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Inside Miami Real Estate Blog

http://miamiangelproperties.com/blog

By Ross Milroy | Broker in Miami Beach, FL
  • Starwood Bets on Condo Hotels

    Posted Under: General Area in Miami, Home Buying in Miami, Investment Properties in Miami  |  February 14, 2013 8:12 AM  |  1,276 views  |  No comments

    As hotel occupancies and rates are expected to climb in Miami again this year, Starwood Capital and partners are betting on the revitalization of the former Gansevoort Hotel in South Beach. According to the Wall Street Journal, Starwood will brand the project as a 1 brand with a mix of 417 hotel rooms and 163 condominiums. Prices for the condos that are expected to go on sale this spring and are expected to average $915 per square foot. With recent sale prices at the Setai Residences averaging $1,927 per square foot and the W Hotel condos $1,530 per square foot, this may seem like a paltry sum to pay. Let’s hope that Starwood is able to finally transform this entire block and what has historically been a major money pit into something worthy for the neighborhood.  If the recent all cash sale of the 7,107 SF penthouse at Setai for $27 million, or $3,800 per square foot, is any indication of the appetite for a luxury condo-hotel product, then Starwood has much to look forward to.

    Deal of the Week: A Hotel-Condo Revival, Wall Street Journal

  • Desitination Casinos in Miami?

    Posted Under: General Area in Miami, Market Conditions in Miami, In My Neighborhood in Miami  |  October 26, 2011 8:18 AM  |  2,877 views  |  No comments

    Ever since the Genting Group from Malaysia purchased the Miami Herald site for $236 million in May this year, the lobbyists, business elite, and local and state politicians have been discussing bringing a full scale destination casino to Miami.

    Let’s face it, the state, county and city of Miami have major budget issues. They need to increase the coffers before heads begin to roll.

    Genting’s Resorts World Miami is a big deal. Miami has risen from being a second home and resort destination for wealthy Americans in the 1920′s and 1930′s, to a diversified global city that is the U.S. hub to the Americas. We no longer sell real estate to the Firestone’s, J.C. Penny or Tony Bennett, but to a multitude of Europeans, South Americans and Asians.

    I distinctly remember walking through the redesigned and expanded Fontainebleau Hotel a few years ago and thinking to myself that I must be in a resort in Las Vegas and not Miami Beach. Whether this property was redesigned to fit a destination casino model or not, it surely feels like one when you have several major restaurants and Liv nightclub pumping on the weekends.

    As much as I would despise hearing the ringing of slot machines in the Bleau Bar, we are certainly missing out on the global gambling craze. According to the American Gaming Association, in 2010 the “commercial casino industry had gross gaming revenue of more than $34 billion, but paid over $13 billion in wages and benefits and nearly $5.8 billion in taxes, plus other expenses.”

    The time has come for Miami to get in the game. People love to gamble and casinos generate loads of jobs and taxes. So while a variety of “special interest” groups, Genting Berhad and the local business elite are all vying for a piece of this pie, we need to get our act together and continue to develop Miami as an international destination and diversified global city.

    Ross Milroy is the owner and broker of Miami Angel Properties, LLC, a real estate company that focuses on buying, selling, renting and managing luxury condo and waterfront properties in the Miami Beach, downtown Miami, and coastal communities of the Miami area. Ross has over 20 years of real estate experience and holds a Masters Degree in Real Estate from the Chapman School of Business at Florida International University. He may be reached at  ross@miaprop.com.

    Copyright © Miami Angel Properties, LLC


  • Miami Beach governs short-term or vacation rentals

    Posted Under: Home Buying in Miami, In My Neighborhood in Miami, Property Q&A in Miami  |  October 6, 2011 11:36 AM  |  3,285 views  |  1 comment

    Over the past year, many South Florida municipalities have adopted ordinances that govern short-term or vacation rentals, including Miami Beach, Surfside, Bal Harbour and Key Biscayne. Unfortunately, these new ordinances may have a financial impact on either your decision to invest, or on your existing property investment in South Florida.

