ARMiami & At Home Properties brokerage would like to congratulate Jamie Blumenfeld, PA on his closing this month of a Short Sale townhome in Pompano Beach.
Here is what my mortgage contact gave me today:
BRICKELL
Avenue on Brickell (1050/1060 Brickell Ave)
500 Brickell
Brickell on the River South Tower
Infinity
The Ivy
DOWNTOWN
Marina Blue - some units
PERFORMING ARTS
NORTH BAY VILLAGE
360 Condo
A slight reduction in the asking price of the Loft Downtown 1 condo #1906 to $140,000.
Prices have been reduced on several of ARMiami’s listings:
For SALE, The Loft Downtown 1 #1906 - $149,999
For LEASE, Latitude on the River #2405, $1,500
recently lowered:For LEASE, 50 Biscayne #4611, $2,200
don’t forget about these additional listings:
For SALE, The Loft Downtown 1 #1902, $171,000
For SALE, The Loft Downtown 1 #1609, $159,000
For LEASE, One Miami West #2219, $2,200
Check out Jamie’s first try at a video tour of the view from The Loft Downtown 1 #1902!
Great opportunity to purchase water view loft space in the heart of downtown for roughly 50% of original pricing! Short Sale of Jamie Blumenfeld, PA’s personal unit #1902 at the Loft Downtown 1. Unit features upgraded lighting, shelving, custom door and more.
Avenue on Brickell (1060 Brickell) developer Extell is oferring a bulk sale of 346 units at a fair discount - but will they find a buyer? Click on the link to read a Miami Herald article about the sale:
346 Brickell Condos Offered in Bulk Sale
While at first glance this seems to support the notion the sky is falling that the news outlets and water cooler gossip would have you believe, take a close look at the numbers cited at the end for closings in Miami - 70% rate closed and many of the buildings are still in the closing process. This supports what I have seen in the foreclosure/short sale market, that there are still condos being bought and sold daily - units priced well are moving as cash buyers swoop in.
I recently took on a great short sale listing at The Loft Downtown 1, unit #1807. This loft has many upgrades including bamboo floors, flat finished ceiling, built-out bedroom & closet, new cabinet hardware, ceiling lights/fans, window treatments, and much more - and the best part? The bank has signed off on $205,000 - the owner paid $345,000 in 2006. Here is a chance to get a great condo in downtown for under $200/ft!
It had to happen, I’ve just been getting too much interest to ignore the new, burgeoning Short Sale & Foreclosure markets. Starting this week along with our leasing specialization ARMiami is be broadening to cover short sale and foreclosure Buying & Selling. Great deals at the Mirador North and Yacht Club at Portofino were shown to clients and 1800 Club, Ten Museum Park, and Marina Blue are some of our next targets.
It’s time to buy - prices are looking to have bottomed already at some properties like Jade Condo Brickell, a 1 bed there was listed for $250k and lasted just hours before a full price cash deal took that off the market. Just a year ago the idea of a nice SoBe condo for under $250k was a pipe dream but no more - I showed multiple Mirador units that will surely go for less than that, with a little TLC and a few years these should appreciate nicely and make a great residence, vacation spot, or rental unit. At $200k for a 1br you can break even, or close to it which for most owners here in Miami is not the case at all (50% on a new condo is average).
