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The Latest Updates on the Heat Arena name, Real Estate Market, and Weekend Events

The Latest Updates on the Heat Arena name, Real Estate Market, and Weekend Events

Get the Inside Scoop on the Miami Heat Arena, Real Estate Market, and Weekend Events in this Week's Newsletter

Joe Biscaha
January 13, 2023

Happy Friday!

I've got some exciting updates for you this week! In this weeks edition:

🏀 The latest on the Miami Heat Arena's name
⌛️ A stunning 1970s time capsule condo for sale
🏠 Expert opinions on the 2023 Miami real estate market

Plus, if you're looking for something to do this weekend, there are plenty of options to choose from, including The Underline sponsored bike rides, Art Deco weekend in Miami Beach, and the grand opening of Plumb Organic Market in Aventura.

In case you missed it

Judge rules Miami-Dade County can remove FTX Arena name from downtown venue

The Downtown Miami arena that is home to the Miami Heat is in need of a new name.

https://www.local10.com/news/local/2023/01/11/judge-rules-miami-dade-county-can-remove-ftx-arena-name-from-downtown-venue/

Brightline Gets Big Boost In Traffic From Aventura & Boca, New Trains Added

Miami Real Estate, Construction And Architecture

https://www.thenextmiami.com/brightline-gets-big-boost-in-traffic-from-aventura-boca-new-trains-added/

"Show must go on": Churchill's Pub looks for new owner

Some residents have expressed concerns that the Miami institution may not be the same under new management.

https://www.axios.com/local/miami/2022/10/06/churchill-pub-for-sale-miami?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axioslocal_miami&stream=top

Photo: Spider-Like Arch Of Signature Bridge Now Rising

Miami Real Estate, Construction And Architecture

https://www.thenextmiami.com/photo-spider-like-arch-of-signature-bridge-now-rising/

First Ever Supertall Tower Proposed On Brickell Key

Miami Real Estate, Construction And Architecture

https://www.thenextmiami.com/first-ever-supertall-tower-proposed-on-brickell-key/?lh_aid=3594554&lh_cid=y7km0prd1k&di=9205110cbcb16b2051f584ea396315e3

For Sale: North Miami Condo Is a Stunning 1970s Time Capsule

"Every home needs two things," the Zillow Gone Wild post teases, "and this Miami home has both."

https://www.miaminewtimes.com/news/for-sale-retro-1970s-cricket-club-condo-miami-zillow-gone-wild-16070991?lh_aid=3594554&lh_cid=y7km0prd1k&di=9205110cbcb16b2051f584ea396315e3

Real Estate Update

Miami shows no signs of a market crash. Here's what experts say to expect instead.

1. The market will hold strong.

Home sales prices could take a hit if mortgage rates were to continue surging, but that doesn't seem to be the case, forecasts Ines Hegedus-Garcia, executive VP of Avanti Way Realty.

"This sustained decline [in mortgage rates] will help revive homebuying and we should see a more robust market for home sales in 2023," she says.

2. Demand won't go anywhere.

Fernando Arencibia Jr., CEO of Arenci Properties Realty, says demand should stay strong in 2023. "South Florida real estate is unique from other U.S. markets in that we continue to see high in-migration domestically and internationally," he says.

If mortgage rates do increase later this year, the number of inbound movers and cash buyers should be enough to shield South Florida from crashing home prices.

3. Buyers will feel relief.

Even if home prices continue to appreciate, Arencibia Jr. predicts conditions will be calmer for buyers.