Florida real estate for sale

A few short years ago, the real estate market was in a substantial amount of trouble. Home prices were dropping, people were unable to buy and to keep up with their mortgages, and it was a bleak time for most. Fortunately, the economy has strengthened, and things have started to change quite a bit for buyers, sellers, and real estate professionals. The prices of homes are going up around the country, and this means that the market is recovering nicely. Some feel that it’s already back to the point before the last storm, and that the additional safety measures in place today will reduce the chance of another crash.

Prices Going Up

When comparing the home prices across the country from November 2013 to November 2014, you can see that there is an increase of 5.5%. This is no small amount, and it’s important to remember that this is just an average of all of the states. In some areas, such as South Florida, the prices are doing even better. Look at the Miami area, for example. Prices are up by about 8% in the same timeframe, and it doesn’t appear as though the price increase will be slowing anytime soon.

It’s important to remember that even though the prices are getting higher and more favorable, things are not quite back to the same levels prior to the recession. For example, Nevada, Florida, Arizona, Rhode Island, and Connecticut still have a long ways to go before they are able to match those previous prices. Still, most experts feel as though the prices will continue to go up for a number of reasons. See Florida real estate here: http://www.sunnyislesmiamirealestate.com/

Buyers from Around the World Want US Property

They feel that any lulls in price increase will only be temporary, and that the prices will keep rising as more and more people start to get into the market to buy homes. There are plenty of domestic buyers who have an interest in the South Florida area, and they are starting to look into new properties. New Yorkers, for example, find that even with the increased prices for Miami homes for sale, the cost is far less than what they would be paying for properties in NYC.

It’s not only domestic buyers who have an interest in purchasing properties in the US though. In fact, there are many buyers from China, South America, Europe, and Russia who have quite a healthy interest in the Miami area, and they are starting to snatch up properties. Some are looking to move to the US, while others are looking for vacation homes. Some are investors. There are many reasons to buy, and this is helping to push the demand for properties in the area.

Even though there is a surplus of properties in some locations, that’s not stopping developers, who know that the demand is continuing to grow. Many new luxury condo towers are going up in Miami all the time and buyers are trying to get in on the action now, before the prices go up even further.


Miami real estate for sale

Several years ago, when the United States was in the grips of the Great Recession, things were looking rather bleak for a large number of people at every economic level. People were losing jobs and finding it difficult to get more work. The financial bubble the country lived in burst and the economy, the stock market, and the real estate market fell quickly and deeply. They fell to a level that made it seem almost impossible to recover fully. It was a very frightening time for a number of people in the country. They lost homes, marriages, and their livelihood. It was the biggest financial fall the nation had suffered in many decades.

Now, years later, things are really turning around in a good way. Most of the experts agree that the United States is seeing a large surge when it comes to recovering. The Federal Reserve even certified that the economy is stable. President Obama points to a drop in the deficit as well as a massive boom in the energy output of the United States. These things are helping the country get stable footing in the world economy. More people are going to work, businesses are growing, and things are looking good for every sector of the country.

The unemployment rate in October of 2014 was 5.8%. This is the lowest it’s actually been since July of 2008. The forecast for growth in the U.S. economy is 3.1% in 2015. This is far higher than the expected growth in other countries around the world, and that should be very exciting for people in the U.S. It means that things really are turning around for the better. They even closed down the stimulus program, feeling it is no longer necessary as a means to beef up the economy.

Another area that’s been providing some relief to the wallets of people across the country is gas. The price of gas is lower than it has been in years, and saving at the pump means more savings in the bank, or more money to put back into other areas of the economy.

Miami Real Estate Market Improves

One of the areas hit the hardest was the real estate market. People could no longer afford their home, and they were losing property and going bankrupt. It was difficult to sell properties at all, and the number of homes that were on the market vastly surpassed the number of buyers. This drove the price of homes down, but even then, it was difficult for most people to even contemplate buying a property at that time. However, the improved economy means that more people today have the means and the savings to buy a nice home. It’s easier for them to get loans, and they and the banks are smarter this time around. They will not get into loans that could turn around and bite them in a couple of years. Miami real estate market is doing phenomenal, especially the luxury segment. The prices have gone up over 20% during 2014 and there is no slowdown anywhere on the horizon. It is predicted to rise even more in 2015.


