Jack Levine steers merged realty association, largest in US with 23,000 members, cites appeal to international buyers
In a quick but smooth merger, Miami-Dade's two largest real estate associations became one. With more than 23,000 members onboard, the newly-formed alliance took the No. 1 spot as the country's largest realty association.
Jack H. Levine is steering the ship as the merged association's chairman, a post he is to fill until December 2011.
In this role, Mr. Levine said his main priorities are to lead the association in this new chapter and provide members with all the tools, education and resources they need to succeed in a still-challenging housing market.
Because the association grew with the merger, most of the personnel from both groups are to remain in place, and now there are five locations in Miami-Dade and Broward.
Based on market activity and realtor feedback, Mr. Levine said the local residential market has hit bottom, but challenges remain with the number of foreclosures and short sales taking place.
More transactions are taking place today and, in many cases, multiple offers are coming in for those properties.
The strengthening of the market, he said, is likely to come on a neighborhood-by-neighborhood basis, because some areas have been affected more than others.
Despite these hurdles, he said South Florida's appeal and location is still a big advantage for the housing market, particularly with international homebuyers.
"Over 50% of buyers in many locations are foreign buyers, and many of them are paying cash, because financing is still a big challenge," he said.
Mr. Levine discussed the recent merger and plans ahead with Miami Today reporter Yudislaidy Fernandez at the association's headquarters in Miami Springs.
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