Wednesday, June 16, 2010 | Miami Home Value, Uncategorized | Posted by Miami real estate agent
As promised here is the 2010 First Market Values Report for properties in Brickell Key, Miami Florida. In this article i will take a closer look at the performance of one building in particular, Three Tequesta Luxury Condo located at 848 Brickell Key Drive Miami Florida 33142. You may also see the 2010, 1st Quarter Brickell Key Market Analysis and House Value Trends on my other article. Here you will find condos sold in 2010 only in this building until June 1st, 2010, also a comparison on sold condos from previous year 2009, financing used to purchase, median purchase price, days on the market that a condo took to get sold, the reduction percentage amount from listed price to sales price, number of distressed sales, recently sold units within the last 30 days.
Many will think that i must be crazy to list a median average original listed price and then the reduced price and finally the sold price. I wanted to share a mental image of how in today’s market a seller must be committed to list, revise the listed price, reduce and then willing to negotiate to get the property sold, many condos not only at Tequesta Point at Brickell Key for instance but around Miami Dade County are getting price revisions more than one time to meet buyer’s expectations. Here you see a comparison between 2009 and 2010 (First months) negotiation trends and price reductions at Three Tequesta.
As you can see in 2009 original listed price was very close to the reduced price if any and was more aggressive in negotiating to agree on a sales price.
Looking at the chart you may think that depreciation is playing a role here however its not the case, Three Tequesta looks pretty solid compared to other buildings in the same category and geographical location on Brickell Key. The average size of condos sold during 2009 was 1,694 square feet while condos sold year to date in 2010 have an average living area of 1,293 smaller than the ones sold during 2009. Price per square foot during 2009 was a median of $374.85 compared to 2010 (year to date) a buyer is paying $397.48 per square feet, in essence buyers are paying more per square feet in 2010 than what it paid during 2009 at Three Tequesta in Brickell Key.
What’s the average discount rate at Three Tequesta in Brickell Key in today’s market?
Statistics show that during 2009 a median original listed price was $780,000 and the median sales price was reduced to $635,000 a 23% discount from original listed price to sales price. The trend on 2010 is very different, sellers with the assistance of Realtors are now understanding better the flow of the market and listing properties more aggressively, so far in 2010 we are seeing a median listed price of $624,000 and a sales price of $562,500 only 11% discount.
Its too early to predict how the market will continue to perform at Three Tequesta in Brickell Key and if a reduction on price will stabilized however due to an inventory of condos on the market today of a total of 26 units with no sold properties during the month of May 2010, also the average days on the market its taking for a condo to get sold is higher than in 2009. It may quite likely be the closer to the same rate of 2009 or greater.
Distressed Sales at Three Tequesta. How Healthy is this building?
Different from many in the area Three Tequesta was free of distressed sales during 2009 with no REO (bank owned sales) or short sales, however we are seeing 1 sold short sale during the first months or 2010, regardless is not an alarming situation considering 25% of Brickell sales are short sales in today’s market. The average sales price during 2009 for larger units average 1,694 square feet was $635,000 compare to 2010 first month a median sales price of $562,500 for smaller units in the average of 1,263 square feet which are a less desirable floor-plan at Three Tequesta.
How did buyers purchased condos at Three Tequesta using cash or financing?
Let’s take a look at financing availability in this building. During 2009 Three Tequesta had a in influence of cash buyers. Most sold condos used this method 7 out of a total of 11 sales that occurred during 2009. The trend so far in 2010 is completely the opposite, out of 6 sold condos YTD at Three Tequesta purchased using conventional loan financing. This is a great factor considering lenders are not extending credit to most of Brickell Condos since they consider condo financing a high risk and the exit of Mortgage Insurance companies from Miami Dade County in general a Big NO to condo financing by local Banks is very common in the region. Also is in indication that Three Tequesta is a Healthy Building, remember that in order to extend financing lenders gather a lot of key information such as percentage of delinquent condo owners in the building (meaning those owners that are behind association dues or delinquent on mortgage payments) also lenders look at insurance coverage, owner occupancy ratio vs rental ratio and many other factors. Considering this building is mostly second home for many owners in an averge of 75% non owner occupied and leaving 25% of full time residents (let’s call it like that) owner occupied condos, the association has managed to handle the building in very good standards thru all this housing crisis. Who is lending at Three Tequesta is now the question which i will discuss in a separate article.
