Condos Not Selling as Fast in Miami

By Sunny Isles Real Estate Expert on January 20th, 2017

Brickell condos for sale

While the condos in South Florida are still selling, some say they haven’t been selling quite as fast as many sellers would like. This is due to the slight slowdown that the residential market has been experiencing. Currently around 77% of the units in the preconstruction market have sold, but some see this as being too slow. However, it is important to realize that the units are still moving. They are still being sold, but it’s happening a bit slower than the developers want.

Loss in Buyers

The sales of both currently built and preconstruction condos have dropped over the past several years by several percentage points. The slowdown varied based on the building, location, popularity, brand, marketing, etc. Some have only dropped by a single percent, while others are down around 10%.

Brickell and Miami River condos are reporting that around 85% of the area’s units have sold. Condos In Downtown Miami have sold around 70%. In North Miami, Key Biscayne, and Coconut Grove the number is reaching 90%.

The buyers that developers have counted on in the past, namely those from the northeast and those from Latin American, are not buying as much as they were. Those in Latin America are contending with a stronger American dollar now, and many countries in that region have internal problems. Even though they aren’t buying as much as they once were, they are still buying and renting more often.

Experts believe things are going to be changing though over the course of the next year. They see the Brazilian real as getting stronger against the dollar. They predict that they will start to see a larger number of Brazilian buyers when that happens. Another one of the reasons that professionals believe more purchases will be coming soon is because of the cost of the rents. In some cases, the rent can be as high as $75,000 a month. The renters will quickly see that it makes far more sense to buy one of these properties rather than to continue renting.

What About the Remaining Buyers?

For the buyers, this appears to be some very good news. It means there will be more of a surplus in units available, which means they will have more choice available to them, and they should also be able to negotiate for better prices. While the prices certainly aren’t dropping like a rock, they are starting to come down a bit. The sellers should still be able to make a decent amount when they sell a home, but the buyers should start to see some better deals coming to the market.

This is especially true of the condos that are already on the market and that are for sale by owners. The preconstruction condos that are for sale in Miami, while they are suffering from a slowdown, will likely not see any drastic price drops, at least not unless the market takes a deeper dive.

Whether buying or selling, always keep a lookout on the market to know when the best time to make a move will be. It’s the smart thing to do.

Call our office today to consult with Leon Bell – one of the top realtors in Miami, vice president of One Sotheby’s International Realty Sunny Isles Beach branch.

The Caribbean Has the Amenities and Features Modern Buyers Want

By Sunny Isles Real Estate Expert on January 18th, 2017

Caribbean Miami Beach Condos

The word Caribbean evokes images of glittering sand and azure seas, and a relaxed way of living. The Caribbean condo complex in Miami Beach does a very good job of meeting those expectations that you have in your mind. While this building has all of the modern features and amenities you could want, it has a long history. It has been around since 1941, making it one of the older buildings in the area. Not to worry though; it has undergone a remodel inside and outside, and that has helped to make this building one of the most popular and in demand in the entire city.

What Features and Amenities Does the Caribbean Offer?

The Caribbean Miami Beach condos offers 24-hr security, as well as valet parking. Since this is a condo and a hotel, the parking is for the guests as well as the residents. There is covered parking, as well as concierge services. One of the other nice features you will enjoy is the heated infinity edge pool by the oceanfront. There is a sun deck area with lounge chairs, so you can get some sun, as well as spa services for those who want to relax.

Residents who want to stay in shape will love going to the state of the art fitness center. It has all of the equipment you need to keep healthy and fit. There is also a resident’s lounge that has a billiards table. The building features a business center and owner’s storage area as well. There are also high-speed elevators, beach access, and towel service for the pool and beach.

What Will You Find in the Residences?

The interiors of the building were designed by Christopher Ciccone, so you can see just why the lobby, as well as the residences, are so stunning. You can choose between one and four-bedroom plans. The units have great views of things such as the Miami skyline, the historic district, and the ocean. The ceilings in the condo units are 9’ high. The windows are floor to ceiling, and they are made from impact resistant glass. The Caribbean Miami Beach Condo penthouses are very impressive. They have 10’ ceilings, as well as private rooftop access and pools.

The balconies on all of the units are very spacious. They can be a great place to relax on your own or with a loved one, or you might even want to entertain on the balcony. The homes are prewired for cable and high-speed Internet. Enjoy the designer Italian kitchens, as well as the Sub-Zero refrigerators, Miele appliances, and the large walk-in closets. In addition, they have a washer and a dryer, as well as whirlpools in the master bathroom. Everything about the units says luxury.

