Miami Beach, FL Real Estate News

By Miami Beach Condos and Homes
(www.miamibeachcondosandhomes.com)
Let’s start off by getting a few things out of the way first: the economic climate is dicey to say the least and the real estate market remains in an unstable state where home buying remains a risky, albeit much more affordable prospect. It’s this prospect that has apparently been ingrained in the minds of home buyers which bring some favorable news. The month of May saw another gain in existing home sales, a modest two percent increase from April. Yes, it does remain comparably low to a year ago but that’s a given considering the overall state of things yet it remains at least somewhat encouraging. With that in mind, overall prices for property around the country—South Florida homes included—also dipped from about $220,000 to less than $210,000 which again, is expected. Countless real ...
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By Allan Kleer
(The Kleer Team)
I recently came across an interview with Jim Cramer (from Mad Money on CNBC), which I believe accurately predicts future real estate trends for the Southeast Florida housing market. For anyone considering buying Miami Beach, South Beach, or even downtown Miami waterfront properties, now is the time to be making offers on well priced properties. Cramer’s Key Points: Inventory is drying up & being steadily being absorbed Housing starts have been down for over two years New construction projects stopped two years ago Florida is generally one year ahead of market trends Interest Rate cuts have had a positive effect in absorbing excess inventory (at much reduced prices) Watch Jim Cramer's Interview Below:
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By Aventura | Bal Harbour | Sunny Isles Beach | REALTOR® 786-229-7999
(SIB REALTY, Llc // WaterWayRealty.com)
North Beach   NORTH BEACH • MIAMI BEACH   View Larger Map The North Beach Development Corporation (NBDC) seems to have a handle on the happenings of North Beach. The most impressive in size is Canyon Ranch Living; Canyon Ranch is a three building interconnected complex that boasts 581 total units. The world renown Carillion Hotel is at the centerpiece of this development. Carillon Hotel Miami Beach, FL The Carillon Hotel was designed by Norman M. Giller and built in 1957. It has been closed since 1987 and is now being completely remodeled into condos. While building two new towers, the original is supposedly being resurfaced in the original MiMo style. For more, see these websites: 1, 2, and 3.   The Carillon Hotel was boarded down in 1987 and basically uninhabitable for years. Now, th...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
I just re-read an article published in the Wall St. Journal a couple of months ago about the real estate markets. The article is accurate when referring to some of the most troubled areas in the city of Miami - but they forgot to make the distinction between the Miami and the Miami Beach markets. Many of the condos and developments referenced in the article were new projects located in the most overdeveloped areas of Miami. It would be a good buy if they were not overpriced to begin with. Note that many of the Sellers in this market have overpriced their condos and when properties are not priced right, the listings either expire or they are forced to adjust their prices down substantially to be in the best position possible to attract buyers. Price reductions are ranging from 15% to 40%...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
TripAdvisor, the online travel site, named the Lenox, Massachusetts Canyon Ranch Spa as one of the top 10 spas in the world. Canyon Ranch is about to open its 3rd spa in Miami Beach in the next few months. The other is located in Tuscon, Arizona. Canyon Ranch has developed a world famous reputation by providing healthy active vacations that offer wellness as its central theme. This includes everything from healthy eating to fitness to healing and health facilities. Canyon Ranch Miami Beach sits on 6 acres of oceanfront real estate on Collins Avenue between 67th and 69th Streets in the North Beach neighborhood of Miami Beach. There are over 500 condos and hotel units in the three towers that are scheduled to open later this year. For more information on Canyon Ranch and other Miami Beach...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
  Located on the southernmost point of South Beach, the grounds of the Continuum are most impressive. They cover approximately 13 acres and consist of manicured lawns, multiple large pools, 3 tennis courts, dozens of townhouses and a pristine white beach. Today I saw several condos and a town home. One condo on the 19th floor caught my attention with its breathtaking direct ocean views. It is actually a combined unit - one of several the developer configured consisting of a northeast corner unit and a unit with a direct east exposure. The floor-to-ceiling windows greatly enhanced the view. The finishes in the kitchen and the appliances were what you would expect. The layout was a little disappointing, but then again it is a challenge to match those views. In a way, I preferred the town ...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
In the Miami Beach area, inventory levels are virtually unchanged in the last 12 months with only a 3.6% increase from 12 months ago, whereas, unit sales are down 49.5% from one year ago. In the last 3 months, the number of transactions that are pending (went into contract) is up 108% and the number of closed sales is up 46% in March from the low of December 2007, so we think that we are very close to the bottom of the market for waterfront property here, and we see the demand steadily increasing over the next several months signifying a good time to buy. See our Miami Beach Statistics. In Miami Beach, there are currently 4,494 residential properties for sale of which only 92 sold in the month of March at 90% of asking price with an average time on the market of 134 days. For every 50 f...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
