The Real Estate Mango

Archive for the 'Aventura Real Estate' Category

Beautiful Day In Aventura and Thoughts About How to Live, How to Sell, How to Enjoy Life

Snow and cold and wet is everywhere in the country, but today, here in Aventura, I am revelling in the soft air and bright sunshine.  Yesterday I baked a sweet potato bread and last week I baked a pumpkin bread and while they were in the oven, wafting great smells all over my house, I thought about the real estate situation here.

Why are properties taking months, even years to sell?  Why are banks leaving homeowners in limbo, not knowing if the foreclosure will be completed and they will be evicted?  Why are owners living in fear of the homeowners associations to which they owe thousands of dollars?

The reasons for the long time it takes to sell, is PRICE!  If people would start out asking the realistic price and not waste years getting there, properties would move a lot faster.  The problem lies with the sellers who cannot face the truth about values and with real estate agents who are too cowardly to tell them.

The banks are not facing reality, either.  They hate to take less than they paid out.  They hate to pay off the second mortgagor.  They, too, are dreaming of a better day. They also refuse to fix the interest rate to make it easier for the homeowners to pay the mortgages.

The homeowners and condo associations are in a terrible bind.  They need the monthly payments to keep the buildings serviced.  What to do?  Years are passing and debts are rising. They have to wait for a short sale, a foreclosure, or they cannot get paid.  Some buildings are changing the locks on the recreational facilities allowing only those owners who are current to use them.  Drastic measures in tough times.

But, let’s get back to the beautiful weather and swaying palm trees.  Let’s start today, doing what we do have control over….pricing our properties to sell so the engine of change can roll on.  When you have a home that the agent proves to you is worth $300k.  DO NOT ASK $400 hoping someone will make an exception in your case.  Be among the first in your area to ask the right price and see how it feels to be a success.

Then you can relax in the sun, plan your move to that home of your dreams and MOVE ON!!

 

 

 

BONAVISTA IN AVENTURA IS LOOKING GOOD!!

Ride over to Country Club Drive and see the beauitful improvements on the Bonavista Condo.  What a difference lush landscaping and modern lighting can make to an old building.

There are terrific improvements inside, as well as a new recreation room and renovated mail room on the lower level.

I have been told there will be new carpeting in all the hallways.  Fabulous elevators were installed not long ago.

When I see this, I see a smart condo board of directors looking for a way to keep up the property values.  After all, the location on Country Club Drive is gorgeous.  It faces the world class Turnberry Golf Course with jogger paths, bicycle paths and beautiful greenery everywhere. Maintenance fees are low for the area  and the location cannot be beat.Call me to see properties in Aventura.  The buys are incredible and this is a once in a lifetime chance to buy at rock bottom prices.

Monsoon in Aventura This Morning…..But I Have Updates On The Real Estate Market

 He is happy in Aventura on a sunny day!!!   He knows that living here is the best, that prices in Aventura are at a all time low and that values abound.  He knows you can live here and enjoy the parks, the Waterways Harbor, your boat, the restaurants.  He knows all that but do you?

In this blog, I will feature some of the properties that I think are unique to the Aventura area at prices you will love.

TURNBERRY VILLAGE…..3 BEDROOMS, 3 BATHS, ….$385K

                                                     MARINER VILLAGE….3 BEDROOMS, 3 BATHS….$347K

                                                      SOUTH TOWER AT THE POINT……2 BEDROOMS, 2 BATHS…..$399K

These are just samples of the wonderful values available in Aventura.  These condos are either on scenic Country Club Drive or Yacht Club Drive, with great amenities and location.

Check out my Property Search and call me today!

Beware the Ides Of March … Caution for Aventura Real Estate

What better time than today, the middle of March to give advice to homeowners in Aventura and elsewhere in south Florida.

• Advice for Buyers….Now is the best time to buy in a decade or more.   Interest rates are low but they will be rising soon.  All indications are that banks see a rise in the very near future
• Advice for Buyers…..PRICES ARE VERY LOW…THE LOWEST IN TEN YEARS…Take advantage of the terrific deals available.
• Advice for Sellers…. Your asking price should be very realistic and should be slightly below the last sale.  Prices are not going up.  They are still going down and when the foreclosures reach the market in a few months, prices will go even lower.
• Advice for Sellers….Dress your home for success.  Remove all unnecessary personal items.  Remove all unnecessary furniture and accessories that hide the true character and form of your home.  REMEMBER….buyers want to visualize themselves in the space.  They need to see the space
• Advice for Sellers…Live in the present.  Yesterday’s prices are just that.  They may not come back for many years.  They are best forgotten

If these rules are taken seriously, the market will move.  Sales will increase and the activity will give health and vitality to the real estate market place.

I have seen townhomes sell in one month when priced right in the Waterways in Aventura.  The townhomes that are overpriced have been on the market for a year or more with no activity. 

Take a look at the properties on my site and call today to see these great homes.

 

Analysis of Sales in Aventura….Regular Properties vs. Short Sales vs. Foreclosures

I have been studying the market in Aventura, very closely and there are some statistics that are interesting.  

The average price per square foot of  all properties in Aventura has been $205 per square foot.

When I look at the average price of foreclosures sold in Aventura, I see an average price per square foot of $ 137

The short  sales average out at $175 per square foot.

This is important because we can see that a normal sale does much better than either of the other two choices and that the buyers make different decisions when buying a property that is not distressed.

When the banks put a  property on the market after a foreclosure, they are offered at lower prices to affect a  quick sale but when the sellers are still holding title but are receiving lower price offers than their mortgages, the banks are able to sell at a better price than if they had already foreclosed.

