Buying opportunities for Miami Beach real estate are available in droves as prices continue to head south. It’s long been said that now is the best time to purchase a home for any who can financially do so yet some people continue to hold off on taking that next step towards becoming a homeowner. Perhaps renting may act as a temporary solution before exploring homeownership. It’s no secret that owning Miami Beach real estate requires lots of money upfront, something that’s largely avoided when the only money upfront that’s necessary is the security deposit on a rental property. A larger rental home can also be obtained for less than what one would pay for owning a home. Choosing to rent also means less cash that needs to be used to pay for a mortgage, something that is itself difficult ... 05/18/2009

The overwhelming concensus remains: now is the time to buy.  In fact, we are in a buyer's market unlike any other many of us will see in our lifetime.  South Florida has seen a steady increase in sales since Fall 2008.  This upward trend is mostly attibuted to historically low interest rates, the Federal First-Time Home Buyer Tax Credit, seller incentives and affordability. The following figures represent all of Miami-Dade county.  Statistics for individual communities including Miami Beach are available upon request - please email bria.toulemonde@floridamoves.com   MIAMI DADE COUNTY APRIL 2009 PRICE ANALYSIS - SOLD INVENTORY 57% of condos sold for $149,999 or less 71% of condos sold in April were purchased for $199,999 or less 43% of single family homes sold for $149,999 or less 62% of... 05/18/2009

Hello Folks, Took a little trip over to Miami to check out South Beach an the Fairchild Tropical Botanical Garden. Weather was very nice, sunny skies and a cool breeze which made the day quite comfortable. Started off the day at the Botanical Garden which is located in the Coral Gables area of Miami. The Tropical Botanical Garden was a nice place, but not quite what I was expecting. Many exotic plants AND animals. The Botanical Garden is loaded full of Iguanas and other unusual reptiles. The photo abaove is of a Green Iguana and the one below is from an unknown Lizard which is Native to Africa. Below Lizard is Yellow, Blue Body and striped tail.Quite Unusual. ****Update ... The Lizard below is an African Redheaded Agama ****This full grown adult is roughy 12 inches long.   Below are pic... 05/17/2009

The South Beach Condo Index is comprised of nine buildings in the SoFi neighborhood in South Beach.  These nine condo represent some of the most luxurious, prestigious, and expensive Miami Beach real estate. In total there are 2,110 Miami Beach condos in the index.  In the first quarter of this year, there were only 18 units sold.   Miami Beach Real Estate Stats for South Beach Condos Here you can see the list price vs sale price for the first quarter of this year.  Because I have been doing these stats for so long, I quickly notice that the sold/$psf is decreasing.  The chart below compares sold/$psf for 2008 to 2009.   Condo 2008 1st Qt. '09 Apogee $1354 $1209 Continuum I $1074 $856 Continuum II $929 $875 ICON $724 $533 Murano $829 $1175 Murano Grande $638 $500 Portofino $676 $500 S. ... 05/13/2009

The number of South Florida residential properties available for resale fell by 1.1 percent in the last week while the number of pending sales in the tri-county region jumped by 2 percent, according to a new report from Condo Vultures® LLC.There are now 86,812 single-family houses, townhouses, and condominium units for resale as of May 11, down from 87,793 residential properties on May 4. Pending sales in the tri-county South Florida region of Miami-Dade, Broward, and Palm Beach counties totaled 14,679 on May 11 compared to 14,397 properties on May 4, according to the report based on Florida Association of Realtors data."Palm Beach County experienced a 2.6 percent jump in pending sales in the last week, which outpaced the 2.2 percent rise in Broward County and 1.5 percent increase in Mi... 05/12/2009

If you’re looking for variety, Miami Beach homes are available in a mind boggling array of prices, sizes and location. There are homes that are near popular Ocean Drive, condos by the beachfront and private communities on one of Miami Beach’s several island neighborhoods. Allison Island is one of these island neighborhoods where you’ll find the Miami Beach homes better known as AQUA. This community is recognized for its distinct design that features copious use of bright color schemes designed to reinforce Miami Beach’s contemporary allure and trendy Art Deco style. The community itself has walking paths, original art installations, a park and tons of nature. Residents of AQUA get to enjoy stylish homes that boast features like wraparound balconies and designer fixtures. Positioned righ... 05/11/2009