    In June 2010, the city of Miami Beach passed a new ordinance limiting short-term rentals within the historic districts of Flamingo Park and Espanola Way in South Beach. Highlights of Sec. 142-1111 of the City Code of Miami Beach include:

    • Residential properties within the RM-1 or TH zoning districts of Flamingo Park and Espanola Way Historic Districts.
    • Short-term is defined as rental period of less than six months and one day.
    • Existing short-term rental properties have to apply to become eligible. To qualify you must demonstrate a current and consistent history of short-term renting and that this is the primary source of income derived from the unit, as defined by several requirements.
    • A letter from the condominium association is required and must state the minimum rental period and maximum number of rentals per year.
    • An application fee of $600 is required to apply for a certificate of use permitting short-term rentals. Approvals will be issued for a one-year period.
    • No unit may be rented more frequently that once in every seven days.
    • All rentals must be supervised by the owner, manager or local real estate broker, who must be available 24 hours a day, seven days a week, and who must have a principal office or residence within either district.
    • Violations are subject to stringent fines from $500 for the first violation up to $7,500 for the fourth violation, revocation of the certificate of use, or an injunction by a court.

    While short-term renting or "party houses" may have become an issue in certain single family neighborhoods in Miami Beach, it is difficult to understand the purpose of putting these ordinances in place in these two historic districts.

    Did local hotel owners lobby the city as they feel that they are losing market share? Or, is this the result of the municipalities not wanting to lose some local control due to Florida state bill HB883 that essentially deregulates the short-term rental industry in Florida?

    Whatever the reason behind these new ordinances, they will have an effect on property owners in these districts. Most residential real estate buyers in the South Beach market are either investors or individuals seeking a second home. If you restrict the rights of a property owner to earn income from short-term rentals on their property, you have essentially reduced the both the marketability and value of the property.

    Download a copy of Sec. 142-1111 Short term rental of apartment units or townhomes
    Download a copy of the Historic Districts of Miami Beach

    Are you looking for a Miami or Miami Beach property at a deep discount? Are you looking for a discounted short sale or bank owned property? Ross Milroy is the owner and broker of Miami Angel Properties, LLC, a real estate company that focuses on buying, selling, renting and managing luxury condo and waterfront properties in the Miami Beach, downtown Miami, and coastal communities of the Miami area. Ross has over twenty years of real estate experience and holds a Masters Degree in Real Estate from the Chapman School of Business at Florida International University. He may be reached at 305-788-1220 or ross@miaprop.com.

    Copyright © Miami Angel Properties, LLC

  • Common Miscalculations Property Investors Make

    Posted Under: General Area in Miami, Home Buying in Miami, Rental Basics in Miami  |  October 4, 2011 7:04 AM  |  2,830 views  |  No comments

    Following a horrific third quarter, many investors are now focusing on income producing investments and the Miami housing market is at bargain levels. It is time to consider buying an investment property in Miami?

    Miami attracts a wide variety of investors and the majority over the past few years have been an international bunch with cash that have been taking advantage of a weak dollar. Some investors aim for properties that produce rents at 1% or less of the purchase price. For example, $1,500 a month in rent for a $150,000 condo or home, or an annual gross return of 12 percent. Today, some of our investors are actually realizing as much as 2.5% yield of the purchase price per month.

    However, this rental yield actually provides an average return of 4 to 6 percent of the purchase price as investors have to account for expenses and real estate taxes. Considering that the Dow Jones Industrial Average just finished the third quarter down 12 percent and that the S&P suffered an even bigger decline, this return is clearly above what equity investments yield.

    Purchasing an investment property in Miami requires expert help and a tremendous amount of due diligence. You have to remember that owning an investment condo can be expensive, management intensive and challenging.

    Here are some common miscalculations Miami property investors make:

    1.  Underestimating repairs and rehab costs - Many investors underestimate the extent and nature of the repairs required to offer an acceptable product to renters. Mold, inefficient air conditioning units, wood rot, insulation, and shoddy window treatments are common issues. Often what appears in good shape on the surface may be a nightmare lurking beneath.
    2. Assuming you will rent out the property immediately - Renters tend to show up at the last minute and they want the property to be turn-key and "move-in" ready. If you place an unfinished or dirty condo on the market, they will simply move to the next best available.
    3. Ignoring key expenses - It is not simply a matter of knowing the potential rent, monthly maintenance fee and estimated annual real estate taxes. Investors have to also factor in closing costs of 1.5 to 3 percent, the expenses to fix up and maintain the property, property management, plus any holding costs while vacant.
    4. Exit strategy - Having a clear and defined exit strategy is key to owning investment property. When and how do you plan to exit the property? When you exit what is the assumed sales price less your selling expenses? How will you market and sell the property? Will financing be available to potential buyers?
    5. Opportunity costs - In real estate, time is one of your biggest challenges. Properties age and can rapidly deteriorate if not adequately maintained in Miami's tropical climate . You also lose money when your home is vacant, and managing and marketing an investment property is very time consuming. Hiring a competent and reputable local property manager is a key ingredient.
    6. Owning an investment property is the same as owning a home - This is a common misconception that investors make. Tenants will not put up with maintenance issues like you will in your own property. Many communities also have certain ordinances in place that may restrict your ability to freely rent your property.
    7. Condominiums pitfalls - While the investment condo may have an ocean view, did you consider that the monthly condo fees of an oceanfront condo can be extremely high? Although the monthly condo fees may appear manageable, does the condo association have reserves and are there any upcoming or current special assessments? Has the building cleared and satisfied the 40-year re-certification? Remember, it is smart to always perform a Condo Stress Test.


