Real Estate

More sales and more listings: Miami Dade Real Estate market is growing

Posted on by gzirealestate in Miami Real Estate News Leave a comment

According to the Miami Association of Realtors, the times are looking good for both potential buyers and those looking to sell their property in Miami- Dade. With more sales and listings, a significant activation period has begun.

Property values for residential homes in Miami on the rise

Doral Real Estate Miami

Both Single-family units as well as condos sale are thriving. The sales continue to go up at an increasing speed when compared to 2012. In addition, the number of homes in financial trouble is going down, including those in foreclosure. This past August was a good month for both property values and sales.

According to both Miami Association of Realtors and MLS, South Florida has seen sales going up, and especially with closing price tags extremely close to initial asking prices. The amount of single-family homes sold went up 15% from 1051 last year to 1210. Moreover, condos sales also went up but at a slower rate, 7.9%

In addition, price tags on single-family homes went up 20.5%, and 2.2% compared to previous months. For the past 26 months condo sales have gone up consistently, achieving today a total 27.5% increase and a 5.5% increase compared to the figures this past summer.

Miami sees a decline in forecloruses

The success in the current market is also proved by the decreasing number is foreclosure homes. Recently in Miami Dade County, the number of homes at financial risk has gone down significantly and surprisingly. This past august only 36% of homes sold were in financial troubles, including foreclosures and short sales, compared to 45% in 2012.

In addition, property values for both single family homes and condos sold in foreclosure also went up, with a 19.7% rise for single family homes and 24.7% for condos.

Miami Real Estate is almost SOLD OUT

The boom in the market causes properties to fly away off the market. Properties are selling quickly at a prices very close to initial asking prices. In the month of August 2013, single-family homes were an average of 35 days on market before selling, and condos came in close at 46 days. Also, selling prices of single-family homes came at 96.2% of initial asking prices, and condos slightly higher at 97.2%
Urban Miami
Most definitely, more listings are needed in order to fulfill demands in the market. Active listings at the end of august went up 3.1% compared to 2012. In spite of the increase in properties listed, the demand is not fulfilled. More new properties on the market are needed to satisfy these new demands.

As the market continues to blossom pre constructions are more prevalent than ever to meet our consumer needs.


One Mansion, many lives: the former Versace Mansion bought to become retail spot.

Posted on by gzirealestate in Miami Real Estate News Leave a comment
Versace mansion david

There aren’t many 23,000-square-foot, 10-bedroom mansions waiting around to be converted into Apple stores or Victoria Secret locations. Thus, the Versace Mansion is a high commodity and may become a spectacular retail spot on Ocean Drive.

The former home of Versace on Ocean Dr. could be the hippest, coolest new retail space on the beach. Possibly, it will house an Apple store and Victoria Secret. In a time where recycling re-vitalizing has become part of many industries (the fashion industry with hipsters and vintage clothing, interior design with 70s vinyl’s, etc.) it might not be surprising that the iconic Versace Mansion on Miami Beach is being discussed as the next Apple fanatic it stop. Imagine the line of people waiting for their new IPhone, IPad or any other Apple product on the steps of the notorious icon of South Beach!

Jordache Jeans’ investment office won the bid at the auction with an offer of over 41 million dollars, saving the estate from bankruptcy. Even though originally the idea was to continue the life of the Versace brand and legacy (converting the place into a boutique hotel), this was prevented by family rights. Nevertheless, the location assures the project to become a spectacular retail location. The competitors at the bid were Donald Trump (who is also on the venture of renovating the Doral golf course) and Glenn Straub (Palm Beach club owner).

The Nakash brothers began the empire in 1969 with a jeans store in New York City. Today they provide denim for Gap, Levi’s, and Abercrombie. Over the decades the empire has expanded. The family has been making ideas into reality with their substantial financial ability. Considered a “billion-dollar empire,” they have purchased the Santa Monica Apply Store for 60 million, the Bond Building in Washington DC. priced fom over 100 million, and the Port of Eilat in Israel for 105 million.

