Fidan Noriega

WASHINGTON - June 29, 2011 - Pending home sales rose strongly in May with all regions experiencing gains from a year ago, pointing to higher housing activity in the second half of the year, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index, a forward-looking indicator based on contract signings, rose 8.2 percent to 88.8 in May from an upwardly revised 82.1 in April and is 13.4 percent higher than the 78.3 reading in May 2010. The data reflects contracts but not closings, which normally occur with a lag time of one or two months.

This is the first time since April 2010 that contract activity was above year-ago levels, and the monthly gain was the strongest increase since last November when the index rose 10.6 percent.

To read full story click here

Looking to buy, sell or rent in South Florida, contact Fidan Noriega cell: 305-336-5423, email mfidan@hotmail.com

www.floridafuturehome.com

Sunny Isles Beach Condos, Miami Beach Condos, Hallandale Beach Condos, Aventura Condos, Hollywood Beach Condos, South Beach Condos, Sunny Isles real estate, Fidan Noriega

Miami, FL - Total pending home sales - including single-family and condominiums - in Miami-Dade County increased 53 percent in June 2010 compared to June 2009, from 6,761 to 10,366, and decreased less than one percent, from 10,456 to 10,366, compared to the previous month according to the Realtor Association of Greater Miami and the Beaches (RAMB) and the Southeast Florida Multiple Listing Service (SEFMLS).

Despite the expiration of the tax credit, which helped boost the state of the South Florida residential real estate industry, the local market continues to strengthen, as evidenced by rising home sales and prices. South Florida and Florida continue to be the top areas in the nation for international buying activity. It is estimated that 60 percent of current sales involve international buyers, who were never eligible for the tax credit, and cash transactions. Local and U.S. buyers continue to show interest in South Florida properties due to record affordability and seller, builder, and real estate company incentives.

"Despite the expiration of the tax credit, pending home sales year-over-year continue to post significant increases," said Terri Bersach, RAMB Chairman of the Board. "While there was a small decrease, which is probably due to the expiring tax credit, in pending sales from the previous month, the overall performance of the South Florida real estate market continues to reflect the existence of demand for local properties, especially from international buyers."

Pending sales of condominiums in Miami-Dade County continue to perform better than that of single-family homes. In June, condominium pending sales increased 76.4 percent compared to the previous year, from 3,332 to 5,876 and dropped only 0.64 percent, from 5,914, from the previous month. Pending sales of single-family homes in June increased 31 percent from the previous year, from 3,429 to 4,490, and decreased 1.15 percent from previous month, from 4,542.

Broward County Pending Sales
In Broward County pending home sales rose 28.7 percent from the previous year, from 5,826 to 8,031, and decreased 2.7 percent from the previous month, from 8,250.

Pending condominium sales in Broward also fared better than that of single-family homes. Broward County condominium sales in June increased 56 percent, from 2,839 to 4,429, compared to June 2009 and fell 2.3 percent, from 4,531, compared to the previous month.

Compared to June 2009, Broward pending sales of single-family homes rose 20.6 percent, from 2,987 to 3,602, and decreased 2.7 percent, from 3,719, compared to the previous month.

Strengthening Market
Home sales in South Florida have increased dramatically since August 2008 while inventory levels continue to drop and prices for single-family homes began increasing in April.

"We are encouraged by the activity in the local market and the strength of foreign buyers," said Oliver Ruiz, RAMB Residential President. "We've seen nearly two years of rising home sales and now increased sales prices. Additionally, there is heightened activity in the international and high-end sectors, resulting in multiple offers and over-bidding reminiscent of the real estate boom years."

Congress Extends Tax Credit Closing Deadline and Flood Insurance Program
The U.S. Senate passed two bills last evening previously passed by the House. Both bills still need President Obama's signature to become law, but that's expected to happen quickly.

The Senate passed HR 5623, which extends the mandatory closing date to qualify for the homebuyer tax credit. The contract deadline does not change - homebuyers must have a contract signed by April 30, 2010 (an exception for active duty military) - but the previous closing deadline of June 30, 2010, has been extended to Sept. 30, 2010. The National Association of Realtors estimates that the approved bill will benefit more than 14,000 deals in Florida.

