Florida is a vacationer's paradise with its ample sunshine, miles of beaches, and abundance of attractions that can satisfy the appetite of every age group. No matter which Florida destination you have in mind for your next trip, you can soak in all the beauty and have easy access to all the best activities and amusements when you stay in a vacation rental that is right for you.
With its miles of coastline along the Gulf of Mexico and Atlantic Ocean, it is quite possible that you will be staying along the shores in a bustling and exciting city. Whether you choose the Emerald Coast in a city like Destin or the Atlantic Ocean in stunning West Palm Beach, you can find a home or condo rental that sits directly on the water and has some of the most breathtaking views imaginable. Relaxation awaits when you step onto your private deck or balcony and listen to the sound of the waves crashing ashore and slowly forget all the stress you have left behind.
Views of the water are one thing, but having the soft sand directly behind your accommodations is more convenient than you ever imagined. Heading out for a day at the beach is no longer filled with everyone rushing around, throwing stuff into a giant beach bag and then lugging the monstrosity towards the water as the kids run around you. All you need to do is step out the back door and therein lies the sand, waiting for you to sun on its soft body and build sandcastles near the shore. You can make as many trips as you need back into the house, meaning you no longer need to pack for an entire day and you won't miss out on any of the fun since your supplies are a shore stroll away.
As the most popular destination in Florida, you can find numerous home and condo rentals in the Orlando/Disney area. Enjoy the best in family accommodations in a spacious home filled to the brim with amenities such as a private pool and plenty of beach towels while staying only minutes from the Disney World theme parks. You can come home and relax under the dwindling Florida sun after a long day of enjoying rides and attractions while the kids burn off the last of their energy by swimming and jumping in and out of the pool.
If you are looking for a private retreat where you can escape to surroundings unlike any other, the Florida Keys have you covered. Enjoy a Key Largo vacation rental that is covered with towering trees and radiant flowers as you listen to the sweet song of the birds overhead and soak in the sweet smell of the nearby flora. This is a secret tropical haven for anyone who wants to get back to nature without missing out on any of the Keys fun since a private dock sits in the backyard, begging you to come forward and experience some of the best onshore fishing available.
For those visiting a Florida destination such as Miami Beach for the cultural allure, you can choose to stay slightly off the beaten path by opting for a rental that is not in the touristy parts but rather integrates you into the lively, cultural atmosphere. With rentals available in a variety of neighborhoods, you are sure to find one that makes it easy to enjoy the sights and sounds you are drawn to. Forget about being forced to stay in a hotel that is situated in an area that does not interest you since you can choose accommodations that allow you to experience the community in a manner tailored to your needs.
Florida vacation rentals are located throughout the Sunshine State so you can enjoy all the comforts and conveniences of home no matter which area draws you in with its attractions and amusements. Whether you will be spending the majority of your vacation on the beach or in the city, there is a centrally located vacation home or condo rental that will make it easy to experience everything you want to see and do. Begin your search for the perfect rental today and dive into a more exciting and relaxing Florida adventure than you could have ever imagined.
source:http://www.articlesbase.com/destinations-articles/florida-vacation-rentals-58553.html
Monday, July 14, 2008
Friday, April 4, 2008
Looking for a Florida Waterfront Home?
When you’re looking for a waterfront home, what is it that you’re really looking for?
Some people, it seems, are looking for bragging rights. When they buy a waterfront home, it’s all about inviting family and friends over, about hosting dinner parties and encouraging their guests to check out the yard - including the dune walkover to the beach.
Others are looking for relaxation when they seek out a
Still others are looking for a great family home, a place where they will be able to learn about one another, a chance to spend time talking, laughing and enjoying quality family time.
So, which is it for you? Are you looking for a waterfront home that will give you a place with the kids, a spot to relax, bragging rights or a combination of all three?
Resource: www.seasideviews.com
Wednesday, March 5, 2008
Florida Keys House Boat Rentalsict
Houseboat vacations are best enjoyed with the family. Vacationing is simply the best way to relax and get together in a paradise such as the
Houseboats are an excellent choice for those who love the outdoors like campers and boaters. They are like RVs able to float on water, and what is nice about them is that you can decide where you want to secure your boat. You can have a barbeque every day, or if you prefer to go and out to a restaurant, smaller boats are available for easy access to other local dining places.
In the Keys, on a houseboat you can enjoy fishing, swimming and diving from the deck. If you don’t feel like exploring, well you can just relax, sit back, and enjoy the
Experienced instructors will assist and guide you before you set out on the waters. They will teach you the basic in operating your boat like how to start and stop, how to steer and also when and how to anchor. By the time they are finish, you will feel confident and assured that you are will be able to set out on your own without any hassle.
Maps as well as marked buoys are also handed out. So you can easily chart your way. You will also find boat safety gear mandated by the U.S. Coast Guard in every boat.
There is no other vacation place that will provide you with a greater experience. You will see nature in a whole new light. You will be able to see wild life supplying aquatic vegetation, or a dolphin slowly swimming through the clear waters of the
House Boat Rentals provides detailed information on House Boat Rentals, Lake Powell House Boat Rentals, Lake Cumberland House Boat Rentals, Florida Keys House Boat Rentals and more. House Boat Rentals is affiliated with Hilton Head Condo Rentals.
resource:ezine articles.comSaturday, February 9, 2008
New heights of luxury in Century City
A garden-ringed condo tower is proposed for one of the Westside's most coveted parcels.
