Hi friends,

Let’s locate and analyze the top ten Miami Beach luxury condo sales from 2007 to 2011 including the average selling price per square foot in the luxury tier for the year.

2007 (Average Price Per Square Foot = $1,243) -

1. 1500 Ocean Drive #T8 Sold at $12M ($1005 psf)
2. Fisher Island #7263 Sold at $9M ($1320 psf)
3. Fisher Island #7192 Sold at $8.9M ($na psf)
4. Icon South Beach #PH2 Sold at $7M ($876 psf)
5. Fisher Island #7142 Sold at $8.3M ($1181 psf)
6. Continuum #2803 Sold at $6.5M ($1361 psf)
7. Portofino Tower #4003 Sold at $6.472M ($1505 psf)
8. Fontainebleau II #PH3702 Sold at $6.4M ($1488 psf)
9. Fisher Island #7415 Sold at $7M ($1400 psf)
10. Fisher Island #7782 Sold at $6.5M ($1053 psf)

2008 (Average Price Per Square Foot = $1,333) -

1. Fisher Island #7274 Sold at $12.360M ($1389 psf)
2. Fisher Island #7111 Sold at $7.2M ($1429 psf)
3. Fisher Island #7453 Sold at $11.2M ($1383 psf)
4. Fisher Island #7191 Sold at $8M ($1356 psf)
5. Fisher Island #5031/2 Sold at $5.6M ($820 psf)
6. Continuum #1606/7 Sold at $6.025M ($1376 psf)
7. Apogee #2004 Sold at $7.3M ($1757 psf)
8. Setai #PH VC Sold at $6M ($1680 psf)
9. Bath Club #Villa 4 Sold at $6.7M ($1175 psf)
10. Bath Club #Villa 6 Sold at $5.5M ($967 psf)

2009 (Average Price Per Square Foot = $1,225) -

1. Continuum #PH 1 Sold at $9.9M ($1343 psf)
2. Il Villaggio #PH 6&7 Sold at $7M ($1228 psf)
3. Murano at Portofino #3801 Sold at $7.450M ($1557 psf)
4. Fisher Island #7712 Sold at $5.457M ($974 psf)
5. Apogee #1104 Sold at $6M ($1444 psf)
6. Apogee #1404 Sold at $6M ($1444 psf)
7. One Bal Harbour #2008 Sold at $5.2M ($987 psf)
8. Apogee #1201 Sold at $5.450M ($1312 psf)
9. Continuum #3804-5 Sold at $6.250M ($1179 psf)
10. Acqualina #PH 4506 Sold at $4.999M ($779 psf)

2010 (Average Price Per Square Foot = $1,651) -

1. Setai #B Sold at $15M ($2416 psf)
2. One Bal Harbour #PH 2108 Sold at $8.7M ($1653 psf)
3. Fontainebleau II #PH North Sold at $9M ($2000 psf)
4. Continuum #1804 Sold at $6.750M ($1622 psf)
5. Fisher Island #7223 Sold at $6.750M ($990 psf)
6. Apogee #904 Sold at $6.550M ($1577 psf)
7. Apogee #1801 Sold at $5.9M ($1420 psf)
8. Apogee #1104 Sold at $5.350M ($1288 psf)
9. W Hotel South Beach #UPH 1 Sold at $6.2M ($2253 psf)
10. Apogee #704 Sold at $5.3M ($1293 psf)

2011 (Average Price Per Square Foot = $1,657) -

1. Setai #PH A Sold at $21.5M ($3463 psf)
2. Apogee #PH A Sold at $11.5M ($1678 psf)
3. Continuum #3604-3 Sold at $10.576M ($1643 psf)
4. Fisher Island #7163 Sold at $8.150M ($1160 psf)
5. Fisher Island #7724 Sold at $7.724M ($1133 psf)
6. Fisher Island #7734 Sold at $7.250M ($1063 psf)
7. Apogee #2101 Sold at $7.5M ($1805 psf)
8. Apogee #1404 Sold at $7.350M ($1769 psf)
9. Continuum #801 Sold at $6.5M ($1226 psf)
10. Apogee #1001 Sold at $6.8M ($1637 psf)

The seasonal slope since December shows figures on their way UP and Miami Beach real estate sales are looking very good. Inventory continues to fall while Pending Sales and Selling price per square foot are up over January 8% and 5% in the neighborhoods of Bal Harbour and Sunny Isles Beach respectively.. A steady confidence builds along the beaches, while news sources such as the Miami Herald & Wall Street Journal relay now is the time to own (if not last year) for the record real estate lows of the Miami Beaches.

