Bradley E. Arnowitz, P.A. was responsible for the following transactions:
*Reinhartz Family Limited Partnership, a 30-year-old medical business, has purchased .75 acres of land located at 18802 W. Dixie Highway, Aventura, FL to build its corporate headquarters. Co-broker representing the seller was Hellen Weisman.
*Simes Family Limited Partnership, has leased its ultra-luxury tower residence located at The Diplomat Residences, 3535 South Ocean Drive, Hollywood, FL 33019. Co-broker representing lessee was Jorge Blanchard.
*Canyon Ranch Developer, WSG has entrusted Arnowitz & Associates with the sales and marketing of several ultra-luxury, residential units, located in the North Tower of the project.
Arnowitz & Associates of Re/Max Beach Properties is a full-service firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties. Bradley E. Arnowitz, P.A. has been serving South Florida with Honesty, Integrity, & Results since 2001.
For more information, visit Arnowitz & Associates on the web at www.ArnowitzProperties.com or contact the firm at Re/Max Beach Properties, 1355 Alton Road, Miami Beach, FL 33139 or Re/Max Beach Properties, 672 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009, 305.776.6113.
Friday, June 29, 2007
Wednesday, June 27, 2007
NAMING OUR NEW BABY!! CANY YOU HELP?
I am proud to introduce the first project of its kind in Aventura. A mixed use Development Project that will include Medical Suites, Professional-Class A Office Space, Town Homes, and Live/Work Lofts! Located on West Dixie Highway between Ives Diary Road and Miami Gardens Drive, next to the newly expanded School.
This project will be a place to Live, Work, Love, & Play! And, this baby needs a name. Can you help? Please send me some suggestions. Below you will find a rough copy of a soon to be released marketing piece. All we need is the Name.... Send me your thoughts @ Brad@ArnowitzProperties.com
Whether you are interested in properties to shelter your own business, building for resale or long term rental, unique commercial, retail, and residential opportunities exist in our project. An investment in a Live/Work or other commercial property can provide capital appreciation, long term rental income and investment diversification.
Our Live/Work sites will be state of the art, TRUE-LOFTS! Stainless Chef Stle kitchens, wine storage, granite counter tops, crown molding, wood, carpeting and marble. A complete turn-key package. Including private zen type gardens with oversized work areas.
To maintain pedestrian continuity required by commercial establishments, private and public parking will be assessable utilizing our state of the art parking system/garage that services the building. Living areas can be utilized by the owner or rented out to generate add income. The Live/Work properties will vary in size from about 750 sq. ft. to over 2000 sq. ft. on each level. These unique properties will be located on the top floors of our new project.
Over 20,000 square feet of additional commercial sites (some of which will front West Dixie Highway) will be suitable for medical professionals, retail shoppes, and professional class A office space. A mixed use buisness center is planned for the building.
This unique project will provide everyday vital services to the community and serve as a gathering place to the residents of the adjacent neighborhoods, and will support business establishments located there.
Our new project is a Smart Place to Invest, primarily because it’s a great place to live, work, love, and play!
Arnowitz & Associates of Re/Max Beach Properties is a full-service firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.
Bradley E. Arnowitz, P.A. has been serving South Florida with Honesty, Integrity, & Results since 2001.
For more information, visit Arnowitz & Associates on the web at http://www.arnowitzproperties.com/ or contact the firm at Re/Max Beach Properties, 1355 Alton Road, Miami Beach, FL 33139 or Re/Max Beach Properties, 672 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009, 305.776.6113.
This project will be a place to Live, Work, Love, & Play! And, this baby needs a name. Can you help? Please send me some suggestions. Below you will find a rough copy of a soon to be released marketing piece. All we need is the Name.... Send me your thoughts @ Brad@ArnowitzProperties.com
Whether you are interested in properties to shelter your own business, building for resale or long term rental, unique commercial, retail, and residential opportunities exist in our project. An investment in a Live/Work or other commercial property can provide capital appreciation, long term rental income and investment diversification.
Our Live/Work sites will be state of the art, TRUE-LOFTS! Stainless Chef Stle kitchens, wine storage, granite counter tops, crown molding, wood, carpeting and marble. A complete turn-key package. Including private zen type gardens with oversized work areas.
To maintain pedestrian continuity required by commercial establishments, private and public parking will be assessable utilizing our state of the art parking system/garage that services the building. Living areas can be utilized by the owner or rented out to generate add income. The Live/Work properties will vary in size from about 750 sq. ft. to over 2000 sq. ft. on each level. These unique properties will be located on the top floors of our new project.
