Miami Beach Homes for sale

One of the constants in Miami as well as South Florida is that the quality of the condominiums and other properties that are available never seems to wane. However, this also means that the prices of those homes tend to rise as well. Still, as the price of the properties is rising, the number of sales is starting to slow just slightly. This tends to mean that the buyers have many more choices and they are waiting to see if they can get a better price for properties. It is starting to become a buyer’s market once again, and those who are going to be buying soon should see this as a promising sign. Plenty of homes are available in Broward, Palm Beach, and Miami-Dade counties, and those rising prices might start to slow a bit as the buyers hold off on making actual purchases.

The Numbers

Currently, the median price of a single-family home in the Miami-Dade area is up by about 8%, hitting $243,000. The median condominium price rose by an even higher percentage – 10% in that time, but it did see something of a drop in March of 2014. The sales of single-family homes in the area were up by about 5.6% from the previous year.

These changes mean that it’s becoming less of a seller’s market, as mentioned. The real estate market seems as though it is stabilizing and balancing. The same is happening in Broward County. The inventory is going up and the sales are starting to slow. In Broward, we see that the price for a home went up by 9.2% over the past year, with the median price for a home being $273,000. Condo prices rose by quite a bit more. In fact, they were up by 14.3%.

Why the Rising Price?

What is it that is causing people to raise the price of their homes? A couple of years ago, the price of homes dropped quite a bit because of the crash. Now, the economy and the real estate market are getting better and stronger. Homes have been selling briskly up until recently. This causes many sellers to feel that they can ask more for their property and that they should be able to get it. They feel that their property should get more than a home that recently sold in the area because they think their property is nicer or better.

They don’t take into account all of the other factors, including the market, that will affect the price of their home. Buyers are not biting though. They have a surplus of properties from which they can choose, and they are able to look at other options. They don’t need to spend more than they want to spend because they will find something that they love within their budget relatively soon and they know it.

The prices should start to come down, at least from those sellers who are realistic about their property and what they can reasonably get for it in the current market. Buyers just need to wait and negotiate.

For a complete list of currently available properties for sale in Dade and Broward counties, please VISIT MY WEBSITE


Miami new condos

Some people are starting to worry that we could be facing another real estate bubble in the South Florida area, but many experts feel that these fears are premature. They feel that there is still plenty of room for growth in the counties of Palm Beach, Broward, and Miami-Dade. One of the reasons for the fear is that developers in the area are already proposing a large number of additional condominium units in the area – more than 33,000 of them in fact.
Click Here To View All Pre-Construction Condos In Miami

Where Will the New Units Be?

Currently, the downtown area of Miami looks as though it will be getting approximately 17,400 units across 59 new towers. While this might seem like a substantial amount, it is important to remember that during the last boom, the area became home to 22,200 units with 84 towers. Sunny Isles, another very popular neighborhood in the area, is slated to have 14 new towers and an additional 1,800 units. During the last boom, developers created 6,200 units among 28 towers.

Because of this boom though, people fear that history could repeat itself. After the last boom, they remember the crash of 2007. While it is understandable that people want to be cautious, the world and the economy today are in a different place. It’s not nearly as likely that this type of crash will happen again. Still, caution is always smart no matter the state of the market.

What Makes This Different

Even though there might be a large number of proposed units in the pipeline, there is not the same rush as there was before. The towers and buildings are going up more slowly. Less than twenty-five percent of the proposed units is under construction right now. Many of the others are still waiting for approval. It’s important to remember that these are only proposed units. The ones that are not awaiting approval, having already cleared, will be units that go forward only when the developers can get enough presales to show that there is still an interest in the units in the area, and that they’ve already sold enough to make it viable. This means there will be no vacant towers desperately looking for owners as we’ve seen in the past.

This keeps the progress at a slower pace, which may actually be much better for the overall real estate market. It ensures that the growth does not happen too quickly, so there is far less of a chance of the bursting bubble and crash as there was seven years ago. Despite the skepticism that some have, it’s far too early to know what the market will be like in a few years. As always, buyers and sellers alike need to watch carefully in order to get an idea of where the market will be moving. Still, given the current popularity of the South Florida area from a buyer’s perspective, it does seem as though the market could be looking up for quite some time still.


