MIAMI-TOPYour Dream Property ! Propriétés de rêve à Miami et environs …

Miami was the life of the party during the housing boom, and now it’s got a major hangover - or make that overhang, the real estate term for how much inventory is sitting on the market and how long it’s going to take to move, given current sales levels. Miami has three years’ worth of overhang, say some experts - in other words, it’s a buyer’s market taken to the extreme.

Indeed, prices here are down 21.7% in a year, according to the S&P/Case Shiller home price index, while median condo prices fell 10% in December. Sales have nearly ground to a halt: Condo and single-family-home sales plunged 40% last year. There’s even a thriving subculture of lawyers who help panicked buyers break their preconstruction contracts. For attractive deals, look in the tony enclaves slightly to the north, like Aventura, Bal Harbour , and Sunny Isles Beach . Slightly farther inland but still close to the Miami center, Coral Gables is offering some good deals too.

But keep in mind that across the MacArthur Causeway, trendier Miami Beach still holds its cachet, especially for foreign buyers, whose exchange-rate-favored bank accounts can buy more and more by the day. As such, says market guru Guy Trusty of Lodging & Hospitality Realty, prime Miami Beach condos can fetch $1,000 per square foot, while in other parts of the city you can find new condos for $200 to $250 per square foot.

This article was published by CNN Money Fortune July 13, 2008

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Jane and Jean-Marie (John) Losson +1-305 924 0262
Esslinger-Wooten-Maxwell, Inc. Realtors, Inc.

Miami qui était au coeur de l’action durant le “boom” immobilier, souffre maintenant d’une sacrée gueule de bois. La raison? La taille de l’inventaire de biens actuellement sur le marché et le temps qu’il faudra pour résorber cet inventaire - si l’on considère le volume actuel des ventes. Certains experts disent que l’inventaire disponible à Miami correspondant à trois ans de vente.

En d’autres termes, l’acheteur est plus que roi!

En effet, les prix ont chuté de 21.7% par rapport à l’année passée - selon l’index S&P/Case Shiller - tandis que le prix moyen des appartements est tombé de 10% en décembre. Les ventes sont pratiquement au point mort. Les ventes d’appartements et de villas ont chuté de 40% par rapport à l’année passée. C’est a ce point que certains avocats se sont spécialisés dans la rupture de contrats “pre-construction” signés par des acheteurs maintenant pris de panique.

Pour de bonnes affaires, examinez les régions de Aventura, Bal Harbor, Sunny Isles Beach. Un peu plus loin, Coral Gables offre d’excellentes opportunités.

Mais n’oubliez cependant pas qu’une fois traversé le McArthur causeway, le très en vogue Miami Beach a gardé son cachet, tout spécialement auprès des acheteurs étrangers, favorisés par les cours de change et le faible $. Et ils ne se privent pas d’acheter.

D’après Guy Trusty of Lodging & Hospitality Realty un excellent appartement à Miami Beach peut se vendre autour de $1,000 du ft2 (soit approximativement €6300/m2) tandis que dans d’autres quartiers de la ville, de nouveaux appartements se vendent à $200…$250 / ft2 (€1250…€1550 / m2).

Traduction d’un article paru dans CNN Money Fortune July 13, 2008

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Jane et Jean-Marie Losson: +1-305 924 0232
Esslinger-Wooten-Maxwell, Inc. Realtors, Inc.

Bal Habour

A couple took a woman’s parking spot in the parking garage at the Shops of Bal Harbour, 9700 Collins Ave., and hit her with a Hermes Birkin bag after she confronted them at 1:30p.m. June 18.
The victim said she was about to turn her car into the parkingspot when a BMW cur her off and took the spot. When the victim approached the couple to explain she was about to take the spot, the woman hit her with her handbag across the face.
The couple then entered a store before quickly leaving in their BMW.

(From the Miami Herald, July 3rd 2008)

While searching for just the perfect condominium in Bal Harbour with our Monte Carlo clients we previewed five or six marvelous condominiums in the Kenilworth. Though built in 1975, it has a quietly elegant reception lobby which was newly refurbished, and fabulous condominums featuring high ceilings, spacious rooms, huge walk-in closets, opulent bathrooms, deep terraces with nice ocean and intracoastal views.
I think of it as the Bal Harbour equivalent of the pre-war buildings in Manhattan. Best of all, the prices are incredibly good, particularly when compared with newer and glitzier buildings in the same neighborhood. To us, newer it not necessarily better.

Visit our website: MIAMI-TOP
Jane and Jean-Marie (John) Losson +1-305 924 0262
Esslinger-Wooten-Maxwell, Inc. Realtors, Inc.