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Apr
07

Miami Shores Real Estate Market Report for March 2014

By: Ines Hegedus-Garcia on April 7, 2014

Miami Shores Homes – Real Estate Market Report

miami shores housing market
There are currently 86 Miami Shores homes for sale: (14 more than last month)

  • Lowest priced listing is $2169,900 (435 NW 111 St)
  • Pending Sales (Properties under contract): 37 (4 more than last month)
  • Closed sales in March:  12 (6 more than last month)

The 12 Miami Shores homes sold in March were the following:

  • 1081 NE 95 St – listed for $1,150,000 and selling for $1,000,000 ($327/sf)
  • 485 NE 94 St – listed for $1,148,000 and selling for $1,002,500 ($295/sf)
  • 1095 NE 95 St – listed for $843,000 and selling for $705,000 ($231/sf)
  • 1260 NE 94 St – listed for $799,000 and selling for $785,000 ($290/sf)
  • 87 NE 92 St – listed for $699,000 and selling for $665,000 ($317/sf)
  • 1298 NE 104 St – short sale listed for $629,000 and selling for $545,000 ($192/sf)
  • 1036 NE 95 St – listed for $600,000 and selling for $587,000 ($305/sf)
  • 30 NE 93 St – listed for $599,000 and selling for $580,000 ($242/sf)
  • 17 NE 109 St – listed for $439,000 and selling for $410,000 ($192/sf)
  • 92 NW 93 St – short sale listed for $379,500 and selling for $350,000 ($203/sf)
  • 78 NW 99 St – listed for $307,500 and selling for $397,500 ($247/sf)
  • 215 Grand Concourse – short sale needing a lot of renovation work, listed for $299,000 and selling for $323,925 ($135/sf)

The average sales price per square foot for Miami Shores homes in March was $248.  That’s considerably higher than the $215/sf from 2013 (2013 Miami Shores Real Estate Market Report), and higher than February’s $190/sf.

If you decide to list your home for sale, we recommend that you take a trip to Miami Shores City Hall to check if you have any open permits.  We do this for our clients as a courtesy, to avoid last-minute problems prior to closing.

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.  Feel free to email us at MiamiShores@miamism.com

Apr
03

Curb Appeal or Web Appeal

By: Ines Hegedus-Garcia on April 3, 2014

Dale Chumbley - The Road to SoldWhat is the secret for selling your Miami Beach Home? The COO of Zillow, Spencer Rascoff says, in an article on ABCNews that,

Sellers used to have to worry about curb appeal: How does the grass look, etc. Now a seller needs to worry about Web Appeal: When a buyer is browsing on the Web, what is their first impression.

I could not agree more and the article could not have come at a better time.  We say it over and over again to our clients, sound like a broken record and it’s nice to get get a reinforcement.  If 85% (some sources say almost 90%) of buyers start their search online, doesn’t it make sense for you, as a Miami Beach Real Estate seller, to take full advantage of online marketing?   And when I say take full advantage I don’t just mean pretty photos and a couple of search platforms.  You should be doing great photos, video, virtual shows, e-flyers, directories, blog posts and using as many available tools as possible to expose your property to potential buyers.

Rick laughs at me when I talk to him about online marketing because he says I speak a foreign language  between embedding, syncing, html, css, syndicating, plugins, widgets……you get the picture. It does feel like I have a some sort of degree in Social Media after being immersed in the medium for almost 3 8 years….and to think that he’s supposed to be the “techie” ;) .

Is there a magic formula for which search sites to use or what way to market on-line for your house to be noticed?  I wish I could say yes, but the way I look at it, the more you do and the better you expose, the better the chances that a buyer may find your property.  We go out of our way to learn about new platforms and new methods of marketing so our listings are found.  It takes a lot of work to stay on top of technology, but it’s one of the services we feel is crucial for successful marketing of any real estate property.

