Miami’s housing-price bubble – in one easy chart

Posted on January 18, 2012

Recently released data from the Federal Housing Finance Agency shows that residential prices in South Florida shot up almost 300%, from early 2000 to the peak of the bubble.  The good news – housing prices in South Florida appear to have stablized to pre-bubble levels of 2003.  Rental prices in Miami continued to rise due to rising demand, and virtually no new inventory.  Rental increases vary from building-to-building, and location, but the most recent lease-data suggests 5%-10% annual increases are typical – again, depending on location and the individual property.

Paola Figueiredo – Brickell Agent

Posted on January 18, 2012

Paola Figueiredo

Paola Figueiredo has leased condos in every major building from Brickell to Midtown, specializing in unique rentals in Coral Gables / Coconut Grove, Brickell, Downtown Miami, and Midtown.  Paola, a native of Sao Paolo, Brazil started her real estate career in Miami selling luxury condos in Aventura, and later did condo conversions locally with Prodigy International.   Paolo has worked with buyers from around the world, including many Brazilian buyers seeking attractive real estate opportunities in Miami.  In 2010, Paola joined Miami Apartment Finders after making a decision to expand her client services to include rentals, as a way of expanding her exposure and depth in the Miami real estate market.  Paola lives in Brickell, and visits Brazil regularly to catch up with friends and family.

Florida has highest number of foreign homebuyers in the U.S.

Posted on January 16, 2012

Florida Ranks #1
According to a recent study by Credit Sesame and the National Association of Realtors, Florida has the highest number of foreign homebuyers in the U.S.   A whopping 31% of all foreign homebuyers bought in Florida during 2009, which is notable given the populations of California and Texas.  Here are the top four states for foreign homebuyers in 2009, by percentage of total sales:

• Florida – 31%
• California – 12%
• Texas – 9%
• Arizona – 6% (more…)

Credit Reports and your rental history

Posted on January 9, 2012

Major property managers and apartment companies are beginning to report rental payment histories to the three largest credit agencies, according to an article in the New York Times.  Given that Miami’s rental market is dominated by private owners, it seems unlikely that local renters will see payment histories on their credit reports anytime soon, because private owners have no efficient way of reporting the data.