Miami real estate

The price of homes located in the Miami Beach area is on the rise according to data recorded by Standard and Poor’s/Case-Shiller between March 2013 and March 2014. They showed that the prices for homes in Miami-Dade, Broward, and Palm Beach counties showed an increase of 1.6 percent between February and March during the usual seasonal adjustment. They also showed that the price of homes across the nation took a jump of about 10.3 percent over the course of the year. In South Florida, the price rose by about 16.2% in that time.

What Could the Numbers Mean?

This shows us several things. First, it shows that interest in the properties in the area is at an all time high and that the interest is still growing. It also shows that, even though the prices are rising, people are still willing to buy for several reasons. The location is great. They will be near the things they want to see and do, making it perfect for a fulltime home, a vacation home, or even an investment property.

Of course, a good location close to the water also helps when reselling, and smart buyers know that. Waterfront properties, for example, tend to gain quite a bit of interest from buyers, so being in a beach area is always a good thing for buyers.

One of the other nice things to note is that it is currently a buyer’s market in South Florida. Even though the prices of the homes are rising, and it is a good idea to act fast when you see a property that you life, there are plenty of options out there. This means that the price of the homes will still need to stay in line with what the market will bear.

South Florida Active Listings on the Rise

Listings come onto the market all the time, so buyers will always have new properties coming onto their radar. The South Florida housing inventory rose to 41,712 active listings in late may. Sales dropped just slightly from 22,000 to 22,157 over the last week, and the number of pending sales dropped by approximately 375 over the course of the month.

As you can see, there does not seem to be a shortage of properties available for those who want to buy in the South Florida area. When choosing property though, it is important to look at everything that you can in regards to the location, amenities, and features. Having a property right at the beach is a great thing, and many condominium complexes in the area have places available for buyers right now. However, buyers also need to consider the quality of the place, the size, and the price to make sure it really is a good investment. Working with a good real estate agent who has experience in the area is the best way to make sure that you are getting access to the best possible properties.

Visit the website to view all available homes for sale in Miami Beach


Miami Beach real estate

When many people think about residential real estate in Miami Beach, they immediately start thinking about all of the residential properties and condominiums that are available right on the beach. However, as plentiful as they are, residential real estate is certainly not the only game in town. Commercial property is also a big seller, as is demonstrated by two recent sales that brought in a large amount of money.

South Beach Gallery/Home of Romero Britto

Brazilian artist Romero Britto recently sold his home, which also serves as his gallery and showroom called Britto Central. The building, located at 818 Lincoln Road, has been a fixture of the area since 1935. The last time this property sold, which was in 1993, it went for $335,000. The sale price this time was $34.5 million.

The buyer was a company based in Montreal called 818 Lincoln Investments. The manager of the buying company was Danny Lavy, who also happens to be the CEO of Elite Group Inc., a company that distributes household products.

Another Lincoln Road Building Brings in the Big Bucks

Just one week after the sale of the gallery, another retail building in the area, just a short distance from Britto’s gallery, sold for, again, $34.5 million. In this deal, JSRE Acquisitions bought the 716-720 Lincoln Road property. This building was bought by a company called 718 Lincoln Owner, and there was no financing recorded.

The seller was Investment Group of Miami, who had actually owned this 7,500 square-foot property in South Beach for twenty-one years before making the sale. This building is nearly as old as the gallery, having been constructed in 1936. It is just between Forever 21 and H&M. Currently, the company that leases the property, RFK, says that the two businesses occupying the spaces in the building are Cache and American Apparel.

What Will Happen at These Sites?

It does seem quite strange that within a week of one another, two properties very close to one another would sell for the exact same price. While there is the possibility of a connection, very little is actually known at this time, and it could merely be a coincidence.

Of course, there is also the possibility that a large company, or conglomeration, could be buying up land and properties in the area as a means to begin planning a future development. Again, it’s too early to tell exactly what will happen at these sites. They could continue in their current capacity with absolutely no changes whatsoever.

Still, it should be quite interesting to watch and see what does happen, and to keep an eye on the area to see if there might be any more of these big dollar sales in the coming weeks and months. After all, it is important to keep this area of Miami Beach in mind. It has a great location that is quite popular with developers, and there is every chance that we could be seeing the very beginnings of one or more new developments.


Miami real estate

If you are extremely wealthy and have an additional $38.5 million burning a hole in your bank account, then you might be interested in purchasing the Kennedy Compound located in Palm Beach, FL. That’s right; this famed home, the Winter White House as many called it, is actually for sale right now. This property was one of the main homes of the Kennedy family from 1933 all the way up to 1995. Consider for a moment the price that the previous buyer, John K. Castle, paid for it in ’95. It only cost him $4 million. During that time the property, which was once in danger of being torn down, underwent a massive $6 million renovation.

