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Aug
20

Paramount Bay Condos – Market Report for July 2014

By: Ines Hegedus-Garcia on August 20, 2014

paramount bay condos by miamism.com

Paramount Bay Condos Real Estate Market Report

There are currently 35 Paramount Bay Condos for sale: (same as last month)

  • Highest priced listing is unit PH4602 for $4,899,000 (4 bedrooms / 4.5 bathrooms) **developer unit
  • Lowest priced listing is unit 2109 for $695,000 (2 bedrooms / 2 bathrooms)
  • Pending Sales (properties under contract): 3 (1 less than last month)
  • Closed sales in July: 4 (2 more than last month)

The 4 Paramount Bay Condos sold in July 2014 were the following:

  • Residence 4003- originally listed for $1,625,000 in April of 20014, with several price reductions and finally selling at $1,225,000 ($570/sq.ft.)
  • Residence 2006 – originally listed in September of 2013 and then again in January of 2014, for $1,450,000, reduced to $1,250,000 in June and closing at $1,200,000 ($720/sq.ft.)
  • Residence 706 – originally listed for $1,290,000, reduced a few times and selling for $900,000 ($540/sq.ft.)
  • Residence 2405 – listed for $745,000 and selling for $715,000 ($623/sq.ft.)

The average price per square foot at Paramount Bay from January to July 2014 has been $662, compared to 2013′s average of $596 per square foot.

Average price per square foot on a monthly basis continues to fluctuate but when you look at the overall picture, you see appreciating prices – these are not conservative considering a $66/sq.ft. increase in 7 months.  There are amazing projects being sold in pre-construction in the Edgewater area right now, but this just makes Paramount Bay the more desirable – it is built, you know what to expect, and your water views will never change because of the flow-through units.

The Miamism Sales Team specializes in Paramount Bay and can represent you in the sale or purchase of a condo.  Please contact us ParamountBay@Miamism.com.  We prepare monthly market reports to keep you informed of sales stats at Paramount Bay.

We are now also providing these quick services to help with your real estate needs:

CHECK YOUR CURRENT HOME VALUE

GET A FREE SELLER GUIDE

NAME YOUR SELLING PRICE

For more information about this Miami condo building, take a look at  Paramount Bay Condos written after my visit in September of 2012.  You can also visit www.Paramount-Bay-Condos.com to go straight to source of information.

For further information, please email us at ParamountBay@miamism.com

Condo Name:  Paramount Bay
Architecture:  Arquitectonica
Interior Design:  Lenny Kravitz
Location:  2020 N Bayshore Dr – Miami, FL 33137
Contact:  paramountbay@miamism.com

Aug
15

Surfside Real Estate Market Report for July 2014

By: Ines Hegedus-Garcia on August 15, 2014

Surfside Real Estate Market Report

Surfside real estate market 2012

There are currently  20  Surfside homes for sale: (6 less than last month)

  • Highest priced listing: $6,750,000 for a waterfront estate at 1236 Biscaya Dr.
  • Lowest priced listing: $465,000 for a 3 bedroom / 2 bathroom home at 8811 Emerson Av.
  • Pending Sales: 7 (3 less than last month)
  • Closed sales in July: 8 (5 more than last month)

The 8 Surfside homes sold in July were the following:

  • 8842 Emerson Av – listed in March for $772,500 and closing at $735,000 ($287/sq.ft.)
  • 8834 Froude Av – listed in May for $650,000 and closing at $450,000 ($207/sq.ft.)
  • 625 94th St – listed for $599,000 in May and selling for $580,000 ($426/sq.ft.) *square footage as per tax roll
  • 8942 Harding Av – listed for $757,000 in April and selling for $533,000 (247/sq.ft.)
  • 9040 Carlyle Av – listed for $565,000 in March, reduced to $539,000 in April and selling for $515,000 ($291/sq.ft.)
  • 8950 Byron Av – listed for $549,000 in March, reduced to $539,000 in April and selling for $478,210 ($271/sq.ft.)
  • 9216 Harding Av – listed for $490,000 in April, reduced to $485,000 in May, then again to $480,000 the same month and finally closing at $435,000 ($244/sq.ft.)
  • 8827 Carlyle Av – listed for $500,000 in May with one contract falling through, reduced to $450,000 in June and selling for $410,000 ($206/sq.ft.)

