Michele Kolodner

INTERESTING FACTS ABOUT THE MIAMI DOWNTOWN AREA

The Miami Downtown Development Authority stated in a recent study that despite the economic downturn and a tight credit market that people are filling up condominiums in downtown Miami. The study found that 62% of the 73 condo developments and seven rental apartment buildings in the downtown area that have come online since 2003 are occupied and that lower prices and location are driving the demand.

The recent condo rental programs that have been implemented by concerned developers, who had tons of empty units to deal with and their maintenance costs, are transforming urban Miami attracting more young professionals and making a dent in the oversupply of housing that came along with the condo boom.

The study also found many other interesting facts, such as:

• Of the 21,616 new condominium units completed, 13,337 have closed. Of those, 98.6 percent are occupied.
• Average monthly sales of new units during the past three months increased over the three months prior, with a 12-month average of about 70 recorded closings a month.
• The average monthly sales and leasing activity of new units has been about 350 units a month.
• In 2008, more than 4,200 units were sold, despite the collapsed housing market and general economic recession.
• Of the total inventory of residential properties for sale in Miami-Dade County last month, 26 percent were located in downtown Miami.
• Historically, more than 70 percent of downtown Miami residents were renters. So, the balanced 50-50 mix between owners and renters in new downtown condominiums indicates a steady increase in home ownership among area residents.

Patience and perseverance are showing its rewards!

The Real Estate Market is starting to breathe again!

I just read in the most recent edition of the National Real Estate Report, published monthly by real-time real estate data firm Altos Research, that asking real estate prices are rising in 23 of 26 metro markets thus reflecting the return of some stability in the housing market and were down in just 3 markets.

According to the report, listing prices rose at the fastest rate in the California markets with San Diego up 6.9%, San Jose up 5.3% and Los Angeles up 4.2% and also in Philadelphia up 6.8% in May. Prices in 22 markets are now showing three months of sequential listing price increases. Asking prices fell at the fastest rate in Las Vegas with a decline of 3.7% during May and 7.4% for the most recent three month period.

The report stated that "We are seeing listing prices increases spread broadly across most major markets driven by a combination of seasonal factors, low mortgage rates and restrained inventory growth".

On the other hand, the report also stated that "although recent mortgage rate increases and the general resumption of foreclosures by lenders could imperil this still nascent recovery, we expect the market to continue to surprise on the upside, at least through the balance of the spring and summer periods."

Part of the data included in the report also indicated that the "Inventory levels decreased in a majority of major markets with inventory falling in 14 of 26 markets. Miami has experienced the slowest market turnover in every month since September 2007. San Francisco experienced the fastest rate of inventory turnover at a median of 96 days-on-market, followed by Boston at an even 100 days".

Data in the Real-Time Housing Market Report is based on analysis of over one million properties currently listed for-sale in 26 metropolitan statistical areas (MSAs): Atlanta, Austin, Boston, Charlotte, Chicago, Cleveland, Dallas, Denver, Detroit, Houston, Indianapolis, Las Vegas, Los Angeles, Miami, Minneapolis, New York, Phoenix, Portland, Salt Lake City, San Diego, San Francisco, San Jose, Seattle, Tampa, and Washington, DC. The first report was published December 7, 2007 and is released every month.

I picked up this information for my readers as I am sure that many of them enjoy playing this sport. Miami has top golf lcourses some in which international tournamentes are played: in the city of Aventura you will find the newly renovated Turnberry Golf Course which is part of the Fairmont Hotel; in Miami Beach, there are several excellent golf courses such as the one at La Gorce Country Club or the one in Fisher Island; in south Miami you will find a championship golf course at the Doral Golf Resort and Spa; another fine golf course is the one located in Key Biscayne. Hope you have time to try them all out!

Local business results for golf courses near Miami, FL

	A.	Miami Springs Golf & Country - www.miamispringsgolfcourse.com - (305) 805-5180 - 2 reviews
B.	Miami Beach Golf Course - www.miamibeachgolfclub.com - (305) 532-3350 - 3 reviews
C.	Doral Golf Resort & Spa - www.doralresort.com - (800) 713-6725 - 268 reviews
D.	Fisher Island Golf Club - www.fisherisland.com - (305) 535-6052 - 18 reviews
E.	Crandon Golf Course - www.crandongolfclub.com - (305) 361-9129 - 8 reviews
F.	International Links Miami - www.internationallinksgolfclub.com - (305) 633-4583 - 6 reviews
G.	Biltmore Golf Course - www.biltmorehotel.com - (305) 460-5364 - 4 reviews
H.	Historic Biltmore Hotel & Resort in Coral Gables - www.biltmorehotel.com - (305) 445-8066 - 113 reviews
I.	Riviera Country Club - www.rivieracountryclub.org - (305) 661-2497 - 3 reviews
J.	Normandy Shores Golf Course - www.geocities.com - (305) 868-6502 - 1 review

Although my BA was in International Relations and my Master's was in International Trade, almost 11 years ago I decided to work in the Real Estate industry and got my Florida License. I felt that my real vocation was in helping people by making them happy and what a nice way to do it as a guiding light in providing my clients with the best choices possible according to their needs and requirements at the time of purchasing and/or selling their property.

Much water has run under the bridge since my first sale having sold to date many single family homes and condos in the Miami metropolitan areas such as Aventura, Bal Harbour, Brickell area, Coconut Grove, Coral Gables, Golden Beach, Sunny Isles Beach and in the eastern waterfront areas of Fort Lauderdale.

Because CUSTOMER SATISFACTION is my primary goal, a high percentage of my clients are from referrals from previous highly satisfied clients: my level of patience and listening to the details of what my clients needs and wants are is very high which always translates into finding exactly what they are looking for which of course has been related to their circle of family and friends. Because of their praises to my work ethic, knowledge and quality services provided I am proud to mention that I have been referred and included in the Presidential Who's Who of Real Estate Achievers.

As part of the service that I provide to my clients, they receive a list of options to choose from when it's time to select a loan officer, home inspector, attorney, moving company, etc. I also make sure to keep them informed of current property values and sales in their area of interest thus helping them make the best decision possible at the time of buying and/or selling a property.

When looking to buy and/or sell a property in Aventura, Bal Harbour, Brickell area, Miami Beach/South Beach, Golden Beach or Sunny Isles Beach give me a call at 305-409-3231 or visit my website at www.MicheleKolodner.com and I will be more than happy to guide you in your searh.