SOUTH FLORIDA CONDO RENTALS

Why Will you Choose Florida Vacation Rental Home?

2008-07-14T16:27:00.000+05:30

Suddenly, if you come to know about vacation rental homes wherein you can stay while holidaying in Florida, then the immediate question will come in your mind that why I will choose vacation rental abode in Florida. What additional advantages can I get there? To explain these questions, the following points are appropriate.

Suitable to cope up with purposes and persons:

You can go to Florida for honeymoon purpose, or for making a family holiday. The vacation rental homes in Florida are available in various sizes. Some are appropriate for romantic couple; some are made for larger group. But, this facility is not all time available in hotels. Furthermore, for obtaining these condos, you will have to spend as much as hotels generally charge.

An opportunity of holidaying in seclusion and own way.

Your craving for holidaying in seclusion and comfort can be fulfilled at the Florida vacation rental home. Accented on travelers’ privacy and coziness, all vacation condos will enable you to enjoy vacation in your own way. Whether you want to observe the dark beauty of sea from terrace or want to walk through the beaches late at the night, all you can do here without any restriction.

After traveling whole day, relax at a homely atmosphere:

This unmatched facility is only obtainable at Vacation rental condos. After enjoying the day on seashore, or sight seeing, you need some relaxation at night. Unlike hotels, here you can avail more space, choose a cozy place and unwind yourself by listening to music, watching TV, enjoying movies in CD players or reading books. And if you feel hungry, cook your desired dishes at the well-equipped kitchen. All together, at the vacation rental condos, you won’t miss your home at all.

More Facilities …More Fun:

Have you ever thought that after holidaying, you will come back your home with fresh clothes? It is unbelievable! But, at Florida vacation rental abodes, it is possible. Here you can access washer and dryer. So do not worry about cleaning clothes. Besides, other amenities, like swimming pool, indoor games, Telephone and at some Florida vacation rental home, you can avail the internet accessing facility as well.

Start searching…Opt for the best one:
Are you interested in staying at vacation rental home during Florida vacation? Start searching for that. On the internet, you can get various sites, where you will avail information about Florida vacation rental home. Availing combo package that includes plane fare, accommodation and car rental together can be profitable for you too. Besides, you can opt for vacation rental home directly from property owner.

source:http://www.articlesbase.com/camping-articles/why-will-you-choose-florida-vacation-rental-home-238144.html

Living in Florida: Discovering Who You Are

2008-04-04T10:13:00.000+05:30

When you start to think about living in Florida, you might be focused on the beaches, the sports teams, golf or the nightlife, but what you’ll quickly discover is that it’s a lot more than that.

Living in Florida is about taking the time to discover who you are.

When you are looking at places to live in Florida, for example, you’ll first start thinking about what type of home you’re looking for. You might want a Florida condo because you want to have a home that’s low maintenance; on the other end of the spectrum, if you want to be able to make a number of changes to your home, a single family property might be a far better idea.

Similarly, if you’re a beach person, you’ll want to be sure that you have access to the beach. Living in Florida is not just about fun in the sun, though, it’s also about relaxing while listening the waves or enjoying watching the sun rise.

Each of these elements of your personality doesn’t just shape who you are, it also shapes where you want to live and how the experience of living in Florida is for you.

Resource: www.seasideviews.com

Choosing the Right Miami Condo for You

2008-03-05T12:29:00.000+05:30

There are increasing numbers of individuals who are buying condos. Married and singles are buying condos these days. Condos in Miami are also being bought by baby boomers as their retirement homes. Actually, Miami condos are good starter home for the first time home buyers.

There are some individuals who are asking if condos are good investments.

For first time condo buyers, they have to realize that in buying a condo, they are also buying a unit that comes with set of rules. Yes, indeed, each condo buildings have different rules and these rules are made for the safety and security of there condo owners.

There are some individuals who are thinking on how serious they must look over in the condo rules. If you are planning to buy a condo, you have to study and understand the rules first before deciding buying it. You have to assure yourself that you can abide with the rules. Take a look if the rules can suit your lifestyle.

It is best to look for several condos, ask for their rates, rules, look at the unit and building, is the unit is big enough for you, do you prepare to have a huge balcony or a small one will do, these are few of the things you need to consider and look up to in seeking for the right Miami condo for you.

All the condos have rules which are designed to make an easy living for people who live there. But the question is will you really gain an easy living with these rules? Are you a type of person who rises early and prefer to dance with the beat of your radio? But is playing music that early is allowed with the rules? Do you love pets; do you own a dog which you usually walk with early morning? But are pets allowed in that condo? Can you bring your dog in the balcony and barks aloud which can wake up other people? These are few of the things that you do, but are these allowed in the rules. So it is best that you check out all the rules before you buy a condo.

There are plenty of Miami condos out there, you can check out few and look into their rules. You can use the internet in seeking Miami condos. There are plenty of websites that offer Miami condos, you can check out few and compare each. Look at the rules of each condo and look for the one that can best suit your lifestyle.

As a first time condo buyer, you can work with a realtor. Just make sure to get the one that is familiar with the market. Contact few realtors and check out their expertise and pick up the one that you believe is the right one.

As soon as you find the right Miami condo for you, you will definitely enjoy your stay...

resource: www.ezinearticles.com

Jacksonville Loft Condos: Your Style at Home

2008-02-09T16:51:00.000+05:30

When you decide that you’ll look into living in a Jacksonville loft condominium, the one thing that you’ll find is that a loft mirrors your style within your home.

Trendy Jacksonville loft condos with wide open floor plans, great views, unique finishes, modern appliances and just the right amount of style make it easy for their residents to have a home that really looks and feels just the way that they want it to.

As a result, it’s easy to entertain and spend time with friends. It’s easy to prepare meals your way - but take out and going out are always an option too.

There’s a certain flexibility that loft condos offer that other homes just don’t have: while it’s not necessarily easy to describe - as soon as you’ve experienced it for yourself you’ll know just how special it is.

Source : http://www.seasideviews.com/

Condominium and Home Lease Options | Ft. Lauderdale, Florida

2008-02-09T16:50:00.001+05:30

Q: What is a lease option?

A: It is an agreement between a renter and a landlord in which the renter signs a lease with an option to purchase the condo or single family home. The option only binds the seller; the tenant has a choice to make a purchase or not. Lease options are common among buyers who would like to own a condominium or home but do not have enough money for the down payment and closing costs. A lease option may also be attractive to tenants who are working to improve bad credit before approaching a lender for a home loan.

Q: How does a lease option work?

A: A landlord agrees to give a renter an exclusive option to purchase the property. The option price is usually determined at the outset, but not always, and the agreement states when the purchase should take place – whether, say, six months, or a year or two down the road. A portion of the rent is used to make the future down payment. Most lenders will accept the down payment if the rental payments exceed the market rent and a valid lease-purchase agreement is in effect. Before you opt to do a lease option, find out as much as possible about how they work. Talk to real estate agents, read published materials, and, in the end, have an attorney review any paperwork before you sign on the dotted line.We have a wide variety of oceanfront condominiums and intracoastal waterfront homes available for sale and for lease in the Fort Lauderdale, Florida area.

Source : http://rismedia.com/

Miami Realtor's condo blog landed him a job -- for 5 weeks

2008-02-06T15:31:00.000+05:30

Miami Realtor Lucas Lechuga's popular blog on Miami's tumultuous condo market helped him land a position as an associate at one of south Florida's most prestigious real estate brokerages.

Five weeks later, Lechuga's new broker severed its ties with him, after he and the firm were hit with a $25 million defamation lawsuit by one of the city's most prominent developers over a blog post he wrote before landing his new job.

The story has captured the attention of real estate bloggers, agents and the brokers who employ them, as they continue to assess how to best make use of this relatively new medium for connecting with consumers.

Lechuga's Miami Condo Investments blog has an active following that includes condo buyers and sellers who are trying to get a handle on where the city's often speculative condo market might be headed next.

Many are looking for insight into how individual projects are faring, including details such as whether buyers are backing out of agreements to buy units over fears about falling prices.

Lechuga, a real estate agent for three years, blogs about Miami condo developments concentrated in Brickell corridor, the city's financial district, providing statistics like the closing rates of new developments, prices per square foot, and recent and pending sales.

The statistics are sometimes accompanied by photos and video of new developments Lechuga takes as he makes his rounds. Those images are especially popular with prospective buyers who haven't seen the buildings in person, Lechuga said.

"Buyers with contracts (to purchase a condo in a new development) love the fact that I can go into these buildings before they close, and take pictures of areas like the lobby and the pool deck," Lechuga said.

With a background in finance -- Lechuga was a trader at the Chicago Board of Options Exchange before getting into real estate -- the blogger also dispenses opinions and advice to readers.

Potential buyers follow closing rates closely, because they want to know whether units in a new development will be in demand or languish in Miami's highly speculative condo market.

"I'd never advise buyers to buy into a development with a 50 percent closing rate," Lechuga said. Even a 75 percent or 80 percent closing rate, he said, "is kind of risky. The best deals are when a development is 90 percent closed ... when people are still a little nervous."

