Every year, market analysts and real estate experts release their predictions regarding where they believe the market is headed.  Now that we will be bidding 2015 a fond farewell, 2016 will surely be another exciting year for South Florida real estate.  Instead of looking forward, let’s take a look back and see how things progressed this year.

It was anticipated that there would be over 6,000 new condominium units built to the east of Interstate 95 by the time 2015 came to a close, with 5,400 of those units set to emerge within the city of Miami.  From that lofty projection, about eight percent of these units are now complete, but the numbers could change as some projects fail to get off the ground and end up being canceled.

Miami Beach penthouses continued to soar, commanding handsome asking prices.  At the Continuum II condo in South Beach, its penthouse had a price of $50 million, representing the continued value of Miami Beach real estate.  A Star Island estate is another example of high priced Miami Beach property; it was selling for $75 million before it was taken off the market.

Now that we’ve explored 2015 a little bit, where do you believe the market will go in 2016?

This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach.  If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

Is there a bubble when it comes to the Miami housing market?  Most experts who follow the real estate market suggest that is not the case, at least not yet anyway.  Of the 70 experts polled by online real estate database company, just four of them suggest that Miami is in a bubble though a few did suggest that a bubble may start to form next year.

Once the housing market started to rebound in 2011, prices for homes throughout South Florida have skyrocketed, spurring a tremendous amount of attention from foreign buyers from Latin America, China, and beyond.  Although there has been a major upswing, the region is still far away from its heyday when prices were at a record high in 2006.  Currently, the values of homes are about 70 percent of the all-time high achieved that year, per the S&P Case-Shiller Home Price Indices.

Price gains have slowed down somewhat, and despite the attention from foreign buyers, the fewer cash home sales suggest there are perhaps less of them.  The slowed pace of price gains could signal a positive sign for local buyers looking to perhaps become first-time homebuyers.  Due to wages, Miami is considered one of the least affordable housing markets in the country.

This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach.  If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.

Will you be attending any of the Art Basel events this weekend?  This fourteenth incarnation of the event is better and bigger than ever, spilling over from Miami Beach to a multitude of art-related events in Miami’s Wynwood and Midtown neighborhoods.  With so much art to see and enjoy, you’re going to need to make some time to check it all out, but there are a couple of artists you may want to keep an eye out for.

Guadalajara-based artist Jose Dávila’s popularity is so strong, his pieces can sell in just a few minutes.  One of his intriguing pieces titled “Untitled (M-maybe)” depicts American pop artist Roy Lichtenstein’s painting of a woman with her face removed.  This piece was sold for more than $30,000 and his sculptures have commanded over $40,000.

A great feature of Art Basel is its ability to showcase global up and coming artists to new audiences.  Artist Yto Barrada of Morocco is currently exhibiting her photography and “Faux Guide” installation at the Carré d’Art in France and you’ll be able to admire some of her artwork right here in Miami Beach during Art Basel.

Belgian artist Harold Ancart made the news when he drove to and from New York and Los Angeles in his car, using his trunk as a makeshift studio and drawing some of the sights he came upon along the way.  His work has been featured in the Museum of Modern Art and will also be on display at Art Basel.

Art Basel and its many unique artists are all just moments from the Continuum South Beach.  If you’re an art aficionado, you’ll definitely want to learn more about the Continuum condos for sale.  Call Continuum expert Tim Allen at 305-588-2451 for information on sales and rentals.

Among the numerous events held in South Florida, the one that tends to draw a considerable amount of people from virtually all walks of life is Art Basel.  Considered one of the most important cultural events, every year Art Basel attracts a host of artists and galleries from around the world and the audiences only seem to grow as the years go by.  Parties, pop-ups, various galleries and plenty of creative individuals looking to display their original artwork has made Art Basel among the most significant events in Miami Beach.

Plenty of events are happening in and around Miami Beach.  Louis Vuitton’s Objets Nomades features some of the most innovative work in furniture design and this year, the event features an assortment of foldable furniture and original travel accessories.  The event starts on December 3rd and continues until February 10th at the Louis Vuitton located at 140 NE 39th St, Miami, FL.

Brooklyn-based artist Martha Friedman will be making her Miami debut with “Pore”.  Using over 900 pounds of rubber for her vividly colored rubber sheets, guests will also find a series of metal sculptures to admire.  The show takes place at Locust Projects, 3852 North Miami Avenue and is held at various times.

All of these events, as well as the many Art Basel related events near Ocean Drive and the Miami Beach Convention Center, are all just moments from the Continuum South Beach.  If you’re an art aficionado, you’ll want to learn more about the Continuum condos for sale.  Call Continuum expert Tim Allen at 305-588-2451 for information on sales and rentals.

The upcoming Art Basel takes place primarily in Miami Beach, featuring numerous art installations and a host of artists from around the world showcasing their incredible work of art.  The events may be largely based in the barrier island, but there are also events going on in Miami and beyond.  Let’s take a look at some of the Magic City events.