Conclusion:
Three Tequesta is a healthy building allowing financing for purchases over $500,000 is a big plus for buyers in today’s market. It’s also a big selling point even though there is enough inventory and poor sales during the last months Tequesta Three is performing better than last last year with a total of 6 sales in the first quarter of 2010 ending on April 2010. Pricing is a big factor for buyers and is reflected on the purchase price even though larger units are more desirable today.Three Tequesta is a great building to buy and to sell if priced competitively since a buyer’s market is still dominating today’s real estate market in Brickell Key Miami Florida.
Data obtained from the Southeast MLS System
Tuesday, April 6, 2010 | Miami Short Sales | Posted by Miami real estate agent
Today started the new short sale process which is believe to standardize, speed up and simplify the short sale nightmare we have been dealing with for sometime now. The major problem is that many lenders don’t know about the process and neither to say homeowners, its out duty as Realtors to spread the word and cooperate with this process and hope it will work as fast and as effective as it was meant to be.
Due to the complexity of this process and its guidelines i have decided to post here some Frequently asked questions and Video to help you understand in plain english what is HAFA about and how will affect the short sale process and the benefits for Homeowners, Buyers and Realtors.
| FAQS – QUESTIONS |
ANSWERS |
| WHAT’S HAFFA? |
HAFFA is Home Affordable Foreclosure Alternative. This program is design to speed up the short sale process and is an amendment to the existing HAMP program (Home Affordable Modification Program) |
| HOW LONG DOES THIS PROGRAM LASTS? |
From April 5, 2010 until December 31, 2012. |
| PROGRAM BENEFITS |
- Offers Monetary Incentives to Homeowners for the purpose of Relocation**See details of program below.
- Lender Must respond on an specific time frame, Speeding up Short Sale decision
- Lender will let the homeowner know the minimum short pay off they are willing to accept before presenting a purchase offer.
- Lender forfeits ability to pursue deficiency judgment from homeowner
- The Process uses standard forms for all lenders. Promises to be a more organized system.
|
| HOW CAN I VERIFY IF MY LENDER IS PARTICIPATING ON THIS PROGRAM? |
Until now there are over 100 lenders participating on this program for an updated list go to: http://www.makinghomeaffordable.com/contact_servicer.html |
| QUALIFICATION REQUIREMENTS |
- ONLY Primary homes qualify. NO Investment properties
- Loan must have originated before Jan 1, 2009
- The Loan is a 1st Loam Mortgage No Lines of Equity or 2nd Mortgages
- Your unpaid balance loan does not exceeds or is equal to $729,750
- Borrower’s total monthly mortgage payment exceeds 31% of borrower’s gross income. (I can help you figure this out)
|
| WHAT HAPPENS TO THE 2ND MORTGAGE? |
Homeowner must work with 2nd lien holder to get a release of the loan in order to move forward with a short sale or better yet have a short sale specialists handle this on the homeowner’s behalf |
| WHO SETS THE LISTING PRICE? |
Again, now the lender/servicer will inform the homeowner on their short sale approval letter how much they will take as a short sale pay off amount. terms and conditions as well as a list of expenses will show on the short sale approval form.*Download this form on the links shown below |
| DOES THE BORROWER NEEDS TO SUBMIT ALL THE PAPERWORK AS BEFORE? |
NO. If the borrower has applied for modification does NOT need to present all paperwork as before example: 2 years income tax returns, most recent bank statements, most recent pay-stubs etc since they have already provided all of the above, the lender will work with their existing file however they must send updated documentation. If a borrower is starting the process Step 1 = Applying for a Loan Modification, then its needs to send a full file |
| WHAT HAPPENS TO THE UNPAID BALANCE? |
The amount of debt forgiven might be treated as income for tax purposes. Under a law expiring at the end of 2012, however, forgiven debt will NOT BE TAXED IF the amount does not exceed the debt that was used for acquisition, construction, or rehabilitation of a principal residence. Check with a tax advisor. |
| WILL MY CREDIT BE AFFECTED ON A SHORT SALE? |
YES, The servicer will report to the credit reporting agencies that the mortgage was settled for less than full payment, which may hurt credit scores. The amount of points or the way that it will be affected is unknown and it varies depending on each particular borrower. |
STEP 1: – APPLY FOR A LOAN MODIFICATION
STEP 2: – REQUEST A SHORT SALE
STEP 3: – CLOSE ON THE SALE OF YOUR HOME
DOWNLOAD BORROWER FORMS HERE:
Request for Loan Modification
Tax Form 4506 must be sign and completed by Borrower and presented with the loan modification form
Short Sale Agreement (Exhibit A) – Last updated: March 26, 2010
Request for Approval of Short Sale (Exhibit A1) – Last updated: March 26, 2010
Alternative Request for Approval of Short Sale (Exhibit B) – Last updated: March 26, 2010
FREQUENTLY ASKED QUESTIONS FOR NEW SHORT SALE PROCESS HAFA (Home Affordable Foreclosure Alternatives Program)
WHAT’S HAFA?
