According to housing data from the Florida Realtors, the housing market in Miami and Florida is beginning to rebound with median prices on the rise, a higher percentage of pending sales, and a lower Miami real estate inventory. The President of Florida Realtors, Summer Greene, has said that the housing market is showing signs of recovery. This is expected to continue in the coming months.

Statistics from the prior year indicate that the median sales price has increased by 10.3% to $139,000 this year for single-family homes. The statewide median for condos and townhome properties is up to $105,000, which is a 20.8% increase from the year before. As Florida real estate values soar, the market trends indicate that there will be an upsurge in homeowners attempting to buy or build their own home in the Sunshine State.

While the national median sale price of homes in the United States moved upwards only slightly this past year, the real estate market in Florida showed particular promise with a noticeable rebound. These trends are encouraging for several reasons. As the real estate market expands and rebounds from the global financial crisis, it indicates that the crisis may be coming to a close with recovery well on its way. As such, homeowners may be looking to sell more properties, and homebuyers will still be able to find affordable prices on single-family homes, condos, or townhomes.

With decreasing inventory and strong pending sales, Florida Realtors are expecting a much better turnaround in the coming months for the Florida housing market. With low interest rates to attract more homebuyers and great market conditions, realtors are finding more opportunities to sell homes, as there are more potential homebuyers and an increasing number of people willing to sell their home in this market.

The median home value is the middle value, meaning that half of all homes sold for more than that value and half less. With these new numbers, the market is seeing real change and posting remarkable recovery numbers. The median price would probably be higher, analysts say, if the value of foreclosures and distressed properties were not pulling down the median value.

With these positive trends, there is reason to be optimistic that the housing market is rebounding and will show more promise in the future. Whether you are looking to buy or sell, the revitalization of the housing market is a welcome change for everyone, however you should always consult with a local, knowledgeable Miami realtor.

Florida businesses have seen an upsurge in activity, as people become more confident in the direction that the economy is heading. According to data released by the Florida Department of Revenue, sales records were broken in the month of January, and a 12.5% jump was recorded for the first time since 2006. Florida businesses are seeing the best year that they have in the past half-decade, and they recently reported $71.6 billion in net profits in the month of January. Businesses that reported the strongest returns were service firms, wholesalers, and electronics providers.

While these figures show a promising shift in the economy, all sectors are not rebounding as quickly. The recovery has affected different sectors of the economy differently, and as such, some industries are not seeing as significant of a change as others. Some counties did not show significant sales increases, like Sarasota and Manatee counties, both of which reported only minimal increases in sales that were actually down from the prior year.

The hotel, retail, and auto industries all reported significant sales figures for the month of January 2012. With these figures showing significant increases in revenue for businesses in several different industries, economists are seeing that as a positive indication as to where the economy is headed in the future. With business sales soaring and the housing market showing sure signs of recovery, there are many reasons to believe that the business market and housing market alike will show significant promise in the future.

Miami Homes sales and Miami Condos sales figures

have been significantly on the rise in the beginning of 2012, and some analysts are predicting a sizeable increase in home values by the end of the year. With job growth and the expansion of businesses, the market is continuing to provide valuable insight into the stability of the economy. While there are many reasons that the economy may still be in recovery mode, there are also several indicators that seem to show that the economy is well on its way to recovery. Economists agree that the recovery is underway, but many believe that it will take quite a bit longer before the full recovery will take hold and Americans will feel the growth all across the country.

The Florida housing and business markets provide a glimpse into the type of recovery that can be expected to occur in other parts of the country in the coming months.

Since Miami real estate market

has shown significant signs of recovery, there has been cause for concern among experts that this may result in another housing bubble. Since there have been many properties purchased at well below value during the past few years, experts disagree as to how the recovery will affect home values for home-buyers in the future. People that want to ‘get rich quick’ from their housing investments may see the recovery as an opportunity to facilitate another housing bubble, as has been experienced in the past.

According to Lana Bell, owner and founder of Sunny Realty, “So long as individuals have the liberty and freedom to be greedy, the speculative bubbles will be inevitable, and we’ll have to deal with the outcome of bursting of that bubble.� Citing the desire of certain investors to get rich, a housing bubble scenario may reoccur, at which point it will be the market’s job to stabilize the prices after being artificially raised through speculative behavior.

