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Real Estate Roundup: Smaller Home Inventories In South Florida Affecting Condo Sales

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At the start of the year, buying a luxury condo in the Miami or Fort Lauderdale area was heralded by real estate experts to be a sound decision. This was because the dollar was strong, and developers were offering good discounts of between 1o to 20 percent to absorb the oversupply. Image source: sflhomeinspections.com Approaching the middle of 2018, being ready to buy has become even more important as the inventories dwindle, especially among smaller homes. According to Florida Realtors, the March rebound in condo sales had dipped in the tri-country region just last month. Sales in Miami-Dade County, which had a then 15-month streak of decline broken, came back down anew. Single-family home sales declined by 0.2 percent from a year ago, while the median home price increased by 8.3 percent. The same lowered sales are true in Tampa and Orlando, but they did see an increase in the Jacksonville area. For condos and townhouses, the sales dropped by 6.8 percent. Expe
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Can the Cleveland Cavaliers even get to the playoffs’ conference finals?

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Just a game into the 2018 NBA playoffs and the Cavaliers already look to be on shaky ground. The loss to the Pacers in the first of their seven-game series was the first in Lebron James’ playoffs career and had Cleveland surrendering homecourt advantage to Indiana.  Image source: sbnation.com A lot of people didn’t expect this turn of events, for sure; almost every NBA expert saw a sweep, especially given how the team had run roughshod over opponents in the previous year. But is it now evident that Indiana is no push-over. Victor Oladipo and Lance Stephenson led the Pacers to a dominant wire-to-wire win. The Cavs didn’t take the lead at any point in the game.  What’s troubling for the Cavs’ campaign is that the anemic performance is not an aspect of youth and fresh legs, but of playoffs inexperience. Lebron got his now-regular triple-double, and Kevin Love’s game was fine, but the rest of the Cleveland cast seemed lost on the court. More importantly, the entire
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A look at the Heat’s chances heading into the 2018 NBA playoffs

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With but a few weeks left in the regular season and the Heat having cemented their place in the upcoming NBA post-season, fans of Miami’s pro basketball team are now looking to how the squad would fare. Just how good are the Heat this year, and can they go deep into the playoffs?  Image source: hothothoops.com Though positioning in the Eastern Conference isn’t etched in stone at this point, it’s safe to say that the lower four teams in the now-finalized eight (the Pistons have been eliminated) are keen on avoiding Lebron’s Cavaliers in the first round. As of this writing, the Pacers are on fifth place, with the Heat, Wizards, and Bucks taking the sixth, seventh, and eighth, respectively.  The win-loss records of these last three teams are very identical, and it makes perfect sense for their management to be watchful of Philadelphia’s campaign to rise to the third position (as of this writing, they just beat the Cavs to secure that spot). If the trend continues, Mia
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Real estate forecast for South Florida in 2018

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Following a slow year in its property market, South Florida is ripe for new investments particularly in the luxury segment of Miami or Fort Lauderdale, according to experts. It’s what they dub a “perfect storm”: prices are softened, developers and sellers alike are willing to offer up to 20 percent in reductions, and there’s lack of new construction that allows the the absorption of current oversupply. Image source: Pixabay.com Analysts of the South Florida real estate market are also highlighting a U.S. tax reform bill that could translate to huge savings for people willing to relocate to this part of the country, as well as an aging population that seeks out luxurious living and nice, retirement-friendly weather.  Miami prices for luxury offerings are expected to remain flat in 2018 due to the oversupply that needs to be tackled, leading to developers and sellers offering price incentives for moving both new and resale properties. Certain market factors could hike
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Commercial real estate trends shaping the market in 2018

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This new year holds much promise for commercial real estate investors, especially as the industry adjusts to new tax laws and rises above the economic and political uncertainty of the past couple of years.  Image source: bisnow.com One thing to pay attention to is whether interest rates will go up or not. This is highly dependent on the pace of inflation; Last December saw an unexpected increase, and rate hikes are most likely if that trend continues. But if inflation maintains its sluggish progression as was the case for most of the past year, the Federal Reserve would find it hard to justify any additional hike. The bottom line is if interest rates don’t go up, the cost of borrowing and the value of properties will remain stable.  The latest U.S. tax changes will affect the stability of foreign lending in 2018. While these tax reforms do benefit businesses by allowing lower corporate taxes, they may have detrimental effects on commercial real estate lending local
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More real estate projects are pushing into South Florida

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Despite nearly five years of plateau in its office-space segment, the South Florida real estate market is now on the rise, evidenced by new office buildings all set to open within the year. This welcome development is fueled by a growing number of renters, mostly in the submarkets.  Image source: miamicentral.com While this does not yet signify an official boom, multiple projects are being planned in the area in a huge effort to meet increasing demand. Residential construction has dipped a little through the first eight months of 2017, but nonresidential construction, including various types of commercial real estate, has gone up by 36 percent to $3.8 billion.  The rationale is, there having been few constructions in South Florida for quite a while, the amount of vacant space has declined. The yearly net records of office spaces have been steady, yet higher rents in certain submarkets have made new developments attractive, paired with consistent growth of jobs in t
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Restaurants and coffee houses worth visiting in South Florida

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There is a plethora of places for great gastronomic delights and getting your coffee fix if you find yourself in the Sunshine State, particularly the Miami and South Florida area. Here is a short list of these must-visit venues.  Image source: onthegrid.city The Alchemist, 1111 Lincoln Rd. This almost hole-in-the-wall, low-key coffee shop houses one of the best brews in the entire South Florida area. Coffee flavors here are condensed for over 24 hours then mixed with brown sugar and sweet milk. A fine place to just relax and have a cupful or more for that buzz.  Le Chick Rotisserie, Wynwood   This Amsterdam-themed restaurant will open soon in a 4,000-square-foot space at 310 to 320 Northwest 24th Street. For both Amsterdam vibes and authentic Western Netherlands delicacies, Le Chick is destined to be a favorite among both locals and tourists. Eternity Coffee Roasters, 117 SE 2nd Ave.   Eternity is famous for varieties imported from small farms in p
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