Coral Springs……Home For Sale “9602 NW 36 Court”

Coral Springs …9602 NW 36 Court Coral Springs 9602 NW 36 Court 2Completely and Perfectly Updated Home in the Stoneman Douglas HS District!! Situated on an expansive 1/2 acre, waterfront, cul-de-sac lot in one of Coral Springs Best Communities!!! Everything is new!! The Roof, A/C, Impact Windows, Bathrooms, Flooring, Crown Molding, Kitchen and Pool Area are ALL NEW!! Other features include Zen/Resort style pool area with stack Stone Fountain, Closet Cabinetry, Very Large Secondary Bedrooms & LED lighting!  Abundant Large/Wide windows create a light and bright ambiance.

Year Built: 1972

Bedrooms: 3  Bathrooms: 3

Square Feet:  3139

Pool: Yes

Lot: 1/2 acre

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Cash sales down – but some Fla. cities don’t notice

NEW YORK – Oct. 27, 2015 – Cash sales made up 30.8 percent of all home sales nationwide in July, down from 34.2 percent the same month a year ago. It’s the 31st year-over-year monthly drop in a row.

According to CoreLogic, cash transactions slipped 0.5 percentage points on a month-to-month basis. The five states where these deals were highest during July were Alabama (47.4 percent), Florida (44.7 percent), New York (42.8 percent), West Virginia (41.1 percent) and New Jersey (39.5 percent).

REO properties accounted for 56 percent of all cash home purchases. Cash deals for resales and short sales made up about 30.2 percent and 28 percent, respectively. All-cash sales of new homes, meanwhile, tallied 15.6 percent of the total sales volume in that niche.

Of America’s 100 biggest metro areas, Florida is home to all five markets with the greatest percentage of July cash sales: West Palm Beach-Boca Raton-Delray Beach, at 53.2 percent; Miami-Miami Beach-Kendall, at 52.2 percent; North Port-Sarasota-Bradenton, at 50.1 percent; Fort Lauderdale-Pompano Beach-Deerfield Beach, at 48.4 percent; and Cape Coral-Fort Myers, at 47.9 percent.

Source: 24/7 Wall St. (10/23/15) Ausick, Paul

© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

3 Fla. cities in top 10 for real estate investors

NEW YORK – Oct. 28, 2015 – Need some guidelines for making choices for real estate investment? Well, help has arrived. BiggerPockets just released its Real Estate Investment Market Index indicating the hottest markets to get the most out of your money.

Using criteria such as home purchase prices, appreciation and rental prices, BiggerPockets listed the 10 best cities for investment in 2015 – and also 10 cities where real estate investment may be a riskier bet.

Best places to invest and percentage of return

1. Dallas: 19.5% return.

2. Denver: 18.9% return.

3. Miami: 18.6% return.

4. Houston: 18.5% return.

5. Atlanta: 16.5% return.

6. Tampa: 16.4% return.

7. Detroit: 16.2% return.

8. Austin, Texas: 15.6% return.

9. Las Vegas: 15.3% return.

10. Orlando: 14.9% return.

Cities where investing may not be a good option

1. Hartford, Conn.: 4.4% return.

2. Salt Lake City: 5.4% return.

3. Louisville, Ky.: 5.7% return.

4. Milwaukee: 5.9% return.

5. Washington, D.C.: 6.4% return.

6. Los Angeles: 6.5% return.

7. Baltimore: 6.7% return.

8. New York: 7.1% return.

9. Boston: 7.4% return.

10. Birmingham, Alabama: 7.7% return.

Sources: “The 10 Best (and Worst) Cities for Investing in Real Estate May Surprise You,” realtor.com. and “Bigger Pockets Real Estate Investment Market Index: The Best (and Worst) Major Markets for Real Estate Investors, 2015,” The BiggerPockets Blog.

© Copyright 2015 INFORMATION, INC. Bethesda, MD (301) 215-4688

Marea South Beach marks third new condo project completed South of Fifth – See more at: http://therealdeal.com/miami/blog/2015/10/27/marea-south-beach-marks-third-new-condo-project-completed-south-of-fifth/#sthash.ROzGjiUt.dpuf

Nine units have sold for an average price of $1,500 psf at the Related Group’s development

October 27, 2015 04:30PM
By Peter Zalewski

– See more at: http://therealdeal.com/miami/blog/2015/10/27/marea-south-beach-marks-third-new-condo-project-completed-south-of-fifth/#sthash.ROzGjiUt.dpuf

A third new condo project in the high-end South-of-Fifth neighborhood of Miami Beach has been completed during this South Florida real estate cycle that began in 2011.

To date, nine transactions in the newly completed Marea South Beach condominium project in the 800 block of South Pointe Drive have been recorded since Oct. 15. The average price is nearly $1,500 per square foot for a combined $25 million as of Monday, according to Miami-Dade County records.

