Apartment Rentals & Sales Miami FL

Big news for ARMiami - we have changed brokerage houses to AF Real Estate in a bid for greater exposure and increased service levels for our clients.  We expect great things in 2012 with our new team and over the next few months you will see changes at ARMiami including more sales/purchasing focus as the market heats back up.  We will continue with our strong rental background both in tenant services and owner listings and look forward to working with our clients in all areas of real estate.  Additionally ARMiami will be bringing in support for AF Real Estate to improve their web presence and marketing.  We see AF Real Estate adding great value as the pool of Realtors available expands allowing us to better service foreign nationals, add localities outside our direct specialization such as Coral Gables and Coconut Grove, and additional services.

Hello all, ARMiami is back to work for 2012 and boy, Miami has been busy! 

Condos Ios on the Bay and Paramount on the Bay have both been very hot with a large number of showings particularly during and post Art Basel, several new preconstruction projects have begun like MyBrickell, the Art & Space Museums’ construction well underway, and more - heck, have you seen the construction apparatus erected for the tunnel from Watson Island to the port?  The infrastructure surrounding Downtown and Brickell continues to grow as yet another Publix is being built on Biscayne and 18th.

Prices for rentals jumped 10-25% in 2011 and it certainly appears to be a continuing trend as rentals prices have begun to surpass the highs of 4-5 years ago.  Sales prices are almost entirely back to “retail” with very few short sale or REO properties on the market of any worth - those that are at all worthwhile last less than 24hrs on the MLS and have multiple offers.  In fact sales have been so good that record prices have been recorded recently on South Beach.

2011 has been a year of rising prices both for rentals & sales in Miami Dade - and the NY Times agrees.  In fact inventory is dipping so low that we are now seeing several preconstruction projects beginning!

Remember our Club at Brickell Bay listing last week?  Rented!  ARMiami’s simple tactic of advising our clients on units to purchase and how to best to renovate them combined with fair pricing is how we do it.

Happy 2011 to all!  This year promises to be a good one for everyone with our housing market inching upwards from its depths.  Many of the best, cash only, bargains have been bought & sold but there still remains a good inventory of units that are well priced.  Landlords will be happy to hear that inventory of rentals units is at a 3 year low and prices are trending upwards, and in some instances quite steeply making profitable investment purchases possible for the first time in nearly half a decade.

Miami Herald is reporting flat/positive sales in the Miami area, ARMiami is seeing a dearth of rentals, rising rental rates, and an increase/flattening of selling prices as well.

Active Miami-Dade Home-Sale Market Bucking National Trend

Strange how things work out, a visiting friend asked me about The Filling Station project on the 15th and the next day the Miami Herald had this article:

 A Failed Condo or a Plot to Save Millions?

You may also remember back in May when I posted that the cranes and other machinery were pulling out.  Interesting times in Miami!

The team at ARMiami wants to wish their star Realtor, Jamie Blumenfeld a happy 35th!

I’ve been telling anyone who has asked that the bottom is here, if not already past.  Several properties I work with regularly are seeing both sales AND rental prices inch back up - I think we are headed back up!

Seeing articles like this in the Miami Herald also help bolster confidence in the reading of the real estate climate as well.

If you are on the fence… get OFF IT!  You WILL miss the chance to buy at the bottom if you are still playing the “wait and see” game.

While I’d still like my inside source with the Miami Parks & Rec to confirm this article, it does appear that Museum Park will finally be happening and the renovation & cleaning up of Bicentennial Park on Biscayne Bay is due to occur over the next 5-6 months. 

I expect this to have a serious impact on the immediate neighborhood as this project should remove all of the homeless from the park on a permanent basis making it a welcome place for all instead of a dirty and scary place few want to visit.  Additionally the Bicentennial Park stop on the MetroMover should be able to be reopened which will help bring additional traffic to the area. 

I would expect property values at Marina Blue, 900 Biscayne Bay, Ten Museum Park (it’ll finally live up to its name!), and Marquis Condo Hotel to be positively affected by this development as well as the nearly complete project at the Omni Center where a new Publix grocery will be opening.