Out of all the Miami murals out there, this is one of the ones that makes me pull out my camera to photograph.  Something about it draws me in and was so happy to see that I’m not alone.  This time it was captured by Phillip Pessar and called “Great Mural Miami.”  The artist is Subi Roberto and I encourage you to visit her website, TheArtistSubi.com to learn more about her and how the piece was produced. Thank you Phillip for the great shot!

….another Miamism !!

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How do you define Miami Luxury Real Estate?

Believe it or not, the answer is not as clear cut as you think.  People’s definition of luxury varies depending on what they have been exposed to and we find ourselves asking our clients to please define what they mean by “Miami Luxury Real Estate”.

For people moving from other parts of the US – luxury may mean amenities offered in a particular Miami Beach Condo or even a particular neighborhood.  Does the building have full amenities like valet parking, 24-hr security, concierge, pool, gym, spa.  Or does the neighborhood have golf, private beaches, and tennis.

Luxury Real Estate is not only defined by price (although it is definitely a main factor).  There are older buildings in Miami that have great amenities, high monthly maintenance fees, but the actual prices of the residences within the building complex are affordable.  Examples of these type of buildings are Quayside Towers, The Jockey Club and The Cricket Club.  These are buildings with great reputations and sought after even when you compare them to prime Miami Beach Real Estate.

Then you have Fisher Island Real Estate.  Talk about exclusive!  When you talk about Luxury Real Estate in Miami, Fisher Island comes up first.  A private island, accessible by Ferry, with Golf, Restaurants, shopping, Tennis….and so much more.  Celebrities like Oprah, Andre Agassi and Boris Becker own Fisher Island Real Estate.  But if you have ever seen properties within the island you will know that a lot need updating and reflect finishes from the 80′s when the buildings were constructed.   But what defines Luxury in Fisher Island’s case is security, amenities and lifestyle.

Miami Beach Real Estate is in a class of its own – South Beach offers the latest and trendiest and although my architect’s eye can catch minor design flaws, the views, the finishes and the location does not get any better.  When I think of South Beach Luxury Real Estate, 2 buildings come to mind: Apogee and The Continuum. But when it is Miami Beach Luxury Real Estate, Aqua-Allison Island as well as Canyon Ranch are the ones that pop to mind.

The Miami Lifestyle is about Luxury without a doubt and just by living here and experiencing our world, you will be surrounded by luxury, culture, great people and a beautiful place.  Keep in mind that there are hundreds of other examples (I only named a few).  So now you will understand us when we ask, can you expand on what you mean by Miami Luxury Real Estate (we’re not just being snooty….we’re being objective).

**originally published on July 28, 2008**

Hang on to your seats! The annual Miami Boat Show is here! It started yesterday and ends on Sunday February 20th, 2012.  Everywhere you look in Miami (where there’s water), you’ll see a crowd and may see some crazy sights.  Take this capture, for example, by Nilton Kodama, aka npicturesk, who is an airline pilot and avid photographer from Brazil.  If I wouldn’t know any better, I would think that was a toy helicopter on top of that sweet looking boat, but look again!

….another Miamism !!

** Share your MIAMISMS and we will feature them!! send them to us via email (info@miamism.com), Facebook, Twitter (@ines), or post them on Flickr in the Miamism Group **

NOTE: this and other miamism photos are copyrighted© – contact owner for permission

I wrote the following article back in December of 2007 and wanted to share it again because of all the different urban issues we have been seeing in Miami – from the #NoWalmartinMidtown battle, to the casino proposal just North of downtown Miami.  In order to have an opinion on either of these subjects, we must understand how these 2 proposed projects will affect our urban core and will have to change existing urban infrastructures that work.  (I will be writing about the casino in the near future, but warning….strong opinions to come your way!)

Most of you know that I have a bachelors degree in architecture from The University of Miami. The Dean of the school of architecture is Elizabeth Plater-Zyberk, from the firm DPZ and best known for their unbelievable urbanism concepts.

I studied with The Luis and Jorge Trelles as well as Teofilo Victoria and Andres Duany and the concept of “New Urbanism” was drilled into us from day one at UM. I recently found an article by Time.com where Andres Duany was interviewed and explains a bit about New Urbanism.