    Are you looking for a Miami or Miami Beach investment property at a deep discount? Ross Milroy is the owner and broker of Miami Angel Properties, LLC,
    a real estate company that focuses on buying, selling, renting and managing luxury condo and waterfront properties in the Miami Beach, downtown Miami, and coastal communities of the Miami area. Ross has over twenty years of real estate experience and holds a Masters Degree in Real Estate from the Chapman School of Business at Florida International University. He may be reached at 305-788-1220 or ross@miaprop.com.

    Copyright © Miami Angel Properties, LLC


  • Recent Miami Beach Transactions

    Posted Under: Market Conditions in Miami Beach, Home Buying in Miami Beach, Home Selling in Miami Beach  |  October 3, 2011 7:27 AM  |  3,047 views  |  No comments

    The following are several recent and notable residential and commercial real estate transactions that took place in the Miami Beach area:

    Rapper Lil Wayne pays $11.6 million for mansion on La Gorce Island

    According to public records, Dwayne Michael Carter Jr., better known as Lil Wayne, purchased a waterfront home on exclusive La Gorce Island for $11.6 million on August 15, 2011.

    The seller, Turkish native Mehmet Bayraktar and CEO of the Flagstone Property Group in Miami, purchased the home in February 2006 for $8.6 million. The waterfront home consists of 15,101 square feet with 8 bedrooms and 10 bathrooms on a 20,857 square foot lot.

    Boulevard Hotel & Café in South Beach sells for $6.8 million

    On August 18, 2011, MAM-SBR Property Owner LLC, or Marathon Asset Management LP, sold the 40-room Boulevard Hotel and Café located on Ocean Drive in South Beach for $6.8 million, or $170,000 per key, to a Florida company, EACT Group Inc.

    Originally built in 1950, the historic 3-story property consists of 40 rooms and suites on a 6,500 square foot lot.  According to public records, Marathon had taken title to the property from South Beach Resorts, LLC, just over one year ago in March 2010 for $4,800,100. South Beach Resorts purchased the property in July 2005 for a purchase price of $9.0 million.

    Waterfront Miami Beach residential parcel sells for $15 million

    A two-acre vacant parcel of land, or an 80,000 square foot lot, located in Miami Beach’s ultra-exclusive Indian Creek Island traded hands for $15 million, or $188 per square foot, in early August. The seller, L&L Indian Creek Properties LLC, purchased the parcel in 2005 for $11.4 million. According to the broker that handled the transaction, the buyer is backed by French investors and plans to build a 15,000 square foot home on the lot.

    With only 35 homes and the Indian Creek Country Club, plus its own police force and boat patrol, Indian Creek Island has been dubbed “America’s Most Exclusive Community.” Famous residents have included singer Julio Iglesias, Rick Pitino, Don Shula, Sheik Mohammed al-Fassi, and Carl Icahn, to name a few.

    Retail building purchased for $9.7 million

    In August 2011, owner of the landmark Sterling Building on Lincoln Road, Sam Herzberg, purchased the retail property located at 800 Collins Avenue for $9.7 million, or $780 per square foot. The 2-story building consists of 12,440 square feet, and includes tenants such as Banana Republic. The seller, T.J.A.D. Ltd., originally purchased the property for $1.6 million in 1994.

    ST Residential takes control of Artecity condo project in South Beach

    In early July, 2011, ST Residential, a joint venture between Starwood Capital, TPG Capitaland the Federal Deposit Insurance Corporation, took control of all 127 unsold condominium units at Artecity.

