FAR: Condo, home sales fell in October

Sales of existing single-family homes and condominiums continued their decline in October, a Florida Association of Realtors report showed.

Prices also fell across the region, except in Miami - where the average existing condo price increased 7 percent and the average home price stayed flat - and Fort Lauderdale, where the average home price inched up 1 percent.

In Miami, the number of existing single-family homes sold in October fell 33 percent, to 367 from 544 the year before. That number fell 27 percent, to 450 from 618, in West Palm Beach-Boca Raton and fell 28 percent, to 428 from 591, in Fort Lauderdale.

The average price of a home in Miami stayed relatively flat, at $354,800, compared with $356,000 the year prior. It inched up 1 percent to $354,000 from $349,400 in Fort Lauderdale, and fell 5 percent to $348,300 from $365,600 in West Palm Beach-Boca Raton.

Near South Florida, the number of homes sold:

* fell 36 percent, to 405 from 630, in Fort Meyers-Cape Coral, as prices decreased 4 percent to $239,300 from $249,800.
* fell 41 percent, to 218 from 367, as prices decreased 17 percent, to $201,000 from $242,400, in Fort Pierce-Port St. Lucie.
* fell 30 percent, to 361 from 515, as prices decreased 11 percent, to $189,400 from $213,300, in Melbourne-Titusville-Palm Bay.
* rose 4 percent, to 27 from 26, as prices decreased 14 percent, to $450,000 from $523,500, in Naples-Marco Island. However, information for the area is not reliable, as the numbers are only from the Marco Island Association of Realtors. Data from the Naples Area Board of Realtors and Association of Real Estate Professionals were not included.
* fell 33 percent, to 168 from 251, as prices decreased 11 percent, to $183,300 from $206,300, in Punta Gorda.

Statewide home sales fell 29 percent, to 9,165 from 12,846, and prices decreased 8 percent, to $222,100 from $242,700.

In Fort Lauderdale, the number of condominiums sold fell 27 percent, to 424 from 580 the year before. In Miami, that number fell 14 percent, to 436 from 508, and in West Palm Beach-Boca Raton it fell 12 percent, to 392 from 447.

The median price for a condominium in Boca Raton-West Palm Beach fell 30 percent, to $158,900 from $225,500, and 24 percent in Fort Lauderdale, to $159,300 from $210,100. It increased 7 percent, to $266,300 from $250,000, in Miami.

Near South Florida, the number of condos sold:

* fell 28 percent, to 105 from 145, in Fort Myers-Cape Coral, as prices decreased 28 percent, to $195,800 from $270,700
* fell 13 percent, to 46 from 53, in Fort Pierce-Port St. Lucie, as prices stayed flat at $225,500
* fell 10 percent, to 83 from 92, in Melbourne-Titusville-Palm Bay, as prices decreased 7 percent, to $166,300 from $178,300.
* fell 7 percent, to 25 from 27, in Naples-Marco Island, as prices decreased 22 percent, to $375,000 from $483,300. However, information for the area is not reliable, as the numbers are only from the Marco Island Association of Realtors. Data from the Naples Area Board of Realtors and Association of Real Estate Professionals were not included.
* fell 63 percent, to 21 from 56, in Punta Gorda, as prices fell 44 percent, to $170,000 from $305,600.

Condo sales across the state fell 20 percent, to 2,819 from 3,508. Prices fell 8 percent, to $192,400 from $209,500.

Source : http://southflorida.bizjournals.com/

Florida Beachfront Vacation Rentals

The mention of beaches and such riches brings to mind only Florida – the sunshine state – where there is no shortage of exquisite sun-kissed beaches or of charming beachfront and oceanfront vacation homes. The beaches of Florida are not limited to just the coastline of the mainland; there are a large number of barrier islands as well. So, vacationers seeking a beach break in Florida can choose from the beachfront vacation homes on the Atlantic coast, on the coast of the Gulf of Mexico, or on the shores fronting the Intracoastal Waterways. Beachfront vacation homes in Florida can be found in regions such as Miami Beach, Amelia Island, Cape Coral, Treasure Island, Fort Lauderdale, Santa Rosa Beach, Destin, Cape Canaveral and the Space Coast, as well as in the region of the Florida Keys.

With the boom in the online vacation rental industry, finding a beachfront or oceanfront vacation rental in Florida is not difficult either. A1floridarentalvacation.com offers visitors with the options of searching vacation rentals in the different regions of Florida. Search results can be narrowed down by entering your preferences which include the location and type of vacation home, and any special amenities including pet-friendly, wheelchair friendly, smoking allowed etc. You can choose a property yourself by checking out its photographs, reading its description, amenities, and getting to know about its rates. Moreover, you can directly contact the vacation rental owner and book your home for your vacation. So, happy browsing and we hope that you can easily find your dream vacation home for the beach vacation of your lifetime.

Source : http://www.a1floridarentalvacation.com/

Miami Beach Florida real estate

Miami Beach Florida real estate and South Beach Fl real estate have become one of the most popular real estate investments in the world

Miami Beach Prestige Realty is a high performing real estate firm that achieves exceptional results for its clients. Our Miami Beach real estate agents are dedicated to servicing all your real estate needs.

