Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. However, for luxury properties like Turnberry Ocean Colony in Sunny Isles Beach, the housing crisis had ended about a year ago.

Statistically the price per foot had increased by $200 per foot in 2011, based on calculations from recorded sales from the MLS (multiple listing system). If you look at Turnberry Colony’s sales history you will see that average price per square foot paid in 2010 was about $585. However, in 2011 it is $724 per square foot.

“Turnberry Ocean Colony is the most desirable luxury oceanfront condo in South Florida”

said Lana Bell, owner and founder of Sunny Realty, the leading real estate company in Miami. “I can testify not just as a realtor, but also as a resident”. Lana had reported that there are several pending deals right now in Turnberry for over $850/foot.

Although the economy is improving the thought of buying a luxury home still causes a bit of panic with most Americans. With the economy in its current state, it’s hard to justify making any luxury purchases, and a condo in Turnberry Ocean Colony would certainly involve luxury. Before you decide it’s still not the right time to make such a leap, you may want to consider a few things. The prices for these condominium units did slip just a bit when the recession began, but this is changing very quickly.

Live in Luxury

The prestige associated with this address comes from several different factors. One of the most impressive features is, of course, the amazing location and the view of the ocean from just about any vantage point in the complex. That means you can see the water from any unit, either from the picture windows or the terraces. You’ll also note that there are many designer touches throughout the property, with unmatched beauty inside the units. The lighting and countertops are all upgraded to the latest trends, and the appliances throughout are the top brands. Gourmet kitchens and spa-like bathrooms await new residents.

The property offers top-notch amenities. You can enjoy the swimming pools, fitness centers, spa, private beach, 5 star restaurant and pool-side cafe, available to residents only as well as top service and security from a well-trained staff. All of this works together to give you the feel of living in a resort at all times. It’s certainly a life that many would love to live, and it’s something you can experience for yourself.

If you are ready to take that leap, we can show you all of the amazing properties available in Turnberry Ocean and help you choose the one that best fits your wants and needs. We’ll also help you through the negotiation process and walk you through to the closing table. You could be the proud new owner of one of the most amazing condo in the world.

After several years of depressed home sales all over the country, there are finally signs that the recession is on its way out. Of course, it will take some time for home prices to reach the same levels they experienced five or six years ago. The important thing to note, especially for those homebuyers who took a chance in the past year, is that the value of your property is on the mend. All you have to do is take a look around you to see that things are certainly getting better.

Miami real estate Market Is Looking Up

Take, for instance, the condominium sales at Acqualina in Sunny Isles Beach. These are some of the most luxurious ocean front condos in the Miami area, and they draw buyers from all over the world. With top-notch amenities, including swimming pools, fitness centers, beach access, and a full staff, it’s hard to understand why anyone wouldn’t want to live here. For several years, however, the sales of these amazing homes were much lower than usual, simply because buyers were just too afraid to take the leap. With condo sales in Acqualina rising steadily, as numbers from 2011 will show, it’s clear to see that the housing market is turning around.

In addition, the new construction Mansions at Aqualina in Sunny Isles Beach has made a big splash among pre-construction investors. The new, ultra luxurious condo will offer just 79 residences, starting at 4,500 square feet and going up to a wapping 16,000 square one-of-a-kind penthouse. The developer offers selection of high-end finishes so when you buy your unit, you don’t have to worry about the floors, closets, etc. Everything will be completely finished by the developer so all you need to do is sit back, relax and enjoy your new mansion.

The condominium units you’ll find at Mansions at Acqualina

come in several different sizes and floor plans, meaning you’re sure to find something you’ll love. You can be sure that no luxury will be spared during the building and design of the interiors, either. Here is where you will find the most beautiful flooring available, gourmet kitchens with the very best appliances, spa-style bathrooms, and views of the ocean that will steal your breath away. Everyone wants to live here and enjoy the incredible features, but the starting price is $5M plus. If you’re ready to buy, now is the perfect time as you can get it in a pre-construction phase. If you wait too long, you’ll miss out on the lower prices, because these condominium units will go up in price as the development progresses.

