Tag: Miami Beach Real Estate

Miami Beach Luxury Homes Going Green

by on Nov.05, 2009, under Buyers of South Florida, Seller's of South Florida, Uncategorized, Waterfront Homes

Miami Beach Green Real Estate

California and the west coast are not the only green conscious areas. Miami Beach and surrounding area homeowners are just as energy conscious. They recycle, conserve water and energy.  Here are some energy tips that can help you make your home more green:

  • Save up to a third of your energy bill by purchasing EnergyStar Appliances.
  • Insulate the attic and walls to prevent heat from coming in, thus making a huge difference on your power bill.
  • Install programmable thermostats which automatically adjust your home’s temperature whether you are home or away. Keep your thermostat at 78 degrees.  Clean and maintain your air filters every 90 days. It can increase air conditioner efficiency by 5 to 15 percent.  Here in South Florida you don’t need to worry to worry about your heating bills like the people in the Northeast or Midwest.
  • Install ceiling fans and cut down on your air conditioning use. In the Florida winter months, you can get by with using your ceiling fans and keeping your windows open so you can enjoy the fresh air.
  • Use green cleaning products. Look for cleaners in large containers or bulk packages, and buy concentrates, which use less water. Look for products packaged in post-consumer recycled plastic or cardboard.
  • Heat your pool with a solar cover or blanket. Use natural alternatives to pool cleaning chemicals as well.
  • Use light paint colors outside. They will keep your home cooler inside. Look for low or no VOC paint. VOCs create ground-level ozone pollution and carry potential health risks
  • Recycle your grass by leaving clippings on the lawn when mowing. The clipping recycle and you save water use and fertilizer and waste disposal removal costs as well.
  • Use caulking and weather stripping to prevent your air conditioning from escaping and moisture from coming in your home. Moisture is a big problem here in South Florida causing mold and other problems.
  • You can also save costs on your energy bill by doing your laundry and running your dishwasher on off peak hours between midnight and 6:00 a.m. Wash your clothes with cold water. Clean the lint filter in the dryer after each use.
  • Cut down on your water consumption with low flow toilets and showerheads and recirculation systems in your hot water heaters.  Turn the water off when you are brushing your teeth.  You will save at least two gallons of water.
  • Repair any plumbing leaks immediately.
  • Install a drinking water filter under your kitchen sink. This way you don’t have to buy bottled water, and you can save the environment by cutting down the use of plastics.
  • You would be surprised on how much of a savings installing insulated and impact resistant windows can make.  Insulated windows help with noise as well.
  • Install compact fluorescent light bulbs. They produce less heat and are more efficient.
  • Plant leafy trees on the south and west side of your home to add shade.
  • Use an electric lawn mower instead of gas.

Visitors and area residents appreciate the beautiful eco friendly environment that Miami Beach real estate, Sunny Isles Beach real estate, South Beach real estate and Bal Harbour real estate each have to offer. With miles and miles of expansive beachfront property consisting of luxury condos and homes, Miami Beach and the surrounding area residents are conscious of preserving its extraordinary habitats and surroundings while enjoying the South Florida lifestyle.

Let’s go “green” Miami!

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Celebs Cash In On Miami Beach Real Estate

by on Oct.30, 2009, under Community Information, Miami Beach Celebs

It used to be that Beverly Hills was the place to go to for the best in celebrity spotting. But today, there are probably as many people selling “Maps to the Stars Homes” in Miami Beach than there are on America’s other coast. The reason? Miami Beach real estate is hot, hot, hot, with the entire Miami area ranking as a top destination for celebs to vacation, winter and even live year round.

So who might you bump into while waiting in line at the local Whole Foods? Well, as you might expect, Miami Sound Machine founder Gloria Estefan and husband Emilio are longtime denizens of the region, making their home on the appropriately named Star Island. Miami Heat basketball legend Shaquille O’Neal is their neighbor, as is comedienne and former talk show queen Rosie O’Donnell. Sean Combs, also known as Puff Daddy, P. Diddy, Diddy and more, also lives here, while hot couple Jay-Z and Beyonce own a property nearby.

