Singer Island FL

Finally, a positive news items regarding real estate

Catalfumo Construction and Development, Inc., Visionary behind and general contractor for the 2700 North Ocean condominium on Singer Island report buyer closings ARE taking place in this newly completed oceanfront development.

The project includes luxury condominiums with prices in excess of $1 million per residence. President and Founder, Daniel S. Catalfumo commented, “Singer Island is a pristine oceanfront location. With each project we facilitate, we capitalize on what can only be called a world-class destination.” He continued, “I am pleased that we were chosen on the basis of our commitment to safety, construction excellence and quality—not price!”

The developer reports about 50% are sold despite the real estate down turn.
Now that is good news!

Wilmington North Carolina

metropolitan area scored high (2nd Place) on the Milken Institute / Greenstreet Partners 2007 Best Performing Cities Index, landing the number 2 spot.

N.C. POPULATION SURGES AGAIN, INTO TOP 10 IN NATION 8,856,505.00 (Source: Charlotte Observer 12-22-2006)

Continuing waves of newcomers from the Northeast and other regions boosted both Carolinas in the ranks of the nation's most populous states in new U.S. Census Bureau data being released today. North Carolina passed New Jersey to become the nation's 10th most populated state. And South Carolina, which broke into the ranks of the nation's top 10 fastest growers...

Complete Story... PR LEAP recently published a report that indicated that North Carolina is one of 17 states still appreciating strongly, and one of the only seven in the South. The report 2006, Seventen States Real Estate markets Still Appreciating, Southern states are "experiencing the largest migration of new residents in history." Brunswick County is ranked # 1 in all the Carolinas for price appreciation. We have seen prices in selective developers communities increase around 25% each year, over the last few years. Sales volume has increased in the range of 55% over last year. The luxury high-end, Second Home market in this area is hot! Based on current prices, area historical data and future trends, we think the area has a lot of upside potential and is currently undervalued. We also see record sales from various communities in the area, further establishing a new minimum level of $220,000 (lot's & home-sites) and up for the Brunswick County area.

News Flash: A new commercial megaplex has just been given County approval to go Along HWY 211. This new complex will house shopping, retail and restaurants taking up more space the 7 Super Wal-Mart stores. It will be located beside the new bridge accessing the south end of Oak Island. The construction of this new bridge, by the way, will mean that the area communities will now have 2 beaches just 12 minutes away. Complete story... News Flash: Proposed International Port “We are very early in the process, but this is a key step toward our goal of building a major new economic engine for North Carolina,” said Tom Eagar, ports authority CEO in a post-meeting release. “The N. C. International Port will provide a ‘missing link,’ a gigantic boost to economic development to attract the major manufacturing and assembly plants which require access to deepwater port facilities with global service coverage.”


"The economic boom to the county will be unheard of" Brunswick County Economic Development Director, Steve Johnson

Miami Beach FL

Miami Beach Home Sold Above Market Price

101 E Dilido Drive, Miami Beach, Florida recently sold for $2,750,000

Homes are still selling on Miami Beach, albeit at a snails pace in comparison to home sales just a few years ago. There is a light at the end of the tunnel, however, and the recent sale of a very quaint Miami Beach home located on Dilido Island should be very inspiring to sellers who want to be reasonable, and who are willing to ask a fair price for their home.

The phenomenon known as 'asking a fair price for your home' has been absent from the Miami real estate market for a number of years. What is happening now in the market place is just more evidence that Sir Isaac Newton was a genius, when he discovered the natural law of science which basically states that what goes up must come down. He didn't invent that law. He just discovered it.

The waterfront property located at 101 E. Dilido Drive, recently sold for $2,750,000. The 4 bedroom, 3 bathroom home is situated in one of the very best areas of Miami Beach, and is set on a 10,500 square feet lot, with 2,669 square feet of living space in the house. The sale is one of the best that has taken place in this depressed real estate market, with regards to price per square foot, because the home closed for more than $1000 per square foot, when other similar luxury homes are selling for much less.

Posted by Miami Real Estate

Boston’s North Shore Real Estate

Boston’s North Shore High-End Residential Real Estate Hit Record Sales

Boston, MA – Feb. 8, 2008 — While the resonant refrain of the mass media is of a real estate market in turmoil and distress, some high-end markets saw unprecedented activity in 2007. One such market is that of Boston’s North Shore.

