Design: What Styles are Popular in Luxury Residences Right Now

Home décor and clothing can go in and out of fashion, but when it comes to real estate there are some styles that are timeless. The style of house you choose can vary based on personal taste, the climate of the area you are in and the price range you have. Since the climate varies depending on which area you live in, there may be certain styles of houses that are better suited for the environmental conditions in the area. The materials used to build single family homes and even luxury towers need to be able to withstand the weather of the environment they are in.

Practical reasons for choosing a house style

Variations in temperatures, humidity and weather are why a home must be able to adapt to the environment it is built in. For areas prone to tornadoes, you will find buildings made with stronger materials and have a storm cellar to provide shelter in case of an emergency. For properties in areas prone to wildfires, houses are often made of less flammable material can help to prevent it from being burned down during a surge. For houses in areas that are prone to flooding, you may see more homes built on stilts, or using garages as the first floor in order to mitigate damage down the road. These buildings also need to be made of water resistant materials to prevent mold and help to maintain the structure of the house by preventing degradation.

Popular house styles in Miami

  • Mediterranean- These houses have clay roof tiles, arched windows and doorways with wrought iron detailing as well as stucco walls on the exterior.
  • Art Deco- These houses are geometric with smooth stucco exteriors, rounded corners and bold decor.
  • Mission style- These houses have red tile roofs with smoothed out exterior stucco walls.
  • Mid Century modern- These houses are asymmetrical with flat roofs and open concept floor plans. They also have a bi-level structure, angular details and large glass windows that provide wide views of the outside from within the living space.

Choosing a house that is both aesthetically pleasing and made to last will help ensure that a homeowner feels confident in their investment. The weather resistant materials and protection that the building provides can make the homeowner feel secure in their new environment. The connection they feel to the design they chose can put the final touches into the house to make it feel like a home. CMC Group is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!

Why You Should Get a Luxury Property in Miami

Miami is known for being a city rich with culture, great nightlife, incredible food and beautiful beaches. The warm weather makes it a destination for those who want a change from the cold winters characterized by the northeast and Midwest, and the cloudy rainy weather common in the northwest. The lower taxes in Florida also make it a great place for those who want to live in a city with all of the benefits of having services and luxuries accessible at your fingertips, but with a lower tax bill. Compared to the sky high taxes and heavy expenses of living in a city in the northeast or on the west coast you can get more for less cost in Miami. You get to experience a higher quality of living for your money all while having an environment that is warmer year round.

Benefits of living in Miami

  • Weather- Miami has short, mild winters and consistently warmer weather year-round.
  • Accessibility- There is a great public transportation system in Miami which makes it easy to commute without needing a car.
  • Taxes- The taxes in Florida are low and there is no income tax for residents.
  • Cost of living- The cost of living is lower on average than many major cities across the country. In fact, the cost of living in Miami is 22% lower than in New York City, and 24.2% cheaper than living in Boston.

For those who are considering buying luxury property, Miami is a great choice to get more out of your investment. With the benefit of no income taxes and lower taxes overall in Florida, you get to keep more of your money to use for things that you want and can use for making additions to your house. The great environment Miami provides from the pristine beaches with spectacular views and the fun nightlife that the city provides are sure to keep you entertained. The pleasant warmer weather year-round means you can put your heavy winter clothes into storage, and you will no longer have to worry about shoveling your driveway or paying for a street plow. The lower cost of living than other popular cities, especially in the northeast, makes Miami a more economical choice. The accessibility provided by the public transportation system makes it easy to travel without needing a car. Overall, Miami is a great city to live in that has many benefits without many of the drawbacks that other cities tend to have. CMC Group is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!

Factors That Can Impact Real Estate Market in 2022

The real estate market has been affected by the pandemic in so many ways in the past two years. Investors, buyers, and agents have had to adjust accordingly to stay afloat in an already highly competitive market. Going into 2022, many wonder if certain factors are going to contribute to further changes in the real estate market. While many hope for a return to normalcy, here are some possible changes to look out for heading into next year:

Low Supply

One of the most significant impacts on the market that is, and may still affect the existing market next year, is the low supply of properties. Nationwide, the housing supply has plummeted and is now the lowest it’s been since the 1970s. This is a result of uncertainty in the market.

Higher Demand

The market combined with low supply and investors and buyers steadily increasing has led to a high demand for properties. While this is good news for sellers in the market, this is still not good for those who want to purchase properties. High demand could alter the market by more properties becoming available overtime to adjust and an unfortunate increase in prices.

