Due nuovi murales di Nello Petrucci a Miami

Miami Mentre era in corso Miami Art Basel, la più importante fiere di arte contemporanea americana, nel quartiere di Wynwood si riuniva il mondo della street art – Shepard Fairey, Millo, SHOK-con per realizzare numerosi nuovi murales. Il poliedrico artista Nello Petrucci, faceva sentire la sua voce fuori dal coro, con due interventi urbani di denuncia. Nello Petrucci, da sempre impegnato a sostegno di cause umane, sociali ed etiche, già in passato aveva lanciato messaggi attraverso i suoi murales a Miami. Da ricordare l’anno scorso “Attesa” sulla complessa vicenda di Chico Forti. Quest’anno lascia un nuovo segno con “momsays” che richiama l’attenzione sulla delicata questione dell’uso facile delle armi negli Stati Uniti e “guess” che riprende la tematica affrontata da Bansky contro i brand del lusso che si appropriano indebitamente dell’arte urbana per cavalcare l’onda di popolarità.Petrucci per i suoi interventi di Street Art utilizza invece delle bombolette la tecnica dell’halftone. Nello Petrucci (1981-) è un artista e film-maker italiano, vive e lavora tra Pompei e New York.

Baglietto inaugura il Miami Boat Show

La Spezia. Si apre con un successo il nuovo anno nautico di Baglietto che annuncia la vendita di una nuova costruzione di 38m V-Line Prua dritta, scafo e sovrastruttura in alluminio, il progetto no. 10235 porta la firma di Francesco Paszkowski Design su una nuovissima piattaforma navale fast – displacement progettata dal cantiere. L’imbarcazione riesce a raggiungere una velocità massima di 18 nodi con un baglio generoso e configurazione tri-deck, grazie alla nuova versione potenziata dei motori Caterpillar ACERT C32B E Rating. Il modello di superyacht, completamente nuovo, richiama le linee esterne della nuova V-Line presentata dal cantiere nel corso dell’ultimo MYS, nuova V-Line inaugurata con il concept di un 65m ora affiancato anche da un 38m.

Aircraft Corporation as Keynote Speaker for 2020 Miami Beach Exhibition

PartsBase & PBExpo announced that Mitsubishi Aircraft Corporation Global Vice President of Marketing & Strategy, Steve Haro, will present as a keynote speaker for PBExpo 2020 in Miami Beach, Florida. Haro is responsible for developing strategies to maintain long-term competitiveness, positioning Mitsubishi Aircraft in the global market, and supporting airline customers with network and fleet scenario planning through analysis from regionally deployed marketing teams. He is also a member of the executive strategy team that is tasked with ensuring the company transforms into a global, world-class producer of commercial aircraft. Prior to joining Mitsubishi, he spent a successful 33-years at the Boeing Company where he held various leadership positions in Manufacturing, Engineering, Business Development, and Marketing. He successfully led the marketing efforts for three of Boeing’s Wide-body airplane programs and spent more than five years in Airplane Development as the Marketing leader for the 777X which culminated in the largest product launch in commercial aviation history (Dubai, 2013, $95B in orders). The 3rd annual PBExpo, presented by PartsBase, is a revolutionary aviation, aerospace, and defense tradeshow & conference focused on showcasing emerging e-commerce technologies, digital transformation, digital marketing and critical B2B tools for success. PBExpo 2020 will take place March 18-19, 2020 in Miami Beach, FL, at the Miami Beach Convention Center.

Helbiz approda a Miami

New York, Helbiz porta i suoi monopattini a Miami. Per la società americana fondata dall’italiano Salvatore Palella, si tratta di un altro importante traguardo nell’ottica di un’espansione globale della sua ormai nota piattaforma per la smart mobility in formato sharing. L’ingresso delle due ruote elettriche nel cuore della Florida – frutto di una licenza rilasciata dall’amministrazione cittadina – rappresenta infatti il primo passo di un percorso di sviluppo su tutta la East Coast americana.Si comincerà con 200 unità, distribuite lungo le aree nevralgiche del centro, compresa Downtown, Morningside, Edgewate, Brickell e Coconut Grove, con la previsione di un successivo piano di ampliamento della flotta e dell’area di copertura (gefencing) dopo i primi 60 giorni di operatività. A medio e lungo termine, Helbiz lavorerà per servire tutti i punti chiave della città, con particolare attenzione alle tratte da e verso hotel, centri commerciali e campus universitari.Grazie ai monopattini di Helbiz, Miami punta a risolvere una delle lacune storiche della sua viabilità: la mancanza di soluzioni efficienti per gli spostamenti nel cosiddetto ultimo miglio. Con una popolazione di 470mila abitanti su una superficie di 91 km2, Miami è infatti una delle città più densamente popolate degli Stati Uniti, insieme a New York, San Francisco e Chicago. Ciononostante la predisposizione all’utilizzo dei mezzi pubblici resta decisamente bassa. Lo dimostrano le statistiche che vedono il trasporto in auto predominante con il 72,3% delle preferenze individuali negli spostamenti casa-lavoro.
“La conformazione della città, il grande afflusso di visitatori durante l’anno e il clima favorevole, con quasi 250 giorni di sole all’anno, fanno di Miami una città ideale per lo sviluppo di un sistema virtuoso di sharing mobility”, commenta Salvatore Palella, fondatore e CEO di Helbiz. “Il conseguimento della licenza arriva peraltro nel momento migliore dell’anno, in Florida la fine dell’anno è momento di alta stagione con un grande afflusso turistico legato agli eventi in città, a cominciare dall’Art Basel in programma per i primi di dicembre”. L’assegnazione della licenza permetterà a Helbiz di lavorare anche su una serie di dati sensibili per la viabilità in tempo reale nelle aree a maggior afflusso veicolare. Obiettivo della società è in particolare quello di decongestionare il traffico sfruttando tutti i corridoi eco-friendly della città. Sotto questo profilo, Miami vanta l’ottavo posto nella classifica della pedonabilità delle strade nei grandi centri americani e il 44esimo per infrastrutture ciclabili.