In comparison, 2007 was a better year for luxury real estate in the North Shore than in 2006. The lower tier of the high-end market slowed down only slightly whereas the $4 million plus segment of the market had grown twofold. According to Multiple Listing Service (MLS), in 2006 six listings were sold for $4 million or more but in 2007 that number more than doubled to 15.

“2007 represented a record year for high-end residential sales on the North Shore. The perception of a down market brings out buyers for grade A properties,” explains Lanse Robb, principal at LandVest and the highest producing broker for residential real estate sales in 2007 in Essex County, Massachusetts.

According to sales data from the MLS and Banker and Tradesman, Robb achieved a 2007 sales total of $32,300,000. Robb’s average sales price was $3,318,750, closely aligned with his average listing price of $3,507,500.

Among the high-end residential sales on the North Shore to Robb’s credit were:

• An ocean-front estate in Manchester, MA which sold for $8,000,000
• A record sale in Gloucester, MA of a water-front property for $4,500,000
• A record sale in Ipswich, MA of 100 acres, two adjoining lots for $3,000,000

With record sales in 2007 for the high-end market, it is time to look toward 2008. “Activity should continue through 2008. The key to success in 2008 will be the ability to manage both seller’s and buyer’s expectations,” says Robb.

MLS is a database which allows real estate brokers representing sellers to share listings, information and statistics regarding properties for which they have a listing contract. To share listings brokers must be members of MLS and the National Association of Realtors.

Banker and Tradesman is the leading publication on banking and real estate in New England.

LandVest, Inc., (www.landvest.com) was founded in 1968 to provide a broad array of services to owners of significant real property assets. With offices throughout the Northeast, including professionals in real estate sales, land planning, forestry services, advertising, business and finance, LandVest has become the premiere advisor and problem solver for owners of unique properties.

Miami Fla and Surroundings

by: ines on March 06, 2008 00:54:04 2 comments »

This is a Miami Real Estate Market Report for the months of January and February 2008. I can personally say that I've seen more movement, a lot more showings and more pending sales, but let's see what the numbers say. I'm using the same form I used last month, since it was such a big hit.

Miami Shores Real Estate Market Report

There are currently 228 listings in Miami Shores: (keep in mind that a lot of agents are keeping their Pending Sales on Active.....not good for these studies)

• Highest priced listing is $3,250,000
• Lowest priced listing is $227,000
• Pending Sales (Properties under contract):13
• Closed sales in January & February 2008: 8 (5 of these in February)
  

The highest closed sale was $700,000, then $668,470 and the rest under $500k - next month's number should be impressive, taken into consideration the amount of pending sales that are not appearing on the MLS.

Bay Harbor Islands Real Estate Market Report

There are currently 17 single-family home listings in Bay Harbor Islands: (one more from last month)

• Highest priced listing is $5,200,000
• Lowest priced listing is $575,000
• Pending Sales (properties under contract):2
• Closed sales in January and February 2008: 0

There may not be much movement in Bay Harbor Islands real estate, but it remains one of the most stable communities because of the minimal transient traffic.

Surfside Real Estate Market Report

There are currently 82 single-family home listings in Surfside:

• Highest priced listing is $8,000,000
• Lowest priced listing is $379,000
• Pending Sales (properties under contract): 4 (same as last month)
  
• Closed sales in January & February 2008: 3 (for $415,000 and $365,000 and $508,000).

Surfside real estate is pretty stagnant at this point, but still remains a "walkable community" where the beach is your backyard.

There are currently 237 condo listings in Surfside: (as compared to 238 last month)

• Highest priced listing: $2,600,000
• Lowest priced listing: $168,000
• Pending Sales (properties under contract):10
• Closed sales in January & February 2008: 3 ($173,000 at 9140 Collins Ave Condo - $688,500 at The Waverly and $744,000 at Solimar)

If you gave me a choice of beachfront condos, I would buy in Surfside. The density of the buildings is comfortable (12 stories max) and the beach is superb. Only 3 sales this year means you would be able to buy for a good price.

Fisher Island Real Estate Market Report

There are currently 97 listings in Fisher Island: (no change)

• Highest priced listing: $13,500,000
• Lowest priced listing: $449,000
• Pending Sales: 0
• Closed sales in January & February 2008: 1 ($4,000,000 at Bayview at Fisher Island - no sales in February)

Fisher Island is still one of the wealthiest zip codes in the US. - sellers know to be patient and their market remains very stable.

