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May
11

Surfside Real Estate Market Report for April 2015

By: Ines Hegedus-Garcia on May 11, 2015

Surfside Real Estate Market Report

Surfside real estate market 2012

There are currently  23  Surfside homes for sale (1 more than last month):

  • Highest priced listing: $5,000,000 (waterfront fixer upper at 1332 Biscaya Dr)
  • Lowest priced listing: $575,900 (700 Surfside Bl)
  • Pending Sales: 7 (same as last month)
  • Closed sales in April: 8 (compared to 2 in the previous month)

The 8 Surfside homes sold in April were the following:

  • 8745 Abbott Av – 3 bedrooms / 2 bathrooms with 1,522 sq.ft. of living space – listed for $507,000 in December of 1204, then priced was raised to $550,000 in March and selling for $540,000 ($355/sq.ft.)
  • 1221 Biscaya Dr – bay front 4 bedrooms / 4 bathrooms / 1 half-bath residence with 3,612 sq.ft. of living space – originally listed for $2.95 million in January of 2014, reduced to $2.49 million in April of 2014, then again to $2.199 million in June of 2014 and finally selling for $1.8 million ($498/sq.ft.)
  • 1249 Biscayne Dr – waterfront short sale with 5 bedrooms / 4 bathrooms / 1 half-bath with 4,916 sq.ft. of living space – originally listed for $5.2 million in August of 2013, with several price reductions and finally selling for $2,030,000 ($413/sq.ft) << talk about a deal!!
  • 9033 Carlyle Av – 3 bedrooms / 3 bathrooms, 1,750 sq.ft. of living space – originally listed for $625,000 in February of 2015 and selling for $591,500 ($338/sq.ft.)
  • 9224 Dickens Av – 3 bedrooms / 2 bathrooms with 1,745 sq.ft. of living space – listed for $575,000 in January of 2015 and selling for $500,000 ($287/sq.ft.)
  • 9065 Emerson Av – 3 bedrooms / 2 bathrooms with 1,881 sq.ft. of living space – listed for $609,900 and selling for $580,000 ($308/sq.ft.)
  • 9032 Emerson Av – 3 bedrooms / 2 bathrooms / 1 half-bath with 1,907 sq.ft. of living space – listed for $699,900 in February 2015 and selling for $675,000 ($354/sq.ft.)
  • 8851 Dickens Av – 4 bedrooms / 3 bathrooms with 1,928 sq.ft. of living space – listed for $849,000 and selling for $850,000 ($441/sq.ft.)

The average selling price per square foot for Surfside homes (not on the water) in April was$347 compared to averages in other months:

  • March $363
  • February $316
  • January $321
  • 2014 – $324

The law of supply and demand really applies in when it comes to Surfside homes.  Inventory is at an all-time low and demand is very high.  Demand is especially high for 4 bedroom homes and those that are in move-in condition.  Keep this in mind when you are remodeling, adding a 4th bedroom will help your home not only sell quickly, but appreciate at a faster rate.


Go to MiamismTRENDS.com to sign up for a monthly trends report.  This is an automated system, different to this market report we prepare on a monthly basis but can send both of you without obligation and always keeping your information confidential.

Call us Today for a listing appointment!

If you are interested in getting a list of all properties currently for sale in Surfside, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at Surfside@miamism.com

 

May
08

Gran Paraiso First Dibs!

By: Ines Hegedus-Garcia on May 8, 2015

One of the advantages of working at RelatedISG is having early access to RELATED projects that we can pass on to our clients.  Grand Paraiso Reservations should open to the regular public at the end of the month but we will have access prior to Launch!

grand paraiso pre-launch reservations

Gran Paraiso Reservations

Gran Paraiso is the South Tower of Paraiso Bay.  Tower I is 99% sold with only 2 units remaining.  Gran Paraiso will begin accepting reservations at the end of the month, but we will have inventory to offer our clients before then.  This is an amazing opportunity to get into a complex that has had so much success, but you need to move quickly.

Contact us at GranParaiso@miamism.com if you are interested and we will send you the information privately as soon as it is made available to us.