Other experts disagree and believe that greed will not be the only factor in determining housing prices. There are now stricter regulations in place to prevent companies from providing unsecured, unverified mortgage loans, which facilitated the housing crisis and the artificial housing bubble. Chief Economist or the National Association of Realtors, Lawrence Yun, spoke on the topic and made this statement: “Back in 2005, investors came in with exotic mortgages and liar loans, and that’s not the case today.� With more stringent regulations on loan agencies as to who they can loan to and how much can be borrowed, Yun is optimistic about the recovery of the housing market in Florida and predicts that Miami home sales and prices will jump by 10% by the beginning of 2013.

Other concerns were raised at the business conference held at the Palm Beach County Convention Center. Realtors expressed concern over the financing trouble that many homeowners are having, especially if they must get into a bidding war with investors willing to pay cash for a property. Homes that are priced very reasonably in Florida are flying off the market at lighting speed with the combination of families and investors vying for the opportunity to sweep the property up before housing prices rebound more significantly. While all indicators have been positive for the Florida housing market and especially Miami luxury condos, Lisa Shalett of Merrill Lynch Global Wealth Management warns that the economy is not out of the woods just yet.

A recent study that was conducted by the American Society of Home Inspectors (ASHI) has revealed that 88% of homebuyers feel more at ease with their home purchase after a professional inspection has been performed. While many people gain peace of mind from having an inspection performed on their home, a significant percentage of people are still confused about home appraisal and home inspections. A home inspection provides homebuyers with peace of mind that the property that they are purchasing is being valued correctly and is free of undisclosed damages or problems. It also gives homebuyers a sense of the condition of the property so that they can assess any damages that may have to be repaired in the future before buying. While real estate appraisal is an evaluation of the property.

The survey that was released also released some revealing data about foreclosures, short sales, and distressed properties. According to the data released by the American Society of Home Inspectors, 85% of people believe that short sales, foreclosures, and distressed properties can be great deals. Of the same group, prospective homebuyers are 84% more likely to purchase a home if it has been inspected. Homeowners, based on data collected in this study, value home inspections tremendously when making a home purchase, as they believe the inspection will inform them of the market value of the home and whether the home that they are considering is in good condition.

The confusion surrounding home inspections stems from a lack of knowledge about exactly what the inspection entails. More than one in four homeowners that participated in the survey thought that the home inspection complied with local building codes, and one in 10 do not differentiate between a home inspection and an appraisal. In an effort to raise awareness of the indispensable value that home inspections provide, the American Society of Home Inspections has been taking a proactive approach to helping the community become more aware of the many advantages to having a home inspection performed on their property before making a purchase.

The home inspection process helps keep homebuyers well informed and ensures that they have the valuable information that they need before purchasing a new property. While many people understand the immense value that home inspections provide, there is still room for improvement in helping prospective homebuyers understand the inspection process and what that process entails. The ASHI will continue to bring light to the home inspection process to benefit homebuyers as they prepare to purchase a new property.

Miami real estate

is one of the most sought after real estate in US and offers lots of luxury waterfront homes. If you’re on the market to buy Miami real estate, you will need to work with experienced knowledgeable and licensed real estate agent. Choose Sunny Realty today for the best real estate buying experience in Miami.

The Sunny Isles Beach

site that featured oceanfront property has recently been purchased by Edgardo De Fortuna – owner and founder of Fortune International. The site will be used to build a new luxury Sunny Isles oceanfront condo, but the company that deal with the foreclosure of the Paramount Bay Condo has now acquired the 2.2-acre site. The stunning lot located in Boca Raton was won after the loan was sold to Sunny Isles Property Holdings. Carlos Mattos of the Hyundai Colombia Automotriz seized the property and then sold it to the affiliate for $22 million.

Sunny Isles Beach real estate

is associated with luxury ocean front developments, several of which were built by Fortune International. However, this marks a significant real estate purchase for the company. Acquiring this 2.2-acre oceanfront property is a significant shift in the real estate landscape in the area. While it is not known exactly how the property will be used, there are many excellent options that Fortune International can use to leverage the property.

The speculation surrounding the multi-million dollar purchase of property by Fortune International has sparked conversation about whether the housing market is in recovery. Since many figures have pointed to an improving housing market, it is no surprise that a property this desirable has changed hands. Led by Edgardo De Fortuna, Fortune International has been responsible for creating condominiums on Jade Beach and the Jade Ocean Condos. If they continue down the same path, they may decide to build luxury condominiums on the gorgeous piece of property.

