Jade Beach

Jade Beach Closeout - Developer Default Inventory

The most Luxurious Condominium in Sunny Isles Beach

Dear Visitor, 

In conjunction with Point2Homes we provide an exclusive opportunity to market properties worldwide online. Sunny Isles Beach Broker is the exclusive Point2Homes neighborhood expert for Jade Beach Condominium in Sunny Isles Beach and appears as the “Jade Beach Featured Expert” within the listings directory featured on Point2 Homes, visited by millions of consumers every month.

Jade Beach in Sunny Isles Beach is an oasis unto itself. Overlooking the purest and widest beach in South Florida, just minutes from the ticking heart of a cosmopolitan city and nestled among some of the finest shopping in the world – Bal Harbour Shops and the Aventura Mall. Jade Beach Condominium is already being referred to as the most precious gem in the Western Hemisphere due to its elegance, beauty and character. It is a luxury residence that caters to every possible whim and desire, and where everybody speaks the two indigenous languages of luxurious hospitality and unsurpassed service.

Jade Beach Sky Homes come with superior modern amenities to define a new standard in luxury living. From the latest in Smart Home technology for interactive communication to floor to ceiling glass terraces offering brilliant views of the ocean to a private beach club with cafe and cabanas, nothing has been overlooked. This 51-story landmark epitomizes spectacular design, and is accented with the finest details such as masterfully crafted Italian Snaidero cabinetry as well as European Miele appliances.

Residents of this newest Sunny Isles Beach 5-star condominium are experiencing pure luxury in a private, modern beachfront oasis. To stay up to date on listings, sales, simply best deals available or to schedule a preview, please call (786) 406-1757 and bookmark Sunny Isles Beach Broker's Blog for pictures and updates. 

Jade Beach - simply the most prestigious place to live in Miami!

Jade Beach Floor Plans -»

Please free to call me with all your Jade Beach questions. We are now offering the Best Deals on Developer Default Inventory.

Sincerely,

Katerina Brosda, Broker

Brosda & Bentley Realtors™ 

Jade Beach Condo Blog: http://jadebeachcondo.wordpress.com/

Related Blog:

Jade Ocean Condo Blog: http://jadeoceancondo.wordpress.com/

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Florida home sales up 16%, condo sales rise by 21% in May

Sunny Isles Beach, Fla., June 23, 2009 – Florida’s existing home sales rose in May – the ninth month in a row that sales activity increased in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). Statewide sales showed gains over the previous month’s sales level in both the existing home and existing condominium markets. Also, for the first time in many months, the statewide median sales price in May for existing homes and for existing condos rose over the previous month’s figure.

Existing home sales rose 16 percent last month with a total of 13,921 homes sold statewide compared to 12,044 homes sold in May 2008, according to FAR. Statewide existing home sales in May increased 6.2 percent over April’s statewide activity. Florida Realtors also reported a 21 percent rise in statewide sales of existing condos in May; existing condo sales last month rose 3.8 percent over the total units sold in April.

“The improving sales of existing single family homes and condos is a trend we have been seeing for several months in Florida – what is new in this month’s data release is that we are seeing evidence of prices beginning to firm,” says Dr. Sean Snaith, director for the University of Central Florida’s Institute for Economic Competitiveness. “While one month of data does not a trend make, it is the first green shoot we have seen in some time as far as prices are concerned; until prices stop declining, we cannot state with confidence that the housing market has stabilized. Sales have risen to levels we have not seen since 2006, though the economy still faces headwinds. As credit markets begin to thaw this will help speed along this process of recovery in the housing market.”

Thirteen of Florida's metropolitan statistical areas (MSAs) reported increased existing-home sales in May and 13 MSAs also showed gains in condo sales. A majority of the state's MSAs have reported increased sales for 11 consecutive months.

Florida’s median sales price for existing homes last month was $144,400; a year ago, it was $203,800 for a 29 percent decrease. However, the statewide existing home median price in May was higher than the statewide median price reported in each of the previous four months. According to housing industry analysts with the National Association of Realtors® (NAR), sales of foreclosures and other distressed properties continue to lower the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in April 2009 was $169,800, down 14.9 percent from a year earlier, according to NAR. In California, the statewide median resales price was $256,700 in April; in Massachusetts, it was $275,000; in Maryland, it was $255,587; and in New York, it was $185,000.