Miami Valley Seniors Receive Energy Leadership Scholarships at the Ohio Youth Energy Celebration

As part of the Youth Energy Celebration, hosted by Ohio Energy Project (OEP), Dayton Power and Light (DP&L) and Vectren Energy Delivery of Ohio (Vectren), a CenterPoint Energy Company, awarded Energy Leadership Scholarships to three high school seniors planning for careers in energy.The recognition event was held at The Columbus Zoo and Aquarium, where three local area students were presented the 2019 DP&L and Vectren Leadership Scholarship. Chloe Spencer of West Liberty-Salem High School, Erin Tebbe of Twin Valley High School and Alexander House of Oakwood High School will each receive $1,000 towards their college expenses.
Chloe Spencer plans to attend the University of Toledo majoring in chemical engineering. Erin Tebbe is heading to Purdue University to study engineering. Alexander House will major in aerospace engineering at the University of Cincinnati.Each year, DP&L teams up with Vectren to host the OEP Energy Fair teaching young people about energy efficiency through hands-on sessions that allow high school students to mentor their younger counterparts. These companies generously provide funding for the curriculum, training and materials that promote energy literacy and leadership for students and their families each year.DP&L was also recognized by OEP for its long-standing partnership and contributions to the program. The award celebrates a 30-year milestone of continued support and participation in the program.In addition, DP&L has sponsored the Be E3 Smart energy efficiency program since 2009. As a result, more than 50,000 energy efficiency kits have been sent home through the classroom. DP&L is supporting the AEGIS Energy Bike building program for the fifth year.
Two area teachers were honored with the Excellence in Energy Efficiency award. Jovita Wade, an intervention specialist at Fairborn High School, received the DP&L Teacher Award and Heidi Edwards, a science educator from Oakwood High School in Dayton, received the Vectren Teacher Award. Both award recipients have participated in OEP programs for several years, tailoring their curriculums to foster the next generation of energy leaders and conservation thinkers.

Credit Suisse Financial Services Forum in Miami

Miami Northern Trust Corporation announced today that Chief Financial Officer, S. Biff Bowman, and President of Northern Trust Asset Management, Shundrawn A. Thomas, will speak at the Credit Suisse Financial Services Forum in Miami on Tuesday, February 12, 2019 at 1:00 p.m. (ET).The live audio webcast of the presentation can be accessed via Northern Trust’s website at http://www.northerntrust.com/presentations. A replay of the webcast will be accessible for approximately four weeks after the presentation date.
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 20 states and Washington, D.C., and 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2018, Northern Trust had assets under custody/administration of US$10.1 trillion, and assets under management of US$1.1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust. Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at http://www.northerntrust.com/disclosures.

36th annual Miami Breast Cancer Conference

Physicians’ Education Resource® (PER®), a leading resource for continuing medical education (CME), announces Dr. Gregory Stock and Stephanie Seban as the keynote speakers for the 36th annual Miami Breast Cancer Conference®. This year’s keynote presentations will take place at the Fontainebleau in Miami Beach, Florida.
For 36 years, the Miami Breast Cancer Conference® has brought together surgical, medical and radiation oncologists, as well as geneticists, pathologists, radiologists and supportive-care specialists, to foster awareness of state-of-the-art treatments for all stages and subtypes of breast cancer, provide expert perspectives on areas of clinical uncertainty or controversy, and encourage attendees to engage in cross-team cooperation in their clinics. The four-day interactive conference will explore all aspects of treatment and management of breast cancer, including screening, molecular and genetic testing, detection, primary treatments and patient-support strategies. The conference will also feature a special patient communication workshop, specialized programming on issues related to young women with breast cancer and a discussion about physician burnout.

ISDA’s 33rd Annual General Meeting: Miami

Miami The pre-conference members’ welcome reception is on Tuesday, April 24 at 7:30PM JW Marriott Marquis Miami 255 Biscayne Boulevard WayThe International Swaps and Derivatives Association, Inc. (ISDA) is holding its 33rd Annual General Meeting (AGM) in Miami from Tuesday April 24 until Thursday April 26.
WHO: This year’s event will feature ISDA Board members, leading industry executives and public policy-makers, including:
Keynote Address: Bill Coen, Secretary General, Basel Committee on Banking Supervision
Fireside Chat: J. Christopher Giancarlo, Chairman, US Commodity Futures Trading Commission (CFTC)
Keynote Address: Craig S. Phillips, Counselor to the Secretary, US Department of the Treasury
Dr. Kay Swinburne MEP, Vice Chair of the Economics and Monetary Affairs Committee, European Parliament
Michael Gill, Chief of Staff, Commissioner Giancarlo at US CFTC
David Bowman, Advisor, Federal Reserve Board of Governors
Amir Zaidi, Director, Division of Market Oversight, US CFTC
Kazunari Mochizuki, Director for International Financial Markets (Settlements), Japan Financial Services Agency
Edward Ocampo, Senior Advisor – Markets, Bank of England
Bruce Tuckman, Chief Economist, US CFTC
David Lynch, Deputy Associate Director, Federal Reserve Board
Dan Bucsa, Deputy Director – Data & Reporting, Division of Market Oversight, CFTC
Since 1985, ISDA has worked to make the global derivatives markets safer and more efficient. Today, ISDA has over 875 member institutions from 68 countries. These members comprise a broad range of derivatives market participants, including corporations, investment managers, government and supranational entities, insurance companies, energy and commodities firms, and international and regional banks. In addition to market participants, members also include key components of the derivatives market infrastructure, such as exchanges, intermediaries, clearing houses and repositories, as well as law firms, accounting firms and other service providers. Information about ISDA and its activities is available on the Association’s website: http://www.isda.org

The free concert World AIDS Day concert

Hosted by comedian Aida Rodriguez and featuring Grammy-nominated artist and actress Sheila E., Latin Grammy Award-winning reggae artist Yandel and hot, new singer-songwriter Becky G., the event featured a special presentation by the Honorable Carmen Yulin Cruz, Mayor of San Juan, Puerto Rico. Mayor Cruz gave a moving update on post-hurricane Puerto Rico, sharing the current needs for recovery on the island and issued a ‘call to action’ for further community support. In addition, Miami’s newly-elected homegrown Mayor Francis Suarez also came out to support the event.AHF Southern Bureau Chief Michael Kahane and members of the AHF Board of Directors also presented Mayor Cruz with AHF’s 2017 Humanitarian Award for her ongoing courageous and heroic leadership following the recent tragedies that devastated the island as a result of Hurricane Maria.“This was a terrific night and just a wonderful concert with amazing artists joining us to celebrate AHF’s thirty years of service to the community to address the growing HIV/AIDS epidemic, especially here in Miami-Dade and Broward counties,” said AHF Southern Bureau Chief Michael Kahane. “We are humbled that San Juan Mayor, Carmen Yulin Cruz also joined us, as we both honored her for her courageous leadership and allowed her a platform to put the critical needs of the people of Puerto Rico back front and center before the media. The cameras may have all gone away in Puerto Rico, but the needs of the island continue to grow. AHF is committed to continue to lead the charge in keeping the community engaged in supporting our fellow America citizens by raising awareness & funds for our Power2PR relief campaign.”
The free concert World AIDS Day concert (observed December 1st) and AHF 30th Anniversary Celebration in Miami was part of a series of events and concerts across the world to continue to spread awareness about HIV and AIDS. The activities include free concerts in Haiti, Mexico City, Russia and the United States as well as free awareness and testing events throughout the U.S., Africa, Latin America, the Caribbean, Eastern Europe and Asia. (photo: World AIDS Day)