Granddaddy of Miami real estate

What got Lechuga into hot water with renowned Brickell developer Tibor Hollo wasn't his Jan. 10 prediction that Hollo's new 56-story, 635-unit Opera Tower condo project was "doomed" or that its default rate could exceed 50 percent.

According to Hollo, it was an earlier, Nov. 25 blog post about Opera Tower that raised his ire. Lechuga, who had heard that Hollo had gone through a rough spot years ago, wrote: "This developer went bankrupt in the 1980s and I think we'll see a repeat performance within the next 6 months."

Hollo, once described by a local business journal as "the undisputed granddaddy of Miami real estate development" -- does not deny that, like most developers, he's had his ups and downs.

He recently told the Miami Herald that he lost "tens of millions of dollars" when lenders foreclosed on several of his properties in the early 1990s. But it was all his own money, he told the Herald, and he never filed for bankruptcy protection from creditors in court.

"I never went bankrupt in my life, and this is something that is very easy to check," Hollo told Inman News. "You look at public records."

If Lechuga had said, "I think (he) went into bankruptcy, that would have been different," Hollo said. "But this was such an affirmative statement, my best friends started to believe it."

Lechuga said he never claimed Hollo filed for bankruptcy, and that the definition of the word "bankrupt" is open to interpretation.

"You can say that someone is emotionally bankrupt -- it's the same for financial," Lechuga said. The word bankrupt "could mean they were down in the gutter, that they lost a lot of money," without actually filing for bankruptcy protection in court.

Hollo, who was born in Hungary and reportedly survived Nazi concentration camps Auschwitz and Matthausen before coming to the U.S. in 1948, claims to have built the first high-rise building on Miami's Brickell Avenue more than five decades ago.

"I am in business 58 years," he said. "I have developed a very fine reputation personally and in business ... and when I see that somebody shoots off their mouth irresponsibly and my bankers call me, I feel that my reputation was damaged irreparably by such a thing."

Lechuga has since edited the post, removing the reference to the developer having been bankrupt. But he has not backed down from his prediction that the project faces an uncertain future.

"I think it is likely that we will see a majority of these condos owned by the bank that loaned money to the developer of Opera Tower by April 2008," the post now reads.

Lechuga said his predictions that buyers would back out of closings at Opera Tower were based on "a number of phone calls" he received from contract holders saying they had no intention of closing.

"It's not like I'm picking on Opera Tower. I want to provide consumers with all relevant information," Lechuga said. "That's why I'm a trusted source about the Miami condo market. I get calls from buyers all the time saying … we know this isn't a good time to be buying, but you aren't going to sugarcoat it, and put us into any old property because it's overpriced."

Hollo says closings at Opera Tower began only in January, and it remains to be seen what the final closing rate will be.

After conducting about 40 closings in January, Hollo said he hopes to ramp up the pace to 50 closings this month and 60 by March. It's physically impossible to do more than two or three closings a day, he said, because of the need to walk each buyer through their unit and complete punch lists.

"I don't think we have more than 30 buyers that don't want to close, and they sometimes have good reasons," Hollo said. One widow, he said by example, is backing out after her husband died. Another buyer is relocating out of the state for a job. "Thank heavens we are going to be proving Mr. Lechuga wrong."

Hollo says it was Lechuga's claim that he went bankrupt that prompted him to sue, rather than worries that the Realtor's warnings would cause more buyers to back out.

"I couldn't have done anything about it, and I wouldn't have done anything about it," Hollo said of Lechuga's claims that buyers will back out en masse.

Opera Tower lawsuits

But Hollo himself was hit with more than a dozen lawsuits in the weeks after Lechuga blogged about his doubts about Opera Tower.

Federal court records show that since Dec. 21, 15 lawsuits have been filed against Opera Tower LLC, the limited liability company formed to build the development, by would-be buyers seeking refunds of their deposits.

A typical example is a Jan. 28 suit filed on behalf of Rama Investments LLC and Raul Gonzalez-Gil, seeking the return of an $81,983 deposit put down in November 2004 for a condo on the 16th floor.

Rama Investments' lawsuit claims neighboring high-rises obstruct views of Biscayne Bay, that the "oversized Olympic style swimming pool" is smaller than promised, and that ceramic tiles were installed rather than the promised "designer tile kitchens, foyers and bathrooms."

Hollo has been dismissive of the lawsuits in the local press, saying they were filed by "flippers" who were only looking to make a quick buck.

But soon after the first lawsuits against Opera Tower were filed, Hollo had attorneys draw up a $25 million defamation suit against Lechuga and his erstwhile employer, Esslinger-Wooten-Maxwell, a real estate broker with 750 agents at 12 offices in Miami-Dade and Broward counties.

EWM promptly severed its ties Lechuga, who had only been an EWM associate for about five weeks.

"The first I ever heard about it was the lawsuit," Lechuga said, still sounding amazed at the turn of events his life has taken.

A chilling effect?

The story caused a buzz in the growing ranks of real estate bloggers. Some may never have given much thought to the possibility that they could be sued or fired over something they said on their own, personal blog.

The perception that EWM was on the wrong side of a free speech issue was reinforced, perhaps, by comments the firm's president, Ron Shuffield, made in a story published in the Herald on Jan. 28, the day Lechuga was let go.

The story quoted Shuffield as saying EWM did not "condone making statements, especially negative statements, about anyone" and that the company encouraged "associates to be a positive source of information."

That may have left some real estate bloggers with the impression that EWM wouldn't allow its associates to engage in the kind of frank, tell-it-like-it-is style of blogging that helps them come across as knowledgeable, credible authorities on their markets.

"I wonder if this will put the scare on other Miami bloggers and in particular, other Esslinger-Wooten-Maxwell Realtors," wrote Dustin Luther, founder of the influential Seattle real estate blog RainCityGuide.com, on his 4realz.net blog.

But Shuffield and EWM Chief Operating Officer Beth Butler, who oversees the company's blogging efforts, say the company's associates aren't being asked to paint a rosy picture that's only one side of the story -- only to verify that what they say in their blogs is accurate.

"There's a lot of stuff we put out, that I personally put out, that's not happy news," Shuffield told Inman News. "There is lots of inventory down here; sales have been flat for a long time; and we're realistic with our sellers that this is not going to turn around next month."

While Shuffield sees EWM and its associates as information providers -- feeding clients data on comparable sales and neighborhood trends, for instance -- "I don't see us as a news source," he said. "Bloggers in our office are becoming the primary source of information for their neighborhoods and markets that they deal in, but I don't think any of our people think of themselves as investigative reporters."

Shuffield said that while he's comfortable with EWM associates offering their opinions, he'd rather see them talking about neighborhoods and properties than people.

"We are big believers in blogging, and that getting that information out can be very helpful to people," Shuffield said. "I get nervous when I start hearing statements about people, or (information about) people becoming more critical than buildings or neighborhoods."

For Shuffield, it's important that "what we're reporting is accurate, and based on first-hand information. The rumor on the street is how people's reputations get damaged. I say all the time when you join our company, our reputation becomes yours, and your reputation becomes mine."

That's a view shared by Jim Duncan, a second-generation Realtor based in Charlottesville, Va.

Writing on BloodhoundBlog, a collaborative blog written by and for real estate professionals, Duncan said, "I hear rumors all the time. But I rarely blog about them."

Duncan said he's been blogging about three years and isn't afraid of controversy. As the co-editor of the editorial page of the school paper at Virginia Military Institute, he said, "I wrote things counter to administration policy that I'd get called onto the carpet for -- literally. I'd get called into the commandant's office and have to salute and everything."

Duncan doesn't want to get sued, but more importantly, he said, it takes a long time to build a reputation, and a reputation is something worth protecting.

"I trade on my credibility -- with my clients and potential clients, my fellow Realtors, builders, developers, the public and the media," Duncan wrote on BloodhoundBlog. "Damaging that credibility -- even by an infinitesimal amount -- is not an option."

As the son of two Realtors who did deals on a handshake, "I take tremendous pride and satisfaction that my word is my bond," he said.

Duncan says he frequently expresses opinions in his writing, and that while his blog is primarily a local real estate blog, he covers "politics and all sorts of stuff."

By expressing his opinions in a "cogent way that's based on fact," he's used his blog to build a reputation as an authority.

"I just got a call from a local news station 20 minutes ago," Duncan said. "They do look at me as a source who provides unfiltered and unbiased information."

Ironically, Lechuga said he was recruited by EWM because of his blog, and that a dispute over content on his Miami Condo Investments blog ended his relationship with a previous brokerage.

"They wanted me to edit comments" from readers who suggested it was a bad time to buy into the Miami condo market, Lechuga said. "I said, 'Their opinion matters just as much as mine. I'm not going to delete their comments just to make the Miami condo market look better.' "

EWM, Lechuga said, "is actually a very pro-blogging company. I went to them hoping they would accept the whole blogging platform, and be more open to honesty."

But Lechuga said others in the business warned him that EWM was owned by a large company -- Berkshire Hathaway affiliate HomeServices of America Inc. -- and would dissociate themselves from him if there was ever a controversy over his blog.

Butler does not dispute that EWM recruited Lechuga because of his blog.

"I came across a post he wrote, with market stats for the Brickell area, that I thought was very well done," EWM's chief operating officer said. "He did a great job of putting information out. Did I read every post? No. Had I read this post? No."

