Now is the Time to Invest In South Florida Real Estate!

If you’re planning to buy a home or Condo, do it now, because prices are going up for the next few years. Investments in single-family rental properties and Condominium units have good potential in Dade County and Broward County. Apartment developments have the best potential in Miami-Dade. The Best bets for investments are in retail or restaurants, and commercial Office space, which also needs medical office space.

Home prices have been strong in the last three years, I expect they’ll keep rising approximately 7 percent a year. There are strong reasons to believe that from here on we are looking at prices going higher. If you’re looking to buy for the long-term, do it now. If you’re looking for a short-term investment, be very careful, choose your Investments wisely. Despite signs of a slowdown, a new report shows Miami is one of the country’s biggest boomtowns in terms of household growth, and population growth.

A new report by the Miami Downtown Development Authority confirms what the restaurant openings, cranes and traffic snarls already tell us: Young professionals are still moving to downtown Miami in droves, and new businesses are following them. According to the Miami DDA’s Demographics Report, downtown Miami’s full-time population has soared to nearly 90,000 residents. That’s up 32 percent since 2010 and 150 percent since 2000. Young professionals between the ages of 20 and 44 make up about half of this population, helping to fill the more than 20 new residential towers that have been built since the last real estate boom. As the Miami Downtown Population continues to increase, they estimate the current population at 88,540 and project it will surpass 100,000 in 2021. New mega-projects like Brickell City Centre, Miami Worldcenter and All Aboard Florida’s MiamiCentral station are all expected to pull in jobs with their office and retail spaces. The time to make a prudent Investment in Miami is Now.

The Best bets for investments are in Commercial Real Estate. Retail, restaurants, and commercial Office space, which also include medical office spaces in South Florida. Office and industrial rents in Miami will continue to climb in 2017, according to reports. In Brickell, office space is hitting around $60 a square foot for Class A space; back in 2008 the high was in the upper $40s. Downtown Miami and Aventura have hit all-time highs. The urbanization of Miami, has transformed the retail landscape. The time to make a prudent Investment in Miami is Now.


Lazaro Lopez, PA
(786) 525-9430.

Miami Beach Real Estate Market Guide | Analyze the Miami Beach, FL Real Estate Market | Homesnap

Miami Beach Real Estate Market Guide | Analyze the Miami Beach, FL Real Estate Market | Homesnap

HOW TO MAKE YOUR OFFER ON YOUR NEXT HOME STAND OUT

It may seem hard to imagine but, yes, the cycle has spun around and in some markets there are bidding wars leaving buyers wondering, "What can I do to make my offer stand out?"

The real estate market is again heating up and many buyers are trying to get into the market now after taking a long break. For some, it's a chance to become first-time homeowners. For others, it's a chance to make a move up to a larger home or to buy a second home. Still others may have owned in previous years and are now getting back into homeownership. Regardless of the situation, making your offer to buy stand out among the others is important.



-Keep your offer simple and straightforward. In a market that has multiple buyers making offers, one of the best things you can do is keep it simple. That doesn't mean you have to neglect important things that you want in the offer. However, it does mean that you should not get caught up in smaller issues that could become huge issues for no apparent valid reason. For instance, a minor repair might be worth fixing yourself as opposed to putting it in the offer as a repair demand.

-Try writing an offer letter. This is a formal letter explaining why you want to buy their home. This is an opportunity to show the buyers how you will utilize the home. This is where you tell them about your family, how much you like the home and how it's perfect for your needs.

-Personal Delivery. The next two have to do with follow through. It's a good idea to have your agent present your offer in person to the listing agent. It may sound old-fashioned but this can go a long way. Real estate, like all business, is about relationships. Faxing or emailing an offer may seem very efficient but it can be less effective. Your agent should be prepared to build you and your offer up to the listing agent. This will give the agent a good presentation to take back to the buyers.
Loan Officer Follow-Up. Another great tip is to have your loan officer call the listing agent after the offer has been submitted. The loan officer can assure the listing agent that the buyer is qualified and ready to close the deal


This is not where you tell the sellers that you plan to gut their precious home and completely remodel it (even if that's the ultimate plan). You don't write an arrogant letter that expresses “there are many fish in the sea". Instead, you want to convey that this home is the one you truly want to buy. Let the sellers know that you have done your homework and hope that they will accept this offer as this home is a good fit and you're prepared to move quickly.