Affluent buyers from around the world have converged to the South Florida real estate market to purchase vacation properties, condominiums, single family homes, villas on the Atlantic ocean, mini mansions on the Intracoastal Waterways, and second homes, in areas like Palm Beach, Fort Lauderdale, Golden Beach, Sunny Isles Beach, Miami Beach, South Beach and the surrounding areas of Bal Harbour and Aventura.

Miami Beach Prestige Realty specializes in affluent and luxury properties in Miami and its surrounding most exclusive neighborhoods including Star Island, Fisher Island, Tahiti Beach, Indian Creek, Golden Beach, Bal Harbour, South Beach, Key Biscayne, Brickell, Gables Estates, Coconut Grove, Aventura, Hallandale Beach, Hollywood Beach, among others, in Miami, and Hillsboro, Rio Vista, Harbor Beach, Lauderdale-by-the Sea, Las Olas and Lighthouse point, in Fort Lauderdale.

Miami Beach Prestige Realty offers superior Miami Beach Florida Real Estate, South Beach Florida Real Estate service for buying and selling homes, condos, and villas in South Florida. We have sold in some of the most prestigious & expensive residential condos to date in Miami Beach, South Beach and surrounding areas. Let our local experienced Miami Beach real estate agents be your guide for your next home purchase in Miami. If you would like to list your own property for sale with Miami Beach Prestige Realty, please contact us at +1-305-785-6480, E-mail: erena@bellsouth.net

Many of the people buying South Beach real estate enjoy the pristine sands of the beach as well as the world famous nightlife. There are many cool and famous night clubs, lounges, and famous bars, on Ocean Drive, Collins Avenue, and Washington Avenue in South Beach. These hot spots are always full of beautiful people having a great time, and the party scene is among, what has made South Beach such a fun place for people to visit, play and live.

South Beach real estate market is concentrated in a small area of twenty five blocks and it is surrounded by pristine waters, the Atlantic Ocean on One side and the Biscayne Waterways on the other side. South Beach Properties range from the ultra luxurious such as Apogee at 800 South Point Drive and Continuum directly on the southern tip of the ocean on South Beach. South Beach is also famous for its smaller and historic art deco buildings situated in the heart of South Beach. Most of the Art Deco condos and buildings are from the 40’s and 50’s, and give South Beach a unique feel and look.

South Beach is a very convenient place to live everything is within walking distance of your South Beach residence.

Diversity is what makes South Beach real estate so appealing to such a wide range of people from different walks of life from all around the world.

South Beach Miami condos have seen a huge construction and redevelopment boom in areas of new construction condos, villas, homes, and condo hotels in the last several years.

The area south of Fifth Street (known as “SoFi”) is home to some of the most luxurious hi-rise condos in the world, with its defining skyline, From the Continuum south tower, Continuum north Tower, Apogee, Portofino Tower, Murano at Portofino, Murano Grande and the Icon south beach inspired by Yoo by Philippe Starck, and the soon to come 5 star Viceroy south beach condo hotel and resort on South Point drive.

The lure of Miami Beach real estate dates back to when Carl Fisher today know for the world famous Fisher Island in South Beach started developing and selling Miami Beach real estate in the mid 1920's. Today is no different with the year round tropical climate and some of the best beaches in the world which attract, world-class boating golfing in Palm Beach, Aventura and Fisher Island to mention just a few, divers cultures, fine dining VIP nightlife and party scene in the world famous south beach, not to forget the high end shopping in Palm Beach, Merrick Park and Bal Harbour shops.

Bal Harbour is the home to several new condos. One Bal Harbour residances addjoining the Regent, Bellini, Majestic tower, and The soon to be St.Regis Residence and resort are among the celebrated few.

Bal Harbour offers some of the worlds most luxurious condos and penthouses to its elite five star residences and hotel guests.

South Beach has some of the most luxurious and most expensive penthouse condos like the World Famous South Beach ICON, Setai, Il Villaggio on Ocean Drive, Bath Club on Millionares row, Continuum south tower and the soon to be completed north tower, Viceroy South Beach, not to forget the Related Group most luxurious APOGEE condominimum. Residences. APOGEE will set the new standard in mega glamorous luxury living in South Beach, just like its predecessors Murano Grande and Icon South Beach did before it.


Source : http://www.miamibeachprestigerealty.com/

Florida Vacation Condo

Florida may be America's favorite vacation destination. There's the Disney World area, naturally, but even more appealing perhaps is the easy-living lifestyle in the sun that Florida offers. For the sports-minded, there are tennis, waterskiing, biking, boating, fishing, and golf, golf, golf.

For those with other pleasures on their mind, there are the beaches, the nightlife, and the shopping. Oh yeah, and the scenery is beautiful as well. Actually, it would be hard to list all the pleasures of Florida.

Now you can rent a vacation condo to make your Florida dreaming come true, directly from the owner. Renting a Florida vacation condo directly from the owner allows you to relax and enjoy your vacation in privacy, while taking advantage of fully equipped accommodations. Many of the locations are stunningly beautiful.