Butler oversees a company blog for EWM's 750 associates, which she said about 350 agents tried out when it was launched in August. Since then, she said, the number of contributors posting at least once a week has dwindled to about a dozen.

"We understand agents want to have their own branding," she said, so agents are able to use an RSS feed to send their posts to both the company blog and their own personal blogs, which can be accessed by a tab on an individual agent's Web site.

At the moment, there's no official policy in place about maintaining individual blogs outside of company channels, but that could change, Butler said.

"It's probably good for every company to have a policy on individual agent's blogs," she said. Without one, "You get to be a certain size, and you're reading blogs all day" for problematic content.

Butler, who maintains her own outside blog on ActiveRain and has created a group on the site for EWM associates, sees blogging as in its infancy.

"Lucas (Lechuga), like every real estate blogger out there, is trying to figure out what this means," Butler said. "Do I want readers? Do I want business? They are all trying to define their online reputation. As he grows and matures, and as we grow and mature, we'll see whether we see eye to eye or not."

Lechuga, for his part, says he holds no grudge against EWM, and says he'd like to be associated with the firm again.

"I understand fully their position," Lechuga said. "EWM is a fantastic office to work for, and I wish this whole thing would just blow over and I could go back to work for them. I'm not bitter -- I want to move on."

Protect yourself

Defamation and libel suits are a constant threat to newspapers, publishers and bloggers. The law offers many defenses against libel suits, and large awards, especially to public figures, are uncommon. Many states limit damage awards unless alleged victims seek a retraction or correction and are refused.

But the cost of defending against such lawsuits can have a chilling effect on free speech.

"I'm very confident I'll prevail, but the legal costs, that's a worry," Lechuga said. Some attorneys he's talked to warned he could be facing a two- to three-year court battle, with legal fees of $200,000 to $300,000, he said.

There are some simple steps any blogger can take to lower the risk of a defamation or libel suit, and to limit their liability if they do end up in court.

The Media Bloggers Association -- founded by a blogger who, ironically, was threatened with legal action by the New York Times over a satirical post about the newspaper's correction policy -- recommends posting a clearly stated correction policy, and correcting mistakes promptly using strikethroughs or editor's notes.

The MBA publishes a list of principles for bloggers, many of which are employed by professional journalists, which includes:

* Stating what you know and how you know it, using links to supporting documents where possible and crediting sources. Don't plagiarize or pass off others' work as your own.

* Distinguish fact from rumor and speculation. Be intellectually honest when expressing opinion. Use your own name and provide a way for readers to communicate with you.

* Disclose conflicts of interest including personal relationships, financial considerations or other factors that might influence or appear to influence your independence and integrity. If you accept payments from advertisers or sponsors, clearly demarcate paid content.

* Respect the privacy of private citizens, who may not want photographs, videos or information about them made public. Use special sensitivity when dealing with children and inexperienced sources or subjects.

Source : http://www.inman.com/

Downtown hotel-condo project is tangled in lawsuit limbo

2008-01-28T17:06:00.000+05:30

Several buyers are demanding return of their deposits

The proposed partnership promised to be a grand one: a string of luxury boutique hotels rising in select cities throughout the western United States, Mexico and Hawaii.

Yet six months after signing a letter of intent to explore the venture, New York hotelier the Setai Group, which created Miami Beach's prominent The Setai, is locked in a legal battle with Steve Rebeil, a developer who hoped to make his 23-story San Diego hotel-condominium a West Coast flagship for the Setai brand.

In November, the Setai Group sued 5th Avenue Partners and its principal, Orange County developer Rebeil, alleging that the San Diego project is being falsely promoted as a Setai property under the name Setai San Diego.

Richard Burton, an attorney for the Setai Group, said his clients and 5th Avenue signed a letter of intent in May to explore a potential partnership. But the parties never came to terms and a final agreement was never forged, Burton said.

In a countersuit, 5th Avenue contends that it spent millions of dollars bringing the hotel-condominium project up to Setai standards and that the letter of intent is itself a binding contract, though final partnership documents were not signed.

Now the fate of the property, known as the Diegan before 5th Avenue announced the Setai name change in October, is uncertain. Meanwhile, some buyers who put deposits on the hotel's 185 rooms, suites and penthouses for condominium use want their money back.

One buyer, who asked not to be identified, said he demanded and received his full deposit this month, citing a termination clause in his Diegan contract that allows for a refund if a final report has not been issued by the California Department of Real Estate within six months after the date of a conditional report. The buyer said several other Diegan buyers have also been given their deposits.

In California, the sale or lease of five or more units falls under the jurisdiction of the Real Estate Department. Conditional reports permit developers to enter into binding contracts with buyers, subject to satisfying specified conditions of a project. All those conditions must be satisfied before a final report is issued and the developer can close escrow.

The department issued the Diegan a conditional report in October 2005. No final report has been issued, a department spokesman said.

5th Avenue Partners did not respond to questions about the Diegan or how many buyers have requested or received deposit returns.

Lee Millinax of Vertical Properties, the San Diego firm that handles sales for the property, said about 85 units at the Diegan have been sold for condominium use. Millinax said he has received from eight to 10 requests from buyers to have their deposits returned, which he forwarded to 5th Avenue.

John Vogt, an attorney for Rebeil and 5th Avenue, declined to answer specific questions about the disputed Setai joint venture. He said his clients have “a binding contract with Setai Group and we are proceeding full-bore in terms of man-hours, time and money on all fronts.”

“We are confident in the merits of our case, and we'll proceed through the court system to defend our rights,” Vogt said.

The Setai Group alleged that it was mislead by Rebeil about his past legal problems and his ability to bring other hotel properties to the proposed partnership.

Rebeil's past includes a 2004 tax-related felony conviction and subsequent incarceration, and the denial of a casino gaming license in 1997 after Nevada regulators deemed him to “lack good character, honesty and integrity.”

The Setai lawsuit claims that Rebeil's felony conviction, which Setai alleged was not properly disclosed, disqualifies Rebeil from having any ownership interest in a Setai project involving a casino or liquor license in Nevada or California.

Another point of contention was Rebeil's promise to deliver a prestigious Beverly Hills property to the proposed Setai partnership.

The building, owned by Hustler magazine publisher Larry Flynt, is a distinctive, curved 10-story structure at 8484 Wilshire Blvd. that the Setai Group hoped to transform into a five-star hotel.

Burton, Setai's attorney, said his client's chief interest in negotiating a potential joint venture was Rebeil's assertion that he could bring the Beverly Hills property into the deal.

“He represented that he had the rights to the Larry Flynt property, but we've never seen anything – no documents of agreement or an option obtained on a Beverly Hills property,” Burton said. “The thing that was the least concern for us was the Diegan. Our interest was more Beverly Hills, but the Diegan was the only thing we've ever seen any documents on.”

Joseph Manna, an attorney for Flynt, said neither Flynt nor any of Flynt's companies have any agreement with Rebeil or any of Rebeil's companies. Flynt himself is embroiled in a legal dispute with another developer, Ronald Stover, who alleged that his company has an option to buy the property from Flynt.

“Neither Rebeil, nor any of Rebeil's companies, have any interest in the 8484 Wilshire building through the owner of the building,” Manna said.

5th Avenue formally announced that the Setai Group would operate the Diegan as the Setai San Diego in an Oct. 18 news release, claiming that the San Diego property would be the first “five-star luxury condominium-hotel in the city as the result of a groundbreaking east coast-west coast partnership considered to be the first of its kind in the country.”

Within hours, the Setai Group's attorney informed 5th Avenue that talks were off and “improperly repudiated” the letter of intent, according to the 5th Avenue countersuit.

Burton said there was nothing improper about Setai pulling the plug. Final terms were never agreed on, so the proposed partnership never materialized, he said.

Burton said 5th Avenue repeatedly violated terms of the letter of intent, including issuing unauthorized news releases touting the partnership as a done deal and the Diegan name change to Setai San Diego.

One of several unresolved areas of contention was affixing the Setai name to the Diegan, Burton said. The Setai Group did not consider the Diegan to be of the required quality for a Setai property. For example, many of the rooms are too small to earn a five-star designation, Burton said.

If a partnership deal had been reached, Setai proposed to manage the Diegan as a Setai Rok or Setai Rox, a “younger” offshoot brand that Setai was planning, Burton said.

The Setai Group has developed the Setai Resort and Residences, a 40-story luxury hotel condominium in Miami Beach, as well as a 30-story luxury hotel-condominium in New York City.

Source : http://www.signonsandiego.com/

10 Reasons the South Florida Condominium Market is Hot

2008-01-22T16:48:00.000+05:30

Sapphire Condominium along Fort Lauderdale Beach released its Top 10 Reasons to Live in a Luxury Beach Condominium in South Florida.

1) It’s freezing everywhere else.
While your friends in New York and Minneapolis put on their massive winter coats to go outside, if you’re living in a South Florida beach condo, you’ll be basking in the sunshine and comfortable in shorts and a tee shirt year-round.

2) You can actually see water from your balcony.
And it’s not just a lake with a tacky fountain in the middle. Whether you have the view of the Atlantic Ocean meeting the horizon, or the Intracoastal Waterway surrounded by spectacular yachts and mansions, it’s a Zen experience.