When you combine the great location with all of the other amenities and features of the homes at the Caribbean, it becomes very easy to see why this building has become so popular. There are many things to love about the area and the building.

Is a Boutique Condo Right for You?

By Sunny Isles Real Estate Expert on January 16th, 2017

South Beach Boutique Condos

Have you thought about buying a boutique condo? These could be a good option for many buyers in the Miami area, as there are quite a few boutique projects in the area. Of course, you might be wondering just what a boutique condo is and why it might be a better choice for you. Let’s look at some of the basics.

What Does Boutique Mean?

Boutique condominium complexes tend to be smaller buildings that have fewer than 100 units in them. Some have far fewer than 100 properties. It is the small size that helps to set these buildings apart from other massive towers, and people like the intimacy of the smaller units. The boutique condos allow you to have more privacy since you will have to contend with fewer neighbors overall. In the same vein, it often brings the condo community closer together.

Keep in mind that this doesn’t mean that the unit itself will be smaller. In fact, they tend to be the same size or larger than comparable options in many cases. It just means that the building itself has fewer units. This helps to make them more exclusive, and many buyers looking for luxury properties like that idea.

The buildings tend to have some of the same great amenities you will find in larger buildings, such as pools and fitness centers. However, you will find that it’s often easier to take advantage of these amenities when you are in a boutique property. In a building with hundreds of units in it, there will be those days when the pool is full and when you have to wait for a machine in the fitness center. Those days are rare in a boutique building.

If you’ve been looking for a property that is unique and that has more privacy, considering a boutique condo property might be just the right move for you. Make sure you speak with your real estate agent about this during your search for a home. They can provide you with information on some of the best boutique properties that have come onto the market. However, some of the newer boutique condos in Miami Beach are One Ocean Miami Beach, Ocean House South Beach, Apogee South Beach, Capri South Beach and Marea South Beach. These are just few examples of ultra-luxury oceanfront condos in Miami Beach available for sale now.

Benefits for the Developers Too

Those who are creating the condos will also find some nice benefits from the smaller buildings. Their overall cost of construction will be much lower, and they can put up the buildings in far less time, which means selling and getting people into those units faster. They will generally have more latitude when it comes to the design of the units as well, and this can allow them to take some more chances to create unique properties.

The developers tend to have more options in the location of the building as well, simply because it is easier to get approval for smaller projects.

Right for You

As you can see, these types of buildings have some great benefits for the buyers and the developers. Take the time to look at some of the boutique properties currently available to see if one of them is right for you and your family.

What Is Making Bath Club Condos So Popular?

By Sunny Isles Real Estate Expert on January 13th, 2017

Bath Club Miami Beach

Bath Club Miami Beach is a 19-story residential condominium, completed in 2006 and is set to impress! The complex includes very spacious condo units as well as ultra-luxurious villas, set directly on the ocean and several penthouses. The historic Bath Club was transformed into the new mega complex in Miami Beach, situated on 65th Street and Collins Ave. You will find plenty to love with this tower including the modern design. Let’s look at what Bath Club has to offer.

What Does Bath Club Offer?

When you are choosing a place to live, a big part of whether you want to buy a property depends on the building and the amenities it offers. Bath Club Miami Beach has plenty to offer. It has two red clay tennis courts, spa, pool, cabanas, a business center, multi-function room as well as a wine cellar. There is also plenty of amenities on the beach. You can also keep in shape at the onsite fitness center. The resident’s lounge area overlooks an infinity edge pool. There are 13 cabanas available.

Those who live at Bath Club condos will also have direct access to the beach. It’s nice to be able to walk just a few feet from your home and feel the sand between your toes.

What Do the Units Offer?

The traditional condo units in the building will have 5,620 square feet of space, and they will have four bedrooms. These units will have 12’ ceilings, as well as 360-degree terraces, which will provide you with some truly impressive views. They will also have private elevator foyers, a master bedroom with his and her baths, a media room and family room, a private wine cellar, and open kitchens that have an island between the kitchen and the living area.

The villas are also quite impressive. They have 8,688 square feet of living area, as well as a private lap pool. It will also feature a private elevator, a 24’ ceiling, decks with a summer kitchen, and a covered lanai area. The penthouse is massive and features, 10,200 square feet. It has a rooftop deck that includes a swimming pool.

