The City of Miami is looking to revamp its Coconut Grove waterfront by city hall, ending long-standing(1976) relationships with Grove Key Marina, Scotty’s Landing and Chart House restaurant, which combined paid the city last year just over $600,000 rent. The city
Is The Housing Market In Recovery? I hope you find this information helpful. Contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected].
Downtown Miami 2020 Video illustration of ten billion dollar boom coming to Downtown Miami by the year 2020. Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected].
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Real Estate Bidding Wars Are Back Pending-home sales in March hit their highest level since April 2010, spurring the return of real-estate bidding wars. Nick Timiraos reports on The News Hub. Please contact me for all your South Florida real
New Price Reductions in Coconut Grove Keep these recently reduced homes in mind while considering which home to buy as they are often the next properties to sell. During the past 14 days, 8 properties have had price revisions; 7 reductions and
Mirroring the uneven economic recovery, the housing market is expected to move in a slow, gradual upward path in 2012, while encountering its share of speed bumps along the road, according to economists participating in yesterday’s National Association of Home Builders (NAHB) construction forecast webinar on the housing and economic outlook.
While the latest monthly housing data have shown signs of a slight softening, NAHB Chief Economist David Crowe said this is more reflective of typical month-to-month volatility in the numbers and unusual seasonal factors than they are an indication of any significant downward trend in the broader housing market.
“The aggregate information suggests we’re just in a pause mode right now in terms of these measures,” said Crowe, who noted this could partly be the result of an early spring that brought much better weather than usual into the picture at the start of this year and pulled some housing activity forward.
Pointing out that less volatile quarterly data have continued to show modest improvement in key housing indicators such as builder sentiment, new-home sales and housing production, Crowe said the “housing outlook continues to slowly brighten.”
Crowe noted that numerous other fundamentals remain positive for housing at this time, including demographic factors (with pent-up household demand expected to ramp up and echo-boomers heading into their prime household formation ages), historically favorable mortgage rates that are not expected to move higher than 5 percent by the end of next year, more than 100 local markets currently listed on the NAHB/First American Improving Markets Index, and the fact that house price-to-income ratio has now returned to its historical average of about three-to-one versus the nearly five-to-one to which it had previously risen during the height of the housing boom.
However, he cautioned that housing still continues to face formidable challenges of its own such as rising foreclosures, persistently tight lending standards for homebuyers and builders and difficulties in obtaining accurate appraisals. Moreover, disappointing job growth numbers in March and uncertainty in the European economy are undermining prospects for a vigorous recovery.
“No one is anticipating that an upward path for housing will run in a straight-line trajectory,” said Crowe. “The economy is in an uneven recovery and
“A deficiency judgement is an unsecured money judgement against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full,” said Dania Fernandez, Esq. in her recent Resource Living article.
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Selling Gables by the Sea!
810 Lugo Avenue Last week, my team and I closed on our listing located at 810 Lugo Avenue. The property was listed at $2,400,000. This no bridge to the bay, waterfront home boasted features such as 4,284 square feet
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