NOW Bienes Raices Real Estate Magazine OCT NOV 2014 by Carolina Mendez

NOW BIENES RAICES 10-‐11, 2014

NOW BIENES RAICES Issue 10/11 2014 ISSN 2334-1971 (ONLINE) Editor & Publisher: Carolina Mendez, BA, Realtor Contributors: Ron Sitarski, Realtor, Mexico K. Yanes, Venezuela Online Distribution: Reported readers in 62 countries.

Editor’s Letter The Real Estate market keeps growing in South Florida, as big investors continue to be the foreign buyers. Constructions are the main attraction as well as units ready to move and enjoy throughout the southern area of the State. In this issue we bring you some of the real estate news. Listings in Florida and in Puerto Vallarta. We welcome cruise experts at Dorian Travel. We also welcome PDI Industries, Real Estate experts in Puerto Vallarta. Our pages are open to listings, articles and ads from all over the world. We have readers in 62 countries.

For Listings and Advertising, contact: Carolina Mendez, BA., Realtor NOW BIENES RAICES, Editor NowBienesRaices@gmail.com (954) 918-3870 WhatsApp +19549183870

NOW BIENES RAICES is published by NOW REAL TIME CORP. It is not responsible for the content, photographs, or for the opinions issued in our articles, or by our interviewees or advertising. The total or partial reproduction of NOW BIENES RAICES is prohibited without prior written consent form the Publisher and Editor. NOW BIENES RAICES es una publicación de NOW REAL TIME CORP. No se hace responsable por el contenido, las fotografías, ni por las opiniones emitidas por nuestros entrevistados ni anunciantes. Está prohibida la reproducción total o parcial de NOW BIENES RAICES sin el consentimiento previo por escrito del Publicista y Editor.

Carta del Editor El mercado de Bienes Raíces sigue creciendo en el Sur de la Florida debido a que los grandes inversionistas siguen siendo los compradores extranjeros. Las construcciones son el principal atractivo así como también las unidades listas para mudarse y disfrutar a lo largo del Sur del Estado. En esta edición les traemos algunas noticias inmobiliarias. Unidades en venta en Florida y en Puerto Vallarta. Le damos la bienvenida a los expertos en cruceros Dorian Travel. También le damos la bienvenida a PDI Industries, expertos en Bienes Raices en Puero Vallarta. Nuestras páginas están abiertas a las unidades, artículos y anuncios de todas partes del mundo. Contamos con lectores en 62 países. Carolina Mendez, BA., Realtor NOW, Editor NowBienesRaices@gmail.com (954) 918-3870

NOW BIENES RAICES 10-‐11, 2014

Contenido Contents Editor’s Letter Carta del Editor Contents Contenido In the News En las Noticias MIAMI Association of Realtors Press Release Miami Listings for Sale and Rent Lista de Propiedades en Venta y en Alquiler Puerto Vallarta Listings for Sale and Rent Lista de Propiedades en Venta y en Alquiler Realtors Carolina Mendez, Florida, USA Evelyn Alcala, Florida, USA Ron Sitarski, Puerto Vallarta, Mexico Advertising AmplexCorp, USA Dorian Travel, USA Garden Center, Venezuela Hispanic and Caribbean Art Gallery, USA Hispanic Translations, USA PDI Industries, Mexico RE P&A Architecture, Venezuela, Panama, Colombia

NOW BIENES RAICES 10-‐11, 2014

MIAMI WESTON DORAL MIAMI MIAMI BEACH AVENTURA BAL HARBOUR SUNNY ISLES BRICKELL

CAROLINA MENDEZ, BA., Florida Realtor

Member of Realtor® & National Association of Realtors (NAR) Premier Global Brokers, LLC digitalcarolina@gmail.com Direct Line: (954) 918-3870 6 NOW BIENES RAICES 10-‐11, 2014

