Nothing like a client selling our services for us!  We just love loyal customers that keep spreading the good word about the way we handle Miami Beach Real Estate.  Looking back at difficult transactions and the obstacles we have to go through to get things accomplished is all worth while when you get an email like this:

I’ve copied real estate agent Rick Garcia who was a tremendous help with my condo. He’s effective and unlike most Realtors who will tell you anything just to get the listing, he is realistic and straightforward. I know the Miami market is still depressed, but if you are open to his ideas and pricing, then he will make every effort to get it sold or leased.

THAT’s what I’m talking about!!  We tell you time and time again that we don’t sugar-coat information, we don’t paint pretty pictures of current real estate conditions and we tell it like it is.  It’s the number one reason our clients recommend us and come back again and again.

We are dedicated to your success, whether buying or selling Miami Beach homes or condos and will go above and beyond so you keep coming back for more.

Thanks Chris for the awesome referral, totally made our day!

*originally posted on January 31, 2010*

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If you are thinking of selling your house, what’s the ideal Realtor for you?

• Is it the one that will tell you what you want to hear?
• Is it the one that will list your house at the highest price?
• Is it the one that works for the biggest brokerage?

If you are like most people, you will talk to a couple of Realtors to get an idea of pricing and see how the market is doing.  You may have an idea of what your house is worth and hope your number is close to reality.  You may even have a grasp of reality but know your house is superior and NEED to sell for more than the market dictates.  Even if you don’t know it, you establish a selling strategy before you even interview a Realtor – you set goals in your head of what you want to happen and have pre-conceived ideas on how to achieve those goals.

When the time comes to interview different Realtors, you will end up hiring the one that comes closer to your predetermined plan.  This may be a good thing if your plan comes close to reality and what’s happening in your local real estate market – but what if you are really off?

So let me ask you a question from a Realtor’s perspective.  Wouldn’t it be easy for me, as a Miami and Miami Beach Realtor, to tell you what you want to hear in order to get the listing?  It would look great in my long register of listings, even if the house doesn’t sell – it’s a numbers game, so the more listings I have, the better the chance I have of selling and making money.

Why can’t you realize that overpricing your house will not benefit you!!

Many agents out there will list it at whatever price you want – it’s simple (and one of the reasons the Real Estate Industry has such a bad reputation).  Here’s another scenario: you may think, let’s list high now and we’ll see if the market responds and then we will lower the price. …but you wait, and wait and wait.  You don’t lower the price and then blame the agent for not doing their job.

I just want you to be realistic here.  Please think strategy before you even list your home.  Please take a deep look into your pre-conceived ideas of what is to happen, and hire a Realtor because they will get the job done right.  Take a look at their reputation, at their ability to market the property not only locally but nationally and abroad.  Take a look at how they will make your property stand out from other listings,  how they will communicate and how available they are.

Then make an educated and rational decision of who’s the best man for the job.  And if you decide not to hire the best one for the job, at least know why you did it.

I’ll leave you with a great article written by a colleague in Tucson:  The Effect of Great Marketing – And Good Pricing

The intent here was to make you think – Please know that our team will always tell it like it is – no fluff, just plain truth.  Keep in mind that if you are looking for fluff, we may not be the perfect Miami Beach Realtor for you.

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Here’s the scenario, you are buying a Miami Beach home with a septic system and logic tells you to have it inspected – pretty straight forward up to now.  So you ask your Realtor to recommend home inspectors and you do a bit of research on your own.  You finally hire a home inspector and find out that they have to subcontract the septic inspection and you figure everything is fine….this is when it starts getting hairy.

How do you know that the subcontracted company is legit?  Better yet, how can you guarantee that they will perform an objective inspection and will not damage anything in the process?  How do you make sure that the septic company you hire will do the necessary research to locate the system and will not break a lid or destroy landscaping or God forbid be respectful of someone else’s property?

It happens to us too often and no matter how we try to foresee problems, something really wrong always happens.

