Sunny Isles Real Estate

Everyone in real estate remembers the “good old days” of the pre-recession era, when the prices of homes were high and developers and realtors were able to sell home after home. It seemed as though there would be no end to the golden days. Of course, everyone knows what happened next. The perfect storm of bad things started to come together. This stew of trouble really hit in 2007, and the real estate market has still not entirely returned to form. While things are getting better, there is still a long ways to go, as you will see.

First, it’s important to look at what caused that initial downfall back in 2007. In fact, it was the aforementioned stew, or blend, of issues that helped to tear down the real estate market.

What Caused the Fall?

One of the first problems was the fact that the banks seemed willing to lend to nearly anyone who wanted to buy a home. It seemed like a great time for anybody to buy property, but it turned out that many people bought without understanding their contracts. They bought more than they could afford and when the real recession hit, they couldn’t pay. The economic downfall coupled with the issues of properties being more expensive than people could actually afford was too much.

Everything fell apart, and it took years before things even started to get close to normal. In fact, we still did not reach those pre-recession prices. According to Zillow, the value of property in some parts of South Florida is still about 36% lower than what the prices were at their height in 2006. Other parts, of course, like Miami and Sunny Isles Real Estate (click to see Sunny Isles properties here). They also go on to say that, according to the current growth rate and patterns, they will not return to that high until sometime in 2019.

South Florida hit their low mark in 2011. Fortunately, there was a huge turnaround in 2012 and 2013. However, even though they did help the counties of Palm Beach, Broward, and Miami-Dade to recover quite a bit, the increases have started to slow. While there is certainly still interest in the area, the interest does not seem to be as “fast and furious” as it had been. This could be due to the home prices starting to go back up.

Slower Growth Might Be Good

Is the slower growth really a problem though? The speed at which the market prices rose before was a part of the problem. By growing slower, and growing at a natural rate, it may actually end up being a much safer and stable place to invest in the end. However, this does mean that many of the homeowners who are already in homes they bought a year or so ago will want to stay in their homes for at least three of four more years so they can get back to the breakeven point. Still, this is far less time when compared to how long it will take full recovery to reach many other areas of the country that had far more of a severe real estate drop.

Overall, the projections are very positive with real estate in South Florida as well as the rest of the country continue to flourish and appreciate, which means that now is still a great time to buy real estate.


Miami Beach Homes For Sale

According to data coming straight from S&P/Case-Shiller, the prices for homes in the Miami region have been on the rise. In fact, the price of homes rose by 13.2% between May of 2013 and May of 2014. They show that there has been relatively stable and steady growth over the past year of more than one percent each month. While they are strong, it is important to take a realistic look at the growth, and to realize that it is slowing over what it has been the past couple of years.

Is Slowing a Bad Thing?

It is important to remember that just because the growth rate is slowing down a bit in Miami and other areas, that’s not always a bad thing. The growth hasn’t been stagnated. This means that even though it’s somewhat slower, the prices still appreciate but at a slower rate. In fact, the city and surrounding area is doing better than the rest of the United States in respect to the home price increases. It is important to keep this in mind.

Something else that is important to remember is that a beginning of a slow down period for the real estate market at this time is natural. It went through a recent big recovery phase, and now that things are getting back to normal, having slightly slower price increases is predictable. It is actually a good thing, as it ensures that the market does not get into a “buuble” like state, which is what happened seven years ago.

Will the Homes Ever Reach Record Highs Again?

While it’s impossible to predict the future, one has to think about where the city of Miami, as well as the United States will be financially in the upcoming years. It is also important to consider what will happen in all of the other countries with foreigners who like investing in Miami properties. If those countries have their own financial issues, as Argentina is going through right now, then it could put a bit of a damper on the sales. It all depends on a wide range of different factors.

However, experts in the field, not to mention the developers and realtors who are working in Miami, have a great feeling about the state of real estate in the South Florida. They feel that within about six years, the prices of homes should be about the same as they were before the recession. It just takes time to recover entirely, but it is inevitable.

Consider just how much money and effort so many developers are putting into completing their current properties and building new properties all around South Florida. Since they are building these new properties, and they have presales, it shows that people still have quite an interest in buying properties in the area. With all of the projects coming up in the next couple of years, it really does not seem as though the Miami real estate market is in any trouble at all. It’s just a matter of time before full recovery.


Baltus Condo Miami

There is busy, and then there is busy like the Related Group gets busy! In the span of a three-hour period in late July, 2014, the developer did something that other companies could only dream of doing. They began construction on three new condos in Miami. At the same time, they entered the presale phase for yet another high-rise in downtown Miami. If that weren’t enough, consider that this was just a week after they nearly finished work on two other towers in the area. These other towers, ICON Bay, a 43-story tower with 299 units and Baltus House, a 15-story complex with 167 units, are already extremely popular in the area.

