South Florida home prices may rebound in 2011

South Florida Real Estate - Miami Condos for Sale

As we enter into 2011, South Florida real estate watchers are keeping an eye on the Florida housing market. Analysts predict that the market will “bottom out” nationally in 2011. Some forecasters believe we already have.

Zalewski showed CBS4’s Joan Murray a high rise where he says you can pick up Miami condos for sale for under $200,000. He believes east of 95, we’ve already hit bottom.

Full Article and Video.......South Florida home prices may rebound in 2011

Decline in home price index is good for buyers, not the economy

Home price index - Miami real estate

December 28th, 2010 -Robert Shiller talks about the decline in home prices in October on Bloomberg TV.

Contact MLR Realty at 305-673-3303 to speak with a Miami real estate agent regarding homes and condos for sale in Miami.

Luxury home for sale in Miami Beach, Biggest price cut

Luxury homes for sale in Miami Beach - Miami real estate

The Miami real estate property to see the biggest price cut this week was a luxury home for sale in Miami Beach.

The $2.495 million luxury home for sale in Miami Beach saw a $255,000, or 9 percent, price drop since it was originally placed on the market at $2.8 million in March. The price was last cut to $2.75 million in April.

Full Details...Luxury home for sale in Miami Beach, Biggest price cut

Pending Home Sales Rise October 2010

October Pending Home Sales - Miami Real Estate

According to a report released December 2nd by the National Association of Realtors, the number of pending home sales rose in October, showing a positive upward movement since bottoming in June. Based on contracts signed in October, the Pending Home Sales Index showed that sales rose 10.4 percent to 89.3 from September’s pending home sales.

There was a 0.4 percent increased for residential Miami real estate in October compared to pending home sales in September, according to the Miami Association of Realtors. Pending sales for Miami condos was up 0.7 percent to 5,878 for the month which was 34 percent higher than in October 2009.

Full Article....Pending Home Sales Rise October 2010

LaSalle to buy famous 'Miami Vice' tower

Miami Office Building - Miami Commercial Properties

A Chicago-based real estate investment giant is approaching a deal to buy the ‘Miami Vice’ tower. This iconic Miami office building, located at 100 S.E. 2nd Street, came to symbolize the city by being featured weekly in the opening of 1980s TV show “Miami Vice.”

In 2003, the current owner paid $85 million for the multi-tiered, 600,000-square-foot, high-rise in downtown Miami. The Miami commercial property however faces some challenges....

Full Article....LaSalle to buy famous 'Miami Vice' tower

Management picked for Royal Palm Hotel

The Royal Palm Hotel - Miami Commercial Real Estate

Sunstone Hotel Investors has selected Denihan Hospitality Group to manage The 407-unit Royal Palm Hotel at 1545 Collins Avenue in South Beach. This will be the first entry for the company in the Miami hotel market. The Miami commercial property was sold at auction this summer for $126.1 million and will undergo renovations aimed at a 2011 reopening. Denihan manages 14 properties in four cities under the James and Affinia brands.

Foreign buyers keep residential Miami real estate afloat

Foreign Buyers - Residential Miami real estate

The residential Miami real estate market continues to be driven by International buyers, particularly from Latin American countries like Brazil.

According to data from the Miami Association of Realtors, in October, pending home sales for single-family homes and Miami condominiums, increased 23.6 percent compared to October 2009. Last month there were 10,264 pending home sales, up from 8,304 in October 2009. Many of these residential Miami real estate sales were driven by foreign buyers, mainly from Brazil.

Full Article...Foreign buyers keep residential Miami real estate afloat

Miami Office Space – 3rd Quarter Statistics

Miami office space - Miami Commercial Real Estate

Vacancy rates for office space in cities have been rising throughout the United States and in South Florida. But the situation is especially serious for Miami because its downtown market needs to absorb 1.3 million square feet of new Miami office space. This comes at a time when businesses throughout the region and across the country have been contracting.

Full Article...Miami Office Space – 3rd Quarter Statistics

Fisher Island Condos – Biggest Price Cut

Fisher Island Condo - Miami Beach real estate

The Miami Beach real estate listing to see the biggest price cut this week is a Fisher Island condo. This three-bedroom, three-and-a-half-bathroom condominium was originally listed for $3.3 million when it hit the market in May.

Full Article...Fisher Island Condos – Biggest Price Cut

Merger creates largest U.S. realtor association

Miami Realtors - Miami Realtor Association

Joining with the Northwestern Association of Realtors (NDAR), the Miami Association of Realtors has completed its second merger in three months forming the largest local realtor association in the United States. The merger combines the Miami Association of Realtors' 23,500 members with NDAR's 500 members.

Full Article....Merger creates largest U.S. Realtor association

Land near downtown Miami Freedom Tower sold

Downtown Miami Condos - Miami Real Estate

The Miami real estate property located behind the landmark Freedom Tower, where developer Pedro Martin proposed building downtown Miami condos, has been purchased by a Hollywood investment group.

Martin, CEO of Terra Group, received city approval to build downtown Miami condos at the 63 story Freedom Square building. The proposal was controversial however because the Miami real estate condo tower would rise behind the 15-story Freedom Tower, which was an entryway to the U.S. for thousands of Cuban immigrants.

Full Article...Land near downtown Miami Freedom Tower sold

Tiger’s ex-wife checks out $4.5M penthouse

Miami Homes - Miami Real Estate News

According to the Palm Beach Post, Eli Nordegren, Tiger Woods' ex-wife was spotted looking at and falling in love with, a $4.5 million waterfront penthouse at the Claridge Jupiter Island condominium this weekend in Tequesta. The 3,600 square feet, four-bedroom, five-bathroom luxury condo includes outdoor space with views of both the Intracoastal Waterway and the Atlantic Ocean.

Full Article...Tiger’s ex-wife checks out $4.5M penthouse

Bank of America halts US foreclosure sales

Miami homes - Miami real estate news

On Friday, October 8, 2010, Bank of America announced it is stopping all foreclosure sales and proceedings in all 50 states, though it's unclear how this action will impact homeowners who are currently negotiating with their lender.

To see VIDEO click here.

In the video above, experts told CNBC that it's bad news for the housing market. The Charlotte based bank and the largest in the Country, decided to halt foreclosures after JPMorgan Chase and GMAC Mortgage's stopped foreclosures last week to examine what it has been shown to be a flawe d process for documenting and filing foreclosures.

The Heat’s Chris Bosh buys Miami Beach Home

Miami Beach Homes, Miami Real Estate

Following his joining Miami’s basketball team, Heat’s big man, Chris Bosh, has purchased one of the Miami Beach homes located on North Bay Road. The 12,000-square-foot mansion is just south of La Gorce Island and was purchased by Chris Bosh for $12.5 million. The seven-bedroom, eight-bathroom mansion was built in 2009 and sold for $12.5 million, $3.5 million less than the listing price.

Full Article...The Heat’s Chris Bosh buys Miami Beach Home

Miami Realtors believe US home prices are dropping

Miami Realtors believe US home prices are dropping, Miami real estate

According to a third-quarter survey from home price tracking website HomeGain.com, real estate professionals, homeowners and Miami Realtors alike have taken a negative view about the U.S. housing market. The survey, which interview roughly 1,100 real estate professionals and 2,600 homeowners, discovered that 90 percent of real estate agents and brokers believe now that home prices will remain flat or will experience a decline over the next six months.

Full Article...Realtors believe US home prices are dropping