More than 88 units SOLD in Brickell in the last 30 days

May 22, 2012May 22, 2012 ~ The ASSAL Team ~ Leave a comment

Status	Address	Complex Name	List Price	Sale Price	#Beds	#FB	Yr Blt
CS	1050 BRICKELL AV # 3014	1060 Brickell	449,000	416,000	2	2	2009
CS	1060 BRICKELL AVENUE # 2307	1060 BRICKELL	420,000	400,000	2	2	2008
CS	1060 BRICKELL AV # 2013	1060 BRICKELL	290,000	280,000	1	1	2008
CS	1060 BRICKELL AV # 1509	1060 Brickell	214,500	175,000	0	1	2008
CS	1060 BRICKELL AVE # 2102	1060 BRICKELL CONDO UNIT	320,000	307,500	1	1	2007
CS	500 BRICKELL AV # 2010	500 BRICKELL	379,000	360,000	2	2	2008
CS	500 BRICKELL AV # 2003	500 BRICKELL	284,000	265,000	1	1	2008
CS	500 BRICKELL AV # 3800	500 BRICKELL EAST	349,000	320,000	1	1	2008
CS	1111 SW 1 AV # 2124-N	Axis on Brickell	219,900	219,900	1	1	2008
CS	79 SW 12 ST # PH302	Axis on Brickell	200,000	236,000	1	1	2008
CS	1200 BRICKELL BAY DR # 3615	BRICKELL	240,000	252,500	2	2	2005
CS	2333 BRICKELL AV # 206	Brickell Bay Club	380,000	360,000	3	2	1974
CS	540 BRICKELL KEY DR # 925	Brickell Key Drive	205,000	195,000	1	1	1991
CS	540 BRICKELL KEY DR # 1400	BRICKELL KEY II CONDO	239,900	230,000	1	1	1991
CS	520 BRICKELL KEY DR # A1815	BRICKELL KEY ONE	425,000	390,000	2	2	1982
CS	31 SE 5th St # 202	BRICKELL ON THE RIVER	275,000	275,000	1	1	2006
CS	31 SE 5 ST # 2709	BRICKELL ON THE RIVER	200,000	180,000	1	1	2006
CS	31 SE 5 ST # 2001	BRICKELL ON THE RIVER NT	260,000	295,000	2	2	2006
CS	1865 BRICKELL AV # A1205	BRICKELL PLACE	215,000	201,000	1	1	1975
CS	2451 BRICKELL AV # 4A	BRICKELL TOWNHOUSE	244,000	250,000	2	2	1963
CS	2127 BRICKELL AV # 3801	BRISTOL TOWER	3,099,000	2,600,000	5	4	1993
CS	901 BRICKELL KEY BL # 2608	CARBONELL CONDO	1,850,000	1,700,000	4	4	2005
CS	901 BRICKELL KEY BL # 3507	CARBONELL CONDO	950,000	922,500	2	2	2005
CS	901 BRICKELL KEY BL # 1209	Carbonell Condo	799,000	725,000	2	2	2005
CS	2400 SW 3 AV # 701	coral palms condo	249,900	220,000	2	2	1996
CS	801 BRICKELL KEY BL # 705	COURTS AT BRICKELL	270,000	250,000	1	1	2002
CS	801 BRICKELL KEY BL # 2210	COURTS BRICKELL KEY	515,000	515,000	2	2	2002
CS	801 BRICKELL KEY BL # 1705	Courts Brickell Key	285,000	270,000	1	1	2002
CS	801 BRICKELL KEY BL # 1004	COURTS BRICKELL KEY CONDO	639,000	597,000	3	3	2002
CS	701 BRICKELL KEY BL # 2102	COURVOISIER COURTS	460,000	450,000	2	2	1997
CS	701 BRICKELL KEY BL # 1708	COURVOISIER COURTS	239,500	232,000	1	1	1997
CS	701 BRICKELL KEY BL # 705	COURVOSIER COURT	345,000	328,000	2	2	1997
CS	200 BISCAYNE BLVD WY # 3102	Epic West Condo	935,000	715,000	2	2	2008
CS	185 SE 14 TE # 2305	Fortune House Condominium	295,000	275,000	2	2	1998
CS	1425 BRICKELL AV # 41D	FOUR SEASONS	630,000	605,000	1	1	2003
CS	465 BRICKELL AV # 2705	Icon at Brickell	675,000	670,000	2	2	2008
CS	485 BRICKELL AV # 4908	ICON VICEROY BRICKELL	750,000	675,000	2	2	2009
CS	475 Brickell Ave # 5107	ICON BRICKELL	769,000	730,000	2	2	2008
CS	495 BRICKELL AV # 1105	ICON BRICKELL	607,000	597,000	2	2	2009
CS	465 Brickell Ave. # 2305	Icon Brickell Tower 1	730,000	715,000	2	2	2009
CS	495 BRICKELL AV # 3311	ICON BRICKELL TWO	599,000	590,000	2	2	2008
CS	1627 BRICKELL AV # 407	IMPERIAL AT BRICKELL	725,000	710,000	4	4	1983
