Your Sunny Isles Condo Resource

The South Florida real estate

became a roller-coaster ride back in 2002 through 2007 due to loans and mortgages being cheap and readily available, thus condo flippers were flipping several times before the buildings were even built, resulting in artificially inflated prices. At the height of the condo flipping in 2005-2006, prices for some brand new projects, like Jade Ocean Sunny Isles hit as much as $1,200 per square foot….

Since then most of properties lost 30% to 40% because most of the buyers had bailed out leaving the developers struggling to complete the projects and to sell the units all over again. However, things are looking brighter on the horizon – the prices are back to affordable again and the buyers are looking to capitalize on it.

Two most popular condos in Sunny Isles – Jade Beach and Jade Ocean

are making a comeback again. Jade Beach is completely sold out as of beginning of 2010 and Jade Ocean is not 60% sold and closed. Of course the prices are no longer $1,200 per sq.ft., but more like $450 and $500 per square foot, which of course is lot more affordable and in line with today’s luxury ocean front properties in Miami.

Sunny Isles Beach real estate

is situated directly on the Atlantic ocean, between Golden Beach real estate which is north of Sunny Isles and Bal Harbour real estate on the south side. Aventura condos are located West of Sunny Isles.

The most recent addition to an already impressive Sunny Isles condos are the three Trump Towers offering some 813 luxury ocean front units. Trump Tower I is already completely sold out, Trump Tower II is about 85% sold out and Trump Tower III is scheduled to start the sell out on September 15th. The prices will vary between the lowest $365 per square foot to just over $400 per square foot for higher floors which offer 11 foot ceilings and expansive South East views of Downtown Miami and of course the ocean.

Gil Dezer, president of Dezer Properties, says of Trump Towers: “We really set the floor for pricing in Miami, here we are in a Trump Tower building, selling at below $400 a foot on the ocean. People are waiting for the bottom, and I think we hit the floor.”

Dezer is also in charge of the nearby Trump Palace and Trump Royale, named Trump Grande Sunny Isles, another high-rise development on Collins Avenue in Sunny Isles Beach. The complex also includes Trump International hotel.

“We were averaging $800 a foot before (during the downturn), and now we’re getting about $400 a foot; we’re down literally 50 percent,” Dezer says of Trump Towers.

Edgardo Defortuna, president and CEO of Fortune International Development, says “We sold Jade Beach at an average of $540 a square foot; the resales went up to $750 a square foot, but some of those buyers didn’t close, and we ended up taking those units back.” However, in the last six months, Fortune International has managed to resell the remainder of Jade Beach’s 248 units. The sister project Jade Ocean is now selling eight to 12 units per month at an average of $625 per square foot.

In January, Dezer Development decided to bet even bigger on Sunny Isles by assuming a $265 million loan from a development partnership that included the Related Group in order to take over sales of Trump Towers. Since then, Dezer has sold about 285 apartments at Trump Towers at an average of around $420 per square foot.

Part of this success is thanks to Sunny Isles’ beach location surrounded by wealthy enclaves. Golden Beach homes, full of multimillion-dollar mansions (Ricky Martin has one), recently completed a $30 million civic improvement project that included landscaping and an eco-friendly storm-water drainage system.

Nearby Bal Harbour condos offer most sought after ocean front properties as well as a shopping destination that rivals top shopping in the world, comparable and some think even better than Rodeo Drive and Europe. And Aventura is a quiet golf and beach destination favored by Michael Jordan and a sharp set who can’t stand the bustle of South Beach.

“Friends bring their friends, relatives recommend Sunny Isles to their loved one’s, because those who live in Sunny Isles Beach simple love it!” says Edgardo Defortuna. “The Sunny Isles market has become very attractive once again.”

There are many factors that must be taken into consideration when you are buying condo in Miami, including location, price, size, amenities and quality of construction. That is particularly true when you are thinking of purchasing a condo in an area that is prone to hurricanes. While the Miami area is drenched with sun and is the ideal vacation location, reality dictates that you must take practical matters into consideration, including whether the new luxury condos in Miami are hurricane proof.

The simple answer to this question is that yes, they are! All of the construction materials which have been used in the building of these beautiful and spacious condos are completely hurricane proof. This includes 150 mph impact hurricane proof windows and much more.

If you have found yourself concerned about buying a condo in an area that may be subject to a hurricane, you can put your mind at ease with these high quality construction condos.

