Recent Sales & Rentals Updated

August 18, 2009 by Lucas Lechuga

Just wanted to let everyone know that the recent sales and rentals were updated last night for each of the condo buildings in South Florida that are covered on this website.  The data will now be automatically retrieved and populated on the website each day at midnight.  This is an invaluable resources for buyers and sellers alike who are looking for comparable sales and rental information for any of the major condo buildings in Dade County.

As a side note, the new Condo Deals page is almost complete and should be ready to go live by early next week.

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317 Comments on "Recent Sales & Rentals Updated"


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Anonymous
Renter Tom
7 years 1 month ago

I checked out a building that I know had activity in July since the last update only went through June it seems. But the building still only showed sales through June still but rentals now only go through April……previously it showed rentals in May and June too. Hence, the update might need a review! Thanks.

Anonymous
Renter Tom
7 years 1 month ago

Oh, and …. with regard to my post above….. FIRST! LOL

Anonymous
Odd & Sods
7 years 1 month ago

The New American Dream according to Obamha is Rentership and with that in mind his administration has appointed a Rental Zhar whose first priority is to fill the 28,000 empty Miami Condo’s with Section 8 Renters.

Welcome to the Hood Obamha style.

Anonymous
Sick and tired
7 years 1 month ago

Odds an sods, if you take one look at the new people filling the downtown condos, it’s already happening. After seeing the people in the lobby, one visitor asked me if any white people lived in my building….

Anonymous
condoswindler
7 years 1 month ago

I heard Obama’s brother is a Realtor!

Talk about steering….Kill the white people….
http://video.google.com/videoplay?docid=-4402897013051860643

Anonymous
Joe
7 years 1 month ago

Yeah, I don’t care what some of the Realtards ™ are saying. Once a condo goes rental, it never gets back to being a top-shelf property. And now downtown is going to have a glut of such buildings. Sad.

Anonymous
7 years 1 month ago

Chapter 11 filed for Everglades on the Bay…….

Anonymous
Drew
7 years 1 month ago

Does anyone kno how much is still outstanding on the Everglades note to BofA? Or how many units have actually closed?

A bankruptcy filing by a single purpose real estate debtor is just a delay on the inevitable foreclosure…I wonder why Everglades did this. If they can’t put together a reorganization plan w/in 90 days then the automatic stay is lifted to the 1st in line creditor (BofA) and they can go ahead and foreclose just as they would have otherwise.

This is not much of a surprise considering their CEO dropped dead last year.

Anonymous
7 years 1 month ago

Link for the Everglades on the Bay story:

http://www.bizjournals.com/southflorida/stories/2009/08/17/daily42.html

Story cites Everglades as 506 units. It should be 870 units.

Anonymous
7 years 1 month ago

jcrimes,

Is Everglades the condo you were referring to earlier or is their another condo bellyflop on the horizon?

Anonymous
Wild Bill
7 years 1 month ago

About time a downtown condo declared bankruptcy. I was starting to feel like an idiot for my predictions. Most these contractors will have a tough time collecting.

Anonymous
Odd & Sods
7 years 1 month ago
Wild Bill, The Ace predicted mass Condo foreclosure’s long before you did and he was ridiculed to hell on this site so don’t feel bad for being behind the eight ball. In addition to his prediction of mass foreclousures he also predicted that high end Condo’s would drop in price to $125.00 per sq ft or below. The abuse he took for this prediction from being called an idiot to an Obamha supporter was unreal but we all now now that not only was he right he was right on the money. We all wait for the Ace and his… Read more »
Anonymous
BMW M3
7 years 1 month ago

I personally know a proud Everglades owner. Unemployed and broke. He’s got a few other properties in other buildings! Everglades needs more buyers like that guy! LOL

Anonymous
Richard
7 years 1 month ago

Drudge Report says downtown almost sold out to individual buyers

Anonymous
Lara
7 years 1 month ago

http://cbs4.com/local/miami.condos.condo.2.1133338.html

I think it will be interesting for all of you to read this article.