HAFA was created as a extension or complement to the existing HAMP program (Home Affordable Modification Program) providing other alternatives to homeowners that do qualify for Loan Modification Programs but are unable or don’t want to keep their homes.
The HAFA program may make a short sale or a deed-in-lieu of foreclosure an option to help homeowners avoid foreclosure. The HAFA Program, which will start on 04/05/2010, gives banks and servicers, 1st loan holders, 2nd loan holders, etc and sellers incentives for these transactions, it was also created to streamline the process by using standard forms and processing. HAFA program ends on December 31, 2012.
$$ WHAT ARE THE INCENTIVES $$
The HAFA Program gives $3,000 to homeowners for relocation assistance, $1,500 to servicers = banks for administrative and processing costs, and up to $2,000 to investors who allow up to $6,000 in short sale proceeds to be distributed to subordinate lien= 2nd and 3rd loans holders.
ELIGIBILITY AND NOTIFICATION
Each Lender/Bank or Servicer follows its own own policies and determines if the homeowners/borrower is eligible for this program. The Servicer usually the Bank will listen to a short sale request if the borrower qualifies as shown below
TIME TABLE
1 STEP – THE BORROWER MUST QUALIFY OR DO ONE OF THE FOLLOWING:
TIME FRAME: 30 DAYS – LENDER OR SERVICER MUST CONSIDER IF THE BORROWER IS ELIGIBLE FOR HAFA
-Does not Qualifies for a HAMP trial period plan
-Does not succesfully complete a HAMP trial period plan
-Is delinquent of a HAMP Modification (misses at least 2 consecutive payments)
-Requests a short sale or DIL
If a servicer has not already discussed a short sale or DIL with the borrower, it must notify the borrower in writing of these options and give the borrower 14 calendar days to respond, orally or in writing. If the borrower does not respond, that ends the servicer’s duty to give a HAFA offer. If the borrower asked for consideration but a short sale or DIL is not available, the servicer must inform the borrower with an explanation and provide a toll-free number.
WHO IS ELIGIBLE FOR HAFA?
-Principal residence.
The property may be vacant up to 90 days before the date of the Short Sale Agreement (SAA), Alternative Request for Approval of Short Sale, or DIL but only if the borrower documents they were required to relocate at least 100 miles from their home for purposes of employment and they have not purchased another property in the 90 day period.
-Got the first mortgage on the home before 2009
-Mortgage delinquent or default is reasonably foreseeable.
If the borrower is not delinquent then it must show that it could become delinquent soon like used up savings.
-Cannot be a luxury home.
Unpaid principal balance no more than $729,750 (higher limits for two- to four-unit dwellings)
-Borrower’s total monthly payment exceeds 31% of gross income
2ND STEP – SHORT SALE AGREEMENT
TIME FRAME: 14 DAYS – BORROWER HAS TO SIGN IT AND RETURN TO THE BANK OR SERVICER
The borrower has 14 calendar days from the date of the Short Sale Agreement (SSA) to sign and return it to the servicer. The SSA must give the borrower an initial period of 120 days to sell the house (servicers may extend up to a total of 12 months, if agreed to by the borrower).
3RD STEP – PURCHASE OFFER
TIME FRAME: 3 BUSINESS DAYS – BORROWER OR REALTOR MUST SUBMIT THE PURCHASE AGREEMENT AND THE COMPLETED REQUEST FOR APPROVAL OF SHORT SALE (RASS) TO THE BANK OR SERVICER.
Within 3 business days of receiving an executed purchase offer, the borrower (or agent) must submit a completed Request for Approval of Short Sale (RASS) to the servicer, including A copy of the sale contract and all addenda Buyer documentation of funds or pre-approval/commitment letter from a lender All information on the status of subordinate liens and/or negotiations with subordinate lien holders.