How Sales at Acqualina Fared This Year

With total 18 units sold in the Acqualina complex in the last year, it’s easy to see that buyers are ready to make their moves again. These condo units range in price from $1,600,000 to well over $4,000,000. Though one might think the lower-priced units would go first, evidence points to the fact that the multi-million dollar price tags didn’t scare away too many people. In fact, the greater majority of the homes sold went for more than $1,600,000, with a good number of those fetching more than $2,000,000.

Make Your Move Now – place a deposit for newest project in Sunny Isles – Mansions at Acqualina Condo

The new construction condos in Sunny Isles Beach is truly an evidence of a recovering luxury condo market, and it’s a sign that prices are on the mend, too. There is no better time to make your move and secure your new home in the Mansions Aqualina. You can work with our experienced and knowledgeable agents to ensure that you learn all you need to know about condominium living on the beaches of Miami. We’ll also show you that it doesn’t have to be hard to purchase a home, no matter where the market is at the moment. It could be so easy to purchase your new beachfront home. Call today 1.954.336.1016 to talk to our luxury ocean front condo specialist.

There are few names that call to mind such luxury as Trump, and this is certainly evident in Trump Palace Sunny Isles Beach, one of the premier condominium communities in the Miami area. Unfortunately, luxuries are the last things people buy when the economy is tight, and we have certainly been through some rough times in the last few years. With the recession hanging over our heads, most people don’t want to purchase anything but the necessities, and that means homes in Trump Palace have been selling for lower prices than they have in years. There are certainly still those who want to own a piece of prestige, and that has helped to keep these condo units selling, but for a few years, the prices have been lower than ever.

Recent Sales Are Growing in Trump Palace Sunny Isles

With almost ten sales in the last year, it’s easy to see that things are getting better. With the recession slowly coming to a close, people are seeking out some of the luxuries they denied themselves. Though sales are certainly picking up, the prices are still much lower than one might expect. Though there is still quite a difference between the asking price and the sold price for many of these homes, that gap is closing slowly but surely. What this means for you is that you don’t have much time to take advantage of this current buyers’ market. If you want to own a condo in Trump Palace, now is the time to make your move.

Lots of Luxury oceanfront Condo for the Money

Most of the units can be purchased for less than $1,000,000, with some priced below $500,000. There are quite a few that are large enough and luxurious enough to bring $2,000,000 or even more, though. The prices may look a little steep to some, but there is a lot of luxury included in the purchase of a new home at Trump Palace. You’ll be able to enjoy views of the ocean from almost anywhere in your new home. There are also amenities that will make your life so relaxed and fun, such as swimming pools, fitness centers, private beach access, and a staff trained for service and security. You really will get a lot for the price you pay.

Let Us Help You Achieve your Miami real estate Goals

If you’re ready to make Trump Palace your new home, now is the time to act. You don’t want to wait too long and miss out on the last of the buyers’ market. Our qualified and experienced agents know all about selling homes in condominium complexes, and we’d love to help you choose the right residence for your wants and needs. We can help you negotiate the price, which is necessary if you want to get the best deal. We’ll also make sure you understand everything involved in owning a condominium, including additional fees and regulations. Finally, we’ll help you straight through the closing process, which can be a nerve-wracking experience. You won’t need to worry about a thing when you allow our agents to help you get the home of your dreams at Trump Palace in Miami.

There is no doubt that the state of the economy has had an effect on home prices all over the country, and the condominium units in Jade Ocean Sunny Isles were certainly victim to this development. For about a year or two, even this most prestigious address experienced few sales, but this trend is changing. It’s true that the recession is slowly coming to an end, with particular areas of the country experiencing better market conditions than others. Miami real estate has been and always will be a coveted address, and that fact is all too clear with the recent sales records for Jade Ocean.

Living in Luxury Ocean Front Condo in Sunny Isles

One of the reasons these condos are so coveted is the sheer luxury that residents can experience. Living here is like living in a resort, with amazing residences, fun and helpful amenities, and some pretty amazing views of the ocean from almost every vantage point. Inside the units, those who live here can enjoy designer touches, upgraded lighting, gourmet kitchens, and bathrooms with a spa-like atmosphere. To top everything off, there are picture windows and terraces that bring the beauty of the ocean into the home. It’s paradise, and it’s still more affordable than it was five years ago. With the current purchases taking place, it’s clear to see that this buyers’ market will come to a close soon, and that means prices are already starting to creep back up.