The Surfside homes for sale inventory continues to decrease and homes are selling quickly for close to asking price.  The average Surfside sold price per square foot this year is $287, compared to 2013′s average of $270.  Appreciation continues at a conservative rate and lack of inventory is key for driving prices up.

We have a penthouse listing just 2 buildings north of Richard Meier’s Surf Club, at The Waverly, located on the beach with direct ocean views, for $1,100,000.   It’s a 3 bedroom / 2 bathroom condo with wrap-around balcony and 10′ ceilings.

Waverly 1225 - surfside condo for sale on the ocean

Please give us a call to schedule a showing for this property, it’s vacant and the views will take your breath away.

Remember we don’t just provide these market reports for your information and enjoyment, we are Surfside REALTORS, ready to list and market your property!  We are now also providing these quick services to help with your real estate needs:

CHECK YOUR CURRENT HOME VALUE

GET A FREE SELLER GUIDE

NAME YOUR SELLING PRICE

To sell or buy your Surfside home, please contact us at Surfside@miamism.com

Aug
13

Kai at Bay Harbor

By: Ines Hegedus-Garcia on August 13, 2014

I am loving these new buildings in Bay Harbor Islands.  Modest, modern and the perfect scale.  Here’s a project in pre-construction with an estimated completion date of October/November of 2015.

Kai at Bay Harbor

Kai at Bay HarborKai at Bay HarborKai at Bay Harbor  hero_5

Kai at Bay Harbor is designed by Arquitectonica with a total of 7 floors and 57 residences.  There are 1 to 3 bedroom residences available and it’s located on the North side of the east island in Bay Harbor with west exposure on the canal, overlooking single-family homes of Bay Harbor east island.

Kai at Bay Harbor Location Map

We told you about Riva Bay Harbor a few weeks ago, which is already built – but here you have another gorgeous project in an amazing location and pre-construction pricing ranging from $515,000 to $1,225,000 for designer-ready units.
Built by 3D Developers made up of 3 development groups that decided to join forces:  Brick O., Equipo 18, and Blue Sky Developers.  (From Venezuela, Ecuador, Colombia and Argentina)

Kai at Bay Harbor Residence Features

  • Glass enclosed balconies
  • European style cabinetry
  • Marble floors in baths
  • Jacuzzis in Master Baths
  • Polished granite countertops
  • Top-of-the-line appliances

Kai at Bay Harbor Building Features and Amenities

  • Pool deck and swimming pool
  • Exterior lounge areas
  • Fully-equipped fitness center
  • 24 hour front desk and concierge
  • Marina

I don’t often get excited about pre-construction projects in Miami and can still count the ones I love in one hand (The Porsche Tower , One Thousand Museum by Zaha Hadid , Beach House 8, and One Ocean South Beach.) What I love about Kai is not only the scale, but the modest pricing which will make these fly off the market.

We can send you floor plans, brochure and deposit structure upon request, just email us at kai@miamism.com

Condo Name:  Kai at Bay Harbor
Architecture: Arquitectonica
Developer:  3D Developers
Location:  9940 W. Bay Harbor Drive, Bay Harbor Islands, FL 33154
Contact:  kai@miamism.com

*4/13/2014

Aug
11

Neutral Miami Real Estate

By: Ines Hegedus-Garcia on August 11, 2014

You hear it so much that it’s ingrained in your brain – when selling your Miami Beach home, go neutral – but why?

