Our South Florida readers have probably seen previous posts here that noted the exploding number of condo towers that are popping up everywhere. A recent report, however, noted a firm estimate on the actual number: over 80 condo towers east of I-95 throughout Miami-Dade County, Palm Beach County and Broward County.
Most investors who are interested in land development or residential development will have contact with a city planning department at some point. These types of departments, which exist in just about every city in the country, are primarily concerned with zoning laws and ensuring that land within the city limits is being used in the best way possible.
Previous posts here have addressed concerns over whether or not the South Florida real estate market is entering the dreaded "bubble" territory, similar to what caused a great many headaches about eight years ago. Some have seen the rapid increase in the amount of residential development in the local area as a concern because it is starting to match the rate of increase seen in the previous bubble. However, according to a recent article, the past is no predictor of the future when it comes to residential real estate.
After a few previous posts here have noted a couple of reports that may indicate a bit of a cool-down in the South Florida real estate market, a new report seems to point to a market that is surging in the recovery from the downturn of 2007. According to the report, residential development in the local market is booming, especially when it comes to condo construction.
Many of our South Florida readers probably take advantage of the fact that they live within minutes of some of the most beautiful beaches in the world. But is the proximity of the ocean going to cause a problem for residential property in the local area sooner rather than later? According to a recent report, the answer may just be "Yes."
As spring gets ready to give way to summer, there are all kinds of activities that begin to ramp up. Although South Florida usually has beautiful weather year-round, there is still a sense of seasonal change as local residents begin to take part in more summer activities, such as riding motorcycles, camping or just getting the boat out of storage and ready to hit the water. What's another activity that usually hits a high note in the summer? House hunting.
Homeownership is supposed to be a major part of the so-called "American Dream." Many of our South Florida readers are either getting ready to buy a home or might be interested in selling, and fortunately for both groups owning a home still has some major positive points for families and individuals in America. But is owning a home becoming a more income-restricted option in the local residential real estate market? According to a recent report, the answer to that question might be "yes."
Residential development - specifically condo development - has really begun to ramp in South Florida over the last year or so, and it appears as if there will be no slowing down. A recent report noted that over 200 new condo towers have been proposed throughout Palm Beach County, Broward County and Miami-Dade County. From these numbers, it is obvious that investors and builders see a hotspot and they want to strike while the resurgent residential real estate market is still on the upswing.
Most of our readers know that there is more to living in South Florida than sunny days and fun at the beach, and the strength of both the commercial real estate market and the residential real estate market reflect that fact. But some people may be wondering, what exactly is the driving force behind the local area's resurgent market?
Many of our South Florida readers are familiar with the Case-Shiller real estate index. The index, which has been referenced in previous posts here, tracks real estate values across a variety of metropolitan areas in America. Most of the monthly reports from this index that focus on the South Florida area have been full of good news for quite a while now. It appears that the positive trend is in no danger of ending any time soon.