The New Projects

Related Group held their groundbreaking ceremony in Brickell Heights to celebrate starting construction on a pair of towers in the area. One of the towers will have 46 stories, while the other will be slightly larger at 49 stories. Combined, they will have 696 units. The towers will be going up on the 800 block of South Miami Ave, along the west side of the avenue. They held their groundbreaking at 10AM on July 31.

Just an hour later, they hosted another groundbreaking ceremony. This new tower is the Paraiso Bay, and it will be 53 stories high and have 368 units. The tower will go up along the north side of Northeast 31st Street in the 600 block. It is important to note that this tower is just the first in what the Related Group hopes will be at least four in the Paraiso family of towers. They want to develop other towers between Northeast 31st and 32nd street, and they hope to have close to 1,400 units between all of these different towers. While these are not in the groundbreaking phase yet, it’s a good way to get an idea of what Related Group plans to do and how rest is certainly not on their schedule.

Approximately an hour after the Paraiso Bay groundbreaking, they will start their presale phase for another of the towers in Paraiso. Paraiso Bayviews will have 44 stories and 388 units. The actual build phase of this project will likely begin sometime in early 2015.

Always Busy

This type of activity is nothing new for the Related Group. They have always been very active when it comes to building new properties in the area. Right now, they have plans for a large number of new towers – at least 34 – between themselves and their partners. This will account for nearly 8,400 units. Already, they are responsible for around 24% of the units in the South Florida area. Take a moment to consider exactly how many units this is already and how many they will be adding in the coming years.

One thing is certain. The Related Group is one that is never satisfied to simply rest on their laurels, and they continually look for new opportunities. However, to remain successful, the company needs to continue doing well on all of their presales to hit their targets.


O Residences Bay Harbour

Bay Harbour Islands homes has always been popular when it comes to condominium developments. It has a wonderful location and plenty of fantastic features and amenities in the area, and it is little wonder that even more condo developments are in the works for the area in the near future.

More Developments on the Way

Recently a company from Miami called 9770 E. Bay Harbor Properties LLC bought up three lots in the area for $5.2 million. These three lots are quite large, with a combined 60,000 square feet. The lots are in a wonderful spot that’s very close to everything that residents and potential residents of Bay Harbour Islands have to offer.

Currently, the three lots each have small apartment buildings from the 1950s. These low rise residential units will eventually need to be torn down in order to make room for new buildings, if that is the route they choose to take. While many see the locations as prime spots for a new tower complex, it is still unclear just what the new owners will be doing with the property, as they have not made any announcements.

These areas are likely getting quite a bit of attention from condominium developers though. It’s a prime area and has the potential to bring in quite a bit of money if developed properly.

Bay Harbour Islands Is Always Impressive

People love Bay Harbour Islands, and the sales of condominium units on the islands have always been successful. It remains one of the most active and popular areas in South Florida when it comes to condo development. One of the reasons for this is the fact there are a substantial amount of land and properties available that are good choices for development.

The latest development boom in the area is proving to be very beneficial to developers eyeing Bay Harbour Islands. Currently, they are proposing at least 30 new towers for the area, which would bring in 1,350 units. This makes the area one of the fastest growing and most popular areas in all of South Florida.

Of course, with the big boom over the past couple of years, things have been going well through much of Florida. However, it’s still not quite clear whether there really will be enough buyers to purchase all of the new proposed units. Since there are so many options in South Florida for homes, the addition of even more units could actually slow home sales.

Still, the area is popular with more than just U.S. buyers who are looking for a new home or rental property. Many foreign buyers are looking to buy in the region as well, and having great properties that are so close to the water can help to accommodate all of the out of country buyers looking for vacation properties or investment properties. Right now, it seems as though it should not be too difficult to find enough buyers for the properties along Bay Harbour Islands and the surrounding communities.


Fendi Surfside

One of the most interesting trends taking place in the South Florida region is the fact that many development companies are starting to work together with luxury brands as a means to create unique, high-end condominium projects that embody the style class of those brands. One of the latest examples is the partnership between the Chateau Group and Fendi, the Italian luxury fashion house, to produce the new, ultra-luxury oceanfront complex called FENDI Chateau Residences located in Surfside, Florida.

What Is Fendi?