Gran Paraiso Information

Interior Designer:  Piero Lissoni

Architecture:  Arquitectonica

Landscape Architect:  Enzo Enea

  • 53 stories
  • 300+ units
  • 7 units per floor
  • Spacious layouts featuring 10′ ceilings
  • One, Two, Three and Four Bedroom residences available
  • Private elevator access with private foyers
  • Service elevators
  • Amenities on the 5th floor include:  luxurious pool deck, 100′ diameter lagoon style pool and beach entry, Tennis Court, Fitness Center, Residents Lounge Rooms, Screening Room, Spa, Yoga Room, and more.
  • Lush gardens
  • ALL units with direct bay views

To learn more about the Paraiso Complex, please visit: Paraiso Condo Complex Miami

To learn more about Paraiso Bay (the first tower), please visit: Paraiso Bay Miami

**there is still 20% inventory available at Paraiso Bay Views and 1 PH at One Paraiso.

Contact us for estimated pricing and payment schedule – you will have first Dibs at one of the most exiting condo projects in Miami!

May
06

What do I look for when buying a Mediterranean Revival Home in Miami?

By: Ines Hegedus-Garcia on May 6, 2015

I get asked what to look for when buying a Mediterranean Revival Home, all the time!  And it doesn’t matter if you are a historic preservation buff or if you simply like the Mediterranean Revival style, working with the right professional that has a passion for these homes is key.  (<not so shameless plug.  I am your Miami Historic Homes Realtor afterall)

Miami Shores Historic Home by miamism.com

What to look for when buying a Mediterranean Revival Home in Miami

  • How original is the house – what transformations has the home gone through in the past years and what additions and renovations have been completed that may not only not be original, but may have changed the original character.
  • Which features are original and still intact from when the home was built?
  • roof (Historic Cuban Tile, parapets, etc)
  • flooring – hardwood floors, Cuban tile, quarry
  • bathrooms – original fixtures and tile
  • mill-work – baseboards, crown molding, cabinetry, door casings, wood beams
  • metal work – balcony and stairway railings, decorative grills
  • stucco – plaster on interior and exterior walls as well as ceilings
  • windows – wood casement windows or wood single/double hung windows
  • fixtures – lamps, sconces, etc
  • hardware – door hardware, knobs and pulls
  • What is the condition of those original features (will you be able to match them or repair them)
  • How easy is it to modernize the home without affecting its historical integrity?  Or how can you supplement that integrity.
  • Mediterranean Revival homes did not have central air conditioning or heat.  It’s important to study how to effectively install an a/c system with as little interference to original structure.
  • 2-story homes usually have 2-zone a/c systems to avoid soffits for a/c ducts.
  • You can expect galvanized plumbing and cast iron pipes.  Most home owners replace pipes as they remodel and many times it can be done without tearing out existing finishes.
  • May owners also remodel bathrooms and although they completely modernize them, they pay special attention to original details to be able to mimic those with new construction.
  • Electrical systems were fuses and cloth wiring in the 20’s and need to be upgraded to breakers.  This is key for fire safety.
  • Modernizing a 1920’s house can be a challenge, windows are my pet peeve.  When replacing windows, the original proportion needs to be respected so that the final look and feel of the house is not changed.  See also: What is the right type of window for a Mediterranean house?
  • Bathrooms can be tricky, visit historic homes to get a feel for the finishes, colors and materials used in the 20’s.  Pay attention to rectangular wall tiles placed horizontally and wainscoting as well as beaded boards.  Honeycomb floors tiles, black and white as well as neutral schemes were common.
  • I think you would agree that kitchens have changed quite a bit and have become the center of our homes.  It is not unusual to walk into a grandiose Mediterranean Revival home with a very small kitchen.  It IS possible to increase the size to modern standards while respecting the scale of the original home.  Think of timeless, natural materials.
  • Pay attention to the front door of the home.  It is the most ignored feature of a historic home and one of the most important.  The front door will set the stage for the rest of the home, make sure that it matches the period together with its hardware.  See also: First Impressions in Real Estate
  • Quarry tile floors came in all kinds of shapes and colors.  Even when they are dirty and look bad, they can be restored to perfection.  The same applies to hardwood floors.
  • Pay attention to original hand-painted features throughout the home.  Hand-painted wood beams, chair rails and stair railings are very common.  I have seem complete restorations where hand-painted features are preserved and matched – these can be breath-taking.
  • Keep an eye out for structural flaws.  It is typical to see settling of floors as well as hairline cracks.  Many 20’s homes have needed structural reinforcements throughout the years.  When it doubt, it’s not a bad idea to hire a structural engineer to assess issues.
  • Water intrusion repairs are also common but are not difficult to repair.  Bubbling plaster is not necessarily an indication of water intrusion.  Since organic plaster was used, plaster may continue to bubble even after the leak was repaired.