Miami Beach condos for sale

Famed Bollywood actress and producer Poonam Khubani, best known for Aryan: Unbreakable and Star of Jaipur, as well as being vice president of Telebrands, seems to love Miami Beach. (See Condos For Sale on Miami Beach) She recently purchased a second unit, number 1602, at the beautiful Miami Beach EDITION. Khubani paid $17.5 million for first unit she bought, number 1601, and $16.5 million for this latest unit. Because the two units are next to one another, most are speculating that they will actually combine them into one massive unit. However, the actual plans are still unknown.

Poonam Khubani is one of the most successful women in the world, and was actually named as on the list of Top 25 Leading Women Entrepreneurs of New Jersey thanks to her business savvy and success across a number of fields. While she is a popular actress and producer, much of the money and success comes from Telebrands, the company she owns and runs with her husband, A.J. Khubani. Telebrands is the “As Seen on TV” company that’s behind many of those infomercials that air for a range of different products, such as Flip Jack Pan and PedEgg.

What Makes the EDITION Popular With the Rich and Famous?

Why would someone with the wealth and power of Khubani want to live at the residences at the Miami Beach EDITION? The reason is simple. All of the units exude true elegance, and it is the epitome of living in luxury. Buyers can choose from penthouses, two-bedroom duplexes, three-bedroom duplexes, triplexes, and one-bedroom residences. The building features only 26 units though. This means that those who are fortunate enough to get into the property will actually have more privacy than they might find at some of the other buildings in the Miami Beach area.

The staff at the building can offer a range of different services as well, including housekeeping, room service, concierge service, and even taking care of daily tasks such as shopping for groceries. Residents will have all of their needs attended to at the EDITION.

The residents will have access to the features and amenities at the hotel, round the clock security, access to the business center and meeting rooms, access to the restaurant and bars at the hotel, the fitness center, massage and spa services and much more to help make the lives of the residences more enjoyable.

All of the units at the EDITION are designed by John Pawson, one of the most famous architects in the world. Each of the units is unique. They have large living areas and floor to ceiling windows. They offer large balconies and terraces, as well as the best appliances, cabinetry, counters, flooring and features that money can buy.

With all of the features and amenities at the building, it’s easy to see why someone with the status of Khubani would want to own property there. It has a fantastic location, the space and the amenities that she and her husband need, and it really does act as something of a status symbol as well.


Miami real estate

Recently, President Barack Obama chose to rework the immigration system, and his plan has the potential to do some great things for real estate sales in the Miami area, at least according to some specialists. Helena Tetzeli, a corporate immigration attorney, says that President Obama wants to improve the current immigration programs so that they can help to improve investment and entrepreneurship among immigrants coming into the United States. It has the potential to expand the EB-5 Visa for immigrant investors, which allows foreign individuals to invest a million or more, or half a million if in a targeted employment area, so long as it creates or keeps at least ten jobs in the United States.

Real estate projects would certainly fall under this category for the EB-5 visa. It may also be possible to create other similar programs that could help to encourage immigration to the United States for investors who have an interest in real estate. Many developers in the region are already using the EB-5 visa as a means to help fund development in both the commercial and the residential areas.

Who Might Immigrate and Invest?

It seems as though much of the world has a focus on the Miami area when it comes to development and investment. European investors, as well as those from South America and China are looking for many different types of investments. Some want to work with developers, while others are simply looking to buy an investment property or two. By bringing more foreign investment to the area, it is better for the overall economy. Some developers have already been benefiting. Tibor Hollo, is a good example. The construction cost for the property is more than $800 million, but with the help of foreign investment, they are able to meet that number.

Each year, the country has a cap on the number of EB-5 visas it allows. This number is 10,000. Interestingly, in 2014, the country reached the cap easily, and many of the visas were for Chinese investors. This shows that there is a rather large interest in developing and investing in the country. Some of the other investors that love investing in the Miami area include those from Brazil, Argentina, and other countries in South America. Since the country met their visa cap though, it means that some of those other foreign developers may not have been able to make the investments they wanted.

More Changes Could Be on the Horizon

The new changes that are coming to immigration in the coming months and year could well add more avenues and options for investors who want to put money into development contracts. This should help to make it easier for all the out of country investors who want to work in South Florida and who were unable to do so because of the visa cap.

Miami and the surrounding area have a lot to gain from all of this foreign investment, and it will be exciting to watch how it all unfolds.


Miami real estate

It’s hard to believe 2014 is over and 2015 is here. 2014 was a great year for United States economy, the stock market and of course the real estate market. The US economy has officially recuperated and most experts agree that we are seeing a large surge when it comes to recovering. Even the Federal Reserve certified that the economy is stable. President Obama points to a drop in the deficit as well as a massive boom in the energy output of the United States.