According to NAR’s latest housing industry outlook, buyers are responding to favorable market conditions. “Now the $8,000 first-time buyer tax credit is beginning to impact the market,” said NAR Chief Economist Lawrence Yun. “Since first-time buyers must finalize their purchase by Nov. 30 to get the credit, we expect greater activity in the months ahead and that should spark more sales by repeat buyers.” Many homebuyers are taking advantage of the bargain prices offered on foreclosed listings in states like Florida, California and Nevada, Yun noted, which should “set the stage for healthy market conditions going forward.”

In Florida’s year-to-year comparison for condos, 4,839 units sold statewide compared to 3,998 units in May 2008 for a 21 percent increase. The statewide existing condo median sales price last month was $113,400; in May 2008 it was $181,700 for a 38 percent decrease. May’s statewide existing condo median price was the same as January’s statewide median, and was higher than the median reported in February, March or April. The national median existing condo price was $173,900 in April 2009, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 4.86 percent last month, down significantly from the average rate of 6.04 percent in May 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

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Miami Home Sales Double Again in April

In Miami, there was a 98 percent increase of existing single-family home sales in April 2009 compared to April 2008, the second continuous month for sales to double from the previous year. Miami was the strongest market in Florida showing a substantial increase compared to only 18 percent statewide. The sales of existing condominiums in Miami-Dade increased by 70 percent compared to the same period last year, more than tripling the statewide increase of 21 percent. The Miami real estate market has experienced a surge in sales each of the last nine months. This trend strongly points to the recovery of the South Florida real estate market.

“Interest rates are at their lowest in years and the recently announced monetization of the $8,000 first time homebuyer tax credit will further stabilize the housing market in South Florida,” said Rick Burch, 2009 Chairman of the Realtor Association of Greater Miami and the Beaches.

Details for the federal government’s plan, which allows eligible borrowers to monetize the first-time homebuyer tax credit, are still being finalized. State agencies and other HUD-approved entities would be able to provide short-term bridge loans that households could use to help with their downpayment. The loans would be repaid with proceeds from the households’ federal tax credit.

“In addition to local and other U. S. buyers, the market continues to strengthen for International buyers,” said Residential President Martha Pomares. “RAMB is exhibiting and meeting with international real estate professionals at the SIMA Real Estate Expo in Madrid this week and the interest in Miami and South Florida real estate continues to grow. The Miami lifestyle hasn’t changed but the market has, and buyers worldwide are aware of the changes and looking to take advantage of the current market opportunities.”

The number of days a property stays on the market and inventory levels have continued to decrease substantially, another positive indicator of the South Florida market strengthening. The inventory of listings in the Southeast Florida Multiple Listing Service has dropped nearly 1/3 in less than a year - from 43,000 to 32, 877 – and April 2009 brought a six percent decrease in just one month.

Due to an increased number of foreclosures and short sales, median sales prices continue to drop – but at a slower pace in April. The median sales price for single-family homes reported in Miami-Dade in April 2009 was $177,000, a 39 percent drop from the previous year. The median sales price for condominiums was $133,500, a 51 percent decrease from April 2008. Statewide, sales prices dropped 18 percent for single-family and 21 percent for condominiums.

 Miami Home Sales Jump 72 Percent in the 1st Quarter

Miami sales of single-family homes soared 72 percent in the first quarter of 2009 from a year earlier, according to Realtors statistics. For major metro markets, Miami was the hottest in the state with Ft. Lauderdale next at 46 percent. Statewide single-family sales only increased by 25 percent.

The sales of existing condominiums increased by 51 percent in Miami compared to the first quarter of 2008, while statewide there was only a 19 percent increase in the sales of existing condominiums. Only Orlando hit a higher percentage increase in sales, but at the cost of a much bigger loss in their median sale price.

“Miami has been one of the strongest comeback markets in the State of Florida for the last eight months. The number of Miami sales has been increasing consistently since August 2008, statistics and timeframe that definitely point to a market recovery,” said Rick Burch, RAMB Chairman of the Board.

“Since the passing of the 2009 First-Time Home Buyer Tax Credit, sales have spiked substantially,” said RAMB Residential President Martha Pomares. “Interest rates have dropped down to their lowest levels in over a decade and have brought more buyers into the market. The magical combination of rates, tax credit, other incentives and rock bottom prices has created a compelling and unique buying opportunity for nearly everyone.”

