Miami condos for sale

For the fourth year running, Miami has shown record-breaking tourism numbers. The tourism numbers are in, and Miami-Dade played host to over 14 million overnight guests in 2013. If the rest of the country – or the rest of the world – is experiencing lulls in tourism due to a slumped economy, you couldn’t tell from looking at Miami. Not only has Florida bounced back from the recession caused by 2008’s housing crisis, but Miami real estate is showing better numbers than ever. What’s driving it?

The actual number of visitors to the Miami area only increased by about 2.2 percent over 2012. However, tourism expenditures increased by more than twice that, at 4.6 percent. That’s a record $22.8 billion that came into Florida from tourism.

Getting a Reputation for Luxury

Tourism bureau president and CEO, William Talbert III attributes this increase in expenditures to changes in the city. Miami has garnered a lot of attention over the past few years, and it’s becoming known, more and more, as a luxury destination. That means that more people with disposable income are likely to come to Miami and spend their money in and around the city.

However, our fair city’s reputation for luxury is a bit of a double-edged sword. If that reputation goes too far, Miami will be seen as a playground for the very wealthy, closed off to the middle class. This could result in tourism numbers dropping.

Fortunately, the city of Miami has been hard at work, with marketing campaigns all over the world. The tourism board is not just interested in making Miami a destination for US residents. It wants Miami to be a serious international vacation destination.

Becoming an International Destination

Domestic tourism numbers weren’t the only ones going up in 2013, either. The number of visitors from Venezuela, Argentina, and Colombia increased by 4.4 percent, reaching just over 7 million visitors. In fact, international tourism is really the reason that Miami saw another record-breaking year. If you look at the breakdown, domestic tourism only increased by about a half of a percent.

Miami’s tourism board members know that if the city wants to see future increases in tourism that the marketing focus has to be outside the United States. Domestic travelers often think of Miami for a fun, sunny, vacation with beautiful beaches all day and tons of chic urban shopping, dining, and clubbing at night. To really grow the numbers, Miami will have to appeal to international travelers, and the tourism board is already on it.

Though Europe has been experiencing a minor recession, marketing campaigns aimed at European tourists have already brought an increase in visitors from the UK, France, and all over Europe. The tourism board is also hopeful for emerging tourist markets in India and the Middle East. In fact, as of June of this year, Qatar Airways will have 4 flights per week to Miami, opening up a previously totally untapped market for Miami tourism. The future is bright for domestic and international tourism to Miami and even brighter for Miami condos (CLICK HERE TO VIEW THE SITE)


Miami condos for sale

Sunny Isles Beach has a reputation for new oceanfront luxury high-rise condominium community of the 21st Century and, in that regard, it seldom disappoints. Sunny Isles Beach real estate (click here to view the site) as well as other parts of Miami presents one of the most attractive luxury real estate markets in the world. In fact, it is so attractive that it brings people from all over the world and, in part, that is what inspires me to be a real estate broker in this affluent, diverse and exciting real estate market.

ONE Sotheby’s International Realty is of the most prestigious real estate firm in the world and speaks directly to the market for luxury properties. To offer better service, I am a Certified Luxury Home Marketing Specialist and a negotiating expert, which gives me the necessary knowledge to help clients meet their goals with their property purchases, which is one of the things that truly makes working in real estate worthwhile. A property is so much more than another acquisition. While a property can be a great investment, at some level, it is always a home and helping clients to find exactly the property they wish to call their own is incredibly motivating.

A Great Market

The Florida real estate market is definitely heating up again, according to multiple sources, including the http://www.miamiherald.com/business/real-estate/ Miami Herald. There are great opportunities for people to make investments in this market, and with people from all over the world being attracted to Miami real estate, I’m able to take advantage of my global connections, the resources I have at my fingertips and my expertise in this market to help people find exactly the properties they want. Ideally, I’m able to bring together the perfect property and the investor who will appreciate it for what it is and be able to turn it into something that is uniquely their own.

Diversity

I have a staff of 20 expert agents who understand the cultures of people to whom we sell and who speak the native language of the buyers. That includes people who speak fluent Russian, Portuguese, Chinese, Hebrew, French, Spanish, Italian, German and Swiss. With a great deal of cultural knowledge and the ability to speak to people in their own languages, we are able to make certain that the investments that international buyers are making in the Miami areas is understood to the greatest degree of detail and that buyers can proceed with confidence when they find a property that they want.

