Agent2Agent in Miami>Question Details

Yanoska Diaz, Real Estate Pro in Miami, FL

In which of the following areas where condominiums are the predominant property type have you observed the greatest increase in values?

Asked by Yanoska Diaz, Miami, FL Wed Feb 20, 2013

Brickell? Central Miami? Kendall? Miami Beach? Other?

Most surprising in my experience, condos located in Central Miami/Airport specifically Blue Lagoon Condominium. Recent closed sales including REO reaching above $160,000, a good number of equal units sold in previous years for under $60,000.

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Leonardo da Motta’s answer
Dear Yanoska:
Hard to answer your question, however Brickell has made a huge come back, propelled by foreign buyers. For a detailed conversation and comparisons, please feel free to contact me. For your convenience, Yo hablo Espanol, falo Portugues.

Leonardo da Motta (Leo)
Broker Associate
First Service Realty/ Real Living Doral
Phone: 305-205-8912
1 vote Thank Flag Link Thu Feb 21, 2013
Hello Yanoska,

I feel that right now the agents/optimistic sellers are pushing the values beyond what is supported by the comps, yet, more buyers need financing.

I see a short inventory list, but properties just sitting there, until they come down in price.
We'll probably see lower price increases this year, in comparison to the last year.

Another question: How will the new construction effect low to mid luxury segment in older construction? I feel those values will actually stagnate or even go down...

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
1 vote Thank Flag Link Wed Feb 27, 2013
condos are up all over town, but those condos in downtown and near the water, have seen prices rise back to boom times.
1 vote Thank Flag Link Tue Feb 26, 2013
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