Let’s go back a little further in time and see what Joe Kennedy paid for it in 1933. He paid just $120,000. Of course, that amount of money went a lot further then than it does today. Originally, the home, designed by famous architect Addison Minzer, was for Rodman Wanamaker, owner of a number of department stores. Wanamaker had the house for about eight years before selling it to the Kennedy family.

What Does $38.5 Million Buy You Today?

What will the lucky owner of this home have in store for him or her? The home is massive, coming in at 15,500 square feet. Originally built in 1925, the home features eleven bedrooms, as well as a tennis court and a pool. While it certainly has other features and amenities – after a $6 million renovation, it has to have quite a few amenities that will make it truly special – we know little about the property today. The current listing for the property is still a bit on the sparse side, with the brokers offering very little information on the property other than the historic nature and the great views of the ocean.

The neighbors say that the Kennedy Clan always spent quite a bit of time in Palm Beach at the compound, particularly during the holidays. They also say that up until Castle took over and completed all of those renovations, they thought the property would be a tear down, simply because it looked worse for the wear. Castle’s renovations changed all of that, and it is a shining example of Palm Beach beauty today.

Information Is Scarce

One of the reasons that the information is limited right now is because the brokers and the sellers realize what a high profile home this is. They want to draw attention to the property, but they don’t want people coming out of the woodwork to get viewings of a home they could never hope to afford! Keeping the sale a bit quieter might be a good tactic in this case. Those who can afford it surely already know about the property and have the inside information they need.

Few people in the world are able to afford a property such as this. It will be interesting to watch the saga of the property and to see who buys it next.

If you’re on the market to buy luxury property in Miami please contact Lana Bell at One Sotheby’s International Realty today!


N. Bay Road Miami Beach House

Miami has a rich and unique relationship with the big screen and Hollywood, which dates back decades upon decades. Not only is southern Florida’s most bustling metropolis famous the world over thanks to films like the 1924 silent classic “Miami”, the hit TV show “Dexter”, and both the TV and film versions of “Miami Vice”, but Hollywood literally comes to Miami on a regular basis. And when it does, it brings its revenue with it.

Let’s take a look at the breakdown of how the film industry affects Miami’s economy. We’ll go from smaller numbers to larger ones. You may be familiar with some of these figures, but others may surprise you in a big way.

Miami and the Oscars

Quite a few very important scenes in “The Godfather: Part II” were filmed in the Miami area, bringing a lot of attention to our fair city. When the film won 6 Oscars, it brought even more attention. Movie tourism is a very real and powerful thing. When films show off a city, fans want to visit, especially when those films show off how beautiful the city is and how many glorious beaches are within easy driving distance.

The Miami Entertainment Complex

This 70,000 square-foot municipally owned production complex is the brainchild of the brilliant staff at Miami’s own Omni Community Redevelopment Agency. The complex will feature two 10,000+ square-foot sound stages with 50-foot ceilings, gaming and 3D animation suites, a digital imaging motion capture studio, and tens of thousands of square feet of offices and storage.

Celebrities in Residence

Matt Damon isn’t the only celebrity homeowner in Miami, but his North Bay Road house complted in Mediterranean Revival style, is a great example. The Oscar-winning star’s house has a list price of over $18.99 million. With money like that pouring into Miami Beach real estate, we’re sure to see property values all over the city on the rise.

Employment Opportunities

There are approximately 100,000 film professionals living in Florida. Over the past 3 years, the film industry has brought $658 million into the state to pay their wages alone. That doesn’t even count other expenses, like rental properties and other filming essentials. With the film industry employing this many people in the area, Miami has been booming.

Overall Economic Impact

Speaking of “other filming essentials”, it’s been estimated that the film industry has brought over $1 billion into the local economy. That means more money is being pumped into real estate, local retail stores, the service industry, etc., all over the city and the rest of Florida.

The Appeal of Tourism

As we’ve discussed, all of these amazing benefits that the film and entertainment industry has had on Miami, we haven’t even touched on tourism. Tourism, spurred on by Miami’s appearances in so many films and TV shows, is expected to bring in somewhere between $1.6 and $5.9 billion in the next 3 years, alone. That means more business for local stores and restaurants, as well as hotels and resorts.

