Miami Beach Local Market Conditions 1Q 2007

Real Estate Agent with ONE Sotheby's International Realty
Call any time Toll free at 1-888-38-DREAM/37326 to chat Miami & the Beaches local market conditions. Now is an ideal time to buy in Miami Beach! WHY? Great inventory, low interest rates (for those who need financing) and some very motivated seller's.This current South Beach market is still growing and is a great place to invest for the long-term. With very limited space, the exciting nightlife scene, incredible outdoor activities & restaurants, the Performing Arts Center (PAC) in Downtown, American Airlines Arena (Miami Heat games,concerts) the Financial District of Brickell and the Amazing Beaches, make this a very desirable place to live. Panoramic Ocean, Bay & Cruise ship views entertain from luxury high-rises and waterfront homes. Our South Beach market is surprisingly still undervalued when compared to New York and California. The weather is perfect almost year round and the action never stops.

South Beach has new construction on the point selling at approximately $900-2100 per square foot. Icon, Setai has original investors making a fortune on their pre-construction purchases. You can still find 1 Bedroom resale apartments in the low $200's in the heart of South Beach. Many Conversions are taking place here with starting prices in the mid-200's. For the investor making less than adequate income, SoBe is not a place to purchase but to rent a property. 1 Bedroom rentals start at $1,100/month. Small apartments (650 square feet), nicely redone are selling at $225,000. Small Oceanfront studios are now selling at $225,000+ and it is becoming harder to find. The new condominiums in the prime locations (SoBe,SoFi) are selling for over $2,000 per square foot!

Miami Beach has become a place for the wealthy investor. How do you afford to live here if can't afford to buy? Besides renting, moving North is the Trend. This includes Intracoastal & Bayfront Properties throughout 67th Street and 71st Street selling for $200+ per square foot. Also Normandy on the water and golf course has some great potential, with some of the best restaurants Miami has to offer (Katana's, Las Vacas Gordas, Prima Pasta, Tamarind). The Island of North Bay Village has the best views and values for Miami beach island living.

Call me any time for further information or to begin discussing properties of choice at:

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Think Big, Aim High, Act Bold, 

Ashton Coleman 
(888) 38.Dream |Toll Free 
(786) 27.Dream |Office
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Broker-Associate Keller Williams Miami Beach 

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Blanca Cholewczynski
U - Oak Brook, IL

Welcome to Active Rain Ashton, Welcome Wagon - A newbie manual to Active Rain  I hope this link helps you navigate this site.  See you in the rain! : )

Feb 25, 2007 05:44 AM #1
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