Andrés Duany is writing the blueprint for a greener human habitat. The Miami-based architect is the co-founder, with his wife Elizabeth Plater-Zyberk, of the firm DPZ, and over the years he’s become a leader in what’s called New Urbanism. It’s a philosophy of design that tackles not so much buildings themselves as the entire built environment. Duany and his peers in New Urbanism want to stem suburban sprawl in favor of medium-density towns and neighborhoods where houses, offices, shopping and leisure activities would all be within a walkable space. The automobile – which is responsible for a significant portion of most Americans’ individual carbon footprint – would become an option, not a lifeline. “This goes beyond simply having cars that will pollute less, like hybrids,” says Duany, a voluble 58-year-old who grew up in Cuba before moving to the U.S. in 1960. “It means not having to drive.” (Hear Duany talk about New Urbanism on this week’s Greencast.)

How is this “New Urbanism” relevant to Miami Real Estate? SIMPLE. Miami is a HUGE city; the amount it takes you to travel from one end to the other could be in excess of 2 hours in rush hour traffic. That could mean INSANITY for anyone relocating to Miami-Dade County who doesn’t know any better. Within Miami, there are plenty of self-sustaining neighborhoods and people throughout the years have chosen to live, work and play in those areas to avoid the whole commute issue.
Of course Rick and I will ask our customers where they plan to work and what schools they are looking for their kids because this is crucial for the commute. In a perfect world of design, when we are talking about the typical American family, both parents would work near their place of residence and they would choose a school for their kids where they live. In Miami it has gotten out of hand. You see a parent working in Downtown Miami and the other in Fort Lauderdale – typically they choose to live in the middle of their commute but this is far from the “new urbanism concept”.

The romantic architect in me favors these mixed-use projects and self-sustaining “walkable” communities. But that romantic side is in constant disagreement with the practical side of me that says “that could only happen in a perfect, fictitious world”. From our friends in Miami Shores whose husband was just transferred from Fort Lauderdale to El Doral, or the Barry University professor who has to commute to Miami Shores from Miami Beach every day. Where we choose to live to lessen the impact of a commute is an extremely important decision and one that deserves delicate scrutiny.

As for New and Green Urbanism, I will keep encouraging and dreaming and will certainly support it, but know that reality will win in most cases.

This is a Miami Real Estate Market Report for January 2012.  If you are still looking for signs of recuperating real estate markets in these desirable areas of Miami, then it’s time for you to wake up.  The bottom is long gone and all these areas are already on an upward swing.  The increase in prices will be very slow, but evidence has been there for a year and the areas will continue to improve.  Please don’t go crazy overpricing your listings because your house is better than the rest….be objective! be realistic!  And yes foreign nationals are buying properties, but they do their homework and they don’t over pay.

Miami Shores Real Estate Market Report

There are currently 85 Miami Shores homes for sale:

• Highest priced listing is $2,990,000 (totally remodeled bay front home located at 1480 NE 103 St)
• Lowest priced listing is $95,000 (Short Sale at 9525 NW 2 Av) with 1 bad image and still no description by listing agent.
• Pending Sales (Properties under contract): 39
• Closed sales in January: 4

The 4 Miami Shores homes sold in January were the following:

• 9259 N Bayshore Dr – complete gutted house that had been listed since May of 2007 with a starting price of $2.795 Million – closing at $835,000 (here say is that property had over $500,000 in fines, penalties and violations from the city – and it had to be a cash purchase because of the condition of the home).
• 674 Grand Concourse – historic home that had been listed since September of 2009 at a starting price of $1.1 Million, finally selling for $685,000.
• 1453 NE 104 St – canal front mid-century modern listed for $739,000 and selling for $675,000.
• 9535 Biscayne Blvd – short sale on busy Biscayne originally listed for $438,900 in November of 2010, selling for $300,000.

We are seeing an increase of inventory in Miami Shores and also seeing unrealistic listing prices.  Never ceases to amaze us that when the market starts picking up strength, sellers seem to think that this calls for overpricing their properties.  If you are thinking of selling your Miami Shores home, please be realistic and look at comparable sales to come up with a logic listing price.  And be warned, everyone thinks their house is special and better than the comps, that’s the reason you hire a professional that can set you straight.

