WASHINGTON – Nov. 30, 2011 – Pending home sales in Miami

rose strongly in October and remain above year-ago levels, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, surged 10.4% to 93.3 in October 2011 from 84.5 in September 2011 and is 9.2% above October 2010 when it stood at 85.5. The data reflects contracts but not closings.

“Miami home sales have been plodding along at a sub-par level while interest rates are hovering at record lows, and there is a pent-up demand from buyers who normally would have entered the market in recent years,� says Lawrence Yun, NAR chief economist. “We hope this indicates more buyers are taking advantage of the excellent affordability conditions. Many consumers recognize that homebuyers in the past two years have had one of the lowest default rates in history. Moreover, continued inventory declines are another healthy sign for the housing market.�

The PHSI in the Northeast surged 17.7% to 71.3% in October and is 3.4% above October 2010. In the Midwest the index jumped 24.1% to 88.7 in October and remains 13.2% above a year ago. Pending home sales in the South rose 8.6% in October to an index of 99.5 and are 9.7% higher than October 2010. In the West, the index slipped 0.3% to 105.5 in October but is 8.1% above a year ago.

“Although contract signings are up, not all contracts lead to closings,� Yun says. “Many potential homebuyers inadvertently hurt their credit scores and chances of getting a mortgage through easily averted actions, such as cancelling an old credit line while taking on a new one. Such actions could unwittingly prevent buyers from obtaining a mortgage if their credit score is close the margins of qualifying – or they might get a loan but with less favorable terms.�

The Mei Miami Beach Condominiums

are the latest addition to luxury living in Miami Beach. These Miami Beach condos are unique in that they blend traditional Asian design with contemporary technology. Residents spend their time relaxing on the white sand beach, visiting the on-site Tea Lounge, spa, fitness center, and Zen library. The Mei Miami condominium is minutes away from the dynamic city of Miami Beach. At the same time, residents have access to their own personal refuge where they can get away from a fast-paced life and into a more centered, tranquil space.

Buyers appreciate the customized options available at Mei condominiums. You can choose from a residence that is ready to move into or opt for a unit that can be personalized by your own decorator. Amenities include a gorgeous lagoon pool with an ocean view. Also included are a misting pool and an Infinity Edge pool. The gardens are landscaped with a tropical theme that provides the ultimate oasis for relaxation.

Located on 175 linear feet of beachfront, the sound of the ocean will put your mind at ease. You will be able to walk barefoot on the pristine beach, take a dip in the oceanside pools, enjoy a massage at the spa, and enjoy the beauty of your condo. Services include 24-hour concierge, security, and valet parking. Each unit has been pre-wired for hi-speed Internet, satellite television, local and international phone, music and video libraries, and voice mail.

You can reserve your space on the renowned “Millionaires Row� where you will share an oceanfront with legendary condos such as the Fountainbleau, the Bath Club, and Canyon Ranch Miami. South Beach and Bal Harbor are merely minutes away so that you can experience some of the best shopping experiences in the world, fine dining, and an exciting nightlife. Set up a consultation today so that you can find the perfect home to enjoy luxury living every day of the week.

According to a recent report from Sunny Realty, the Miami area has experienced the largest boost in sales activity in five years. The largest contributing factor to this rise in activity is the number of foreign buyers flooding to the area, predominantly from European countries and Brazil.

“The 2011 trend shows that we are heading toward a healthier Miami real estate market. The strength of this market is something that hasn’t been seen in years, showing promise for a strong third and fourth quarter finish,� stated Leon Bell of Miami’s Sunny Realty.

When evaluating reports on the state of the Miami real estate market, it is essential to consider specific segments of the data collection relative to the types of properties listed, those selling, those in distress and who the buyers are. For example, at first glance at recent pricing reports, one would conclude that the median sales price for Miami properties had dropped. June reports show the median pricing of single-family homes in Miami dropping slightly, 2.8%, from second quarter close. One contributing factor to this slight price decrease is the number of distressed property sales in the area.