Over 20,000 square feet of additional commercial sites (some of which will front West Dixie Highway) will be suitable for medical professionals, retail shoppes, and professional class A office space. A mixed use buisness center is planned for the building.
This unique project will provide everyday vital services to the community and serve as a gathering place to the residents of the adjacent neighborhoods, and will support business establishments located there.
Our new project is a Smart Place to Invest, primarily because it’s a great place to live, work, love, and play!
Arnowitz & Associates of Re/Max Beach Properties is a full-service firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.
Bradley E. Arnowitz, P.A. has been serving South Florida with Honesty, Integrity, & Results since 2001.
For more information, visit Arnowitz & Associates on the web at http://www.arnowitzproperties.com/ or contact the firm at Re/Max Beach Properties, 1355 Alton Road, Miami Beach, FL 33139 or Re/Max Beach Properties, 672 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009, 305.776.6113.
Saturday, June 16, 2007
Legislators approve $31.6B property tax plan
Good News For Florida Home Owners!
The Florida Legislature Thursday backed a property-tax reform package that is expected to save Florida taxpayers $31.6 billion over the next five years.
The first part, a $16 billion plan that would go before voters in a special election Jan. 29, involves replacing the Save our Homes limit of 3 percent property assessment growth with a new "super exemption." The second part, pegged at $15.6 billion, requires all cities and counties to roll back tax rates for the 2007-08 fiscal year to the previous year's levels.
Gov. Charlie Crist says in a prepared statement this decision will help property taxes "drop like a rock."
"I congratulate Senate President Ken Pruitt and House Speaker Marco Rubio and the many other legislators who have worked tirelessly to build consensus among the members of the Legislature and deliver the largest tax cut in Florida history," Crist says. "By lowering property insurance rates and cutting property taxes, we will create a better bottom line for Floridians and for Florida."
According to details of the plan, the super exemption will give homesteaded properties a 75-percent exemption of the first $200,000 in value of a home with a minimum exemption of $50,000 per homestead. In addition, properties eligible for homestead exemption will obtain another 15 percent exemption for the next $300,000 in value.
That plan also will grandfather the tax savings and assessment cap for the smaller number of property owners who receive a bigger break under "Save Our Homes," as well as preserve all existing exemptions now provided to disabled veterans, low income seniors and agricultural lands. The Legislature also says it intends to "hold schools harmless" from the cut in school funding they will get from municipalities, who will are expected to receive reduced revenues through this plan.
Meanwhile, the rollback plan, which would not require voters approval, says local governments also have to make additional cuts of 3, 5, 7 or 9 percent, determined by a formula that measures each municipalities' taxing performance over the past five years against a statewide average. Special taxing districts and "fiscally limited" cities and counties will be held to the 3 percent additional cut.
The plan also caps future property tax revenues based on the rate of personal income growth and new construction, to ensure government cannot grow faster than personal income.
Visit us on the web @ www.ArnowitzProperties.com
The Florida Legislature Thursday backed a property-tax reform package that is expected to save Florida taxpayers $31.6 billion over the next five years.
The first part, a $16 billion plan that would go before voters in a special election Jan. 29, involves replacing the Save our Homes limit of 3 percent property assessment growth with a new "super exemption." The second part, pegged at $15.6 billion, requires all cities and counties to roll back tax rates for the 2007-08 fiscal year to the previous year's levels.
Gov. Charlie Crist says in a prepared statement this decision will help property taxes "drop like a rock."
"I congratulate Senate President Ken Pruitt and House Speaker Marco Rubio and the many other legislators who have worked tirelessly to build consensus among the members of the Legislature and deliver the largest tax cut in Florida history," Crist says. "By lowering property insurance rates and cutting property taxes, we will create a better bottom line for Floridians and for Florida."
According to details of the plan, the super exemption will give homesteaded properties a 75-percent exemption of the first $200,000 in value of a home with a minimum exemption of $50,000 per homestead. In addition, properties eligible for homestead exemption will obtain another 15 percent exemption for the next $300,000 in value.
That plan also will grandfather the tax savings and assessment cap for the smaller number of property owners who receive a bigger break under "Save Our Homes," as well as preserve all existing exemptions now provided to disabled veterans, low income seniors and agricultural lands. The Legislature also says it intends to "hold schools harmless" from the cut in school funding they will get from municipalities, who will are expected to receive reduced revenues through this plan.
Meanwhile, the rollback plan, which would not require voters approval, says local governments also have to make additional cuts of 3, 5, 7 or 9 percent, determined by a formula that measures each municipalities' taxing performance over the past five years against a statewide average. Special taxing districts and "fiscally limited" cities and counties will be held to the 3 percent additional cut.
