More sales and more listings: Miami Dade Real Estate market is growing

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According to the Miami Association of Realtors, the times are looking good for both potential buyers and those looking to sell their property in Miami- Dade. With more sales and listings, a significant activation period has begun.

Property values for residential homes in Miami on the rise

Doral Real Estate Miami

Both Single-family units as well as condos sale are thriving. The sales continue to go up at an increasing speed when compared to 2012. In addition, the number of homes in financial trouble is going down, including those in foreclosure. This past August was a good month for both property values and sales.

According to both Miami Association of Realtors and MLS, South Florida has seen sales going up, and especially with closing price tags extremely close to initial asking prices. The amount of single-family homes sold went up 15% from 1051 last year to 1210. Moreover, condos sales also went up but at a slower rate, 7.9%

In addition, price tags on single-family homes went up 20.5%, and 2.2% compared to previous months. For the past 26 months condo sales have gone up consistently, achieving today a total 27.5% increase and a 5.5% increase compared to the figures this past summer.

Miami sees a decline in forecloruses

The success in the current market is also proved by the decreasing number is foreclosure homes. Recently in Miami Dade County, the number of homes at financial risk has gone down significantly and surprisingly. This past august only 36% of homes sold were in financial troubles, including foreclosures and short sales, compared to 45% in 2012.

In addition, property values for both single family homes and condos sold in foreclosure also went up, with a 19.7% rise for single family homes and 24.7% for condos.

Miami Real Estate is almost SOLD OUT

The boom in the market causes properties to fly away off the market. Properties are selling quickly at a prices very close to initial asking prices. In the month of August 2013, single-family homes were an average of 35 days on market before selling, and condos came in close at 46 days. Also, selling prices of single-family homes came at 96.2% of initial asking prices, and condos slightly higher at 97.2%
Urban Miami
Most definitely, more listings are needed in order to fulfill demands in the market. Active listings at the end of august went up 3.1% compared to 2012. In spite of the increase in properties listed, the demand is not fulfilled. More new properties on the market are needed to satisfy these new demands.

As the market continues to blossom pre constructions are more prevalent than ever to meet our consumer needs.

French are Top Buyers of Miami Real Estate

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Downtown Miami Condos
Miami’s striking blue water, luxurious architecture, and vibrant community have caught for decades now the eyes of international investors. The Miami real estate market has had a history of attracting a diverse pool of international buyers. With South America straight at the top, Miami has had a history of various types of buyers and investors. Countries such as Brazil, Venezuela, Argentina, and the UK have been friendly to the market. A new player is now stepping into the South Florida market. Trends indicate that the French stand now amongst the growing buyers of the market. The expansion of French buyers is most definitely positive and exciting or Miami sellers and realtors.

A welcoming bonjour to all French investors in Miami

miami beach condos
Miami Real Estate News

As of April of 2013, France was the country which most searched for Miami real estate on, the Miami Association of Realtors Web site (right after the US, in the first place). This could have its origin in the extreme taxes France imposes on the wealthy.

Most significantly, the strengthening of the real estate market in most cases has been a consequence of the international efforts between cities and countries, which leads in return in economic expansion and increasing demand for real estate. Because of this outreach, Miami has become a more attractive investment for the French, who are ranking above all other European countries. Already since 2012, French buyers have been active in the New York City market. Now they are looking a little south.

Perhaps it also has to do with the fact that ever since 2005, the City of Miami has been present at every Paris expo, and has also signed an agreement with the real estate association in Paris, FNAIM. In addition, Miami has participated at the Salon National de l’Immobilier conference and has also made efforts to associate to Haute-Garonne and the French Riviera.

Real Estate Growth due to Foreign Investors Seeking New Markets Abroad

Similar to the Canadian investors, the French buying in Miami are interested in out beautiful weather, sunshine, convenient air traffic, and frequent flights, and the strong rental market in Miami. The absence of state income tax is not a minor detail. For those French investors escaping high taxes in their native country, the opportunity to invest in Miami seems ever more appealing (the relatively new 75% income tax on the rich has not been a hit as we know).

homes in miami

Most international buyers in Miami real estate are cash buyers. The French buying in the South Florida market belong to this group of buyers who bypass the lending options and do all cash deals.

Another surprise has been Belgium, which for the first time has appeared within the top 20 countries searching on Even beyond France and Belgium, it seems to b the case that the real estate market in Miami is diversifying and establishing itself as a prominently international pool. More so than other cities in the US, Miami is positioning as an open and inclusive community, with a wide range of investments for both residents and those who wish to benefit from the great rental possibilities.

In the meanwhile, Brazil and Argentina, who were some of the strongest international buyers in real estate in Miami, have slowed down whereas Venezuela and Colombia have gained significant force once again.

