condos: Miami Beach Condo Market Looking Gloomy - 01/19/17 07:15 AM
Miami Beach's condo market, and Miami in general for that matter, is not looking so good.  That may depend on who you ask, but strictly from a numbers standpoint supply is beginning to outstript demand.  I realize some may lead you to believe that sale prices are still the same.  In fact, most are still going up.  But remember, a lot of them have not closed yet.  Closed prices tell the real tale here.  
Sales are down over 20% and that is a big number.  The luxury condo market is taking a big hit too.  But, hey, a monkey could have … (0 comments)

condos: Miami is ripe for a riot - 09/22/16 11:54 PM
Miami is ripe for a riot.
I don't say this lightly either.  But in light of recent riots around the country and the slow pushing out of Blacks in the inner city by greedy developers can only lead to one thing.  However, riots need a trigger and it's just a matter of time before some racist, corrupt cop kills another Black man in Miami this time.  
In case you haven't heard this has happened before in the 1980s and it wasn't pretty.  The Liberty City and Overtown were in flames.  Sadly, nothing has changed for these people here.  These two areas remain … (3 comments)

condos: Convince me that a condo is a good investment - 11/11/14 03:32 AM
Convince me that a condo is a good investment. 
I dare you.  I am not going to cite any fancy graphs or experts to convince you that it is not because my better judgment tells me that at least in the Miami area you are flirting with disaster.  Don't get me wrong.  I want to sell you one or sell your condo.  That is what I am in business for, but I would be remiss if I did not present you with the proper idealogy behind the whole condo boom. 
Here are the facts in a nutshell;  Condos are … (0 comments)

condos: Are you ready for this Miami? - 08/11/14 05:31 AM
Are you ready for this?  Here is how Miami, Florida is attempting to reinvent its real estate self.  The Miami new construction condo market is now 90% foreign owned.  Things are looking good for the time being and realtors galore in Dade County are just eating it all up with their South American, Canadian, and British friends. 
Sounds a lot like the 80s condo boom when "Miami Vice" was heating up, although back then it wasn't so much about investing as it was about money laundering.  Today these buyers are simply making the same mistakes that led to the housing … (2 comments)

condos: Intelligent Housing for the Ultra Religious - 02/10/14 02:30 AM
Intelligent housing for the ultra religious. 
With the condo boom in Miami in full swing comes a new and spiritual way to sell these ultra plush, high dollar buildings.  Starting in the $3 million dollar range, these condos offer a rooftop swimming pool over the ocean, bedrooms with two bathrooms each, kitchens with two of each appliance, and intelligent lighting and elevators. 

Essentially the different electrical devices work on their own during the sabbath so that you do not have to touch any of them.  For instance, on Friday evenings your stove will kick on before the sabbath and stay … (0 comments)

condos: Money laundering the catalyst behind Miami's booming condo rise - 12/04/13 03:44 AM
Money laundering the catalyst behind Miami's booming condo rise. 
Call me a cynic, but there is no other way to describe what is happening in downtown Miami today.  I was led to believe, and part of me still does, that there are those in far away lands that are victims of politics and booming economics that come to Miami to buy condos as investments.  Most notably these countries include Israel, Brazil, Venezuela, and Canada.  The idea is that buyers in these economically sound countries want to take advantage of America's struggling economy and housing market. 

 
But the cynic … (0 comments)

condos: Why do builders in South Florida ask for such high deposits? - 11/14/13 03:40 AM
Why do builders in South Florida ask for such high deposits? 
Due to the recent housing bust where buyers were walking away from deposits at alarming rates builders in South Florida, especially new construction condos, are asking for higher deposits in order to insure they are able to complete what they started.  This essentially means that if you do not have a large cash reserve to buy then you will be left out in the cold.  It also explains why most buyers are foreigners.  Will this help prevent another housing crash in South Florida?  Only time will tell.  However, taking large … (2 comments)

condos: Miami Condo Boom and Bust is Cyclical - 10/30/13 05:28 AM
I do not wish this on the city of Miami, but one has to wonder if the recent condo sale developments will change for the worst in the near future.  Miami-Dade County foreign investors are probably living in a state of denial right now because they just keep on coming from as far away countries as Brazil and Venezuela to name a few. 

Just a few years ago the city went through this same boom and bust cycle and it appears that nobody has learned a thing from it.  The real estate market in the US, especially places like Miami, … (0 comments)

condos: Tao Condominiums in Sawgrass Offering Rented Units for Sale - 03/15/13 03:16 AM

Condos in South Florida are making a bit of a comeback and Tao of Sawgrass is now offering units for sale that are already leased for those seeking a quality residential investment.  The twin towers are located in Sunrise, Florida within walking distance from the BB&T Arena, Sawgrass Mills Mall, and the Sawgrass Expressway.  A gorgeous pool area dots the landscape and each building offers amenities galore.  See below for a complete price list and call Morris Massre of Prudential Florida Realty for an exclusive viewing at 954-214-6014. 
 
 

                                                                  Considering the amount of rental income you will … (0 comments)

condos: Local Buyers Remain Elusive in Miami Condo Market - 09/18/12 03:13 AM
Don't go kidding yourself into thinking that the recent big condo boom in Miami is going to bring the housing market back.  Prices have gone up dramatically, builders are building frantically, and foreigners are buying quickly.  These are the facts that remain certain in Miami today. 
But here is another disturbing fact.  Local buyers are staying out of the fray, either too weak financially or scared to buy.  So, instead they are paying absorbatant rental prices to greedy out of town owners.  Even the former governor, Jeb Bush, has gotten into the real estate business as part of a group … (1 comments)

condos: Crane No Longer Miami's Official Bird - 09/06/12 02:59 AM
Here is a great video on the state of Miami's mini condo boom by CNBC's Diana Olick, one of my favorite and most educated real estate reporters.  She also writes a very informative blog on the CNBC website well worth looking into.  I do not typically trust the media in general when it comes to real estate news, but Olick seems to have a pretty good grip on the subject and is very fair in her analysis.
 
 
Click here to view video

(0 comments)

condos: South Florida Condo Boom or Bust - 03/25/12 11:41 PM
At one point during the buidling boom in South Florida there were cranes dotted all along the the downtown landscape.  Most, however, were not moving.  Builders were dropping out in droves, and buyers simply disappeared. 
Now, there are 26 new condo buildings on the drawing board for the downtown South Florida area.  The reasoning is that, now there simply are buyers coming out of the woodwork.  That may be so, but the cold, hard reality is that these buyers are not American.  They are foreign speculators who are buying and renting until the market makes its comeback. 
Now, I … (0 comments)

 
Morris Massre, Real Estate Instructor Broward County Florida Rainmaker large

Morris Massre

Real Estate Instructor Broward County Florida

Pembroke Pines, FL

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