In addition to first time buyers, international buyers continue to play a significant role in recent home sales. U.S. buyers particularly from the Northeast are actively pursuing the South Florida real estate market.

“Home buyers are taking advantage of favorable affordability conditions not seen in years. European buyers, who benefit from discounted pricing and the strength of the Euro and the British pound, continue to invest in South Florida real estate,” said Rick Burch, 2009 Chairman of the Realtor Association of Greater Miami and the Beaches. “Brazilian and Venezuelan buyers are among the strongest from the Americas, along with others who are taking advantage of a great buyers market in Miami.”

Demand for properties is also increasing significantly. Pending home sales in Miami-Dade County increased approximately five percent in April 2009 from March, which was one of the strongest months in the last couple of years.

“We are beginning once again to see bidding wars similar to the ones we saw during the boom,” said Burch. “Consumers who were on the fence are now seizing the opportunities.”

While at a slower pace, median sales prices continue to decrease due to an increased number of foreclosures and short sales. The median sales price for single-family homes reported in Miami-Dade in the first quarter of 2009 was $203,700, a 38 percent drop from the first quarter of 2008. The median sales price for condominiums was $149,000, a 47 percent decrease from the previous year. Statewide, sales prices dropped 38 percent to $141,000 for single-family and 38 percent to $110,100 for condominiums.

“It is important to remember that a $203,700 median price for single family and $149,000 for condominiums means that an amazing one half of all homes and condos sold were under these amounts,” said Burch. “This is the first time in many years that the market has been so strong and so affordable for people in all price ranges in Miami and South Florida.”

Local real estate market continues to confound

A report from RealtyTrac Inc. that 342,000 American families received a foreclosure-related notice in April – that’s up 32 percent from April 2008 – help send the stock market skidding May 13.

That’s bad news nationally. And the South Florida numbers are much worse. Realty Trac says foreclosures in both Miami-Dade and Broward counties were up about 90 percent over the same period. In addition, foreclosures in Miami-Dade  were up 111 per cent between March and April. The Broward County increase is pegged at 124 percent between March and April.

But for an up-to-date snapshot of the local market, talkofaventura.com turned to data from two national real estate search firms and to local realtors who see conditions here day in and day out.

The average listing price for an Aventura home is continuing to rise – up 0.9 percent to $513,627 in the week ending May 6 — but the median sales price of $215,000 for the quarter ending April 30 continues to fall, according to Trulia.com. A total of 2,101 Aventura homes are on the market with 245 in some stage of the foreclosure process.

In Sunny Isles Beach, both listing price — $783,152, down 3.7 percent from the previous week — and median sales price — $305,000 for the three-month period, down 20.8 percent from a year ago  — are trending lower. There are 945 homes on the market and 240 in foreclosure. Trulia.com reports.

The online real estate search firm’s data shows sales volume is coming back strongly in both Aventura – up 103.5 percent over a year ago — and Sunny Isles Beach – up 236.4 percent.

But average per square foot price is still down 22.4 percent from a year ago – to $177 per square foot — in Aventura and down 26.1 percent – to $221 per square foot — in Sunny Isles Beach.

So what are prospective buyers and sellers to make of such conflicting data?

It’s still a buyers’ market but there are hopeful signs, local realtors agree. And they have some hints to share.

First, forget the idea that the exodus of snowbirds signals the start of off-season for real estate, says Katerina Brosda, president and CEO of Brosda & Bentley Realtors, a boutique firm based in Aventura.

Struggles of the American economy have sent brokers looking offshore for buyers and offshore buyers to South Florida for bargains, she says. The Germans are back in a big way. So are Russians, Italians, Israelis and even the Chinese. And this is the time of year when the market sees an influx of South America’s inverted snowbirds, escaping that continent’s winter weather.

Brosda points to Jade Beach, where 65 percent of the units have closed and few of those paying the $500,000-plus price needed a mortgage. The power of the ocean, the charm of the Sunny Isles Beach strip and the security of a well-managed building remain a compelling draw for those who are largely immune from the vagaries of the economy.

She says her agents are busy,  a promising signal also spotted by Andre Shambley of The Keyes Company. Both are seeing increased activity from investors who like the deals they can now negotiate. Shambley also is seeing some opportunistic first-time buyers.