People say I have a gift for color, my mom remembers me as a little girl painting color charts and experimenting with color hues and values instead of drawing stick figures.  I did a lot of color consulting in my architectural business before going into real estate (and now offer that service to our clients).  So let me tell you a little about color.

Color and Miami Real Estate

As in Real Estate, there are emotions associated with color – our senses are heightened and we react to certain hues and certain feelings come out with certain colors.  Unfortunately, we cannot generalize that red will make you angry, blue will sooth you and yellow will make you indecisive.  The psychology of color is a lot more complicated than that and different colors affect different people in different and unpredictable ways.

Just yesterday, I was asked to visit some dear friends’ home to help them with color.  This is a married couple who are very compatible and at the same time very different.  While one of them wanted blue, the other one felt blue made them uncomfortable.  I’m not going to go into details about the colors that were finally chosen, but the whole point of this is that when you are ready to sell your Miami Beach home, you will have the ability to control certain aspects of how people will feel when they walk into your home.

When you are competing against so many other properties for sale, wouldn’t it make sense for you to try to make that first visit as pleasant as possible, without instilling feelings that are out of your control?  That’s the reason for neutral.

Keeping colors in the off-whites and light beige color scheme is not only the best way to feature elements within a property, but the best way for people to be unbiased when viewing your Miami or Miami Beach home.

*originally published on July 23, 2008*

Aug
09

Miami – safe or unsafe

By: Ines Hegedus-Garcia on August 9, 2014

CSI: MiamiSome of you have commented about “Miami’s safety” and it is a subject I would have never come up with on my own.  I remember living in Tallahasse, Florida my first year of college and people asking me with a look of shock and surprise “You are from Miami?  Wow, that must be scary!”, or “The furthest South I have been in Florida has been Orlando, I would never go to Miami”.

We even had a customer call us from our website, looking for waterfront property with Marina for his 60′ yacht ask us if the buildings we were recommending were in a “safe neighborhood”. (oh…with 60′ slips you’re safe…..you really need to worry about those prime waterfront condos with slips 40′ and under).

I have to admit that I always found those remarks not only funny, but quite strange.  I used to even think that anyone saying things like that must lead very sheltered lives.

Here’s the scoop.  Like any major Metropolitan city, there is crime.  I’ve lived in Miami for 26 years and have never been held at gun point (THANK GOD FOR THAT), have never seen a gun pointed at anyone (AGAIN…THAT’S GOOD NEWS), and have never been in a hostage situation (THAT’S A RELIEF!).

We have such a bad reputation because of all those Miami Beach TV shows and movies- Miami Vice, CSI Miami, Bad Boys, Scarface….(you get the picture….well the wrong one at that).

My kids play out in front of our house, they even walk to the recreation fields and to the boardwalk by Miami Vicethemselves.  I have left my car open overnight and woke up to find it untouched, I have even slept with my front door unlocked and nothing has happened.  The Miami Shores Police Department is fantastic, with a quick response time and regular patrolling.  The same can be said about many other areas in Miami.

With a big city comes some responsible crime prevention that small towns might not even consider.  A lot of homes have alarms; when leaving a mall or shopping center it is smart to walk out with keys in hand instead of rummaging through a purse while talking on your cell phone.  Leaving an unlocked car with the keys in the ignition while stopping to buy milk in a convenience store is not a good idea.  Making sure the suited valet parking attendant taking your keys in front of a restaurant is really a “valet” (don’t laugh, that happened to some friends of ours).  Don’t forget to check out visitor safety tips on the Dade-County website.  But most importantly, common sense and awareness are key to staying safe.

So there you go, a glimpse of Miami’s safety – something important when buying or selling your Miami Beach home.  On a serious note, it’s always good to contact the local police department and ask them for crime rates per capita…one thing I LOVE to do is chat with the local postal workers, they know the ins and outs of all communities.

(This post was originally written on April 26th 2007 – republished because it is so relevant)