Miami Sales set a New Record in 2012 exceeding 2011

Great News for all current and future residents and investors in Miami.

According to the Miami Association of Realtors, Miami home sales set a new record in 2012, exceeding the previous record set in 2011 and even the height of the real estate boom in 2005. 

The Miami real estate market cemented a strong comeback in 2012, as prices posted double-digit appreciation and sales rose despite a housing inventory shortage.

Year-end sales of single-family homes in Miami-Dade County rose 7.9 percent to 11,463 in 2012 compared to 10,625 in 2011.  Sales of condominiums in 2012 increased 1.2 percent to 16,383 compared to 16,187 in 2011.

Miami-Dade County residential sales increased 12.5 percent in December compared to a year earlier.  The sales of existing single-family homes in Miami-Dade increased 16.4 percent, from 892 to 1,065.  Sales of existing condominiums increased 9.8 percent, from 1,270 to 1,395, year-over-year.

Source: NAR

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com  

Why Sunny Isles Beach?

There are many reasons to live in Sunny Isles and here you can appreciate and understand some of the reasons why its residents have chosen this wonderful place.

Sunny Isles Beach is midway between downtown Miami and Fort Lauderdale with easy access to business centers, entertainment, sports and recreational facilities, and tourist attractions. Residents and visitors can fly into either Miami International or Fort Lauderdale/Hollywood International airports, or cruise into the Port of Miami or Port Everglades and be in Sunny Isles Beach within 20 to 30 minutes.

Almost one million vacationers visit Sunny Isles Beach annually to enjoy the 2 ½ mile-long fine sand beach and outdoor amenities such as water sports, boating, fishing, and tennis as well as the abundant shopping, dining and entertainment options nearby. The landmark fishing pier is a local favorite while the beautiful Samson Oceanfront Park provides a children's play area and space to relax; meet friends and enjoy the sunrise.

The City is experiencing a major redevelopment renaissance on the east side of Collins Avenue, the main thoroughfare. Zoning laws ensure that view corridors and beach access pathways will always offer residents a life with a view. To the west of Collins Avenue, the City is building parks, improving the infrastructure and laying the groundwork for future redevelopment.

The emphasis of most of the redevelopment is on residential condominium construction. The City is steadily replacing outdated motels with luxury residential oceanfront development. Much of the residential construction is not for year-round occupancy, however the statistics show a steady growth in young families who desire to be near the ocean.

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com  

International Buyers Coming to Miami

Miami Real Estate a Great Considered a Solid Investment by the International Community

Although home buyers come from all over the world, a few regions and countries account for a majority of home sales to international clients. According to the survey of Florida REALTORS®, Canada had the largest share of buyers of any country accounting for 36 percent of recent sales. Buyers from the United Kingdom accounted for 15 percent of foreign home buyers, virtually unchanged from 16 percent the previous year. The rest of Western Europe accounted for an additional 14 percent. Latin America, defined for the purposes of this report to include Mexico, the Caribbean nations, Central America and South America, accounted for 16 percent of recent sales to international clients, down from 23 percent the previous year.

In addition to Canada and the United Kingdom, countries with a small but significant share of sales included Germany (5 percent), Venezuela (3 percent), Brazil (3 percent) and France (3 percent). Source:NAR

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com  

Ownership In Miami

Nationally the homeownership rate rose steadily from 1940 through 2000. However, in the subsequent decade, homeownership tumbled following the housing market decline in 2006, falling from a peak of 68.9% in 2005 to 66.1% in 2011. The sharp decline was driven by nearly 4 million foreclosures since 2008 and the transformation of many homeowners into renters. Tight lending standards and a weak economy have hampered the ability of many would-be homeowners to make a purchase. Locally, the homeownership rate in Florida peaked at 72.4% in 2005 before declining to 69% in 2011.  *Source: NAR 

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com