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Miami shows no signs of a market crash. Here’s what experts say to expect instead.
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.
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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 ...
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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 ...
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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 ...
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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.
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DEC
2022
From the outside, Miami might seem like a city of sex-crazed partiers looking for superficial connections. But most of us are softies searching for true romance…and someone to split rent and utilities!
OK Cupid surveyed 2 million daters asking whether they were more interested in love or sex, and found that the majority of respondents in Miami chose love (73%).
Funny thing, 87% of respondents said they’d want to split the rent! A natural choice, as a one-bedroom costing $2,500, splitting that 50/50 with your lover would save about $1,250 each ...
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