Miami real estate for sale

According to reports in the New York Times, the Government Accountability Office has found that federal regulators did a remarkably poor job trying to provide relief for families whose homes were in the foreclosure process. The report held that unnecessary bureaucratic delays were created by officials and that, on top of that, the reviews of loans that were in trouble were carried out by private consultants who billed too much and did very little.

The reporting held that, when having cases reviewed, the private contractors hired to take a look at loans that were in trouble and look for signs that homeowners had been kicked out of their properties improperly were not examined efficiently at all. In fact, only a very small portion of the foreclosed loans that were supposed to be reviewed were actually reviewed at all. In addition to not coming through on behalf of homeowners, the private consultants hired to review these loans racked up a total of $2 billion in fees. This, of course, has raised the ire of government officials and, predictably, of homeowners who are caught up in the foreclosure process when they should never have been.

Florida’s real estate market has been doing remarkably well in recent years, despite the fact that it was one of the hardest hit areas of the nation when the real estate market crashed not too many years ago. Many Miami homes were put into foreclosure and, even among real estate developers, there is still a great deal of discussion about how this happened. At a recent convention, one major South Florida real estate developer said that he felt that there was a certain breakdown of etiquette in the lending process, allowing homeowners to get a huge amount of funding whether or not they really had the means to pay that back. Of course, it was the mortgage writers who gave this money out, even though basic banking practices may have told them that it was a bad idea.

Return of the Affordable

Since the Miami real estate market has been picking up again, there has been a tremendous demand generated for affordable housing. Florida, South Florida in particular, is associated with luxury real estate. Some Florida real estate is among the most opulent in the world, in fact, and attracts people from all over the globe who want an estate property in an area that is undisputedly one of the most beautiful in the nation.

Even though that is the case, developers have increasingly been looking toward the affordable housing market as a good place to generate new revenue. As the Florida real estate market evolves, it may become more diverse, calming down some of the demand for housing in the affordable range and still preserving the vibrant Miami’s high-end real estate market that characterizes some of the areas of the state. Despite the fact that many homeowners suffered – and continue to suffer – as a result of the real estate crash, the Florida market is doing very well these days and people are hunting for housing again rather than being foreclosed upon.

Miami condos for sale

Miami Condos

Miami Beach, as well as other oceanfront areas such as Sunny Isles Beach, South Beach and others, are very well known as being places where getting condominium property is one of the most popular real estate buying options. There are numerous condominium towers located in these areas and all of them compete vigorously to attract new residents and to keep their existing residents. What attracts people to condominium living is complex. Condominium living allows people to have all of the luxury of an estate property with some distinctive differences that make it even more appealing to some people looking at the high-end of the market.

Miami Condo Living

is oftentimes characterized by having access to the same sort of amenities that one would find at a five-star resort. In fact, for many residents of condominiums, this level of service is expected. The most luxurious Miami condos offer valet parking, 24 hour security, private beaches, restaurants, fitness centers, spa, childcare centers and much more. This all makes it very easy for people to live in these properties, as they don’t have to drive to many different places to take advantage of all of those services.

Many of the people who live in condominiums live and work in their condominium properties. Most condominiums at the high end of the Miami real estate market provide a variety of business services to the people who live in the condominium properties. This is invaluable to people who still need to get work done but who may also be spending part of their year living in Florida to enjoy a more laid-back lifestyle, taken some time at the beach and so forth. Instead of having to go to Downtown Miami to get business done, many of the people who live in condominium properties are able to take care of just about everything in their own homes. Many of the condominiums being built today, in fact, are equipped with high-speed lines and other features that make it easy for people to move in, plug in and get to business.

Miami Oceanfront Condos allow a huge number of people to enjoy living close to the ocean. In this regard, they are enormously efficient. Despite that efficiency, however, people are still able to have a very private experience in their own homes. For example, most condominiums come with expansive balconies, at least at the top end of the real estate market. These balconies feel very private, afford people beautiful views and, in many cases, have plenty of room to entertain.

