Home Prices in Miami-Dade Grow Yet Again

By Sunny Isles Real Estate Expert on December 14th, 2015

Miami homes for sale

The average home price in Miami-Dade County grew yet again in August, 2015, albeit at a slower pace compared last year’s growth. CoreLogic – a business and real estate analysis firm – reported that residential prices grew 7.4% in August compared to the same time last year. This number includes distressed properties. That statistic represents a slight decline from the previous month, during which home prices went up by 7.9% year-over-year.

In real numbers, the rise looks like this – the median selling price for single-family homes was $250,000 in August of 2014, and rose to $260,500 in August 2015. Condos enjoyed an even more drastic increase in median selling price, from $182,000 in 2014 to $204,000 in 2015.

In addition to price growth, sellers have been getting closer to their asking price than in 2014. The average selling price compared to list price was 96.1%, which represents a .7% increase year-over-year from 2014.

Even Slow Growth Is Good

As mortgage rates go up and single-family home inventory increases, the report predicts that the growth rate will continue its slowing trend. Experts, however, emphasize that this leveling off isn’t necessarily a negative thing.

2013 and 2014 brought with them a real estate boom that caused double-digit prices increases, which is generally regarded as unsustainable over the long-term. Part of the reason for that boom was high activity on the part of foreign investors; due to the strengthening of the U.S. dollar, their buying power has been subdued. The gradually slowing growth simply represents a shift from an extremely frenetic real estate market pace to a brisk, healthy pace.

Across Florida, home prices went up by 8.1% during August, when compared year-over-year. According to CoreLogic’s report, the national growth rate was slightly lower at 6.9%.

Only a few other areas across the nation showed stronger housing price appreciation than Miami:
• San Francisco – 10.7%
• Denver – 10.7%
• Dallas – 8.9%
• Portland, OR – 9.4%
• Seattle – 7.6%

According to CoreLogic CEO and president Anand Nallathambi, prices in these metropolitan areas “remain very strong reflecting higher demand and constrained supplies.” Adding to this, Nallathambi pointed out, “Continued gains in employment, wage growth and historically low mortgage rates are bolstering home sales and home price gains. In addition, an increasing number of major metropolitan areas are experiencing ever-more severe shortfalls in affordable housing due to supply constraints and higher rental costs. These factors will likely support continued home price appreciation in 2016 and possibly beyond.”

Sales Growth Slows Down

On the sales rate side of things growth has also slowed, partially due to an influx of new condo developments (see all Miami pre-contruction condos here) which refreshes inventory, giving buyers more choices. According to the Miami Association of Realtors, an organization boasting 38,000 members, residential sales in Miami-Dade County rose nearly 3% in August, from 2409 the year before to 2479. There was a minor 1% decrease in single-family home sales year-over-year when compared to August 2014, going from 1157 to 1145. Condo sales increased for that same month year-over-year, from 1252 to 1334.

Despite the slight decline in rate of growth, the fact remains that the Miami real estate market continues to enjoy steady growth, which is a healthy indicator for an area undergoing much construction and reshaping.

La Gorce Island Miami Home Sold For $30M

By Sunny Isles Real Estate Expert on July 14th, 2013

Miami real estate

Miami homes for sale

Castello del Sol – home on La Gorce Island Miami Sold For $30 Million

setting a record for La Gorce Island, on which the luxury property is located. La Gorce Island is located in Miami Beach and offers tranquil living on the golf course and walking distance to the beach. This sale set a new record on the island and is also probably in the top five most expensive sales among Miami Beach homes.

This property was actually purchased by a corporation, and a corporation was also the seller in the deal. The corporation that sold the home has the somewhat unwieldy name of 1418518 Ontario Incorporated.

This home is so large, it almost resembles a resort in its scale and luxury. However, this home is quite unique among the many luxury Miami Beach properties located on the Eastern Seaboard.

Castello del Sol Estate is located in the heart of Miami Beach, on La Gorce Island, which is one of the more exclusive islands in the Miami area. The property comprises 2 acres in total. The island on which the property is located is gated and guarded, offering a very private experience for the homeowner.

A full 349 feet of the 2 acre property consists of this Biscayne They frontage. The property has enough room for yacht owners, with three docks of its own – all made of teak – and plenty of space to dock even a large yacht.