Many real estate professionals, including those of Sunny Realty, suggest that we are nearing the bottom of the distressed inventory, as many property owners have addressed these issues over the past several years. What we will be left with moving forward are the more desirable properties, positioned well to sell. In fact, as the number of distressed properties has been drastically reduced in recent months, the number of properties currently in inventory has also dropped, helping prices to hold their own, despite the perception of a slow market.

While this tells the tale of the median home market, an entirely different story is painted when you consider the state of the Miami luxury real estate market.

When you isolate luxury properties in the same area boasting average pricing in excess of $1 million, up nearly 5% from second quarter, a different story is painted of the market. Leading the market are luxury properties, predominantly of interest to foreign buyers (nearly 80% of sales), although domestic buyers are also looking to the area for vacation properties offered at competitive prices. Within the Miami area, homes in Miami Beach are showing the most promise, case in point with the recent $19.8 million sale of the Maurice-Fatio designed property on Sunset Island.

As the number of high end Miami homes sold increases over the past month, the number of high end properties hitting the available inventory has not. This trend suggests that the market is tightening. It is possible that the Miami real estate market will bear price increases as we head into the year’s end.

Fort Lauderdale homes

are located in one of the most sought after cities and regions of the world. With its picturesque views and beautiful climate, there is no doubt this is one of the most desirable area for boaters and one of the biggest luxury housing market in the South East Florida. Take into consideration all of the options available to you when choosing a home in this area. You are likely to find numerous well-priced, high quality properties in this region worth investing in.

Where Is Fort Lauderdale?

Fort Lauderdale, Florida is on the Atlantic Coast. It is in Broward County and has an estimated population of 183,600 people. It is the largest metropolitan area in South Florida, with an estimated 5.4 million people. While the region is a thriving community and regional economic center, it is also a prominent tourism destination. Many people spend time traveling to Fort Lauderdale to take in the sun, the beaches and the water. The area is a yachting center, with more than 42,000 yachts and 100 marinas in the area. The city is 23 miles just south of Miami, making it the prime destination for visitors from around the world.

Culture and Lifestyle in The Metropolitan Miami Area

If you’re looking for homes for sale in Fort Lauderdale, you are sure to find exactly what you’re looking for in one of the various communities here. Fort Lauderdale does have a strong seasonal variation, in which many people come down to the region during the fall and winter and travel to a secondary home during the summer months. With a strong beach lifestyle, or sailing experience, the region definitely has an outdoor lifestyle.

The city has 60 distinct neighborhoods that comprise its metropolitan area. Some of the most prominent Fort Lauderdale communities and neighborhoods include the following. You can find homes for sale in each of these areas.

· Bay Colony
· Harbour Heights
· Hillsboro Mile
· Las Olas Isles
· Lauderdale Beach
· Rio Vista
· Victoria Park/a>

There are numerous others as well. If you are considering buying a luxury house in Fort Lauderdale in any of these or other neighborhoods in the city, chances are good you will find a wide range of home styles, price ranges and land areas available to you. You could live on the beach and wake up to the waves crashing in. You could live in the heart of one of the cultural communities here, too, where there is a strong cultural presence.

Moving to Fort Lauderdale may be a great decision for you for many reasons. The location has a strong economy, reliant on tourism, industry and corporate companies. You can enjoy the warm climate, where the temperatures remain never dip close to freezing (the lowest temperatures during the winter months are above 50 degrees.) You can take advantage of upscale living, waterfront property or purchase a home in a residential neighborhood to raise your children in. This large and growing city is a popular option because of all it offers. Look at the homes for sale in Fort Lauderdale to find out what your options are right now.

Buying Miami foreclosure home is a far different thing than buying a Miami short sale home

Both of them involve properties that are in distress. A foreclosure action is taken by the bank that owns the mortgage on the home when the owner becomes behind in their payments. There is a specific process the bank must go through to take this action and, in the end, the bank owns the property.

A short sale is a much different thing. There are specific consequences for the buyers involved in these transactions and it’s important to understand what you’re getting into if you decide to buy a distressed property in either scenario.