NEORIS Drives Innovation and Gains Momentum in the Digital Transformation Space

Miami. NEORIS, a global Digital Consulting Services company, announced the launch of CEMEX Go, one of its most important client projects in its history. CEMEX Go, an initiative of CEMEX, is the first-of-its-kind, fully digital customer integration platform. With a strong customer-centric approach, it allows customers to increase their productivity, make better business decisions, and have more control over their businesses.NEORIS played a critical role in the initiative by designing and developing the customer-centric strategy, as well as implementing the system. The joint effort between CEMEX and NEORIS is a step to advance the building materials industry to the interconnected business age.”NEORIS has been a strategic ally for CEMEX, helping us to stay competitive in a rapidly shifting global marketplace,” said Fernando A. Gonzalez, CEMEX CEO. “From the beginning, NEORIS has played a key role in the development of CEMEX Go. With multidisciplinary teams across the globe and an acute business consulting perspective, NEORIS has become one of the most successful providers in the digital transformation space.” Martín Mendez, NEORIS CEO, said: “The CEMEX Go project adds momentum to our transformation as a digital consulting company. During this specific project, our objective was to help CEMEX create the best customer experience in its industry by revamping its commercial model and enabling it with the latest digital technologies.” NEORIS is a leading global consultancy that unlocks business potential and drives digital innovation. NEORIS cultivates the knowledge of technology, people and design to enable the critical bridge connecting legacy technology to new digital solutions, through a holistic, scalable and sustainable customer-centric transformation. Headquartered in Miami, FL., NEORIS has a network of global delivery centers, design studios and operations in the U.S., Europe, Latin America, Africa, the Middle East and Asia.

Tommaso Cardana, nuovo Presidente della Camera di Commercio Italiana a Miami

Miami. “Esprimo le mie vive congratulazioni all’imprenditore italiano Tommaso Cardana per la sua elezione a Presidente dell’America Chamber of Commerce Southeast (IACC), situata a Miami ed aderente ad Assocamere estero, un ruolo importante a servizio degli imprenditori italiani nel sud est degli Stati Uniti. Dunque, Auguri di buon lavoro al nuovo Presidente che, sono sicura, darà un contributo importante a rendere il Sistema Italia negli Usa ancora più rispondente alle esigenze che le sfide della contemporaneità ci pongono “. Lo ha detto l’on. Fucsia Nissoli FitzGerald apprendendo la notizia della nuova presidenza a guida Cardana della Camera di Commercio Italo Americana a Miami.

Miami meets Milano

Christian Flammia intervista Salvo Mugnes organizzatore della prestigiosa mostra su una iniziativa che sta riscuotendo enorme successo di pubblico e di critica negli Stati Uniti.
1) Come nasce l’idea di organizzare questa mostra nel cuore di Miami Beach?
Lo scorso anno, l’iniziativa ha ottenuto forte risonanza e ci ha dato grande soddisfazione. Quest’anno abbiamo pensato di ripartire con la stimolante “sfida organizzativa” che vuole congiungere simbolicamente, con un ponte virtuale di connessione, Miami e Milano, al motto trainante di rendere l’arte e la cultura accessibili a tutti e di tutelarne al meglio il loro prezioso valore. A livello mondiale, Miami e Milano, sono dei pilastri cardine nel sostegno del comparto artistico-culturale e sono dei modelli di riferimento, per l’opinione pubblica internazionale.
2) Quali opere vengono esposte e in quale sede?
La formula espositiva è concepita con un’impronta eterogenea e cosmopolita, all’insegna della libera e spontanea espressione creativa. Abbiamo selezionato e riunito insieme artisti contemporanei di talento, italiani e stranieri, più o meno noti e conosciuti, tutti quanti meritevoli di attenzione e di considerazione. Inoltre ci sarà la grande arte italiana, infatti saranno presenti anche le opere di Renato Guttuso, Fausto Pirandello, Dario Fo, Afro, Gillo Dorfles, Mario Schifano e molti altri. Nella scelta della location ospitante, si riconferma il prestigioso Hotel Victor, che si trova in Ocean Drive, accanto alla villa di Versace, in posizione strategica, nel centro della metropoli. Una sede molto adatta, per valorizzare al massimo le opere presenti.
3) Perché è stato scelto questo particolare periodo di svolgimento?
Il periodo scelto è dal 30 novembre al 4 dicembre 2016. Abbiamo deciso, di fare coincidere la mostra, con lo svolgimento della storica manifestazione fieristica di Miami Art Basel, che rappresenta il principale evento di settore e vede Miami testimonial e portavoce nel mondo, a favore della diffusione dell’arte e della cultura in generale, che sono considerate come dei linguaggi universali di comunicazione sociale e di aggregazione collettiva. Questa concomitanza, garantisce un ulteriore lustro alla mostra e permette di avere la miglior visibilità alle opere allestite in esposizione.
4) Cosa rappresentano per lei Miami e Milano?
Sono da sempre affascinato e attratto dalla Florida e in particolare da Miami, che con la sua unicità costituisce una parte nevralgica fondamentale della vecchia America. In essa, si ritrovano insieme, in perfetta fusione, passato e presente, antico e moderno, tradizione e innovazione. Milano, invece, è un cuore e un fulcro importantissimo, nel quale ruota una parte consistente delle mie attività nel campo artistico-culturale, che considero un po’ come la mia seconda città natale d’adozione. Entrambe, sono delle roccaforti fondamentali, per la promozione a largo raggio dell’arte e della cultura. Collegate insieme questa pregevole valenza si rafforza ancora di più, agevolando delle interessanti e vantaggiose opportunità anche per il futuro.
5) Avete ricevuto il supporto e il consenso da parte delle autorità istituzionali delle due città?
Fin dallo scorso anno, abbiamo riscosso grande approvazione da parte delle rappresentanze cittadine. I due Sindaci ci hanno sostenuto in pieno. Inoltre, sono arrivati dei significativi commenti di elogio anche da parte del Console italiano a Miami, del Presidente della regione Lombardia, del Direttore generale del Ministero degli affari esteri, di Vittorio Sgarbi, di Josè Dalì e del trio canoro Il Volo, che riscuote trionfali successi in tournée negli States. Questi consensi, ci hanno gratificato e compiaciuto tanto. (by Christian Flammia)