CS	1627 Brickell Av # 1903	Imperial At Brickell Cond	390,000	375,000	2	2	1983
CS	1627 Brickell Av # 1903	Imperial At Brickell Cond	390,000	375,000	2	2	1983
CS	770 CLAUGHTON ISLAND DR # 908	Isola Condominum	239,900	227,000	1	1	1990
CS	1331 BRICKELL BAY DR # 2111	JADE RESIDENCE	1,250,000	1,120,000	2	2	2004
CS	1331 BRICKELL BAY DR # 4307	JADE RESIDENCES	1,374,900	1,360,000	3	3	2004
CS	1331 BRICKELL BAY DR # 1707	JADE RESIDENCES	620,000	565,000	1	1	2004
CS	1331 BRICKELL BAY DR # BL-25	JADE RESIDENCES	579,900	535,000	1	2	2004
CS	185 SW 7 ST # 1904	LATITUDE ON THE RIVER	210,000	208,000	1	1	2007
CS	300 S BISCAYNE BL # 2902	METROPOLITAN MIAMI	399,000	390,000	2	2	2008
CS	690 SW 1 CT # 1208	NEO Vertika	202,500	187,500	1	1	2006
CS	325 S BISCAYNE BL # 721	ONE MIAMI	339,900	350,000	2	2	2005
CS	325 S BISCAYNE BL # 1622	One Miami	325,000	300,000	2	2	2005
CS	335 S BISCAYNE BL # 1510	ONE MIAMI	295,000	270,000	1	1	2005
CS	325 S BISCAYNE BL # 1516	ONE MIAMI	259,000	245,000	1	1	2005
CS	325 S BISCAYNE BL # 2923	One Miami Condo	490,000	470,000	3	2	2006
CS	335 S BISCAYNE BL # 3507	One Miami Condo	399,000	390,000	2	2	2005
CS	325 S BISCAYNE BL # 3814	ONE MIAMI CONDO	350,000	329,500	2	2	2006
CS	888 BRICKELL KEY DR # 412	ONE TEQUESTA POINT	2,250,000	1,875,000	4	4	1995
CS	888 BRICKELL KEY DR # 709	ONE TEQUESTA POINT CONDO	439,000	400,000	2	2	1995
CS	115 SW 11 ST # PH 2	PARKVIEW AT BRICKELL	217,800	218,000	3	2	2007
CS	950 BRICKELL BAY DR # 3206	Plaza on Brickell	429,600	416,000	2	2	2008
CS	1643 BRICKELL AV # TH3301	SANTA MARIA	4,500,000	4,250,000	4	5	1997
CS	2101 BRICKELL AV # 805	SKYLINE ON BRICKELL	278,000	265,000	1	1	2004
CS	1111 SW 1 Ave # N1722	The Axis	315,000	309,900	2	2	2008
CS	1200 BRICKELL BAY DR # 3618	THE CLUB AT BRICKELL	208,500	202,000	1	1	2005
CS	1200 BRICKELL BAY DR # 3614	THE CLUB AT BRICKELL BAY	209,000	210,000	1	1	2005
CS	90 SW 3 ST # 3506	The Ivy	297,000	280,000	2	2	2008
CS	1155 BRICKELL BAY DR # 602	THE MARK	365,000	335,000	3	2	2001
CS	1155 BRICKELL BAY DR # PH303	THE MARK ON BRICKELL	1,000,000	1,075,000	3	2	2001
CS	1155 BRICKELL BAY DR # 3309	THE MARK ON BRICKELL	360,000	315,000	2	2	2001
CS	2475 BRICKELL AV # 1008	THE METROPOLITAN CONDO	249,000	240,000	1	1	2001
CS	1541 BRICKELL AV # C 2306	THE PALACE	434,000	425,000	2	2	1981
CS	1541 BRICKELL AV # C-1905	THE PALACE	431,700	416,700	2	2	1981
CS	1541 BRICKELL AV # A-3902	THE PALACE CONDO	1,000,000	1,005,000	5	4	1981
CS	950 BRICKELL BAY DR # 4009	THE PLAZA	335,000	310,000	1	1	2008
CS	950 BRICKELL BAY DR # 4404	THE PLAZA ON BRICKELL	450,952	443,000	2	2	2008
CS	950 BRICKELL BAY DRIVE # 4606	THE PLAZA ON BRICKELL	432,452	432,000	2	2	2008
CS	950 BRICKELL BAY DRIVE # 4101	THE PLAZA ON BRICKELL	296,452	292,000	1	1	2008
CS	950 BRICKELL BAY DRIVE # 3308	THE PLAZA ON BRICKELL	295,052	290,000	1	1	2008
CS	950 BRICKELL BAY DRIVE # 5003	THE PLAZA ON BRICKELL	292,452	287,000	1	1	2008
CS	170 SE 14 ST # 2005	The Sail	215,000	215,000	2	2	2006
CS	1250 S MIAMI AV # 1306	the vue at brickell	248,900	250,000	2	2	2004
CS	848 BRICKELL KEY DR # 3003	THREE TEQUESTA POINT COND	465,000	430,000	1	1	2001
CS	808 BRICKELL KEY DR # 1201	Two Tequesta Point	915,000	915,000	3	2	1998