Purchasing Foreclosure Homes in Miami or Fort Lauderdale

When a homeowner cannot make their mortgage payments for some reason and falls far behind, the bank will try to recover their money by seizing the home. After the home is seized, the homeowner loses all of their rights to the property and the bank will generally sell it off as quickly as it can. Approximately 4% of the homes in the use are facing the specter of foreclosure.

When a homeowner falls behind in their payments—usually 3 months behind, in most states—the lender will send what’s called a Notice of Default (NOD). The NOD informs the homeowner that their property will be put up for sale if they fail to make good on their mortgage payments and constitutes a threat to take the home away from the homeowner. The bank, not having been paid, has this option and the homeowner will likely find themselves without a roof over their head if they don’t make the situation right. This happens for many reasons. Recently, high unemployment and the bursting of the Miami real estate bubble have contributed to what’s been termed the Foreclosure Crisis in the media.

Buying a home that’s in foreclosure is much faster and more convenient than buying one that’s being offered in a short sale. If you make an offer to the bank, they have 7 business days to reply, ensuring that there is speedy communication between the buyer and the bank. Where a short sale is concerned, the situation is much different.

Purchasing Miami Short Sale Property

A short sale is a way that the homeowner tried to make the situation with the bank right but is also one in which they walk away from the property.

A short sale is oftentimes brought about because the homeowner is facing a financial hardship. They may have lost their job, incurred high medical expenses or have endured some other setback that resulted in them not being able to make their house payments anymore. When this happens, they have the option of simply defaulting on their loan, which is never a good idea. As an alternative, they can arrange for a short sale of their property. They may also pursue this action if the value of the home is less than the total amount of loans and liens against the home; a situation that is oftentimes referred to as a mortgage being “underwater�.

The bank has to approve the short sale. This requires that the borrower provide them with evidence of their financial hardship. This is oftentimes done with the assistance of a realtor and the bank or other lender will generally take the petition more seriously if it’s filed by a real estate professional.

After the bank has approved the short sale of the home—which may or may not happen—the home is put off for sale in the normal fashion. It is listed on the Miami MLS system and the realtor does the work of advertising and showing the home to perspective buyers. The difference between this transaction and a normal real estate transaction is that the lender understand that the property will not sell for the value of the loans against it and, therefore, that the sale will be literally short of the original value of the home.

The seller gets to walk away from the sale without owing any money, in the ideal situation or them. This is a way that they can sell their property instead of having it foreclosed upon and it is sought out by sellers who want to mitigate the damage to their credit. There will, however, still be damage to their credit in this situation.

For the buyer, the real difference is that the short sale process is a competitive bidding process. It can take up to 6 months or a year to find out whether your offer has been accepted. Because you have committed to that deal, of course, you cannot make offers on other homes that may become available on the market. This can severely limit the ability of the buyer to stay active in the real estate market and, of course, this makes the arrangement much less attractive to very aggressive buyers.

The real estate market in Miami Florida

is seeing significant recovery of late and investors, as well as those simply looking for a new place to call home, are back in the market looking to buy. According to the Florida Realtors, there has been significant growth in different sectors of the market.

Condominiums in Miami

Miami luxury condominiums are some of the most distinctive features of the Miami real estate market. Popular as second homes and, increasingly, with those who want a luxurious place to call their primary home, these condominiums have been selling very well in recent months. In February, 2011, these properties jumped 29% in sales volume compared to the same month in 2010.

Sunny Isles Beach, in particular, a very popular hub for luxury condominiums. Developments such as Trump Towers, Trump Palace, Trump Royale constructed by the Trump Group and many others constitute some of the most desirable properties in the region. If you’re looking to get into one of these great homes, you’re not alone. This is the third consecutive year that the Miami Realtors have been able to report that the sales of these properties have increased over the previous year, boding well for the future of this real estate sector.

Miami Beach Home sales are also up. In 17 of the state’s metropolitan areas, increases in home sales were reported. There was a 13% increase in the sale of homes and there was an increase of more than 10,000 homes reported over a year ago: 12,164 in February 2010 versus 13,701 in February 2011.

This trend has been statewide and shows that the market is making a steady recovery after the crash. There are other factors that are driving this increase in sales, as well.

