The Real Estate Mango
Archive for the 'Market Trends' Category
According to a report from a company that monitors building permits, Metrostudy, 1659 permits were filed in the first quarter, a 22% increase from the first quarter.
New home building in South Florida boomed in the first quarter of the year. Housing starts were up 16.6%.
Home prices are leveling off since last year. At this time last year, median prices in Broward and Palm Beach County were increasing by 20%. This year house prices leveled off with increases of 11% in Broward and 6% in Palm Beach County.
Although single family home price increases have eased allowing more buyers into the market, condominium prices remain strong….up 26% from last year in Broward and 21% in Palm Beach County.http://www.sun-sentinel.com/business/realestate/house-keys-blog/sfl-home-prices-link-20140422,0,3208740.story
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.