3) Enticing family and friends to come see you more often.
Living in a beach condominium guarantees you’re the favorite destination for relatives and family members. Just be careful who you tell, you may be overwhelmed by newfound popularity.

4) Value for your dollar.
Just over half the world’s population - around 3.2 billion people - occupy a coastal strip just 200 kilometers wide (120 miles), representing only 10% of the earth’s land surface. Where do you think the most valuable one percent of that land exists? You guessed it…along the beachfront.

5) South Florida beaches are beautiful and fun, 12 months of the year.
December is as much “bathing suit month” as July. And even on those slightly cool days - and by cool in South Florida we’re talking 60 degrees - a brisk walk on the beach with your feet in the cool sand is truly a refreshing experience.

6) No need to worry about the menu or the place settings when entertaining.
Dazzling sunsets and a clear blue sky create a breathtaking setting for entertaining guests. Your friends will leave with something special to talk about, even if your food and entertaining skills just aren’t any good.

7) Beach walks at sunset relieve stress from the day.
Therapy in South Florida is defined by sand between your toes. When you live by the beach, there’s no worry about finding parking - you’re already home.

8) Frequent opportunities to sit down at the water’s edge with a good book.
For inspiration, there’s nothing better. The relaxing sound of waves crashing on the shore is the perfect accompaniment to a soothing afternoon of reading your favorite novel, self-help book or magazine.

9) No matter your job, when you live by the beach, you always feel like you are on vacation.
It’s hard to hold on to residual stress from the day when you look out the window and see paradise. Combine that with a luxurious new residence plus an array of incredible amenities and you have a resort-class lifestyle that feels like a perpetual vacation.

10) South Florida, particularly near the beach, is a great place to experience exceptional food, fun and culture. In a South Florida beach area location, sparkling white sand beaches and waterfront dining are just a stroll away, and you’re only minutes from distinctive boutiques, art galleries, cultural and entertainment venues, exhilarating nightlife and outstanding restaurants serving the freshest seafood available.

Source : http://rismedia.com/wp/

Factors That Keep the Miami Condo Rental Market Stable

2008-01-18T15:38:00.000+05:30

Most major commercial real estate developers in the US are forecasting that a combination of steady job growth and a slowly dwindling supply of rental housing, will contribute to making the city of Miami one of the strongest condo markets in the country this year.

This forecast is based on a recent report analyzing the US apartment and condo market, wherein 42 metropolitan areas were reviewed based on their vacancy rates, current construction, affordability, job growth and rental trends. The report viewed Miami is one of the strongest condo markets in the nation.

Job Growth, Low Vacancy Rates Contribute To Miami's Steady Condo Market

A significant part Miami's steady condo market can be atrributed to the area's recent trends, which include job growth, low vacancy rates, and a sizable reduction in apartment supply. Property analysts view that alongside San Diego, Miami is the only metropolitan area in the US where the supply of apartments is fast declining.

The fact that a large segment of Miami apartments are being converted into Miami condos faster than new ones are being built., may cause vacancy rates here to become even lower, and may lead to a further increase in demand for condos. Another factor that further strengthens the area's condo market, is the number of investors that are buying condos, both natural and converted, some of which will end up reappearing back onto the local rental market soon.

Condo Conversions Are Keeping Rentals Reasonable

Commercial property analysts say that the recent trend of condo conversions in Miami, wherein developers upgrade apartments and put them on the market as a condo, is keeping the city's rental hikes from becoming unreasonable, since many apartment owners here are apprehensive to raise rents on their properties because of the high concentration of condo activity here. Many condo conversion owners fear that a rapid rise in rents will cause many current renters to become condo buyers instead.

This city has long been a favorite vacation or second-home destination for people from the northeastern part of the country, however a mixture of factors like low interest rates, Latin American economic woes, and the dollars' pitfalls against the euro, have led foreign investors to view this city as an affordable alternative to skyrocketing European real estate.

Commercial property analysts predict that a shortage of available Miami condos could be in the running in the near future. Nevertheless, it is really quite difficult to accurately make a forecast.

The heightened surge in the city's condominium market has fuelled a boom in newer development projects. Currently, a lot of projects are on the verge of completion, aiming to provide the local market with everything from relatively inexpensive studio-type condo units to exclusive, upscale condos with ocean views and first-class facilities.

Some prospective clients hope that the condo prices will significantly drop when all the projects have finally settled. It is estimated that more than 50,000 condos will be added to local market within the next 10 years. In downtown Miami, a 35 story condominium tower named the Avenue is already ready for occupancy, and will add 570 units to the local housing market.

Source : http://www.turks.us/

South Florida Condos Buckle Under Hundreds Of Foreclosures

2008-01-14T17:12:00.000+05:30

It has been two months since Arnold Kovelman moved into his rented condo at Club at Brickell Bay in Miami, when he heard the knock on the door at 8 a.m.

''I was kind of like sleep walking and this woman is there with a badge. She's saying she's the sheriff and she's there to serve my landlord a foreclosure,'' said Kovelman, 27, a senior account executive for a New York-based Web development company.

Kovelman's rental was one of 80 in the luxury condominium at 1200 Brickell Bay Dr. that dropped into foreclosure in 2007. The Club at Brickell Bay ranked first among condominiums in Miami-Dade and Broward counties with the most units in foreclosure. Borrowers owe lenders more than $42 million.

As the region's housing market sputters into the new year, a collection of largely unoccupied new towers are straining under hundreds of millions of dollars in defaulted mortgages. In the 20 buildings in Miami-Dade and Broward counties with the largest numbers of units in foreclosure, loans in default totaled more than $271.8 million, according to an analysis by Condo Vultures, a Bal Harbour real estate consulting firm and brokerage.

The epicenter is Miami's financial district along Brickell Avenue, where three of the top five buildings are located. Condo Vultures' principal Peter Zalewski jokingly refers to that area as Miami's ``foreclosure district.''

Source : http://www.turks.us/

Home sales to recover in '08, group says; So. Fla. could take longer

2008-01-14T16:48:00.000+05:30

A trade group for real estate agents predicted Tuesday that the pace of U.S. home sales will pick up significantly in the second half of 2008, bringing total sales for the year marginally higher than in 2007.

The monthly forecast from the National Association of Realtors calls for U.S. existing home sales to increase 0.9 percent this year to 5.7 million, up from a projected 5.65 million last year.

Final results for U.S. existing home sales in 2007 -- to be released later this month -- are expected to be down 12.7 percent from 6.48 million in 2006, the group said.

The group's forecast for 2008 was unchanged from last month. The trade group also forecast 5.91 million home sales in 2009.

Economists and analysts, however, are predicting far lower home sales and accuse the Realtors group of not painting an accurate picture of the housing market. Experts say home sales in South Florida will remain soft in 2008. They don't think the local housing market will begin to recover until 2009 or 2010.

``The exact timing and the strength of a home sales recovery is a bit uncertain,'' Lawrence Yun, the group's chief economist, said in a statement. ``A meaningful recovery in existing-home sales could occur as early as this spring, or it may be further delayed toward late 2008.''

Numerous economists, however, are much more pessimistic about the housing market this year and are predicting far lower home sales.

In addition, the group did not anticipate 2007's severe housing market downturn. A year ago, it was predicting more than 6.4 million existing home sales -- about 760,000 more than actually happened.

The group is predicting the median price for existing homes in the U.S. will have dropped 1.9 percent in 2007 to $217,600 (euro147,977) _ the first annual drop since the trade group began tracking the data.

That number is projected to remain flat in 2008 before rising to $224,400 (euro152,601) in 2009. The median is the point at which half sell for more money and half sell for less.

The trade group also said its index that forecasts near-term home sales fell 2.6 percent in November from an upwardly revised October number.

The trade group's seasonally adjusted index of pending sales for existing homes fell to a reading of 87.6 from an upwardly revised October index of 89.9, but was down 19.2 percent from a year ago. The index hit a record low in September at the peak of the worldwide credit squeeze.

The Realtors group predicted new home sales would fall 13.4 percent this year to 669,000, down from a projected total of 773,000 in 2007. It forecast new home sales would rebound to 730,000 in 2009 and projected new home prices would be flat this year at $242,200 (euro164,706), before rising to $256,500 (euro174,430) in 2009.

Source : http://www.sun-sentinel.com/

Castle Beach condos lets owners back after 2 years

2008-01-07T14:49:00.000+05:30

AFTER BEING CLOSED FOR 2 ½ YEARS AND STRUGGLING TO MEET A COMPLEX ASSORTMENT OF BUILDING CODES, THE CASTLE BEACH CONDOMINIUM HAS REOPENED, AND RESIDENTS HAVE RETURNED.

Robert Berman had been a resident of Castle Beach Condominium for close to a decade when he learned that he and the owners of the building's 586 units had to leave.

The condo, built in 1967, suffered structural damage and electrical wiring defects that led Miami Beach city engineers to close the building in April 2005.

''Being homeless is one of the worst experiences in the world,'' said Berman, 62. "It was a horrible feeling.''

Robert Stone, a certified public accountant, was given responsibility for the building by a Miami-Dade County Court.

He notified residents in a May 2005 letter that while repairs to the 18-story building, at 5445 Collins Ave., were being made, they would have to continue paying their monthly maintenance and assessments.