These things are helping the country get stable footing in the world economy. The unemployment rate in October of 2014 was 5.8%. This is the lowest it’s actually been since July of 2008. The forecast for growth in the U.S. economy is 3.1% in 2015. This is far higher than the expected growth in other countries around the world, and that should be very exciting for people in the U.S. It means that things really are turning around for the better. They even closed down the stimulus program, feeling it is no longer necessary as a means to beef up the economy.

What Does That Do To Miami Real Estate?

2014 was a great year for Miami real estate (CLICK HERE to view properties) with appreciation rates over 20% and stronger than ever demand for the luxury properties. More and more World-renowned architects are choosing Miami for their projects, which adds to the city’s overall success. Miami has some of the most beautiful buildings on the planet.

The migration to Miami continues to be very strong with many families moving to Miami. There are a lot of executives of multinational firms moving to Miami as well and the Miami schools admitting more kids than ever each year. The South American markets continue to drive a lot of buyers into Miami because of the financial insecurity in their countries. There are more and more Europeans coming to Miami to purchase luxury properties you can only find in Miami. The New Yorkers are buying Miami real estate once again and that’s a big indication of stable economy in US.

Without any doubt, Miami is the new global city and will continue to attract many affluent clients looking for values they will not find anywhere else. The renewed confidence will make Miami real estate even stronger in 2015.

For more information on current Miami real estate opportunities, please contact our office at (305) 336-0457.


Miami Beach real estate

The prices for single-family homes and condos in Miami-Dade County (VIEW SITE HERE) have been moving inexorably upward for several years in response to the natural rebound of the real estate market, as well as the influx of investors and the area’s improving employment segment. In fact, median home and condo prices just hit a six-year high for the area. However, if you think that means Miami has become the most expensive place to live in the world, it’s time to rethink that.

In Comparison to International Markets

Miami attracts potential residents and real estate investors from all over the world. They flock to the warm, sandy shores to soak up the sun, enjoy one of the most genial living environments in the world, and to reap rewards on their investments. What they don’t do is overpay for real estate. Whether interested in a condo or a single-family home, you’ll find that reaching that six-year high point hasn’t drive Miami real estate through the roof. You can still purchase about six condos in Miami for the same price as a single apartment in London. Despite the modest cost, Miami and the surrounding area still makes it into Christie’s Top 10 list of the world’s best luxury residential markets, putting it on part with the likes of New York and Hong Kong.

What the High Price Really Means

If you take a long, hard look at the Miami-Dade real estate market, you’ll find that it’s not so much a single market area, as a lot of sub-markets stitched together. The markets mirror the layout of the various neighborhoods throughout Miami and greater Miami-Dade County. You’ve got Downtown/Brickell. You’ve got South Beach. There’s Bal Harbour, but there are many, many others, and the ultra-high multimillion-dollar properties are only located in a few of them. In reality, almost 70% of condos in the county actually sold for less than $300,000.

In addition, you’ll find that the six-year high figure is still lower than what it was back before the recession hit, sometimes considerably so. For instance, the median price for a single family home in Miami at the end of July 2007 was $382,000. Today, it’s $251,000. That’s up from the $162 grand it cost in 2011, but well below the pre-recession peak figure. You’ll find this holds true for condo properties as well. So, while the prices have increased significantly, they’re not as high as you might think, and they’re nowhere near as high as they once were. Why does the past price matter so much?

Miami real estate is still technically in recovery. Prices are rising. Eventually, they’ll make it back to their pre-recession levels, and you’ll find that those who bought early, even now at the six-year high point, made out far better than those who waited around to see what the market was going to do. Rest assured, it’s going to keep moving up. The only question is when you’ll get in.


Miami real estate

Real estate loans in South Florida have traditionally been large – they have to be to accommodate the price of property in Miami-Dade and the surrounding counties. However, those loans are getting larger. The biggest banks in SoFla are now routinely offering real estate loans 10% larger than previous financing packages, marking another year of significant growth for SoFla.