4TH STEP - SERVICER OR BANK APPROVAL
TIME FRAME: 10 BUSINESS DAYS – SERVICER HAS TO APPROVE OR DECLINE THE SHORT SALE
Within 10 business days after the servicer receives the RASS and all required attachments, the servicer must approve or deny the request and advise the borrower (with a statement of the reasons in the case of disapproval).
5TH STEP – CLOSING AND LIEN RELEASE
TIME FRAME: 45 DAYS OR SOONER DEPENDING ON THE BORROWER
The servicer may require the closing to take place within a reasonable period after it approves the RASS, but not sooner than 45 days from the date of the sales contract unless the borrower agrees. The servicer must follow local or state laws to time the release of its first mortgage lien. If local or state law does not require release within a specified time, the servicer must release its first mortgage lien within 30 days. Investors must waive rights to seek deficiency judgments and may not require a promissory note for any deficiency. Rules also apply to participating junior lien holders.
Many Lenders are already participating and have implemented the process even before today’s date. Over 100 lenders are participating and some of them are Bank of America, Citi Bank, Wellsfargo. The program reportedly covers servicers handling more than 90 percent of all mortgages.
Some homeowners who are behind mortgage payments have received notification thru mail of this new implementation.
Call me today to explain you more in detail how the process works.
VALUABLE LINKS WITH ADDITIONAL INFORMATION:
Participating Lenders
Understanding New HAFA Process and Eligibility Video
Wednesday, February 17, 2010 | Miami Home Value | Posted by Miami real estate agent
I am sharing today our Exclusive look at Brickell Condo Market Statistics covering only condos that closed in 2009.
I have selected only those condo towers that have sold more than 30 apartments during 2009. These are The Club at Brickell Bay, The Vue at Brickell, Jade Residences at Brickell Bay, Skyline at Brickell, Isola at Brickell Key and Brickell on the River North Tower. These charts and statistics will helps us measure how the real estate market is reacting to today’s trends of supply and demand, financing and other factors. This data has been obtained from the South East Florida MLS system.
Analyzing this chart we can see that the average sales price for these 6 buildings was $250,000 with the exception of Jade at Brickell Bay since its a Luxury Building and the average unit was sold for $621,886. Incredible bargains lure investors to purchase at Jade on Brickell Bay, considering that a few years ago a 1 bedroom unit on this building was going for half a million and was considered a low price. Today Jade continues to be one of the most favorite buildings in Brickell due to its location, amenities, unit size and finishes. Even though the amount of REO(s) has decreased tremendously at this building some bargains remain. Most of the time condos are sold above the asking price, supply vs demand makes this happen specially at Jade on Brickell were financing is almost not an option unless you go with a private lender.
On the other hand the average days on the market was 120 days, this is due to conditions on the market place, lack of financing and the vast inventory buyers have to choose from makes it a tough choice. Brickell has more than 70 towers and many are comparable on size, amenities and location..
Bank Owned sales dominated the marketplace in 2009 specially in Brickell were most of these condo buildings such as Brickell on the River, The Club at Brickell & Skyline at Brickell were built during the real estate boom. The Club at Brickell was one of the most affected during this year as well as Vue at Brickell which is a condo conversion. Units were sold and flipped also during this period. Short Sales also begin to emerge however due to lack of an efficient processing system by the lenders the vast majority ended up as a Foreclosure repossession leading to a REO inventory of over 50 units at The Club at Brickell Bay alone.Today’s this is not the case, REO are scarce in the region however foreclosures filing keep stacking up at the Miami Dade Court House.
Cash became king in Brickell, since banks released an incredible amount of foreclosure inventory to local real estate firms it was easier for buyers to purchase using their own Realtor. However it was frustrating for many when an offer was presented to the seller (in this case the Bank) and it was outbid by another cash offer sometimes even above the listed price. The idea of financing as convenient as it was before quickly became an obstacle to obtain such juicy discounts. Today the trend continues since lending guidelines and buyer requirements are very strict specially in condos. Nowdays REOs has decreased and short sales has taken its place, again a lender will be more favorable to cash purchases that financing, this is due to condo association delinquencies, rentals vs owner occupied percentage, absence of Mortgage Insurance coverage and default ratio that prevents Banks to lend in this type of properties considering it a high risk loan.
Come back to our blog in the future to get the latest information on Miami – Brickell Real Estate Market Trends, Statistics, Financing and much more. If you need a market evaluation on your property, contact us and we will meet and present it to you for Free no strings attached.
