Miami Real Estate-Bienes Raices

Tuesday, November 21, 2017

Miami-Dade County Single Family Housing Market Report through Third Quarter (Q3) 2017.

The Housing Trends eNewsletter contains the latest information from the National Association of real estate professionals, Florida Realtors Association and the Miami Realtors Association.

Miami-Dade County Single Family Housing Market Report through Third Quarter (Q3) ending in September 2017.

In the Miami-Dade County area, Inventory of Single Family Homes Active Listings, of Non-Distressed properties through the month of September 2017: 5,769

The Dollar Volume of Sales in Miami-Dade Cunty (Non-Distressed properties) through September 2017: 307,404,675

The Cash Sales of Single Family Homes, Non distressed through September 2017: 139

Cash Sales As a Percentage of Closed Sales (September 2017): 22.6 %.

Median Days between Orig. List Date and Contract Date for Closed Sales through
September 2017: 41

Median Days between Orig. List Date and Closing Date for Closed Sales September 2017: 91 (DOM).

New Single Family Home Listings in the Third quarter: 868

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
<a target="blank" href="http://Lazaro.housingtrendsenewsletter.com/homeworth.cfm">http://Lazaro.housingtrendsenewsletter.com/homeworth.cfm</a>;

Please click on this link to view the Housing Trends November 2017 Newsletter:
<a target="blank" href="http://Lazaro.housingtrendsenewsletter.com">http://Lazaro.housingtrendsenewsletter.com
</a>
The Housing Trends eNewsletter contains the latest information from the National Association of real estate professional, the U.S. Census Bureau, Realtor.org reports and other sources.

Housing Trends eNewsletter is also filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, consumer articles, community reports that map shopping, schools, recreation and more.

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your real estate professional in the future.

Sincerely yours,

Lazaro Lopez, PA
Fortune International Realty
1390 Brickell Avenue Suite 104 Miami FL 33133
305-400-6393 | 786-525-9430
Lazaro@fir.com

Tuesday, November 14, 2017

Colombia Tops Miami Real Estate Searches for Seventh Consecutive Month!

Colombian consumers have posted the most global Miami real estate searches for seven consecutive months, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida, a top destination for international home buyers, finished as the second-most searched U.S. market by Realtor.com international consumers in September 2017.

MIAMI — Colombian consumers have posted the most global Miami real estate searches for seven consecutive months, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida, a top destination for international home buyers, finished as the second-most searched U.S. market by Realtor.com international consumers in September 2017. Colombia registered 11.4 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in September 2017. Colombia has led the MIAMI property search rankings for seven consecutive months and 17 of the last 22 months.

“Miami real estate continues to be a top destination for consumers in Latin America but all over the world,” said Coral Gables Realtor Christopher Zoller, the 2017 MIAMI chairman of the board. “Canada, Ukraine, Spain, Italy, India and the Philippines rank among the top-10 foreign countries searching for Miami real estate.” Colombia Tops Miami Real Estate Searches for Seventh Consecutive Month.

Top-10 countries visiting MiamiRealtors.com in September 2017:

Country, Share of International Searches

Colombia, 11.4%

Canada, 10.4%

Ukraine, 5.5%

Venezuela, 5.2%

Spain, 4.7%

Brazil, 4.3%

Italy, 4.3%

India, 4.3%

Argentina, 3.8%

Philippines, 3.0%

Colombia: A Top Market for South Florida Real Estate

Colombian home buyers tied with Brazil in making the third-most international purchases in South Florida, according to the 2016 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Colombia had a 10 percent share of all international purchases in South Florida. Venezuela (15 percent) and Argentina (11 percent) finished first and second, respectively.

MIAMI again promoted its members, South Florida’s lifestyle and real estate market at Colombia’s largest property showcase, El XII Gran Salón Inmobiliario – Feria Internacional, on Aug. 24-27, 2017 in Bogotá, Colombia. MIAMI made a South Florida market presentation at the 12th annual expo, which attracted 30,000 visitors and 200 exhibitors.

Top-10 International Cities Visiting MiamiRealtors.com in September 2017

Ontario, Canada

Bogotá, Colombia

Kyiv City, Ukraine

Capital District, Venezuela

Buenos Aires, Argentina

Sao Paolo, Brazil

Antioquia, Colombia

Quebec, Canada

Madrid, Spain

Milan

South Florida is Second-Most Searched U.S. Market by International Clients

Miami-Fort Lauderdale-West Palm Beach is the second-most searched U.S. market by international consumers, according to Realtor.com September 2017 data. South Florida has ranked among the top-two U.S. markets for global demand for years.