Most important, be ready to act swiftly when the time comes to close escrow

Miami Metro Area Real Estate Market.

The Miami Metro Area real estate market is serious. The median list price is $370,000 and the average home has been on the market for 289 days. In the past month, there have been 3,184 real estate transactions in Miami Metro Area, with a median sale price of $250,000. The recent sales activity in Miami Metro Area represents a +2.9% change over the prior month.
There are currently 46,443 Miami Metro Area homes for sale, which equals about 14.6 months of inventory. There are 18,315 detached homes for sale, 4,160 townhouses for sale, and 23,843 condos for sale. In the past 30 days, there have been 6,912 new listings in Miami Metro Area, 6,069 price changes, 4,787 new contracts, and 3,184 home sales. Visit the Miami Metro Area real estate news blog for more information.

Active Listings in Miami Metro Area
Median List Price
$370,000 +0.8%
Days on Market
289.0 +2.5%
Total Listings
46,443 +6.0%
New Listings
6,912 -31.7%
Price Reductions
6,069 -32.6%
Current
Month Ago
Year Ago
Median List Price
$370,000
$367,000
$320,000
% Change
--
+0.8%
+15.6%


Recent Sales in Miami Metro Area
Median Sales Price
$250,000 +2.9%
Days on Market
74.0 +0.0%
Total Sales
3,184 -39.4%
Contracts
4,787 -38.4%
Last 30 Days
Month Ago
Year Ago
Median Sales Price
$250,000
$243,000
$235,000
% Change
--
+2.9%
+6.4%

Aventura Homes for Sale

Welcome to Aventura one of the most beautiful and family friendly communities in South Florida.

Residents of Aventura are proud of the beautiful Don Soffer walking trail, Legendary Turnberry 18-hole golf course, nationally recognized Aventura Mall, Arts and Cultural Center, and great schools. Aventura also offers fine dining at any of many fine restaurants to choose from.

The Homes and Condos in Aventura Range in Price from 200k – 1M +

To Learn more more about properties that are For Sale in this Community, click here to start your home search: http://www.aventurapropertiesgroup.com


Lazaro Lopez
Fortune Int’l Realty
(786) 525-9430
http://www.AventuraPropertiesGroup.com
http://www.MiamiPropertyConsultant.com

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The Ritz-Carlton Residence Sunny Isles Beach, FL.

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Jade Signature Sunny Upper Penthouse Sunny Isles Beach, FL.

5 Home Buying Mistakes To Avoid!

Mistake #1: Using the wrong real estate agent. The real estate process is not the same as when your parents bought their house. Just because your friend or roommate just got a real estate license doesn’t mean he or she is the right agent for you. Vetting agents and looking for someone who does real estate "Full time" and knows the local inventory is the best way of selecting the right Real Estate Professional. Don't hesitate to ask for a resume, and questions about their most recent sales history. Your Agent needs to be "Tech Savvy" and completely mobile. You can lose an offer if you’re agent is not responsive in a couple of hours, especially if they do not answer their phone in a timely fashion.

Mistake #2: The Real Estate Buying Process begins primarily with a two step process. Get Pre-approved for a your Loan!

If and when you consider buying a home, after selecting the right Real Estate Professional. You should also get "Preapproved for a Loan". Before you get serious about buying real estate, find out how much mortgage you qualify for and get a preapproval letter from your lender. (You can check you local mortgage rates through the Miami Herald Business Monday and/or at BankRate.com). Many agents won’t even take buyers to showings until they have a preapproval letter.

Mistake #3: Maxing out your spending power. Qualifying for a half-million dollar mortgage does not mean you should buy a McMansion. First-time Home buyers should be aware of additional expenses such as property taxes, condo fees and maintenance. Many buyers fail to budget for these extra costs and assume they can afford a monthly mortgage equivalent to the rent they have paid. If you buy into a [homeowners association], you must also plan and for unexpected expenses that may arise. If a storm rips the roof off the clubhouse or the association decides to upgrade the common areas, you may get hit with a special assessment to cover those costs. For these unexpected situations, it’s a good idea to keep a cash reserve on hand. If purchasing using dual-income, from both couples choose to qualify based on just one income if possible to give yourself a financial buffer and stay conservative as much as possible.

