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Archive for June, 2014

Boutique Hotel Projects Draw Investors to Miami Beach

June 23rd, 2014 Written By Carol Pawley

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It’s a known fact that Miami has become the place to “see and be seen” in popular culture. This attitude is becoming pervasive in the hospitality industry, especially when it comes to boutique hotels.  Hotel operators and investors realize that, in order to be competitive and to bring clout to a brand, they must have a hotel in Miami Beach.  As a result, the appetite for boutique hotels in South Florida is voracious. Investors, including institutional investors, see Miami Beach as fertile ground for boutique hotel projects; Miami is among the top five hospitality markets in the nation.

Max Azria’s Fisher Island Condo for Sale

June 19th, 2014 Written By Carol Pawley

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Max Azria, the famous designer behind the “BCBG” brand, is selling his Fisher Island condo for $7 million dollars. The sixth floor unit has five bedrooms and five and a half baths, white marble, a big living room, wide terraces, and westerly views of the Miami skyline. Interested?  Give me a call!

 

Competing with All-Cash Buyers?

June 15th, 2014 Written By Carol Pawley

Trade with money and key

Market Watch offers these tips for borrowers in all-cash markets like Miami

  • Be patient: Some all-cash buyers and their offers can appear and disappear, especially if the buyer is overseas. Your financing-contingent​ offer still might have a shot, especially if you’re willing to put down a large down payment.
  • Realize that flexibility is an advantage: Sometimes a line of credit on another investment property, or a home-equity line of credit, can help make your offer look even better. It may not be all-cash, but more-cash is better than less-cash.
  • Know the market: Work with your real estate agent and loan officer to find sellers that are open to accepting bids with financing. 

Link to Article: http://www.marketwatch.com/story/how-to-get-a-mortgage-where-cash-is-king-2014-06-06

Miami Prices Remain Low Compared to 2007

June 10th, 2014 Written By Carol Pawley

SANTURCE FINAL

While record real estate sales activity in Miami-Dade has fueled double-digit price increases for nearly three years, median sale prices are what they were in 2003. The price growth that began in 2011 is relative to the bottom of the market, which means prices remain low compared to their peak in 2007. The current median sale prices for homes in Miami-Dade are what they were in 2003. Compared to the peak in 2007, prices for single-family homes and condominiums are respectively 36 and 29 percent lower.

 

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