Sunny Isles Rental Market

Sunny Isles Rent

It comes as no surprise that COVID-19 has changed the world we live in. Exactly a year the real estate market in Miami was staggered to say the least with inventory adding up to about 6 years. Today, everything has changed and there are hardly any rentals available in Sunny Isles Beach. In fact, the average price of rent for an apartment in Sunny Isles Beach has gone up a massive 12.6 percent year over year. This is the most substantial annual increase to be seen in Florida annual rental growth.

Because of this tremendous growth rate, those who are interested in renting an apartment in Sunny Isles Beach can expect to pay an average of $800 a month more than a year ago according to MLS report. As a result today there are less than 500 properties in total available for rent in Sunny Isles Beach, compared to about 1500 properties from a year ago.

Cause of the Growth:

The jump in rent prices is not out of nowhere, however. Sunny Isles Beach has long been a super popular destination for end-users, visitors, snow-birds as well as investors. Sunny Isles Beach is a very well-organized community that is dedicated to those that are living in the area. With the majority of those living in the area holding a degree, the area continues to be a favorite for those of all ages. This super-luxury area offers multi-million brand name oceanfront condominiums with every imaginable amenity. The condos such as Acqualina, Armani, Porsche, Turnberry and Trump all located directly on the beach and offer private beach, restaurants, full service and much more.

Right across Collins Ave is the stretch of multiple shopping centers which offer everything from the ethnic foods, supermarkets, brand name shops, restaurants and some night life. However, as opposed to South Beach for example, Sunny Isles Beach is strictly residential area with no “club crowed” wondering the streets late at night.

In the past Sunny Isles Beach attracted sophisticated buyers mainly from around the worlds. This includes South America, Canada, Russia, Europe. Today however, there is a massive migration from the US. Florida had always been a very popular destination for the East Cost. New Yorkers notoriously came to Florida during the winter months. However, today this trend is quickly changing where everyone wants to own a residence in Florida. As a result, there are many families who migrated from the West Cost, Mid-West as well as North-Mid-West.

It is of no surprise that Miami offers much more than any other state at this time. New York has been locked down for many months now. So is California. However, Miami is booming with restaurants that are filled with people and there is a waiting list. Night clubs are busy like never before. The beaches are full with the perfect Florida weather. Also, the boat lovers are exploring the oceans, rivers and local canals, enjoying the Atlantic warm waters and white sands. Everything is open and kicking in Miami!

gone under a serious makeover as of late. The beaches, the ultra-modern condominiums, the shopping centers all became areas, and downtown of the city have been transformed from another Florida city into an international destination. Both mid-rise and high-rise residential development has taken off, which has led to a whole new influx of residents.

Major Constructions & Renovations

The Related Group just finished one of the most stunning construction of an Armani building. Located directly on the ocean it boasts 55 stories high and adding to an already stunning Sunny Isles Beach skyline. Other massive projects in Sunny Isles Beach include two Estates at Acqualina buildings, Aurora building and Chateau. The average rent price for luxury condominiums in Sunny Isles Beach is now approximately $7,500 a month.

Many other well-known developers have followed suit, developing and redeveloping properties found on the prime beachfront land of Sunny Isles Beach. Fortune International, The Related Gourp, Dezer Group and The Chateau Group are just some of the giants building in Sunny Isles Beach, Florida.

Commercial Growth

It is not just rent that is thriving in Sunny Isles Beach, however. Dozens of major retailers are interested in Collins Ave as a space to provide their services and products. The office market is also rising in Sunny Isles Beach with higher rental rates and more new construction coming year after year.

Growth in Other Cities

Sunny Isles Beach is not the only Florida city experiencing rent hikes over the last year. In Hialeah, rent has climbed 4 percent to $1,263 a month; in Pompano Beach rents are up 6.7 percent at $1,334, Fort Lauderdale rents are up almost 8 percent and in West Palm Beach averages are at $1,340 or up 5.5 percent.

When considering the country as a whole, the cities that reported the highest rents for November include Boston at $3,262, San Francisco at $3,432, and Manhattan at $4,089. As for the most exceptional rate in average rent across the United States, Odessa rose an impressive 33.2 percent to $1,111, and Midland increased over 25 percent to $1,274.

While most of the attention is on buyers from New York and Connecticut, buying and investing in property to help shelter their money and to make the best of the new tax situation in their own state, other changes could be coming, as well. In fact, the favorable Florida tax benefits also play major role for companies looking to relocate to Florida. As a result, there have been already an additional 24,700 jobs created in Florida in the financial sector over the course of the last year. During that same timeframe, Connecticut lost more than 1950 jobs.

The advantageous tax situation in Florida is not only helpful for hedge fund managers, of course. Anyone who is looking to buy property, whether it is purely for investment or for a new home will find that the tax situation in Florida can work out in their favor.

It’s expected that by the year 2021, the Miami-Dade area will have a very limited inventory to sell or to rent.

Why Trump Royale Sunny Isles Is The Best Building To Buy And Rent

Trump Royale Sunny Isles Beach

Trump Royale Sunny Isles is one of the most popular luxurious condominium complex in Miami Beach. It is located directly on the beach in Sunny Isles Beach, one of the most sought after area in South Florida. The Trump Royale Tower in Sunny Isles was constructed in the year 2008. It offers 278 units and is rising up 55 floors. There are nine different floor plans in Trump Royale Sunny Isles, varying from 880 to 6,430 square feet. There are also different numbers of rooms available along with bigger and better penthouses. So, depending on your requirements, you can choose a unit that fits virtually any size family into your own mansion in the skies.

