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TO RENOVATE OR NOT TO RENOVATE

Even though the final numbers are not ready, all indications are that South Florida’s housing market performed well beyond expectations in 2013, especially in the higher price ranges. Buyers who can afford high-end properties expect items and extras that are well above what one may find in lesser priced properties. The higher the price point,… read more.

SOUTH FLORIDA – THE “NEW” HAMPTONS

The South Florida real estate market continues to sizzle with no end in sight.  The demand for mansions and ultra-luxury condos is especially strong.  According to a recent CNBC report, a surge in demand from New York buyers is more than compensating for the slowdown in Latin American buyers.  The New York buyers are no… read more.

AN UPDATE ON FOREIGN BUYERS

Once again, real estate is leading the South Florida economic recovery.  According to a report issued by the Federal Bureau of Economic Analysis in September 2013, real estate was the number one contributor to economic growth in 2012, accounting for 31 cents of every new dollar added to the tri-county areas $274 billion economy.  Overall,… read more.

2013 MID-YEAR UPDATE

During the first half of 2013, South Florida’s housing market performed very well and this was especially true in the higher price ranges.  Looking at Broward and Miami-Dade together, the residential market for all properties over $1 million grew with a 30% increase in sales over the first six months of 2012.  Available inventory dropped to a sixteen… read more.

INTERNET REAL ESTATE SEARCHES

In today’s digital world, finding real estate information is relatively easy using the Internet.  One can search for homes for sale anywhere in the world.  Sellers can use the Internet to advertise their homes through social media sites such as Facebook, YouTube, Craigslist, etc.  If all of this sounds like the real estate process has… read more.

ANOTHER HOUSING BUBBLE?

The housing recovery in South Florida is only in its early stages, but some pundits are already stating that we may be heading for another real estate bubble. A real estate bubble can be defined as a type of economic bubble that occurs periodically in real estate and can be identified by a rapid rise… read more.

STRATEGY FOR CHANGING MARKET DYNAMICS

It’s practically common knowledge today that the market has changed dramatically and quickly from a buyer’s market to something closer to a seller’s market.  More buyers are now competing for a limited supply of homes and buyers need to make sure their initial offers are as appealing as possible if they don’t want to run… read more.

SOUTH FLORIDA HOUSING MARKET UNDERGOES TRANSFORMATION

South Florida’s real estate recovery continues.  According to Brad Hunter, chief economist at Metrostudy Research based in West Palm Beach, “A complete transformation has occurred in the real estate market.  Two years ago, buyers were holding back because prices were still falling and now there is urgency to buy.”  As South Florida’s housing inventory shrinks, so… read more.

COMPARING 2012 WITH 2002

If real estate history repeats itself and the economists are correct, 2012 was the new 2002.   A look back at 2002 in South Florida looks very similar to 2012.  Ten years ago, combined numbers for Miami-Dade and Broward showed an overall inventory level of just over 20,000 residential properties for sale or about five months of… read more.

LUXURY PROPERTIES ARE IN DEMAND

South Florida’s housing market improved dramatically in 2012, with sellers regaining the upper hand amid growing confidence in a revitalized housing market.  It went from one of the country’s hardest hit housing markets to one of the most improved.  Strong demand paired with limited inventory helped fuel a recovery in pricing, which was good news… read more.