Property Management

Sales of investment and vacation homes jumped in 2011, with the combined market share rising to the highest level since 2005, according to the National Association of Realtors® (NAR).

NAR’s 2012 Investment and Vacation Home Buyers Survey, covering existing- and new-home transactions in 2011, shows investment-home sales surged 64.5 percent to 1.23 million last year from 749,000 in 2010. Vacation-home sales rose 7.0 percent to 502,000 in 2011 from 469,000 in 2010. Owner-occupied purchases fell 15.5 percent to 2.78 million.

Vacation-home sales accounted for 11 percent of all transactions last year, up from 10 percent in 2010, while the portion of investment sales jumped to 27 percent in 2011 from 17 percent in 2010.

NAR Chief Economist Lawrence Yun said investors with cash took advantage of market conditions in 2011. “D Continue reading post…

International buyers spurred Miami-area home sales to a new record in 2011, even exceeding sales volume during the height of the real estate boom in 2005, according to figures released Friday.

Broward County results were mixed, although inventory across both counties showed widespread depletions.

A total of 24,929 condominiums and homes were sold in Miami-Dade County, up 46 percent from 2010 and up 4 percent compared to 2005, according to the Miami Association of Realtors and the Southeast Florida Multiple Listing Service. Condominiums sales surged 54 percent, to 15,009 in 2011, and home sales rose 36 percent to 9,920.

Were on the verge of a real estate boom, said Miami Association of Realtors Residential President Patricia Delinois, citing an array of properties from the Design District and Brickell to Miami Beach.

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