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 Homes For Sale

According to data coming straight from S&P/Case-Shiller, the prices for homes in the Miami region have been on the rise. In fact, the price of homes rose by 13.2% between May of 2013 and May of 2014. They show that there has been relatively stable and steady growth over the past year of more than one percent each month. While they are strong, it is important to take a realistic look at the growth, and to realize that it is slowing over what it has been the past couple of years.

Is Slowing a Bad Thing?

It is important to remember that just because the growth rate is slowing down a bit in Miami and other areas, that’s not always a bad thing. The growth hasn’t been stagnated. This means that even though it’s somewhat slower, the prices still appreciate but at a slower rate. In fact, the city and surrounding area is doing better than the rest of the United States in respect to the home price increases. It is important to keep this in mind.

Something else that is important to remember is that a beginning of a slow down period for the real estate market at this time is natural. It went through a recent big recovery phase, and now that things are getting back to normal, having slightly slower price increases is predictable. It is actually a good thing, as it ensures that the market does not get into a “buuble” like state, which is what happened seven years ago.

Will the Homes Ever Reach Record Highs Again?

While it’s impossible to predict the future, one has to think about where the city of Miami, as well as the United States will be financially in the upcoming years. It is also important to consider what will happen in all of the other countries with foreigners who like investing in Miami properties. If those countries have their own financial issues, as Argentina is going through right now, then it could put a bit of a damper on the sales. It all depends on a wide range of different factors.

However, experts in the field, not to mention the developers and realtors who are working in Miami, have a great feeling about the state of real estate in the South Florida. They feel that within about six years, the prices of homes should be about the same as they were before the recession. It just takes time to recover entirely, but it is inevitable.

Consider just how much money and effort so many developers are putting into completing their current properties and building new properties all around South Florida. Since they are building these new properties, and they have presales, it shows that people still have quite an interest in buying properties in the area. With all of the projects coming up in the next couple of years, it really does not seem as though the Miami real estate market is in any trouble at all. It’s just a matter of time before full recovery.


Miami preconstruction condos

Over the past couple of years, the Miami area has been going through a real estate renaissance, a real boom in the market. The sales of the units in all South Florida locations, and especially in Miami area has been quite brisk, and that led developers to building even more towers and adding more units to the market. Again, they continued, and they continue, to sell very well. In fact, there have been tens of thousands of new units proposed in the region since the boom started a couple of years ago in 2011. They’ve already sold close to 10,150 of the new proposed units just in the latest boom and they keep on selling. (view pre-construction Miami condos here)

Sales Stronger than the Past

Currently, there are 16,200 preconstruction units in the marketing and presale phase, and the number sold represents about 60% of the total. The other condos that are on the horizon and that have not yet started marketing and presales are still getting potential buyers excited, and it appears that the sales for the remaining units, and new units, will continue to go well.

One of the interesting things about the sales today is that the sellers of these preconstruction condos will generally require a number of deposits that will total about half of the overall purchase price. This is interesting because before the recession, the buyers were only required to put down a fraction of this amount – as low as 10% much of the time. This caused more buyers to put down money, although they may not have had the means to necessarily follow through and buy the home, which caused some issues, as one would imagine.

Higher Deposit Requirements Are a Good Idea

The requirement for the higher deposits makes more sense today, and it helps to keep the overall market much safer. Buyers who can pay the larger deposits have more of an interest in the property, and it tends to mean that they are economically capable of actually buying the home. Even though the construction deposits are higher today, when one looks at the demand and the excitement to buy in the area, it seems as though the higher prices have done nothing to slow down the purchases.

Reports say that 23 new condo towers going up in the area have already sold out, and that another 25 towers are reporting that they’ve sold about 90% of the units they are building. The enthusiasm is certainly still there when it comes to buying in South Florida.

How long will this boom last and how long will people still be willing to buy? While it is hard to predict exactly what will happen with the real estate market, things really are looking good in the South Florida area, and this does not look as though it will change anytime soon. The buyers still seem to be there and they still seem to be on the hunt for great properties whether they plan to live there, vacation there, or rent the units out as an investment property.

Our team specialized in Miami’s finest pre-construction condos. Please contact Lana Bell today for a consultation – (305) 336-0457


Miami Luxury Homes for sale

What do wealthy people want when they are buying a property? Naturally, they want many of the same things that everyone else does – a quality home in a good, safe neighborhood. However, according to a survey conducted by Sotheby’s International Realty, they want some very specific things when it comes to their dream homes, which they are actually able to afford. The survey took information from rich buyers in four different countries – Brazil, China, the United Kingdom, and the United States.