IN THE

NEWS

EN LAS

NOTICIAS Miami Realtors focus on foreign buyers hFp://www.miamiherald.com/news/business/real-‐estate-‐news/arMcle3544478.html Miami Herald, Florida Mortgage rates increase from 2014 los, Freddie Mac says hFp://www.miamiherald.com/news/business/real-‐estate-‐news/arMcle3471413.html Miami Herald, Florida Palm Beach County accepts housing documents electronically. hFp://touch.sun-‐senMnel.com/#secMon/1422/arMcle/p2p-‐81741767/ Sun SenMnel, Florida Housing market improving in South Florida, Freddie Mac says hFp://touch.sun-‐senMnel.com/#secMon/1422/arMcle/p2p-‐81769948/ Sun SenMnel, Florida NOW BIENES RAICES 10-‐11, 2014

MIAMI Home Sales Rise in September By the MIAMI AssociaMon of Realtors Press Release October 21, 2014 Miami, FL – Strong demand for existing Miami properties fueled sales and price growth in September despite strong new construction sales, according to the 33,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. Single-family home prices, which again increased in September, remain at affordable 2004 levels despite 34 months of consistent year-over-year increases for single-family homes. Condo prices also increased in September, marking 39 months of growth in the last 40 months. Condo prices declined in August for the first time in more than three years but rebounded in September. The median sale price for single-family homes increased 11.1 percent, up to $250,000 from $225,000 in September 2013. The average sale price for single-family homes decreased 0.4 percent from $372,191 in September 2013 to $370,880 last month. Compared to September 2013, the median sale price for condominiums increased by 7.3 percent to $195,000 from $181,749 a year prior. The average sale price for condominiums increased 12.5 percent to $355,156 from $315,615 in September 2013. “Strong demand for Miami real estate is fueling healthy market activity for both single-family homes and condominiums,” said 2014 Chairman of the Board of the MIAMI Association of REALTORS Liza Mendez. “New construction condos are also selling rapidly, reflecting all-around robust market performance fueled by both domestic and international buyers.” Sales Rise for Single-family Homes, Condos Single-family home sales in Miami-Dade County increased 5.3 percent relative to September 2013, from 1,107 to 1,166. Compared to September 2013, condominium sales also increased 5.3 percent from 1,353 the previous year to 1,425 last month. Combined, residential real estate sales therefore also increased 5.3 percent to 2,591 compared to 2,460 in September of last year. Miami Real Estate Selling Fast, Close to List Price Miami properties continue to sell at a rapid pace and at nearly asking price, reflecting strong demand. The median number of days on the market for single-family homes sold in September was just 46 days, an increase of 12.2 percent from September 2013. The average percent of original list price received was 95.6 percent, down a negligible 0.3 percent from a year earlier. The median number of days on the market for condominiums sold in September was 59 days, an increase of 28.3 percent compared to the same period in 2013. The average sales price was 93.9 percent of the asking price, a decrease of 2.9 percent. “While greater supply is creating more opportunities for buyers, particularly for condominiums, lack of financing for condominiums and new construction sales are impacting existing sales,” said 2014 MIAMI Association of REALTORS Residential President Francisco Angulo. “The Miami real estate market remains very competitive depending on neighborhood, price point and property type.” National and State Figures Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops also bounced back in September, increasing 2.4 percent from August but remain 1.7 percent below what they were in September 2013, according to the National Association of Realtors (NAR). Statewide closed sales of existing single-family homes totaled 20,792 in September, up 13.5 percent compared to the year-ago figure, according to Florida Realtors. Statewide sales of condominiums totaled 8,622, up 2.0 percent from September 2013. The national median existing-home price for all housing types was $209,700 in September, a 5.6 percent increase from September 2013, according to NAR. The statewide median sale price for single-family existing homes last month was $180,000, up 5.9 percent from the previous year, while that of townhouse-condo properties was $142,700, up 9.8 percent over the previous year. Cash Sales Decline Cash sales in Miami continue to decline as more financing becomes available. Still, access to mortgage loans for condominium buyers remains limited, impeding further market strengthening. In Miami-Dade County, 55.8 percent of total closed sales in September were all-cash transactions, compared to 60.5 percent in September 2013. Cash sales in Miami are still more than double the national figure of 24 percent. All-cash sales accounted for 40.3 percent of single-family home and 68.4 percent of condominium closings, compared to a year earlier when cash sales were 47.8 percent of single-family home sales and 71 percent of condominium sales.