Top-10 U.S. markets for international real estate demand: September 2017

Los Angeles-Long Beach-Anaheim, CA

Miami-Fort Lauderdale-West Palm Beach

Bellingham, WA

New York-Newark-Jersey City, NY-NJ-PA

Orlando-Kissimmee-Sanford, FL

Urban Honolulu, HI

Tampa-St. Petersburg-Clearwater, FL

Kahului-Wailuku-Lahaina, HI

Phoenix-Mesa-Scottsdale, AZ

Las Vegas-Henderson-Paradise, NV

Top-10 countries driving international demand in South Florida: September 2017

Canada

Brazil

Argentina

United Kingdom

Colombia

Germany

France

Spain

Italy

Mexico

(http://www.miamirealtors.com/news/news/releases/2017/11/13/colombia-tops-miami-real-estate-searches-for-seventh-consecutive-month).

#RealEstate #Realtor #Realty #Broker #ForSale #NewHome #HouseHunting #MillionDollarListing #HomeSale #HomesForSale #Property #Properties #Investment #Home #Housing #Listing #MiamiRealEstate #Luxuryhomes #10X #RealDeal #Colombia

Monday, November 13, 2017

Foreigners are getting serious about "Buying American" real estate.

The National Association of Realtors released a report Tuesday that said foreign buyers and recent immigrants spent an estimated $153 billion on American properties in the year ending March 2017. That was a 49% increase over the previous year and the highest level since record-keeping began in 2009.

The purchases accounted for 10% of the total value of existing home sales in the U.S. The report did not include new homes.

The breakdown of sales between foreigners and recent immigrants was about 50:50.

Blame Canada

America's neighbors to the north were one big factor behind the surge.

Canadian real estate investors nearly doubled their purchases of American homes over the period because of the relative affordability of properties in the States. Many Canadians have been squeezed out of property markets in cities like Toronto and Vancouver that have experienced rapid price gains.

Canadians were the second biggest foreign purchasers of homes after the Chinese. Buyers from China shelled out nearly $32 billion over the period, while Canadians spent $19 billion.

Trump turmoil?

Foreign buyers had to brush off U.S. political turmoil in order to make their purchases.

"The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year," said Lawrence Yun, chief economist at the National Association of Realtors.

"While the strengthening of the U.S. dollar in relation to other currencies and steadfast home-price growth made buying a home more expensive in many areas, foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest," he said.

Location, location, location

Nearly half of all foreign sales were in three states: Florida, California and Texas.

Canadians gravitated to Florida. Chinese buyers focused on California. And Texas was the preferred state for Mexican buyers.

New Jersey and Arizona were the fourth and fifth most popular states.

The report estimated foreign buyers typically paid just over $302,000 per property, up 9% from the previous year.

About 10% of foreign buyers paid over $1 million.

(http://money.cnn.com/2017/07/18/real_estate/real-estate-property-fo...).

Thursday, November 9, 2017

Miami condo price reductions in sales just 1.1% from list

Miami has seen a recent boom in not only condominium construction and sales but also resales.

While many buildings are still in the pre-construction or construction stages, there is always a demand for units in existing buildings, observers say. Of the 50 most expensive, prices range from $13.9 million for a 6,120-square-foot unit on Fisher Island to $55 million for a penthouse at Faena at 3315 Collins Ave. on Miami Beach. The five-bedroom, five-bath unit features 8,273 square feet of living space.

Though sellers of single-family homes priced at more than $1.5 million have had to drop their prices an average of 3.8%, condo prices were reduced by only 1.1%, according to the Multiple Listing Service.

“The top of the market is stable,” said Alicia Cervera, managing partner and principal of Cervera Real Estate. “It’s not a raging market – which everybody prefers – but it’s not in freefall, either.”

There’s no shortage of buyers, but different factors motivate them to buy, she said. “The reality is, you’re selling to a very small pond, maybe 5% of the population. People at this level have the cash; it just depends on when they want to pull the trigger.”

Cervera Real Estate advertises both locally and in targeted luxury publications. “The big shift is that you don’t market geographically, but to other demographic factors: where they go, what luxury items they consume. What appeals to them? Is it the boat show, is it Art Basel, is it the Miami 500 races? We advertise in our own backyard, too, because we know wealthy people from around the world come here.”

In Miami, luxury condo buyers want to be on the water, near upscale restaurants and luxury shopping, Ms. Cervera said. Edgewater, where Cervera Real Estate is marketing Elysee Miami and Biscayne Beach, is near the Design District, as is Aria on the Bay; Aston Martin Residences is downtown, close to Zuma and DB Moderne restaurants, she added.

Other properties the group represents are The Grove at Grand Bay and The Markers in Coconut Grove and The Bond and Smart Brickell in Brickell.

Demand for the buildings is driven by high occupancy overall (97%) and “rents going through the roof,” Ms. Cervera said. “It takes two or three years for a building to deliver, so it’s good that we have all of these units coming on the market. Otherwise, it would have stifled the city.”