Brickell Preconstructions

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The Hottest Pre-constructions in Brickell Real Estate

Brickell Pre-Constructions are developing Brickell into the metropolitan city it was meant to be. Not only is it distinguished as one of the largest financial districts in the United States, but it has also developed into an urban center of businesses, banking, investment firms, and consulates from all over the world. With its ever-growing residential population and its construction and retail expansion, Brickell has become the it place for potential buyers looking at Miami real estate.

For these buyers, Brickell Pre-constructions might be just one’s turn to make an investment in the future. A diverse offer of Brickell condos can be found; all offer their own unique touch in luxury, high end finishes, and spectacular location.

Le Parc at Brickell invites you back to nautre

Just steps from all shopping and dining venues, highways, and parks, Le Parc at Brickell offers a high standard quality of living. Perfect for those seeking to be in the heart of Miami’s development. Offering one, two, and three bedrooms, as well as luxury townhouses, this Brickell Condo introduces spacious floor plans and spectacular views. With extensive balconies, common outdoor kitchen, and state-of-the-art fitness center, Le Parc at Brickell suggests a healthy outdoor life-style perfect for active residents. This Brickell Pre-construction is pet friendly, offering easy access to Simpson Park for daily walks.

Le Parc at Brickell will save you money and the environment with its efficient energy use and eco-friendly features. Le Parc at Brickell is not only a LEED certified building (Leadership in Energy and Environmental Design) but also introduces units with all energy-efficient appliances, electric car-charging stations, high-efficiency AC units, and insulated, UV-blocking glass windows.

MyBrickell is bringing sexy back to Miami

Overlooking the Miami River, MyBrickell is a Brickell pre-construction that promises to offer only the highest end living standard in the area. This urban, artsy, fresh Brickell condo adapts to each residents lifestyle and preferences. Its energetic and modern tone fits the young professionals taste and expectations. Residential units impress with dramatic floor-to-ceiling windows, terraces with stunning city views of river and bay, open-concept floor plans, energy-efficient, and impact-resistant windows.

This Brickell Pre-construction guarantees sophistication and comfort. The condos offer luxurious kitchen and bathroom finishes such as contemporary Italian cabinetry, state-of-the-art stainless-steel appliance package with refrigerator/freezer, range with glass cooktop, imported designer tile floors, frosted glass shower enclosures, and designer faucets and fixtures. MyBrickell’s Internet equipped common spaces include cutting edge swimming pool, observation deck and fitness center. Just take a quick elevator ride to the 25th floor and enjoy a 360 view of Miami, Biscayne Bay, and the Atlantic Ocean.

BrickellHouse: Real Estate for the Modern Buyer

Brickell Pre-constructions might just have reached another landmark with Brickell House. This 46-story ultra modern luxury residential tower assures refined yet laid-back comfort living. Brickell House is steps from Miami’s international business centers, government offices, as well as entertainment venues and the arts. Prices range from $600,000 to $1.6 million.

Residencies go up to 2,600 square feet. BrickellHouse offers spacious layouts (studios; one, two, and three bedrooms), expansive private balconies, smooth-finished ceilings, spacious walk-in wardrobes in master bedrooms, expansive private balconies accessible from living rooms and master bedrooms, and floor-to-ceiling sliding-glass doors and sound-reducing, impact-resistant laminated glass throughout.

This condo assures only the top quality service with its 24-hour welcome desk with concierge and valet, advanced smart-building technology throughout with high-speed wireless Internet access in common areas, and five high-speed controlled-access elevators. Impressive 50-foot-long lap pool, elegantly furnished Resident Club Room, children’s playroom, and luxury health spa complete the picture of extravagance and refined leisure time that Brickell House will offer its residents.

The hottest Brickell pre-constructions just got hotter with mind-blowing amenities, state of the art finishes, and world-impacting eco friendly features. There is something for every potential buyer out there considering investing in the future of this jet-set district.

Why Invest in Brickell Real Estate?

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Living In Brickell

Brickell is home to the Financial District in Miami, boasting the most international banks than any other city in the United States. Given Brickell’s relation to South America with the Port of Miami many Wallstreet Firms have moved their offices to Brickell to expand their markets into South America. Given the international investment Brickell has boomed in the last ten years. Brickell’s population increased 44% between 2000-2010 according to the US Census, with an average income 38% higher than citywide Miami. This has increased the property values as well as the cost in rent. In addition, most of the the professionals working in Brickell are 20-44. This has led to creating a high-end nightlife in Brickell. Brickell’s nightlife has become exclusive in Miami with hotspots like Segafredo and Blue Martini.

With a population of 71,600 in Downtown Miami and the 200,000 work-day population, Brickell has attracted many restaurants and retailers.

