Mortgage bankers and lenders will be sad to hear that 53% of all transactions now are RENTALS. With interest rates at an all time low, homebuyers can lock in interest rates (to the tune of 4.25%) but many are opting to LEASE.
And that is great news for investors who are scooping up property on Miami Beach and in the Downtown/Brickell area! Condo prices in many areas of South Florida have dropped to 1/3 of their prior value. Miami is considered to be one of the top cities to live in, anywhere in the world. It’s a good time to buy expecially if you’re looking at investment property, what with the number of tenants out there looking to lease!
The whole world is focusing on Miami right now! If you’re looking to buy, lease or sell, please don’t hesitate to contact us. The Restivo Team 305 793-1365 or 305 632-0164