I would expect prices generally to continue to decline over the summer months, though some "prime buildings" are holding or even going up. It really depends, more than ever, what you are looking to purchase
With regard to obtaining a mortgage, you could start in Canada or do it here. You may feel most comfortable talking to a mortgage rep in Miami and Canada. It will benefit you greatly to have a head start on the mortgage process.... more
Both scenarios are in line with common practice. Usually, the commission is paid on the first years lease and rarely does the agency send an invoice for the subsequent leases. It is standard practice that the commission is recurring.... more
I'm good huh! That building was in the midst of a conversion when Hurricane Wilma hit. The price range of the units at Grandview Palace are extremely quiet. There is more activity in the higher end. I think that condo conversions in general tend to be less desirable in the re-sale market. Since many of the windows blew out, the building's reputation was damaged.... more
Considering that that is what I do, I think the high-end condo market is very stable. The activity has tapered off, but it is still strong and shows no signs of problems. The reason for this is there is no more land to build on Miami Beach and though inventory has increased more people are considering Miami Beach a "secure" investment.
In a weary market, prime locations and properties are the last to go down and the first to come up.... more
There is only ONE Miami Beach, and only ONE South Beach! Miami Beach attracts, and will continue to attract, year 'round residents, seasonal residents, investors, and speculators from three continents: North America, South America, and Europe. Thanks to many new-construction projects, there is more inventory to choose from, but the demand remains heavy.... more