Miami FL Real Estate – A Cash-Buyer’s Haven For Luxurious Home & Condominium Properties In The U.S
2011 is a really good year for the Miami FL real estate market as more home and condo properties have been sold as of the 3rd quarter of this year. Now that Miami is leading the real estate trend all over the United States, the real estate economy of the Magic City is now ready for a series of new projects and developments waiting in store.
According to the most recent survey from the Miami Metropolitan Statistical Area or MSA, home sales have increased up to 49 percent this year while the condo property sales has made an all-time increase high of 60 percent this year!
According to the data from the Miami Association of Realtors, this is the biggest break in terms of real estate property sales in Miami after a long series of hardships in terms of home and condo sales.
Today, Miami is among the top real estate markets in the country. Compared to last year’s results, the home sales for Miami is 18.6 percent better than August 2010’s results. Despite the ongoing recession, Miami has never had any real problems advertising their home and condo properties worldwide because the Miami Florida real estate market has long been known to offer only the best properties in the world. In fact, home prices in Miami are rising as we speak despite the fact that there are some distressed sales currently floating in the sidelines of the market.
What has made the local market so successful? Its cash buyers who, according to this year’s financial survey for real estate properties, have allowed for almost 62 percent of home and condo buyers in Miami to be paid for in cold cash, leading to leaps of success for the market as a whole. Out of all the real estate property sales this year, 42 percent of these single family home properties are paid by cash and 76 percent for the condo market.
Because of the continuous cash purchases made in the Miami FL real estate market, it will only be a matter of time before the market develops new and luxurious real estate properties for the next batch of interested buyers and investors locally and worldwide.
Would the prices be the same as what is seen on the market now? We will never know; one thing for sure is that people can expect these properties to be more elegant, more sophisticated and more valuable than ever. There is no guarantee that the properties that are set to be developed in the near future would be as affordable as the ones we have today, so if you have the money to invest on one right now, you might as well invest on it before it is too late.