Bay Harbor Islands Real Estate Market Report

There are currently 12 Bay Harbor Island Homes for sale:

• Highest priced listings is for $3,290,000 (9520 W Broadview Dr)
• Lowest priced listing is $805,000 (1230 96 St)
• Pending Sales (properties under contract): 3
• Closed sales in January: 0

There were no Bay Harbor Island Homes sold in the month of January, but don’t let this be a negative sign.  Bay Harbor Island is in a category of its own and sets its own pace and rhythm.  Residents are loyal and love their community.

Surfside Real Estate Market Report

There are currently 50 Surfside homes for sale:

• Highest priced listing is $5,500,000 (1332 Biscaya Dr)
• Lowest priced listing is $250,000 (Foreclosure at 9273 Abbott Av)
• Pending Sales (properties under contract): 12
• Closed sales in January: 3

The Surfside homes sold in January were the following:

• 9133 Garland Av – listed for $548,000 and selling for $472,500
• 8942 Hawthorne Av – listed for $399,000 and selling for $375,000
• 9133 Froude Av – short sale listed for $290,000 (cash only deal) and selling for $290,000.

We have not seen many Surfside homes listed under $300,000 in the past year and when they do, they go quickly.  My guess is that the short sale at Abbott will close for a higher price than listed, but time will only tell.  The inventory of homes for sale in surfside is remaining steady, which is great for the neighborhood – hopefully we won’t start seeing overpriced homes like we do in Miami Shores.

There are currently 78 Surfside Condos for sale:

• Highest priced listing:  $2,400,000 for a 3/3/1 at Solimar, unit N5-B

• Lowest priced listing: $130,000 for a 1/1 short sale at Winter Gardens Condo

• Pending Sales (properties under contract): 20

• Closed sales in January: 5

The Surfside condos sold in January were the following:

• Azure Condo located at 9401 Collins Av # 707 – a 3/1/1 PH listed for $1,695,000 and selling for $1,475,000.
• Spiaggia Ocean Condo located at 9499 Collins Av #PH05 – a 4/3/1 foreclosure listed for $509,900 and selling for $525,100.
• Champlain Towers at 8855 Collins Ave #10G– a 3/2/1 short sale listed for $499,000 and selling for $529,000.
• Spiaggia Condo at 9499 Collins Av #806 – a 2/2 short sale listed for $280,000 and selling for $300,000.
• Manatee Condo located at 9273 Collins Av #803 – a 2/2 short sale listed for $208,000 and selling for $208,000.

If you are seeing short sales and foreclosure Surfside Condos being sold it’s because they have been under contract for a bit.  The distressed inventory is minimal, making up less than 10% of the active condos currently for sale.  Also notice that these are selling at or above asking price.  If you are looking for a distressed property in a desirable location like Surfside, you will have to move quickly and this doesn’t guarantee that you will buy a property that is priced better than regular sales.  The median listing price for Surfside condos right now is $415,000.

Fisher Island Real Estate Market Report

There are currently 103 Fisher Island Condos for sale:

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 (this home has been listed since April of 2008)
• Lowest priced listing: $180,000 for a 1 bedroom / 1 bathroom residence at Marina Village (short sale)
• Pending Sales: 3
• Closed sales in January: 2

The 2 Fisher Island Condos sold in January were:

• Bayview Fisher Island – 5223 Fisher Island Dr – listed for $2,900,000 and selling for $2,450,000.
• Marina Village Fisher Island – 42203 Fisher Island Dr – Foreclosure listed for $450,000 and selling for $405,000.

The median listing price in Fisher Island is $2.45 Million.  Distressed properties make up less than 8% of current for sale inventory.  Fisher Island sales may be slow, but the steady inventory and decrease in distressed inventory is a sure sign the bottom of the market is behind us.  Fisher Island is always a fun market to follow since it’s so different from the rest of Miami.

**all information obtained from the Southeast Florida Multiple Listing Service**