For Berman, that meant a $490 monthly maintenance fee and $600 in special assessments, not including his regular monthly mortgage. Residents also had to pay rent for temporary housing or seek refuge with friends and family.

Stone's letter estimated that repairs would cost about $20 million and take six months. It turned out to be 2 ½ years.

''At one point I didn't think we would ever get back in the building,'' said Berman, who moved in with his girlfriend in the interim.

Castle Beach Condo board president Caridad Amores said all major safety issues have been resolved and 80 percent of the building's structural damage has been repaired.

Residents celebrated the building's reopening in November.

''It definitely was a loss having to pay the mortgage, maintenance, special assessment fees and rent for temporary housing,'' said Francesco Stipo, 34, an international business attorney who moved into one of the penthouses in 2003.

''I'm very happy to be back,'' he said. "It's like waking up after a nightmare.''

The building, which first opened as the Hilton Plaza, has had many reincarnations and names.

In the 1970s, it became the Playboy Plaza, where Hugh Hefner had the penthouse suite.

Later it became the Plaza, the Miami Beach Hyatt House, the Konover Hotel, the Castle Premier Hotel, the Castle Hotel and Resort, Clarion Castle Hotel and Resort and the Castle Beach Hotel.

It became the Castle Beach Condominium in 1993.

The condo has encountered a ''perfect storm of problems,'' condo board president Amores said.

The trouble began in 2003, when a condo owner sued the condominium board, charging that the board had not properly maintained the ground-floor theater's roof.

The city said it had no choice but to enforce a mandatory evacuation order in 2005, because it had given the condo board repeated notice of code violations that were never fixed.

Assistant City Manager Tim Hemstreet said the building was ordered closed ``due to specific electrical violations that affected the safety of the building's occupants. It was reopened as these violations were corrected.''

When the building was evacuated, the court took power away from the board and gave control of the building to Stone.

But many unit owners, not satisfied with his management, sought to replace the receiver with a five-member board chosen by the owners. They succeeded.

The new condo board was appointed in November 2005 and ''is dedicated to making Castle Beach Condominium better than ever,'' Amores said.

Hemstreet said the condo association decided to reopen the building floor by floor starting in 2006.

While residents are breathing a sigh of relief, there is still much work to be done, including extensive plumbing and some window replacements. The pool also needs to be redone and the building needs to be repainted.

Additionally, a dozen commercial units on the ground floor cannot reopen until the outdated system that provides electricity to the building is replaced.

Resident Alex Solon, who owns a Russian and Turkish bathhouse inside the building that remains closed, is still out of work.

''It was a double whammy -- losing our residence and business,'' said Solon, 38. "It was devastating.''

Complicating the renovation process is how to finance the continuing repairs.

Because the building was closed by the city, obtaining a loan for the projects has been difficult, Berman said.

Today board members rely on the special assessments and a credit system granted by a few contractors, including Ideal Construction Solutions, which have come to their aid.

''It was heartbreaking as residents would stop by and inquire about the building's progress,'' said Jose Hernandez, project manager for Ideal Construction. "We are very proud of being part of this organization in an effort to bring people back home.''

Berman, also a member of the condo board, calls it ''creative financing'' and said he appreciates what Ideal Construction Service has done so far.

Ultimately, Berman said, a loan of between $15 million and $20 million will be necessary to complete the project.

Source : http://www.ccfj.net/

FAR: November home sales, prices down

2008-01-01T15:59:00.000+05:30

South Florida existing single-family home sales and prices declined again in November, the Florida Association of Realtors said.

In Fort Lauderdale, sales of existing single-family homes fell 34 percent to 401 from 605, as prices fell 4 percent to $348,100 from $362,000. In Miami, existing single-family home sales fell 59 percent -- the biggest drop in South Florida -- to 263 from 645, as prices fell 4 percent, to $359,300 from $372,400. In West Palm Beach-Boca Raton, existing single-family home sales fell 13 percent, to 459 from 525, as prices dropped 7 percent, to $345,700 from $370,400.

Near South Florida, median existing single family home sales:

* fell 25 percent in Fort Piece-Port St. Lucie, to 230 from 305, as prices declined 17 percent, to $206,300 from $247,600.
* fell 18 percent in Melbourne-Titusville-Palm Bay, to 379 from 461, as prices declined 9 percent, to $184,000 from $203,300.
* fell 29 percent in Punta Gorda, to 154 from 218, as prices declined 18 percent, to $177,300 from $215,100.

FAR said single-family home data from Fort Meyers-Cape Coral and Naples-Marco Island was not available.

FAR said existing condominium sales were down across the area, as well, though prices inched up 3 percent in Miami, to $264,700 from $257,400. Miami condo sales fell 53 percent, to 297 from 627.

In Fort Lauderdale, existing condo sales were down 23 percent, to 430 from 560, as prices dropped 17 percent, to $166,700 from $199,700. In West Palm Beach-Boca Raton, condo sales fell 17 percent, to 347 from 420, as prices fell 19 percent, to $177,400 from $219,800.

Near South Florida, median existing condo sales:

* increased 28 percent, to 68 from 53, in Fort Pierce-Port St. Lucie, as prices grew 6 percent, to $185,000 from $174,000.
* fell 37 percent, to 67 from 106, in Melbourne-Titusville-Palm Bay, as prices grew 10 percent, to $172,500 from $157,300.
* fell 36 percent, to 21 from 33, in Punta Gorda, as prices declined 24 percent, to $142,500 from $187,500.

FAR said condominium sales data from Fort Meyer-Cape Coral and Naples-Marco Island was not available.

Statewide, existing single-family home sales were down 30 percent in November, to 8,106 from 11,609, as prices declined 10 percent, to $215,800 from $239,800.

Condo sales in Florida fell 29 percent, to 2,375 from 3,356, as prices declined 9 percent, to $186,700 from $204,500.

Source : http://www.bizjournals.com/

Real Estate: Selling a Home in South Florida

2007-12-24T16:52:00.000+05:30

You have done a Real Estate investment by buying a house in South Florida and now you are determined to sell the property. But you are afraid of not selling it quickly. There are five important issues to take into account at the time of selling a home in South Florida. Location, home condition, the price, marketing strategy and the market. If your house for sale is in a good location as well as is in good condition, there wouldn’t be a problem to market it faster. Your Real Estate Agent will work out the best marketing strategy to sell the property quickly. And, among all this, you and your Agent will be evaluating the price and the market. However, you are not done yet.Buying or selling Real Estate is a great investment whether you are determined to live in there, rent it or selling it later to make a new Real Estate transaction. But, there are some rules to obey and your Real Estate Agent is the right one to assist you about.There are some interesting home selling tips to follow up:

Selling Tips - Useful Tips for Selling your Home THE HOME SELLING PROCESS

BLUE ONE Realty wants you to succeed in the home selling process. We provide here ten selling steps for you to look forward to buyers requirements. You need to be prepared. How? Plan your home selling process in advance.

WHY WOULD I WANT TO SELL MY HOME!
Whatever the answers are, you must contact a Real Estate Agent for assistance.

CHOOSING THE SELLING PRICE FOR YOUR HOME
Your Real Estate Agent at BLUE ONE Realty will give you the best selling price for your home.

GETTING YOUR HOME READY TO SELL
First impressions are very important factors into the selling process.

ESTABLISHING A MARKETING PLAN
Now, it’s true that your home is ready for sale! Your Real Estate Agent will be establishing a marketing plan together with you.

RECEIVING THE OFFER
Your Real Estate Agent must review all written documents and making sure to contain topics such as legal description of the property, offering price, down payment, financing arrangements...

NEGOTIATING THE OFFER
You and your Real Estate Agent must review the written offer and fully understand what the buyer is offering and what he asks in return.

THE VENDOR YOU NEED
Your Real Estate Agent will make sure that all procedures pertaining to the home inspection go smoothly.

PRE-CLOSING
Your Real Estate Agent will be in touch with the closing entity to make sure that all necessary documents will be available for you on time to sign.

CLOSING ON THE HOME
Your Real Estate Agent will be present during the closing to assist you during the process.

POST-CLOSING ACTIVITY
Congratulations! You have sold your home! However, there are just a few things pending before getting everything done.

Source : http://www.blueonerealty.com/

More condo owners in South Florida fail to pay share of fees

2007-12-19T16:40:00.000+05:30

It's the neighbors who must make up the money when condo owners don't pay their share of maintenance fees and special assessments.

And while failing to pay isn't a new problem, it seems to be happening more frequently now, callers tell the South Florida Sun-Sentinel's condo line.

Many of the delinquents are investors walking away from property, or owners who can't afford adjustable-rate mortgage payments that have ballooned.

At the Deerfield Lake condo in Deerfield Beach, 18 of the 75 owners have stopped paying since earlier this year. They are angry over a $1,400 special assessment imposed by the board to renovate roofs on the covered parking areas. They have refused to pay that as well.

"Since 1976 the roofs hadn't been repaired and they were dangerous," said Ed Stahl, an owner who has paid. "The board decided to repair them because all of us could have been liable if something happened."

