Condo.com Blog

Open House Sundays at Astoria

Fri, 21 Nov 2008 22:02:49 GMT

The Astoria at the Aramore now offers Sunday Open Houses. Every Sunday, the luxury condos in Buckhead will host an open house from 1:30 p.m. to 4:30 p.m. where they will offer tea and coffee for interested homebuyers.

Get More information on the Astoria at The Art of Opportunity

Exit Realty of Beaufort holds Successful Training

Fri, 21 Nov 2008 20:20:06 GMT

Greg Bennett of Exit Realty of Beaufort brings a Successful Blogging Seminar

Exit Realty of Beaufort, led by Shelia and Greg Bennett, held a Real Estate Blogging Strategy Training Seminar Thursday November 21^st with a strong participation of their Real Estate Agents… The session, led by Key Yessaad, focused on the necessity of Beaufort Realtors to find a direct path of connection with their Buyers and Sellers in the Greater Beaufort area and how Blogging opens that path organically.

The 4-hour training seminar was well received and well attended by Shelia Bennett, Greg Bennett, Jeanne Swain, Gayle Keeling, Lisa Brown, Janice Baker, Tony Hagwood, Richard Neill, Perry Allmond, Kathy Baker, Mary Strick, Kathy Moses, Melissa Evans, and David Thompson.

The demanding course did challenge the Realtors on their preconceived notions of what blogging is, and ended with a commitment of the Beaufort Agents to a plan of action that will be submitted to their Broker in Charge Mr. Greg Bennett. Exit Realty of Beaufort is now on track to add a valuable tool to benefit all their customers in the Beaufort SC Real Estate Market.

Some of what a few of the agent had to say:

From David Thompson: “I want everyone who is serious about optimizing their time and energy put into their Online Presence to see Key! After an exciting class in Beaufort, SC today I am so much farther ahead in just a few hours than I got in 3 years. Key, your commitment to personal development for Realtors is much appreciated. Thank you for adding tools to my tool belt and for helping me, help others successfully invest in real estate! I can't wait for your web strategy class. Consider this my reservation!”

From Melissa Evans: “Thank you Key for a very informative morning. It was 4 hours well spent. Your style is "over the top" with energy and enthusiasm for your subject. I learned a lot of real specifics so that I can now improve my internet presence. Thank you very much and I will forward my first 2 blogs for your review. Best regards,”

From Jeanne Swain: “I enjoyed your class tremendously yesterday. Thank you so much for making the trip for us.”

Learn more about the course here: Real Estate Blogging Strategy.

Web Link: Beaufort SC Blogging Training
WordPress Web Log: Exit Realty Beaufort Training
Zolve Blog: Beaufort Real Estate Blogging Training
Activerain Post: Beaufort Successful Real Estate Training
Zimbio Blog: Greg Bennett holds Training for Agents
Trulia Blog: Beaufort SC Blogging Seminar

About the Trainer: Key Yessaad – Real Estate Web Trainer. To train, inspire, and help Real Estate Professionals succeed is my passion. I have a niche area of expertise which is the combination of Real Estate Web Strategy, Consulting, and Systems Implementation... Inquire about the various Training Classes and Seminars by contacting Key at (910) 538-6610.

Miami Developers Sell Out 19 New Condo Towers, 64 More Projects To Go

Fri, 21 Nov 2008 14:18:17 GMT

Developers have successfully sold out 19 new condominium towers with 3,085 units in the Greater Downtown Miami area since 2003, according to a new report from Condo Vultures® LLC.

Units in the sold out buildings closed at an average price of $424,923 and generated a total of $1.3 billion in completed transactions, according to the Bal Harbour, Fla-based consultancy that produced the report.

The early developer success leaves 64 new towers and projects with a combined 19,652 units under construction or in the process of closing, according to Condo Vultures® Official Condo Buyers Guide To Miami™.

Condo Vultures® is scheduled to publish an in-depth report on the closing ratios of the Greater Downtown Miami condo market during the week of Nov. 24, 2008. To receive a copy, please be sure to subscribe to the Condo Vultures® Market Intelligence Report™.

Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ .

Copyright © 2008, Condo Vultures® LLC

Private/Business Funding...We can assist

Fri, 21 Nov 2008 12:17:02 GMT

CAPITAL INVESTMENT LLC.
Private Investor
ACN 117 165 661
Address: Bridge House,
15 Dowgate hill, London bc2 4ec.
United Kingdom.
Phone: +44 702 401 2999

We are a large brokerage investment firm base in United Kingdom, which facilitates loans for international clients, our primary objectives is to support the individual with long and short term loan offer and also to finance the group of companies and private sectors with our legitimately earned fund {Loan}. We can offer you a good, cleared, unencumbered and legitimately earned fund of non-criminal origin.

Our Loan facilities can be use to finance a Real Estate construction project or any signatory projects. Our interests are lower than your local lender. Get in touch with us to secure loan to enhance your projects. Our interests are lower than your local lenders, and our conditions are easier to meet. Depending on your compliance to make available the requirements, your funds could be transferred to your resident account within 7 working days you open a communication line with us. Listed below are the other particular areas which we also experienced in:
* Personal Loans (Secure and Unsecured)
* Business Loans (Secure and Unsecured)
* Undergraduate Loans
* Graduate Loans
* MBA Education Loans
* Medical Education Loans
* Legal Education Loans
* Study Abroad Loans
* Consolidation Loan
* Combination Loan

We have mediators which are trained in closing deals promptly, Leaving a client acquisition rate well beyond the general competition. If you are looking for any investment papers, kindly contact us at your convenient time.

Best Regards,
Owen Floyd
iconcustomerserv@gmail.com
+447024012999

Private/Business Funding...We can assist

Fri, 21 Nov 2008 11:59:24 GMT

CAPITAL INVESTMENT LLC.
Private Investor
ACN 117 165 661
Address: Bridge House,
15 Dowgate hill, London bc2 4ec.
United Kingdom.
Phone: +44 702 401 2999

Best Regards,
Owen Floyd
iconcustomerserv@gmail.com
+447024012999

Private/Business Funding...We Can Assist (get funded)

Fri, 21 Nov 2008 10:09:44 GMT

CAPITAL INVESTMENT LLC.
Private Investor
ACN 117 165 661
Address: Bridge House,
15 Dowgate hill, London bc2 4ec.
United Kingdom.
Phone: +44 702 401 2999

Best Regards,
Owen Floyd
iconcustomerserv@gmail.com
+447024012999

James Island Annual Holiday Festival Lights

Thu, 20 Nov 2008 20:15:44 GMT

Charleston Area Holiday Festival of Lights brings magic to young and old!

A must see holiday event for the entire family. Come see a light display that numbers in the millions along a 3 mile auto tour. Train rides, sand castles, carousel, enchanted Forrest, marsh mellow roasting, fire pit, climbing wall and Santa’s Attic –the best gift shop on the entire eastern seaboard.

Don’t forget to enter your best creation for the Gingerbread house competition. While there, take notice of a very special light display sponsored by me, Jay Tracey. Remember The Old Lady in the Shoe?

Do you like dinosaurs? How about Sea Horses? There are over 600 light displays, each one part of a fun, fun theme!

For additional information on the James Island Holiday Festival of Lights, click here.

Exit Realty The Tracey Group will be offering 10 free car load passes to this special event to whoever can email Jay the answer to this age old question: What did the old lady in the shoe feed her children before sending them to bed?

For More information on Charleston Real Estate contact Jay Tracey Broker/Owner of Exit Realty The Tracey Group.

Video Interview - The Value of Social Media and PP.com

Thu, 20 Nov 2008 18:46:27 GMT

Jeff Harris of PropertyPreviews.com gives a brief overview of PropertyPreviews.com, and chats about the value of using social media on the Web to market real estate. The video was published by Joe Zekas on NewHomeNotebook.ning.com

Check out the video here

PropertyPreviews.com

Blog.PropertyPreviews.com

--Scott from PP.com

Regatta // Miami Beach, Florida // Indian Creek // North Beach

Thu, 20 Nov 2008 16:21:50 GMT

Regatta Miami Beach is one of the newest waterfront boutique buildings in North Beach. Regatta is just what one would imagine! See the pictures of this new addition to North Beach. North Beach is a small stretch of real estate that hugs the Atlantic Ocean and Indian Creek- between 63rd Street and 87th Street. Just to the North of North Beach is The Town of Surfside and just due south is Miami Beach proper.

REGATTA • NORTH BEACH • MIAMI BEACH

Regatta Condominium is located at 6580 Indian Creek Drive in North Beach. Prices start at $225,000.00 for 600 square foot studios and exceed $600,000.00 for 1,200 square foot 2 bedroom 2 bath units.