If you are considering listing your Brickell, Coconut Grove, Coral Gables, Pinecrest, Palmetto Bay, Doral, Miami Shores, Miami-Dade property for sale or rent please don’t hesitate to contact me. The market is changing and I would be happy to discuss the current value of your home with you. I can be reached on my cell at 786.554.8063

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Coral Gables Home Sales in the past 30 days

May 22, 2012 ~ The ASSAL Team ~ Leave a comment

Coral Gables most deriable residential area keeps increasing month over month and yes, even while inventory is tighter and tighter, 23 homes were sold last month

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If you are still thinking whether is a good time to buy or not, here is an article posted by National Association of Realtors

May 22, 2012 ~ The ASSAL Team ~ Leave a comment

April Existing-Home Sales Up, Prices Rise Again

WASHINGTON (May 22, 2012) – Existing-home sales rose in April and remain above a year ago, while home prices continued to rise, according to the National Association of Realtors®. The improvements in sales and prices were broad based across all regions.

Total existing-home sales¹, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, increased 3.4 percent to a seasonally adjusted annual rate of 4.62 million in April from a downwardly revised 4.47 million in March, and are 10.0 percent higher than the 4.20 million-unit level in April 2011.

Lawrence Yun, NAR chief economist, said the housing recovery is underway. “It is no longer just the investors who are taking advantage of high affordability conditions. A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices,” he said. “The general downtrend in both listed and shadow inventory has shifted from a buyers’ market to one that is much more balanced, but in some areas it has become a seller’s market.”

Total housing inventory at the end of April rose 9.5 percent to 2.54 million existing homes available for sale, a seasonal increase which represents a 6.6-month supply² at the current sales pace, up from a 6.2-month supply in March. Listed inventory is 20.6 percent below a year ago when there was a 9.1-month supply; the record for unsold inventory was 4.04 million in July 2007.

“A diminishing share of foreclosed property sales is helping home values. Moreover, an acute shortage of inventory in certain markets is leading to multiple biddings and escalating price conditions,” Yun said. He notes some areas with tight supply include the Washington, D.C., area; Miami; Naples, Fla.; North Dakota; Phoenix; Orange County, Calif.; and Seattle. “We expect stronger price increases in most of these areas.”

The national median existing-home price³for all housing types jumped 10.1 percent to $177,400 in April from a year ago; the March price showed an upwardly revised 3.1 percent annual improvement. “This is the first time we’ve had back-to-back price increases from a year earlier since June and July of 2010 when the gains were less than one percent,” Yun said. “For the year we’re looking for a modest overall price gain of 1.0 to 2.0 percent, with stronger improvement in 2013.”

Distressed homes⁴ – foreclosures and short sales sold at deep discounts – accounted for 28 percent of April sales (17 percent were foreclosures and 11 percent were short sales), down from 29 percent in March and 37 percent in April 2011. Foreclosures sold for an average discount of 21 percent below market value in April, while short sales were discounted 14 percent.

NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said home buyers should look into financing in the early stages of their search process. “With the tight lending environment it’s a good idea to consult with a Realtor® about mortgages and program options in your area, and tips for boosting your credit score well in advance of making an offer on a home,” he said. “It helps to go into the process knowing what it takes to succeed.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage declined to 3.91 percent in April from 3.95 percent in March; the rate was 4.84 percent in April 2011. Last week the 30-year fixed rate dropped to a record weekly low of 3.79 percent; recordkeeping began in 1971.

First-time buyers rose to 35 percent of purchasers in April from 33 percent in March; they were 36 percent in April 2011.

All-cash sales fell to 29 percent of transactions in April from 32 percent in March; they were 31 percent in April 2011. Investors, who account for the bulk of cash sales, purchased 20 percent of homes in April, compared with 21 percent in March and 20 percent in April 2011.

Single-family home sales rose 3.0 percent to a seasonally adjusted annual rate of 4.09 million in April from 3.97 million in March, and are 9.9 percent higher than the 3.72 million-unit pace a year ago. The median existing single-family home price was $178,000 in April, up 10.4 percent from April 2011.

Existing condominium and co-op sales increased 6.0 percent to a seasonally adjusted annual rate of 530,000 in April from 500,000 in March, and are 10.4 percent above the 480,000-unit level in April 2011. The median existing condo price was $172,900 in April, which is 8.1 percent above a year ago.

Regionally, existing-home sales in the Northeast rose 5.1 percent to an annual level of 620,000 in April and are 19.2 percent higher than a year ago. The median price in the Northeast was $256,600, up 8.8 percent from April 2011.

Existing-home sales in the Midwest increased 1.0 percent in April to a pace of 1.03 million and are 14.4 percent above April 2011. The median price in the Midwest was $141,400, up 7.4 percent from a year ago.

In the South, existing-home sales rose 3.5 percent to an annual level of 1.79 million in April and are 6.5 percent higher than a year ago. The median price in the South was $153,400, up 8.0 percent from April 2011.

Existing-home sales in the West increased 4.4 percent to an annual pace of 1.18 million in April and are 7.3 percent above April 2011. The median price in the West was $221,700, a surge of 15.9 percent from a year ago.

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

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10 signs Miami-Dade’s economy is on the upswing – Business – MiamiHerald.com

May 18, 2012 ~ The ASSAL Team ~ Leave a comment

10 signs Miami-Dade’s economy is on the upswing – Business – MiamiHerald.com.

GROVE AT GRAND BAY

May 16, 2012 ~ The ASSAL Team ~ Leave a comment

If there were one place you could live the rest of your life, what would it feel like? Where would it be?

At the edge of Biscayne Bay, discover a restorative retreat for the mind, healthful activities for the body, and elegant spaces for social connection. Find life at home as it should be, naturally in balance.

Owners of Grove at Grand Bay’s 97 elegant residences will enjoy exceptional features, services and amenities

Grove at Grand Bay has been conceived as a community that speaks to people who seek a home and community that reflects the luxury of well lived. Its setting on the Biscayne Bay waterfront within the elegant Coconut Grove neighborhood of Miami, is a place of privilege, natural beauty, and historic importance.

The developer of Grove at Grand Bay, Terra Group, retained two of the world’s most imaginative and accomplished design firms to create a residential community that embraces and enhances the natural sophistication of this unique setting. BIG Architects has designed the residences and amenity spaces, and Raymond Jungles has designed the property’s landscaping. The expertise of the architectural firm of Nichols, Brosch, Wrust, Wolfe + Associates will ensure faithful implementation of these designs.

Just minutes from the elegant streets of Coconut Grove, Miami’s finest restaurateurs, elite sporting venues and events, and renowned cultural institutions offers pleasure and excitement.

Ancient trees line the streets of Coconut Grove, their canopies gently filtering the sun, their deep roots holding the stories of Miami’s most historic neighborhood. The Vizcaya Museum & Gardens and the Barnacle Historic State Park are reminders of this community’s enduring elegance.

If you are considering listing your Brickell, Coconut Grove, Coral Gables, Pinecrest, Palmetto Bay, Doral, Miami Shores, Miami property for sale please don’t hesitate to contact me. The market is changing and I would be happy to discuss the current value of your home with you. I can be reached on my cell at 786.554.8063

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U.S. housing ma…

Aside ~ May 16, 2012 ~ The ASSAL Team ~ Leave a comment

U.S. housing market finally reaches a turning point (by Florida Realtors)

NEW YORK – May 16, 2012 – Home values will start to climb again and related consumer industries will grow in 2012 and beyond as the U.S. housing market finally turns the corner, according to a new studyreleased today by The Demand Institute, a new nonprofit, non-advocacy group formed in February by The Conference Board and Nielsen.