The Deal

Of course, completing a real estate deal means more than being aware of the culture of your client and being able to speak the language. The language of real estate itself is something that requires skill to understand and I endeavor to make certain that my clients always get the best deal. That means that I leverage my knowledge of the local real estate market to enable my clients to take advantage of the best possible timing to make their deal and that I bring to the table the negotiating skills that I have developed over many years as a broker.

Above all other things, I find inspiration in helping my clients. As this testimonial reveals, I do everything I can to give my clients the best possible experience and the best possible investment.

“We had a fantastic experience working with you. We’ve never felt any pressure at any time and your experience and in-depth knowledge of the building as well as the local real estate market, made us believers. We couldn’t be happier at Turnberry Ocean Colony. You’ve been a pleasure to work with and a bright spot during this delightful process.”
-Evan Y.


Miami condos for sale

Is the condo market in Miami saturated? In January of this year, over 10,000 condos were actively listed in the Miami metro area. The spike in listings was reported back in January, by the Miami Association of Realtors. Analysts have noted that buyers have gained steam, as well as listings, though. So, is the market actually saturated, or are we seeing a spike that will even out as more buyers purchase these listed condos? (CLICK HERE to view all currently available condos for sale in Miami)

Currently, as the economy has stabilized and developers have gained confidence in the market’s future, there’s more competition than there has been in the last few years. Not only are condo owners putting their units up for resale, but there are more new construction and pre-construction units for sale on the Miami market than there has been since before the housing crisis in 2008.

Not the “Glut” You’re Thinking Of

The term “glut” is on the tips of a lot of tongues in the real estate world in Miami right now, but it’s not because of a lack of demand for properties. It’s because buyers are being given so many more choices than they’ve had in over six years. The upshot of this is that different buyers, representing different markets, will be attracted to different properties and different features.

Buyers from South America tend to be attracted to the newly constructed condo towers, with their new styles, amenities, and features. Long-time Miami residents may be more attracted to a neighborhood with the best schools or to a place near a park where they grew up. These are just two examples of the different types of buyer pushback you’ll see with this very unique type of condo market glut. However, according to the market stats, there’s nothing to worry about. The first quarter of the fiscal year is a very popular, “in season”, time of year for the housing market in Miami. This is the time of year that potential buyers traveling to the city on vacation so that they can check out new constructions, condos for resale, and neighborhoods where they might want to live. The large inventory of condos for sale during the height of the season is nothing to be worried about.

Resale Prices Are Up

In January of this year, Miami-Dade County showed significant gains in both condo sales and sales of single-family homes. (CLICK HERE to view all currently available condos for sale in Miami) This went against the plateau that the rest of the country was seeing at the time. While there may have been a lot of condos listed on the market, there were also a lot of condos being closed on. In fact, there were significantly more than were selling in January of 2013.

At the same time, the median for condo prices rose by about 20 percent this past January, and single-family homes rose by 16 percent. That means that, though at first glance the market looks saturated, that’s just simply not the case. Though a lot of developers and individuals are listing their properties, a lot of buyers are interested in those properties.

The trend is up in Miami condo prices and property values, and it doesn’t look to be going back down any time soon.


Miami real estate

New York City’s financial district is moving to Miami. With the appeal of lower taxes, cost of living, gorgeous weather, beaches, and a number of other advantages that south Florida has over the icy Northeast, it’s no wonder that Miami is booming with finance and business.

It’s no accident that Miami has become the second largest financial hub in the United States, right behind Manhattan. The city has a very finance-friendly atmosphere, and the Miami Downtown Development Authority is working hard to attract more bankers and business people. The Authority has even launched the DWNTWN campaign to attract more finance business to the city.

More and more investors, bankers, and financiers are moving to Miami, and not just the little guys, either. Founder of Universa Investments, Mark Spitznagel has moved his business south, stating that Miami provides the perfect environment for Universa to expand and thrive. Spitznagel isn’t the only one, either. Rumor has it that Leon Black and Lloyd Blankfein have also recently purchased condos in the Miami area.

So what sets Miami apart from anywhere else in the world? Let’s take a closer look at some of the city’s many attributes.

