Miami Beach Real Estate News

Real Estate News

Every day is a different experience in Miami Beach.  Its ever-changing landscape and the diversity of the Miami Beach real estate market present exciting new ventures, opportunities and events that make it one of the most dynamic cities in all of sunny South Florida.

Our Miami Beach real estate blog is always being updated with the latest real estate news about Miami Beach and its neighboring areas, including local events and exciting new happenings.  As part our ongoing efforts to provide you with the most comprehensive information on Miami Beach and its collection of varied property, we will highlight and acquaint you with a new, acclaimed Miami Beach condo each month.

We encourage you to comment on our latest Miami Beach real estate and South Beach real estate news postings and contribute to the discussion.  The eclectic lifestyle and community always presents new perspectives and we’d love for you to share our postings with friends and family through your preferred social networking websites.  Thank you for reading our Miami Beach blog!

Wednesday, September 18, 2013
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In Miami we have had an incredible year of growth with an ever shrinking supply of condos and homes and continued demand from international and domestic buyers. Throughout last year the mortgage rates were at record lows and buyer incentives were high. In Miami, investors and home buyers found themselves in bidding wars over properties and this mad scramble reduced the inventory significantly. Home prices in both the condominium and single family home markets are up in the double digit percentage points and builder confidence is so high that we have over 60 new developments under construction in South Florida. Some believe that we are looking at another housing bubble, however most economists consider this to be a bonified recovery. Here are some factors to consider.

Inventory. Across the nation there is a considerable shortage of inventory, no more acutely felt than in the Miami single family home market. The condominium market will have a price adjustment due to increase of inventory with new developments, which will have an effect on the prices of single family homes, which will be one factor to watch.

Affordability. Homes values have increased with the reduction of inventory and the reduction of distressed homes on the market. As the inventory shrinks, home prices can be inflated with lack of comparable properties, making some homes too expensive and over valued, which will slow the selling pace. It will be important to watch the affordability and buyer actions resulting from price increases, to judge the demand accurately.

Investors and Individual Buyers. Investor Behavior is integral in the recovery. As prices increase, investors will slow their buying. This will leave homebuyers purchasing with financing. The way this process unfolds is important to watch since it will give some indication on how reliable the recovery is.

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Tuesday, September 17, 2013
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Gindi Family and Nakash Family of New York were the winners of the auction for Casa Casuarina this morning. Bidding started at $25 million and the winning bid was $41.5 million. The next highest bidder was Donald Trump with a bid of $41.5 million. Other bidders included Glenn Straubb, the owner of the Palm Beach Polo Club. The estate was originally listed at $125 million and then reduced to $100 million, and most recently, $75 million. The new owners are an LLC which also own the neighboring Victor Hotel. They announced that they intended to petition to use the Versace name and use the property as an adjoining hotel to the Victor. Peter Loftin was the most recent owner, who used the property commercially as the Villa at Barton G. It is zoned for both residential and commercial use. This was one of the most highly anticipated auctions in Miami Real Estate history. Congratulations to the new owners!

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Monday, September 16, 2013
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Allison Island is one of the man made islands comprising Miami Beach. One half of the island are townhomes and the other half are single family homes. Both are equidistant from South Beach and the luxury shopping mecca, Bal Harbour, and it is one of the most desirable areas to live in in South Florida. The Miami International Airport is a mere 15 minute drive and downtown Miami is also a short drive of 20 minutes. Both sides are guarded 24 hours a day with security and the homes start in the millions. The homes are are all waterfront and some of the most historic homes in Miami.

Our featured mansion on Allison Island is 6420 Allison Road. This estate was restored in 2006 and is the creation of famed architect, Maurice Fatio. It has a Jack Nichlaus putting green on the premesis and is on an oversize lot of 29,000 square feet. The Mediterranean style home is massive with over 6,300 square feet of interior space with 135 feet of waterfront. It has a resurfaced pool and spa and nearly every bedroom overlooks the water. It has 6 beds and 6.5 baths with guest quarters. The renovations left little modern amenity to be desired and the home is priced at $12.9 million. For more information on this estate and others on Allison Island, contact us today!