Also if someone has a good painter. I need to paint walls in my Quantum Loft. IT is pretty urgent. I would appreciate your referrals. But please only good ones that actually did a good job and on time.

Anonymous
AJ
7 years 1 month ago

Lara,
Call Mark @ 617-671-4725 for Painting, plumbing and wood work etc.
Call Jeanette @ 617-943-6415 for cleaning and maid services.
Both live downtown.

Both are excellent in their jobs, honest, hard working, reasonably priced, very well insured, fluently bi-lingual and very affable. Tell them AJ sent you.

Anonymous
Lara
7 years 1 month ago

AJ,

Thank you so much. As always I so much appreciate your help. I called Mark and left him a message.

Anonymous
BMW M3
7 years 1 month ago

hahaha… Im sure this supply of thousands of rental units when there are already thousands of empty rentals will have no effect on prices! LOL!

Anonymous
AJ
7 years 1 month ago

No problem. Here is their work number too just in case 305-704-8232.

Anonymous
jcrimes
7 years 1 month ago

JL
No. Much bigger, far more prestigious project.

Not sure what the endgame is for a project like this. Unless the lender is on-board with the bankruptcy filing and willing to work with the developer to get a plan confirmed, this case WILL crash. There can’t be any equity in this thing.

Anonymous
7 years 1 month ago
Regarding the CBS/David Sutta article, I mentioned this in the previous thread but will repeat the question here. Why doesn’t a developer advertise their inventory when they try aggressively try to sell out a place? I’m assuming 1060 Brickell, Brickell on the River and the Ivy never put their complete inventory on the MLS at $200 sq/ft even though they were readily selling the units at that price point. What is the logic behind that? It seems if you walked in the door they would readily give you that price so why not advertise it? You look at some of… Read more »
Anonymous
7 years 1 month ago

Has jcrimes been window shopping EPIC lately?

Anonymous
Joe
7 years 1 month ago
That CBS4 article is unbelievable. From the way Peter Zalewski was talking in the article, I bet he and his vulture buddies own half these units and that’s why he’s talking so positively. “You don’t even have time to get a soda while you wait”? Give me a freakin’ break. The only units that seem to be selling are lower-end units priced at $400,000 or lower. If “investors” are buying them rather than end users, then this is just another bubble in the works. Plus, amazingly, not a word of HOA fees in the article. IMO, HOA fees are going… Read more »
Anonymous
7 years 1 month ago

At least in the short term, looks like there will be a lot of competition in the downtown rental market.

Anonymous
7 years 1 month ago

From Mortgage Bankers Association:

“The worst of the trouble is still concentrated in California, Nevada, Arizona and Florida, which accounted for 44 percent of new foreclosures in the country. Nearly 12 percent of all loans in Florida were in foreclosure, the highest in the country, followed by Nevada at 9 percent.

“Clearly we have not seen the bottom in Florida,” said Jay Brinkmann, the trade group’s chief economist.”

http://finance.yahoo.com/news/Mortgage-delinquencies-hit-apf-1442009590.html?x=0&sec=topStories&pos=main&asset=&ccode=

Anonymous
7 years 1 month ago

I would like to invite you to our National Hard Money Conference on hard money lending, Mortgage Brokers success, REO’s, mortgage pools and much more. Held in Las Vegas at the Rio Hotel, September 3rd.

Investors, Brokers, Private Lenders and Real Estate Developers from around the country will be attending this once in a lifetime event.

It’s billed as the largest hard money conference in the country.

September 3rd, Rio Hotel – Las Vegas

Anonymous
Drew
7 years 1 month ago

“It’s billed as the largest hard money conference in the country.”

So it must be the largest group of scammers and scheisters gathered in one place. I checked out the “Pitbull Seminar” website and it looks like reps from Kennedy Funding are taking part in the Hard Money conference. Anyone with a little bit of experience in the real estate financing industry knows that Kennedy Funding is full of thieves. They are a predatory lender, plain and simple.

