Here is the reality in Miami property: the market has shifted. Inventory is going down every day and as a result prices are going up. And now you are probably asking, "Does that mean I missed the bus?"
If you are thinking of coming to Miami to buy a property, there are a few things that you need to know before you arrive so you can plan accordingly. I want to divide the process of buying a property in Miami into three phases to make it easier for you to plan ahead.
I don't want to get all philosophical here, but some buyers get to a point where indecision can paralyze them and even kill a deal. Are you one of them? Let's get real here--It could be the most important and biggest investment of your life.
If you are an international buyer interested in Miami, one of the things you need to decide is what is more important for you: annual return on investment or return on the value of the property? What is the difference?
If you are an international buyer looking to buy a property in Miami, there are three steps to help you achieve success. Step 1. Search. Most people think that the process starts with the search for the property.
We have heard many times "money is king," but in Miami timing is what matters most right now. About a month ago I was showing properties to a client with a very tight budget. We could find only six properties in his price range.
Last week I was working with an international client looking to buy a property in Miami, and they asked me to find something completely unobtainable--a 3-bedroom condo in South Beach for $170 per square foot.