Plans for a 45-story, wisp-thin tower of ultra-luxury condominiums between Beverly Hills High School and the Los Angeles Country Club are set to be unveiled today. Developers say it would be one of the most expensive residential buildings in the West.
The $400-million tower along one of the area's toniest corridors would be the first building in California designed by renowned Paris architect Jean Nouvel, known for his daring designs. He is proposing a narrow glass structure with sweeping views through the building and extensive greenery ringing each floor.
The developer predicts the project will attract European and Asian globe-trotters as well as local empty-nesters ready to move from sprawling Westside mansions to roomy condominiums complete with concierge services, a private club, first-run movie screenings and valet parking.
Even at a time of economic uncertainty -- when Southern California employers are trimming payrolls, stock prices are falling and home values are dropping -- the demand for luxury housing continues nearly unabated in the Westside. And with it has come more traffic and growing homeowner resentment about construction and congestion.
Prices have not been set for the proposed condos at 10000 Santa Monica Blvd. But units in the ultra-luxury Century tower being built in nearby Century City are being offered at a range of $3.2 million to $30 million, and the Nouvel condos are expected to be even more pricey.
Two top-drawer projects are also being planned around the intersection of Santa Monica and Wilshire boulevards in Beverly Hills. Last year, British developers paid $500 million for the former Robinson-May department store at the site, where a 252-unit condo and retail complex designed by prominent architect Richard Meier has been proposed.
"How much high-end product can the market bear in such a close proximity?" asked real estate broker Gary Weiss of Madison Partners, who called the planned Nouvel building "extraordinarily ambitious."
Nouvel's developer, SunCal Cos., said it was undeterred by slumping home sales in Southern California and hoped to break ground in 2009. The company said it expected to start seeking formal city approvals next week.
"What we are really doing is addressing an underserved component of the market," said Frank Faye, chief operating officer of SunCal. "We are confident we would be able to sell these units today and we will be able to sell them quite rapidly once they're made available."
Considered one of the most desirable locations for development in the country, the vacant lot was the object of a high-profile bidding war in 2006 when Irvine home builder SunCal finally topped New York developer Donald Trump with a $110.2-million offer for just 2.4 acres.
Ever since, the site has been eyed with curiosity and suspicion in an area where homeowners have already expressed alarm about the rapid pace of development. "The truth is that people are happy in their neighborhood and they don't want to see it change," said Kevin Hughes, president of the Cheviot Hills Homeowners' Assn.
Plans call for 177 units, with two to six condominiums per floor. Elevators would serve every condo directly so there would be no corridors between units. "Each residence is designed as a home in the sky surrounded by an abundance of plants and flowers but with no visual limits to the spectacular views of the city, mountains and ocean," Nouvel said.
In Los Angeles, "we have to build buildings especially for this climate," he said. "From the boulevard, it will look like a vertical garden."
City Councilman Jack Weiss, who represents Century City, said he supported Nouvel's concept. "We have never had someone of this caliber designing something residential on the Westside," he said.
"My public-policy goal has been to make Century City a world-class residential destination," Weiss said. "That creates benefits because people can live near where they work and traffic is generated at off-peak hours."
But some neighborhood residents are skeptical about how beneficial ultra-luxury housing would be.
"To make Century City truly livable you need housing for people who work there who aren't presidents of their companies," said Barbara Broide, president of the Westwood South of Santa Monica Boulevard Homeowners Assn. "That's what we need to take car trips off the street."
The mayor of Beverly Hills echoes Broide's concern about how the building might add to congestion. "It will not be easy to digest for Beverly Hills people who are already getting a lot of traffic that is not Beverly Hills traffic."
Faye, the developer, however, said that the residential tower would generate less traffic than the office building that used to occupy the site. The previous owner demolished the building that once housed several tenants, including Jimmy's restaurant.
Faye also said he thought the Nouvel building would be set apart from rivals both in price and amenities.
But competition lurks with many other pricey units coming to market.
Westfield, the owner of Century City's shopping center, plans to build 262 upscale condos or apartments to complement its recent $170-million makeover of the mall.
And Century City landlord JMB Realty Corp. plans to build 483 units on Constellation Boulevard.
Owners of the Beverly Hilton Hotel also plan to add upmarket condos as part of a major upgrade and expansion on the property. Other high-end condos overlooking the Los Angeles Country Club and at the Montage Hotel in Beverly Hills are being built.
The Nouvel design of SunCal's planned tower is intentionally ambitious, Faye said. "This is an exciting opportunity," he said. "The worst thing we could do is under-deliver."
Source : http://www.latimes.com/
Plans for a 45-story, wisp-thin tower of ultra-luxury condominiums between Beverly Hills High School and the Los Angeles Country Club are set to be unveiled today. Developers say it would be one of the most expensive residential buildings in the West.
The $400-million tower along one of the area's toniest corridors would be the first building in California designed by renowned Paris architect Jean Nouvel, known for his daring designs. He is proposing a narrow glass structure with sweeping views through the building and extensive greenery ringing each floor.
The developer predicts the project will attract European and Asian globe-trotters as well as local empty-nesters ready to move from sprawling Westside mansions to roomy condominiums complete with concierge services, a private club, first-run movie screenings and valet parking.
