Real Estate Darwinism

A lot of people relocating to Miami ask us about “Bugs” - well, there are plenty of bugs in Florida and as much as I hate to admit it, you do get used to them (I know, I know pretty lame for someone who absolutely hates roaches).

Here are 15 things you should know about Florida Bugs:

1.  Another name for mosquitoes is B-52’s

2.  Cockroaches can get so big that you can catch a ride on them

3.  A favorite Florida pastime is to see who can snort the most no-se-ums without chocking

4.  According to Chris Griffith, the unofficial Florida State Bird is The Mosquito

5.  Best selling fragrances in the stores are known as “Cutter Bug Spray” and “DEET”

6.  Citronella candles are a common household item

7.  Grasshoppers are so big they look like lobsters

8.  If a perfect stranger smacks you in the face for no particular reason, just nod and thank them

9.  If you see people doing a strange dance on a sandy beach, don’t join them - it’s probably sand fleas

10. There are 3 seasons in Florida - rainy season, hurricane season and love bug season

11. Dayngr can attest to having seen mosquitoes the size of a small Volkswagen

12. Love Bugs can get so intense that there are windshield washing stations along the Florida Turnpike for the splattering nuisances

13. Dragon Flies are so fast that they can chase you down the expressway

14. You are not a Floridian if you have never gotten hit in the face by a flying Palmetto Bug

15.  Florida Ticks don’t just suck blood, they are known to drink Mojitos

For those of you relocating to Miami, please realize that this article, although true, is for entertainment purposes - some of the descriptions given may be slight exaggerations.

**graphic courtesy of my older son who knows I despise cockroaches**

 

 

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It’s no news that the Euro is strong and Europeans are buying Miami Real Estate.  I read the other day (but can’t remember the source) that 1 out of 4 real estate sales in Miami are foreign national deals.  Rick and I have been dealing with foreign nationals since we began our real estate careers.

We both speak Spanish fluently (I was born in Venezuela and Rick is of Venezuelan and American descent) and we have family all over Europe - so we have close ties.  Because we have so many foreign national customers, we have come up with a plan to help our clients from abroad and have a complete system in place for when they are ready to buy and/or sell.

If you are a Foreign National buying Real Estate in Miami - ask yourself these questions:

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This is a Miami Real Estate Market Report for the months of January, February, March and April 2008. It is obvious that some real estate markets are seeing more movement but others remain quiet. If you are thinking of buying Miami real estate, make sure you work with a Miami Realtor that knows the area and the market fluctuations. If you are selling, May should be a great month right before the slow Summer months.

Miami Shores Real Estate Market Report

There are currently 239 listings in Miami Shores: (6 more from last month)

• Highest priced listing is $2,999,000
  
• Lowest priced listing is $199,900
  
• Pending Sales (Properties under contract):12
  
• Closed sales in 2008: 25 (5 of these in April as opposed to 12 in March)

14 of those 25 sales were under $500,000 and the highest sale was $860,000 at 490 NE 96th Street. And as I said last month, 'this particular house was purchased for $1,508,000 in September 2005¦.talk about a big OUCH for those sellers!!

Bay Harbor Islands Real Estate Market Report

There are currently 19 single-family home listings in Bay Harbor Islands: (one more from last month)

• Highest priced listing is $5,200,000
  
• Lowest priced listing is $575,000
  
• Pending Sales (properties under contract):1
  
• Closed sales in 2008: 0
  

No sales this year in Bay Harbor Islands. That has to be tough for those people that HAVE to move.

Surfside Real Estate Market Report

There are currently 87 single-family home listings in Surfside:(1 less than last month)

• Highest priced listing is $8,000,000
  
• Lowest priced listing is $349,000
  
• Pending Sales (properties under contract): 4 (3 more than last month)
  
• Closed sales in 2008: 8 (1 of them in April)
  

7 of those sales were under $600,000 and the highest at $3.2 million of a bayfront home (1356 Biscaya Drive) purchased in 2002 for $2.2 million.

There are currently 239 condo listings in Surfside: (as compared to 231 last month)

• Highest priced listing: $2,600,000 a 3/3 at Azure
  
• Lowest priced listing: $153,000 a 1/1 at Seaside Terrace Condo
  
• Pending Sales (properties under contract):10 (1 less than last month)
  
• Closed sales in 2008: 12 ( 6 closed sales in the month of April with highest sale at $1,250,000 for a 3/2 at Champlain Towers East and the lowest sale at $173,000 for a 1/1 at 9140 Collins Ave Condo)
  

I love Surfsides density and the 12 story max allowed on the oceanfront condos. If you dont like high-rises, Surfside may be for you. It also has a great close community with shopping and restaurants as well as Bal Harbour Shops within walking distance.