Lower Taxes Mean Better Profits

Florida doesn’t have any capital gains taxes, individual income taxes, or estate taxes. That means, when you do business in Florida, you keep more of the money that you earn. When hedge funds are based in Florida, they can expect to pay a significantly lower tax rate, as they’ll only have to pay the federal government, rather than both state and federal, in these areas.

More Space to Stretch Out

Everyone knows that real estate prices in New York City are at a premium everywhere you go. People who, anywhere else in the country, would be able to afford to live in a full-sized house with a yard, cram themselves into shoebox apartments with multiple roommates. In Miami, investors and business people can afford spacious condos or houses (view Miami condos for sale here) that are close to both work and play. In addition to this, Miami’s cost of living is a full 10 percent lower than the cost of living in New York.

Don’t Forget the Weather

While everyone on Wall Street is bundled up in layers upon layers for six months out of the year, in southern Florida, the weather is almost always sunny and perfect. The average temperature for the area, all year round, is a balmy and comfortable 76 degrees Fahrenheit.

Luxury Galore to Impress Clients and Investors

If you’re looking for a place to take your clients and investors to impress them, you’ll have all kinds of options. Miami is packed with the hottest nightclubs in the country and the best five-star restaurants in the world. Better yet, the city boasts the largest port in the world.

October through March is the prime season for yacht parties, charities, and benefits. When you entertain your guests and investors, you can take them away from their winter woes and out on a luxurious cruise with a warm wind in their faces. Your clients and investors won’t ever want to go home. Chances are, they’ll want to move to Miami, too.

To view all currently available properties in Miami please CLICK HERE


Miami commercial real estate

A $225 million transaction in Pembroke topped the multifamily stats for this year. The sale was for a 1520-unit community known as the Resort at Pembroke Pines. The sale was completed by the Carroll Organization, out of Atlanta.

Although the property was a bit rundown and outdated, the Carroll group developers were still interested in picking up this apartment complex, despite the fact that it is not quite as modern or stocked with amenities as newer complexes. This demonstrates that investors are interested in apartment complexes that already exist, rather than just having an interest in developing new apartment complexes.

Lower The Risk

According to reports, the prices of land in Florida have been going up and the costs of development have been going up, but growth as far as rental income goes is slowing. This means that, for developers, there is less risk involved in purchasing existing properties than there is in developing new properties, a process which can take two or three years to complete. The reporting states that, of course, in two or three years, the market can be remarkably different than it is at the time the development starts, adding an element of risk to the investment.

Stabilizing Market

While growth in the Miami commercial real estate market may be picking up, economic indicators show that the typical cycle of booming and busting in the South Florida real estate market may be between 7 and 12 years. With investors moving in from all over the world – Latin America, Russia, Europe, etc. it has proven to be particularly rich with people looking to make investments in South Florida real estate – real estate prices have largely stabilized and luxury properties are selling well again.

What’s Out There

South Florida may be principally known for its very high-end, upscale luxury real estate properties, but there are still many distressed properties on the market and, as this transaction shows, properties that may be a little bit outdated, but that could become very attractive provided they were given a bit of renovation. For some commercial real estate developers, it’s more attractive to invest in a property such as these, simply because they do not have to go through the development process or take on any of the extra risk associated with that process.

As the South Florida real estate market continues to grow, there are likely to be many very attractive deals that come available on the market, but it generally requires a skilled real estate agent for clients to be able to take advantage of these properties. We provide a list of Miami’s most expensive condos and Miami’s most expensive homes for sale and give forecasts about the market in general, both of which should be of great interest to individuals looking to invest in the luxury properties available in a South Florida market or, in fact, some of the older properties that could be very good investments with a little bit of redevelopment.


Miami luxury real estate

It’s hard to believe 2013 is almost over. It has been an exceptional and very exciting year for the home-owners in the Miami area. From Palm Beach down to South Beach, the overall cumulative gain was about $50 billion dollars, as well as about $85 billion property value increase. The overall combined tri-state area residential real estate has surged to about $650 billion. As was reported by Sun-Sentinel, before that, the residential values declined for five consecutive years.