The Italian firm specializes in leather goods, as well as other luxury items, including fragrances, eyewear, watches, and even writing tools. They are probably most famous for their bags and other leather goods. The company has been in business since 1925, where they started in Rome as a fur and leather shop. In the decades since, they’ve grown substantially and branched out into a variety of other areas. This venture with the Chateau Group is their first foray into branded real estate.

What Is the Project?

The partners will be working on a relatively small complex, although it will certainly not be small in terms of features and luxury. The tower will have just 12 stories, and it will contain 58 units. The Fendi Chateau Residences will be in Surfside at 9365 Collins Avenue, and it will be right along the waterfront. While they have not set a firm date for completion, they hope the project will be up by June of 2016

The condos at the tower will be quite large according to information coming from the developers. They will range in size between 3,300 square feet and over 7,000 square feet for the largest units. The prices will run the gamut naturally, but even the small units will carry a luxury price tag. Current estimates for the prices are between $5 million and $22 million.

All of the units will have that unique Fendi flair though. They will include a Fendi Casa kitchen or a full chef’s kitchen that utilizes special cabinets and appliances. They will also have a number of floor plans from which to choose. The building will also offer beautiful common areas, an onsite private restaurant, a lounge area that features its own gourmet kitchen, a business center, gym, a movie theater, and more. Since the property is right along the water, they will also have cabanas. Naturally, the building will also include pools, reflective ponds, and other amenities. (CLICK HERE to visit our site for additional information regarding this project)

Another Luxury Brand Partnership

The coalition between Fendi and the Chateau Group is just one of the projects in the area with the influence of a luxury designer behind them. Recently, Armani announced that they were working with two development groups – Dezer Development and the Related Group – on a project of their own called Armani Residences in Sunny Isles Beach. This will be an oceanfront project in the heart of Sunny Isles area.

While development partnerships are nothing new, it will be interesting to see just what it is about these latest projects that really make them different, and perhaps more appealing to buyers. The fact that they are unique from other units might just be what helps them to keep selling.


Many foreigners are investing quite heavily in the South Florida region, especially in Miami condos (view home page for Miami condos here) and that’s great news for developers and agents looking to move property. Many of the buyers are from Argentina, and they’ve been a steady source of sales through much of this latest real estate boom. However, recent financial issues in Argentina have been causing many in the real estate market to wonder just how it might affect them.

The Cause…

The credit rating agency called Standard & Poor’s provides credit ratings for nations. The rating they gave to Argentina in August of 2014 was less than favorable. In fact, they were in default according to the agency because they did not make interest payments to bond holders on their debt. The restructured debt for the country is in the area of $13 billion, and this is not the first time the country missed those payments.

This is actually the eighth time in the history of the country that they’ve not been able to pay, and it is the second time since 2001 that this has happened. This is an important year to remember, as the default of 2001 caused a huge economic collapse in the country. In fact, this collapse was actually so bad that many of the people who lived in Argentina, and who had the means at the time, actually left the country for greener pastures. Many of them went to Spain and the United States. Miami was actually a popular destination.

The Effect…

What will happen this time around, and how could it affect the real estate market in the South Florida area? While it is still a bit too early to tell, there could be an impact on the economy, even though it could take several months or a year to really see and notice the changes. Hopefully, things will not be nearly as bad as they were in Argentina’s past.

While the Miami area might see some emigration from people coming from Argentina, one also has to consider the number of sales that have been coming from residents of the country over the past few years. The residents of Argentina, thanks to their interest in real estate in the South Florida area, were a huge factor in helping in the recovery from the real estate crash of seven years ago.

Reports say that in 2013, about 11% of the international buyers in Miami alone were from Argentina. They also made up a high percentage of buyers in other areas of Florida as well. If this number were to drop substantially, then it could cause a bit of a hit in the market. Realtors report that residents of Argentina accounted for nearly $6.4 billion in sales in the state a year ago.

If the economy begins struggling in Argentina, what will these buyers do? They will not necessarily be able to continue investing in Florida, as they will have other interests at home that concern them. They might simply not have the money to spend on real estate, and that is a cause for concern amongst many developers and realtors.

View Miami Real Estate Website Here


Armani Sunny Isles Condo

A number of collaborations between developers and other individuals and groups have been happening in the North Miami Beach area. One of the recent announcements put the Italian company Fendi into the real estate game, but they are certainly not the only ones to enter the field. Armani recently announced that they would be collaborating with Dezer Development and the Related Group on a project in the popular area of Sunny Isles Beach. They announced this collaboration in early July, and it already has people quite excited about what they could see from the group’s collaboration.

What Is Armani?