With business markets rebounding significantly and housing markets right behind them, optimism and confidence seem to be the pervasive emotions surrounding the state of the economy. While economists state that there is still far to go until Americans experience a full, complete recovery, the improvement in housing market statistics, business sales, the unemployment rate, and job creation is very promising.

With the acquisition of this property, Fortune International will be able to begin building on the stunning Sunny Isles condo to create luxurious oceanfront condominiums or any number of other commercial properties. With the housing market in recovery, Edgardo De Fortuna has taken advantage of the low housing and interest rates and purchased a wonderful oceanfront property in Sunny Isles.

A new semi-annual study revealed some astonishing figures about the housing market and predictions for the future of real estate in the U.S and Miami real estate. The Center for Capital Market and Real Estate of the Urban Land Institute conducted the study and found that their figures indicated that there will be a significant rise in home values in the next 2 years. In the next year, projected home values are set on a path to increase by more than 2%, and analysts predict that there will be a more significant pricing boost in 2014 to more than 3.5%.

These figures give reason to be particularly optimistic about the direction of the economy in recent months, and real estate analysts and economists are predicting a big year for the market in 2014. As prices continue to rise, there are many reasons that homebuyers are becoming more invested in the home buying process instead of renting. With the economy growing and job creation looking promising, people are more willing to buy now than they were just a year or so ago. The fact that rental prices have soared upward has helped convince people who would otherwise choose to rent in this economy that buying may be the best option.

Economists also foresee prices on rental properties continuing to soar over the next few years, although the increase in rental prices is not expected to be as significant as the price of real estate. Analysts predict that these increases will be anywhere between 0.8% and 5%. These predictions are based on the assumption that the economy will continue to show signs of recovery and even enter a full-scale recovery for all sectors.

According to ULI Chief Executive Officer, Patrick L. Phillips, “While geopolitical and global economic events could change the forecast going forward, what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years.’ While some variables may sway the course of these projects, economists feel confident that the economy has shown significant signs that there will be recovery in the near future, and they are optimistic as to the direction of the housing market moving forward. With home values reaching record lows over the past few years and unemployment above 8%, the housing market has been in need of a revitalization, and it appears that now it will begin to see that come to fruition.

Notoriously when the real estate market heats up, the most gains are noted within the luxury real estate markets, such as waterfront and oceanfront condos and homes. Even now, Miami luxury real estate had reported over 40% increase in sold properties as well as increase in the median price. Most analyst agree that the real estate will be the major growth factor along with improving economy during the next decade.

When a national leader decides to make wealth a “collective” issue, it often means that investing will start to head outside of that country’s borders. This is exactly what the new “Chavez Effect” is creating in the country of Venezuela. The president is actively taking control of businesses and property, and this is forcing the wealthier Venezuelans to seek ways of protecting their financial security. The most common response is to take their money to the United States and invest in either real estate or things like real estate of all kinds.

This has already had a tremendous affect on the Miami real estate market

where some realtors are describing their clientele as around “fifty percent Venezuelan”. What is so interesting is that the buyers are not simply purchasing a single family home or a luxury oceanfront condominium in Miami. Many are buying homes and businesses and beginning to establish themselves more in the United States than their own homeland.

For instance, a recent article published by Reuters quotes one Venezuelan citizen as saying quite plainly: “You can’t invest in Venezuela these days”.

This is not all that new and surprising to many real estate professionals who already understand that a huge amount of the condominium and single home sales are made to South Americans and Canadians. This has usually had to do mostly with the enormous differences between market prices. For instance, the average cost of an upscale condominium (whether existing or in the preconstruction states) in the Miami area is currently at $400 per square foot. The same properties are selling for around $1,000 per square foot in places like Toronto or Buenos Aires. This has been one of the primary reasons that investors have headed to the area.

The fact that this is a region that is dominated by Miami luxury properties is also a reason behind the increase in sales over the past year. In Miami, there has been a 36% increase in prices since 2011. This is because of the growing difference between the supply and the demand. For example, only around 15% of the “boom era” condominiums remain unsold, and many of the preconstruction projects are selling at a rate of 50 to 90% even before the ground is broken on the construction.

When you add some unpleasant financial conditions such as those created by President Chavez, it is easy to see that the Miami real estate market is going to continue to grow and remain dynamic into the coming years.

