1. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Presentation Title South Florida Real Estate: BOOM or BUST!!

2. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Methodology Various data sources are combined to produce meaningful indexes, which are then used to conduct trend analyses of various types Property Tax data have been merged with Spatial data We can also enhance these data with up-to-date Employment data and Voting Records - identifying gaps in any individual data sets This type of data manipulation provides information necessary to minimize uncertainty in markets

3. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Supply & Demand Supply Analysis –Using property records to obtain amount of completed units per annum –Permits pulled to obtain number of future units –Using property records in order to determine historic trends –Pricing Demand Analysis –Demographic analysis –Income analysis –Job market

4. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Sustainability Analysis Who is moving in? –Percentage of Homestead exemptions using property records For example Four Seasons Condos only 4% have homestead exemptions In sharp contrast NEO Lofts over 30% have homestead exemptions –Percentage of Registered voters using voting records to determine stability of residents Four Seasons Condos, only 6% are registered to vote in City of Miami NEO Lofts, 46% are registered to vote in the City of Miami

5. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Residential Construction, Miami-Dade

6. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Residential Construction, City of Miami All Residential Construction

7. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Demographic Shifts Miami has experienced a significant increase in its population before the new housing inventory is finished Between 2000 and 2003 the City of Miami’s population grew from 362,470 to 382,959. This compares with a very modest 3,685 between 1990-2000. However, during the same period Miami’s African American population declined form 80,858 (22.3%) to 68,817 (18%). This compare with 11,000 decline in the African-American population between 1990-2000.

8. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Profile of Buyers: Properties over $300,000 In the City of Miami, residential real estate sales valued over $300,000 since 1990 have four types of potential buyers Those buying these properties are: –Persons/firms choosing condominiums over the single-family structures. –Persons/firms purchasing single-family homes but not as a primary residence –Persons/firms receiving Homestead Exemptions on single-family structures. –Persons/firms receiving Homestead Exemptions on purchased condominiums

9. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Comparison of all Miami Residential Real Estate NHE = No Homestead Ex. WHE = With Homestead Ex.

10. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Profile of Buyers Over $300,000 (Single-Family Homes) Single Family Homes (HE) over 300,000 sold since 1990 Total CasesMedian ValueMean Average 1,519445,000576,649 Total CasesMedian ValueMean Average 843440,000722,564 Single Family Homes (WHE) 300,000 sold since 1990

11. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 Profile of Buyers over $300,000 (Condominiums) Condominiums (HE) over 300,000 sold since 1990 Total CasesMedian ValueMean Average 1,085400,000479,891 Total CasesMedian ValueMean Average 2,783461,0001,052,527 Condominiums (WHE) over 300,000 sold since 1990

12. The Metropolitan Center at Florida International University metropolitan.fiu.edu 305-349-1251 THANK YOU!