Statistics for the month of February reflect 3,928 total condos for sale along the Miami-Dade County oceanfront communities of South Beach, Miami Beach, Bal Harbour, North Bay Village and Sunny Isles Beach with condo inventory levels down 9% year to date; again this month condo inventory is down 2% over last month with what is now an 18.27 month supply based on the previous 30-day closed sales:

** South Beach Condos: 1,401 for sale | 81 Sales in last 30 days | Average Days on Market 139 | Average Buyer Discount 5% | Average PPSF Asking $401/Sold $371
** Miami Beach Condos: 1,044 for sale | 64 Sales in last 30 days | Average Days on Market 136 | Average Buyer Discount 5% | Average PPSF Asking $241/Sold $222
** Bal Harbour Condos: 217 for sale | 6 Sales in last 30 days | Average Days on Market 124 | Average Buyer Discount 7% | Average PPSF Asking $440/Sold $399
** North Bay Village Condos: 192 for sale | 15 Sales in last 30 days | Average Days on Market 99 | Average Buyer Discount 2% | Average PPSF Asking $123/Sold $119
** Sunny Isles Beach Condos: 1,074 for sale | 49 Sales in last 30 days | Average Days on Market 124 | Average Buyer Discount 6% | Average PPSF Asking $249/Sold $231

Miami Beach | Sunny Isles Real Estate Summary

Miami Beach condo inventory has decreased consistently 2-6% each month, sale-price to list-price ratios have reflected an average 4-6% buyer discount while active days on market have decreased to 4.13 months to sell. Each of these indicators prove to be good signs for market improvement. What I’m watching closely this year and beginning to see is the selling price per square foot jumping about depending on the location. Over the prior 90 day period, selling price per square foot has increased an average 3% along the beaches. For the prior month, Miami Beach (REO) Bank Owned foreclosures made up only 3% of our inventory and have sold at 101.58% sale to list while Miami Beach short sales made up 16% of our condo inventory and sold at 94% sale to list. 78% of all closed sales last month were cash transactions! Seasonal demand is huge, Miami’s warm and the market shift is noted as trends move in favor of a new balanced market by years end. Many buyers are in to enjoy the warmth (& coolness factor) of Miami Beach luxury condos and to explore what remains to be a vast amount of good opportunities along Miami-Dade County Beaches. For more information on oceanfront locations, luxury buildings or statistics & trends simply write, find me on ‘Live Chat’ or call me toll free at 1.888.383.7326.

November 2010 – Real Estate Statistics for the Miami Beaches

October 2010 – Real Estate Stats for the Miami Beaches

September 2010 - Real Estate Statistics for the Miami Beaches

June 2010 – Real Estate Statistics for the Miami Beaches

The summer time buyer mentality is that Miami Beach real estate sales slow and although a steady confidence builds, the month of August proved it to be so…

Statistics for the month reflect 4,514 total condos for sale along the oceanfront communities of South Beach, Miami Beach, Bal Harbour, North Bay Village and Sunny Isles Beach and down 8% over this time last year; up 1% over last month:

** South Beach Condos: 1,673 for sale | 60 Sales in last 30 days | Average Days on Market 145 | Average Buyer Discount 7% | Average PPSF Asking $371/Sold $333

** Miami Beach Condos: 1,229 for sale | 46 Sales in last 30 days | Average Days on Market 127 | Average Buyer Discount 7% | Average PPSF Asking $285/Sold $259

** Bal Harbour Condos: 225 for sale | 11 Sales in last 30 days | Average Days on Market 161 | Average Buyer Discount 10% | Average PPSF Asking $384/Sold $341

** North Bay Village Condos: 243 for sale | 17 Sales in last 30 days | Average Days on Market 102 | Average Buyer Discount 5% | Average PPSF Asking $139/Sold $129

