Market Update

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Miami condo sales up 60 percent
September 22, 2011 10:30AM
Sales of existing single-family homes in Miami rose by 49 percent in August to 951, with condo sales jumping 60 percent compared to the same period in 2010, according to data from the Miami Association of Realtors. While the median sales price for single-family homes fell one percent last month, condo sales prices actually jumped 13 percent. The average sales price in Miami-Dade County rose 13.5 percent. "The fact that home prices are rising despite distressed sales that account for the majority of sales is indicative of very positive trends in the Miami marketplace," said Jack Levine, MAR chairman of the board. "If prices are rising for countywide figures that include distressed properties, strengthening would be that much greater if distressed listings were eliminated or reduced. We believe the Miami market in terms of pricing has bottomed." -- Alexander Britell

Broward home prices rise
September 22, 2011 12:00PM
The median sales price for single-family homes in the Fort Lauderdale metro area rose 5 percent last month, with the median condominium sales price increasing 6 percent, according to data from the Miami Association of Realtors. Condo sales jumped 21 percent last month, and single-family sales rose 19 percent compared to August 2010. "Broward County home sales and prices continue to rise, reflecting a healthy and stable real estate market," said Terri Bersach, 2011 president of the Broward County Board of Governors of the Miami Association of Realtors. "Despite the high number of distressed sales, countywide prices are on the upswing, as buyers and investors are taking advantage of current affordability and other market opportunities." -- Alexander Britell

About Brad Arnowitz:
With over $100M in Real Estate Sales. Brad Arnowitz is an industry leader!
Highly specialized - Always discreet and principled in his approach.

Brad Arnowitz, Brad@ArnowitzProperties.com is completely focused on producing successful transactions, utilizing real-time market data and principled, full-disclosure. Brad Arnowitz supports his clients in every facet of the transaction.

For more information, visit Arnowitz & Associates on the web @ http://www.arnowitzproperties.com/ or contact the firm @ 1355 R.E. Associates, Inc, Formally, Re/Max Beach Properties, 1000 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009.


Brad@ArnowitzProperties.com
24/7 (305)776.6113

Specialties:
Boutique firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.

Discreet, principled, straight-forward and practical advice.
Brad Arnowitz is Available to His clients 24/7.
Brad@ArnowitzProperties.com
24/7 (305) 776.6113
http://www.arnowitzproperties.com/

Brad Arnowitz

About Brad Arnowitz:
With over $100M in Real Estate Sales. Brad Arnowitz is an industry leader! Highly specialized - Always discreet and principled in his approach.

Brad Arnowitz, Brad@ArnowitzProperties.com is completely focused on producing successful transactions, utilizing real-time market data and principled, full-disclosure. Brad Arnowitz supports his clients in every facet of the transaction. For more information, visit Arnowitz & Associates on the web @ http://www.arnowitzproperties.com/ or contact the firm @ 1355 R.E. Associates, Inc, Formally, Re/Max Beach Properties, 1000 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009 Brad@ArnowitzProperties.com
24/7 (305)776.6113

Specialties:
Boutique firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.

Discreet, principled, straight-forward and practical advice.
Brad Arnowitz is Available to His clients 24/7.

MIAMI

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MIAMI: In the Greater Miami area nearly 60% of all sales last year were to buyers from overseas, according to the Miami Association of Realtors. For sales of newly build condos downtown, that figure jumps to 90%, says the group. Many of the buyers are from Brazil, which experienced an economic growht rate of 7.5% last year. Brazil’s currencey, the real, has risen about 40% against the U.S. dollar in the last two years unllike Americans, who tend to look for single-famiy homes, overseas buyers favor condos.