Miami Beach is home to singer Ricky Martin, while Lenny Kravitz lived on Sunset Island. Exclusive Fisher Island is home to tennis king Boris Becker and Queen of All Media Oprah Winfrey — who lives there part time in one of the island’s many luxury condos and homes.

If movie stars are more your thing, keep your eyes peeled for Matt Damon and Will Smith, both of whom have purchased properties in the area. Jennifer Lopez and husband Marc Antony live in sizzling South Beach, while father and son musical duo Julio and Enrique Iglesias both call the Miami Beach region home. As does Enrique’s gorgeous girlfriend, Russian tennis star turned model Anna Kournikova. And the list keeps growing, with more celebs snapping up more waterfront and oceanfront condos and homes in this A-list destination.

So the next time you’re out running errands in the neighborhood, keep your eyes open. When you live in Miami, you never know who you’ll spot.

by Lisa Canfield

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Mocha Shakes Miami

by on Oct.30, 2009, under Community Information, Uncategorized

Mocha Shakes Miami

The mystery begins this year on November 7, 2009, at 6:00 p.m. with the Mocha Shakers Mystery event. This Mystery Dates charity fundraiser is organized by the MOCA Shakers, the museum’s young international patrons. The proceeds will benefit MOCA exhibitions of new and experimental artists.

Expect an evening of art, fabulous food and mystery guests. Festivities start with a party at Museo Vault, a state of the art storage facility located in Wynwood at 349 NW 29 Street, Miami, FL 33127. You can enjoy specialty Grey Goose Vodka cocktails, great music and terrific appetizers.

From there the party moves on to a post modern home in Coral Gables, a MiMO Morningside home,  and then to a beautiful South Beach condominium.  The mystery is what glamour surprise dinner guest will attend each dinner. Guests will learn which dinner they will attend as well, as the festivities move on from there.

Tickets for the event range from $125.00 – $1,000.00. For seating information contact address is http://www.mocanomi.org/mystery-dates/#, and the phone number is 305 893-6211. Chair Persons, Ivonne Ronderos and Erin Newberg.

Experience the Excitement and Beauty of Miami Beach and Surrounding Areas

This is just one of many exciting charity events, festivals and music events held in the Miami Beach and surrounding areas throughout the year. There is also the Miami Beach Dance Festival held in April each year, the Jazz Roots Larry Rosen concert series, and don’t forget the Festival of Miami music festival, which is the opening of Miami’s Art Season.  The festival closes this year on October 30, 2009 at 8:00 p.m at the  Gusman Concert Hall at the University. of Miami Frost School of Music with the “Open Me First” with Jeff Hamilton and John Clayton concert series.

That’s why so many buyers choose to live, work and play here.  International buyers and celebrities recognize that  Miami Beach real estate, South Beach real estate, Bal Harbour real estate, Sunny Isles Beach real estate and Golden Beach real estate is some of the most gorgeous and affordable real estate found anywhere in the world. With luxury condos and homes at today’s affordable prices, there are no better bargains than here.

If you are looking for an international flair with great cuisine, shopping and beaches and a luxurious and exciting Florida lifestyle, you won’t be disappointed by the many area attractions, outstanding architecture and beautiful eco surroundings of the Miami Beach, South Beach, Bal Harbour, Sunny Isles Beach and Golden Beach areas.

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Miami Beach Art Basel Festival

by on Oct.26, 2009, under Community Information, Uncategorized

Miami Beach Art Basel 2009

The popular four day Miami Beach contemporary Art Basel show will be held this year on December 3-9 at the Miami convention center. The festivities have grown into a week-long celebration and an international meeting place. You will find festival exhibitions, music, and film events sprawling from South Beach to the Miami Design Center. What better place to hold an international art festival than Miami Beach with its perfect climate, gorgeous beaches, art deco architecture, some of the best cuisine in the world, chic boutiques and so much more!

