Types of Auctions Absolute Auction: An Auction where the property is sold to the highest qualified bidder, regardless of price. The seller may not bid personally or through an agent. Reserve Auction: An Auction in which the seller maintains the right to establish a Reserve price to be met or exceeded before agreeing to sell. Minimum-Bid Auction: An Auction in which the auctioneer will accept bids at or above a disclosed price. The minimum price is always stated in the brochure and advertisements and is announced at the Auction. Sealed-Bid Auction: A method of sale utilized where confidential bids are submitted to be opened at a pre- determined place and time. FAQ's Why should I sell my property using the auction Method? Selling your property utilizing the auction method accelerates the ... 08/18/2008

I’d like to highlight a few of the more significant closed sales information for single family homes located on Palm Island, Hibiscus Island, Venetian Islands and Sunset Islands 1-4 in Miami Beach from May 1 through August 20, 2008. A total of eighteen (18) homes sold and closed during this time frame with an average sales price of $3,300,000. The median price per s.f. was $731, with the average time on market of 259 days. In EVERY case, ALL of these homes were significantly price reduced, and represent price rollbacks to 2004 price levels. ARE YOU SERIOUS ABOUT SELLING? - If you own a condo or a single family home in Miami Beach (especially South Beach), and have had trouble selling, please call us for a free market analysis. I believe in telling it “straight” to clients (or potential ... 08/14/2008

Year to date there have been 11 closed sales in the Setai of which 9 were in the Tower with the other two being in the condo hotel part of the Setai. Average sales price for the Setai Tower is $2.87 million or $1,667/per sf with average days on market of 171 days and have been selling at an average of 88% of list price. Sales ranged from $1.12 million for an 824 sf condo to $6 million for a 3.571 sf penthouse condo. The condo hotel averaged about $563,000 for its two sales or $859/per sf. There are currently 45 condos available for sale in the Setai of which 41 are in the Tower. The Tower Residences range in asking price from $1.285 million for #1805, a 1 bedroom/ 1 bath condo of 821 square feet condo to $8,050,000 for #3901 - a 5 bedroom /5 bathroom condo of 3,974 square feet. For more... 08/12/2008

Just in case anyone out there does not believe everything that the media reports and sensationalizes (as well as the numerous real estate experts out there), here is some news based on cold hard facts and statistics.  The supply for Miami Beach has been steady for over one year now. Sales were at their lowest level in December of 2007 and have been increasing modestly since. This does not mean that the market has come roaring back. What it does mean..in my humble opinion...is that it is a great time to buy and hold as there are numerous deals to be had out there. For more detailed information about this report and real estate in South Beach, Miami, Miami Beach, Sunny Isles and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.H... 08/09/2008

In July there were 4 closed sales. Two of them were one bedroom condos (#3508 and #3308) that sold for $585K and $650K. The other two sales were #3201 (a 3/3) and #2605 (a 2/2), which sold for $2.35 million and $1.175 million respectively. Right now there are 4 condos that are pending sale meaning they are technically in contract. There are currently 34 condos for sale at Icon South Beach located at 450 Alton Road ranging in price from $550,000 for a one bedroom #808 to $15.9 million for Penthouse 1. For more information about the Icon and other real estate in South Beach, Miami, Miami Beach, Sunny Isles and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the differen... 08/09/2008

In the month of July, 2 condos sold- unit# 804 for $5.5 million off the list price of $6.7 million; the other unit #2004 sold at its list price of $7.3 million. The average price per square footof these two sales was $1,541.00. Both were corner units with 4,154 sf under air plus a balcony of over 2,000 sf. There is one sale pending -unit# 2102. Currently there are 14 condos for sale at Apogee located at 800 S Pointe Drive, one of the newest and most exclusive buildings in South Beach with a total of 68 condos in the building. Prices range from $3.99 million for #902 to $17.75 million for #2001/2002 and $22 million for Penthouse A. For more information about the Apogee or other real estate in South Beach, Miami, Miami Beach, Sunny Isles and the surrounding areas, please contact us at 786... 08/09/2008

