May 29, 2013
With the luxury end leading the charge, South Florida’s real estate market is continuing its upward march. Prices in the high-end market are rising, and home sales in the area are breaking previous records.
May 23, 2013
New Yorkers are continuing to purchase vacation homes in South Florida. However, today’s buyers are not just older retirees; younger New York residents are also flocking to the Sunshine State to escape cold, winter weather.
May 21, 2013
Strong demand and limited inventory is causing a buying frenzy in South Florida. The real estate boom is reminiscent of 2005 and 2006, except today’s buyers are using cash and heavy equity. Multiple offers are coming in for the current supply of homes and condos, and properties are fetching their asking prices or more.
May 17, 2013
Brazil has surpassed Canada as the top international source for both visitors and property buyers in Miami. In 2012, Brazilians became the most numerous overseas tourists and the most likely to acquire real estate in Miami. Last year, 690,000 Brazilians visited the city, up 8.8 percent from 2011. They spent an estimated 1.5 billion dollars.
May 15, 2013
When Saskia Sasken devised the term “global city” to refer to urban areas vital to the world’s overall economic, cultural and political development, she was referring to cities such as London and New York. However, over 20 years later, the Columbia University sociologist declared Miami to be a remarkable example of global city growth- a notion supported by the city’s booming real estate market.
April 26, 2013
The real estate market in Miami and surrounding areas has been hot lately, thanks in part to an increase of wealthy overseas buyers purchasing vacation homes with cash. With foreign wealth flocking to Miami, luxury sales prices have increased in the first quarter of 2013, on a year-over-year basis.
April 22, 2013
Home prices in South Florida continued to increase in March due to growing demand and declining housing inventory. In Miami-Dade County, the median price of a single-family home rose 25.1 percent to 225,000 dollars, compared to 179,850 dollars a year earlier. In Broward County, the median price of an existing single-family home jumped 26.3 percent to 242,500 dollars in March, from 192,000 dollars a year earlier. On average, single-family homes were on the market for just 30 days, compared to 46 days last year.
April 15, 2013
After a few years on the market, the price of Lilly Pulitzer’s Palm Beach home has been reduced. Sadly, the fashion designer and noted socialite passed away earlier this month. However, with the recent price reduction and death of the home’s famous owner, the ultimate Pulitzer fan now has a prime opportunity to literally own the designer’s closet.
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