Mortgage Rates

The credit score requirements for taking out lending may be much higher than they were a few years ago, but the terms being offered are much more desirable. Interest rates are very low and this has made it apparent to those who can take out the lending that now is a good time to consider buying into the real estate market.

Because both homes and condominiums have been selling better compared to 2010, it’s an indication that the pickup is across the board, from those seeking to live next to the ocean in one of Florida’s famous high-rises to those seeking a simple single-family home in the city. There are fewer vacant homes statewide, as well, indicating that the worst of the real estate woes are past and that the future is looking up.

Sustained Improvement

This improvement in Miami home sales has been seen for the last two years, indicating that it is not a short-term trend. There has also been improvement over the prior month—January, 2011—which indicates that the upward curve has some welcome relief and some improvement that isn’t coming too slowly to be an advantage to homeowners.

Active Months

The month of April is always one of the most active for Florida realtors. This is the time of year when the snowbirds head home for the summer, but it is also the time of year when many of them decide that they want to buy a new or better property in Florida. With the traditionally slower months of January and February showing increases in sales, realtors are optimistic that the busy season will be better yet and that many more homeowners will be interested in getting new properties and that those who haven’t purchased a home in Miami as of yet will decide that now is the right time to go ahead and do it.

Commercial Real Estate in Miami

Miami commercial real estate has also been a big seller. Investors are flocking to the area to make purchases and much of their investment activity has been good for the state all around.

Shopping centers in Miami have been particularly popular with these investors. With the economy improving, these are fixing up to be hot properties in the near future. Currently, investors are buying up shopping centers that have become run down over the years and transforming them into destination spots for those who want a bit of retail fun. Because of the very low cost of borrowing money at present, it makes sense for them to be making this move right now.

Finding a good real estate deal has never been an easier proposition in Miami Florida and that, no doubt, is part of what’s driving the increase in sales. If you’ve been hesitating, you’re becoming part of a smaller number of people by the day. Today, the trend is to buy and that trend has been growing for the last couple of years. The current balance between investor interest and affordable investment properties makes it an ideal time to consider making your move and getting back into this historically very hot real estate market, whether you’re buying commercial or residential.

For more information please contact our office at 1.877.368.2318.

Pending home sales in Miami

rose 18 percent over the course of the past month, to 11,544, compared to the same period one year ago, when there were 9,751 pending sales, according to new data released today by the Miami Association of Realtors.

Pending home sales, which include single-family homes in Miami and condominium sales in Miami, were also up 3.24 percent month-over-month in March, the figures show. The condominium market outpaced the market for single-family homes, with the former rising 25 percent year-over-year and 4.1 percent month-over-month, and the latter up 10.1 percent year-over-year and 2 percent month-over-month in the county.

“Increased pending sales reflect the existence of pent-up demand and should result in strengthening home values as distressed housing inventory continues to be absorbed,” said Jack Levine, chairman of the board of Miami Realtors.

Even among luxury locations, some are more desirable than others. Some homeowners will prefer something very private and something that offers them tremendous security. Others will prefer to be part of a thriving community that is spontaneous, trendy, upscale and fun. Coral Gables homes Florida has long had a reputation for being the latter. It is also enjoying a market favorable to sellers at the moment.

The properties that make up the Coral Gables real estate

inventory are very diverse. There is a huge range of architectural styles represented. The area is also very popular as a location for corporate headquarters and there is a growing and affluent population that calls this city home. This is among the first planned communities in the Miami-Dade area and it has consistently been one of the most popular, in good times or bad.

Currently, there is 80% owner occupancy in Coral Gables. This indicates the fact that this city is popular as a location for people’s primary homes and sets it apart a bit from a great deal of the southern Florida real estate market, which is oftentimes popular with those who want a vacation home in the beautiful tropical environment. In Coral Gables, however, there is tremendous access to all the luxury amenities one would expect.

This area has several important selling points that those wishing to unload their homes will appreciate. The area is full of restaurants and entertainment venues and they tend to be very upscale and fun. There is a healthy arts and culture scene in the community and it has the feel of being an important part of the local culture rather than being separated from it, as is the case with some luxury developments. Like all areas of Miami-Dade, the aftershocks of the real estate crash are fading away and the market is starting to get brisk again.

