PROPERTIES

Exclusive Listings

Today's Update

100 Latest Sales
in Miami Beach

100 Newest Listings
in Miami Beach

Today’s Miami Real Estate News

NEWSLETTER

View Privacy Policy

JOSH'S BLOG

An inside look at the
Miami RE market.

Exclusive hi-def photo
and video tours

Read Josh's Blog

JOSH in the News

See our most recent media coverage.

Home | Meet Josh | Contact | Resources

The 100 latest sales in Miami Beach

Josh Stein 305.695.8257

The Real Deal South Florida - Latest News

The Real Deal - South Florida Real Estate News

03/11/2010 12:30 PM

Biggest price cut of the day

241 Harbor Drive

The South Florida home to see the biggest price cut today is a six-bedroom, eight-bathroom house at 5301 N. Bay Road in Miami Beach, according to data from Condo Vultures Realty. The $11.9 million Miami-Dade County home saw a $2.2 million, or 16 percent, price cut. It was originally listed for $14.1 million when it hit the market in August 2009. The waterfront home has unobstructed views of Biscayne Bay and sits on a 12,680-sqaure-foot lot with a pool. Kent Karlock of Real Estate Portfolio has the listing.(Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD

03/11/2010 11:30 AM

Another court victory for Related's planned Fort Lauderdale Icon condo

The Related Group's planned Icon condominium, on the lot adjacent to the historic Stranahan House in downtown Fort Lauderdale, won another victory yesterday when a judge ruled in favor of the developers and against supporters of a proposed park next to the two-story cottage, which was built in 1901. The park's supporters said the Icon, which is slated for the 500 block of East Las Olas Boulevard, does not meet city codes and should not have been approved by the city. The battle over the lot has been ongoing for 10 years, and this is the latest ruling in favor of Related and its partner in the project, Coolidge-South Markets Equities. The Stranahan group has the option to appeal the ruling.

03/11/2010 10:30 AM

Angry over water bills, Fort Lauderdale man burns down his own home

A Fort Lauderdale man who'd had enough of what he believed were overpriced water bills set his mobile home on fire yesterday after dousing it with gasoline, police said. The home, which was located in the 1300 block of Southwest 21st Terrace quickly exploded, but neighboring homes were not damaged, according to the city's fire department. The man, Johnny Dossey, has been charged with arson.

03/11/2010 09:30 AM

National Market Report

An environmental group hopes to protect the area surrounding Los Angeles’ famous Hollywood sign from development.

From the New York March issue: An environmental group is in a race against the clock to block the possible development of 138 acres surrounding the famous Hollywood sign in Los Angeles. While the sign is reportedly protected from demolition, a group of Chicago-based investors owns the surrounding area and had planned to build luxury mansions there, according to Desert Sun Wire Services. While the investors originally planned to sell the land to developers for $22 million, they told the Trust for Public Land that they would sell the space to the trust for $12.5 million. So far the organization has accumulated about $7 million, with the Los Angeles Public Works and Recreation and Parks departments contributing more than $3.5 million to help the cause. Private donors are expected to provide the rest. The offer expires April 14. Click here for more updates from around the country. Compiled by Amy Tennery

03/11/2010 08:30 AM

Downturn hurts South Florida golf courses

Local golf courses are offering big discounts as revenues have fallen sharply. The Sawgrass Mariott Resort, a PGA tournament site in Ponte Vedra Beach filed for Chapter 11 last week, although its golf course did not. While memberships have largely remained stable, the Ironhorse Country Club in West Palm Beach filed for bankruptcy in January. National revenues for courses fell 3.8 percent from 2008 to 2009. At Palm Beach's public courses, revenue went down six percent in the same time period. Local courses, private and public, are offering incentives to golfers to play more in the form of discount cards and reduced greens fees. [Miami Herald]

03/11/2010 08:00 AM

State asks Washington to help families with Chinese drywall

Florida families hurt by Chinese drywall should receive financial aid, interim director of the state's Department of Emergency Management, David Halstead, wrote to Washington yesterday. Halstead wrote the letter to officials at the Federal Emergency Management Agency at the urging of Governor Charlie Crist, who has expressed concern over the broad and potentially more widespread risks associated with drywall from China. The letter asked federal officials to consider alternative modes of compensation. Broward, Miami-Dade and Palm Beach counties are three of the four highest counties in number of Florida Department of Health drywall cases. According to the letter, Halstead asked the government to conduct a preliminary damage assessment related to these problems, and warned that there could be far more families affected than previously anticipated. [Sun-Sentinel]

03/11/2010 07:30 AM

Royal Poinciana controversy heats up

A plan to develop condominium units at the site of the now-shuttered Royal Poinciana Playhouse has turned ugly with allegations of a threatening email sent to Town Council President David Rosow by a town resident critical of the plan. The email was sent by Palm Beach resident Lowell Levine, who has been campaigning to remove Sterling Palm Beach, the project developer, which has itself applied to withdraw after being cited by the town for peeling paint, rotten wood and other violations which it subsequently corrected. [Palm Beach Daily News]

03/11/2010 07:00 AM

Miami-Dade condo sales rise 61 percent

The number of condominium sales in Miami-Dade went up 10.2 percent from January to February of 2010. The 9,164 total pending sales in the county marks a nine percent rise over the previous month. For the year, condo sales rose 87 percent. The increase was buoyed by a growing number of homes under $250,000. January was the 17th consecutive month to show year-over-year improvement in existing home sales. TRD