Regatta offers European kitchens, imported hardware, and a very modern, nautical flair.

CLICK FOR ALL REGATTA UNITS AVAILABLE TODAY

Mott Marvin Kornicki, Associate/Realtor^®

• Aventura • Bal Harbour • Bay Harbor Islands • Fisher Island • Golden Beach • Hallandale Beach •

• Hollywood Beach • Miami • Miami Beach • South Beach • Sunny Isles Beach • The Waterways • Williams Island •

SIB Realty, LLC • 18206 Collins Avenue • Sunny Isles Beach, Florida 33160

305-767-2121 CALL US TODAY! 305-935-3533

Florida’s Largest Bank Posts $261.6 Million Quarterly Loss

Wed, 19 Nov 2008 22:27:03 GMT

BankUnited, the largest bank headquartered in Florida based on assets of $14.2 billion, lost $261.6 million in the fourth fiscal quarter ending Sept. 30, putting the thrift in “dire financial straits,” according to the South Florida Business Journal.

The fourth quarter loss, due in large part to nonperforming mortgages, dragged BankUnited’s equity capital down by 24 percent to $816.9 million from $1.08 billion at the end of the second quarter on June 30, according to the article.

BankUnited’s decreasing equity capital comes at a time when the Coral Gables-based institution is attempting to raise $400 as required by regulators under a September cease and desist, according to the article.

“If the bank can’t raise more money or shrink its risk-based assets by a Dec. 31 federally imposed deadline, it could face additional action from federal regulators,” according to the article.

Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ .

Copyright © 2008, Condo Vultures® LLC

Extra Cash

Wed, 19 Nov 2008 22:03:19 GMT

Retirement budgets

Many people built their retirement budgets based on income and economic conditions prior to today’s challenging environment. The easiest and most cost-effective way to find additional dollars is often by updating an outdated budget. You need to view how your budget performs and how other income sources such as stock dividends could impact retirement savings.

Reverse mortgage

Many citizens have spent a lifetime building up equity in their homes. Through a reverse mortgage, those 62 years or older can now extract that equity. A reverse mortgage requires only that an individual own the home as a primary residence and maintain the property. No credit evaluation is required. As a non-recourse loan, borrowers will never owe more than the current market value of their home, helping to protect their heirs from debt.

Life settlement

Most life insurance policies are originally purchased to protect families and loved ones, but nearly 85 percent of these policies never pay a benefit. Life settlement allows a policyholder to sell their policy in exchange for a lump sum cash payment that is greater than the policy’s cash surrender value. Life settlement offers a way to generate cash independently.

Social Security

If you are collecting Social Security benefits but still in need of extra cash, is to cancel current benefits and then re-apply for greater benefits at a higher age. Since benefits are calculated based on age, someone who restarts benefits later in life could earn much more in monthly income. However, recipients must first pay back benefits received in order to be eligible.

Visit anytime www.brendakingrealtor.com

Trump Towers /// Building Key Plan /// Floor Plans

Wed, 19 Nov 2008 21:35:25 GMT

TRUMP TOWERS MIAMI • FLOOR PLANS • BUILDING KEY PLAN

The Trump Towers project has brought together a veritable "who's who" of real estate development to assemble a cast of power players who will deliver to you one of the finest, most elegant oceanfront residences in Florida.

The Trump Towers world-class development team is headed by the prestigious Miami architectural firm of Sieger Suarez, responsible for such highly regarded projects as Ocean I, II and III in Sunny Isles Beach, the Murano, Murano Grande, and Icon in South Beach, as well as Ocean IV in Sunny Isles Beach, developed in association with the Dezer family. Every project has earned them a stellar reputation for style and luxury, with stringent standards that have consistently lifted the bar in residential living. This high profile team has left nothing to chance; only the finest in construction materials have been procured to craft a building that exudes quality and excellence throughout.

Every inch of the property's impeccable design has been meticulously devised to cater to the most discriminating tastes of a select buyer. An individual who is appreciative of those extra touches of luxury like - stunning floor-to-ceiling windows opening out to over-sized balconies with smooth glass and aluminum railings, elegant porte-cochere entrances providing 24/7 full valet services and an exquisitely appointed three-story lobby, as well as a convenient and secure three-story parking garage. The dramatic Trump signature 10 to 11-foot ceilings (depending on the unit selected) and spacious 8-foor doors are standard in each of the deluxe units that also boast gourmet kitchens and luxurious bathrooms featuring the highest quality Italian cabinetry, deluxe granite and marble countertops, Miele and Sub-zero appliances, designer fixtures and cutting-edge telecommunications capability. To further pamper owners, Trump Towers also offers 'around-the-clock' professional concierge and security services, along with an accessible receiving area with mail and package facilities.

