Hi, this is Mary G. after a short time needed to get myself together again. July was not my favorite month this year. I am glad it is gone... so Welcome August. I feel so much better about AUGUST!

I've learned quite a bit about buyers and sellers this past month. Many of them (sellers) are desperate to sell for whatever reason. For example they can't afford to live in Miami-Dade county any more because of taxes, insurance, familial situations. Buyers seem to feel that they can play games with where they want to buy. Oh, I want to live in Ocala, no Jacksonville, no leave the state, how about Georgia or North Carolina.

A tight lending market, slowing economy and smaller retailers scaling back are a few of the reason for the rise in retail vacancy rates and some softness in the price-per-square feet in South Florida.  A detailed article in the Miami Herald's August 11th edition highlights many of the concerns but also discusses some of the strengths.  For example, larger retailers and premium space is still sought after in many areas.

For the whole article and it's details and statistics click HERE.

TALLAHASSEE, Fla. (AP) – Aug. 7, 2008 – The values of homes, businesses and other properties across Florida declined $153 billion during the last year, and the murky economic picture isn’t expected to improve until sometime in 2009, state officials said.

Total property values dropped an unprecedented 6 percent, double the figure economists had projected last year. The decline would have been worse if not for $55.6 billion spent on new construction, according to data reported by The Miami Herald in its Wednesday editions.  The rest of the story...

WASHINGTON – Aug. 7, 2008 – Some improvement is projected for existing-home sales in the months ahead, with broader gains seen by the fourth quarter as buyers take advantage of new provisions provided through the recently-passed housing stimulus bill, according to the latest forecast by the National Association of Realtors® (NAR).

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in June, rose 5.3 percent to 89.0 from a downwardly revised reading of 84.5 in May, but remains 12.3 percent below June 2007 when it stood at 101.4.

The latest report by the National Association of REALTORS confirms that the current tightened credit markets have had an impact on the commercial real estate industry.

Investment in commercial real estate during the first four months of 2008 was $48.2 billion, down 69.5 percent from $157.8 billion during the same period in 2007 when the financial and credit markets were running smoother.

Vacancy rates in the office markets, for example, are expected to rise nationally to 13.7 percent in the fourth quarter of this year from 12.5 percent in the fourth quarter of 2007.  While overall vacancy rates in the industrial sector are projected to rise to 9.9 percent in the fourth quarter of this year an increase from 9.4 percent in the same period of 2007

MILWAULKEE – July 21, 2008 – Home sales trends might soon shift into a reverse commute.

First-time buyers who used to "drive till they qualified" by seeking affordable housing in outlying suburbs with cheaper land are rethinking that strategy, say local brokers. High gas prices are reordering some buyers' definition of affordable: the shorter the commute, the more affordable the house.

"Buyers are upfront about that. Buyers are calculating their commuting costs for properties they like, and considering that as part of the living in that house," said Diane Alexander, an agent with Realty Executives Integrity in Brookfield.

She has been trying to sell a "darling" house in Ixonia, in Jefferson County, for three months. "At $179,900, it's a first- timer's house, but it's tough, with the long commutes," Alexander said.  The rest of the story....

The power of video is never more evident than on the internet.  You only have to hear the word "YouTube" to understand what viral marketing can do for a person, an event or even a property.  The Jills Team in Miami have basketball star Shquile Oneal's home for sale and two members of their team recently attended the world's largest real estate show and expo - SIMA in Madrid, Spain.  Armed with a Flip Video camera, I was able to capture their impressions of SIMA and a few choice words about their special listing.

The "Sky Factory" company creates amazing Ceiling and Wall products that appear as beautiful natural scenes! The sky and clouds, trees, the sun, tropical beaches, even erie starry night scenes reminiscent of a Hubble telescope photo of another galaxy are among the images that The Sky Factory brings to life! This cool product is being utilized in many hospital environments to help the healing process.  Healing through art!  I once heard Bill Gates has this technology throughout his house plus the scenes move and imitate natures elements!  I need to be ultra rich ASAP!

Check out the Sky Factory and start to dream!

Sky Factory in the News:

http://www.theskyfactory.com/pop_tbc_gc.php

Sky Factory Website:

http://www.theskyfactory.com

Formerly an independent city, Coconut Grove (originally spelled Cocoanut Grove) was annexed by the city of Miami in 1925. With Biscayne Bay on it's eastern side, The Grove is home to a large boating community featuring the Coconut Grove Sailing Club, the Coral Reef Yacht Club and the world famous Dinner Key Marina. Coconut Grove is also home to The Kampong, a tropical garden that forms an 8 acre section of the national Tropical Botanical Garden plus the location of The Barnicle Historic State Park.

Coconut Grove. Home to the Stars! An upscale village in an international city! Luxury Hi-rise condos, lovely wooded homes, luxury waterfront properties! All centrally located! Whatever you call it...Coconut Grove...Cocoanut Grove or just, The Grove...it is truly paradise.

By Lawrence Yun, NAR Chief Economist

The pending home sales index in March again came in soft, falling 1 percent from the prior month. Many media outlets are reporting this will be about the lowest reading since the creation of the index in 2001. However, a smart observer will note that for all intents and purposes, the index has been moving in the very narrow range from August of last year to this March. This time period reflects the post credit crunch where subprime loan originations have disappeared from the market place.

The Northeast region continues to show good signs of recovery. In March, pending home sales rose 12.5 percent. The West and South regions were essentially unchanged. Only the Midwest region experienced a meaningful decline with a 10.4 percent fall.

Pending sales rose in localities where affordability conditions have measurably improved. For example, Bakersfield and Providence both showed outright year-over-year gains in March.