“Miami meets Milano”, il commento del critico d’arte Vittorio Sgarbi

Si rinnova per l’edizione 2016, l’atteso appuntamento della mostra internazionale di “Miami meets Milano” organizzata da Salvo Nugnes, manager della cultura e agente di nomi di spicco del panorama attuale. L’evento si terrà dal 30 novembre al 4 dicembre, all’interno dell’esclusivo hotel Victor di Miami Beach, in Ocean Drive, nel cuore della grande metropoli. Verranno allestite opere di talentuosi artisti contemporanei, italiani e stranieri, dando un’impronta cosmopolita alla libera espressione creativa di ciascuno. La mostra ha il contributo di Vittorio Sgarbi, di Josè Dalì, del Console Generale d’Italia, del Sindaco di Milano, del Sindaco di Miami, di Renato Manera della Fondazione Canova, del Presidente dell’Accademia di Belle Arti e molti altri. La mostra si svolge nel contesto della storica manifestazione “Miami Art Basel”, considerata la più importante del settore a livello mondiale, proprio per dare ulteriore visibilità e risonanza alle creazioni presenti in loco. Gli artisti esporranno con i grandi nomi dell’arte: Renato Guttuso, Gino De Dominicis, Filippo De Pisis, Antonio Canova, Mario Schifano, Sandro Chia, Afro, Josè Dalì, Fausto Pirandello, Gillo Dorfles, Dario Fo e molti altri.
L’organizzatore, Salvo Nugnes, intervistato per parlare dell’interessante iniziativa, ha spiegato: “A fronte del successo e dei tanti apprezzamenti di consenso, ottenuti lo scorso anno, abbiamo deciso di riproporre questo evento, che congiunge simbolicamente Miami e Milano, al motto trainante di rendere l’arte e la cultura accessibili a tutti e di tutelarne al meglio il loro prezioso valore”. E aggiunge “La mostra offre un ponte di collegamento tra Miami e Milano, che permette poi di innescare una serie di vantaggiose occasioni anche per il futuro. Abbiamo coinvolto le principali rappresentanze istituzionali delle due città, che hanno prontamente fornito il loro contributo in supporto e hanno dato un forte sostegno elogiativo per il lavoro organizzativo, che stiamo portando avanti”. Tra gli autorevoli commenti, giunti a favore di “Miami meets Milano”, il critico d’arte VITTORIO SGARBI ha dichiarato “Seppur fisicamente lontane, Miami e Milano sono realtà accomunate dallo spirito cosmopolita e da una visione moderna e dinamica della dimensione aggregativa. L’occasione di pensarle e vederle unite in sodalizio, tramite questo evento, ha quindi una sua logica positività, per lanciare un forte messaggio, a sostegno e a dimostrazione dell’idea, che l’arte sia il linguaggio universale per eccellenza, in grado di essere comprensibile alla maggior parte delle persone. Apprezzo e appoggio l’iniziativa, nell’augurio che possa dare vita a situazioni stimolanti, favorendo una forma di confronto costante tra Miami e Milano, che si possa mantenere e incentivare nel tempo”. (Christian Flammia)(foto: sgarbi)

Non-Distressed Miami Single-Family Home Sales Rise in May

MIAMI — Non-distressed Miami single-family home sales increased for the fifth consecutive month and all existing residential properties posted price gains in May, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.The median sales price for existing single-family homes rose 4.6 percent year-over-year in May 2016, from $282,000 to $295,000. Single-family home prices have increased for 54 consecutive months. The median sales price for existing condominiums grew 2.5 percent to $214,250 from $209,000. Miami existing condo prices have risen in 58 of the last 60 months, a stretch encompassing five years.
“Miami real estate remains a bargain worldwide,” said Mark Sadek, a Coral Springs Realtor and the 2016 MIAMI chairman of the board. “Miami-Dade County residential properties are at 2004 price levels. Domestic and international home buyers are taking advantage of Miami’s prices compared to other world-class global cities.”A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average, according to the National Association of REALTORS® (NAR). Prices for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) are at least five times higher.Historic-low mortgage interest rates are attracting home buyers. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 3.60 percent in May, which is the lowest since May 2013 (3.54 percent).Total existing Miami-Dade County residential sales — which posted a record year in 2013 and near record years in 2014 and 2015 — decreased 10.4 percent year-over-year from 2,719 to 2,435.Miami-Dade County single-family home transactions decreased 7.2 percent in May, from 1,272 to 1,180. Existing condominium sales — which declined 13.3 percent, from 1,447 to 1,255 — are competing with a robust new construction market, which continues to add inventory.A 32.7 percent year-over-year drop in total distressed sales, from 683 transactions in May 2015 to 460 last month, contributed to the lower sales activity. Only 18.9 percent of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, compared to 25.1 percent in May 2015. In 2009, distressed sales comprised nearly 70 percent of Miami sales.Short sales and REOs accounted for 3.2 and 15.7 percent, respectively, of total Miami sales in May 2016. Short sale transactions dropped 54.5 percent year-over-year while REOs fell 25.4 percent.Sales and prices for traditional or non-distressed single-family homes are on the rise. Non-distressed Miami single-family homes registered a sales growth of 1.5 percent, increasing from 928 to 942. It’s the fifth consecutive month traditional single-family homes sales have grown. Traditional Miami single-family homes gained 0.2 percent of price growth in May, growing from $320,000 to $320,750.
Nationally, distressed sales comprised 6 percent of all sales in May, down from 10 percent a year ago, according to the National Association of REALTORS® (NAR).Total Miami residential properties combined for $979.7 million in total sales volume in May 2016, about 10.2 percent lower than the $1.08 billion sold during the same month last year. The aforementioned sales volume does not include the strong new construction condo sales figures.
Mid-priced Miami homes are seeing increased sales. Single-family homes priced between $200,000 and $600,000 saw a 5.9 percent year-over-year increase in May, growing from 716 to 756. The sector represented 64.1 percent of total Miami single-family home sales in May 2016.Existing condos priced between $150,000 and $300,000 saw a 12.0 percent-rise in sales in May, increasing from 482 transactions to 540. This sector represented 43.0 percent of total existing Miami condo home sales in May 2016.The median number of days between listing and contract dates for Miami single-family home sales fell 16.9 percent year-over-year to 49 days. The median number of days between the listing date and closing date for single-family properties dropped 13.3 percent to 98 days.For condos, the median time to contract decreased 13.5 percent year-over-year to 64 days. The median number of days between the listing date and closing date decreased 9.3 percent to 107 days. The median percent of original list price received for existing condominiums was 94.2 percent, an increase of 0.1 percent.
In addition to competing sales from new construction units, the lack of access to mortgage loans is also impacting existing condominiums. Of the 9,307 condominium buildings in Miami-Dade and Broward Counties, only 13 are approved for Federal Housing Administration loans, down from 29 last year, according to statistics from the Florida Department of Business and Professional Regulation and FHA.
Nationally, existing-home sales sprang to their highest pace in almost a decade. Total existing-home sales grew to a seasonally adjusted annual rate of 5.53 million in May 2016, which is 4.5 percent higher than May 2015 (5.29 million). It’s the highest annual pace since February 2007 (5.79 million).Statewide, closed sales of existing single-family homes totaled 25,518 last month, up 4.5 percent over the May 2015 figure, according to Florida Realtors. Florida’s condominium sales totaled 10,455 last month, up slightly (0.1 percent) compared to May 2015.The national median existing-home price for all housing types in May was $239,700, up 4.7 percent from May 2015 ($228,900). May’s price increase marks the 51st consecutive month of year-over-year gains.The statewide median sales price for single-family existing homes last month was $221,050, up 10.5 percent from the previous year, according to Florida Realtors. The statewide median price for townhouse-condo properties in May was $165,000, up 4.4 percent over the year-ago figure. In May, statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year for the 54th month in a row.Miami cash transactions comprised 47.1 percent of May total closed sales, compared to 49.5 percent last year. Miami cash transactions are more than double the national average of 22 percent. Miami’s high percentage of cash sales reflects South Florida’s ability to attract a diverse number of international home buyers, who tend to purchase properties in all cash.Condominiums comprise a large portion of Miami’s cash purchases as 62 percent of condo closings were made in cash in May compared to 31.3 percent of single-family home sales.
Inventory of single-family homes increased 8.1 percent in May from 5,827 active listings last year to 6,298 last month. Condominium inventory increased 16.8 percent to 14,107 from 12,081 listings during the same period in 2015.There is a 5.6-month supply of Miami single-family homes, an increase of 12 percent from May 2015, which indicates a sellers’ market. There is an 11.2-month supply of condominium inventory, a year-over-year increase of 24.4 percent, which indicates a buyers’ market. A balanced market between buyers and sellers offers between six and nine months supply of inventory.Total active listings at the end of May increased 13.9 percent year-over-year, from 17,908 to 20,405. Active listings remain about 60 percent below 2008 levels when sales bottomed.New listings of Miami single-family homes increased 7.6 percent from 1,730 in May of last year to 1,861 last month. New listings of condominiums increased 9.3 percent, growing from 2,173 to 2,376.Nationally, total housing inventory at the end of May rose 1.4 percent to 2.15 million existing homes available for sale, but is still 5.7 percent lower than a year ago (2.28 million). Unsold inventory is at a 4.7-month supply at the current sales pace, which is unchanged from April.
Most Miami preconstruction condo developers require a 50-percent cash deposit on new units. The deposit is not only one of the highest in the United States but is significantly higher than the 20 percent required during the last real estate cycle. The large all-cash deposits are a sign home buyers are committed to the Miami market.
Developers are also being cautious not to overbuild. About 85 percent of condos under construction in downtown Miami are sold, according to Integra Realty Resources and the Miami Downtown Development Authority. Downtown Miami has about 7,200 units under construction, a considerably smaller number than the 18,500 the area had under construction in 2006.Strong sales in the Miami preconstruction condominium market east of Interstate 95 continue to reflect significant demand for new properties, according to a June 20 report from preconstruction condo projects website Cranespotters.com and MIAMI.
Forty-seven condo towers with 4,358 units have been completed in Miami-Dade County east of I-95 since the start of 2011. There are 80 towers with 12,731 units under construction in Miami-Dade County east of I-95. About 58 towers with 8,334 units are planned, but have not begun development. About 79 towers with 11,373 units are proposed in Miami-Dade County east of I-95.To access May 2016 Miami-Dade Statistical Reports, visit http://www.SFMarketIntel.com

