Phone: 954.707.6252 & 954.363.1115
Email: info@billyandalix.com

Category : South Florida Real Estate Market

Sotheby’s International Realty Recognized as 2017 America’s Most Trusted Residential Real Estate Brokerage

Sothebys Most Trusted

Sotheby’s International Realty ranks number ONE, the highest in trust among residential real estate brokerage brands in United States according to Lifestory Research, America’s Most Trusted® 2017 Residential Real Estate Brokerage Brand Study released today. Sotheby’s International Realty is the best luxury real estate brand founded in 1976 by the Sotheby’s Auction House.

The study, based on 6,299 consumer surveys, tracks how trust impacts the evaluations of residential real estate brokerage brands by home shoppers. Lifestory Research tracks the largest residential real estate brokerage brands in this ongoing study. The brands included in the ranking list are based upon those brands most recognized by consumers.

Trust is measured through the Lifestory Research Net Trust Quotient Score in which each brand is evaluated in regards to trust by those shopping for a new home. An index score of 100 is average for all brands included in the study.

As the 2017 Lifestory Research America’s Most Trusted® Residential Real Estate Brokerage Brand, Sotheby’s International Realty produced the highest Net Trust Quotient Score being number ONE, followed in order by (2) Berkshire Hathaway Home Services, (3) Better Homes and Gardens Real Estate, (4) ReMax, (5) Keller Williams Realty, (6) Prudential Real Estate, (7) Century 21, (8) Realty One Group, (9) Coldwell Banker, and (10) ERA.

America’s Most Trusted®, in its fifth year, is a designation awarded to brands that garner the trust among those they serve. Awards are based upon the collection and evaluation of thousands of consumer opinions. Product categories included in the 2017 research program include: home builders, active adult resort home builders, faucets, HVAC systems, kitchen appliance brands, laundry appliance brands, paint, and residential real estate brokerages. Trust is measured through a Net Trust Quotient Score in which brands are divided into three categories: “advocates,” customers who feel a significant trust toward the brand; “neutrals,” those who trust a specific brand, but do not see a specific brand as standing on the shoulders of other brands; and “antagonists,” who are skeptics with little, if any, trust in a specific brand.

Source: Visit www.lifestoryresearch.com for index scores and study details.

Sales Remain Strong in Broward County

Prices remain strong in Broward County

Broward county home sales are up for both sales and prices during June, according to a new report from the Greater Fort Lauderdale Realtors association.

A total of 1,635 condos and townhomes were sold in Broward last month, marking a 4.4 percent jump in closed deals year-over-year. Single-family homes saw a slightly higher 4.8 percent jump in sales, coming out to 1,805 properties sold.

Housing prices continued their steady rise during June. The median price for condos and townhouses hit $149,250 last month, spiking by 10.4 percent year-over-year. Single-family homes had a more moderate price increase of 7.3 percent, standing at a median of $325,000 in June.

While both sectors of the market grew during June, the association’s figures show Broward’s true strength is in its single-family homes. Dollar volume for home sales hit $682 million in June, more than double that of condo’s $307.8 million. And for the past 12 months, year-over-year home sales haven’t fallen once.

Statistics and article provided by The Real Deal and Miami Herald

For more information contact us at contact@alixandbilly.com

 

Breaking Record ONE Sotheby’s International Realty

We are thrilled to announce our latest market share stats from the first half of this year showing that ONE Sotheby’s International Realty just broke record being number ONE.

ONE Sotheby’s International Realty is number ONE in Broward for all residences over $2.5 million USD and number ONE in Miami-Dade for all residences over $1 million!

This is a great accomplishment for ONE Sotheby’s International Realty and our team.

Forbes Magazine named Fort Lauderdale one of the Best buy cities in 2016

Ft Lauderdale Best Buy

 

If you are looking to buy a home in 2016, Fort Lauderdale might be the right place to buy.

Forbes Magazine released its 2016 list of Best Buy Cities and Fort Lauderdale came as number seven (7) of the top twenty.

