In this episode of the Miami Real Estate Podcast, we sit down with David Podein, an equity partner at Haber Law, to explore the current landscape of Miami's condo market. David breaks down the market into three key segments: the high-end market, which is thriving with record-breaking prices; the middle market, facing challenges due to new reserve requirements and recertification costs; and the lower end, struggling with aging buildings and expensive repairs.
David shares valuable advice for condo buyers, emphasizing the importance of conducting thorough due diligence on a building’s financial health, reserves, and upcoming projects—essentially treating the purchase like an investment in a company. He also discusses recent Florida legislation, including Senate Bill 4D and HB 1021, which have increased transparency and empowered condo owners.
Finally, David delves into the growing trend of condo terminations, where entire buildings are sold to developers, and provides insight into strategies like "conditional terminations" that give associations more control. Whether you're a buyer, investor, or simply curious about Miami's real estate market, this episode offers key insights you won't want to miss.
Guest: David Podein
Host: Omar De Windt
Producer: Veronica Paris
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