Now that I’ve scared you, please know that historic homes do take a lot of work and restoration can be difficult.  But what’s more important is that historic homes hold their value and have a specific market audience that is willing to pay more.  Historic homes “historically sell for more” (<like how I did that?).   I’ve owned and have personally worked on historic homes throughout the years as well as served on historic preservation boards and continue to be a voice for the National Trust for Historic Preservation.

I am your Miami Historic Homes Realtor and will share all my knowledge and passion with you, my real estate clients.

(pen and ink rendering above by yours truly: Ines Hegedus-Garcia)

May
02

Miami Shores Real Estate Market Report for April 2015

By: Ines Hegedus-Garcia on May 2, 2015

Miami Shores Homes – Real Estate Market Report

Miami Shores Real Estate Market Reports by Miamism.com

There are currently 68 Miami Shores homes for sale (6 more than last month):

  • Highest priced listing is $5,995,000 $5,495,000 $5,100,000 (1600 NE 103 St:  6 bedrooms / 5 bathrooms / 2 half baths, 6,733 sq.ft. of living space on 20,534 sq.ft. lot – directly on Biscayne Bay)
  • Lowest priced listing is $275,000 – 190 NW 103 St
  • Pending Sales (Properties under contract): 38 (3 less than last month)
  • Closed sales in April: 20 (compared to 18 in March)

The 20 Miami Shores homes sold in April ranged from $319,000 for a 3 bedroom / 1 bath home at 190 NW 111 St – to $1,175,000 for an impeccable mid-century modern at 1249 NE 97th Street with 3 bedrooms, 2 bathrooms and 3,368 sq.ft. of living space.

There was only 1 water front home sold in April, located at the end of the 102 street canal at 1391 NE 102 Street – a fixer upper, selling for $870,000. (an unusually low $370/sq.ft.)

The average price per square foot in Miami Shores in the month of April increased to $256 compared to the previous months’ averages:

  • March was $247
  • February was $227
  • January was  $225
  • The average in 2014 was $236, if you want to see 2014′s stats, please click HERE.

It is evident that homes in great condition, staged and uncluttered are selling for top dollar.  Remember that a little work can come a long way!  You have the choice, as a seller, to market an average house or a great house and the difference can be close to $100/sq.ft., do the math.  Or better yet, call us and we’ll do the math for you.


To sign up to our Home Trend Reports, go to MiamismTRENDS.com and fill in your information.

If you have any doubts on the automated value, please contact us and we will make adjustments and corrections according to upgrades and location of your particular home.

Call us Today for a listing appointment!

If you are interested in getting a list of all properties currently for sale in Miami Shores, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at MiamiShores@miamism.com

 

May
01

Why you need to invest in Miami real estate right now

By: Ines Hegedus-Garcia on May 1, 2015

Buy Miami Now - Miamism.com

Miami real estate is here to stay.  It’s not a passing movement, it’s not a bubble, it’s not a fad.  Of course it will have its ups and downs like any real estate market in the history of the industry, but there are exciting changes that make our city, Miami, the place to invest in NOW.  We, as Miami REALTORS, embrace those changes, feel privileged to be witness to this amazing growth, and are here to help you, our clients, understand the reasons to buy and invest in Miami now.

Miami is being called “The New Manhattan”, the “next big tech hub”, the “yachting capital of the world”, just to name a few.  Here are crucial points why Miami is growing in popularity, and why it’s more than just a winter escape, but be warned, there will be a lot of links to support what we’re saying.  Be ready to click away, read and then come back to us ready to buy.  We will help you determine where to buy according to your needs.

Miami as a Financial Hub

According to The Business Insider, Miami is already the 2nd most popular financial hub in the country after NYC  and refers to Miami as a financial gateway to the Americas.

Jennifer Odence from The Hedge IT Blog says that Miami is,

Currently home to over 60 international banks and 100 alternative investment companies, Miami and its busy Brickell Avenue has emerged as “Wall Street South,” and according to Forbes is luring many financial firms away from more traditional hubs such as New York and Greenwich, CT.

Miami as a Tech Hub

According to Fortune, Miami is making a different name for itself as a booming hub for technological innovation.  From large-scale technology conferences, Microsoft’s first U.S.-based “Innovation Center” in Miami, to start-up incubators opening up shop in Miami and organizations like the Knight Foundation who are investing in the build-out of the city’s entrepreneurial community.