A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Increased pending sales are an indication of increased future sales.

"Copyright RAMB, Reprinted with permission"

FOR MORE INFO PLEASE CONTACT FIDAN NORIEGA AT 305-336-5423, MFIDAN@HOTMAIL.COM

HTTP://WWW.FLORIDAFUTUREHOME.COM

ADAT ACHIM SYNAGOGUE

16850 -112 COLLINS AVE, #255, SUNNY ISLES BEACH, FL 305-510-8111

CHABAD LUBAVITCH OF SUNNY ISLES BEACH

17555 ATLANTIC BLVD, SUNNY ISLES BEACH, FL 305-792-4770

CHABAD RUSSIAN CENTER OF SOUTH FLORIDA

157 SUNNY ISLES BLD, SUNNY ISLES BEACH, FL 305-803-5315

TEMPLE BENARROCH

18555 COLLINS AVENUE, SUNNY ISLES BEACH, FL 305-466-4677

TEMPLE B'NAI ZION

200 178TH STREE, SUNNY ISLES BEACH, FL 305-932-2159

YOUNG ISRAEL OF SUNNY ISLES

17395 NORTH BAY ROAD, SUNNY ISLES BEACH, FL 305-935-9095

ST MARY MAGDALEN CHURCH (ROMAN CATHOLIC)

17775 NORTH BAY ROAD, SUNNY ISLES BEACH, FL 305-931-0600

GOLDEN SHORES COMMUNITY PARK, 201 191 TERRACE, SUNNY ISLES BEACH

THIS PARK IS LOCATED IN THE CORNER OF SINGLE FAMILY DEVELOPMENT OF GOLDEN SHORES AT 191ST TERRACE AND ATLANTIC BLVD. IT HAS PLAYGROUND EQUIPMENT FOR YOUNGSTERS, A PICNIC TABLE, A SEATING AREA AND A SWING.

HAULOVER BEACH PARK AND MARINA, 10800 COLLINS AVENUE, SUNNY ISLES BEACH (305) 947-3525

WHITE SAND SHORES, OPEN SURF, SHADED PICNIC AREAS, CONCESSION STANDS MAKE UP THIS MILE AND A HALF OCEANFRONT PARK. ACROSS THE STREET IS A FULL-SERVICE MARINA, A RESTAURANT, TENNIS COURTS AND MORE. LIFEQUARDS ARE ON DUTY.

PELICAN COMMUNITY PARK 18115 NORTH BAY ROAD, SUNNY ISLES BEACH

PELICAN COMMUNITY IS TWO ACRES IN SIZE. AMENITIES INCLUE A LITTLE LEAGUE BASEBALL FIELD (UP TO AGE 10), A PLAYGROIUND AREA, PICNIC TABLES, AN INDOO GYM, A BASKETBALL COURT, VOLLEYBALL, TWO CLASSROOMS, A CONCESSION AREA AND MORE.

SAMSON OCEANFRONT PARK, 17425 COLLINS AVENUE, SUNNY ISLES BEACH

SAMSON OCEANFRONT IS A 2.1 ACRE PARK OFFERING A BOARDWALK, A PLAYGROUND AREA, A PAVILLION WITH TABLES AND BENCHES, SHOWERS, RESTROOMS, AND A VOLLEYBALL NET. LIFEGUARDS ARE ON DUTY.

SENATOR GWEN MARGOLIS, 17815 NORTH BAY RD, SUNNY ISLES BEACH

THIS 2.84 ACRE VENUE HAS A SHADED PLAYGROUND AREA, PLAYGROUND EQUIPMNET FOR TODDLERS AND OLDER CHILDREN, SITTING AREAS, PICNIC TABLES, A DOG PARK AND MORE.

TOWN CENTER PARK, 17200 COLLINS AVENUE, SUNNY ISLES BEACH

THIS IS A THREE-ACRE PARK LOCATED ON THE WEST SIDE OF COLLINS AVENUE. IT INCLUDES A PLAYGROUND, A FITNESS TRAIL, AND A GAZEBOO.