Real Estate reporter with Forbes wrote: “Each of our Best Buy Cities boasts healthy job growth, strong population growth, and anticipated home price appreciation.”

With a 20 percent home price growth forecast over the next three years, 3.2 percent annual jobs growth (contributing to Fort Lauderdale also being named one of the best cities to find a job in 2016), and 4.5 percent three-year population growth rate, buying a home in Fort Lauderdale known as the Venice of America could be a good idea.

With twenty cities on the list, Florida, proved to be providing buyers good value. The six other cities were Orlando (No. 2), Cape Coral (No. 10), North Port (No. 12), Tampa (No. 14), Jacksonville (No. 18) and West Palm Beach (No. 19).

With an economy that has stabilized and in the process of growing, Fort Lauderdale becomes one of the favorite places for vacation, retirees and a desirable place to live.

Foreign buyers chose Florida

Did you know that in 2015… 36 percent of Total home sales in South Florida came with a $6.1 billion investment from International buyers?
Foreign buyers chose Florida above other states when buying homes from September 2014 to August 2015.
The survey covers Miami-Dade, Broward, Palm Beach and Martin counties, with Florida leading the country with 21 percent of the nation’s foreign purchases. Miami and Fort Lauderdale accounted for a whopping 50 percent of the state’s foreign sales.
It seems that foreign buyers tend to spend more than domestic buyers, according to the report. And 75 percent of their purchases are made with all cash.
In Broward, Canada and Venezeula, Colombia, Argentina, Brazil, India and Russia led the list, in Miami-Dade, Venezuela, Brazil, Argentina, Colombia, and Italy Mexico were the biggest international buyers. And in Palm Beach, Canada and Brazil were the top countries of origin for real estate buys.

2016 TRENDS Luxury Market Report in South Florida

2016 Trends Luxury Market Report

Take a moment to read and review the latest Trends of what is happening in the Luxury Market in Miami, Fort Lauderdale, Lighthouse Point, Lauderdale By the Sea, Sea Ranch, Hillsboro Mile, Coral Ridge and in general in Broward County.

This is an exciting time for Buyers and Sellers in the Luxury Market. Learn about all our new projects and what we have to offer.

The time to invest in Real Estate in Fort Lauderdale is Now!

North Beach Village Fort Lauderdale

According to several articles and different information obtained since 2014, 2015 and 2016 we believe Fort Lauderdale is in the process of growth, which shows that the investment may be more favorable in Fort Lauderdale right now due to the $ 1.3 billion being invested in East part of Fort Lauderdale. This is partially based on new construction developments trying to meet the demand that a luxury market has. Among these projects are The Gale Residences, the Four Seasons, Auberge Beach and Residences and Paramount Beach.

If we compare Fort Lauderdale to Miami prices per sq ft, in Miami they have a difference of 261% higher as compared to Fort Lauderdale where it is cheaper and still has not reached the peak moment as Miami and its neighborhoods. (Article in Ocean drive).

If we compare Fort Lauderdale with some cities in Palm Beach County, Fort Lauderdale it is the one that can perhaps offer a better return on your capital in Real Estate or at least a little higher. Just last week, Forbes magazine named Fort Lauderdale as one of the best cities to buy real estate in 2016, with an expectation of 20 % growth in prices in the next three years, and other factors that make Fort Lauderdale a good place to invest. To be exact West Palm Beach was recognized as the number 19 compared to Fort Lauderdale city number 8.

In 2014 Fort Lauderdale was recognized as one of the most “exciting” cities in “midsized cities”. And downtown Fort Lauderdale was named as one of the top 10 in US downtowns. All within a mile and a half from the Gale Residences, Auberge Beach Residences, Four Seasons and Paramount Projects.

At the end of 2017 the “High Speed Rail” – “All Aboard Florida” transportation is expected to be completed and to be connecting the downtowns of Miami, Fort Lauderdale, West Palm Beach and Orlando. This could be a mayor disadvantaging for cities like Aventura, among others that will not have the great movement of passengers, residents and workforce who will use one of the best transportation systems in Florida. Fort Lauderdale located at the midpoint, indicates that probably people are going to choose it to work, live and vacation In the near future.

