With New App, Property Valuation Ranges Are Just the Beginning
Maybe you want to know about that property you’re thinking of buying. Or you just want to know the valuation range for your own property. Click through to access an app that will give you value ranges, and more, for any property you’re interested in. Welcome to our interactive feature: an automated valuation model (AVM) tool. An AVM uses software to issue estimated values for a given property, based on the latest local data. The result is a mathematically generated home value range based on proprietary information. (More...
read moreFlorida’s population exploding; expected to reach 20.7 million by end of 2016
Florida’s population exploding; expected to reach 20.7 million by end of 2016 Analysis by Cushman & Wakefield depicts a thriving economy in Florida driven by explosive population growth and high consumer confidence. The report, compiled by Cushman & Wakefield’s Research Team, analyzes population growth, employment levels, home values and retail sales activity in Florida’s eight major markets – Fort Lauderdale, Fort Myers, Jacksonville, Lakeland (Polk County), Miami-Dade County, Orlando, Tampa – St. Petersburg and West Palm...
read moreIs Miami/ South Florida the Newest Hot Spot for Manufacturing?
South Florida’s industrial developers are building bigger and better facilities to accommodate a thriving logistics market, a new wave of e-commerce giants looking for large chunks of warehouse space and an uptick of goods flowing through the now-expanded Panama Canal. Click Full Article for more details. Full Article Save Article Article Feedback Share Article
read moreFlorida GDP outpacing U.S. economic output thanks to strong real estate, construction sectors
Florida’s GDP growth of 2.1 percent in the first quarter of 2016 not only outpaced the country as a whole, but all of the other top population states and every state in the Southeast but one. Not a bad economic scorecard for the Sunshine State. A key measure of economic vitality, gross domestic product (GDP) by state is the market value of goods and services produced by the labor and property located in a state. In the first quarter, the value of Florida’s GDP stood at more than $911 billion, up more than $48 billion from a year...
read moreU.S. Mortgage Rates hit record low
From the New York website: The average interest rate on 30-year fixed-rate mortgages in the U.S. hit 3.36 percent Friday, matching the lowest level ever recorded. The last time these mortgages came with a 3.36 percent interest rate was in December 2012. Driving the trend is a decline in the yield on 10-year U.S. Treasury bonds, which serve as a key benchmark for mortgages, Bloomberg reported. The 10-year U.S. Treasury yield currently stands at 1.49 percent, down from 2.27 percent at the beginning of the year, as global investors seek safe...
read moreSquare Station Miami gets city approval
Despite negative recommendations from staff and the Miami Planning and Zoning Appeals Board, the city commission unanimously approved a zoning change that paves the way for The Melo Group’s Square Station project to move forward. City commissioners were swayed by the developers’ promise to set aside 96 apartments in two proposed residential towers for workforce housing. “I want to thank you for taking it to this level and for the affordability of this project,” said Commissioner Ken Russell. “As we try to develop this neighborhood, we are...
read moreDevelopers to provide affordable housing & transportation incorporated in new projects
During an event Thursday morning featuring an all-female lineup of prominent real estate professionals, developers Lissette Calderon and Avra Jain voiced their support for a Miami-Dade County legislative proposal that would require builders to set aside units for blue collar workers currently priced out of the South Florida market. “We have to have housing that is affordable,” Jain, CEO of the Vagabond Group, told attendees. “This is not a new idea. It’s been done in New York.” In September, the Miami-Dade County Commission is set to vote on...
read moreUber co-founder makes real estate play with Haus
SAN FRANCISCO — Uber co-founder Garrett Camp has launched a new real estate venture called Haus for startup studio Expa, which allows buyers to digitize the making and accepting of official offers on a property. Camp debuted the startup on Thursday,TechCrunch reports. Haus now aims to capture the market for buyers looking for more transparency in the process, by allowing them to see the bidding movement on a property in real time. As the process is structured now, buyers may be told they are in a bidding war, but not have any idea how or when...