This combination of a private atmosphere combined with easy access to a lot of people to spend time with, to entertain with and to simply enjoy makes Miami condo living a unique experience that is very hard to mimic. For people who aren’t interested in having their own estate property, condominium living oftentimes allows them to get the same high-end real estate experience without all of the maintenance requirements that go along with owning a large estate, which is particularly attractive for people who don’t live in Miami year-round.

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.

Miami real estate

Miami homes for sale

When people think of Miami real estate

they probably tend to think about expensive homes, expensive cars and very expensive lifestyles. It’s no wonder. Miami is famous for being a magnet for celebrities from around the world. Successful business people and investors from around the world also make their homes here, oftentimes moving to the exclusive islands located nearby the city itself. According to reports in The Real Deal, however, affordable housing may play a much more significant role in the real estate market in the future.

Not Everyone Is Wealthy

The reporting points out that, despite the fact that Miami is so strongly associated with affluent lifestyles, a full 75% of the households in Miami have a total income of $75,000 or less every year. The same households tend to spend a lot of money on transportation and housing. This creates a natural demand for housing that is far more affordable and accessible than the exclusive homes that tend to make the news when they sell for multimillion dollar price tags.

Lopsided Development

Developers interviewed in the article mentioned that they don’t want to put all of their money into the type of development that defined the real estate boom prior to the crash of the real estate market. In that market, developers largely concentrated on condominium development and very high-end homes. Many of those same developers, according to the reporting, ended up with significant amounts of debt when the real estate market crashed and when people stopped looking to the high-end for housing.

Despite this, the article does point out that, Miami luxury real estate market has since recovered to new heights and now there is a significant demand for affordable housing. One developer use the metaphor of people lined up around a city block to describe how much demand there is for any affordable home that comes on the market.

Changing Ideas

Some of the developers in Miami most associated with high-end development are actually moving into low income housing and even Section 8 housing. Affordable housing, which is designed to be able to accommodate the incomes and lifestyles of the working class and middle class families, is also something that many developers are looking into as a way to boost their sales. Some of the developers, of course, already have experience working in this type of housing, which can only help with the transition.

As businesses have branched out into the affordable housing sector, competition has increased, of course. Developers, however, do note that there is a great deal more risk in developing luxury properties, including condominiums. Even though the profit margins may be lower with more affordable housing, there is so much demand for those units that it’s likely that developer stand to make more of a profit producing that type of housing.

Miami homes

are not likely to lose its reputation as a playground for the rich and famous, but the millions of other people that live in the Miami-Dade area may constitute one of the most promising real estate markets in the future.

Miami real estate for sale

Brickell Condos For Sale

For the 11th consecutive month, sales in the Miami area housing market continues to rise. This is a direct result of absentee buyers and overseas investors seeing the advantage of scooping up many of the deals offered in the local home real estate market. The average price paid for a Miami luxury homes has risen over 14% in the last 12 months. This is just one more indicator of the nearly 18 months of consecutive increases in the housing market of Southeast Florida.

Even sales month-to-month are on the rise. March sales on new and resale homes and condominiums rose significantly, to nearly 19% over February sales. There is also a significant rise in the number of sales from the previous year, up over 7%. While it is typical to have higher generated sales during both February and March, there is a significant change in the overall market, as demand continues to rise.

Continuous Sustainable Real Estate Growth

It was not that long ago when Miami served as the poster child when the bubble burst in the housing market. The entire real estate market in southeast Florida seemed to be the last to respond to the nation’s devastating recession beginning in late 2007. However, since then the numbers in both demand and prices are beginning to look up. While many “experts” believe that these rising numbers are nothing more than smoke and mirrors, there are indicators that the higher demand for housing in southeast Florida is real, and can provide a continuous, sustainable growth.

