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TOP 10 Reasons to live in Downtown Miami!
10. Dine at more than a hundred restaurants in less than a square mile
9. Catch a concert at the James L Knight Center
8. Catch a local play at the Gusman Theater or the Manuel Artime Theater
7. Shop for that special ring at hundreds of stores… in just one building!
6. You can walk home after a happy hour… or take a short cab ride
5. You can get on the metromover and catch a broadway show at the Arsht Center
4. With "Operation Downtown Miami Night Life" it is safer than ever to enjoy all of Downtown Miami at night
3. Enjoy free Yoga at Bayfront Park!
2. Order delivery from dozens of restaurants around Downtown Miami
1. It is, after all, The Magic City! |
Valeria’s Downtown Corner:
Should I stay renting or buy now? First of all the prices of the properties are down and there is a high level of inventory, so in many cases you might be able to buy a property today for the price that it was four to five years ago. There is also a large inventory so this is a good opportunity to find great deals. On the other hand interest rates are still at record-lows, but in most cases the banks are asking to put anywhere between 20% to 40% down depending on your credit history, the building, the appraisals, and other variables that the bank will review before approving the Loan. So if you already have the money for the down payment then your monthly payments could be close to what you are paying right now on your rental or even lower.
You can still take advantage of the first-time homebuyer Federal tax credit and remember you must sign your contract no later of April 30, 2010 and close no later than June 30, 2010.
A helpful hint to take into consideration when buying is the time in the market and the second is your time. There are regat opportunities in the market and you want to take the time to make the most out of them.
Valeria Grunbaum, CIPS, TRC, CLMS
Have a Real estate question? Please send it to
DowntownMiami.com and Valeria can answer it |
