Downtown Miami

Skyline lights buck odds With dozens of high-rise condos in trouble and an urban core that isn't too active after dark, some analysts expected Downtown Miami to look like a ghost town after sunset once the housing bubble burst. About 80 buildings comprised of 23,000 units have come online since 2003, so those predictions seemed reasonable after the 2006 peak. But a new study from Goodkin Consulting/Focus Real Estate Advisors says otherwise. The majority of the residential units completed in Downtown Miami since 2003 are occupied and the closing rate is accelerating despite obstacles to financing. There's still a long way out of the bottom, but the process is moving. "Our research indicates that 62 percent of units in new Downtown Miami buildings are occupied by a combination of owners and renters, defying the perception that the majority of high-rises built in recent years are empty," said Lew Goodkin, founder of Goodkin Consulting. By Jennifer LeClaire

J & J

Back from LA. Met with Growthink - in person. Working on pricing, revenue streams. SoCal trip was well timed. Spent last two days in Miami, at a very infomative REO seminar.

Florida home, condo sales up in May

Looking up: existing single-family homes sales, condo sales and for the first time in months, the median sales price. Read more.

South Florida market looking better

MIAMI – June 16, 2009 – South Florida home prices have hit bottom, but threats to the housing market still loom as foreclosures rise, mortgage rates creep up and inventories remain high.That’s according to a prominent economist and several top real estate brokers who spoke here Thursday during the International Real Estate Congress hosted by the Realtor Association of Greater Miami and the Beaches.“We’re certainly near the bottom if not at the bottom,” said Lawrence Yun, chief economist for the National Association of Realtors.

Read more.

International buyers believe in Fla.

According to Gerson Lehman Group, international buyers believe the Florida housing market is poised for recovery. Read more.

Homebuyers Search Online

Market listings online and do it right
Over 80% of homebuyers search online, and for most of them, the photos you use can make or break the sale. Read more.

Making a dent

Latest foreclosure program may be working. The new version of the federal Making Homes Affordable program has helped more than 120,000 in just three months. Read more.

Marking them down

Home asking prices are reduced an average 10.6% nationwide. Miami (15%) and Jacksonville (12%) were tops in Florida. Read more

Average listing prices reductions in top cities:

1. Detroit: 23 percent
2. Las Vegas: 16 percent
3. Miami: 15 percent
4. Los Angeles: 12.1 percent
5. New York: 13 percent
6. Phoenix: 13 percent
7. Mesa, Ariz.: 13 percent
8. Jacksonville, Fla.: 12 percent
9. Long Beach, Calif.: 12 percent
10. San Francisco: 11 percent
11. Oakland, Calif.: 11 percent
12. Atlanta: 11 percent
13. Sacramento, Calif.: 11 percent
14. Cleveland: 11 percent

Give Back - Give Shelter

Los Angeles Homeless Services Coalition http://www.lahsc.org/

Camillus House, Miami FL http://www.cammillushouse.org/

NYC, The Doe Fund http://www.doe.org/

Did you know?

There is 1 new foreclosure every 13 seconds. As of this week, 1 million new foreclosures have been filed in 2009, according to a nonprofit research group. Read more

Growthink, LA

1pm e.s.t - cc

Rock Bottom Property-
Diving deeper. Differentiating. Where do we fit in. Full circle. The agent perspective.

Florida #1 Foreclosures

11% of Florida homes in foreclosure process
Florida ranks first nationally for homes in foreclosure and is the only state in double digits. The national rate is 9.12 percent. Read more.

Our website for Rock Bottom Miami will be up very shortly. We will start by focusing on showcasing distressed luxury properties in Miami and move into all of South Florida.

Other future target cities include:

L.A.
Las Vegas
Phoenix
NYC