Hurricanes are a simple fact of life. While some hurricane seasons are milder than some, prudence calls for being prepared in advance to ensure that your investment in a real estate purchase is not at risk. Buying a luxury condo in Miami that is hurricane proof is a sound investment, allowing you to enjoy the many amenities in the Miami area without worrying that your condo will become victim of the next strong hurricane season.

Contact us today and allow us to tell you more about these luxury condos and how you can enjoy the many benefits available from these residences, including easy access to the beaches and the fabulous shopping of Miami. Whether you are looking for a full-time residence or a vacation home as your own personal getaway, let us help you get started.

Miami Condos are popular again

and investors are snatching up distressed ocean front condos in Miami like never before. Here is The Miami Herald article by Mimi Whitefield:

Nearly 800 Canadians will jam a hotel ballroom near the Toronto airport Sunday to hear the gospel of Florida real estate.
High-end Brazilian buyers prefer to be wooed more intimately — perhaps at a cocktail party or a small private dinner — but they are just as pumped.

Lured by rock-bottom prices, international buyers are now flocking to buy Florida properties. It’s especially true in countries where the currency is strong against the dollar.

“We’re telling Canadians this is a once-in-a-lifetime opportunity — the perfect storm,” said Brian Ellis, who heads Toronto-based Florida Home Finders of Canada.” The prices are just incredible and the Canadian dollar has been so strong.”

At least three of five buyers in the Greater Downtown Miami condo market are coming from abroad, estimates Jenny Huertas, international sales director for Condo Vultures, a real estate advisory and research firm.

The stampede from overseas is “kind of like a foreign subsidy helping us resolve our real estate problems,” said Peter Zalewski, a Condo Vultures principal. “This time the assistance isn’t coming from Washington. It’s coming from Caracas, London, Milan, Bogotá.”

The buying frenzy was set off by developers lowering prices on new units to below what it cost to build in today’s market, Huertas said.

“There were many people on the sidelines watching for the floor. In the last three or four months there’s the perception that we’re there,” said developer Edgardo Defortuna, president and chief executive of Fortune International and the developer of some of the most sought after ocean front condominiums in Miami like Jade Ocean Sunny Isles and Jade Beach Sunny Isles.

CASH CUSTOMERS

Most of the foreigners are cash buyers like Leroy Jean Francois, who has snapped up 47 properties since January for the two real estate firms he works for in France and Switzerland. The plan, he said, is to buy, fix up if necessary, rent out for the next five years, then sell — for a profit.

The Frenchman has already made a paper profit on a unit he closed on in January at Marquis Residences, a 67-story luxury tower in downtown Miami where prices for a one-bedroom apartment start at $375,000. His unit cost $317 per square foot — “a great price, incredible,” he said.

A recent plunge in the euro — it’s now worth $1.23, down from its high of more than $1.60 in 2008 — could cool things off a little. To buy a $1 million condo, it now takes around 814,000 euros compared to 625,000 euros under the old exchange rate.

Meantime, prices for brand new condos on the ocean in Miami also have came down to around $400 per square foot.

But even the declining euro has barely given Francois pause.

“I think the euro will weaken more. But even if the exchange rate is $1 to 1 euro, Miami real estate is still a great bargain for us,” said Francois, who is president of The Bridge, a real estate fund consultancy.

AVERAGE JOES

Luxury Miami condos

are once again popular among Latin America buyers who purchase them as investments but also as a home base while their children attend school here, they attend to business interests or escape strife at home.

But for his Canadian buyers, Ellis scours South Florida for condo units at around the $150,000 price point. “We’re basically the Wal-Mart. We’re for the average Joe.”

And these days average Joe Canadian can afford much more. For decades the U.S. dollar was worth more than the Canadian dollar and buying in the U.S. was always more expensive for Canadians. But in September 2007, the Canadian dollar reached parity with the greenback for the first time in 31 years. It fell back again, but now the Canadian loonie, which takes its name from the loon pictured on the one-dollar coin, is near parity at around 95 cents.

So Ellis has been offering his Florida real estate seminars to packed houses in Ontario and is thinking about taking the show on the road to Montreal. There was so much interest in the latest seminar that he had to schedule two sessions for 400 people each this Sunday.

Most of his Canadian buyers are what Ellis calls “end-vestors,” meaning they plan on renting a unit out for now with an eye toward using it themselves down the road.