The plan also caps future property tax revenues based on the rate of personal income growth and new construction, to ensure government cannot grow faster than personal income.
Visit us on the web @ www.ArnowitzProperties.com
Friday, June 8, 2007
From National Association of Realtors
NAR: Home stagnant in short run, up by year’s end
WASHINGTON – June 7, 2007 – Home sales are projected to move in a relatively narrow range with a gradual upturn becoming more pronounced by the end of the year, according to the latest forecast by the National Association of Realtors® (NAR).
“Overall housing levels are historically strong, but sales remain sluggish compared to the recent boom,” says Lawrence Yun, NAR senior economist. “Home sales will probably fluctuate in a narrow range in the short run, but gradually trend upward with improving activity by the end of the year. It’s important to keep in mind that all real estate is local, and many markets are expected to have higher sales and strengthening prices during the second half of this year.”
Existing-home sales are projected to total 6.18 million in 2007 and 6.41 million next year, in contrast with 6.48 million in 2006. New-home sales are forecast at 860,000 this year and 901,000 in 2008, down from 1.05 million last year. Housing starts are likely to total 1.43 million units in 2007 and 1.49 million next year, below the 1.80 million recorded in 2006.
The national median existing-home price should ease by 1.3 percent to $219,100 in 2007 before rising 1.7 percent next year. The median new-home price will probably fall 2.3 percent to $240,800 this year, and then grow by 2.6 percent in 2008.
“We continue to experience a temporary distortion in comparing median existing-home prices,” Yun says. “Because the sales volume has shifted from many high-cost areas to moderately priced markets, we’re not getting a true apples-to-apples comparison. When you look at other measures, such as this week’s price index from Freddie Mac, which is based on repeat sales, overall home prices are rising slowly.”
Yun says that buyers today need to have a traditional view of housing “as a long-term investment that is an added benefit to their shelter expense. If so, that investment generally will build a nice nest egg over time, especially if they use a traditional mortgage instrument that reduces debt,” Yun says.
The 30-year fixed-rate mortgage is likely to increase to 6.6 percent in the third quarter and then hover at that level through 2008.
“Because of reductions in home sales and new home construction, the economy will expand at a subpar pace in 2007,” Yun says. “As housing market conditions improve going into 2008, the economy will reach back to its growth potential next year.” Growth in the U.S. gross domestic product is estimated at 2.0 percent this year, lower than the 3.3 percent growth in 2006. Yun forecasts GDP to grow 3.0 percent in 2008.
The unemployment rate is projected to average 4.6 percent in 2007, unchanged from last year. Inflation, as measured by the Consumer Price Index, is expected to decline to 2.5 percent this year, down from 3.2 percent in 2006. Inflation-adjusted disposable personal income is likely to rise 2.8 percent this year, compared with a 2.6 percent increase in 2006.
© 2007 FLORIDA ASSOCIATION OF REALTORS
Visit us on the web. www.ArnowitzProperties.com
Arnowitz & Associates. Taking Over The Market, One Property At A Time....
WASHINGTON – June 7, 2007 – Home sales are projected to move in a relatively narrow range with a gradual upturn becoming more pronounced by the end of the year, according to the latest forecast by the National Association of Realtors® (NAR).
“Overall housing levels are historically strong, but sales remain sluggish compared to the recent boom,” says Lawrence Yun, NAR senior economist. “Home sales will probably fluctuate in a narrow range in the short run, but gradually trend upward with improving activity by the end of the year. It’s important to keep in mind that all real estate is local, and many markets are expected to have higher sales and strengthening prices during the second half of this year.”
Existing-home sales are projected to total 6.18 million in 2007 and 6.41 million next year, in contrast with 6.48 million in 2006. New-home sales are forecast at 860,000 this year and 901,000 in 2008, down from 1.05 million last year. Housing starts are likely to total 1.43 million units in 2007 and 1.49 million next year, below the 1.80 million recorded in 2006.
The national median existing-home price should ease by 1.3 percent to $219,100 in 2007 before rising 1.7 percent next year. The median new-home price will probably fall 2.3 percent to $240,800 this year, and then grow by 2.6 percent in 2008.
“We continue to experience a temporary distortion in comparing median existing-home prices,” Yun says. “Because the sales volume has shifted from many high-cost areas to moderately priced markets, we’re not getting a true apples-to-apples comparison. When you look at other measures, such as this week’s price index from Freddie Mac, which is based on repeat sales, overall home prices are rising slowly.”
Yun says that buyers today need to have a traditional view of housing “as a long-term investment that is an added benefit to their shelter expense. If so, that investment generally will build a nice nest egg over time, especially if they use a traditional mortgage instrument that reduces debt,” Yun says.