As of December of 2011 Jade Ocean Condos Are Completely Sold Out!

Jade Ocean Miami experienced a jump in sales throughout 2011 with help from Brazilian and South American buyers. However, there are quite few resale units currently available. Of the ten units that were sold, the least expensive unit sold at $820,000. It’s not unusual to see these units command prices over $1,000,000, with some of the most luxurious calling for more than $4,000,000. As you might imagine, there is a great deal of prestige associated with the purchase of one of these condominium residences, with amenities you’ll love. Your purchase will gain you access to swimming pools, a private beach, service and security from a well-trained staff, and a living space that will pamper you beyond your wildest dreams.

It’s not too late at all to take advantage of the buyers’ market that still exists. We have the number one selling team in Miami! Our trained and qualified real estate agents would be more than happy to show you the differences in prices over the last few years so that you can see how times are certainly changing. With the higher prices looming in the near future, you may decide that right now is the time to buy. We’ll help you find that perfect condominium unit, negotiate the price, walk you through the policies associated with living in a condominium, and carry you right to the closing table.

Your Purchase Is an Investment In The Future

By purchasing now, you’ll avoid the eventual higher prices, which will give you something of an investment to keep. There is no question that prices will continue to rise, and that means you’ll be in possession of a very lucrative asset when you purchase a residence in Jade Ocean. Let us help you make that dream a reality.

Check out sister property Jade Beach to find good deals for oceanfront condos in Sunny Isles Beach.

Prices for Ocean Four Sunny Isles condos

are still down considerably since the all time high in 2007. However, with all the furor surrounding the current economic environment, it’s no wonder that people are a bit shy about buying something as large as a new home. This is especially true for vacation properties or any homes that might be considered a luxury and not a necessity. There is no denying that the condos in Ocean Four would fit the luxury description, and so it’s easy to see why sales may have been slow for the past year. All of that is changing as the shadow of the recession slowly slips away. Though there are still troubled times ahead, the worst is certainly over, and there are plenty of clues to support this fact.

Not Too Late to Get Great Prices in Ocean Four

What this means is that the prices for these apartments at Ocean Four will soon start to rise, but it’s not too late to get a new home before this happens. If you take a look at the 14 homes that sold in the Oceans Four community in the last year, you’ll see there is quite a difference between the asking price and the paid price, but that gap is closing quickly. It’s still a buyers’ market, to be sure, but that won’t remain the case for too much longer. The prices are still well over $500,000 for most units, depending on the size and layout, but some can bring in more than $2,000,000. As you might imagine, these prices will rise as people discover they’re ready to make luxury purchases again.

The number of Ocean 4 condos sold

in 2011

is drastically higher than those in the previous years. Since the mortgage crisis and the simultaneous recession, the prices for homes have lowered dramatically, and sales for these homes nearly came to a standstill. Of course, everyone needs a home, so there was some movement in the markets, but for the most part, people were only buying what they needed – not what they wanted. Ocean Four is certainly the type of home that everyone wants, and with the coming changes in the economy, people will be seeking it out. Don’t you want to get in before anyone else can?

More Elegance for the Money

When you live in Ocean 4 Sunny Isles

you’ll get the benefit of many great amenities. In fact, it’s very much like resort living, if that’s your cup of tea. You’ll be able to enjoy the pools and fitness centers, as well as private beach access. The home interiors are some of the most beautiful you’ll find in the Miami area. With designer touches throughout, upgraded lighting and countertops, and top-of-the-line appliances, Oceans Four brings you luxury on a more affordable level than some of the other complexes in the area. Though it’s more affordable, that’s no reason to believe it’s less elegant.

Let Us Help You

If you’re interested in learning more about the prices at Ocean Four and how you can take advantage of them, you can contact one of our qualified real estate agents at Sunny Realty. Please call toll free today – 1.877.368.2318 and we’ll be glad to show you the units that fit your wants and needs and then help you through the negotiation process.