While Brosda doesn’t see the federal $8,000 homebuyer “stimulus” tax break playing much of a role along the ocean, she and other brokers concede it may help generate some traffic later this year, particularly in more moderately priced Aventura and non-oceanfront Sunny Isles Beach properties.

Ellen Bithell and Agnes Stalmach, the owners of RE/MAX Executive Realty in Hollywood, are betting the stimulus does drive extra business. Beyond the tax break, they’re encouraging prospective buyers to explore the Neighborhood Stabilization Program. Cities set the rules for this program that is not restricted to first-time homebuyers.

Meanwhile, sale prices continue to fall. Numbers from national real estate website Zillow.com echo those from Trulia.com.

Zillow.com shows Aventura with a “median home value index” of $225,083, down 21.4 percent from a year ago. It puts Sunny Isles Beach property in worst shape. Using the same methodology, it sets Sunny Isles Beach value index at $197,259, down 34.8 percent from a year ago (TalkofAventura.com).

Florida’s Existing Home, Condo Sales Rise by 30% - Home Sales Up Even 32.7 % Over February 2009 Sales

Sunny Isles Beach, Fla., April 2009 – Florida’s existing home sales increased in March, making it the seventh month in a row that sales activity demonstrated gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). March’s statewide sales also increased over the previous month’s sales level in both the existing home and existing condo markets.

Existing home sales rose 30 percent last month with a total of 13,085 homes sold statewide compared to 10,080 homes sold in March 2008, according to FAR. Statewide existing home sales in March were 32.7 percent higher than February’s statewide sales.

Florida Realtors also reported a 25 percent rise in statewide sales of existing condominiums in March, continuing a trend in recent months for higher statewide sales of both the existing home and existing condo markets compared to year-ago levels. Statewide existing condo sales last month increased 37.2 percent over the total units sold in February.

Fifteen of Florida’s metropolitan statistical areas (MSAs) reported increased existing-home sales in March and 13 MSAs also showed gains in condo sales. It marks the ninth consecutive month that a majority of markets have reported increased sales.

Florida’s median sales price for existing homes last month was $141,300; a year ago, it was $201,700 for a 30 percent decrease. Industry analysts with the National Association of Realtors® (NAR) report there is a significant downward distortion in the current median price due to many discounted sales, including a large number of foreclosures. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in February 2009 was $164,600, down 15 percent from a year earlier, according to NAR. In California, the statewide median resales price was $247,590 in February; in Massachusetts, it was $252,500; in Maryland, it was $253,200; and in New York, it was $210,000.

NAR’s latest housing industry outlook reported that entry-level buyers are seeking bargains, which resulted in sales of distressed properties accounting for 40 to 45 percent of February’s transactions. “Given the downward distortion in price comparisons due to distressed sales, it’s important for owners to keep in mind that this doesn’t equate to a similar loss of value for traditional homes in good condition,” said NAR Chief Economist Lawrence Yun.

In Florida’s year-to-year comparison for condos, 4,388 units sold statewide compared to 3,503 units in March 2008 for a 25 percent increase. The statewide existing condo median sales price last month was $108,700; in March 2008 it was $172,300 for a 37 percent decrease. In the latest data available at press time, NAR reported the national median existing condo price was $172,200 in February 2009.

Interest rates for a 30-year fixed-rate mortgage averaged 5 percent last month, down significantly from the average rate of 5.97 percent in March 2008, according to Freddie Mac. FAR’s sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

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5Qs interview: CEO of Brosda & Bentley says market is alive

Katerina Brosda, president and CEO of Brosda & Bentley Realtors in Aventura, has been a leader in pursuing potential buyers to the far corners of the globe. Her firm now has affiliate offices in Dubai, London, Monte Carlo and Paris and she reports her agents are working overtime making high-end deals. She agreed to share her take on the local market with talkofaventura.com:

TOA: Prices keep falling; foreclosures keep rising; but sales are up. Is the Aventura-Sunny Isles Beach market on the rebound?

Brosda: That is truly difficult to predict. There is certainly a huge difference between oceanfront and west of Collins in Sunny Isles Beach and along the beaches. In Aventura, one must differentiate between established community and new development, especially south of 180th, with so many new condos competing for ever more discerning buyers.