• From the company telling you that the system is damaged just so that they can get the gig <<<conflict of interest!
• To inspector showing up unannounced, digging up half the yard, damaging lids and then claiming system is not working properly
• To them knowing ahead of time system is older than “customary-life of septic systems” and making you pay for an unnecessary inspection that they know they will fail regardless of condition.

The list goes on an on, sadly, everyone looses, whether you are the buyer or seller of the property.  I still have not come up with a solution to this problem, and I’m sure there are reputable septic inspectors out there (just have not met them yet).  The closest suggestion I have is to first make sure that you sign an agreement with the inspector assuring them that no matter the findings, they will not be performing the job (that should cut out the conflict of interest).  Second, make them sign a release in case they damage the tank in the process (this may not be an easy task).

The easiest solution is to educate yourself about septics.  How much will it cost to replace tank and drain field?  What are the signs of a non-functioning or failing septic without even having to open lids to visually inspect?  When do you have to become concerned about a septic system?  If a septic system has a “said” life expectancy of 15 years, how come we see 50 year old septics in perfect condition?  If a septic system is supposed to be pumped out every few years, how come we see septics in perfect working condition that have NEVER been pumped out?

In my opinion, the whole septic industry is very wishy washy, and there are no objective and/or proven expert opinions out there.  The basic truth is that septics are fairly inexpensive, are low maintenance, and usually easy to fix.  There are tale tale signs that a septic is failing when a home is occupied:  sewer smell, constant backed up toilets, collapsed lids or holes in yard.  An empty house is reason for concern, but not the end of the world either.  So think about who you hire to inspect and think twice about inspecting – you may be doing more damage than good in the end.

related reading:

Aroma: Miami Real Estate’s 5th sense

Miami Beach Home Inspections Continued

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One of the best feelings in the world is clicking with our readers and establishing long lasting relationships that you can’t put a price on.  Selling Miami Beach real estate may sound like a glamorous job, but a lot of the time is filled with frustration and thankless tasks unless, of course, you are like Ken and Ritch.

Would you entrust the job of finding a home to someone you don’t get along with or worse yet, someone you feel skeptical about? Finding the right Realtor is no easy task, and it is, after all , a relationship business.  It takes research and asking the right questions to make sure you will find a professional that listens, puts your best interest before theirs, and never forgets your goals.

I should make Ken De Loreto and Ritch Holben permanent fixtures here at Miamism.com, you may have seen them in a couple of our Mojito Reviews and even confess that a lot of my articles have been inspired by them.

To add to their awesomeness, Home Miami Magazine featured Ken and Ritch in this month’s issue, in an article by Dawn Spinner Davis entitled “Living Light:  An Architectural Designer and his Partner Find Mid-Winter Solace in a Modern Midtown Condo”. (Too bad it’s the last issue of Home Miami, I always thought it was one of the best local publications out there with none other than Beth Dunlop as the magazine’s Editor in Chief….even if they cut me out of a couple of their articles … it’s all good).

Dawn starts by saying,

Ritch Holben and his partner Ken De Loreto have a fairy tale life:  successful careers, a lasting relationship and a 200-year-old farmhouse, lovingly restored, in the heart of the Massachusetts Berkshires.  With a penchant for horticulture and five exquisite gardens to prove it, the couple relish in their quaint country lifestyle.  Of course, the only downside to a quintessential New England existence is, as Robert Frost wrote, “the woods fill up with snow.”  And after a particularly difficult winter in 2009, Holben and De Loreto were seduced by the siren song of a warmer climate and found themselves in Miami.

So I decided to dig through my email archives to find the first communication I had with the dynamic duo, just to see if they had stuck to their original concept; to see if that sparkle of light they had before even setting foot in Miami, had come true.  I had such a huge smile on my face reading through the emails back and forth.  They both knew exactly what they wanted and were great at expressing their needs.  We clicked from the first communications and the rest is a very happy ending, but you be the judge.

