Art Basel Miami Beach 2011

Art Basel is upon us once again! Can you believe this will be the 10th year Miami “hosts” this event?  I don’t know if it gets bigger each year or if I just get more and more overwhelmed.  Where’s the best party? the craziest exhibit? what do I see, where do I go?? Official dates are from December 1st to the 4th, but the party has already begun.

What I love the most is all the controversy about Art Basel bringing culture to Miami – talk about a nice way to light a fire under some local art curators.  Some things to watch out for:

• Art Video will be presented in SoundScape Park on the large-scale outdoor projection wall of the New World Center

• Collins Park artwork exhibits and performances by renowned artists as well as emerging talents (collaboration of Art Basel with Bass Museum of Art)

• Art Basel Apps

       

Remember that there will be all kinds of events throughout Miami that are not officially part of Art Basel, but that offer quality exhibits as well.  Areas like Miami’s Design District, Midtown Miami and Wynwood are some to keep an eye on.  We welcome feedback, photos and videos of your experiences.  Get ready for Miami Art at its best!  Just take a deep breath and absorb as much as you can.

Miami Beach Real Estate Search Porn by Realtor.com – October 2011

More positive data about Miami Beach from Realtor.com!

• Miami, FL was the #19 most searched market in the country in October 2011

• Median list prices for homes in Miami, FL hit $249,999 in October 2011, a 25.06% increase from one year ago this month, and 0.00% increase from September 2011.  The national median list price in October 2011 was $189,900, a 2.65% increase compared to October 2010.

• Active for sale inventory of homes in Miami, FL in October 2011 leveled out at 13,457, a -49.23% decrease compared to October 2010.  National inventory counts for October 2011 were 2,116,794, a -20.77% decrease as compared to a year ago.

• The median age of inventory in Miami, FL in October was 90 days, a -5.26% decrease compared to September 2011.  Nationally, the median age of inventory was 110 days, a 2.80% increase compared to September.

I also asked them to break down those numbers by zip code, based on the fact that I don’t like generalized data.  Just look at my housing report for Miami Shores, Bay Harbor Islands, Surfside and Fisher Island for October, and you’ll see that the data above does not apply to those areas.

• For zip code 33138 which includes most of Miami Shores, but goes beyond to Miami’s Upper East Side as well as Davis Harbor and Shorecrest, The Median List Price is $289,000 with a 28.44% increase from a year ago, and a 40.03% decrease in inventory from one year ago.

• For zip code 33154 which includes Bay Harbor Islands, Surfside and Bal Harbor, the Median List Price was reported at $520,000 with a 13.29% increase from one year ago, and 43.48% decrease in inventory.

• Zip code 33109, which is Fisher Island, reports a Median list price of $2,290,000 with a 9.05% increase from a year ago, and 30.63% decrease in inventory.

In my opinion, it is crucial to pull areas away from the generalized data if you are scrutinizing the local housing market.  Remember that an appraiser will use comparable properties in the proximity of the subject property and will only go back a certain amount of time and never more than 6 months.

And to know how Realtor.com arrives at its numbers:

Each month, Realtor.com surveys up to 250 Metro Service Areas (MSA) throughout the nation and monitors real estate trends including consumer search behavior, median list prices on for sale homes, active inventory counts and median age of inventory. The information is released to local markets to help consumers and real estate professionals as they work together to successfully navigate their local market.

And to top off the good news,Dr. Lawrence Yun, chief economist and senior VP of research for the National Association of REALTORS, reported at The NAR Annual Convention that Florida is one of the markets to watch in 2012, with regards to recovery.  No surprise that when you hit rock bottom, the only direction to go is up!

Miami Beach Mod Homes – November 2011 edition

Seems that our MIAmodHomes series has sparked up some interest, and we thank you for your enthusiasm. I guess it’s true what they say, to show passion in what you do is key to success and architecturally significant homes is what makes me tick. This month’s edition is in The Sunset Islands (Sunset Island 1 to be exact). The home was built new in 2008, with pool, dock, and everything you would like from a contemporary home.  This one defines sexy architecture and is, without a doubt, real estate porn at its best.