Out of the 74 condos sold in July 2008 in South Beach, below is the breakdown of sales by price range and related statistics. $5 million and up -2 sales at an average price of $1,541 per square foot at 91% of list price with average days on market of 122 $2 million-$4.99 million -2 sales at an average price of $999 per square foot at 82% of list price with average days on market of 129 $1 million-$1.99 million -6 sales at an average price of $706 per square foot at 88% of list price with average days on market of 189 $750,000-$999,999 -3 sales at an average price of $504 per square foot at 84% of list price with average days on market of 181 $500,000-$749,999 -17 sales at an average price of $409 per square foot at 92% of list price with average days on market of 153 $300,000-$499,999 -... 08/09/2008

There were a total of 76 closed sales in July 2008 in the South Beach area with an average sales price of $734,864 and an average list price of $819,147. Sales price averaged 92% of the list price. This does not take into account the original list price. Average days on market was 167. The median sales price was $455,000. The average sales price per square foot was $463. These numbers reflect both waterfront residential real estate and non-waterfront property. Note that these statistics were based on data extracted from the southeast MLS. For more information about this report and real estate in South Beach, Miami Beach, Miami and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn ... 08/09/2008

Because of the troubled real estate market and the uncertain economic climate, the market is now heavily catering towards the money generated by foreigners who are increasingly taking advantage of the lower dollar value and are largely unconcerned with the several problems that have people on edge about where things are going. For these foreigners, it's become a question of "Where can I buy the most 'bang for my buck'?" After all, there are numerous cities and countries throughout the globe that offer beachside homes in popular areas at varying prices, so how does one go about finding the "best" spot? International publications have chosen South Beach in Florida alongside other areas like Ipanema Beach in Brazil and Costa Smeralda in Sardinia as one of the best spots for experiencing a ... 08/08/2008

The State of Florida is still in desperate need of property tax reform & reduction. The measure that was approved last year has helped to provide some limited tax reductions, but has turned out to be a complicated & very limited property tax reduction effort. There is a new initiative to significantly reduce property taxes next year, called AMENDMENT FIVE, which would eliminate from 25-40% of today's current property taxes, creating a SIGNIFICANT reduction in the total cost of home and/or business ownership. To replace the lost revenue, Florida sales tax would increase by about 1%. 5 Reasons To Vote YES for Amendment 5 Amendment 5 is a long overdue tax cut for all property owners: families, businesses, second homeowners and investors. Property tax levies have doubled over the past six y... 08/07/2008

There were 93 condos sold in Miami Beach in July 2008 according to the southeast MLS. The highest sale was in the Apogee for $7.3 million. There were 11 sales over $1 million; another 24 over $500,000; 27 condos between $300K and $500K; and 31 sales under $300,000. With 3,745 condos for sale right now in Miami Beach, this means that based on the last month of sales, approximately 1 condo is selling each month for every 40 condos that are available for sale, or about 40 months of inventory at the current absorption rate. For more information about real estate in Miami, Miami Beach and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you... 08/02/2008

There were only 7 reported sales of single family homes in the MLSfor July 2008 at prices ranging from $600,000 to $2.65 million. The sales price was on average 87% of the list price and was on the market an average of 190 days. Of course, the one house that was on the market for 562 days does kind of throw this average off, making it really closer to 130 days on market. With 444 homes currently for sale, the recent sales activity would mean that only 1 in 60 homes that are on the market right now are selling each month. For more information on real estate in Miami, Miami Beach and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you i... 08/02/2008

If you were to guess how many 3 bedroom waterfront condos in South Beach are either bank owned foreclosures or preforeclosures (short sales) that are available for sale, what would you guess the number to be? Keep in mind all of the dire predictions emanating from the many voices of doom that include the media, top economists and the many real estate "experts" throughout the country. There are literally only 4 condos (1 is bank owned; the other 3 are short sales) in the South Beach area that are at least 3 bedrooms/3 bathrooms in waterfront buildings. Two are in the Floridian at 650 West Ave., which is on the bay side of South Beach; 1 Century Lane is on the bay side as well but close to the Venetian Islands. The last one is very over-priced and overlooks Government Cut separating Fishe... 08/02/2008

$4 Million in Renovations. The King Cole had a $4.3 million assessment last year. This was to make several very much needed renovations and improvements. The main ones were the replacement of the two chillers (air conditioning system), which cost approx. $1 million; the other major was to install new balconies made of a clear smoked glass, which was approx. $750,000; and the last major renovation to be completed is the interior hallways on all floors, which will cost about $1.1 million. The interior renovation consists of replacing all of the wallpaper, the carpet, the light fixtures, door knobs, door numbers and replacing the parquet wood floors with terrazzo in the common areas outside of the elevator on each floor. The interiors will be mainly off-white with different shades of that ... 08/02/2008