Castello del Sol has just about every feature that one would expect out of an exclusive resort. The property is outfitted with its own theater and has two kitchens. All of the ceilings in the property are hand-painted and the finishes in every regard are luxurious and upscale.

Miami homes for sale

The home is even supplied with its own library and, in total, there are 17,000 ft.² of air-conditioned space that comprise the home. The square footage is divided up between different bedrooms, offering plenty of room for guests and, of course, the corporate visitors that are likely to frequent this property now that it has been purchased by another corporation.

The amenities at Castello del Sol certainly include some that range into the extremely exclusive, particularly the three docks. According to reports in the Associated Press, the three docks were permitted by bribing a mayor. This is connected to the original owner of the home, David Paul, who owned a savings-and-loan in the 1980s.

The island on which this property is located is certainly no stranger to celebrities. La Gorce is home to many affluent individuals, and most of the homes on the island certainly meet the definition of estate properties. The values of these exclusive estate properties have sky-rocketed within the last several years, recording many multimillion dollar sales.

The Emerging Miami Real Estate Market for Luxury Properties

By Sunny Isles Real Estate Expert on March 26th, 2011

Coral Gables Real Estate

Coral Gables House For Sale

Even among luxury locations, some are more desirable than others. Some homeowners will prefer something very private and something that offers them tremendous security. Others will prefer to be part of a thriving community that is spontaneous, trendy, upscale and fun. Coral Gables homes Florida has long had a reputation for being the latter. It is also enjoying a market favorable to sellers at the moment.

The properties that make up the Coral Gables real estate

inventory are very diverse. There is a huge range of architectural styles represented. The area is also very popular as a location for corporate headquarters and there is a growing and affluent population that calls this city home. This is among the first planned communities in the Miami-Dade area and it has consistently been one of the most popular, in good times or bad.

Currently, there is 80% owner occupancy in Coral Gables. This indicates the fact that this city is popular as a location for people’s primary homes and sets it apart a bit from a great deal of the southern Florida real estate market, which is oftentimes popular with those who want a vacation home in the beautiful tropical environment. In Coral Gables, however, there is tremendous access to all the luxury amenities one would expect.

This area has several important selling points that those wishing to unload their homes will appreciate. The area is full of restaurants and entertainment venues and they tend to be very upscale and fun. There is a healthy arts and culture scene in the community and it has the feel of being an important part of the local culture rather than being separated from it, as is the case with some luxury developments. Like all areas of Miami-Dade, the aftershocks of the real estate crash are fading away and the market is starting to get brisk again.

There are currently many homes listed on the market, and they are fetching very impressive prices. The homes in Coral Gables range from the low $100,000s to over 10 million dollars in price. This lends some strength to the market, as it is diverse. Homes in fashionable areas, such as Anastasia Avenue and Snapper Creek Road, however, are demanding high prices and there is great interest in them. With a good Coral Gables realtor, it’s possible to turn a handy profit in this popular and historic city.

Selling Luxury Single Family Houses in Today’s Market

By Sunny Isles Real Estate Expert on March 18th, 2011

Miami Beach Luxury Houses For Sale

Miami Beach Luxury Homes For Sale

Too many home sellers are worried that 2008 never ended. In the intervening 2 years, the Florida real estate market has improved. A reduction of foreclosures on the market combined with a strengthening economy has caused home prices to rise. In Miami Beach, sometimes called The Venice Of America, the market is heating up and luxury properties are on the move again.

Miami Beach real estate

is well-known for its stylish, luxury waterfront homes. Many of them have a distinctly tropical feel that celebrates the beautiful Florida climate. While the market everywhere was tough for a while, the market in luxury areas such as these has been improving recently. There are some techniques a good realtor can help you to use to sell your home in this area, if it’s time for a change.

Most homes in Miami Beach

remain on the market between 6 to 8 months, according to MLS data. This is not an extended time, by any means, for a home to be available on the market. In fact, it shows how rapidly a buyer can be found for a well-priced home in this market.

In the last few quarters, the prices for Miami Beach luxury waterfront homes have been going up. Combined with a realistic price for your home, this means that a realtor may be able to unload your house much more quickly than you think, and at a far better price than you may have been hoping for. It’s very realistic to get a premium price for your luxury Miami Beach home, the demographic who buys them isn’t known for being bargain shoppers.