When the association began filing liens against the 18, they filed their own suit, claiming the board illegally imposed the special assessment. They said the board gave improper notice to owners, did not let them speak at the meeting where the assessment was decided and questioned the choice of contractor.

The attorney for the 18 did not respond to three messages left on her voice mail. Attempts to reach several of the owners were unsuccessful.

The condo board denied their allegations and accused the 18 of failing to submit to mandatory arbitration as required by law. It also filed a countersuit against the owners to foreclose liens filed for not paying their assessments.

"It put us in a terrible situation," said Stahl, who is not a board member. "We didn't want to bring a lawyer in to sue these people but that's what we had to do. But it's taking a long time."

That's where the problem is. While the suits are mired in legal intricacies, the board has no money coming in from 18 units. Since the board had already contracted for the roof work, it had to pay or face suit.

So the board took out a $20,000 private line of credit, according to the community association manager, J.D. Keating.

The cases are pending in Broward Circuit Court.

What happens to the condo in the meantime is what concerns Stahl.

"We cannot maintain our common property unless the regular maintenance fees are paid by all," he said. "We're stuck. It isn't fair to people who live here and pay."

Gregory Ward, a Fort Lauderdale attorney who isn't connected to the case, is seeing similar problems throughout South Florida as a result of associations having to file liens and foreclosures against so many owners.

"Anecdotally, we've been hearing of a lack of timely repairs and problems with the day-to-day operations, such as garbage removal, because boards are now so preoccupied with collecting that they can't administer the property," he said.

It is one reason, he suspects, for the increased number of complaints filed with the state against condo boards, which increased from 1,413 in the year ending June 30, 2002, to 2,682 in the year that ended June 30.

"They're busy doing what they can to keep the association going and the cash flow coming in and they can't do it all," he said. "Boards are strained."

Source : http://www.ccfj.net/

Estate planning might move Huizenga to sell Dolphins

2007-12-17T17:36:00.000+05:30

While Miami Dolphins owner H. Wayne Huizenga is certainly disappointed with his team's 1-13 season, his interest in possibly selling the team and Dolphin Stadium has less to do with losses and more to do with estate planning and the type of offers he might receive.

Huizenga has been entertaining offers for the team from potential suitors for years, including recent talks with a pair of real estate developers, Stephen M. Ross and Jorge M. Perez. He turns 70 on Dec. 29 and has been planning for the future, divesting himself of public companies such as Boca Resorts, which he sold in 2004, and stepping down from the boards of AutoNation and Republic Services.

He is also concerned about the succession plan for the Dolphins, because his children are not interested in carrying on ownership of the team, sources said.

It was, after all, Huizenga who benefited from an estate situation when the Robbie family said it was forced to sell at least part of the Dolphins to pay off the late Joe Robbie's estate taxes. In 1990, Huizenga bought 15 percent of the team and 50 percent of the stadium for $30 million. In 1994, he completed purchases of the team and stadium for $138 million.

Huizenga wasn't talking about a possible sale Sunday, when his Dolphins beat Baltimore in overtime for their first win of the season.

"It you want to talk, I'll talk, but not about that," Huizenga said.

The team released a statement from Huizenga on Saturday saying he wasn't "actively looking to sell" the team. In 2000, he announced he would consider selling a minority stake for estate planning purposes.

A source said he believed Huizenga wouldn't accept less than $1 billion. In September, Forbes valued the team at $942 million.

The recent talks involve Ross, chairman and CEO of the Related Companies in New York, who would lead a bid that could include Perez, founder and chairman of Miami-based Related Group. But Huizenga is said to be so upset Perez leaked information about a possible deal that it could strain talks.

Hall of Fame linebacker Nick Buoniconti, who knows both Ross and Perez, said they would make good owners.

"They are both quality people, and if there is an ownership change, they are going to do what they have to do to make this team a winner," said Buoniconti, who plays golf with Ross, who has two homes in Palm Beach. "(They) would be like Wayne. I think Jorge has a burning desire to probably get more involved, Steve would probably not get as involved as Jorge. Jorge being a local guy, someone who has been successful...I'm sure he's going to want to put people in the position that they will make the right decisions to bring this franchise back."

Hall of Fame fullback Larry Csonka said he would have been happy to play for Huizenga.

"He's very direct, that's why he's been so successful in business," Csonka said. He's not a guy that changes. He is what he is."

Source : http://www.tradingmarkets.com/

Owners Take Law into Their Hands Against Association Boards in South Florida

2007-12-14T16:54:00.000+05:30

Lisa Magill, an attorney who represents condo and homeowner associations, had evidence three years ago that directors in a Pompano Beach-area condo stole $178,000. She reported it to police but "I couldn't get past step one," she said.

It's a civil matter, they told her.

Attitudes are changing. In Broward County alone, three court cases against former association directors, managers and employees charging fraud or misuse of owners' money are scheduled to be heard between Dec. 20 and Jan. 24.

"Now, there seemingly is a willingness on the part of law enforcement agencies and prosecutors to recognize that these cases aren't dogs, that they are real crimes like anything else," said Magill, president of the Southeast Florida chapter of the Community Associations Institute.

Her nonprofit group will conduct a free, all-day event Jan. 26 that will include an hour-long class on how to detect and prevent community association fraud. Owners can attend the one-hour class at 1:30 p.m. or the whole program at the Wynmoor Community Council in the 1300 block of the Avenue of the Stars, Coconut Creek. For more information and directions, see www.cai-seflorida.org.

State condo ombudsman Danille R. Carroll will be the keynote speaker. Her topic will be the Miami-Dade County pilot program she developed with state Rep. Julio Robaina, R-Miami, to get cases prosecuted. The program includes a brochure and checklist to help owners. See them under the heading "Pilot Program" in www.sun-sentinel.com/condos.

Magill credits Robaina for the change in attitude by law enforcement. Charges in the three pending Broward cases were filed by Broward State Attorney Mike Satz based on investigations by the Hallandale Beach, Hollywood and Davie police departments. Robaina is working to get officials in Palm Beach County involved.

CAI, a national organization based in Alexandria, Va., made up of lawyers, managers, accountants and other professionals who run condo and homeowner associations, isn't alone in trying to help owners and boards. Some associations are doing it on their own. For example, at Townhouses at Jacaranda in Plantation, the board set up a security and ethics program to prevent even the perception of dishonesty, said owner Bryan Sklar.

Sklar suggests boards require two signatures on all checks, use different accounting and auditing companies, disallow credit or ATM cards on any accounts, use a defined sealed-bid process for purchasing, publish for owners the policies and procedures used to protect their money and treat the association as a business.

Q&A Q. Denise Weinstein had her Coral Springs house and garage door painted mocha with white trim. No, said her homeowner association. The garage door can't be the same color as the house and must be white, like the trim.

The board ordered Weinstein to repaint the garage door white or her clicker for the gate would be disabled and she wouldn't be allowed to continue teaching Pilates to friends in the clubhouse.

Weinstein said her association documents don't require garage doors to be the trim color, which means the board is enforcing a nonexisting rule. Since she isn't violating the bylaws, does the board have the right to punish her, she asks.

A. Jeff Rembaum, a West Palm Beach attorney who deals with condo and homeowner issues, said Weinstein's board is powerless to require the change if it hasn't adopted architectural guidelines. If it has, then the board can require the change. He also said all owners must be told about any new standards.

The threat to disable her clicker is meaningless, Rembaum said. The board can't impede an owner's right to enter or exit the community.

If the association has adopted architectural guidelines and owners don't comply, the board might have the power to keep her out of the clubhouse. But no fine or suspension of privileges can be imposed without the association meeting a host of requirements spelled out in the law, such as providing the alleged offender with a hearing in front of three owners who aren't directors.

Source : http://www.multifamilyexecutive.com/

He vs. She on Florida's Beach

2007-12-11T15:31:00.000+05:30

Like any other couple who've been together 18 years, my wife and I still experience the occasional squabble.

Here's what we've agreed on. The kids will visit other family. We'll have a weekend to ourselves. And we'll use that time to enjoy a few of the finer things. No birthday parties or playdates. No soccer practice or swim class.

Nothing to it, right? Well, here's what we disagree on. We've each got our own favorite spots for pampering. Mary's idea of "The Good Life" doesn't always equal mine. Luckily, along Florida's Beach this is an "argument" with no wrong answers.

Here, then, is a luxurious battle of the sexes. A decadent duel, designed to wring every last blissful moment out of a precious, kid-free opportunity.

We might injure ourselves attempting to out-enjoy each other, but oh, what a chore it'll be trying.

Round One
The stay-over part of the discussion breaks down nice and easy. We'll stay at my choice for one night, then Mary's the next. With the Renaissance Vinoy Resort & Golf Club in downtown St. Petersburg and the Don CeSar Beach Resort on St. Pete Beach, it's like arguing about who's got a better serial number on their $100 bill. Both are equally excellent.

They've each got their own feel. The Vinoy: stately and classic, with its 1920s-era Mediterranean Revival architecture. It fronts lush open parks and the waters of Tampa Bay. And The Don – the pink palace – another restored gem. With its airy, beach elegance that opens onto the sands of the Gulf of Mexico.