Some of the most notable South Florida sales in 2013 include:

1. Howard Stern, New York shock jockey buys Palm Beach compound for $52M, making the most expensive residential purchase in South Florida in 2013.
2. Palm Beach mansion sold for $42M to resolve bankruptcy
3. A-Rod sells Miami Beach mansion for $30M (netting $15 million profit)
4. La Gorce Island home sells for $30M sale, setting new record for that area
5. Eagles owner pays $28.5M for Palm Beach mansion
6. Setai condo fetches $27M in record sale
7. Tony Robbins gets Manalapan home for nearly $25M
8. Icon South Beach condos sell for $21M
9. Palm Beach spec house sells for $20M
10. Golden Beach home sells for $17.3M

But what will 2014 hold for Miami real estate owners? In short, home sales are expected to retain the healthy gains seen this year, while prices will continue to stay on an uptrend in 2014, according to a forecast presentation at a residential forum during the 2013 Realtors® Conference & Expo.

Chief economist of the NAR (National Association of Realtors®) – Lawrence Yun, stated that existing home sales have climbed about 20% over the past two years, while prices have gained 18%. Yun said: “We’ve come off of record high housing affordability conditions in the past year, and are now at a five-year low, but conditions are still the fifth best in the past 40 years. While the median-income family in many areas will still be well positioned to buy a home in 2014, income is barely budging given growth in consumer prices.”

Another point expressed by L. Yun include limited inventory conditions in many areas and mortgage lending standards that are still unnecessarily stringent. “Although home sales have recovered over the past two years, mortgage purchase applications have been flat for the past four years, even with rising sales.”

Given the higher mortgage interest rates, he expects refinancings to collapse in 2014 to the lowest levels in at least 15 years, and hopes purchase applications will begin to rise. This is an incentive for banks to increase mortgage origination, especially considering the low default rates in recent years. But even with cheap mortgages for the past four years, all-cash buyers stayed high, accounting for over 30 percent of sales.

Limited supplies were the biggest factor in price performance in the past year, with inventory bouncing around 13-year lows, and seriously delinquent mortgages have been trending steadily down. The national median existing-home price for all of 2013 will be up just over 11 percent, to about $197,000; then increase nearly 6 percent next year. Existing-home sales are forecast to rise 10% to nearly 5.13 million, but should hold fairly even at about 5.12 million in 2014.

Housing stats are projected to hit 917,000 this year and reach 1.13 million in 2014, which is still well below the underlying demand of about 1.5 million. New-home have totaled around 430,000 in 2013, and expected to grow to about 510,000 next year.

Inflationary pressure may begin to build during the course of 2014, with consumer prices projected to rise 2.7 percent, but Yun said inflation could reach 4 to 6 percent in 2015. Mortgage interest rates are expected to trend upward and reach 5.4 by the end of next year.

Yun projects the GDP (Gross Domestic Product) to grow to about 1.7% this year and 2.5% in 2014. “If not for the housing recovery, we could be on the verge of a recession,” Yun noted. “The rent component of inflation is rising, so the only way to tame price growth is new home inventory.”

Since the economic downturn, 8.8 million jobs were lost, but only 7 million have been regained. “We need another 6 to 8 million jobs to get back to normal,” Yun said. The states with the fastest job growth are North Dakota, Utah Idaho, Texas, Colorado, Minnesota, Georgia, Washington, Arizona and New Jersey. The unemployment rate is projected to decline to about 6.7 percent around the end of next year.

Based on the forecast, the top 10 markets to watch for a growing housing turnaround in 2014 include Miami, Naples, Tampa, Salt Lake City, Atlanta, Boise, Houston, Charlotte, Denver, Seattle and Tucson.

The National Association of Realtors® is America’s largest trade association, representing over 1 million members involved in all aspects of the residential and commercial real estate industries.

We would like to wish you all a great holiday season surrounded by your loved ones. May your holiday be filled with love, peace, and happiness!


Miami real estate

New Yorkers have always been strong buyers in the Miami real estate market, but they seem to be making their presence known now more than they have in recent years. According to reporting in BizBrag the share of buying done by New Yorkers in recent developments in Sunny Isles and the surrounding area has gone from 10% up to 25% in the last year.

These numbers are for luxury real estate and, of course, Miami has a very strong reputation as a market that attracts buyers at the highest end of the real estate market. There are many features to Miami real estate that make it ideally suited for New Yorkers, and that has likely contributed to them buying up a great deal of the real estate, particularly over the last year.