According to statistics from ISG in their latest report informed Fort Lauderdale attracts around 14.3 million visitors a year and hotels are 88% sold out according to statistics Sunny.org. It is one of the metropolitan cities with the highest growth, in addition to the famous beaches, the beautiful scenery of the Intracoastal Waterway, excellent nightlife, with Sawgrass 30 minutes away and Galleria mall which it is also in the process of being expanded.

All these projects are relatively close to the airport in Fort Lauderdale which has an investment of 2.3 billion in renewal and growth of international flights direct from countries like Norway, Denmark, Sweden, United Kingdom, Colombia and many other countries and important cities in US. Aventura is between the airport of Miami and Fort Lauderdale but with the level of traffic in Aventura some international businesses may not see it as an interesting point.

Fort Lauderdale is the “Venice of America” 33,000 + miles of Intracoastal waterways and canals make Greater Fort Lauderdale “the Yachting Capital of the world and the Venice of America.” The famous “International Boat Show” in October had more than $ 4 billion of boats and marine products and 130,000 visitors in 2014.

Port Everglades in Fort Lauderdale is very important to the economy including the large amount of cruisers that use Port Everglades as major port with a record of more than $ 153 million with high revenue.

The city is investing $ 78 million to renovate the Fort Lauderdale beach along with other attractions.

In conclusion, the time to invest in Real Estate and new construction in the Greater Fort Lauderdale is NOW. With so much investment in the city it is clear that the city is still growing at a relatively stable economy.

This information was obtained from articles published in Ocean Drive, Sun Sentinel, ISG World Report, BrowardPalmBeach.com (Fort Lauderdale among Top Ten) and (Fort Lauderdale Named Seventh most exciting midsize cities), All Aboard Florida and Sunny Org with visitors statistics and Forbes Magazine that Names Fort Lauderdale One Of 2016′s Best Buy Cities.

For more information in new Construction projects please contact us at 954.363.1115 or via email @ Contact@BillyandAlix.com

Florida still Top Destination for International Buyers!

Flarida Still Top for Buyers NAR

According to the National Association of Realtors and their 2015 Profile of Home Buying Activity of International Clients, in 2014, U.S. foreign homebuyers purchased fewer properties year-to-year, but they spent 13 percent more money on the transactions they chose.

“In 2014, sales transaction to buyers outside of the U.S. dropped 10 percent, possibly due to the strengthening of the U.S. dollar in relation to international currencies and weakening foreign economies,” says NAR Chief Economist Lawrence Yun. “However, the amount of money spent has increased. This means international purchasers in the U.S. have become an upscale group of buyers, spending more money on fewer homes.”

Florida continues to lead the U.S. in total unit sales to foreign buyers, but its numbers dropped a bit in 2014, according to NAR. One in five foreign buyers (21 percent) bought a home in Florida, compared to 23 percent one year earlier. The number is down from a 2011 peak of 31 percent.

The change, in part, results from a change in the makeup of foreign buyers. While Canadians tend to favor the Sunshine State, the weak Canadian dollar has made Florida purchases relatively more expensive for them. In addition, Chinese demand has skyrocketed, though the Chinese tend to pick locations along the Pacific Coast.

In 2014, five countries accounted for 51 percent of all purchases by international buyers: China, Canada, Mexico, India and the United Kingdom.

For the first time, buyers from China exceeded all other countries in terms of units purchased and dollar volume, buying an estimated $28.6 billion worth of property. Buyers from Canada followed with $11.2 billion in purchases, followed by India with $7.9 billion, Mexico with $4.9 billion and the U.K. with $3.8 billion

For the period of April 2014 through March 2015, total international sales were estimated at $104 billion, compared to the previous year’s estimate of $92.2 billion – 8 percent of the total U.S. existing-home sales dollar volume.