Versace Mansion Store

Why Apple? Perhaps because of their ability to convert spaces and construct homes to their stores that pick up the local flare. As a creative company, there is an expectation that they will add something extra to the real estate. In an attempt to blend the old and the new, Apple might just be the candidate for the job.

Versace Mansion

However, locals have been presenting their case. This retail monster is seen my some as a mockery of south Florida history. Casa Casuarina, the original name of the property, has stood in South Beach long before the time of Versace. It was a 1930s residency of artist part of The Amsterdam Place. Only later, the fashion designer fell in love with the property and renovated it.

Miami Mansions

The property is simply amazing and speaks top the culture and history of the area. The three-story villa has been so far protected from demolition (and alterations in its exterior). The interior of the villa, however, are not protected, implying that the newcomers could potentially tore down the luxury detail added by the designer, mosaic pool, ceiling frescoes, and others.

Jordache’s has promised not to make any structural changes to the landmark and include a plaque in remembrance of the designer’s death in 1997. We have to wait and see…


French are Top Buyers of Miami Real Estate

Posted on by gzirealestate in Miami Real Estate News Leave a comment

Downtown Miami Condos
Miami’s striking blue water, luxurious architecture, and vibrant community have caught for decades now the eyes of international investors. The Miami real estate market has had a history of attracting a diverse pool of international buyers. With South America straight at the top, Miami has had a history of various types of buyers and investors. Countries such as Brazil, Venezuela, Argentina, and the UK have been friendly to the market. A new player is now stepping into the South Florida market. Trends indicate that the French stand now amongst the growing buyers of the market. The expansion of French buyers is most definitely positive and exciting or Miami sellers and realtors.

A welcoming bonjour to all French investors in Miami

miami beach condos
Miami Real Estate News

As of April of 2013, France was the country which most searched for Miami real estate on Miamire.com, the Miami Association of Realtors Web site (right after the US, in the first place). This could have its origin in the extreme taxes France imposes on the wealthy.

Most significantly, the strengthening of the real estate market in most cases has been a consequence of the international efforts between cities and countries, which leads in return in economic expansion and increasing demand for real estate. Because of this outreach, Miami has become a more attractive investment for the French, who are ranking above all other European countries. Already since 2012, French buyers have been active in the New York City market. Now they are looking a little south.

Perhaps it also has to do with the fact that ever since 2005, the City of Miami has been present at every Paris expo, and has also signed an agreement with the real estate association in Paris, FNAIM. In addition, Miami has participated at the Salon National de l’Immobilier conference and has also made efforts to associate to Haute-Garonne and the French Riviera.

Real Estate Growth due to Foreign Investors Seeking New Markets Abroad

Similar to the Canadian investors, the French buying in Miami are interested in out beautiful weather, sunshine, convenient air traffic, and frequent flights, and the strong rental market in Miami. The absence of state income tax is not a minor detail. For those French investors escaping high taxes in their native country, the opportunity to invest in Miami seems ever more appealing (the relatively new 75% income tax on the rich has not been a hit as we know).

homes in miami

Most international buyers in Miami real estate are cash buyers. The French buying in the South Florida market belong to this group of buyers who bypass the lending options and do all cash deals.

Another surprise has been Belgium, which for the first time has appeared within the top 20 countries searching on Miamire.com. Even beyond France and Belgium, it seems to b the case that the real estate market in Miami is diversifying and establishing itself as a prominently international pool. More so than other cities in the US, Miami is positioning as an open and inclusive community, with a wide range of investments for both residents and those who wish to benefit from the great rental possibilities.

In the meanwhile, Brazil and Argentina, who were some of the strongest international buyers in real estate in Miami, have slowed down whereas Venezuela and Colombia have gained significant force once again.


Miami Beach

Posted on by Pablo Rainer in Miami Communities Leave a comment

Miami Beach Real EstateLiving in Miami, its sometimes easy to lose sight of all our beautiful city has to offer. When you need a quick vacation, don’t forget that South Beach is close to home. While others need to travel the world over to visit the clear blue waters and unique art deco landscape, we can simply take a weekend to rejuvenate in our own backyard! Here’s how to make the most of your weekend South Beach get-away. The best time for locals to visit is off-season, May through August. You can get great rates
at this time, and the streets and restaurants are quieter. Spring break weeks are the worst time for locals to visit, in March
and April.

