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Miami Beach Blog

Wednesday, September 18, 2013

In the past year the housing market has made considerable gains, aiding in the economic recovery in a noticeable way. Governmental buyer incentives such as tax measures and historically low interest rates made it a favorable buying climate and sellers began seeing the values of their homes increasing in the face of both domestic and international demand. Mortgage rates have inched up and home prices are way up. Inventories are depressed, which led to the increase in housing costs. Both buyers and sellers are adjusting to these conditions and here are some factors to consider.

Affordability. According to Experts sales increase then prices increase, watching the rate of acceleration of price is a good indicator of whether the affordability will decline. Prices are up by double digit percentage points and it is estimated that prices will stabilize, especially in light of much new construction.

Shrunken Inventory. There is a noticeable shortage in national inventory and this is particularly true in the Miami market. Sales will be slower since there is little inventory and homes will be artificially inflated. This should even out given the fact that there are so many new developments in Miami. It will be worth watching the home prices, and how they will be affected by the condo prices.

Investor to Home Owner. Many investors purchase while the cash is still king and prices are low, however as prices increase, home buyers using financing will take over. This is not the case yet, given inventory and relative affordability of homes, but it will be important to consider the type of buyer that is purchasing at a particular point in time.

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Tuesday, September 17, 2013

The Versace Mansion was auctioned this morning and featched $41.5 million from a corporation that included New York’s Nakash family, who own the Victor Hotel, next door to the historic estate. Since they own the Victor Hotel along with the Gindi family, there was a very clear motive in purchasing the property. The ten bed, 11 bath estate was originally listed at $125 million last year. The second highest bidder was Donald Trump, who bid $41 million. Other bidders included the Palm Beach Polo Club owner Glenn Straub. The property’s last owner was Peter Loftin, who acquired the property in 2000 for $19 million. According to records the property may be used for both residential or commercial business. Most recently, it was known as The Villa by Barton G, which was a restaurant and 10 room boutique hotel. Exciting news for Miami Beach real estate!

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Monday, September 16, 2013

Famed architect in the 1930s in Miami Beach, Maurice Fatio put his signature style on a number of homes in South Florida. One such home is listed on the market in Allison Island. Villa Elena was restored in 2006, and is a perfect example of Mediterranean design in Miami. The home has 135 feet of waterfront, and has a Jack Nicklaus designed putting green within the compound. The lot is enourmous over 29,000 square feet and the home has every modern amenity the luxury buyer could desire, in a refined style. The home is 6 beds and 6.5 baths within over 6,300 square feet. The pool and spa are completely resurfaced and the landscaping is expertly maintained. Rooms are spacious and all bedrooms face the water. This listing can be yours for just $12.9 million.

Allison Island is a man made island in the north of Miami Beach. All homes are waterfront and it is secured 24 hours a day by guards. It holds some of the most historic and stunning homes in Miami. It is conveniently located minutes from La Gorce Country Club and 15 minutes from the Miami International Airport. Premier shopping is available 10 minutes away in Bal Harbour and a variety of small restaurants are in the neighborhood. South Beach is just ten minutes away, if you are looking for more excitement and the beach is in walking distance. For more information on this listing and others in Allison Island, contact us today!

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Friday, September 13, 2013

Fisher Island holds some of the most history in Miami. Celebrities, financiers, and the elite have vacationed here and retire here for decades. It is a private island to the South of Miami Beach and is accessible only by ferry. It is really its’ own town and there is no need to leave. It has its’ own primary school system, casual and gourmet dining, and boutiques. The island has its own golf course and tennis club, with plenty of secluded beaches. It allows members that are non residents at its’ club and has a ful service country club on the grounds. In terms of what is available on the market, there are smaller luxury condominiums for those looking to downsize up to incredible penthouses. Ideally situated with access to Downtown Miami and the Miami International Airport, you can live on a private island that’s minutes from South Beach.

Out featured property is a penthouse of colossal proportions. Residence 5302 Fisher Island Drive is a unique skyhome with every possible amenity and upgrade. It is listed at $7.395 Million and is over 7,000 square feet. The home has 5 bedrooms, 4 bathrooms, and 2 half baths. Every finish in this home is custom and has incredible importated woodwork and stunning marble floors. Gold leaf features prominently in many of the rooms and it has incredible ocean views from nearly every room. There are 4 garage spaces and 2 golf cart spaces. This is a truly stunning home, for more information please contact us for more information on this home and others in Fisher Island.

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Thursday, September 12, 2013

Pinterest is not just a fad, it is a valuable tool when searching for a home or decorating a home. It is a way to organize your thoughts and likes and dislikes and you can share this with your realtor as a tool in your search. We would like to offer some suggestions in making pinterest work for your home search and decorating. First, you create your pinterest account. Next, start making boards. We suggest two boards to start, an interior design board, and a home board. Now everytime you see a home that you like, pin it! After you pin it, share the board with your realtor. This can be fun and interesting way to communicate with your realtor what you are looking for.

Pinning for interior design or renovations? Start a board and begin searching concepts that you like whether they are in kitchens or baths or anywhere in between. You can also use pinterest in your search for designers. Enter the search term or your city and design, and chances are you will have a designer who already has a board of their work that you can peruse, before you begin. Using their pins, you can populate your board according to projects that you liked, and projects that are appealing to you. As you build your board, share your board with the designer of choice or your contractor depending on the project. Pictures speak a thousand words, and Pinterest organizes you pictures. Happy Pinning!

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Monday, September 09, 2013

Star Island is one of the man made islands that comprise Miami Beach. It is located equidistant from South Beach and Downtown Miami, which have made it desirable amongst the most elite real estate buyers. Celebrities, financiers, and CEO’s are found in this elite island neighborhood and homes start in the tens of thousands of dollars. Its’ proximity to South Beach and Downtown Miami make it ideal for those working and playing, and the views from the homes are stunning on either the north, south, east, or west sides. The Miami International Airport is a mere 15 minute drive on the 395 and the delights of Bal Harbour and Design District are also close by. Living on Star Island is the ultimate statement in Miami Beach and our featured listing stands out amongst the rest of the homes for its’ modernity and new finishes.

30 Star Island Drive was completed just this year and it is in the very modern Miami style complete with all the amenities of a luxury hotel, let alone a home. It is 16,000 square feet, and holds 11 bedrooms, 11 baths, and 4 half baths. It also has a guest home or staff quarters and 4 car garage. The interior is minimalist, while comfortable and it has a western exposure with many windows to view the Miami Skyline and stunning sunsets. With a theatre room, gym, two pools, indoor and outdoor kitchen, 1800 square foot master quarters, and elevator, there is little to be desired in this property. It is listed at $35 million. For more information on this property and others on Star Island, contact us today.

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