Price Increase

Nationwide, prices for real estate properties have increased. According to a breakdown by the N.A.R., the median price in the South was 16% higher than last year. In a separate report for U.S. households, home prices were predicted to rise 13.6% from October 2021 to October 2022. With demand continuing to increase with more millennials entering the house buying market, price increase seems inevitable.CMC Group is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!

South Florida Real Estate Market Trends for 2022

New trends pop up every day in our dynamic world, especially in the real estate market. The pandemic has changed and altered so much in the real estate market in such a short time, and Miami is not exempt. Agents and investors have had to adjust accordingly and sprint to keep up with today’s market. With those changes come new trends which can help potential buyers, investors, and agents get ahead of the competition in 2022. Here are some market trends for South Florida real estate to take note of:

Rent Over Buy

Competition is still high in the market with buyers and investors coming in. However, the amount of properties on sale in the market has gone down heavily. On the other hand, the luxury rental market in South Florida has grown with buyers renting before settling on a dream property. Investors and agents are starting to take notice of this rising trend of renting instead of buying and it could become the more dominant market of real estate the next year.

Buy Now, Not Later

Naturally, prices for luxury properties go up annually and 2022 will most definitely be no exception. Despite the low property sale winter season being in full swing, experts still advise buying your desired property as soon as possible. Two big reasons for buying now and not later are the limited inventory to take advantage of in a competitive market and the possibility of prices going up and potential buyers being priced out.

Know an Expert

Being more a piece of advice than a new trend, knowing a real estate expert can go a long way. Real estate experts with experience and clientele can give you a good idea on forecasted trends and properties for 2022. Having a reference that can give you tips, investing ideas, and even properties to take notice of can give you that extra step up over the competition.

CMC Group is one of the top luxury real estate developers in Miami and South Florida. Visit us online or contact us at 305-372-0550 today!

The Competitive Real Estate Market in Miami, FL

Miami has in no doubt been affected by the pandemic for the last two years. The same can especially be said about the real estate market. The dramatic decrease in buyers during the beginning of the pandemic has caused long-term implications. What is now occurring is a sudden increase in buyers, but a decrease in properties to buy. This in turn has led to a highly competitive market in the biggest city in Florida.

Miami, host to one of the biggest real estate markets in the country, has become victim to lower property counts but a massive increase in buyers. This, unfortunately, has the expected effect:  low supply, high demand. As a result, prices have soared. Despite all of this, closings have increased tremendously from last year. Miami Beach has had almost four times as many closings as it did last year. However, supply is down as there is currently only around four and a half months’ worth of active listings. In comparison, there was almost ten months’ worth in the beginning of the year and around thirty-eight last year. Clearly there is a shortage of properties but that is not stopping price increases and the number of buyers that want to take advantage before anything drastic happens.

Miami has become one of the most sought out places to work now that the option to work remotely is available and lockdown has been easing, however this could all change if the recent increase in COVID cases continues.

Let CMC Group help find your luxury residence by contacting us today!

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.

Miami Real Estate Continues To Surge

2021 so far has been a turbulent year as COVID continues and people are still uncertain when it will all end. Despite being more than a year into the pandemic, some areas such as the housing market are bouncing back. This is especially apparent in the Miami real estate scene. Increasing supply accompanied by very increasing demand is creating a highly competitive market, even in the wake of COVID. This surge can be attributed to a number of different components.

For starters, potential sellers are getting more comfortable with the idea of selling their homes during the pandemic. Although nerve-racking at first, both parties have found just how easy it is to complete the transaction. Sellers are feeling more confident in making big financial decisions now that businesses and vaccine availability is on the rise.

The economy is starting to bounce back so more listings are being created. A new wave of buyers is starting to arrive which means more people are confident with making big purchases in today’s market. Numbers have already shown that more money is being poured into listings everywhere, especially Miami.

However, as a result of the huge influx of listings and potential buyers, prices have considerably increased. Compared to last year, more houses and properties have been sold, but the prices have increased. This may have negative consequences on the housing market as buyers may be less enthusiastic about purchasing properties which can therefore throw off the balance of an already delicate market.

CMC Group offers luxury real estate all over Miami and is eagerly awaiting your inquiry! Contact us today!

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.

