You may not be aware, you may not have been paying close attention but there's some great news in the air. Great news is always a good thing, actually it's a great thing when you're talking real estate in Florida and here are 6 top great reasons on why the Miami Real estate market may go up and stay up.
1) Unemployment Rate Down, Jobs up
Let's start out with the Florida unemployment news. As of March 2012 the unemployment rate is at 9%, obviously it's not at an amazing 4%, but it has gone down 4 quarters in a row. Last April the Florida unemployment rate was at 10.6% and only 9,229,100 people were working in the state of Florida according to the U.S. Bureau of Labor Statistics. This April with the unemployment rate being at 9%, 9,290,000 people are reported to be working in the State of Florida, which is an increase of right around 60,000 jobs in the state of Florida.
This isn't great, but it's a good start especially for real estate. If people can't find a job chances are they're not going to look for real estate. Job growth will always have a great impact on the health of the real estate economy and this is a good start.
2) Florida Real estate brokers are showing real sales
The Miami Association of Realtors reported a 13% sales increase for single family homes and Miami condos for sale in Miami-Dade and Broward Counties for the month of March 2012 from February. With a surge that high that quick for an area it's a great sign that the real estate market is getting healthier and stronger.
3) Florida Foreclosures are down
California and Florida have been the leaders with the most foreclosures in the country and Miami unfortunately has more foreclosures than any other city in Florida. That being said you can consider Miami to have more foreclosures than any other city in the United States besides Las Vegas. Foreclosures are a sign of an unhealthy real estate market. Many factors can lead to a foreclosure but the good news is that foreclosures are on the down, in the state of Florida in October 2011, just a few months ago, there were 33,073 foreclosed homes on the market for sale. As of March 2012 there are now 26,758 foreclosed homes on the market. This is a great sign that the market is getting healthier.
4) Interest Rates are still low
For the month of April 2012 the interest rate for a 30 year fixed rate is around 3.88%, this has been helping real estate sells all across the country and is a great reason for a consumer to buy real estate now, and is a another reason on why the real estate market is getting healthier.
5) The Stock Market is showing great signs
There isn't much data out there to really prove that the stock market has a big impact on the real estate market, however it has a great impact on the economic optimistic health of the country, which has its effect on the buyer. For Florida it actually has an impact on the 401k's of the retirees and that has an impact on home sells.
The Nasdaq and the Dow Jones both reported their strongest quarter (March 2012) in 14 years. If it was just an average quarter it wouldn't be worth acknowledging, but a strong quarter shows that the economic health of the country is improving. Expect this to increase the optimism in the eyes of the buyers.
6) The Weather is getting better
Weather.com released their 2012 Hurricane predictions and it looks really great for Florida. They predict 4 minor small hurricanes and two possibly larger sized hurricanes for 2012. Hurricanes may increase jobs and some even speculate that it increases real estate sells. There are bad signs though that come from hurricanes and the biggest is home insurance prices tend to hike up in hurricane areas. The second bad sign is vacationers tend to go to other parts of the world instead of hurricane areas when August rolls around. This shows the weather actually does have its toll on the Florida real estate market but a smooth season may actually increase real estate sells.
Wednesday, May 2, 2012
Sunday, March 18, 2012
MILLECENTO New Building in Brickell
The Related Group announced this week their new building in the Brickell area, Millecento.
Millecento will be located at 1100 South Miami Avenue, Miami, FL. 33131, one block away from Mary Brickell Village and two blocks away from upcoming Brickell CitiCenter. Millecento will have 382 units by Carlos Ott and interiors by Pininfarina. The online BROCHURE contains all floorplans and renderings.
Studios from $199,000
1 Bedrooms from $281,900
1 Bedrooms + Den from $331,900
2 Bedrooms corner unit from $368,900
2 Bedrooms + Den from $383,900
The payment schedule is as follows:
10% to reserve
10% at contract
15% when construction starts
15% when construction ends
50% at closing
Please contact Miami Riches at 305-724-4920 or info@miamiriches.com for more information
Millecento will be located at 1100 South Miami Avenue, Miami, FL. 33131, one block away from Mary Brickell Village and two blocks away from upcoming Brickell CitiCenter. Millecento will have 382 units by Carlos Ott and interiors by Pininfarina. The online BROCHURE contains all floorplans and renderings.
1 Bedrooms from $281,900
1 Bedrooms + Den from $331,900
2 Bedrooms corner unit from $368,900
2 Bedrooms + Den from $383,900
The payment schedule is as follows:
10% to reserve
10% at contract
15% when construction starts
15% when construction ends
50% at closing
Please contact Miami Riches at 305-724-4920 or info@miamiriches.com for more information
Monday, November 28, 2011
Closings in Brickell - November 2011
Welcome to the Miami Riches blog!
We will be regularly posting information regarding real estate in South Florida.
In this first posting we will share with you details about closings in November 2011 in Brickell, one of the hottest areas in Miami.
We will be regularly posting information regarding real estate in South Florida.
