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December 11, 2005
LaVogue in Williams Island, Aventura
We’ve Put A New Sense Of Style Into The Williams Island Life Style. Williams Island has long been known as Florida’s Riviera, one of the area’s most pleasurable and prestigious places to live. And for those who relish great style and sophistication, you’ll feel more at home here than ever before. For now there is LaVogue. LaVogue represents the last opportunity of its kind, for it occupies Williams Island’s only remaining residential site. It’s a 24-story boutique-style condominium with only 70 very chic, very private, very exclusive residences. There will be only four to a floor, each a corner unit and each serviced by a private elevator. With its distinctive elliptical shape highlighted by wrap-around glass balconies, LaVogue is certain to become Williams Island’s signature building.
You’ll enjoy sweeping water views in all directions, further enhanced by 10-foot-high ceilings and the expansive terraces. Luxury abounds, including interior finishes featuring the finest brand name appointments. You’ll also find an attentive staff, headed up by a knowledgeable concierge, to see to all the details.
For more information regarding the above web blog, please call Dean or Bonnie Isenberg at 305-936-2489 / 800-819-5466 or visit us on-line at A-Realtor.Com
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Posted by South Florida Realtor at 09:58 PM | TrackBack
Florida's home resales' median price rises in October
ORLANDO, Fla. - Home sales statistics from the Florida Association of Realtors® (FAR) show that home prices continued to rise but the number of sales fell in October, notably in southern areas directly impacted by Hurricane Wilma's march across the state. Most insurers stopped issuing new policies when the hurricane neared Florida, and, following the storm, some lenders required a re-inspection of properties before they would release mortgage money.
Despite storm problems, however, the state's median home price rose 28 percent in October to $241,000 from $188,800 in October 2004. In September 2005, the median price was $247,800. In October 2000, FAR records show the statewide median sales price was $116,100, resulting in an increase of 107 percent over the five-year-period.
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Many Realtors across the state report gains in housing supply, giving buyers a larger selection of homes to consider. Statewide, a total of 16,029 existing single-family homes sold last month compared to 16,844 homes a year ago for a decrease of 5 percent, according to FAR.
The national median existing-home price in September was $212,000, up 13.4 percent from the previous September's median price of $187,000, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $543,980 in September; in New York, the median price was $275,000; and in North Carolina, the average resales price was $208,097.
Interest rates for a 30-year fixed-rate mortgage averaged 6.07 percent in October, a slight increase from the average 5.72 percent in October 2004. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.
Among the state’s larger markets, the Daytona Beach metropolitan statistical area (MSA) reported that 1,037 homes sold in October for an 18 percent gain over October 2004 home sales of 881. The median home price in Daytona Beach rose 35 percent over the same time period, from $165,000 in October 2004 to $223,300 in October 2005.
Shawn M. Goepfert, president of the Daytona Beach Area Association of Realtors and owner of Ideal Realty of Volusia, says that demand for Daytona-area homes is now catching up with supply. "We started 2005 off with only about 1,000 residential listings, really robust sales and it taking only about two or three weeks to get a contract," Goepfert says. "That demand really pushed up our sales price, but in the last 30 days, our inventory has increased to about 3,000 residential listings."
Other larger MSAs with strong sales and price increases include Jacksonville, with 1,504 home sales in October for a 38 percent gain over October 2004 sales numbers; and Tampa-St. Petersburg-Clearwater, with 3,735 homes sold for an increase of 4 percent over the same time period. Prices also rose in both markets over the year. In Jacksonville, the median price rose 20 percent to $191,600; in Tampa-St. Petersburg-Clearwater the median price rose 35 percent to $225,700.
Among the state’s smaller MSAs, Lakeland-Winter Haven posted a 24 percent gain in home sales in October, with 513 homes changing hands compared to 414 homes a year ago. The market’s median sales price rose 50 percent in October to $173,500; last year, it was $115,500.
"I think people have discovered our little secret," says Peggy Daley, treasurer of the Lakeland Association of Realtors and a Realtor with ImperiaLakes Realty Services in Lakeland. "We've got the best of everything. People are moving here in droves from South Florida, plus people from the North keep coming down and quickly realize that we're centrally located with easy access to Tampa or Orlando -- but without the traffic."
Other smaller MSAs that posted gains in the number of homes sold in October include Ocala, where 482 homes sold for a 15 percent jump; and Tallahassee, where 393 homes sold for an 18 percent increase. The median sales price in those markets also rose. In Ocala, it rose 38 percent to $159,200; and in Tallahassee, 19 percent to $172,700.
For more information regarding the above web blog, please call Dean or Bonnie Isenberg at 305-936-2489 / 800-819-5466 or visit us on-line at A-Realtor.Com
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Posted by South Florida Realtor at 09:31 PM | TrackBack
Rates on 30-year mortgages rise for the first time in three weeks
A-Realtor.Com Web Site
WASHINGTON -- Rates on 30-year mortgages, which had fallen for two weeks, resumed their increases this week.
Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.32 percent this week, up from 6.26 percent last week.
Rates three weeks ago had hit 6.37 percent, which had been the highest level in more than two years.
Anaysts said the booming housing sector, which has been cooling a bit under the weight of rising rates, should slow further in coming months. The slowdown, however, won't be enough to stop sales of both existing and new homes from setting a fifth straight record in 2005, economists said.
Frank Nothaft, chief economist at Freddie Mac, said even with the recent increases, 30-year mortgages, by far the most popular mortgage type, so far this year have remained close to the averages set in the past two years.
"These low rates helped the housing market set records for home sales and new construction over the past three years," he said. "Looking ahead, as mortgages rates rise, housing activity will ease somewhat."
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.87 percent this week, up from 5.81 percent last week.
One-year adjustable rate mortgages were unchanged at 5.16 percent while rates on five-year hybrid adjustable rate mortgages averaged 5.78 percent this week, up slightly from 5.76 percent last week.
The nationwide averages for mortgage rates do not include add-on fees known as points. Thirty-year and 15-year mortgages each carried a nationwide average fee of 0.6 point while one-year ARMs had a 0.8 point fee and five-year hybrid ARMs carried a fee of 0.7 point.
A year ago, 30-year mortgages averaged 5.71 percent, 15-year mortgages were at 5.14 percent and one-year ARMs averaged 4.15 percent. Freddie Mac does not have historical data on the five-year ARM which it began tracking this year.
For more information regarding the above web blog, please call Dean or Bonnie Isenberg at 305-936-2489 / 800-819-5466 or visit us on-line at A-Realtor.Com
Click Here To E-Mail The “I-Team”
Click Here To Request More Information About The Above Web Blog
Sell Your PreConstruction.COMmission Free
Thank You !