Trump Royale was constructed from steel and glass so it looks elegant and elite. This condominium is very desirable and holds very good value in the real estate market. It offers highly luxurious units and amazing amenities for those who would like to purchase or rent condominiums. This place offers a greater return. But there are multiple reasons why you should choose this tower to purchase your own home.

Amenities Offered in the Trump Royale Sunny Isles

The Trump Royale Sunny Isles offers great amenities to its residents. The owners can enjoy all the amenities year round or they can rent out their condos for 6 months at a time.Following are some of the top amenities offered by the Trump Royale Sunny isles Condos:

Large Lobby Entrance

The Lobby Entrance is quite large, which is a two-story building. The Lobby Entrance offers a great many benefits to the residents and guests. A large lobby entrance has great receiving and seeing-off places. There are also several rooms in which people can have their private communication before parting. A large lobby entrance never gets too crowded. So, there is never a stifling environment in the lobbies. The large lobby is one of the main attractions, which satisfy clients at the first sight.

Tropical Landscaping

The tropical and stylish design of the lobby entrance area brings out beautiful nature and enriches the lives of all people. The tropical landscaping makes the trump towers in Sunny Isles look more welcoming, elegant, and warm. The natural and splendid tropical landscaping creates a Savannah near the beach. So, it becomes too tempting for the residents to say no to living in Trump towers. They have to concur on purchasing the apartment once they have entered the building.

Access to 1000 Feet of Beach Front

The Trump Royal of Sunny Isles offers increadible beach, which stretches for miles and miles. At the beach, kids and families can enjoy great private time. The proximity of units to the beach water is one of the main reasons why people get interested in the Trump Royale Sunny Isles tower. Florida is famous for its beaches, and we offer a luxuriously built trump tower, which securely gives access to a large and beautiful beach. The sand and the crashing waves are all yours when you purchase the unit or units in Trump Royale Sunny Isles.

Outdoor Private Reception Areas

You can also utilize the private outdoor reception areas so that residents can enjoy hosting a party. Outdoor reception areas can be used for a variety of purposes. Residents can host or hold educational seminars, informative sessions for any lectures or classes or other types of functions. They do not have to travel to any other place for hosting a seminar or a party. The towers offer elegantly and magnanimously built reception areas for different events.

Center of Water Activities

In the Trump Royale Sunny isles, you can also find a large center of water activities. The management of Trump Royale Towers ensures that residents enjoy different water games so to relax and loosen a bit. There are controlled lap pools, breach-grade or sloped entry,and waterfalls. In the water activity areas, residents can enjoy drinks from the bar and enjoy the food of the grills area.

Larger Dryers and Capacity Washers

Your maids or house help can easily get done with washing clothes in Trump Towers. Management has installed larger and better capacity washers and dryers. So, residents can easily wash clothes as well as dry them without washing them a great amount of time.

Duplex Spa in the Tower

Residents can also benefit from the duplex spa, which is 8000 square meters long. The length and width of the spa create a soothing and peaceful environment inside the spa. Every individual can relax and spend quality time, getting spa treatments. Residents do not have to travel to far places to avail themselves of spa services. Just go a few stairs down, and find the duplex spa.

Private Elevators

Residents also get access to their units by using private elevators. The elevators are high speed, which works most efficiently. The design of the elevators is also royale and elegant.

Hurricane-proof Windows

The windows of the Trump Royale Sunny Isles towers are hurricane-proof. This means that no hurricane can cause any damage to the tower.

HVAC System

Every apartment has its HVAC system. The residents control the HVAC system with great convenience. The HVAC system has personal climate control.

Full-Service Car Wash and Valet Services

The Trump Royale Sunny Isles also offers great valet services. So, owners of apartments do not have to wander their cars in the city to get their cars washed or polished. Just make a phone call to the staff members, and they will have your car washed in no time.

Last but not the least, Trump Royale Sunny Isles also offer amazing residential features. It has glass windows, large terraces, customized kitchen cabinets, spacious dining areas, smart stainless steel kitchen ovens, stylish countertops, an amazingly decorated bathroom, and more.

All in all, Trump Royale Sunny Isles offer all kinds of features of an elegant and excellent residential apartment. The amenities, offered by the management, increases overall worth and luxury of the apartment. Besides its structural elegance, the amenities enhance its overall beauty and structural elegance to a greater extent.

Why Florida is a Great Place to Live

If you’re thinking of starting a new life in a completely new state, then it wouldn’t be surprising if Florida has already crossed your mind. Other than being the Sunshine State, and the fact you’ll never be more than 60 miles from the ocean, 14 out of the 150 best places to live in the US are here, including Miami. If you’re not convinced yet, here are other reasons why this state’s a great place to live in.


Enjoyable Weather


It’s not the Sunshine State if not for its warm sunny weather. If you love the sun, then Florida is perfect for you. You’ll enjoy 200 sunshine-filled days each year. Snow is rare, and all you need during the winter is a sweater. You’ll find yourself with more opportunities to enjoy the outdoors all year, especially golf, theme parks, and of course, the beaches!


Fantastic Beaches


If you love the beach, you’ll have 663 miles of sand, sea, and surf near you. When tourists flock to the state, it’s usually because of the top beaches in Miami. The South Beach tops the list, with all the beach sports you can play — volleyball, soccer, football, Frisbee — you name it. If you like to party, then Nikki Beach is the one where everyone heads to. There’s also the Surfside Beach for some parasailing, sailing, boating, and other water sports. If you want to see some fishermen catch live big fish, head to the Sunny Isles Beach and check out the Pier. Other than these beautiful beaches, we believe that when you own a luxury Miami Beach residence, it’s a statement of who you are, and a celebration of your success.