Since it debuted in 2002, Art Basel, the sister event of Switzerland’s Art Basel, has attracted art lovers and art curators and dealers from all over the world. It is the largest art festival in the country. This year, expect to find more than 250 international art galleries participating in the festival from North America, Latin America, Europe, Asia and Africa. The show ranks as the third largest show at the convention center, along with the car expo and the boat show. The 2009 event will feature 20th and 21st century artworks from more than 2,000 artists. Mark your calendars so you don’t miss this spectacular event!

Life Styles of the Rich and Famous at Affordable Prices

Miami Beach’s melting pot of nationalities attracts visitors not only to its many cultural and tourist attractions, but also to its resort style living featuring luxury waterfront/oceanfront condos and homes. With miles of gorgeous beaches, world class golf courses, international fine dining, fishing and diving, there is something for everyone. It is a favorite vacation, second home and retirement destination to millions of people worldwide. Miami Beach real estate and the surrounding South Beach real estate offer some of the most desirable real estate in the world. So if you are looking for a lifestyle of the rich and famous at today’s affordable prices, look no further. With its close proximity to Latin America, the Caribbean, Europe and Canada, you can see why Miami Beach attracts so many buyers to its luxury condos and homes.

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Up All Night in Miami Beach

by on Oct.21, 2009, under Community Information, Uncategorized

Another reason why Miami Beach Real Estate is so sought after…

It’s more than just the opportunity to live next to endless white sand beaches, to warm, turquoise blue water and to beautiful scenery as far as the eye can see.

(And yes, by beautiful scenery I do mean unbelievably great-looking people wearing the smallest amount of clothing imaginable.)

It ‘s more than just for the most amazing nightlife, restaurants, club scene and people watching in the whole U S of A.

It‘s more than that. It’s for the CULTURE.

I’m serious. You can stop laughing now.

For those of you who think Miami Beach is all about seeing and being seen, that it’s a city just for the shallow and beautiful, I have reason to beg to differ.

That reason is Sleepless Night.

This November 7, the City of Miami Beach will celebrate what is being referred to as “the ultimate cultural all-nighter” – a free extravaganza of the arts lasting from six at night until seven the next morning. There’ll be a total of more than 130 events and 80 different destinations in indoor and outdoor locations across the city.

You can expect to see all kinds of art designed especially to be seen at night – which is bound to be incredibly cool – including animation, digital drawings, interactive films and more amazing and bizarre stuff you can’t hang on your living room wall. There’ll be more traditional art at indoor locations – maybe even some stuff you CAN hang on your living room wall. Plus music, poetry, comedy, acrobatics and a range of live performances you’ll basically have to see to believe.

Sleepless Night is sure to be the kind of wild, all-night party only Miami Beach can throw, but it’s not about drinking, or dancing, or decadence of any kind. Instead, it’s a celebration all about culture with a capital “C.”

Just one more reason Miami Beach Real Estate remains too hot to cool down!

by Lisa Canfield

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Canyon Ranch Miami Beach North Tower Release & Review

by on Mar.24, 2009, under Buyers of South Florida, Condos and Development, Luxury Residential Market, Miami Beach Condos, Seller's of South Florida, Uncategorized

Canyon Ranch Miami Beach has opened its doors to the long awaited North tower (6899 Collins Avenue) within this distinguished development. I’ve added some of today’s photographs for you to see the beauty in it…

Canyon Ranch SW Views

Here’s the amazing SW View from the 22nd floor. Notice the historic Carillon hotel sign maintained with the Canyon Ranch project. Just below the Downtown skyline is La Gorce Island then the new NoBe on the Bay condos (which seems to have come to a standstill), Aquasol and the King Cole far off to the right.

Canyon Ranch North Tower pool

The Canyon Ranch North tower pool was inviting with a large jacuzzi and beach access & services. There’s far less setback from the other tower and hotel. All amenities are included throughout this health conscience complex

Canyon Ranch north tower hallways

The hallways were bright, elegant and spacious..

Canyon Ranch North Tower Kitchen

A slick uber modern Canyon Ranch kitchen with Miele & Sub Zero appliances

Canyon Ranch North Tower Lobby

The lobby was classy and well done with beach accents including shell chandeliers along with modern bamboo style columns and a waterfall

Canyon Ranch Front Entryway

The front entryway had valet with a great big smile and an immediate attention at the front from concierge. An Excellence in service..

