North Miami, FL

Sales of Town Homes in North Miami, Fl have picked up over the past 2 months. With the battle raging between straight owner sales vs the Shadow Inventory from banks this is a positive news. While most Real Estate experts believe that the current crisis in housing will last for another 3-5 years it is good to highlight good news when there is some available. In North Miami there have been 14 sales over the past 2 months. The median sales price for a town home was $149,750.

None of the 14 sales that occurred in the past 2 months are Foreclosed properties. These were all traditional sales. What is interesting about this figure is that it is win in the battle against the shadow inventory. Kevin Brungardt, who formerly held positions at Citigroup's Citi Mortgage and Fannie Mae and is currently the CEO of RoundPoint Financial Group, a Charlotte, N.C.-based mortgage banking, servicing and investment firm, says while borrower defaults have fallen "significantly," the so-called foreclosure shadow inventory remains "stuck," This decline in distressed assets from banks is going to directly effect the supply demand model.

As the shadow inventory stays on the market longer the banks are going to be forced to keep lowering their prices. Since the forecast for the next few years is not great economically in the US the supply of foreclosed properties is going to go up and drive prices down. This is going to bring a lot more buyers who have been renting the past 5 years off the sidelines and into the arena of home ownership.

http://sokolowrealestate.com/3494/dsp_agent_page.php/93763/Hot_Property/Featured_Property

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Ten Unit Foreclosed Apartment Building in North Miami, Fl for Sale.

When you sit down and examine the advantage of owning multifamily properties, you will be amazed at the multitude of benefits. While other types of commercial properties offer some attractive incentives, owning and investing in multifamily properties brings many great things to the table. Let’s take a look at just a few:

1. You can buy with NONE of your own cash. This one is my favorite! You will find that apartments are easier to get financing on and that the MORE you borrow the LESS they look at the borrower’s credit. In some instances, they don’t even look at the borrower’s credit but at the borrower’s assets instead.

2. Apartments are made to cash flow. This means that instead of there being one house with one roof generating only one source of income, you have one roof with a multitude of little houses under its’ roof creating multiple income streams. You have economy to scale. Apartments are designed to be income-producing properties.

3. Better leverage of your time and effort. Think about it. What would you rather do? Look for ten houses or a ten-unit apartment building? On the flip side, wouldn’t you rather sell a ten-unit apartment than sell ten houses? Of course! You have more leverage of your time.

4. The value of income properties is based on income. This is a function of Net Operating Income (NOI) and you can create value by raising the rents and cutting the expenses. This is a very predictable process. You can determine how much the property is worth based on how much you raise the rents.

5. Non-recourse financing. The more money you borrow, the easier it is to borrow. When you get to loans of two million dollars and above, it becomes non-recourse financing which means the asset is the sole security for the loan. No one is personally guaranteeing the entire loan balance, only a percentage.

As you can see, the advantages to owning multifamily properties are solid and sound. With so many venues to consider when trying to find something to generate passive income for yourself, you just can’t overlook the tremendous value created by multifamily properties.

Visit www.sokolowrealestate.com today to view Multi Family properties in South Florida.

Are you interested in purchasing real estate in Andor Plaza? There are great looking properties at very attractive prices. Buying real estate today is much better that it was in 2005 or 2006! You have the time to pick and choose... North Miami Beach is offering wonderful communities for you to consider and Andor Plaza is one of them.

If you need a mortgage to purchase your property at Andor Plaza you need to get pre-qualified, in addition the Bank needs to prequalify the development.. You can get this pre-qualification over the phone. Speak to your Florida bank that is familiar with North Miami Beach. If you are a foreigner and you wish to obtain a mortgage, then we can refer you to a couple of lenders that specialize in financing to foreigners. But again, make sure that they will finance a property in Andor Plaza.

You can start searching today to find the home of your dreams in North Miami Beach can be very easy, visit our company website or contact one of our Real Estate Associates at Interinvestments Realty - Tel. 305-220-1101

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Preview homes ad condos in Andor Plaza

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The NBA All-Star Basketball Camp was held at Michael-Ann Russell JCC and proved to be a memorable occasion for youth participants from all over South Florida.

As the players 'gave their all' teaching the kids both the basics and the intricacies of basketball, the excitement on the kids' faces told the whole story...from the tips on basketball moves to life lessons on sportsmanship, the All-Star Basketball Camp provided it all.

Congratulations to everyone who worked so hard to ensure such a successful event! Thank you for the wonderful basketball camp and inspiring week with the kids. Each and every sponsor of this event can be extremely proud to have supported this event, and we can only look forward to the next one!

Plans are already underway to ensure the enjoyment of the next All-Star Basketball Camp. So if you missed August's camp stay tuned for details on our next one to either support or participate in what turned out to be a memorable event.

If you are interested in selling or buying a home or condo in the Miami area we would love the opportunity to meet with you and discuss your real estate needs. From mortgage, relocationand residential services our peace of mind full service real estate brokerage has you covered. Contact us today for a free consultation. www.OnePlaceOpenHouse.com


For the inside scoop on real estate deals both on and off the MLS follow us on Twitter @ We_Sell_Miami and join our Facebook page "We Sell Miami".

As a Miami Realtor my profession allows me the opportunity to meet and work with some truly accomplished individuals. It has always been a rule of thumb for me in the real estate business never to tout celebrated clientele or interactions with these individuals...no matter how many times they tell me it's okay. Everyone deserves some form of discretion. However there are genuine times such as this when me and my friends come together to make a difference with the youth who wouldn't otherwise have the opportunity. Bigger then real estate these are the moments I live for.

Starting today and lasting through the 12th of August kids can meet their favorite current and former NBA players who will be participating in the All Star Basketball Camp at the Michael-Ann Russell Jewish Community Center in North Miami Beach, August 8th - 12th, 2010.

Five-time NBA champion and All Star Dennis Rodman, along with six-time NBA All Star and MVP Mitch Richmond, five-time NBA All Star Tim Hardaway, three-time NBA All Star Eddie Jones, George McCloud, Eric Williams and Kenny Anderson, just to name a few, will interact and teach youth including boys and girls between the ages of 7-17 yrs old the game we all love...basketball, including ball handling, triple threat, post moves, rebouding, court spacing, passing and how important it is to work as a team.

This interactive camp will teach fundamental basketball skills, sportsmanship and team concepts. Contrary to some opinions about the NBA and its players the All Star Basketball Camp's emphasis is the importance of maintaining a positive attitude. You have to admit for these guys to have become stars in a league where the odds of making it are against you postive attitude, hard work, practice and determination are a must to succeed.

The All Star Basketball Camp will run from 9 am - 4 pm on August 9th - 12th. Kids will receive lunch daily, camp shirts, certificates of completion, photographs, autographs from their favorite players and awards ceremony. Boys and girls between the ages of 8 - 17 are welcome to attend. Registration for this experience is $200.

For more information and public relations questions on the All Star Baketball Camp contact, Andre' Shambley, (786) 704-8482.

If you are interested in selling or buying a home or condo in the Miami area we would love the opportunity to meet with you and discuss your real estate needs. From mortgage, relocation and residential services our peace of mind full service real estate brokerage has you covered. Call today or contact via email for a free consultation.

For the inside scoop on real estate deals both on and off the MLS follow us on Twitter @ We_Sell_Miami and join our Facebook page "We Sell Miami".

2875 NE 191 St

Aventura, Florida 33180

Miami Best Real Estate Team

www.OnePlaceOpenHouse.com