Tuesday, February 16, 2010 | Miami Home Value | Posted by Miami real estate agent
Here we will analyze where the market is heading in the area of Brickell for the last 90 days. Which will cover December 2009, January and February 2010. Brickell Area in Downtown Miami are covered by zip codes 33131, 33130 and 33129.
The “older” section of brickell covered by zip code 33129, it runs from the Key Bicayne Toll entrance to SW 13 Street
As we can see and analyzing this data and charts, as of the 2nd week of February 2010 the median price for condo/townhouse was around $349,000 in this area of the city of Miami. Due to the absence of new construction building in this area other than the Lofts at Brickell and Skyline on Brickell the rest of Condominium buildings were not built during the real estate boom of recent years. Even though we have seen a reduction of prices according to the chart its not significant compared to other nearby markets.
The Average days on the market of condo units its almost 1 year an average of about 241 days. This is mostly due to the financing restrictions in the condo market. Half of the property listings have come newly to the market in the past 168 days.
As you can see inventory in the area has been falling in recent months however this factor does means that the market is stronger, its an indication to consider. We would need to continue monitoring this trend whether buyers interest is changing with available supply or not. However days on the market contradicts the theory of fast recovery. see chart above.
Price per square feet remains steady at around $300.00 per square foot. Median size for a condo in this area is a 2 beds 2 baths with approximately 1,665 square feet. The percentage of properties with price decrease was 29% and percentage of re-listed properties was 8%.
Supply and Demand:
There is still a buyer’s market in this area with several months of inventory available at current sales pace so there are still great bargains for buyers who should expect to find plenty of inventory and price reductions.
Pricing Segments Activity
Analyzing price segments we can see that the lowered priced properties sold at around $175,000 with an average square feet of 881 however it took about the same days on the market to sell around 225 days compared to the upper tier properties above $400,000, its curious to see that properties that sold faster were in the $285,000 pricing range for an average of 1,060 square feet and less than 200 days on the market.
Data provided by Altos Research
Tags:
brickell condo values,
home values,
market trends,
miami,
statistics
Friday, February 5, 2010 | Miami Condo Neighborhood | Posted by Miami real estate agent
DOWNTOWN MIAMI PHONE DIRECTORY FOR CONDOMINIUM ASSOCIATION & MANAGEMENT OFFICE RESIDENTIAL REAL ESTATE
50 Biscayne Condominium Association & Management
50 Biscayne Blvd, Miami Florida 33132
Phone: 305.
Fax : 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
900 Biscayne Condominium Association & Management
900 Biscayne Blvd , Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Marina Blue Condominium Association & Management
888 Biscayne Blvd , Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Ten Museum Park Condominium Association & Management
1040 Biscayne Blvd , Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Marquis Condominium Association & Management
1100 Biscayne Blvd , Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Everglades on the Bay Condominium Association & Management
244 Biscayne Blvd , Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Loft Downtown I Condominium Association & Management
234 NE3rd Street, Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Loft Downtown II Condominium Association & Management
133 NE 2nd Avenue, Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Epic Miami Condominium Association & Management
300 Biscayne Blvd Way , Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
One Miami Condominium Association & Management
325 & 335 S. Biscayne Blvd , Miami. Florida 33132
Phone: 305.
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Quantum on the Bay Condominium Association & Management
1900 N Bayshore Dr, Miami. Florida 33132
Phone: 786.314.7459 – Front Desk
Phone: 786.314.7457 – Management Office
Web: www.quantumonthebay.org
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
1800 Club Condominium Association & Management
1900 N Bayshore Dr, Miami. Florida 33132
Phone: 786.314.7459 – Front Desk
Phone: 786.314.7457 – Management Office
Web: www.quantumonthebay.org
Condos For Sale – Floor Plans – Condo Review – Building Info & Map
Wednesday, February 3, 2010 | Miami Home Value | Posted by Miami real estate agent
Here is a snapshot of how the market is performing at Key Colony in Key Biscayne Florida. If you have any questions or suggestions, please contact us and we will help you with your particular need. Also we could provide you with a personalize market report for your property.
Tags:
key biscayne condo market value,
Key Biscayne Key Colony Condo,
key biscayne real estate market,
key biscayne sold condos
Wednesday, February 3, 2010 | Miami Home Value | Posted by Miami real estate agent
In this post i will discuss and explain the real estate market trends in Miami Florida, also brickell condo values, sold condos and homes, demand and supply, charts, average days on the market for condominium properties in Miami Florida specifically in the Brickell area of Miami Zip code 33131. For those who are not yet familiar with this area, let me introduce you to Brickell a Miami Neighborhood that belongs to the City of Miami and its not an independent city although many would agree it should be in the future since it looks quite different from the rest of the City. The upscale residential towers and office buildings makes it unique, also its proximity to Biscayne Bay, fine restaurants and shopping make is a class destination for executives and families.
