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| Judy Russell, Vice President / Managing Broker 305-279-8814 |
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Forget millennials: Gen X driving today’s market
CHICAGO – April 18, 2017 – Millennials often get all the attention, but members of Generation X are really the ones driving the housing market lately. Gen Xers – adults between the ages of 37 and 51 – make up the second largest share of home buyers, comprising 28 percent in 2016, according to data from the National Association of Realtors® (NAR). They’re also buying the largest, most expensive homes compared to any other generation. The median price of homes purchased by Gen X buyers is $261,000, and the median size of the homes is...
read moreDowntown Miami site for 1700-room convention center hotel expected to close in weeks, per report
The much-discussed Downtown Miami convention center hotel planned for the old Miami Arena site (700 North Miami Avenue) inches closer to life, with MDM Group reportedly under contract to acquire the property for $44.5 million with the deal expected to close by the end of March, according to The Next Miami. New plans were filed under the “Marriott Marquis Miami Worldcenter Hotel & Expo Center” towards the end of 2016, with the updated design calling for two standalone towers within the estimated $750 million project. NBWW is the architect....
read moreMiami’s 11 most expensive homes for sale, mapped
With Miami’s abundance of luxury residential developments and proximity to both the bay and ocean, it’s no revelation to see so many active homes for sale with jaw-dropping price tags. In taking a look at the pinnacle of the Miami real estate market, we now learn five homes are listed at $40 million or higher with at least another dozen exceeding the $30 million mark. As for lavish homes sold in Miami-Dade county in 2016, three changed hands for over $25 million apiece, according to Zillow. In mapping out the 11 highest priced...
read moreChange in credit reporting could affect home buyers
WASHINGTON – It could be a boon for some home buyers — their credit scores will get a surprise boost — but worrisome for mortgage lenders, landlords and others who depend on credit reports to evaluate their potential customers. In a little-known policy shift, the three national credit bureaus — Equifax, Experian and TransUnion — plan to stop collecting and reporting substantial amounts of civil judgment and tax lien information on public records affecting millions of American consumers starting July 1. Both types of information have...
read moreRising rates luring foreign investors to the US
From TRD New York: When the Federal Reserve raised interest rates in March for the second time in three months, it signaled that the nine-year stimulus campaign launched during the financial crisis was nearing an end. Overseas, however, “lower for longer” remains the reality, with low or even negative interest rates expected to continue in countries like Germany and Japan. Even amidst uncertainty created by the Trump administration’s foreign policy, with yields in their own countries low, some foreign investors are gearing up to spend more on...
read morePanorama Tower, Florida’s tallest building, tops off in Miami’s Brickell
South Florida has just reached new heights, adding to its skyline the tallest building in Florida and the tallest residential project south of Manhattan. Looking over downtown Miami’s Brickell Avenue at 85 stories, Panorama Tower includes 821 rental units served by 45,000 square feet of amenities; 208 hotel rooms by Hyatt Centric; 100,000 square feet of office space; and high-end retail outlets and restaurant space spanning about 50,000 square feet. The entire project, built by developer Tibor Hollo’s Florida East Coast Realty, is expected to...
read moreThe Hottest Restaurants in Miami Right Now, April 2017
More often than not, tipsters, readers, friends and family of Eater have one question: Where should I eat right now? And while the Eater 38 is a crucial resource covering old standbys and neighborhood essentials across the city, it’s not a chronicle of the ‘it’ places of the moment. Thus, we offer the Eater Heatmap, which will change continually to always highlight where the foodie crowds are flocking to at the moment. The qualifications for the the map is the restaurant has been around for less than 6 months and is serving...
read moreMiami has a lot to gain from the introduction of self-driving cars
Many cities are considering it, but benefits aren’t guaranteed. Click Here to read more.
read moreThe biggest hurdle to buying a house in Miami? Coming up with the down payment
A new survey of aspiring home owners around the U.S. confirms what Miami renters already know: Rents are so high, there’s not enough money left over to save up for a down payment. According to the first Zillow Housing Aspiration Report (ZHAR), a new semi-annual survey of 10,000 renters from 20 major metro markets across the country, 67.9 percent of people in the U.S. say coming up with a down payment is the main reason keeping them from buying a home. In Miami, 64.7 percent of respondents cited the same problem. Qualifying for a mortgage was...
read moreLincoln Road-area food hall slated to open fall 2018
Miami Beach-based Terranova Corp. aims to build a 9,600-square-foot food hall at the intersection of Meridian Avenue and North Lincoln Lane near the Lincoln Road mall. The Lincoln Eatery is slated to debut at 723 Lincoln Lane in Miami Beach in the same building as Marshall’s. Terranova is placing this project in what it calls the next “it” neighborhood in Miami-Dade County, the NoLi District, which would run parallel to Lincoln Road. The Lincoln Eatery is slated to debut in fall of 2018. Click Here to read...
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