The Real Estate Mango
Archive for the 'Market Trends' Category
The former GOLDEN SANDS Hotel and Spa at 6901 Collins Avenue, a block north of the Canyon Ranch, has been sold to a joint venture that plans to develop a boutique residential tower on the property.
The luxury 20 story tower with only 14 residences on the oceanfront property. Each unit would occupy an entire floor, with a 7000 square foot penthouse taking up the top two floors.
The venture hopes to start construction later this year.
The very strong housing market combined with investors’ strong demand for beachfront properties made this an good time for the sale of this property.
The Real Deal South Florida Market Report is now a supplement inside the April Issue of The Real Deal.
Inside this 70 page report you will find all the information on the latest condo boom from Brickell to Midtown Miami.
The Related Group and Crescent Heights want to build a 50 story residential building.
The new condo tower would only have 4 units per floor. Most of the condos would be priced at $2 million. The penthouses would sell for $10 million.
Related Group and Crescent Heights are calling public meetings to build support going into the city approval process.
A new study says that the MIAMI HOUSING MARKET will see home prices rise by 14% FROM 2012 TO 2018 according to the latest report from the Demand Institute. We have already seen prices rising steadily for two years, now and we will see that the new construction prices are higher than any existing comparables.
This information will be very useful to you, going forward. If you are thinking of buying a home, now is the best time. There are still affordable homes on the market.
As for new construction, the pre construction prices are a good deal. Your new purchase may appreciate while you are waiting for the finished product.
If you are thinking of buying or selling, call me today….Lee Heuer 305 607 1943
According to Realty Trac South Florida again leads the nation in foreclosure filings. There were 10,302 foreclosure filings in Florida in January. This is a 50.4% surge from December.
The foreclosure crises will linger a bit longer, even as South Florida home prices heat up.
Thousands of young people are demonstrating in many cities in Venezuela. They are protesting the unjust government that fails to represent the people. They are appalled at the murders that have been recorded over many months.
They feel that the government has taken social media off air and off line. The government has shut down Twitter. Freedom has been shut down. SHARE THIS VIDEO https://yrj8usi8t5zbg6zcefy4.r.worldssl.net/video/que-el-mundo-sepa-whats-going-on-in-venezuela-en-ingles/#.Uv_oSfMtaPQ.facebook
Real Estate professionals believe that 2014 is set up to be a positive year for real estate.
According to a U.S. Economic outlook report a 9% a year over year increase will be seen in the first quarter of 2014. The National Association of Realtors predicts the third and fourth quarter will experience year over year increases of 54% and 33%
Everything looks promising but there are some questions…the future of interest rats are uncertain. Inventories are still low and if the demand stays high with more buyers than properties…prices may go sky high.
New construction is still flourishing. According to Chris Zoller of EWM the increase in inventory will come from new construction.
Flood Insurance decisions by the federal government will impact sales and may prove problematic.http://miamiagentmagazine.com/new-construction-expansion-employment-miami/
In 2013 the average size of a new single family home rose.
It is thought that the increase is due to the non typical buyers in the market place. This is an interesting phenomenon showing that buyers from various parts of the world have different needs.
This month starts the second year of Water Taxi Miami.
These boats will add passenger pick ups, and an on call service which will be like a regular land taxi. It can go at fast speeds and reach distant places like Dinner Key, downtown Miami, and Bayside and Miami Beach among others.
People with Florida Ids will have a 50% discount.http://www.miamitodaynews.com/2014/01/15/water-taxi-miami-expands/
CHRISTIE’S INTERNATIONAL REAL ESTATE has a new report out called ATLANTIC INSIGHTS. This publication has the pulse of the luxury market world wide.
The 3 Top Luxury Markets in the world are London, MIAMI, and New York.
These cities offer the most cultural, business, and transportation accesses world wide.
Homes in these cities are being built at a tremendous rate. And prices are climbing exponentially.
In Miami Beach, the “Palazzo D’Oro” penthouse at the Mansions of Acqualina is listed at 55 million. This is the most expensive listing in South Florida.
WHO ARE THE BUYERS? Wealthy people from all over the globe are gravitating to these cities. Many are the new young millionaires who are looking for fantastic amenities, many of them need more athletic amenities, more waterfront amenities.
We are proud to be an affiliate of Christie’s International Real Estate.
Please call me today 305 607 1943 for more information on luxury real estate in South Florida.