Miami, Fort Lauderdale and Palm Beach Home Sales Rises Again

We did it again....  Luxury Home Sales risen in August/September 2019 Period, The number of Luxury Homes listed for One Million and up ($ 1 Million USD), and this increased we ought to New Yorkers moving down South, with High Taxes and Regulations in New York, New Jersey and Connecticut more northern home buyers are moving to South Florida, where there is no state income tax and it’s cheaper to buy and maintain a home, according to 2019 JTHS-MIAMI President Kim Price.

 

Palm Beach single-family home sales decreased 0.6%, from 1,576 to 1,566. Palm Beach condo sales decreased 4.8%, from 1,198 to 1,141.

 

A new condo approval process could increase sales in the future. The new guidance, which goes into effect in mid-October, extends certifications from two years to three, allows for single-unit mortgage approvals, provides more flexibility with owner/occupancy ratios, and increases the allowable number of FHA loans in a single project. The changes, many of which MIAMI and NAR has championed, should yield thousands of new homeownership opportunities.

 

Single-family home dollar volume increased 1.5%, from $789.7 million to $801.7 million. Condo dollar volume increased 12.3%, from $326.2 million to $366.2 million.

 

According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 3.62% in August, down from 3.77% in July. The average commitment rate across all of 2018 was 4.54%.

 

Palm Beach Single-Family Home Median Prices Continue Rising Palm Beach County single-family home prices increased 4.4%, from $340,000 to $355,000. Existing condo prices decreased 1.4%, from $185,000 to $182,500.

 

Palm Beach Distressed Sales Comprise Just 3.0% of Total Sales Only 3.0% of all closed residential sales in Palm Beach were distressed in August 2019, including REO (bank-owned properties) and short sales, compared to 2.9% in August 2018.

 

Total Palm Beach distressed sales decreased 1.2% year-over-year, from 83 to 82.

 

Short sales and REOs accounted for 0.5% and 2.5%, respectively, of total Palm Beach sales in August 2019. Short sale transactions decreased 35% percent, from 20 to 13. REOs increased 9.5%, from 63 to 69.

 

Nationally, distressed sales represented 2% of sales in August, unchanged from July, but down from 3% in August 2018.

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Fort Lauderdale Evolution Maturing to Trendy Luxury Hot Spot

Renderings of 100 Las Olas, the Four Seasons Private Residences Fort Lauderdale and Icon Las Olas

Downtown Fort Lauderdale and beaches mature from spring break mecca to luxury hot spot

By Francisco Alvarado | July 17, 2017 03:05PM
The Real Deal

Fort Lauderdale native Bob Swindell remembers the days when retailers and restaurant owners in downtown and the nearby beaches would shut down by 6 p.m. and stores would close up for the summer. “Things would get really quiet,” Swindell said.

The only real action the neighborhood experienced was during Fort Lauderdale’s vaunted spring break era, from the late 1960s to early 1990s, when hordes of college students turned downtown and the beaches into party central. The negative publicity eventually led city leaders to curtail Fort Lauderdale’s image as the raunchy resort town for a more subdued reputation as Broward County’s corporate epicenter that counted a daily newspaper, the Sun-Sentinel, as an anchor tenant.

Now, Fort Lauderdale’s downtown and beaches are going through another evolution that is transforming the neighborhood into an international destination, according to Swindell, who grew up to become president of the Greater Fort Lauderdale Alliance. “The fabric is really changing,” he said. “There is a lot of high-rise and mid-rise residential development that is leading to an influx of residents. It has created a great environment.”

Dan Teixeira, sales director for the Four Seasons Private Residences Fort Lauderdale, says the Las Olas Beach area went from drawing drunk spring breakers to attracting foreign real estate investors who are now flying into the city as a result of Fort Lauderdale International Airport adding international flights in recent years.

“At Four Seasons, we have many buyers from Europe, South America and the Middle East,” Teixeira said. “Fort Lauderdale is becoming a casual, yet sophisticated oceanfront community.”

Full Article  https://therealdeal.com/miami/2017/07/17/neighborhood-dive-downtown-fort-lauderdale-beaches-transform-from-spring-break-mecca-to-luxury-destination/

Analou Manent - Miami and South Florida Real Estate Specialist
Agent Immobilier Miami, Floride

Brazilians Find New Home in Miami

Brazilians are spending more money in the U.S. than ever…and Miami is benefitting big.
by James McClister February 17, 2015


A port of indulgence for Brazil’s elite, Miami has catered to South American investors for decades, helping them funnel huge sums into lavish, coastal condominiums. But now, following the recent reelection of Brazilian President Dilma Roussef, a number of the country’s biggest spenders are looking to increase their overseas holdings, and Miami is benefitting in a big way.
In a recent interview with The Wall Street Journal, Alyce Robertson, executive director of the Miami Downtown Development Authority, affirmed the impact Roussef’s reelection is having on South Florida.
“After the last election, we were talking to a lot of people concerned about getting their capital out of Brazil,” she said, adding that the exodus was largely a response to politics.

Brazilians Flee

With specific data unavailable, it’s difficult to quantify the recent influx of Brazilian investment. But throughout South Florida, developers, agents, bankers and a slew of other industry insiders are abuzz with talk of Brazil.
They speak of a swelling of Brazilian capital, aimed not just at property investments, but an increase in more prolonged and involved ventures, such as setting up businesses and obtaining residency and later citizenship for themselves and their families.
Genilde Guerra, an attorney at Kravitz & Guerra, told the Journal that Brazilian clients are mainly “concerned about the instability of Brazil’s political environment.
“They don’t want to be the last one’s to leave,” she said.

For complete article click here

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Beautiful Waterfront Home in Fort Lauderdale

Beautiful Waterfront Home with Ocean Access - $725,000 Great Opportunity in Pompano Beach View the Virtual Tour Great opportunity to own a Beautiful Home on the water with ocean access... Very nice single family home of 3,000 sf, 5 bedrooms, 3 baths, fully renovated kitchen (brand new), on large lot, deep heated pool, 2 car garage. Great neighborhood: very safe with all amenities nearby. Boat lift, large deck with 70 feet on water, not overlooked. Great deal... Heated Pool Oversized Lot New Boat Lift Great Neighborhood Fully Renovated Kitchen Open Floorplan Large Deck 2 Car Garage MLS: A1896803 Sq Ft: 2,978 Yr Built: 1978 Bdrms: 5 Baths: 3 Pool: Yes - Private Parking: 2 Car Garage Asking: $725,000   1301 SE 9th Avenue Pompano Beach, FL 33060 Property Map Analou Manent 754-245-7501 Contact Agent www.florida-prestige.com Lic#: 3164788 Sunny International Realty 17070 Collins Avenue Suite# 256 Sunny Isles, FL33160 305-948-3063

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Regalia - Limited Edition Living

ONE ACRE OF OCEAN FRONT

• Regalia’s landscape is an expression of its seaside location as it captures the rhythm and form of the beach in long sweeping curves parallel to the shore.
• The beach forms a scenic and natural boundary to the pool deck overlooking the ocean.

STEPS TO THE BEACH

• Regalia’s tropical pool deck merges effortlessly into the broad beach washed by blue-green ocean waters.
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SERENE SPACE TO REJUVENATE

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• State-of-the-art fitness facilities, couples’ sauna and individual treatment rooms complete the environment.
• A menu of private spa services, either within the spa or in the privacy of your home, is offered to residents.
• Regalia’s concierge will assist with arrangements for services tailored to fit your needs.

By Analou Manent - Real Estate Agent Miami