Miami's Condo Market is Plummeting (Miami Beach, South Beach: credit, prices, beach)

[SanyBelle]

Originally Posted by Ms. Intelligence

Well fiddlesticks! Now we finally understand why "Bob Dreamz" is Miami's # 1 errand boy!

Glad you finally understand that since you have been a member here since January 16, 2017.

Welcome!!

[elias9193]

Originally Posted by SanyBelle

Glad you finally understand that since you have been a member here since January 16, 2017.

Welcome!!

Don't let Ms Intell fool you, he's been around a whole lot longer than that.

[WestGuest]

Is the market tumbling in Miami Beach too? Is this all opinion or is there data?

[ElGuito]

Originally Posted by WestGuest

Is the market tumbling in Miami Beach too? Is this all opinion or is there data?

Although not to the scale of the global mortgage crisis of 2008, are ya'll saying that in the next year or so, we're going to see foreclosures, people walking away and the banks with many abandoned condo property?

[AnnRyan]

Originally Posted by ElGuito

Although not to the scale of the global mortgage crisis of 2008, are ya'll saying that in the next year or so, we're going to see foreclosures, people walking away and the banks with many abandoned condo property?

I think we're going to see a serious slowdown when it comes to Brickell and luxury in general. But most of that stuff was bought CASH. There's no bank to foreclose. Some owners may take a loss and sell, but if they can keep them rented and at least cover the expenses, my bet is that the majority will just hold onto the units.

But yeah, I do think we'll be seeing a buyers market when it comes to luxury.

[Bobdreamz]

Originally Posted by Ms. Intelligence

Well fiddlesticks! Now we finally understand why "Bob Dreamz" is Miami's # 1 errand boy! Bobby is a slimy Miami real estate agent. No wonder every post he says "Miami is so wonderful".... jajaja Bob, you benefit rather nicely from dirty immigrant money don't you? I hope you saved up all your comissions because the party is ending very soon!

How silly of you calling me slimy since I'm just a broker and am facilitating a legal financial transaction.
You obviously have no clue how finances work.
If you have issues with dirty immigrant money take that up with the Federal Government and what they allow under Fed Law.
You should be more concerned how "dirty immigrant money" influences American politics instead of me just making a measly real estate commission.

You seem to have a chip on your shoulder about "immigrants" anyways whether they are "illegals" or "Legals" in Miami starting with if they should speak "English" on South Beach in another thread.
Miami has a 60% foreign born population to begin with !
Were you expecting "Mayberry" ? You need to deal with reality as to what Miami is.
There are hundreds of places in the US you can move to if you never want to hear Spanish again so why torture yourself ? You obviously have a prejudice in that regard.

As for my love of Miami that started with growing up there and is a unequivocal love for the city even before my profession and it's ok if you don't share my enthusiasm about the city or metro.
Miami has become a Global city so I don't worry about it's future real estate prospects compared to other cities.
You are entitled to your opinion.

Have a nice day!

[goolsbyjazz]

Originally Posted by Bobdreamz

How silly of you calling me slimy since I'm just a broker and am facilitating a legal financial transaction.
You obviously have no clue how finances work.
If you have issues with dirty immigrant money take that up with the Federal Government and what they allow under Fed Law.
You should be more concerned how "dirty immigrant money" influences American politics instead of me just making a measly real estate commission.

You seem to have a chip on your shoulder about "immigrants" anyways whether they are "illegals" or "Legals" in Miami starting with if they should speak "English" on South Beach in another thread.
Miami has a 60% foreign born population to begin with !
Were you expecting "Mayberry" ? You need to deal with reality as to what Miami is.
There are hundreds of places in the US you can move to if you never want to hear Spanish again so why torture yourself ? You obviously have a prejudice in that regard.

As for my love of Miami that started with growing up there and is a unequivocal love for the city even before my profession and it's ok if you don't share my enthusiasm about the city or metro.
Miami has become a Global city so I don't worry about it's future real estate prospects compared to other cities.
You are entitled to your opinion.

Have a nice day!

Nice response Bob. I will look you up when we get there.

[Blackie777]

Don't let anything Ms. Intell posts rattle you guys. He / She is just a troll with nothing better to do than to talk badly about our beautiful city.

[Emil Torres]

Originally Posted by Bobdreamz

How silly of you calling me slimy since I'm just a broker and am facilitating a legal financial transaction.
You obviously have no clue how finances work.
If you have issues with dirty immigrant money take that up with the Federal Government and what they allow under Fed Law.
You should be more concerned how "dirty immigrant money" influences American politics instead of me just making a measly real estate commission.

You seem to have a chip on your shoulder about "immigrants" anyways whether they are "illegals" or "Legals" in Miami starting with if they should speak "English" on South Beach in another thread.
Miami has a 60% foreign born population to begin with !
Were you expecting "Mayberry" ? You need to deal with reality as to what Miami is.
There are hundreds of places in the US you can move to if you never want to hear Spanish again so why torture yourself ? You obviously have a prejudice in that regard.

As for my love of Miami that started with growing up there and is a unequivocal love for the city even before my profession and it's ok if you don't share my enthusiasm about the city or metro.
Miami has become a Global city so I don't worry about it's future real estate prospects compared to other cities.
You are entitled to your opinion.

Have a nice day!

From what you wrote, it seems you're expert at cash sales to intenational buyers with cash of questionable origin. Money laundering has been widely reported within the Miami real estate industry. Congratulations on your successes in the industry! I agree with you, I hope the feds target this activity.

[ElGuito]

Originally Posted by Bobdreamz

...
You should be more concerned how "dirty immigrant money" influences American politics instead of me just making a measly real estate commission.
...
....

As for my love of Miami that started with growing up there and is a unequivocal love for the city even before my profession and it's ok if you don't share my enthusiasm about the city or metro.
Miami has become a Global city so I don't worry about it's future real estate prospects compared to other cities.
You are entitled to your opinion.

Have a nice day!

Originally Posted by Emil Torres

From what you wrote, it seems you're expert at cash sales to intenational buyers with cash of questionable origin. Money laundering has been widely reported within the Miami real estate industry. Congratulations on your successes in the industry! I agree with you, I hope the feds target this activity.

Many times (or always?) it helps to see things from an outside perspective. To present just one reference, in a Central American Country, the ex-executive branch is, most of them, being processed for defraud and larceny on public funds. Laundering has evolved, several of this ex-functionaries own, millionaire properties in Miami, bought thru their proxies in the Caribbean (I'm sure there are several proxy levels) so the cash comes from a legit financial institution. I don't see how the Realtor can be assigned responsibility or blame.

I've been here barely 2 years but I share the enthusiasm about the city.