Canyon Ranch Living Miami Beach (North)

Welcome home to Canyon Ranch Living Miami Beach. This great new development plus the addition of MEi Condos add a new dimension to this Miami Beach real estate market. To preview all Canyon Ranch condos for sale click here or Rent for details on updates & availability call me at 1.888.383.7326.

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Lifestyles of The Rich & Famous (Part 3) Fontainebleau Resort Miami Beach

by on Mar.01, 2009, under Buyers of South Florida, Condo Hotels, Condos and Development, Luxury Residential Market, Miami Beach Condos, South Beach Condos

FONTAINEBLEAU II Fontainebleau II located at 4441 Collins Avenue, has a trophy Penthouse worth making it to the top of the luxury list of all time best properties on Miami Beach. Showcasing unobstructed Northern views of Miami Beach, this 4,500 interior square feet (4 bedrooms and 5 baths) luxury Miami penthouse is for sale today at $13.5M and was just recently reduced in February09 from $16M (16% reduction) coming with 5 parking spaces for your collection or guests. Maintenance fees are approximately $1 per square foot and covers everything including valet, high speed internet services, cable, phone, electric plus the owner’s lounge with daily breakfast and afternoon hors d’oeurves!

The Northern penthouse property was purchased new in 2005 for $3.6M and was completely renovated throughout for a turn key residence dominating the entire northern half of Fontainebleau II (Tresor) with high ceilings, an open floor plan plus windows and light throughout… Fit for a successful superstar looking for an amazing Miami Beach Penthouse residence.

Truly a celebrities trophy penthouse with an amazing skyline span over the blue skys of Miami Beach real estate. The terraces add an additional 2,500 square feet of outdoor living and entertainment area with complete Penthouse privacy. The Fontainebleau hotel & Spa services are are around the clock and essential with easy & private access to the 40,000 square foot spa, excellent restaurants, a nightclub, fitness center, tennis courts, multiple pools, waterfalls, children’s play room, owners lounge area all wrapped into the 22 acres of famous resort amenities including the enjoyment of the recent billion dollar renovation. Rent it with ease while away…

Fontainebleau II aka Tresor Building, was built in 2005 and consists of 37 stories and made up of 460 condo hotel units. Today, there are 57 units for sale or 12%as resales with 8 closed MLS sales in the last 6 months ranging from $315,000 to $700,000 for the average studio suites (520 SqFt) and 1 bedrooms (1,000 SqFt). Last year there were 14 sales with 12 in 2007 selling on an average price per square foot of $714 at 91% of list price.

Fontainebleau II Penthouse Views

Fontainebleau II Penthouse Views

Fontainebleau II Penthouse N TerraceFontainebleau II Penthouse Master BathroomFontainebleau II Penthouse Living RoomFontainebleau II Penthouse Living Room

Fontainebleau II Penthouse Living RoomFontainebleau II Penthouse N Terrace

Buyer’s, ready for a luxury Miami Beach Penthouse? This isn’t my exclusive listing but I’d love to represent you on the purchase. Call or email for the very best properties along Sunny Isles Beach, Bal Harbour & South Beach. If you’d like to receive local Miami Beach FL real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper right column) or by email above each time a new posting occurs. Visit JADECondosSunnyIsles.com website & Blog relaying all new information for JADE Beach & JADE Ocean! Have a great week and call any time toll free 1.888.383.7326 or view new condos here. South Beach to Sunny Isles Real Estate Sales & Marketing at MiamiDreamRealty.com.

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Miami Beach Real Estate… Is Now a Good Time to Buy?

by on Jan.16, 2009, under Buyers of South Florida, F.A.Q.

JULY 2007

JULY 2008

AUGUST 2007

Let us know what you think?!?! South Beach to Sunny Isles Real Estate Consultant, Micro Economist. If you’re thinking of placing your luxury condo residence on the market, contact me for a marketing overview and pricing band analysis to determine the proper selling price and get started with marketing. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper left column) or by email above every time a new posting occurs. The new JADE Condos Sunny Isles.com is now available! Have a great week and call any time toll free 1.888.383.7326 or view new Miami Beach condos here.