We have all heard the phrase, “It’s a buyer’s market”. In fact, if you are someone who sells real estate for a living you have probably heard that saying a bit too much in the recent past. After all, whenever prices decline to the point that buyers boast of the bargains they are finding, it doesn’t always mean that things are so great for those who are working in sales.

This is not the case in the Miami real estate market

Why not? For one thing, recent news stories have emphasized that this market is already experiencing a boost in activity and sales. This is not a big surprise simply because Miami markets offer luxury single family homes as well as oceanfront condos which are very popular on a national and international level, but what does surprise a lot of professionals is that the prices for the homes are higher than might be anticipated.

While many real estate professionals are seeing the mid to low range prices dominate their sales data, the Miami markets are showing that the dominant price range is at one million dollars or more.

Why is this the case? It is due to several reasons. The first we already mentioned – Miami has always been very desirable location no matter the financial conditions. The second is that most financial and real estate professionals agree that the Miami prices and markets have reached the lowest figures possible most recently. In addition, the International flavor that Miami has to offer is also playing key role with so International buyers. The combination of all factors, has driven a lot of the luxury buyers to act while there is still a chance to get an upscale home for a relatively reasonable price. Thus, there are many luxurious homes being “gobbled up” by active buyers looking to enjoy a bit of a bargain, even if it does come with a price tag of one million or more.

The one “glitch” in this picture is that there will only be a limited number of homes, or a limited amount of time, before things change. For instance, if you look around the Sunny Isles luxury condominium market in the Miami area you will see that a lot of the builders are doing preconstruction sales at unprecedented levels, and yet most agree that they are going to increase the “per square foot price” in response to the huge level of interest shown by the market.

People joke that $1 million is not a huge a sum “as it used to be,” but in the Sunny Isles Miami real estate market it is actually an amount that can go farther than ever!

From 2005 to 2009, there was a “boom” for Miami real estate

This led to the construction and sales of thousands of luxury condominiums in the best areas of the city and region. After the arrival of the different global financial problems, however, the Miami markets experienced the same sharp declines as many other areas of the globe.

Today, on the other hand, the Miami condo market is showing more than just some small signs of recovery. In fact, a recent report on sales showed that there was a 36% increase in sales prices over the course of the past year. Additionally, median single family homes also jumped by 13% during the same time span.

What’s going on with luxury Miami condos?

This entire area has attracted a lot of interest from international buyers who are hoping to enjoy an opportunity for nabbing a bargain property. The history behind the Miami condominium industry makes it easy to understand this current wave of investment. For instance, there were periods in which builders constructed massive properties with thousands of condos being made available at once. These homes demanded “top dollar,” and were used as homes, rental properties, or vacation homes.

When the downturn in the real estate market occurred, there was also a slowdown in sales and construction. The market soon adjusted to a far more measured pace. This created the famous “supply and demand” scenario that limited the number of condominiums available and allowed builders to weather the storm.

Today, financial markets are recovering and buyers are actively seeking to acquire some of the best condominiums at the most reasonable prices. Experts all agree that the Miami prices have already “bottomed out” and that now is the very last time that the cost of a condominium will be considered a “bargain”. This can be seen by the sharp jump in average prices and by the fact that most of the preconstruction condominiums in the region have nearly sold out.

Recent news stories and reports show that there are very few remaining condominiums available (less than 5% of the boom era homes are unsold) and that most of the preconstruction projects are selling rapidly. Additionally, it is known that condominium inventory declined by around 37% during 2011, and this too is one of the reasons behind increases in the average cost.
What this means is that now is the last chance to find a bargain in terms of Miami condominium properties.

If you want some proof that the Miami area real estate market is recovering quickly and strongly, you will want to turn attention to the Mansions at Acqualina property. It is a pet project of developers Jules and Eddie Trump, and it is a very accurate illustration of the “measured sales” model that has helped to restore and even reshape how Miami condominium sales work.

What does that mean? Well, this project is still in the preconstruction stages, and yet the builders have already managed to sell more than half of the luxury units. The price tag for one of the homes starts at five million dollars and goes up from there, but the scale of the building, the amenities and the general “tone” of the property have been chosen to make it an optimal choice.

