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Miami is a Winner!

When it comes to Real Estate markets Miami is a winner, especially for international buyers looking for a stable environment to invest their dollars and have a winter getaway to escape to. Take Marc Peredis, MD of an upscale furniture design gallery in Soho London. Marc came to me two years ago in search of a little beach pad, in the heart of the action in South Beach..and we found him the perfect place. Two years later he has seen appreciation in the property value and couldn’t be happier! …just a word of warning if you choose to work with me as your Realtor…you may well end up in the local paper just as Marc did in the UK’s Evening Standard!

Miami Real Estate Market Report 2012

If real estate history does repeat and the economists are correct, 2012 was the new 2002. Last year was the return to normal for real estate. With annualized homes sales at 4.6 million nationally in 2012, we are close to 2002’s 5.5 million mark, which has now been defined as the normal level for sustainable real estate sales. Interestingly enough, a look back at 2002 in South Florida looks very similar to 2012. Ten years ago, combined numbers for Miami–Dade and Broward showed an overall inventory level of just over 20,000 residential properties for sale which at the rate of sales represented about 5 months of inventory, very similar to the numbers for 2012. It is when you start evaluating pricing that things really get interesting and the differences start to emerge. The average sales price in both counties combined has risen from $446,000 to $620,000 in the last 10 years, with many peaks and valleys along the way. The most significant growth trend has been in what is referred to as the “super” luxury market. Not a high end grocery store, the super luxury market are those properties that define the top tier of property sales in [...]

Local Miami Realtors get creative to gain appeal

Shelly Northern and Kelly Charles of ONE Sotheby’s International Realty want homeowners on Miami Beach’s Pinetree Drive to remember them. So the two (aka “The English Girls”) spent a day and a half blowing up, tying and delivering 300 balloons to 150 homes in the area for Valentine’s Day. “We like to do fun, creative things to show people we’re willing to go above and beyond,” explains Northern. We want to distinguish ourselves and get to know people in the neighborhood.” Both single and from England, Northern, 37, and Charles, 35, met in April 2011 at an early morning Royal Wedding viewing party at the National Hotel. The two became fast friends — and started working together last fall. They began “creative gifting” on Pinetree Drive in October, delivering pumpkins for Halloween, followed by scarecrows for Thanksgiving, and snowman heads for Christmas. For New Year’s, they mailed calendars. “They are outgoing, personable and smart,” said long-time Pinetree Drive resident Rose Gurfinkel. “If the opportunity arises, I would consider using their services and referring them.” The gals’ plan for Easter/Passover: “Maybe daffodils,” says Charles. The duo can be reached via phone/text at 786-525-1721 (Northern) or [...]

Miami Art Deco Weekend, Ocean Drive Jan 18th-20th 2013

This weekend, from Friday January 18th, to Sunday January 20th is the annual, South Beach Art Deco Weekend! “ART DECO WEEKEND sees world-famous Ocean Drive even more energized with 300,000 visitors, checking out the local establishments and hundreds of vendors exhibiting their wares. Whether Artists, Craftsmen, Chefs, Bartenders, Car Collectors, or any variety of Art Deco Retailers, all showing the best they have to offer. ALL HIGHLIGHTED BY FRIDAY’S ALWAYS-POPULAR ART DECO PARADE. • Throughout the weekend the LESLIE HOTEL FACADE, as it did in 2012, will serve as a screen for a 30-minute 3D Mapping Project (“FACES OF THE DECADE”) by Alternative Media International (AMI). • Four Art Deco related movies will be shown on the lawn in Lummus Park at 8th Street. Scheduled for this year’s ART DECO FILM FESTIVAL are: “SOME LIKE IT HOT” (1959), “THE ARTIST” (2011), “THE GREAT GATSBY” (1949), and “MIDNIGHT IN PARIS” (2011). One of the most compelling displays at Art Deco Weekend 2012 was Alternative Media International’s (AMI) 3D Mapping project projected onto the facade of the LESLIE HOTEL. The group returns this year with “FACES OF THE DECADE,” a piece focused on the stars of vintage cinema, set [...]

Buying Real Estate in Miami – The South American Way…

Here is an interesting article in today’s NY Times regarding purchasing Real Estate in Miami. From what I see and experience in our Miami market on a daily basis, it seems to be a very representative piece. There are new developments and they do usually require large down payments. Primarily traditional lenders do not want to lend on empty buildings or new buildings. Once they reach a level of around 50% sold they loosen up and traditional financing with 20% down becomes more viable. So at the start it is usually cash buyers or seller financing and I usually see that, that does require at least 50%. New and pre-construction are also often requiring deposits just to reserve the units…. and yes, they are selling! There are so many cash buyers here that it has probably knocked on to the developments and it is now the norm. Interesting to see that, that is the way things are done in South America, hence will certainly have an impact in Miami as a large number of transactions are South American buyers.

