Last weekend, Hurricane Irma greeted Florida with huge wind and heavy rain. Miami Beach was no exception and the city braced the incoming storm with bravery. The city fared incredibly well. There was careful planning and the lack of damages is indisputable. Electricity power were on all the time and just four days after the storm, all businesses are back on their feet.
The U.S. Treasury Department is extending its all-out attack to stop money laundering. Federal regulators are eyeing high-priced housing markets such as Miami and New York in their operation. Their goal is to limit activities that misuse shell companies as a mean to launder money.
In 2008, the housing crisis in the United States left many people in a state of panic. The housing market collapsed and prices dropped. It took 5 years for the market to recover (for example, a unit in Murano Grande was sold for only $1.85 million in 2012 whereas last year it was sold for $2.55 million, a 37% increase). Now, United States’ neighboring country might face the same situation.
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It’s the third quarter of 2017 and Miami real estate continues to attract buyers from all over the world despite the slowdown last year. A strong dollar and weak foreign economies were the biggest factors for 2016’s sales decrease ( down 25% in the first six months). However, this year seems to be a new chapter. Investors and homeowners are slowly gaining confidence. Let’s take a look at some key-points to better the understand the evolution of the Miami real estate industry. Read the rest of this entry »
Investing in real estate seems to be so easy according to the media. Who has not seen a TV show or read a book on how to become a millionaire investing in real estate? Nevertheless, you have to watch out for a few common mistakes. Let’s have a look at a few.
Some immigrants, even those with a valid work permit, who were planning to buy a house, are sceptic nowadays. A few even withdrew their offers. For example in San Francisco, an Indian software engineer cancelled an offer for a house at $900,000. This is not the only case in the US, immigrants do not feel safe enough to make the biggest investment of their lifetime in a country where they might not be so welcome anymore. This fear could hurt to a certain extent the residential real estate market. Read the rest of this entry »
How does the beginning of the year look like? It’s still early to draw a conclusion but it looks far better than 2016. Furthermore, with Trump as the new president many things are expected to change, as we have already experienced with the mortgage rates.
Holidays are over so sales should start moving. In the last two weeks, buyers seemed more interested and we experienced some movement. The luxury market is still good independently of what it’s happening around the country. Read the rest of this entry »