According to statistics compiled by Condo Vultures Realty, active listings in South Florida are reducing at a moderate rate since January of 2009. The pending sales seem to be rising to over 20,000 units in March 2011 compared to pending sales of about 10,000 in January of 2009.
This is a good sign. As long as we see a steady closing of the gap between active properties on the market and pending sales going off the market, we will begin to see a revival of prices.
On a lighter note, there is a new hotel by the Sole group in SUNNY ISLES. The name is Sole On the Ocean and it overlooks t he Atlantic and Intracoastal. Best of all, the room rates are moderate and each of the 249 rooms has a view of the Ocean and side of the Intracoastal.
The hotel offers free cocktails every Thursday from 5 to 6:30 so check it out.
It is important to have a hotel in Sunny Isles to add to the tourism and support the restaurants and businesses along Collins Avenue.
Many years have passed since we had more than residential buildings along the beach. We need more of this type of development to keep Sunny Isles exciting.
Remember, contact me to see the terrific properties on the market. Buy now, while interest rates are still low!!