So if short sales could only be expedited and the process streamlined, many of the homes that are “under water” can yield more decent prices.  The banks have to be able to see the advantage to doing this.  Sellers credit scores are affected by short sales for 3 years but they are affected by many more years by foreclosures

We have a variety of homes for sale in Aventura and as you can see, you have choiceskof REO, Short Sales and Regular Sales so get in touch with me today and check out the greatest values in the latest inventory.

Miami Herald Says Real Estate In South Florida Will Improve In 2010

I don’t always agree with the opinions of  the writers of the Miami Herald but after having seen the graphs in my office meeting, this morning, I agree.

We are seeing a steady decline in inventories and an uptick in buyers in the marketplace.

Why is this?  Prices, for one.  Prices have been lower than they have been in ten years and people who are really interested in buying can see that.  Condos and houses that were beyond reach are now very affordable. Government programs, like first time buyer tax credit, are very popular and many are buying to take advantage of this offer.

Townhouses in Aventura that were selling for $500 to $575 in 2005 are now selling for $350 to $375.  Condos in Aventura that were selling for $350k in 2005 are selling for $150.

The Miami Herald predicts a 1.5% increase in sales for 2010 which may not sound like much but before this we were seeing a minus 2.7 % loss each year.  Anything on the plus side is a win.

Latin American economies are doing well.  If tourism from Latin America picks up and from this influx, we can see more sales of properties, that will be a very good outcome.

The only dark note is the forthcoming foreclosures that have not come into the market, yet.  When they do, prices will dip, again but sales will be stimulated by the good prices and once this inventory is depleted, we can see some stabilization  in the market place.

The big message here, is that if you every thought of buying, now is the time.  Nothing stays the same.  The good deals will not last!  Waiting is not an option.  Look through this site for all the properties in Dade, Broward and Palm Beach counties and call me to go out shopping!!!

Five Great Deals In Atlantic I,II, III At The Point In Aventura

This is the exquisite development known as the Point of Aventura, five buildings with a world class spa, surrounded by the Intracoastal and fabulous amenities including swimming pools, and tennis courts.                                                                                                                                                                             

When I checked to see the Closed Sales in the Atlantic I,II,III buildings at the Point in Aventura, I saw some fabulous deals that I want to share with you.  The smart buyers who are taking advantage of the incredibly low prices of some of the most luxurious properties in Aventura are the lucky ones in this housing market.

 

 

 

 

1. Atlantic I at the Point  sq. feet 2733  list price $1,250,000  Sale Price $650,000
2. Atlantic I at the Point  sq. feet 3173  list price $799,900      Sale Price $625,000
3. Atlantic III at the Point  sq. feet 2440  list price $799,000  Sale Price $650,000
4. Atlantic III at the Point  sq. feet 2630  list price $749,000  Sale Price $658,429
5. Atlantic III at the Point  sq. feet 2440  list price $ 699,000 Sale Price $650,000

It is important to call to your attention that all, except the last property which was listed at $699k took a year or more to sell while the one priced at $699 sold in 52 days!  This is proof that the right asking price is key to a sale!!

Click my Home Search Button to see all the great deals still to be had!

Afraid You Will Never Sell? 4 Surefire Ways to Make a Sale in Aventura, FL

 Here are the guaranteed ways to get out of your home:

 

Price It Right!

Study those homes for sale that are similar to yours…see how your house compares…then price it below the lowest price of a home  that is similar to yours.  For instance,if you have a townhome in Aventura, four bedrooms, two bathrooms,2500 sq. ft. no waterfront the latest home sold at $490k.  That is a price you could ask.  If you decide to ask 100k more, you will be disappointed, no one will come and you will feel hopeless.

Clean It Up! 

Empty everything in the garage.  Clean the floor…paint it.  Take all extraneous things out of each room.  Wash the windows  Clean all kitchen counters. Bake cinnamon during a showing.  There are some excellent cleaning services available.  Squeaky Clean comes to mind 786 399 3950.  Carpeting cleaning services like Keenes Carpet Cleaning 305 545 8500. 

Dress It Up! 

Add some fresh flowers.  Put slipcovers on old sofas.  Make the beds with new covers. Call in a staging company.  They can make a huge difference for very little money. Hire a consultant and get one hours worth of advice.

Market It With An Expert Realtor!!  

Realtors with experience in all markets are important.  Hire one and take her advice!!

Homes in Aventura are beautiful but they have to be priced to sell in the market of 2009. 
Call me today for an opinion of value…

Great News For The Aventura Real Estate Market

The Florida Legislature passed $30.1 million for down payment assistance for those who qualify for the federal first-time homebuyers tax credit.  Beginning July 1, these first time buyers will be able to apply for down payment assistance in advance of closing and then repay the amount borrowed when they get their tax refund.

This is great stuff when you think of all the terrific buys there are in Aventura, both because of foreclosures and price reductions and large inventories.  First time homebuyers have a wealth of properties to choose from.  This may be the absolute best time to buy that home.

Call me for tips on great buys in Aventura.

Senator Charlie Crist?

Everything can’t be about real estate, right?  Or can it?  My major concern when Gov. Crist became governor was to see property taxes reduced in Florida, especially in south Florida where the enormous taxes are a deterent to many potential buyers.  Now that he has announced his plans to run for Congress, we will be faced with different choices for governor.  I hope whoever he or she is, will address the property tax issue, again, in our state.

Although taxes were reduced somewhat, they were not reduced to a point where owning a home in south Florida was comfortable for many people.  Aventura property taxes are high.  The cost of living in a home with the added cost of insurance makes it an expensive proposition.

Hopefully, the next time around, we will have property taxes reduced even further.  However, services and schools suffer when there isn’t enough revenue.  It’s my opinion that someday a state income tax should be considered.  It would give us a base for better schools, health facilities and help for the disadvantaged.