    Originally inspired and developed by Alessandro Ferretti and Claudio Benedetti, hotel owners and real estate developers in South Beach, Artecity was designed as an “upscale residential village” in the Arts and Cultural District of Miami Beach. The development was designed by Arquitectonica and consists of a total of 202 condominiums in five buildings that share two pools and a garden.

    Development site in Sunny Isles Beach sold for $24 million

    The oceanfront development site located at 19505 Collins Avenue in Sunny Isles Beach, consisting of 1.14 acres or approximately 49,700 square feet, sold on September 15th for $24 million, or $483 per square foot, to a local development group. The seller of the site, Regalia LLC, had been approved to build a 43-story residential condominium. However, no construction had taken place and the seller was facing foreclosure.

    Are you looking for a Miami or Miami Beach property at a deep discount? Are you looking for a discounted short sale or bank owned property? Ross Milroy is the owner and broker of Miami Angel Properties, LLC, a real estate company that focuses on buying, selling, renting and managing luxury condo and waterfront properties in the Miami Beach, downtown Miami, and coastal communities of the Miami area. Ross has over twenty years of real estate experience and holds a Masters Degree in Real Estate from the Chapman School of Business at Florida International University. He may be reached at 305-788-1220 or ross@miaprop.com.

    Copyright © Miami Angel Properties, LLC

  • Signs of Economic Recovery in Miami and South Florida

    Posted Under: General Area, Market Conditions, In My Neighborhood  |  June 17, 2011 8:16 AM  |  2,759 views  |  No comments

    With a population of just over 300, the city of Miami was officially incorporated on July 28, 1896. Today, according to the US Census Bureau, Miami’s greater metropolitan area has an estimated population of over 5.5 million.

    Miami – A Global Financial Center

    According to the Global Cities Index 2010, in terms of finance, commerce, entertainment, the arts and international trade, Miami ranks thirty-third among global cities. So what does Miami need to become a major global financial center?

    First, we need tax incentives to stimulate local employment by encouraging the growth and relocation of regional and transnational enterprises. Second, we need to have the infrastructure in place to support a vibrant local economy, international trade and tourism. Third, we need the local technical expertise to support the international banking, finance and trade industries. Fourth, we need continued migration to our area, which results in the formation of new households.

    In many respects, Miami is positioning itself for future growth and development on a local, regional and international level. Yes, one may argue that our current growth plan is political and lacks a long-term, sustainable and financially responsible strategy. However, there have been a number of recent successes and economic indicators that represent very positive changes for Miami.

    Miami 21 – “Miami of the 21st Century”

    Miami 21 is a new vision for the City that will be supported by specific zoning and planning guidelines to make each area within Miami a “unique, vibrant place to live, learn, work and play.” According to Miami 21, there are six elements that form the backbone in the development of Miami: Miami 21 Zoning Code, Economic Development, Historic Preservation, Parks and Open Spaces, Arts and Culture, and Transportation.

    The Miami 21 Zoning Code is a form based code with emphasis on the “relationship between the street and buildings, pedestrian and vehicles, public and private spaces, and the relationship between multiple buildings, a block, a neighborhood, and transitions in scale.” Even if you are not a city planner, the fact that we are moving from a density to a form based zoning code which promotes walk-ability, transit, and mixed-use activities, is a very big step for the city of Miami.

    Port of Miami – Dredging to 50 feet

    Miami is often referred to as the “Cargo Gateway of the Americas” and “Cruise Capital of the World”. In three years, or August 2014, the Panama Canal will be able to accommodate ships that are significantly larger than today’s vessels. These so-called “Panamax” ships will require deep harbors of at least 50 feet to dock and handle their cargo.

    The Port of Miami plans to be one of only three U.S. seaports on the eastern seaboard that can handle the post-Panamax cargo ships. The Florida Department of Transportation has been directed by Governor Scott to loan the Port of Miami $77 million for the deep dredging project. Along with the Port of Miami Tunnel Project and the U.S. Department of Transportation’s $22.7 million grant to restore rail service between the Port and the Florida East Coast Rail Yard, the deep dredge project is a major investment in the future of the entire South Florida region.