If you’re to learn anything about this article – know that communicating your likes and dislikes makes to a very happy Realtor/Client relationship, but most importantly, leads to achieving your real estate goals in a more efficient and enjoyable way for everyone.

Things we like…

Loft, one or 2 bedroom  (flexible) , the more open and the more space, the better.   we are both well over 6′ tall, so height is great.

Something that is clean and modern, high rise may be ok, if its not cookie cutter…
Love the newer stuff in appearance, very clean, floor to ceiling glass, and all, but also have a soft spot for the classic 60′s-70′s stuff.

Terrace or outdoor space is imperative.
We do both cook.

A space for a home office would be good.  Ken travels for work, so something that isnt hell to get to the airport would be good.
Parking for at least one car.  Pool and workout room seem cool.

we have 2 dogs.  They are getting older, so may not be a real limitation, but we tend to like places that are at least dog-friendly…more european that way.

water is important…beach or bay, as we live in the beautiful wooded mountains here.
Design district, Blue, Neo…..Collins……dont really know Miami well at all  (only been to SoBe for new years….) so are open to advice….a neighborhood feel is important – walk for a coffee in the morning, not car-centric….

Things we dont like…

diagonal tile.
cookie cutter floor plans and lifestyle
dark and musty
bright, garish colors and ostentatious..

That first quote still resonates in my head “looking for a cool, interesting winter place – opposite of our countrified western Massachusetts main home…urban, modern, unique….”

TALK ABOUT A REALTOR’S DREAM COME TRUE!!

We went back and forth with listings, descriptions, information and then we had a blast looking at different areas of Miami and tearing different building projects apart.  They were sold on a Midtown one-bedroom unit with a wrap around balcony and just had to be patient with a very long and tedious short sale.  It was a designer ready unit, so they picked finishes, did tons of research to pick the perfect contractor and today the place is magical!

Dawn Spinner Davis again (I’m doing a huge injustice to the article by giving you only bits and pieces … maybe they will include it in their website).

Holben, an architectural designer, and De Loreto, a corporate sales and training consultant, were longing for something very much the opposite of what they already had…

Keeping the scale of the apartment in mind, the couple set out to find unique yet functional pieces.  “You have to make grand gestures to maximize a small space,” says Holben.  These gestures are everywhere.  The closet doors in the entry hallway have been replaced with panels of fabric printed to look like a birch forest.  When guests enter, they are greeted by a row of X-ray light boxes salvaged from St. Cabrini Hospital in Chicago, and they are encouraged to “sign in” on the film.  “It’s a form of functional, social art,” Holben says.

…

The couple now spend five months of the year here, flying south after idyllic white Christmases in the Berkshires.  They’re still in the honeymoon period – growing tomatoes on Lucite trellises on their wrap-around balcony – but their enchantment is showing no signs of waning.”

The best part of it all it not just the amazing place, life and home Ken and Ritch have created, but the gift of friendship they have so gracefully presented us with.  And their testimonial which I can’t read enough:

It is truly difficult to write a glowing testimonial for Ines and Rick. Why? Well, finding words that are strong enough without sounding clichéd, overused, or trite necessitates an unabridged dictionary. So, we’ll err on the side of simplicity. They rock!

From the first contact with Ines we were guided with care and compassion. The full story of our recent, successful purchase of a short sale condo in midtown Miami, while appropriate for the Halloween season upon us, is too long and harrowing to recount. However, throughout it all, Ines and Rick were there to keep us calm, encourage our patience, and close the gaps in our knowledge. For example, Ines’s clearly stating right up front that ’short sales are long and tough, but if you’re patient…’ kept us focused and realistic. She never ’sold’ anything to us, but rather let us buy. She never forced her perspective on us, but rather shared honest assessment and data for our consideration. She was professional, tireless, and real with us both face-to-face and long-distance. When tough economic reports in the news made us anxious, her insight and intelligence kept us balanced. The process took over five months…five months of little to no movement on the part of the seller’s bank, but not Ines. She moved! She was our advocate and communication link while the bank thought about the short sale, misplaced paperwork, thought some more, and passed our offer from level to level, operating as if heavily sedated. The only thing that made us stay with the short sale process, other than perhaps naivete, was the realistic hope that she continued to instill in us (and the desire for warm weather in the Winter, of course.) Completing the picture, Rick offered the detail, humor, and smarts that were needed to help us get the right mechanics moving. If the bank was going to slow this down, Rick and Ines ensured that we wouldn’t.

