Miami Apartment Finders

Landlords are getting 97% of asking price

Miami Apartment Finders — Wed, 22 Feb 2012 00:44:58 +0000

Landlords are getting an average of 97% of list price for rentals in Miami-Dade, according to the latest data for 4th Quarter 2011. Renters face an increasingly-competitive market in core neighborhoods, with rental listings commonly attracting multiple offers. In the rental market above $1800 per month, almost half of that inventory is achieving rental rates in excess of $2500 per month, which highlights a continued increase in rents, and an acceptance toward more expensive rentals. New condo construction is under way from Coral Gables to Sunny Isles, and new buildings are selling well. The Miami residential market is an anomaly, and observers who thought the local market would take years to recover are left scratching their heads. Sales inventory in South Florida has experienced a steady, gradual decline since 2009 - shrinking from about 90,000 active listings, to approximately 20,000 listings currently. Residential prices in Miami remain attractive compared to New York City, Boston, Los Angeles and San Francisco.

Source: South Florida MLS

Survey says driving in Miami is scary but the people are hot

Miami Apartment Finders — Sat, 04 Feb 2012 16:32:09 +0000

Miami has about the hottest, most-stylish people in the country, and it doesn’t get much better if you’re looking for a hot singles scene or a wild weekend…..that’s assuming you survive the drive in from the airport. That just about sums up the opinion of roughly 40,000 people who responded to Travel & Leisure’s annual survey of 35 U.S. cities. Miami ranks dead last in “driving ability” – worse than New York City and L.A., but high on the list for good weather, shopping and nightlife. Miami got clobbered in many of the other categories but…..you didn’t come here for the beer in the first place.

Foreign Tourists make Miami a hotspot

Miami Apartment Finders — Sat, 28 Jan 2012 20:04:09 +0000

Consider the latest statistics from the U.S. Office of Travel and Tourism:

Miami ranks #3 among US cities for foreign tourism (behind NYC and LA)
Miami gets 3x the number of foreign tourists that Chicago, IL gets annually
Miami hosted about 3.1 million overseas tourists during 2010
Florida gets more overseas travelers than California

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

Miami Apartment Finders — Wed, 18 Jan 2012 18:14:50 +0000

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

Miami Apartment Finders — Wed, 18 Jan 2012 14:56:53 +0000

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.

Miami Apartment Finders — Mon, 16 Jan 2012 15:38:23 +0000

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%

Spending Growth among Foreign Homebuyers
Foreign buyers spent about:

$65 billion in the U.S. real estate market in 2009
$88 billion in the U.S. real estate market in 2010

Greater Percentage of Foreigners own a Home

Almost 80% of foreign-born U.S. residents owned a home stateside in 2009
Nationally the rate of homeownership was about 65% in 2009

Furnished 2BR / 2BA in Midtown – $2400/mo

Miami Apartment Finders — Thu, 12 Jan 2012 20:46:29 +0000

Living Room / Kitchen

Furnished 2BR / 2 BA in Midtown, overlooking the Venetian Islands, Miami Beach and Downtown. $2400/mo incl. parking, wifi and cable. Wraparound balcony with panoramic SE views. Call Paola Figueiredo 786-444-1897

Furnished 2BR / 2BA on the Ocean – $3500/mo

Miami Apartment Finders — Thu, 12 Jan 2012 20:34:12 +0000

Living Room

Furnished 2BR/2BA with huge private terrace overlooking the Ocean. $3500/mo, incl. parking, wifi and cable included. Call Elizabeth Lao 954-270-3718.

Credit Reports and your rental history

Miami Apartment Finders — Tue, 10 Jan 2012 00:44:29 +0000

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.

Genting Development could raise the bar for new condo buildings

Miami Apartment Finders — Mon, 09 Jan 2012 05:43:40 +0000

Aqua - Chicago

The renderings for Genting’s proposed casino on the existing Miami Herald site show an organic, sculptural series of highrises that could raise the bar for new residential buildings in Miami. The most recent building boom in Miami brought dozens of new residential highrises online, but surprisingly few of them showed great imagination in form and facade. The Genting buildings remind us of Aqua in Chicago – an interesting highrise in Lakeshore East, with a sculptural form inspired by organic elements of the Great Lakes.