The Features of a Great Home According to the Affluent

The survey found that the wealthy in those different nations had slightly different ideas of what would constitute the perfect property. Namely, those who were from Brazil wanted a smart home, which is a home that features lighting, heating, and electronic devices, such as a television that you can control through a computer, tablet, or even a smartphone.

Those who were in China wanted a home that had plenty of space for a display of various types of art collections. Those in the United Kingdom had a penchant for properties that had some type of historic significance. Those who were in the United States wanted a lifestyle property that was on the waterfront. They also wanted to have a large enough garage for a collection of cars, and they even wanted to have input into the design of the home.

It turns out that homes on the water are actually rather important for most people who want to buy a new home, and who have the money to buy the type of property they want. As they say with real estate, it’s all about location, location, location. Being near the water was one of the top requirements, or desires, of people in all of the surveyed countries.

Of course, in addition to the location and the features of the home, wealthy buyers also wanted something that would give them a good return on their investment. The ROI was a key factor when it came to choosing a property. Those who are wealthy know how to stay wealthy and make money, so they tend to put their money into properties that are going to help make them money if they sell down the line.

Many said they did not intend to sell a few years later though. Instead, they were looking into buying legacy homes, which are homes that they could pass down through their family.

Luxury Leads the Way

Several years ago, the real estate market took quite a hit, and it has taken some time for it to start to recover. One of the big factors of recovery during that time though was the luxury market. Many wealthy buyers were still able to buy during those lean years, and they found that it was actually a good investment to do so.

The South Florida region was one of the areas that had suffered during that time, but things are going quite well in the area now. In fact, many of the homes in Miami, Sunny Isles, and nearby neighborhoods fit in quite well with the desires of the wealthy, at least according to Sotheby’s survey.

To view most expensive homes in Miami please following this link


Miami Beach real estate

Recently, the City of Miami received final approval for their EB-5 Regional Center for Foreign Investment, which has the potential to allow many more foreign investors to start putting money into the economy. This particular designation will allow many foreigners, especially those who are from China, to be able to invest in properties in the South Florida area.

Why Is It Good For Investors And Good for Locals

Mayor of Miami, Tomas Regalado feels that the approval is going to be a very good thing for both the investors as well as for those who are living in the area. The program will actually let the city help foreign nationals who are trying to put more capital into the economy by giving them special immigration status. However, not just any investors will do. They need to invest at least half a million dollars into the area, and they have to be able to prove that within two years they’ve created a minimum of ten jobs.

They hope that the program will actually encourage more investors to take root in South Florida, and they feel that it has the potential to create thousands of new jobs. This fuels more economic growth for the region and makes it a better place for all who live there. Miami is one of the pioneers when it comes to this type of program, and you can bet that a number of other cities around the country will be waiting and watching to see what happens. If it is successful, there is a good chance that many more cities will follow with their own similar programs later.

Miami will become something of a model that the other local governments around the country can follow.

What Is the U.S. Immigrant Investor Program?

It’s important to take a deeper look at the program to learn more about what it entails and what advantages it has the potential to offer. First, it allows two-year residential status for qualifying investors and their families. This residential status is conditional. The investors will need to invest at least $1 million, or $500,000 in a “designated target area”. They need to invest in businesses that will be able to create at least ten jobs for American workers during those two years.

After those two years, if the investors are able to meet the above conditions for creating jobs and investment dollar requirements, then they will be able to apply for an receive unconditional permanent residency.

The program offers many benefits and advantages for the investors. First, it does not matter what age they are, how much business experience they have, or their language. The investors can be limited partners – they do not need to be managing the investment on a daily basis. Also, they do not need to be in the United States fulltime to manage their business. They can maintain the business from their country of origin.

The program is new and it remains to be seen just how effective it might be. Still, it’s an exciting opportunity, and it could be very good for Miami real estate – CLICK HERE to view current listings in Miami Beach.


Miami Beach real estate

When people think of luxury, they think of Miami, a city that has it all. Whether you make your home in Miami (view Miami homes for sale website here), or you visit occasionally, it’s easy to see and appreciate the opulence the area offers. This is the second year in a row that Christie’s International Real Estate put the city on their list of the top ten luxury property destinations. Some of the other cities that also made the list include Los Angeles, New York, Paris, London, and Hong Kong.

