Another Ray Of Hope as reflected in a recent Fannie Mae National Housing Survey.
There is exciting news about the strengthening of the housing market, according to the Fannie Mae Monthly National Housing Survey, 35% of Americans believe home prices will increase in the next 12 months. Optimism about the housing market was also seen in several other areas as well. For example, 73% of respondents believe that now is a good time to buy, and 69% said that if they were going to move, they would buy. This represents a 6% increase from the May survey. Those numbers are important because Fannie Mae's monthly national consumer attitudinal survey report provides indicators offering a window into the opinions of Americans across the country. These behavioral insights convey what consumers think about the outlook for owning and renting a home and about their household finances.
Another Ray Of Hope in the South Florida Real Estate Market - South Florida real estate continues to set records for sales, increased condominium and home values and decreased inventories of available properties.
3 Recent South Florida luxury oceanfront condominium sales set records in Miami-Dade county for sales priced at $21.5 million, $24.6 million and $25 million. Other record breaking sales records are being set for the highest prices being paid per square foot at a number of select condominium properties up and down the South Florida coast.
A new home just sold this month on Indian Creek Island for another Miami-Dade county record breaking sale price of $47 million for a single family home. View the video virtual tour of this Indian Creek Island home below.
View the Huffington Post article about the 3 Indian Creek Island home here with additional photos - http://www.huffingtonpost.com/2012/08/07/3-indian-creek-sold-miami-dade-most-expensive-photos_n_1753404.html
The New Boom of South Florida Condominium Construction
The South Florida condominium market currently has over a dozen new projects either just breaking ground or breaking ground this year. A number of these preconstruction properties are nearly 90% (or higher) sold out without any of the buildings being completed. These preconstruction purchase numbers are not unlike what we in South Florida saw just before the real estate crash of a few years ago. HOWEVER, the difference during this new construction phase, is that many developers are reporting that they are now seeing that the majority of purchasers are actual home buyers and NOT speculative investors that are hoping to "flip" their preconstruction purchase for a substantial profit before the official closing date comes due on their purchase.
One of the new luxury oceanfront condomium properties ( The Mansions at Acqualina ) is not allowing ANY investor purchasers and they have sold nearly half of their 79 Sunny Isles Beach luxury oceanfront residences before breaking ground, with their prices starting at $5 million! All new purchasers at the Mansions at Acqualina must agree to forfeit their substantial down payments if it is found that they are not actual homebuyers.
Another unique characteristic of this new construction boom of South Florida oceanfront condominium properties is that nearly each and every new building is either more luxurious and/or more unique than just about any other condominium property in their area, and a number of these new properties are easily some of the most unique properties in the United States and one ( The Porsche Design Tower Miami ) is certainly the most unique condominium property in the world!
Just a few of the new construction ultra luxury oceanfront condominium properties include: The Regalia Miami condominium, The Mansions at Acqualina and The Porsche Design Tower Miami. All are located directly on the ocean, in the beautiful Greater Miami Beach oceanfront community of Sunny Isles Beach.
For more information on any new South Florida condominium construction projects or any other luxury oceanfront and/or waterfront luxury condominiumn properties and single family home communities from South Beach to Palm Beach, please view the Featured Condominium & Featured Community pages here on my Linda G Properties website.