Sunny Miami, where everyone wants to live. The heart of South Florida, with lots of things to do and places to see. It has it all -- beaches, shopping, dinning and dancing, something for everyone, say local Realtors.

Realtor Ashton Coleman notes, "Downtown Miami is a fascinating place to call home. Amazing highrise projects are currently being built. The growth & development is the most saturated out of all Miami and this is the center of everything for events and entertainment. The PAC (Performing Arts Center), Carnival & Norwegian Cruiselines, Design (Arts) District, American Airlines Arena (Miami Heat), Bayside Park/ Amphitheater, and so much more on the way. There are great parks and South Beach is a 5 minute drive over the McAurthur Causeway."

He continues, "Prices on Pre-Construction are approximately $600 per square foot and up. Resales on condominiums are $350 per square foot and up, sometimes slightly less. Some newer projects can also be found at $300-$350 per square foot but sell fast. Compare this location & price per square foot to other major cities like LA, San Fran, New York, Chicago and Washington D.C. and you will notice so much more room for growth potential and appreciation over time. Miami has this large downtown skyline developing at such a fast rate we are literally seeing a city rising by the day. The views can be spectacular as the Eastern direction holds sunrises over the ocean and South Beach, cruiseship moving in and out of port, Biscayne Bay and Miami Beach views. The Western direction displays the Miami River and this great city we call home. All views east, west and in between are amazing to say the least and at night, when the city lights up, it is postcard perfect."

"The market is still hot. Homes are selling as fast as they hit the Multiple Listing Service. Yes, its a sellers market, but buyers are buying like if they were giving them away, but properties are selling over the appraise value, great for sellers, not for buyers. Unless you have a large downpayment or buying cash, it has become very hard for first time buyers to buy," says Realtor Millie Rojas.

She adds, "Home inventory levels are rising and in many areas it's taking more than 30 days for homes to sell, according to an industry survey released on Oct. 3, 2005. However, strong buyer demand, record and near-record monthly sales, continued median home price appreciation, strong job growth ad relatively low mortgage rates are fueling momentum in the nation's housing market, according to HouseHunt's latest market conditions survey. According to the survey, buyers still outnumber sellers at 61 percent and 39 percent, respectively."

Realtor Julia Argamin reports, "The City of Miami known as the "Magic City" is located in Southeast Florida, in Miami-Dade County on the Miami River, between the Florida Everglades and the Atlantic Ocean.The City of Miami, known for its diverse culture and ethnicities is the largest municipality in Miami-Dade County. According to the 2000 census, it has a population of 362,470. By the year 2010 the population in the City is projected to rise to 390,191."

"Miami which is known as the Gateway to Latin America attracts a tremendous amount of foreign born people, resulting in a large Latin American population that includes Cubans, Nicaraguans, Colombians, Venezuelans, Puerto Ricans, Argentineans, Ecuadorians, Brazilians, Dominicans, Haitians and Mexicans. According to the 2000 U.S. census, the City has a 60 percent Hispanic population , a 22.3 percent African-American population and a 11.9 percent White/other population. Recognized worldwide as an international hub, Miami successfully hosted the 4th annual Latin Grammy Awards show, the visit of the Spanish Prime Minister Jose Maria Aznar, the celebration of the Free Trade of the Americas Conference , FTAA and the MTV Music Video Awards."

Published: October 10, 2005

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