StatFunding Press Release
StatFunding Comments on the Local Real Estate Market With Actualidad Radio Miami
September 26, 2016Today Andrew Stearns, CEO of StatFunding.com, spoke with Actualidad Radio 1020 and 1040AM about the state of the Miami real estate market, trends, and potential opportunities. For the last 5 years Miami has seen unprecedented increases in rental prices for homes, apartments, and condos, along with steady increases in median prices of single family homes and condos.
StatFunding.com is a platform that allows individual and institutional investors to take fractional or whole participations in commercial real estate loans. StatFunding periodically releases internal reports on market conditions. StatFunding's reports are widely considered to be the most in depth and accurate analyses of the state of the Miami condo market.
Actualidad Radio questioned Stearns on whether the recent trends are likely to continue. Andrew Stearns said, “No person has a crystal ball and can foresee the future. The Miami real estate market is historically one of the most volatile in our country. However, it does appear that there has been a meaningful slowdown in the existing condo resale market, and it does appear that rents are finally starting to top out, and in some cases come down from the highs reached in the last few years.” When asked if the market was headed for a nosedive, Stearns commented, “There is no way to tell if the market overall is headed for a nosedive. But, opportunities may arise in certain submarkets for savvy buyers. For renters, the future looks bright with an almost unprecedented number of apartments and investment condos nearing completion.”
The Miami preconstruction condo market has been under pressure in 2016. In August 2016, condo flippers experienced continuing weakness in the Miami preconstruction condo resale market in August. With more than 700 units listed for sale, a total of 8 resales of year 2012-2016 vintage condos closed in August (17 projects included in the review). Sellers suffered losses on 7 out of 8 resales (87.5%).
On the market going forward, Stearns said, “Miami is a very desirable international destination. Among other things, Miami has clean water, clean air, beautiful weather, and endless year-round entertainment. In the event the real estate market enters a correction phase that might be a time for investors to move quickly.”
Actualidad Radio 1020 and 1040AM is a Miami Spanish language radio station, which focuses primarily on news and information at the Miami local level.
StatFunding.com is a platform that allows individual and institutional investors to take fractional or whole participations in commercial real estate loans. StatFunding periodically releases internal reports on market conditions, which are widely considered to be the most in depth and accurate analysis of the state of the Miami condo market.
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