Is Miami making a come back?

Summary of Venezuela money helps fuel Miami housing boom Article from CNNMoney

"Two years ago, Miami was the poster child for distressed real estate in the United States," said Jonathan Miller, of Miller Samuel, a real estate appraiser and consultant. "It has now morphed into a luxury brand." (Miller)

It looks like Miami is not only winning NBA finals. The coastal city is also winning the hearts and pockets of Venezuelans along with other foreigners. According to CNNMoney, Venezuelans, Brazilians, Argentinians, and other nations are investing in Miami Real Estate. 

For the Venezuelans, Hugo Chavez's reelection of October 2012 set in motion another influx of Venezuelan cash into the Miami real estate market. While Investors from booming economies such as Brazil and Argentina, are investing their excess cash in Florida real estate, says CNNMoney. Then in other Latin American nations and Bolivia, Left center politicians have argued wealthy citizens to look for safe havens in Florida. As a result, Miami has become known as a "global gateway," (Kasdin) that attracts wealthy investors from all over the world.

Comment

So if you are a investor, a wholesaler, a realtor, etc in Florida take a moment, if you haven't already and think about what a great opportunity this can be for your business. Don't wait for bells! From this Article, it seems like there are many cash buyers coming in for property. It's a great opportunity!

References

http://money.cnn.com/2013/06/05/real_estate/miami-housing/index.html

Neisen Kasdin, real estate development attorney and former mayor of the city of Miami Beach.

Miller Samuel, real estate appraiser and consultant.