Even at a time of economic uncertainty -- when Southern California employers are trimming payrolls, stock prices are falling and home values are dropping -- the demand for luxury housing continues nearly unabated in the Westside. And with it has come more traffic and growing homeowner resentment about construction and congestion.
Prices have not been set for the proposed condos at 10000 Santa Monica Blvd. But units in the ultra-luxury Century tower being built in nearby Century City are being offered at a range of $3.2 million to $30 million, and the Nouvel condos are expected to be even more pricey.
Two top-drawer projects are also being planned around the intersection of Santa Monica and Wilshire boulevards in Beverly Hills. Last year, British developers paid $500 million for the former Robinson-May department store at the site, where a 252-unit condo and retail complex designed by prominent architect Richard Meier has been proposed.
"How much high-end product can the market bear in such a close proximity?" asked real estate broker Gary Weiss of Madison Partners, who called the planned Nouvel building "extraordinarily ambitious."
Nouvel's developer, SunCal Cos., said it was undeterred by slumping home sales in Southern California and hoped to break ground in 2009. The company said it expected to start seeking formal city approvals next week.
"What we are really doing is addressing an underserved component of the market," said Frank Faye, chief operating officer of SunCal. "We are confident we would be able to sell these units today and we will be able to sell them quite rapidly once they're made available."
Considered one of the most desirable locations for development in the country, the vacant lot was the object of a high-profile bidding war in 2006 when Irvine home builder SunCal finally topped New York developer Donald Trump with a $110.2-million offer for just 2.4 acres.
Ever since, the site has been eyed with curiosity and suspicion in an area where homeowners have already expressed alarm about the rapid pace of development. "The truth is that people are happy in their neighborhood and they don't want to see it change," said Kevin Hughes, president of the Cheviot Hills Homeowners' Assn.
Plans call for 177 units, with two to six condominiums per floor. Elevators would serve every condo directly so there would be no corridors between units. "Each residence is designed as a home in the sky surrounded by an abundance of plants and flowers but with no visual limits to the spectacular views of the city, mountains and ocean," Nouvel said.
In Los Angeles, "we have to build buildings especially for this climate," he said. "From the boulevard, it will look like a vertical garden."
City Councilman Jack Weiss, who represents Century City, said he supported Nouvel's concept. "We have never had someone of this caliber designing something residential on the Westside," he said.
"My public-policy goal has been to make Century City a world-class residential destination," Weiss said. "That creates benefits because people can live near where they work and traffic is generated at off-peak hours."
But some neighborhood residents are skeptical about how beneficial ultra-luxury housing would be.
"To make Century City truly livable you need housing for people who work there who aren't presidents of their companies," said Barbara Broide, president of the Westwood South of Santa Monica Boulevard Homeowners Assn. "That's what we need to take car trips off the street."
The mayor of Beverly Hills echoes Broide's concern about how the building might add to congestion. "It will not be easy to digest for Beverly Hills people who are already getting a lot of traffic that is not Beverly Hills traffic."
Faye, the developer, however, said that the residential tower would generate less traffic than the office building that used to occupy the site. The previous owner demolished the building that once housed several tenants, including Jimmy's restaurant.
Faye also said he thought the Nouvel building would be set apart from rivals both in price and amenities.
But competition lurks with many other pricey units coming to market.
Westfield, the owner of Century City's shopping center, plans to build 262 upscale condos or apartments to complement its recent $170-million makeover of the mall.
And Century City landlord JMB Realty Corp. plans to build 483 units on Constellation Boulevard.
Owners of the Beverly Hilton Hotel also plan to add upmarket condos as part of a major upgrade and expansion on the property. Other high-end condos overlooking the Los Angeles Country Club and at the Montage Hotel in Beverly Hills are being built.
The Nouvel design of SunCal's planned tower is intentionally ambitious, Faye said. "This is an exciting opportunity," he said. "The worst thing we could do is under-deliver."
Source : http://www.latimes.com/
Wednesday, February 6, 2008
Condos eyed for Brentwood Bay Lodge
Brentwood Bay Lodge wants to add six condominiums to its luxury hotel, following a trend that is becoming the norm in new hotels.
The plan to build the six units goes to public hearing at Central Saanich council chambers on Wednesday.
Owner Dan Behune sees it as a way to have larger units available at the five-star hotel, and provide buyers with a chance at a waterfront vacation home.
"It's a win-win situation for people looking for vacation properties and the hotel, so we can have larger, more luxurious units," Behune said.
The development would need a rezoning to change the property at 7164 Brentwood Dr. to a special new hotel/residential zone on the 1,250-square-metre lot with its 23 metres of waterfront.
Behune and architect Ron Lea envision a three-storey, six-unit residential villa, next door to the Brentwood Bay Lodge but separate from it. It would have two units on each floor of about 1,825 square feet each, with two bedrooms and a den.
The architectural style, colours, materials and finishes would match those on the lodge, including resawn cedar and heavy fir beams.
The public boardwalk along the foreshore by the lodge would also extend in front of the new building.
Behune also wants to extend the existing dock to create four larger boat slips to accommodate larger yachts coming into the inlet.
Strata hotel units allow the owners to use the property when they want, and to put it into the general hotel pool for rental when they're not there.
"We see people buying these units as being from Alberta or Ontario, looking at this as their second or third home," Behune said.
Prices of the units haven't been determined yet, he said, although they would be west-facing waterfront, which isn't likely to be inexpensive.