Mistake #4: Skipping the inspection. If you’re in a competitive market that moves quickly, you might be tempted to skip an inspection to make your offer more appealing to the seller. This is a common mistake that should be avoided. All homes and Condos, whether a New Home or condo purchase or an existing home should be thoroughly inspected by a Professional Inspector. Home inspections can alert potential buyers to problems such as structural issues, faulty wiring, faulty construction and other problems a layperson probably wouldn’t spot. Insisting on an inspection, although it might slow the down the buying process. Include an inspection contingency to all offers that you make. Be cautious, you’re spending hundreds of thousands of dollars, and want to make sure you purchase a property, without hidden defects, that can be very costly to repair. Any seller that will not accept an offer based upon an inspection contingency, is probably hiding something anyway.

Mistake #5: Assuming you should buy at the asking price or, and flying blind when it comes to pricing and neighborhood stats. You need to do your homework! I cannot stress this enough.

There is a huge amount of information available on home pricing, neighborhoods, school systems — basically, everything you care about is easy to research online. This is a moment where your Internet browser can be your best friend. Making an informed decision is the best decision you can make as far as pricing. There are many tools and deep information about trends available to you, utilize them. (Visit Realtor.com, MiamiPropertyConsultant.com, AventuraPropertiesGroup.com). It makes sense to read up on the neighborhood in the local papers and visit open houses of competing homes. An informed buyer is a smart one, and today consumers and pros have access to essentially the same data. You might not be a born negotiator, and that’s OK. Many people are uncomfortable with the give-and-take of negotiations or feel unsure about how to approach it. This is where choosing the "Right Real Estate Professional", which will represent your interest, also comes into play. He or she can offer expert advice, and help when you need it.

Lazaro Lopez, PA
Broker-Associate
Fortune Int'l Realty
Cell: (786) 525-9430
E-mail: Lazaro@fir.com

http://www.MiamiPropertyConsultant.com

http://www.AventuraPropertiesgroup.com

Top 20 Reasons to Visit and Buy in Miami!

Miami Re-Invents Itself!

Miami’s Real Estate market continues to be global magnet for Investors!

Miami’s Real Estate market continues to be a strong magnet for international investment. The line between residents and investors are indistinct more now than ever. As Trouble continues to brew around the world, we have entered a period of disinvestment, in many regions and markets worldwide. This has fueled and unprecedented amount of inbound capital in overall Real Assets in the US. Real Estate assets, not exclusively to Real Estate are seeing approximately $87 Billion in foreign capital invested in US real estate in 2015, up from $9B Billion in 2009. Miami Ranks 7th Overall in the Nation, of the top 20 U.S. Metro areas with the most construction in 2015 (Miami-Ft.Lauderdale-Miami Beach areas).

Although the US has a high tax on foreign investment in real estate. A law contained in the $1.1 trillion spending measure, signed December 2015, eases the 35-year-old tax on foreign investment in U.S. real estate, potentially opening the door to greater purchases by overseas investors, a major source of capital since the financial crisis. The law treats foreign pension funds the same as their U.S. counterparts for real estate investments. The provision waives the tax imposed on such investors under the 1980 Foreign Investment in Real Property Tax Act, known as FIRPTA.).

Miami Condo Trends & Statistics
Market Snapshot for Miami
Today 1 Month Ago 1 Year Ago
Total Inventory 7,018 6,913 +1% —
Median List Price $379,000 $375,000 +1% —
% Distressed 0% 1% —
Median Days on Movoto 75 62 +20% —
Median House Size 1,175 1,167 —
Median $/Sq. Ft. 353 352 —

Condo/Townhouse

Lazaro Lopez, PA
Fortune Int'l Realty
1390 Brickell Ave, Suite 104
Miami, Fl. 33131
(786) 525-9430
http://www.LazaroLopez.com
http://www.MiamiPropertyConsultant.com

Residential & Commercial Realtor® at Fortune International
1390 Brickell Ave, Suite 104, Miami, Florida 33131

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Turnberry Ocean Sunny Isles Beach, FL.