$30 Million Home Just Listed in Tahiti Beach

4 Tahiti Beach Island was listed this week for $30 million. This incredible home is over 21,000 square feet on a waterfront lot over 65,000 square feet. The home boasts 10 bedrooms, 12 bathrooms, and is three stories with a 4 car garage. Some of the interior features are a theatre, formal dining room, chef ready kitchen, infinity edge pool, full bar, elevator, and marble and wood floors. The views of the ocean are incredible and it is a secluded island property that feels like there are no neighbors.
Tahiti Beach is a development within the incredible neighborhood of Cocoplum. Cocoplum is within the city limits of Coral Gables, which is known widely for its incredible dining and tree lined streets. Celebrities and socialites alike own homes here and the Cocoplum neighborhood is gated and even within the Cocoplum gates, the Tahiti Beach homes are gated inside as well. The Schools surrounding the neighborhood are some of the best in South Florida and University of Miami is also close by. In just 15 minutes via US 1, bustling Miami and South Beach are at your door. Miami has witnessed a veritable boom in terms of development and culture in the past five years that is undeniable. There are only 4 homes currently on the market in Tahiti beach, if you would like information on these homes and this neighborhood, contact us today.
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Foreclosure Rates Fall in Metro Miami

Core Logic announced that the foreclosure rate has fallen in Miami to 14.59%, which is 3.13% percentage points down from a year earlier. The number of delinquent mortgage loans in the Miami area fell 3.87%. The definition of delinquent is more than 90 days and the rate includes foreclosures and mortgages where a lender has already taken title to the property. It has been steadily declining over the past two years and the actual prices foreclosed homes are fetching are at all time highs due to the demand, both foreign and domestic. The delinquency is above national averages and across Florida the rate us 10.41% and 2.97 % nationwide.
The market in Miami is experiencing incredible gains currently, and sellers are fetching top dollar for homes. Inventory in Miami Beach in both condos and homes is below what economists consider a healthy level. Buyers looking for a bargain are coming up empty handed in Miami Beach. With 100 new buildings planned there will be an influx in inventory but not until 2014. Last year the highest priced home was sold and this year the highest priced condo was sold. We Expect big things from the market in 2013, and the foreclosure rate to continue to slow.
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South of Fifth Neighborhood Focus

The South of Fifth Neighborhood in South Beach in Miami Beach is one of the top destinations for those looking to relocate to Miami. It has some of the most luxurious condominiums in Miami and some of the finest restaurants. Part of the allure of this neighborhood is the proximity to the Miami International Airport, Downtown and Brickell by way of 395. These destinations are at most a 20 minute drive. Some of the destinations within this neighborhood are Milos, Prime Italian, Prime 112, Fogo De Chao, and Smith and Wollensky. It is highly walkable and is really the most European of the areas of South Beach.
Some of the incredible real estate in the South of Fifth Neighborhood include, The Continuum, Icon South Beach, Murano at Portofino, Murano Grande, Apogee, and the newest is Ocean House, which is yet to be built. If you are looking to be a full time resident, this area has excellent schools, South Point elementary is considered one of the best primary schools in Miami. These luxury buildings line the water and they have units with absolutely incredible views of the city of Miami Beach as well as Downtown, Fisher Island, and the Government Cut. For more information on buying a home in this neighborhood, contact us today!
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Penthouse Focus in Miami Beach

The Continuum North and South Towers offer much in terms of location, amenities, and luxury living. The Continuum’s towers are located at the southern-most tip of South Beach in the trendy South of Fifth neighborhood. This neighborhood offers incredible dining such as Milos, Fogo de Chau, Prime 112, Prime Italian, and Smith and Wollensky. There is also a marina in the South of Fifth neighborhood. The Continuum has its’ own compound so to speak and the amenities are endless. With enormous pools, fitness and spas, private dining and beach, this is the ultimate point of living in Miami Beach.
The penthouse we are featuring today is truly one of the most extravagant listings in Miami, if not in all of South Florida. With the recent record breaking sale at The Setai, these ultimate penthouses are increasingly coming on the market, with very high list prices. Penthouse 2 is listed at $39 million and has over 11,000 square feet of living area with 6 beds, 7 baths, and 1 half bath. There are water views of the government cut, Fisher Island, the Atlantic Ocean, and Downtown Miami. This penthouse is 4 levels and has a private elevator and every square inch of this home is custom finished and appointed. With a rooftop pool, and staff and guest quarters, this sky home is really more like a mansion in the sky. It is the second most expensive penthouse available in Miami. For more information, please contact us for a viewing.
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NAR Releases Numbers from Home Sales in December

Chief Economist for the National Association of Realtors released a statement regarding the recent numbers of previously owned home sales for the month of December today, “Record low mortgage interest rates clearly are helping many home buyers, but tight inventory amd restrictive mortgage underwriting standards are limiting sales.” This comes as no surprise given the record low inventory in Miami and we are seeing this increasingly as a sellers market. In December, sales fell 1% however they remained 12.8% above December numbers in 2011. 4.65 million homes were estimated by NAR to be sold in 2012, which is an increase from 9.2% in 2011 and is the highest level since 2007.
Nationally, the housing inventory dropped 8.5%, reaching 1.82 million homes, which is estimated to be a 4.2 month supply. Economists consider a 6-7 month supply to be a healthy market and this low inventory is lowest since 2001. This is not a sad story however since the median price of homes has been driven up by 11.5% since last year. In Miami Beach, we are witnessing a drastic shortage of previously owned homes for sale. There are 83 planned developments for this year in condominiums and hopefully there will be more released on the market. If you are looking to sell your home, contact us today!
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Alex Rodriguez Takes Mega Mansion off Miami Marketplace

According to the Miami Herald and sources close to Alex Rodriguez, he has taken his North Bay Road home off the market. He built the home with former girlfriend, Cameron Diaz, and this zen and modern retreat will serve as his den of recuperation after a hip surgery. “Alex wants to concentrate on making a full recovery so he can be ready to return to baseball after the All-Star break in July. So he doesn’t want anything to disturb the recovery.” The home has been on the market only a short time, placed on the mls in August, and as the market continues to rebound and the inventory is scarce, he is likely to have no problem selling the home in July.
The incredible piece of real estate is located on North Bay Road, which is one of the most sought after neighborhoods in Miami Beach. Celebrities with homes on North Bay Road include Matt Damon and Chris Bosh and numerous other A-list celebs have had homes there. Many of the homes have incredible views of the water and the neighborhood is quiet with children playing often in the streets. La Gorce Country Club is a private club nearby and the Miami Beach Golf Club also is close for those looking for leisure activities. Miami International Airport, Downtown Miami are both a 20 minute drive and South Beach is only 10 minutes away. For more information on this incredible neighborhood and listings, contact us today!
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