Tag: Selling Real Estate

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Commercial Real Estate Selling Small Business

Travel Adventures Start in South Florida

Traveling: Antigua Casona Hotel in Cusco Peru

One of my favorite things about living in South Florida is how easy it is to travel anywhere from here. Miami International Airport (MIA) is one of the busiest airports in the country with over 80 airlines serving 150+ places around the world. We also have the Fort Lauderdale and Palm Beach airports, so plenty of airlines and airfares to choose from.

This year, my family was invited to a wedding in Lima, Peru. What an amazing country! They truly understand the meaning of customer service. Miami’s hospitality industry can definitely learn something from the Peruvians.

After the wedding, we took a side trip to Cusco and stayed at this amazing hotel, the Antigua Casona. From a real estate perspective, it was incredibly interesting as the owners rebuilt a falling down house into this intimate, boutique hotel. That in and of itself is enough for an entire blog post, but I’ll save that portion for another day.

What I found so compelling about this hotel was how they managed to integrate the local artwork,

the theme of the area (Incan architecture), the weather and altitude (almost 15,000 feet above sea level, which is rough on Miamians) and the food into an overall incredible experience.

Leaving the hotel at 5:00 a.m. for a Machu Picchu trek? No worries they have a picnic breakfast ready for you. Being affected by the altitude? Again, no worries, every night they bring a thermos with hot water and a local mint tea to help with the effects. In the morning, they have a coca tea to help. A little chilly? Every evening with the tea service, they place covered hot water bottles under the covers on each side of the bed.

The customer service and the attention to detail, anticipating what the client might want or need was beyond anything I have experienced in my travels and made me wonder, do I go far enough in providing that experience to my real estate customers? Does my company? If not, how can we do better?

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Coconut Grove Commercial Real Estate Coral Gables Florida Life Luxury Real Estate Miami Design District Neighborhood News Selling South Miami

5 Ways Retailers Can Engage Consumers At Brick and Mortar Stores

Instagram Worthy – Miami Design District

 

  1. Make it easy for consumers to find what they are looking for. In a recent blog Is Veganism Going Mainstream, I discussed how Marshalls was making it easier for vegan shoppers to identify purses that coincide with the shopper’s values.  In addition to Marshalls highlighting vegan purses, Whole Foods also makes it easy for consumers following specific dietary guidelines, such as Paleo, Whole 30, Gluten Free etc., to find products that meet their requirements without them having to read every label.
  2. Make it experiential.  Whether you own or operate an individual store, a chain of them or a shopping center, the consumer has to experience something beyond the shopping itself.  Retailtainment was first used back in 1999 by sociologist and author George Ritzer
  3.  Make it interactive.  Books and Books, the independently owned local bookstore is amazing at interacting with their customers.  In addition to having knowledgeable staff, they have a cafe with great food, spaces for getting together and socializing and they offer book signings and readings by authors.  Patrons come early have dinner or a cocktail, socialize, buy the book, and interact with the author.  You can’t get that from online shopping and, in spite of technology (or maybe because of it) people want to have places where the can interact.
  4. Make it Instagram and Pinterest worthy:  Instagram, Facebook, Pinterest and the rest of social media has made it essential that whether it is food, clothing, real estate, spaces and places, whatever it is you are selling has to be Instagram and Pinterest worthy.  Two places in Miami do that extremely well.  Miami Design District and Wynwood.  Don’t believe me?  Go into Instagram and #miamidesigndistrict to view 158,000 posts or #wynwood to view over 2.4 million posts.
  5. Make it about community.   Several of the places already discussed such as Books and Books, the Miami Design District, and Wynwood are great examples.  FootWorks in South Miami has running clubs and helps train you for half and full marathons, Dharma Studio in Coconut Grove offers free yoga classes three times a week in the Grove, and Aventura Mall has all sorts of events scheduled throughout the year.  If you are in an area that has one, check with your local Business Improvement District and see how you can get involved to bring more traffic to your store.

 

 

 

 





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Commercial Real Estate Investment Real Estate Neighborhood News Restaurants

Miami’s Vegan Restaurant Scene Has Exploded!

Handcrafted Cheese Board at Plant Miami

Handcrafted Cheese Board at Plant Miami

 

As predicted by Baum+Whiteman, experts at creating destination-dining attractions, 2018 has been the year for plant-based dining and Miami is no exception.  Ranked number nine on PETA’s 2018 Top Ten Vegan Cities, Miami has a diversity of vegan restaurants.

In addition to the more informal dining options such as Choices, Eden and Eden, and Glam Vegan, there are some pretty upscale options as well.  Plant at Sacred Space is one of my favorites and you can’t beat the beautiful location.

Since Food and Beverage continue to be the retail darling in many centers, if you are a landlord looking to bring traffic to your space, or if you have a unique setting, consider a restaurant such as one of these top vegan restaurants in Miami as a tenant.





Categories
Buying Commercial Real Estate Luxury Real Estate Selling

New FIRPTA Rules Take Effect February 17, 2016

 

1450 BrickellTwo changes made to the  U.S. Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) will go into effect February 17.  While one affects foreign investment in publicly-traded real estate investment trusts (REITs) and should make commercial property in the U.S. more attractive to foreign buyers, the second one affects foreign buyers of residential properties.

