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!

Tuesday, June 1, 2010

We’re officially at the halfway point of 2010 and market activity continues to be a shaky albeit somewhat encouraging ride of sorts.  The choice to buy Miami Beach condos in the current climate remains a decision that must be evaluated very carefully but if you’re considering it, some fairly recent news regarding mortgage rates may appeal to you.

Mortgage rates have dropped to their lowest numbers so far this year, tumbling from 4.84 percent for a thirty year fixed rate to a new 4.78 per Freddie Mac.  These low rates haven’t been seen since December of last year when mortgages dipped to a record low of 4.17 percent.  Even more surprising were fifteen year fixed rate mortgages which dipped to 4.21 percent, a number that hasn’t been seen in nearly two decades.  If you’re interested in Miami Beach real estate, don’t spend too much time “on the fence” as experts say these rates may not be around very long.

It seems Floridians are responding as evidenced by a surge in applications to refinance last week, one of the highest levels seen since October of last year.  Conversely, applications to purchase new property like Miami Beach condos dropped to levels not seen since April 1997 largely due to the expiration of the home buying tax credit.

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Friday, May 28, 2010

Two days ago some rather distressing news had several Miami Beach condos and hotels concerned.  After city officials debated whether rooftop bars and parties were a disturbance, it was soon followed by a potential ban of selling alcohol on the beach.  Considering that many beachfront condos and hotels are expecting lots of people during this long weekend, this possible ban could significantly affect the bottom line.

In a move that has many people breathing a sigh of relief, city officials have chosen to postpone the onetime immediate ban of beachfront booze until Miami Beach’s attorney delivers a formal legal opinion.  If you were looking to head out to Miami Beach condos such as the Fontainebleau, Gansevoort or W South Beach well, you can now rest assured that your piña colada will be waiting for you at the beach itself.

In case you haven’t been following the recent news regarding Miami Beach condos and hotels, the city is seeking to crack down on public drinking after receiving a wave of complaints that also mentioned the amount of litter there was during speak break.  Would an outright ban be the best solution?

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Thursday, May 27, 2010

Generally speaking, soccer is not the most popular of sports here in South Florida, at least not when compared to sports like football which is often responsible for driving many people to stay in Miami Beach condos.  In fact, you’re more likely to hear about Miami being the host of a future Super Bowl than playing host to something like the World Cup.  With FIFA scouting the United States for its next World Cup host, that may soon change.

The US isn’t the only country FIFA is evaluating as a potential host for the 2018 or 2022 World Cup, it’s competing against nine other countries.  More specifically, Miami is among the potential cities within the US and its Sun Life Stadium is also the front runner in terms of where the event will actually take place.  The Miami Beach Convention Center is also possibility and if things do ultimately work out it could significantly boost business for restaurants and Miami Beach condos offering hotel accommodations.

Officials from FIFA won’t be visiting Miami until September but preparations are already underway to try and make Miami as appealing as possible when the time comes.  What are the odds of Miami securing a spot as a host for the World Cup?

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Wednesday, May 26, 2010

Yesterday we discussed the recent uproar regarding noisy Miami Beach condos functioning as hotels, their rooftop lounges and city officials possibly taking measures to address a situation that could deal a significant blow to business.  Just one day later, these businesses now have to deal with another unrelated potential setback.

The next time you’re in Miami Beach, you may not see as many people sipping fruity alcoholic drinks by the oceanfront, Miami Beach’s attorney has advised officials that beachfront hotels are barred from selling or serving alcoholic drinks to customers on the beach as that is city owned public land.  This bit of news arrives just as we approach the long Memorial Day weekend, a time when Miami Beach condos see lots of vacationers who may be expecting to relax on the sands while enjoying their piña coladas.

It should be noted that this will not affect serving alcohol in poolside bars, Miami Beach condos and hotels can continue to do that without a problem.  However, should there be a violation of beachfront alcohol serving, the perpetrator could receive fines or even jail time.  Will this news affect Miami Beach tourism?

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Tuesday, May 25, 2010

A hugely integral part of the appeal of certain Miami Beach condos is the partying, the partying on Ocean Drive, the partying on the beach and in cases such as the W South Beach and Gansevoort, the rooftop parties.  These rooftop parties are vital moneymakers but they may soon disappear if the city intervenes.

Neighboring residents living in conventional residential towers have been complaining about some of these rooftop bars and parties for some time now due to the noise and reduced quality of life.  Considering that they’re an integral source of income, these complaints have some hoteliers a little concerned that a citywide ban could negatively affect some of these Miami Beach condos that also function as hotels when the situation isn’t exactly favorable.

Should Miami Beach take action, it’s a strong possibility that a ban would only affect new Miami Beach condos seeking permits for rooftop lounges while others could remain in business or possibly lose their permits if complaints continue.  Do you think cracking down on these lounges is a good idea?

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Monday, May 24, 2010

What’s in a name?  At the Trump Towers in Sunny Isles Beach found to the north of the Miami Beach condos, a name can actually lead to lawsuits.  Such was the case at one point when buyers were concerned that the Trump name was being used solely as a means of getting people to buy a unit in the building.  It may not seem important but buyers believe that without the Trump name attached, the units could lose significant value and become worthless.

Despite all of the fuss over the name, the Trump Towers condo is doing swimmingly when it comes to sales, boasting over $95 million according to its current developer Dezer Properties.  Units within the building are selling for $550,000 to $1.9 million which considering the circumstances are very encouraging numbers.  Trump Towers was originally under the control of the Related Group, known for its many Miami Beach condos but its $265 million has since been assumed by Dezer Properties.

Trump Towers consists of three towers with 813 units overlooking the oceanfront, found right on popular Collins Avenue.  Like Miami Beach condos, you’ll find around the clock concierge, floor to ceiling windows and standard features such as a swimming pool and high end fitness center.

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