** Sunny Isles Beach Condos: 1,144 for sale | 37 Sales in last 30 days | Average Days on Market 159 | Average Buyer Discount 5% | Average PPSF Asking $256/Sold $235

This video on the Today Show caused many web visitors to try and search for Miami Beach and South Beach Florida condo opportunities under $50,000, only to be greatly disappointed. Whether it be the lack of true condo inventory under $100k, quality of property, the taxes or the monthly fees, most were a bit mislead on the vast opportunity along Miami-Dade County Beaches. For more information on oceanfront locations, buildings or statistics simply write, find me on Live Chat or call me toll free at 1.888.383.7326.

June 2010 – Real Estate Statistics for the Miami Beaches

Visit msnbc.com for breaking news, world news, and news about the economy

Happy New Year friends and this will be post #1 of 2010. Here’s a shocking new thought for 2010… Just because it sold for that price in 2008 & 2009, does it mean you can buy it for that price today? It seems to be happening again and again as inventory decreases.. Will there be a tough time understanding & coping just opposite to the seller reluctancy seen in 2007 as the Miami Beach real estate market came to a standstill?

The buying window of opportunity in “catching the bottom” may be leaving in 2010. My 2010 forecast will be coming in the next few posts as I discuss market stats, trends and the direction this year could go in as relay that NOW is the time to find the bottom of South Beach to Sunny Isles Beach. Sale to List Price Ratio have jumped from 88% to 92%.

On the flipside, we will always find opportunities so if you wait this year to watch I am certain you can find the “deal.” Some buildings are already seeing appreciation. Space 01 for example went up 23% in the last 90 days! 11 Island Avenue has gone up 13% in the last 6 months. Roney Palace is on the direction up and more (FNMA Financing now Approved) to come..

Many would consider condo deals to be under ie) $250k but from $150 to $5.5M, here are my top choices for January 2010 in which I expect sales to occur within the next 60-90 days. I have previewed the majority with customers and these have been the top choices.. these links are LIVE so we’ll all soon find out once the Status changes from Active to Pending to Closed.

• #1 $199k – Indian Creek Club Marina #6F (Short Sale)
• #2 $299k – Bay View Loft #206 (Approved Short Sale)
• #3 $439k - Roney Palace #1539
• #4 $445k – Oceania V #1852 (Corporate Owned)
• #5 $480k - La Perla #3406 (Approved Short Sale)
• #6 $649k – Trump Palace PH5103
• #7 $1.350M – Trump Palace #4902
• #8 $1.399M – Ocean Four #1101
• #9 $3.690M – Jade Ocean D2 (Flow Through only 1 of 2) Penthouse
• #10 $5.395M - Il Villaggio #1405

Preview Daily Updates on Miami Beach | Sunny Isles Condo Deals & Repos

Significant RESPA changes coming

The new RESPA (Real Estate Settlement Procedures Act) regulations that were published on November 17, 2008, are going into effect January 1, 2010.  These changes were primarily enacted to protect borrowers against excessive loan fee charges, and to make it easier for borrowers to understand their key loan terms and to determine the exact charges they are responsible for paying at closing. Such terms include:

• Loan term.
• Interest rate and whether it is fixed or variable.
• Whether there is a pre-payment penalty should the borrower choose to refinance at a later date.
• If there is a balloon payment.
• Total closing costs.

Good Faith Estimate (GFE) and HUD-1 Regulations

HUD, the primary agency for enforcing RESPA laws, is requiring that loan originators (lenders and mortgage brokers) must provide borrowers with a standard Good Faith Estimate that specifically discloses all their key loan terms and closing costs. Closing agents (including title companies) must provide borrowers with the revised HUD-1 settlement statement. It will now be easier for borrowers to compare their GFE with their HUD-1 Settlement Statement because each designated line on the final HUD-1 will make a reference to the appropriate line from their GFE.

Borrowers can shop around and compare loan products quicker and easier as well. HUD estimates that consumers will also save as much as $700.00 at closing under the new regulations as a result of the elimination of many junk fees that lenders and closing agents were charging borrowers such as fees for courier, wiring, notary, photocopying, postage, overnight delivery, document preparation and document review.

