Buying burst eats into downtown Miami condo supply, prices edge up

By Marilyn Bowden    Bulk sales are tapering off, but brokers say a burst of buying activity since the beginning of the year is eating into the downtown condo inventory and, in some cases, even leading to appreciation.    According to a residential closings and occupancy study prepared for the Downtown Development Authority by Goodkin Consulting and … Continue reading

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Condo developer betting on Greater Downtown Miami

BY PETER ZALEWSKI SPECIAL TO THE MIAMI HERALD A family-run, South American residential development company is prepared to bet its fortune that the Greater Downtown Miami condo market is on the verge of entering a new growth phase in the real estate cycle. The development company, the Melo Group, founded by father Jose Luis Melo … Continue reading

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New Homepath properties available in Downtown Miami & Brickell today!

As many of you now know, Homepath is the best option to get a fantastic financed deal on a Downtown Miami or Brickell foreclosure.  Last month, we talked about all of the benefits, but here is an updated list of the Homepath-approved properties in our neighborhood: http://bit.ly/hWnEnX You will see properties at Ten Museum Park, … Continue reading

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Homepath Properties: Making Mortgages Attainable

Over the past 2 years, Downtown Miami & Brickell areas have been ravaged by the difficult lending market.  Sure, many properties are selling, but mortgages are very difficult to obtain for people who do not have large sums of money for 30%-40% down payments.  All hope is not lost.  Fannie Mae has a program called … Continue reading

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Everglades on the Bay to be Renamed

  In November, Rockwood Capital, LLC (“Rockwood”), the private real estate investment firm, along with partners Duncan Hillsley Capital and Fortune Capital Management Services, announced the acquisition of Everglades on the Bay.  The original developer, Cabi Downtown, is now transitioning out of control of the project following the recapitalization of their Chapter 11 reorganization. The new … Continue reading

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Renting a Miami Condo – Common Fees & Deposits

Renting a condo in Miami includes a different timeline, set of fees, deposits & applications than your traditional apartment rental. When tenants rent their first condo, they are always surprised when the offer is signed & the application process begins. So what are the fees associated with renting a condo? Let’s break down each fee … Continue reading

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7 Tips for Getting Your Foreclosure or REO Offer Accepted

To make an offer on a Bank Owned Property (and have it accepted), you must have the following: – If you are financing the transaction, a pre-approval letter stating that the income, assets, and employment have been verified. This is different from the standard pre-qualification letter given by a mortgage broker for a traditional sale. … Continue reading

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8 Things to Know About Buying a Short Sale Property

It has been said that “there is nothing short about a short sale,” and with good reason. The fact of the matter is that short sales are here to stay, and over the coming years will become more and more popular for buyers. Many times, properties in foreclosure are terribily run down, damaged, and vacant. … Continue reading

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