There has been a rise in new home construction in the waterfront community of Golden Isles in Hallandale Florida. All the homes pictured below are currently under construction and are being built by end users, only one is a “Spec” home.  All of these homes are nearly complete.  There are also 3 new vacant land purchases that will soon also have new homes built.

Golden Isles itself has been going through a makeover including new bridges, new guard house and new water lines.  These new homes will further improve the aesthetic appeal of the community and continue to establish Golden Isles as a very desirable deep waterfront community in South Florida. For more information on Golden Isles and/or properties for sale contact me at 954.661.8871.

A picture is worth a thousand words, in this case it’s an 8 year snapshot of the Broward County real estate market….the peak of the market was March 2005 when we had the lowest supply of inventory of single family homes in Broward County including the cities of: Fort Lauderdale, Davie, Plantation,Weston, Hollywood and Hallandale Beach.  It was a extreme Seller’s market, inventory steadily increased and peaked in April of 2008 and has since been declining and we now have the lowest amount of inventory we have seen in sometime.  It’s now challenging to find “Good Inventory”and it’s all about “Supply & Demand”, especially in the key communities and developments like: Las Olas, Rio Vista, Harbor Beach, Weston, Windmill Ranches, Hollywood Lakes, Harbor Islands and Golden Isles.

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The Porto Vita Community located in the heart of Aventura is composed of luxury condos (South and North Tower) and townhomes.  Porto Vita is a gated community offering the pinnacle in lavishness and sophistication with amenities such as spa, swimming, tennis courts, fitness center, concierge service, resident club and 21-slip marina.

My new listing pictured above is located at 3750 NE 1999 Terrace.  Below are some appointments.

Appointments:

• Three Stories
• Elevator
• 4 Bedrooms, 4.5 Baths
• 4,033 + sq.ft.
• 60′ deeded dock
• pool
• 2 car garage

Offered at: $1,950,000

For additional information about this listing visit my website at Porto Vita Waterfront Townhome

1136 N. Northlake Drive

This is one of my newest listings in Hollywood Lakes on Northlake.  This Mid-Modern home is impeccable and was built in 2008 with the finest of finishes and attention to detail.  The home is located on a point corner lot with 164 feet of waterfrontage.  The views are one of the best in the Lakes and one of very few Mid-Modern homes in the area.

Home Details:

• 6 Bedrooms, 6.5 Baths
• Two-story
• Built in 2008
• 2 car garage

For Additional information about this listing or other listings visit my South Florida Real Estate Website.

You are invited to get an intimate look at the New Mediterranean custom built single-family homes in Island Estates, a private island community in Aventura.

Below is a list of the 4 price reductions in Hollywood Lakes in the past 30 days listed over $500,000.

Northlake and Southlake

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There were 2 closed sales this week on the same day in Harbor Islands.  The first was my listing located in Grand Harbor Estates 1490 Windjammer Way that closed for $1,370,000.  The other was 1016 Sanibel Drive in Harborside for $1,750,000.  Sales are picking up in Harbor Islands, year to date there have been 23 closed sales and there are currently 3 pending sales and 2 more about to go pending.  Harbor Islands appeals to a broad range of Buyers as price points range from the high 400’s to 5MM.  There are approx. 480 homes in the Harbor Islands Community and there are currently a total of 37 homes on the market.

1490 Windjammer Way

Dry Lot, 5 Bedrooms, 5.5 Baths, 4,674 sq.ft. under air.  Sold $1,370,000 (10/15/2009)

1016 Sanibel Drive

Waterfront, 5 Bedrooms, 4.5 Baths, 7,269 sq.ft. under air. Sold $1,750,000 (10/15/2009)

For those of you who might be unfamiliar with Harbor Islands, it is a 192-acre private gated waterfront community in Hollywood Florida composed of eight sub-communities.  You can select a home to fit your own personal budget with prices ranging from $450,000 up to $5,000,000.  Amenities in the community include a deep water Marina with 196 boat slips that can accommodate boats from 20-120 feet, Joe DiMaggio Park, Tennis and Fitness Center/Spa.  One of the unique things about  Harbor Islands is that it’s one of the only waterfront gated communities with private streets east of I-95 & US1.

New Listing Featured below is located in “Harbor Pointe” , the newest community in Harbor Islands located next to the Marina with Intracoastal Waterfront Homes as well as Non-Waterfront homes.

1320 Hatteras Court

Quick Facts:
5 Bedrooms
6.5 Baths
Living Area Sq.ft.: 4,950
3 car garage

List Price: $1,550,000

There are currently 5 Active properties in Harbor Pointe, the featured listing above (non-waterfront) and 4 others on the Intracoastal waterfront.  See all the Active Listings in Harbor Pointe.  There has been 1 closed sale this year in Harbor Pointe and it was a Bank Owned Foreclosure that sold 2 days ago on September 14, 2009 for $3,200,000 it was a 6BR, 9.5BA 8,519 sq.ft. waterfront home which included the only 100 foot deeded dock at the marina, all the rest of the docks at the marina are only available for lease.

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The Point of Aventura is a waterfront community comprised of five towers and courtyard homes located in the heart of Aventura Florida along the Intracoastal waterway. Amenities include Intracoastal pool, Club and Spa (cardio and weight room), tennis courts, childrens playground, game room,  restaurant and salon.  Each tower has unique views to offer of the  Atlantic Ocean, Intracoastal and City.

Highest and Lowest sale per/sq.ft. in the Past 6 Months
- Highest: Atlantic II Unit #2401 sold for $322 sq.ft. on 8-14-2009 for $850,000 (see unit)

- Lowest: Atlantic I Unit #704 sold for $197 sq.ft. on 5-26-2009 for $625,000 (see unit)

See all closed sales in the past 6 months

A really great tool for determining the list price for a property is to find out what the current Absorption Rate and Months Supply of Inventory is at the time.  It is beneficial in assisting  Sellers and Buyers to better understand the market and forecast trends.  Absorption rate is the time it takes to sell the current inventory at the present rate of sales, currently the absorption rate for The Point Condos is 3.92 p/month, therefore on average 4 listings are selling every month.

When it comes to Months Supply of Inventory a  supply of 6 to 9 months is optimum and anything over 9 months is generally considered a Buyer’s Market.  Currently there is 13 months supply of inventory at the Point.

For information on active listings or additional information please contact me anytime.

Hampton’s South is one of Aventura’s Luxury condo buildings.  It was built in 2004 and is located along the Intracoastal Waterway overlooking Golden Beach and the Atlantic Ocean.  Some of the developments amenities include: Intracoastal pool, tennis court pavilion, fitness center, private elevator to each unit and valet service.  Hamptons South is located across from the exclusive Fairmont Turnberry Isle Resort & Club, Golf Course, jogging trail and minutes to the Shops of Aventura Mall.

Currently there are 21 Active Listings, below is the Average Price Per Square Foot for Active Listings based on the bedroom count.

What are you in the Market for?

If you are in the market for a 2 Bedroom: Average Price/Sq.Ft. = $150.00
If you are in the market for a 3 Bedroom: Average Price/Sq.Ft. = $379.00
If you are in the market for a 4 Bedroom: Average Price/Sq.Ft. = $375.00

Check out the newest listing in Hamptons South

Quick Facts:
Unit# 2409
3 Bedrooms plus den/media room
3.5 Baths
Over 3,260 sq.ft.
Unobstructed Intracoastal, ocean and golf course views
Highly upgraded

View all 21 Active Listings in Hamptons South