Armani is a fashion house based in Italy and started in 1975 by designer Giorgio Armani. They design, manufacture, and sell a number of high quality luxury products including shoes, watches, cosmetics, leather goods, eyewear, and much more. They have been working in various capacities in property for a number of years now. They have worked in collaboration with a company called Emaar Properties, who have a chain of luxury resorts and hotels. They have properties in places around the world, such as Milan, Paris, New York, London, Los Angeles, Shanghai, and Dubai.

What Is the Project?

They are working on a condominium tower called Residences by Armani/Casa in Sunny Isles. The tower on Collins Avenue, designed by Cesar Pelli, will have 60 stories and 260 units. The high-end units promise to hold quite a bit in terms of features and options for buyers, all in that distinctive and luxurious Armani style.

Giorgio Armani, the company’s founder, is very excited by the project and released a statement where he said in part, “Armani/Casa was born from my desire to see my design aesthetic at work in interior spaces. On a project like this where we have the benefit of partnering with a talented architect like Cesar Pelli, we get the opportunity to create something really very special – a remarkable living space, imbued with the spirit of modern elegance.”

The group is eager to move forward with the project, and they believe that they will have the tower up and completed sometime in 2016. While it is still early, some details have emerged regarding some of the features and amenities that buyers will be able to find within the property. They should have three floors of private cabanas, as well as an onsite spa and fitness center. They will have an oceanfront pool, a sundeck, and a full service restaurant as well. Information about what features and amenities the actual residences will have is still scarce, but more will come out soon.

People who have been following the Armani project are very excited about what it will offer and what the new tower can provide for those who make it their home. Sunny Isles Beach has been a popular area for developers for a number of years now, and this popularity is not going to wane anytime soon. The area has a lot going for it, including a near perfect location that’s right along the water.

For more information on Armani Casa Sunny Isles, please CLICK HERE


Miami preconstruction condos

Over the past couple of years, the Miami area has been going through a real estate renaissance, a real boom in the market. The sales of the units in all South Florida locations, and especially in Miami area has been quite brisk, and that led developers to building even more towers and adding more units to the market. Again, they continued, and they continue, to sell very well. In fact, there have been tens of thousands of new units proposed in the region since the boom started a couple of years ago in 2011. They’ve already sold close to 10,150 of the new proposed units just in the latest boom and they keep on selling. (view pre-construction Miami condos here)

Sales Stronger than the Past

Currently, there are 16,200 preconstruction units in the marketing and presale phase, and the number sold represents about 60% of the total. The other condos that are on the horizon and that have not yet started marketing and presales are still getting potential buyers excited, and it appears that the sales for the remaining units, and new units, will continue to go well.

One of the interesting things about the sales today is that the sellers of these preconstruction condos will generally require a number of deposits that will total about half of the overall purchase price. This is interesting because before the recession, the buyers were only required to put down a fraction of this amount – as low as 10% much of the time. This caused more buyers to put down money, although they may not have had the means to necessarily follow through and buy the home, which caused some issues, as one would imagine.

Higher Deposit Requirements Are a Good Idea

The requirement for the higher deposits makes more sense today, and it helps to keep the overall market much safer. Buyers who can pay the larger deposits have more of an interest in the property, and it tends to mean that they are economically capable of actually buying the home. Even though the construction deposits are higher today, when one looks at the demand and the excitement to buy in the area, it seems as though the higher prices have done nothing to slow down the purchases.

Reports say that 23 new condo towers going up in the area have already sold out, and that another 25 towers are reporting that they’ve sold about 90% of the units they are building. The enthusiasm is certainly still there when it comes to buying in South Florida.

How long will this boom last and how long will people still be willing to buy? While it is hard to predict exactly what will happen with the real estate market, things really are looking good in the South Florida area, and this does not look as though it will change anytime soon. The buyers still seem to be there and they still seem to be on the hunt for great properties whether they plan to live there, vacation there, or rent the units out as an investment property.

Our team specialized in Miami’s finest pre-construction condos. Please contact Lana Bell today for a consultation – (305) 336-0457


preconstruction condos miami

Many Canadians and Europeans love flying south for the winter and staying in those beautiful, warm locales that their home country simply can’t offer. While some are content simply taking a vacation and renting properties, a growing number are actually looking to buy. The interest rates are still quite low, and it does make more sense to buy a home, or a vacation home, right now. However, those who want to buy a property in Miami Florida should know a few things before they start making their purchase.

What’s the Market Like Now?

Just a couple of years ago, the real estate market was in trouble and crashing fast. It was a terrible time for all real estate owners, but, as time showed later, a great time to buy. However, not many could afford, or wanted to buy a property in a crashing market. Times have changed to exactly the opposite. Now, everyone wants to buy and regret that they didn’t buy when the market was at it’s lowest. Don’t feel bad, not many could do this from a physiological point of view. It takes guts and cold mind to buy properties in an unstable market. However, those who have done it got rewarded royally.