03/11/2010 06:30 AM

Shore Club faces foreclosure action

Not even the hotels are safe from foreclosure in Miami. A foreclosure action was filed last week against Philips South Beach, owner of the Shore Club on Collins Avenue. The 309-unit hotel has been facing the prospect for several months after first being delinquent on its mortgage in October. Bookings had already fallen 40 percent in the spring and summer of 2009. The plaintiff is Collins Lodging, which represents a commercial mortgage-backed security serviced by LNR Partners, a Miami Beach property investment firm. It is one of three Morgans Hotel Group properties in Miami, along with the Mondrian and the Delano, although Morgans was not named as a defendant in the suit, which was filed in Miami-Dade County Circuit Court. [SFBJ]

03/11/2010 06:00 AM

State investigates residential insurer...and more

1. Miami to be ground zero for falling prices [Housing Predictor via Locate Your Nest ]
2. New site makes foreclosure auctions easy [Palm Beach Post]
3. State investigates residential insurer for overexposure, fees [Sun-Sentinel]
4. Oft-appointed receiver pleads guilty [Mami Herald]
5. Boca Raton rebrands to increase tourism [WPBF]
6. Experts discuss Miami revival [Miami Herald]
7. Fight to keep spring training in Florida [Foxnews.com]
8. Homes of the world's richest people in pictures [Forbes]

03/10/2010 09:01 PM

PBC sees 60% surge in foreclosure filings

Palm Beach County saw a 63 percent surge in foreclosure filings last month compared to a month earlier, according to national real estate foreclosure tracking company RealtyTrac's monthly foreclosure market report released today (see report after the jump). Its 4,490 filings gave it a ninth-place ranking statewide. Foreclosure filings in Miami-Dade County jumped 44 percent to 6,671. By rate of foreclosure filings, Broward County ranked third in Florida behind Lee and St. Lucie counties with 7,872 filings in February, a 3 percent month-over-month rise. Statewide, foreclosure filings -- default notices, scheduled auctions and bank repossessions -- rose nearly 15 percent in February, wiping out January's welcome declines and signaling that a rocky road still lies ahead for struggling homeowners in the region, the data show. One in every 163 Florida homeowners, or 54,032, received a foreclosure filing last month, up 14.79 percent from January, the report says, putting the state at third in the nation in terms of foreclosure rates, behind Nevada and -- just barely -- Arizona. Bleak as the numbers may be, the statewide surge in February likely reflects a prolonged pattern of "peaks and valleys" rather than of a general worsening of the housing crisis, said Daren Blomquist, a spokesperson for RealtyTrac.

03/10/2010 05:15 PM

South Florida residential market won't rebound until 2030

The South Florida residential real estate market will not rebound to previous highs until 2030, according to a Moody’s Economy.com prediction. The forecast made something of a stir when it appeared deep in an article on community development districts in Business Week Monday (see chart on the forecast after the jump). While Moody’s Economy.com was under a contractual obligation not to release the specific data it had supplied to Bloomberg, it provided The Real Deal with data that supported a reasonably similar forecast -- a peak to trough price trajectory that tells of a long road ahead for Florida real estate.

03/10/2010 02:30 PM

Biggest price cut of the day

241 Harbor Drive

The South Florida home to see the biggest price cut today is a four-bedroom, four-bathroom house at 241 Harbor Drive in Key Biscayne, according to data from Condo Vultures Realty. The $1.995 million Miami-Dade County home saw a $305,000, or 13 percent, price cut off its last asking price of $2.3 million. It was originally listed for $2.95 million when it hit the market in March 2009, before the last price cut in August 2009. The remodeled home, which was designed by Wilfredo Borroto, sits on a 7,500-square-foot lot and has a pool, bar, library and rooftop terrace with views of the Miami skyline. Monica Luzarraga of BLB Realty has the listing.(Condo Vultures data includes condos and single-family home listings in the main metropolitan areas of Miami, Fort Lauderdale, West Palm Beach and Key West that are priced at $1 million and above, and that include photographs. Listings are taken from the South Florida MLS.) TRD

03/10/2010 01:30 PM

Foreclosure prevention initiative dissected

The latest foreclosure prevention initiative unveiled by the Obama administration may have some homeowners scratching their heads. The Home Affordable Foreclosure Alternatives initiative is not a home loss prevention program but, rather, a way of facilitating short sales to eschew the foreclosure path. The program is, as Today Show financial editor Jean Chatzky explains in this video, “for people who’ve tried to get a loan modification, but haven’t been able to or didn’t succeed… Essentially it’s offering a formulaic short sale.”

03/10/2010 12:30 PM

Refinancing loses market share as purchasing activity rises

Mortgage loan application volume rose nationwide for the second week in a row, thanks in large part to an increase in purchase applications, according to data from the Mortgage Bankers Association for the week that ended March 5. Purchase applications were up 5.7 percent over the week earlier, while refinancing applications declined by 1.5 percent, bringing overall application volume up by 0.5 percent. Refinancing activity took its lowest share of the market since October 2009, accounting for 67.2 percent of all applications and meanwhile, adjustable rate mortgages accounted for 5.1 percent, their highest share since November 2009. Average interest rates on 30-year fixed-rate mortgages rose to 5.01 percent from 4.95 percent, and on 15-year fixed-rate mortgages, rose to 4.32 percent from 4.27 percent one week ago. TRD

SITE MAP Google Sitemap
back to top
Joshsteinrealtor.com:
Art Deco:
Luxury Homes:
Lofts:
Penthouses:
- 10 Featured Penthouses
Rentals:
Luxury Condos:
- Digital Network

The Real Deal South Florida - Latest News

The Real Deal - South Florida Real Estate News

Joshsteinrealtor.com:

Art Deco:

Luxury Homes:

Lofts:

Penthouses:

Rentals:

Luxury Condos:

Digital Network