Find Real Estate Agents and Homes for Sale


Real Estate News --> Florida News

Miami's real estate market is so strong that homes are selling for near-asking price


Those numbers show that South Florida attracts many foreign buyers. Most of the condo sales are in cash because banks do not approve financing for those kinds of buildings. Also affecting the Miami real estate market is the fact that many residents of ...


Archived Story

wpsRequire([ 'legacy-video' ], function ( video ) { return video.play([{"id":"158003559","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/business/real-estate-news/article158003559.html","duration":122,"poster":"//www.miamiherald.com/news/ew44up-realestate.jpeg/alternates/LANDSCAPE_768/realestate.jpeg","title":"Sports cars and helicopters help launch Aston Martin luxury condo tower ","displayDescription":"The developers of a new ultra-luxury 66-story condo tower in Miami are unveiling their new sales center and luring international media with a day of crazy over-the-top activities.? Photo by Carl Just; Video by José AIglesias","videographer":"Jose Iglesias","credit":"jiglesias@elnuevoherald.com","published":1498272276,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/6/24/2/1437582013143-p5k4ma/Aston_Martin_Residences-1498272273080.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/6/24/2/1437580321678-6bjrso/Aston_Martin_Residences-1498272273686.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/6/24/2/art_158003559/Aston_Martin_Residences.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dreal_estate_news%26id%3D158003559%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FBusiness%2FRealEstate&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}}], [{"id":"203590204","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/business/real-estate-news/article203590204.html","duration":37,"poster":"//www.miamiherald.com/news/business/real-estate-news/8zyaxi-Building-Photo-4.jpg/alternates/LANDSCAPE_768/Building%20Photo%204.jpg","title":"Developers bought out this old condo in BrickellNow they plan to tear it down","displayDescription":"Developers plan to build a 47-story luxury tower called Una on the site of an old building in South BrickellThey paid $48 million to buy all 61 units in the building and have begun luring buyers with a sales gallery.","videographer":"José AIglesias","credit":"Miami Herald Staff","published":1520285862,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/5/21/1437582013143-p5k4ma/Building_in_Brickell-1520285861196.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/5/21/1437580321678-6bjrso/Building_in_Brickell-1520285861494.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/5/21/art_203590204/Building_in_Brickell.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dreal_estate_news%26id%3D203590204%26eid%3D203880569%26vidlength%3Dshort%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FBusiness%2FRealEstate&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=short&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"158003559","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/business/real-estate-news/article158003559.html","duration":122,"poster":"//www.miamiherald.com/news/ew44up-realestate.jpeg/alternates/LANDSCAPE_768/realestate.jpeg","title":"Sports cars and helicopters help launch Aston Martin luxury condo tower ","displayDescription":"The developers of a new ultra-luxury 66-story condo tower in Miami are unveiling their new sales center and luring international media with a day of crazy over-the-top activities.? Photo by Carl Just; Video by José AIglesias","videographer":"Jose Iglesias","credit":"jiglesias@elnuevoherald.com","published":1498272276,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/6/24/2/1437582013143-p5k4ma/Aston_Martin_Residences-1498272273080.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/6/24/2/1437580321678-6bjrso/Aston_Martin_Residences-1498272273686.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/6/24/2/art_158003559/Aston_Martin_Residences.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dreal_estate_news%26id%3D158003559%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FBusiness%2FRealEstate&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"146488159","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/business/real-estate-news/article146488159.html","duration":30,"poster":"//www.miamiherald.com/news/business/real-estate-news/e4jr14-Miami-Worldcenters-Jam-Room/alternates/LANDSCAPE_768/Miami%20Worldcenter%27s%20%27Jam%20Room%27","title":"Miami Worldcenter's 'Jam Room'","displayDescription":"A trio of 30-second ads showcases the tower’s 40-plus amenities, which include a boxing ring, soccer field, indoor basketball court and a karaoke-friendly rec space known as the “Jam Room.”","videographer":"","credit":"Paramountmiami.com","published":1493071593,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/4/24/22/1437582013143-p5k4ma/Jam%20Room%204-2-1493071591598.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/4/24/22/1437580321678-6bjrso/Jam%20Room%204-2-1493071592192.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2017/4/24/22/art_146488159/Jam_Room_4_2.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dreal_estate_news%26id%3D146488159%26eid%3D203880569%26vidlength%3Dshort%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FBusiness%2FRealEstate&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=short&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"109603672","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/business/real-estate-news/article109603672.html","duration":138,"poster":"//www.miamiherald.com/latest-news/cal303-brightline.jpg/alternates/LANDSCAPE_768/brightline.jpg","title":"MiamiCentral train station begins to take shape","displayDescription":"All Board Florida's bid to get high-speed trains from Miami to Orlando begins to take shape in downtown Miami.","videographer":"Jose AIglesias","credit":"Miami Herald","published":1477057348,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/10/21/13/1437582013143-p5k4ma/Brightline-1477057343077.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/10/21/13/1437580321678-6bjrso/Brightline-1477057343918.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/10/21/13/art_109603672/Brightline.