want to settle down in or invest in our area. Buyers from South America and Europe continue to grow in number. We are able to cater to these international buyers because of my Hispanic background, myself and my staff all being bilingual, as well as offering a wide array of services other than just closings, such as 1031 exchanges. Can you share anything about current emerging trends in real estate that you are witnessing as we head towards 2023? I feel it is actually quite contradictory. Many aspects of the real estate market seem to be normalising post-COVID, while some have permanently changed. The workforce transformation has certainly played a key role in the everevolving real estate market here in Florida. Working from home changed the playing field, resulting in high demand for luxury single-family homes and condominiums. The commercial landscape also continues to expand, with many well-known tech companies and Fortune 500 businesses, who no longer want to work in New York or California, relocating to the Sun Belt. Miami has no city tax and because of the climate and proximity to Latin America, it is no wonder that we will continue to experience the boom in real estate here in Florida for years to come. I am happy we can continue to serve these national and international buyers with all their real estate needs and look forward to welcoming them to my city. futile and place the seller in breach. Sometimes buyers miscalculate closing costs and at the last minute are short the funds to close, and so have to scramble to liquidate funds. Preparing a closing statement early on for my clients is one of the things I feel helps them plan best, so they have a pretty close to final number as to the funds they will need to close and can prepare accordingly. How did the COVID-19 pandemic affect real estate closings in your jurisdiction? Are any of these effects still a factor in current proceedings? I live in Miami, so I can honestly say that COVID-19 doubled my real estate business and closings here in Florida. We saw the influx of out-of-state buyers all wanting to relocate to Miami due to the climate and employment changes. Property values increased dramatically and we were closing cash deals on high-end properties in record time. We returned to the bidding wars, with buyers offering over asking price and not even wanting to perform inspections or even finance their purchase. It really kept me and my staff busy. Now, with the interest rates almost double what they were just a year ago, things have returned a bit back to normal. However, because I am situated in Miami, we always have a great number of international buyers who 52 LAWYERMONTHLY JANUARY 2023 About Jacqueline A Salcines Jacqueline A Salcines is an established and well-respected real estate and business lawyer with a particular focus on residential and commercial real estate transaction matters. With over 23 years’ worth of experience serving her community in Florida and throughout the United States, she represents individuals, buyers, sellers, corporations, realtors, distressed homeowners, landlords, tenants, foreign clients and more on their legal needs. Contact Jacqueline A Salcines Founder Law Offices of Jacqueline A Salcines 706 South Dixie Highway, Second Floor, Coral Gables, Florida 33146, USA Tel: +1 305-669-5280 Fax: +1 305-669-5283 E: j.salcines@salcineslaw.com www.salcineslaw.com Many aspects of the real estate market seem to be normalising post-COVID, while some have permanently changed.
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