Next year the Acqualina Condo in Sunny Isles Beach

will launch a residential spinoff of a new ultra-luxury 46-story luxury condo tower Mansions at Acqualina, set on 6.75 acres of beachfront lot in Sunny Isles, next to Acqualina Condo & Resort. The project will offer 79 exclusive oceanfront villas, all directly facing the ocean, topped by a $40 million, 16,000 square foot penthouse. This will be the first penthouse of a kind and size in Sunny Isles.

The Trump Group (not to be confused with Donald Trump) – a South Florida developer is proposing a new 46-story luxury condo tower immediately south of the existing Acqualina Ocean Residences & Resort condo at 17885 Collins Ave. and is slated to be constructed at 17749 Collins Ave. in Northeast Miami-Dade County, according to an application filed with the city of Sunny Isles Beach.

The proposed Mansion at Acqualina

with nearly 427,000 square feet of luxury residential condos is scheduled to be discussed at upcoming city of Sunny Isles Beach zoning hearing on Dec. 22, 2011, according to a public notice advertised in the Miami Herald.

Developed in 2006, the original Acqualina condo project is a 50-story tower with 247 residential units that sold out for more than $290 million in June 2009. The newly proposed Mansions at Acqualina is one of the four condo towers planned for Sunny Isles Beach, according to recent issues of the Market Intelligence Report.

Overall, developers are proposing 20 new towers with more than 4,000 units near the coast in the tricounty South Florida region. In addition to the four proposed towers in Sunny Isles Beach, developers are planning 10 new towers in Greater Downtown Miami, two new towers in Miami Beach, two new towers in Downtown West Palm Beach, one project in the Miami-Dade County city of Aventura, and one project on the sand in the city of Hollywood in Southeast Broward County.

Sunny Isles Beach is a 40-block stretch from the city of Golden Beach boundary south to Haulover Beach Park, Biscayne Bay east to the Atlantic Ocean. Sunny Isles Beach is divided up into three neighborhoods separated by causeways: North, Central, and South. As of Dec. 12, 2011, there are nearly 375 new Sunny Isles Beach units – created since 2003 – on the resale market at a median asking price of $515 per square foot, according to an analysis by the licensed Florida real estate brokerage Sunny Realtyâ„¢.

The new Porsche Design Tower condo in Sunny Isles Beach

will be all glass, soaring 57 stories technological wonder with a $650 million price tag. This development will be the product of Gil Dezer and German Porsche Design Group.

With the Jetsonesque idea for parking, this latest proposed condo development will have a new, one of a kind twist for your “designer parking space” where the owner will pull over into the designated parking space, turn the the engine off and the all glass elevator will take you to the front of your door while you’re still sitting in your car.

“You don’t have to leave your car until you are in front of your apartment,� said Juergen Gessler, CEO of Porsche Design Group.

Here is how it will work: After the resident pulls over and switches off the engine, a robotic arm that works much like an automatic plank will scoop up the car and put it into the elevator. Once at the desired floor, the same robotic arm will park the car, leaving the resident nearly in front of his front door.

The glass elevators will give residents and their guests unparalleled views of the city or of the ocean during their high-speed ride, expected to last 45 to 90 seconds.

“What this is really doing is taking two technologies that have existed for centuries and putting them together,� said Gil Dezer, president of Dezer Properties. “It’s taking the robotic arm and it’s putting it in an elevator.�

The building, to named Porsche Design Tower, was approved unanimously Thursday night (November 17th, 2011) by the Sunny Isles Beach City Commission. Before the meeting, Mayor Norman S. Edelcup said he had not heard any opposition to the plan.

The cylindrical building will be erected on 2.2 acres of land at 18555 Collins Avenue. The 57-story luxury tower will have 132 units. Smaller units will be allocated two parking spaces and larger ones will have four, with 284 robotic parking spaces in total. There will be three elevators.

Residents will be able to see their cars from their living rooms.

“So people with fancy cars and antiques, they will actually have a really nice view of them,’’ Dezer said.

Units will range from 3,800 to 9,500 square feet and could cost up to $9 million.

