Miami, FL Real Estate News

By Josh Stein, Miami Luxury Real Estate Agent
(Josh Stein Realtor)
For those serious about shopping, the news that Reach Brickell City Centre is adding 11 more high-end retailers is a dream come true. Locals are already excited about the 50,000 square foot space that will host world famous brands and upscale venues, and is set to open in the fall.Brickell City Centre will not just serve as a shopping mecca for locals and tourists alike, but will also be on the top of the list for those looking at Miami luxury homes for sale. This beautifully designed shopping complex will be intertwined with some of the most luxurious homes in the area, and will be one of the hottest places to call home in the Miami area. Shopping enthusiasts will be excited to know that out of 70 upscale retailers that will call Brickell City Centre home, Hugo Boss, Sephora, Lafayette...
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By Morris Massre, Real Estate Instructor Broward County Florida
The city of Miami claims it wants to be an international city. That probably explains the reason for all of the building downtown and remodeling on the beach.  It may even explain all of the festivals.  But in order to be a truly international city you need the best public transporation possible, and what we have now is embarrassing.  The Tri-Rail is nice, but developed more for commuters. It travels north-south and pretty much takes people to work.  The Metro, on the other hand, runs east-west and pretty much runs from the airport and points in between and downtown.  The buses just plain take forever, and standing around in the heat waiting for them is no fun.  I love the way the city produces bus stop benches made of metal.  Try sitting on those in this heat.  And the terminals are ju...
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By Jamey Prezzi Miami & Miami Beach Luxury Condos & Homes, Miami Beach & Miami Luxury Homes and Condos
(ONE Sotheby's International Realty )
We just sold this great corner lot property in Biscayne Park. This property took approximately 133 days to sell. In this Miami real estate market, seller agents need to be on top of the market to get properties sold, and it’s important for sellers to understand that our market is adjusting. If you want to get your home sold, you need to look at the active inventory, what’s under contract and recently sold to price your home against comparable properties. More weight should be put on what’s under contract and what recently sold.We like to do a deep market analysis for our sellers to get the best understanding of inventory and what should sell next. It’s important to stage well, price well and show the property as soon as calls come in to see it.If you need help selling your Biscayne Park...
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By Morris Massre, Real Estate Instructor Broward County Florida
Everyone wants to move to Florida, especially Miami, because of the weather.  I get it.  I can see how one would get sick of the extreme cold up north, but remember that what you have in extreme cold up there we have in extreme heat down here.  And it's about to get worse.  Climate change is not only flooding this place as I have said before, but it's making it a lot warmer and more humid.  It's no wonder my air conditioning bill hovers around $250. a month.  You may say that you don't mind, but take into account the fact that the combination of high heat and humidity leads to sunstroke. Not very pleasant.  I have seen so many people out on the beach with a beer in their hand instead of a bottle of water and little do they know that that is a recipe for a sunstroke.  I can stand on a co...
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By Morris Massre, Real Estate Instructor Broward County Florida
I know a lot of you entrepreneurs out there do not want to hear this, but it's only fair that I tell you.  Although Airbnb is a very nice alternative to hiring a real person; i. e., a realtor, it may not always be the safest route for making money legally.  I am certain that there are many landlords out there who try and successfully skirt around the rules and regulations of your HOA, but rest assured that if and when you get caught the consequences can be quite severe.  Before you get into this read your homeowner's docs to see if it is okay first.  Odds are it's not.  Your association, of which you so graciously and voluntarily joined, will boot out your customer and void any agreement you have.  They may even be able to fine you.On the other hand, some cities restrict short term rent...
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By Morris Massre, Real Estate Instructor Broward County Florida
Top 10 rules for driving in Miami.1. Never use a a blinker.  That would be way too courteous.2. Cut off as many people as possible before an exit or at a bottleneck.3. Drive extremely slow in the left lane.4. Wear your earbuds while driving.  You wouldn't want to hear anything like an ambulance behind you.5. Always back in when parking, but don't let anyone behind you know what you are doing.6. Honk as much as possible.  7. Never keep up with the maintenance of your car so that it breaks down in the middle lane of I-95.8. Run every stop light and stop sign.  There is no reason for anyone to get in your way.9. Do not go immediately after a light turns green, if you stop at all, as we want to rear end you and get sued. 10. Always cut off the other driver when changing lanes.   And there y...
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By Yoana Toth, P.A.
(Toth Real Estate Group, Inc)
 PRESENTS Epic Residence200 Biscayne Blvd, Unit 4112, Miami, Fl 331311 bedroom | 1 1/2 baths | 822 sq.ftMLS#A10110670 REDUCED TO $399,900.00BEST PRICE UNIT AT THE EPIC Spectacular city views from this unit at the Epic Residences located along the banks of the Miami River where it joins Biscayne Bay. It features the finest and most luxurious finishes.          Kitchen Snaidero “Time” cabinetry designed by Lucci e Orlandini in dark oak wood with stainless steel inserts Giada White Marble countertops Under counter cabinetry lighting Miele flat Ceran® electric cook top with variable cooking zones Microwave with multi-sensor cooking mode in stainless steel  Refrigerator/freezer and ice maker paneled with Snaidero cabinetry Miele dishwasher with flow-through heating and thermal drying system ...