A good web listing can help you sell your house during a down market

**photo credit: Dale Chumbley at ClarkCountyRealEstateGuide**

**written June 18th, 2009**

Mar
31

The Terrifying Truth about Mold

By: Ines Hegedus-Garcia on March 31, 2014

So the Miami Beach home you just bought has mold – is it the end of the world?

mold and miami beach real estate

The mold issue here in South Florida has almost become a “trendy” topic – to such extremes that building inspectors have all kinds of special gadgets now to reinforce the fact that all homes have mold.  We always warn our clients that Miami’s climate is extremely humid and not unusual to hear the weather man on TV announce that we are at 100% humidity!

Always expect a house to have some mold. Did you read that correctly?  ALWAYS expect a house to have mold.  It’s good to know what the standards are and to keep in mind that empty homes without air conditioning will have a higher percentage of mold just because of common sense.   Getting rid of mold will include setting on the air conditioning to cold temperatures, sometimes even buying or renting dehumidifiers and if you are very concerned, hiring a mold remediation company.

I am concerned however when mold is identified as “toxic” – sometimes remediation companies cannot address tough toxic mold issues.

It’s always good to get an expert’s opinion, but make sure you check credentials, a lot of so called “mold experts” are just taking advantage of the trend and are not very proficient in the subject.  A lot of inspection companies will even charge you an extra fee to do a more extensive mold study, but that doesn’t necessarily identify the problem, just gives you a lot of data to interpret – if you are really concerned, go on-line and do some research – that way you won’t have to take anyone’s word for it.

An educated consumer is our best client :)

originally published 8/26/2009

Mar
26

Bringing Light to The Bimini Bay Resort

By: Ines Hegedus-Garcia on March 26, 2014

I decided to bring this post back to life before the new year, especially after all the Genting Group stuff going on in Miami - The Miami Herald building allowed to be demolished and seing the uncertainties of what’s to become of that land and the “gargantuan” nature of the project at hand. As reported by The Miami Herald,

Genting architect Bernardo Fort-Brescia, co-principal of Arquitectonica, said after the hearing he will go back to finalizing a plan for a scaled-down version of a gargantuan project the casino giant originally presented last year.

I don’t bring this up to be a trouble maker, but because I am concerned about the sequence of events.  It’s up to you to analyze and come up with your own interpretations.


If you have seen our boating photos, you know we are big fans of The Bimini Islands in The Bahamas.  We have been crossing the gulf-stream via boat for years and enjoying the small island feel, the gorgeous beaches and the spectacular diving and snorkeling.

A few years ago we heard a few locals complaining about a new resort that was going to be built and would destroy the island.  Some said it would help the economy and bring jobs, others were scared that the resort’s scale would be too big for the infrastructure of the island and would hurt the existing eco-system.

The Horrible Reality behind The Bimini Bay Resort

The truth is that with large resorts, come huge egos, greed and problems.  I personally have not gone in-depth into the conflict that the construction of The Bimini Bay Resort has caused, but have seen first hand, the negative impact of the Bimini Bay on the island and its surroundings.

Seeing hundreds of mega-yachts parked in the Bimini Bay Marinas and how they misuse the “iddle speed” necessary to reach their destination through the grasses of the harbor cannot be a good thing.  The clearing of trees and mangroves is also evident throughout. Now we are seeing more dredging and land movements.

I’m a true believer that big things should stay in big places and the plans for the Bimini Bay and its expansion, will kill the beauty of the island and will continue to negatively affect the ecosystem and the environment of Bimini.

But please don’t take my word for it.  Fabien Cousteau (the grandson of famous Jacques Cousteau), has written and researched The Bimini Bay Resort’s impact on the environment.

Fabien Cousteau’s bio reads:

Growing up on decks of his famous Grandfather’s ships, Calypso and Alcyone, Fabien Cousteau was destined to work to protect our planet’s immense and endangered marine habitats.

