Isle Shootout starts June 5th, 2011.

The Edge Tour is the Evolution in Tournament Golf. From soothing massages and stretching sessions before your warm up at the range, to after your last putt on the 18th hole. The entire aura around the tournament experience will cater to your every need. You just have to hit the shots!

The 18-hole “Soffer Course” at the Turnberry Isle Resort & Club facility in Aventura, Florida. Designed by Robert Trent Jones, ASGCA.

South Florida’s legendary golf destination, a Mediterranean-style property set among 300 tropical acres located in Aventura, Florida, recently unveiled a stunning $150 million transformation. The new Fairmont Turnberry Isle, a North Miami landmark, debuted to rave reviews from travel publications and even more importantly, guests. Over $45 million was devoted to the two on-property golf courses that are more beautiful and more enjoyable to play than ever before. World Golf Hall of Famer Raymond Floyd completely redesigned both championship courses from tee to green and the results are nothing short of spectacular. In doing so, he also changed the landscape of Florida golf. It’s golf unlike any other in the Sunshine State with gently contoured fairways, doglegs, spectacular water features, and more elevation changes than is often seen in this part of the state.

Further enhancing the experience, a spectacular 64-foot waterfall – the largest in the State – provides an unforgettable finish on the Soffer Course’s 18-hole Island Green, while colorful indigenous flora and tropical trees surrounding each hole serve as a natural privacy barrier so every foursome feels like they’re the only players on the course.

This is a private club and it is a wonderful opportunity to play on such a gorgeous golf course. There is no self parking – only valet which is approx $15.

Registration will be closing on June 4th at 11:59 p.m. To register for the tournament click here

This organization  so far we has raised $297.00 for the National Parkinsons Foundation!

If  you are signing up good luck in the tournament!!!

And remember that for more information about Aventura and North Dade real estate contact me @ adriana@realgreentrends.com or (305)773-0253;  and I will assist you.

In today’s video blog Adriana Faerman is getting ready for taxes and provides useful information regarding tax deductions. If you want to learn more about the Federal Tax Credit for Consumer Energy Efficiency click here and there’s a number of other sites you can visit.

Take a minute and leave your comments or questions …

Please send your suggestions and opinions to Adriana at adriana@realgreentrends.com or by leaving your comments in her blog, they are always welcome!

Adriana Faerman video blogs about when you are moving its very important to contact US Post Office to forward your mail to your new  address so you don’t burden the new owners or your Realtor with having to collect your mail. Please, send me your suggestions at adriana@realgreentrends.com or by leaving your comments in my blog , they are always welcome.

If you are going to move soon, you might be interested in seeing the following video on how to fill out the mail forwarding form:

Adriana Faerman, a broker associate in Miami Beach and vicinities, has a new take on real estate marketing – the vlog or video blog. A raw,sincere,candid, unedited and opinionated real estate video blog is just a click away.

If you share or don’t support  Adriana’s opinion, just email Adriana at adriana@realgreentrends.com.

Please, remember that data, prices and information presented is always subject to change without notice.

ARE YOU ASKING YOUR REALTOR THE RIGHT QUESTIONS?

Here Adriana discusses a repeated issue faced both by sellers and agents at a listing appointment. Most of the time Sellers are worried about the price.  The sellers’ property might be worth $ 650,000 but some Realtor told them they would get $800,000 and perhaps charge less commission.  Has this last Realtor sold many listings recently? How long it had take him? What is his pricing approach? Adriana sees how the sellers choose agents because they give them the price  they want regardless of the current market price. Then the sellers end up wasting their time – and money-  and their property expires without being not sold. Now,  they can still ask Adriana to market their property at the right price with her personal marketing approach.

Another encouraging news from The Miami Herald

I want to share with you the story below.  The results of this study released by Trulia shows Miami as the #1 city in America where it is now more advantageous to buy than to rent.

With rental values strengthening across South Florida, contrasted against the best home values for purchase that we have seen in a decade, more and more of our residents are returning to home ownership.

The Miami Herald Posted Tuesday, 01.25.11

Miami top big city to buy home now

It makes more sense to buy a home in Miami rather than to rent, according to a new report from Trulia, which ranks Miami as the nation’s top buyer’s market.

BY: TOLUSE OLORUNNIPA

Is there any upside to having a sky-high foreclosure rate, double-digit unemployment and a tight credit market? According to a respected real estate firm, these elements help make Miami the top market in the nation to buy a home rather than to rent.

Miami has moved up two spots since last year to become the nation’s most attractive market to become a homeowner rather than renting, a new report by real estate research firm Trulia found. The study, released Monday, compared home prices and rental rates in the nation’s 50 largest cities to determine where homeownership made the most financial sense.

Potential buyers are starting to take note of South Florida’s shifting buy-vs.-rent dynamic. Arden Shank, director of Neighborhood Housing Services of South Florida, said first-time homebuyers from Broward and Miami-Dade counties are flooding his office.

We have more families coming through the homebuyers preparation process than we have ever had,” he said. A lot of people who were priced out of the market before can now afford to buy a home.”

Trulia came up with the ranking by comparing the cost of buying a median-priced 2-bedroom, 2-bath home with the cost of renting a similar property for a year. Cities were ranked as either “buy” or “rent” based on the ratio of buy-to-rent costs.