So, while we’re not ones to gush, in rereading what we’ve written above about Ines and Rick, we realize it’s nearly a love letter. So be it. It’s deserved. If you have any choice in the team with whom you work on your real estate search or transaction, the choice is clear and absolute: Rick and Ines. Period.

**all photos copyright© Ritch Holben **

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**This post was originally published on November 4th, 2007 and works just as well today**

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It’s amazing to me that we still get calls from people that bought Miami Beach condos in pre-construction, possibly in 2004 or 2005, and are still trying to work out deals with developers and encountering little to no cooperation. Our first recommendation is to hire an attorney, there are many that have been successful helping buyers get deposits back, or at least applying those deposits to purchase different condo units.

We are not attorneys and we are not accountants, but consulting with professionals will educate you regarding real estate contract rescissions and deposit recovery statutes. You may have the opportunity to rescind your contract prior to closing and in many cases recover all or most of your deposit. When you do communicate with the developer, make sure you get everything in writing! Also know that if you have lost a deposit, it may be tax deductible – hence the reason consulting with an accountant is a smart move.

Furthermore, you may be entitled to a part of that deposit according to Florida Law even if you defaulted on the closing!

Why am I writing about this now? We recently wrote about a Miami Beach condo called Mei – it’s funny how we can change our perspective on a great condo project when we see customers mistreated and we see a total lack of respect and flexibility from the developer.  Of course Miami Real Estate gets a bad rap, you have hundreds of people who are getting little to no help regarding their options and many developers are turning their back on them and offering no help whatsoever.  In the case of Mei, these foreign buyers put a nice chunk of change as a down payment and never closed, with the hopes that part of their deposit could be applied to a lower priced unit in the same building.  After months of back and forth, they were told that their deposit money was used for construction and the only way to apply it to another unit of less value, was to apply pre-construction prices which are in excess of $100,000 from current prices.  To top it off, here’s the unedited email we received from the broker yesterday,

the only relavent statement at this time is

the 25% of the original deposit is their right to have returned.

Nothing else is of any importance.  Today is today.  Their Statutory

rights to a portion of their original deposit are granted by law.

Our prices today are firm and non-negotiable!

So what is the client’s option???  Even if they were to hire an attorney and get anything accomplished, wouldn’t it leave a sour taste in their mouth about the whole experience?  I say walk and hire that attorney to get you the most money possible from that deposit.  You may be entitled to more than the 25% (but remember I’m not an attorney).

There are plenty of condo projects in Miami Beach that are flexible and are willing to work with willing and able buyers.  I find it appalling that some developers are turning a blind eye at today’s real estate market conditions and are using deposit leverage as a trap.

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Yesterday I posted this photograph on our photo-blog as well as Twitter and Facebook and received all kinds of horrific responses as if Termites were the end of the world.  You would be amazed at the amount of people that run from a property if they hear it has termites and I’m here to try to clear some myths.

First let me say that if you are buying a house anywhere in Miami or Miami Beach, it is very common to find evidence of termites.  Termites thrive in humid climates and Miami = humid capital of the world which means EXPECT TERMITES!  The real question for you as a buyer or even a home owner should be if there are live termites and second, how bad is the damage they have caused (if any).  Most of the time, even if you find evidence of live termites (like the photo of the fresh droppings above), it doesn’t mean there is major damage – that’s why a good, reputable building inspector is not just necessary, but crucial.