Aventura Real Estate Market Report

There are currently 2362 condo listings in Aventura: (10 less than last month)

• Highest priced listing: $36,500,000 <----this is a funny typo (I wonder how long it will take the agent to sell that listing) the highest listing is $6,000,000
• Lowest priced listing: $97,500
• Pending sales: 136 (22 more than last month)
  
• Closed sales in January & February 2008: 84 (more than double from previous month - ranging from $3,600,000 to $59,000)

There's something for every budget in Aventura - from fabulous The Point to smaller 55+ communities. Aventura's real estate market remains HOT and its residents love the proximity to the ocean and central location. There are a lot of new condos just obtaining their certificate of occupancy which means more inventory for the area.

Biscayne Park Real Estate Market Report

There are currently 55 single-family listings in Biscayne Park: (4 more than last month)

• Highest priced listing $975,000
• Lowest priced listing $249,000
• Pending sales (properties under contract):1
• Closed sales in January & February 2008: 1 for $353,000 (no closings in February)
  

Last month we said "There has not been a lot of movement in Biscayne Park and the inventory is slowly increasing every month", exactly the same applies this month.

El Portal Real Estate Market Report

There are 61 listings in El Portal: (5 more than last month)

• Highest priced listing is $945,000
• Lowest priced listing $248,000
• Pending sales (properties under contract):2
• Closed sales in January & February 2008: 0

El Portal is suffering one of the most difficult real estate markets with no sales and a lot of inventory. To think that you can see peacocks walking around at times.

**all information obtained from the SouthEast Florida Multiple Listing Service**

New Hampshire Oceanfront Home Sales

Recent Seacoast Luxury Home Sales More Or Less On Par With Winter 2006 - 2007

by Michael Bean

Seacoast Luxury Homes - The Million Dollar Plus Market

In the last ninety days there were ten seacoast homes that sold for a million dollars or more. Half a dozen homes sold in the $1MM to $1.25MM range including two homes in New Castle, two sales in Rye, a sale at Mill Place in North Hampton and a waterfront home in Dover. In Portsmouth a recently renovated downtown residence eclipsed the $1.3MM mark, an oceanfront home in Hampton went for $1.75MM and a classic North Hampton home with views to the ocean saw $2.2MM. An estate in North Hampton changed hands for $4,000,000 in December. This is more or less on pace with activity in the same period a year ago, when there were twelve homes that sold in this price range. The seacoast currently has a single pending sale over the million dollar mark for a home in Rye.

A glance at today’s inventory reveals sixty-one luxury properties for sale on the seacoast that top the $1,000,000 mark. Two thirds of the luxury inventory is in New Castle, Rye, and North Hampton - but a Portsmouth residence lays claim to the pricing pinnacle with a listing price of $9.5MM. Twenty-three of the properties for sale have reduced their asking price from the initial offering price by an average of ten percent.

Seacoast Luxury Properties Under One Million Dollars

There are 48 Seacoast homes on the market with asking prices between $750K - $999,999. Four homes have pending sales contracts - two new construction homes in Newfields, a North Hampton home in Country Club Estates, and a house at the beach in Hampton.

In the last ninety days there were eight homes that sold in this price range, including three in Rye, a newly built home in Newfields as well as one in Greenland, two in Hampton Falls, and a waterfront home in Durham. Activity in this price range is up a little over the same period a year ago when five homes sold in this price range.

Based on information from the Northern New England Real Estate Network, Inc. for the period November 9, 2006 to February 9, 2008.

San Diego Area Values

Values in the San Diego area are down from a high of $2.19 million in the second quarter of 2007. The 1.4% drop in the fourth quarter was the region's second consecutive quarterly decline. In December 2006, the averageLuxury Home was $2.15 million.

Despite the declines, some agents said the market has not fallen substantially. "We're not seeing wholesale price reductions," said Lucy Kelts, Prudential California Realty in Rancho Santa Fe. "If something is listed fairly, there is room to negotiate and make good deals. Inventory is also shrinking and builders are not breaking ground on any new projects. When the inventory levels out, buyers who have been waiting may not find a lot to choose from."

In northern San Diego County, the market has slowed somewhat, but interest in beach properties remains high. "There are a lot of buyers with the means of buying second homes, and they want real estate close to the ocean," said Wendy Ramp of Prudential California Realty in Del Mar. "Homeowners can walk to everything they want in Del Mar – restaurants, beach and shopping. That's why it remains so attractive."