South Florida condo market faces headwinds amid the new construction boom

Going forward, real estate brokers increasingly see the newest South Florida condo boom as an efficient way to recoup some of their perceived lost income from the last market downturn. The unanswered question is whether these same real estate brokers will put their clients’ needs ahead of their own personal goals.

The big chill: downtown Miami’s condo market faces first price dip in 5 years. integra reported that construction debt is becoming too expensive, which means fewer projects will get off the ground in the next year, and those that do launch will be from developers rich with equity.

According to a Bloomberg report, a third of the condo units in newly built high-rises are already back on the market, and "it would take 29 months to sell the 3,397 condominiums available in the downtown area, according to South Florida development tracker CraneSpotters.com." Bloomberg goes on to note that many wealthy Latin American buyers who piled into the market are now trying to unload their investments while the US Dollar is strong and before the additional 8,000 units under.

The South Florida condo market isn’t an entire bear though according to real estate expert Richard Swerdlow, CEO of Miami based Condo.com. "Although we are experiencing soft prices and distress in certain projects in the South Florida condo market there is still demand for condo units here" says Swerdlow.

Weekly mortgage applications fall as interest rates rise to highest level in a month Mortgage Activity hits 2-month high as Interest Rates Fall; The Washington-based group’s seasonally adjusted index on mortgage applications increased 1.6 percent to 346.0 in the week ended dec. 7. This was the strongest reading since the week of Oct. 5 when it was 346.7.

In South Florida. flooding. Market forces, though, mean the demand for waterfront property in tropical locations is likely to stay strong, and plenty of luxury homes are on the way. An estimated 11.

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3 Trends in South Florida Construction for ’15. 2) Demand isn’t slowing. Brian nevertheless anticipates that robust South Florida construction demand of ’14 will intensify throughout ’15. The Miami-Dade market is leading the way, especially in the residential condo market, which is spurring growth in retail and other markets.

It would take about three years to sell all the new condos on the market at this pace. It would take about three years to sell all the new condos on the market at this pace.

After a two-decade boom. New York real estate. That, along with the rising dollar, could dissuade at least some foreign billionaires from shelling out $50 million on a penthouse. Indeed,

Jumbo Mortgage Market Inflates Should I Save More for Retirement or Pay Down My Mortgage? Mortgage Masters Group Three financial experts weigh in on the ever-evolving debate on whether you should pay off your mortgage early – or put your money to work in other places.. pay down your mortgage, here are.