  Here are some of the best values in single-family houses under $1 million in Miami Beach. The selections are a combination of best price per square foot, neighborhood and appearance of the house. Note that some of the houses I like because the way they are decorated, however, there are some included here that simply offer a very good value in a good neighborhood but may not be very appealing decor-wise. Please note that this information was extracted from the local southeast Florida MLS, so prices and availability may have changed due to market conditions. There are a few houses that are very interesting for different reasons. One home is on one of the nicest streets in Miami Beach called Pinetree Drive. It is a 2/2 with 1,865 sq.ft. on a 7,700 sf lot priced at $949,000. Three homes a...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
We researched the best priced 2 bedroom condos in South Beach, and here is a list of what we found using 1,200 square feet as a minimum for a 2 bedroom/2 bathroom condo on the water. Note that these may not be necessarily the best buildings, however, they are among the lowest prices on a per square foot basis. In Miami Beach, note that condos north of South Beach what is commonly referred to as Mid-Beach or Millionaires Row (23rd Street to 63rd Street) and North Beach (63rd Street to 87th Street) are less expensive. On a per square foot basis, there are 4 condos for sale in the Costa Brava Condo that are under $300 per sf (sq.ft.). Two are penthouses - one is 2,900 sf and is selling for $775,000; the other is 1,700 sf for $465,000. The majority of the others in the low $300/per sf price...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
The high-end market is not doing too badly if 120 condos sold in Miami-Dade County for $1 million or more in the 1st quarter of 2008. The most expensive one was a 5 bedroom/6 bath condo with 8,900 sq. ft. of living space on Fisher Island for $12.6 million. Four others sold for over $5 million. Second place was another condo on Fisher Island for $7.2 million. Third place was a 5 bedroom/5 bath villa located at the Bath Club in Miami Beachfor $6.7 million. Fourth place went to a 3 bedroom/3 bathroom penthouse at the Setai for $6 million. Fifth place was a 4 bedroom/4 bathroom condo at One Bal Harbour for $5.1 million. 3 condos sold in the $4 million range. 4 sold in the $3 million range. 31 sold in the $2 million range. The remaining 78 that sold were in the $1 million range. Here are the...
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By Stephen Cohen
(South Beach Condo)
We can only ponder the future events that will affect the real estate market. It could experience further decline congruent with economic instability or it could see a full recovery due to opportunity presented by discounted home values. Recent trends would suggest that the housing market is reaching some semblance of stability. With home values and sales leveling off, many believe the worst is over and are looking to a more optimistic future. The National Association of Realtors (NAR) has followed the housing market ups and downs for the last century. Lawrence Yun, the head economist for the NAR, believes we should look to the future of the housing market with optimism. This month he's made a startling prediction that home values will increase 1/3 within the next five years. Mister Yun...
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By Mott Marvin Kornicki, Miami Notary & Apostille 786-229-7999
(Waterway Realtors® • Notary Public & Apostille)
Regatta 2 North Beach <!-- .style3 {color: #333333; font-size: 14px; font-family: Verdana, Arial, Helvetica, sans-serif; } .style2 { color: #333333; font-size: 11px; font-family: Verdana, Arial, Helvetica, sans-serif; } .style5 {color: #333333; font-size: 11px; font-family: Verdana, Arial, Helvetica, sans-serif; font-weight: bold; } .style4 {font-size: 11px} --> REGATTA 2 • NORTH BEACH • MIAMI BEACH Miami Condos Regatta 2 in North Beach South Florida A Miami Beach boutique condominium with a fabulous marina lifestyle, the first phase of Regatta launched with a splash and sold in a flash. Now the shores on Indian Creek, North Beach's most sophisticated new address is poised at the starting line once again with a spectacular new second phase. Regatta2 is an exclusive, intimate buildin...
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It wasn’t too long ago when 1 Euro would only buy you US$ 0.80. Unfortunately (or should we say fortunately ?) the table has turned and 1 Euro at the time of  this writing will buy you US$ 1.57.  This has not only made travel to Paris, London, Rome - or whatever European city you might favor - very expensive, but it certainly has made the US a very attractive target for European bargain shoppers of all sorts.  Clothing, vacations, cars, it is all discounted right now. The same seems to hold true for real estate.  Especially when you combine the favorable exchange rate with the weak housing market and the significant price declines in many US cities. Let’s use my home town – Miami, FL – as an example. South Florida has seen some of the biggest price increases during ...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
In spite of a troubled real estate market here in Miami Beach, there still are a number of very expensive houses for sale in our market.The most expensive are: · 3 Indian Creek for $52 million - 30,000 sf on a 80,000 sf lot · 12 Indian Creek for $32 million - 16,228 sf on a 80,000 sf lot · 26 Star Island Dr. for $32 million - 19,440 sf on a 106,888 sf lot · 88 La Gorce for $25 million - 20,000 sf on a 48,000 sf lot · 27 Star Island Dr for $23.5 million - 15,000 sf on a 40,000 sf lot Those were the top 5 in the Miami Beach and Indian Creek areas. There are a total of 22 houses for sale that are over $10 million and another 38 for sale that are over $5 million. In general, most of the top houses command over $1,000 per square foot because of their waterfront location and views. There are ...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
The King Cole Condo is one of those architecturally unique buildings that you cannot help noticing. It was designed by a protégé of Morris Lapidus, who designed the Fontainebleau and Eden Roc, and is considered one of the originators of MiMo or Miami Modern Architecture, which began in the 1950's and 1960's. The King Cole is 11 stories tall with over 280 units that include a few studios, mostly one and two bedroom units, several penthouses and a 32 slip private marina. In the midst of a four million dollar renovation, we insiders believe that the King Cole is one of the best values in Miami Beach. Of course, it may take a few years to realize this. There are many good buys right now. Two bedroom apartments have over 1,500 square feet of living space not including the balconies; one-bedr...
