Best Cities For A Housing Recovery

Miami makes the list...

Forbes article - http://tinyurl.com/mlzal7

Foreclosure guilt haunts homebuyers

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=222455

Bulk buyers want Fla's overbuilt condos

Bulk buyers want Fla.'s overbuilt condos. Miami is considered ground zero for distressed condo buys with more unsold units than anywhere else in the country.
http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=222380

With home sales up, tax credit evaluated

With home sales up, tax credit evaluated The Real Deal New York Real Estate News: "New home sales rose 9.6 percent last month, with 433,000 sold in July and 395,000 sold in June, CNBC's Diana Olick reported. This kind of data is encouraging, according to Olick, who says that both those figures show significant growth. 'For two months running ... we're seeing big jumps up in new home sales,' Olick said, adding that, despite the encouraging news, the influence of the first-time homebuyer's tax credit should be kept in mind. 'Is it all based on that first-time homebuyer's tax credit or can it sustain past that? That's the big question we're going to see in the months going forward.'"

J & J in MIA

Kickoff with Growthink on private placement memorandum. Excellent meetings with Maria from 3 eye group, our web design team. Excited to get the beta site up in Miami, very shortly.
Joe will return to LA tomorrow and dive deeper into the numbers. Still accessing the development of a real estate team here in Miami to handle leads and listings.

Downtown condo files Chapter 11

Everglades on the Bay, one of Miami’s most notable downtown condominium projects, filed for bankruptcy protection. A petition from Cabi Downtown LLC Developers said the tower had $100 million to $500 million in liabilities. The financially troubled project had its $256 construction loan come due February 18, after an extension from November 2008. Bank of America was the lender, but court records do not show how much it is owed. Gryphon Construction of Fort Lauderdale was listed as having the largest unsecured claim, at $912,272. Miami-based law firm Siegfried, River, Lerner De La Torre & Sobel claimed $395,456, and Holly Sime Realty of Miami seeks $193,750. [SFBJ]

Fla. taks force urges foreclosure mediation

A judicial court's final report calls for form changes, an Internet clearinghouse and mandatory mediation with lenders. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=221775

U.S. foreclosures rose 7% in July from June

In Fla., foreclosure filings were up 6.78% compared to June, and 23.11% over July 2008. But the state improved some. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=221489

Foreclosure Filings Jump in July

Foreclosure Filings Jump in July - washingtonpost.com: "Foreclosure Filings Jump in July"

Home Buyers gain an edge with Internet searches

Most spend an average of 16 weeks browsing websites before contacting a real estate professional to get serious. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=221104

Top Real Estate Websites

based on online traffic:

1. Realtor.com
2. Zillow.com
3. Yahoo Real Estate
4. ZipRealty
5. Rent.com
6. ServiceMagic.com
7. Trulia

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=221059

Has the market hit bottom?

By every measure except foreclosures, the housing market has stabilized and is now starting to recover. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=220855