South Florida On The Market

Miami remains one of the top destinations for Americans looking to move elsewhere, according to  a recent analysis from Redfin . The online home listing company compiled data from approximately 1 million users who searched for homes for sale on its platform in the first quarter of 2019. From these data, Redfin was able to deduce where prospective homebuyers were looking to move to. In its analysis, Redfin ranked Miami the fifth-most-searched city among users located outside of the metro area itself. Miami recorded a net inflow of 4,400 Redfin users from somewhere other than Miami, up from about 3,000 at the same time last year. More than 28 percent of searches for Miami home listings were conducted by non-local users, with New York City being the primary location of those users. For comparison, Phoenix posted the highest net outflow number, with almost 8,000 users from outside the Phoenix area looking for homes on Redfin. But another Florida hotspot for domestic migrants — Tampa

When looking for the Miami-area neighborhoods of tomorrow, the signs are there—if you know what to watch for. Watch for the new Starbucks or Whole Foods. The new yoga studio or SoulCycle. A juice bar. For potential homeowners and investors searching for a neighborhood on the way up, these are the telltale clues. Interior designer Christopher Coleman of the Sanchez Coleman Studio is always on the lookout for promising neighborhoods. “I love old gas stations or small cottages or abandoned buildings that I think I can transform,” he says. Coleman envisions turning such spaces into restaurants or concept stores, and when he sees these venues appearing, he knows the neighborhood is prime for gentrification. Brian Rokicki, a realtor associate with Darin Tansey’s group, Douglas Elliman Real Estate, was quick to spot the transformation happening in Sunset Harbour, with its now-established foodie-and-fitness lifestyle. Keep an eye out for small or large parcels of land being

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 of 582 over the last five years 36% of UHNWIs al

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 grew at an annual ra

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