A lot of building inspectors are not equipped with in-depth knowledge about termites, so when all else fails, call a licensed termite company directly to verify information from building inspectors – if you want to read a funny story about a building inspector who gave scary and funny information about subterranean termites, please read Miami Shores Inspection Comedy.  Just be smart about interpreting findings and don’t be afraid to double check “experts” opinions (I know it can be frustrating, but a lot of these industries are not regulated).

Here’s the 411 from Guarantee Floridian:

Whenever a wood-destroying organism inspection is to be put in writing, the State Form 1145 must be used and certain guidelines must be followed. According to Florida Statutes under Section 482 only pest control companies that are licensed in the category of termite are permitted to issue Form 1145/Wood Destroying Organism Reports. These reports are sometimes referred to as “Termite Inspection Reports” but this is misleading. According to the State, Wood destroying organism means arthropod or plant life which damages and can re-infest wood in a structure, namely termites, powder post beetles, and old house borers, and wood decaying fungi.  Banks and lenders usually require a wood destroying organism report to be completed before they issue a mortgage.

One other thing to remember is that even if you buy a home that is termite free, it doesn’t mean it will remain that way forever.  It’s good to keep a termite warranty that usually costs only a few hundred dollars per year and then will cover re-inspections and actual treatment if needed.

Hope the myths are covered and fears gone – don’t be afraid to hear that your Miami Beach home has termites, expect it and be ready to address the issues.

By the way….we have a new Miamism Facebook Page – tell us how we’re doing and stay on top of the conversation:

Miamism.com |

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Looking into our real estate sales in the past few years Rick and I realized that a lot of these have been estates.  People like you that contact us because they inherited a property in Miami Beach, want to sell it and don’t know where to start.

Selling an estate is not easy, the properties are usually in disrepair and not in very good condition, they need to be emptied, decluttered and basic deferred maintenance issues resolved.  The idea is for you to get top dollar for your property and need to make sure the house is in good showing condition and can stand strong against competing listings.

Needless to say, Team Miamism coordinates everything for you – we get you quotes from contractors, donate furniture or call antique dealers for you, supervise the jobs and make sure these are completed before you pay and pretty much act as a middle-man of sorts for you if you are not local.

Here’s what some of our absentee clients have to say about us:

I wanted to take a few minutes to express to you how very grateful I am to you for all you did to sell my Mother’s home in Miami Shores.

Your dedication, professionalism and diligence went way beyond the call of duty.   You did everything possible, in a very distressed real estate environment, to market our property and make sure it had a tremendous amount of exposure.

You spent endless hours reviewing and discussing contracts with me.   No question or concern was too small for you to go over with me.   You were both very available 24/7!!

Besides your real estate expertise and credentials you bring a wealth of knowledge in architecture, building, zoning etc., which was extremely valuable.

Please know how very grateful I am to both of you for selling my Mom’s home and making the experience such a positive one.   You are to be highly commended.

I would most highly recommend you both to anyone needing a Realtor.

Pete Ryan

Rick and Ines, you were simply great! You worked as hard as anyone I have ever dealt with. Every lead was pursued. You had my best interest in mind every step of the way. You guided me, counseled me and calmed me! You returned every call and called or emailed on your own to give me news and updates.

Every showing of my property was given your personal attention and highest priority. Conducting business from out of state you showed me many courtesies and often took care of details I could not address from afar. I am so glad I was referred to you. Even in the midst of a very difficult real estate market you performed admirable. Thank you,

M. Davis

If you recently inherited a property and want us to take a look, just call us.  I personally have a great time with estate sales – my architectural expertise kicks in and our clients can’t be any happier.  Win Win for everyone.

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Do you know if the Miami Realtor you hired is a bully?  Have you even thought that this could be possible?  Maybe you are aware of it and think it could be advantageous “if they are bullies, it could mean that they will know how to negotiate a deal and work for my best interest!” – think again

Realtor Bullies only care about themselves, their bottom dollar, how much inventory they have and what their quotas are.  They don’t care about you and your property, quite the contrary, they will guide traffic to other listings of theirs if they think it will benefit them more.  They won’t care about business ethic and they will put up quite a front.

