Hello friends, it’s April 15th Tax Day!! I’ve been so busy with real estate I’ve made no time for blogging… I can attest that consumer confidence is on the rise with Miami Dade “Beaches” showing sales increases at 20% over last month while Miami Dade 71% (condos YTD) over this time last year! The REO’s have become hard to catch with multiple offers and delay strategies used by the bank representatives while they collect offers. Properties that used to sell for $800k (oceanfront) priced as low as $350k (ie. La Gorce Palace). In between, I’ve also been busy finally obtaining my Broker’s license through the State of Florida, having my 32nd Birthday and doing many new deals from multiple luxury rentals to 5 pending offers on condos to even negotiating a commercial property on Biscayne Boulevard.

It’s refreshing to see strong activity and a majority of factors in favor of a stable market, I see a halt on price depreciation by 4th quarter… { Miami Beach }. I don’t relay what’s happening in Miami Dade County (Downtown Miami Blog) but more so on a local specialty area of the Miami Dade Beaches. The Jade Condos Sunny Isles website and blog are getting loads of attention but I have yet to take on a listing to market. Maybe this is a good thing as seller expectations have now (are now catching) caught up with true market values (or at least in the right direction for sales activity). JADE Beach Unit 4008 is a deal and will sell soon.  The MiamiDreamRealty.com website has climbed very high on the search engines with over 20,000 visitors each month and ranking very well organically for Sunny Isles Real Estate, South Beach FL real estate, South Beach FL Condos, Miami Beach FL Condos, Bal Harbour Real Estate and so many more keywords. I’ve got big goals and plans in store for each website and blog this year and a new collaboration with a trusted colleague as we build a blogsite for what will soon be the most desirable condo hotel… More coming this month. Here’s a short video clip of a unit which sold in 2007 for $1.450M and is now on the market at a fraction of the price (under contract).

South Beach to Sunny Isles Real Estate Consultant, Micro Economist. If you’re thinking of placing your luxury estate on the market, contact me for a marketing overview and pricing band analysis to determine the proper selling price. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper right column) or by email above every time a new posting occurs. Preview the JADECondosSunnyIsles.com website exclusive to Jade Beach & Jade Ocean Condos! Have a great week and call any time toll free 1.888.383.7326 or view new condos here.

Paramount Beach

In the last 6 years, We’ve watched the great majority of new modern towers being completed along Sunny Isles Beach with a few of my favorites including JADE Beach & JADE Ocean Condos, Trump Towers I, II, III, Sayan, Turnberry Ocean Colony, Trump Royale, Trump Palace and the Trump Int’l Beach Resort, and with so many great buildings, only a few along the ocean that have gone belly up. The first being the Da Vinci parcel sale & cancellation and now the unexpected news of Paramount Beach (Not to be confused with Paramount BAY). iStar FM Loans filed a foreclosure lawsuit against the developer a few days before Christmas.

Reported in the South Florida Business Journal on January 2nd, 2009the Paramount Beach condos beachfront site has a foreclosure filing in Miami Dade County Circuit Court against Boca Raton based Sunny Isles Development Co., a corporation owned by the executives of Royal Palm Homes plus several other investors, which owns the site.

Sunny Isles Development bought the site for $25 million in 2003 and took out a $32.2 million mortgage with Fremont Investment and Loan, which later assigned much of its portfolio to iStar.

Daniel Kodsi, CEO of Royal Palm and a partner in the ownership of the Paramount Beach site, said the developer purposefully stopped paying interest on the iStar loan because the lender was being inflexible in offering a renewal. Even after getting an offer for a construction loan, the developers canceled the Paramount Beach project in 2006 because there was too much building in the market, Kodsi said.

My opinions: They were smart to cease the Paramount Beach project from being erected. They were set to go up just south of the new luxury developments JADE Beach & JADE Ocean Condos (tough competition) but with pre construction pricing starting too late in the game for a sell out. I remember the hype only starting at the very end of the real estate frenzy. They were smart enough to see what was happening along the Miami oceanfront real estate market and decided to hold this premier land parcel.  If the Bal Harbour land parcel is “supposedly” worth $225 Million and closes anywhere within a fraction of the asking price, then this Sunny Isles Beach land will be well worth the long term hold.

South Beach to Sunny Isles Real Estate Consultant, Micro Economist. If you’re thinking of placing your luxury condo residence on the market, contact me for a marketing overview and pricing band analysis to determine the proper selling price. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper left column) or by email above every time a new posting occurs. The new JADE Condos Sunny Isles.com is now available! Have a great week and call any time toll free 1.888.383.7326 or view new oceanfront condos here.