There is plenty of appeal for a good home in Miami Beach area. While the area is known for being affluent, there are homes that aren’t necessarily up to the standards of luxury that the target demographic sometimes expects. Some are sold based on being waterfront properties, with most of their value coming from that fact. A good property on Miami Beach at a sensible price is a very attractive commodity.

In the last year, this area has been particularly good for homes at around $1,000,000. This makes it ideal for those who want something that bespeaks luxury but who don’t want to overbuy. If you have Miami Beach real estate in this price range, be aware that a realtor will be working with a very interested market and that a sale may be very rapid.

For more information on today’s best deals in Miami Beach please be sure to visit:

Pinetree Drive Homes, North Bay Road homes, Allison Island homes and La Gorce homes.

Home Sales in Miami are on the Rise Due to a First Time Tax Break

By Sunny Isles Real Estate Expert on December 21st, 2009

Miami Single Family Houses For Sale

Miami Homes For Sale

Miami real estate

as well as the economy is experiencing a slowdown that is unlike anything the country has experienced in decades. Because of the struggle in the United States economy, more people have found themselves without jobs and fewer people are making large purchases. Whether they cut their spending out of fear of what the future might bring or because their income has been cut, people are spending less.
This shift in how money is being spent has affected the real estate market drastically. One of the most expensive things that people may purchase is real estate. Because property can be so costly, it is usually one of the first things that people stop buying.

Just when Miami home sales

seem to be faltering the most, a tax break offered by the government has been a breath of fresh air. This tax break has led to a boom in the real estate market, which has in turn, stimulated the economy.

Miami condos and Miami homes for sale

have continued to be a favored area of relocation for many people. Real estate in Miami is coveted in the area, whether buyers are looking for luxury Miami condominiums or Miami water front single-family residences.

Because of the recent tax break, more people are finding it in their budgets to go after the home that they dream of. Since the economy has been slow, the costs of homes and properties are still quite low, leading to the ideal situation for the buyer. Locations like Miami are seeing a consistent rise in the real estate market and home sales thanks to this combination.

If you are thinking about relocating to the Miami area, you will find plenty of properties available. The costs are low, but as the market rises, you will see the costs go up. The present time could be just the right opportunity for you to buy your new Miami home.

Boat Lovers Will Find Great Value in Eastern Shores Homes

By Sunny Isles Real Estate Expert on November 8th, 2009

Eastern Shores Homes For Sale
Eastern Shores Real Estate For Sale

Located in North Miami Beach, Eastern Shores real estate

provides property owners and vacationers easy access to attractions, which are sure to make the community the place to live. With its direct ocean front location, the community is a haven for boat lovers of any type.

Properties in Eastern Shores are designed to provide direct access to the ocean. Many of the properties have their own private boating docks. Even the homes without such access are all less than three miles from boating conveniences. Whether you are looking for a new place to put down some roots or you are looking to rent a vacation home, you will be able to spend as much time as you like out on the open waters from your Eastern Shores property.

Designed to be an upscale gated community, Eastern Shores homes are still conveniently close to Miami’s city center for guests who wish to enjoy the attractions of the city. Additionally, the community itself is home to a number of shopping venues as well as a plethora of restaurants of all types.

Any boating enthusiast will enjoy the value they will find in a selection of single-family residences in Eastern Shores waiting to be purchased or rented. Whether you are wishing to just get away for a spell or you are wanting spend your days on the ocean, you will find plenty of different home choices in Eastern Shores Miami.

Despite rises and falls in the real estate market, Eastern Shores Miami real estate remains to be a popular spot for home purchase a house on the water. No matter the state of the market, you will find the right property for you and you will be able to enjoy boating on the Atlantic within moments of your Eastern Shores house. The value available is excellent, the location is choice, and the waterfront houses in Eastern Shores are right outside.

Selling Your Miami Home

By Sunny Isles Real Estate Expert on October 18th, 2009

Homes in Miami for sale
Sell Miami Home

Whether you are relocating within the Miami real estate

or you are moving farther away, if you have decided to sell your Miami home, there are a few things you will need to know. By thinking carefully and planning thoroughly, then you will be able to take advantage of the Miami real estate market and get the most out of your Miami home.

Some people are afraid to try to sell their homes in this slow market, but what you must remember is that, if you offer your home in the right way, you can still get what your home is worth. The key is to make sure that you present your home in the very best light possible.