read moreMillennials now largest generation in housing market
CHERRY HILL, N.J. – Aug. 2, 2016 – New research from TD Bank reveals that millennials are more conservative with their money than their youth would suggest. In fact, nearly two-thirds are saving cash in order to buy their first home. However, 74 percent of millennials say that saving for a downpayment is still the most significant hurdle to achieving the American dream, according to TD Bank’s second annual First-Time Home Buyer Pulse, which polled more than 1,000 Americans looking to purchase a first home within the next five years....
read moreThey’re back: Teardowns again becoming popular
They’re back: Teardowns again becoming popular WASHINGTON – Aug. 2, 2016 – More builders and private individuals are turning to teardowns to open up lots. They’re eyeing aging homes to demolish and replace with a modern house that they believe will be more appealing to today’s homebuyers. In Houston, the teardown trend is especially evident. Permits for teardowns have climbed 22 percent in Houston this year alone. The National Association of Home Builders (NAHB) estimates that nearly 8 percent of all single-family housing starts...
read moreHousing opportunity through Modernization Act signed. Makes room now for easier Florida condo sales
WASHINGTON – Aug. 2, 2016 – President Obama has signed H.R. 3700 – the “Housing Opportunity Through Modernization Act” – into law. The move paves the way for more condo sales, especially in Florida. First-time buyers will soon find it easier to qualify for a mortgage in more condo developments, and, as a result, more current condo owners will find it easier to move up to a single-family home. The National Association of Realtors® (NAR) hailed the development as a “significant step” in eliminating barriers to safe,...
read morePatricia Delinois featured in the Chronicles of Nardea of 2016
Chronicles of Nardea, written and published by Sara Nardea, is a collection of the Top 20 Most Fascinating Artists of 2016. These talented artists span the globes art scene from New York to Miami and range from painters, fashion stylists, interior designers, musicians, and more. Sara Nardea is a painter, art exhibition curator, journalist, author and publisher, providing you with thousands of words and dozens of pictures drowning in a sea of art, fashion and music. Full Article Save Article Article Feedback Share...
read moreMercedes Demonstrates Technological Prowess with Un-piloted 12-mile Bus Drive –
Luxury Daily As cities bear the brunt of worldwide population growth and the effects of global warming are gradually felt, public transport is a necessity. Focusing on the public transit market as the market poses for growth will keep revenue high while also allowing the brand to show off technology and position itself as a leader. “In luxury, acting as an advancer is expected, particularly considering German engineering,” said Chris Ramey, president of Affluent Insights, Miami. “Luxury demands a higher standard.”...
read moreMiami Beach approves negotiations for $400 million dollar light rail project Miami train
Miami Beach city commissioners on Wednesday directed City Manager Jimmy Morales to begin talks with the French rail firm, Alstom, on an interim agreement that could eventually lead to a light rail system being built in South Beach that could lead to a Baylink system crossing the MacArthur Causeway and connect with a similar system on the mainland. Alstom’s project, called the Greater Miami Tramlink Partnership, is the leading bidder among three the city considered. City commissioners directed Morales to carry out similar talks with the...
read moreAll Aboard Florida Miami may extend to Jacksonville
Brightline The company that is preparing to launch passenger rail service next year between Miami and Orlando via Fort Lauderdale and West Palm Beach eventually may extend the service to Jacksonville. All Aboard Florida (AAF), which expects to launch its Brightline passenger rail service by mid-2017, has formed an affiliated company called AAF Jacksonville Segment LLC. AAF formed the affiliated company to secure rights to run a passenger rail service on the Florida East Coast Railway line between Jacksonville and Cocoa, located east of...
read moreMiami Beach gets the acclaim, but there’s so much more to Miami than the beach
Miami Beach gets the international acclaim and deservingly so, but there’s so much more to Miami than the beach. From the colorful murals in Wynwood to the international banks in Brickell to the stunning Mediterranean homes in Coral Gables, Miami offers a diverse array of neighborhoods. Each of Miami’s 34 municipalities is experiencing growth and major commercial development. Let’s take a look at 10 Miami neighborhoods… Click Full Article for more details. Full Article Save Article Article Feedback Share...
