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, March 17, 2010

Are there problems afoot at W South Beach?  One of the most popular Miami Beach condos has run into a bit of trouble, not necessarily because of financial concerns but due to what some existing buyers feel was a lack of full disclosure on behalf of the developer.  What's going on behind the scenes in a building that's otherwise a success?

There are several buyers at W South Beach who are now attempting to have the money they used as a deposit returned to them.  Many feel that the developer failed to mention the availability of additional and larger Miami Beach condos within the building and the fact that a proposed second pool never happened.  In other words, there seems to be a bit of deception going on and some legal actions have now been enacted due to these problems as well as the developer's failure to mention some discrepancies between what was promised and what was ultimately received by the buyer.

It's interesting that W South Beach has only managed to close on 42 of the 408 units within it even though it's arguably considered among the hottest Miami Beach condos in the city.  Thankfully the building hasn't succumbed to foreclosure as some other buildings have but it does show how tough it is to get units sold in the existing climate and the importance of full disclosure.

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Tuesday, March 16, 2010

Not too long ago the city of Miami Beach decided to look towards the future and launched complimentary Wi-Fi throughout many areas like Lincoln Road, a move that not only made the city more technologically up to date but also increased the appeal of Miami Beach condos, particularly for those using them as vacation homes.

The Wi-Fi news may not have sent shockwaves through South Florida or generated too many front page headlines but that was probably because it was only the beginning.  Instead, Miami Beach is looking to become one of the several cities in the country to test out Google's impending ultra high-speed broadband network, a network that's more than ninety times faster than what most people currently use as their internet connection in their Miami Beach condos.

Miami Beach must now ensure that it meets all of the conditions and criteria that the search giant will require in order to become one of the initial testbeds for the new broadband initiative, including things like the amount of community support, weather conditions and the general availability of broadband.  Will blazing speeds by Google draw more people such as business professionals to consider Miami Beach real estate?

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Monday, March 15, 2010

Miami Beach condos like the Fontainebleau and W South Beach have become well known party destinations.  Like any party where alcoholic beverages are readily available, there is bound to be a couple of people who are far too inebriated to be driving but still take the life threatening risk of getting behind the wheel.  The number of drunk drivers on the road may soon decrease substantially.

Next time you're out partying at one of the Miami Beach condos or practically anywhere in South Florida and have had a little too much to drink, stay off the road and contact Zingo Fort Lauderdale.  This new designated driver service will send out a sober designated driver to get you home safely, all without having to leave your precious vehicle behind.  How exactly does it work?

Zingo drivers arrive to your location  in their own scooter, a scooter that can be easily packed into someone's trunk.  You and your car are driven home and the Zingo driver takes their scooter out of the trunk and heads back to help someone else.  If you're among the many who enjoy the frequent parties at Miami Beach condos, consider such an option next time as you'll be doing yourself and an innocent life a huge favor.

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Friday, March 12, 2010

Putting aside the Miami Beach condos landscape for a brief second, the downtown Miami area was quickly developing a reputation for being a ghost town of sorts due to the number of brand new yet empty Miami condos sprinkled throughout the area.  It seems that may no longer be the case as a wave of new permanent residents is returning downtown Miami to its former glory.

According to a recent study, nearly 75 percent of the more than 22,000 units erected since 2003 are now occupied, that's quite an impressive statistic after recent reports showed that  a large number of Miami Beach condos within the South Beach area remain empty.  These encouraging numbers for downtown Miami represent an increase of more than nineteen percent since May of last year when only 62 percent of downtown Miami condos were occupied.

These figures are encouraging not only because they show improved occupancy, but also because it's a reliable indicator that the excess inventory of condominiums is dwindling down, the actual pace notwithstanding.  This increase can also be attributed to the significantly reduced prices and the willingness for owners to rent out their condos to cover mortgage payments.  Now the question is, will Miami Beach condos soon follow suit?  Let's hope so.

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Thursday, March 11, 2010

Does the Miami Beach condos landscape seem a bit less crowded than what's customary?  It's not entirely surprising.  Despite several areas within the barrier island seeing price drops, recent reports show that over 1,300 units available for sale amongst the more than 5,500 available in South Beach are still in pristine condition as they have literally never been lived in.  In other words, they've remained unsold as of the beginning of this year.

As a whole, prices for Miami Beach real estate have dropped somewhat but that's not quite the case in the South Beach area.  Being that South Beach receives worldwide exposure and is where the priciest condominiums are, there's significantly less odds of developers willing to negotiate on prices since demand remains relatively strong.

Over the past seven years more than two dozen Miami Beach condos have been built yet less than fifty percent of those projects have completely sold out .  These numbers are a fascinating real world example of the large amount of excess inventory in Miami Beach yet the strong demand remains.  Would greater flexibility in price help to sell more of these unsold units or is such a move not even necessary?

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Wednesday, March 10, 2010

The Miami Beach condos landscape has been relatively dormant for some time now as the excess supply is slowly reduced in order to meet the lukewarm demand.  However, if you were to take a stroll or drive through Collins Avenue, you may have noticed workers adding some finishing touches to a new building, that building being the Terra Beachside condo.

Terra Beachside is a six story building with more than 110 Miami Beach condos within it and boasts a strong focus on Zen living.  It also happens to be the only significant new condominium building being erected within the city, a project that was originally the brainchild of the esteemed Sieger-Suarez Architectural Partnership.  Terra Beachside is currently in its final stages of development and is expected to be done next month but has already begun sales.  Potential residents will be able to move into the building in May.

Of the 116 Miami Beach condos within Terra Beachside, they come with the option of one to three bedrooms.  All floor plans with more than one bedroom are two stories, the largest of them offering over 3,400 square feet.  Considering the city it calls home, prices for Terra Beachside Miami Beach are surprisingly affordable starting at $200,000.  Make sure to reserve your unit soon.

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