In Sunny Isles Beach, the Jade Beach and Trump Royal developments recently won Fannie Mae approval, enabling the developers to sell the remainder of units to buyers wanting to apply for financing for a portion of the purchase price. Trump Towers has had over 15 sales in April and many more contracts scheduled to close. The spectacular St. Tropez Towers has arranged for special financing terms for its buyers, but the real action is in short sales, pre-foreclosure sales and heavily discounted properties throughout both cities. Short sales now take only six weeks or less to close, as banks have become more understanding and well versed in the process.

Are we close to a bottom: Very close indeed! Let me put it this way: You buy an oceanfront property today, you cannot go wrong. May prices come down even further? Perhaps somewhat, but you do not worry too much when you are purchasing today with the intend to hold on to the property for several years.

As far as mid-priced or lower-end priced properties are concerned, even more buyer-education is necessary, as buyers think that banks will accept the lowest offer or even give properties away, which is not the case at all. There is also a common misconception that banks will treat a property as a liability rather than as an asset and want to get rid of it at any price. That is not true, either. And many buyers think they are the only ones buying. Not true at all. As recently as a few days ago an out-of-state buyer could not make up his mind on his dream condo. He was hesitating and thought he had time to think to make an offer. By the time he did make up his mind other buyers were faster and already made the accepted offer.

TOA: We keep hearing about new oceanfront condo towers with so many non-paying units that the associations are struggling to keep the lights on. Do you foresee a period when some quality buildings become just no-buy zones? And if so for how long?

Brosda: We keep hearing or reading the same rumors sometimes from rather questionable sources. If there is a developer in town wanting to sell product, we would be the first to learn about it! All new development plans are two, three, four years down the road. There are many approved oceanfront developments on record in Sunny Isles Beach, but they are not happening right now. Some condos are struggling with collecting maintenance assessments. This may remain an issue for as long as the overall economy is stabilizing. At Brosda & Bentley Realtors we have a strict corporate policy to require association boards to provide us with a written statement as to their financial status, reserve accounts and percentage of delinquent owners. If we see the numbers out-of-order, we will advise our clients to reconsider a purchase based on the findings. We do, however, market and sell pre-construction near downtown as there remains demand for specific niche product.

TOA: Your agency has offices all over the world. How does South Florida real estate look today from, say, a European perspective?

Brosda: Italians love America and especially Florida. Period. With the announcement of Fiat taking over Chrysler, we had entrepreneurs calling from Italy wanting to buy or take over Chrysler dealerships and simultaneously looking for housing, especially in South Beach. The British who were strong buyers up until a year ago have almost vanished as buyers. The French and Germans are still buying selectively. As a matter of fact, we have several scheduled appointments for the summer months from prospects visiting from Europe expressing interest to buy Southeast Florida real estate. Even with the concerns of the global economic struggles, the U.S. still remains the leading safe-haven for real estate investors from all over the world. Europeans are very demanding in their requirements and know exactly what they want and what not as they do their research online!

TOA: What’s your best advice to prospective buyers?

Brosda: As one of the leading full-service real estate companies in Florida, I would advise any potential buyer to make sure that they are dealing with a Realtor that knows what he/she is talking about. We have an increased number of calls from Realtors who do not even have access to the MLS anymore, inquiring with us as to the availability of condos in a specific building. This is unacceptable to the profession. Buyers must be clear as to know what they want and Realtors must be able to help to identify properties their prospects desire. I do see home sales gradually stabilizing. The action is in lower price ranges and mid-price ranges. High-end properties are picking up again, but we find those buyers, oversees, in Europe, South America or even India. If you can afford it, time to buy is right now. I don’t believe that this generation will ever see low prices and interest rates like this again.

TOA: What’s your best advice to prospective sellers?

Brosda: If you are in the market to sell, demand a marketing agent not just a real estate agent — someone who is dedicated not just to selling your home, but to selling it for more. Expect your real estate consultant to be an expert negotiator. Negotiations take preparation, strategic thinking and persistence, requiring the agent to devote time throughout the selling process. Find an agent who is a property promoter, not a personal promoter. It’s great for an agent to claim a top ranking and be #1 in some local magazine’s award- giveaway, but it’s meaningless unless that agent is promoting your property and not his own prestige. Insist on an agent with capable information technology skills, including online and database understanding.

Real estate sales move at the speed of light and you should expect your agent to handle complex Internet searches and manipulate secure databases.

Last but not least, favor Realtors who are leaders in their communities and who have a record of giving back. Real estate consultants who invest in where they live will use their skills in your favor as they will remain in that community long after you have moved away.