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NAR: Pending Home Sales Edge Up In September
Key Takeaways After a dismal August, NAR’s Pending Home Sales Index rebounded to the fifth highest numbers seen in a year. September’s PHSI rose 1.5 percent to 110.0 from a downwardly revised 108.4 in August. Everyone loves a good comeback. In January, the Cleveland Cavaliers rebounded from a 3-1 finals performance to clinch the top spot in the NBA. In a week, the Chicago Cubs may complete one of the greatest comebacks ever by winning the World Series for the first time since 1908. And, according to the National Association of...
read moreArt Miami Announces this Year’s Selection of Art Basel week International Exhibitors
Art Miami, returning for its 27th installment during Art Week in Miami, opening November 29 and continuing through December 4, has announced its 2016 exhibitor list. One of the nation’s leading international contemporary and modern art fairs will showcase an array of iconic and exemplary works, dynamic projects and special installations from more than 130 international exhibitors. This year’s fair kicks off on Tuesday evening with a VIP Private Preview to benefit Pérez Art Museum Miami (PAMM) in the Art Miami Pavilion (3101 NE...
read moreA credit card’s impact on credit scores has changed
NEW YORK – Oct. 27, 2016 – Applying for a home loan? You may want to consider paying off your credit card bill first. Thanks to a recent change by major credit rating agencies, mortgage lenders can now look at whether you pay off your bill every month or keep a balance. That means homebuyers who pay off their credit cards may earn an advantage when looking for a mortgage. Historically lenders reviewed basic information such as your total debt and whether you were on-time with your payments when deciding whether to make a home loan. But they...
read moreMiami home prices up $50,000 since last year in September
Miami home sales fell yet again in September, but the market’s mid-section continued to prove popular among buyers, according to a joint report from the Miami Association of Realtors and the local MLS. Across Miami-Dade County, total sales of all property types fell 14.7 percent year-over-year, while single-family sales fell 10.8 percent and condo sales slipped 18.3 percent. Market-wide demand has been falling most of the year, especially compared to the record and near-record years of 2013 and 2014. Huge price gains this year A positive stat...
read moreFlorida real estate market rapidly returning to ‘normal’
WASHINGTON – Oct. 26, 2016 – According to Freddie Mac, the nation’s housing market is almost back to normal or, in Freddie’s terms, “on the outer edge of its historic benchmark range of housing activity.” The study also found that Florida and many of its metro areas are improving quickly. The state came in second to Nevada as “most improved,” and four metro areas made the top five for most improved month-to-month: Las Vegas, Palm Bay, Tampa, Orlando and Sarasota. In Freddie Mac’s list of metro areas...
read moreMetrorail and Metromover will run late on weekends
A goal Miami’s Downtown Development Authority has been pursuing for more than a year – late-night service on Metrorail and Metromover – will finally be realized by the end of this month. On Friday and Saturday nights, Metrorail and Metromover will run until 2 a.m., said Alice Bravo, director of the county’s Transportation & Public Works Department. “We have many more restaurants and hotels downtown, a big hospitality sector, and the extended hours will help people working in the medical industry at the Civic Center,” Ms. Bravo told an...
read moreCoconut Grove’s luxury real estate market on the rise | Miami Herald
As Miami’s primordial neighborhood, Coconut Grove evokes passion and pride among its residents past and current. Long considered Miami’s dormant market, the Grove has most recently come alive with vast opportunity driven by the demand of both residential and rental sales that includes new plans, preconstruction deals and surging prices. The Grove’s vast green canopy is a shield that has preserved the neighborhood as the area’s longstanding enclave. Nestled in the heart of Miami, Coconut Grove upholds the true character of luxury living. In...
read moreNEIGHBORHOOD TOUR: Wynwood ready for development boom as it grows up
Miami’s Wynwood neighborhood’s current incarnation as an arts district and retail and nightlife cultural hub took off in the mid-2000s when Goldman Properties and its founder Tony Goldman began buying up chunks of the neighborhood in 2006. Now, a decade later, the neighborhood is entering its next stage as a work/live destination. In addition to Goldman Properties, which still has significant interests in the neighborhood, developers and investors from far and wide are working to build up Wynwood. First came the multitude of murals, art...
read moreMiami-to-Orlando train Brightline Express 3.1 billion dollar project on track
Progress on the $3.1 billion Brightline Express train project is on track. The Brightline Express project will bring high-speed train travel to commuters from Miami to Orlando, with stops in Fort Lauderdale and West Palm Beach. The Brightline railroad’s Phase 2 — the West Palm Beach-to-Orlando section — is expected to be ready for service after Orlando International Airport’s $215 million Intermodal Transportation Facility is finished in 2017. All Aboard Florida, the company building the Brightline Express, is owned by Florida...
read moreMiami ranks 4th in US for Asian investment
Good news for Miami real estate players hungry for Asian capital. A report from commercial brokerage CBRE shows more than half a billion dollars worth of Asian cash flowed into Miami real estate during this year’s first six months, making it the country’s fourth-most popular destination for investments from across the Pacific. According to the report, Asian investors spent $665 million on real estate in Miami during the first half of this year, marking a massive jump in volume from the $34 million during the same time period in 2015. The flow...
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