Miami Beach Mod Home at 1531 W 22 Street

listed for $8,900,000

I hate to make it sound dirty, but good architecture makes me salivate and this home is like gourmet for the palate.  I’m guessing the previous house was completely torn down and the up came this beaut on the existing 75′ X 175′ lot (13,125 sf) < that’s 75 feet of water frontage.

My first thought was…oh no…someone made a big mistake! They totally over built what should have been a Sunset Island 4 location and this, as well as the proximity to the bridge, will definitely hurt the sale.  No matter how intricate the workmanship is, the price tag is not for Sunset Island I.  Putting that aside, whoever falls in love with this house, will not mind the location, but will be thankful for the attention to small details.

So what are some of these details I speak about? Let’s start with the custom-made stainless steel front door and matching pair of automatic gates in the front of the house.  These are then perfectly complemented by interior and exterior stainless steel handrails on staircase and balconies.

And then we can take a look at how the very linear architecture of the home is juxtaposed with round windows or portholes almost like the oculus of a classical dome.  These portholes frame views to give you perspectives beyond your field of vision.  I’m not much for the “overly done”, but the simple nature of how these are placed, gives me goosebumps.

The interiors are minimalist and the house is decorated very tastefully with modern classics and very white furniture.  As a mother of 3, as much as I like white, I churn a little thinking of maintenance.  But that really has nothing to do with the house, but personal taste.  The actual kitchen flows with the rest of space as if it was a piece of furniture – living spaces have no boundaries or separators really redefining the word “living room.”

If I have to critique something, just for the sakes of finding something wrong with this house, it would be the choice of material for the wall by entrance.  Although it does help delineate the space, I would have loved to see concrete like Tadao Ando’s magic walls. THAT, would have made this house flawless….almost, (wait ’till the drum roll at the end).

Bedrooms are just as impeccable as the rest of the house, with minimalist finishes but well thought out comfort.  Don’t miss the window treatment details with recessed tracks, which obviously also contain ambiance lighting. From the choice of sink bowls to mirrors and faucets….design is continuous throughout this home.

Exteriors frame impeccable vistas and create living vignettes that are warm and welcoming, with summer kitchen, covered porch, infinity pool and manicured lawn.  The only thing missing is a 60′ Azymut parked on the private dock.

And if you are not disappointed yet at the fact that I could not tear this house apart for the life of me, I did find one detail that drives me absolutely insane. DRUM ROLL PLEASE!!

One of the porthole windows in an upstairs bedroom is horribly framed with a roman shade.  Couldn’t they do a custom window treatment to suit the circle?  Vitruvius’ man of Perfect Proportions is probably rolling his eyes in disbelief!  Eliminate the roman shade or the window! The Barcelona chair right under it is not going to detract my attention! ….this is the one detail that could break a sale….seriously people!

I have to compliment the marketing photos of this property, once again, a Miami Beach luxury home featured correctly, hats off!  And to give you the boring but necessary specs of the home – 6 bedrooms, 7 bathrooms, 2 half-baths, 7,148 sf of living space, and northern exposure.

Price negotiable??  (cough cough) … I’m thinking yes.

Fisher Island Condos – Real Estate Market Report – October 2011

There are currently 106 Fisher Island Condos for sale: (6 less than last month)

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
• Lowest priced listing: $81,500 for a studio at Marina Village Gardens (short sale) << in heart of commercial sector (perfect for crew or visitors)
• Pending Sales: 5 (3 more than last month)
• Closed sales in October: 2  (1 less than last month)

The 2 Fisher Island Condos sold in October were:

• 2426 Fisher Island Dr #5206 – Bayside Village condo listed for $1,590,000 and selling for $1,450,000.
• 2435 Fisher Island Dr #5305 – Bayside Village foreclosure condo listed for $699,900 and selling for $735,000.

Fisher Island is definitely reaching normalcy with the regular cold months with no real estate activity and the random multi-million dollar sales.  The 2 types of buyers for Fisher Island are those looking for privacy for their second home destinations and those that want to live there year round because of the island amenities, family feel of the island and unparalleled security.

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

Historic Cuban Barrel Tile

A lot of you will be reading this thinking its a bit boring (at least Rick thinks so), but I wanted to address this because a lot of our Miami Beach Real Estate customers are constantly asking us about certain elements  of historic homes – so here it is …proceed with CAUTION.

