Tag Archives: Condos

Miami Condo Market: Surviving Despite Market Decline

Considered as one of the top tourist attractions in the known world, Miami is flocked to the brim with tourists every year. From the sandy beaches to exotic nightlife, Miami is indeed a perfect place to relax and enjoy a time-off from the busy routine of work.

Many real estate firms converted a vast number of residential areas, like apartments, to high-rise condos to accommodate visitors flocking into the city. They believe that this is a lucrative business, and will never run out – but they were wrong.

Miami Real Estate Market On Steep Decline

Since 2006, Miami, as well as the rest of the states, experienced a decline in the real estate market. The number of foreclosures increases every year, which adds to the number of unsold real estate units.

There are many factors that contribute to the decline of real estate market in Florida. The interest rates of many financial lenders increased over the years, making it almost impossible for local residents to get a loan to finance residential real estate acquisitions. Also, the devaluation of the U.S. currency made real estate market an almost impossible lucrative venture.

Too Many Condos

One of the blunders which contributed to the Miami real estate decline is the number of condo units. The construction of many high-rise condos can be seen all over the city, and when finished, adds to the increasing number of unsold homes.

This kind of investment is taking a hard toll on many real estate companies as they try different methods to attract clients to acquire these units; being hard-pressed as to lower their prices to increase the chance of making the deal sweeter to the locals and foreigners alike, is starting to take its tolls on their finances.

Miami Condo Price Decreases

Since the U.S. Dollar value declined, many foreigners are now eyeing the prices of Miami condos with interests. Canadians and Europeans are now flocking into the city to buy these condos units at lower the cost.
The locals are starting to notice the decrease of prices in many real estate properties around the city. Though the affordability is still slim considering the high interest rates of different mortgage types, the glimmer of hope in condo acquisition is on the rise for these individuals.

Also, the increase in demand of additional workforce for the city contributes to the rising need of residential units. Currently, the median prices for condo in Miami are, more or less, $200,000. Condominiums are now being considered as cheaper compared to single-family residential properties; thus, the popularity for Miami condo increases every year.

The real challenge, however, to survive the real estate market despite the economic crisis is how each of these agencies will create an affordable market for real estate properties to the rising demand of the public.

Vanessa Arellano Doctor

Real Estate PR

Tips On Choosing A Miami Condo

With its pristine beaches and warm climate, a lot of people of want to visit the city of miami. But there are people who are not contented with just visiting — they want to stay and live in the city.

A house with a beachfront would be the most excellent choice when choosing a place to stay. Unfortunately these places are either owned already or are being sold for a large amount of money. If you have the money and you think it is worth buying, then go ahead. But for those who want to stay and live in miami, you could also go for an alternative — Miami condos.

For the last few years, the number of miami condos is constantly on the rise. This just shows that the city indeed is thriving and how people flock to the place. If you are looking for a condo, you actually do not have to worry since there are a lot of options to choose from. The only thing you need to worry now is how to choose a miami condo.

Physical Attraction

It is just like having a crush on a person — it all starts with physical attraction. It is the same thing when choosing a miami condo. Look at the building, do you like it? Observe the environment around the building, is it safe? Does the condo have a view that pleases your eyes? What about the name of the condo, do you like it?

After looking at the external aspects of the building, it is time to look inside the building. Do you like the feel of the lobby? This is quite important since you will be passing through this place each and everyday. When you go to your unit, is it big enough for you? What about the bathroom? When you look out the window do you like what you see?

These are some of the physical aspects of a condo building that you may or may not check out. It all depends to you.

Services

Aside from the physical aspect, you should also need to check the services they provide their tenants. This could be cleaning services, laundry services, maintenance services, repair services, etc. If you like the services that they provide, then it is a plus point for them.

Rules And Regulations

If you are physically attracted to the place and you like their services, it does not mean you should take it right away. You also need to look the rules and policies of the building. There might be some rules that you may not agree on like having pets around. Check everything first before making your move.

The Price Is Right

The last factor that could either seal the deal or break the deal would be the price. You like the physical aspect, you like the services, you can abide by their rules and regulation, but can you afford the place? Will this place fit your budget? If doesn’t, you need to look for another place again. But if you can afford it, welcome to miami.

Vanessa Arellano Doctor
http://epicmiami.com

Buying In Miami: Some Advice

Individual home units are slowly dwindling, owing to the fragile condition of the economy. These homes often are priced in thousands or hundreds of thousands of precious dollars. The present trend is to find a place that, though not detached, will provide the much-coveted privacy, yet will offer accessibility to the amenities of urban living.