Hey Andrius- I assume your conference will devote an entire day to Upfront Nonrefundable Commitment Fees, right? What a joke.

Anonymous
jcrimes
7 years 1 month ago

JL
i bug the sales center guy at epic at least once a week. something i was trying to buy on the beach fell thru…at least for now. epic is a nice alternative if the prices come down about another 15%/20% from the current levels. i have my eyes on the townhome units. right now, they’re still priced in the high six figures. no one is paying that price for that location.

as for the hard money conference, apparently the predators’ ball has taken a step down in prestige.

Anonymous
7 years 1 month ago

Florida leads nation in distressed mortgages
http://www.miamiherald.com/1395/story/1195254.html

“”the percentage of Florida home loans either past due or in foreclosure hit 23 percent in the second quarter… Florida deserves special mention as the worst state in the country,” said Jay Brinkmann, the chief economist of the Mortgage Bankers Association””

Anonymous
Drew
7 years 1 month ago
Stats like that (23% of FL homes in trouble) seem to hurt the argument from realtors that this market has bottomed out or will bottom out very soon. There will be a huge glut of foreclosed homes w/in the next few yrs that will further drive down prices. The prime loan default wave may be just as big as the subprime default wave we already saw. By the way, is anyone else sick of all the media attention that this chump Peter Zalewski gets? I’ll take advice/opinion from McCabe, Cannon or Goodkin; but not from Zalewski, a realtor with an… Read more »
Anonymous
7 years 1 month ago

Zalewski is funny. It really does seem that based on owning a cool domain name “Condo Vultures”, he’s been able to get a lot of media attention as an “expert”.

Anonymous
7 years 1 month ago
The latest housing data is odd when you get past the headline. Home sales soar 7.2 percent in July First-time buyers rushed to take advantage of tax credit http://www.msnbc.msn.com/id/32505389/ns/business-stocks_and_economy (1) home sales rose 7.2 percent to a seasonally adjusted annual rate of 5.24 million in July (2) (distressed) sales helped drag down the median sales price by 15 percent to $178,400. (3) The inventory of unsold homes on the market rose to 4.1 million, from 3.8 million a month earlier. — This one month snapshot suggests sales are picking up (while prices are coming down, especially on the low-end from… Read more »
Anonymous
Drew
7 years 1 month ago

Here’s the breakdown of the 7.2% increase:

$0 – $100,000 Up 38.8%
100,000 – $250,000 Up 8.7%
$250,000 – $500,000 Down 6.2%
$500,000 – $750,000 Down 8.9%
$750,000 – $1,000,000 Down 10.6%
$1,000,000 – $2,000,000 Down 23.3%
$2,000,000 + Down 32.4%

Anonymous
7 years 1 month ago
Florida data for July 2009: http://news.prnewswire.com/DisplayReleaseContent.aspx?ACCT=104&STORY=/www/story/08-21-2009/0005081215&EDATE= Florida Sales Report – July 2009 Single-Family, Existing Homes Realtor Sales Median Sales Price Statewide & Metropolitan Statistical Areas July July % July July % (MSAs) 2009 2008 Chge 2009 2008 Chge ———– —- —- —- —- —- —- Fort Lauderdale 907 581 56 $219,000 $303,600 -28 Miami 643 392 64 $192,700 $322,700 -40
Anonymous
7 years 1 month ago
Florida Sales Report – July 2009 Existing Condominiums Realtor Sales Median Sales Price Statewide & Metropolitan Statistical Areas July July % July July % (MSAs) 2009 2008 Chge 2009 2008 Chge ———– —- —- —- —- —- —- Fort Lauderdale 927 559 66 $80,800 $138,300 -42 Miami 585 395 48 $137,600 $230,700 -40
Anonymous
jcrimes
7 years 1 month ago

it’s coming closer to collapse…

Anonymous
7 years 1 month ago

Lukas did you get a chance to update recent rental data?