Luxury vs. Everyday Residential: How Do They Compare in Real Estate

Houses, apartments, and other properties rely on real estate agents to showcase them for potential buyers. Luxury and everyday residential real estate both have the same goal of housing people in the market to buy a home, but they are very different with what they advertise and provide.

Space

Space is a huge difference between the two with luxury providing more space and more amenities than residential typically. The rooms tend to be bigger in not only space, but height as well.

Prices

Everyday residential tends to be cheaper in price than luxury with what it provides. This leads to having more investors and buyers as the competition is higher as opposed to luxury with less investors but more exclusive clientele.

Location

Desirable locations tend to be in less populated areas, accompanied by more upscale living standards and certain attractions or businesses being close by. Residential is more flexible with locations as they can show up anywhere in suburban or urban areas.

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.

Covid: How It Has Affected Residential and Commercial Real Estate

Covid has affected the economy in ways that no one could have predicted. The way things work has changed, especially in real estate. The market was hit hard in some places but turned out to be more resilient in others. Here’s how Covid has affected both residential and commercial real estate:

Commercial

Commercial selling has been found to be more versatile than expected. During the beginning of the pandemic, listings went down as most people stayed home, but as things started to open up again, the need for social interaction and being on-site grew. The demand for commercial listings increased as a result, with investors largely not dropping out at all, but particular things buyers and investors were looking for in those places changed. Now they are looking for listings that can accommodate social distancing, air circulation, and other pandemic musts. In addition, listings for specific needs like storage, pharmacies, and other stores have gone up. The buyer’s demands have changed and so has commercial real estate with it.

Residential

Residential real estate has been greatly affected by the pandemic in comparison. During 2020, the demand for residential listings plummeted and no one was buying properties. This created a pause in the market as no one wanted to spend anything big as the future was still uncertain. However, 2021 has seen a return to more demand from potential buyers, and unfortunately, supply could not keep up with demand. There is more competition in the market than before so prices have increased significantly. Since 2020 saw prices on houses freeze, 2021 now has increased prices coming back in full swing. This issue along with fewer listings has created a highly competitive market in real estate and one can only hope that supply can increase from here.

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.

Design: What Styles are Popular in Luxury Residences Right Now

Luxury residences are special in their own way. Not because of the price spent to acquire it, but because of the living space itself. Luxury apartments, condos, and homes all have special care put into each detail to achieve a living space thousands of investors and potential buyers want. Over time, the trending interior styles of luxury homes have changed to fit with both the times and the clientele. Take a look at some popular styles for luxury residences trending right now:

Quiet Design

This particular style, known as “quiet design,” is a style which specializes in creating a calm and simple atmosphere for those who want to wind down or relax from the day’s events. This consists of having furniture with simplified shapes, nature-inspired color palettes, natural materials, and soft, organic curves. Ironically, luxury items are kept to a minimum and are only used sparingly.

Nature

With the added time inside these days comes the need to create a space which has an outdoor aesthetic to it. More and more people are starting to bring the outside in by using more nature-inspired color schemes, more natural fabrics and botanical prints. These styles are usually, if not always, accompanied by house plants or other components of nature for decoration.

Gallery

Wall art takes center stage for gallery styles as this particular style revolves around making art pieces more noticeable. Acquiring a gallery-like style means quite literally turning a living space into a showcase for art. Sought-after pieces of art to feature in the home have changed over time with this style as owners and designers tend to now lean more towards art that adds depth and texture, color, and even scenery to rooms.

CMC Group, based in Miami, is one of the best luxury developers in the city! Visit us online or call at 305.372.0550 today!

Residential and Commercial Real Estate: The Impact of the Pandemic

Residential and commercial real estate have been deeply affected by COVID-19. Both the market and the people who participate in it have proven to be versatile and resilient in these hard times.

Commercial

Commercial real estate, despite having been on pause for 2020, has made a comeback. Demand has gone back up as lockdowns are lifted and people want to be in a physical office now more than ever. Buyers changed what they desire in listings such as air circulation and open space for social distancing, and the market had to adjust accordingly. 

Residential

The residential market, like commercial, froze in place during the opening months of the pandemic. Presently, however, there is an issue of high demand and low supply as the market struggles to keep up with an increasingly competitive clientele. Prices have also gone up compared to last year as there were no changes in numbers in 2020.

Overall, the impact of the pandemic has brought many opportunities for investors leading to a saturation of the market.

Learn more about Italian-born real estate developer Ugo Colombo, CMC Group President.