A Wonderful Location

All of the amenities in the building and in the units are fantastic, but you will also love the location. When you call this place home, you are going to be just a short distance from many of the most popular places in Miami Beach. You can also head to Sunny Isles, Bal Harbour, and downtown Miami easily. There are plenty of places to shop and dine and to enjoy some entertainment.
With all of the great features of Bath Club Estates, it is easy to see why this building is so popular even before it is completed. If you are considering a new home in the area, whether you are going to live in the unit year round or you are just going to use it as a vacation home or an investment property, consider Bath Club Estates. Find the property that’s right for you and your needs.

Pudge Rodriguez Home on Pinetree Drive Sells for $19 Million

By Sunny Isles Real Estate Expert on January 11th, 2017

Altos del Mar Miami Beach home

Ivan Rodriguez Torres, who often goes by the name of Pudge, played for the Texas Rangers, the Florida Marlins, Detroit Tigers, Washington Nationals, Houston Astros, and the New York Yankees in his career. The catcher received the American League MVP award in 1999, and many baseball lovers believe him to be one of the best catchers the sport has ever seen.

The World Series winner (he was with the Florida Marlins at the time) was more than just a great player though. He also loved the good life, as a home that he once owned on Pinetree Drive in Miami Beach was recently purchased for a whopping $19 million by a family from Britain. The Miami Beach home is on the waterfront, and it has a Mediterranean style and a lot to offer the new owners.

The property is located at 6385 Pine Tree Drive Circle, and it features 12,600 square feet. It’s a stunning property that features a 1.1-acre double lot. The new family should have plenty of room since the home has nine bedrooms, 11 bathrooms, and two half bathrooms. The lot overlooks the Indian River, and it has 175-feet or prime waterfront. That’s not all though. It also offers a standalone caretaker’s cottage, a guesthouse that has two bedrooms, and a private entry guest suite with one bedroom.

The home, built in 1937, has always been impressive, and it’s great it was able to fetch the $19 million price tag. However, the initial asking price when it hit the market was $25 million, which was eventually dropped to $21 million. The final asking price of $19 million is still quite good though, especially when you consider the home’s history.

The last time it sold was to Robert Nichols in 2006. He is the cofounder of AeroTurbine and is now the chief operating officer for AerSale. When he bought the home, he paid $8.05 million and then did a complete overhaul of the home’s interior. Even with the money he put into the renovation, he was still able to make a nice amount with this sale. The renovations he did have helped to make the home a real standout according to those who have seen it.

Some of the features that make the home special and that have helped to drive the sale include the wine cellar, which is large enough to include a thousand bottles. It also has a media room and a pub. The new owners can enjoy the koi pond, the pool, cabana, and jacuzzi, and their own private pier.

Before Nichols owned the property, Pudge Rodriguez and his wife were the owners. They bought it for $5 million and lived in the home for about five years before selling it to Nichols.
While they say that home prices are dropping for sellers in the area, when it comes to a gem of a property such as this one, it’s still possible to get a decent amount of money for the property. Hopefully, the new family will enjoy the home for many years to come.

Should You Consider Buying a Property in Altos Del Mar?

By Sunny Isles Real Estate Expert on January 9th, 2017

Altos del Mar Miami Beach home

When you are looking for a beautiful new place to call home in the Miami Beach area, not just any condo will do. You want to have a luxurious home that offers you the privacy that you and your family deserve. One of the top options in the area to consider is Altos Del Mar. This gated community is right on the beach, and it offers you the privacy you need, while having all of the amenities you want. The property has gorgeous residences that face the Atlantic Ocean, as well as some residences that are only a few steps away from the beach. There is plenty to love about this property.

It’s a Small Community

One of the first things you will notice about Altos Del Mar Miami Beach is the fact that it is a very small community. There are only twelve oceanfront and oceanside residences, which means you will not have to deal with many neighbors. It is located right on Miami Beach, between 77th and 79th Street.

The properties are also very large. They have four-bedroom to seven-bedroom options depending on just how much space you need. The size of the homes ranges from 4,000 square feet all the way up to 9,500 square feet. One of the things that makes this different from the other properties in the area is that these are all single-family dwellings, which is quite different from the typical towers that you see in the area.

Some of the features that are expected in these properties include summer kitchens, gyms, wine cellars, media rooms, and fireplaces. There are a number of world-renowned architects working on designs including Victor Dias, Cesar Molina, Ramon Pacheco, B-Pila Design, Louis F. Petrole, and NuHorse Design.