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dreal_estate_news%26id%3D109603672%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FBusiness%2FRealEstate&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"69725572","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/business/real-estate-news/article69725572.html","duration":143,"poster":"//www.miamiherald.com/news/business/real-estate-news/djs21o-ShellGames.jpg/alternates/LANDSCAPE_768/ShellGames.jpg","title":"Offshore corporations: The secret shell game","displayDescription":"Offshore corporations have one main purpose - to create anonymity Recently leaked documents reveal that some of these shell companies, cloaked in secrecy, provide cover for dictators, politicians and tax evaders","videographer":"Sohail Al-Jamea and Ali Rizvi","credit":"McClatchy","published":1459706156,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/4/3/17/1437582013143-p5k4ma/Tax%20Havens%20FINAL-1459706152082.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/4/3/17/1437580321678-6bjrso/Tax%20Havens%20FINAL-1459706152827.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/4/3/17/art_69725572/Tax_Havens_FINAL.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dreal_estate_news%26id%3D69725572%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FBusiness%2FRealEstate&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"54992690","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/business/real-estate-news/article54992690.html","duration":43,"poster":"//www.miamiherald.com/news/business/real-estate-news/tqw21y-Video-Colombian-drug-lord-Pablo-Escobars-old-house-in-Miami-Beach-to-be-demolished/alternates/LANDSCAPE_768/Video:%20Colombian%20drug%20lord%20Pablo%20Escobar%27s%20old%20house%20in%20Miami%20Beach%20to%20be%20demolished","title":"Video: Colombian drug lord Pablo Escobar's old house in Miami Beach to be demolished","displayDescription":"The current mansion, with four bedrooms, six bathrooms, a pool and garage, was built in 1948 and formerly owned by Colombian drug lord Pablo EscobarIt is scheduled to be torn down on Tuesday","videographer":"C.MGuerrero","credit":"El Nuevo Herald staff","published":1452906641,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/1/16/1/1437582013143-p5k4ma/Colombian%20druglord%20Pablo%20Escobar%27s%20old%20house%20in%20Miami%20Beach%20to%20be%20demolished%28watermarked%29-1452906639267.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2016/1/16/1/1437580321678-6bjrso/Colombian%20druglord%20Pablo%20Escobar%27s%20old%20house%20in%20Miami%20Beach%20to%20be%20demolished%28watermarked%29-1452906639742.mp4","type":"video/mp4"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dreal_estate_news%26id%3D54992690%26eid%3D203880569%26vidlength%3Dshort%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FBusiness%2FRealEstate&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=short&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"204223619","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/local/crime/article204223619.html","duration":1090,"poster":"//www.miamiherald.com/news/local/uk5mej-Shootingtwomhddav.JPG/alternates/LANDSCAPE_768/Shooting+two+mhd+dav.JPG","title":"Full version of active shooter dispatch audio from Parkland school shooting","displayDescription":"The second-by-second timeline and audio recording of police radio chatter sheds new light on the chaotic and much scrutinized law-enforcement response to the bloodshed at Marjory Stoneman Douglas High on Feb14, the state’s worst school shooting.","videographer":"","credit":"Coral Springs Police Department","published":1520558217,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/9/0/1437582013143-p5k4ma/ActiveShooterDispatchAudio-1520558215164.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/9/0/1437580321678-6bjrso/ActiveShooterDispatchAudio-1520558216001.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/9/0/art_204223619/ActiveShooterDispatchAudio.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dcrime%26id%3D204223619%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FNews%2FLocal&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"204217884","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/local/crime/article204217884.html","duration":3020,"poster":"//www.miamiherald.com/news/local/crime/vlo615-fl-school-shooting-07-FL0063634056.JPG/alternates/LANDSCAPE_768/fl-school-shooting-07-FL0063634056.JPG","title":"Full recording of 911 calls made during Parkland school shooting","displayDescription":"Unedited version of 911 calls made to the Emergency System during the shooting at Marjory Stoneman Douglass high school on February 14The calls were released by Coral Spring Police Department on Thursday, March 8, 2018.","videographer":"","credit":"Coral Springs Police","published":1520553701,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/1437582013143-p5k4ma/full_911_calls-1520553698664.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/1437580321678-6bjrso/full_911_calls-1520553699642.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/art_204217884/full_911_calls.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dcrime%26id%3D204217884%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FNews%2FLocal&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"204213704","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/local/article204213704.html","duration":63,"poster":"//www.miamiherald.com/news/local/9pwcx7-TEACHERNEVERAGAIN0027JAI.JPG/alternates/LANDSCAPE_768/TEACHER+NEVER+AGAIN0027+JAI.JPG","title":"Parkland teacher on how he prepared students for gun control fight","displayDescription":"Jeffrey Foster, an advanced placement government teacher at Marjory Stoneman Douglas High School, has been credited by some students -- like Emma Gonzalez -- with preparing them for new roles as gun control activistsBut Foster isn't the liberal stereotypeHe's been a Republican his whole adult life, respects the Second Amendment and sees \"merit\" in the idea of arming faculty members to deter future school shootings.?","videographer":"José AIglesias","credit":"Miami Herald","published":1520552586,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/1437582013143-p5k4ma/Jeff_Foster_Teacher_NEVER_AGAIN-1520552584720.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/1437580321678-6bjrso/Jeff_Foster_Teacher_NEVER_AGAIN-1520552584945.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/art_204213704/Jeff_Foster_Teacher_NEVER_AGAIN.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dlocal%26id%3D204213704%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FNews%2FLocal&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}},{"id":"204207314","publication":"miamiherald","brightcoveId":"","asset_type":"videoIngest","url":"http://www.miamiherald.com/news/local/article204207314.html","duration":298,"poster":"//www.miamiherald.com/news/local/phduh4-911-audio-2.mp4/alternates/LANDSCAPE_768/911%20audio%202.mp4","title":"Hear Scot Peterson's frantic dispatches outside Douglas High School","displayDescription":"The Broward Sheriff's Office released radio dispatches between officers arriving and the scene of the Marjory Stoneman Douglas school shootingIt is believed that one of the voices on the recording is of BSO deputy Scot Peterson, who was heavily criticized for not entering the school during the shooting","videographer":"","credit":"Broward Sheriff's Office","published":1520551206,"sources":[{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/1437582013143-p5k4ma/911_audio_2-1520551200427.