South Florida On The Market

What are the trends shaping the decisions of the world’s wealthy? Where are the best performing luxury real estate markets? And where should you keep an eye fixed for growth? The Wealth Report, now in its 13th year, addresses these questions and more by tracking the world’s wealthiest people to determine how their behaviors influence markets, from real estate to art to whiskey, around the globe. Below we have gathered some of the stand out facts from this year’s Report. Click here to download the full 2019 Wealth Report.  Global Wealth Trends 1) In 2019, the number of  millionaires worldwide  will exceed 20 million for the first time ever. 2)  New York leads all cities  with 94 billionaires. London is a close second. 3) There are  200,000 UHNWIs  (ultra-high net-worth individuals with   $30M+ in net worth) worldwide, following 4% growth in 2018. 4)  London  has the world’s largest UHNWI population with 4,944, an increase...

In a strong sign for the local housing market and economy,  new data from the U.S. Department of Labor  showed Florida added the most employees of any state in February, the latest month for which state-level data were available. Businesses in Florida added 25,200 jobs to state payrolls in February, growing its total workforce by 2.4 percent above year-ago levels. That helped nudge the unemployment rate to  3.3 percent in the Miami metro area  and 3.5 percent statewide. Low local unemployment and strong job growth are among the best indicators of a strong economy as well as the fuel for housing market expansion. Across all 50 states, job growth averaged just 1.7 percent. In the construction sector specifically, Florida was among the minority of states where employment figures increased in February. Builders in the state grew payrolls by 4.2 percent in February, well above the U.S. average of 3.1 percent. In the Miami metro area alone, construction employment g...

Question : The tub in my condo flooded and my kitchen and the public hallway were damaged. I do not have insurance. My association wants me to pay for the repairs. Do I have to? – Alina Question : I replaced the shutters on my condo with impact windows. Am I responsible for fixing the holes on the exterior? – Trish Answer : If your actions cause damage to another person or business, you are responsible. While your condominium association is responsible for repairing and maintaining the common areas, it is allowed to seek reimbursement if someone purposefully or negligently caused the damage. This idea does not just apply to condos; it is consistent throughout the law. If you drive over your neighbor's mailbox, leave your tools out and someone trips, or are texting and bump into another car, you can be held responsible and be asked to pay for the damage you caused. If you purposefully caused the damage, like the reader leaving holes in the exte...

South Florida On The Market: 2019 Wealth Report : Predicting what the next 12 months have in store for our clients and customers has proved to be an interesting process. The multitude of g...

Predicting what the next 12 months have in store for our clients and customers has proved to be an interesting process. The multitude of global, political and economic issues addressed on this page a year ago, continue unresolved and have become increasingly more complex. Nevertheless, we remain optimistic about the year ahead. While there may be challenges, there will also be considerable opportunities as markets shift. In this year’s edition of The Wealth Report we highlight residential and commercial markets across the world that offer opportunities and options for those looking to invest in property. Visit here for more info:  2019 Wealth Report

Plenty of people find themselves buying and selling a home simultaneously, but knowing that others have gone through the same stress does not make it one bit easier. After all, the stakes are so high: If your buyer backs out, you don't have any cash to land your next home! Or if your own purchase falls through but your current home sells, you're homeless! It's all like walking across the Grand Canyon on a tightrope: The tiniest thing goes wrong, and you fall. Breathe in. Don't panic. It turns out that most buying-and-selling mistakes are easily avoidable—or at least predictable. Follow these eight tips to enter escrow with eyes wide open. 1. Waiting too long to prep your home for selling Every home needs a little work before selling. You might need to repaint some scratched walls, fix broken decking, or add grout in a rarely used bathroom. Don't wait until the last minute to kick-start this process, otherwise you could wind up in a bind...

Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.  Overall price trend indicators and the number of sales continued to rise year over year in Miami Coastal Mainland. Full report:  https://www.elliman.com/pdf/807608cfc8f700da5d3e8803efdbfd04d18a7e21