About Arnowitz & Associates:
With over $100M in Real Estate Sales. Arnowitz & Associates is a leading full service- boutique firm. Highly specialized - Always discreet and principled in our approach.Bradley E. Arnowitz, P.A. Brad@ArnowitzProperties.com is completely focused on producing successful transactions, utilizing real-time market data and principled, full-disclosure. We support our clients in every facet of the transaction.For more information, visit Arnowitz & Associates on the web @ http://www.arnowitzproperties.com/ or contact the firm @ 1355 R.E. Associates, Inc, Formally, Re/Max Beach Properties, 1000 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009Brad@ArnowitzProperties.com 24/7 (305)776.6113

Specialties

Boutique firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.
Discreet, principled, straight-forward and practical advice. Available to our clients 24/7.

For Immediate Release

For Immediate Release:

Bradley E. Arnowitz, P.A. Brad@ArnowitzProperties.com is pleased to announce that residence 405 located at The Peninsula II Condominium, a luxury enclave located on the Intracoastal Waterway in Aventura, Florida http://www.aventuracondolistings.com/ has been placed under contract. Accompanying his recent sales successes of PH05/06, residence 507, residence 1107, and Grande’ Suite 05/06 Mr. Arnowitz is #1 in The Sales & Marketing of Aventura Condo’s! http://www.aventuracondolisting.com/

To request your FREE presentation on how Bradley E. Arnowitz Brad@ArnowitzProperties.com will market your home or condominium simply click on the link http://www.arnowitzproperties.com/seller-presentation.asp or contact Mr. Arnowitz directly Brad@ArnowitzProperties.com / (305) 328.9554.

About Arnowitz & Associates:
With over $100M in Real Estate Sales. Arnowitz & Associates is a leading full service- boutique firm. Highly specialized - Always discreet and principled in our approach.

Bradley E. Arnowitz, P.A. Brad@ArnowitzProperties.com is completely focused on producing successful transactions, utilizing real-time market data and principled, full-disclosure. We support our clients in every facet of the transaction.

For more information, visit Arnowitz & Associates on the web @ http://www.arnowitzproperties.com/ or contact the firm @ 1355 R.E. Associates, Inc, Formally, Re/Max Beach Properties, 1000 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009

Brad@ArnowitzProperties.com
24/7 (305)776.6113

Specialties

Boutique firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.

Discreet, principled, straight-forward and practical advice. Available to our clients 24/7.

Pending Sales Jump

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Pending sales Jump: Pending home sales in Miami-Dade in March, jumping 14.4 percent in Miami-Dade and 1.2 percent in Broward, according to data released Thursday by the Miami Association of Realtors.

There were 11,887 home under contract for sale in Miami-Dade in March, up from 10,392 in March 2010. In Broward, there were 8,268 pending sales, up from 8,525 in March 2010. The nuymber of new contracts signed in March jumped 79 percent in Miami-Dade and 15.2 percent in Broward, copared to the previous year.

About Arnowitz & Associates:
With over $100M in Real Estate Sales. Arnowitz & Associates is a leading full service- boutique firm. Highly specialized - Always discreet and principled in our approach.

Bradley E. Arnowitz, P.A. Brad@ArnowitzProperties.com is completely focused on producing successful transactions, utilizing real-time market data and principled, full-disclosure. We support our clients in every facet of the transaction.

For more information, visit Arnowitz & Associates on the web @ http://www.arnowitzproperties.com/ or contact the firm @ 1355 R.E. Associates, Inc, Formally, Re/Max Beach Properties, 1000 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009

Brad@ArnowitzProperties.com
24/7 (305)776.6113

Specialties

Boutique firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.

Discreet, principled, straight-forward and practical advice. Available to our clients 24/7.

Search the ENTIRE MLS System for FREE

www.ArnowitzProperties.com

Search the ENTIRE MLS for FREE!

Simply Click on the link:
http://www.arnowitzproperties.com/MLS.asp

About Arnowitz & Associates

With over $100M in Real Estate Sales. Arnowitz & Associates is a leading full service- boutique firm. Highly specialized - Always discreet and principled in our approach.

Bradley E. Arnowitz, P.A. Brad@ArnowitzProperties.com is completely focused on producing successful transactions, utilizing real-time market data and principled, full-disclosure. We support our clients in every facet of the transaction.