These bullies are all around us, doing business for years and no one reports them to the ethics commission because it can hurt you more in the long run.  They cheat other agents from their commissions, they cheat clients from making more money and they are around to stay.

The stories I hear at the Miami Shores Tot Lot sometimes make me cringe.  I always ask people why they didn’t take their time to report them to the board and it’s always the same answer – “we moved on and did not want to bother with it.”  We’ve experienced their tactics first hand and it is always so disheartening but makes total sense why the real estate industry has such a bad reputation.

We were recently hired by a couple that told us they hated Realtors and would speed up at an intersection if they knew the person crossing the street was a Realtor….OUCH!!  We told them not all in the industry were bad and we would prove it.  Yesterday we received a note saying:  “We are really grateful for everything you’ve done and you were right, not all Realtors are the same”.

So please don’t be tricked into hiring a REALTOR BULLY – do your homework, ask around and make sure you know how they handle business – you may be surprised how many of them are out there.

POSTCRIPT:  almost forgot the most important part – why should you ultimately avoid Realtor Bullies?  Because people avoid bullies like they do the plague.  Other agents will not want to show their properties, or subject their clients to their badgering, will not want to do business with them and will avoid dealing with them – not good if you are trying to sell or buy a property….just food for thought.

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Miami Beach Real Estate circumstances change on a regular basis and it’s good to stay informed, but almost impossible to stay on top of trends unless you are knee deep in the business.  That’s our job here at Miamism, to let you know what’s going on in order to prepare you for certain scenarios and help you become a better informed consumer.

You may have heard both Realtors and Mortgage brokers complain about appraisals and how these are killing so many Miami Beach real estate deals lately.  It used to be that a home seller could pay for an appraisal to get a better idea of how to price their property but that is no longer the case – you can expect an appraisal prepared by a bank for financing purposes to be more conservative. (please read  You think your home is worth how much?)

It’s gotten to a point where 2 different appraisers chosen by the same bank and looking at the same exact property, can arrive at totally different figures.  How could that be possible if appraisers should all follow the same guidelines?

According to Florida Real Estate Principles “Appraising is considered to be an art, not a science, although the appraisal process involves mathematical calculations, appraisers also use their own judgement when appraising real property” – so of course it helps if the appraiser knows the area they are working in and the idiosyncrasies associated with each market, but this is very seldom the case.

We recently represented a buyer and executed a contract on a property – both buyer and seller agreed on a price and were waiting on bank’s appraisal to finalize financing.  The deal fell apart because the appraisal came in way below the agreed upon price.  We knew we were in trouble when the appraiser called us three times to guide him to the property because he was lost and when he finally arrived we noticed his license plate was from none other than Minnesota (no offence to my dear friend Teresa Boardman) – but we can agree that Miami Beach real estate is totally different than St. Paul’s.

This appraiser used properties that were far from being comparables, from areas that made no sense and property types that were beyond absurd.  Although we requested an appraisal review, this process was out of our control and we could not salvage the deal.  One week later the listing agent and owner accepted a deal that was 10% lower than our client’s offer, went through the same process, but in that case, the appraisal came in higher than our original offer. So how can 2 appraisers come up with a value of a property with over a 20% disparity?  Talk about a loss loss situation for both our buyer and the seller – the only one that came out benefiting from the disparity was the final buyer who got a great deal because of a major flaw in the financing sector.

In our opinion, a few years back, appraisals were coming in artificially high.  In today’s market, appraisals are coming in artificially low.  We see sellers today pulling their properties off the market because of appraisal issues, we also see a lot of frustrated buyers and we see these issues only getting worse.  Some people claim that these matters are natural ways for markets to correct themselves, we just shake our heads and are ready to address problems on a one by one basis and prepare you for worst case scenarios.  It used to be that a property was ultimately worth what a buyer was willing to pay and a seller willing to accept…recently, we question the validity of that phrase.

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