Miami Realtors to Promote Miami at China North America Global Summit

The MIAMI Association of REALTORS® (MIAMI), the nation’s largest local Realtor group, will be promoting South Florida on a trade mission to China. MIAMI CEO Teresa King Kinney will be participating and presenting at the 2016 Asian Real Estate Association of America’s China North America Global Summit on June 15-25, 2016 at Chengdu, Xi’an, Changzhou and Shanghai. Ninoska “Nina” Fabbri of ISG International will also be attending. Fabbri is a member of the Greater Miami AREAA Board and the AREAA International Committee. AREAA is partnering with China Real Estate Association (CREA) to highlight the cities that are reshaping the Chinese economy and creating significant new wealth and business opportunities for real estate professionals.
China, the world’s most populous country, is one of the fastest growing segments of South Florida foreign buyers. The Asian country’s interest should only increase due to Miami’s world-famous lifestyle, top-tier colleges and universities, expansive designer-brand shopping, diversified economy, sunny weather, clean air, walkable districts, and secure investments.“Miami’s clean air, excellent schools and universities, development and world-class healthcare are attracting more Chinese residents and investment,” Kinney said. “South Florida has long been the top destination in the U.S. for international home buyers, and we believe China will definitely increase Miami real estate sales to foreign buyers.” China is one of the fastest growing segments of South Florida international buyers, according to a 2014 survey conducted by the National Association of Realtors (NAR) for MIAMI. Chinese buyers represented 2 percent of all international closed sales in Miami-Dade and Broward Counties in 2014. That’s a 50 percent increase from 2012 and 2011 when China comprised 1 percent of transactions.According to the 2015 Profile of International Home Buyers in Florida conducted by NAR, Miami-Miami Beach was the top Florida destination for Chinese buyers. About 42 percent of Chinese consumers purchasing property in Florida bought in Miami-Miami Beach. Bradenton-Sarasota-Venice was the second-most popular Sunshine State destination at 27 percent.In 2015, Chinese consumers had an average Florida purchase price of $1.065 million, the highest among all international home buyers, according to the 2015 Profile of International Home Buyers in Florida. All foreign buyers had an average purchase price of $538,600 in Florida, higher than the $258,200 mean home price for domestic clients.Nationally, Chinese buyers have surpassed Canadians as the most dominant foreign home purchasers, according to the National Association of REALTORS® 2015 Profile of Home Buying Activity of International Clients. Chinese buyers comprised 16 percent of international buyers who purchased single-family homes and condos in the 12-month period ending in March, up from 12 percent in 2013.

Presentazione in Italia del Brickell Flatiron Miami di Ugo Colombo

Milano Martedì 7 Giugno 2016 alle ore 18.00, presso l’hotel Bulgari di Milano – Via Privata Fratelli Gabba 7b presentazione in Italia del Brickell Flatiron Miami, il nuovo progetto di Ugo Colombo, founder CMC Group.
Ugo Colombo has played a pioneering role in the development of Miami’s downtown skyline. He is widely regarded as one of South Florida’s most respected and successful residential and commercial developers. Born in 1961 in Milan, Italy, Mr. Colombo came to the United States in 1983. His real estate career began while he was studying at the University of Miami. After acquiring and selling the inventory in two Brickell Avenue buildings – the Imperial Villa Regina Condominium, Mr. Colombo and his company, CMC Group, focused on the design and construction of high-rise luxury condominium buildings on Brickell Avenue, Miami Beach and Aventura.
Ugo Colombo has developed many landmarks on the Miami skyline –Bristol Tower and Santa Maria on Brickell Avenue – both of which helped redefine the condominium market in South Florida. He also played a significant role in the rejuvenation of Miami Beach’s South Beach community by redeveloping two of Ocean Drive’s most important Art Deco hotels: the Waldorf and Casa Grande. In Aventura in North Miami-Dade County, Ugo Colombo participated in a joint venture to create the ultimate in country club living, Porto Vita, a Mediterranean-style village located along the Intracoastal Waterway. Ugo Colombo’s most recent development successes include Epic Residences and Hotel, a 55-story luxury condominium and hotel at the mouth of the Miami River in downtown Miami, Grovenor House, a 166-unit luxury condominium project completed in 2006 in the heart of Miami’s Coconut Grove community, and Beach House 8, a luxury boutique condominium on Miami Beach.In 1994, Ugo Colombo acquired The Collection, a seven-franchise luxury automotive dealership (Jaguar, Porsche, Ferrari, Maserati, Aston Martin, Audi and McLaren). The Collection is ranked as one of the top performing luxury car dealerships in the United States.In 2002, CMC Group completed a 750,000-square-foot mixed-use office/retail development in Coral Gables to house The Collection and third-party office and retail tenants. In addition to The Collection, 4000 Ponce offers 150,000 square feet of Class A office space and 32,000 square feet of ground-level retail space.(foto: miami, ugo colombo)