A Look at the Growth

In 2014, the 15 largest banks in South Florida managed to expand their real estate loan portfolios by over 10%, the FDIC reports. This growth wasn’t relegated to Miami-Dade County alone. Broward and Palm Beach counties also saw significant growth. Most of the growth occurred in increased loan volume through acquisitions. However, there’s also organic growth occurring in the market. It’s not all about acquisitions. New residents and new businesses are steadily streaming into South Florida. In total, the loan expansion included construction and land development packages, as well as multifamily, residential and commercial mortgage loans. (Click here to research Miami real estate)

The Largest Increases

While the 10%+ increase was across all 15 of SoFla’s biggest banks, not all financial institutions saw the same growth. The single largest increase came from Florida Community Bank, based in Weston, FL. FCB experienced a 55% jump in loan amounts, going from $1.6 billion in 2013 to $2.4 billion in 2014. Part of that growth stemmed from FCB’s $596 million acquisition of Great Florida Bank of Coral Gables.

Another high performer was Stonegate Bank out of Fort Lauderdale, which saw a 54.5% increase in real estate loans (rising past the $1 billion mark from just over half a million the year before). SBoFL acquired Florida Shores Bancorp, as well as that company’s subsidiaries to add $555 million.

Capital Bank, based in the city of Miami but also serving Tennessee, as well as North and South Carolina, also added to its success. It purchased $46 million in residential mortgages to create a 5-year total of $4.7 billion.

Where the Rejuvenation Starts

The growth in loans has been significant, just short of staggering. There are several attributable factors here, but one of the major ones is the creation of the Brickell City Centre (Click here to view the project), which BankUnited’s Florida president said was one of the hotspots in the area fueling his bank’s growth and success. Others point to the approval of the creation of Miami Worldcenter, as well as Miami SkyRise and other high-profile developments in town.

However, it’s not all about new projects. There’s also less leverage out there, which banks have cited as creating a healthier financial market in the first place. “Florida is back,” stated BankUnited’s Florida president, Thomas Cornish. A quick look at the various industries served by the 15 largest banks in SoFla certainly seems to hold up that assertion, with residential mortgages increasing by almost 12%, commercial real estate loans growing by 12.3% and multifamily loans growing by 6.7%.

All in all, 2014 has been a banner year for Florida’s banks, but also for homebuyers, construction companies and businesses of all types.


Miami real estate for sale

The real estate investment market in the US has undergone some significant shifts over time. Back during the recession, it tanked right along with the residential real estate market. It’s improved since then, as have most residential markets around the country. However, not all areas have experienced the same resurgence. For investors, that means it’s more important than ever before to choose the right area. Low entry prices aren’t the only thing to look for, and can actually be a sign that a market isn’t as healthy as it could be. More and more, investors are turning to South Florida, and to Miami in particular. Why is that?

Natural Advantages

One of the reasons for Florida’s rank as the top real estate market in the country is that it is rich in natural resources. It’s an undeniably beautiful place, whether you relish sitting on the beach, hitting the links or exploring untamed wilderness. There are swamps, hills, beaches, well-developed urban areas and more. It’s also warm year round, which makes it a natural destination for those who don’t enjoy the cold.

Man-made Attractions

In addition to the natural beauty and splendor of the state, you’ll find that it’s rich in human development. We touched on some of those above, but you’ll find much more. The oldest European settlement in America is in Florida, and there’s a lot more here, from museums to art galleries, from shopping malls to entertainment venues. It’s easy to reach pretty much anything you might want to do from virtually anywhere in the state, too.

Why Miami Rules It All

When it comes to Florida’s real estate market (click here to research Miami real estate market) , you’ll find that the south is more popular than the north, and in South Florida, Miami and the greater Miami-Dade area are the undisputed rulers. What makes Miami such an incredible place? You name it – South Beach, Sunny Isles Beach, downtown Miami and the list goes on and on. From deep sea fishing charters to ultra-high end shopping and dining, it’s all here, and it’s all within easy reach. A short drive from Miami is the beauty and jetsetter atmosphere of South Beach. Head up the road a bit and you’ll be in Bal Harbour, or venture into Sunny Isles Beach, or any of the other communities that make up greater Miami.

In all of those areas, you’ll find that the real estate market is hot, and getting hotter by the day. Luxury condo properties are going up by the score (on top of the many already in existence). There’s also a significant influx of major corporations. You’ll find that Nokia, Kraft and HP all have a huge presence in the area, as does Oracle, Microsoft and more. That equates to jobs, certainly, but it also caters to an upwardly mobile, affluent crowd that’s eager to get into owning their own home and have a preference for luxury properties.
South Florida is the ideal option for real estate investment, and Miami is its crowning jewel.


