Miami Investment Properties Improves Due To Condo Boom

Miami-Dade County is enjoying a steady rise in Miami investment properties as local and international investors bring out their portfolios in various condo projects in the state of Florida - flooding the market with high-end investments that many consumers would want to get their hands on.

According to Miami realtors, the success of St. Regis Bal Harbour Resort & Residences pushed many developers, local and international investors, and real estate firms to open up their avenues in the condo business.

As it stands, there has been news of ten new condo towers in the works with more on the way if the current market trend stands. One realtor commented that the condo boom would be here to stay for quite a while, ensuring that 2013 would be a boon to buyers and developers with the following years becoming more lucrative as real estate projects pour in.

Miami Following The Trend

Miami also benefited in the recent condo boom caused by the opening of St. Regis. Miami investment properties are seeing a large influx of developers and investors which many realtors are happy to see. Projection shows that late 2013 and early 2014 would reveal many construction projects due to the condo boom and would open to the public for acquisition sometimes early 2015.

Prices Going Up

Miami real estate is expected to see a semblance of growth as median prices of condo units rise spurned by the condo boom in Bal Harbour-Surfside. Statistic shows that resale of condo unit average at $230 to $260 per square foot before the condo boom arrived -- this was between 2005 and 2008. However, median prices rose to $270 to $300 per square foot when St. Regis opened its doors to the public.

Some realtors speculate that Miami investment properties on condominiums would see much larger growth if the current trend continues as local and international buyers joined in on the current fad.

Despite prices going up, Miami real estate saw a rise in acquisition - resale and foreclosures - that wouldn't be stopping anytime soon even if new condo towers appear out of the blue.

Wise Investment Opportunities

Property buyers who want to take advantage of the current trend would find a lucrative market in Miami investment properties. Despite prices being on the rise, it is still low enough for an affordable acquisition but not high enough to merit financial meltdown. Due to the influx of interested parties willing to put a hand in the acquisition of Miami condos - whether in Miami-Dade or South Florida in general; experts advise investors to keep an open mind in what they plan to buy in order to get the most out of the market.

William W. Teho, Jr.
Miami Investment Properties

Making the Most of Living in a Condo

Most people, at some point in their lives, will find themselves living in a condo for a period of time. Sometimes this is due to cost concerns, and other times it's an option for individuals who want to live conveniently. While there are compromises that have to be made when living in a condo, there are advantages as well. Here are some of the best ways to live happily in a condo.

Decorate Mindfully

Because there is only a limited amount of space in a condo, you have to make the most out of what you have. Cluttering your apartment with too much furniture will make your space seem even smaller. Instead, you have to choose your furniture pieces mindfully. Only include items that are essential, such as a dining table, a couch, a bed, some chairs. In each individual room, place just a few pieces that add character and personality. You'll find that in a condo, less if definitely more.

Enjoy your Amenities

Condos usually come equipped with a gym, a pool, and other amenities. Make the most out of your building and take advantage of these perks. You are usually paying for these amenities via strata fees, so you might as well make the most of them. It will also get you out of the confined space of your apartment and out socializing with other people in your building.

Get Out Often

Most condos are located in busy or popular areas. Take advantage of this close proximity and enjoy your neighborhood. Go out for dinner often, go for long walks, window shop, and get to know the area. More often than not, you are paying for the area you are living in, not the specific apartment itself, so get out there and enjoy!

Look for Community Activities

Although condos are convenient and they house a lot of people, they also contribute to a lot of isolation. People tend to stay in their apartments and very rarely get to know their neighbors. Because of this, community centers often have social gatherings so that people can feel more connected. Look for activities around your neighborhood that you can attend. This is a great way to get to know people and to expand your existing group of friends.

Living in a condo comes with many advantages. In order to ensure that you make the most out of your experience, make sure that you decorate your apartment mindfully, enjoy your amenities, get out often, and get involved in the community. This will enhance your experience and make the most out of condo living.

Go South Young Man - A Manchester Landmark Takes the Next Step

In 2003, a group of investors took a collective breath and convinced themselves that the wave of the future in Downtown Richmond was... SOUTH.

Blasphemy.

"No right-minded Richmonder would want to live in Manchester" was the common thought. "We had to PAY SunTrust to stay" was the mindset among those 'in the know.' Residential development in Manchester would not work.

Flash forward to 2010 and you will find 1000 separate residences in the industrial Manchester. You will find one of the most amazing commercial offices in the city in the Commons at Plant Zero. You will find one of the most intriguing creative flexible office environments at The Corrugated Box Building. You will find apartments and condos and flats and lofts and studios and restaurants and bars.

You will also find the building that started it all, Warehouse 201.

What makes the W201 story so interesting is that it was literally the first building renovated using historic credits in industrial Manchester. It was also the first RESIDENTIAL option in industrial Manchester at the time. What was once a 5 story concrete warehouse building, while only steps from Shockoe Bottom and Shockoe Slip, alone on its own, is now the gatekeeper to over 1000 residential units that have come to life in only the last 7 years. That is pretty incredible.