The change relating to ownership of U.S.  REITs is the doubling of the maximum amount of stock a foreign investor may have in REITs from 5% to 10% and allowing foreign pension funds to invest in REITs withoug having FIRPTA apply.  Ralph W. Holmen, associate general counsel for the National Association of Realtors® (NAR) states that these changes “… are conservatively estimated to boost foreign investment in U.S. commercial real estate by $20-$30 billion per year'”.

In order to cover the costs associated with the two commercial provisions, the withholding amount for residential properties will increase from 10% up to 15% on properties that are over $1 million, whether it is used as a primary residence or not.  For properties $300,000 or less or $300,000 to $1 million, the rules don’t change.  Under $300,000, no FIRPTA tax is paid if it is to be used as a primary residence.  From $300,000 – $1 million, the current 10% FIRPTA tax will not change as long as the property is used as a primary residence.

Buyers need to know that although most settlement agents do withhold the FIRPTA tax, if they do not, the buyer is the one that is legally responsible for the tax owed if it is not withheld.

 

 





Categories
Buying Pinecrest Selling

12085 SW 65 Ave Is An Updated Entertainer’s Dream In Pinecrest

DSC_1174_5_6EnhancerThis tastefully updated 4 bedroom/4 bath home is an entertainer’s dream.  It has an extra office/den, a huge family room with a wetbar, a basketball court, an oversized swimming pool surrounded by a covered patio with remote-controlled screens, and sliding doors that open from all of the living areas directly onto the patio.  The extra large kitchen features two seating areas, a large breakfast/snack bar and an island, double ovens, a warmer, and granite counter tops.  This home is move-in ready.





Categories
Buying Foreclosures Selling

More Changes To Affect The Florida Real Estate Market In 2014

On December 20 I wrote a post about some changes to federal laws that may affect Miami’s real estate market in 2014.  I neglected to include two more (well one is a Florida State Law, but I will include it here anyway).  The first one I thought would be extended by now, but since we are coming up on New Year’s eve I thought I should mention it in case Congress lets it lapse.  It may not be that big of an issue since, due to the rising real estate prices, many real estate owners are no longer under water but the tax deduction on forgiven mortgage debt will end on January 1, 2014.  Although there are many benefits to short sell, even without the tax benefit, instead of foreclose the sun-setting of this deduction could decrease the number of short sales sellers participate in.  Should seller’s stop participating in short sales, this will put pressure on already short inventory since the foreclosure process usually takes longer.  Which leads me to the second change.

HB 87, the Fair Foreclosure Act, went into effect on June 7, 2013, but we will really start to see its affects in 2014.  Known as the “Speedy Foreclosure Law”, this law will help speed up the foreclosure process.  Prior to passage of this bill, foreclosing on a mortgage took approximately 853 days, which was more than twice the average.  This should help ease some of the shortages in inventory by getting at least a portion of the 350,000 plus foreclosure cases currently tied up in Florida courts through the process much faster.

 





Categories
Buying Selling

Miami Real Estate: Lack Of Inventory Makes For Aggressive Offers

The lack of inventory in Miami’s real estate market resulted in 5 of EWM’s  Coral Gables’ office sales going under contract for above asking and 2 going at asking this week.  Considering we had 17 sales, that bodes pretty well for well-priced listings that are about ready to come on the market.





Categories
Buying Selling

How Will The New Flood Insurance Reform Changes Affect You

Several changes to the previously government subsidized flood insurance program will affect you.  If you are staying in your home:

  • If your flood zone is in any A or V zone, including AE, AB, AH, your flood insurance premiums will be increasing 25% per year until the premiums come in line with the actual flood insurance rates
  • If your flood zone is in B, C, or X, your premiums will increase 20% per year until the premiums match the actual flood insurance rates

If you are buying a home, the new flood rates will affect how much of a mortgage you qualify for.

If you are selling your home, have your flood elevation certificate on hand to provide it to the new buyers.

http://www.youtube.com/watch?v=yCZHWYYrt9A





Categories
Selling

Selling Your Home? Remember To Include Your Closing Costs In Your Calculations

So, you have decided to take advantage of the seller’s market to sell your home.  When calculating what your proceeds will be, remember to take into account your closing costs, which will run between 6 and 7 percent of your contracted sales price.

TYPICAL SELLER’S EXPENSES

 

Courier (federal express)

 

Documentary Stamps on the Deed: $.60 per $100.00 of sales price (Miami-Dade County only)

 

$.70 per $100.00 of sales price (all of the other counties in Florida)

 

E-recording fee: $4.00 per instrument to be recorded

 

Flat Fee Commission ($250.00 EWM Realtors)

 

Lien Search

 

Real Estate Commission

 

Recording Fees: $10.00 first page, $8.50 each additional page

 

Settlement Fee

 

Surtax on the Deeed: $.45 per $100.00 of sales price (Commercial Properties and Residential Properties

 

where a Document conveys more than one single-family residence – multi-family building, duplex)

 

Title Search





Categories
Buying Selling

Punxsutawney Phil Says Spring Is Here!

Phil says Spring is right around the corner because he did not see his shadow.   In Miami’s real estate market it has been Spring for a while.   Traditionally, Spring is the busiest season with sales peaking in April and May.  Our local market has been extremely busy since last year.  As a result, inventories are low and sellers are usually receiving offers as soon as their properties are listed.  If you are thinking of selling your home this Spring.  Now is a great time to list!