#MiamiCondos

Jun 28, 2018
2 min

Miami condo market favored buyers in May 2018

The latest market data release from the Miami Association of Realtors focused on the continued strength of the area’s luxury housing market in May, but insights into other segments were also included in the report. Specifically, the Miami Association of Realtors found that based on inventory figures, May signaled a buyer’s market for condos in the city. This may have helped condo sales increase for the second consecutive month in May to a final tally of 1,392. This follows a

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Jun 4, 2018
4 min

Homes Sold Faster Than Ever in April; Prices Rose 7.6%

The national median home sale price surpassed $300,000 for the first time on record The national median home sale price increased 7.6 percent in April from a year ago, to a median of $302,200. This is the first time the national median home price has surpassed the $300,000 mark across the 174 markets that Redfin tracks. While April posted solid growth in home sales, up 5.2 percent from last year, home sales from January through April were just 1.5 percent higher than the same

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May 29, 2018
4 min

What is the Condo Approval Process if You Want to Rent in Miami?

Once you have selected a unit that suits your preferences, the following must occur: PRIVATELY OWNED CONDOMINIUM An Application to Lease is prepared for you to review and sign. This document defines how much you are willing to pay over a specified period of time (stating specific beginning and end dates). It is then presented to the owner’s agent. First Month’s Rent: Upon submission, the first month’s rent in the form of personal check, cashier’s check or money order is place

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May 27, 2018
2 min

LinkedIn Workforce Report | Miami-Ft. Lauderdale | May 2018

Over 146 million workers in the U.S. have LinkedIn profiles; over 20,000 companies in the U.S. use LinkedIn to recruit; over 3 million jobs are posted on LinkedIn in the U.S. every month; and members can add over 50,000 skills to their profiles to showcase their professional brands. That gives us unique and valuable insight into U.S. workforce trends. This LinkedIn Workforce Report is a monthly report on employment trends in the U.S. workforce. It’s divided into two sections:

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May 21, 2018
10 min

How small can you go? These new Miami apartments want you to downsize and live large

Would you plunk down $300,000 for a studio that measures 350 square feet — about the size of two surface parking lot spaces — to live in the heart of Miami Beach? If the idea seems preposterous, micro-units are not for you. But a growing number of real estate developers are banking on the micro-unit concept — tiny, furnished apartments in amenity-laden buildings, located in hot neighborhoods — to attract buyers and renters who want to live in Miami-Dade's most popular neighbo

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May 21, 2018
4 min

You can still find reasonably priced homes in these Miami neighborhoods. But you have to hurry

If you're braving Miami-Dade County's competitive housing market in search of a moderately-priced home or condo, it's no longer enough to be armed with a pre-approved mortgage loan or be flexible about location. Today, there's one more essential thing to have: A fast trigger finger. "So many people are looking for properties in the $180,000-$225,000 price point, buyers can no longer afford to say, 'Let me think about it and get back to you,'" said Justine Jimenez Garcia, owne

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May 16, 2018
5 min

Luxury Home Sales in Miami Spike in Early 2018

According the Miami Association of Realtors, Miami luxury home sales surged 12.3 percent in 1Q 2018 as median prices rose for the 25th consecutive quarter. Total Miami luxury home sales ($1 million and up) rose 12.3 percent to 421 in 1Q 2018, up from 375 in 1Q 2017. Median prices for single-family homes increased to $337,000, a 5.9 percent increase from last year. Miami existing condo median prices rose 4.5 percent year over year to $230,000. "Miami real estate continues to s

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May 16, 2018
2 min

‘Good’ credit score lowers avg. mortgage cost by $21K

In Miami it is lowered by an average mortgage cost by $27K. Homebuyers with a lower credit score pay thousands of dollars more for the same home than a buyer with an excellent credit score. A new Zillow analysis found that nationally, a borrower with an "excellent" credit score could get a mortgage with a 4.50 percent Annual Percentage Rate (APR). A similar borrower with a "fair" credit score could get a 5.10 percent rate. Over the lifetime of a 30-year mortgage, this means a

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May 15, 2018
2 min

20 Questions to Ask When Buying a Condo

Considering a condominium? Take the time to research the community, talk to residents, review the condominium documents and study other data to answer these questions: 1. CONDITION What's the condition of the unit you're considering -- the building -- the entire complex? 2. COMMON AREAS Are common areas well maintained? 3. FOR SALE? How many condos are for sale? (A large percentage could be a sign of problems.) 4. OWNER OCCUPIED? What percentage of the units are owner-occupie

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May 8, 2018
2 min

Buyers' mortgage preapprovals mean a lot less than you think

It's common advice: Buyers should obtain a mortgage preapproval letter from a lender before going out with a real estate agent to look at homes. The rationale is that a preapproval shows, in writing, an amount of mortgage money a buyer is qualified to receive, all but guaranteeing the price range the buyer can afford. For real estate agents, that preapproval letter is an assurance that they're not wasting time on clients who may not be able to afford the homes they're conside

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May 2, 2018
1 min

Here’s how much you need to earn to afford Coral Gables

Trulia has crunched the numbers to determine the best neighborhoods for living well by ranking “universally loved” features like quiet streets, parks and proximity to schools and healthcare. Now, the online real estate giant had determined how much a homebuyer needs to live in those neighborhoods. Coral Gables (which Trulia incorrectly lists as a neighborhood within Miami) made the list, but buyers will need to have a well-paying job to afford to live there. Described as a “m

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Apr 23, 2018
2 min

So you are all settled in your new home. Now it's time to explore Miami!

Here is a list of things to do in the Magic City: First, take a look at this Miami Relocation Guide and Interactive Map of Miami and Beaches. I have separated the suggestion below by geographic areas. Be sure to use the interactive map to familiarize yourself with each location, and to take distances into account when planning your visits. Miami Beach: Art Deco District / South of Fifth (SoFi) Nikki Beach South Pointe Park Ocean Drive Española Way Lincoln Road Mall New World

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