    Miami International Airport (MIA) – Setting New Records

    Miami International Airport is one of the busiest airports in the world and served 35.7 million passengers in 2010. During the first quarter of this year, MIA served a record 9.3 million passengers which is a 6.1 percent increase over the same period last year. Not only did we set a new milestone in passenger traffic in 2010, but MIA also experienced a 20 percent increase in total international cargo to 1,785,862 tons, plus a 5 percent increase in domestic cargo as well.

    Since adopting a master plan for the capital improvement of MIA, the City and County has invested over $6 billion to significantly expand and upgrade the terminals, expand the airfield to four runaways, new taxiways and taxi lanes, two new fire stations, seventeen new cargo buildings, sub-surface utility infrastructure, a new South Terminal, the MIA Rental Car Center / MIA Mover, and expanded connections to surrounding highways.

    South Florida Global Trade – Over $100bn in 2011

    According to Tony Ojeda, the executive director of the Miami-Dade Office of Economic Development and International Trade, a total of $95.3 billion in imports and exports moved through the Miami Customs district last year. This represents a 20.9 percent increase over 2009 and is expected to exceed $100 billion in  2011.

    Several companies have recently announced that they will be expanding in the region. For example, AeroPost International Services, announced that they will be moving from their existing 37,800 SF warehouse in Doral to a 176,348 SF warehouse in the Blue Lagoon area just south of MIA. According to WorldCity, Brazil ranked as the Miami Customs district’s number one trading partner at $13.4 billion last year, and was followed by Colombia at $6.8 billion and Switzerland at $5.4 billion.

    Miami Population – Positive Growth

    According to the U.S. Census Bureau 2010 report, over the past decade Florida’s population increased by over 2.8 million, or 17.6 percent, to 18.8 million. The South Florida region of Miami-Dade, Palm Beach and Broward Counties, increased to over 5.5 million residents, of which approximately 2.5 million reside in Miami-Dade County.  During the same period, Miami-Dade County experienced a 10.8 percent increase from approximately 2.25 to 2.5 million.

    There are a few demographic shifts within Miami-Dade County that are mostly representative of the condo boom over the past decade. For example, Aventura’s population increased  by 41 percent to 35,762 residents; Key Biscayne increased by 17.5 percent to 12,344 residents; Sunny Isles Beach increased by 36 percent to 20,832 residents; and the City of Miami increased 10.2 percent to 399,457 residents.

    International Visitation and Spending

    According to data provided by the Greater Miami Convention Visitors Bureau, Miami has experienced a significant increase in passenger arrivals through Miami International Airport and the Port of Miami over the past decade. In fact, in 2010 we experienced a higher number of arrivals than at the peak in 2008 at both ports of entry. The top five domestic markets of origin were New York, Philadelphia, Chicago, Boston and Atlanta. The top five international markets of origin were Canada, Brazil, Argentina, Colombia and Germany.

    The average room rate for hotels etched up to $144.13, or 2.8 percent, in 2010 over 2009. In addition, the average hotel occupancy rate increased by 7.9 percent during the same period. Through March this year, we have also experienced an increase in hotel occupancy of 2.9 percent. In 2010, Miami ranked fourth in the nation behind New York, Oahu Island and San Francisco, in terms of hotel occupancy. In terms of visitor spending, while Miami experienced a jump in collection of Food and Beverage Taxes and Resort Taxes in 2010 versus 2009, we still remain at a level slightly below that of 2008.

    Brickell CitiCentre – a Mega Mall in Downtown Miami

    Swire Properties Inc., a multinational development company and developer of 5.9 million square feet residential, office and hotel properties in Miami, recently announced plans to develop Brickell CitiCentre. The developer has acquired a site that consists of 247,000 square feet and plans to develop a 4.6 million square foot “mega mall” near the Miami River and Mary Brickell Village.

    The project will consist of five high rise towers that will offer a variety of mixed uses including retail, office, residential (apartments or condo) and hotel. As a proven developer in Miami with several successful developments already under their belt, including Jade Residences and Mandarin Oriental hotel, this is a very positive announcement for the future of downtown Miami.

    According to local news sources, the four year development project will provide up to 1,700 construction jobs as well as 4,000 permanent jobs and $15 million in annual tax revenues. Additionally, this project is slated to be the largest single private works project in the U.S. over the next few years.

    Latin America – an Emerging Consumer Class

    Since the 1980′s, Miami has been considered a safe haven and highly desirable city for Latin America and Central America’s wealthy. While we experience an ebb and flow of flight capital from these countries, the flow has been particularly evident over the past two years.

