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Tag Archives: real estate sales

Why are domestic property buyers taking their time?

Why are domestic property buyers taking their time?

The New Federal Tax Law signed at the end of 2017 by president Trump has clearly created a new trend of Tax Refugees trying to escape the high taxes of northern cities, to the shiny and tax privileged Miami. The most affected ones are the wealthy property investors after the law reinforced a deduction for state and local property taxes at $10,000. However, this doesn’t mean that these buyers are in a rush for changing residency and moving out to Florida.

This story has been all over the news, with shocking headlines it might have been misinterpreted as a drastic and radical movement that was happening from one day to the other. Nevertheless, this is not precisely the reality.

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Posted by on August 21, 2019 in News

 

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Why are Foreigners disregarding the U.S. real estate?

Why are Foreigners disregarding the U.S. real estate?

Foreign buyers in the U.S. have dropped by half in 2019 compared to the previous two years. Only in 2019 compared to 2018 there was a decrease of -36% in residential real estate, foreigners only spent $78 billion in 2019 compared to $121 billion in 2018.

Fewer foreigners buying residential homes in the US has pushed a decrease in listing prices. With lots of inventory and no buyers to fill them up, the market has switched from a seller to a buyer’s market. It is shocking the magnitudes of the drop as we have reached the lowest level of foreign residential investment since 2013.

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Posted by on August 9, 2019 in News

 

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How the Miami River has flourished?

How the Miami River has flourished?

It is known that all great cities have been built along rivers. New York, Paris, London, Chicago, are just a few examples. It would be impossible to say it is just a coincidence! There a lot of riverfront advantages that have helped the commercial developments of cities. The half-mile long Miami River is not the exception. Miami was meant to be one of those big metropolises.

The 5.5-mile long Miami River is one of the most unique and authentic features that characterize Miami nowadays. It is so hard to think that it hasn’t always been this way, but it is actually the case. In 1950 the Miami River had a really bad reputation as everyone considered it like a cesspool. It was the last city in the U.S that pumped sewage into the river. It was only used for hosting cargo ships and marine repairs. Nowadays the story is completely different.

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Posted by on April 26, 2019 in News

 

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How to compete in the rental market?

How to compete in the rental market?

In the past, Miami’s developments were strictly targeted to buyers. Developers were building with the only purpose of selling as many units as possible, but we have seen in the past few years the beginning of a new trend. Miami is becoming more and more a city of renters and even more short term renters. This has pushed high-end units to change their strategy.

In a seasonal city as Miami, units are more attractive if they allow rentals, the shorter the better. For instance, new developments as the Panorama Tower on Brickell, unlikely its older peers, is now seeking to target leasing deals.

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Posted by on January 25, 2019 in News

 

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4 Biggest challenges for Miami’s real estate

4 Biggest challenges for Miami’s real estate

It is not a surprise that the Florida’s real estate market isn’t in its best shape today. The market has been facing different barriers that haven’t allowed it to grow as the some years before. In this week’s article I will explain some of the biggest problems that the industry is trying to bear.

1. Climate Change

We have all heard rumors saying that Miami is going to flood under water in a few years. Unfortunately, we have to say, somehow it is not false.

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Posted by on January 11, 2019 in News

 

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How to filter your price range when buying a new home?

How to filter your price range when buying a new home?

Are you planning to buy your first house and don’t know what price range to search for? Or are you only curious about how much is your price-to-income guideline? Well, this was the main questions the study of Hosing Markets and Finance made by the American Enterprise Institute’s Center (A.E.I.) was trying to solve.

If you were trying to find a magical equation that gave you the specific amount you can spend on buying a new home, I am sorry to tell you that it is a bit more difficult than that.

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Posted by on December 20, 2018 in News

 

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The noiseless real estate of Miami

The noiseless real estate of Miami

According to the public records compiled by Cranespotter, Miami’s real estate has suffered of a downshift that is just now starting to recover.

Out of 350 units over the $5 million dollars that are today on the market, only 6 units are sold per month. And out of this closed deals, 96% of them had to decrease their price for closing. However, the average percentage of reduction is only 5% under the listing price. Investors are just trying to get rid of their South Florida real estate assets.

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Posted by on December 7, 2018 in News

 

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