The film industry has already impacted Miami in a hugely positive way. We’re excited to see how it helps our beautiful city grow and develop.


Miami condos for sale

Sunny Isles Beach has a reputation for new oceanfront luxury high-rise condominium community of the 21st Century and, in that regard, it seldom disappoints. Sunny Isles Beach real estate (click here to view the site) as well as other parts of Miami presents one of the most attractive luxury real estate markets in the world. In fact, it is so attractive that it brings people from all over the world and, in part, that is what inspires me to be a real estate broker in this affluent, diverse and exciting real estate market.

ONE Sotheby’s International Realty is of the most prestigious real estate firm in the world and speaks directly to the market for luxury properties. To offer better service, I am a Certified Luxury Home Marketing Specialist and a negotiating expert, which gives me the necessary knowledge to help clients meet their goals with their property purchases, which is one of the things that truly makes working in real estate worthwhile. A property is so much more than another acquisition. While a property can be a great investment, at some level, it is always a home and helping clients to find exactly the property they wish to call their own is incredibly motivating.

A Great Market

The Florida real estate market is definitely heating up again, according to multiple sources, including the http://www.miamiherald.com/business/real-estate/ Miami Herald. There are great opportunities for people to make investments in this market, and with people from all over the world being attracted to Miami real estate, I’m able to take advantage of my global connections, the resources I have at my fingertips and my expertise in this market to help people find exactly the properties they want. Ideally, I’m able to bring together the perfect property and the investor who will appreciate it for what it is and be able to turn it into something that is uniquely their own.

Diversity

I have a staff of 20 expert agents who understand the cultures of people to whom we sell and who speak the native language of the buyers. That includes people who speak fluent Russian, Portuguese, Chinese, Hebrew, French, Spanish, Italian, German and Swiss. With a great deal of cultural knowledge and the ability to speak to people in their own languages, we are able to make certain that the investments that international buyers are making in the Miami areas is understood to the greatest degree of detail and that buyers can proceed with confidence when they find a property that they want.

The Deal

Of course, completing a real estate deal means more than being aware of the culture of your client and being able to speak the language. The language of real estate itself is something that requires skill to understand and I endeavor to make certain that my clients always get the best deal. That means that I leverage my knowledge of the local real estate market to enable my clients to take advantage of the best possible timing to make their deal and that I bring to the table the negotiating skills that I have developed over many years as a broker.

Above all other things, I find inspiration in helping my clients. As this testimonial reveals, I do everything I can to give my clients the best possible experience and the best possible investment.

“We had a fantastic experience working with you. We’ve never felt any pressure at any time and your experience and in-depth knowledge of the building as well as the local real estate market, made us believers. We couldn’t be happier at Turnberry Ocean Colony. You’ve been a pleasure to work with and a bright spot during this delightful process.”
-Evan Y.


Miami commercial real estate

A $225 million transaction in Pembroke topped the multifamily stats for this year. The sale was for a 1520-unit community known as the Resort at Pembroke Pines. The sale was completed by the Carroll Organization, out of Atlanta.

Although the property was a bit rundown and outdated, the Carroll group developers were still interested in picking up this apartment complex, despite the fact that it is not quite as modern or stocked with amenities as newer complexes. This demonstrates that investors are interested in apartment complexes that already exist, rather than just having an interest in developing new apartment complexes.

Lower The Risk

According to reports, the prices of land in Florida have been going up and the costs of development have been going up, but growth as far as rental income goes is slowing. This means that, for developers, there is less risk involved in purchasing existing properties than there is in developing new properties, a process which can take two or three years to complete. The reporting states that, of course, in two or three years, the market can be remarkably different than it is at the time the development starts, adding an element of risk to the investment.

Stabilizing Market

While growth in the Miami commercial real estate market may be picking up, economic indicators show that the typical cycle of booming and busting in the South Florida real estate market may be between 7 and 12 years. With investors moving in from all over the world – Latin America, Russia, Europe, etc. it has proven to be particularly rich with people looking to make investments in South Florida real estate – real estate prices have largely stabilized and luxury properties are selling well again.

What’s Out There

South Florida may be principally known for its very high-end, upscale luxury real estate properties, but there are still many distressed properties on the market and, as this transaction shows, properties that may be a little bit outdated, but that could become very attractive provided they were given a bit of renovation. For some commercial real estate developers, it’s more attractive to invest in a property such as these, simply because they do not have to go through the development process or take on any of the extra risk associated with that process.

