Tag: Miami Real Estate

Categories
Buying Investment Real Estate

Thinking of Buying Real Estate For Your Children?

I started receiving graduation announcements from friends’ children and my own son will be graduating in May.  With all that is going on in the economy, I started thinking that maybe my husband and I should buy real estate that one of our three children could eventually live in.  If you consider how much properties, salaries, job opportunities and the stock market has dropped and how much rents have risen, it kind of makes sense doesn’t it?  Would you purchase property that your children could live in once they graduate?  Or have you already?

Categories
Buying Investment Real Estate Renting in Miami

Is Renting a Temporary, Short Term Trend or Part of the New Normal?

Rents are tight in most markets and, due to the numbers of foreclosures, short sales, and number of people who have lost their jobs or have had their work  hours decreased, the trend is expected to continue at least for the short term.  However, Jim Woodard predicts this is a temporary trend.

If you are a renter, you may want to consider the affordability index in the city you live and work in and calculate the cost of renting vs. buying.  If you are a landlord, you may want to look at Money Magazine’s Best Cities to Be a Landlord list

 

 

 

 

 

 

Categories
Buying

Miami Real Estate: The Market Continues to Improve

Still don’t think it is time to get into the real estate market? Our Coral Gables EWM office had another phenomenal week, posting over $14 million in sales. We only took five new listings yet had 23 properties go under contract. Although prices are bouncing along the bottom, as inventories decrease we expect to start seeing prices start to head up. These increases will be neighborhood and building specific.

Categories
Buying

Miami Real Estate: More Signs Market Is Improving

Technology jobs tend to be higher paying jobs and according to Bloomberg BusinessWeek, three of the ten cities leading the nation in tech jobs are in Florida. Miami ranked seventh, Jacksonville ranked fourth and Tampa ranked 8th. High paying jobs + buyer’s market + high affordability index = real estate sales. The challenge for these three cities will be providing the skilled workers required for these jobs because although the tech jobs are increasing, if the companies providing the jobs can’t find employees in-state, the will hire them from elsewhere. That will still improve our real estate market, but won’t help lower our unemployment rate.

Categories
Neighborhood News

Miami: Smart Growth Results in 9% Population Increase

According to the National Association of Realtors, 56% of Americans prefer smart growth neighborhoods. These neighborhoods are defined by having retail,restaurant,and businesses within walking distance of home. During the building boom, all of these were added in the downtown Miami area, which is a large reason why the area has seen a 9% increase in population in 2011, as reported in today’s Miami Herald.

Although many may argue that people moved to downtown Miami because of the low rents, if the area hadn’t added a lot of the social infrastructure at the same time that condos were being built, people would not have moved to the area as quickly as they did.

Categories
Buying Market Summary

More Construction…Signs Of An Improving Market

Ponce/Davis Lot Under Construction
 
Here is another construction site on Ponce de Leon East of U.S 1 close to 88 Street.   I blogged about another site that has just been cleared and is being prepared for a new home.

More Proof Miami-Dade’s Housing Market is Turning Around

The new building is not limited to the affluent Ponce/Davis area either.  Drive around just about any where and you will see signs of new construction.  Real estate prices have plunged and buyers who can’t find what they are looking for, or builders trying to meet new demand, have gotten back into the market.  Another sign the real estate market is starting to turn.

Categories
Buying Neighborhood News South Miami

Buying Real Estate in Miami? You Need A Realtor.

I received two phone calls from buyers last week.  They were calling me on a sign in front of a South Miami townhouse I have listed for sale.  Both of them wanted to see it, neither was working with a Realtor.  I explained to them that the townhouse was under contract but that I would be happy to show it.  One of them wanted to see it.  When I asked her how she found it, she said “driving around”.  After I showed it to her, she said it was exactly what she had been looking for, too bad it was under contract and could I let her know if the deal fell through.  I told her I would be happy to and asked her if she wanted me to help her find a home.  She said no, she would rather continue to drive around and use her Trulia app.

The second buyer was also a “drive by”.  He said he had been looking in the area for over a year (!) and still hadn’t found anything.  I tried to explain to him that by driving around, he is missing opportunities and will probably always be late to the good deals.  The South Miami townhouse had seven offers on it in the first week.  I told him Realtors have applications on their phones that notify them as soon as a property comes on the market, which allows their buyers to get a jump start on seeing and presenting offers.  He said he would rather keep driving around….  Now these “buyers” may just be habitual real estate shoppers who just like to drive around and look at real estate.  If you are a serious buyer, you really need to be working with a Realtor.  In addition to being notified as soon as a property that meets your criteria comes on the market, you will be saving a lot of time and gas!

Categories
Buying Market Summary Selling

Investors Taking Advantage of Strong Rental Market

Over the last several months I have written about different signs, see blog links below,  that the real estate market is changing.  Today’s Miami Herald article, Rents rise as overseas buyers invest, talks about some of the reasons why.

More Proof Miami-Dade’s Housing Market is Turning Around

Investors Are Taking A Bite Out Of Inventory

Miami Real Estate – Commercial Construction Also Picking Up

Miami Real Estate: More Signs the Market is Improving

Miami Real Estate: The Market is Changing

Categories
Buying Luxury Real Estate

Miami Real Estate: Waterfront Homes

 Whether you have a mega yacht or a dingy, Miami is a great place to own a boat.  In addition to the many marinas, the ultimate in boat ownership is to be able to pull up right to your own dock.  There are many waterfront homes in Miami that have ocean access.

 

 

 

Categories
Neighborhood News Pinecrest Selling

How Walker Friendly is Your Home?

Miami just ranked 8, with a score of 72.5,  in a walkability scoring of  the 50 largest cities in the U.S.  Having moved from San Francisco, ranked 2 with a walkability score of 84.9, I decided to check out my home’s walk score.  I live in Pinecrest, a suburb, so I wasn’t too surprised to find out that my walk score was pretty dismal at 22.  Not all areas of Pinecrest would score that low.  If your home is in the western portion of Pinecrest, which is a lot closer to shops and  U.S. 1, your home would score much higher.

Recent studies throughout the country have shown that more people want to give up commuting, and the accompanying high gas bills, and live in more walker friendly neighborhoods.  So, what is your home’s walk score?