Edgewater is the new neighborhood of interest blooming in the middle of the most relevant areas of Miami, between the design district and Downtown. Edgewater faces Biscayne Bay and Miami Beach. This area has been developing so fast since 2013. The neighborhood didn’t even have a name before that. How is that even possible?! The unique views and the closeness to the Design District, Midtown and the Arts & Entertainment District make it a central and desirable area. It also has an easy and quick access to the Miami International airport. Read the rest of this entry »
Despite the sales statistics we give out in our market analysis, people still ask me if it is the right moment to sell or the right time to buy a condo. I’d like to answer with another question: what is your time frame?This question is really useful for me to envision the direction you should take. Furthermore, it’s fundamental to clarify the situation both from a buyer’s point of view and from a seller’s point of view.For example, if you are buyer it’s important for me to know if you will buy, remodel and flip the house or if you want to move-in with your family and intend to keep it for the long term.If you are a seller, I would ask you why are you selling your condo? Is it a life changing decision such as moving to another city or are you just looking for a bigger/smaller house?
Let’s analyze these situations from different points of views and let’s check how they differ according to the neighborhood. Read the rest of this entry »
Statements like ‘the market is going down’ or ‘we’re seeing a market slowdown’ make us wonder about a future crisis but is realty effectively like this?
At the moment the market in Miami is just stable, it’s not collapsing. The volume of sales has decreased but not drastically, I would say that it has just cooled off and it is also considered a sign of solidity.
In the last 15 years the market has gone thru cycles of depression and growth. In Miami we have experienced a great boom over the past 5 years so it’s normal and healthy to go thru a slowdown. The real estate market is more sustainable that way. Read the rest of this entry »
Eighty Seven Park rings the bell of rejuvenation of a once sleepy part of town.
It sounds like Mid-Beach needed the help of Pritzker Prize-winner Renzo Piano to revive. Indeed, Renzo Piano just came up with a 18-story building in the middle of the park located on 87th Street. The Western hemisphere had long been waiting for Renzo Piano to build a residential tower on this side of the planet! Eighty Seven Park is surrounded by the ocean, the park and the trees. Read the rest of this entry »
We are currently in a preconstruction cycle that has started in 2012. All preconstruction that have been already completed have a very large inventory. There are still 11,000 preconstruction units left to be built and the inventory is foreseen to be even bigger than before!
For example, there are 228 months of supply at Echo Aventura for example. It means that among 1000 apartments at Echo Aventura, less than 5 would have sold over the period! Read the rest of this entry »
Even though prices keep on increasing in Miami, cash is still number one. Almost $1 billion of sales has been registered in March 2016 for residential units of single-family homes in Miami Dade. The median price went up by 7.7% as compared to the price for condominiums that dropped by 2.6%. Despite 5 years of record sales, Miami keeps on registering sales in the range of high price points.
Knowing that 50% of all transactions in Miami-Dade County are cash, it shows that home buyers are still very much invested in Miami real estate market. Read the rest of this entry »
The Apogee is one of the most iconic building of South of Fifth. With its stripped down outside glass walls, the Apogee has a very modern silhouette overlooking the ocean. Thanks to its extensive flow-through floorplans and ultra spacious balconies, the Apogee condo has gained a reputation as the most luxurious condo in South Beach. Read the rest of this entry »