The car elevators are the latest twist on Miami Beach’s burgeoning passion for designer parking garages. The highly acclaimed 1111 Lincoln Road designed by Swiss architects Herzog & de Meuron opened in 2009; also planned are garages by London architect Zaha Hadid, Mexico’s Enrique Norten and Miami’s own Arquitechonica.

Dezer said his hopes are that many other buildings in the United States and the rest of the world will be constructed following the Porsche Design Tower Sunny Isles model.

But this will be the first and last one in South Florida, he said.

“We want to keep this really exclusive and not have this become a McDonald’s kind of style. The tower is going to change the skyline of Miami Beach,� Dezer said. “This is something Floridians should be proud to have in their state.�

Sunny Isles Condos Sales

jumped almost 70% (that’s right seventy percent) when comparing to last year’s 3rd quarter. There were 175 condos sold in Sunny Isles Beach within the 3 month period from July to September for a total of $114 million which is 105 transactions more for the same period last year.

Sunny Isles Beach

is projected to sell out of new condo inventory in the next 12 to 15 months according to the number of projected transaction reports in the first three quarters of 2011.

Developers Propose Construction Of Four New Condo Towers In Sunny Isles Beach

Recently major real estate development groups have proposed the construction of at least four oceanfront condos in Sunny Isles Beach

Developers of all four proposed towers have approached the city of Sunny Isles Beach with their respective plans, the city’s attorney Hans Ottinot said.

Each of the proposed projects – with a combined 648 units – is currently categorized as “planned,â€� “under construction,” or “planned / active” on the city of Sunny Isles Beach’s “Existing & Planned Developments” list, according to a February 2011 report posted on the city’s website as of Nov. 3.

At the current 2011 sales pace of nearly 45 new condo transactions per month, the unsold developer units in Sunny Isles Beach would be absorbed by the end of 2012, according to an analysis based on the Condo Buyers Guide To Sunny Isles Beach.

Given the shrinking inventory of developer units from the real estate boom, Sunny Isles Beach is poised to follow the emerging South Florida trend of new condo construction as 13 towers with nearly 3,500 units are already being proposed for the tricounty region of Miami-Dade, Broward, and Palm Beach as of Oct. 31, 2011.

The new ultra-luxury Regalia condo tower is proposed as one unit per floor and will be one of the first new Sunny Isles Beach project to launch pre-construction sales since the recent downturn in the Florida real estate market. The 42 story Regalia building is projected to start selling at more than $1,000 per square foot which will be a test of the newly improved Sunny Isles Beach real estate market.

The are as many as six additional projects being proposed in Sunny Isles – five condo towers and one townhouse community, all in various stages of planning development and currently categorized as “planned / active,”.

The six new residential projects, as originally proposed, are slated to create more than 450 condo units and townhouses in Sunny Isles Beach, according to the government report.

Overall, the South Florida condo boom has generated nearly $4.1 billion in developer sales of newly created units in Sunny Isles Beach as of Sept. 30, 2011.

Between 2003 and the third quarter of 2011, developers have sold nearly 5,700 condos with more than 9.2 million square feet of space, according to the report.

Sunny Isles Beach is a 40-block stretch from the city of Golden Beach single family homes boundary south to Haulover Beach Park, Biscayne Bay east to the Atlantic Ocean. Sunny Isles Beach is divided up into three neighborhoods separated by causeways: North, Central, and South.

Developers created 27 projects with nearly 6,400 units in the Sunny Isles Beach market since 2003. Prior to the boom, developers had built nearly 60 projects with nearly 12,000 units in Sunny Isles Beach.

Being a broker of Sunny Realty and providing one of the most used resource for Miami real estate (http://www.sunnyislesmiamirealestate.com/) I’m often asked: “how’s (Miami) real estate these day?”. Unfortunately I can’t just answer this question simply – “good” or “great” or “better”. When I start to explain that Miami basically has the best and worst real estate in the country, people think I’ve gone nuts and trying to sell them a story. However, here is The New York Post recent article By ANDY WANG.

Summer was hardly a vacation for those in the business of selling Miami condos.

“I didnt go to St. Tropez because of this”, says developer Gil Dezer, whose Sunny Isles Beach condo projects include the 384-unit Trump Royale and the three-building, 813-unit Trump Towers.
Dezer reports that he sold more than $100 million in Trump units during June, July and August ($50 million alone in August, including a $29 million, 34-unit bulk deal). He has closed more than $1 billion in Trump condos overall and has only about 75 units left.