The 30-year fixed-rate mortgage is likely to increase to 6.6 percent in the third quarter and then hover at that level through 2008.
“Because of reductions in home sales and new home construction, the economy will expand at a subpar pace in 2007,” Yun says. “As housing market conditions improve going into 2008, the economy will reach back to its growth potential next year.” Growth in the U.S. gross domestic product is estimated at 2.0 percent this year, lower than the 3.3 percent growth in 2006. Yun forecasts GDP to grow 3.0 percent in 2008.
The unemployment rate is projected to average 4.6 percent in 2007, unchanged from last year. Inflation, as measured by the Consumer Price Index, is expected to decline to 2.5 percent this year, down from 3.2 percent in 2006. Inflation-adjusted disposable personal income is likely to rise 2.8 percent this year, compared with a 2.6 percent increase in 2006.
© 2007 FLORIDA ASSOCIATION OF REALTORS
Visit us on the web. www.ArnowitzProperties.com
Arnowitz & Associates. Taking Over The Market, One Property At A Time....
Thursday, May 24, 2007
New Home Sales Highest monthly gain in 14 years
April new home sales highest monthly gain in 14 years
WASHINGTON (AP) – May 24, 2007 – Sales of new homes surged in April by the biggest amount in 14 years.
The Commerce Department reported that sales of new single-family homes jumped by 16.2 percent in April to a seasonally adjusted annual rate of 981,000 units. That was far better than the tiny 0.2 percent gain that economists had been expecting.
Investors were enthusiastic after the Commerce Department’s report. The Dow Jones industrials surged 74.68, or 0.55 percent, 13,604.80 soon after the housing numbers came out.
Areas in South Florida are firming and showing signs of strength. A few of these areas are Sunny Isles, Bal Harbour, Bay Harbour, Hallandale, and Aventura. Prices are firming and beginning to edge higher. After all, news media and sensationalistic TV would have you believe that the entire housing market has burst. This is why it is so important to analyze the parts and not the whole when looking at data in this type of market.
I welcome your reply...
Arnowitz & Associates, taking over the market, one property at a time....
visit us on the web www.ArnowitzProperties.com
WASHINGTON (AP) – May 24, 2007 – Sales of new homes surged in April by the biggest amount in 14 years.
The Commerce Department reported that sales of new single-family homes jumped by 16.2 percent in April to a seasonally adjusted annual rate of 981,000 units. That was far better than the tiny 0.2 percent gain that economists had been expecting.
Investors were enthusiastic after the Commerce Department’s report. The Dow Jones industrials surged 74.68, or 0.55 percent, 13,604.80 soon after the housing numbers came out.
Areas in South Florida are firming and showing signs of strength. A few of these areas are Sunny Isles, Bal Harbour, Bay Harbour, Hallandale, and Aventura. Prices are firming and beginning to edge higher. After all, news media and sensationalistic TV would have you believe that the entire housing market has burst. This is why it is so important to analyze the parts and not the whole when looking at data in this type of market.
I welcome your reply...
Arnowitz & Associates, taking over the market, one property at a time....
visit us on the web www.ArnowitzProperties.com
Thursday, May 17, 2007
TAXES
Florida Legislature may agree on method of property tax reform
TALLAHASSEE, Fla. – May 17, 2007 – While a House-Senate committee discussing Florida property values has not reached any conclusions, negotiators said yesterday they’ve tentatively agreed on a method to use – expand existing exemptions, such as homestead, and create new ones for non-homesteaded properties.
The announcement followed an earlier release from House Democrats touting their version of property tax reform, which included larger exemptions. Their version would exempt 50 percent of a home’s value for homesteaded owners. Other property owners could exempt 25 percent of their value for tax purposes up to a maximum of $250,000 for larger commercial properties.
House Republicans had suggested a similar plan earlier, but with more dramatic exempt amounts. Some leading state senators have also expressed support for this type of tax-cutting plan, though all parties still remain far apart in the amount of the exemption. House Speaker Marco Rubio earlier suggested an exemption as high as 80 percent for homesteaded owners, though he was less clear on the amount other owners should enjoy.
A meeting of the joint House-Senate takes place on Monday at 1 p.m. in Tallahassee, one of two interim meetings scheduled before the full Legislature returns for a special session Jun 12-22.
Source: The Orlando Sentinel, May 17, 2007
© 2007 FLORIDA ASSOCIATION OF REALTORS®
Arnowitz & Associates. Taking over the market, one property at a time....
