Florida Real Estate and Community News by MMD Realty

Miami has moved up in the closely watched Knight-Frank survey of cities that are most important to ultra-high-net-worth individuals.

In the survey, Miami ranks sixth in the world, up from seventh place in 2014. In the western hemisphere, only New York ranks higher.

The report notes the 'huge waves' of investment flowing into Miami from Latin America. In addition to condo developments investors from Latin America are now diversifying into commercial investments in the city. 

New sources of investment, such as technology and film, are also being forecast for Miami. Private investors from Hong Kong are likely to follow developer Swire into Miami. Miami is also now "firmly on the radar" of wealthy investors from mainland China, according to sources.

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Real estate taxes in Florida are expected to hit the $2.3 billion mark in 2015, an increase of over $200 million.

Documentary tax receipts, which peaked at around $4 billion in 2006 and plunged to below $1.5 billion in 2009, could continue their increase over the last few years to $2.3 billion.

Environmentalists are watching this increase closely thanks to the Florida Water & Land Legacy Amendment 1. Recently approved, this amendment allows the state to use one third of the tax collections for land and water protection and conservation.

Legislative committees are scheduled to meet in the coming weeks to discuss how the money should be spent.

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I'm so excited to market this gorgeous waterfront home off of famed Las Olas Boulevard. With 90' of deep water frontage, this expertly finished home at 2300 Barcelona Drive, Fort Lauderdale, is truly remarkable! The new owners will benefit from the sellers' level of detail and perfection from the steel frame and poured concrete construction that will withstand winds up to 150mph, to all arched solid wood doors, imported 18th century tiles, custom wrought iron work, Crestron/Lutron systems, whole house generator and impact windows and doors. I love when the homes I market are gorgeous and sell themselves!

2300 Barcelona Drive Back

For more information about 2300 Barcelona Drive, please feel free to email me Michelle@MMDRealty.com.
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After more than 50 years, President Obama announced plans Wednesday to restore diplomatic relations with Cuba and broaden business ties after the swap of several jailed spies and the release of an American contractor held in a Havana prison.

South Florida could see substantial economic benefits if the U.S. and Cuba continue to make strides in stabilizing their relationship including many key industries such as banking, travel, shipping, trade, and real estate.

The head of Miami-based construction firm Coastal Construction Group, Tom Murphy, told the Miami Herald the new policy was “a first step,” and he’d like to see the embargo lifted next. Murphy said that could provide new business opportunities for those in Miami’s real estate industry. “I

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The Importance of Checking - REALLY CHECKING- Buyers Financial Capacity

By: Michelle Ross

I received a call yesterday to show one of my multi-million dollar listings. My first reaction, of course, was delight. After getting a bit of history from the gentleman who called me, I told him that our protocol was to always verify either proof of funds or a letter of financial capacity prior to the showing. I gave him my email address and told him I would confirm the showing once the documentation was verified.

**I want to interject a few thoughts here: 1) If a buyer gets offended that you are asking for these types of credentials, then the chances are they are NOT LEGIT! 2) It is incumbent upon you, as the listing agent to thoroughly check the

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The Virgin Group has partnered with Bain Capital and together are forming a new cruise line with plans to design and construct two new world class ships that will launch out of Miami/Fort Lauderdale-area ports. This will be the first major new entrant in the industry since Disney Cruise Line was formed in 1996.

Virgin Cruises has appointed former CEO of Fort Lauderdale-based The World, Residences at Sea, Tom McAlpin, as CEO of the new venture. McAlpin also served as president of Orlando's Disney Cruise Line as a member of the original founding management team.

Little information has been released about what Virgin Cruises will offer, but Branson has promised "to shake up the cruise industry" he said in an official statement. The official

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The Miami Association of Realtors has recently released their latest quarterly report and their statistics show that real estate in Miami is still a very desired commodity. Miami has seen 11 consecutive quarters of price growth for both condos and single-family homes, fueled by both foreign and domestic buyers.

During the third quarter of this year, the median sales price for a home in Miami-Dade County was $250,000, an increase of 8.7% compared to the same period last year. Condos saw an increase of 3.5%, bringing the median sales price to $189,000. It's important to note that there has been a 5% increase in inventory over the last 12 months. Home prices and sales are more moderate which is resulting in a more balanced real estate market. 

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Icon Las Olas, a high-rise condominium project that has been 15 years in the making, has finally cleared its last legal hurdle to begin construction, according to the Sun-Sentinel. The Related Group will start construction as early as December and expected to be completed by early 2017.

The 45-story building was first proposed in 1999, but was opposed for years by the neighboring Stranahan House museum over concerns that the building would cast a constant shadow over the historic home. The case was dismissed in 2011, however the project was again delayed due to market conditions.

Related Group currently has two other projects in the pipeline in Broward County: Auberge, the first new truly-oceanfront condominium in Fort Lauderdale in over a decade.

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The smart money is on Fort Lauderdale for investors in rental properties looking for stable returns in college towns, which are becoming increasingly desirable investment opportunities.

The city, which is home to Broward College — among other institutions of higher education – boasts an annual gross rental yield of 8.79 percent and an unemployment rate below the national average at 5.7 percent, according to a report released Tuesday by RealtyTrac.

Gainesville ranked third in RealtyTrac’s “Top 10 College Towns for Buying Rental Properties” list with an annual gross rental yield — calculated by dividing the annualized rental income by the average of the city’s median home sales price – of 11.34 percent.

Investors looking outside the Florida

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Exclusive Event: Celebrity Chef Cooking Demo and Wine Tasting

The first event in our Portfolio Event Series takes place this Thursday, October 16th at our gorgeous French Provincial-styled 16,000 square foot mansion. Top brokers from Miami, Fort Lauderdale and The Palm Beaches will be treated to an afternoon of great food with a cooking demonstration, by celebrity chef Dirk De Cuyper, a sommelier instructed wine pairing and an exotic chocolate journey while enjoying tunes by DJ1Tre. As a parting gift, guests will receive a signed copy of Charting Culinary Courses by Dirk De Cuyper.

The venue is one of my favorite homes, not only in South Florida, but of all-time! Down to the smallest detail, this home is impeccably finished with the ultimate in

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