Recent Trump Towers Condos sales

have been priced at about $525 per square foot. Thats significantly less than the $1,000-per-square-foot contracts buyers walked away from in 2009 after the financial crisis hit, but Dezer, whos paid off the construction loans for all four buildings, seems satisfied. (Donald Trump participated in a ceremonial Trump Royale condo mortgage-burning ritual, lighting the document on fire himself, in January.) The downturn made the job challenging, Dezer says. Every day was a battle. But when youre winning, its fun.

Winning could also be used to describe the situation at Icon Brickell. That nearly 1,800-unit downtown colossus, built by the Related Group with designs by Philippe Starck, seemed to be in peril not long ago, and two of its three towers were deeded back to its lenders in May 2010. But Icon Brickell Condos now nearly sold out, with more than 1,500 units closing for a total of more than $700 million. When you factor in units in contract, only about 30 condos remain.

I think the market has consumed the inventory in a much more rapid way than I and probably everybody thought, says Related Group chairman and CEO Jorge Perez, who adds that most buyers have been foreign. The Latin American economy has been strong.

The forecast was that we would sell all the units in three years at an average price of $350 per square foot, says Edgardo Defortuna, president of Fortune International Realty, which started selling Icon Brickell apartments in June 2010.

Less than a year and half later, Fortune is almost done and seeing prices at about $400 per square foot.

Demand has been so strong that Perez is now building another downtown development. The 192-unit MyBrickell is a couple years away from completion, but Relateds received over 60 reservations for condos before officially launching sales. Unlike Icon Brickell, MyBrickell isnt on the water, and Perez is passing on the cheaper construction costs and the deal we got on the land to offer units, with interiors by Karim Rashid, for about $300 per square foot.

Defortuna, meanwhile, is now selling downtowns Paramount Bay, a 346-unit building resurrected out of foreclosure by owners iStar Residential and ST Residential. Musician Lenny Kravitzs Kravitz Design firm is working on the building, where prices are about $400 per square foot.

South Beach real estate

with significantly pricier properties, is seeing lots of action, too. The summer was uncharacteristically busy, says Lana Bell, president of Sunny Realty, which has an office in South Beach and Sunny Isles Beach. We certainly didnt take a vacation.

According to Sunny Realty latest Miami market report, South Beach condos sold for an average of $515 per square foot during the third quarter. But this factors in distressed properties, including units bought out of foreclosure.

At the markets top end, the W South Beach Hotel & Residences has closed about $260 million in condos at an average of $1,700-plus per square foot, developer David Edelstein says. The W South Beach sold more than $50 million during the summer. One penthouse went for $7.7 million, north of $3,000 per square foot, Edelstein says.

As with much of Miami, foreign buyers have been key at the W. (Douglas Elliman translated its market report into Spanish and Portuguese to spur international interest.) From May through September, about 65 percent of Edelsteins purchasers were foreign, and about half of those were from Brazil.

The allure of the W has helped nearby condo buildings lure in buyers, including those from New York.

Fashion designer Irina Shabayeva, who won season six of Project Runway, owns a one-bedroom with a balcony at the 52-unit Boulan South Beach development just south of the W, but on the other side of Collins Avenue.

I like the Boulan because it was so new, really fresh and modern, says Shabayeva, who primarily lives in the East Village. And its across the street from the beach and the W.

Shabayeva says she enjoys the New Yorker-friendly amenities at the W, which include a Warren Tricomi salon and a Mr. Chow restaurant. And Edelstein says that the Dutch, an outpost of Andrew Carmellinis SoHo restaurant, will open in the W by Thanksgiving.

Boulan, which has sold 22 condos and has one-bedrooms on the market for upward of $600 per square foot, is busy filling its own retail spaces, as well. An art gallery should open in time for Decembers Art Basel festival. A Mexican/Asian fusion restaurant and a nightclub are also in the works.

Neighborhoods all over Miami are getting big residential and retail makeovers. The 56-acre Midtown Miami developments second phase, which will start next year, will include a boutique hotel, a movie theater and 100,000 square feet of retail.