Prices

While Miami may have an affluent real estate market, it is still generally more affordable – even at the very high end – than New York City. As the article points out, there are luxury properties available in the Miami area that will sell for approximately $700-$900 per square foot. Contrast that with New York, where it is easy to get into prices that are over $1000 for each square foot of property purchased. This makes Miami very attractive to affluent New Yorkers who are looking for something that is definitely a luxury property but who don’t want to pay New York prices for it.

Culture

Culturally, Miami and New York do have a lot in common. For instance, many of the luxury properties in the Miami area are located in areas where it is easy to get around on foot. Of course, New Yorkers are very familiar with this and it meshes nicely with the lifestyle that they are used to. Everything from upscale shopping to theaters, restaurants and most anything else can be found within walking distance of many of the most prestigious developments in the Miami area. Unlike New York, it’s also usually a very short walk to the beach and, of course, the water is always warm and the weather is almost always sunny.

Miami is an enormously diverse city, as well. This is something that New Yorkers are sure to appreciate, given that New York is so famous as a center for business and culture. Over the years, Miami has become one of the most popular places to invest for affluent foreign individuals, and there are great opportunities to live in a community that is diverse, vibrant and, quite simply, a lot of fun.

Like much of the rest of the country and nations beyond, New Yorkers are rediscovering what Miami real estate has to offer. Whether one is looking for a very exclusive place to call home or wants to live someplace that is very casual, but still very luxurious, Miami makes that possible. With so many New Yorkers entering into the real estate market, there is yet another sign that the real estate market in Miami is vibrant and picking up once again.

Check our website for a complete up-to-date Miami real estate market analysis: http://www.sunnyislesmiamirealestate.com/


Miami Beach Preconstruction Condos For Sale

Miami Miami Beach Condo

Miami Beach is home to the newest construction project, Marea Miami Beach. This two-tower construction offers a residence right on the waterfront from the Related Group, Sieger-Suarez and Yabu Pushelburg. The 30 residences available embody modern living and provide a location close to everything. Preconstruction prices make this new residence an easy choice for those looking to live in a modern and luxurious new building that is close to it all. Located in the highly sought after area of SoFi (South of Fifth), this is an address you will be happy to brag about.

Residence Features

The residences at Marea Miami Beach allow you to fully enjoy living on the waterfront. All exterior walls are made entirely of glass to provide a view of the water and city. Enjoy the view from inside, or step out onto the massive terrace to allow the feel of coastal living envelop you. The glass railings and wide terrace space provide you with enough space to have dinner or to relax on a patio chair depending on what you are in the mood for.

The luxury modern appointments of Marea Miami Beach are made even more enjoyable with the high ceilings. Hang a large mural or construct a large bookcase with the large space you have available to you. The open air helps you to feel comfortable and at ease no matter what kind of décor you are going for inside of your residence.

Kitchen spaces are created with the modern cook in mind. Spacious cooking areas and modern appliances make it easy to cook like a gourmet with enough space to keep all of your small appliances and ingredients handy and ready for use.

Choose between 2, 3, and 4 bedrooms ranging from 1,525 square feet to 2,336 square feet. Marea Miami Beach even has four penthouse residences available for those looking to enjoy the best.

Building Features

Each tower of Marea Miami Beach has an expansive roof with gardens and sitting areas. The angle of the towers allows you to enjoy a good view of the water and the city. Walking around the building allows you to enjoy the well-kept landscaping. When you are ready to enjoy some time at the beach, you can enjoy access directly from the building.

In addition to being a great place to live, Marea Miami Beach puts you close to it all. You are conveniently located close to Prime 112 and Nikki’s Beach just to name a few of the offerings you can enjoy. South Beach and everything else the area has to offer means you can enjoy unparalleled shopping, dining and entertainment.

Living in a resort style atmosphere between the bay and the ocean is a wonderful way to make a home. Marea Miami Beach is your destination for living in luxury with everything the water has to offer. You can enjoy preconstruction prices when you purchase one of the apartments available today. Construction is set to be completed in 2015.