Studies show that people tend to use their vacation homes an average of eight weeks a year. It makes good sense to buy a place that can provide some income by being in a hotel pool, Behune said. And when owners are there, they have access to all the hotel amenities and services.
Kevin Walker, owner of the Oak Bay Beach Hotel site, said construction costs are so high for full-service hotels that more and more are moving toward a mixed model of hotel rooms, residential or strata hotel units.
Plans for the Oak Bay Beach Hotel include 20 strata units, three of which have been sold, Walker said
Construction work on the Beach Drive site has not started yet.
Walker said he'll have an announcement Feb. 12 on the "go-forward plan" for the development.
Asked about speculation that he has partnered up with a major hotelier, Walker said, "I can't comment on that now, but there will be clarity on Feb. 12."
Source : http://www.canada.com/
The plan to build the six units goes to public hearing at Central Saanich council chambers on Wednesday.
Owner Dan Behune sees it as a way to have larger units available at the five-star hotel, and provide buyers with a chance at a waterfront vacation home.
"It's a win-win situation for people looking for vacation properties and the hotel, so we can have larger, more luxurious units," Behune said.
The development would need a rezoning to change the property at 7164 Brentwood Dr. to a special new hotel/residential zone on the 1,250-square-metre lot with its 23 metres of waterfront.
Behune and architect Ron Lea envision a three-storey, six-unit residential villa, next door to the Brentwood Bay Lodge but separate from it. It would have two units on each floor of about 1,825 square feet each, with two bedrooms and a den.
The architectural style, colours, materials and finishes would match those on the lodge, including resawn cedar and heavy fir beams.
The public boardwalk along the foreshore by the lodge would also extend in front of the new building.
Behune also wants to extend the existing dock to create four larger boat slips to accommodate larger yachts coming into the inlet.
Strata hotel units allow the owners to use the property when they want, and to put it into the general hotel pool for rental when they're not there.
"We see people buying these units as being from Alberta or Ontario, looking at this as their second or third home," Behune said.
Prices of the units haven't been determined yet, he said, although they would be west-facing waterfront, which isn't likely to be inexpensive.
Studies show that people tend to use their vacation homes an average of eight weeks a year. It makes good sense to buy a place that can provide some income by being in a hotel pool, Behune said. And when owners are there, they have access to all the hotel amenities and services.
Kevin Walker, owner of the Oak Bay Beach Hotel site, said construction costs are so high for full-service hotels that more and more are moving toward a mixed model of hotel rooms, residential or strata hotel units.
Plans for the Oak Bay Beach Hotel include 20 strata units, three of which have been sold, Walker said
Construction work on the Beach Drive site has not started yet.
Walker said he'll have an announcement Feb. 12 on the "go-forward plan" for the development.
Asked about speculation that he has partnered up with a major hotelier, Walker said, "I can't comment on that now, but there will be clarity on Feb. 12."
Source : http://www.canada.com/
Fire at a Clearwater condo
One firefighter suffered minor injuries during a fire at the Imperial Cove Condos on Monday morning.
Investigators say the call came in at about 8:15 a.m. Upon arrival, firefighters found heavy flames coming from a condo unit, but they were able to bring it under control within 15 minutes.
Two neighboring units also sustained smoke and water damage. A firefighter was transported to the hospital for minor injuries.
Monday, January 28, 2008
A lesson in reading the fine print
A contract error may keep condo buyers from moving into the Water's Edge. The condo towers are one of the Bay Area's most luxurious projects. Owners are in line for a full refund.
Federal law requires HUD to be provided with a property report detailing the project. Lawyers for the project felt that the language in the original contract did not have enough clarity. 109 of the 153 units have been sold since going on sale in 2005. Owners can still move in approximately eight months from now at a discount or get paid to walk away.
The error came as a shock to city officials who were hoping that the project would help revitalize downtown Clearwater.
There are three condo projects set to open in downtown Clearwater in 2008 and 2009.
"Surprise obviously that the law firm had made a mistake on the contract and then obviously some dismay but um... the more that I've thought about it and talked to other individuals I think that maybe we'll squeeze out some of the speculators and hopefully get permanent residents faster than we normally would," said Frank Hibbard the mayor of Clearwater.
Source : http://www.tampabays10.com/
Federal law requires HUD to be provided with a property report detailing the project. Lawyers for the project felt that the language in the original contract did not have enough clarity. 109 of the 153 units have been sold since going on sale in 2005. Owners can still move in approximately eight months from now at a discount or get paid to walk away.
The error came as a shock to city officials who were hoping that the project would help revitalize downtown Clearwater.
There are three condo projects set to open in downtown Clearwater in 2008 and 2009.
"Surprise obviously that the law firm had made a mistake on the contract and then obviously some dismay but um... the more that I've thought about it and talked to other individuals I think that maybe we'll squeeze out some of the speculators and hopefully get permanent residents faster than we normally would," said Frank Hibbard the mayor of Clearwater.
Source : http://www.tampabays10.com/
Florida's Existing Home Sales Slower in December 2007
Sales of existing homes and
condominiums in Florida continued to reflect the impact of a sluggish
economy and mortgage financing issues in December. Statewide, sales of
existing single-family homes totaled 8,828 last month while 12,758 homes
sold in December 2006 for a decrease of 31 percent in the year-to-year
comparison, according to the Florida Association of Realtors(R) (FAR).
But some industry analysts see signs that the housing market may be
starting to turn around, with increasing stability in the mortgage sector.