Visit us on the web @ www.ArnowitzProperties.com
TALLAHASSEE, Fla. – May 17, 2007 – While a House-Senate committee discussing Florida property values has not reached any conclusions, negotiators said yesterday they’ve tentatively agreed on a method to use – expand existing exemptions, such as homestead, and create new ones for non-homesteaded properties.
The announcement followed an earlier release from House Democrats touting their version of property tax reform, which included larger exemptions. Their version would exempt 50 percent of a home’s value for homesteaded owners. Other property owners could exempt 25 percent of their value for tax purposes up to a maximum of $250,000 for larger commercial properties.
House Republicans had suggested a similar plan earlier, but with more dramatic exempt amounts. Some leading state senators have also expressed support for this type of tax-cutting plan, though all parties still remain far apart in the amount of the exemption. House Speaker Marco Rubio earlier suggested an exemption as high as 80 percent for homesteaded owners, though he was less clear on the amount other owners should enjoy.
A meeting of the joint House-Senate takes place on Monday at 1 p.m. in Tallahassee, one of two interim meetings scheduled before the full Legislature returns for a special session Jun 12-22.
Source: The Orlando Sentinel, May 17, 2007
© 2007 FLORIDA ASSOCIATION OF REALTORS®
Arnowitz & Associates. Taking over the market, one property at a time....
Visit us on the web @ www.ArnowitzProperties.com
Wednesday, May 9, 2007
Fed Leaves Key Interest Rates Unchanged
WASHINGTON, May 9 — The Federal Reserve acknowledged today that the economy is slowing but offered little hint that it is ready to lower interest rates anytime soon.
The central bank kept the benchmark interest rate on overnight loans between banks at 5.25 percent — the same level it has been since the Fed began its “pause” almost a year ago.
It also reiterated its basic stance of the last year, saying that inflation remains a bigger worry at the moment than slowing economic growth. “Core inflation remains somewhat elevated,” the Fed said in a statement accompanying its decision. “Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain those pressures.”
The tilt suggested that the central bank will wait at least until after its next meeting in June, and perhaps much longer, before actually reducing the cost of borrowing.
Fed officials have openly acknowledged that economic indicators are flashing a bewildering mix of green and red. Economic growth slowed sharply in the first quarter of this year to an annual pace of 1.3 percent, the slowest pace in four years, and job creation in April slowed to its lowest level in two years.
But unemployment remains well below 5 percent, a level that many economists consider tantamount to full employment, and consumer spending has remained surprisingly strong.
Fed officials have openly acknowledged that they face greater uncertainty in both directions — the possibility of that growth will slow more expected and the possibility that prices and wages will climb faster than expected.
Amid that mixed economic signals, the Fed seemed determined to keep its options open and to avoid any implied promises about its next move on interest rates.
The Fed is now nearing the one-year mark of standing pat. After raising the overnight federal funds rate at every policy meeting from June 2004 to June 2006, the central bank’s ostensibly temporary pause in rate changes has a good chance of lasting until this fall or even longer.
Arnowitz & Associates. Taking Over The Market, One Property At A Time...
Visit us on the web @ www.ArnowitzProperties.com
The central bank kept the benchmark interest rate on overnight loans between banks at 5.25 percent — the same level it has been since the Fed began its “pause” almost a year ago.
It also reiterated its basic stance of the last year, saying that inflation remains a bigger worry at the moment than slowing economic growth. “Core inflation remains somewhat elevated,” the Fed said in a statement accompanying its decision. “Although inflation pressures seem likely to moderate over time, the high level of resource utilization has the potential to sustain those pressures.”
The tilt suggested that the central bank will wait at least until after its next meeting in June, and perhaps much longer, before actually reducing the cost of borrowing.
Fed officials have openly acknowledged that economic indicators are flashing a bewildering mix of green and red. Economic growth slowed sharply in the first quarter of this year to an annual pace of 1.3 percent, the slowest pace in four years, and job creation in April slowed to its lowest level in two years.
But unemployment remains well below 5 percent, a level that many economists consider tantamount to full employment, and consumer spending has remained surprisingly strong.
Fed officials have openly acknowledged that they face greater uncertainty in both directions — the possibility of that growth will slow more expected and the possibility that prices and wages will climb faster than expected.
Amid that mixed economic signals, the Fed seemed determined to keep its options open and to avoid any implied promises about its next move on interest rates.
The Fed is now nearing the one-year mark of standing pat. After raising the overnight federal funds rate at every policy meeting from June 2004 to June 2006, the central bank’s ostensibly temporary pause in rate changes has a good chance of lasting until this fall or even longer.
Arnowitz & Associates. Taking Over The Market, One Property At A Time...
Visit us on the web @ www.ArnowitzProperties.com
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