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Selling Fast in a Slow Miami Beach Real Estate Market

by on Oct.28, 2008, under Seller's of South Florida

Sunny Isles Beach Lifeguard

Sunny Isles Beach Lifeguard

I just closed on an Ocean Drive condo listing within (a new record) 2 weeks from start to finish. The buyer got a great deal and the seller had over $100k in equity so everyone was thrilled. I was also intrigued with the speed of sale and decided to write a short post on what it takes and so today’s conversation is centered on selling fast in the current Miami Beach real estate market. Is this possible you ask? Of course it is and here’s how…

1. Position the Miami Beach Condo in the Right Price Range.

When buyer’s search they have a specific price range in mind. If your Miami Beach Condo is priced at $1.1M you may have more traffic in the $999K price point or instead of $325K price it under the $300K mark where your buyer’ online search criteria begins.

2. Have the Adequate Knowledge and Information Available.

Whether it be knowledge of the area, building or Miami Beach condo it is crucial to have the answers to buyer’s many questions. A lack of information is a waste of valuable time when selling fast.

3. Put out Great Information.

From videos to fliers and professional photography, a buyer looks at the many marketing methods to many times fall in love site unseen or prior to previewing your Miami Beach home or condo. With the surpluss of International and out of state buyer’s it is imperative to have the best in video and photography to paint the properties features and location lifestyle expected along the Miami Beaches.

4. Market to Your Neighbors

Neighbors many times have friends and family looking in the same area or buildings along Miami Beach. The method of letting these valuable resources know that you are now selling is extremely powerful for finding a fast buyer.

5. First Offers Sometime Rule.

Don’t believe that holding out for a better offer is the right choice. The first offer has enthusiasm, energy and ense of urgency that the second offer may not have related to acquiring your Miami Beach home or condo. They typically know what they want and have had their eyes on the location or Miami Beach building for some time. Your monthly holding costs associated for waiting out a higher or better offer may ot make financial sense as each month costs you thousands. Negotiate well but make the first deal work and move on to the next goal in mind. Watch below as Ian Watt relays this well…

When timing is important and you’re ready to sell your Miami Beach Condo or Home fast, call or write me to discuss marketing and interview. If you’d like to receive the latest local real estate news via blog postings & updates, you can easily be notified by RSS feed (see upper left column) or by email above every time a new posting occurs. Have a great week and call any time toll free 1.888.383.7326 or view new condos here.

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Large Miami Beach Land Parcel Under Contract w/Asking Price $13,900,000

by on Aug.14, 2008, under Buyers of South Florida, Luxury Residential Market, Seller's of South Florida, Waterfront Homes

Pinetree Drive Aerial
Pinetree Drive Aerial

Wow friends, almost 2 weeks since I’ve had a new posting. I’ve been selling even during these summer months and expect an ultra busy “season” as buyer’s step into Miami Beach real estate more aggressively. Today’s post is on a new land sale on Pinetree Drive that just went under contract after only 150 days on the market with a results driven asking price of  $13,900,000. That’s right and one of the largest parcels on Miami Beach. Surely to be an envy with approximately 3 acres and 300 feet on the beautiful Indian Creek waterways. The sale price is to be determined yet it sold in late 2004 for $9M and early 2004 at only $5.350M. The buyer is unknown and this will soon be a masterpiece!

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Number of Homes For Sale vs. Sold vs. Pended
Price Range: $300,000 – $1,499,999
SQFT Range: 0 – No Limit
All Res. Proptypes – Waterfront Only

Trendgraphics Report Waterfront 33160

3 years Florida (Miami Beach real estate) has been in the bust. Times are changing as we see 33160 waterfront inventory lowering over the last year! The summer months should be very good for sales. There is an increasing demand and the best deals are getting multiple cash offers. ie) 4 offers on Trump Palace 4806 / 2 offers on Trump Beach Resort 1102. Short Sales and Bank Owned are in great demand but not as common along the beaches as investors would have thought. Oh btw, if you haven’t subscribed to this blog yet, do it now! If you’d like new blog updates once available, you can be notified by email or by RSS feed (see upper left column) every time a new posting occurs. 1.888.38.DREAM

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Miami Beach Boardwalk & Walkway Covering Entire Coastline

by on May.24, 2008, under Community Information

Miami Beach Boardwalk

Miami Beach will soon have it’s walkway extended North covering the entire coastline!