Fisher Island Real Estate Market Report

There are currently 138 listings in Fisher Island: (4 more than last month)

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
  
• Lowest priced listing: $275,000 for a 1/1 at Marina Village
  
• Pending Sales: 1 (as compared to 2 last month)
  
• Closed sales in 2008: 4 (1 closing in April - $750,000 for a 1/1 at Seaside Villas)
  

Fisher Island is Fisher Island…no explanation needed.

Aventura Real Estate Market Report

There are currently 2237 condo listings in Aventura: (88 less than last month)

• Highest priced listing: $6,000,000 for a 4/6 at Porto Vita
  
• Lowest priced listing: $81,888 for a 1/1 at Biscayne Lake Gardens
  
• Pending sales: 182 (compared to 134 last month)
  
• Closed sales in 2008: 195 (55 closings in April alone)
  

The highest closed sale this year in Aventura was at Porto Vita for $3,600,000 and the lowest was $59,000 at Commodore Plaza which is a 55 and over community.

Biscayne Park Real Estate Market Report

There are currently 54 single-family listings in Biscayne Park: (4 less than last month)

• Highest priced listing $975,000
  
• Lowest priced listing $190,000
  
• Pending sales (properties under contract):2
  
• Closed sales in 2008: 4 (3 sales in April)
  

The closed sales in Biscayne Park have been $275,000, $300,000, $310,000, $353,000

El Portal Real Estate Market Report

There are 62 listings in El Portal: (1 more than last month)

• Highest priced listing is $925,000
  
• Lowest priced listing $215,000
  
• Pending sales (properties under contract):0 (compared to 2 last month)
  
• Closed sales in 2008: 1
  

The only closed sale this year in El Portal was for $259,000 for a 2 bedroom / 2 bathroom house located at 465 NE 89th Street.

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

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Even for experienced Miami Realtors, visiting new condos is always exciting.  I for one love to check out the finishes and the preliminary design flaws.  Then I tear them apart with my clients, from finish choices to distribution problems.

This week I had the pleasure of visiting Marina Blue, designed by none other than Arquitectonica.  Located at 888 Biscayne Boulevard, in what Miami Realtors refer to as 'the gridlock, because it is right across from the American Airlines Arena, Bayside Marketplace, The Center for Performing Arts, the new Museum Park, and the exit to I-395 that takes you to Miami Beach.  I have to admit that the traffic is always a little intense, but what else do you expect for downtown Miami?

I figure if you dont want the action, excitement and traffic, this may not be the building for you.  On a positive note, you do have the People-Mover right behind the building that takes you through downtown Miami and possibly to the talked about Wholefood Market Place that is rumored to be built nearby.  The concept of this grouping of buildings which include:

The Marquis, Ten Museum Park, 900 Biscayne and Marina Blue

Is Green Urbanism - walkable communities close to everything, close to the action and with good public transportation.

I admit I was impressed with the finishes and the scale of the spaces.  The lobby was austere and grand, the hallways were not finished, doors not painted (but we expect that from a newly finished building) and the common areas almost completed.  The skybeach, although a sexy concept, in my opinion will not last long. (the wind is always powerful and to keep the sand off the interior common areas is going to be tough) - I hope they prove me wrong.

Heres some pictures of the pool areas and their views:

We saw a one bedroom unit on the 5th floor and even that one had amazing views:

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If you are buying a Miami waterfront home, you are likely to have a boat or will be considering a boat in the near future. We are constantly asked a number of questions regarding waterfront purchases and Rick and I decided to write a list of 7 important factors to consider when buying a waterfront home in Miami.

Condition of Sea wall - It is important for anyone buying a waterfront property to get a seawall inspection by a structural engineer or a seawall specialist. Inspections should include not only the actual seawall but also settling cracks within the main house, patios and pool as well as dock areas. Because most canal systems in Miami and Miami Beach are artificially made or made with landfills, the integrity of the seawall could ultimately determine the integrity of the structure of the home. Doing a visual inspection of seawalls of adjacent properties is also recommended in order to avoid future settling.

Type of waterfront property - If you look at an aerial view of Miami and Miami Beach, you will notice that there are numerous types of waterfront properties: lakes, rivers, canals with direct ocean access, canals with fixed bridges, canals with no ocean access, non-navigable canals, and bayfront homes, to name a few. Depending on the type of boat you have, you will need to consider fixed bridges (clearance heights), depth of canals, and proximity to bay and or ocean access. waterfront communities in Miami that have direct ocean access but you have to navigate at idle speed for miles which can mean being on your boat for a couple of hours before you can really do some boating.

Boat Dock - it is important to inspect not only the condition of an existing dock, but also if the type of dock can accommodate your boat. There are a lot of canals in Miami with natural coral sea walls and no docks - you may not want to dock your boat next to natural coral. If there is no dock on the property, it may be a good idea to contact DERM (Department of Environmental Resources Management) about what kind of dock they will allow in a particular canal. DERM may even send an inspector out to the property in order to make recommendations.

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