National Association of Realtors(R) Senior Economist Lawrence Yun notes in
NAR's latest market outlook that consumers appear to be waiting for
"additional signs of market stabilization. There are more people with
financial capacity now than in 2005, but many are trying to market-time
their purchase" - which makes the exact timing of the housing recovery more
uncertain, he says. Still, Yun says that 2007 should be the fifth highest
year on record for existing-home sales.
Florida's median sales price for existing single-family homes last
month was $208,900; a year ago, it was $239,900 for a 13 percent decrease.
The median is the midpoint; half the homes sold for more, half for less. In
December 2002, the statewide median sales price for single-family homes was
$145,300, for an increase of 43.8 percent over the five-year-period,
according to FAR records.
The national median sales price for existing single-family homes in
November 2007 was $208,700, down 3.7 percent from a year ago, according to
NAR. In California, the statewide median resales price was $488,640 in
November; in Massachusetts, it was $330,000; in Maryland, it was $293,421;
and in New York, it was $215,000.
Sales of existing condominiums in Florida also decreased last month,
with a total of 2,693 condos sold statewide compared to 3,912 in December
2006 for a 31 percent decline, according to FAR. The statewide median sales
price for condos last month was $187,100, down 8 percent from December
2006's condo median price of $202,500. NAR reported the national median
existing condo price was $221,100 in November 2007.
Last month, interest rates for a 30-year fixed-rate mortgage averaged
6.10 percent, down from the average rate of 6.14 percent in December 2006,
according to Freddie Mac. FAR's sales figures reflect closings, which
typically occur 30 to 90 days after sales contracts are written.
Among the state's larger markets, the West Palm Beach-Boca Raton
Metropolitan Statistical Area (MSA) reported 467 existing homes sold last
month compared to 607 homes sold a year ago for a 23 percent decrease. The
market's median sales price for homes was $337,900; it was $368,200 in
December 2006 for an 8 percent decrease. A total of 419 existing condos
changed hands in the MSA last month, down 18 percent from the 508 condos
sold the previous year. The existing condo median sales price in December
was $161,400; a year ago, it was $215,700 for a 25 percent decrease.
"Our area is a great place to live, with beautiful beaches, diverse
businesses and numerous cultural and leisure activities," says John Mike,
president of the Realtors Association of the Palm Beaches and a Realtor
associate with Prudential Florida WCI Realty. "In December, people are
ready to buy because they want to be able to take advantage of Florida's
homestead exemption for the year. As prices have adjusted to more realistic
levels from the highs at the peak of the boom years, it's opened up housing
opportunities for many more people. And with plentiful inventory, it means
that buyers are able to find exactly what they're looking for from a wide
range of options."
Among the state's smaller markets, the Gainesville MSA reported a total
of 179 homes sold in December compared to 237 homes a year ago for a 24
percent decrease. The existing home median sales price was $188,300; a year
ago, it was $194,200 for a 3 percent decrease. A total of 48 existing
condos sold in the MSA last month compared to 66 condos the previous
December for a 27 percent decrease. The market's existing condo median
price was $135,000; a year ago, it was $161,500 for a decrease of 16
percent.
J. Parrish, president of the Gainesville Alachua County Association of
Realtors and president of Coldwell Banker M.M. Parrish, Realtors, notes the
area's diverse business and employment opportunities continue to attract
new residents. "At the height of the real estate boom years, two to two and
a half years ago, the Gainesville area posted more realistic, sustainable
sales and price gain figures," he says. "Our colleges, the university
system, extensive healthcare industry and other governmental entities
really drive the local economy and provide a strong underlying economic
foundation."
Two charts showing statistics for Florida and its 20 MSAs are attached.
One chart compares the volume of existing, single-family home sales and
median sales prices price in December 2007 to December 2006 based on
Realtor transactions; the other compares the volume of existing,
condominium sales and median sales price December 2007 to December 2006
based on Realtor transactions.
The Florida Association of Realtors(R), the voice for real estate in
Florida, provides programs, services, continuing education, research and
legislative representation to its 150,000 members in 67
boards/associations.
Source : http://www.prnewswire.com/
condominiums in Florida continued to reflect the impact of a sluggish
economy and mortgage financing issues in December. Statewide, sales of
existing single-family homes totaled 8,828 last month while 12,758 homes
sold in December 2006 for a decrease of 31 percent in the year-to-year
comparison, according to the Florida Association of Realtors(R) (FAR).
But some industry analysts see signs that the housing market may be
starting to turn around, with increasing stability in the mortgage sector.
National Association of Realtors(R) Senior Economist Lawrence Yun notes in
NAR's latest market outlook that consumers appear to be waiting for
"additional signs of market stabilization. There are more people with
financial capacity now than in 2005, but many are trying to market-time
their purchase" - which makes the exact timing of the housing recovery more
uncertain, he says. Still, Yun says that 2007 should be the fifth highest
year on record for existing-home sales.
Florida's median sales price for existing single-family homes last
month was $208,900; a year ago, it was $239,900 for a 13 percent decrease.
The median is the midpoint; half the homes sold for more, half for less. In
December 2002, the statewide median sales price for single-family homes was
$145,300, for an increase of 43.8 percent over the five-year-period,
according to FAR records.
The national median sales price for existing single-family homes in
November 2007 was $208,700, down 3.7 percent from a year ago, according to
NAR. In California, the statewide median resales price was $488,640 in
November; in Massachusetts, it was $330,000; in Maryland, it was $293,421;
and in New York, it was $215,000.