NORTH BEACH NEIGHBORHOOD INFORMATION Geographic boundaries are considered to be north at 87th Street (Surfside begin at 88th St.) and Collins Avenue and south at 63rd Street & Collins Avenue; east is the Atlantic Ocean and west extends out to Normandy Isles and Biscayne Point, which both border on Biscayne Bay. There has been and continues to be a movement here to preserve historic architecture, which includes Miami Modern style form the 1950's and Art Deco from the 1920's. Several neighborhoods in North Beach have been recently nominated to be added to the National Register of Historic Places, including the Normandy Isles Historic District. Convenient, quiet residential neighborhood with many benefits near everything.The North Beach neighborhoods are all conveniently located within a h... 08/02/2008

Foreclosures are still a major problem for the real estate market. On the plus side, the situation is being addressed in various ways; the most prominent of these being the major housing law that seeks to stop foreclosures and keep major mortgage lenders like Fannie Mae and Freddie Mac afloat. Most homeowners who are struggling with unmanageable mortgage payments often find themselves with no choice but to foreclose on their South Florida homes instead of exploring what other options might be available. The following options may not prevent a negative effect on a homeowner’s credit score or the loss of the home itself but they do remove the majority of the legalities and hassles involved in the foreclosure process. Short sales have become very popular with realtors who have been taking ... 07/31/2008

Below are a some sales stats for the overall Miami Beach (South Beach) luxury condo market for the past three months :         •    As of late July, there are 450 units for sale between $500K and $1.1M•    As of late July, there are 209 units for sale between $1.1M and $2.1M•    As of late July, there are 111 units for sale between $2.1M and $5M•    As of late July, there are 43 units for sale over $5M   I've received many inquiries about CONTINUUM II since its opening, so far there have been nine closed sales and one pending sale as recorded on the Multiple Listing Service.  This is a significant slowdown in sales activity, especially comparing the re-sales activity that took place with Continuum - South Tower a few years ago.  However, the latest sales have been averaging well over $1... 07/30/2008

Currently, there are 38 waterfront houses for sale for less than $1.2 million in Miami Beach, Surfside, Eastern Shores (North Miami Beach) and Belle Meade. The average selling price these days ranges from 85% to 90% of the list price, so most of these can be bought for less than $1 million, however, each seller is different and their motivation and reasons for selling may vary as well. Of the 38 in this price range, there were 11 that caught my eye as the most promising. They all have at least 3 bedrooms and 2 full bathrooms. Some have pools and other have docks and some have both. Many different styles of homes are included here to give a potential buyer a wide variety to choose from. Note that the Eastern Shores area is on the west side of Biscayne Bay. Also note that North Miami Beac... 07/26/2008

These condos in South Beach represent the best values right now in luxury waterfront condo buildings. Given the current market here, there is flexibility with most of these listings. I have included the ones that represent the best deals on the MLS. There are not too many really distressed 3 bedroom waterfront condos in South Beach. This includes bank owned properties, REOs and short sales in South Beach. I did come across one short sale in the 3+ bedroom range, which was for $5.4 million (priced too high given the property and that it is a short sale). The best values in South Beach on a price per square foot basis are in the Icon and the Murano Grande at 450 Alton Rd. and 400 Alton Rd. respectively. The other buildings are the Continuum South and North (100 and 50 S Pointe Dr), Murano... 07/26/2008

There are a total of approximately 323 waterfront houses currently available that are in Miami Beach and Surfside, Bay Harbor Islands, Bal Harbour, Sunny Isles and Eastern Shores, which are all on the beach side of Biscayne Bay and within 10-20 minutes away from South Beach. I also included waterfront homes in northeast Miami in the Miami Shores, Morningside, Belle Meade and Baypoint neighborhoods as these are all have ocean access through Biscayne Bay and are within 5 miles of Miami Beach. The other criteria are a miniumum of 3 bedrooms and 2 full bathrooms and a swimming pool. Based on the above criteria here is how it breaks down by price: $740,000-$800,000            6 houses $801,000-$900,000            8 houses $900,000-$1,000,000         3 houses $1,000,000-$1,200,000      8 hous... 07/26/2008