Anonymous
Cockatoo
7 years 1 month ago

I want to buy a Sobe or Mid-Beach Beachfront condo with direct ocean view, in a newer or reasonable modern building. Do you guys think such condos will become available at the $200/ft range in the future ? Every thing in this category seems in the $350/ft range – $600/ft these days.

Anonymous
jcrimes
7 years 1 month ago

cockatoo
may be possible in ocean blue or the loft buildings next door.

Anonymous
Cockatoo
7 years 1 month ago

Thanks jcrimes. I will check those out.

Anonymous
Odd & Sods
7 years 1 month ago

Post#38

$200.00 per foot in the future?

That’s a laugh for in the present we are way under the $200.00 per foot mark. Talk about buying your way into being under water, realtors will gobble this fool up and spit him out.

Anonymous
Renter Tom
7 years 1 month ago
JL – The housing numbers “appear” to send inconsistent signals. But once you realize the exogenous factors affecting various markets it become more comprehensible…it is the government distorting the markets (i.e., socialism run wild). The $8K first time home buyer credit is a big deal to the people in the sub-$100K home buyers market…..a very big deal indeed esp. with a deadline which creates a frenzy pulling future demand into the present. Next we have the cash for clunkers absolute waste of money…..again demand will be pulled forward then we will have a lull in car sales. Talk about creating… Read more »
Anonymous
Cockatoo
7 years 1 month ago

Post #41

Odd & Sods:

Thanks for your post.

“That’s a laugh for in the present we are way under the $200.00 per foot mark”

Please do point out any listings that you see (per my post) that are beachfront with direct ocean view in Sobe or Mid-Beach. I have been looking online for 1.5 years and have yet to see $200/ft or even less than $300/ft.

I am very aware that you can buy even $100/ft currently downtown or other areas…but that is not what I mentioned in my post.

Thanks again for your post.

Anonymous
Petronius
7 years 1 month ago
Cockatoo, I doubt that you will find $200 per sqft prices in the future for properties that match your specifications. The biggest problem is that there are just not many relatively new properties along that stretch. The few newer buildings in those neighborhoods were targeted for the high-end luxury market and while their prices will compress it seems unlikely they reach $200. You would either have to look in a neighborhood where there is a glut of new supply (Sunny Isles) or settle for somewhat older buildings, of which there are plenty built in the 60s and 70s and a… Read more »
Anonymous
7 years 1 month ago
The spin on housing data is really strange and unlike anything you see in free markets. In stocks, if you see a share price falling dramatically on increased trading volume, that is a very bad harbinger. In housing, we are seeing median house prices falling dramatically year over year on an increased sales volume and that is being spun as something good. (It’s good in the sense that you need a crash before a bottom and this looks like a crash.) Focusing on Miami condos –where we just witnessed a 48% sales volume increase in July 2009 compared to July… Read more »
Anonymous
Wild Bill
7 years 1 month ago

Government need to stop giving incentives to buy ______. Truly an awful idea to encourage people to take on huge amounts of debt.

Anonymous
Odd & Sods
7 years 1 month ago

Post #43

Cockatoo

If you been looking for 1.5 years then you’ve either been looking in the wrong places or you’ve not looked hard enough. Everyone on here who has any sense knows that High End Beach Front Ocean View Condo’s are going for $64.00 per sq ft in bulk buys.

Anonymous
Clark
7 years 1 month ago

JCRIMES

My contract at Everglades On the Bay reads that I am entitled to a 50 % return of my escrow deposit. How do I go about claiming that escrow money? And do I need an attorney to do this? and what kind of attorney and expected fees for attorney? Thanks in advance.

Anonymous
7 years 1 month ago

Cockatoo,
Like it was said above take a look at Sunny Isles.

Anonymous
Cockatoo
7 years 1 month ago

Thanks for the suggestions. Will check out the Sunny Isles and Surfside areas.

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