Excellent Career Opportunities


Building a career in Florida won’t be a problem as several businesses located here are among the most highly ranked in the country today. There are at least five Florida companies that made it to Fortune’s 2019 list of best firms to work for. The best among them is Ultimate Software in Weston, Florida, which ranks 8th overall in the country.

If you’re the remote working type, you’d be glad to find out that Florida is among the states with the most remote workers. Data entry, legal, and editing jobs are the most popular remote jobs today in Florida, and the top remote companies are Sykes, Kaplan, and Kforce.

What makes the idea of career-building here even more attractive is there’s no state income tax. Unlike the majority of the states that require them, Florida residents get to save more and better enjoy their hard-earned money.


Great Business Perks


If you’d rather put up your own business then you’ll be happy to know about Florida’s business advantages. The business climate is welcoming and competitive, thanks to its pro-business state tax policies. Entrepreneurs hoping to start an LLC in Florida can look forward to a rebounding economy, excellent infrastructure, and a large pool of diverse talent. And because money earned as an LLC is also taxed as its owner’s personal income, you also won’t need to pay income taxes. However, if your LLC has employees, you’ll still need to pay for state employer taxes and state unemployment insurance taxes. If you sell goods, beverages, fuel, cigarettes, or tobacco, you’ll have sales and use tax, and excise tax as well. But these wouldn’t be deal-breakers, as being the fourth largest economy in the U.S. as of last year might be enough to convince you to start your business in Florida.


Cultural Diversity
Florida was ranked as the eighth most diverse state in America, making it one of the best melting pots in the country. You’ll encounter people of every age, ethnicity, religion, and any other background. Wherever you go, you will find a state that is rich in different cultures who happily co-exist.

As a bonus, just keep in mind what Walt Disney had to say: “Here in Florida, we have something special we never enjoyed at Disneyland… the blessing of size. There’s enough land here to hold all the ideas and plans we can possibly imagine.”

Sunny Isles Beach Condos Have More Than a Year Backlog

Florida real estate

It is probably surprising to nobody in the area that South Florida has had consistently expensive condominium prices. Because of this, it’s also not terribly astonishing that condo developers are happy to snatch up every last plot of land in order to develop more of these luxury dwellings. What has happened because of this is developers buying and developing over and over, even when they may have no assurance that buyers will be coming.

Sunny Isles Beach Neighborhood

It looks like that moment has come, when there are so many condos for sale that there’s simply no easy way to find a buyer for all of them. A study by real estate experts in the area from earlier this year gives an opinion that a Sunny Isles Beach area, located just north of Miami Beach and in the same place where you can find the Trump International Beach Resort, Trump Royale, Trump Towers and Trump Palace, among many other condominiums is up for a price increase as it’s becoming one of the most sought after areas in Miami.

In addition to Trump’s illustrious properties, other high-profile buildings exist in the area. Probably the most notable is the Porsche Design Tower, which was opened in May of 2018 with a performance by musician Alicia Keys.

In fact, the sheer number of condos on the market in Sunny Isles Beach would satisfy anyone’s taste and desire to own the most luxurious condo on the ocean. The average price for an ocean front condo in a newer built building is over $1,000,000. However, buildings are still being erected and with so much supply, it could lead to rapidly tanking prices in an area that isn’t set up for that sort of system.

Price Points for Condos

An average asking price for a Sunny Isles Beach condo is right around $1.5 million. Also, an average time that it takes to sell that unit is about 120 days. This report looks only at condos formally listed for sale in Sunny Isles Beach. There are few more new construction units that are offered for sale as well.

Looking Forward

It’s expected that by the year 2021 in the Miami Dade area will have a great increase of buyers coming from northern states to the sunny Florida. The area offers 4 parks, A-rated school, shopping area within walking distance and a great family neighborhood.

Jorge Perez, real estate mogul in Miami, who has built many luxury ocean front condominium structures in the area is also believes that Sunny Isles Beach is due for an increase in popularity and new families looking to move into the area.

Some of the new condo-complexes that are getting built now are Estates at Acqualina, Armani Residences and Aurora. Please call our office (305) 998-9922 for additional details

Phil Collins North Bay Road Miami Beach Mansion Listed For Sale ($40,000,000)

North Bay Road Miami Beach
In the beginning of 2020 the Ex-Husband of Ex-Wife of Phil Collins listed a luxurious waterfront mansion in Sunset Islands for a cool $20 million. Amidst a genuinely messy divorce that took place between Phil Collin’s ex-wife, Orianne Collins Mejjati Alami, and her ex-husband, Charles Fouad Mejjati Alami.

Messy Divorce Proceedings

Charles Fouad Mejjati Alami was the listed owner of this expansive home with almost 10,000 square feet of space. The mansion is located at 1525 West 24th Street in Miami Beach with a current asking price that averages out to a little over $2,000 a square foot.

Orianne Collins Mejjati Alami filed for divorce from Charles Fouad Mejjati Alami back in early 2016 with a claim that she owned the home. She further explained that Charles Fouad Mejjati Alami was transferred the title of the beautiful home “through deceit and fraud upon the wife,” according to public court records. The divorce was initially completed in spring of 2017, with an amended final judgment in September.

