Written by Miami Today on May 12, 2011
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HOME SALES UP: Miami-Dade home sales, including single-family homes and condos, rose 71% in the first quarter, from 3,450 to 5,910 closings. Sales rose 26% from the fourth quarter of 2010, according to the Miami Association of Realtors and the Southeast Florida Multiple Listing Service. This first-quarter upward trend marks 11 consecutive quarters since the third quarter of 2008 that sales have climbed. With international and local buyers continuing to acquire condos, many as investments, condo sales jumped 91% and homes sales 47% compared to the first quarter of 2010. Statewide, sales of single-family homes rose 13% and condos 29% in the first quarter, the report shows. With short sales and foreclosures representing the bulk of the closings, the median sales price for a Miami-Dade home dropped 20% to $153,600 and for a condo 31% to $94,200 in the first quarter. At the state level, the median sales price for a home fell 6% to $123,600 and for condos 16% to $80,700.
UPPING OVERSIGHT: Less than an hour before Miami-Dade commissioners effectively suspended Jackson Memorial’s Public Health Trust and created a smaller Financial Recovery Board, they expanded the Hospital Governance Taskforce. The now 21-member taskforce, charged with reporting on ways to run the Public Health Trust by studying systems in other communities, began meeting in March for up to 100 days. But the commission voted Tuesday to give the president of the American Federal of State, County and Municipal Employees, Local 1363, a seat at the table.
TOURIST TAXES SOAR: Miami-Dade County resort tax collections, which excludes Bal Harbour, Miami Beach and Surfside, rose 14% in March to $2.219 million from March 2010’s $1.947 million, according to the Greater Miami Convention & Visitors Bureau. In addition, collections of the convention development tax, which is a 3% tax on any living quarter utilized for six months or less, climbed 13.7% year over year to an all-time high of $6.556 million from $5.767 million in March 2010. Collections for the county’s food and beverage tax, which is a 2% tax on food and beverage purchases on a hotel property, saw the largest increase in March to $647,661 from March 2010’s $523,404, a 23.7% rise.
WINDOW ADS: A new money-making program that would allow advertising to go up in the windows of vacant Miami properties is up for vote at today’s (5/12) city commission meeting. The idea is to generate money for the city through permits and for property owners from the ads while camouflaging empty real estate.