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By Morris Massre, Real Estate Instructor Broward County Florida
I am worried about climate change and you should be too if you live in South Florida.  Experts have been painting a very ugly picture of Florida's future if we don't start to change as human beings now because climate change is essentially caused by us. We have the power to make things right, but it will certainly take more than just a village. We now know that like New Orleans, South Florida is sinking at an alarming rate. And unlike Miami, New Orleans has always been sinking. Their problem is soft soil and erosion, not pollution. The city continues to build gigantic condos, like New York, in an effort to keep up with the international Jones'. This effort has led to, dare I say it, more weight and less water drainage. Therefore, when it rains here the city and most of county for that m...
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By Morris Massre, Real Estate Instructor Broward County Florida
There is a huge income gap in Miami and the entire South Florida area for that matter.  Yesterday two article appeared in the papers.  The first, which is national, stated that Miami is the worst place in the country to live and the second, a local paper, rebutted with sarcasm.What the first was talking about is the income gap.  Miami has gotten to the point of haves and have nots.  Of course, it is a beautiful city with lots to do.  Nobody disputes that.  The problem stems from the fact that the majority of people that live here can't even afford to do so.  The wealthy live high on the hog and it looks like everyone is rich because, like locust swarms, the rich tend to congregate in one place.  The poor, on the other hand, have been slowly moved out to less desirable neighborhoods.  Re...
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By DALIA KIBBY, Selling Florida Homes with Passion!
(One Sothebys International Realty)
A recent examination of living costs from the folks at gobankingrates reveals the most expensive cities in the U.S. The study considered the average costs of rent, groceries, utilities, transportation & health care, added 30% for discretionary spending and 20% for savings. Per the results, the amount needed to live 'comfortably' ranged from $119,570 annually for San Francisco (the most expensive) to $68,671 for number 10 ranked Chicago. Residents in number 6 ranked, Miami, Fl. need $77,057 annually to live comfortably. Surprisingly, Honolulu didn't make the list. The top ten cities, in order from most to least expensive are: San Francisco, San Jose, New York, Boston, Washington, D.C., Miami, FL., Los Angeles, Seattle, San Diego & Chicago.    
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By Morris Massre, Real Estate Instructor Broward County Florida
There's been a lot of talk about climate change lately, especially here in Miami.   But I wonder what is being done about it and how we as a people can do.  I have already seen what happens to Miami-Dade and Miami Beach after an afternoon shower, so I can't even imagine what a hurricane would do with a direct hit.  Miami Beach officials have already started with new water run off pipes under the ground on Alton Rd.  But that was only one road and came at a cost to my understanding of over $400 million!  At this pace it will take years to complete the whole city.  My solution is simple.  Stop all of the building if the water has nowhere to go.  Miami and Miami Beach are nothing more than concrete jungles now.  I love when people from out of town say how lovely and lush all of the palm tr...
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By Marco Giancola, Realtor (305)608-1922, Miami Beach Florida
(Beachfront Realty)
Pharrell Williams must finally "be happy" – the producer and singer-songwriter sold his Brickell penthouse for $9.25 million.After being on and off the market since 2012, Williams finally sold the two-story unit at the Bristol, at 2127 Brickell Avenue. His former penthouse, with spiral staircase that leads up to a translucent dome, has five bedrooms, six and a half bathrooms, seven parking spaces, a rooftop terrace with a pool and summer kitchen, and a home theater.Williams first listed the 9,000-square-foot unit in 2012 for $16.8 million, then reduced it to to $10.9 million which I reported on last year.County tax roll records show  paid $12.525 million for the unit, which previously belonged to developer Ugo Colombo, in 2007. Colombo developed the 146-unit building in 1993. 
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By Morris Massre, Real Estate Instructor Broward County Florida
A hotel is not just a place to sleep.Unless you're just plain cheap.  I was thinking about this recently as over the years I have come to find that not all hotels are the same and you certainly get what you pay for.  A hotel should be warm, inviting to the soul, appealing to the eye, nd make you feel good about your stay in the area.  You should actually want to go back there after a day out sightseeing or working.  If you get depressed in a hotel then you're certainly in the wrong place. Staying in a Hilton or Marriott, for instance, really gives me a sense of peace knowing that I am staying somewhere that is not only luxurious, but cares for my safety.  You are not going to get that feeling at a Motel 6. I have a friend that recently wanted to save a few bucks while out of town on vac...