NOW BIENES RAICES 10-‐11, 2014

MIAMI Home Sales Rise in September By the MIAMI AssociaMon of Realtors Press Release October 21, 2014 Since nearly 90 percent of foreign buyers in Florida purchase properties all cash, this continues to reflect the much stronger presence of international buyers in the Miami real estate market. Short Sales Continue to Decrease While traditional sales continue to increase, distressed property transactions in September again declined in Miami-Dade due to fewer short sales. In September, only 34.5 percent of all closed residential sales in MiamiDade County were distressed, including REOs (bank-owned properties) and short sales, compared to 37.6 percent in September 2013. Short sales and REOs accounted for 8.8 and 25.8 percent, respectively, of total Miami sales in September. Sales of REOs increased 24.6 percent while that of short sales declined by 41.5 percent. Nationally, distressed homes accounted for 10 percent of September sales compared to 14 percent in September 2013. Active Inventory Continues to Rise After three years of record sales activity that resulted in an inventory shortage, seller confidence continues to result in more properties being listed for sale in Miami. Active listings at the end of September increased 23.5 percent, from 14,274 in 2013 to 17,480 last month but remain 60 percent below levels 2008, when sales bottomed. Inventory of single-family homes increased 19.7 percent from 5,304 in September 2013 to 6,347 last month. Condominium inventory increased 24.1 percent to 11,133 from 8,970 active listings during the same period in 2013. At the current sales pace, there is a 5.7-month supply of single-family homes, an increase of 16.2 percent from 4.9 months in September 2013, and an 8.1month supply of condominiums, up from 6.3 months in September 2013, an increase of 29.1 percent. A balanced market between buyers and sellers offers between six and nine months supply of inventory. New listings of single-family homes increased 2.1 percent, up to 2,021 in September 2014 from 1,601 during the same period in 2013. New condominium listings increased 4.0 percent from 2,727 in September 2013 to 2,837 last month. At the end of the September, total housing inventory nationally declined 1.3 percent to 2.30 million existing homes available for sale compared to the previous month, which represents a 5.3-month supply at the current sales pace. Unsold inventory nationally is 6.0 percent higher than a year ago. New Construction Market Update Strong sales in the coastal new construction condominium Miami market (east of I-95) reflect significant demand for new properties, according to the latest New Construction Market Status Report released today by Cranespotters.com and MIAMI. Currently, there are 188 new construction towers that have been announced in Miami-Dade County east of I-95, of which 66 have not been approved, 60 are planned but have not begun development, 55 are under construction, and 7 were completed in 2014. Of the above projects in Miami-Dade: 82 projects with 96 towers comprising 14,690 units are currently selling Since 2011, 65 percent or 9,478 units have been sold, compared to 66 percent in August The mean price per square foot of these units is $850, compared to $844 last month “September proved to be another active month for preconstruction condo sales East of Interstate 95 in the tricounty coastal region based on the latest Carnespotters.com Monthly Developer Price Survey,” said Peter Zalewski, founder of Cranespotters.com. Our researchers learned that buyers entered into contracts to purchase nearly 250 preconstruction condos - an average of more than eight units per day – in the month of September. Buyers accounted for more than 45 units in Broward County, nearly 200 in Miami-Dade County and fewer than 5 units in Palm Beach County. As a result, some 65 percent of the more than 16,900 preconstruction condo units actively being marketed for presale are under contract or recently sold. For the remaining 5,850 units available the minimum mean price per square foot is $772. On a county-by-county basis, minimum price per square foot is $507 in Broward, $850 in Miami-Dade and $495 in Palm Beach.”

NOW BIENES RAICES 10-‐11, 2014

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NOW BIENES RAICES 10-‐11, 2014

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NOW BIENES RAICES 10-‐11, 2014