When most South Florida residents think about purchasing a home, they do so from the standpoint that the new home will be their primary residence. After all, there aren't many people who can afford a second home these days - or are there?
When South Florida residents are getting ready to become part of their first residential real estate transaction, they are probably vaguely aware of one aspect of the deal that will pop up eventually: the title. The average person knows that this is an important part of any transaction involving residential property, and they are also usually aware that this is one of the more legalistic aspects of such a transaction. As a result, most buyers will get help in conducting a thorough investigation of any potential title issues from someone who knows what to look for and where to look.
The residential real estate market in South Florida has been thriving for the last couple of years. Residential property is being developed throughout the local market, with several different condo towers under construction. However, in the last few months our readers may have begun to hear whispers of concern. Some people who monitor the real estate market are beginning to believe that the condo market in particular may have already peaked.
Most of our readers probably consider the condo towers that are popping up all over South Florida to be a common sight by now. The local residential real estate market has recovered much better here than it has in other areas of the country over the last few years. However, according to a recent report, there may be problems on the horizon.
The summer real estate shopping season is well underway as weather conditions improve throughout the country. But, in South Florida, the shopping season never stops. The residential real estate market may see more attention in some months more than others, but the weather rarely plays any particular impact on the local market. In the local market, pushing a deal through all the way to the real estate closing can happen at any time of the year.
Just about every transfer of commercial property and residential property culminates in one event: the real estate closing. In most commercial real estate transactions a great deal of work has already been completed prior to the closing, so there often is much less stress on the individuals who come to the meeting. However, for those South Florida residents who are purchasing residential real estate, getting to the real estate closing can be both exciting and nerve-wracking.
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.
Anyone who is thinking about entering into a real estate transaction, either as a buyer or a seller, has quite a few things to think about and plan for. However, of all the potential issues that could pop up when residential property is up for sale, one issue is something that most people don't ever think about: zoning laws.
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.