Our Boy KT Gets Some Big Press From NYTimes! (South Beach)
By Anthony Longo 28 10 2007
Out South Beach connection Kevin Tomlinson shows off some primetime ’spaces’ in South Beach.
Kevin Tomlinson and Dora Puig, worked with a buyer for a penthouse in Miami Beach that sold for $7 million last month. (picture above)
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“The very, very high end of the markets in communities such as the Bay Area, Los Angeles, Manhattan and Miami and to a lesser degree Chicago, Seattle and Washington that have global appeal have held up much better than the rest of the housing market,” said Mark Zandi, chief economist at Moody’s Economy.com. “A recession would certainly not help the high end, but it would not undermine it. And much of their buying is done with cash and not affected by the global financial turmoil and its impact on the availability of mortgages.”
Take the greater Miami area. Over all, home prices have fallen 7.3 percent from their peak in December 2006, according to the Standard & Poor’s/Case-Shiller index that tracks repeat sales of specific homes. But because of a shift upward in the value of the homes that have traded hands, the median price for condos sold so far this year for over $1 million is holding steady at $1.5 million, according to the Realtor Association of Greater Miami and the Beaches….Continued…
Source: NYTimes
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