888 Biscayne Blvd 3801 Miami FL 33132

Beautiful 2/2 apartment at the 38th floor. Spectacular views of Biscayne Bay, Key Biscayne and downtown Miami. Tiles floor, W/D in the unit, very spacious and bright. 1 parking space, storage cage and cable tv. Located in the heart of downtown Miami directly across from the Arena and few steps from Bayside. 5-star building with […] The post 888 Biscayne Blvd 3801 Miami FL 33132 appeared first on Miami Emlak Ofisi - Miamide satilik evler ve is yerleri.
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Miami Beach real estate market

 

The Miami Beach real estate market is known for its high-end luxury properties and is considered one of the most desirable places to live in South Florida. The market has seen steady growth in recent years, driven by factors such as the city's growing popularity as a tourist destination, a strong economy, and low-interest rates.

Condominiums and single-family homes are the most popular types of properties in Miami Beach, with a range of prices depending on location, size, and amenities. The average price for a single-family home in Miami Beach is around $2 million, while the average price for a condominium is around $1.000,000.

Investing in Miami Beach real estate can be attractive due to the strong demand for rental properties and the potential for capital appreciation. However, like any real estate market, it can also be subject to fluctuations and it is important to consider factors such as zoning laws, property taxes, and insurance costs before making an investment.

It is recommended to work with a local real estate agent or attorney who is familiar with the Miami Beach market and can help guide you through the buying process.

Aventura Real Estate Market

The real estate market in Aventura, Florida is strong, with a high demand for both residential and commercial properties. Aventura is a city located in northeastern Miami-Dade County, known for its upscale shopping centers and beautiful beaches. In 2021, the median home value in Aventura was $412,000, a significant increase from previous years. The market has been affected by the COVID-19 pandemic, but it remains a popular and attractive place to live and invest. Factors contributing to the market's strength include Aventura's strong economy, diverse culture, and attractive climate.

Sunny Isles Beach Real Estate

Sunny Isles Beach is a city located on a barrier island in the northeastern part of Miami-Dade County, Florida. The city is known for its beautiful beaches and high-rise condominium buildings, many of which offer luxurious amenities and ocean views. The real estate market in Sunny Isles Beach is strong, with a high demand for both residential and vacation properties. The median home value in the city was $393,800 in 2021, a significant increase from previous years. The market has been affected by the COVID-19 pandemic, but it remains a popular and attractive place to live and invest.

Miami Real Estate Market

The real estate market in Miami has been on the rise in recent years, with strong demand for both residential and commercial properties. In 2021, the median home value in Miami was $356,600, a significant increase from previous years. The city's strong economy, diverse culture, and attractive climate have all contributed to its popularity as a place to live and do business. However, the market has also been affected by the COVID-19 pandemic, with some disruptions to the buying and selling process. Overall, the real estate market in Miami remains a dynamic and attractive place for investment.

Bentley Residences Sunny Isles Beach

Rising Mortgage Rates Could 'Supercharge' Spring Homebuying Season

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The fear of missing out on low mortgage rates could “supercharge” the housing market ahead of the spring homebuying season, but not necessarily in markets where inventory is scarce.

That’s according to Mark Fleming, chief economist for First American Financial Corp., in an analysis gauging the potential impact of rising home prices and mortgage rates on homebuyer demand.

First American’s latest Real House Price Index shows affordability was down 21 percent in November from a year ago, with 21.5 percent home price appreciation and a 30-basis point bump in mortgage rates outweighing 4.4 percent income growth.

“Affordability is likely to decline further in 2022, because both mortgage rates and nominal house prices are expected to rise,” Fleming said in a Monday blog post.

Mark Fleming

“While rates are expected to increase steadily throughout 2022, many potential home buyers may try to jump into the market now before rates rise further,” Fleming said. “The fear of missing out on low rates, or ‘FOMO,’ and the potential loss of house-buying power may supercharge the housing market ahead of the spring home-buying season.”

But housing supply “tends to increase in the spring months as more sellers list their homes for sale,” he cautioned. “While home buyers may have FOMO because of rising rates, they may not want to succumb to the fear of better options … because there may be a better home option or options when there’s more homes for sale, even if it means they may pay more.”

How interest rates impact homebuying power

If mortgage rates rise to 4 percent, a homebuyer who could qualify to buy a $475,180 home in November will only be able to afford a $423,262 home. Source: First American data and analytics.

