aventura
Sales Dropped last month …
On December 22nd 2015, the National Association of Realtors (NAR) released their latest Existing Home Sales Report which covered sales in November. The report revealed that sales:
“…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…”
That revelation gave birth to a series of industry articles, some of which quoted pundits questioning whether the housing market was slowing. In actuality, there is one rather simple explanation to much of the falloff in sales last month. It is likely the implementation of the “Know Before You Owe” mortgage rule, commonly known as the TILA-RESPA Integrated Disclosure (TRID) rule, which went into effect on October 3. These regulations caused house closings to be delayed by an extra three days in November as shown in the graph below.
Three days might sound like a minimal difference. However, since there are only approximately 20 days in a month that a closing would normally take place (Mondays through Fridays), losing three days constitutes well over 10% of all closings. These sales are not lost. They are just moved into the next month’s numbers. In a DS News article on the subject also posted on December 22nd, Auction.com EVP Rick Sharga explained:
“The most likely cause for the weak sales numbers is a delay in processing loans due to the new TRID mortgage requirements imposed by the CFPB. This is the biggest change in mortgage document processing in many years, and there have been numerous reports within the industry of problems implementing the process and the new documentation that comes with it.”
So how is the housing market actually doing?
A better way to look at how well the housing market is doing is to look at the Foot Traffic Report from NAR which quantifies the number of prospective buyers that are actively looking for a home at the current time:
We can see immediately that demand to buy single family homes is increasing over the last few months – not decreasing.
Bottom Line
No matter what last month’s sales numbers show, the housing market is still doing well as demand remains strong.
Call 786.554.8063 or email us George@GeorgeAssal.com, WE are here to facilitate and help you during the process of buying, selling, or renting any real estate needs, which will result in reaching your financial goals quickly and with ease, visit our page www.GeorgeAssal.com .
400 Sunny Isles – Lifestyle
ARCHITECTURE AND DESIGN
. – Designed by renowned Architect Chad Oppenheim
. – Working drawings by Architect of Record Kobi Karp
. – A waterfront haven, stretching an expansive 640 feet directly on Biscayne Bay
. – Two impressive 20-story glass towers with a total of 230 units, each with direct bay, ocean, and park views
. – An open-air arrival courtyard designed by Urbanica Group boasting exotic woods, greenery and serene water features
SERVICES
. – Full-time concierge
. – 24-hour complimentary valet parking
. – 24-hour attended and camera-monitored security in select areas powered by the latest surveillance equipment
. – Business center and multi-purpose media and meeting room
. – Party and entertainment areas
. – Secure undercover garage with assigned parking
. – Bike and Jet Ski storage available
BOATING
. – Private marina with dry and wet dock slips available
. – Marina fully-equipped and serviced with special marine concierge program
. – Immediate access to the Intracoastal Waterway with Atlantic Ocean access just minutes away
. – Fractional yacht ownership offered
. – Boat rentals available
LUXURY SPA AND REJUVENATION CENTER
. – Co-ed and private spa with saunas, steam room, and Jacuzzis with distinct temperatures in a relaxing waterfall atmosphere
. – A unique Rejuvenation Center offering the latest techniques in relaxation and beauty treatments available
. – Bay front, state-of-the-art fitness center with aerobic/yoga room, offering the latest in both traditional and cutting-edge exercise equipment
BAYFRONT LOUNGE AREA
. – The Sandbox, a proposed yacht and beach-style club bistro with a relaxed lounge atmosphere overlooking the bay and marina
I’m a local Real Estate Agent in Miami, I’ve been very successful in finding the right property for my buyers and getting homes sold . Let’s talk as soon as possible, you can reach me at 786.554.8063 or send me an emailGeorge@GeorgeAssal.com you can also visit http://www.GeorgeAssal.co
ECHO AVENTURA Luxury Waterfront Residences
ECHO AVENTURA
.- Offers 2, 3 and 4 bedroom luxury waterfront residences
. – Five Acres of Aventura Waterfront
Building Amenities
. – 190 luxury residences on 5 acres of Aventura waterfront
. – Conceptual design by Carlos Ott + Yabu Pushelberg interiors in a first time collaboration
. – Direct elevator access
. – Bayfront infinity-edge pool with views of the Atlantic Ocean
. – 4,000 square foot fitness center with state-of-the-art gym and yoga room
. – Resort-style poolside service / breakfast and lunch clubroom
. – Private cooled storage space for all Tower East Residents
. – Two private porte-cochere entrances
. – Atrium event room with floor-to-ceiling windows accessible by dedicated glass elevator
. – Exceptional concierges services
Exclusive Services
. – 24-hour concierge service
. – 24-hour valet service & covered self-parking
. – Daily continental breakfast for all residents
. – Pet walking services for all residents
. – Personal poolside service
Residence Features
. – Custom interiors by Yabu Pushelburg
. – Apple® home technology included in all residences
. – Floor-through residences featuring unobstructed water views
. – Each residence offers a bayfront terrace with summer kitchen
. – 18 penthouse residences with private rooftop terraces and plunge pools
. – Individual unit access and direct elevators
. – 10’ ceilings slab-to-slab with floor to ceiling windows
. – Spacious residences with great room, family room, dining room and breakfast nooks
. – Private service suites with bathroom
. – Wolf Gas Stoves and custom hood
. – Side by side paneled SubZero/Wolf appliances
. – SubZero Duel Temperature Wine Storage
. – Built-in coffee and espresso machine
. – Midnight bar in the master suite
. – Oversized soaking tub
. – Grand master his and her walk-in closets
. – Residences equipped with private service suites.
I’m a local Real Estate Agent in Miami, I’ve been very successful in finding buyers and getting homes sold in your area, I would like to show you how I can do the same for you.
Houses are selling, and in fact now is a critical time to rely on a professional with a proven track record like mine. With the correct plan of action your house should be sold quickly and get the most money the market is offering. Let’s talk as soon as possible, you can reach me at 786.554.8063 or send me an emailGeorge@GeorgeAssal.com you can also visit http://www.GeorgeAssal.com
REGALIA – The last Oceanfront parcel in Sunny Isles
LIMITED EDITION LIVING
Spacious residences with more than 7,600 square feet of livable space, 5,515 interior square feet, 2,100 exterior square feet, feature floor-to-ceiling glass walls framing the dramatic ocean and 360 degrees of unobstructed views. Living spaces are flooded with light and air from sunrise to sunset
How many floors / How many units: 46 floors / 39 units
TYPICAL UNIT
Square Footage (interior): 5515 Square Feet
Square Footage (exterior): 2100 Square Feet
TYPICAL UNIT
Square Footage (TOTAL): 7615 Square Feet
Expected Completion: Winter 2013
Deposit Schedule:
a. 20% paid upon execution of contract;
b. 20% paid the later of (1) 90 days after execution of contract; and (2) completion of foundations;
c. 20% paid at completion of pouring top-floor (i.e. building top off);
d. Balance paid at closing.
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I’m a local Real Estate Agent in Miami, I’ve been very successful in finding buyers and getting homes sold in your area, I would like to show you how I can do the same for you.
Houses are selling, and in fact now is a critical time to rely on a professional with a proven track record like mine. With the correct plan of action your house should be sold quickly and get the most money the market is offering. Let’s talk as soon as possible, you can reach me at 786.554.8063 or send me an emailGeorge@GeorgeAssal.com you can also visit http://www.GeorgeAssal.com
The ASSAL Team 