Unlike the “boom” era properties that had thousands of units packed into clusters of tall buildings, the builders of this sort of property have come to understand that a measured approach is more appealing to the current market. Buyers in all of the available properties are responding to facilities with far fewer condominiums, and with alternative options such as exclusive parking garages or unique locations.

The Mansions at Acqualina

has only 79 homes in the waterfront building, plus a massive penthouse property that takes up the entire top floor. The facility is still in the planning and preconstruction stages, but the active sales are a good reflection of the kinds of activity in the Miami condominium market in general.

For instance, a recent report indicated that the average sales price of a condo in this market had exceeded one million dollars, and that many international buyers had turned their attention to the area as well. For instance, Canadian and South American buyers seem to be dominating the market in the current era, and this is because many have come to recognize that the prices truly have “bottomed out” and are already beginning to climb upward.

The sales data for the Miami condominium market shows that prices have climbed by roughly 36% since the same time in 2011, and that even single-family homes experienced an increase of 13% in cost. Clearly, this is the proverbial “eleventh hour” for bargain shoppers, but it is also a good time to explore the newest forms of luxury condominiums that are the result of all of the changes created by the unique conditions in this market.

A thousand years ago it was said that “all roads lead to Rome”. Today, there are real estate buyers from Rome as well as hundreds of other cities around the world are all buying Miami real estate as well as properties in South Florida.

During the most recent 2012 Real Estate and Economic Forecast Conference in Orlando, John Tuccillo, chief economist of Florida realtors, had said “I think we’ll see a steady and stable stream of international sales this year”. The residential demand is up again this year from buyers from Canada, Latin America, Europe and other parts of the world. Lower prices and favorable exchange rates have promoted purchases in Florida.

International buyers are ideal clients. They buy higher priced properties and most of the transactions are all cash, according to studies done in 2011 – Profile of International Home Buyers in Florida, prepared by National Association of Realtors. In fact, 77% of sales professionals reported that they had worked with an international customer in the preceding 12 months, up from 65% in 2010.

“This number may even be lower than the true number, because many foreign buyers do not use their foreign address” said Lana Bell, owner and founder of Sunny Realty. Many foreign buyers have already established residences in Miami and are looking to upgrade. In addition, many companies are relocating to Florida, including job-creating multinational companies, which is another positive factor for Miami’s international market.

According to 2011 survey, Canada is Florida’s top international market, accounting approximately 39% (up from 36%). In contrast, United Kingdom accounts for 7%, German buyers – 5%. The biggest jumps occurred in Latin America, where Brazil’s share of International market rose to 8% and Venezuela’s to 7% (both had been 3% in 2010).

Overall, foreign buyers were likely to purchase in a resort area or in a central city, like Miami. In Miami, Brazil and Russia are leading sources of international buyers, especially for condominium purchases in areas like Sunny Isles Beach, Miami Beach, Hollywood, Hallandale, Aventura and Bal Harbour. In areas like Key Biscayne, we see buyers from Argentina, Peru and Europe.

“Our agency serving buyers from South Africa, Australia, UK, Norway, France, Brazil, Russia, Canada and Latin America”, says Lana Bell, founder and owner of Sunny Realty. “About 85% of our transactions involved a foreign buyer” said Lana. From luxury Miami homes to stunning Sunny Isles Beach condos the real estate in Miami offers more than anywhere else in the world.

Two words sum up Florida’s appeal for international buyers: vacation and value. With its beaches, golf, tennis, shopping, boating and cultural and tourist attractions, Florida has been a global vacation destination for four decades now. Today, Florida also offers excellent value for international buyers compared with vacation destinations in Europe, the Middle East and Latin America.

The 2011 survey found that 41% of foreign buyers purchased a property as a vacation home, 23% intended to rent it, 25% planned a dual use and 6% bought it for a retirement home. While many foreign buyers prefer easy to maintain condos, others buy single family homes and some purchase multiple properties in the same location. “We attract international buyers in many different ways”, says Lana Bell of Sunny Realty. “I speak Russian, but my agents speak Spanish, Portuguese, French, German, Hebrew, so there is never a language barrier between us”.

We can expect a continued pattern of strong activity in the international sector, led by demand from Latin America as well as other emerging markets, according to Lawrence Yun, chief economist of the NAR (National Association of Realtors). Follow the trends in foreign currencies, because exchange rates are definitely a driver for international buyers, and Florida continues to be seen as a desirable place to buy.