Sell Your Miami Property

Realtor Kelly Charles launches a new book that she co-authored with more than 20 other real estate professionals. Sell Your House Fast for the Right Price is full of valuable insights and success stories, all based on the experiences of experts from all over the US. “One theme that I kept seeing run through the book involved seeing the house in a detached way,” says Editor Erica Glessing, who selected the authors for their successful track records. “You have to move out mentally and let the professional changes take place for a smooth home sale.” “It was so exciting to be asked to write for this book,” says Kelly Charles, “Miami is such a fun market to work in, it was great to share my love of the city and my love of real estate with a wider audience. I’m sure whoever reads this book and becomes inspired by the stories will enjoy a very successful house sale.” The authors of “Sell Your House Fast for the Right Price!” have sold more than 11,500 homes and sell homes in markets including Los Angeles, New York, Vancouver, Seattle, Boston, Miami, Birmingham, Atlanta and more. For more about the book and the [...]

What You Need To Know about the 3.8% Tax and Real Estate

1. It is not a tax on all properties. It is a tax on SOME investment income from interest, dividends, rents and capital gains. 2. It is not a tax on all people. Only individuals with an Adjusted Gross Income of $200,000 and couples with AGI over $250,000 will be included. 3. It is part of Health Care reform. 4. It is not a transfer tax, it is an income tax on investment income. 5. It does not affect the capital gain exclusions on the sale of a principal residence. Currently thefirst $250,000 of gain for a single person and $500,000 on a married couple is exempt from capital gains. The tax does, however, apply on amounts over the exemption. 6. What real estate does it apply to? For those taxpayers whose AGI is above the limits , the sale of a principal residence when the gain is over and above the exempt amounts, the sale of second homes and invest property and the income derived from investment property. 7. There is a separate tax for high wage and self employment business income. When investment property income qualifies as business income and not property [...]

Inventory Declines in Miami

How is the Real Estate market in Miami? That has to be the most commonly asked question I get as a Real Estate agent here in Miami Beach. The answer depends on whether you are buyer or a seller.. If you are a buyer, the Miami market is still favorable in relation to most other cosmopolitan cities in the US – or even the world. In a recent survey conducted by the Miami Association of Realtors, 80% of internationl buyers stated that Miami property prices are lower than their countries of origin. This is despite the fact that Miami property prices have seen double digit appreciation consistently since December last year! That is a remarkable recovery! In fact according to Realtor.com, Miami has been the number 1 turnaround market in the US! So what does this mean from a seller’s perspective? Well even better news… for all those sellers who have been holding on waiting for things to improve.. not wanting their property sitting on the market for months on end, those days are gone! We are down to just 3 to 4 months worth of inventory, in comparison to back in 2008 when we were seeing up to [...]

A Miami Match Made in Heaven

As Tropical Storm Isaac makes it way through the Caribbean and South Florida I’m still working hard to provide luxury service to my clientele and expand my services to benefit clients. I am proud to announce that I have teamed up with The Advantaged group. The Advantaged offers Yacht Charters and Yacht Brokerage services. Take a look at one of the finest 90 foot Pershing superyachts available for charter anywhere in the Miami area. The Pershing 90 is another giant leap forward for Italian yacht builders and sets new standards in fit and finish. Read More Aggressive, sleek and fast, the Pershing 90, like the missile it’s named after, is certainly striking. With its lean, aerodynamic profile, dramatic metallic-silver looks and thoroughbred performance, the 90-footer is not one to miss its target.The semi-custom build has the spaciousness of a megayacht and is beautifully styled by designer Fulvio De Simoni with the highest attention to detail both inside and out. See More If you’re considering buying a Yacht, then you may also be interested in a waterfront home with a private dock space such as this 5 bedroom, 5 bath recently remodeled home with a private pool and dock [...]

Is your home worth a Gold Medal?

What a great trip to London! Not only was the city a-buzz with Olympic Game fever, the sun was shining (mostly!) and Great Britain walked away with 29 gold medals, coming in third after the US and China (although we did have the most medals per competitor!). Whilst there I also had the opportunity to spend time at Sotheby’s International in London along with a tour and a fabulous lunch at the auction house with Christine Petersen, Head of International Referrals and Relocation. ONE Sotheby’s International Realty is the South Florida franchise of this exceptional company. Just last week ONE Sotheby’s co-brokered a sale of a $47 million waterfront mansion. The highest sale ever recorded in Miami-Dade. How do we do it? Properties listed with Sotheby’s International will have the opportunity to be showcased at our 600 offices throughout the world and displayed at our Sotheby’s auction house in London. No other company has the ability to provide such high international exposure. If you would like to learn more about Sotheby’s International Realty, contact me today!

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