Sunny Isles Beach Real Estate - Sunny Isles Beach, also known as “little Moscow” (because of its many Russian and Russian-descended (Russian American) residents, many of whom are Russian Jews, had a real estate boom from 2000 to 2005. In fact, the price of Sunny Isles Beach real estate increased up to 20 percent per year! Unfortunately, because of the housing crisis and a change in lenders mortgage programs, prices have lowered and are much more attractive to homebuyers. The competitive market came from residents putting their home up for sale in the hopes of making some quick money. This is the Sunny Isles Beach real estate market that is still present today for the smart real estate investor. An abundance of real estate can be purchased via short sale and foreclosure. This will not last long. Because the Sunny Isles Beach real estate market slowed, it has achieved a balance between supply and demand and has become more orderly.
While homes are taking longer to sell, the seller will usually get the asking price or about 90-95% percent of it. The seller may have to wait longer and there will not be as any buyers clamoring for the property as during the boom, but there are still a good number of unsold homes in every price range, so buyers still have their pick. Mortgage lenders still have a variety of attractive programs for every homebuyer. "Buy and Sit for Profit" has become the new way to invest in real estate in Sunny Isles Beach and all of Florida. It has replaced the "Buy and Flip for Profit" mindset during the time of the boom. This is because the market is leveling out. Sunny Isles Beach has fairly consistent returns for investors. This is because of the sandy beaches and tepid water, not to mention the nightlife that includes an almost endless supply of restaurants of every kind. With all these reasons, it is easy to see why Sunny Isles Beach real estate is so hot. It is one of the fastest growing cities and communities. Summary: Sunny Isles Beach real estate offers so many options from beaches, a hopping nightlife, upscale developments and local scenery.
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