There are currently many homes listed on the market, and they are fetching very impressive prices. The homes in Coral Gables range from the low $100,000s to over 10 million dollars in price. This lends some strength to the market, as it is diverse. Homes in fashionable areas, such as Anastasia Avenue and Snapper Creek Road, however, are demanding high prices and there is great interest in them. With a good Coral Gables realtor, it’s possible to turn a handy profit in this popular and historic city.

Too many home sellers are worried that 2008 never ended. In the intervening 2 years, the Florida real estate market has improved. A reduction of foreclosures on the market combined with a strengthening economy has caused home prices to rise. In Miami Beach, sometimes called The Venice Of America, the market is heating up and luxury properties are on the move again.

Miami Beach real estate

is well-known for its stylish, luxury waterfront homes. Many of them have a distinctly tropical feel that celebrates the beautiful Florida climate. While the market everywhere was tough for a while, the market in luxury areas such as these has been improving recently. There are some techniques a good realtor can help you to use to sell your home in this area, if it’s time for a change.

Most homes in Miami Beach

remain on the market between 6 to 8 months, according to MLS data. This is not an extended time, by any means, for a home to be available on the market. In fact, it shows how rapidly a buyer can be found for a well-priced home in this market.

In the last few quarters, the prices for Miami Beach luxury waterfront homes have been going up. Combined with a realistic price for your home, this means that a realtor may be able to unload your house much more quickly than you think, and at a far better price than you may have been hoping for. It’s very realistic to get a premium price for your luxury Miami Beach home, the demographic who buys them isn’t known for being bargain shoppers.

There is plenty of appeal for a good home in Miami Beach area. While the area is known for being affluent, there are homes that aren’t necessarily up to the standards of luxury that the target demographic sometimes expects. Some are sold based on being waterfront properties, with most of their value coming from that fact. A good property on Miami Beach at a sensible price is a very attractive commodity.

In the last year, this area has been particularly good for homes at around $1,000,000. This makes it ideal for those who want something that bespeaks luxury but who don’t want to overbuy. If you have Miami Beach real estate in this price range, be aware that a realtor will be working with a very interested market and that a sale may be very rapid.

For more information on today’s best deals in Miami Beach please be sure to visit:

Pinetree Drive Homes, North Bay Road homes, Allison Island homes and La Gorce homes.

It may be true that the economy has taken a hit, but don’t believe everything you hear. Now is the perfect time to purchase a Golden Beach home because prices have dropped dramatically across the nation. Buying a house is a long-term investment, and just because headlines say that the housing market is down doesn’t mean that buyers can’t get a home loan at a reduced price.

The stock market is a good example; it has its ups and downs. Therefore, the housing market is very similar – where there’s a down, there’s also an up. If you have decent credit and a job that provides steady income, then you can still achieve mortgage credit at a reasonable rate. Since the housing market is “down,� these rates have hit all-time lows.

Home Appreciation

Realistically, home appreciation has the possibility of increasing five to six percent annually, which means that you can earn a significant return on your investment in one year. For example, if you purchase a $200,000 home and put down 10 percent at a five percent appreciation rate, then the home would increase $10,000 in value during its first year.

That 10 percent investment returned a 50 percent return – and that was in just one year. Of course, this does not mean you have to purchase a $200,000 home, but you can see the real value behind purchasing a home and what kind of investment you are making.

Reducing Costs

While looking at Miami real estate

you should focus on Miami homes that have been reduced in price by the seller. This does not mean they are desperate, but it does mean they are motivated to sell and may be willing to work with you on a price reduction. You can even purchase a home at a reduced price by insisting that the seller pays for the closing costs. A seller who is ready to end the deal will most likely agree to additional tactics by the buyer.

After viewing the home, you can renegotiate the price according to anything you’ve seen that should be fixed or replaced. The important thing to remember is that price is not set in stone; like purchasing a car, it is possible to work out a deal that is beneficial to both parties.

About Chris Adams – Chris Adams is founder of 807 Holdings LLC and Scottsdale Homes.