On Wednesday, December 2nd, there are two events going on, one in Miami Beach and the other in Miami.  In the case of the latter, it’s the “Very Superfine! Kickoff Party” with Baio of the band Vampire Weekend and Lauv.  Entry costs $25 and the party is being held at The Citadel located at 8300 Northeast Second Avenue.

On Thursday, December 3rd, the Perez Art Museum is hosting “Dimensions” by Devonte Hynes.  Entry is limited to members of the museum or various VIP cardholders, but it’s definitely worth the experience.  The Perez Art Museum is located at 1103 Biscayne Boulevard in Miami.

Over in Mana in the Wynwood area, you can check out Life and Death Art Basel.  Tickets cost $15 to $66 for that event.  Jamie xx and Four Tet will also be at Mana Wynwood the following day.  Tickets for that show cost $25 to $400.  Mana Wynwood is located at 318 NW 23rd Street in Miami.

All of these events as well as the many Art Basel related events near Ocean Drive and the Miami Beach Convention Center are all just moments from the Continuum South Beach.  If you’re an art aficionado, you’ll definitely want to learn more about the Continuum condos for sale.  Call Continuum expert Tim Allen at 305-588-2451 for information on sales and rentals.

Among the many Miami Beach condos that are in development or have made headlines, Marea South Beach by the Related Group is certainly one of them. Featuring a mix of condominium units, two townhouses, and four penthouses among three buildings, the project recently made news for being the third project within the posh South of Fifth project to be completed during the South Florida real estate cycle that kicked off back in 2011.

Nine residences have been sold at the Marea condo located on South Pointe Drive, with $1,500 being the average price paid per square foot. As for the prices for which some of the units have sold, they range from $1.5 million to $7.9 million. There are currently three units for sale within Marea, each with an asking price of over $2,200 per square foot.

The completion of Marea comes on the heels of other recently completed projects like 321 Ocean and 350 Meridian. It is also the first of two Related Group projects set to emerge in the South Fifth area, the other one being the highly anticipated One Ocean condo. Overall, Related has more than thirty projects in the works throughout Miami-Dade, Broward, and Palm Beach.

If you’re seeking lucrative Miami Beach condos to buy, Continuum South Beach is full of fantastic buying opportunities, and each of the Continuum condos for sale are located in an equally excellent location. Call Continuum expert Tim Allen at 305-588-2451 for information on sales and rentals on Continuum or other buying opportunities throughout Miami Beach.

A long time debate when it comes to housing is whether it’s better to buy to rent.  Most people will tell you that buying is a much wiser investment than renting, as the money you spend each month on a mortgage is working for you in the long term.  In case you needed even more reassurance on why it’s better to buy than to rent, some recent news might convince South Florida millennials to start looking at listings for sale.

Per a study released today, buying is over 40 percent cheaper than it is to rent a home in Miami-Dade County, 43 percent to be exact.  These numbers assume that buyers can make a down payment of at least 10 percent, which represents a figure closer to what the average millennial or first time home buyer can afford than the typical 20 percent.

The tricky part in all of this comes in obtaining the money to make a down payment as high rent makes it much harder to put aside funds for a home, on top of whatever other bills a buyer might have.  Buyers who do find worthwhile opportunities also have to contend with those who can make cash offers, as these people often beat out buyers who need a mortgage.

The Continuum South Beach is full of fantastic buying opportunities, and each of the Continuum condos for sale are located in an equally fantastic location.  Call Continuum expert Tim Allen at 305-588-2451 for information on sales and rentals on Continuum or other buying opportunities throughout Miami Beach.

New condo construction projects are announced in South Florida on a seemingly daily basis, especially in the cities of Miami and Miami Beach. Each of these projects presents a stunning design, innovative features and promise to be the next big thing in real estate.  The Porsche Design Tower in Sunny Isles Beach for example has an elevator that will literally bring your vehicle right to your doorstep while the Paramount Miami Worldcenter is an ambitiously sprawling complex full of entertainment, dining, shopping, condos, and more.

One of the best ways to get familiar with all of these new developments is by attending the Miami New Construction Show taking place between October 22nd through the 25th at the Miami Beach Convention Center.  The event will showcase over ninety different luxury real estate projects, with more than 20,000 people expected to attend the four day event.  Other projects that will be showcased include the The Estates at Acqualina and the Turnberry Ocean Club, both of them also set to emerge in Sunny Isles Beach.

The Miami Beach Convention Center is just moments from the Continuum South Beach and if you’re looking for some of the best Miami Beach condos for sale, you’ll definitely want to learn more about the Continuum condos for sale.  Call Continuum expert Tim Allen at 305-588-2451 for information on sales and rentals and be sure to attend the Miami New Construction Show if you’re a fan of architecture or want to stay on top of the latest developments throughout the barrier island or th Magic City.