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By Jamey Prezzi Miami & Miami Beach Luxury Condos & Homes, Miami Beach & Miami Luxury Homes and Condos
(ONE Sotheby's International Realty )
Saying goodbye to a home you have owned for years can be hard.We have found that many sellers in this position have a hard time letting go, and this puts them in a challenging position when it comes time to listing and selling the property.Letting Go. It’s Hard To Say Goodbye Miami Real Estate Tips Key Takeaways1. If you are ready to sell, it’s time to detach.2. Start by removing personal items around the home: family pictures, keep sakes, etc. (Depersonalize)3. Remove anything valuable and elements that you don’t want buyers to see.4. You want buyers to see themselves making the property their own; that’s a good thing.5. In today’s market, if you aren’t serious about selling, maybe it’s not the time to sell?Selling a home in today’s competitive market is challenging from the beginning....
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By Jamey Prezzi Miami & Miami Beach Luxury Condos & Homes, Miami Beach & Miami Luxury Homes and Condos
(ONE Sotheby's International Realty )
How long will it take to sell my Miami house is one of the first questions that we receive from sellers when they call us to put their property on the market. Due to the nature of our market (the high amount of investors and the press that goes along with it), the process of selling a house from the time to sell, how long it will take to sell and the pricing can often be misunderstood.In today’s Miami real estate market it comes down to two main factors:  Inventory and pricingWhen I take a look at the MLS today for Miami Beach, some properties are selling within the first 38 days while others are taking more than a year. There are many reasons why a house would take a long time to sell, but it doesn’t have to be that way.Let’s start with the basics.Today’s Inventory: How much inventory ...
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By Marco Giancola, Realtor (305)608-1922, Miami Beach Florida
(Beachfront Realty)
Miami -Dade County still dominates the state with sales. Figures just out for April MLS sales boasts $1.04B in single family home and condo sales.Non-distressed properties on average are up 10% from last April. Figures show that even with steady increases in 57 of the last 59 months we are still at 2004 price levels. In the worlds eye we are still a bargain and they are fueling the market. Indicators are pointing to this trend to continue. Let us not forget the endless blue on blue and gorgeous weather year round-think that helps?
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By Yanai Nassar
(Brickellmania LLC)
Looking to buy a unique penthouse at an affordable price? Then keep reading and discover a hidden jewel that could be yours! Be captivated by its oversized terraces, the gorgeous views of the Miami skyline, its high ceilings, and the lovely natural lighting. Call for an appointment NOW before it is gone!Listing DetailsPenthouse For Sale in Coral Way3180 SW 22nd Te PH105, Miami FL, 33145Price: $430,000MLS number: A10081108Bedrooms: 2Bathrooms: 2Square Footage: 1285Parking: 2 CoveredCall Yanai Nassar at 786-426-9484 to arrange a showing.Search current inventory of Condos for Sale in Coral Gables You Will Love the Views of Miami Skyline From this Beautiful PenthouseWonderful opportunity to own a stunning penthouse in Coral Way, one of the most desirable areas of Miami Dade County. This amp...
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By Jamey Prezzi Miami & Miami Beach Luxury Condos & Homes, Miami Beach & Miami Luxury Homes and Condos
(ONE Sotheby's International Realty )
We have become spoiled in Miami because we are used to a lot of cash buyers. However over the years, Ognjen and I have successfully worked with many different types of buyers and loan products. Today’s market is changing, and there are more financing products out there for buyers with low money down.There are a lot of nuances in our market when it comes to financing, and there are differences with a condominium purchase and a single family home purchase.  It’s important that you have skilled professionals working with you who can best determine (when possible) if a property is likely to qualify for financing with low money down.You must have an experienced team working for you so you don’t want time accepting offers that do not qualify.Key Takeaways There is a difference between financi...
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By JM Padron, CCIM, CCP, CCIM, CCP, International Commercial Broker
(THE JMTEAM NETWORK)
Cual es el Valor de una Propiedad Comercial? Normas Internacionales de Valoración define el valor de mercado como "el valor estimado al que una propiedad debe cambiar en la fecha de valoración entre un comprador y un vendedor en una transacción de libre competencia después de una comercialización adecuada en la que las partes actuarían con conocimiento, prudencia, y sin coacción ".El valor de mercado es un concepto distinto del precio de mercado, que es "el precio al que se pueden realizar transacciones", mientras que el valor de mercado es "el verdadero valor subyacente", de acuerdo a las normas teóricas. El concepto se invoca con más frecuencia en los mercados ineficientes o situaciones de desequilibrio donde los precios vigentes en el mercado no son el reflejo de cierto valor en el m...
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By JM Padron, CCIM, CCP, CCIM, CCP, International Commercial Broker
(THE JMTEAM NETWORK)
Miami International Airport (MIA) achieved another historic milestone, after adding 44.3 million passengers in 2015. The official report of the Miami-Dade Aviation Department announced a substantial increase of 8.3 percent over the previous period. All backed by the freight service that equaled the record of 2.17 million tonnes in 2014. This record confirms the position of the airport in Miami among the top 10 in the country and would place it among the 20 busiest in the world when the international association of airports will soon present its annual report. According to the report, MIA recorded a 11 percent increase in passengers on domestic flights, to reach a total of 23.1 million passengers and 5.5 percent on international routes, to add 21.2 million. "Despite the economic slowdown...
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