Most of the court documents related to the messy proceedings are now sealed, but it was reported back in February that Orianne Collins Mejjati Alami was looking to nullify an older settlement agreement made out of court which placed the title for the Sunset Islands home with Charles Fouad Mejjati Alami, to begin with. She explained at the time that she had no memory of signing the property as she was on painkillers prescribed for a painful back operation.

Original Purchase of the Sunset Islands Home

A look at property records shows that in 2014, the mansion’s title was passed over to Charles Fouad Mejjati Alami. He and Orianne Collins Mejjati Alami purchased the property in 2012 for an estimated $8.4 million.

The extraordinary dwelling features seven bedrooms, eight full baths, and two half baths. It was built in 2005 and includes a two-level foyer with double grand staircase, fireplace, gourmet kitchen, formal dining room, breakfast room, maid’s quarters, and family room complete with wet bar. The master bedroom has two full baths along with his and hers closets with a full-length balcony that overlooks the water nearby.

On the nearly 10,000 square feet, there is also a rooftop terrace, two two-car garages, interior courtyard, private gym, home theater, elevator, clubroom, pool, and an exclusive boat dock. Many one of a kind features abounds in and on the property with custom Fendi design and amenities that discerning buyers will appreciate.

Phil Collin’s Property

Since then she has gotten back together with Phil Collins but only for a brief moment. Collins settled with his ex-wife Orianne nearly $47 million after the couple divorced in 2008, however Orianne managed to get married twice since then. She met her most recent husband Mr. Bates in Las Vegas and soon after the couple became married. They moved into the marital property at 5800 North Bay Road Home in Miami Beach and now, they refuse to vacate the property.

Phil Collins has listed the property for sale but his ex-wire wants half! She already refused several showings and hired armed guards to protect the property. Phil Collins filed a law suit against the newlyweds alleging unlawful detention and forcible entry. The high-end residential Miami market became very active once again in the recent months, especially during the third quarter for the luxury single-family home segment. In fact, it had increased over 71% and year-over-year with over 170 closings in Miami Beach alone.

As of right now, Phil Collins biggest worry is about his personal memorabilia property which includes the Alamo collectibles. However, Orianne’s new lawyer, Richard Wolfe, states that most of the personal property, including furniture and memorabilia, is “the legal and equitable property of Orianne.”

The 5800 North Bay Road home was the former home of pop-singer Jennifer Lopez. Collins bought the home in June of 2015 for about $33 million. The mansion includes seven bedrooms, eight full baths, three half baths, pool, jacuzzi, and more.

Florida – No-State-Tax State vs. California

Florida real estate

More and more people today are moving from high-tax states like New York and California to states with lower, or no state taxes, like Florida. The most recent data from the IRS also points to the Sunshine State, one of the most popular places for people looking to lower the tax payments, basically from states like New Jersey, New York, Connecticut and of course California, one of the most expensive states to live in. Let’s face it, in 2018 Florida stated collected a whopping $16 billion dollars as the gross income, vs. the second best Arizona with only $3.5 billion. Texas, which is also a no-state-tax came in third with the generated
$3.4 billion. However, after Florida, Arizona and South Carolina are the two most desired destinations for movers during 2018 and 2019. The three states above are most favorable because of the warmer climat and retirement opportunities.

In fact, the high-tax states such as California and New York have been loosing a significant amount of adjusted gross income – about $10 billion dollars annually as wealthy individuals and businesses have been moving out. Even our president Donald Trump had announced that he had decided to change his domicile from New York to Palm Beach, Fla. Billionaire investor Carl Icahn is also headed to Miami, and billionaire hedge fund manager Leon Cooperman fled to Boca Raton.

The Tax Cuts and Jobs Act capped state and local tax deductions at $10,000, which is well below the average amounts claimed in places like New York and California. Florida has long lured relocating residents with its lack of a statewide income tax, and inheritance tax. Meanwhile, New York’s top income tax rate is more than 8 percent.

An individual or couple earning $650,000 in ordinary income could save $69,719 per year by moving from New York to Florida.

Let’s look at three recent newspaper headlines, all seemingly unrelated. But are they really? I think not.

“FLORIDA PULLS IN BILLIONS AMID HIGH-TAX STATE EXODUS”

“I think that California can serve as a great example … something the rest of the country looks up to.” — Former New York City Mayor Michael Bloomberg.

“Today’s groundbreaking is just another indication that Florida remains the best state in the nation to start or grow a business.” Governor Ron DeSantis, hailing Spirit Airlines’ decision to locate a new headquarters in Fort Lauderdale, beating out Dallas, Texas.

“Florida greeted the largest number of U-Haul® moving trucks entering its borders versus exiting them, establishing a new No. 1 growth state for the first time in four years….” California ranked 49th. — U-Haul annual growth survey.

Bloomberg’s notion that the now-tarnished “Golden State” can be a model for anyone would be laughable if it weren’t for the tragedies driving out desperate citizens all over that state.

BILLIONAIRES BOLT TO FLORIDA AMID HIGH-TAX STATE EXODUS

That desperation is demonstrated not only by California’s near-last place finish in the U-Haul survey, but also its rental rates: one-way U-Haul trucks from leading California destinations to Texas cities cost four times those heading the other way.

Who can blame Californians – and where to start with all the reasons they’re voting with their feet in deserting one of the most scenically beautiful, and once most prosperous, jurisdictions in the greatest nation on earth?

How about the highest sales tax rates in the nation which exceed 10 percent in parts of the state. Then there’s the second-highest gas tax at nearly 50 cents/gallon and overall gas prices that are the highest in the nation.