There is an enormous variety of Miami Beach condos available for sale in the city of the same name and they each have their own qualities that separate from the rest. There’s a good chance however that most contemporary condos owe at least some aspect of their design to the Bath Club, a classic residential building that’s been around since the 1920s yet maintains all of the modern features seen in newer condo buildings. More than fifty years later, Bath Club still manages to offer something that all of the other Miami Beach condos don’t. There are the standard features like a swimming pool, valet and concierge and then there are the more unique features. The gourmet market, the newsstand and the ballroom give Bath Club its own style and flair and reinforce the building’s continued deman... 05/11/2009

Is the so-called “dead” housing market in South Florida necessarily a bad thing? On the one hand, a drop in new housing construction can be construed as there being little to no activity going on in the Miami Beach condos market. But then again, wasn’t this surge in housing one of the [many] reasons that lead to the housing market woes in the first place? New housing projects were few towards the beginning of 2009, a factor that has many people saying the market is essentially “dead”. However, this drop is also seen as a sort of blessing in disguise. A drop in housing starts allows more people—namely first time buyers—to purchase the excess of Miami Beach condos up for sale on an already overcrowded market. Such a situation does have its drawbacks, specifically the drop in employment as... 05/11/2009

Enjoy premier golfing while residing in the most luxurious Miami Beach island neighborhood called Fisher Island. There are quite a few condos in Fisher Island but some stick out more than others. Bayview condo in Fisher Island offers beautiful, lush landscaping and incredible amenities and residential features. Besides the pro-level golf course, Bayview residents can also experience additional sporting activities by heading to the Bayview condo’s tennis courts or swimming in the luxurious community swimming pools. Twenty-four hour gated security and on-site restaurant and bar enhance Bayview living’s luxury and tranquility. A unique offer from Bayview condos includes their five bedroom units that provide a level of space and privacy one would expect from a single family home. These suit... 05/11/2009

Fisher Island residents experience a standard of privacy that is unparalleled. The Harborview condo enhances that quality by allowing only five residents in each of its four buildings therefore increasing the enviable luxury already provided to those who can afford one of the island’s priciest properties. The Harborview condo residents share a luxurious swimming pool and a relaxing Jacuzzi that is brilliantly placed by the Atlantic Ocean. Residents also have boat docks, large storage rooms, and reserved parking spaces for each of its luxurious units. Each Harborview units has three bedrooms with three and half bathrooms and over 2,000 square feet of living space. The luxurious penthouses also include marble bathrooms, vaulted ceilings and a Jacuzzi deck along with many additional reside... 05/11/2009

Another Fisher Island condo with amazing waterfront views in an already high-end, exclusive and extremely private community is Seaside Villas. This Fisher Island condo is another superb option if you’re looking for an all inclusive luxury condo and townhouse option that allows for the privilege of living in this famously luxurious island community. For those who enjoy constantly travel or use Miami as their ideal vacation spot, Seaside Villas condo in Fisher Island offers a hotel program allowing owners to rent their units out while they’reunoccupied. This is a wonderful way to make some extra money and allow others to experience the wonderful lifestyle of Fisher Island. Amenities for Fisher Island include heated swimming pools, luxurious saunas, biking trails and convenient clubhouse. ... 05/11/2009

Federal regulators are staffing up, leasing office space, and creating a management structure in preparation to seize an undisclosed number of struggling banks in Florida and the Southeastern United States.The Federal Deposit Insurance Corp., which guarantees deposits of $250,000 at the nation's banks, plans to open a satellite office to be used by up to 500 people in the northeast Florida city of Jacksonville to spearhead the imminent seizures and eventual asset sales."The FDIC, which prides itself on predictability and consistency, is sending a strong message to the banking industry that the day of reckoning is almost at hand," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based consultancy Condo Vultures® LLC. "Industry watchers have been expecting this moment as Florid... 05/10/2009

The Florida Legislature adjourned this Friday, but not before approving a $66.5 billion budget that has many celebrating. Most notable, the budget allocates $30.1 million for down payment assistance programs.  Those who qualify for the the federal first-time home buyer's tax credit will be able to apply for down payment assistance in advance of closing, then repay the amount they borrowed when they get their tax refund.  The program will begin on July 1, 2009 and will operate through local county housing administrators. NOTE: Don't miss out on this incredible opportunity to fulfill your dream of home ownership.  The federal tax credit expires on December 1st.  For more information, or to find out if you qualify, call me at 305.851.5910. Other budget line items of note include: Up to $40... 05/09/2009