In his Bimini Under Siege article he writes:

The beautiful island of Bimini is facing a potential environmental crisis it has never faced before. Blatantly unsustainable building practices are resulting in the perfect model for ecological disaster that would rob its inhabitants of economic and environmental well-being in the near future. If left unchecked, the development threatens to increase the island’s seasonal population by over 700%. Already facing water, energy and waste problems currently the island is far too small to accommodate such an overwhelming onslaught. Furthermore there are no signs of “green” material, technological, energy, consumption or waste solutions. In this day and age it is simply unacceptable for us to pilfer what is left of our potential future.

A small paradise island is under assault from short-sighted unsustainable overdevelopment. This case is far from unique around the world but with our planet’s health collapsing under our very eyes from a combination of our ignorance, inaction and, in some cases, the blatant disregard of certain entities for our future it is simply not an option to stay by the sidelines when we can still change the tide of our fate. There is still hope for this island but time is short and action must come soon or we stand to lose yet another battle in the struggle that will reflect in our very own survival into the future.

To make things even worse, The Malaysia-base Genting Group has partnered with Alejandro Capo, the CEO of RAV Bahamas, to add a world-class casino.  Yes, the Genting Group is the same one that had to scrap their casino plans for Miami when their plans were not approved by the city because of its massive scale.

Please understand that I am not anti-development – I am an architect and Realtor after all and make a living from selling real estate.  The question is, why so big?  Why couldn’t the resort stay in a small manageable scale that would complement the island, the inhabitants and the ecosystem?

I will leave you with a short video from this weekend.  A lovely local by the name of Gwendolyn prepares the best conch salad for us with freshly caught conch when we visit.  I happened to ask her how she felt about The Bimini Bay, and I think this will give you the perfect perspective from a local – born and raised in Bimini.

And for the record, I will continue staying in the smaller hotels like The Bimini Sands and The Big Game Club, which are obviously more in tune with tradition, and sensitive to Bimini’s environment. I wonder how Hemingway would feel about all this.

Other relevant articles:

*originally published on 8/16/2012*

Mar
21

Paramount Bay Condos – Market Report for February 2014

By: Ines Hegedus-Garcia on March 21, 2014

Paramount Bay Condos Real Estate Market Report

There are currently 31 Paramount Bay Condos for sale: (same as last month)

  • Highest priced listing is unit PH4602 for $4,899,000 (4 bedrooms / 4.5 bathrooms)
  • Lowest priced listing is loft unit 705 for $699,000 (1 bedrooms / 2 bathrooms)
  • Pending Sales (properties under contract): 6 (4 less than last month)
  • Closed sales in February: 3 (compared to 2 in January)

The 3 Paramount Bay Condos sold in February 2014 were the following:

  • unit 2108 – listed for $690,000 and selling for $677,000 ($612/sq.ft.)
  • unit 2404 – listed for $739,000 and selling for $705,000 ($568/sq.ft.)
  • unit 2709 – listed for $749,500 and selling for $749,500 ($617/sq.ft.)

The average sold price per square foot in February of 2014 for $599, compared to January’s average of $602, and 2013′s average of $596. The demand continues to increase in the Edgewater area of Miami and Paramount happens to be the number one choice for design, luxury and amenities if pre-construction is not your thing.

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.

Featured Paramount Bay Condo for Sale

Paramount Bay 4005 - For SaleParamount Bay Penthouse 4005 – There are not many condos with magnificent terraces, so this penthouse will leave you in awe.  It has it’s own private elevator that takes you to a 5,800 square foot residence with 4 bedrooms and 4 and a half bathrooms.  It’s a flow-through unit running east-west and has an open 2,900 square foot terrace where you will be able to enjoy sunrises and sunsets without obstructions.  It sits  on Biscayne Bay with direct water views, views of Miami Beach as well as downtown Miami skyline.  It is decorator ready waiting for your finishes of choice.

Priced at $3,950,000

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