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/1437580321678-6bjrso/911_audio_2-1520551201638.mp4","type":"video/mp4"},{"src":"//dr6lcqo3bxtwa.cloudfront.net/binary/2018/3/8/23/art_204207314/911_audio_2.m3u8","type":"application/x-mpegURL"}],"ads":"//pubads.g.doubleclick.net/gampad/ads?ciu_szs=300x250&correlator=%5Btimestamp%5D&cust_params=sect%3Dlocal%26id%3D204207314%26eid%3D203880569%26vidlength%3Dlong%26pl%3D&env=vp&gdfp_req=1&hl=en&impl=s&iu=%2F7675%2FMIA.site_miamiherald%2FNews%2FLocal&output=vast&sz=400x300&unviewed_position_start=1&url=%5Breferrer_url%5D&vidlength=long&vpos=preroll","langCode":"en","brightcoveData":{"enabled":false,"account":"5618154292001","policyKey":"BCpkADawqM048yYnLJpeYsUKKU1nVPRqMbfA7w0B9-sDVQfPDd_-hSQRaYuYXt0ZLPyx9IixqmO8-VobPlxXLq8Tj7WsWwWPLPuVck7bDrhCly78ENHmcWGzPNk-eeG1Vc-WtBVjZ8zSQBTi"}}], {"wpsInclude":false,"wpsArea":null,"autoPlay":false,"pubName":"miamiherald","embed":false,"cacheBust":"67445ed","iterator":5,"uniqueId":"158003559-1520571631736","paywallEnabled":true,"domainName":"www.miamiherald.com","pubId":"7","isSecureRequest":false,"primaryVideoIsBrightcove":false,"baseTemplate":"story","videoType":"lead-asset"} ); }); The developers of a new ultra-luxury 66-story condo tower in Miami are unveiling their new sales center and luring international media with a day of crazy over-the-top activities.? Photo by Carl Just; Video by José AIglesias Jose Iglesias jiglesias@elnuevoherald.com The developers of a new ultra-luxury 66-story condo tower in Miami are unveiling their new sales center and luring international media with a day of crazy over-the-top activities.? Photo by Carl Just; Video by José AIglesias Jose Iglesias jiglesias@elnuevoherald.com jQuery(document).ready(function () { mi.leadAssets.init(); }); Real Estate News Miami's real estate market is so strong that homes are selling for near-asking price By Sarah Moreno smoreno@elnuevoherald.com LinkedIn Google+ Pinterest Reddit Print Order Reprint of this Story $(document).ready(function () { mi.articleShareTools.init({ nextLinkedin: '8564', nextPinterest: '8630' }); mi.socialSharingScroll.init(); }); March 07, 2018 10:17 AM The local real estate market is in good shape, according to a report by the Miami Association of RealtorsJanuary saw an increase in the sale of condominiums, single family homes and luxury properties valued at $1 million or more. Sales of residential properties in Miami-Dade rose by 5.1 percent, from 1,731 to 1,820, from January 2017 to January 2018That represented $791.3 million in sales in the first month of 2018, $89 million more than in January 2017The number does not include multimillion-dollar properties. The Miami Association of Realtors obtains its data from the Multiple Listing Service (MLS), a computerized system that lists properties for sale. Miami properties sold for pretty close to asking priceAnother good sign: Homes are selling quickly. jQuery(document).ready(function () { mi.renderNewsletterIframe.init({ container: '#newsletter-signUpWidget', url: 'http://x.email.miamiherald.com/ats/url.aspx?cr=663&wu=218' }); }); Never miss a local story. Sign up today for a free 30 day free trial of unlimited digital access. SUBSCRIBE NOW jQuery(document).ready(function () { mi.calltoActionCtrl.init(); }); On average, a single-family home goes under contract 47 days after it is listed for sale, compared to 61 days last yearClosing the deals took an average of 98 days, a sharp drop from January 2017, when it took an average of 113 days. Selling an apartment takes a little bit more time, 123 daysBut the average wait for a contract is 75 days, 10 days less than what it took last year. The shortage of properties on sale partially determines the prices and speed of the salesIn January 2017, 6,590 single family homes were for sale, compared to 6,255 this January. The inventory has been dropping for more than five months, confirming that the market is favorable to those who want to sell their properties. But there's a 14-month inventory of apartments, indicating that the market is favorable to buyersA balanced market is supposed to have an inventory of six to nine months. The biggest obstacle for the sale of condominiums is the difficulty in obtaining financingOut of the 9,307 condo buildings or complexes in Miami-Dade and Broward, only 12 are approved to receive financing from the Federal Housing AdministrationThat's a type of loan for first-time home buyers, which allows them to put down 5 percent or less as down payment. This sounds like good news, but for those who don't already own a home it's notThe average price of a single family home rose by $20,000 and reached $330,000, compared to $240,500 for the national averagePrices have risen for 74 months straight. Condominiums did not fall behind and now sell for an average of $230,000. The sale of homes fell at the national and state levels, but in Florida, the sale of condos rose 5.9 percent compared to January 2017. Only 9.9 percent of the sales in January involved properties in trouble, including bank-owned and short sale propertiesThose kinds of properties accounted for 12.7 percent of the sales last year — and 70 percent in 2009. Nationally, those kinds of sales are lower than in Miami at just 5 percent, 2 percent less than last year. Cash is king in Miami-Dade's real estate market, with 42.2 percent of all sales involving no mortgagesThat's almost double the national figure of 22 percent. On the good side, that's a drop from last year, when 43.4 percent of sales were in cash. Those numbers show that South Florida attracts many foreign buyersMost of the condo sales are in cash because banks do not approve financing for those kinds of buildings. Also affecting the Miami real estate market is the fact that many residents of northern states are moving to Florida to cut down on their costs of living. Federal tax reform, which was signed into law on Dec22, sets a deductions cap for income, sales and property taxes at $10,000The new cap is leading more residents of states with high property values and state income tax to purchase properties in states such as Florida, which has no state income tax.