How about the highest state income tax topping at 13.3 percent or the average family state income tax at approximately 10 percent.

— Californians who dare to drive, own property or earn a living are saddled with this huge collective burden.

Then there are basic services (like street-cleaning) which are fast becoming a secondary priority behind liberal social experiments that run counter to the American ethos of working hard and getting ahead and mandating protections to illegal aliens through sanctuary city declarations to the detriment of legal immigrants and American citizens. How about under-performing schools with barely half of the students achieving reading standards and far less in math, and achievement scores far below the national average.

CALIFORNIA GIG ECONOMY LAW COULD PUSH FREELANCERS TO FLEE THE STATE

Not to mention regulatory schemes putting livable housing out of reach. The treatment of mental health and other core issues that cause homelessness have been replaced with lax attitudes toward the resulting homeless that spawn shantytowns everywhere from business districts to residential neighborhoods, with piles of trash, needles and even human feces overwhelming cleaning crews.

All of this has resulted in shockingly unsanitary conditions like the waste being tracked on San Francisco’s “poop map” and public health crises like typhus not encountered in generations.

Then there are the wildfires caused by layers of mismanagement resulting in potentially years of blackouts that have literally plunged Californians back into the Dark Ages. How about crumbling infrastructure on top of all this while billions are diverted to a now-abandoned bullet train to nowhere, and poor and politicized water planning is denying much-needed water to farmers and ranchers in the nation’s breadbasket.

Democratic-dominated state and city governments obsessed with “progressive” notions including, courtesy of the Heritage Foundation’s Daily Signal, a recent litany of the City by the Bay’s looniness: “bann(ing) fast-food restaurants from including toys with most children’s meals; prohibit(ing) city-funded travel by local employees to 22 pro-life states; rais(ing) the minimum wage from $9.79 to $15.59 an hour; and, after banning plastic bags in 2007, first set(ting) a 10-cent fee for each nonreusable bag at stores, and then a 25-cent fee per bag.”

And of course, the far-left windmill-tilting on climate change, gun control and criminal justice reform (read: not arresting lawless thugs) that prompted Bloomberg’s remarks.

Contrast Florida, where two decades of conservative Republican leadership in the governor’s mansion and unbroken GOP control of the legislature are attracting new citizens and businesses. There is no state income tax, there are low effective corporate income taxes and there is a favorable regulatory environment. As a result, Florida’s unemployment rate is currently near historic lows.

Stir a high quality of life into the mix, too. Steadily rising student test scores and graduation rates and a narrowing of the achievement gaps between lower- and high-income students also make Florida a great state for families, thanks in large part to expanding school choice efforts that increase freedom and create competition even as overall education spending is expanded and reinforced. Plus, Florida boasts a state university system ranked first in the nation.

Add to that gubernatorial leadership that is laser-focused on the needs and priorities of citizens, including higher teacher pay, increased school safety, improved immigration enforcement, and environmental protection, including taking on the blue and green algae crises.

In short, the state being held up by elitist Michael Bloomberg as an “example” is burning, parched, disorder-ridden, over-taxed, overregulated, underperforming, stinking and shrinking. While the one being effectively governed by Ron DeSantis and a legislature fully in touch with its constituents is growing and flourishing.

No wonder Bloomberg, the billionaire businessman, is at just 14 percent in the latest Democratic presidential poll – while Governor Ron DeSantis is soaring with an incredibly-high approval rating at 65 percent (in a state with a sizable Democratic population understand that this is a huge number).

The three articles quoted at the beginning of this op-ed all reflect the same reality. The sun shines in both states but it shines its light on two very different realities. It shines much more brightly in Florida thanks to conservative policy and good governance.

Ed Pozzuoli is CEO of Tripp Scott and former chairman of Jeb Bush for governor. This article came from FoxBusiness –Stinking, shrinking California vs. fantastic, flourishing Florida — A tale of two states

Sales of Homes in the US on the Rise Thanks to Strong Sales in the South

Nationwide, the sales of new homes rose in the month of May. However, while this might initially seem like great news and that the real estate market is strong, it is important to realize that most of these home sales were from activity taking place in the south. Overall the purchases of new single-family homes were up by 6.7%, which was higher than what was projected by a substantial amount. The prediction from the economists was that the home sales would only increase by 0.9%.

What Was It that Caused the Growth?

The increase in sales that were seen in May is due mostly to what was happening in the south, where there was an increase of 17.9% in home sales. This was a massive gain. In fact, it was the largest gain that has been seen since the last part of 2014. In the Midwest, the rates remained flat, whereas they actually dropped in the West and in the Northeast.

It is also very important to remember when looking at this figure that there was a huge margin of error in May. In fact, it was a margin of error of 14.1%. Additionally, the numbers released are only indicative of new home sales, which make up only a small percentage of the overall home sales, which would include previously owned homes.

The sales for homes that already exist, including condos, townhomes, and single-family homes, was only up by 1.4% in May. The National Association of Realtors believe this was due to the fact that mortgage rates and prices are increasing. The mortgage rates are likely to increase a couple more times over the course of this year, and in the following years, as well. This is due to the Federal reserve raising interest rates, which they hope will help them to deal with inflation. However, it does mean that the prices for homes are going to go up.

This has caused some buyers and potential buyers to consider some of the other ways that they can get the money they need for a loan. Rather than turning to the traditional lenders, they are instead looking at nonbank mortgage lenders. They believe that they can get better deals than they can with traditional banks. Additionally, because of the rise in rates, there are many lenders who are looking to become more competitive, and they are trying to make it easier for buyers in the Florida area to get homes.

