Miami's Luxury Condo Market: Fact From Fiction! With Craig Studnicky

#BETTERDECISIONS PODCAST! 🎙 🔥
In this insightful episode, we are joined by ISG co-founder and CEO of International Sales Group and RelatedISG, Craig Studnicky! Together we dive deep into the dynamic Miami real estate market. We cover various aspects of South Florida's housing landscape, providing you with valuable insights and expert opinions. Check out the chapters below to explore specific topics:
Chapters:
00:00 - Introduction
01:05 - Real Estate Broker on the Miami Market
03:02 - Bidding Wars Continue in the Housing Market
04:36 - Miami's housing and condo markets
09:13 - The Single Family Relationship with The Condo Market
11:58 - The Difficulty of Inventory Within The Luxury Condo Market for Buyers
16:44 - Real Estate Expert: Low Rates will help South Florida
20:50 - Actionability. Buyers and Sellers. What to do?
22:17 - Florida Condos: Construction Costs Have Jumped
25:51 - The Key to South Florida's Condo Market
30:50 - Buying a High-End Condo
34:27 - What to invest in? House or Condo? Go Condo!
39:54 - Does Climate Change Affect Property Insurance?
44:40 - Brickell and Edgewater condo market surges
47:37 - Miami Real Estate: Fake News
51:16 - Real Estate: Hotel Condo vs. Short Term Rentals
55:01 - Miami condo prices: How high can they go?
Join us as we unpack the trends and challenges in Miami's real estate scene, providing you with the knowledge you need to make informed decisions in this vibrant market.
Don't forget to like, subscribe, and hit the notification bell for more insightful content on real estate and beyond!
#MiamiLuxuryCondo #MiamiLuxuryCondoMarket #MiamiLuxuryCondoMarket2023 #MiamiCondos

[@jameswalker366]

Great conversation and dynamic. 👍🏻

[@DavidSiddons]

Glad you enjoyed the conversation! 🙌

[@adriaba790]

SOOO very interesting! Please bring Craig back for more!!!

[@bigmike3541]

Another great discussion guys, would love to see Craig come back sometime soon!

[@DavidSiddons]

We will definitely have him back on! Glad you enjoyed the conversation 🙏

[@ISGWorld]

We agree!

[@JesseTorres305]

I don’t see how Miami bubble could be real when over 90% of closings were CASH. The bubble is talking about the bubble. That idea will POP 🍾

[@Ignaciogonzalezarias14]

Amazing content thank you 🎉

[@bigmike3541]

more thoughts since I found this one pretty interesting. I think the characterization of Americans not wanting to wait for product is a little unfair. Interest rates are higher now so folks have a lot of options when deciding what to do with their cash. It feels like most new construction buildings are aggressively optimistic about construction timelines, often to the point that it feels like they are lying (you guys alluded to as much in this discussion). Also I don't know if it's unique to Miami, but most all new construction projects there ask for significant cash deposits well before units are delivered exacerbating this issue. I've bought two new construction condos in Chicago (one upper-mid range, one luxury) and they each only asked for 10% deposits before completion compared to 40-60% it seems for most Miami units (albeit not all at once, but still well before the units are delivered). I know you guys didn't want to name names, but the Waldorf Astoria project seems to me like one that if it is finished in 202X rather than 203X it'd be a surprise. Beautiful concept, but I'm fairly skeptical. Chicago still has a giant hole in the ground where the Spire was supposed to be. Miami obviously has far, far more interest now than Chicago ever as but still, it doesn't take that much of a shift for such an ambitious project to not make sense anymore I imagine. Five park is still the most interesting project to me and seems like it will actually be completed relatively soon. it doesn't seem like the remaining units are getting snapped up though--maybe it's just because it's mostly the smaller ones, re the conversation here. I also heard they are planning a second building near the first one (I haven't seen any info on that though), so maybe people are waiting to see whats going on there. I have some friends that have a second home near five park and it seems like it'd be a cool second home spot. cheers as always guys.

[@amandahsawyer]

loved this, so much to learn

[@DavidSiddons]

We're glad you enjoyed the episode! 🙏

[@nickgeorgiou7770]

When I first started looking here in Miami in Summer of 2021. My realtor would call the day or night before to see a SFH and by morning it was gone. We ended up with a condo in Edgewater. We’re happy with what we bought.

[@Ja-3108]

how is the property now>? still good?

[@nickgeorgiou7770]

@@Ja-3108 Not as hot but still ok.

[@seva.marketing]

It was an interesting and insightful conversation. Thank you.

[@Cocolicious08758]

You guys were so informative great collaboration 👏🏼