Your best bet for tonight after checking into your hotel is dinner and people-watching on Lincoln Road. Full of stores,boutiques, art galleries, and museums, seven blocks of this ten-block mall have been closed to auto traffic. The unique atmosphere lends to some interesting people showing up, and you never know who you may see!

Most restaurants offer outdoor seating so you can enjoy the ambience and beautiful weather. Whether you feel like
Italian (TiramesU Restaurant, Da Leo Trattoria), Cuban (Yuca Restaurant), New World (Pacific Time), or a blues cafe (Van Dyke Cafe), you can find it here on Lincoln Road! Spend the rest of the evening here so you can be refreshed for a full day tomorrow.

You’ll want to wake up early on Saturday to make the most of your day. Most hotels offer continental or full breakfasts, or you can make your way to Ocean Drive to one of the many restaurants open for breakfast.
The News Cafe (800 Ocean Drive) is a popular early-morning hangout. Breakfast is served 24 hours a day, making it also a very popular place for late-night munchies! Get a paper, magazine or book from the store and enjoy your meal outside.


Bay Harbor Islands

Posted on by Pablo Rainer in Miami Communities Leave a comment

Bay Harbor Island homes are located on both Bay Harbor Islands. The westerly island of Bay Harbor Islands is exclusively single family homes. This exclusivity makes gives this community a slightly higher demand. Those seeking Bay Harbor homes can find every kind of style, design and size home available. Mediterranean-style homes are popular on the island as are Old Florida-style homes which are popular throughout South Florida. Bay Harbor Island homes typically have spacious lots with lush vegetation. This really emphasizes the tropical island experience all Bay Harbor Island residents experience.

Bay Harbor Island homes range from three-bedroom villas further island to nine-bedroom coastal homes. Bay Harbor Islands offer a large amount of waterfront homes that goes beyond just the bayfront experience. Bay Harbor Islands are separated by a small intracoastal waterway that provides even more waterfront homes that have high levels of luxury and privacy. Bay Harbor Island homes are available on a majority of both islands, however, part of the easterly island has waterfront condos. Bay Harbor Island homes are located around these condos but for the most part the easterly island’s southern region is exclusively waterfront condos.
Given their name for being located in Biscayne Bay, Bay Harbor Islands have as close to a perfect location as possible. Connected by the Broad Causeway Bridge, Bay Harbor Islands are centrally located between the barrier island of Miami Beach and the Miami mainland. Bay Harbor Islands are close to other luxurious residential communities like Indian Creek Country Club, Bal Habour, Surfside and North Beach in Miami Beach. The area Bay Harbor Islands are located in is steeped in luxury. There are several golf courses within short driving distance from the island and coastal areas are aplenty. Though Bay Harbor Islands seem secluded they are separated from the barrier island of Miami Beach by a small intracoastal waterway which gives them easy access to the islands many attractions.

The east Island of Bay Harbor Islands, Florida, contains the largest, most intense collection of Miami Mid-Century Moden (MiMO) buildings in the world. I learned this 2002 when I moved there , attracted by the town’s comfortable , pedestrian-oriented style. As interior designer and resident Teri D’amico gave me a tour of my new neighborhood , she pointed out the special features of those wonderful structures and mentioned a few architects familiar to me from the .
Art Deco Historic District of South Beach, just seven miles away. Some of those architects had transitioned from the Art Deco genre of the 1930s to MiMO at mid-century.

KENT HARRISON ROBBINS MIAMI – DADE HISTORIC NEIGHBORHOOD
PRESERVATION COALITION,INC.

Mostly modest in scale and scope but no less compelling and fun to look at, these buildings were created during some of the happiest times in America’s history, a prosperous postwar moment when anything seemed possible and the resulting architecture embodied that enthusiasm and joy.
Large or small, understated or embellished, these structures are considerate of the environment, the view, and each other. More than just tangible, whimsical expression of a bygone era, they are persuasive reminders that a sun-soaked life in Florida, surrounded by soothing water and manicured landscapes, should be celebrated on a daily basis.