condo market: Miami condo market update - 07/04/19 10:32 AM
 
Miami has shown a rise in home sales this year compared to the same period in 2018. Encouraging advantages of buying in Miami have pushed condo sales up, such as low mortgage rates and the new tax law. The first trimester of 2019 showed a 6.6% increase in home sales and a 3.5% in condo sales (compared to 1.6% statewide).
 
Firstly, average 30-year conventional mortgage rates decreased to 4.07% in May 2019 compared to 4.54% the same period the previous year. However, there is a lack of mortgage loans where out of 9,307 condos in Miami Dade and Broward counties, only 12 … (1 comments)

condo market: The secrets of Miami's luxury real estate - 12/14/18 03:58 PM
 
Miami luxury real estate is known to be the richest South American's playground. It offers a good investment field, an amazing culture and an unparalleled weather!  But this time it has been involved in a Venezuelan embezzlement and money laundering investigation! 
The real estate market in South Florida has been involved in a multi-billionaire scheme of embezzlement and money-laundering for Venezuelan's state oil company PDVSA. $1.2 billion has been the total amount discovered in the criminal complaint for this case! At least 16 properties have been tied somehow to the investigation. 
When you are purchasing a unit in Miami there are some steps you … (0 comments)

condo market: Should you buy waterfront or non-waterfront condos? - 05/04/18 02:30 PM
There is a strong appeal to buy waterfront condos especially when you are buying in Miami. However, non-waterfront condos might be a better choice of investment in certain cases. In this article, we will analyze three popular neighborhoods in Miami which are Brickell, Downtown and South Beach.
      BrickellBrickell’s glorious days were back in 2014 where all the condos saw an increase on sales and price per square foot. However, the sales has been dwindling these past few years. In this area, the waterfront condos are faring well compared to non-waterfront condos. Granted, waterfront condos in Brickell decreased by 4% … (0 comments)

condo market: Miami, the global magnet - 02/03/16 06:10 AM
The infamous condo market of Miami keeps on being a strong magnet for foreign investment, but it’s becoming harder and harder to differentiate investors and residents.
Condo buyers purchasing as their own residence today represent 1/3 of the investors, 1/3 use it for a second home and 1/3 as an investment to rent out. It is a very sought-after alternative in response to a very low rental inventory for the past 2 years. Overall, investors are prevalent in Miami Beach, Downtown and Brickell.
Those who purchase under $1 million tend to look for a return of 5% to 8%. High-end buyers focus on … (0 comments)