Since Home Finders is licensed as a brokerage only in Canada, it works with Florida brokers who complete the sales and pay the Canadian firm referral fees. By year’s end, Ellis said he expects to have facilitated 500 Florida closings.

PRICES HALVED

Though Home Finders is now working with one Sunny Isles Beach property where condos are listed for up to $350,000, the Sun Vista Gardens in Tamarac is a more typical offering.

There, buyers can find a one-bedroom for under $75,000 and a two-bedroom for under $100,000. That same one-bedroom, used to cost $190,000, according to Florida Home Finders’ website.

Ellis said he’s actually having a hard time coming up with enough Florida properties in the $150,000 range. Of course, he’s picky. He’s looking for good value, a good location and properties without legal complications. Most of the Canadians want condos, but Ellis said he has some requests for single-family homes.

Though buyers from Europe, Latin America — most from Argentina, Brazil, Colombia, and Venezuela — and Canada predominate in the South Florida real estate market, a smattering of Chinese investors and African buyers also are starting to make purchases.

“We recently sold a $7.5 million penthouse at Jade Ocean to a Nigerian buyer,” said Defortuna. “They were here and they loved it.”

CHINA, TOO

At Fortune’s 237-unit Artech Aventura building

Defortuna said 11 condos were sold to Chinese investors. Units in the building are selling for almost half of the original asking price.

“I think China is still a marginal market,” said Defortuna. “The Chinese are more focused on the West Coast and New York, but small pockets [of Chinese buyers] can make a big difference in a building.”

With international offices in Mexico and Argentina, Fortune can tap directly into those markets, and it frequently holds seminars on the legal and financial aspects of owning property in the United States. At one recent event in Buenos Aires there was space for just 200 people, so Fortune decided to charge a $60 fee. “We still had to close reservations,” said Defortuna.

One big concern of foreign buyers is what happens to their properties when they lock up after a vacation, said Defortuna. But Fortune International’s property management division will take care of things like paying utilities and condo fees — and even turn over a client’s car engine once a week so the battery doesn’t die.

A number of local brokerages have country specialists on staff who work with their counterparts abroad to bring in buyers.

Sunny Realty

for example, has sales associates who specialize in the French, Italian, Russian, Brazilian and South American markets, said Leon Belenky, executive director and managing broker.

With Miami condos prices so low

the Brazilian currency (the real) strong, the Brazilian economy robust and real estate prices on the rise in cities like Sao Paulo, where a luxury property might cost $800 to $1,000 per square foot, Brazilians like what they see in South Florida.

IMPOSSIBLE TO LOSE

“They feel it’s almost impossible to lose money,” said Leon Belenky.

Africa Israel USA, the New York-based developer of the 292-unit Marquis Residences, also works with the brokerage community in target markets like Venezuela, the South of France, Mexico and Brazil. Working with brokers, it has put on events ranging from fashion shows to invitation-only cocktail parties and dinners, said Lori Odover, the managing director.

“It needs to be someone they know, that they have a one-on-one relationship,” she said. So that means even an event at a synagogue or someone’s uncle’s pool party can be a selling opportunity.

Though most international buyers pay cash, there’s an international financing program at Marquis that has proven popular. Some 57 percent of Marquis’ foreign buyers have chosen it.

While the program’s 45 percent down payment for a five-year ARM seems steep, Bob Wuan, managing director of Americore Mortgage/Vacation Finance, said, “We find international buyers are more than willing to put 50 percent or more down. They want to put money in U.S. real estate as a currency hedge or an inflation hedge.”

Meanwhile, Ellis keeps telling Canadians what a great deal Florida is: “We believe Florida real estate is in for quite a rebound. We just don’t know when.”

Read more: http://www.miamiherald.com/2010/05/29/v-print/1655236/foreign-buyers-are-flocking-to.html#ixzz0pVdSkWMh

Encouraging news came today from Freddy Mac – mortgage rates are at a new low

If you are buying and in need of a mortgage, you can get the cheapest rate today. The reason for this is the European debt, which could be troublesome in the eyes of Wall Street investors.

“Mortgage rates fell to their lowest level of the year this week as yields on U.S. government securities fell”, Freddie Mac said Thursday. “Fixed mortgage rates tend to follow the yield of 10-year Treasury notes.”

Treasury yields sank after Germany’s move this week to curtail certain kinds of short-selling spooked investors, who shifted money from risky European debt to safer U.S. securities.