For more information, visit Arnowitz & Associates on the web @ http://www.arnowitzproperties.com/ or contact the firm @ 1355 R.E. Associates, Inc, Formally, Re/Max Beach Properties, 1000 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009

Brad@ArnowitzProperties.com
24/7 (305)776.6113

Specialties

Boutique firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.

Discreet, principled, straight-forward and practical advice. Available to our clients 24/7.

South Florida Resale Inventory

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For the first time in at least three years, the combined number of single-family houses, condos, and townhouses on the resale market in the tricounty South Florida region is poised to tumble below 60,000 residential properties, according to a new report from condo vultures.

Miami-Dade County, where Aventura, Miami Beach, and Sunny Isles Beach are located, leads the tricounty region in available resale product with nearly 21,150 properties available.

Palm Beach County, where Boca Raton, Delray Beach, and West Palm Beach are located, has the second highest number of residential resales available with nearly 21,000 properties.

Broward County, where Fort Lauderdale, Hollywood, and Pompano Beach are located, has the fewest number of residential properties available for resale with 18,500.

The 60,000-residence resale mark has been a long time coming.

When reporting began on resale inventory on Nov. 24, 2008 there were nearly 108,000 homes available as the U.S. financial system faced a meltdown, according to data from the Florida Association of Realtors.

Following the emergency creation of the Troubled Asset Relief Program, the Presidential election of Barack Obama, and a plummeting U.S. dollar, the available resale inventory in South Florida dipped below 100,000 properties on Feb. 2, 2009.

Nearly three months later on April 27, 2009, the inventory slipped below 90,000 properties, and proceeded to fall below 80,000 properties on July 6, 2009. Some four months later on Nov. 9, 2009, the resale inventory dropped below 70,000 properties, and looked poised to continue the decline in 2010, according to data.

At the time, the increasing number of transactions by all-cash buyers and individuals taking advantage of the federal government’s first-time home buyers incentive program prompted many owners who were not deeply distressed situation but wanted out to put their properties on the market, industry watchers said.

In the first 10 months of 2010, the number of available resales swung between 65,000 and nearly 69,000 properties at any given time, according to the data.

Available inventory began another steady decline again in late September 2010 when administrative irregularities tied to the foreclosure process made national headlines, prompting several lenders to withdraw bank-owned product from the resale market. The situation has been dubbed a “foreclosure freeze” by the media.

For example, there were 69,229 properties available for resale in South Florida on Sept. 27, 2010.

A week later as concerns related to the foreclosure freeze spread, South Florida available residential inventory dipped to 68,724 properties on Oct. 4, 2010.

The following week on Oct. 11, 2010 the available South Florida inventory dropped to 67,977 properties, according to the data.

The week-over-week declines have continued since September 2010 as banks withdraw residential product that could have potential “foreclosure freeze” issues and buyers purchase product at deep discounts of more than 40 percent.

About Arnowitz & Associates:

With over $100M in Real Estate Sales. Arnowitz & Associates is a leading full service- boutique firm. Highly specialized - Always discreet and principled in our approach. Bradley E. Arnowitz, P.A. Brad@ArnowitzProperties.com is completely focused on producing successful transactions, utilizing real-time market data and principled, full-disclosure. We support our clients in every facet of the transaction. For more information, visit Arnowitz & Associates on the web @ http://www.arnowitzproperties.com/ or contact the firm @ 1355 R.E. Associates, Inc, Formally, Re/Max Beach Properties, 1000 E. Hallandale Beach Blvd, Hallandale Beach, FL 33009

Brad@ArnowitzProperties.com
24/7 (305)776.6113

Specialties

Boutique firm providing brokerage, development, sales investment, property management, asset management, and residential services for office, multi-family, industrial/commercial, residential, and retail properties.

Discreet, principled, straight-forward and practical advice. Available to our clients 24/7.