| South Beach
South Beach, the well-known, exciting and rapidly growing community
of Miami Beach in Florida, has been called the Art Deco Playground
of the country. South Beach is also known as America 's Riviera
. Small wonder— South Beach is almost an island, with the
Atlantic Ocean on one side and the broad Miami River on the other.
The beaches are incredible and seem to go on forever. It's the
perfect place to relax and to play. more...
The Biltmore in Coral Gables Florida
Downtown Miami
In 1896, Henry Morrison Flagler brought his Florida East Coast
Railway to Miami in order to build the luxurious Royal Palm Hotel
and lay out the city. Miami was founded on real estate investment
and development potential and Miami continues to live up to and
fulfill those dreams. more...
Pre construction in Miami is Booming!
Miami is by far one of the hotspots to live in the world. This
multi-diverse city is known for its phenomenal weather, enticing
nightlife, and its meticulously constructed modern buildings.
Miami Real Estate is at its peak and everyone wants a piece of
the action! With this in mind, Miami pre construction has become
a booming business. Many of these Miami Real Estate buyers are
full time Florida residents, North, and South Americans. But
considering many buyers in this demographic are interested purely
in vacation homes and investment purchases. These buyers have
also reached out and grabbed a piece and rightly so! What is
the big hype about investing in Miami pre construction? The answer
is as simple as this, to make a return on your investment. But
there are various factors determining your return. First of all,
the Downtown Miami Real Estatepurchase price, generally, the
earlier you purchase your unit the lower your cost will be. The
developer price increases. Most developers sell their projects
in various phases and raise the prices as the project grows.
For example, a person who buys in phase one of the project may
have paid a considerably less amount than a person who bought
in another phase of the project. The lack of carrying costs -
aside from the down payment that is required when an investor
goes to contract, there is no other out of pocket expenses. Examples
are mortgage, maintenance, insurance, and taxes. In other words,
an investor can take advantage of the increasing prices potential
and not pay anything to carry the property. The general economy
is also a factor. The law of economics dictates that the prices
rise when there is more demand then supply and visa versa. Lack
of land to build on and increase in population is also reasons
for price increase. With a ranging appreciation of 25% to 35%
each year, a good time to invest in a pre construction condo
would be now. Absolute Bay Lofts is a good example of a pre construction
loft condo made available to the public. This exceptional building
contains “industrial lofts” with over 15' ceilings,
a view of Biscayne Bay water, and oversized windows. The appliances
are the utmost modern with designer fixtures. The amenities are
out of this world not to mention the rooftop pool and gym. Absolute
Bay Lofts are breaking ground this year and expected delivery
is in the fall of 2006.
Miamirealtyfinder.com has experienced local realtors that can
assist in finding the perfect Miami pre construction project
for you. Like the 22 story Apogee which sits on the tip of South
Beach on Cruise Ship Alley and the oceanfront side of Fisher
Island. With 68 total residences, the Apogee is the brain child
of Jorge Perez who is known for many icon buildings in South
Beach. Apogee buyers, however, will be able to have units built
to their specifications. Luxurious Apogee living should be complete
in mid 2006. There are several steps in the pre construction
process. First, the investor must sign a reservation agreement
and then put down a deposit (fully refundable). This amount is
different for each developer. Once the developer is approved
from the local government you will be asked to enter into a contract.
After a certain time period the contract becomes “hard”.
Generally the developer requires a down payment on the property
being built (from $1,000 to 20% of the total price of the unit).
Many developers allow investors to assign their contract to other
purchasers but some developers do not. If the property is not
sold before completion the investor must close on the property
and then sell, rent, or use it themselves. The real estate agents
at Miamirealtyfinder.com know how quickly Miami pre construction
is moving. They have provided themselves with the proper training
to help assist their customers through all of the phases of finding
the best pre construction property for themselves knowing what
a wise investment choice they are making when purchasing pre
construction in Miami.
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