A side effect of the lower Treasury rates was lower mortgage rates.

The average rate on a 30-year fixed rate mortgage dipped to 4.84 percent from 4.93 percent a week earlier, Freddie Mac said. It was the lowest level since mid-December, when rates averaged 4.81 percent.

“The timing is fortuitous,” said Greg McBride, a senior financial analyst at Bankrate.com, “because home shoppers who rushed to sign their purchase contracts in late April to capture the tax credit are locking in their mortgage rates now.”

New buyers were offered a credit worth up to $8,000, while current owners who bought and moved into another home could get one for up to $6,500. To receive them, buyers had to have a signed offer by April 30 and must close by the end of June.

Economists expected home sales to flag after the credit expired, but lower rates could help offset the falloff.

Pava Leyrer, president of Heritage National Mortgage in Michigan, hasn’t seen buyer interest wane yet. “Rates are helping them buy more,” she said.

However, strict credit requirements and negative home equity threaten to sideline borrowers hoping to refinance out of unaffordable loans. Refinancing activity isn’t as robust as last year, when rates dipped below 5 percent.

“Everyone who could get in already got in,” said Marc Demetriou of Residential Home Funding in Bloomingdale, N.J. The remaining borrowers may not be able to refinance under the stricter credit standards or don’t have enough home equity to get approved. Mortgage delinquencies hit a record high in the first quarter, according to an industry report this week.

Could rates fall further? Yes, but that would likely be the result of further deterioration in the global economy. “Yeah, mortgage rates would drop further, but you may not have a job to qualify,” Bankrate’s McBride said.

Among other types of mortgages in Freddie Mac’s survey, the average rate on a 15-year fixed-rate mortgage was 4.24 percent this week, down from 4.3 percent. Rates on five-year, adjustable-rate mortgages averaged 3.91 percent, down from 3.95 percent a week earlier. Rates on one-year, adjustable-rate mortgages fell to 4 percent from 4.02 percent.

The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.

The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 of a point for 30-year and 15-year loans, and 0.6 of a point for 5-year and 1-year loans.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day.

South Beach Real Estate

offers a variety of condos and South Beach homes at price reductions of 30% or more. Below are some of the best deals in the area:

Icon South Beach

is one of the most extravagant buildings on SoFi. Built in 2007, it was decorated by Philip Stark, one of the most talented European designer. Icon Miami Beach because instant success and the most prestigious address in South Beach. However, due to current economic downturn you can find great deals in Icon at reduced prices. Check out current availability for sale or rent as well as what has recently sold and statistics for Icon Condo South Beach.

Apogee South Beach

is the most successful project on South Beach. Although it is probably the most expensive condominium in Miami, it offers great deals for those looking for top notch luxury living on South Beach. Apogee Condo offers spacious residences with magnificent views of Fisher Island homes, ocean and Intracoastal waters. Check out current availability for sale or rent as well as what has recently sold and statistics for Apogee Condo South Beach.

Continuum South Beach

offers one thing no other building offers – private beach. Situated directly on the ocean it presents unique opportunity to enjoy the best South Beach has to offer. You can find great deals in Continuum Miami Beach and this building will be the first to appreciate once the market turns.

Check out current availability for sale or rent as well as what has recently sold and statistics for ContinuumCondo South Beach.

Continuum South Beach

is still the number one choice for oceanfront condos in South Beach. What makes it unique? Continuum condo offers 1,000 feet of ocean frontage and twelve acres of lush greenery and water features. Owners enjoy swimming laps in the rooftop pool or playing a game of tennis in one of three courts on the property. You can enjoy a smoothie at the snack bar that’s adjacent to the rooftop pool.

Massage therapists and fitness trainers are present to help you relax and stay in shape. The fitness center and spa occupy four levels of the building. If you enjoy socializing and working out, there are plenty of options for you. With classes ranging from Pilates to kickboxing to beach yoga, there is sure to be something that will appeal to you. After an invigorating workout, you can relax in the open-air rooftop treatment tents. Pevonia products are used for facials and other body treatments. For a European wellness experience, you can retreat to the eucalyptus steam room or the redwood sauna.

The staff is available to help you reach your fitness goals. With nutritional counseling and a physical fitness assessment, you can work toward your own personal health goals.