International buyers tend to purchase more expensive properties with the average purchase price being $499,600, compared to the overall U.S. average house price of $255,600. Chinese buyers typically purchased the most expensive properties, at an average price of $831,800.

Thirty-five percent of Realtors reported working with an international client in 2014, up from 28 percent in 2013.

About 46 percent of reported international transactions were intended for primary residences, 20 percent for residential rentals, and 26 percent for investment rentals, vacation homes or both. Global buyers also purchased properties for commercial rentals and as residences for children studying in U.S. educational institutions. Indian buyers were the most likely to purchase a primary residence (79 percent), while Canadian buyers were most likely to purchase property as a vacation home (47 percent).

While Florida remains the top destination for international buyers, California comes in second with a 16 percent share, Texas with 8 percent and Arizona with 5 percent.

The majority of international purchases (55 percent) were made with all-cash, compared to about 25 percent of all purchases made by domestic buyers. Mortgage financing tends to be an issue for non-resident international clients because of a lack of a U.S. based credit history or Social Security number, difficulties in documenting mortgage requirements, and financial profiles that can be different from those normally submitted to financial institutions by domestic residents.

“Realtors who have completed NAR’s Certified International Property Specialist designation have obtained specialized training and are best prepared to help clients with the unique challenges of being an international property buyer,” says NAR President Chris Polychron.

NAR has posted the free 2015 Profile of Home Buying Activity of International Clients on its website.

Article provided by the National Association of Realtors

Trends – South Florida Real Estate Market Report 2015

Trends 2015

Our latest 2015 South Florida Real Estate Market Report (Trends 2015) differs from prior ONE Sotheby’s International Realty market reports in the analytics models developed in conjunction with IRR Miami.

The 2015 Real Estate Market Report cannot be compared to prior annual or quarterly reports due to changes in the manner in which the metrics were developed for singlefamily and condo developments.

Prior reports on single-family pricing relied on price averages which excluded certain classes of assets based on price thresholds.

The current model abandons the variable minimum price threshold view so that averages over time are not skewed by elimination of transactions beyond a threshold and changes in market conditions do not skew the directionality of the market averages.

The most significant change in methodology is the development of the condominium index. The difficulty in comparing existing condominium project average pricing is that the pricing averages have no control over penthouse units, waterview versus waterfront or age and market position of the product. ONE Sotheby’s International Realty and IRR Miami developed an index of relevant condominium towers that comprise what we consider to be a representative sample of the luxury projects within each submarket. The inclusion of each project was vetted by brokerage and appraisal staff from the respective firms and the sampling reflects the center of the luxury market as it relates to the specific submarket.

Average pricing data was then calculated for each of the relevant years by submarket and unique units were excluded from the sample to avoid skewing the average price indicators. The implementation of project samples also helped control the variability brought about by merely averaging all condo projects within a specific submarket, which when comparing multiple years was less reflective of changing market conditions.

While this methodology only reflects a “sample” of the condo market, the number of projects and number of units in the sample are considered representative of the market. The sample pool of projects does not include pre-construction projects. Therefore, the averages and indicators reflect contemporary existing peers and are not meant to reflect pricing of the newest projects coming to market.This methodology will also allow us future analytical capability to project floor premiums, view premiums and penthouse premiums since the data will be isolated for direct and discrete comparison on these function points. We hope this will clarify directionality of the market and allow for deeper analysis in future reports.

This Trends report is not meant to replace property analysis by a qualified broker and should not be applied to specific properties without consultation with a professional. The Trends Real Estate Market Report in 2015 is meant to inform on broader trends and to facilitate comparison and forecasting at the macro market level.

To Read the full Report please CLICK HERE

Trends 2014 Market Report

Trends 2014 Market Report

This comprehensive report will become your definitive guide to understanding over 40 communities in South Florida. The data-rich tool will offer a more visual experience, taking you on a journey through 4 years of data with complementing graphs at every turn. We’ve added local and international statistics which break down the ways in which Miami and Broward are top-class metropolitan areas by global standards.

Click on the Trends 2014 Market Report Image and view the Trends Magazine in South Florida.