Such is the perception of living in a condominium (or condo as it is popularly referred to). The condo consists of several homes that stand on one land. The condos offer affordability. True, it is not a separate and detached property with its restrictions; and yet these restrictions maintain and enhance the value of one’s properties with its elaborate security set-up to protect its residents.

In today’s endless hustle and bustle, one wonders where in this world you can build a place called HOME, for peace and quiet to savor the fruits of your labor and yet keep abreast with the hectic pace of progress; a place where an extra hour of relaxation invigorates the mentally and physically battered mind and body; a place where diverse businesses flourish and entrepreneurship never falters such that even retirees have endless opportunities of being productive instead of wasting away their life waiting for pensions. There is indeed such a place, thank God!

Miami Beach

Miami Beach was incorporated on March 26, 1915 and is a distinct municipality of Miami Dade County in Florida. It has a population of less than 100,000. Being an island it boasts of white sands and vistas of the palm trees, sun, and majestic waters are truly picturesque. Business opportunities abound. Its being sound can be gleaned from the vibrant nightlife it offers. Indeed, Miami Beach is an island that mingles with urban life.

Some Advice

Here are some advice to whoever wants to buy a luxury condo in Miami Beach:

FIRST: KNOW WHAT YOU WANT. There are specifications for every unit that will satisfy what you require.

SECOND: Inquire the present selling rates so that you can adequately prepare your finances. What you want may not be within the reach of your pockets.

THIRD: Buying condos can be compared to air fares. There are “Peak Seasons” and “Off-Peak Seasons” in the condo market. Be aware of these times, so you know when to initiate negotiations. real estate agents know this. Inquire from reputable firms that deal with real estate.

FOURTH: Be patient when negotiating. Rushing towards what you believe are rock-bottom prices may in fact be an over price. Being patient increases your negotiating power such that you may bring down the price lower than what you have originally prepared.

FIFTH: Be dressed smartly and appropriately for the negotiations. Sellers can gauge your bargaining power from the way you are dressed. But don’t overdo it, or they’ll end up assuming you can afford more than you actually can and slap you a high rate.

FINALLY: Keep in mind that as demand for luxury condo units increases, prices will also go up leading to its APPRECIATION and attaining what is called a HOME.

Vanessa Arellano Doctor
http://luxurylivingrealty.net

Comfortable Condos in Miami Real Estate

Miami is one of the best places in the US. It is one of the cruise ship destinations in the world.

Thousands and thousands of people are visiting Miami to board cruises ships. There are plenty of people who love to stay in Miami for few days to explore the beauty that this place can offer. There are lots of condos in Miami real estate, definitely, in high demands for people as vacation rentals and homes as well. Yes, more and more people are relocating at Miami real estate.

Miami is really one of the best places that people love to visit, in order to enjoy and explore the city. Miami has tropical climate with humid summer months and warm winters. You can absolutely enjoy the weather here. Travelers love the weather in Miami. Actually, the sunny weather is what people want that is why they flock to Miami to enjoy.

Not only the weather that can make you enjoy in Miami, the pristine beaches and hot nightlife are what most people take advantage as they visit the city. Yes, plenty of people take advantage of all of these. They will definitely explore every place that Miami has to offer.

Miami is not only four tourists. Yes, there are lots of tourists that come to the city every year but the city is for business as well. Hard it right, the business and multinational corporations are booming in Miami. It is the one of the busiest ports in the nation. The city is great to visit and it is also great to live in.
Miami real estate has lots of condos. Actually, the city is known with its luxurious condos. Miami real estate also offers homes, mansions, commercial properties and so on. In Miami real estate, there are lots of residents, investors and people are looking for condos to relocate.

There are plenty of reasons why people are falling in love with the condos in Miami real estate. They prefer to purchase condos since they feel more secure when living in a condo. In condos, there are security guards that roam around, so even if you are out for travel or vacation, your place and stuff are safe.

When you are in a condo, you do not have to worry about mowing the lawn, planting trees and so on, since the maintenance is the one responsible with all of that.

Buying condo is a great investment, if in case, you are not staying at your condo, you can have it rent to gain income.

If are planning to purchase a condo in Miami real estate, you have to work with real estate agent to help you in finding the condo you want. The agent will assure you to find the condo that you want and the amenities that you need.

But take note, you need to seek for a real estate agent that can truly aid you in your quest. Find an agent that is very familiar with Miami real estate and has the expertise and experiences.

Eliza Maledevic Ayson
http://www.luxurylivingrealty.net