The Location

While the homes are certainly going to be impressive, you will find that there are actually quite a few other things to enjoy about Altos Del Mar, namely, the location. Since you are just steps from the beach, you can spend as much time as you want out on the sand. In addition, you will be just a short distance from all of the great things that Miami Beach has to offer. You can go shopping at Bal Harbour Shops, you could head into the downtown Miami Area, or you could go to Fort Lauderdale.

Whether you are going to be living in the home on a permanent basis, or you are only going to be living there during your vacations, it could be a good fit for you. Some might even want to look into the property as an investment. The location, the amenities, and the privacy are all factors that help to make this a good option. When homes are available, make sure you check them out.
With all of the great things that the property has to offer, including the amenities and the location, there are plenty of reasons to consider buying.

The Bel Aire Condos Could Be Perfect for Your Next Home

By Sunny Isles Real Estate Expert on January 4th, 2017

Bel Aire Miami Beach condo

When you think about living in the Miami area, you naturally want to live as close to the beach as possible. With Bel Aire in Miami Beach, you will find that the beach is actually just outside of your door. You will have access to 150’ of private beach area. It’s a nice option for those who are looking to spend as much time out on the sand and in the water as possible. Of course, there are plenty of other reasons that you will love Bel Aire condo. Have a look at the amenities of the building and the residences to see why it is such a good option for you and your family.

What Does the Building Offer?

The building as a number of interesting features that help to make it a great choice. It offers a beautiful entrance, as well as a conference room, a business center, and a 24-hour concierge. There is a movie and television room that also features a billiards table. The building offers a heated swimming pool, and around the clock security. It also features a health club and spa. This is perfect for those who want to keep in shape and who want to have a place where they can just unwind and relax.

What Will You Find in the Residences?

As impressive as the Bel Aire amenities might be, you will also want to check out what the residences offer to see if it will be a good fit for you and your family. They have ten different floor plans available, and you can choose from one to three bedrooms. Each of the units has sound proofing as well. This can be very important. If you like the idea of privacy, having sound proofing so you don’t have to hear your neighbors, and so they don’t hear you, can be a great idea.

The kitchens will all have designer hardware, as well as stainless steel appliances. The bathrooms are marble, and they feature whirlpool tubs and designer fixtures. The homes are also wired for cable, broadband, and security. The homes are very comfortable, and they have nice layouts. Given the large number of floor plans, you will want to check out several to see which ones might work best for your needs.

Close to Everything

Another one of the reasons that you might want to consider Bel Aire Miami Beach is because it is so close to everything that you might want to do in the area. You are just a short distance from the heart of Miami Beach, and you are very close to Bal Harbour, which can offer some great shopping. You can get into downtown Miami, Fort Lauderdale, Aventura, and more with just a short drive.
Whether you are going to be moving into the property full time or you are merely looking for a vacation property, Bel Aire could be perfect for you. It could also work quite well if you are going to use the property as an investment. Take the time to check out what properties are currently available.

How to Choose a Condo in Miami

By Sunny Isles Real Estate Expert on January 2nd, 2017

Sunny Isles Beach condo

If you have been thinking about getting a condo in Miami, make sure you know how to choose the best building and unit for your needs. The following are some of the most important elements to consider when you are choosing a condo in and around the Miami area.

Consider the Location

It’s an age-old cliché in real estate, but it is all about location, location, location. When you are buying a piece of property, think about the location of the building. How close is it to the thing that you want to see and do, as well as the things you need to do? Consider how long it will take to get to work and school for the kids, for example. If you are retired and don’t have kids, then consider how long it will take you to reach the various places you want to visit.

One of the nice things about Miami is the fact that it’s generally easy to get to just about anywhere you might want to go with a quick drive.

Check Out the Amenities

Always take the time to look at the amenities in the units and the amenities in the building. Does it have all the features you want, such as a pool, access to the beach, and a fitness center? What features is it missing, and can you live without those if needed?

Think About Financial Readiness and the Price Range

Buyers must always think about their personal finances as well to make sure they are ready for home ownership. It wasn’t too many years ago that people who shouldn’t have bought homes got in over their head. Be sure you can handle the mortgage and other fees associated with owning a home. Fortunately, in Miami, you can find homes in many different price ranges. Whether you are able to afford high-end luxury Sunny Isles Beach condos, or you are looking for a small one-bedroom unit as a first-time home, chances are good that you can find what you need.

Understand the Condo Rules and Regulations

Keep in mind that the buildings will have homeowners’ associations, and they have their own sets of rules and regulations. Always be sure to go over these regulations before you buy a property to make sure there is nothing that will conflict with the way you want to live. For example, if you have some large dogs that you want on the property, you don’t want a building that only allows dogs up to 20 pounds. Know what you are getting into.