Outdoors, lush tropical landscaping adorns the opulent oceanfront terrace leading to a lavish heated swimming pool and spa, complete with a state-of-the-art health club and refreshing poolside bar. All interior spaces including the distinctive lobby and the fitness facilities have been left in the innovative and masterful hands of the Hirsch Bedner Associates firm, pioneers in hospitality interior design, with such masterpieces to their name the sophisticated St. Regis Grande Hotel in Rome. A 250-foot stretch of secluded, silky-smooth beachfront dotted with convenient personal cabanas designed for relaxation completes this idyllic setting.

Strategically situated against the backdrop of the breathtaking Atlantic Ocean and flanked by Miami's Intracoastal Waterway, the Trump Towers soar 45 stories tall enclosing 271 stunning units. South Florida's newest address for Trump luxury is indeed 16001 Collins Avenue. Trump Towers, a property to be admired from below and enjoyed from the top...and, for the privileged few, a place to call home.

TRUMP TOWERS MIAMI • FLOOR PLANS • BUILDING KEY PLAN

Mott Marvin Kornicki, Associate/Realtor^® • Aventura • Bal Harbour • Bay Harbor Islands • Fisher Island • Golden Beach • Hallandale Beach • • Hollywood Beach • Miami • Miami Beach • South Beach • Sunny Isles Beach • The Waterways • Williams Island • SIB Realty, LLC • 18206 Collins Avenue • Sunny Isles Beach, Florida 33160

786-229-7999 CALL US TODAY! 305-935-3533
OUR BLOG | PROPERTY SEARCH | VISIT OUR SITE | CONTACT US

Goose Creek, Hanahan, and the rest of Berkeley County Home Values should benefit from Managed Growth in Neighboring Dorchester County

Wed, 19 Nov 2008 19:18:59 GMT

Home values in Goose Creek, Hanahan, and the rest of Berkeley county should rise as neighboring Dorchester County finally has plan to manage growth. This plan will help manage the amount of new construction and prevent over building that will prevent flooding the market with news which will lower home values in Dorchester County and neighboring Berkeley County.

Plan to manage growth in place

The Post and Courier Tuesday, November 18, 2008 - SUMMERVILLE — A plan to manage growth in Dorchester County is finally in place, after months of hearings, debates and compromises.

Council unanimously voted Monday to approve a new comprehensive plan, which will guide what gets built in the county over the next two decades.

Hallelujah!" Council Chairman Larry Hargett exclaimed as the audience applauded after the vote.

Dorchester has been the state's fastest-growing county the last several years. Growth here affects the entire Charleston area, as the majority of residents drive toward Charleston for work.

Residents around Summerville and North Charleston, frustrated by overcrowded roads and schools, have been calling for more controls on development. The new plan includes a section that says the county can't approve a new development if roads and schools can't handle it and directs council to consult with the school district before approval.

Conservationists were worried about thousands of acres of unprotected farmland and timberland west of Summerville. The new plan designates wide swaths of land as rural. Development will be clustered near existing nodes, rather than spread throughout the county.

To read the rest of this article click here: http://www.charleston.net/news/2008/nov/18/plan_manage_growth_place62032/

For more information on Home Values in Goose Creek, SC and Surrounding Areas contact Matt Naumann.

Web Link: Goose Creek News

Asia Miami Condo

Wed, 19 Nov 2008 03:53:14 GMT

Asia Condo Brickell Key Home Page

The Asia condominium is a residential skyscraper in the Brickell Key district of Downtown Miami, Florida.

The Asia tower rises 483 feet (147 meters), with 36 floors. Asia was topped out in mid-2007, and was completed structurally in January 2008. It is currently the 20th-tallest building in Miami.