Many of the naysayers are indicating that over six out of 10 homes purchased in southeast Florida are bought by institutional investors, absentee buyers, and those looking to put their money in a solid real estate market in the US. Supposedly, many of these investors are purchasing homes in large numbers with the desire that the real estate values in southeast Florida will remain on the rise. Some of this might be true, in that there is a growing need for rental properties that can be supplied by these absentee buyers.

Either way, the news is great for the local economy. The stimulation of outside money, and the sales of many condominiums and homes that have at empty for years, can finally be filled. This will help increase local taxes, and bring new energy into many communities all across southeast Florida.

What Is Next?

While the price for a single-family detached house, per square foot, rose more than 17% from the year earlier, it might make it more challenging for the first-time homebuyer to achieve the American dream. This at least might be true in the Miami area.

However, with local developers eager to restart new home construction, the supply might quickly overcome the demand, and once again lower home prices. This in effect will reverse the situation, and make it affordable for nearly anyone eager to purchase a home to do so.

The Miami real estate market proves to be on the rise, with the come back from the recent recession finally beginning to show progress.

Miami Beach Waterfront Properties for sale

Oceanfront condos in Miami Beach

With the rise of the baby boomers heading toward the retirement years, and real estate investors from the Latin American countries, the real estate market in southeast Florida is in high demand. Many buyers are seeking out oceanfront and waterfront properties in Miami Beach.

For decades, developers had built up much of the raw land throughout the Miami Beach area to take advantage of the last real estate boom. It was not until 2007, when construction halted due to the recent recession. However, now that the tide seems to be turning in the southeast Florida real estate market, Miami Beach is seeing resurgence in both the need for waterfront and oceanfront properties, along with near-beachfront condominiums and homes.

The real estate market in southeast Florida has always been buoyed by tourism, and the ever increasing demand from retirees hoping to find better year-round weather. Miami Beach is always served as a pivotal city in the area, and has served as an entertainment and cultural epicenter for decades. Its year-round weather is remarkable, as it embraces the cool waters of the Atlantic, and the sub tropic heat pushed upwards from the Caribbean islands.

A Solid Miami Beach Real Estate Market

Miami Beach has served as a major tourist spot for anyone interested in spending time in South Florida. The real estate market has always been solid, even through harsh economic times. As a result, many beachfront and waterfront condominiums and homes have been developed in an effort to meet the ongoing demand of investors and vacationers looking for vacation or permanent homes in the area.

The Miami Beach area is an ideal location to experience all the rich diversity of southern Florida. It provides an easy lifestyle with year-round phenomenal weather, and one of the few places in the US to enjoy golf every day of the year.

Miami Beach offers miles of beautiful beaches that are all available within walking distance. The convenience of the Atlantic Ocean is enjoyed by all of the Miami Beach residents that are here to spend the winter months, or on permanent vacation in southeast Florida year-round.

A Shift to the Miami Real Estate Market

There has been a major shift in the real estate market in southeast Florida, just within the last year or two. Many overseas investors are still eager to get their hands on an up-and-coming real estate market in the Miami Beach area. As many more individuals move into town every day, there is a higher demand in the home and condominium rental market, which suits the real estate investor to a tee.

Likewise, the market is quickly accommodating many of the retirees, and individuals hoping to purchase the real estate at a low price, so it is ready for them in the next few years when they retire.

Fortunately, there are still many great oceanfront Miami real estate deals still available. Prices on residential properties all through Miami Beach are still significantly lower than they were during the last construction boom.

Miami Beach real estate

Miami Beach Homes for sale

When you think of Miami Beach homes

chances are good the name conjures images of white sand beaches, swaying palm trees, elegant dining options and exciting nightlife. Miami Beach is all of that and more – it’s an amazing place to call home. What’s more, you’ll find Miami Beach homes on offer that offer tremendous luxury within a broad range of different price points. This ensures that anyone can find an amazing place to live in this exciting area. Here’s a look at some of the options available.

