Buying Pre-Construction or New Construction in Miami
(press release)Miami Real Estate – Buying Pre-Construction or New Construction in the Miami Real Estate Market.
Publish Date : 11/28/2004 3:10:00 PM Source : onlypunjab.com Team.
Miami real estate is undergoing the largest construction boom in its magnificent history. From downtown to Aventura, the landscape of the real estate in Miami is constantly changing with the addition of each new condominium building.
Miami real estate has become one of the hottest commodities with people coming from all over the world to try and get in on the Miami pre-construction deals. Miami pre-construction gives people the opportunity to build equity in a property while not having to pay the normal carrying costs such as taxes, maintenance fees or a mortgage.
When a buyer purchases a pre-construction property in the Miami real estate market, 10% of the sales price is due at the time of contract. The second 10% is usually due within the next six months, or by the time the foundation of the building is complete. The total investment with most developers is 20%. There are however, a few developers that require an additional 10% at the topping of the building.
One of the latest trends is that developers are offering resale programs to their buyers once the projects have been sold out and construction has begun. Once a second buyer for the property is found and a contract is secured, the initial buyer gets back their deposit money. This gives buyers the opportunity to free up their deposit monies to invest in other Miami real estate projects. The profit on the property is received by the initial buyer at closing.
Miami real estate offers pre-construction units starting from the $300,000 (some projects have select units starting in the mid $200,000 range) price range up to multi-million dollar units. Of course pricing depends on the location views and amenities. Ocean and bay front projects obviously command the most money.
The key to investing in pre-construction in the Miami real estate market is to get in at the very beginning of the sales. The best way to stay on top of the latest Miami real estate projects is to have a knowledgeable well connected realtor to work with. This gives you the opportunity as a buyer to purchase the properties before the rest of the public. For more information on the latest opportunities in Miami real estate please visit or Miami real estate and Aventura website at Miami real estate blog to keep up-to date on all of the latest information on Miami and the Miami real estate market.
Aventura real estate
Miami real estate
Aventura and Miami MLS search
Miami Real Estate Blog
Received the following email today on this article"
/>
Please, read this
http://www.sun-sentinel.com/news/local/southflorida/sfl-zreal02dec02,0,69081
12.story?coll=sfla-home-headlines
I have invested in South Florida and now it's bad idea to buy any
pre-construction condos here.
Also, before you wrote this, did you check on how much "maintanance fees"
for condos you were so excited?
Also, as I work closely with my real estate attorney, there are large amount
of investors who paid first 5-10% and never was able to close and had to
loose their deposit money. It's a heaven for lawyers here now, LOL.
I guess your article how it's all beautiful and promising here made me a bit
upset. Because it misleads a big time. This website is mostly beginners and
somewhere on the middle investors. And it would be a good idea to show both
sides and responsibilities for any investment people do. When you take a
stand, you are already responsible. It's like a teacher - he is responsible
for their students.
Thank you for your time.
Yulia
Hi Yulia,
I am not exactly sure what you are trying to tell me but the article has nothing to do with the condo market.
You stated "Also, before you wrote this, did you check on how much "maintanance fees"
for condos you were so excited?"
Again the article has nothing to do with the condo market.
You also said, " I guess your article how it's all beautiful and promising here made me a bit
upset. Because it misleads a big time. This website is mostly beginners and
somewhere on the middle investors. And it would be a good idea to show both
sides and responsibilities for any investment people do. When you take a
stand, you are already responsible. It's like a teacher - he is responsible
for their students."
This is not my article "it is a press release".
You said, "I guess your article how it's all beautiful and promising here made me a bit
upset."
Facts:
Miami housing market is still strong. Miami is still the hot spot for living in South Florida. Miami boasts beautiful Oceans, shopping and entertainment. All indicators are pointing to another increase in home prices this year in Miami. Hot, Hot
The Dade and Broward markets are still in great demand. Single Family homes are of greater demand. Inventory of listing have increased somewhat. Interest rate remain at relatively low levels producing a Seller's Market. Multiple offers on the
With 10 new condominium projects on the rise, North Bay Village is seeing some major transformations. What was once a hang out for Mobsters and prostitutes, is now a development site for major projects like 360, Space 01, Lexi, Bridgewater, BayView
Properties are still selling fast and within days of being on the market. Inventories are still low but are expected to rise a little over the holiday season. Lots of investors are still out there looking for good buys. It's getting increasingly
Average Current Market Rating: 4.2 out of 5 places Miami in a Seller's Market
Average Current Price Trend: 4 out of 5 places Miami in a Rising Market
See http://realtytimes.com/rtmcrloc/Florida~Miami
You said, "When you take a stand, you are already responsible. It's like a teacher - he is responsible
for their students."
The fact is I took no stand on this article, as it is a news release.
You said, "it would be a good idea to show both sides and responsibilities for any investment people do".
That’s a great ideal, since you see the negative side of investing in Miami why don't you post this information and simply take ownership to your message.
Kick me all you want but the facts still show Miami an interesting and profitable market if one knows what they are doing.