One of the things that many brokers say helps Miami stand out from those other cities is the fact that it is still relatively affordable, even for luxury accommodations. Those who choose to buy in the area tend to get far more for their money than they would in a city such as New York or London, for example. Let’s take a look at some numbers for comparison. In 2013, the average price per square foot for a luxury home in Miami (see all Miami luxury homes for sale here) was $559. During that same year, the price per square foot of a comparable home in San Francisco was $829, and in London it was an astounding $4,683.

It turns out that luxury is about more than just the price, though. Luxury is about much more, such as the features and the location. Let’s look at what Miami can offer.

The Location

First, think for a moment about the location. You are right on the water, and it’s never more than a few minutes away no matter where you might be in Miami. You are close to a host of attractions, the water, and even the Keys and Bahamas if you might want to take a quick weekend jaunt. Luxury is about living the good life, and that’s easy to do with such a great locale.

The Properties

The properties themselves are very important too. The designers and architects who create the condominium towers know luxury. The buildings feature every amenities that you could want, including pools, security, gyms and spas, on-site restaurants and lounges, modern design, and so much more. The units themselves often have the latest cabinetry and flooring, as well as balconies and terraces for relaxing or entertaining. One of the best things about those buildings is the views they can offer.

The Culture

Of course, one also has to look at the culture of Miami to get just why it is so special and so different from all of those other cities. It’s a great melting pot of cultures, and it has quite a strong Cuban and Latin influence in the area. This colors the city and makes it unique and special. From the food to the nightlife and beyond, culture in Miami equates to great living, and really, that’s what luxury is all about in the end.

If you’ve been considering buying a home in the Miami area, now is a great time to do it. You want to get in on the action before all of the best properties are gone! Please visit our site which offers complete resource on buying real estate in Miami, including real-time listings, rentals and sold history – http://www.sunnyislesmiamirealestate.com/Miami-Beach/ or call our office today – (305) 336-0457


Miami Beach Homes for sale

One of the constants in Miami as well as South Florida is that the quality of the condominiums and other properties that are available never seems to wane. However, this also means that the prices of those homes tend to rise as well. Still, as the price of the properties is rising, the number of sales is starting to slow just slightly. This tends to mean that the buyers have many more choices and they are waiting to see if they can get a better price for properties. It is starting to become a buyer’s market once again, and those who are going to be buying soon should see this as a promising sign. Plenty of homes are available in Broward, Palm Beach, and Miami-Dade counties, and those rising prices might start to slow a bit as the buyers hold off on making actual purchases.

The Numbers

Currently, the median price of a single-family home in the Miami-Dade area is up by about 8%, hitting $243,000. The median condominium price rose by an even higher percentage – 10% in that time, but it did see something of a drop in March of 2014. The sales of single-family homes in the area were up by about 5.6% from the previous year.

These changes mean that it’s becoming less of a seller’s market, as mentioned. The real estate market seems as though it is stabilizing and balancing. The same is happening in Broward County. The inventory is going up and the sales are starting to slow. In Broward, we see that the price for a home went up by 9.2% over the past year, with the median price for a home being $273,000. Condo prices rose by quite a bit more. In fact, they were up by 14.3%.

Why the Rising Price?

What is it that is causing people to raise the price of their homes? A couple of years ago, the price of homes dropped quite a bit because of the crash. Now, the economy and the real estate market are getting better and stronger. Homes have been selling briskly up until recently. This causes many sellers to feel that they can ask more for their property and that they should be able to get it. They feel that their property should get more than a home that recently sold in the area because they think their property is nicer or better.

They don’t take into account all of the other factors, including the market, that will affect the price of their home. Buyers are not biting though. They have a surplus of properties from which they can choose, and they are able to look at other options. They don’t need to spend more than they want to spend because they will find something that they love within their budget relatively soon and they know it.

The prices should start to come down, at least from those sellers who are realistic about their property and what they can reasonably get for it in the current market. Buyers just need to wait and negotiate.