Sales of existing condominiums in Florida also decreased last month,
with a total of 2,693 condos sold statewide compared to 3,912 in December
2006 for a 31 percent decline, according to FAR. The statewide median sales
price for condos last month was $187,100, down 8 percent from December
2006's condo median price of $202,500. NAR reported the national median
existing condo price was $221,100 in November 2007.
Last month, interest rates for a 30-year fixed-rate mortgage averaged
6.10 percent, down from the average rate of 6.14 percent in December 2006,
according to Freddie Mac. FAR's sales figures reflect closings, which
typically occur 30 to 90 days after sales contracts are written.
Among the state's larger markets, the West Palm Beach-Boca Raton
Metropolitan Statistical Area (MSA) reported 467 existing homes sold last
month compared to 607 homes sold a year ago for a 23 percent decrease. The
market's median sales price for homes was $337,900; it was $368,200 in
December 2006 for an 8 percent decrease. A total of 419 existing condos
changed hands in the MSA last month, down 18 percent from the 508 condos
sold the previous year. The existing condo median sales price in December
was $161,400; a year ago, it was $215,700 for a 25 percent decrease.
"Our area is a great place to live, with beautiful beaches, diverse
businesses and numerous cultural and leisure activities," says John Mike,
president of the Realtors Association of the Palm Beaches and a Realtor
associate with Prudential Florida WCI Realty. "In December, people are
ready to buy because they want to be able to take advantage of Florida's
homestead exemption for the year. As prices have adjusted to more realistic
levels from the highs at the peak of the boom years, it's opened up housing
opportunities for many more people. And with plentiful inventory, it means
that buyers are able to find exactly what they're looking for from a wide
range of options."
Among the state's smaller markets, the Gainesville MSA reported a total
of 179 homes sold in December compared to 237 homes a year ago for a 24
percent decrease. The existing home median sales price was $188,300; a year
ago, it was $194,200 for a 3 percent decrease. A total of 48 existing
condos sold in the MSA last month compared to 66 condos the previous
December for a 27 percent decrease. The market's existing condo median
price was $135,000; a year ago, it was $161,500 for a decrease of 16
percent.
J. Parrish, president of the Gainesville Alachua County Association of
Realtors and president of Coldwell Banker M.M. Parrish, Realtors, notes the
area's diverse business and employment opportunities continue to attract
new residents. "At the height of the real estate boom years, two to two and
a half years ago, the Gainesville area posted more realistic, sustainable
sales and price gain figures," he says. "Our colleges, the university
system, extensive healthcare industry and other governmental entities
really drive the local economy and provide a strong underlying economic
foundation."
Two charts showing statistics for Florida and its 20 MSAs are attached.
One chart compares the volume of existing, single-family home sales and
median sales prices price in December 2007 to December 2006 based on
Realtor transactions; the other compares the volume of existing,
condominium sales and median sales price December 2007 to December 2006
based on Realtor transactions.
The Florida Association of Realtors(R), the voice for real estate in
Florida, provides programs, services, continuing education, research and
legislative representation to its 150,000 members in 67
boards/associations.
Source : http://www.prnewswire.com/
Tuesday, January 22, 2008
Clearwater Beach Recreation Center may get makeover
On Jan. 17, the City Council is expected to award a $600,000 contract to Oakhurst Construction of Seminole for the renovation of the Clearwater Beach Recreation Center, including the addition of 1,200 square feet of library space.
If everything goes as planned, the library will open in late April and the entire project will be finished by August.
“We’re going to have to phase it in,” Kevin Dunbar, the city’s director of parks and recreation, told the City Council at its Jan. 14 work session. “Our number one priority is to get the library in. The other things in the rec center will be secondary.”
Since the municipal auditorium building that housed it was torn down several years ago, the beach library has been in search of a permanent home. Suggestions have ranged from combining it with a firehouse to closing it. Until recently, it has occupied rented quarters in Pelican Walk.
“The Beach Library has moved out of Pelican Walk and is currently operating out of a temporary trailer in the parking lot west of the recreation center,” a staff memo to the council explained. “This is a priority project and staff is attempting to have the renovations completed as soon as possible in order to move the library from its temporary location to the recreation center no later than May 2008.”
The project was put out for bids and Oakhurst Construction was the lowest of the five qualified bidders. In addition to the construction of the new library area, whole sections of the existing structure will be gutted and refurbished, the fitness room will be upgraded and the kitchen and storage areas will be expanded.
“Twelve hundred square feet of library space will be added but the entire building, which is about 9,000 square feet, is going through various stages of renovation,” Dunbar said.
An additional $64,000 is expected to be allocated to upgrade the glazing in all the windows to bring them up to code and flood-proof them, and add additional windows to the multi-purpose room to take advantage of its waterfront views. Two features that should have been included in the original bid, but weren’t, were millwork for a front counter area in the library, and a separate air conditioning system for the library to protect its books from mildew.
Councilman George Cretekos said that he was told in October that a street sign, directing people to the combined recreation and library, would be ready in five weeks, but it’s still not up. Dunbar promised to look into the matter.
Mayor Frank Hibbard said that he hopes that library patrons will discover the beauty of the refurbished recreation center and rent it for weddings or other events.
“It’s about serving the beach and continuing to have a library out there,” said Hibbard.
