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!

Friday, November 16, 2012
Art Basel will be in Miami the first weekend of December and with it comes many art buyers and the most influential people in the world of art. It is the second largest art fair in the world and it is an excellent time to add a piece of work to your collection. Often in remodeling, a piece of artwork is used as a focal point. Designers often will take a cue from colors or textures in a piece of art to design a room around. Before you go to Art Basel and choose a piece for yourself, we have a few tips for buying art for the home. If you are looking to sell your home with an art collection, contact us today.
1.      Preparation: Before you head into the art fairs, make sure you have the measurements of the area you are looking to fill.  Length versus width in inches is what is used in the art world. Consultants are on hand at booths so you will not be alone, however it is also a good idea to ask your interior designer to come with you as well.
2.      Emotion: You will be living with a piece of art every day and it is important that it makes you feel a certain way that you can live with. A piece of advice that is very sound is to go through a magazine, such as a travel magazine, and monitor your feelings towards certain imagery. Whether a beach scene is pleasing or mountains, keep a note of the feeling you get then apply that when you are looking at art.
3.      Representation: The art dealer you work with is very important. Fine art is an investment as much as real estate is. A reputable dealer will not discount more than 10% and beware of those that misrepresent an artist or work as appreciating too high too fast. They will try to sell you a piece the same day, but rest on it and go back to the place you have, chances are, you will be able to buy it the second day.
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Wednesday, November 14, 2012
Many are taking advantage of record low mortgage rates and refinancing to make additions or renovations. Whether you are looking to build a new kitchen or customize closets, you will need a team of professionals to make your vision a reality. We recommend hiring a designer and contractor to actualize your vision. There are a number of considerations you will need to take into account before hiring your dream team and we would like to illuminate them here. If you are looking to remodel for the purpose of resale, contact us today!
1.      Timeline: How long can you go without use of your kitchen or bath? Depending on the materials you will be using and the area of the home you are remodeling you will need to determine the maximum amount of time you can do without total use.
2.      Costs: Make a list of improvements and money allotted to each project. The designer will come in great hand in this particular matter since they have an idea of how much materials will cost as well as the timeline for ordering and the approximate time for installation. The contractor can price out the cost of a job per hour as well, completing your total budget.
3.      Material and Style: This is the primary purpose of the designer. They can direct you to the materials and types of finishes that are most cost effective and within your vision. The style you may be leaning towards from magazines may not be the best for the overall home as well, having a very minimalist kitchen with a French living and dining area detracts from the home in terms of resale value.
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Tuesday, November 13, 2012
Lawrence Yun of The National Association of Realtors reported today that US home prices are expected to increase by 15% over the next three years. Home prices have fallen 1/3 or more from the peak in 2006, while in 2012, and in South Florida in particular, prices are stabilizing. Builder confidence is at its highest in 4 years and the supply is very tight. In Miami Beach, inventory is at around a 3 month supply, which is very very low. An increase in home price may encourage buyers to purchase larger homes since mortgage rates are still remaining at all time lows. More news was reported from an economist at Wells Fargo, Mark Vitner, announced, “We will be at an all-time low in interest rates late this year or early next year.”  
Those buying bigger homes or modifying their mortgages to improve their homes will stimulate the economies as well. Everything from home stores to real estate professionals benefit from the low mortgage rates and increased spending a rise in building produces. Lawrence Yun also said, “Builders need to add more. We need to moderate the price growth.” Yun predicted construction to increase by 1.3 million units by 2014 which is still below an average of 1.5 million. The small home builders are the last to build because labor costs and materials are still high and local lenders are not openly lending. The luxury market has experienced an opposite reaction from lenders growth is the opposite. Lenders in the South Florida have opened lending to luxury developers such as The Related Group due to the promise of cash buyers that have demanded luxury development throughout 2012. 83 new developments have been proposed in South Florida in the past 6 months. For the latest in development news, keep up with our blog!
