Miami lux market

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Miami lux market

With Miami more than a year deep into a housing market slowdown, many brokers are urging luxury homeowners to drop prices. As reported by The Real Deal, October was Miami’s worst month for luxe home sales since 2011 as only 94 houses and condos priced above $1 million sold that month, marking a drop-off of more than a third from the 145 sold in 2015.
The market is still contending with an inventory of 4,100 luxury homes listed for sale ...

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Arnold Schwarzenegger, a savvy real estate investor?

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Arnold Schwarzenegger, a savvy real estate investor?

Before Arnold Schwarzenegger catapulted into Hollywood stardom, he was making a good living in the late 1970’s with $100,000 he invested in real estate.
As quoted in a new book by Tim Ferriss: “I did not rely on my movie career to make a living. I realized in the 1970s that the inflation rate was very high and therefore an investment like that is unbeatable. I benefitted from a [magic decade] and I became a millionaire from my real estate ...

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Miami ranks fourth for Asian investment among U.S. markets

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Miami ranks fourth for Asian investment among U.S. markets

A report from commercial brokerage CBRE reveals more than half a billion dollars worth of Asian cash flowed into Miami real estate during the first six months of 2016, making it the country’s fourth most popular destination for investments from across the Pacific. Asian investors spent $665 million on real estate in Miami during the first half of this year, marking a massive jump in volume from the $34 million during the same time period in 2015.
The flow of ...

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Trouble looms ahead for Miami condo market

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Condo market in Miami appears to be in trouble — in other words, “in the early stages of a distressed preconstruction condo market,” according to StatFunding Founder Andrew Stearns, as inventory soars and is expected to increase by 417% over the next two years!
More specifically, over the last three years, inventory has increased from about 8,000 units to over 14,000 units, and transaction volume is down about 30% year over year. And in the next two years, there are ...

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NYC: the state of the market

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Throwback to 2009?

Do you remember the real estate market in 2009? Let me refresh your memory… landlords and condo developers were dangling a month or two of free rent; sellers were offering paid attorneys’ fees to interested buyers and everyone was experiencing falling prices.

While we aren’t close to the 2009 scenario, the market has started to turn in different segments of New York’s residential market after five+ years of increasing real estate values. And in some cases, it’s the buyers ...

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Condo pipeline under pressure?

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The pipeline of Manhattan condo units has grown steadily for the past three years since bottoming out at 12,602 units in the third quarter of 2013. But after a three-year climb, the number of condo units proposed, under construction and on the market has plateaued, according to a new analysis by The Real Deal. And the existing pool of condos could shrink even more as the tighter financing market weeds out projects deemed to be too risky in the current ...

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