Daily Archives: April 10, 2007

WordPress Recognizes BoB: Miami

This blog is hosted on WordPress.com.

WordPress hosts over 850,000 blogs and sees hundreds of thousands of posts per day. They list the top ten most viewed posts daily. Boom or Bust: Miami has made the top ten with Know Your Competition: Panama City (Part II). The article appears as #9 on the list. BoB: Miami was also listed as #21 of WordPress’ Growing Blogs on April 10th.

With that said, thanks for reading!

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NY Times Spotlights Island Gardens

Turkish Billionaire Mehmet Bayraktar’s (Flagstone Group) plans for Island Gardens involve a Shangri-La Hotel. The first one in the United States for the Hong Kong based luxury hotel group. There are also plans for a Westin Hotel as well. The project’s most unique feature is a marina for super-yachts (100+ ft.). Island Gardens has stirred up controversy due to the minimal space being allocated for public use by the developer. Additionally, there have been gripes about the project obstructing views of the city skyline from the MacArthur Causeway. The development is planned for a mid-2009 completion and will not be held back by a market downturn due to its large hotel segment and nominal condo segment. As it stands, it will be situated next to the proposed site for the FTAA secretariat. The New York Times has a brief project profile.

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Not a Seller’s Market

The first quarter stats for home sales and foreclosures in Miami indicate a downward trend for the former and an upward trend for the latter:

In February 2007, there were 12,430 single-family homes for sale, and 519 homes sold. The story was very similar with respect to condos. In February 2006, there were 13,436 condos for sale in Dade, and 965 condos sold. In February 2007, there were 22,025 condos for sale in Dade, and 617 condos sold. According to a recent published report, Florida foreclosure activity in February of 2007 was up more than 63% from January. That’s one foreclosure filing for every 382 households in Florida. There were 19,144 foreclosure filings in Florida during February, the most of any state.

View the full article here.

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Filed under Economy, News