Your condo unit offers the privacy you’d expect in a luxury residence. The balcony offers sweeping views and the sliding doors feature glass that meets hurricane readiness standards. Even the interior doors offer solid cores for extra peace and quiet. You’ll be inspired to cook gourmet meals, thanks to the huge built-in Sub-Zero refrigerator and Miele cook top in your kitchen.

With 300 units and forty stories, Continuum Miami Beach offers panoramic views of the ocean. You’ll enjoy privacy and services that few can afford. With complimentary valet parking and concierge service, a life of comfort awaits you.

There are exclusive residences, and then there are really exclusive residences in Miami. Apogee Miami is the new “top” of the real estate market in the Miami South Beach area. It wasn’t too long ago that Fisher Island in Miami Beach was the priciest place to live, owing to its average residential sales price of $3.4 million. With Apogee’s selling prices, Fisher Island is about to get trumped. The upper-end of the real estate market has not lost its desirability despite the worst recession since the Great Depression, and Apogee is definitely the upper crust of the upper-end.

The penthouse in Apogee

sold for a cool $15 million in 2008, making it the highest selling price of the year for South Beach real estate. What’s the big attraction of Apogee South Beach? Because each unit in the building offers 3,000 to 4,200 square feet of living space and special soundproofing, there’s plenty of elbow room and privacy. Each unit features glass windows that are impact resistant and sound resistant. There are even “midnight” kitchens in the master bedroom closets (you read that right). Situated at the very southern tip of South Pointe, the oceanfront property sits on nearly three acres and offers endless amenities. It’s surrounded by other expensive and luxurious properties.

Despite the recession, South Beach condos have seen sales of multimillion dollar properties on an almost weekly basis. With luxury units like in Apogee condos, many buyers pay in cash. As the economy enters the recovery stage and the dollar increases in value, look for prices on luxury condos to not only hold steady, but spike back up in price. While midrange properties in Miami Beach don’t do well in a floundering economy because mortgages are hard to get, luxury condos attract buyers who have ample stores of liquid assets.

While the rest of Miami-Dade has experienced sluggish sales, the high-end of the Miami Beach market never came to a grinding halt. The richest of the rich don’t need to rely on credit or loans, so a place like Apogee is within their reach no matter what the unemployment rate is.

Who buys Miami real estate?

About 60% comes from foreign buyers purchasing Florida vacation homes. The study showed that Florida is leading the nation with 23% of all international buyer purchases in the 12-month period ending in June 2009. The study also showed that Florida real estate is the top choice for European buyers – about 33%, U.K. buyers – about 47%, Latin American buyers – about 45% and Canadian buyers – about 35%.

Miami single family homes

as well as Miami luxury ocean front condos remain to be on the top of the list as favorite habitat for the International buyers. With it’s white sandy beaches, theme parks, top of the line restaurants and South Beach nightlife, Miami Beach is a coveted destination for foreign buyers. Even throughout the downturn in the global economy, Florida’s natural beauty, climate and the overall lifestyle makes it an ideal spot for vacationers and retirees as well. It’s ideal location makes it easily accessible with direct flights from major cities in Europe, Canada, Mexico and South America.

Another reason for Miami’s popularity is that Miami home prices as well as ocean front condo prices have come down considerable in the past few years, making it very affordable for foreign buyers. The prices for Miami luxury condos and Miami waterfront homes are already a bargain by European standards, which are further enhanced by the weakness of the dollar against other major currencies, including Euro, British pound and Canadian dollar. The currency has an additional effect of further reducing the cost of Miami luxury properties.

The NAR (National Association of Realtors) study took a close look at the pricing and found that foreign buyers purchased more expensive properties, on average, than did U.S. buyers. However, the luxury properties in U.S. were less expensive than properties in other countries. In May 2009, the average home price in the U.S. was $218,300 compared with $278,100 in Canada and $237,900 in U.K.

The growing percentage of foreign buyers purchase multiple properties. Current prices are so low, many buy more than one home, investing in the future. However, the major challenges for foreign buyers are U.S. immigration laws, taxes and finance. Under current law, foreigners can not remain in the country for more than six months continuously unless they have a special visa, such as those for students or workers.

We expect to see a strong upturn in activity in the second half of 2010 and the upcoming winter season. Right now many prospects are still “up on the fence” waiting for signs of stability in the U.S. real estate market. As soon as foreign buyers believe the market has bottomed, we will see a significant increase in activity. Then, when prices start moving up again, there will be a flood of buyers. After all, almost everyone wants to own a peace of the dream – Miami luxury condo or Miami waterfront single family home.