That’s right, from South Point Park all the way to the open space park in North Beach. With the major draw to Miami being the sand & Atlantic ocean, just a few feet away are the stretches of pedestrian friendly walkways that include the winding ocean walk in South Beach, the mid island boardwalk, and now the North Beach area finishing off it’s six million dollar makeover with the new beach walk.

By the end of this year

you will have the walkway along the entire coastline of Miami Beach. People can start in South Pointe and walk, run, jog, bike & roller blade all the way down to North Beaches open space park. Approximately 77+ blocks of entertaining sunshine & exercise readily available.

We are trying to get all the beach like this so people can start in South Pointe and walk all the way to the end to the open space park in North Beach,” said Miami Beach Mayor Matti Herrera Bower.

This has been 10 years in the making with local developers like Eric Sheppard, donating funds ($300,000) to make the finished walkway a reality. Sheppard is just finishing up his multi million dollar Canyon Ranch development. Once completed, this will boast the largest fitness spa facility on the East Coast. This new walkway extension will be bringing a healthy lifestyle to the average Joe.

This is the whole lifeblood of the entire Miami Beach. I call it the Miami Beach connection… this enables us to connect all of Miami Beach through this boardwalk. We’ve invested the money. We hope people invest their time and their brain knowledge to really capitalize and embrace and utilize the health and fitness and utilize this beautiful boardwalk because it’s going to change their life,” said Sheppard.

One of the main reasons I was drawn to Miami Beach real estate back in January of 2001 was the fitness minded people & healthy lifestyle so abundant here. I’ve always been adamant on being surrounded by fitness minded people and with tropical weather year round, we do have the ultimate in living the healthy lifestyle so greatly missed by the majority of Americans. On a regular basis, you’ll find me rollerblading or skateboarding down South Beach’s oceanfront walkway. Now we will soon have the ability to enjoy the entire coastline with bikers, walkers, runners and the in between moving up & down the Miami Beach coastline!

From the bikini beach babes to the Grandpas in black knee high socks, we not only have Americas Cleanest City (by Forbes) but also the ideal environment for fitness and health all available for you to enjoy. I continually add to this Miami Beach real estate blog so if you’d like new updates once available, you can be notified by email(automatic updates) or by RSS feed (see upper left column) each time a new posting occurs. Have a wonderful Memorial Day Weekend -1.888.38.DREAM

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Miami Beach Investments Producing Cash Flow? Don't Yell at Me!

by on Apr.20, 2008, under Buyers of South Florida, F.A.Q.

Don\'t Yell at Me!
New Investors don’t yell at me! It’s Miami Beach baby, NOT Texas or North Carolina where real estate investments might make you money in the short run. In response to an inquiry on making it all make sense on a $500,000 budget, I’ve relayed the info on what to expect when financing 80% of the value.
Here are the best deals around $400 to $500,000 along Miami Beach, South Beach, North Bay Village (island)… Sale Price to List price average is at 90% with occasional deals at 10 to 20% off list price (especially when cash & fast closing).
Financing 20% of $500,000 you’d have an estimated payment of $2,390 ($400k at 6% Interest 30 year fixed) Click here
This can easily be manipulated based on the type of loan you choose, term, FICO, etc.
See the Miami Dade County Tax Estimator here.
Rule of thumb is 2% of purchase price
ie) $500,000 at $10,087 year or $841 month
Here’s the Dade County Tax calculation at $450,000 purchase price.
Countywide at $2,362 City $2,654 State $296 School Board $3,577 Children’s Trust $190 (without HomeStead Exemption located in Miami Beach with a millage rate of $20.1746 per thousand. Total $9,079
In calculating your total monthly expenses, we see an estimated payment of: $3,781 month. I estimated maintenance at $550 plus $841 (Taxes on $500,000) plus $2,390 (PI). Insurance, Water, Sewer, Garbage, Grounds (sometimes cable & internet) included in Maintenance Fees
Today’s savvy Miami Beach Investors pay cash or at least 40 to 50% down for the numbers to make sense when renting is required. Primary end users buy Miami Beach real estate because they love the location and see future appreciation potential (as do investors). My calculations also show us at the bottom of the market (specific to Miami Beach oceanfront communities) as inventory slowly decreases while closed sales increase. Be sure to see the new Blog posting coming this week and reflecting 1 Quarter Stats 2008. I continually add to this Miami Beach real estate blog so if you’d like new updates once available, you can be notified by email (automatic) or by RSS feed (see upper right column) each time a new posting occurs.

