The condo developers have recently managed to boost their marketing approach in an attempt to further attract real estate buyers from foreign countries.

With more than 70% of their properties sold – consisting mostly of one-bedroom and four-bedroom homes – the developers, Africa-Israel USA, are left with two bedroom and three bedroom condos to sell to interested buyers starting at £370,000 which is approximately $593,887.

Because of the global recession taking place, and with the US dollar weakening, the condo sales took a big setback and most developers are still trying to bounce back from a series of financial crises. Foreign buyers on the other hand have taken advantage of the affordable home properties and the good exchange rate from their currency to US Dollars, which have led the developers to take a big gain against its competitors.

With purchases coming from various countries including China, Singapore, Iran, Africa, Venezuela, Ecuador, Columbia, Mexico, Turkey, Spain, Greece and UK, it has been made apparent that having real estate contacts from European countries and South America proves to be a substantial component to condo developers’ success.

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Marquis Biscayne Corridor Condos

Real estate experts voice out their comment regarding the sudden improvement in the local real estate market; establishing the improvement due to the recent price drop of many real estate properties, especially condominiums, in the South Florida real estate market, as well as the popularity of the location to foreign investors.

Figures show that Miami condominiums define a major percentage in the pending home sales growth this year – 37% increase compared to last year’s data, and a positive 3.3% since last month. Single family homes also show an increase of 1.4 percent compared to data from December 2010.

Housing inventory in the South Florida real estate market continues to drop as pending home sales and closings continue to rise. Real estate experts believe that the continuous drop in home inventory may speed up the recovery of the local housing market – bringing prices to its normal value as compared to the major price drop suffered by the local market since the economic crisis that hit the US a few years back. An 8% housing inventory drop is seen since the start of 2011, which brings to a total of 47% since 2008.

There was a slight increase in housing acquisition, mostly local homebuyers in the early months of 2010 due to the extension of the $8,000 tax credit issued by the government. The slight increase in housing demand went down again afterwards. However, real estate market experts are still enthusiastic on the US housing recovery as borrowing costs and home prices are lowered to entice more buyers.

The sudden drop in housing prices also attracted the interest of foreign buyers to take advantage of the economic depression to acquire more residential properties. Foreign investors are on the look-out for distressed and foreclosed properties that are cheaper, especially in popular locations, like Miami Beach and South Beach in Florida.

Though many see the 3.9 percent increase in housing development as a recovery, there are others that still maintain a neutral stance in the market’s future. Experts all agree that the high number of foreclosure and the unemployed status of many US residents might cripple the recovery process – taking years instead of months before the housing figures are deemed safe.

In conclusion, the US housing market’s recovery is indeed slow but the figures are far better compared to the last two years. experts are looking forward to the possibility of further recovery of the local real estate market this coming 2011 though many predict that the most significant change would be visible in 2012.

Foreign investors are looking into the acquisition by delving into the local foreclosure market with home prices ranging from $50,000 to $100,000, especially in areas like Miami Beach and South Beach.

Experts believe that the contribution of foreign investors put a stop to the further depression in the Florida real estate market. As the number of unemployed and property foreclosure rise, foreign money is helping Florida from dropping off the economic scale.

Florida real estate market snapshot shows that the average price of residential properties in the state ranges from $60,000 to $130,000. Local real estate firms are seeing a large influx of buyers as prices continue to hold steady – giving investors hope that 2011 will still continue to bring in more buyers to help stabilize the local market.  Miami Foreclosures Listings

The $11.5 million home was sold in December 8, 2010 with the buyer’s name not disclosed to the press. The original price set by Rony Seikaly was $15 million but settled for the closing price as negotiated by the buyer.

North Bay Road has seen its fair share of celebrities as they purchased their own residences in the area, though some of them are selling out their extravagant properties to worthy buyers. Experts all agree that the neighborhood is seeing an increase in real estate recovery compared to other popular areas in South Florida. Both upscale and average neighborhood promise more transactions in the near future.

Sarasota became the spotlight of the major improved sales in the Florida real estate market with the $44.7 million sales of the Sarasota Pavilion Shopping Center. Though many contribute the sudden increase in real estate sales in 2010 to residential properties, major points is still accountable to the commercial properties being sold to both local and foreign investors in various cities in Florida real estate.

Aside from Sarasota, Miami-Dade County also boasts a sales increase of 21 percent, followed by 20 percent of Palm Beach County but dwarfed in majority of Broward County’s 32 percent.

The 3-story mansion has 6 bedrooms and 8 bathrooms within its 12,178 square foot lot. One of the best features of the mansion is that every room has a comfortable ambience overlooking the bay. Aside from the luxurious rooms, the mansion includes a 3-car garage, home theater, a library, and a separate guest house along the estate grounds.

The grounds also sport an extensive range of facilities that is perfect for the Miami Heat superstar. An Infinity pool and bar compliments the tropical climate and dock that can easily moor 2 full-size yachts.

The asking price of $2 million has a bonus – Shawn Marion promised a roundtrip jet service for the coming Super Bowl this February 6, 2011 at the Cowboy Stadium in Arlington, Texas. This trip also entails giving the buyer a chance to visit his new townhome in the area.

Shawn Marion’s townhouse was built in 2008 in a waterfront community located in Cloisters on the Bay. The 7,373 square foot property is comprised of 8 bedrooms and 8 bathrooms. The 2,300 square foot rooftop is a great addition to the entire townhouse repertoire as it is equipped with an outdoor hot tub, barbeque grills, pool, and spa.