While these both seem like good options currently, and they can spur more sales, there is also some danger associated with them. With the traditional lenders, they are taking on more risk than they might be comfortable doing, and they could be letting people borrow who should not. In addition, the nonbank mortgage lenders do not have the regulation and liquidity of traditional lenders, which could also cause some issues for borrowers down the line.

5 Questions to Ask Before Deciding the Next Location for Your Apartment

Apartment hunting is an exciting yet often stressful process.

However, before you can start thinking about the number of bedrooms you want, whether or not you need a porch, or if you prefer a gas or electric range, you need to determine the location where you want to live, something that can be much easier said than done.

To help you make a better and more efficient decision, there are some important questions to ask. Some you can answer yourself, and others will require some research, but put the time in to find the answers so that you can be sure you’re looking for apartments in the best possible place.

What are the neighbors like?
No matter how much you love a place, noisy, inconsiderate neighbors can quickly ruin your life.
Find out from either the current residents or the landlord who lives next door, above, and below, to see if there are any issues.
You may find that those living in the place now can offer you better advice than the landlord, but it’s good to ask both.
This question is especially important when you’re moving into an apartment building. Thin walls and noisy neighbors can ruin your sleep and make the rest of your life miserable, so make sure to check out who you’ll be sharing the space with and how much they will impact your experience in the apartment.
You may also want to inquire about what goes on in the neighborhood. If someone down the street has lots of loud parties, that too could be a dealbreaker.
What are the parking/public transport options?
You may fall in love with an area, but if it’s a pain to commute, or you can’t find parking for your car, then many of the positive aspects of living there will be negated rather quickly.
Find out if the apartment comes with a parking spot, and if it doesn’t, spend some time driving around the area to see what it would be like to find somewhere to leave your car.
Make sure to look at peak times, too, such as weeknights after six, to see what it would be like to park when everyone else is also looking for parking.
If you don’t have a car and plan to take public transport, do a few practice runs before committing to the place. Making two transfers might not seem like a big deal when you’re looking at a place, but it could end up being a major problem in your day-to-day life.
What else is nearby?
The living space you choose to rent is a top priority. But also make sure you’re moving to an area that’s going to provide you with all the amenities you might need and want.
For example, consider how far it is to the nearest grocery store, pharmacy, hardware store, post office, etc. Again, your new place isn’t going to be all that exciting if you have to travel a half hour or more to get food.
However, you will also want to make sure there are enough entertainment options for you.
If you like going out to bars and restaurants, find out how many are nearby that you’d like to check out. Also, look up how close the nearest gyms and movie theaters are, and ask yourself how willing you will be to travel to these.
Having these options will also make it easier for you to integrate into the neighborhood. You won’t have to travel as far for a good meal, and who knows, maybe you’ll find a place “where everybody knows your name.”
Is it safe?
Your home needs to be a place where you feel completely comfortable. No exceptions.
To begin, take a look at some statistics regarding the area, such as the crime rate, number of break-ins, car insurance prices, etc.
These will give you an idea of what the area is like, but they shouldn’t be the only thing you use to make your decision. Some statistics could be out of date, and others can be deceiving, meaning they might not reflect the current state of the neighborhood.
Instead, consider checking the area out at different times of the day, especially at night. Are there people on the streets? Is it well lit? Do you feel comfortable?
Doing this will give you an idea of what it might be like to rent in that area, and this should help you decide if it’s really where you want to live.

Is it an in-demand neighborhood?
While this is a question you might think is more fit for someone investing in real estate, it’s important you consider it because it will give you an idea of what might happen to the rent. More specifically, will it go up?
Most landlords these days are also property investors, and so they are looking for maximum return on investment. This means that if you move into an apartment in a good area where a lot of people want to live, they may start raising the rent year after year until you can’t afford it and they find someone who can.
However, this question is more suited for those who are looking for a long-term rental. So, if you’re worried demand in the area will drive you out after a year, talk to the landlord/property manager about signing a long-term lease.
This will lock in the price and will free you from worrying if you will be able to afford your place from one year to the next.

Take Your Time
You will need to ask hundreds of questions about an apartment before choosing to rent it, but these five are the most important when trying to figure out where you want to live. But because this is such a big decision, make sure to take your time, weigh all your options, and go with the place that makes the most sense for you.
Author Bio:
Liana Tanaka is a property manager and rental agent at 10x Living at Grandview in Austin, Texas. She helps renters find the right amount of luxury for their budget while also managing an apartment complex that has exceptional amenities designed to offer tenants an unparalleled living experience.

New Technology Helps Miami Real Estate Developers

miami real estate technology

Real estate developers in Miami are finding a number of new and interesting ways that they can utilize all of the new technologies available to help them with many different aspects of their business.

Benefits of Embracing Technology in Real Estate

Thanks to the power of big data and artificial intelligence, there are many who are now looking to more ways that they can use the technology as a means to analyze development deals they are considering and to analyze whether an acquisition would be beneficial or problematic for them. The technology makes it faster and easier to look into other issues, including the current and forecasted market conditions, along with regulations.

There are a range of applications and technologies available today that have the capacity to help real estate developers and professionals and to help to make their businesses more efficient overall. Let’s look at some of the ways that this technology is being put to use.