Source : http://www.tbnweekly.com/
If everything goes as planned, the library will open in late April and the entire project will be finished by August.
“We’re going to have to phase it in,” Kevin Dunbar, the city’s director of parks and recreation, told the City Council at its Jan. 14 work session. “Our number one priority is to get the library in. The other things in the rec center will be secondary.”
Since the municipal auditorium building that housed it was torn down several years ago, the beach library has been in search of a permanent home. Suggestions have ranged from combining it with a firehouse to closing it. Until recently, it has occupied rented quarters in Pelican Walk.
“The Beach Library has moved out of Pelican Walk and is currently operating out of a temporary trailer in the parking lot west of the recreation center,” a staff memo to the council explained. “This is a priority project and staff is attempting to have the renovations completed as soon as possible in order to move the library from its temporary location to the recreation center no later than May 2008.”
The project was put out for bids and Oakhurst Construction was the lowest of the five qualified bidders. In addition to the construction of the new library area, whole sections of the existing structure will be gutted and refurbished, the fitness room will be upgraded and the kitchen and storage areas will be expanded.
“Twelve hundred square feet of library space will be added but the entire building, which is about 9,000 square feet, is going through various stages of renovation,” Dunbar said.
An additional $64,000 is expected to be allocated to upgrade the glazing in all the windows to bring them up to code and flood-proof them, and add additional windows to the multi-purpose room to take advantage of its waterfront views. Two features that should have been included in the original bid, but weren’t, were millwork for a front counter area in the library, and a separate air conditioning system for the library to protect its books from mildew.
Councilman George Cretekos said that he was told in October that a street sign, directing people to the combined recreation and library, would be ready in five weeks, but it’s still not up. Dunbar promised to look into the matter.
Mayor Frank Hibbard said that he hopes that library patrons will discover the beauty of the refurbished recreation center and rent it for weddings or other events.
“It’s about serving the beach and continuing to have a library out there,” said Hibbard.
Source : http://www.tbnweekly.com/
Friday, January 18, 2008
Name gives motel a Florida feel
The city of Clearwater's first motel is celebrating the beginning of its 61st year.Tucked between the Belleview Biltmore and Morton Plant Hospital on South Fort Harrison Avenue, Gangelhoff’s Summerside Inn, formerly known as “Gangelhoff’s Delux Motel,” is one of the few family-owned establishments in the city.
It is an old-time Florida motel with shuffleboard, pool and clean, well-kept rooms and it offers visitors a rich mix of friendly accommodations and local history.
The story goes that Fred and Hilda Gangelhoff left the bitter Minnesota cold in 1947 for sunny Clearwater. Daughter Lil Howard remembers the beginning.
“My parents had traveled in the west and they had seen new types of hotels for motorists called ‘motels.’ They noticed that there were no motels in Clearwater, just cottage courts. So they bought this property, moved out all the cottage courts that were here and moved the family – six children – down here.”
Howard said that the family spent their summers at their family owned resort in Minnesota, but the six young Gangelhoffs spent fall and winters at the Clearwater motel working around the property and attending South Ward Elementary and Clearwater High Schools.
“I’ve got lots of happy memories,” she says. “We had people coming from all over the country year after year. Once one of the golf pros from the Belleview Biltmore who was waiting for the hotel to open for the season was staying here. He lost his big diamond ring. Everyone looked all over for it, but I was the one who found it. He was very grateful. It was a big thing in my life,” she said.
Yvonne Silcox, a Gangelhoff granddaughter and her husband Joseph, are the new owners. She said they changed the name to give the old motel a new, fresh and modern sound.
“‘Summerside Inn’ sounds warm, friendly and Florida like,” she said.
Silcox notes that regulars still come every year to take advantage of the location, short distance to the beach, restaurants and shopping.
“Our typical customers are families and people from about 40 to 70 who are snow birds, visiting in the area or have someone at Morton Plant,” she said.
There are also new touches at Gangelhoff’s Summerside Inn. The owners have renovated the rooms and now have high speed Internet and cable. Other plans include a grill area around the pool and possibly a Jacuzzi. They are also considering the feasibility of shuttle service to the airport and to the hospital.
Silcox said that her children are following in the family tradition.
“We’re into the third generation. Just like my generation and their grandmother, our kids help out at the motel and attend local schools.”
Source : http://www.tbnweekly.com/
Monday, January 14, 2008
Strong Buyer’s Market Continues in Florida
A recent report by the Florida Association of Realtors suggests that for the month of November 2007, Orlando saw a 35% decline in sales of single-family homes compared with November 2006, while condo sales plumeted by a massive 55%. Orlando condo sales were a meagre 125, down from 276 sold in November 2006 (already a bad year!). Condo VultureMedian condo prices fell 18% from $172 to $140.5
Statewide, sales dropped by 29% with a median sales price of $186,700, a drop of 9% from $204,500 in November 2006.
All of which suggests that the strong Florida buyer’s market is likely to continue at least into the first half of 2008. Something I’m noticing for 2008 that has the potential to drastically reduce inventory, is the trend for desperate developers to sell off their entire inventory at 50-60c on the $$ to investors who convert the conversions back to rental - and hold. Our business in this area grows daily and I expect it to have a serious impact on the number of condos available for sale by the end of 2008 - which will start to drive prices up again. 2008 could go down as the year of the Great Condo Sell-off. If you’ve been waiting around for rock bottom pricing - I’d start moving, because when the vulture-investors start grabbing condos by the bucket load, you know that’s exactly where we are.