One of the most beautiful, vibrant communities to live in is South Beach Miami. Residents are friendly, outgoing, and your days are filled with numerous outdoor and indoor activities, giving South Beach the well deserved reputation as one of the finest places in the world to live. Of the South Beach area, the most sought after location to live is W South Beach. With the rising property values and breathtaking views, you only have to glance around the W South Beach Condo to realize why everyone is flocking to live here! Ideal for the discerning owner, W South Beach is filled with designer appliances and fixtures and wraps luxury around you at every turn. W Miami Beach offers an amazing range of residences, from Ocean Suites to Ocean Residences and Beach Bungalows. The Penthouses are a ma... 05/08/2009

05/07/2009

As many as 50% of all at-risk borrowers have second mortgages.  Even with loan modification on the first mortgage, these borrowers remain at risk for default without modification on the second note. The Treasury Department has expanded the Making Home Affordable Program to include second mortgages. Under the Second Lien Program, if the servicer initiates a Home Affordable Modification on the first mortgage, participating servicers will automatically reduce payment on the second lien in accordance with complex, but uniform, program criteria. As an alternative, servicers may extinguish the second lien in exchange for receiving a lump sum payment. The Obama Administration also announced steps to incorporate the Federal Housing Administration's (FHA) Hope for Homeowners into Making Home Aff... 05/07/2009

So you’ve finally reached the point where you’ll be transitioning from a renter to a South Beach condo homeowner. Normally this should be an easy transition but in many cases moving from a rental to any new home is a process that is easier said than done. Here are some tips to make the process a little easier to bear as you go from one place to another. Always start off by giving sufficient notice (in writing) of your departure and making a list of everything that needs to be done before the moving date comes around. If you need a moving company, call some up and have one in place. If you know that a thorough cleaning of the rental is going to take time, have someone available who will help you out. While you’re at it, you may wish to sell or give away some things you may not need in yo... 05/06/2009

Seller Financing for Miami Beach Waterfront Homes There are 15 single family waterfront homeowners in prices ranging from $1.5 million to over $15 million that are offering some type of owner financing also known as seller financing in the Miami Beach area. There are 4 on the Venetian Islands; 2 on Palm Island; 2 on North Bay Road; 3 in the North Beach area; 1 on Sunset Island; 1 on La Gorce Island; 1 on Pinetree Dr; and 1 on Aqua on Allison Island. Owner Financing or Seller Financing is typically offered with down payments ranging from 20% to 50%, interest rates slightly above the banks, and with a balloon payment due anywhere from 3 to 5 years out. To view the Miami Beach waterfront homes offering seller financing, click on the link below to view the selected properties, and then Doub... 04/30/2009

Waterfront Miami Beach Homes with Potential Here are 6 Miami Beach waterfront single family homes that have potential if the right investor comes along and is willing to renovate and hold the property for several years. These homes all have panoramic wide bay views. They range in price from $1.2 million to $8.9 million.      Here are the properties: 1541 Stillwater Dr - $1.25 million - 3/3 - 2,600 sf liv area/ 7,500 sf lot 1111 N Venetian Dr - $2.375 million - 3/3 - 4,010 sf liv area/ 15,000 sf lot 430 W San Marino Dr - $2.95 million - 4/4 - 3,500 sf liv area/ 12,906 sf lot 1580 Stillwater Dr - $2.99 million - 4/4 - 4,500 sf liv area/ 27,000 sf lot 2940 N Bay Rd - $6.9 million - 5/7 - 9,476 sf liv area/ 43,988 sf lot 34 Indian Creek - $8.9 million - 3/3 - 3,684 sf liv area/ 80,000 sf lo... 04/30/2009

The buyer activity in Miami Beach Real estate has increased significantly over the past month for "A-grade" real estate properties. The grade "A" properties are defined as: - Waterfront South Beach condos such as the Murano, Murano Grande, Icon South Beach, Portofino Tower, Continuum South Beach, and other affordable bayfront condos such as The Waverly and The Floridian on West Ave. - Luxury waterfront single-family homes located on the island communities of Venetian, Palm, Hibiscus, and Sunset Islands. Whether it's a waterfront home or luxury condo, aside from being an "A" grade property in today's buyers market an additional requirement is that the property be a turnkey, or completely remodeled and updated. In other words, the only additional expense a buyer has to be concerned with i... 04/30/2009