Consider the Future

When you are buying luxury oceanfront condo, think about how desirable the unit and the building might be down the road. Ideally, you want to have something that will be relatively easy to sell when you are ready to move into a new place in a few years.

Take your time when looking for a property. Your real estate agent can help you find the best place to call home.

Pay Attention to the Short-Term Rental Rules

By Sunny Isles Real Estate Expert on December 25th, 2016

Treasure Island Miami Beach homes

Many times, when people are buying properties in Miami Beach, they are buying them as investments. They may offer them as short-term or vacation rentals, for example, and while this can be a good option for many, you do need to make sure you are following the regulations set up in the city for short-term rentals. A short-term rental is any rental that is up to six months and one day.

Fines Going Up

There have been quite a few problems faced by the city in this matter. The code will allow for vacation rentals and short-term rentals only in certain zoning areas. They are banned in the case of single-family homes as well as several zoning districts. Therefore, if you are buying a piece of property in the area, you will want to know exactly what you can and can’t do with the property.
From March to around the middle of August, there were 106 fines levied against companies and individuals in the area for breaking these rules with an overall sum of $1.59 million. The fines are now starting at $20,000 the first time someone is in violation. This is a massive increase to what they were a years ago. They used to range from $500 to $7,500. For the second violation, the $20,000 doubles to $40,000, and then up to $60,000 for any additional violations.

Naturally, this is causing some rather large problems for those who are renting property in the area, and many have found that it is causing some massive drops in the luxury real estate rental field. There are at least two full-time code enforcement officers assigned to short-term rentals in Miami Beach. They seem to be very eager to do their job based on the number of fines they’ve levied already.

Many of the owners and companies in the area that are offering property for rent are defying these orders and they are continuing to rent. They say that they want to work with the leaders in the community about trying to come up with a fair set of rules for short-term rentals. They don’t want to be in violation, but they also want to make money from their property.

In addition, they say, and rightfully so, that the luxury rental market is huge for the tourism business in Miami Beach and surrounding areas. Families, celebrities, and more come to the area and want to find place to rent. Sometimes, they are not in rentable areas, and other times, they want to stay on for more than six months. These people are spending money in the local economy, and the businesses that own these rentals are hoping the local government realizes this.

Understand the Rules

While the rules might not change right away, they could change in the future. Regardless, whenever you are buying and then considering renting out a piece of property in Miami Beach, or anywhere else for that matter, make sure you understand the rules and regulations for your area.

Treasure Island Offers a Treasure Trove of Homes

By Sunny Isles Real Estate Expert on December 23rd, 2016

Treasure Island Miami Beach homes

You won’t have to worry about pirates if you decide to live in this beautiful community of Florida. It is a friendly place to call home, and a wonderful place to raise your family. There are many single family homes in the region, and it could be just the place you have been looking for. Let’s look at some of the other things that Treasure Island Miami Beach can offer to help you determine if it is a good fit for you or not.

Beautiful Homes on the Water and Inland

You can find some great homes in the area. These single family homes can offer buyers the privacy that they want for them and their families. Since the water is so close, you will never be far from the beaches. In fact, some of the homes in the area are actually on the waterfront.

Although you are located on an island, you will never feel too isolated. You will have the privacy that you desire, but you will still be close enough to get to all of the other locations that you might want to visit, or that you have to commute to for work.

Treasure Island Miami Beach real estate is a small community located in Biscayne Bay. Even though it is a part of the Miami Beach scene, that’s not to say that it doesn’t have its own personality, because it does. Those who make their home in the area will find that there are some great places to dine and find entertainment that are just a short distance away.

What’s Right for You?

If you are thinking about buying a home on Treasure Island, you will want to consider a few things first. How much space do you need, and do you want to have property, not just a home? If you need a large space, and you would like a yard, and perhaps access to the water right from your property, then this could be a good solution. Single family homes on Treasure Island are often beautiful and expensive, but keep in mind that not all of them are on the water. If you still love the idea of living on an island, but you can’t afford one of the waterfront properties, you might want to see if there is anything available inland.

One of the things you will want to keep in mind though is that the single family homes will not have the same amenities and features of a condo complex. Naturally, you won’t have a concierge or a valet. Consider whether these things are important for you before you decide to go with a single family home rather than a condo.

If you would like to consider homes in the area, make sure that you let your real estate agent know. They can tell you everything you need to know about the community and they can keep you up to date on any of the new properties that become available.