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By Aventura | Bal Harbour | Sunny Isles Beach | REALTOR® 786-229-7999
(SIB REALTY, Llc // WaterWayRealty.com)
Regatta will instantly remind you of a place far away in a time when things where simple, elegant and stately. The 9 foot ceilings, the iron railings reminiscent of a cruise ship, the modern kitchens, and baths the ideal Indian Creek location in the newest South Florida hot spot known as North Beach Regatta Indian Creek <!-- img.imageThumb { height:192px; margin:10px; -ms-interpolation-mode:bicubic; border:0px none; } div.imageText { width:275px; word-wrap:break-word; } --> REGATTA "305" MIAMI 2 Bedroom 2 Bath + Den located on the waterfront at Regatta Indian Creek, one block from the Beach. Private marina, concierge, valet, waterfront pool, whirlpool, sauna, and gym. European style cabinets, marble floors, neutral color paint, 9'4 floor to ceiling windows, open floor plan. Best pric...
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By Miami Beach Condos and Homes
(www.miamibeachcondosandhomes.com)
 There’s arguably never been a better time to buy Miami Beach property than now. Prices for South Florida homes are unusually low, mortgage loan rates are reasonable and sellers are more than willing to negotiate. That still doesn’t make home buying any easier, especially for the first time buyer who is about to embark on their first big home purchase but is feeling anxious. Use these tips to make the process less stressful. Know what you want and what you can afford. Browsing through a large inventory of South Beach luxury homes can be overwhelming if you don’t have a specific goal in mind in terms of the number of bedrooms you’re looking for, price, location, etc. Going in with a clearly defined goal dramatically narrows down your options. With that said, knowing what you can afford a...
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By The Criscitos, Real Strengths, Real Advantages and Real Results
(Majestic Properties)
Buying or selling property is a new experience for most people. Imagine yourself going through the process of searching what you need. It is an exhausting task to say the least. What is more, it requires a significant investment. And it is even more exhausting when it comes to Miami real estate market. One has to know Miami real estate market before undertaking such an experience there.Thanks to resource like buymiami.net that they have made it easy to search and own a luxury condo, lofts and or a home in posh neighbourhoods in Miami. is one of the most comprehensive listings of miami beach condos, lofts and or a luxury homes. Neatly listed, it is easy to search for own unique preferences. Each of the properties have sufficient graphical details to give the idea of the property. Just ha...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
After I researched the condos, I became curious about the single family homes in the area. Here is what I found. Note that this information is based on the southeast MLS and is from May 2008, so some data may have changed. Currently, there are 467 single-family houses for sale in Miami Beach. Of those currently listed, here are the 10 listings that have experienced the largest price declines on a percentage basis. 1100 Bay Drive -56% 4618 Post Ave -55% 1551 Stillwater Dr -50% 5850 Alton Rd -46% 1234 13 St -44% 1255 West Ave -44% 4365 N Michigan Ave -44% 4420 N Adams Ave -42% 3160 Sheridan Ave -41% 894 80 St -39% Here are the 10 active listings that have experienced the largest price declines on a dollar basis. 4949 Pinetree Dr -$3,700,000 to $14,900,000 26 Star Island Dr -$3,000,000 to ...
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By Michael Sahlman, e-PRO - Miami Beach Florida Luxury Homes
(www.HomesForVIPs.com - Keller Williams Realty)
Out of curiosity the other day, I wanted to see which currently listed condos in South Beach have adjusted their prices down the most from the original list price. Keep in mind that this information has been extracted from the Southeast MLS and is based on the information provided there, so if the property was previously listed under a different MLS number, then the statistics provided here would be changed. As of May, 2008, the ten condos in South Beach currently listed at $500,000 or more that declined the most percentage-wise are as follows: 400 Alton Road #411 -49% 3801 Collins Ave #1205 -38% 520 West Ave #1702 -36% 11 Island Ave #PHD -35% 520 West Ave #2102 -32% 1458 Ocean #PH10 -31% 90 Alton Rd #3111 -31% 450 Alton Rd #906 -30% 234 Meridian Ave #5 -30% 928 Pennsylvania Ave #3 -28%...
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