According to the Institute, the housing market recovery will have “far-reaching impacts in the coming years across the United States and international markets as U.S. consumers increase their spending on buying, renovating, furnishing and maintaining their homes.”

It also won’t be like earlier recoveries, the Institute suggests, with homestead owners leading the way. Instead, real estate investors buying rentals will supply the homebuying demand.

The Institute’s report, The Shifting Nature of U.S. Housing Demand, predicts that average home prices will increase by up to 1 percent in the second half of 2012. By 2014, home prices will increase by as much as 2.5 percent.

From 2015 to 2017, the study projects annual increases between 3 and 4 percent, though unevenly nationwide. The strongest markets “could capture average gains of 5 percent or more in the coming years.”

“In these initial years, the prime driver of recovery won’t be new home construction, but rather demand forrental properties,” says Louise Keely, chief research officer at The Demand Institute and a co-author of the report. “This is a remarkable change from previous recoveries. It is a measure of just how severe the Great Recession has been that such a wide swath of Americans had to delay, scale back, or put off entirely their dreams of homeownership.”

Bart van Ark, chief economist at The Conference Board and co-author of the report, says he doesn’t expect to see the homeownership rate to change.

“Over 80 percent of Americans in recent surveys still agree that buying a home is the best long-terminvestment they can make,” van Ark says. “What will be intriguing to watch is how their aspirations around homeownership are affected by this period of extended austerity.”

Between 2006 and 2011, some $7 trillion in American wealth was wiped out when home prices dropped 30 percent after dramatic climb in valuations during the housing bubble. Looking forward, the moderate growth expectations for coming years suggest a return to normalcy. As home prices continue to drop and interest rates fall further, first-time buyers and others who remained relatively cautious will be drawn back into the housing market. And, as the market recovers, so too will consumer spending.

“As the U.S. housing market strengthens, almost every consumer-facing industry will be impacted in the coming years,” said Mark Leiter, chairman of The Demand Institute. “Business and government leaders will benefit by fully understanding the nature of this recovery. In doing so they will be better able to anticipate how consumer demand will evolve, and to formulate critical business and policy decisions to lead their organizations.”

Key findings

In addition to the projected gains in home prices, the report discusses in detail the dynamics at work in the U.S. housing market and the impacts across industries. What follows are highlights from the report:

• The recovery will be led by demand from buyers for rental properties, rather than, as in previous cycles, demand from buyers acquiring new or existing properties for themselves. More than 50 percent of those planning to move in the next two years say they intend to rent.

• Young people and immigrants will lead the demand for rental properties. Developers and investors will fulfill it: developers by building multifamily homes for rent, and investors by buying foreclosed single-family properties for the same purpose.

• Rental demand will help clear the huge oversupply of existing homes for sale. In 2011, some 14 percent of all housing units were vacant, while almost 13 percent of mortgages were in foreclosure or delinquent – increases of 12 and 129 percent respectively over 2005 levels. It will take two to three years for this oversupply to be cleared, and at that point homeownership rates will rise and return to historical levels.

• The housing market recovery will not be uniform. Some states will see annual price gains of 5 percent or more. Others will not recover for many years. The deciding factors will include the level of foreclosed inventory and rates of unemployment.

• There will also be vast differences within states. Here, additional factors count, such as whether local amenities, including access to public transport, are within walking distance of homes. The report looks at seven factors and then sorts cities and towns into four categories, with each category predicting the speed of a local home price recovery.

• The average size of the American home will shrink. Many baby boomers who delayed retirement for financial reasons during the recession will downsize. They will not be alone. Most Americans will scale back their housing aspirations. The size of an average new home is expected to continue to fall, reaching mid-1990s levels by 2015.

• Consumer industries including financial services, home furnishings and home remodeling will experience shifts in demand and new growth opportunities. Part of this spending is linked to increases in wealth from improving home valuations, while an even bigger part is tied to the “transaction” of buying or selling the home which sets in motion increased demand for a wide range of products and services.

• Despite the number of Americans who have been hurt financially by the housing crash, the desire to own a home remains strong. The Institute doesn’t expect to see a long-term drop in ownership rates.

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April Existing-Home Sales Up, Prices Rise Again

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