Miami Real Estate

The Today Show aired a segment on January 31, 2012 on the Real Estate Market…there’s some good news, so take a look!

http://today.msnbc.msn.com/id/3041440/vp/46203461#46203461

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Cuba now  has a real estate market?  According to a November 14 article in FloridaRealtors.org - Property sales  became legal in Cuba as of November 10,2011… for the first time in decades.

A sign of economic reform and opportunity?    According to that article the window is open for real estate purchases in Cuba  (although apparently  limited to  those  already residing within it’s boundaries).  Read the rest of this entry »

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More and more research is coming out showing that it makes great financial sense to purchase a home today .

Whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms. 

There is a distinct difference between COST of a home today compared to pre-peak prices.  Link here to the entire article, as it appears in the KCM Blog.

The most recent S&P Case Shiller price index indicates that  residential real estate values have returned to 2003 1Q PRICEs.   Then factor in mortgage rates,  and the case for buying a home today becomes even more compelling.

Whether you’re looking to buy, sell, or lease - it’s important to rely on a knowledgeable, local,  real estate expert.  

The Restivo Team at EWM Realtors International looks forward to working with you and making your next move a really good move.  Our direct lines are  305 793-1365 for Vicki  or 305 632-0164  for Alexandra  and  you can reach us here or by email at restivo.v@ewm.com as well…  for real estate in South Florida …  as well as referal assistance internationally.  

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 This  Grove home at 3659 Bayview Road will be auctioned off – on site - at 11am  on Saturday, December 17, 2011 …   Whether you are looking to buy or sell, or are just interested in stopping by to see what’s going on, this may well prove to be a rather entertaining day in Coconut Grove!   Unlike in other parts of our country, there have been relatively few homes auctioned off, on site, in Coconut Grove.

Currently the home is  listed in the MLS for $869,000.00   According to all indications, the house  will go to the top bidder who comes in at/or above $790,000.00  -  There will be a 10% buyers premium  added …   and the MLS does stipulate that the top bidder needs to be prepared to sign a contract on the spot …  and that it be an as-is, cash only sale…  It does allow for 3% commission to any selling agent.  Read the rest of this entry »

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I just got off the phone  – I’ve had a number of similar inquiries recently, from homeowners asking if now a good time to list (and sell)  … or  whether they should wait until after the first of the year.

That question about  ’When to move’ is certainly a personal one.  Spending the holidays in the home you’re in now …  or starting NEW  holiday tradition elsewhere …   it’s not an easy decision. 

That said,  what I can say is that the majority of homeowners who ARE selling now tend to be serious sellers (given the current real estate environment).  And… most of properties listed for sale right now (whether they are condos or single family homes)  that are priced-well  do tend to sell  quickly.   It is a good time to be a buyer…. especially if you can recognize the good deals when they come around …  and are in a position to take advantage of the opportunities that present themselves.   

Now through Thanksgiving, and then again starting January 1st, are Read the rest of this entry »

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Venezuelan buyers are increasingly interested in Miami … and in particular in areas such as Miami Beach and  Brickell… near the water.  

66% of all Florida property acquisitions right now by Venezuelans are in the Miami, Miami Beach and Fort Lauderdale areas.

Almost 2/3 of Venezuelan investors buy condos, as opposed to single family homes …  

And they tend to buy  high-end property  (very building-specific … with a preference for modern highrise construction) …  Read the rest of this entry »

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International buyers continue to see South Florida as an optimal investment.   It has been for quite some time now … and it continues to be.  

The local recession and distressed property sales have  created opportunities for cash investors …  as well as for anyone ready to take advantage of the seductively low interest rates on mortgages /home loans ( which are  currently averaging 3.94% nationally). 

The favorable international exchange rate also  strongly favors foreign investors right now.  

According to the National Association of Realtors  ”There is a lot of value in U.S. housing IF one finds the lifestyle, location, culture, and property options attractive.”    …   Sunny skies and white sandy beaches and year-round outdoor weather is going to look awfully enticing in a few months – to most of the world!

There is a window of opportunity in Miami for international buyers looking for investment opportunities ….  and the Restivo Team at EWM Realtors International would be pleased to assist you in Miami -   305 793-1365   restivo.v@ewm.com

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About 40%  of property purchased by foreign buyers in Miami is acquired with the intention of it being a vacation home.  Because foreigners are limited as to how long they can stay and how often they can come to  the States,  many choose to buy property that can be rented out short (or long) term. 

Some 20-25% of foreign investment property is purchased strictly as income property …

NAR (National Association of Realtors)  reports that of the property purchased by international buyers for personal use:

12% plan to use the property for personal use more than 6 months per year

33% plan to use the property for personal use 3-6 months per year

23% plan to use the property for personal use 1-2 months per year

16% plan to use the property for personal use  less than 1 month per year

and the remainder are undecided.

Looking to invest in Miami?   Contact local real estate experts Vicki and Alexandra Restivo at EWM Realtors here or by phone, text or email … restivo.v@ewm.com    305 793-1365

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NAR (The National Association of Realtors)  reports that most  foreign investors tend to purchase resale property  (as opposed to new construction).  That coincides with the stats for real estate sales and purchases  all across the United States,  by both foreign buyers and Americans.

According to the 2010 figures from NAR …   foreign buyer specific:  11 percent of U.S. purchases by international investors were for new construction  … while 89 percent was for resales of existing homes….

The figures for 2011 show an increase in new construction sales, with 15% of all  sales being for new construction… up 4% from last year.

In 2011, foreign buyers also leaned heavily in favor of condo purchases, as opposed to single family homes.    Statistics continue to show approximately 50% of all international investors opt to buy condos (as opposed to single family homes)  … 12 % more in 2011 than in 2010.

Would you like our help,  buying or selling real estate in South Florida… or elsewhere?  We would love to work with you … whether directly or by referring you to a top real estate agent in some other area!   Please give us a call.  Alexandra and Vicki Restivo … We look forward to hearing from you!  305 793-1365

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As Miami Realtors who work with international home buyers,  we’ve noticed that  foreign investors  coming to South Florida definitely mirror what the rest of the country is seeing:   Buyers from Canada, the United Kingdom, Brazil, Venezuela,  Argentina, Mexico, Spain, France, Italy, Russia, Germany, Far East, Dubai and the Middle East…  are buying Miami… and there is the opportunity to do well, whether you are buying or selling.

Florida is unquestionably a top resort destination -   easily accessible from nearly anywhere in the world.  And with Florida now having a modernized and expanded international airport … MIA –  ”Miami International Airport” …   South Florida  is on the map and on the radar screen of foreign investors. Read the rest of this entry »

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