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Archive for the 'Miami Beach' Category
Free Things To Do In Miami: New World Symphony Wallcast
Tomorrow night at 7:30, the New World Symphony Wallcast is From the New World. Bring a blanket and picnic dinner for a wonderful evening of culture on Miami Beach.
Canyon Ranch Grill – Where’s JWo Answer
- Canyon Ranch Grill, Miami
The answer to my Where’s JWo post on 8-3-2011, is the Canyon Ranch Grill at the beautiful Canyon Ranch Hotel and Spa on Miami Beach. Once home to the Carillon Hotel, an epitome of the Miami Modern style of many of the Collins Avenue hotels in the 1950′s and ’60′s, Canyon Ranch is a restored, expanded and updated luxurious destination.
Miami Real Estate: New Single Family Home Listings
New single family homes listed since July 1.
- 8 in Coral Gables. Priced from $349,900 to $13,475,000
- 7 in Pinecrest. Priced from $585,000 to $2,099,999
- 5 in Coconut Grove. Priced from $450,000 to $1,300,000
- 3 in Miami Beach. Priced from $399,900 – $8,650,000
Miami Beach Real Estate: Market Summary for Single Family Homes
We are half way through the year and the market has been moving. Sales are up, mostly due to lower prices. As of June 30, the single family home market in Miami Beach for the year so far is as follows:
Closed sales: 94. Low of $190,000 to a high of $25,500,000. 9 of the closed sales were foreclosures, 6 were short sales. Only 16% were distressed sales. 49 closed in the second quarter.
- Pending sales: 57. Low $200,000 to a high of $14,900,00. 2 of the pending sales are foreclosures, 23 are short sales. Almost 44% distressed. 21 went pending in the second quarter.
- Active sales: 282. Low of $205,900,high of $49,995,000. 16 are short sales, 1 is a foreclosure. Only 6% distressed. 76 of the active sales were listed in the second quarter.
What does this mean if you are a seller? The good news is that the majority of the closed sales are not distressed sales. If you are priced right for a buyer’s market, you have a closing window of opportunity to sell at a higher price than you will get later this year. I think prices of active listings are going to come down as we come closer to the end of the summer buying season.
What does this mean if you are a buyer? Many buyers are still looking for a “deal” without realizing that they are already looking at one. Just because a property is not a foreclosure or a short sale, does not mean it is not a good deal. A lot of sellers have come down significantly in their pricing, in large part due to the pressure of distressed properties on the market. As the distressed properties listed for sale decrease, they become less of a factor on the overall market. If you are financing your property and only looking at distressed sales, you are going to have even more frustration as you are competing with cash buyers.
Note: These numbers are going to change a bit due to fluctuations at the end of the month when a lot of properties status changes, but those changes don’t get recorded in the MLS until the following month.
Free Things To Do In Miami – Yoga
Thanks to the Free Yoga Foundation, you can stay in shape, get in shape, or just help relax with yoga for free! Currently available in Kennedy Park, Margaret Pace Park, South Pointe Park, North Shore Open Space Park and C.B.Smith Park. Coming soon to other areas in south Dade, Kendall, and Aventura, so stay tuned.
Although it is free, you may want to consider a donation, considering how expensive gym memberships and individual classes are!
Miami Beach, FL Real Estate – Market Summary
1835 W 27 Street
Market information from the Multiple Listing Service for single family homes for the month of January are as follows:
- Closed sales: 16. 2 short sales 2 REOs. 7 were cash sales, including the one for $3.86 million.
- Price range of closed sales: $3.86 million – $375,000
- Pending sales: 20. 3 short sales, 4 REOs
- Price range of pending sales: $2.950 million – $230,000
- Active listings: 316, 42 of which were listed in February. 18 short sales, 1 REO. 164 are waterfront
- Price range of active listings: $50 million – $199,000
Distressed sales are still making up the larger part of the market in terms of listings going to contract. Based on the number of active listings, distressed sales make up about 8% of the market, but half of the closed sales.
