Miami-Dade County is the most populous county in Florida and the eighth-most populous county in the United States. Dade county contains some of South Florida’s most exciting and luxurious addresses, such as South Beach, Miami Beach, Downtown Miami, Brickell, Coral Gables, Coconut Grove, Bal Harbor, Surf Side, Sunny Isles, Golden Beach, Indian Creek, Fisher and Star Islands. The most recent downturn in the real estate market has seen Dade County rise to been in the top 10 in foreclosures and short sales in the nation, since the real estate crisis began. This has led to tremendous buying opportunities which has fueled the influx of buying, both international and domestic, that has gone on in the last several years. Home owners that are in negative equity positions in their homes (upside down) have been increasingly turning toward short sale as a way to regain financial freedom and rejecting the devastating consequences of foreclosure. While home prices continue to fall across the country the prices in Miami have not only become stable but are in some areas even trending upward making Miami Dade one of the nation’s few recovering real estate markets.
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During the recent housing boom Broward County developers were creating primarily single family and town home communities. The single family homes that were built in Broward County tended to be in large planned communities. Areas like Weston, Southwest Ranches, Parkland, Coral Springs, Western Pembroke Pines, and Miramar all seemed to spring up overnight out of nothing. The homes built in these places all tried to cater to the growing appetite for luxury that was indicative of consumer trends. Items like granite countertops, stainless steel appliances, vaulted ceilings, and opulent master bathrooms were all mainstays in the homes built during this time. Broward County has (during the recent housing crisis) always been in the nation’s top 10 for foreclosures and short sales. Home owners that are in negative equity positions in their homes (upside down) have been increasingly turning toward short sale as a way to regain financial freedom and rejecting the devastating consequences of foreclosure. This has helped to stabilize the market and has resulted in recent appreciation in home values making Broward County one of the best places in the Country to buy a home today.
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