The new regulations affect mortgage loan transactions and not cash transaction. However, cash buyers are also provided with a HUD-1 closing statement a few days before closing by the closing agent to determine their closing fees. Cash buyers should request a closing statement if it is not provided. These new regulations will help prevent lender fraud and make it easier for borrowers to shop for competitive loan products. For more information on the new regulations, visit the HUD website at http://www.hud.gov/offices/hsg/ramh/res/resparulefaqs.pdf.

A Few More Reasons

Just a few more reasons why buyers should be taking advantage of the many loan products available today to help them with their purchase of Miami Beach real estate, South Beach real estate, Bal Harbour real estate, Sunny Isles Beach real estate, or Golden Beach real estate. These loan rates and affordable luxury condos & homes won’t be around for ever so take advantage now!

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!

Trump Royale North East Views

Hello friends.. I would imagine the famous Miami problogger is doing a stellar business even with the start of the summer months as regular blog postings from my favorite Downtown expert Lechuga have gone from daily to… every so often. I do wonder the state of the Downtown Miami market? I can attest the consumer confidence is much higher along the beaches with fantastic deals from $50k to $10M. I’ve been very busy promoting real estate package deals to my database, selling great properties, listing new buys and leasing with very little time to post. I’ve also had writers block yet have new ideas on great posts to implement soon. Most of my posts include research, statistics, analysis plus my opinions & outlook on the data while I also like to throw in the pretty photos to entice the right brain thinkers. There are a few new trophy properties that I’m looking forward to promoting here soon such as a luxurious 4,000 SqFt. oceanfront townhome  and another distressed sale on a luxurious 4,000 SqFt 2 Story Penthouse property along with a 5 unit package deal with immediate flip potential.

I do believe resort towns such as Miami Beach FL & Sunny Isles Beach attract a more affluent crowd as we have a tremendous amount of wealth here with many “locals” coming for 6 months each year (winter) and staying at their other homes during the rest of the year. Just a decade ago, higher income earners were concentrated in counties with large numbers of financial, real estate and professional jobs. But the Internet & wireless technology, plus the ability to fly in and out of almost any airport in the country have freed the entrepreneur to move where they like in significant numbers. With condo values going down 30% to 50% since 2005, many are now finding awesome oceanfront opportunities for a new life and business operation at a distance. It’s great to bring your clients down here, when you say you’re in South Beach, Miami Beach, Bal Harbour or Sunny Isles Beach and your clients are up north, it’s not too hard to get them to come visit you to see what your offer is. People from all over the globe choose to live here with the average tropical temperature at 80 degrees, orange sunshine, blue skies & green palms. This paradise is topped with an amazing lifestyle offering just about anything the affluent could want from golf, boating, fine dining, arts & entertainment galore. When earning an income significantly above the norm, why not live in the most desirable locations to enjoy life’s successes.

Write in and Speak Your Mind…

In researching Miami Beach condo inventory Q2 2009

including the Dade County entities of South Beach, Miami Beach, North Bay Village, Surfside, Bal Harbour and Sunny Isles Beach we have an inventory on May 11th 2009 at 5,677 (6,073 from May REO analysis and down 7%) total condos.

Out of those, how many would you guess are REO (Real Estate ‘Bank’ Owned)?….  only 80 (Bank Owned Down 27% from March 109 selection)  along the Dade County beaches or 1%. How many are short sales…? Miami Dade “beaches” short sales reflect 1,068 (Down 6% from May’s short sale selection of 1,131) or 19% of total condo inventory. These figures are derived from the South East Florida MLS (Multiple Listing Service).

MLS STATS show the Average REO (Real Estate Owned) Miami Beach List price is at $287,608 (Down 2% from March figures averaging $294,389) ~ Ave. list price per square foot cost at $260PSF (Up 13% over March $226PSF “asking“ prices) and average square footage at 1,069 SF.

These are the Best 20 MIAMI BEACH BANK OWNED (REO) DEALS.