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Friday, September 13, 2013
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Fisher Island is home to some of the highest net worth individuals in Miami. It is a private island that is accessible only by ferry and has its’ own schools, shops, restaurants, and full golf course, tennis club, and fitness pavilion. Residents enjoy private beaches and the ultimate in luxury all over the island. For more excitement, South Beach is just a small ferry ride away with direct access to all that South Beach has to offer. The Miami International Airport and Downtown Miami are also just a short drive upon disembarking from the ferry. There are a number of real estate opportunities on Fisher Island from luxury condominiums to townhoomes to a select number of bungalows.

Our featured skyhome is not in any type of traditional Mediterranean style that one would find on the island. This massive penthouse is eclectic and avant garde with the most rare finishes in existence. 5302 Fisher Island Drive is a 7,400 square foot home with 5 beds, 4 baths, and 2 half baths. It has soaring 19 foot ceilings, family room, office, 5000 square feet of terrace space, 4 parking spaces, and top of the line kitchen. It has dark woodwork and completely lavish and often gold leaf interior work. The custom marble work alone is easily in the hundreds of thousands and it has water views from nearly ever room. It is listed at $7.395 million. For more information on this home and others, contact us today.

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Thursday, September 12, 2013
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6000 Indian Creek is a Sieger Suarez project that was completed in 2007 and consists of a 25 story building with onlt 35 residences. Residences in this building enjoy incredible views of the La Gorce Golf Club, Biscayne Bay, Atlantic Ocean, and Downtown Miami Skyline. The floorplans are open and offer views from nearly every room. Kitchens are all top of the line with miele appliances, granite countertops, and imported cabinetry. Baths are all in full marble.  The building is striking due to the green blue glass that was used in construction, and the resale value in the building holds up to the competition.

The neighborhood 6000 Indian Creek is located in is known as Millionaire’s Row and it is one of the most stable and safe areas in Miami Beach. The Beach’s in this neighborhood are not crowded and there are wonderful independently owned restaurants and boutiques lining this area of Collins Ave. The 195 via Alton Road provides access to 95 and downtown Miami as well as the Miami International Airport. Bal Harbour Shops are only a 5 minute drive down Collins, and the Design District shopps are also a quick drive up 195. This area is truly one of the hidden gems in Miami Beach, and this building is an excellent place to call home.

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Monday, September 09, 2013
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$35 Million for a home on Star Island is par for the course in Miami Beach real estate. Afterall, it has been home to Sean Combs, Rosie O’Donnell and many other financiers and celebrities over the years. The real estate on Star Island can be aptly described as a whole in terms of ultimate luxury. The security on the island is as tight as the pentagon and tour boats circle the island pointing out famous properties, often the properties have rich history since it is one of the most famed man made islands in the Miami Beach chain. It is equidistant from Downtown Miami and South Beach, making a work commute and fun on the weekend both easily achievable ends, and the Miami International Airport is just a 15 minute drive. Our home this week, is brnag new on Star Island and is worth every penny of the steep price tag.

30 Star Island Drive was just completed in 2013 and is a modern marvel. It is naturally waterfront with beautiful western facing views of the Biscayne Bay and Miami skyline. It has dockage and an infinity pool on the main story, as well as another pool off of the 1,800 square foot master suite. The home features American black walnut flooring and it has high ceilings and an elevator. Some of the other amenities this home enjoys are gourmet indoor and outdoor kitchens, a theatre, gym, 4 car garage, and guest house. It has 11 bedrooms, 11 baths, and 4 half baths within a very spacious 16,000 square feet. Its’ furnishings are modern yet comfortable for a family and staff. For more information on this home and others on Star Island, contact us today.

 

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Housing Rebound: Factors to Consider
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