And what about the idea of Miami being a tech hub of the Americas?  The Huffington Post tells us that,

The region in and around Miami has long pinned its financial fortunes on real estate and banking, but a combination of factors — the recent recession that shook those economic drivers coupled with an increase in cloud computing, the rapid growth of mobile devices in Latin America, and the area’s vast health care industry — now have civic leaders and local entrepreneurs making a push to diversify into the tech industry.

And lastly, we’ve told you about Richard Florida, founder of the Creative Class Group and his views of why Miami is more than just a vacation destination.  But Florida also tells us how start-ups are surging back in the urban cores of big cities including urban Miami.  Richard Florida states,

Read more here: http://miamiherald.typepad.com/the-starting-gate/2014/03/qa-with-richard-florida-on-tech-hub-movement-upcoming-start-up-city-miami.html#storylink=cpy

The past decade or so has seen the region become a fantastic destination for arts and culture. The whole area is beginning to attract a new generation of talented people in their 30s and 40s, who are far less tethered to their jobs. Digital technology enables them to work from anywhere and they are choosing Miami.  These people don’t just work in tech per se, they work in and are creating a wide range of businesses, many in the health and lifestyle sectors. Miami is really beginning to achieve in the lifestyle space.

Miami has lower taxes

Enough said, California and New York drive traffic and big businesses to Miami because of lower taxes, and Miami Today gives us examples.

Miami Shopping, Gastronomy and Culture

Art Basel embraces the artworld with the biggest international art event and has helped Miami’s transformation into a cultural hub .

And what about Miami as the Yachting Capital of the world?  In addition to The Miami International Boat Show, The Huffington Post reasons,

Factor in 3,000 hours of sun annually, and it’s obvious why this South Florida town would be the ultimate Stateside haven for a boat-up luxury lifestyle

And shopping is not just your regular shopping.  In addition to Bal Harbour Shops (the most lucrative shopping mall in the world), we have Miami’s Design District – a destination for luxury shopping and dining, headed by Craig Robbins, as well as Swire’s Brickell City Centre.

And talking about dining, we can’t forget the celebrity chef scene in Miami – from Michael Schwartz to Top Chef’s Jeff McInnis.

And when it comes to museums, we don’t just have the new PAMM, the list will impress you.

Miami as Top City in Wealth

Ocean Drive Magazine tells us why the world’s billionaires re staying put, but most importantly, Miami makes it into Knight Frank’s TOP CITY IN WEALTH report, and staying up there in their prognosticated next ten years.

Miami was also identified by Forbes as best places for business and careers.

Miami’s Infrastructure

A lot of money is being dumped into Miami’s infrastructure, from The Port of Miami in order to accommodate megaships from The Panama Canal, to The Port of Miami Tunnel just finished under Biscayne Bay.  We’re also seeing major work in Miami’s expressways by The Department of Transportation.

We can’t forget All Aboard Florida, the high-speed train that will connect Miami to Orlando; Or Miami Central Station which will serve as Miami-Dade County’s first all-inclusive ground transportation hub.

An important city is nothing without a great airport and Miami International Airport is undergoing a $6.4 Billion improvement project.

The City of Miami has also adopted a new zoning code guided by New Urbanism and Smart Growth known as Miami 21.  Miami 21 is a form-based code whose goals are to create neighborhoods by the interaction of buildings and streets, it promotes a sense of place and encourages walkability and has high emphasis on making everything compatible through orientation and design.

Starchitects in Miami

This is one of the most exciting for me because in addition to seeing Arquitectonica all over the place, we started seeing well-known architects like Herzog & De Meuron in the 1111 Lincoln Road parking garage, then Frank Gehry in The New World Symphony, and the much-anticipated 1000 Museum by Zaha Hadid.

But star power doesn’t stop there, huge architecture names like Carlos Ott, Enrique Norten, Norman Foster, Rem Koolhas, Richard Meier….the list goes on and on and the projects are magnificent! All making our Miami even better than it is today.

Miami as Top Beach City

And I left this one to the end because it’s sort of a “DUH” statement and it’s the main reason Miami has the popularity it has – perfect weather all year round and makes National Geographic’s Top Beach Cities List.


The Miamism Sales Team is ready to help you analyze your options in The Miami Real Estate Market and become your go-to REALTORS for everything Miami.  Nothing more exciting than being involved in the beginning growth stages of a great Global City.

Request a FREE market report or custom property analysis by contacting info@miamism.com or calling Ines directly at 305.206.9366

*originally published 9/24/2014*