Asia Condo Address: 900 Brickell Key Drive, Miami. Fl 33131

Asia Condominium Brickell Key Developer: Swire Properties

Architect: J. Scott Architecture

Asia Miami description: Luxury Condos

Type: Condominium

Units: 123

Floors: 33 (12' ceilings per floor) appears as over 40 floors

Number of Bedrooms: 2, 3 & 4

Unit Sq. Ft. Range: 1,662 - 5,539

Asia Price Range: $1,250,00 to $3,000,000

Amenities: Five private passenger elevators on each floors,

Pool, fitness center, high-speed internet, 24-hour security.

Estimated Project Cost: $140 Million

Construction Date: Spring 2005

Completion Date: Beginning 2008

The Asia condominium at Brickell Key residences are a mix of palatial-sized two, three and four bedrooms, with typical floors containing just three or five apartments. The smallest two bedroom flat, at 1,600 square feet. Asia at Brickell Key prices range up to $6 million, reflective of the private island location with shops and other high-end Miami condos, dining, art-accented bay walk, and hotel Mandarin Oriental, Miami.

Brickell on the River

Wed, 19 Nov 2008 03:50:05 GMT

Brickell on the River Condo

Brickell on the River Developer: Groupe Pacific International
Architect: Cohen Freedman Encinosa & Associates
Description: Residential and retail development.
Type: Condominium
Units Phase 1: 390
Units Phase 2: 322
Floors Phase 1: 43 (North Tower) Phase 2: 46 (South Tower)
Number of Bedrooms: 1, 2 & 3
Unit Sq. Ft. Range: 757 - 1,512
Price Range: $310,000 - $ 650,000
Amenities: Pool, tennis court, five level fitness center, spa, high-speed internet, garage and 24-hour security.
Estimated Project Cost for Brickell on the River: $200 Mill
Construction Date: Summer 2003
Completion Date: Winter 2005

Brickell Key Courts Condo

Wed, 19 Nov 2008 03:48:18 GMT

The Courts Condo year Built: 2002

Courts Condo Home Page

Number of Floors: 33, 12 Residences per floor / Standard Floor
Number of units: 319
Sq. Ft. range: 863 - 2,701
Beds: 1-3, Baths: 1-3
Amenities: - Concierge - Valet
and Covered Parking - Pool - Gym
Spa - Racquetball and Squash
24- Security - Social Room

Courts Brickell Key is an elegant oasis in the heart of the city, overlooking the beautiful waters of the bay, where residences resonate sheer spaciousness and gleam with luxurious finishes. Courts at Brickell Key, built in 2002 is a 34 story building with 319 total condos located on Brickell Key, one of Miami’s most prestigious properties. Courts at Brickell Key Condo offers the best in luxury, views and location within the exclusive Brickell Key Island.

Conrad Brickell Avenue

Wed, 19 Nov 2008 03:47:18 GMT

Conrad Espirito Santo Mayfield Condominium address
1395 Brickell Ave, Miami, Fl. 33131

CONRAD ESPIRITO SANTO BRICKELL CONDO HOME PAGE

Espirito Santo Brickell Condo Site Plan

Espirito Santo Brickell

Wed, 19 Nov 2008 03:45:20 GMT

Espirito Santo Mayfield Brickell Condo

Espirito Santo Plaza on Brickell

Espirito Santo Plaza is a sparkling 36-story glass tower with an attached 12-story parking garage and 300,000 square feet of class “A” office space. The Conrad Miami — Hilton Hotel’s luxury brand — features ballroom and meeting facilities and specialty retail/restaurant space. The top floors of the property consist of a fully equipped health club and luxury condominium residences overlooking the soaring 11 story atrium. Located on a full city block fronting at 1395 Brickell Avenue, in the heart of Miami’s international financial market, Espirito Santo Plaza’s main tower occupies a forward position on the site. With its simple, elegant lines and sculptured exterior, the building welcomes visitors with a dramatic 36 story concave figural arch, beautifully symbolizing the gateway to Latin America.

