Friday, July 27, 2012

Imperial Real Estate Group: Second largest condo sale in Miami Dade county thi...

Imperial Real Estate Group: Second largest condo sale in Miami Dade county thi...: One buyer has closed on the $24.6 million purchase of a combination of five units at the St. Regis Bal Harbour . It is the...

Second largest condo sale in Miami Dade county this year closed for $24.5M


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One buyer has closed on the $24.6 million purchase of a combination of five units at the St. Regis Bal Harbour. It is the single-largest transaction at the St. Regis Bal Harbour, which opened its doors in January.
Considered as one unit in St. Regis Bal Harbour, the deal is the second-largest condominium sale in Miami-Dade County, following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum in May.
It is considered as one unit, the deal is the second-largest condominium sale in Miami-Dade County, following the $25 million purchase of a unit by an Italian buyer at South Beach’s Continuum in May.

Thursday, July 26, 2012

Imperial Real Estate Group: South Florida condo market is growing

Imperial Real Estate Group: South Florida condo market is growing: South Florida condo market is entering new growth phase. At least 45 towers with more than 7,600 units have been propos...

South Florida condo market is growing



South Florida condo market is entering new growth phase.
At least 45 towers with more than 7,600 units have been proposed — with five towers already under construction — along the coast in Miami-Dade, Broward, and Palm Beach counties in the last 14 months.
 Developers starting to build thousands of new apartments units  in South Florida which could be converted into condominiums in the future due to strong rents being collected from tenants who cannot or will not buy their own residences.
As of March 31, about 3,900 developer units remain unsold out of a pool of nearly 49,000 units created during the last boom in South Florida’s seven largest coastal condo markets of greater downtown Miami; South Beach; Sunny Isles Beach; Hollywood and Hallandale Beach; downtown Fort Lauderdale and Fort Lauderdale beach; Boca Raton and Deerfield Beach; and downtown West Palm Beach and Palm Beach.

Wednesday, July 25, 2012

Sunny Isles Beach is Booming with new developments




Sunny Isles Beach in Miami-Dade County fast becoming the epicenter of South Florida’s condo boom, the Miami Herald reported. Six condo towers are currently being developed in the area, which represents approximately 15 percent of the more than 45 towers proposed through July 2012 in South Florida’s tri-county region. Another 530 luxury units will be built on nearly 40 blocks along Collins Avenue, and more are expected to come. 
Developers have purchased an additional four condo sites in Sunny Isles Beach, containing more than 580 units, all of which have been approved for residential towers.  Investment group has recently purchased the loan for a partially completed condo tower that has been approved to contain 134 condo units and 140 hotel rooms. If this pace of development continues, Sunny Isles Beach could see its total number of condos increase by more than 1,200 units.

Thursday, July 12, 2012

Amazing Penthouse in Trump Palace for rent or sale


Mortgage rates fall to new lows 30-year loans averaging just above 3.5%



Interest rates fell to new historic lows this week for both 30- and 15-year fixed-rate home loans.  30-year fixed rate loans now averaging just above 3.5 percent, Freddie Mac reported today. 
Average interest rates on 15-year fixed-rate loans also dropped this week to new lows to 2.86 percent after being at 2.89 percent the week before, Freddie Mac said. The 15-year fixed rate loan has average below 3 percent for seven weeks. Last year at this time the average rate was at 3.66 percent

Epicure Market location in Sunny Isles sold!

  


 Sunny Isles Beach location of Epicure Market has been sold for $19 million, according to the South Florida Business Journal. The buyer was a group connected with Gil Dezer, who has developed a number of condominium projects in the Sunny Isles Beach area. Jerry’s Famous Deli was the seller of the project,  Epicure also has a location on Miami Beach’s Alton Road, just across from the Lincoln Road pedestrian mall.

Imperial Real Estate Group: $175 million settlement on fair lending with Wells...

Imperial Real Estate Group: $175 million settlement on fair lending with Wells...: The Department of Justice has reached a settlement with Wells Fargo Bank regarding an alleged pattern of discrimination against qualified Af...

$175 million settlement on fair lending with Wells Fargo Bank


 The Department of Justice has reached a settlement with Wells Fargo Bank regarding an alleged pattern of discrimination against qualified African-American and Hispanic borrowers for a 5 year period beginning in 2004. The settlement gives $125 million in compensation for borrowers who were  led into taking out subprime mortgages or who paid higher fees than similarly-qualified white borrowers. The additional $50 million will provide direct payments for down payment assistance of residents in eight U.S. metro areas.