Restaurants in Brickell

Brickell Restaurant industry is up to par with Miami Beach, bringing in 8-10 million a year for high end restaurants. In 2012 we saw Brickell’s fine dining industry grow with the openings of Toscana Divino, PM Miami, Mint Leaf Indian Brasserie, and Doraku Sushi. If you are a fan of Japanese Sake then I suggest you try Doraku Sushi’s expansive Sake options along with house Sakes and quaffing flavored Sakes -the apple sake is my personal favorite.

Looking into the future, Brickell’s restaurant industry means business with China Grill, Meat Market, and Cipriani opening later this year. Meat Market has become a toothsome steakhouse in Lincoln Road attracting steak connoisseurs.

Buying in Brickell today would be a great investment, whether you are looking to live, vacation or rent out. In addition, Brickell has built an economic foundation gathered from many different markets.

In addition, Brickell restaurants have developed a relationship with locals with their weekly specials. My personal favorites are Happy Hour at Piolas and $10 Pasta Thursdays at Perricones. Brickell’s hospitality industry saw the demand by locals for a place to eat, drink, relax, and maybe even shop. Thus, in 2006 was the opening of Mary Brickell Village.

Demand for Brickell Real Estate Continues to Rise

Brickell’s Financial District is comprised by young professionals who have lived in New York or abroad; thus, many prefer the city life where you can easily walk anywhere. With a supermarket close by, Publix, and a gym, LA Fitness. These young professionals rather use public transportation, which Brickell offers with Downtown Miami’s metromover or the trolleys. Both of which are free services.
In addition Downtown Miami has seen an average increase of 2,600 residents per year according to the 2010 Census. This has resulted in all 62 Condos built since 2005 in Downtown Miami and Brickell to be 96% sold-out. Only 794 units remain as current inventory from the last eight years. That may seem like a lot of empty condos, but with the 2,600 residents moving in early in Downtown Miami the real estate prices will continue to climb. In addition, total inventory since 2005 is 17,502. That means that there is only 4.5% remaining inventory as of now. The average listing price right now (June 2013) has increased 27% since December 2012. In addition retail prices are also climbing in Brickell as available inventory of homes continues to shrink.

If you want to sell in Brickell now is the time, with Pre Construction not yet Move-In Ready, and the current price-per-square foot at $428. That is a 21% price increase per square foor in the last 12 months. In 2011 the average DOM for Brickell and Downtown Miami Real Estate was 180 days, today it is averaging 35 days.

Miami Real Estate Prices Continue to Rise as Demand Surpasses Supply

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High Demand for Miami Real Estate

Miami’s Real Estate has always been an exclusive investment, due to our beautiful beaches and sunny weather. Over the last year Miami’s Real Estate market has rebounded as demand for Miami properties has risen. Local Properties are being sold quickly due to the scarcity of properties available. The scarcity of supply has led to an increase of Real Estate prices over the last year.
According to MLS and Miami Association of Realtors, single family homes and condos have been increasing over the last 16 months. For instance, the median price for single family homes rose 25.1% to $225,000 compared to last year, with a 16% price increase in March alone. This has been the biggest price increase of single family homes since the boom of 2005.
Due to the high demand of Real Estate, we have seen an increase in Property Values. With the recent increase in your property value, now is an ideal time to sell. According to MLS 40.85% of homes sold within 30 days from January 1st to May 31 of 2013, with a median of 45 days in the market.

Rising Property Values in Miami-Dade County

Due to the high demand for Miami Real Estate the median asking prices for single family homes in March was $225,000, that is a 25.1% increased compared to last year, and a 16% increase compared to the month of February.
The median listing prices for Condos has been increasing steadily for the last 21 months. In march the median price for a Condo was $167,000; that is a 19.3 increase from last year, and a 1.2% increase from February.
In addition due to high demand homes sold within 30 days are sold at 98% of asking price, or 96% if sold within 90 days.

Strong Sales Continue in Miami

In 2013 we have seen an increase in property sales in Miami. Residential Sales in Miami-Dade County increased 2.7% in march, compared to record sales of last year. Single Family Residential sales in Miami-Dade increased 6.1% from 963 to 1022 homes. Condo sales increased 0.5% from 1451 to 1458.

Good time to Sell

The number of houses in the market at the end of March decreased 5% from 13760 to 13607 compared to March 2012, when there was already a scarcity of homes in the market. The inventory of single family homes decreased 9.7% whereas the inventory of Condos decreased 1.7%. At this rate there is a supply of 5.1 months for family homes and 5.9 months for condos in Miami-Dade. This present increases 19.1 and 6.6% respectively, compared to last year.

Decrease in ROE and Foreclose Sales

We are seeing an increase of prices in ROE and foreclosed homes, thus the demand for them is falling. In March 41% of closed sales were ROE, short sales and foreclosures, this is a decreased of last year in which closed sales for march were 49%.
Median prices of Condos and Residential Homes in mortgage rose 10.1% 144,000 and 23.6% to 105,000 respectively.