Avoid the cost of rental agent commissions, and choose from well over a hundred listings all over the state at Vacations by Owner. The site is easy to navigate--simply choose an area like Destin or Orlando and scroll through the listings. When you see a vacation rental you like, join Vacations by Owner and you'll gain the ability to contact the owner directly.

If you own a Florida vacation condo, list your property and you can join our exchange club and swap vacation homes with other members. For a very reasonable cost per year, you'll gain the opportunity to market your property to thousands of vacationers around the country. With our large user base, our listings get results--guaranteed!

Source : http://www.vacationsbyowner.com/

Ernie out of Florida condo investment

FRANKFORT, Ky. – Gov. Ernie Fletcher has withdrawn as an investor in two Florida condominium developments but has other real estate investments in the Sunshine State.

Fletcher announced the business deals Monday afternoon in a press conference at which he released his annual financial disclosure statement.

The Florida deals he withdrew from partnered him with former Kentucky Republican Party treasurer Dave Disponett of Lawrenceburg, Russell Springs building contractor Stephen Branscum, and University of Kentucky basketball coach Tubby Smith.

Fletcher said he had chosen investments outside Kentucky to avoid the appearance of conflicts of interest. However, the issue arose anyway because Branscum’s construction company has worked on state-funded projects to build courthouses and
schools.

That’s why Fletcher said he opted out of the deals.

“I don’t want any hint of impropriety, and believe me there was none,” Fletcher said Monday.

Fletcher’s investments were listed in the annual disclosure report filed with the state Executive Branch Ethics Commission on Monday. All executive branch officials are required to list businesses in which they own an interest of at least $10,000.

Missing from Fletcher’s statement this year were investments of $42,600 in Bluegrass Investors LLC and $55,000 in Sanctuary Investors LLC, both of Destin, Fla. Those were the businesses he divested from.

In the Monday press conference, Fletcher said he opted out of the ventures in June. He said he received “virtually” the same amount that he had invested in the project.

Since then, he has invested in three other Florida condominium developments, none of which, he said, involves anyone with ties to state government. The new condo investments were with Louisville native Larry Becker who is managing the projects.

Becker’s companies, as listed on the financial disclosure form, are EL Properties LLC of Destin, Fla., Jaguar Properties of Jackson, Tenn., and Exquisite Management Co. of Destin Fla.

Fletcher said the money he put into the investments – between $160,000 and $170,000 – came from the sale of two homes, one in Lexington and one in Washington.

“There should be no concern about even the perception of impropriety here at all,”
Fletcher said.

Records of the Kentucky Registry of Election Finance show that Branscum contributed $3,000 to Fletcher’s 2003 campaign for governor and $5,000 to Fletcher’s inaugural committee. Last year, Fletcher appointed Branscum to a seat on the UK board of trustees.

Disponett has contributed at least $13,000 to Kentucky Republican committees and candidates since 2002.

Becker’s name doesn’t appear in the list of contributors to the Fletcher gubernatorial campaign.

Source : http://frontier.cincinnati.com/

South Florida hotel taxes post healthy gains

Florida Hotel taxes showed healthy gains in September, suggesting a strong recovery from the summer of 2006 when hurricane memories were still fresh. Miami-Dade County and the Keys saw the biggest increase, with revenue up 8 percent in both destinations. Hotel taxes grew 4 percent in Broward.
In Miami-Dade, tax revenue hit $3.7 million, $614,000 in the Keys and $1.9 million in Broward. Hotels reported a particularly slow summer in 2006, thanks to lingering concerns over 2005's busy hurricane season.
Source:http://www.miamiherald.com

Before Buying Condo, Beware of the Developer's Right to Rent

Q: We recently bought a condominium unit in a new 50-unit complex. The developer will not tell us how many units have been sold, but we recently learned that it is starting to rent some of the unsold units. This seems unfair, especially because our contract states that we cannot rent our unit for at least one year after settlement. Can the developer rent those units?
A: A few years ago, prospective buyers were lining up at developers' doorsteps, clamoring to buy condo units. Many speculators entered the picture, hoping to make a killing by buying low and flipping to a third party even before the units were ready for sale. Others wanted to buy solely to be able to rent the units.
Many developers then started to impose rental and resale restrictions. The most common were requirements, built into the purchase and sales contract, that limited a buyer from renting the unit out for at least one year. Other provisions either prohibited a buyer from flipping the contract or made it so that if the buyer wanted to sell within a certain period, the developer had right of first refusal at the original purchase price.
Times changed. Now, developers are stuck with many unsold units, either because demand shrank or because contract buyers are just walking away from deals -- often forfeiting their earnest money deposit.
Developers argue that they are required to pay the condominium fees on these unsold units, and thus there is no harm to those who have already bought a unit. On the other hand, the current owners claim that this is unfair because it is often difficult to get good financing when there are too many renters in a condominium complex.
Source:http://www.washingtonpost.com/wp-dyn/content/article/2007/10/26/AR2007102600952.html