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Miami Beach Real Estate Trends & Buyer Lessons 101

by on Apr.05, 2008, under Buyers of South Florida, Condos and Development

Miami Beach Real Estate Trends

Well friends, here the 1Q scoop. The graph above shows us the Miami Beach condo inventory (33141 waterfront) for sale throughout 2007 into this first quarter 2008. Notice the inventory heading up then down. This may signify the market inventory improving. I’ll be watching this closely in Quarter 2, 3 and 4 to see if we really have reached the bottom and will be keeping you informed through the MiamiBeachRealEstateBlog.us

Miami Beach Condo Inventory Trends

This graph above is also crucial to understand. What we are reviewing is the average time on the market for condos that HAVE SOLD. The next crucial indicator is the Sold Price to List Price Ratio which shows us an average of 90%+ of list price. The later part is important for today’s buyer’s to understand…This oceanfront entity of Miami Dade County is specifically Miami Beach. The demand is and will always be Miami Beach OCEANFRONT, Duh! This graph also includes Bay front condo sales but what I’m going to repeat over and over is that well price properties… let’s call them “Deals, Bargains, Steals, Foreclosures, Short sales,” or whatever it is that your query for a “good deal” constitutes, are indeed selling at 90%+ of the list price.

L1. It’s fairly plain and simple that there are no “good deals” at 30, 40 or especially 50 cents on the dollar unless you factor in what the value was in 2005 and then getting close. This oceanfront segment of the market has in fact depreciated 25% since the market peaked in 2005. If you think time is on your side in finding this type of mark down, then you may be waiting and may never own in Miami Beach.  You may also explore my friend Lucas at MiamiCondoInvestments.com for something great in Downtown Miami.

L2. For those that need financing… as interest rates rise, you may find yourself priced out of the building that you could afford today. With a 2% rise in the interest rate, your $400,000 loan just went from $2,359 (5.85%) to $2,893 (7.85%) for an additional $534 monthly expense. Will this happen? You better count on it as the Fed’s are placing a band aid on an open wound.

L3. If you are previewing the 1 to 3 of the very best ”Deals, Bargains and Steals” of a condominium meeting your overall criteria and the best priced condos are at $450,000 to $500,000 range while recent comparable closed sales are showing 3 sales at, let’s say $550,000, $565,000 and $599,000, it will be very unlikely (sometimes insulting) that the owner will take $300,000! The best I’ve seen around the block and saved my customers this year is 16% and it was a cash offer with 7 day closing.

L4. You MUST first know it’s a BARGAIN when previewing the building by reviewing a comparable closed sale report provided by an area expert and proving it’s a great buy. Understand this last part and make sure your agent shows you both MLS and privately closed sales.

The moral of this blogory is Miami Beach real estate has great opportunity with today’s excessive Miami Condo inventory to get a you a “Deal, Bargain, Steal” on your terms when a “reasonable” offer is presented. Reasonable is 10 to 20% off the asking price at best depending on your financial capabilities, sale contingencies and closing time frame. Feel free to comment on your thoughts related to this blog. Myself and the many readers would love to hear from you! I continually add to my Miami Beach real estate blog, and once you visit, you can be notified by email or by RSS feed (upper right column) each time I post a new article.

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