It’s also fortunate that the buildings are proceeding at different schedules, to accommodate those who want to move in right away, as well as those who can wait, she added.

“It’s good to have some that are close to finishing; Aria on the Bay will be finished in January. We sold it out, and people want to move in. Biscayne Beach is finished. Life changes quickly, and it’s hard to know where you’ll be in four years.”

A major change in this building boom is that more people will occupy their units, even if on a part-time basis, she said. “Someone has to call it home, even if it’s one week or one month a year, so it’s not idle. In Miami, that hasn’t been an issue. In fact, we have buildings being occupied very quickly.”

“It’s the definition of luxury,” said Chad Carroll of Douglas Elliman, describing the $39 million penthouse on which the company has an exclusive listing in the Regalia in Sunny Isles Beach. With nearly 17,000 square feet, it is the second most expensive condominium unit for sale in Miami-Dade County.

The two-story penthouse at Regalia comprises 10,700 square feet (at $3,600 per square foot) with a 7,000-square-foot rooftop terrace and private pool reached by glass elevator, dual master bedrooms, a great room, movie theater, game and family rooms, private spa, wine cellar and guest room with its own living space.

Finishes include Nikzad wood and Blanco Sevilla stone flooring, Kreon designer lighting, custom speakers and millwork, Falma Italian closets, and programmable controls for lighting, shades, temperature and music. “No expense was spared,” Mr. Carroll said.

Designed by Arquitectonica’s Bernardo Fort-Brescia, the building itself offers only 39 units, he said, with unit prices starting from $8 million. They have 360-degree wrap-around terraces that offer unobstructed views of the Atlantic Ocean, Golden Beach, the Intracoastal Waterway and the skylines of Miami, Miami Beach and Fort Lauderdale.

Another listing in the Regalia is a six-bedroom, six-bath “beach house” comprising 10,515 square feet, with a private pool, sauna, steam room and spa. It is listed for $29 million, he said.

“We have had interest from hedge fund managers, European families, Brazilians. It’s a very diverse group,” Mr. Carroll said. “The ultra-wealthy just love the building because it makes them feel at home. We’ve been very active.”

Voice for Real Estate 77: Conference, Tax Reform, Mortgage Market

Wednesday, November 8, 2017

Real Estate 101: Your Buyer Checklist

Purchasing real estate may be overwhelming at first, considering all the things you need to study and learn to ensure that you make the right investment. But if you are equipped with the right tools and knowledge, it can save you from making seriously costly mistakes. For buyers looking to purchase a home, whether it’s your first, second or third, knowledge will be your best friend. And with some perseverance, buying your ideal property will be easier than you think.

To make it simple for you, we’ve created a buyer’s checklist to guide you on this endeavor.

First, think about what it is you’re looking for in real estate. Separate your wants from your needs. Crucial factors for good real estate include location, size, style, and occupants. If you are still single, you can look at lofts, condominiums, and studios. If you are planning to have a family, you can look at homes and townhouses of different sizes.

As real estate involves money, you will also need to consider is how much you can afford. When assessing your financial capacity to purchase real estate, it’s recommended that you analyze your debt (if any), monthly income, and credit status. You should also inquire about various down payment plans that will allow you to buy property but still be able to live a comfortable life.

Real estate is primarily about location. An ideal location for others may not be an ideal location for you. So when deciding on buying a home, check your lifestyle, personal preferences, and the prospective home’s distance from your work. Meanwhile, location’s security is also a must-think. The internet is a good place to research about local crime rates, safety, commuting options, and traffic in the neighborhood of your choice. Other factors you should consider in a location include the proximity of a hospital or clinic, school, and other local recreational amenities such as parks, movie theaters, restaurants, and shops.

The next step is to choose a type of mortgage and obtain pre-approval. Before you choose a mortgage broker, it’s crucial to do your homework and shop around before deciding. Brokers offer a range of interest rates, and it’s best to go with one that is well-suited to your needs as well as financial capabilities. It is highly recommended you deal with a mortgage broker when deciding on this aspect.
Work with highly recommended realtors, and if you are new to real estate, asking for referrals especially in the neighborhood of your choice will be helpful. Good realtors will take the stress out of buying real estate as they can help you find property that suits your individual preferences and will also help you with payment options.

Finally, avoid the mistake of purchasing right away. Here’s another often overlooked tip: narrow down your options to five, visit them all to get a feel for the whole property. Many buyers experience having “cold feet” when purchasing a home because they have not looked at enough options before deciding. So remember, even if you are decided on a property, you should still try to negotiate with your broker to increase your chances of getting a good deal.

These are some of the most basic points you should consider when buying real estate. Remember that going into the industry without this checklist in mind may be a pricey mistake. Why risk that when finding your dream home can be ease-free?

(http://www.globalrealtynews.com/real-estate-101-your-buyer-checklist/)