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2022 Price are over the roof!

PRICES ARE THROUGH THE ROOF

Are signs of a housing bubble aligning yet? One thing is for sure, it's brewing. We’re in the 9th quarter post-pandemic and it looks like the phenomenon we observed ever since March 2020 didn't stop thus far.

The housing crash in 2007 is still pretty vivid in the American population’s mind. It feels like it was yesterday some might say. Therefore, early detection of eventual signs is to be taken seriously since we're witnessing an unprecedented situation for the past couple years.

What makes South Florida look this expensive lately is also the gap in prices. In fact, Florida was well known for being relatively cheap compared to other states, in consequence it looks like prices are even higher than what they are. For the past decade, Europeans, Canadians and South Americans were buying holiday houses whilst the price growth remained steady. This year, we've seen more American citizens from out-of-state buying in Florida.

The latest prices are called “exuberant” by some researchers. This effect is mostly due to the rush buyers are in when it comes to buying. The fear to see the home you want get a higher price or be sold to someone else makes prospective homebuyers ready to accept high amounts. Inventory is hitting some of the lowest level ever, which pushes buyers to keep on this frantic buying pace. As a result, it makes price rise in such an exponential way.

In brief, the market is under serious surveillance by every decision maker to avoid irreversible damage on the economy in case of a correction.

DISCOVER THE CIPRIANI CONDO IN BRICKELL I would like to present you this lavish pre-construction about to be delivered in 2024.

 The Cipriani Residences located in the buzzling Brickell will become one of the highest skyscrapers in Miami. The Italian-inspired condo is about to take over the city, with the most luxurious list of amenities such as the state-of-the-art fitness center, a holistic spa with sauna and treatments rooms. You will experience the golf simulator, as well as the pickleball court, the four-level wellness center, and lounge overlooking the Brickell skyline. Residents will have access to the private dining rooms and the signature private dining experiences by Cipriani.

The luxurious condo provides with:

🠢 One Bedroom+ Den starting at $900,000

🠢 Two-Three Bedroom + Den residences starting at $1.2M

🠢 Four Bedroom residences from $4M

This wonderful lifestyle is waiting for you! Find below the deposit breakdown structure for prospective buyers: $100,000 upon signature of Reservation Agreement - 1BR + Den

$150,000 upon signature of Reservation Agreement - 2BR + Den

$200,000 upon signature of Reservation Agreement - 3BR

$250,000 upon of signature of Reservation Agreement - 4BR

20% At Contract (difference)

10% At Groundbreaking

10% At Top Off

60% At Closing

For more information, click here The Cipriani Residences Condo.

WHAT ABOUT PROPERTY TAXES?

Becoming a homeowner ultimately is a part of the American Dream. Lately, the price surge is hitting throughout the entire buying process. The first instinct when an individual wants to buy a home would be to naturally look at the property price and eventually the mortgage amount. However, it’s important to remember there are other aspects that need to be considered like the maintenance fees, the insurance and finally the property taxes. Surprisingly, in Florida property taxes have risen very slowly in opposition to home prices. For 2021 the single-family homes surged 16% throughout the country! In the meantime, property taxes have on average risen of 1,8%.

The yearly budget is heavily impacted by it and should be calculated ahead of any purchase, or at least estimated. Nowadays the Northeast as well as the West Coast are among the most expensive areas when it comes to property taxes.

MAY CALENDAR IN MIAMI

This month once again, Miamians have a lot of events to choose from. Discover my selection for May:

THE PRODIGAL SON [MAY 6-7-8]

The Miami City Ballet at the Arsht Center is presenting the famous choreography by George Balanchine for 3 days only. The company will perform in Ft. Lauderdale on May 21st -22nd as well. MIAMI F1 GRAND PRIX [MAY 6-7]

Formula 1 at its best! Whether you're a fan or just enjoy sport event in general, this Floridian Grand Prix will bring everyone together with a handful of events like live music and interactive events. SAVOR SOFLO FEST [MAY 1]

Take part in the marvelous festival directly happening on the Hollywood Broad Walk. A bunch of local vendors gathered to celebrate the culinary art. MIAMI INTERNATIONAL PIANO FESTIVAL [MAY 22]

Markets are always a good idea, aren't they? This one is in the heart of Miami Beach and offers a variety of stands to content everyone. Take advantage of this event to enjoy a Sunday on the beach!

PRETTY WOMAN THE MUSICAL [MAY 4-15]

Discover the most famous Hollywood love story on stage at the Broward Center in Ft. Lauderdale. For the foodies, discover my monthly recommendation:

âž” MOLOKO: the cocktail selection has to be the most elaborate in Miami! The terrace garden is absolutely stunning as well as the intimate indoor area. I love this new restaurant and i think it fits perfectly in the heart of Sunset Harbour. If you are a fan of Call me Gaby like I am, well this is a good fit for you too.

DEAL OF THE MONTH: Yacht Club at Portofino #2009

Price: $1,250,000

2 bedrooms / 2 bathrooms

Remodeled condo

Ocean view

1,080 sqft

South of Fifth

Spacious & bright unit