One of the most helpful functions is to help collect allowed uses, zoning regulations, infrastructure projects, and similar elements for various neighborhoods into a single platform or app. This can be helpful for many different areas of real estate, and it is sure to help increase efficiency. Currently, everyone who needs to have this information needs to look it up on their own, and they will likely need to use a number of different resources in order to do it.

Companies working in this field, such as Gridics.com, are making great strides in these fields. They are a development company that is working in the area of real estate data, along with analytics and application. The technology they are creating is software that ties together geographic information along with real estate information, all with the goal of making acquisition and real estate development easier.

Another company, called Deep Blocks, has been doing other work in this field. They work in artificial intelligence and have technology that has been used to create development analyses in a matter of minutes.

Consider how long this typically takes – week in most cases – and it becomes easy to see why so many are excited about the possibilities that these new technologies can provide.

Many are looking beyond just the initial development phase when it comes to incorporating technology. Artificial intelligence and big data could also help with many of the amenities that developers want to add to the condo projects on which they are working. One of the ideas that has been floated would be to use the tech as a way to anticipate traffic around the city, which would then allow the homeowners to adjust their schedules, as needed.

Another good example of technology being at use is the way the information is presented for a buyer or a seller to analyze the market, or a specific segment of the market, such as a particular residential area or a condominium building. Being able to analyze the information such as current availability in terms of the amount of properties for sale, the number of rentals and past history sales provide a clear picture of the market for any particular segment. A good example is Sunny Realty, a local Sunny Isles Beach real estate company – see company website here. Just click on any building on the left side and you will have all the information at your finger tips.

There are many ways that technology can be added to buildings in Miami and beyond, particularly with the new developments that are still in the works. It will be interesting to look at the way that these and other types of technology are implemented into the field in the years to come.

Sunny Isles Beach Real Estate in 2019

Sunny Isles Beach real estate

Sunny Isles Beach, Florida is a city located on a small barrier island bounded by the Atlantic Ocean on the East side, the Intracoastal Waterway on the West side, Golden Beach on the North and Bal Harbour on the South side. It offers about 2.5 miles of newly built most luxurious oceanfront condos with an average listing price of over a million dollars and ranging on the high end into tens of millions of dollars. Because of its ultra high-end condos, the city has earned several nick names such as ‘The Venice of America’, ‘The Florida’s Riviera’, ‘The Billionaire’s Row’ or ‘The Billionaire’s Beach’.

The concept of “condominium” living has been redefined by the new, brand-named condos offered in Sunny Isles Beach. These are more like private mansion in the skies, serving to the most discrete buyers looking for top amenities, private beaches, 5-star in-house dining, various sports and fun activities and spectacular views – the sunrise and the sunset as well as downtown Miami and the Intracoastal island life. Sunny Isles Beach also offers some of the most pristine single family homes located in an area called Golden Shores, which is situated directly across the street from the beach and offers easy access to major shopping in the area.

Sunny Isles Beach has always been thought of as a great investment community for many reasons – it offers top luxury condos situated directly on the beach, ample parks, warm tropical climate, warm Atlantic ocean waters, diverse culture, fine restaurants and great shopping are all within the short walking distance from your condo. The luxury condominiums turned Sunny Isles Beach into one of the most desirable places to own a home in the country, and you can ensure that Sunny Isles Beach real estate will continue to attract most sophisticated buyers in the world.

If you’re into activities, no matter what your sport of choice is, Sunny Isles Beach has it all – from various beach activities such as parasailing, jet skies, fishing, diving, boating or just sun-bathing – Sunny Isles Beach offers the best of all the worlds!

Although the luxury condo market, in most of the desirable areas such as Aventura, downtown Miami, Miami Beach, Key Biscayne, have experienced a slight drop in value in 2018, Sunny Isles Beach showed a 1 percent increase from the prior year. Year-over-year, the inventory marginally declined 2 percent from 1,541 listings to 1,510 homes for sale on the market.

Housing Marketing Predictions – 2019 – Sunny Isles Beach Florida

Since the area did see a drop in the past years, the area continues to grow which has led local governments to carefully examine and properly assess the real estate taxes and to get the correct outlook and forecasts on the future real estate market values in 2019. However, as of the beginning of 2019, the Miami-Dade continues to see decent gains in property values, mainly due to continued demand for single-family homes in the mid-range markets, where countywide, property values grew 3%.

The market has been very active during the last quarter of 2018 and into the beginning of 2019 which is a good indication for good things to happen in 2019. The higher-end properties however are still going to decline due to market correction in that segment. With the prices coming down 20 to 30 percent lower, the higher-end properties will become attractive again to investors and end users, so it will be a good time to buy again.

Sunny Isles Beach housing trends

The table below, taken from Zillow.com represents the real estate facts and average home values in Sunny Isles Beach.

Sunny Isles Beach Real Estate Facts

Total Homes for Sale: 1,617
Median Home Values Estimate: $405,800
Home Value Forecast: -1.9%

Average Home Values by City
Sunny Isles Beach – $405,800
Aventura – $342,900
Bal Harbour – $1,043,000
Bay Harbor Islands – $289,300
Golden Beach – $932,400

The median home values have risen from below $400,000 to $405,800 for the area. Although the home value forecast is still in negatives, with the new condos hitting the market in 2019, this for sure will change to a positive number by the end of 2019. With Sunny Isles Beach being not the most affordable, but surely not the highest priced in the area, next to Bal Harbour. It is expected that these prices are going to drop first before they start to rise again.

Sunny Isles Beach Insights 2018

According to the graph below courtesy of Trulia.com, Sunny Isles Beach is a very well-organized community that is dedicated to those that are living in the area. With the majority of those living in the area holding a degree, the area continues to be a favorite for those of all ages.