In this first posting we will share with you details about closings in November 2011 in Brickell, one of the hottest areas in Miami.
| Complex Name | List Price | Sale Price | #Beds | #FB | #HB | Address | Sq Ft |
| BAYSHORE CO OP | 99,000 | 95,000 | 1 | 1 | 0 | 1430 BRICKELL BAY DR # 402 | 750 |
| ONE MIAMI WEST CONDO | 100,000 | 125,000 | 0 | 10 | 0 | 325 S BISCAYNE BL # 3120 | 507 |
| The Sail | 155,000 | 155,000 | 1 | 1 | 0 | 170 SE 14 ST # 2107 | 630 |
| BRICKELL BAY TOWER CONDO | 165,900 | 235,000 | 2 | 2 | 0 | 1408 SE BAYSHORE DR # 811 | 1574 |
| THE CLUBS AT BRICKELL | 166,500 | 168,000 | 1 | 1 | 0 | 1200 BRICKELL BAY DR # 3614 | 818 |
| BRICKELL ON THE RIVER | 178,200 | 180,000 | 1 | 1 | 0 | 31 SE 5 ST # 2803 | 775 |
| THE SAIL AT BRICKELL | 181,900 | 181,900 | 2 | 2 | 0 | 170 SE 14 ST # 1408 | 1090 |
| THE CLUB AT BRICKELL | 185,000 | 180,000 | 1 | 1 | 0 | 1200 BRICKELL BAY DR # 1720 | 825 |
| BRICKELL ON THE RIVER | 199,000 | 199,000 | 1 | 1 | 0 | 31 SE 5 ST # 3205 | 757 |
| ISOLA | 209,900 | 215,000 | 2 | 2 | 0 | 770 CLAUGHTON ISLAND DR # 703 | 968 |
| Met 1 | 214,900 | 205,000 | 1 | 1 | 1 | 300 S BISCAYNE BL # 1030 | 698 |
| 1060 Brickell Condo Assoc | 219,900 | 215,900 | 1 | 1 | 0 | 1050 BRICKELL AV # 1510 | 843 |
| The Sail Condominium | 224,500 | 220,000 | 2 | 2 | 0 | 170 SE 14 ST # 1904 | 942 |
| Brickell on the River | 245,000 | 230,000 | 1 | 1 | 1 | 41 SE 5 ST # 1806 | 913 |
| 1060 BRICKELL | 250,000 | 240,000 | 1 | 1 | 1 | 1050 BRICKELL AVE # 804 | 1024 |
| THE PLAZA ON BRICKELL | 272,052 | 272,052 | 1 | 1 | 0 | 950 BRICKELL BAY DR # 4603 | 739 |
| THE MARK ON BRICKELL | 285,000 | 275,000 | 2 | 2 | 0 | 1155 BRICKELL BAY DR # 601 | 1200 |
| THE PLAZA ON BRICKELL | 294,732 | 283,000 | 1 | 1 | 0 | 950 BRICKELL BAY DR # 4301 | 847 |
| Brickell Key II Condo | 315,000 | 299,000 | 2 | 2 | 0 | 540 BRICKELL KEY DR # 1408 | 1200 |
| PLAZA ON BRICKELL | 328,900 | 300,000 | 2 | 2 | 0 | 951 BRICKELL AV # 1105 | 1120 |
| THE MARK ON BRICKELL | 335,000 | 310,000 | 2 | 2 | 0 | 1155 BRICKELL BAY DR # 1009 | 1140 |
| St Louis Condo | 339,900 | 325,000 | 2 | 2 | 0 | 800 CLAUGHTON ISLAND DR # 3002 | 960 |
| THE MARK | 350,000 | 300,000 | 2 | 2 | 0 | 1155 BRICKELL BAY DR # 1809 | 1140 |
| 500 Brickell | 380,000 | 345,000 | 2 | 2 | 0 | 500 BRICKELL AV # 4110 | 1197 |
| the plaza on brickell | 414,995 | 375,000 | 2 | 2 | 0 | 950 BRICKELL BAY DR # 3505 | 1200 |
| PLAZA | 426,932 | 400,000 | 2 | 2 | 0 | 950 BRICKELL BAY DR # 3706 | 1054 |
| 1060 BRICKELL | 450,000 | 402,800 | 2 | 2 | 0 | 1060 BRICKELL AV # 203 | 1440 |
| 500 Brickell | 535,000 | 520,000 | 3 | 3 | 0 | 500 Brickell Ave # E 3501 | 1494 |
| ICON BRICKELL | 595,000 | 562,600 | 2 | 2 | 0 | 475 BRICKELL AV # 1815 | 1314 |
| TWO TEQUESTA POINT | 659,000 | 595,000 | 2 | 2 | 1 | 808 BRICKELL KEY DR # 3005 | 1540 |
| ICON BRICKELL | 740,000 | 740,000 | 2 | 2 | 0 | 465 BRICKELL AV # 4103 | 1313 |
| One Tequesta Point | 820,000 | 750,000 | 3 | 3 | 0 | 888 BRICKELL KEY DR # 1503 | 2050 |
| ICON BRICKELL 2 | 985,000 | 935,000 | 3 | 2 | 0 | 495 BRICKELL AV # 1501 | 1870 |
| Jade Residences | 995,000 | 950,000 | 2 | 2 | 1 | 1331 BRICKELL BAY DR # 1401 | 1878 |
| GROVE ISLE | 1,175,000 | 1,060,000 | 3 | 3 | 0 | 1 GROVE ISLE DR # A810 | 2424 |
| Carbonell Condominium | 1,390,000 | 1,300,000 | 3 | 3 | 0 | 901 BRICKELL KEY BL # 1404 | 2591 |
| JADE RESIDENCES | 1,400,000 | 1,265,000 | 3 | 3 | 0 | 1331 BRICKELL BAY DR # 2805 | 2130 |
| JADE RESIDENCES | 1,450,000 | 1,250,000 | 3 | 3 | 0 | 1331 BRICKELL BAY DR # 1905 | 2130 |
| ASIA CONDO | 1,645,000 | 1,400,000 | 2 | 2 | 1 | 900 BRICKELL KEY BL # 1003 | 2304 |
| THREE TEQUESTA POINT | 1,999,000 | 1,900,000 | 4 | 4 | 1 | 848 BRICKELL KEY DR # 4404 | 3257 |
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