Good things come to those who wait. Patience is a virtue. The best things in life are worth waiting for.
There are so many sayings about the value in biding one’s time, and today’s developers certainly seem to appreciate the sentiment. With oodles of condos on the market now and even more to come, the biggest players know their bets are better placed in planning for the next cycle. The Real Deal’s Katherine Kallergis took a look at the projects South Florida’s most prominent developers are assembling for a post-condo-glut world, which include plenty of — what else? — condos!
The wait-and-see approach is how some industry players are handling the onset of Bitcoin-to-Bitcoin real estate transactions — the first couple of which South Florida has seen only recently. We dove into the benefits and drawbacks of cryptocurrency real estate transactions while also looking at the ways in which other tech tools could change how deals are done.
And while the excess of unsold condos is making developers dream of better days, brokers selling single-family homes, too, are hampered by so much supply. “It’s going to affect single-family residential. It has to,” EWM Realty International broker Judy Zeder told TRD. Her team came in second in our ranking of the top residential brokers of Miami-Dade. While sales volumes rose for many in the list, brokers said they’re working twice as hard to make deals.
Many women landed on that top brokers ranking, but on the commercial side, they are still in the minority. TRD’s research team dug into state filings to learn just how many female agents work at the top commercial brokerages in South Florida. The finding? At companies where women had the largest presence, they still only made up about 38 percent of the broker workforce. Lady leaders discuss their experiences and the needed changes in the industry here.
Other issue highlights include a look at the deliciously savage fight to lure top retail tenants among the area’s three luxury shopping centers and managing editor Ina Cordle’s interview with Paramount Miami Worldcenter developer Dan Kodsi. The best advice he’s ever heard? Have no expectations.
Enjoy the issue!