Brickell Real Estate Market Trends Charts and Home Values Evaluation Report
The first Chart explains homes sold in January 2010 average sales price vs the original listed price as you can see the average discount between the original listed price and the sales price is 25.68%.
Contact us for a personal market trend analysis and home valuation for your property.
Tags:
brickell condo home value,
Brickell Market Trends,
brickell market watch,
brickell sold condos,
Miami Home Value
Saturday, January 30, 2010 | Miami Condo Neighborhood | Posted by Miami real estate agent
this photo is courtesy of brickell key master association
BRICKELL KEY CONDOMINIUM ASSOCIATIONS DIRECTORY
As promised here is a List of Condominium Homeowners Association and Management office Phone and Address Directoy for all residential buildings in Brickell Key Miami FL 33131 also known as Claughton Island or Brickell Island located south of Downtown Miami and just east of Brickell Avenue.
All condominium owners are required to pay their condominium association fee on a monthly basis and Brickell Key Island statutory maintenance fee which is paid quarterly this fee covers all common area maintenance and facilities within the island. For more information and details on rules, regulations, restrictions, tenants rights, pets restrictions for owners and tenants, minimum lease terms or property covenants on a particular building or condo tower, inquire using the phone numbers and addresses provided below:
BRICKELL KEY MASTER ASSOCIATION CONTACT INFORMATION
501 Brickell Key Drive, Suite 600 Miami, Florida 33131
Phone: 305.358.9892 Fax: 305.358.4339
BRICKELL KEY CONDOMINIUM ASSOCIATION AND MANAGEMENT OFFICE PHONE NUMBERS
Asia Condominium Association and Management
900 Brickell Key Drive, Miami. Florida 33131
Phone: 305.
Brickell Key One Condominium Association & Management
520 Brickell Key Drive, Miami. Florida 33131
Phone: 305.358.8080
Brickell Key Two Condominium Association & Management
540 Brickell Key Drive, Miami. Florida 33131
Phone: 305.381.7777
Carbonell Condominium Association Brickell Key – Homeowners Association and Management Office
901 Brickell Key Blvd, Miami. Florida 33131
Phone: 305.371.4242
Courts Condominium Association in Brickell Key – Homeowners Association and Management Office
801 Brickell Key Blvd, Miami, Florida 33131
Phone: 305.416.512
Courvoisier Courts Condominium Association in Brickell Key Homeowners Association and Management Office
701 Brickell Key Blvd, Miami. Florida 33131
Phone: 305.374.6966
Isola Condominium Association at Brickell Key – Homeowners Association and Management Office
770 Claughton Island Drive, Miami. Florida. 33131
Phone: 305.371.7007
One Tequesta Point Condominium Association – Homeowners Association and Management Office
888 Brickell Key Drive, Miami. Florida 33131
Phone: 305.358.8850
Two Tequesta Point Condominium Association – Homeowners Association and Management Office
808 Brickell Key Drive, Miami. Florida 33131
Phone: 305.755.9565
Three Tequesta Point Condominium Association – Homeowners Association and Management Office
848 Brickell Key Drive, Miami. Florida 33131
Phone: 305.373.2922
St Louis Condominium Association Brickell Key – Homeowners Association and Management Office
800 Claughton Island Drive, Miami. Florida 33131
Phone: 305.377.8250
BRICKELL AVENUE BUILDINGS CONDOMINIUM ASSOCIATION PHONE NUMBERS
Atlantis on Brickell Condo Association & Management Office
2025 Brickell Avenue Miami FL 33129
Phone: 305.285.1269
Avenue on Brickell Condo Association & Management Office
1060 Brickell Avenue Miami FL 33131
Phone: 305.379.7305
Bayshore Place Condo Association & Management Office
1420 S Bayshore Dr Miami FL 33131
Phone: 305.373.5987
Brickell Bay Club Condo Association & Management Office
2333 Brickell Avenue Miami FL 33129
Phone: 305.856-2255
Brickell Bay Tower Condo Association & Management Office
1408 SE Bayshore Dr Miami FL 33131
Phone: 305.373.2606
Brickell Biscayne Condo Association & Management Office
150 SE 25 Rd Miami FL 33129
Phone: 305.854.3303
Brickell East Condo Association & Management Office
150 SE 15 Rd Miami FL 33129
Phone: 305.358.7436
Brickell Forest Condo Association & Management Office
2410 Brickell Avenue Miami FL 33129
Phone: 305.856.8395
Brickell Harbour Condo Association & Management Office
200 SE 15 Rd Miami FL 33129
Phone: 305.854.6144
Brickell Mar Condo Association & Management Office
2201 Brickell Avenue Miami FL 33129
Phone: 305.285.4388
Brickell on the River North Tower Condo Association & Management Office
31 SE 5 ST Miami FL 33131
Phone: 305.358.5380
Brickell on the River South Tower Condo Association & Management Office