Brickell Avenue Miami

Wed, 19 Nov 2008 03:44:10 GMT

Brickell Avenue Condos Home Page

Brickell Avenue is the financial gateway to South America and the Brickell Avenue condominiums that have been added in recent years to the Miami skyline are located in the heart of this financial district. Formally known as “millionaires row”, businessmen and entrepreneurs worldwide choose condos along Brickell Avenue and Brickell Key as their South Florida headquarters. Minutes from downtown, a condo on Brickell has exquisite, panoramic views of Miami Beach, Coconut Grove, Key Biscayne, and the downtown skyline. With so many condos for sale and more becoming available everyday, the professional at Avant Realty International can assist you in finding a condominium in this exclusive district that is perfect for your needs. There is plenty of entertainment and dining in the areas surrounding the condominiums on Brickell. Bayside Marketplace with shopping, concerts, food and fun is literally down the street. Connected to Bayside is the American Airlines Arena, which is the home of the Miami Heat, concerts, and special events.
Ten minutes east of your Brickell Condo, you can have dinner at the famous Joes Stone Crabs on South Beach, and ten minutes south is Coconut Grove with all the fun and culture that it has to offer. Miami International Airport is not far and the Sunny Beaches of Key Biscayne and its annual ATP tennis tournament are just over the bridge. Many condos on Brickell Avenue are also for rent. Condo owners who keep their Brickell Avenue residence as a second or third home are constantly placing their units on the rental market and the rental department at Avant Realty International has the knowledge of which units are available and when. Whether you are looking for a long-term or short-term lease, our expert staff has developed personal relationships with many of the Brickell Avenue condo owners and managers and will work to find the rental unit that fits your business or social needs.
If you are currently a Brickell Avenue condo owner and wish to sell or lease your condominium, please allow one of our condo specialists assist you. Condos on Brickell Avenue are perfect for business people and their families. Safety is a priority and people can feel secure as they walk, jog, and enjoy the outdoors that the Brickell area offers. There is easy access to The Metro-Mover and Metro-Rail and when the family is ready for a vacation, The Port of Miami, a mere ten-minutes away, is where the cruise ships depart. With all of the convenience and luxury that Brickell Avenue condominiums have to offer, it is no wonder that so many international business people choose this exclusive locale as their South Florida residence.
For more information please click here:
Brickell Key and Brickell Avenue

Condo Market Deterioration Shows Signs of Slowing, Says NAR

Wed, 19 Nov 2008 01:47:21 GMT

Published: November 18, 2008

By Anuradha Kher, Online News Editor Multi-Housing News

Washington, D.C.--Existing home sales increased 2.6 percent in from the second to the third quarter, according to the National Association of Realtors (NAR).

Nationwide, sales of existing homes, including condos and single-family, were at a seasonally adjusted annual rate of 5.04 million units in the third quarter, up from 4.91 million units in the second quarter, according to NAR. This number, however, is lower year-over-year by 7.7 percent compared to the 5.46 million-unit pace in the third quarter of 2007.

Lawrence Yun, NAR chief economist, says conditions continue to range widely. “A pattern of sharply higher sales in areas with large price declines is well established,” Yun says.

“Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it’s important for government to keep that in the forefront of stimulus decisions,” he says.

In the condo sector, metro area condominium and co-operative prices—covering changes in 57 metro areas—showed the national median existing-condo price was $210,800 in the third quarter, down 7.1 percent from $227,000 in the third quarter of 2007. Sixteen metros showed annual increases in the median condo price and 41 areas had price declines.

“These price changes are similar to what is happening in the single-family sector,” Jed Smith, managing director of quantitative research at NAR, tells MHN. “Where prices have come down, buyers have gone back to those markets. With regards to sales volume, we are skidding along nationally for quite some time but inventory is going down.”

Smith adds, “It is widely perceived that prices of condos will go up in the middle of 2009. The only wild card is the recession. But from what I am hearing and find from my research, things will start looking up in July 2009.”

The strongest condo price increases were in the Dallas-Fort Worth-Arlington area, where the third quarter price of $149,900 rose 11.1 percent from a year earlier, followed by Bismarck, N.D., at $148,000, up 11.0 percent, and the Houston-Baytown-Sugar Land area, where the median condo price of $134,100 rose 8.1 percent from the third quarter of 2007.

“These increases are caused by the economies in this areas. For example, the Texas economy is very strong with oil, defense contracts and agricultural production,” says Smith.

Metro area median existing-condo prices in the third quarter ranged from $112,600 in the Greensboro-High Point, N.C., area to $456,300 in the San Francisco-Oakland-Fremont area. The second most expensive condo market reported was the New York-Wayne-White Plains area of New York and New Jersey at $324,000, followed by Honolulu at $322,000.

Other affordable condo markets include the Indianapolis area at $113,500 and the Cincinnati-Middletown area of Ohio, Kentucky and Indiana, at $117,300 in the third quarter.

“Though all real estate is local and it varies considerably from region to region, we can say that the decline in the condo market has declined,” says Smith.