Historic Cuban Barrel Tile is one of the key elements found in Mediterranean Revival Architecture.  Key, because it is one of the most visible elements and because without it, a historic house can seem stripped from its roots.  It is the one single element that has a history of its own.  It is a handmade or hand processed barrel natural clay tile, either made in Cuba prior to the imposition of the U.S. Embargo, or manufactured in 18th Century Spain, salvaged from buildings in Cuba and imported to the United States during the 1920s and 30s. (hence the name ‘Historic Cuban Tile’).

When buying a Miami Beach historic home it is important to identify the original elements of a structure in order to know how well preserved the property has been through the years.  Most buyers of historic properties will look for properties that have maintained its historic integrity or properties that have the potential to be restored.  Historic Cuban tile is one of those elements that are cherished by the ‘historic community’, but don’t be surprised if finding a home with Cuban tile may mean that the roof is not water tight and a new roof may be necessary.  There are several steps that must be taken to replace a roof with Historic Cuban Tile.

1. Identify that a property does in fact have Historic Cuban Barrel Tile.  A lot of these tiles have an embossed identification mark usually located on the convex side at the wide taper end of the tile.
2. Once tile is identified as historic and property needs to be re-roofed, all means should be taken to salvage the tile.
3. Historic Cuban tile can then be mixed with modern hand-made tile, where the historic tile is used in caps, rather than pans to take full advantage of the visible portion of the new roof.

Please note that if Historic Cuban Tile was not found on the property, there are many ways of building a historically appropriate roof.  Historic Cuban Tile can be purchased, or when that is not financially possible, there are manufacturers of hand-made barrel tile that can be used to achieve the original look of the roof.   There are also  roofers that specialize in historic roofs, not only in salvaging original historic barrel tile, but doing installations that are historically appropriate like reapplying the tile correctly, and using double caps and/or pans on the edge of the roof line.

The overall look of a roof with Historic Cuban Tile is that of an ‘aged’ or ‘informal’ nature.  These tiles, because of their porous clay material will accumulate mold and pressure cleaning is not recommended.  There was a problem recently in Miami Shores with Code Enforcement requiring historic homes to pressure clean their roofs and every time I think of it I shake my head in disbelief.  In order to be able to appreciate our historic homes and architecture, it is important to educate ourselves on the materials, the process of construction as well as the history behind these.

The response I have gotten from this article has been amazing.  I am happy to see people interested in historic materials and more so, being interested in restoring the historic relevance of their homes.

Buying a Miami Beach Historic Home – Mediterranean Revival

As an architect, I love historic homes and the historic real estate market is one of my favorites. For those of you coming from other places in the US and even Europe or South America, Miami Beach historic homes will refer to homes built in the early 1900′s all the way to the 50′s (mid-century architecture).

I will be doing a series of articles identifying the different historic home periods and what to look for when buying.

There are 2 types of buyers of historic homes, the ones interested in historic preservation and finding homes that have not been butchered through the years with the purpose of restoring them to their original state or those buyers that love the charm but really don’t care about preservation or restoration.

Whichever buyer you are, there are some things to look for when buying a Historic Mediterranean Revival Home in Miami Beach:

• How original is the house? has it gone through transformations through the years (additions and renovations) that may have changed the original character of the home.

• Which features are still intact from when the property was built.
  • roof – historic Cuban tile
  • flooring – hardwood floor/Cuban tile/quarry tile
  • bathrooms – original fixtures and tile
  • mill-work – baseboards/crown molding/cabinetry/door casings
  • metal work – balcony and stairway railings
  • stucco – plaster on interior and exterior walls as well as ceilings
  • windows – wood casement windows or wooden single or double hung windows
  • fixtures (lamps, door hardware, knobs and pulls)

What is the condition of those original features (will you be able to match them or repair them as needed)

• How easy is it to modernize the home without affecting its historical integrity?
  • Mediterranean Revival homes did not have central air conditioning, 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 a 2-zone a/c system to avoid soffits for a/c ducts.
  • you can expect galvanized plumbing and cast iron pipes which with the years do corrode. Most historic home owners replace pipes as they remodel and many times it can be done without tearing out existing finishes.
  • electrical systems where fuses in the 20′s and would have to be upgraded to breakers as well as increase panel size for modern living. Keep in mind that wiring would also have to be updated to modern standards since they did use cloth wiring in that period. (which can be a fire hazard)

• If the house has a Historic Cuban tile roof but it needs to be replaced, there are roofing companies that specialize is salvaging as much as the Cuban tile as possible and reusing it with a mixture of hand-made modern tiles. (look at my article on Historic Cuban Tile Roofs).