41 SE 5 ST Miami FL 33131
Phone: 305.579.50044
Brickell Park Condo Association & Management Office
2501 Brickell Avenue Miami FL 33129
Phone: 305.858.7550
Brickell Place Tower A Condo Association & Management Office
1865 Brickell Ave, Miami FL 33129
Phone: 305.854.5343
Brickell Place Tower B Condo Association & Management Office
1901 Brickell Ave, Miami FL 33129
Phone: 305.854.5343
Brickell Place Tower C Condo Association & Management Office
1915 Brickell Ave, Miami FL 33129
Phone: 305.858.3891
Brickell Place Tower D Condo Association & Management Office
1925 Brickell Ave, Miami FL 33129
Phone: 305.858.3891
Brickell Shores Condo Association & Management Office
1440 Brickell Ave, Miami FL 33131
Phone: 305.358.2876
Brickell Townhouse Condo Association & Management Office
2451 Brickell Ave, Miami FL 33129
Phone: 305.854.1152
Bristol Tower Condo Association & Management Office
2127 Brickell Ave, Miami FL 33129
Phone: 305.856.7670
Commodore Bay Condo Association & Management Office
1402 S Bayshore Dr Miami FL 33131
Phone: 305.377.1671
Costa Bella Condo Association & Management Office
1450 S Bayshore Dr Miami FL 33131
Phone: 305.373.3100
Emerald on Brickell Condo Association & Management Office
218 SE 14 ST Miami FL 33131
Phone: 305.416.6065
Espiritu Santo Condo Residences at Conrad Hotel Condo Association & Management Office
1395 Brickell Avenue Miami FL 33131
Phone: 305.503.6500
Fortune House Miami Condo Association & Management Office
185 SE 14 Te Miami FL 33131
Phone: 305.374.5959
Four Seasons Miami Condo Hotel Residences Condo Association & Management Office
1435 Brickell Avenue Miami FL 33131
Phone: 305.381.8050
Imperial Brickell Condo Association & Management Office
1627 Brickell Avenue Miami FL 33131
Phone: 305.854.4140
Jade Residences at Brickell Bay Condo Association & Management Office
1331 Brickell Avenue Miami FL 33131
Phone: 305.533.1945
Latitude on the River Condo Association & Management Office
185 SW 7 St Miami FL 33130
Phone: 786.364.3685
Lofts on Brickell Condo Association & Management Office
1650 Brickell Avenue Miami FL 33129 & 1528 Brickell Avenue Miami FL 33129
Phone: 305.285.1016
Metropolitan Brickell Condo Association & Management Office
2475 Brickell Avenue Miami FL 33129
Phone: 305.860.2880
Neo Vertika Condo Association & Management Office
690 SW 1 CT Miami FL 33130
Phone: 786.623.2250
Plaza on Brickell North Tower Condo Association & Management Office
851 Brickell Bay Dr Miami FL 33131
Phone: 786.220.5959
Plaza on Brickell South Tower Condo Association & Management Office
951 Brickell Ave Miami FL 33131
Phone: 786.220.5949
Sail on Brickell Condo Association & Management Office
170 SE 14 ST Miami FL 33131
Phone: 305.374.8114
Santa Maria Condo Association & Management Office
1643 Brickell Ave Miami FL 33129
Phone: 305.860.6500
Skyline on Brickell Condo Association & Management Office
2101 Brickell Ave Miami FL 33129
Phone: 305.854.4858
Solaris Brickell Condo Association & Management Office
186 SE 12 Te Miami FL 33131
Phone: 305.373.0012
The Club at Brickell Bay Condo Association & Management Office
1200 Brickell Bay Dr Miami FL 33131
Phone: 305.503.2400
The Mark Condo Association & Management Office
1155 Brickell Bay Dr Miami FL 33131
Phone: 305.373.0661
The Palace Condo Association & Management Office
1541 Brickell Ave Miami FL 33129
Phone: 305.858.8400
Villa Regina Condo Association & Management Office
1581 Brickell Ave Miami FL 33129
Phone: 305.858.1581
Vue at Brickell Condo Association & Management Office
1581 Brickell Ave Miami FL 33129
Phone: 305.381.9645
About Brickell Key Master Association
The Brickell Key Master Association (BKMA) was created in 1980 to perform any of the property management services for the island’s common properties that are not covered by the individual properties. The Brickell Key Master Association provides maintenance and patrol services to those common properties, which include the baywalk and linear park surrounding the island, the island roadways, the seawall and all common area landscaping. In addition, the BKMA is charged with the implementation and upkeep of certain special projects and the island amenities, which presently include the entry information center, including the smart-pass system, the village green, the children’s playground, the temporary tennis courts and the decorative components of the Brickell Key bridge. Some island amenities may change over time as further development occurs. Special projects, which also may change over time at the direction of the BKMA Board of Directors, include this website, recent installation of front gate video cameras and the annual Brickell Key Day street fair.