As the South Florida real estate market continues to grow, there are likely to be many very attractive deals that come available on the market, but it generally requires a skilled real estate agent for clients to be able to take advantage of these properties. We provide a list of Miami’s most expensive condos and Miami’s most expensive homes for sale and give forecasts about the market in general, both of which should be of great interest to individuals looking to invest in the luxury properties available in a South Florida market or, in fact, some of the older properties that could be very good investments with a little bit of redevelopment.


Miami Beach condos

Miami Beach

is one of the most popular places to live for people looking for condominium properties. According to The Real Deal, Miami Beach real estate has been selling at a very fast rate. At the same time that sales have picked up, the rate of price appreciation has slowed, making the condominiums more accessible to people and ensuring that the market remains attractive to new investors.

The Perception

The numbers show that investors still see Miami Beach as a great place to buy real estate for value. This is the case, even though the prices of real estate have gone up over the last four years. According to the numbers, that hasn’t slowed interest in properties and, in fact, with prices appreciating more slowly, it is possible that more people will be looking into property in this area and Miami Beach has already proven to be attractive to people from all over the world looking for great property.

According to the article, the sales for condominiums went up 21% from August 2012 to August 2013. Single-family homes saw even more activity, with the closed transactions for single-family homes going up 38% between August 31 of 2012 and August 31 of 2013. That impressive rate of growth, according to the reporting, really does show that people are very interested in Miami real estate.

Where Are They Coming From?

Miami real estate has always been popular with affluent individuals. What’s notable about the situation right now is that Miami real estate is attracting people from all over the world, not just the United States.

This year, French buyers have become a very strong force on the market, as have buyers from Canada. Experts believe that the French buyers are, to a great extent, motivated by the fact that the taxes on wealthy individuals are much lower in Miami than they are in France. Canadian buyers, of course, are, at least in part, looking at Miami real estate because of the very enjoyable climate that it offers.

The highest average price paid for condominium properties went to Apogee in the South of Fifth neighborhood, according to the reporting. This condominium sold for an average of $2371 per square foot.

Luxury properties located in Miami Beach and surrounding areas, such as Sunny Isles Beach, Bal Harbour and other areas known for affluence and great properties are moving quickly and having a good realtor is vital.

In the Miami Beach real estate market, there is most certainly competition for good properties. Being able to find the right property for your family is the first step in calling Miami Beach your home. With experience and the ability to work with people from all over the world, a good Miami Beach realtor will be able to find exactly the property that you are looking for, whether it happens to be a condominium or another type of property, and ensure that you get the best possible deal on the property.


South Beach homes for sale

Miami Beach villa for sale

Yesterday in a closed-bid auction Nakash family of Jordache jeans bought the Versace mansion, putting in the highest bid of $41.5 million. The house was sold with all the furnishings, stain glass and mosaic arranged in the eccentric, baroque style of Versace. Features include a 24-karat gold-lined swimming pool and a guest suite fitted out for once frequent visitor Madonna. The new owners plan to convert the palatial Mediterranean-style estate into a hotel with Versace name.

“We bought history,” a visibly pleased Joe Nakash, the chairman of Jordache Enterprises, told reporters on the steps of the mansion, dismissing the possibility of a massive renovation or teardown. “We paid $41.5 million for it and it’s going to stay as it is,” he said, adding that he will approach the Versace family about licensing the name.

The Miami Beach villa

was originally listed for $125 million but went on the auction block after lenders foreclosed on owner Peter Loftin. Despite a worldwide marketing campaign, the estate of the late fashion designer Gianni Versace netted only three bidders — Donald Trump, who is redeveloping an 800-acre golf course in Doral; Palm Beach Polo and Country Club owner Glenn Straub; and VM South Beach, owned by the Nakash family of Jordache jeans fame.

The requirements of the auctioneer, Miami-based Fisher Auction Co., were a $3 million deposit placed in escrow and proof of at least $40 million in liquid assets. VM South Beach is the chief creditor in the foreclosure case. As such, the family took advantage of an option to make a stalking horse bid of $25 million, and were able to bid up to $34 million without putting up any additional cash based on what a court says they are owed.

The most famous South Beach mansion for sale asking price was reduced twice from it’s original $125M before parties agreed to an auction in July after the tenant, Miami restauranteur Barton G. Weiss, successfully sued to break his lease.


Content published by Lana Bell

Content published by Lana Bell