All the big names are doing one thing: they throw lavish parties. A condo project typically needs to sell 50 to 60% of their inventory before being able secure construction fundings from banks. This is probably why they are doing everything they need to attract buyers. This is especially so when bank loans has dried up for new upcoming projects. Read the rest of this entry »
Tag Archives: real estate market
Here is the thing: Miami knows how to attract the wealthy. What seems to be the vacation place for others is a residential home for the ones with big bucks. Miami is a heaven for the American’s elite and here is how Miami attracts them: Read the rest of this entry »
Despite the unpleasant news on the Zika virus, hurricanes and a slowdown of the real estate market, Miami is still the place to be.The Miami Association of realtors noticed that the market of the single-family home had a peak in sales during the month of August. The peak was both in volume and in prices and most of closed sales were all-cash. Read the rest of this entry »
In a previous article, I told you we were in a seller’s market. But where are we heading? Even though there is still a lack of homes for sale, the mortgage rates are, slowly but surely, going up. As a consequence buyers could become scarcer. Here’s a look at four items to better understand the rebound of the housing market at a national level.
First of all, the real estate market shifted in a short amount of time. In a regular market, prices increase after the inventory of houses for sale shrinks. In this unusual recovery, things went the other way around. Without shrinkage of inventory, developers decided to increase prices. They actually even admitted they pushed prices too far. For instance, when you compare the new home orders year-over-year, the demand only increased 1% in August against 11% in July. Nowadays, purchasers are more thoughtful before investing in a condo.