real estate 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)

real estate market: Miami welcomes tax refugees - 02/14/19 11:50 AM
Everyone has been talking about the Tax Cut and Jobs acted signed by Trump at the end of 2017. A growing list of wealthy buyers are now moving and investing in South Florida because of this new law, looking for a tax break.
 
That’s right! South Florida, especially Miami, is not just a paradise with endless sunshine… It is also a refuge for residents living in high tax areas such as New York or California. But why are Northers trying to run away from taxes now, as we know they have always been high? Mainly because after the approval of the “TCJA”, … (2 comments)

real estate market: How is Miami’s real estate beating the nationwide downfall? - 02/01/19 06:41 AM
 
You’ve probably heard that the U.S. nationwide real estate market will show signs of slowing-down this upcoming year. After years of a constant increase in the volume of sales, this upcoming year is expected to decrease by 2%. However, as for every rule, there is an exception, some housing markets are expected to beat the overall trend. Miami is one of those markets. 
 
The analysis we are introducing to you studied different elements, such as the number of sales of existing homes in Miami, their respective prices and the number of homes being constructed at the moment. Different economic metrics were also … (2 comments)

real estate market: Who are the players on Miami's Real Estate? - 11/16/18 10:22 AM
If you are a faithful follower of this blog, you might know that the foreign investment in Real Estate in Miami is a hot topic. Did you know that the real estate industry is not only a haven for South American investors, but for the past few years, it has been expanding its target to European and Canadian investors?
 
Those are real news right? The National Association of Realtors (NAR) and to the Real Capital Analytics (NAR), lately announced the 2018 foreign purchase of South Florida for the commercial real estate by country, and guess what? Canada, France and Germany are topping the list! 
 
Local commercial Real Estate seems … (0 comments)

real estate 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)

real estate market: The Most Expensive Condos Sold In The Past 6 Months in Miami - 04/20/18 10:13 AM
Miami is an exciting place for the real estate industry. Cash is king and properties are sold to foreign and local buyers like hot cakes. There are many new pre-constructions coming up in the area and they are many more that has just been completed. Miami is a place where people come together because its culture and unique identity as well as its lack of state income tax. It is a place where people believe in increasing value of property and they are right so especially when condos such as The Murano at Portofino has a price value increase years over … (0 comments)

real estate market: Downtown Miami Real Estate Report 2016 - 2017 - 03/23/18 08:55 AM
It’s time to evaluate the real estate market in one of the most popular neighborhood in Miami, the Downtown. Condoideas took 8 different condos (900 Biscayne condo, Marina Blue condo, Paramount Bay condo, Marquis condo, One Miami condo, Ten Museum Park condo, Quantum condo and 1800 Club condo) and evaluated their statistics from the year 2016 to the year 2017. Two things are taken into consideration which is the sales of units inside the building and their price.
Based on the graph, we can see that there is a slight decrease of sales in the Downtown Miami area. For example, Marina Blue condo which is located right in front of Bay Park … (0 comments)

real estate market: Guess who are the prominent buyers in the USA ? - 08/18/17 09:40 AM
The U.S. real estate market is picking up from last year and it continues to attract buyers from all over the world. According to the National Association of Realtors, foreign buyers purchased over $102.6 billion worth of residential properties in 2016.  It comes as no surprise that a large majority is Chinese, however who would have expected the Canadians to come in the second place? Canadians purchased over $19 billion in real estate despite not being exempted from tax implications such as the homestead tax and withholding tax. Granted, U.S. buyers are also in the same boat since they have to … (2 comments)