Experts Point to Strength and Resiliency of Miami Real Estate Market

MIAMI — After eight years of record or near-record residential sales, the Miami real estate market is normalizing with steady growth, various prominent local market experts said during a recent MIAMI Association of REALTORS® (MIAMI) event.The fast-sales growth of Miami mid-market properties, the continued high-percentage of all-cash buyers, preconstruction condo inventory in the rapidly-growing Downtown Miami area and South Florida’s overall population and job increases are boosting the market, experts said during the recent Real State of the Miami Market event at the Biltmore Hotel.Edgardo Defortuna, the president of Fortune International Realty, applauded MIAMI for hosting the event in the wake of several unbalanced and inaccurate media articles.“One thing that affects our market the most is perception because eventually perception becomes reality,” Defortuna said. “We need to change the perception. We need to combat the negative headlines because the reality of our market is completely different. When people say Miami (preconstruction condo) developers are reducing their cash deposit requirements from 50 to 30 percent; it’s taken totally out of context. These buildings are reducing deposit schedules because they don’t need the money anymore. They are already 80, 90 percent sold and close to completion.”
Single-family homes priced between $200,000 and $600,000 saw a 5.8 percent year-over-year increase in April, growing from 685 to 725. The sector represented 63.0 percent of total Miami single-family home sales in April 2016.Existing condos priced between $150,000 and $300,000 saw a 2.7 percent-rise in sales in April, increasing from 485 transactions to 498. This sector represented 39.2 percent of total existing Miami condo home sales in April 2016.
Miami bargain prices compared to other world-class cities and the lack of available land are also key factors in today’s market, experts said.A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average, according to the National Association of REALTORS® (NAR). Prices for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) are at least five times higher.The lack of Miami-Dade County available land means the value of local single-family homes will rise and more residents will purchase multifamily units.
Most Miami preconstruction condo developers require a 50-percent cash deposit on new units. The deposit is not only one of the highest in the United States but is significantly higher than the 20 percent required during the last real estate cycle. The large all-cash deposits are a strong sign home buyers are committed and invested in the Miami market.The majority of new construction is happening in Downtown Miami, and developers are being cautious not to overbuild. About 85 percent of condos under construction in Downtown Miami are sold, according to Integra Realty Resources and the Miami Downtown Development Authority. Downtown Miami has about 7,200 units under construction, a 61.2 percent smaller inventory than the 18,500 units under construction in 2006.About 78 percent of new construction Downtown Miami units closed all cash in 2015. About 64 percent of all resale inventory closed all cash in 2015.While noting preconstruction sales have normalized compared to the previous record-activity, Graziano believes developers are taking a break and doing site plans before announcing future plans. The overall percentage of all-cash buyers (48.6 percent) remains double the national average. In hot submarkets such as Brickell in Downtown Miami, the all-cash percentage is 82 percent.
South Florida’s growing population will continue to fuel more home sales, experts said. The Miami-Dade, Broward and Palm Beach metro area recently became the eighth-most populous region in the U.S., eclipsing 6 million residents for the first time, according to new U.S. Census Bureau data. South Florida gained almost 500,000 new residents in the past five years.Another strong indicator for housing is job growth. The number of employed Miami-Dade County residents increased 2 percent, growing from 2.13 million residents in 2013 to 2.18 million in 2014. The percentage of Miami-Dade residents earning more than $75,000 a year increased 4.1 percent in the same time period. The local population is also getting more educated, a key factor in a growing economy. The share of Miami-Dade residents with graduate degrees increased 7.5 percent from 2013 to 2014. The population has seen a 12 to 17 percent growth in associate, bachelor and graduate degrees.Downtown Miami is the epicenter for population and wage growth in South Florida. Downtown has grown from 40,466 residents in 2000 to 80,000 today, according to the Miami Downtown Development Authority. Brickell has seen the largest increase, growing from 12,904 residents in 2000 to 32,489 today.
The remainder of the 2016 will see fewer sales than last year and pricing will be hard to predict, Graziano said. Waterfront properties or other unique projects will outperform. The pricing for properties below $1 million will remain strong but inventory expansion should be watched.The overall average pricing remains strong in South Florida. Sellers should expect to see more competition as buyers become more selective. South Florida’s economic growth and population increases will play key roles in the direction of 2016 residential pricing.