For a complete list of currently available properties for sale in Dade and Broward counties, please VISIT MY WEBSITE


Miami new condos

Some people are starting to worry that we could be facing another real estate bubble in the South Florida area, but many experts feel that these fears are premature. They feel that there is still plenty of room for growth in the counties of Palm Beach, Broward, and Miami-Dade. One of the reasons for the fear is that developers in the area are already proposing a large number of additional condominium units in the area – more than 33,000 of them in fact.
Click Here To View All Pre-Construction Condos In Miami

Where Will the New Units Be?

Currently, the downtown area of Miami looks as though it will be getting approximately 17,400 units across 59 new towers. While this might seem like a substantial amount, it is important to remember that during the last boom, the area became home to 22,200 units with 84 towers. Sunny Isles, another very popular neighborhood in the area, is slated to have 14 new towers and an additional 1,800 units. During the last boom, developers created 6,200 units among 28 towers.

Because of this boom though, people fear that history could repeat itself. After the last boom, they remember the crash of 2007. While it is understandable that people want to be cautious, the world and the economy today are in a different place. It’s not nearly as likely that this type of crash will happen again. Still, caution is always smart no matter the state of the market.

What Makes This Different

Even though there might be a large number of proposed units in the pipeline, there is not the same rush as there was before. The towers and buildings are going up more slowly. Less than twenty-five percent of the proposed units is under construction right now. Many of the others are still waiting for approval. It’s important to remember that these are only proposed units. The ones that are not awaiting approval, having already cleared, will be units that go forward only when the developers can get enough presales to show that there is still an interest in the units in the area, and that they’ve already sold enough to make it viable. This means there will be no vacant towers desperately looking for owners as we’ve seen in the past.

This keeps the progress at a slower pace, which may actually be much better for the overall real estate market. It ensures that the growth does not happen too quickly, so there is far less of a chance of the bursting bubble and crash as there was seven years ago. Despite the skepticism that some have, it’s far too early to know what the market will be like in a few years. As always, buyers and sellers alike need to watch carefully in order to get an idea of where the market will be moving. Still, given the current popularity of the South Florida area from a buyer’s perspective, it does seem as though the market could be looking up for quite some time still.


St. Regis Bal Harbour Miami

Recently, the south tower penthouse, unit 2501, sold for a whopping $22.75 million at St. Regis Bal Harbour. The previous owner was a Delaware corporation owned by Yuriy Kosyuk, a Ukrainian billionaire who made his money in poultry and food products. Strangely enough, the buyer also happens to be a company from Delaware.

What Makes the Unit and Building Special?

The unit is massive, measuring 14,129 square feet. It includes 11 bedrooms and 12.5 bathrooms. It’s also relatively new, since the tower only went up a couple of years ago. Originally, the space was going to be five separate units, but they combined those units into one large penthouse property instead, so it takes up the entire top floor of the building.

One of the best things about this penthouse is that it offers wonderful views of the ocean, the city, and more. It features more than 4,000 square feet of terrace space as well.

As wonderful as the unit is, the building itself is quite special as well. Some of the amenities at the building include a private swimming pool, housekeeping services, a concierge, dry cleaning and laundry, and more. It even offers a gym so residents can stay in shape. They also offer onsite dining. It’s a remarkable place to call home, and it is no wonder that the units in this building tend to sell rather quickly, and for more than many might imagine.

Of course, one of the other reasons to love the building is the location. It is literally right on the beach and offers nearly a thousand feet of beautiful beachfront. The St. Regis Bal Harbour is also close to places such as Miami, Fort Lauderdale, the airport, and a host of attractions.

Why Do People Love Penthouses?

What is it about penthouses that make people love them so much? They are on the top floor, so it means that the views will always be nice, naturally. It is also something of a symbol of being on top in life, not only in the apartment. Penthouses do not come cheaply, as you can see from the price this one sold for, so it serves to show one’s status. It is true luxury living, and that’s just what someone wants when they are in South Florida. Whether they are there on a vacation in their second home, or they are using the property as their primary home, penthouses are ideal.
CLICK HERE TO VIEW ALL MIAMI PENTHOUSES FOR SALE

In addition, some people want and need to have more space. Many of the penthouse units also have more features and amenities, such as private elevators. These additional features help to make the idea of a penthouse even more attractive for those who can afford it, and they are even better in South Florida because of the great location.

Of course, you have to keep in mind that penthouses are rare. Towers generally only have one or a couple at most. This is something else that contributes to their greater cost.


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.


Content published by Lana Bell

Content published by Lana Bell