Source : http://www.condometropolis.com/
Statewide, sales dropped by 29% with a median sales price of $186,700, a drop of 9% from $204,500 in November 2006.
All of which suggests that the strong Florida buyer’s market is likely to continue at least into the first half of 2008. Something I’m noticing for 2008 that has the potential to drastically reduce inventory, is the trend for desperate developers to sell off their entire inventory at 50-60c on the $$ to investors who convert the conversions back to rental - and hold. Our business in this area grows daily and I expect it to have a serious impact on the number of condos available for sale by the end of 2008 - which will start to drive prices up again. 2008 could go down as the year of the Great Condo Sell-off. If you’ve been waiting around for rock bottom pricing - I’d start moving, because when the vulture-investors start grabbing condos by the bucket load, you know that’s exactly where we are.
Source : http://www.condometropolis.com/
Monday, January 7, 2008
Boca's Eden condo project may become homes for seniors
Boca Raton - The much-troubled and partly built Boca Raton Eden condo project, once billed as a luxury development, may turn into homes for seniors and an assisted living facility.Ceebraid-Signal Corp. teamed with Atlanta-based Parc Senior Communities to finish the project that's years behind schedule and has faced financial difficulties. They submitted a plan to City Hall on Dec. 21 showing that they want to change the four-building, 248-unit condo project into 193 senior residences and 82 assisted living units.
That has the residents who moved into the project's one finished building fuming.
"This is not what I spent a half-million dollars for," said Seid Bernard, who attended a city meeting Wednesday to review the developer's latest plans.
Adam Schlesinger, vice president of Ceebraid in West Palm Beach, declined to comment Wednesday.
Angry residents have turned to City Hall for help even though the city can't control what the builders do with the project as long as they follow city rules.
For the developers to build the assisted living facility, they need city approval for a rule change since it's not allowed under current zoning regulations. That may give the city some leverage in wringing added concessions from the developers.
In September, skeptical City Council members granted a two-year extension on Eden's building permits. They agreed to a third extension as long as the developers stick to a stringent schedule. So far Ceebraid and Parc have complied with the city's requests.
Bernard lives in the five-story building that stands next to three hulking, gray building skeletons that the developers boarded up on city orders. He said he would move if Ceebraid paid him today's market price for a downtown Boca Raton condo. The developers have offered those who closed on their units what they paid plus some money for closing costs.
Source : http://www.ccfj.net/
Tuesday, January 1, 2008
Condo crash burns big, sophisticated investor, too
It's not just schoolteachers, bartenders and other real estate amateurs who got burned by the condo crash. Some big, seemingly sophisticated investors are taking hits, too.Condo converter Tarragon Corp. (Nasdaq: TARR) of New York just unloaded the 311-unit Floresta Apartments at 400 Via Royale in Jupiter for a hefty 28 percent loss.
Tarragon bought the complex for $83.95 million in February 2006, just after the condo boom ended. It sold the apartments this month for $60.25 million, according to property records.
The buyer was TGM Associates, which paid Tarragon $71 million for an apartment complex in Abacoa in October.
Tarragon has been in the midst of a nationwide fire sale. It said last month that it expected to write off $350 million as a result of the falling values of its properties.
Shares in Tarragon have plunged from more than $20 in early 2006 to less than $2 now.
***
More evidence of a slowing commercial real estate market: An $80 million deal for Vista Business Park west of West Palm Beach has fallen through.
When owner Steve McCraney contacted institutional investors this summer about selling the 500,000-square-foot industrial complex and two smaller warehouse parks, the offering was expected to be a home run that would net $100 million, thanks to a white-hot industrial market. What a difference a few months make.
"We're back to a real market," McCraney said last week.
The winning bidder's financing recently fell through, and McCraney said he's talking to other bidders. Belvedere Business Park in Palm Beach County and Treasure Coast Commerce Center in Martin County no longer are part of the package.
McCraney described himself as "an ambivalent seller." After all, he bought the land cheap and enjoys high occupancy rates.
"If it doesn't sell, we're great with that," he said.
But with residential real estate faltering, brokers say potential bidders are taking a harder look at McCraney's tenants and realizing that many of their fortunes are tied to the housing market.
The housing slump "is affecting everybody," said Randall Greene of Palm Beach Gardens-based Catalfumo Construction and Development. "There's even a spillover into the Class A office market."
***
When German firm Biotest Pharmaceuticals paid $185 million for Nabi Biopharmaceuticals on Dec. 4, it also bought Nabi's real estate at Arvida Park of Commerce in Boca Raton.
Biotest paid Nabi $30.3 million for 23 acres at 5800 and 5900 Park of Commerce Blvd., according to property records. That price was part of the $185 million deal, Nabi told the U.S. Securities and Exchange Commission.
***
Has Callery-Judge Grove's 3,500 acres in the middle of Palm Beach County escaped the plunge in property values? One appraiser thinks so.
Gyrodyne Co. of America (Nasdaq: GYRO), the St. James, N.Y., company that owns 10.93 percent of Callery-Judge Grove, said this month that an appraiser it hired valued the land at $205 million as of June 2007.
That's down only 0.36 percent from a 2006 estimate by the same company, Pinal Appraisal Services, Gyrodyne said.
Source : http://www.palmbeachpost.com/
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