Law Office of Kimberly A. Abrams & Associates, P.A.

Residential Real Estate Archives

Looking at the affordability of South Florida real estate

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."

No end in sight for South Florida residential development

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.

What's behind the allure of South Florida real estate?

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?

Latest data shows continued strength in South Florida 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.

Residential development continues unfazed in South Florida

Real estate in South Florida is a hot commodity, in no small part evidenced by the ever-present residential development throughout the local area. Many of our readers have probably seen for themselves the rising condo towers that seemingly get nearer and nearer to completion every day. The sheer amount of condo units to be constructed, however, may shock anyone interested in residential property in South Florida.

Will South Florida home prices be reined in this year?

Most of our readers know that 2013 was a heck of a year for residential real estate in South Florida. Dozens of condo towers are under construction throughout Broward County, Palm Beach County and Miami-Dade County, the sales prices for single-family homes continued to rise almost non-stop throughout the year and many sellers even saw bidding wars for the most desirable properties. It would be hard to blame anyone who expects more of the same in 2014. However, a recent article suggested that some figures may see slower growth in the new year.

South Florida draws both foreign and domestic buyers

Some of our readers may have heard by now that the resurgence of the residential real estate market in South Florida has been helped a great deal by foreign investors. It's not difficult to see why someone would be interested in investing in residential property in the local area, with the warm weather and engaging cultural scene. However, a recent report has indicated that U.S. residents are also buying heavily in the South Florida market, particularly in Miami-Dade County.

More homes could be sold in Florida in 2014

The world of residential real estate is changing rapidly in Florida and around the country. Since the housing bubble burst in 2008, many homeowners have been in a difficult situation. Many have been unable to sell their homes as they fight to make their mortgage payments. Floridians struggled with sinking home values, decreased interest from buyers and a larger number of houses on the market.

Inventory drops despite residential development

Many South Florida residents wade into the residential real estate market very carefully, ever mindful of the wide variety of complications that could pop up, from title issues, lack of disclosure and negotiating contract terms. But, one thing is clear: these issues are not stopping buyers from doing their best with what is available in the local real estate market.

More good news - and bad news? - for South Florida market

By now our South Florida readers are used to seeing a constant stream of good news about the local residential real estate market. It probably seems like it has been months since anyone had anything negative to say about residential property in South Florida. That could be changing, however, as a recent report indicated that the data from the month of October showed a bit of a slowdown in some areas.

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