The first thing to think of is the actual location of your property. Whether you own home in Miami or South Beach condo or condo on the ocean in Sunny Isles, and then you need to understand your surroundings well and use them to help sell. All of these areas have plenty to offer a potential buyer. Make sure that your home’s prime location is well known when you are offering it for sale.

The next thing you will have to do is to repair any minor problems or issues with your home. A little home improvement can make a big difference in how much you can sell your home for. Even if you take the time to paint the interior of your home, you will see a big jump in your home’s value. Remembering that a slow market makes it harder to sell your Miami condo or house, use every opportunity to make your property more appealing.

The last thing you will need to do is to find the right listing agent who will help you sell your property. Make sure that your home is put out there online and in paper so that more potential buyers will see it.

The Time is Right to Buy Miami Waterfront Homes

By Sunny Isles Real Estate Expert on September 29th, 2009

Miami Homes For Sale On The Water
Miami Waterfront Properties For Sale

Waterfront homes in Miami

have always been among the most desirable properties in virtually any location, and Miami real estate is no different. While the current economy has certainly been tumultuous, it is finally showing signs of improvement. Even as things start to return to normal for most people, however, current real estate prices in Miami are still much lower than market value, making this the perfect time to invest in Miami waterfront homes. There are many waterfront homes in the city, offering one of the most popular and beautiful destinations in the country.

Miami waterfront properties

is one of the top spots in the world to own real estate, and the reason is simple. The city offers luxury, convenience, and just something for everyone. Whether you are seeking a luxury condo in Miami, one of the most exciting cities in the world or you are looking to purchase an investment property to rent out or to sell when prices go back up, Miami is definitely an excellent choice. These properties offer all of the convenience of city life with the beauty of Miami. Life on the water is always a breeze, and these properties are certain to not only hold their value, but to be among the first to see their value rise when the market turns around.

Whether you are looking to buy or invest, Miami’s waterfront areas are certainly among the best places to do so. These properties provide easy and luxurious beachfront accommodations that are popular among locals and travelers alike, creating a property that is easy to re-sell and a prime candidate for a luxurious and profitable Miami vacation rental. Miami will always be one of the most popular destinations in the country for travelers across the globe, and there has never been a better time to invest in these gorgeous Miami waterfront houses.

Historic Miami Shores Houses

By Sunny Isles Real Estate Expert on July 1st, 2009

Miami Shores Homes For Sale
Miami Shores Florida Houses For Sale And Rent

Miami’s Upper Eastside

is a collection of neighborhoods that have become increasingly popular over recent years. Miami Shores is properly a village in its own right but is part of the community of Miami overall. It was established during the first few waves of suburbanization and, though the city skyline of Miami is visible from this village, it still retains a homey, suburban feel. The village has its own government and is known as “The Village Beautiful”. It is home to its own school district and a university.

Homes for sale in Miami Shores

neighborhoods have recently drawn the interest of people who want to live in an area more attached to the central community than pre-planned suburbs typically offer. This is an upscale, exclusive neighborhood with beautiful views of the Biscayne Bay but it remains popular with the arts and design community. There are numerous single-family residences available in this neighborhood, many of them at prices which are surprisingly affordable considering the waterfront views and the pleasant and tranquil environs.

Miami Shores real estate

is very close to Miami proper. In fact, at night, one can easily see the skyline of the city illuminated against the horizon. That is, of course, provided they haven’t turned their head toward the bay and happen to be looking out onto the water. This mix of the urban and a beautiful natural environment is much of the reason that this neighborhood continues to grow in popularity and is also why this neighborhood is a good location for investment property.

Since 1940

Miami Shores has been the home to Barry University. This is a private, Catholic university which offers a broad range of classes. Liberal arts, teacher training, business degrees, nursing and healthcare are all available courses of study at this university.

Geographically, Miami Shores

faces east toward Biscayne Bay and lies to the north of Miami’s vibrant and bustling downtown. The location makes it easy to commute anywhere in the city and its feeling of being somewhat apart from the city itself makes it a good place to call home when commuting back in the evening. Homes for sale in Miami Shores comprise all types, from nice, single family residences to very upscale waterfront properties that offer the type of views and lifestyle most people have in mind when they’re considering moving their place of residence to the Miami area.