Aqua Allison Island

Aqua is actually a private island and the home at 6103 Aqua Avenue (unit 506) lies within a private, gated community offering the utmost in terms of privacy, as well as peace and quiet. The unit is up for sale with a price point of $1,150,000 and features three bedrooms, three baths and a total square footage of 2,347. Built in 2004, the condominium is one of the newer options available on the market, and the unit features an oversized balcony, top of the line kitchen appliances and comes with two parking spaces, which makes it ideal for families.

Another great property for sale is located on Dilido Drive. This stunning two-story home is the epitome of Miami Beach living. It features a Mediterranean style, complete with mature palms. The interior of the home is decked out in lavish marble, and features custom cabinetry, marble counters and 26-foot ceilings with correspondingly tall windows on the walls facing the water. It also comes with a saltwater infinity-edge pool ideal for relaxing at the end of the day or entertaining, and provides views over both Biscayne Bay and the city of Miami proper. With parking for three cars, this is one of the most opulent Miami Beach homes on the market, and can be had for $8,200,000.

Murano at Portofino

The Murano South Beach is one of the most acclaimed condo properties in the area, and this mansion is available for less than you might think. Combining the services and amenities of a condominium property and the independence of a single property, the Mansion at Murano is available for just over $4,500,000 and is one of the most opulent Miami Beach homes on the market currently. With three levels and waterfront access, combined with a private two-car garage and a terrace on the roof, it simply doesn’t get much better than this.

Finding Help with Searching for Miami Beach Homes

Of course the properties listed above, while opulent and luxurious, are just the tip of the iceberg when it comes to what’s available in terms of Miami Beach homes on the market. You’ll need the assistance available from a renowned realtor – that means ONE Sotheby’s International Realty. Whether you’re looking for a place to call home within walking distance of SoFi, closer to South Beach or on the Intracoastal Waterway, this real estate agency can help you find the perfect home for your needs. There’s no better choice than the area’s leading authority on luxury homes.

Miami Listings For Sale

Porsche Tower Condo

The Miami real estate market

continues to show progress. Broward county overall showed inventory absorption with an 18% decrease in the number of properties for sale over the first quarter of 2012. Sales showed a slight increase while prices rose on average 13.7%. The Miami-Dade overall outlook is similar with a slight uptick in the number of sales while price per square foot jumped 15.2%.

Turning to the luxury properties in Miami, residential properties in the $1–5 million range showed sales increases around 30% over the same quarter last year, outperforming the $5 million plus market and the $500,000 – $1 million bracket, which saw modest increases.

The Miami single family home market jumped 40%

in the number of homes sold, while prices increased 7.5%. The condo market posted gains as well, with the average price per square foot now averaging $721. The 33160 zip code area, which includes Sunny Isles and Aventura, continues to be the leader in the number of units closed, with a whopping 72.7% increase in sales over the first quarter last year while prices increased 8.3%. The Coconut Grove / Miami / Brickell market also saw big increases and the average price per square foot is hovering at the $500 mark.

In Broward county, the condo market in the $1–5 million range increased a dramatic 85.7%, sounding the signs of real recovery, where prices overall are still lower than most Miami-Dade markets.

The increases in this segment of the market show the return of the working wealthy, who have been mostly absent from the recovery so far. These buyers join a good number of foreign buyers still in the market primarily from Brazil, Venezuela, Canada and Russia. The emergence of financing in this market also contributes to the increases. Although the majority of sales are still cash, financing to these well qualified buyers is available from a variety of lenders.

Read our 1st Quarter 2013 Report »

North Bay Road Miami homes for sale

N. Bay Road real estate

Interesting things have been happening for New York Yankees baseball player, Alex Rodriquez. Better known as A-Rod, this pro player is a fan favorite and he recently had his Miami home on the real estate market. This mansion style house includes 19,861 total square feet located on North Bay Road, right on Biscayne Bay.