read moreCoral Gables Game changer Gables Station
The Coral Gables City Commission approved plans on Tuesday for a mixed-use project that aims to transform a corner of South Dixie Highway. NP International, the developer behind the planned Paseo de la Riviera project, received approval for Gables Station, which includes residential units, a hotel, retail, parking and open space. The 4.3-acre development would replace a surface parking lot and small commercial building at 251 South Dixie Highway, which currently houses cars from the Collection. The project was previously approved for big box...
read moreJune Residential Sales Jumped 25%, Says HUD, Census Bureau
This is the biggest increase since February 2008, said Trulia’s economist. The Census Bureau and HUD use sample surveys to collect data for their home sales, which means this data is subject to sampling variability as well as the typical statistical variance. The survey is based on a sample of houses pulled from building permits. “Sales” are defined as deposits taken or sales agreements signed, not necessarily closings. Click Full Article for more details. Full Article Save Article Article Feedback Share...
read moreHow to make Miami an elite city?
South Florida CEOs share their ideas | Miami Herald Dr. Alejandro Badia is an orthopedic surgeon who leads a network of orthopedic urgent care centers called OrthoNOW based in Doral. The company has locations in Miami-Dade and Broward counties.This week’s question: A comprehensive new report names transportation, housing and income inequality as Miami’s biggest problems. What do you think is holding Miami back from joining the ranks of the world’s elite cities? While Miami has made incredible strides, there is still a great deal of...
read more2 Miami-area Neighborhoods Among Best Opportunity Markets in U.S. Miami Future Opportunities
Both Homestead and Miami’s 33150 ZIP code offer some of the best housing opportunities in the country, according to a new analysis from RealtyTrac. In its report, RealtyTrac analyzed 3,561 ZIP codes nationwide, focusing on areas with: at least 2,500 residents; an increase in construction loans from last year; an average home flipping return of at least 60 percent; and where Millennials comprised at least 25 percent of the total population. Under those standards, the 33150 ZIP was the No. 14 opportunity market in the country, with a flipping...
read moreEverything You Need To Know About The New Real Estate Sector Coming To The Global Market In September
The Real Estate Sector will be the first newly added sector to the GICS since it was introduced to the S&P Dow Jones in 1999. In September, the real estate companies in the financial sector will be evaluated and reclassified. NAREIT Research and Investor Outreach EVP Michael Grupe tells Bisnow about 97% of the new sector’s equity market cap will come from equity REITs. He says the sector is likely to be the catalyst for significant, positive developments in the stock exchange-listed REIT market. Click Full Article for more details. Full...
read moreMany Investors Prefer Real Estate, Cash Dealings Instead of Stock Market
Some investors are growing less confident in the stock market and have turned to real estate for returns—and others have become so risk-averse that they prefer operating in only cash dealings. A recent study reveals one-quarter of investors name real estate as their investment of choice over a period longer than 10 years, 23% say they’d rather keep their money in cash and only 16% said they would invest in gold, precious metals or the stock market, according to a survey by Bankrate, MarketWatch reports. Click Full Article for more details....
read moreForeign Investment in South Florida’s Commercial Real Estate Markets Surges to Highest Rate Since 2007
Miami, FL – July 19, 2016 – Over the past two years, cross-border capital flows into the U.S. have risen dramatically and in 2015 foreign investment in South Florida commercial real estate hit its highest rate in at least nine years, according to a new report by CBRE Group, Inc. Last year, Florida ranked fourth in the nation in terms of cross-border investment volume and the state improved to rank third in Q1 2016. Foreign buying is projected to cool slightly in 2016 relative to 2015, but remains elevated relative to historical rates. The...
read moreTechnology Takes Real Estate To New Places
New technology is transforming every aspect of commercial real estate: financing, pricing, design, construction and marketing. Industry leaders and innovators agree these changes could substantially decrease costs and boost profits. Changes already underway and groundbreaking products being launched mean that developers won’t have to drag potential investors and tenants to marketing centers, or even create the expensive centers. The developer can visit prospects with virtual reality (VR) viewers in hand to give them a more realistic visual...
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