Miami Residential Market Registers $1.04 Billion Total Sales in April

Miami-Dade County residential properties totaled $1.04 billion in sales in April and all local Multiple Listing Service (MLS) sales posted robust price gains, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the MLS system.The median sales price for existing single-family homes rose 9.6 percent year-over-year in April 2016, from $260,000 to $285,000. The median sales price for existing condominiums increased 8.0 percent to $215,000 from $199,000. Miami-Dade existing condo prices have risen in 57 of the last 59 months.“Miami real estate remains at 2004 pricing levels despite more than four years of increases,” said Mark Sadek, a Coral Springs Realtor and the 2016 MIAMI Chairman of the Board. “The growing scarcity of local distressed homes and increased properties selling in the popular price ranges is factoring in the rise of prices.”Miami real estate remains a bargain worldwide. A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average, according to the National Association of REALTORS® (NAR). Prices for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) are at least five times higher.International buyers continue purchasing South Florida property. Thirty-six different countries, for instance, are represented among the buyer pool in one Miami residential tower. In Sunny Isles Beach, 23 different nationalities have bought preconstruction units in one condo building. This increased diversification of foreign buyers is the new norm for Miami real estate.
Historic-low mortgage rates should continue to attract future buyers. According to Freddie Mac, the average commitment rate (link is external) for a 30-year, conventional, fixed-rate mortgage fell from 3.69 percent in March to 3.61 percent in April, which is the lowest since May 2013 (3.54 percent).
Total existing Miami-Dade County residential sales — which posted a record year in 2013 and near record years in 2014 and 2015 — decreased 10 percent year-over-year from 2,689 to 2,419 last month.Miami-Dade County single-family home transactions decreased 7.6 percent in April, from 1,245 to 1,150. Existing condominium sales — which declined 12.1 percent, from 1,444 to 1,269 — are competing with a robust new construction market, which continues to add inventory.A 46.7 percent year-over-year drop in total distressed sales, from 767 transactions in April 2015 to 409 last month, contributed to the lower sales activity. Only 16.9 percent of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, compared to 28.5 percent in April 2015. In 2009, distressed sales comprised nearly 70 percent of Miami sales.Short sales and REOs accounted for 3.0 and 13.9 percent, respectively, of total Miami sales in April 2016. Short sale transactions dropped 45.9 percent year-over-year while REOs fell 46.8 percent.
Traditional homes, meanwhile, are seeing steady price growth. Non-distressed Miami single-family homes saw a price growth of 1.7 percent in April, growing from $295,000 to $300,000.
Nationally, distressed sales comprised 7 percent of all sales in April, down from 10 percent a year ago, according to the National Association of REALTORS® (NAR).Total Miami residential properties combined for $1.04 billion in total sales volume in April 2016, about 10.3 percent lower than the $1.16 billion sold during the same month last year. The aforementioned sales volume does not include the strong new construction condo sales figures.
Mid-priced Miami homes are seeing increased sales. Single-family homes priced between $200,000 and $600,000 saw a 5.8 percent year-over-year increase in April, growing from 685 to 725. The sector represented 63.0 percent of total Miami single-family home sales in April 2016.Existing condos priced between $150,000 and $300,000 saw a 2.7 percent-rise in sales in April, increasing from 485 transactions to 498. This sector represented 39.2 percent of total existing Miami condo home sales in April 2016.The median number of days between the listing and contract dates for Miami single-family home sales fell 18.2 percent year-over-year to 45 days. The median number of days between the listing date and closing date for single-family properties dropped 13 percent to 94 days.For condos, the median time to contract decreased 14.3 percent year-over-year to 66 days. The median number of days between the listing date and closing date decreased 11.3 percent to 110 days.Miami real estate is selling close to listing price. The median percent of original list price received for single-family homes was 95.8 percent in April 2016, an increase of 0.7 percent. The median percent of original list price received for existing condominiums was 93.9 percent, the same as last year.
In addition to competing sales from new construction units, the lack of access to mortgage loans is also impacting existing condominiums. Of the 8,523 condominium buildings in Miami-Dade and Broward Counties, only 23 are approved for Federal Housing Administration loans, down from 29 last year, according to statistics from the Florida Department of Business and Professional Regulation and FHA.At last week’s 2016 REALTORS® Legislative Meetings & Trade Expo, U.S. Housing and Urban Development Secretary Julian Castro announced beneficial changes to FHA condo rules are moving forward and are currently at the Office of Management and Budget for review.
The policy would streamline the condominium recertification process, expand its definition of acceptable owner-occupied units to include second homes not owned by investors and change the way it views co-insurance clauses. The MIAMI government affairs team advocated for the changes and continues to monitor and support increased condominium recertification.Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 1.7 percent to a seasonally adjusted annual rate of 5.45 million in April from an upwardly revised 5.36 million in March, according to NAR. Sales are now up 6.0 percent from April 2015.Statewide, closed sales of existing single-family homes totaled 24,144, remaining relatively the same (down 0.6 percent) as April 2015, according to Florida Realtors. Florida’s condominium sales totaled 10,738 last month, down 5.3 percent compared to April 2015.
The national median existing-home price for all housing types in April was $232,500, up 6.3 percent from April 2015 ($218,700). April’s price increase marks the 50th consecutive month of year-over-year gains.The statewide median sales price for single-family existing homes last month was $213,000, up 9.2 percent from the previous year, according to Florida Realtors. The statewide median price for townhouse-condo properties in April was $160,000, up 4.4 percent over the year-ago figure.
Miami cash transactions comprised 48.6 percent of April total closed sales, compared to 51.7 percent last year. Miami cash transactions remain about double the national average of 24 percent. Miami’s high percentage of cash sales reflects South Florida’s ability to attract a diverse number of international home buyers, who tend to purchase properties in all cash.Condominiums comprise a large portion of Miami’s cash purchases as 62 percent of condo closings were made in cash in April compared to 33.7 percent of single-family home sales.Inventory of single-family homes increased 9.2 percent in April from 5,790 active listings last year to 6,320 last month. Condominium inventory increased 15.9 percent to 14,011 from 12,087 listings during the same period in 2015.There is a 5.6-month supply of Miami single-family homes, an increase of 12 percent from April 2015, which indicates a sellers’ market. There is an 11-month supply of condominium inventory, a year-over-year increase of 22.2 percent, which indicates a buyers’ market. A balanced market between buyers and sellers offers between six and nine months supply of inventory.Total active listings at the end of April increased 13.7 percent year-over-year, from 17,877 to 20,331. Active listings remain about 60 percent below 2008 levels when sales bottomed.New listings of Miami single-family homes increased 2.3 percent from 1,762 in April of last year to 1,803 last month. New listings of condominiums decreased a negligible 0.3 to 2,503 last month, compared to 2,511 during the same time period in 2015.
Nationally, total housing inventory at the end of April increased 9.2 percent to 2.14 million existing homes available for sale, but is still 3.6 percent lower than a year ago (2.22 million). Unsold inventory is at a 4.7-month supply at the current sales pace, up from 4.4 months in March.Most Miami preconstruction condo developers require a 50-percent cash deposit on new units. The deposit is not only one of the highest in the United States but is significantly higher than the 20 percent required during the last real estate cycle. The large all-cash deposits are a sign home buyers are committed to the Miami market.Developers are also being cautious not to overbuild. About 85 percent of condos under construction in downtown Miami are sold, according to Integra Realty Resources and the Miami Downtown Development Authority. Downtown Miami has about 7,200 units under construction, a considerably smaller number than the 18,500 the area had under construction in 2006.To access April 2016 Miami-Dade Statistical Reports, visit http://www.SFMarketIntel.com

