South Florida Real Estate
Archive for the 'Neighborhood News' Category
I love chocolate, especially dark chocolate, so I am thrilled that the first ever Miami Fine Chocolate and Food Show is coming to Pinecrest Gardens this weekend. One of my favorite chocolate stores, Romanicos on Coral Way, will be there as well as Valor chocolates from Spain. Romanicos’ chocolates are pure artistry from their Tropical Collection, with painted fish motiffs, to their Nostalgia Habanera, with chocolates filled with dulce de leche and guava paste. My favorite from Valor is their 70% dark chocolate bar with banana. Pair any of these with red wine and…heaven!
I am looking forward to tasting chocolate from all of the chocolatiers that I don’t know yet and adding to my current stash.
You know what they say about real estate, location, location, location, and boy does 1542 Drexel Avenue #205 have it. Location: 2 blocks from Lincoln Road. Location: 1 block from Espanola. Location: 3 blocks to the Ocean. In the heart of Miami Beach, yet on a quiet, low traffic street, this fully furnished unit is the perfect Miami Beach Pied-A-Terre. Rarely available one bedroom. The last one bedroom for sale in this boutique building was in 2011!
If you are looking for an investment property instead of a weekend get-a-way, the last fully furnished unit that rented in this building was a studio that rented for $1500 per month! Listed for sale, fully furnished (minus the art work) for $170,000.
Several recent articles have highlighted the issue of preservation vs private property rights. I want to clarify that I am for historic preservation of relevant buildings but I think if it is done retroactively, it infringes on private property rights.
Both the Miami Herald building, sold to Genting Malaysia, and a Robert Browning Parker home in Gables Estates, currently listed for sale by Helen Nicastri of Coldwell Banker, have come before preservation boards with different outcomes.
A home in north Gables on Minorca and another in Miami Beach on Star Island are further examples of preservation boards trying to designate properties as historic when new owners purchased the property and applied for demolition permits.
If a property is designated as historic, it cannot be torn down and there are restrictions on the amount and type of renovations that can be done. You can check with local preservation boards to see if the property you are purchasing is on their list prior to purchasing, but if it is not on the list should a local board be able to designate it when you apply for permits to demolish or refurbish? To protect your investment, if you are planning to purchase a property built in the 1920′s-1960′s (Old Spanish, Art Deco and MiMo architectural styles) and want to renovate or demolish it, contact the local historic preservation board during your due diligence/inspection period.
Focaccia Bistro in the Grove is a small, charming restaurant that reminded me of the more intimate restaruants in San Francisco. On the night that we went, the place was at capacity, which overwhelmed the staff but did not detract at all from the pleasant experience. It was not noisy, suprising giving how close the tables are, and it was easy to have a conversation. The wine on special that night was a Sangiovese blend for $35 that was very nice and accompanied my seafood pasta, pictured above, perfectly.
Walkable neighborhoods are increasingly important to buyers. South Miami Avenue’s tree-lined street is a great example of what makes a neighborhood walkable: nice sidewalks, shade, distance between sidewalk and street and proximity to shops, restaurants, parks and work. This neighborhood is walking distance to Brickell/Downtown Miami.
Del Sur Market and Restaurant in Pinecrest, which was voted best restaurant in South Miami-Dade of 2012 by the Miami New Times, is a great little restaurant tucked into a small strip mall in Pinecrest . I stumbled across it several months ago, misguided by the word “Market” in their name. I went looking for Argentine cuts of meat for a parillada mixta I was having at my house. Turns out their restaurant has been so successful, they expanded the restaurant portion and shrunk the market portion of their space.
Last week I went with a group of friends and family for dinner. All of us had wonderful, fresh, homemade dishes (all of them were meat, though they do have a nice selection of pastas, chicken and fish) accompanied by two very nice red Argentine wines recommended by the owner, Hernan. We had such a wonderful experience that several of us when back with a couple of first timers the following week. This is one restaurant I am eager to go back to again and again. Not only is their food delicious, eating here will not break the bank!
Like most friends and co-workers I know, I have been dealing with many older relatives and neighbors in the last couple of years. Many of them are living independently, still driving, and have increasing health issues. An article in Tuesday’s Miami Herald, Assessing an aging relative, made me think of how difficult it is to tell whether or not an older person is truly okay living on their own or whether or not they may need assistance. The labyrinth of social and medical programs that are out there to help people age in their homes are confusing and hard to navigate. Luckily, Nancy Stein, an adjunct professor at UM, found the same issues facing her in caring for her parents so she brought the information together on a website called Seniority Matters.
The Village of Pinecrest has made a concerted effort to provide programming for seniors at the parks and community center, has a quarterly Pinecrest Pioneers luncheon for residents over 80 years old, and, in recognition of how much history our seniors provide, has been recording their oral histories. All of these local services and resources help our seniors remain involved in the community, live independently, and give all of us caregivers peace of mind and assistance when needed.
I have had several long-time customers ask me what I think is going to happen to the Miami real estate market come January. Although I don’t have a crystal ball, and the real estate market in Miami in general has been doing well with inventories down and prices up, with bidding wars happening as multiple offers come in, I decided to use a building that I am currently working on to throw a bit of a reality check into the current market euphoria.
In October of 2011, one bedroom units in this building were selling for between $45,000-$50,000. The last sale this year was for $90,000 and there are multiple offers on a foreclosure listed for $99,900. According to property tax rolls, nine out of the 39 total units in the building are in some stage of foreclosure. Whether or not any or all of them will go into foreclosure, short sale, or have a loan modification worked out, is yet to be seen, but if you look at the iMapp, Inc. snapshot of what is going on around this building, I have to believe that there are still going to be buying opportunities out there next year and that prices could go down. All of those little hammers are properties that are in the foreclosure process. Since the process takes over a year, where these all are in that process and how fast they come on the market will all come into play in the supply and demand cycle of 2013.
Not all markets look like this. Brickell has a lot less hammers. If you are a buyer, find out what the foreclosure map in the area you are considering purchasing looks like. Don’t be discouraged, just be realistic in your offer and your expectations as to where the market really is. If you are a seller, you also need to look at the map in your area. The map, along with relevant sales in your area, will help you set your list price in a range where your property will sell. Whether you are looking short term or long term, your perspective on where the real estate market is headed in 2013 depends on whether you are a glass half full or half empty person. Oh, and then there is the fiscal cliff…. Where do you think Miami’s real estate market is headed?
This beautifully updated north Pinecrest home is ready for your personal touches. Granite kitchen counter tops, accordion hurricane shutters, 3 year-old roof, refinished pool, and crown molding throughout, are just a few of the many improvements that make this a great buy. It is located on a builder’s acre corner lot in prestigious north Pinecrest, walking distance to Pinecrest Elementary, Pinecrest Gardens, the Pinecrest Community Center and Library and Wayside Market.
Whether you are in town for Miami Art Week 2012 or just visiting Miami to enjoy our beautiful city, you will want to visit one of these restaurants. Although Miami is surrounded by water, there aren’t that many waterfront restaurants. In my opinion, these are, in my opinion, the best waterfront restaurants in Miami.
Il Gabian0 at Met One
Crazy About You at the Mark
Gibraltar at the Grove Isle Hotel and Spa