I assure you I know local inventory and relay the very best… Miami Beach, Sunny Isles condo deals here {REO Miami Beach Bank Owned Condos Here} Click on any photo to enlarge. Feel free to post a comment with insights or questions pertaining… You will see ‘Pending’ in the upper left corner as these desirable condos soon go under contract fast! First Time Home Buyers are taking advantage of the new affordable selection plus $8,000 tax credit while Miami Beach Investors Note 2% to 5% ROI when owned outright. The truth is in the numbers, 1.888.383.7326.

You go Kris!

Lookout South Beach for the unveiling of South Pointe Park!! This Sunday at 3pm, the city of Miami Beach will be officially opening this exceptional park location again after a multi million dollar renovation. After 2+ years and over $22 million in renovations, this park will be a huge draw for locals and tourists alike. One of the countries world renowned parks, South Pointe Park consists of roughly 17 acres with a face lift including hundreds of new trees, grass that thrives on salt water, a boardwalk made of seashells, serpentine walkways, interactive water features and new public “playground” facilities with elevated promenades offering the very best views of Government Cut, South Beach & Fisher Island.

Come out to 1 Washington Avenue this Sunday from 3pm until dusk and see what all the excitement is about with free musical entertainment, refreshments and children’s activities! South Pointe Park will offer something for everyone~ It’s going to be a gorgeous day park so mark your calendars and don’t miss it.

View South Beach FL Condos for sale here or call 1.888.383.7326

Everyone who knows me, knows I’m a workaholic yet occasionally, I get out and have some fun…  It’s also rare that I get off track and change the subject of real estate but I wanted my friends and anyone else interested in seeing the entertainment of South Beach, Lincoln Road (Halloween October 08) fun… this community knows how to throw a fun, family Halloween event!

Beautiful Girls of South Beach

Always a Great Laugh!

80

Come and see us next year on Lincoln Road! If you’d like to receive the latest local real estate news (& occasional community fun) 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.

What a beautiful day today in Miami Beach Florida. It’s currently 70 degrees and sunny. After a short walk down Lincoln Road, I snapped off a few photographs of a great morning in South Beach. Season is here, traveller’s are making their vacation plans, and we will soon see a surplus of tourism in November through March as the warmth and beauty of Miami Beach shine through this winter!

Van Dyke Cafe

David

Romero Britto on Lincoln Road

Sidewalk Cafe

Lincoln Road

Is it cold where you are? Make travel arrangements here through SouthBeachVacationRentals.us and stay right on world famous Ocean Drive (Blog Post coming soon…) South Beach. You’ll find a handful of studios and 2 bedrooms at The Barbizon Beach Club (530 Ocean Drive) and they are booking fast for the season! 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.

South Beach over Lummus Park

Well, well… I almost wrote a blog on the Senate passing the housing bill helping borrowers and suddenly thought… boring next please! Read about it here on CNN and here on MiamiCondoInvestments blog. In the meantime, we’ll look at recent ratings on South Beach real estate noted by AskMen.com as the worlds most popular beach cities. AskMen.com recently wrote on their Top 10 Beach Cities with South Beach rated as #1! South Beach was compared with other fantastic beaches such as..

• Dubai, UAE
• Barcelona, Spain
• Rio de Janeiro, Brazil
• Cape Town, South Africa
• Los Angeles, USA
• Brighton, UK
• Sydney, Australia
• Mumbai, India
• Venice, Italy

Arguably the world’s most famous beachside city, Miami is where the world’s jet set come to top up their tans, fill up on cocktails and dance until the early hours with the rich and famous. Aside from being a tourism hub for its beaches, Miami’s beachside location also enables it to reap valuable trade for the rich city, with Miami Port being one of the busiest in the United States. Welcoming both cargo and cruise ships, the port contributes more than $16 billion each year to the state of Florida from international trade, providing countless jobs and ensuring that the city looks as glamorous as it does in the movies. +AskMen.com by Scott Mills Travel Specialist (Thanks Scott!)

Best beach.. South Beach Just 90 miles across the Atlantic Ocean from Cuba, South Beach is Miami’s most iconic stretch of sand, and is bordered by Ocean Drive’s row of art deco restaurants, bars, clubs, and hotels. The beach is so flashy, it’s even got its own workout equipment built right into the sand just in case beachgoers have one too many cheesy quesadillas at lunch.