Well definitely have a fashion component, says developer Jack Cayre.

And the nearby Design District is getting a Louis Vuitton store.

There was probably a point in time here someone said, Whats Chelsea? or Whats Meatpacking? and eventually, they became a place because New York was ready to have another place, says Greg Masin, senior director at commercial real estate firm Cushman & Wakefield. When we look at the Design District and at Midtown, what we see is the evolution of the next place in Miami.

Plus, the downtown Metropolitan Miami developments third phase will include rental apartments and a Whole Foods Market. Plans for downtowns eight-block Miami Worldcenter site include residences, restaurants and retailers. And the Genting Group, an Asian casino operator, has unveiled plans for its $3.8 billion Resorts World Miami mixed-use complex. But the scope of the latter two projects will depend on approval for casino gaming, something thats the object of much speculation and uncertainty all over Miami.

Dezer says he has been talking to major Las Vegas casino operators about land he owns in Sunny Isles (13/ acres on the beach and 6/ acres directly across the street that hits the intracoastal waterway) that could accommodate a gaming resort with more than 2,000 rooms and 3 million square feet.

They’re both good real estate, Masin says of the Genting and Dezer sites. If they both had a casino, theyd both be successful.

Whatever happens, Dezer has options.

We originally bought [the land] to build condos, he says. We could build five condo buildings.

That idea would have seemed ridiculous in 2009, but now its more plausible.

Defortuna has sold out the 256-unit Jade Beach condo building in Sunny Isles Beach and has just three apartments left (for about $700 per square foot) at its 252-unit Jade Ocean sister property.

In terms of quality inventory, oceanfront, he says, you can make a strong argument that you need to start building now.

Originally published by ANDY WANG.

(c) 2011 The New York Post. Provided by ProQuest LLC. All rights Reserved.

As a professional real estate broker in Miami

I have to deal with clients who are interested in renting and since Miami is a seasonal resort town, there are always people interested in renting short and long term. This is especially true this year as the number of people interested in renting an apartment in Miami have doubled.

Great article was published today in Miami Herald. You can read it below or click the link to read it at Miami Herald: http://www.miamiherald.com/2011/10/21/2464773_p2/south-florida-rents-rise-as-international.html

With continued investment fueled largely by foreign buyers, demand for Miami apartments is growing, meaning increasing residential rents, according to the Miami Herald. “I talk to a couple of investors all over South America and they tell me they buy Miami condos and it takes them about a week to rent them. “Each and every month, the rents are going up.” According to data from the Texas-based MPF Research, rent prices have gone up by between 3 and 7 percent this year. And with a steady stream of foreclosures on the way, the rental trend is likely here to stay.

With occupancy rates in Miami as well as South Florida above 95 percent and the rent prices risen between 3 and 7 percent, at least 160,000 homeowners either in foreclosure or so far behind on payments that an eventual foreclosure appears inevitable, the region’s rental market is likely to see growing ranks of new renters for the foreseeable future. As a result, more so-called “vulture investors� will seek hefty profits by buying up distressed property and converting them to rentals.

“We bought a two-bedroom in Kendall in May for $50,000. We invested $10,000 in repairs, and then rented the unit for $1,200 [a month],� Leon de Vega, a South American real estate investor. “We just closed the sale of the unit for $95,000.�

In addition to the rising Miami rentals market, international investors are drawn to South Florida real estate because the U.S. offers greater legal protection for foreign land owners than many other countries, and because some homeownership can make it easier to obtain a U.S. visa.

Growing investor appetite is driving sales for Miami luxury condos and waterfront single-family homes in Miami back to the boom time levels of 2005 and 2006. In Miami-Dade County, for example, total sales are expected to reach 29,000 this year, more than 2005’s total.

Despite the recent value declines homeowners have experienced during the recession, homeownership has proved a smart investment over the last several decades, with home values rising about 5.4 percent annually on average. The growing crop of renters is not able to benefit from that investment.

Additionally, the idea of saving money as a renter so that you can put together a down payment in the future is not viable for many cash-strapped South Floridians trapped between high rental rates and low wages.