Real Estate Blog, Real Estate News, Miami Beach Real Estate Blog

Tuesday, February 17, 2009
Tags:   Miami Beach condos, Miami Beach homes, South Beach Real Estate, Miami Beach Real Estate

Last year, surging gas prices had many people trying to figure out how to lessen their commute or figuring out a way to work from home.  On top of trying to buy South Beach real estate, location played a major factor which forced many people to choose a location in the Miami Beach suburbs instead of the waterfront condo they were originally intending upon.

Gas prices have since tumbled but many people would still prefer not to have to drive at all if circumstances allowed for it.  This is where the growing trend of “live-work” residences might be of interest.  Instead of advertising rooms that can function as offices, live-work residences are constructed as homes with genuine offices built-in, custom shelves and high speed internet included.  Web designers, writers and pretty much anyone who has a job where they can work from home can benefit greatly from these types of homes.

There are numerous benefits in a “live-work” residence, the commute savings and reduced carbon footprint only being two of them.  Here in South Florida where getting anywhere within a reasonable amount of time requires vehicular travel, what are the odds of these types of homes becoming a popular buying option?


Thursday, January 22, 2009
Tags:   South Beach Real Estate, Miami Beach Real Estate

Of non-homeowners polled, an overwhelming majority felt that the reason they won't buy real estate in the next year is because it's too expensive. Even in the current real estate market with homes being less than half their value from only three years ago in some places, buyers still think homes are too expensive. Experts think that buyers (especially first time buyers) don't have an affordability problem as much as an "unrealistic standards" problem.

Most first time home buyers want a new home with multiple bedrooms in a good neighborhood. First time home buyers often fail to realize that their first home purchase should be a step to build on for a future real estate purchase. Many non-homeowners are spending equal amounts of money on rent that they would on a mediocre property. Looking for smaller homes and fixer-uppers is the best idea for a first time homebuyer. Finding a home with a low enough price that can be paid off in ten to twenty years is better than buying a home that is so expensive, it will take thirty years to pay off if the buyer can even afford the mortgage payments.

Recent surveys also show that a first time homebuyer's propensity for buying unaffordable homes may come from impulsiveness. The survey said that first time homebuyers usually look at five to ten homes before making a decision to purchase. Learned buyers usually look at fifteen to twenty homes before making a decision. The excitement built around buying a first home seems to cloud the judgment of first time homebuyers forcing them into tight situations.

A recent trend with home buyers is that they are seeking larger homes; the problem with this is that larger homes come with a larger price tag. The modern consumer needs to adapt to the market, larger homes are not affordable to first time buyers and they need to make due with smaller properties.


Monday, September 15, 2008
Tags:   South Beach Real Estate, Miami Beach Oceanfront Homes, Miami Beach Real Estate, Miami Beach Florida Condo

With the constant barrage of bad real estate market news, many have been tirelessly awaiting the day when Miami Beach real estate will return to its former status as a lucrative and highly successful market.  As much as we all wish we could grab a crystal ball and precisely pinpoint the day the market woes will end, for the time being we’ll just have to take some kind of comfort and reassurance in the small gains that have been appearing as of late.

Most people recognize these gains as home sales and price stabilization which are certainly welcome but don’t give any kind of indication as to when the South Beach real estate market will finally “bottom out” and turn things around towards a full scale market recovery.  While it’s not necessarily the guarantee that the market will be recovering, recent figures and reports show that investors are purchasing distressed properties from banks eager to get rid of them.  Investment companies in particular have always maintained large reserves of funds on hand but it’s only recently that they’ve taken the next step towards using those funds (over $20 billion) in purchasing some of these distressed properties carrying unusually low price tags.

Many investors have already purchased multiple distressed properties which certainly go a considerably long way in decreasing the large amount of properties banks are grappling with.  It’s just as important to note that even with such welcome news it will likely take some time before the price(s) and value for a Miami Beach Florida condo will receive a welcome boost.  This is not the kind of news existing homeowners want to hear but considering that the Miami Beach real estate market is in full buyer mode, perhaps this stagnant period will be short lived now that distressed properties are being bought.
 


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