The development momentum that was initiated by Warehouse 201 in Manchester has now spread to much of the district smaller and mid-sized buildings. Dwarfing them all is the Reynold South Plant site which abuts the property to the south. 17 acres large with over 400,000 square feet of historic warehouse structure to renovate, South Plant is poised to change the landscape in Richmond.

While I doubt that Warehouse 201 will go down in the history of Richmond real estate, it probably should. In 2003, Richmond, Virginia, especially the Downtown market in Richmond Va was a lot different than it is today. Condo projects such as The Vistas on the James, Riverside on the James, The Reserve, The Emrick Flats, The Marshall Street Bakery, Old Manchester Lofts, 2C and Miller and Rhodes were not built. For the most part, these projects had not even been considered. Convincing a bank that building a bunch of flats in an area where no one lived, across the River that so divides our city was a risky endeavor, for sure. Building it in a minimalist industrial fashion was nuts. Or was it?

The successful re-positioning/vitalizing/development of Manchester had to begin somewhere. It began at 201 Hull Street in 2003 at Warehouse 201.

Essential Steps When Purchasing a Condo

Whether you're purchasing your first condo or your sixth, it's important to be mindful and to make informed choices. Open houses and apartment showings can be deceptive sometimes. The nice food spreads and the soothing voices of the real estate agents can cloud your vision when it comes to purchasing a condo. In order to make the most informed decision you can, follow these simple steps.

Narrow Down What You Want

Before you even start your search, make sure that you know exactly the type of condo you're looking for. Are you wanting a downtown unit in a trendy area or a larger apartment for a small family? Figure out what your priorities are and decide on what you need and what you can do without. The more specific you are in your choices, you better your prospects will be.

Find the Right Agent

The best agents are the ones that specialize in one or two types of properties. Once you know what kind of apartment you want, then you should start looking for an agent that deals specifically with this type of property. Ask your friends and colleagues for suggestions. Do an extensive search on the internet. Hold interviews with prospective agents. The more research you do, the better able you will be to find the perfect agent.

Ask for Many Options

Once you've found your agent, ask them to look for many properties. Don't let them just show you one or two units. Ask for at least five suitable options and remind them that quality is key. By looking at many properties, you can narrow down the units that best suit your needs.

Figure out a Condo's Reputation

An already existing condo is bound to have a reputation attached to it. If you think you've found your perfect unit, don't put down a quote immediately. Ask the residents what they think of the building they're living in. Note if most of the residents are long-term or short-term. If you notice that a lot of people come in and out of the building, there might be sometime questionable about it. However, if you notice that most of the people who live there have stayed there, then you might have a great apartment on your hands.

It can be very exciting to buy a condo, especially if it's your first one. But you have to make intelligent choices and not be swept away by the experience. Figure out what you want, find an agent that can give it to you, and find a suitable building. Taking the time to make the right choices will ensure that your unit will give you satisfaction for many years to come.

Condo Living: Five Ways to Beat the Winter Blues

Those of us who live in areas where the winter weather is cold and snow covers the ground have at least some appreciation for the change of seasons. We may not love it, and we may get sick of it, but we might just find we miss it, even a little bit, if it were gone. At the same time, we have a couple words to describe what we sometimes feel during long strings of cold: winter blues. Following are five ways for condo owners to beat the winter blues.

1. Get some exercise. Clearing snow, whether via shovel or snowblower, is not that fun. But at least it is a way for single-family homeowners to get some exercise during the winter. Condo owners do not have that option. But exercise is a good way to stay in a positive frame of mind, so make it a point to climb the stairs, or take the long way when you walk home from work.

2. Plan a vacation. Sure, clearing the snow may get single-family homeowners some exercise, but it also ties them down. Condo owners do not have such obligations. They can pack up and get out of Dodge without worrying about how the mailman will get to the mailbox, or if the house will stay warm enough while they are gone. They can just pack up and go. And we all know how vacations, even short ones, to warm-weather spots really can do a person good.

3. Take advantage of your surroundings. By virtue of their urban locations, condo owners have access to a virtually unlimited supply of entertainment options. So even if you consider yourself a homebody, get out and see what the city has to offer. You may find a restaurant unlike any at which you have eaten before, or museum with an unforgettable exhibit. At the very least, you get out of your condo and get some fresh air.

4. Use your amenities. If your condo building has amenities like a pool and fitness room, take advantage of them. Not many people have such easy access to pools, fitness rooms, and other amenities that get your blood pumping. And the best part of all is you do not even have to go out into the cold to use them.

5. Take up a winter sport. Cross-country skiers love the winter because it is the only time they can partake in the activity. Same with downhill skiers. And ice-skaters. And those who like sledding. Sure, you probably will have to own some equipment, or rent it, but if you are willing to try new things, it is quite likely you can find a new winter activity very close to home.