Miami’s growing international economy, and tax breaks for new businesses, investing in real estate in Miami (or selling your property) is making a lot more sense– especially considering that WalletHub just listed four South Florida cities on its 2014 list of best cities to start a business/startup. It’s no wonder that so many wealthy foreigners are sending their twenty-something year old kids (and setting them up with fabulous apartments) to unleash their creativity and work on their startups. I don’t doubt that the next Zuckerberg will be borne out of South Florida.
Out of 150 U.S. cities, Miami ranked No. 87 on the list for best places to start businesses, followed by Pembroke Pines ranted at No. 63, followed by Ft. Lauderdale was placed at No. 86.
WalletHub’s analytics used metrics based on affordability of office space, educational background and local labor force.
My Miami based social media marketing agency, Eco Press, is currently working with several startups, and I am so excited to see what the young techie minds flocking to Florida will come up with. Here’s to the next ‘big one!’
In Miami Beach real estate and finance news, the city has approved a small property tax decrease. In the upcoming 2013-2014 fiscal year, residents can expect to pay slightly less in taxes. The city will compensate for this minute decrease through higher permit fees and local business tax collection. On Monday, Miami Beach city commissioners gave final approval and lower tax rate is now in effect. Miami Beach residents will pay $6.12 per $1,000 of taxable property.
30-year fixed mortgage rate loans in the U.S. just dropped to 4.32 percent from 4.5 percent- a two month low- as per Freddie Mac. This while 15-year mortgage loan rates fell to 3.37 percent from 3.54 percent. According to the Mortgage Bankers Association, mortgage application for home purchases leapt in the last six months in a rush to take advantage before tapering begins. (More of the article available at Bloomberg News).
Now is one of the best times to take advantage of low mortgage interest rates and buy your first house in Miami (hopefully, a pet-friendly property). The following are some listings of Miami houses available for sale. It will be my pleasure to help you and your beloved pet/s find just the right place to call home.
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Not since 2007 has a bank loaned a construction loan as large as the recent $214 million one, dispersed by Wells Fargo to the Dezer group (developers of the Porsche Design Tower), set to be erected in Sunny Isles Beach. The Porsche Design Tower project is one of the first of its kind; boasting robotic car elevators for its 132-unit, 60-story condo building. The building’s residences range in size from 4,800 to 17,000 square feet and remaining units are priced from $4.8 million to $32.5 million.
According to Gil Dezer, president of Dezer Development, the preconstruction project at 18555 Collins Avenue in Sunny Isles Beach is projected to sell out by the end of the year. “This is extremely positive news for real estate financing and the recovery of the residential real estate market in South Florida,” Dezer said in a release. “It is also a testament to how this one-of-a-kind project has been received by our buyers, as well as the lending community.” This could be great news for developers and for the commercial real estate industry.