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, October 05, 2012
It is officially fall and the season in Miami is just beginning. Oktoberfest is German tradition lasting 16 days that is celebrated with Lederhosen, Bavarian beers, sausage, dancing, and games. This is one of the most popular holidays to celebrate for South Floridians and many establishments are throwing events. It begins this weekend and we would like to give you the events this weekend. Enjoy!
1.      Fritz and Franz Bierhaus in Coral Gables is having a ten day bash with all the elements of Old Germany.
2.      Oktoberfest in Oakland Park draws over 10,000 people and lasts two days, do not forget your beer stein! This event is on October 5 and 6 from 1pm to 11pm at Jaco Pastorious Park.
3.      Oktoberfest Brickell is today October 5, 6, and 7th from 3 to midnight. It is hosted by Brickell Biergarden and have a variety of passes starting at $10 and moving upwards to $200 for VIP.
4.      Brickell Fest: Sam Adams Octoberfest is hosted at Mary Brickell Village from 4pm to Midnight October 5, 6, and 7. The event includes 17 different beers, food from 10 restaurants, 15 live bands and a VIP, in true Miami style.
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Thursday, October 04, 2012
Brickell has become a cosmopolitan area that values have really taken off in. There is more inventory in Brickell than in Miami Beach, and it appeals to a younger crowd who work in the financial district of downtown Miami. It is a mere ten minutes from the Miami International Airport, and has some attractions within its’ bounds such as Blue Martini and Rosa Mexicana. For more information on preconstruction prices in these developments, contact us today!
Piero Lissoni’s Residential Project: This is one of the more interesting projects in Miami. Piero Lissoni is re-purposing the Miami Heart Institute into luxury residential units at 47th and Meridian.
Brickell House: A new palacial building in Brickell, the downtown area that is quickly becoming one of the hottest cospmopolitan areas of Miami.
Mybrickell: This is one of the first building projects to be constructed after the crash. Designed by Karim Rashid, this luxury property is playful and bright with many post-modern touches.
1100 Millecento: Carlos Ott designed this property and it is highly anticipated from The Related Group.
Brickell CitiCentre: This is an incredible project with 5 towers of mixed use residential and commercial property for sale and lease.
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Wednesday, October 03, 2012
Over 250 area realtors, chamber members, and influencers, convened at the W Hotel and Residences for its’ annual luncheon last Friday. The mood was markedly different than last year, since Miami has witnessed an increase in home values for the 9th consecutive month in August. While last years sales were largely distressed properties, this year the luxury market reigned supreme with the help of shrinking inventory of distressed properties and continued demand by international buyers. One in every three international transactions in the state of Florida took place in the metro Miami area, and Florida is the number 1 state in the nation for foreign buyers.
The steady demand of international buyers has also bolstered new developments in Miami as well. The Related Group, leaders in luxury developments, with projects under their belt such as Icon Brickell, have announced several new projects including the impressive Icon Bay. Builder confidence has increased and the lack of inventory and continued demand has hastened a number of new projects. The downtown Miami area has also undergone huge changes with investments in the Port of Miami, Marlins Park, and in the Design District. Many feel that Miami is coming into its’ own thanks to new museums and the influence of Art Basel. The Miami brand is on the rise, and everybody is buying this revitalized image.
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Wednesday, September 26, 2012
Bal Harbour in Miami is known for its’ incredible oceanfront condominiums, however there are a handful of homes that are available as well. Even more rare than a home coming on the market in Bal Harbour, is a new home coming on the market. 252 Bal Bay Drive was just listed on the market and it is completely new. It faces the Biscayne Bay to the West and is on large lot with tons of privacy. The home is modern and has all of the conveniences of a luxury home, and more. The home features  8 bedrooms and 7 and 2 half bathrooms and a four car garage. The pool is inground and faces the bay and has dockage for a large yacht. The home is listed for $25 million and we expect it to sell relatively quickly given the lack of inventory and the location of the home.
Bal Harbour is located at the northern most tip of the island of Miami Beach. It has mostly condominiums lining the famous Collins Ave and a small amount of homes. The most impressive part of Bal Harbour is the shopping destination Bal Harbour Shoppes. This European Style thoroughfare has the most exclusive shops in the world including Gucci, Chanel, Saks Fifth Avenue, and Neiman Marcus. It is conveniently located 20 minutes from the Miami International Airport as well as 20 minutes from the Fort Lauderdale International Airport. Surfside is its neighbor to the south, which has a large grocery store and a number of quaint eateries, as well as it’ own police force. For more information on this incredible listing and others in Bal Harbour, Contact us today!
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Tuesday, September 25, 2012
We have featured updates to your home and condo that add to the curb appeal, and now we would like to offer some design items that actually detract from a home’s curb appeal. In Miami Beach, the inventory has shrunk to the degree that very little actually detracts, since there are so few homes on the market, however if you are looking to make updates do not do any of the following. If you are looking to sell your Miami Beach home or condo contact us today!
1.      Flooring. Wall to wall carpets have shown to be a detractor from home value. They are ok in bedrooms, however throughout the home they pose problems in cleaning. Hardwood floors are preferred.
2.      Fixtures. If you are looking to replace fixtures, a general rule is anything but brass. Nickel is a popular option, brushed steel, and brushed bronze are en vogue currently and add to a homes value.
3.      Lighting. Avoid vanity lights in the bathroom and florescent lights in the kitchen. The lighting in a home that is the most desirable is soft lighting and energy efficient bulbs.
4.      Ceilings. Smooth ceilings are preferred as a rule in terms of safety, cleanliness, and ease of painting. Popcorn ceilings on the other hand are the least preferable, since if the home was built prior to 1980 it is likely that they contain asbestos, and they are difficult to clean and paint.
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Monday, September 24, 2012
Last week Freddie Mac announced that mortgage rates were back down to record lows after a brief increase the week before. The 30 year fixed rate mortgage average was recorded at 3.49% down from 3.55% and the 15 year fixed rate mortgage was down to 2.77% from 2.8%. Last year at this time the average mortgage rate was at 4.09%, what a difference a year makes! The Federal Reserve also announced that it would continue to purchase mortgage bonds to the tune of 40 million per week in the hopes of continuing to reduce the mortgage rates and stimulate the housing market, and the economy in general.  Wells Fargo Senior Economist Mark Vitner had this to say regarding the Federal Reserve decision and the mortgage rate status, “Mortgage rates are going to be lower than they would otherwise. Housing looks like it’s going to provide a significant lift to the economy over the next year.”
Nationally, the housing market is in recovery mode, and locally, homes are scarcely on the market for 90 days. All indicators are excellent regarding the current real estate market. Home prices are steadily increasing, the inventory is decreasing, and the amount of time a listing is on the market is shrinking. Further, builder confidence is high and new developments are rapidly coming to fruition. In Miami, new condominiums are being announced in droves, most notably Chateau Beach, Icon Bay, and Porsche Design Tower. Many of the new developments in Miami are in Downtown and Sunny Isles, due to available land, however we expect to see increased development of new homes in Miami Beach as well. For more information on buying or selling a home or condo in Miami Beach contact us today!  
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