Highlights From the Profile of Home Buyers and Sellers

For most home buyers, the purchase of real estate is one of the largest financial transactions they will make. Buyers purchase a home not only for the desire to own a home of their own, but also because of changes in jobs, family situations, and the need for a smaller or larger living area. This annual survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers provides insight into detailed information about their experiences with this important transaction. Here are highlights from the latest report.

  • First-time buyers made up 33 percent of all home buyers, a decrease from last year’s 34 percent.
  • Sixty-three percent of recent buyers were married couples, 18 percent were single females, nine percent were single males, and eight percent were unmarried couples.
  • Twelve percent of home buyers purchased a multigenerational home, to take care of aging parents, because of children over the age of 18 moving back home, and for cost-saving.
  • Eighty-seven percent of buyers recently purchased their home through a real estate agent or broker.
  • Ninety percent of buyers would use their agent again or recommend their agent to others.

Source: National Association of Realtors (download highlights)

Florida logra un nuevo récord turístico al recibir 65,5 millones de visitantes

El estado de Florida registró en el primer semestre del año 65,5 millones de visitantes, una cifra récord que representa un aumento del 5,9 % respecto del mismo periodo de 2017, informó la oficina del gobernador del estado, Rick Scott.

Del total de visitantes que llegaron al «estado soleado» en el primer semestre, 58 millones fueron estadounidenses, 2,3 millones canadienses y 5,2 millones procedentes de otros países.

«La industria del turismo y toda nuestra economía continúa floreciendo», destacó Scott en un comunicado, quien recordó que ya en 2017 se alcanzó un récord con 118,5 millones de visitantes, «dos millones más de lo previamente calculado».

Estos logros «permiten a nuestra economía crear más empleos y aumenta nuestro éxito al haber creado casi 1,6 millones de empleos en el sector privado en siete años y medio», con una tasa de desempleo en Florida que es «la más baja en más de una década», agregó.

Fuente: Diario Las Americas

Colombia drives online international real estate searches in Miami

by MORGAN MEREDAY / Miami Agent Magazine

The MIAMI Association of Realtors announced its June 2018 list of international online searches for Miami homes on its portal,  MiamiRealtors.com.  

The report found that Colombia was the No. 1 contributor to the total number of international web searches for Miami listings, making up 12 percent of all international searches and securing the first place ranking for the seventh consecutive month.

Two Colombian cities led the list of top 10 international cities visiting MiamiRealtors.com, with Bogotá, Colombia in first place at 4.5 percent and Antioquia, Colombia in third place with 2.9 percent. In the following Miami Realtors list of the top 10 countries driving international demand in South Florida, Colombia ranked No.4, followed by Germany.  

“Miami is a welcoming city for people from all over the world and we see it in our monthly real estate search statistics,” said George C. Jalil, a Miami broker and the 2018 MIAMI chairman of the board. “South America is in love with Miami, but so is Pakistan, Spain and other countries.” 

In a list of markets for consumers, in June 2018 South Florida ranked as a top-five market in the world’s six largest regions. Further, South Florida was recognized as South America’s most-searched United States market, accounting for 26.73 percent of the total number of international page views.

Miami is getting its first Waldorf Astoria hotel — and it will change the city’s skyline

BY RENE RODRIGUEZ  THE MIAMI HERALD

A new skyscraper will radically change downtown Miami’s iconic skyline — and introduce the city to one of the most famous luxury hotel brands in the world.

The Waldorf Astoria Hotel and Residences Miami, to be located at 300 Biscayne Boulevard, will mark the debut of the Waldorf Astoria brand in Miami. The company, which is owned by Hilton Hotels, operates 30 properties worldwide, including two in Boca Raton, two in Key West and one in Orlando.

Designed by the Miami firm Sieger Suarez Architects, the skyscraper will resemble a pile of unevenly stacked glass cubes. The building is projected to reach 1,049 feet in height, making it one of the tallest in Florida. The current titleholder is the Panorama Tower in Brickell, which stands 868 feet tall.

The project is a joint venture between the New York-based Property Markets Group (PMG), Toronto’s Greybrook Realty Partners and the Miami-based S2 Development.

“We are thrilled to bring the rich history and heritage of this hotel brand to Miami,” said PMG principal Ryan Shear in a press release. “The city continues to thrive as a top global destination with increasing arts, culture, tourism, fashion and luxury brands. This partnership is a major milestone for Miami’s real estate and hospitality industries.”

The exact number of units and price ranges in the new building are still to be determined, but according to a Bloomberg report, the project will include 140 hotel rooms and 400 condos. Pre-sales on the project aren’t scheduled to begin until late 2019. Total sales are expected to be over $1 billion.

Developer unveils short-term rental condo project near Dolphin Mall

Buyers at Residences at Dolphin Citi Center will be able to rent their units out for a minimum of three nights

By Amanda Rabines | The Real Deal | September 17, 2018 

 

Rems Group Inc. just unveiled plans for Residences at Dolphin Citi Center, a Doral condo project set to rise between Dolphin Mall and International Mall.

Robert Lechter, a partner at Rems, said the 113-unit, eight-story condo building will allow short- and medium-term rentals with a minimum three-night stay requirement. The project is planned for a nearly 4-acre lot on the southwest corner of 108th Avenue and 17th Street. The developer spent about $6.2 million assembling the site between 2016 and 2017, Lechter said.

Rems Group expects to close on a roughly $30 million construction loan from CenterState Bank within six months, he said. It’s slated to open by the end of 2020.

Residences at Dolphin Citi Center was designed by architect Jenifer Briley and features units from 413-square-foot studios to 1,115-square-foot two-bedrooms. Amenities include a restaurant and outdoor pool, along with common areas and a gym on the second floor. The building will be connected to a three-level parking garage.

The developer began taking reservations about six weeks ago and has reserved about 20 percent of its units, according to Lechter. Prices start at $229,000 for studios and $300,000 for one-bedroom units.

Hallandale Beach-based Rems Group also owns the nearby showroom and warehouse complex called Dolphin Park Commerce Center I II and III.

New development in Doral includes Topgolf USA, which recently opened a three-story entertainment complex equipped with a driving range, restaurant and bar, nearby; CityPlace Doral and Downtown Doral.