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Thursday, November 8, 2012
Tags:   Newsletter
Built in 1926, The Roney Palace is one of the first high rise condominiums in South Beach. It has undergone consistent renovations and now this 18 story mi-rise luxury condominium has been made over again. It is located on 600 feet of the beautiful Atlantic Ocean and is in the heart of South Beach. Residents enjoy the adjoining hotel, The Perry with David Barton Gym and STK steakhouse. The area of the beach that Roney Palace is located in places it within walking distance to the Miami Beach Public Library, Bass Museum of Art, Jackie Gleason Theatre, Lincoln Road, and Ocean Drive. The Roney Palace truly enjoys metropolitan pleasures while being right on the beach.
The Roney Palace was completed in 1926, making it one of the most historic sites for a condominium in South Beach. Perched on 600 feet of oceanfront, the condominium has 3 pools, valet accommodating over 1,200 cars and is within a 5 star hotel. The luxury residences available at Roney Palace they are available in studios, one bedroom, and two bedroom floor plans. Residences are between 565 square feet to 1480 square feet and are ideal for vacation properties or year round. The residents will enjoy 24 hours a day service from valets to concierge thanks to the fact that it is in concert with The Perry Hotel.  The interior amenities include pre-wiring for cable, subzero and bosch appliances, and floor to ceiling glass windows with oversized balconies. For more information on residences in this historic building, contact us today!
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Wednesday, November 7, 2012
Tags:   Newsletter
This week’s International Real Estate Congress conference in Miami this week announced that developers are proposing 83 new condo towers with an estimated 12,410 units. One of the new sites if in Bal Harbour and will be developed by an Argentine, Consultatio Bal Harbour LLC, and will erect a high rise estimated to cost $220 million on 5.5 acres with 250 luxury condominiums priced at over $2 million each. Who is buying in South Florida? Canadians are still the largest investors in South Florida real estate and South Americans are second along with the Chinese, and there is not a lot to choose from currently on the market.  In 2008, at the real estate crash there were 108,000 townhouses and condominiums on the market, today there are less than 3,000 of those units left to be sold out of 49,000 built since 2003. Experts estimate that in a year, these will all be sold, which is one of the reasons that the developers are starting up again.
Lenders have begun funding developers again as well. The rising rents in Coastal South Florida are aiding in the lender shift in mentality as well. Rents have increased as much as by $2.02 per square foot in downtown Miami and investment properties are on the rise. Cash buyers are often purchasing the pre-construction properties that require large downpayments, which also aid in the new developments. Some of the new condos we have discussed are Icon Bay, Mansions at Acqualina, Grove at Grand Bay, and Beach House.  It is a wonderful time to purchase in Miami and we are so pleased to report this news! For pre-construction pricing on the number of incredible properties being erected, contact us today!
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Tuesday, November 6, 2012
Tags:   Newsletter
Forbes magazine lists Fisher Island in Miami as one of the most expensive neighborhoods to call home and with its incredible location and amenities, who can disagree? First of all, it is a private island community with private beach, tennis, golf, spa, and marina. The only access is by ferry which runs 24 hours. It originally was the private winter retreat of the Vanderbilts and it has since been redeveloped to include residential style suites, guest house suites, courtyard villas, and historic cottages. Once you disembark the ferry, you enter into a fantasy world of decadence with casual and formal dining, incredible spa facilities, tennis club, golf club, marina, and shopping. You may not need to leave for weeks on end, however for a night out, South Beach is a quick trip away.
Our featured property is residence 7744 and it is the most luxurious and expensive property listed for sale on Fisher Island. This property is in the center stack with a direct ocean view and view of the government cut. It has an enhanced floorplan for added value and is listed at $14 million. Flooring is a mix of marble and hard wood and it is available fully furnished. It has a new golf cart, storage area, and can close immediately. The home has 6,820 square feet of living area and has 6 bedrooms and 6 baths. It is zoned for the South Pointe Elementary School and the Nautilus middle school, which are some of the best in the city. It was 3 parking spaces for visitors and a two car detached garage. This home is stunning with some of the best views in all of Fisher Island. Call us for listing details.
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