The subprime mortgage crisis that took place in the U.S. was a multinational financial crisis that happened between 2007 and 2010, it was a major reason for the global financial crisis. It was sparked by a large decline in the prices of homes after the collapse of the housing bubble, leading to foreclosures, mortgage delinquencies, and the devaluation of securities related to the housing market. A select few saw this coming, as many people sustained financial ruin during one of the worst times in U.S. history.
Alejandro Diaz Bazan is a realtor in South Florida, he was one of the few people that anticipated this crash. His research of lending guidelines led him to believe such a crash was inevitable, so he decided to move to Miami in 2007 to focus on asset disposition for banks. He opened his Miami Foreclosure Group immediately after graduating with a bachelor’s degree from Babson College. Once Alejandro understood the intricacies associated with the foreclosure process, he started investing in real estate- he has flipped over 100 properties to date. The handful of people that were able to identify the imminent subprime mortgage crisis were able to attain large gains in real estate, Alejandro was one of the few people that did. His in-depth research into this opportunity catapulted him to becoming one of the most knowledgeable and highest producing realtors in the South Florida area.
Currently, Alejandro mainly targets residential high-end real estate in Miami Beach. He was worked with some of the most famous architects in home development, Ralph Choeff from CLF Architects is one such person. Choeff is known for designing homes for celebrities like Jennifer Lopez and Alex Rodriguez, as his work on tropical modern architecture, coupled with the execution of organic materials and finishes provided by Alejandro’s realty firm has proven to be a very desirable product. Most of Alejandro’s clientele is made up of high-powered hedge fund CEO’s and individuals who are considered to be titans of their respective industries.
Alejandro plans to continue to solely focus on the South Florida area, as he has recently sold a home for an astounding $24.5 located at 3080 N Bay Rd. The home was developed by Alejandro, as well as Andres Isaias from the Andian Group. Alejandro is an integral realtor in the Jills Zeder Group, a company that has sold over $1 billion in real estate the prior year. Although we aren’t even halfway through 2021, Alejandro has properties under contract and sales that have already exceeded an astronomical $150 million. Alejandro’s main referral source is work of mouth, he is actively looking for properties to develop with the Jills Zeder Team, as they are considered to be the number one realty group in Florida, and number two in the nation.
When asked about the future of the housing market in South Florida, Alejandro says that everything comes down to something as simple as supply and demand. He believes the market and pricing is here to stay.
“As more and more sales get published and the buyers get revealed, there is more clarity into the holding power of the buyers, as well as the amount of human capital the city of Miami Beach has recently received”.
For those looking to mirror Alejandro’s success, he underscores the importance of understanding what you are selling. He says that he truly started understanding what he was selling after he started developing homes and paying attention to every detail of the process. With more and more people coming to Miami from all parts of the U.S., as well as globally, Miami is sure to continue to be a hotbed for real estate for the foreseeable future.
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