Very encouraging news came in today about Florida real estate

from NAR – National Association Of Realtors. When comparing February 2010 Miami home sales and Miami condo sales, to February 2009, Florida’s existing home sales rose in February, which means that sales activity has increased in the year to year comparison for the past year and a half (18 months), according to the latest housing data released by Florida Realtors®.

Here is the link to the article – http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=236318 but you can also read it below:

“Existing home sales increased 21 percent last month with a total of 11,890 homes sold statewide compared to 9,867 homes sold in February 2009, according to Florida Realtors. Statewide existing home sales last month increased 13.6 percent over statewide sales activity in January.

Florida Realtors also reported a 59 percent increase in statewide sales of existing condos in February compared to the previous year’s sales figure; statewide existing condo sales last month rose 9.8 percent over the total units sold in January.

“Homebuyers should take advantage of favorable conditions in the current housing market,” said 2010 Florida Realtors® President Wendell Davis, a broker with Watson Realty Corp. in Jacksonville. “Mortgage rates remain near historic lows at just under 5 percent, but they won’t stay at that level forever. Plus, only six weeks are left before the extended and expanded homebuyer tax credit expires. First-time buyers and current homeowners who want to buy their next home in time to use the tax credit must have a purchase contract signed before the April 30 deadline – then they’ll have until June 30 to close the transaction.”

Seventeen of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales in January, while all but one MSA had higher condo sales. A majority of the state’s MSAs have reported increased sales for 20 consecutive months.

Florida’s median sales price for existing homes last month was $131,300; a year ago, it was $141,800 for a 7 percent decrease. Analysts with the National Association of Realtors® (NAR) note that sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in January 2010 was $163,600, down 0.4 percent from a year earlier, according to NAR. In Massachusetts, the statewide median resales price was $300,000 in January; in California, it was $287,440; in New York, it was $242,750; and in Maryland, it was $234,894.

NAR’s latest outlook predicts a surge in late spring home sales. “Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory levels,” said NAR Chief Economist Lawrence Yun. “If there is sufficient job creation, housing can become self-sustaining with stable to modestly rising home prices.”

In Florida’s year-to-year comparison for condos, 5,085 units sold statewide last month compared to 3,190 units in February 2009 for an increase of 59 percent. The statewide existing condo median sales price last month was $92,200; in February 2009 it was $109,100 for a 15 percent decrease. The national median existing condo price was $172,400 in January, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 4.99 percent last month, even lower than the average rate of 5.13 percent in February 2009, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state’s smaller markets, the Punta Gorda MSA reported a total of 239 homes sold in February compared to 216 homes a year earlier for an 11 percent increase. The market’s existing home median sales price last month was $96,600, slightly higher than the year-ago median price of $96,400. A total of 43 condos sold in the MSA in February compared to 33 units sold the same month a year earlier for an increase of 30 percent. The existing condo median price last month was $95,000; a year earlier, it was $88,300 for a gain of 8 percent.”

South Beach Condos For Sale

include some of the most stunning and distinctively “Florida” options on the market. This neighborhood, of course, also offers its residents access to such historic areas as the Art Deco District. This area has both affluent and more affordable properties. Some of them are historic, Art Deco properties while many of them are built in ways which incorporate elements of that style, but which have very modern features and amenities. Many of these properties are built on the beach itself, and many of their residents enjoy expansive views of the ocean from their living rooms.

South Beach Condos

oftentimes include touches such as large balconies. This feature allows the residents to live in an area where land is at a premium, but to still enjoy a great deal of private space. These balconies are very popular design elements. The tall tower properties oftentimes use the balcony space creatively, with wrap-around designs and other variations being available. The warm climate makes these particularly pleasant places to lounge during the majority of the year. They are sometimes large enough to accommodate tables and to entertain guests.

Many of the South Beach condominiums

also have very large windows built into their design. This is popular for obvious reasons. An ocean view that doesn’t require one to be out in the elements means that residents enjoy some of the most spectacular weather scenery imaginable. These windows can be made safe for hurricanes, which allows the designers to erect buildings that are more in line with the environment in which they’re located. These buildings oftentimes manage to carry this off while still having very high-tech touches, such as security systems and touch-pad interfaces in the individual living units and cutting-edge fitness facilities.

For more information on condos on South Beach for sale please visit our site – South Beach real estate where you can find all currently available properties for sale and rent.