    In study completed by Prudential Real Estate Investors in late 2010, they predict that “the consumer class in emerging markets is set to grow rapidly in size and economic significance over the next decade.” In fact, approximately “two-thirds will come from the six largest emerging market economies: China, Brazil, India, Mexico, Russia and Turkey.”

    This dramatic increase in purchasing power of the consumer class within these countries, and others, including Colombia, Chile, Argentina and Ecuador, will have a continued positive effect on the Miami economy.

    Miami – a Bright Future

    Clearly we are facing several head winds in Miami. A shadow inventory of foreclosures, unemployment, excessive debt, mortgage and medicare fraud, to name a few. It may take us years to see a complete rebound in the greater Miami metropolitan area housing market. However, there are pockets within Miami and Miami Beach that one can argue have already turned around. Additionally, the long term economic fundamentals look very positive for our City.

    Are you looking for a Miami or Miami Beach property at a deep discount? Are you looking for a discounted short sale or bank owned property? Ross Milroy of Miami Angel Properties, LLC may be reached at 305-673-5300 or info@miamiangelproperties.com.

    Copyright © Miami Angel Properties, LLC

  • Emerging consumer class is buying Miami real estate

    Posted Under: General Area in Miami, Market Conditions in Miami, Home Buying in Miami  |  January 12, 2011 5:48 PM  |  3,052 views  |  No comments

    Miami has a history of excess, hype and inflated egos. The majority of Americans are struggling to make mortgage payments, facing unemployment or gross underemployment, and households continue to save and pay down debt. However, in Miami real estate developers are talking of “selling out” and looking for new opportunities.

    So what is driving this confidence? The answer is quite simply that the growing consumer class throughout Latin America continues to aggressively buy Miami real estate.

    The economies of Brazil, Peru, Chile, Argentina, Colombia, Ecuador, Venezuela and Mexico have a rapidly emerging middle class with considerable spending power and a growing appetite for real estate, luxury goods, cars, and other consumer goods. According to a study published by Prudential Real Estate Advisors in November 2010, many of these countries are expected to achieve a nominal US$ GDP compound growth rate ranging anywhere from 6.5% in Mexico to 10.3%  in Colombia over the next twenty years. As such, the per capita GDP of the consumer class is expected to grow substantially as is their discretionary spending power.

    With Miami as the main U.S. trading hub for Latin America, we have historically benefited from these international trading relationships and subsequent inflow of investment dollars into our local economy. Following the collapse of the Miami condo market in the late 1980′s, the affluent second or investment home buyer from Latin America picked up the pieces and helped our market rebound and stabilize.

    This time around, with substantially more investment capital spending power, these same buyers are buying up distressed condos and unsold new construction units from developers. Additionally, we are not only benefiting from investment capital from Latin America, but also from other countries such as China, Canada and Israel as well.

    In 2008, we suffered from a major confidence issue and considerable economic uncertainty. The majority of real estate investors would only pull the trigger on severely discounted entry-level properties. The following year, more buyers trickled in and the resale market picked up to the point that we managed to come off the life support of the U.S. Government.

    However, last year the competition to purchase attractive foreclosure properties intensified to unprecedented levels, and real estate developers and construction lenders finally re-priced their product to clear their unsold condo inventory. As such, buyers are no longer hesitant to purchase luxury homes and condominiums in downtown Miami or Miami Beach.

    We can only hope that this positive momentum stays on course and that the overall local and national economy continues to improve. If you remain pessimistic, then I invite you to visit any of the developer sales offices at the Icon Brickell, 900 Biscayne or the Marquis, to name a few examples. You will not believe the volume of buyer traffic coming through these buildings each day when just two years ago they were completely deserted.

    Miami is a unique market is so many ways and it is often misunderstood due to the huge amount of investment and flight capital coming in from these emerging economies. Yes, we have a huge shadow inventory of distressed real estate that needs to clear the market. However, since late 2009, we have experienced month-after-month of increases in resale activity, and the unsold developer units in quality buildings with good locations are selling out.

    Are you looking for a Miami or Miami Beach property at a deep discount? Are you looking for a discounted new construction condo or bank owned property? Ross Milroy of Miami Angel Properties, LLC may be reached at 305-673-5300 or info@miamiangelproperties.com.

    Copyright © Miami Angel Properties, LLC

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