• I am all for modernizing historic homes to fit today’s living standards, but this can be costly. If you do want to replace windows, make sure you respect the original proportion to the final look and feel of the home is not changed. (look at my article on Using the right window)

• When re-doing bathrooms, visit historic homes to get a feel of what colors and materials were used in the 20′s. Pay attention to rectangular wall tiles placed horizontally and wainscoting as well as beaded boards. Honeycomb floor tiles, black and white schemes as well as natural stone.

• Kitchens have changed quite a bit from the 20′s, specially in scale. It’s not unusual to walk into a grandiose Mediterranean Revival home with a very small kitchen. It is possible to increase the size of the kitchen to modern standards while respecting the scale of the original home. Think of timeless materials, those that will not go out of style in a few years.

• Pay attention to the front door of the home. It is the most ignored feature of a historic home and it should not be. The front door will set the stage for the rest of the home, make sure that front door and hardware matches the period. Those modern doors with an oval stained glass will not be the right door (maybe I’ll do a post on front doors).

• 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 (which are easier to match to the original if they need to be repaired).

• Pay attention to original hand-painted features throughout the home. There are many Mediterranean Revival homes with hand-painted wood beams, chair rails or stair railings. Many people choose to keep those details and use them as motifs for decoration.

• Keep an eye out for structural flaws.  It is typical to see some settling of floors in historic homes and some hairline cracks.  A lot of the 20′s homes will need some structural reinforcements and it is common to see some sagging floor joists.  To make sure that the structural integrity of the home is intact, we always recommend for a structural engineer to inspect the home, that way you can identify minor or major problems.

• Water intrusion repairs can be a pain, but if done correctly, can save you a lot of aggravation.  It is common to see bubbling plaster under window sills or by doorways.  Since the plaster used in the 20′s was organic, the only way to totally eliminate the bubbling effect is by removing all the plaster in the area affected and re-plastering.  Make sure you use a plasterer that is sensitive to existing textures.

A lot of people love historic homes but they are not aware of the amount of work that it can take to maintain or restore them. The point of these series is to inform you of what to expect when buying a historic home.

If you have any specific questions on your historic home, don’t hesitate to contact us. Rick and I have not only owned Mediterranean Revival homes, but we have painstakingly restored them and know what it entails. Having been a member of the Miami Shores Historic Preservation Board for many years, I also have visited many historic homes and I am in close contact with local historians.

Fisher island luxury condos Fisher Island Condos – Real Estate Market Report – September 2011

There are currently 106 Fisher Island Condos for sale: (6 less than last month)

• Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
• Lowest priced listing: $81,500 for a studio at Marina Village Gardens (short sale) << in heart of commercial sector (perfect for crew or visitors)
• Pending Sales: 5 (3 more than last month)
• Closed sales in September: 3  (2 more than last month)

The 3 Fisher Island Condos sold in September were:

• 7852 Fisher Island Dr – Oceanside condo listed for $5,750,000 and selling for $5,000,000
• 2036 Fisher Island Dr – Bayside condo listed for $1,495,000 and selling for $1,350,000
• 19123 Fisher Island Dr – Seaside Village Condo listed for $775,000 and selling for $685,000

The Median sales price for September in Fisher Island was $1.3 Million and the average sales price was $2.345 Million.  And just in case you missed it, please read Fisher Island is America’s Richest Place according to Forbes.

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

Miami Beach Mod Homes – October 2011 edition

Thank you for the great feedback on our MIAmodHomes editions. Needless to say, architecturally significant homes are my forte and I truly enjoy turning them around and looking into their hearts. This month’s edition is in Palm Island, in Miami Beach, right off the McArthur expressway (or cruise-ship alley). The home was built in 1954, with pool, dock, and all the bells and whistles.

