Miami shows no signs of a market crash. Here’s what experts say to expect instead.
1. The market will hold strong.
Home sales prices could take a hit if mortgage rates were to continue surging, but that doesn’t seem to be the case, forecasts Ines Hegedus-Garcia, executive VP of Avanti Way Realty.
“This sustained decline [in mortgage rates] will help revive homebuying and we should see a more robust market for home sales in 2023,” she says.
2. …
by Riccardo Ravasini 
Residential market
The monthly contract activity stood at 599 in December, down 46.4% compared to last year and down 9.1% from the 788 historical average for the month. The supply, which is the number of units on the market, stands at 5,860, up almost 2% from a year ago. While the number of pending sales, which is the number of units that are currently in contract, stands at 2,282; this value is 41.6% lower than a year ago. The Median …
by Riccardo Ravasini 
New York’s bid to award up to three licenses for full-fledged casinos, which would allow live table games and create more tax revenue for the state, advanced after officials unanimously voted to formally solicit applications, with an asking price of $500 million for each license.
The board will review each application and consider several factors, including how many jobs a prospective operator plans to create, how much revenue a casino expects to bring in, and a commitment to contract with …
by Riccardo Ravasini 
Looking to capitalize on South Florida’s booming waterfront mansion market, sellers of vacant waterfront lots in Miami and Miami Beach are listing their properties for prices that appear to bend reality.
Sellers have been told that so many wealthy people are moving from California, Chicago and New York, big CEOs looking for properties like the billionaire Ken Griffin, who paid $106.9 million for a 4-acre Coconut Grove waterfront estate this summer.
But thanks to rising construction costs and timelines dampening …
by Riccardo Ravasini 
Miami-Dade County’s condo sales volume fell last week, while the average sale price rose.
Condo sales totaled $97.7 million, lower than the $119.8 million in sales from the previous week. The average sale price continued to climb, as it has for several weeks, reaching $913,000. That compares with $754,000 the week prior.
Prices for the top 10 sales ranged from $1.5 million to $21 million, compared with $1.8 million to $9.4 million the previous week.
The Four Seasons Residences at …
by Riccardo Ravasini 
Tipping the staff during the holidays is a custom, not a requirement, but you’ll be in the minority if you don’t do it.
The precise amount depends on the size of your building (the larger the staff, the smaller the individual tips), quality of service, staff seniority, length of time you’ve lived there, whether you own or rent (more on that below), personal chemistry, your financial circumstances, and whether you’re frugal, generous, or somewhere in between.
Here’s a general average framework, for you to use as you see fit:
Super, …
by Riccardo Ravasini