Trending Florida News:


  • Trump Sold a $40 Million Estate to a Russian Oligarch for $100 Million—and a Democratic Senator Wants to Know Why
  • My 3 European REIT Picks
  • Rising Seas and Real Estate Prices in Fort Lauderdale
  • Meet the Florida Real Estate Commission
  • Florida bald eagles enjoy arrival of one eaglet, await second
  • Benchmark Real Estate Group Now of Service to the Windermere Community
  • South Florida home sales frightfully low in October
  • Coastal Real Estate Suffers Slowdown, Climate Change Blamed
  • CBRE (CBG) Buys South Florida's Brenner Real Estate Group
  • Miami Realtors Partners with Realopedia to Promote South Florida in...
  • Florida homeowners playing climate change ‘chicken?’
  • Sunny Isles Oceanfront Condos: Prime Real Estate Options Within A Paradise Setting In Florida
  • Who/What's new
  • TJM Properties Purchases Crowne Plaza Syracuse
  • Florida man mysteriously vanishes into the ocean on paddleboard: Police
  • Florida Retirement System’s 13.8% return tops benchmark
  • The Note: What Trump Told Obama
  • How Walt Disney World Found Its Home in Florida
  • Why Miami's Real Estate Scene Is Still Booming
  • Housing bust damage to last through 2019