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City and real estate guide: Miami, Florida

Miami ranks number 10 as one of the " worst real estates markets in the country" [reported by Forbes.com With a 22% price drop the time to buy is now. There are plenty of foreclosures in Miami.

At the top of the list is Coral Gables, this up scaled family oriented area, has excellent schools, beautiful architecture, and a lots of culture. The area is home to Fortune 500 companies such as Kraft Foods, Apple Computers, IBM, and HSBC just to name a few. Coral Gables has a great deal of history, its own theater, plenty of entertainment on Miracle Mile and great shopping - - it is home to the luxurious Village of Merrick Park.

Coconut Grove, the "walking" Village, is a small community and home to many "eccentric" residents. Homes here range from sea-side cottages to posh penthouses overlooking the bay. The Grove houses plenty of trendy restaurants, bars, its own Ritz Carlton and many other "eclectic" shops. It caters to the old, young and in-between crowd. Coconut Grove has its own Public Library, and Sea side Marina and it was once home to Madonna, "J-Lo" and Sylvester Stallone. Nearby entertainment includes, The Palace of Vizcaya, Seaquarium and Key Biscayne.

Next is Kendall, this family-oriented area is home to a large population of Cubans and famous residents Janet Reno and O.J. Simpson. Houses in the area are big, affordable and very west of all major highways (Hwy 836, US1, and the Turnpike making the "traffic" commute simply horrendous. You will have to travel almost 45 minutes in any direction to access one of three major highways. The further west, the bigger the houses, and the lower your mortgage payments.

The area has quite a few malls within short distance, plenty of movie theaters and lots of restaurants. There is a Costco, a B.J's Wholesale, a Super Wal-Mart's, a Loews and even an airport (Tamiami Airport) all centrally located. If you can deal with the "crowded factor" there are many excellent schools, a Community College, and plenty of Hospitals in the area. Kendall is a good area for family living.

Fourth is Brickell known as "hi-rise" heaven. Surrounded on the east by the Miami Bay and on the west side by state-of-the-art architecture - - there is truly no better place. There are plenty of new affordable properties, which have fallen victims of the "house-flipping" trend and foreclosed properties are on the rise.

The area is fast-paced during the week, and sleepy but still happening on the weekends (because of its proximity to downtown - - only 5 minutes) It is often compared to Wall Street, because mostly financial institutions and hi-end Legal Eagles call Brickell home. Centrally located is Mary Brickell Village, which houses fancy restaurants like The Blue Martini Bar, Oceania, The Red Door Bar, Segafredo's, Novecentos and PF Chang's .The place buzzes with excitement but it is never over-crowded. This is the perfect area for young professionals looking to relocate. For more information go to Trulia.com

Last - -is South Beach, with plenty of affordable foreclosed properties too. Ocean view properties once listed at $275K were reported last week being sold for under $100K! However, you must really want to be "in-the-mix" if you are ready to buy here. South Beach can be quite overwhelming. Unless you are thinking of settling down on the outskirts, living here is quite hectic. Constant crowds, tourists, traffic and noise make it quite fun but never-the-less sometimes over-the-top. SoBe is home to hundreds of bars and endless trendy restaurants that cater to the rich, the famous and the beautiful. No doubt, it can be quite interesting and accelerating, but it can also get quite expensive. South Beach is home to the beautiful Nikki Beach, Prime 112, Smith and Wollensky and China Grill on any given day you can spot a celebrity or two in the area. South Beach is also home to a large "gay" community and sees thousands of sun-seeking vacationers year-round.

Bottom line, Miami has something for everyone. If you are looking for property here, you can't go wrong. You just need to decide what you like.

Learn more about this author, Sandra Quevedo.
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