Miami Beach condos

Miami Beach

is one of the most popular places to live for people looking for condominium properties. According to The Real Deal, Miami Beach real estate has been selling at a very fast rate. At the same time that sales have picked up, the rate of price appreciation has slowed, making the condominiums more accessible to people and ensuring that the market remains attractive to new investors.

The Perception

The numbers show that investors still see Miami Beach as a great place to buy real estate for value. This is the case, even though the prices of real estate have gone up over the last four years. According to the numbers, that hasn’t slowed interest in properties and, in fact, with prices appreciating more slowly, it is possible that more people will be looking into property in this area and Miami Beach has already proven to be attractive to people from all over the world looking for great property.

According to the article, the sales for condominiums went up 21% from August 2012 to August 2013. Single-family homes saw even more activity, with the closed transactions for single-family homes going up 38% between August 31 of 2012 and August 31 of 2013. That impressive rate of growth, according to the reporting, really does show that people are very interested in Miami real estate.

Where Are They Coming From?

Miami real estate has always been popular with affluent individuals. What’s notable about the situation right now is that Miami real estate is attracting people from all over the world, not just the United States.

This year, French buyers have become a very strong force on the market, as have buyers from Canada. Experts believe that the French buyers are, to a great extent, motivated by the fact that the taxes on wealthy individuals are much lower in Miami than they are in France. Canadian buyers, of course, are, at least in part, looking at Miami real estate because of the very enjoyable climate that it offers.

The highest average price paid for condominium properties went to Apogee in the South of Fifth neighborhood, according to the reporting. This condominium sold for an average of $2371 per square foot.

Luxury properties located in Miami Beach and surrounding areas, such as Sunny Isles Beach, Bal Harbour and other areas known for affluence and great properties are moving quickly and having a good realtor is vital.

In the Miami Beach real estate market, there is most certainly competition for good properties. Being able to find the right property for your family is the first step in calling Miami Beach your home. With experience and the ability to work with people from all over the world, a good Miami Beach realtor will be able to find exactly the property that you are looking for, whether it happens to be a condominium or another type of property, and ensure that you get the best possible deal on the property.


Miami real estate

Sunny Isles Beach real estate

Miami real estate and South Florida in general

may be looking at an end to the boom and bust cycle in the real estate market. According to reporting in the Miami Herald and an article in The Real Deal, the boom and bust cycle may be coming to an end because of an influx of cash from Latin America, which has boosted the South Florida real estate market and brought with it the promise that wildly fluctuating real estate prices may be things of the past.

International Buyers

Latin America has, while the US has endured a financial crisis, done quite well because of the prices of commodities. Those commodity prices have enabled wealthy individuals in those nations to seek out real estate in other nations and Miami is one of the most sought-after locations by such individuals. Miami, of course, already has a famously international flair, making it an easy place to move if you happen to be from abroad.

According to the reporting, there still is some skepticism about whether or not the boom and bust cycle will truly come to an end and, given the financial damage that the last bust did, it’s not hard to understand why people might have said skepticism. In fact, also according to the reporting, some developers believe that Miami is actually still in the throes of the real estate bust. The reporting reveals that there is a shadow inventory of homes and that distressed homes are still on the market.

Nonetheless, many real estate developers and experts remain hopeful that the steady influx of money from Latin America will buoy the real estate market and lend needed stability to property values in Miami, something that would come as welcome news to people who have invested and people who are still looking to invest.

Appealing Properties

Miami’s real estate market has numerous upscale properties that have significant appeal to wealthy investors from abroad. High-rise condominium developments remain very popular, with oceanfront properties often times bringing in prices well into the millions of dollars. In addition to this, fully half of the people who buy real estate in Miami are looking for a vacation property, meaning that moneyed individuals are looking for a second city to call home and, of course, Miami has always had a great deal of appeal in that regard, given the sunny weather year-round and the easy access to beaches and plenty of other diversions.

Real estate ups and downs are natural parts of the market anywhere, but Miami has endured some of the harshest boom and bust cycles over the years. With more people moving to the city, particularly people from abroad who bring with them a great deal of capital to invest, that boom and bust cycle may finally be coming to an end for good. Regardless, the real estate market in Miami has picked up considerably over the past few years and, despite the skepticism voiced by some analysts, appears to be making a very healthy recovery as the real estate crash becomes further and further in the past.


Content published by Lana Bell

Content published by Lana Bell