The housing market trends are also shown in the graph below provided by Trulia.com regarding Sunny Isles Beach condos and other properties for sale in the area. This provides more insight into the trends from the previous months leading up to this current month.

Sunny Isles Beach market report

According to the charts, the median sales price for homes in the area from October to Jan was $325,000 based on 97 different homes during that time. The price per square foot for the properties in the area was $321. This is a decrease of -5% compared to last year’s amounts. The decrease continued the trend to this year.

The median rent per month was around $4,000 between December and January, making it one of the bigger amounts in the area that is steadily going down in the cost per square foot to buy, while rent continues to be a large amount.

The trends continue to change with every passing month, making this something that continues to be talked about and investors continue to watch. With the prices falling low, the time to purchase real estate in the area is now. The prices per square feet are expected to rise again with the coming year according to numerous sources.

This additional chart shows the home values that are along the strip by the beach itself, providing further information and a graph that you can actually see the amounts side by side. This provides a good comparison for those looking to invest or purchase in the Sunny Isles Beach area.

Real Estate Appreciation

Neighborhoodscout took to tracking the Sunny Isles Beach real estate appreciation. This information was given to those that are looking to invest or purchase in the area and want to make an informed decision. According to the chart that they provide, Sunny Isles has many condos that have been performing above average.

The chart below, courtesy of Neighborhoodscout.com shows us that the top producing neighborhoods in the area are Collins Ave, N Bay Road, Bayview Drive, City Center and Bal Harbour Blvd. These areas are not only seeing a lot of development, but a lot of changes for the future.

Sunny Isles Beach real estate trends

The number of homes and apartments in the area is over 10,000 with a median value over $600,000. The renting is at an all-time high, coming in at $2,500 for the available median values. With homes costing this low to purchase, yet renting being as high as it is, many investors are quickly purchasing the real estate below the current market value.

Purchasing it prior to having the assessments done on the buildings can help those investors that want to get a great deal, get one before the assessments bring the property value and taxes much higher.

The current market shows that more condos and apartments are provided in the area over single-family homes. This is making it easier for those moving to the area to rent a place prior to owning one, if they ever wish to in the area. Over 50% of these apartments and condos are in the two-bedroom range, providing a decent size for a large rent amount.

Reasons to Invest in Sunny Isles Beach

1. The Beach
This brings everyone and anyone around when it comes to investing in something. You will find renters from around the country, around the world, that choose to make Sunny Isles their home just for the simple fact that it is by the beach. Investors can charge more for ocean-front properties.

2. Limited Supply of Homes
There is currently not a lot to choose from for those that are moving to the area. Many of the rentals are already being rented and some of them might not suit the needs of the person. By investing in apartments or condos, you can have a prime rental that can easily be filled. There is unlikely to be any new building in the area in the coming years.

3. Strong International Market
Not just those from the area like to purchase real estate on Sunny Isles. Those from other countries like to purchase luxury vacation homes that they can use during the off-months. Providing a way for them to rent these during those months, and then provide rent for other months to other individuals opens up numerous options to the investor.

4. Massive Rental Population
Miami alone is a massive rental market, but when considering the amount of people that want beach homes, the rental population becomes even larger. Some are unable to pay high prices to purchase homes, so they rent for a specified amount of time. Those that are living in the area are used to the high rental prices and willing to pay for them in a nice condo or apartment.

5. The Job Market Continues to Grow
As more and more people continue to look for jobs throughout the Miami area, many will move to this area, as the job market continues to grow. According to Simply Hired, there are over 30,000 new jobs that need to be filled with close to 3,000 of them being posted recently. This means more people will move to the area to find work.

6. Strong ROI for Landlords
Those that are renting to anyone coming to the area are going to experience a strong ROI on the investment that they make. There is a high demand for properties by the beach and Sunny Isles Beach is one of the premier destinations. This means having a lavish condo or a high-end apartment in the area is going to go for a decent amount of rent in the area. Throw in extra amenities, a pool, large deck and a backyard ocean and those renting the properties out are hitting a strong ROI.

7. It is Easy to Be a Landlord in Florida
Many states throughout the US have strict rental laws that landlords have to abide by when renting to someone. Florida does not have the same laws. They are a landlord friendly market and they ensure that you have the control if rent is not paid on time, or when there is damage done to a property. It doesn’t matter who you’re renting too, they ensure that all violations are taken care of; making is less of a burden for landlords.

8. Most Tourists and Residents are Renters in Sunny Isles Beach
Those that are coming to the area will need a place to stay. Many look for rental properties to turn into their vacation homes, regularly renting them every year at the same time. Those residents that live in the area will rent for some time because the prices to purchase may be too high or they may not want to deal with the costs of purchasing a home. Plus, renting also comes with amenities and extras, providing them with a care-free way of life.

Investing in Sunny Isles Beach Real Estate in 2019

Investing in Sunny Isles Beach condos and other properties continue to be a great choice to make. Not only is the area active and flourishing, but the prices are currently at its lowest point since 2012, making it an ideal investment. Additionally, adding in the cost of renting and you are easily able to rent the condos that you purchase, making up the costs that you’ve spent on them ten-fold.

Sunny Isles Beach has always been an investment playground for buyers across the entire globe. Not only that, but according to The Real Deal, Sunny Isles Beach is Miami’s new billionaire playground, bringing in a much luxurious, lavish crowd that these condos and rentals can tap into.