In addition to spacious, modern rooms with spectacular views, both spots afford us prime chances for a favored ritual – the post-check-in cocktail. At the Vinoy, it's a 12-year-old Macallen for me and a cabernet for Mary from Marchand's, a posh dining spot on property. We follow our drinks with a
sit-down on the rockers on the veranda.

Over at the beach, the Don CeSar's Lobby Bar provides a bright, wide-open panorama in a sort of "grand hall." And it's just a step outside to take in a Gulf Coast sunset.

Round Two
With a place to stay now settled, attention turns to the issue of where to go. In a nod to each other's tastes, we'll play golf and visit a museum.

As three-time major tournament winner Ernie Els knows, the Innisbrook Resort & Golf Club provides the Florida's Beach area with a superior layout. "The Copperhead course is the best golf course the PGA plays in Florida," Els has said. An impressive referral, considering the competition of Arnold Palmer's Bay Hill in Orlando, the Doral in Miami and the TPC course in Ponte Vedra Beach.

But Innisbrook is outdoor luxury at its finest. Designed by Lawrence Packard and honored by Golf Digest (ranked in America's Top Resort Courses), it presents challenge and beauty. Elevation changes, tall pine-lined fairways and service that matches the course level,
with clubs loaded onto your cart for you and impeccable shops and facilities. Not quite pros, Mary and I still feel lavished with attention.

Back near the Vinoy, St. Petersburg's Museum of Fine Arts is more a reflection of Mary's sensibilities. Remarkably varied, it touches all the bases with classic oils, ancient pottery and carvings, and stark photography. Modern and ancient rotating exhibits complete the spectrum of offerings, with the current From The Fire display of Korean ceramics turning her head with its vast colors and comprehensive designs.

But Mary's must-visit spot is a "secret" garden, just off the Marly Room that's used for special events. For her, the foliage and sculptures that dot the courtyard area represent total peace.

Round Three
The argument about dinner plans isn't an argument at all. The question just depends on mood.

For traditional fare, prepared and presented at the highest level, Salt Rock Grill in Indian Shores is a treat to revisit. Like plenty of guys, I pat myself on the back a bit for my prowess around the backyard grill. But the steak here reduces me to the rank of amateur – a delicious humiliation I'm only too willing to swallow. Mary generally gravitates to seafood, a choice which, considering the chef and the Grill's proximity to water, is too tempting to ignore.

The other avenue is international. At Tío Pepe in Clearwater, the fawning service (they pledge to "treat you like royalty") and Paella Valenciana prove that Mary and I have no difference of opinion at all. Over the traditional Spanish masterpiece, we gently toast with wine glasses, avoid talking about kids and marvel at the constructive nature of a good, healthy debate.

Source : http://www.visitflorida.com/

Guide to Florida vacation rentals

2007-12-08T16:50:00.000+05:30

Florida has been a top destination for decades, thanks to great winter weather, Disney World, and hundreds of miles of spectacular beaches. Florida vacation rental homes are preferred by families and couples looking to get the most out of their trip, and enjoy a level of comfort not found in hotels and motels.

In central Florida, Orlando Vacation Rentals are preferred by families who make a trip to Disney World a central theme of their travel experience. The city of Kissimmee is located only 12 miles from the Disney theme parks, and features numerous choices for renters including condos, villas, and rental homes in close proximity to Orlando attractions.

On the Panhandle, the towns of Destin, Pensacola, and Panama City are favored for their sparkling beaches, great golf, and sport-rated deep sea fishing. Beach villas, townhouses, and condos are popular among beachcombers and vacationers.

The West Coast, including Naples, Fort Myers, Tampa, and Sarasota, is known for its golf courses, uncrowded beaches, and wildlife. Marco Island vacation rentals are located near undeveloped islands that are home to manatees, shorebirds, and Florida wildlife. Birdwatchers, tennis players, and golfers enjoy the amenities provided by vacation condos and homes situated on private beaches.

Southeast Florida is home to world famous beaches in Miami, Ft. Lauderdale, and Palm Beach. Ft. Lauderdale vacation rental condos and homes are prized by couples on honeymoons and anniversary vacations because of the nearby cruise line terminal. Miami villa rentals can be found in close proximity to beaches and Miami’s famous nightlife offerings.

Northeast Florida features Daytona, Amelia Island, and Jacksonville. Daytona Beach vacation rentals are found along the beach and include luxury resort condos at affordable prices. Every year NASCAR fans from around the world come to Daytona to see one of the top races on the circuit, and condo rentals are an integral part of the trip. The Amelia Island Plantation features beach homes with all the comforts of home. Vacation renters in the Jacksonville area enjoy the laid back feel of North Florida.

The Florida Keys are often referred to as “America’s Caribbean.” From Key Largo in the Upper Keys to Key West in the Lower Keys, vacation rentals in this popular destination are favored among winter visitors to Florida. Marathon, the “heart of the Florida Keys,” is at the midpoint of the Keys island chain and offers numerous opportunities for diving, snorkeling, fishing, and sailing.

Source : http://weneedavacation.com/

The $400K Price Point for 2 Bedroom Condos Has Been Breached

2007-12-07T16:50:00.000+05:30

Only 12 months ago, finding a 2 bedroom in a desirable condo development throughout Brickell and Brickell Key for less than $500,000 seemed like quite a bargain. How times have changed! Nowadays, the new figure seems to be $400,000.

Neo Vertika currently has 11 two bedroom condos that are priced for under $400,000, Isola has 2, Courvoisier Courts has 3, One Miami has 7, Solaris at Brickell has 1, The Club at Brickell Bay (surprisingly only) has 2, The Mark on Brickell has 3 and Vue at Brickell has 11 (with 2 of the 11 two bedroom condos priced for under $300,000).

With the additional inventory, from the soon-to-be completed condo developments, I think the $400,000 price point for 2 bedroom condos in desirable condo buildings throughout Brickell and Brickell Key will become more commonplace in 2008.

Of course, the size and square footage of the condos needs to be taken into consideration. Most of these new condo developments are delivering 2 bedrooms that have 1,145-1,300 square feet. Anything larger will, of course, fetch higher prices. It should go without saying that 2 bedroom units at ultra-luxury condo buildings such as Jade, Four Seasons and Santa Maria are exempt from this discussion.

I’m actually looking forward to the opening of Plaza on Brickell in January. In my opinion, it offers the best value in Brickell. I think within 3-4 months after it opens we’ll see aggressively priced 2 bedroom condos throughout Brickell approach the $350,000 mark.

I was at the Plaza on Brickell sales office last week with out-of-the-country clients and we were both shocked by the prices that were offered. The prices had come down considerably since September, when they last visited the sales center with me. One bedroom units now start at around $210,000 and two bedroom condos start at around $340,000. Investors have become more motivated to sell as their closing date approaches.

A few days after I visited the sales center with my clients they told me that “at these prices we would regret not making an offer”. They are looking to hold for about 10 years. Where else in Brickell can you get such prices, much less in a brand new development? I think Plaza on Brickell will act as the buoy for the Brickell condo market.

This is why many investment groups have their eyes set on Plaza on Brickell. They all want to buy units in bulk at a deep discount to get positive cash flow. However, I don’t think that this will happen at this development. I think prices offered, at the present time, are appealing enough to end-users. They, too, have their eyes on the Miami condo market because it is in their own backyard.

I know from reading your comments lately that you all are very opinionated. So I ask you, where do you think 2 bedroom units will ultimately be priced? More specifically, where do you think the top 10% best priced two bedroom condos in the well known Brickell developments will be priced by the end of 2008?

Southwest Florida Real Estate

2007-12-06T16:50:00.001+05:30

Welcome to Southwest Florida – home to what is best about Florida's Gulf Coast region! Just imagine sun drenched white sand beaches, crystal blue warm waters and soft tropical breezes. That's what awaits you here in Southwest Florida. And, we believe you'll find this beautiful area and its lifestyle choices a wonderful place to live, just like we do.

In this section you'll find the knowledge and resources necessary for exploring the Southwest Florida real estate markets. The best place to start is by learning about the cities in our area and what they offer. Begin your investigation with the southern cities of Bonita Springs, Cape Coral, Ft. Myers, and Naples and then move north to Port Charlotte, Punta Gorda, Sarasota and St. Petersburg. Each city has its own natural beauty and ambiance that is so unique to Florida, yet also offers their own special lifestyle that makes them such a desirable place to call home.

Southwest Florida Coasts

Southwest Florida Real Estate for Sale in Bonita Springs, Cape Coral, Ft. Myers, Naples and the Islands of Captiva and Sanibel

Because there are so many beautiful "coasts" in Southwest Florida; we've managed to name them all! Each region offers its own weather, lifestyle, attractions and ambience – some are employment centers, others are still developing, and yet all include SW Florida's beautiful natural surroundings and waterways that attract all our new residents here in the first place.

The undisputed award winner is Southwest Florida's Lee Island Coast which includes Bonita Springs, Cape Coral, Estero, Ft. Myers, Ft. Myers Beach, Sanibel, Captiva and Pine Islands. Its recognition as the leading coastal area in SW Florida comes from an incomparable dedication to protecting the natural surroundings that make it a dream destination.

Immediately south of the Lee Island Coast is Naples and Marco Island – our Paradise Coast. Naples has long been established as the "Crown Jewel" of SW Florida with its 5th Avenue shopping, artists, world class resorts, mansions, and famous residents.

