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Luncheon
at Parrot Jungle Island
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Where: Parrot Jungle Island 1111
Parrot Jungle Trail, Miami, Beach, FL
33132. Map
When: Friday, August 26, 2005
Reservations: Please contact
Odalys
Saenz, LBA Events Coordinator Tel.
305-446-5989 Fax: 305-446-0901 or OdalysSaenz@latinbuilders.org
Title Sponsor: Commerce Bank
Presenting Sponsor: Home Equity
Mortgage Corp.
To
forward the event invitation to a friend,
Become a member today. Apply
online. |
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PRESIDENT'S ADDRESS |
August
2005 - No. 6 |
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Hello,
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Is
There A Bubble - And Will It Burst?
What's Happening Now - And What
Will Happen in 2-3 Years
Let me start out with my answer, then
I will explain how I got there.
I do not consider the current market
upswing to be a fragile bubble.
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Here
is what I perceive to be happening in the
market currently. A large number of speculators
("investors") are sweeping up
condo units at pre-construction prices.
They then "flip" them back into
the market as soon as they are ready for
occupancy - sometimes even earlier than
that. This means that the developer, when
the condo is finished, finds himself selling
his units against the competition of lower
priced units owned by speculators.
The effects of this situation are being
felt around town right now.
But, with most new condo units still in
the construction phase, serious trouble
may be averted for now. The downside is
that in two to three years, when those high
rises are finished, and speculators begin
their "flipping" frenzy there
could be negative effects.
What can be done about it? Some developers
are being proactive. They are placing limits
on how many condo units a single buyer may
purchase. Some are including special clauses
in their sales contracts that compel the
buyer to take possession of the unit and
live in it for a period of time before selling
it.
Yes, everything in life is cyclical and
there will always be ups and downs in the
real estate market. How we prepare for the
downs will determine just how deeply future
adjustments affect us.
No, this is not the time to worry about
a bubble bursting. It is the time to look
for solutions to problems such as "flipping".
Let cool heads prevail.
As always, all the best,
Gus Gil
President
Latin Builders Association
P. (305) 446-5989
F. (305) 446-0901
ggil@latinbuilders.org
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WHAT WE SHOULD KNOW |
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MONTHLY MEETING |
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Luncheon
at the JW Marriott
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Guest Speaker: Armando Codina, Chairman &
Chief Executive Officer
Codina Group, Inc
Where: JW Marriot Hotel Miami 1109 Brickell
Ave Miami, FL 33131 (305) 329 - 3500
When: Friday, September 30, 2005
Reservations: Please contact Odalys
Saenz, LBA Events Coordinator Tel. 305-446-5989
Fax: 305-446-0901 or OdalysSaenz@latinbuilders.org
Exclusive Sponsor: AFLAC and Hispanic Magazine
To
forward the event invitation to a friend,
Become
a member today. Apply
online.
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STAYING AHEAD |
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Seminar:
New FL Building Code- Core Administrative Course
Description: Every State certified contractor
must take this course at least once. Each new
GC must take this in the first two years of licensure.
If you haven't taken this workshop, we've made
it easily available.
When: Tuesday, September 13, 2005.
Time: 8:00 am to 1:00 pm
Duration: 4 hrs.
Investment: $ 60 members and $ 80 non-members
For reservations email Valentin Saportas at
val.saportas@theceacademy.com.
or call (305) 804-9897.
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IN THE LIMELIGHT |
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DIRECTOR'S SPOTLIGHT |
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Hiram
Ocariz
Hiram Ocariz, a founding partner of Ocariz
Gitlin & Zomerfeld, LLP, has over 25 years
experience in the accounting, auditing and
tax preparation fields. Ocariz currently serves
as a Vice President in the LBA Executive Board,
as well as its Treasurer. Under his leadership,
the financial infrastructure of the organization
has been solidified. Complete
bio...
See who's who in the LBA,
click
here. |
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ABOUT THE LBA |
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Latin
Builders Association, Inc is energetic, non-profit
organization that encompasses a vast array of individuals
and companies related to South Florida's vibrant construction
industry. Since its establishment in 1971, Latin Builders
Association has embodied the interests of builders, developers,
contractors, architects, engineers, plumbers, electricians
and tradesmen associated with the business of construction,
striving to provide a vital forum for discussion, networking,
training/development, and representation at the local
and state level. |
Latin Builders Association, Inc
Angel
Garay
Director of Operations
Tel. 305.446.5989
782 N.W. Le Jeune Rd.
Suite 450
Miami, Florida 33126
Past Issues Archive
Privacy Policy
Foremost we respect your privacy. Our eNewsletter is for the
benefit of LBA members. Information about the members is used
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LBA
will never rent, sell or share your information with
anybody. |
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your email? To update your contact info, email us with your
changes at agaray@latinbuilders.org
Latin Builders Association, Inc. All Rights Reserved.
2005 |
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