If you weren’t quite sold on the notion that the Miami real estate market hasn’t just rebounded, but is charging full steam ahead, then please keep reading. One day last week, there were not one, not two, but three different developers that launched condo projects in Miami. Two of the projects, The Bond and SLS Brickell, are in the downtown Brickell area. The other project, The Crimson, is located on a vacant waterfront lot in the aptly named Edgewater. If these particular projects don’t entice you, which by the way have already sold a number of units, then take a look at some of the other exciting pre-construction condo projects sprouting up around Miami.
Now, before everyone starts wondering if the world went into a time warp and we are suddenly back to where we were about 10 years ago, rest assured that real estate brokers, consultants, and developers acknowledge that the current real estate market is nothing like the previous boom. In addition to recognizing the differences, most involved are also approaching development and sales more conservatively. It is clear from the cautious optimism that the prior lessons are guiding present actions. In addition, and perhaps of more importance, banks have far more stringent lending standards than before, and financing in general is not nearly as easy to obtain, like it was in the madness that occurred a decade ago. So, not only are we back, but we are doing things even better now!