Operations of the Brickell Key Master Association are jointly funded by assessments of the individual properties on a prorata basis and overseen by a Board of Directors. Island master developer Swire Properties also participates on the Board and has a controlling vote until such time as island development is complete. An annual budget and audit process overseen by the Board of Directors helps ensure the individual member properties that BKMA dues are properly expended and accounted for.
Association Management and Staff
Serving at the direction of the BKMA Board, a small operations staff oversees all property maintenance obligations of the BKMA, including services presently provided by third party vendors, including landscaping, security, roadwork, pest control, collections and accounting. The BKMA General Manager is supported by bookkeeping personnel in the office and maintenance personnel and a safety officer in the field.
The Association is under the management of GM Danny Ponce. Please feel free to contact our office at 305/358-9892. Please report any safety-related issues to the information center at 305-577-0651.
Mission Statement
The Brickell Key Master Association is exclusively devoted to maintaining the common properties of the island to the highest possible standards. Service to and safety of Brickell Key’s residents and businesses is the first priority of the Brickell Key Master Association, which is committed to the most responsive communications to and among its members. At all times the Brickell Key Master Association will devote its efforts to the best possible technical, financial and esthetic upkeep of the island
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Wednesday, January 20, 2010 | Miami Short Sales | Posted by Miami real estate agent
U.S. Treasury Department is trying to speed up the Short Sale Process by requiring lenders to respond to offers within 10 days. This will be ideal not only for Homeowners in Miami but also in the entire Nation it will also help Miami’s First time home buyers in getting a quick response to their offers right before the end of the Tax Credit Deadline.
The Treasury Department’s plan must be implemented by April 5. The rules apply to the 83 loan services participating in the Obama administration’s Home Affordable Modification Program. Such Banks Those include Bank of America and JPMorgan Chase.
The new ruling seems too good to be true that’s why most of the Lenders are Not happy with the 10 day response deadline that Department is proposing. Lenders believe its not feasible at all not to mention a deadline impossible to be met. Most lenders claim that they are only servicing the loan and that they are not the ones that make the final decision instead they depend on their investor (the entity who purchase the loan) to make a decision.
Buyers are tired of waiting and canceling contracts after 4 or even 6 months has passed by to find out at the end that the Lender rejected or counter offered for a higher price. Buyer’s confidence in short sales is lacking due to the inefficient way Lender’s process short sales files. A standardized process have been in the talks lately and now with this new ruling is a fact that something must be done. In my opinion sellers and buyers benefit from a fast speedy process, and not only them, condominium association, local governments by recouping their past dues.
I am not quite sure if it at the end the ruling will be 10 or 30 days like but the reality is that we need something done fast, buyers have great opportunity to purchase incredible homes at affordable prices a phenomenon not seen in years this is a historic moment, this is the moment to jump into buying short sales and not to allow the same home to go to the courthouse’s auction and end in the investor’s hands to flip it. First time home buyers the new generation, recently graduated college students or simply the middle class has an opportunity of a lifetime. Let’s work together to make it happen please Lenders don’t spoil the moment when it was your industry who allowed bad loans to mess it up in the first place.
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