Southwest Florida Real Estate for Sale in Port Charlotte, Punta Gorda, Sarasota and St. Petersburg

Traveling north from the Lee Island Coast is Port Charlotte, Punta Gorda and the Cape Haze Peninsula which includes Boca Grande, Englewood and Gasparilla Island – this Central Coastal area is being rapidly developed as it is where you can still find affordable Gulf access properties available. Then, just a bit further north, are the Cultural & Sun Coasts which include the larger cities of Bradenton, Sarasota and St. Petersburg. All are employment centers and offer the amenities of a big city located on the water.

Source : http://www.findsouthwestfloridahomes.com/

Miami Beach Real Estate: South Beach Luxury Condo Outlook 2008

2007-12-05T13:29:00.000+05:30

This month I have started to feel that Miami Beach condo sellers are coming to terms with the reality of the “new” market. The impending wave of new condos “across the bridge” will no doubt bring down the market as a whole. Don’t worry, the best properties in the best locations are the LAST to go down and the FIRST to come up!

Three new luxury buildings will be added to the Miami Beach real estate mix: Continuum II, Apogee South Beach and Canyon Ranch Living Miami Beach. It will be interesting to see how many speculators place their units on the market at Continuum II. Since Apogee South Beach has so few units (67), I think that any inventory that comes to market will be quickly absorbed.
So….You Want to Buy a Condo in South Beach?—What to Do

Always be guided by your gut instinct. Never let anyone talk you into something that you don’t feel is quite right. Even in this wobbly market, I would have NO problem buying a unit a Continuum, NONE! Here’s why: Location and supply and demand.

Kevin’s Recommendation
Continuum I. I believe it is actually a steal. Yup, UNDER-PRICED!

Apogee South Beach. This building is very pricey but will no doubt become the most prestigious condominium in ALL of South Florida. To be delivered later this year.

Canyon Ranch Living Miami Beach. One of the only projects along with Setai South Beach that is actually a destination.

One Bal Harbour. Arguably one of the two best locations in all of South Florida.

ICON South Beach. This one is all about timing. There is a lot of inventory on the market and not many condo sales. The owners that need to sell will be in reality VERY SOON.

Miami Beach Real Estate Condo Buying Tips:

* East and Southeast exposures are the most desired. If the condominium is on the bay, then the Southwest exposure would be the preferred exposure.
* Two bedroom units are better than three bedroom units (larger pool of buyers)
* If you can find a luxury condo on the ocean with one bedroom units with eastern exposure, those are rare. Continuum II has some and so does Canyon Ranch Living. They are gold. Developers typically give the larger units the preferred east exposure.
* Never buy a “flow-through” unit without seeing it or taking a tour of others. Some people like them—some people don’t.
* Corner “flow-through” units (three exposures) are rare. Apogee has them and so does Canyon Ranch Living. Great on paper, GREATER in reality.

Source : http://www.southbeachrealestateblog.com/

Resources

2007-12-05T11:22:00.000+05:30

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Condo Vultures saw pricCondo Vultures saw price decline in database

2007-12-03T10:00:00.000+05:30

Condo Vultures LLC said the average asking price for a residence in its database dropped slightly during October.

The average asking price for a home being tracked by Condo Vultures was down by 21 percent, or $185,510, through Oct. 31, the Vultures Database Report showed. In August and September, the average price drop was 20 percent.

"Buyers and sellers are equally confused," said Peter Zalewski, a principal with Condo Vultures, in a news release. "Buyers are witnessing big price drops, yet are uneasy purchasing in a market where the bottom is still unknown. At the same time, sellers want to unload their properties but at no more of a discount than absolutely necessary. Both buyers and sellers are searching for signs of the market's bottom."

The Bal Harbour-based consultancy said it uses the database to better identify areas and condominium towers where sellers are more likely to negotiate.

The database is made up of condominium units, townhomes and single-family homes that have been cut in price by a minimum of 10 percent or $100,000, or have been for sale for at least 100 days. The database tracks properties east of Interstate 95 and/or U.S. 1, from Pinecrest north to West Palm Beach.

Condo units in the database were down an average of 20 percent, or $145,184, and single-family homes and townhomes were off 22 percent, or $278,608, through Oct. 31. In September, condo asking prices were down 19 percent, and home prices were off 21 percent.

Condos account for 70 percent, or 3,112, of the entries. Single-family homes and townhomes make up 1,348, or 30 percent, of the total database.

The total price drop for all properties in the database is more than $931 million. Properties in the database have been on the market for an average of 457 days, up from 449 days through September.

Condo Vultures said the submarkets tracked by the Vultures Database have changed, resulting in a net gain of one additional area. It is now tracking West Palm Beach and Palm Beach. The unincorporated Miami-Dade County submarket has been eliminated from coverage.

"The changes were made to better focus our resources and research," Zalewski said. "The bulk of West Palm Beach's new condo towers are scheduled to become available in the first quarter of 2008. We are taking steps to assist buyers who are in that market looking for data and deals."

The combination of West Palm Beach and Palm Beach accounted for 56 new entries to the database. West Palm Beach has 44 properties that have fallen by 22 percent, or $106,334. Palm Beach has 12 properties that have fallen by an average of 26 percent, or $189,383.

Source : http://southflorida.bizjournals.com/

Heads in Beds Beyond South Florida

2007-11-28T09:20:00.000+05:30

South Florida hotel industry analysts are predicting anything from modest to flat growth in the local market during the next couple of years, but at least one Miami-based hotel division expects significant gains in its 2008 and 2009 operations.

InterContinental Hotels Group (IHG) Latin America’s nearest hotel is roughly 1,000 miles south of its Miami corporate headquarters, but “we attribute a lot of our success to the fact that we are in Miami,” says Alvaro Diago, area president for IHG Latin America. “Many of the suppliers who deal in the goods and equipment the hotels need are here. Many of the developers who build the hotels in Latin America are here. Many of the multinational corporations who want to do business in Latin America have regional offices here. And most of the investors in the business — the wealthy Latin American families who have been hotel owners there for generations now — come to Miami on a regular basis.”

The division handles Latin America hotel franchising and management for United Kingdom-based InterContinental Hotels Group PLC — the world’s largest hotel company by sheer room numbers, with nearly 564,000 rooms. “Miami is more or less the place to be if you want to be a key player in the hotel business in Latin America,” Diago says.

IHG, with brands that include InterContinental, Crowne Plaza, Holiday Inn, Holiday Inn Express and Staybridge Suites, has more hotels in Latin America than any other hotel company — 60 in 18 nations — and is acquiring more. This summer a whirlwind of openings included the company’s fourth hotel in Colombia — a 19-story Holiday Inn Express Hotel & Suites in Medellin. IHG also opened a 112-room Holiday Inn Santiago Airport in Chile, the nation’s first.

Diago is positioning the company to take advantage of booming economies in some parts of Latin America, including Brazil, where IHG has signed agreements with investors to build new hotels in four cities. “Brazil is an extremely important region for IHG, since it is the sixth most-populated country in the world,” Diago says. “Brazil’s continuous economic growth fuels its massive business and tourism industries, which provides tremendous room for growth for all our brands.”

Travelers in Latin America are increasingly brand conscious. Independent Miami hospitality industry analyst Scott W. Brush, of Miami-based Brush & Company, says international hotel franchising and operating companies like IHG Latin America are in a particularly good position these days — providing they have the strong brand identity to back it up. “It’s not something you can build overnight,” Brush says. “But if you have the strong brand and you maintain your quality standards, your brand becomes very valuable. Investors feel they can make money building hotels that carry your name.”

IHG has a strong brand history in Latin America. The InterContinental chain got its start in that region, when a nascent Pan American Airways opened a chain of hotels to support its air routes. In pre-Castro days, the InterContinental Havana was one of the most profitable and best-known hotels in the chain, building a brand that would endure for generations. “Our brand is the most important thing we have to offer,” Diago says. “That’s what we are all about.”

Throughout the region, Diago is aggressively growing the hotel network, including existing properties: By the end of this year, some 22 of the 61 IHG hotels in Latin America will have completed a two-year program involving $95 million worth of improvements and upgrades.

IHG has benefitted from hotel owners who are increasingly willing to make those expenditures, with the region’s booming economy spurring demand for high-quality hotels and giving the wealthy more money to invest. That is also helping IHG boost its total number of hotels in the region. “Latin Americans tend to be bricks-and-mortar people in terms of where they want to put their money,” Diago says, explaining that, with institutions and even governments occasionally unstable there, investors tend to prefer real estate such as office buildings and hotels.

A rise in internal leisure tourism within Latin America is also helping IHG grow. Diago says the tightened restrictions for entering the United States in the wake of the terrorist attacks of Sept. 11, 2001 mean affluent Latin American families who might have gone to Disney World for their annual vacation are now more likely to visit other destinations within Latin America. And more Latin Americans are travelling for pleasure, too, says Carlos Baruki, IHG Latin America’s senior vice president for marketing. “Worldwide, the projections are for a 5 percent growth in travel in 2008,” he points out. “But Brazil is looking at 9 percent and Central America is looking at 8 percent.”

Source : http://www.southfloridaceo.com/