Today, the rates are still very low and buyers should take advantage of that, because no one knows just how long these low rates will last, and as the economy recovers, the price of homes is starting to go up along with it. After all, the price of homes generally relates to what the market can bear and tolerate. What does this mean for buyers? It means that buying sooner rather than later is likely to be a very good idea.

Florida has always been popular with the snowbirds from the northern reaches of the United States as well as Canada, and that will not change. In fact, it’s likely that more and more people will start considering buying in Florida because of the quality properties. This means that all current pre-construction condos in Miami (view here pre-construction condos Miami) could be gone sooner than potential buyers might imagine. Look at 2013 as an example of how popular Florida is. During the last year, Canadians have been buying warm climate properties in droves. California accounted for about 8% of the purchases, followed by Arizona with 24%. Florida accounted for 39%.

What Do Canadians Need to Know When Buying?

When a Canadian wants to buy a home in the U.S., the process is a bit more complicated. Therefore, it is important to work with a real estate agent, as well as a mortgage broker, insurance agent and an attorney who understands those complexities and have experience with foreign citizens. You will also need to get in touch with a tax attorney as well, who can help you to understand how the Canadian and U.S. tax laws will affect you and your purchase.

Some Canadians purchase their homes with cash, and may be better off working with RBC Banks. Again, you have to make sure that you are working with banks that have experience in foreign home purchases. Otherwise, you could run into more complications down the line.

Today, Miami pre-construction condos offer luxury, location and care-free lifestyle for vacationers as well as permanent residents. Just make sure that you align yourself with the right team to make buying the home as easy as possible for you. Also, remember that you want to start buying now, so you have the choice of the best properties!

Our team consists of highly specialized professionals including top-producing realtor Lana Bell, at attorney who specializes in foreign buyers, professional mortgage brokers and more. Call One Sotheby’s International Realty office to speak with one of our realtors, or call Lana today – (305) 336-0457.


Sunny Isles Condos for sale

Sunny Isles Beach Miami Florida is one of the most popular places in the country for those who are looking for high quality properties. The sales in the area are quite brisk and the homes are never far from the beaches, and it is just a short drive to Miami and Fort Lauderdale airports. The location, the weather, and the abundance of great properties combine to make the area one of the most sought after locations. Of course, those who are thinking about moving to the area, or buying a vacation home or investment property in Sunny Isles would probably like to know what types of housing styles are available.

Home Styles for Every Need

One of the things that most people notice is the Sunny Isles Beach skyline and the sheer number of high-rise condominium towers located right on the sand of the Atlantic ocean. It’s certainly true that the towers are some of the most prominent forms of housing in the area, however, there are also private single family homes in Sunny Isles Beach as well.

As for the styles of those single-family properties, they vary widely, even in the relatively small area of Sunny Isles called Golden Shores http://www.sunnyislesmiamirealestate.com/Sunny-Isles-Beach/Golden-Shores/(click here for Golden Shores properties for sale). Many of these residences are along the waterfront, or at least very close to it, given the layout of the island. Some of the homes are relatively simple single story affairs, while others are large, grand estates with gated entrances that look as though they would fit right in among homes in Bel Air or Beverly Hills.

While it is possible to find single-family homes in the area for different budgets, the predominant housing style is certainly the condominium. Many wonderful options are always available along the likes of Collins Ave. and Atlantic Blvd. What is it that makes them so popular?

For starters, the condominiums are in large towers of varying sizes, which means more people will be able to live on a smaller plot of land since the developers build upwards rather than outwards. This also means that people who move into the tower will have great waterfront living and ocean views. If there were only single-family properties, far fewer people would be able to enjoy the area.

The towers all have their own unique and very distinct architectural style, too. They vary in size and they can work well for just about anybody – young couples, single people, retirees, families, etc. Whether they are buying as a permanent residence or they are simply buying for a vacation property, plenty of fantastic options await. (To view Sunny Isles Condos for sale CLICK HERE)

Most of the condominiums have been built after the year of 2000 and have a very contemporary and modern style to them, with a number featuring a flow through design that keeps the space nice and open. They tend to have balconies, as well, which allows everyone to enjoy the views even more. Take the time to start exploring all of the different options available and see if you can find something that suits your aesthetic sensibilities along with your budget. In Sunny Isles, there is a property that is right for just about everyone.


Content published by Lana Bell

Content published by Lana Bell