What does this mean if you are a buyer? Based on the number of active listings to closed sales, there is still a lot of inventory to work through, so it is still a buyers market. Once you narrow down your price range and specifications however, there won’t be as much to choose from, so use the statistics and market information to negotiate your price. If the house you like is a regular sale and it is priced right, you won’t have as much room to negotiate as you will on one that is overpriced. If you are going to make an offer on a short sale bring patience and realize that when the bank finally does answer, they may ask for more than what you offered, even if what you offered was the full asking price.
What does this mean if you are a seller? You have a lot of competition so price really does matter. Look at the active sales that most closely match your home in terms of size, location, updates, lot size, amenities. Consider pricing it 10-15% below your closest competition, make sure it has great curb appeal, and de-clutter and freshen up the inside with some elbow grease and a fresh coat of neutral paint. The good news is that if your house is priced right compared to your competition, it will sell.
Miami Beach, FL Real Estate – Market Summary
5 Star Island Dr., Miami Beach
Market information from the Multiple Listing Service for single family homes for the month of January are as follows:
- Closed sales: 8. Two were short sales, two were REOs. 4, including the $2.7 million sale, were cash sales.
- Price range of closed sales: $2.7 million – $370,000
- Pending sales: 58. 27 short sales, 8 REOs
- Price range of pending sales: $6.8 million – $195,000
- Active listings: 353. 26 short sales, 4 REOs
- Price range of active listings: $50 million – $199,000
Distressed sales are still making up the larger part of the market in terms of listings going to contract. Based on the number of active listings, distressed sales make up about 8% of the market, but half of the closed sales.
What does this mean if you are a buyer? Based on the number of active listings to closed sales, there is still a lot of inventory to work through, so it is still a buyers market. Once you narrow down your price range and specifications however, there won’t be as much to choose from, so use the statistics and market information to negotiate your price. If the house you like is a regular sale and it is priced right, you won’t have as much room to negotiate as you will on one that is overpriced. If you are going to make an offer on a short sale bring patience and realize that when the bank finally does answer, they may ask for more than what you offered, even if what you offered was the full asking price.
What does this mean if you are a seller? You have a lot of competition so price really does matter. Look at the active sales that most closely match your home in terms of size, location, updates, lot size, amenities. Consider pricing it 10-15% below your closest competition, make sure it has great curb appeal, and de-clutter and freshen up the inside with some elbow grease and a fresh coat of neutral paint. The good news is that if your house is priced right compared to your competition, it will sell.
5601 Collins Avenue #810, Miami Beach, FL
According to AccuWeather.com, it was 29 degrees in New York and Boston yesterday, and 74 degrees on Miami Beach. This is the view from every room in this beautiful one bedroom apartment, smack dab on the beach. Instead of shoveling snow, you could be frolicking in the surf, playing volleyball or taking a leisurely stroll down the beach.
Wish you were here?
Miami ING Marathon Route – Plan Your Driving Accordingly
The ING Miami Marathon is this Sunday and, with a projected 20,000 runners, there will be traffic disruptions along the route. Please plan accordingly or bring plenty of patience and courtesy. This is a pretty big event that showcases our beautiful city and we want to roll out the welcome mat. Traffic disruptions will probably start around 5:30 a.m. and last unit noon.
If you are a runner, consider joining the fun in either the 5K, 1/2 marathon or full marathon.
Miami Beach – Last Day of Art Deco Weekend
Flamingo Plaza - 1051 Meridian Ave.
Today is the last day of Art Deco Weekend on Miami Beach. Take advantage of our glorious Miami weather (Boston had a high of 26% yesterday) and head to the beach to learn about our backyard. Events and tours start at 10:00 a.m. so if you are a football fan, you still have plenty of time to tour and get home for the Patriot/Jets game at 4:30. Or better yet, enjoy it at one of the many restaurant/bars, such as the Clevelander, Big Pink or just about any other bar on the beach!
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