First American’s analysis of the potential impact of rising rates shows house buying power would fall by $36,000 from November if mortgage rates are at 3.7 percent when the spring home-buying season kicks off, and by $52,000 if they hit 4.0 percent.

While forecasters hadn’t expected to see rates at that level until later this year or next, rates have been headed up sharply as investors reconsider how aggressive the Federal Reserve will be in fighting inflation. Minutes from the Fed’s December meeting revealed policymakers are contemplating shrinking the Fed’s record balance sheet. The Optimal Blue Mortgage Market Indices show rates on 30-year fixed-rate conforming mortgages hit 3.78 percent on Jan. 18.

But inflation is also boosting many families’ incomes, and Fleming says rising household income could offset all or part of the impact rising mortgage rates have on housing affordability. If household income keeps increasing as rapidly as it did in November — approximately 0.6 percent — through the end of 2022, the decrease in homebuying power with mortgage rates at 3.7 percent would be $700, instead of $36,000, Fleming said.

Of course, if home prices keep going up, homebuyers could still find themselves being priced out of homes they could have afforded if they’d gotten off the fence.

In their latest forecast, Fannie Mae economists project home price appreciation will decelerate this year, but that worsening affordability will dent sales 2022 sales of existing homes by 3.2 percent.

The National Association of Realtors estimates that 2021 existing home sales were up 8.5 percent, totaling 6.12 million. But December sales were down 4.6 percent from November, and 7.1 percent from a year ago.

Much depends on how much inventory hits the market this spring, with Zillow reporting that active home inventory dropped below 1 million in December, a nearly 41 percent decline from two years ago and the lowest ever tracked by the popular property portal.

Get Inman’s Extra Credit Newsletter delivered right to your inbox. A weekly roundup of all the biggest news in the world of mortgages and closings delivered every Wednesday. Click here to subscribe.

Email Matt Carter

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Last Summer's Breakneck Pace of Home-Price Growth May Finally Ease

 

The numbers: The S&P CoreLogic Case-Shiller 20-city price index posted a 18.3% year-over-year gain in November, down slightly from 18.5% the previous month. On a monthly basis, the index increased 0.9% between October and November.

Meanwhile, the Case-Shiller national home price index demonstrated 18.8% growth between 2020 and 2021 in November, also down from the prior month.

The Federal Housing Finance Agency released its own house price index, which demonstrated that prices rose 17.5% on an annual basis in November.

“House price levels remained elevated in November, but the data indicate a pivot,” Will Doerner, supervisory economist in the FHFA’s division of research and statistics, said in the report.

“The last four months reflect average gains of 1 percentage point, down from the larger prior changes during the spring and summer months,” he added. “This new trend is a welcome shift but still twice the monthly average we have seen in the last 20 years, which echoes concerns about access and affordability in housing markets.”

Key details: Once again, Phoenix recorded the highest rate of home-price growth in the country in November, with a 32.2% year-over-year increase. Two Florida cities closely followed: Tampa with a 29% uptick and Miami with a 26.6% gain.

Overall, the Case-Shiller index noted that price increases were larger in November than in October for 11 of the 20 major cities that are studied each month.

Regionally, the FHFA index found that the highest rate of home-price growth over the past year has occurred in the Census Bureau’s mountain division, which includes states like Colorado, Idaho and Arizona.

So long as mortgage rates don’t price out too many buyers, demand for the few homes that are on the market should stay strong, which will continue to push home prices higher.

The big picture: Americans aren’t likely to see home-price growth hit the levels seen last summer, but that doesn’t mean prices are dropping. Mortgage rates are on a steady upward climb as of late, which will take some wind out of the housing market’s sales.

But the primary factor behind the fast pace of home-price appreciation over the past couple years—the short supply of homes for sale—isn’t likely to change anytime soon. So long as mortgage rates don’t price out too many buyers, demand for the few homes that are on the market should stay strong, which will continue to push home prices higher.

And in the most sought-after markets, such as Arizona and Florida, demand will remain outsized in this continued era of remote working. Many markets in these regions are poised for explosive growth in the near future—meaning home prices likely will continue to soar.

Looking ahead: “Despite edging mortgage rates and some seasonal moderation in the housing markets, the rate of home-price appreciation continues to track well above sustainable levels.

And given the economy’s strong wage growth, low supply and continued competition among millennials approaching home-buying age, demand pressures will continue to support home price acceleration, with home price indexes likely to continue hovering close to 20% in the coming months.,” said Selma Hepp, deputy chief economist at CoreLogic.

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