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.”

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.

New Technology Helps Miami Real Estate Developers

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.

The Definitive Guide To Real Estate Investing

sunny isles real estate prices

The housing prices keep increasing year after year, sometimes by just few percent, sometimes into double digits, but nevertheless, it always increases in some parts of the country, mainly in the big coastal cities such as San Francisco, New York, New Jersey, Los Angeles, Miami, Washington DC, etc. The growth may be due to low mortgage rates, high demand which causes tightening inventories and sometimes because of the growth and popularity of the city.

GoBankingRates recently published that Buffalo, New York gained over 34%.  Atlanta, Georgia is another example of an unprecedented growth – over 24.5% and Cincinnati, Ohio grew by over 20%.

The one thing is always true when it comes to US real estate – it will keep growing year after year, like it has done since the beginning of the history.

Some cities experience steady growth year after year, like San Francisco, California, others keep spiking up and down, like Manhattan, New York. Some will take you on a roller-coaster ride, like Miami, Florida. Nevertheless, the time to invest in US real estate is now and the market presents great opportunities.