Miami Beach condos for sale

According to recent reports, the pocket listings, or off the market listings, in the South Florida region have gone up quite a bit over the past year. In fact, they’ve risen by about ten percent in that time. One reason for this is simply that people want to have more privacy when selling and they feel that it can offer less of a hassle. Pocket listings may work well in some situations, as evidenced by this increase, but they may not always be the right solution.

What Are Pocket Listings?

For those who are new to the real estate term, a pocket listing is simply the phrase used for a listing that is not in the MLS. This often happens because clients want to have a bit more privacy when they are selling a home. This type of listing often happens when the sellers have luxury properties for sale. They want to have more secrecy and privacy when it comes to their viewings, as well as negotiations. Ultimately, it is a marketing decision, but it is not always to the benefit of the seller.

What sellers really need to remember when they choose a pocket listing is that they are limiting the pool of eligible and potential buyers. While this might seem like a smart move since it focuses on getting only the buyers who have a real interest in the property, and it makes the showings easier, it could affect the price. With a smaller number of buyers, it can limit the price potential for the seller in some cases.

Additionally, brokers will have to beware of sellers and buyers who might not be willing to sign a contract with them, essentially pushing them out of the deal once they have the contacts they need. There is also a chance that the seller could back out on the deal or might decide to raise the price. Some feel that the increase in pocket listings could have another negative effect on the market for agents though. It becomes difficult for appraisers and agents to get real comps for properties they are selling in the area.

Of course, in some cases, this type of sale really is the best option. Consider those sellers who have true luxury properties. They do not want to open their home up to the public. They know they need to have a certain type of buyer with a certain amount of money, and opening the home up to everyone who wants to come through and “take a look” will bring them nothing but headaches.

Discuss It with a Broker

Those who are selling their properties and who are considering a pocket listing should actually take the time to talk to their broker about the possibility. Brokers and agents will have the experience to let the seller know whether going with a pocket listing really would be a good idea for their property or not. They have the experience to help sellers with the decision.

Our office has several pocket listings in the Sunny Isles Beach area as well as Miami Beach (view Sunny Isles listings for sale here). Please feel free to contact us regarding our pocket listings.


Sunny Isles Real Estate

Everyone in real estate remembers the “good old days” of the pre-recession era, when the prices of homes were high and developers and realtors were able to sell home after home. It seemed as though there would be no end to the golden days. Of course, everyone knows what happened next. The perfect storm of bad things started to come together. This stew of trouble really hit in 2007, and the real estate market has still not entirely returned to form. While things are getting better, there is still a long ways to go, as you will see.

First, it’s important to look at what caused that initial downfall back in 2007. In fact, it was the aforementioned stew, or blend, of issues that helped to tear down the real estate market.

What Caused the Fall?

One of the first problems was the fact that the banks seemed willing to lend to nearly anyone who wanted to buy a home. It seemed like a great time for anybody to buy property, but it turned out that many people bought without understanding their contracts. They bought more than they could afford and when the real recession hit, they couldn’t pay. The economic downfall coupled with the issues of properties being more expensive than people could actually afford was too much.

Everything fell apart, and it took years before things even started to get close to normal. In fact, we still did not reach those pre-recession prices. According to Zillow, the value of property in some parts of South Florida is still about 36% lower than what the prices were at their height in 2006. Other parts, of course, like Miami and Sunny Isles Real Estate (click to see Sunny Isles properties here). They also go on to say that, according to the current growth rate and patterns, they will not return to that high until sometime in 2019.

South Florida hit their low mark in 2011. Fortunately, there was a huge turnaround in 2012 and 2013. However, even though they did help the counties of Palm Beach, Broward, and Miami-Dade to recover quite a bit, the increases have started to slow. While there is certainly still interest in the area, the interest does not seem to be as “fast and furious” as it had been. This could be due to the home prices starting to go back up.

Slower Growth Might Be Good

Is the slower growth really a problem though? The speed at which the market prices rose before was a part of the problem. By growing slower, and growing at a natural rate, it may actually end up being a much safer and stable place to invest in the end. However, this does mean that many of the homeowners who are already in homes they bought a year or so ago will want to stay in their homes for at least three of four more years so they can get back to the breakeven point. Still, this is far less time when compared to how long it will take full recovery to reach many other areas of the country that had far more of a severe real estate drop.

Overall, the projections are very positive with real estate in South Florida as well as the rest of the country continue to flourish and appreciate, which means that now is still a great time to buy real estate.


Content published by Lana Bell

Content published by Lana Bell