The home, with the address of 4358 North Bay Road in Miami Beach, has a wide variety of features and amenities, like:

• A full sized gym
• A built-in sauna
• A steam room
• A full sized swimming pool
• 16 security cameras
• And much more

It may seem like a surprise that A-Rod decided not to sell at this time. However, since the real estate in Miami appreciates so quickly, it might be a wise decision. He left it for sale for a while, but at $38,000,000 it did not find buyers, but found renters.

Not just any renter could choose to pay the price for this house. Reportedly, the lease is for $125,000 a month. It seems like only another star or baseball player could afford it. However, an interesting group has taken residence in the mansion: royalty.

According to sources, the renters of Rodriguez’ mansion are Saudi princes. Of course, this makes sense with an American house fit for royalty. The only change that the princes have made is to bring in more air conditioning. Reports are that the princes chose to add a total of four all-new units to ensure the large house is as comfortable as possible.

Perhaps the reason why this gained so much attention would be the cavalcade of black Escalades that have recently been seen parked in front of the mansion.

By renting out his home, A-Rod can get steady money from the residence and then wait until the market reaches a higher upswing before attempting to sell it again. More and more developers and investors have found themselves doing the same thing in the hope that the market will continue its turnaround.

The good news is that experts say it will. Hopes are that the market will be on a long-term upswing with no new crashes or bubble bursts. This means more people will be buying and more investors will be selling, opening up the housing market extensively. People can expect to see housing prices going up and more buyers paying closer to the asking price than they once would have.

It’s not every day that a professional baseball player rents out his home to princes, but it does happen. It seems true that A-Rod’s mansion was actually fit for a king. With a hefty rental tag, it would take a prince to pay the lease on the house.

Miami real estate for sale

Miami real estate

Not too long ago, everyone was a little afraid to buy any type of property. This real estate downturn led to a big problem for developers and for anyone who wished to sell their property. However, things have changed and the housing market all across the country has begun a new cycle. Of course, this leaves many wondering, will there be another bubble? With the problems of the past, it only makes sense to be wary. However, real estate experts and developers all indicate there is nothing to fear.

The Words of Don Peebles

For instance, Don Peebles, who is the chairman of the Peebles Corporation, is one of the most renowned developers of the day. Recently, he spoke out on the Fox News Channel’s, Neal Cavuto Show, with his own reaction to the real estate boom. According to Don, there will be no bubble now or in the future. Instead, he says that the housing recovery will be ongoing and long-term. This will lead to a continued rise in the housing market and numerous new developments across the country. Peebles says that now is the time to get into the real estate market. This way, as housing prices continue to go up, anyone who has invested will be able to enjoy the higher value.

How the Boom Effects Miami real estate

Peebles, and other real estate developers, all say that Florida and South Florida are the places to develop properties. That has to do with higher sales taxes in states like New York. More businesses will choose the lower cost areas like Florida in an attempt to save money.

As more people move to the Florida area, this will put a greater demand on available real estate. Of course, this will push prices higher and continue to provide successful ventures to real estate developers.

Of course, this is good news all the way around for Florida. As developers take greater interest in the area, they will propose new projects, spend more money on property, and bring new industry.

Experts Believe in the “New Boom”

Experts in the real estate market aren’t just talking about the long-term effects of the real estate boom either, though. They are taking action because they realize just the opportunity that is currently presenting itself.

Peebles himself just recently proposed a development for a 13,500 square foot building to be located in Harlem, New York. With his real estate expertise, obviously, he wouldn’t build if he didn’t feel confident in his advice. This should give anyone the courage to invest in real estate as well.

Whether you are mildly interested in the real estate in Miami or other markets, or you wish to become a developer, now is the time to buy properties and get into construction. The country is on the cusp of what should be a long-term boom. That means properties will continue to go up in value as the years roll by. Anyone who invests now will see excellent returns in the coming years. This is especially true for states like Florida, who will likely see the most out of the upswing.

Content published by Lana Bell

Content published by Lana Bell