Miami Mid-Market Properties Post Double-Digit Sales Growth in 1Q

MIAMI — Mid-market single-family homes and condominiums registered double-digit sales growth as prices for all Miami existing properties rose for the 17th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the local Multiple Listing Service systems.The $200,000 to $600,000 single-family home sector posted a 10.6 percent year-over-year sales increase in the first quarter of 2016. The sector, which comprised 59.5 percent of all Miami single-family closed sales last quarter, had 1,765 sales in 1Q 2016 versus 1,596 in 1Q 2015. In existing condos, the $150,000 to $300,000 price range registered a 12.8 percent sales increase, growing from 1,148 to 1,295. The sector comprised 38.9 percent of all existing condo closed sales last quarter.“Miami real estate priced in the mid-market continues to be a major attraction for home buyers from all over the world,” said Mark Sadek, the 2016 MIAMI Chairman of the Board. “Today’s historic-low mortgage rates and South Florida’s diversified and growing job market are encouraging more consumers to purchase property in one of America’s most dynamic cities.” According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.74 percent for 1Q 2016, slightly up from the 3.72 percent average recorded during the same quarter a year earlier.Total existing Miami-Dade County residential sales — which posted a record year in 2013 and near record years in 2014 and 2015 — declined 8.9 percent year-over-year in the first quarter of 2016, from 6,908 sales to 6,294.
Single-family home sales — which have posted three consecutive years of record sales — declined 6.8 percent in 1Q 2016, from 3,184 to 2,968. Existing condo sales fell 10.7 percent, from 3,724 to 3,326. Existing condos are competing with a robust new construction market, which continues to add inventory.The median price for single-family homes in Miami-Dade County increased to $275,000 in the first quarter, a 10 percent jump from $250,000 in the same period last year. The median price for existing condominiums increased 4.3 percent year-over-year from $198,000 to $206,450.All Miami-Dade County residential properties have now seen 17 consecutive quarters of price growth, a span stretching more than four years. Despite the steadfast growth, Miami prices remain at 2004 levels.Miami’s residential properties remain more affordable than other global cities, according to the National Association of Realtors 2015 Profile of Home Buying Activity of International Clients. NAR analyzed the cost of a 120-square meter condo in a number of foreign cities based on prices reported in the Global Property Guide. A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average. The price for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) were at least five times higher.Nationally, the median existing single-family home price in the first quarter was $217,600, up 6.3 percent from the first quarter of 2015 ($204,700), according to NAR. The national median existing-condo price was $204,700 in the first quarter, up 5.8 percent from the first quarter of 2015 ($193,500).Statewide, the median sales price for single-family existing homes in 1Q 2016 was $203,500, up 11.8 percent from the same time a year ago, according to Florida Realtors. The Florida median price for condos during the quarter was $153,000, up 5.5 percent over the year-ago figure.Nationally, total existing-home sales for single-family and condominiums rose 1.7 percent to a seasonally adjusted annual rate of 5.29 million in the first quarter from 5.20 million in the fourth quarter of 2015, and are 4.8 percent higher than the 5.05 million pace during the first quarter of 2015, according to the National Association of REALTORS®.Statewide, closed sales of single-family homes statewide totaled 57,913 in 1Q 2016, slightly up (0.3 percent) over the 1Q 2015 figure, according to Florida Realtors. Florida’s townhome-condo market totaled 24,534 during 1Q 2016, down 6.1 percent compared to 1Q 2015.
Seller confidence in Miami’s housing market continued to expand in the first quarter. Miami real estate had 20,446 active listings in the first quarter, a 13.3 percent increase from the 18,046 listings at the same time last year.The inventory for single-family homes increased 8.2 percent, from 6,004 to 6,494. Miami existing condo inventory grew 15.9 percent, from 12,042 to 13,952.The Miami single-family home sector is in a seller’s market, while existing condos are in a buyer’s market. At the current sales pace, the number of active listings represents 5.7 months of inventory for single-family homes and 10.8 for condominiums. A balanced market between buyers and sellers offers between six and nine months of supply inventory.
The median time to contract for single-family home listings was 59 days, a 15.7 percent decrease from 70 days in 1Q 2015. The median time to contract for existing condos was 72 days, a 10 percent decrease from 80 days in 1Q 2015.The median number of days between the listing date and closing date also declined for all properties. The median time to sale for single-family homes decreased 7.1 percent, from 126 days to 117. The median time to sale for existing condos fell 4 percent, from 125 days to 120.Miami continues to register more than double the U.S. average of residential cash buyers. About 51 percent of Miami closed sales in the first quarter of 2016 were all cash. About 25 percent of U.S. home properties are made in cash, according to the latest NAR statistics. About 56.4 percent of all Miami housing transactions were made in cash in 1Q 2015.Statewide, cash sales represented 43 percent of all closed sales in the first quarter of 2016, down from 49.5 percent during the same period last year.About 65.3 percent of all Miami existing condo sales are made in all-cash. In the single-family sector, about 35 percent of all transactions are made in cash. The high percentage of cash buyers reflects Miami’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash.

Miami Realtors Honored with Innovative Practices Award

MIAMI — The MIAMI Association of REALTORS® (MIAMI) was recently recognized with its fourth International Business Leadership Award from the Greater Miami Chamber of Commerce. MIAMI won the 2016 Innovative Practices Award, which recognizes the outstanding company making substantial and impactful changes in thinking, products or processes impacting international operations.
MIAMI has signed more than 136 international partnerships with real estate organizations. MIAMI’s extensive International Referral Network links South Florida properties to more than 100,000 real estate professionals around the world. MIAMI’s International Referral Network provides MIAMI members with a competitive advantage, which benefits buyers, sellers and the communities they serve. “We are honored to accept this award from the Greater Miami Chamber of Commerce,” said Teresa King Kinney, the chief executive officer of MIAMI. “Engaging in global business and international partnerships is a top focus for our association. We have been signing partnerships with Realtor associations around the globe since 1996. The partnerships help create greater exposure for the South Florida market, increase business opportunities and fuel a stronger local economy. These partnerships are important and beneficial to all organizations involved.”The Greater Chamber of Commerce honored MIAMI during its recent event at the Rusty Pelican in Key Biscayne. MIAMI also won International Business Leadership Awards in 2009 (Innovation and Innovative Practices), 2012 (Innovation and Innovative Practices) and 2013 (Business Expansion).In addition to its 136-plus global partnerships, MIAMI hosts an annual International Real Estate Congress. Last year, MIAMI co-presented the 21st annual International Real Estate Congress, which was shared for the first time with the Greater San Diego Association of REALTORS®.The Miami event, held Nov. 8-10 at the Biltmore Hotel in Coral Gables, featured foreign delegates from Spain, France, Ecuador, Brazil, El Salvador, Peru, Costa Rica and Argentina. The San Diego event, held Nov. 10-11 at the Hard Rock Hotel, had international delegates from Russia, United Kingdom, Brazil, Japan, Mexico, Costa Rica and Bulgaria. Real estate professionals networked, learned, and collaborated with each other in the globally-acclaimed, award-winning event.The 2016 MIAMI International Real Estate Congress will be held Oct. 31- Nov. 1, 2016 at the Biltmore Hotel in Coral Gables. Congress activities begin Oct. 26, 2016 and end Nov. 2, 2016. Registration includes chartered transportation from Miami to the 2016 NAR Conference & Expo in Orlando as well as property tours and programming in Broward, Palm Beach and Martin counties. Visit: http://www.miamicongress.com (photos: Deborah Boza-Valledor, Alberto Carvalho, Mark Rosenberg, Alicia Cervera)