For example, the median-priced 2-bedroom in Miami costs $140,201, according to the website. To rent a 2-bedroom apartment for a year would cost $22,459, resulting in a buy-to-rent ratio of 6 (Trulia rounds to the nearest whole number). In other words, renting a home for six years would cost about as much as buying a home free-and-clear. The markets where it makes the least financial sense to buy — places like New York and Seattle — have buy-to-rent ratios as high as 31. Any ratio below 15 was considered a buyer’s market.

The report factors in costs associated with homeownership like interest, insurance, and property taxes. Even with the additional costs, buying a home is more affordable than renting in 72 percent of the nation’s largest cities. The cities where homeownership is a particularly desirable option are places struggling with high unemployment and foreclosures — areas like Phoenix, Jacksonville and Fresno.

Trulia found in the midst of the buyer’s market, renting is becoming more popular and more costly at the same time.

Since the start of the `Great Recession,’ many former homeowners have flooded the rental market. Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets,” said Pete Flint, CEO and co-founder of Trulia, in a statement.

Click here to read more, and call me to discuss your purchasing needs and start looking for your home or condo.

Are you looking to enjoy this wonderful South Florida weather with an Eco friendly activity?

Residents and Visitors are invited to visit  Greynolds Park and take the Guided Nature Walks offered for all ages.

This  249-acre park consisting of a variety of habitats. Greynolds is one of the last well-protected natural areas of northern Miami-Dade County. Tequesta Indians used the Oleta River, which runs along the east side of the park, as a source of transportation.

The park is named after A.O. Greynolds, the head of Ojus Rock Company, who deeded the land over to Miami-Dade County Parks Department in 1936.

The park offers Eco-adventure tours, there’s  a bird rookery, mangrove boardwalk, observation mound, paved path around a lagoon, and historical boathouse

Canoes, kayaks and paddle boats available for rental on weekends and holidays. Nature trails and nature center open weekend and holidays. There’s also bird and butterfly walks, historical nature walks, bat and owl walks. A wide variety of outdoor field trips available.

Greynolds Park is located on 17530 W Dixie Highway, North Miami Beach, FL Call 305-948-2891 for reservations.

You know that I support sustained energy, green-friendly living and eco-friendly projects. So, I try to stay informed and share eco friendly activities and information.

Well, this time I was happy to learn that the City of Aventura is inviting all of us to the annual Go Green Expo Symosium which will be held at the Government Center next month.

The Go GREEN Expo and Symposium which will be held at the Government Center on Thursday, February 24, 2011 at 6:45 PM.

Attendees will learn how the City of Aventura is going green in its operations, while discovering ways to establish or enhance their own GO GREEN initiatives.

In addition to the Symposium, the city will be adding an Expo that will feature former City of Aventura GO GREEN initiative winners, as well as exhibits by utility providers.

The Symposium and Expo will feature relevant speakers and presenters from the City of Aventura andother agencies. Attendees will also receive energy saving tips from FPL and recycling benefits from Waste Management.

 The GO GREEN Expo and Symposium will be held at the Aventura Government Center, 19200 West Country Club Drive.

Applications for the 2011 GO GREEN Recognition Program for residential and commercial properties will be available. The GO GREEN Recognition Program is part of the City’s annual Arbor Day Celebration which will be held on May 17, 2011 at the Aventura Arts & Cultural Center when the GO GREEN awards are presented. For more information, please visit the City’s website or call 305-466-8930.

 

 

 

 

Buenas Noticias para los propietarios de casas y condos en Florida

De acuerdo con la Asociacion de Realtors de la Florida las ventas para Diciembre subieron un 4% y un 5% en total para el año. En Miami las ventas subieron un 18% para las casas y un 29% para los condominios entre diciembre 2009 y diciembre 2010. Tambien se registraron incrementos en Palm Beach y en Boca Raton.  A pesar de que aumentaron las ventas en la mayoria de los segmentos del mercado residencial del Sur de la Florida los valores continuaron cayendo durante el año pasado. Los precios medios en diciembre eran del $133.100 un 5% por debajo del precio medio en diciembre de 2009 y un poco mas alto que el registrado en noviembre de 2010.

No obstante las ventas y ofertas en las zonas de Aventura y Sunny Isles real estate siguen mostrando un incremento y en algunos casos situaciones de ofertas multiples.

Busca vender su propiedad? No busque mas, llameme que estoy lista para realizar la mejor operacion, marketing y negociacion para Ud.

Busca comprar? Le enviare la informacion mas detallada y lo guiare en el proceso.

Llameme o comuniquese conmigo de inmediato. Sigame en facebook (like me en realgreentrends.com)  o en twitter @adrianafaerman

Florida existing home sales rise in December

Florida existing home sales rose on a year-over-year basis by 4 percent in December, and 5 percent during 2010 overall, according to new data from Florida Realtors. In Miami, sales rose 18 percent for single-family homes and 29 percent for condominiums between December 2009 and December 2010. The West Palm Beach-Boca Raton area also saw increases, with single-family existing home sales up 9 percent and condo sales up 26 percent during that period. Broward, meanwhile, saw a 7 percent increase in condo sales, but a 14 percent decrease in sales of single-family homes. Although sales picked up in most segments of the South Florida residential sales market, values continued to fall from last year. The median sales price in December was $133,100 in Florida, down another 5 percent from the median of $139,800 in December 2009 and slightly higher than the $132,700 recorded in November 2010, Florida Realtors said.

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