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, June 3, 2011

Most buyers know that one of the major caveats of choosing Miami Beach condos over a traditional home is losing a significant amount of creative freedom.  Inside—and especially outside—the walls of your posh unit overlooking Biscayne Bay, what can and cannot be done is mostly governed by the association.  In such a scenario, what happens when you want to turn those wall colors into a shade you find more agreeable?

Generally speaking, Miami Beach condos or any condo is required to maintain the same exterior color when it's being repainted.  There is however a certain of leeway here that one can potentially get away with, such as changing a plain white color to something off-white.  Of course you must make sure that these changes don't violate the so-called “material alteration” of an association's elements.  In other words, stick with a shade closer to original and refrain from doing something radical like going from white to blue.

Always remember that the ultimate decision is that of the association board.  At least 75 percent of the association must approve the change unless there are governing documents that dictate otherwise.  If these hurdles seem like an unnecessary headache and stifle your inner Picasso, perhaps Miami Beach condos may not be as good of a choice as a single family home.

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Friday, May 27, 2011

The sale of bank owned Miami Beach real estate and bank owned real estate in general has been a key factor in keeping the market afloat.  During the fall of 2010 however, foreclosure sales seemed to have “hit the brakes”.  Is the first half of 2011 shaping up to be a repeat of last year?  Thankfully not.

Thanks largely to encouraging retail resurgence and considerable discounts, bank owned sales have risen once again. The people behind this comeback of sorts are the same ones responsible for most of the buying activity at Miami Beach condos like Canyon Ranch: foreign buyers who don't mind paying cash.  For the first quarter, over 2,200 homes were sold in Miami-Dade County, a healthy increase of more than ten percent over the previous quarter.

In a bit of sobering news, real estate experts say that it will still take a couple of years before all of these bank-owned properties are bought up as well as those that may soon fall under the category of bank-owned.  Although the Miami Beach real estate market probably doesn't have as many as other neighborhoods, you may find a good deal worth looking into if you do some research.

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Wednesday, May 25, 2011

You might have heard of Canyon Ranch, one of the more unique Miami Beach condos to emerge in the past few years.  On top of its beachfront location, the building takes a health skewed approach that offers everything from a health goods store to classes that focus on well-being.  It seems like international buyers are liking this creative approach.

Who are these buyers purchasing Miami Beach condos at Canyon Ranch?  Brazilian individuals and families to be precise. Attracted by the meditation and fitness classes and the building's unique spa, the strength of the Brazilian economy is pushing many buyers to Canyon Ranch.  What makes the 70,000 square foot spa so special is its location: Brazilian spas are generally within small towns while the Canyon Ranch spa is right on the beach.

If you're interested in the Miami Beach condos of Canyon Ranch, there are over 500 units to choose from.  Over forty classes focused on the mind and body are offered on a daily basis along with additional services and amenities like a gourmet restaurant, massages and even a doctor available on-site.

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Friday, May 20, 2011

One place that most South Floridians frequent whether or not they live in Miami Beach condos is the Miami Beach Convention Center.  This classic mainstay of the barrier island has played host to many important events, including Art Basel.  Many believe however that the building is long overdue for a major overhaul and expansion, but who will provide the estimated $650 million in funds necessary to get that done?

City manager Jorge Gonzalez has been holding discussions behind the scenes with some major names.  In fact, none other than Hilton and Marriott have sat down with Gonzalez to discuss an ambitious expansion that would swell the size of the convention center to a whopping two million square feet and would include a 1,000 room hotel.  Speaking of which, Hilton already has a well established high reputation thanks to the Miami Beach condos of Bentley Beach.

What are your thoughts on the convention center expansion?  The project would certainly boost the appeal of Miami Beach condos and likely increase property values but there are significant hurdles to overcome that need to addressed.

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Monday, May 16, 2011

Selling Miami Beach real estate is arguably just as tough, if not tougher than the buying process.  Prospective buyers make huge demands nowadays from ridiculously low prices to gift cards.  What should you to come out on top while still playing friendly with the buyer?

For starters, leave deadlines out of it. Whether you're behind on your Miami Beach real estate mortgage, need to move within a certain amount of time, leave it out.  A buyer who knows you're on a deadline may use that to their advantage since they know you're on a tight deadline and may therefore be willing to accept a better lowball offer, for example.

Speaking of those aforementioned gift cards, incentives can also work in your favor.  You could tell the Miami Beach realtor you're working with that you'll pay an extra ten or twenty percent if he or she manages to sell the home above a certain amount.  You could also add a timeframe to the incentive which may encourage the realtor to promote and/or sell your property more aggressively in order to meet that deadline and take advantage of the incentive.

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Friday, April 29, 2011

Like in any neighborhood, Miami Beach condos have associations that among many other things, collect fees and set rules.  Each association has rules that may differ slightly, such as allowing or not allowing pets.  When it comes to immigration status, can they also make rules that might prevent people from moving in?

A real world example of such a situation actually occurred here in South Florida where an association decided not to allow a person to rent or lease from any owner because they were an illegal immigrant.  Now both federal and state laws prohibit rejecting a lease or rental agreement because of where a person comes from or the country they were born in.  If said person is looking for Miami Beach condos and entered the country illegally however, there may be no grounds for discrimination.  Lack of not possessing proper immigration paperwork is a gray area.

Why would an association even bother to go that far?  It's believed that because there was no way of checking credit and/or a person's background, it's more of a preventative measure since it can't be determined how financially responsible the person might be.  Although the majority of Miami Beach condos don't have this stipulation, it's worth considering.  Do you think immigrants should be barred from having a place to live?

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