Individual unit transactions in the Marea South Beach have ranged in price from less than $1.5 million to as much as $7.9 million, each. On a price-per-square-foot basis, individual unit transactions have been recorded between about $963 and $2,875 each, according to government records.

Currently, three units in the Marea South Beach are listed for sale on the Multiple Listing Service at an average asking price of more than $2,200 per square foot as of Tuesday, according to data from the Southeast Florida MLXchange.

Developed by the Related Group, the Marea South Beach is a condo complex consisting of three buildings with a total of 21 floors and 30 units. It is located at the intersection of South Pointe Drive and Washington Avenue near the southern tip of the barrier island in Miami-Dade County, according to government records.

The completion of the Marea South Beach comes about six months after the completion of the 321 Ocean project with two buildings and 22 units, in May. A month later, in June, the 350 Meridian boutique condo with four units was completed.

In total, developers have announced plans to build 11 new condo buildings with nearly 150 units in the South-of-Fifth neighborhood of Miami Beach. Overall in Miami Beach, developers have announced plans to build 43 new condo buildings with more than 1,925 units in the barrier island city.

For the Related Group, the Marea South Beach is the first of two new condo projects being developed in the South-of-Fifth neighborhood. A couple of blocks to the east, construction is currently underway on the planned One Ocean condo complex that is to consist of two buildings with a combined 50 units, according to government records.

Overall, the Related Group is involved with plans to develop 39 new condo towers with more than 9,800 units east of I-95 in the tri-county South Florida region of Miami-Dade, Broward and Palm Beach counties during this cycle, according to the preconstruction condo projects website CraneSpotters.com. (For disclosure, my firm operates the website.)

In the tri-county region, developers have announced plans to build a total of 381 new condo buildings with more than 45,300 units east of I-95, as of Monday.

In completing the Marea South Beach project, developers have now constructed 47 new condo buildings with more than 3,700 units east of I-95 in the tri-county South Florida region since 2011.

An additional 119 new condo buildings with more than 11,600 units are currently under construction in South Florida, according to the data.

The new condo projects that are under construction or recently completed account for nearly 34 percent of the total units announced for South Florida during this latest boom.

The unanswered question going forward is whether flip-oriented buyers of new condo units in the pricey South-of-Fifth area can achieve their profit objectives given the growing number of preconstruction projects now on the market, combined with the recent slowdown in transactions by foreign investors who are being hampered by a strong dollar.   

Peter Zalewski is a real estate columnist for The Real Deal who founded Condo Vultures LLC, a consultancy and publishing company, as well as Condo Vultures Realty LLC and CVR Realty brokerages and the Condo Ratings Agency, an analytics firm. The Condo Ratings Agency operates CraneSpotters.com, a preconstruction condo projects website, in conjunction with the Miami Association of Realtors.

– See more at: http://therealdeal.com/miami/blog/2015/10/27/marea-south-beach-marks-third-new-condo-project-completed-south-of-fifth/#sthash.ROzGjiUt.dpuf

Average rate on 30-year mortgage slips to 3.76%

WASHINGTON (AP) – Oct. 30, 2015 – Average long-term U.S. mortgage rates were slightly lower this week amid expectations that the Federal Reserve isn’t ready yet to raise its key short-term interest rate.

Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage slipped to 3.76 percent from 3.79 percent a week earlier. The rate on 15-year fixed-rate mortgages stayed at 2.98 percent.

It was the 14th straight week of rates below 4 percent, and they are well below last year’s levels. A year ago, the average 30-year mortgage rate was 3.98 percent, while the rate for 15-year loans was 3.13 percent.

The Fed announced Wednesday that it’s keeping the key rate at a record low near zero in light of a weak global economy, slower U.S. hiring and subpar inflation. But it signaled the possibility of a rate hike in December.

It was the first time in seven years of record-low rates that the Fed has explicitly raised the possibility that it could raise the benchmark rate at its next meeting.

Data issued Thursday showed that September marked a slowdown in Americans signing contracts to buy homes, the second consecutive decline for a real estate market that has been rebounding for the first half of 2015.

The National Association of Realtors said its seasonally adjusted index of pending home sales dropped 2.3 percent to 106.8 last month. The index has risen 3 percent over the past 12 months, aided by solid hiring levels and low mortgage rates that fueled stronger demand during the traditional summer buying season.

Sales of new homes plunged sharply in September to the slowest pace in 10 months, as higher prices and slower economic growth weigh on the housing market, according to government data out Monday.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country at the beginning of each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for a 30-year mortgage held steady from last week at 0.6 point. The fee for a 15-year loan rose to 0.6 point from 0.5 point.

The average rate on five-year adjustable-rate mortgages was unchanged at 2.89 percent; the fee remained at 0.4 point. The average rate on one-year ARMs fell to 2.54 percent from 2.62 percent; the fee held at 0.2 point.

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