South Beaches Colony Hotel

A great blend of outstanding beaches I must say. South Beach as Numero Uno is impressive. It seems there criteria went on cities above 100,000 people, atmosphere and overall identities. I’d like to add the beautiful people that make up South Beach. The cultural diversity, the food, the entertainment, the weather, and did I mention the gorgeous people of South Beach!? Oh btw, if you’d like to receive blog updates once available, you can easily be notified by RSS feed (see upper left column) or by email every time a new posting occurs. Reach out toll free 1.888.383.7326

Three sections of our City are well underway with Capital improvements. North Beach and South Beach have various stages of construction and there’s more on the way. Eighty percent of Miami Beach FL real estate improvement projects are ahead of schedule, so it won’t be long before you can enjoy new and improved streets, drainage, lighting and landscaping, as well as other improved infrastructure.

South Pointe Park is to be completed early 2009 as dunes are being created, a serpentine walkway that traverses a rising berm, open palm lawns, a new park pavilion with a unique rooftop event area and the foundation has been poured on one of the most exciting elements in the park… the “cut walk”. A 20 foot wide elevated promenade providing breathtaking views of Government Cut. Final touches to South Pointe Park include pedestrian friendly yet turtle safe lighting along the cut walk, a new destination entrance at Washington Avenue, distinctive and interactive water features and more. The jewel in its crown will be the Art in Public Places installation of “Drift,” in it’s exact scale model of an iceberg created by world class artist Inigo Ovalle. Also the streets between Collins and Ocean Drive from 6th Street to 14th Street are being updated with new sidewalks, striped pavement, lighting and landscaping with noticeable improvements to the pedestrian experience.

Belle Isle Park & Street Improvements are also close to completion. This 3.3 Acre green space is nestled between the Venetian Causeway and Island Drive South and improvements include enhanced landscaping, new pedestrian walkways, a playground with furnishings such as benches and trash receptacles. Plans are also in the works for a bark park for canine residents’ enjoyment…Arff!

The new Normandy Shores Golf Course and Clubhouse is on track for completion this year with the same course challenge and configuration as before yet with greener environmentally friendly grass and the nines reversed. Same as the Miami Beach Golf Course in the Bayshore neighborhood, the course will be bright green with eleven beautiful water features. The City of Miami Beach decided to honor the history by renovating the clubhouse to reflect it’s original design. A kitchen, 80 cart capacity barn with additional locker rooms for men & women and new restrooms.

Feel free to leave comments to let me know what you think, other topics you’d be interested in seeing and remember to make it a great day!

  With the current pace & trend of the real estate market, seller’s have come to terms with what it takes to get their property(s) sold in this strong Buyer’s market. With the ultimate condo selection rising to ~40 months of inventory, buyer’s are taking their time to cherry pick the sweetest deals. Seller’s have finally realized the decision & need to buy is based first and foremost based on PRICE, then features such as the brand new kitchen and baths used from boom equity. In some cases prices have dropped 30-40% while supply, time on the market and motivations rise for today’s sellers. With 2 years of pricing resistance, today’s serious seller is pricing not on smoke & mirrors but on actual data of the latest closed & active sales. The over-speculation of 2003-2005 has caused today’s sellers to be upside down while other seller’s have 20% wiggle room to play and test the market.

“Hallandale Beach, Sunny Isles Beach, Hollywood and Fort Lauderdale have about 200 long-term condo listings each with significantly reduced prices… “

  On the flip side, we find the luxury homes and condos in prime areas of South Beach have held much stronger than those in areas of less demand such as Broward County. Records are and have been set even in a buyer’s market. In luxury buildings such as Il Villaggio, recent sales show appreciation while supply remains low. In 2007, a 1 bedroom at Il Villaggio closed at $1,049M (110 DOM). There is a lot of foreign wealth coming into Miami. Today’s buyers are taking advantage of the weak dollar, excess supply and exceptional interest rates…many of them foreign investors from Russia, Europe and Canada. For further information contact Ashton Coleman at MiamiDreamRealty

This post inspired by Daily Business Review