Miami Beach Mod Home at 7 Palm Avenue

listed for $5,500,000

Talk about an incredible Mid-century Modern home on Palm Island.  The massing of the facade elements and the proportions of the spaces are delicious (yes….I would eat good architecture, if I could).  It’s rare to find a 50′s home in Miami Beach that has been respected through the years, and this is one of them.  What I find even more incredible is the transition of interior and exterior spaces with large panoramic windows and a fabulous second floor terrace.

The perfect home for entertaining and it faces East with views of Star Island and South Beach….talk about ideal location.

The yard is full of mature palm trees and minimalist landscaping that lets you enjoy the view and feels like Miami.  It’s one of those typical Miami Vice homes where you can imagine perfect bodies enjoying the pool while sipping mimosas.  The railing choice for the terrace is perfect – with horizontal features that don’t take away from the view.  The use of decking material is OK….I’m sure anyone buying this beauty will rethink it.  The actual lot is 17,674 with 110′ of water frontage and of course, private dock.

I really love the informal use of the kitchen space, with the industrial appliances. But unfortunately, hate… I mean HATE the granite island – seriously??  with such simple and austere finishes throughout, they couldn’t do a glass top, or polished concrete?  At least it’s an easy fix.

The Terrazzo floors are perfect…I just don’t know about the curved elements on the inside which seem to be a recurring theme.  I’m sure anyone not interested in these standing out, could plaster them white for them to disappear.  The furniture is not staying with the sale, but I would like to take this time to commend the owners on a magnificent choice of modern classics to compliment the home’s architecture.  Hats off!!

The stairs to the second floors are beyond gorgeous….no railings, just simple and did I mention gorgeous?  Downside is that this house would not be good for toddlers or clumsy pets, and modifying the steps would be cruel.

The whole second floor happens to be the Master Bedroom.  Finishes here are a bit tired, but still very retro and nothing a little imagination can’t fix.  They had the right idea with the open shower area and framing of the bay views.  My thought is that the house is almost 3,000 square feet and has only 2 bedrooms … never an easy sale.  I’m also thinking that the right buyer will be discerning and will appreciate the home’s architectural design for what it is.   Homes like this one give me goose-bumps when I walk in and I always wonder if the buyers will respect the home or will have to completely modify it.  Hopefully they will work with the right designer to make this Miami Mod Home even more spectacular than it already is.

Oh…and the price….I’m thinking it’s negotiable (but what isn’t?).

Miami Beach Luxury Real Estate and Privacy

What exactly does buying a Miami Beach Luxury home have to do with privacy? The answer is EVERYTHING!! We are often contacted by high-profile clients that need to maintain anonymity when buying or selling their Miami Beach homes. Sometimes it may not be about keeping a low profile, but protecting expensive private art collections and valuables within your home. Rest assured that we have very solid procedures to guarantee your privacy, starting with confidentiality agreements.

Because we are immersed in Social Media Marketing, and are considered innovators in the real estate industry when it comes to the Internet, we understand the process of anonymity and privacy and know what must be done to protect you and your loved ones.  We will take the necessary steps to protect your privacy during the home buying/selling process and confidentiality will always be at the top of our priorities.

Fisher Island is America’s Richest Place according to Forbes

Well, we need to define what Forbes means by “America’s Richest place”, before we get excited, but personally, I didn’t find this to be a surprise.   To find out where this country’s most prosperous hang out, William Baldwin explains, in his America’s Millionaire Capitals article,

So I put a finer sieve on the database [IRS database of income tax statistics], zeroing in on communities where the average income within the 200K-and-up set is at least $1 million.

Result: a set of 130,400 tax returns from 64 hot spots of prosperity–suburbs, islands, parts of cities. The list of ritzy places ranges from Fisher Island, an enclave of yacht owners off Miami, to the Tribeca area of Manhattan, where wage slaves with seven-figure salaries have their chic loft apartments.

Here’s where it gets interesting, Baldwin not only calculates that Fisher Island has an average of $3.2 million per high-bracket taxpayer, but he also estimated net worths using figures on dividend, interest and business income as starting points.

In estimated net worth, the richest five communities are: Fisher Island, at $57 million per high-bracket return; Alpine, at $28 million; Medina, at $26 million; Palm Beach, Fla., at $23 million, and the King’s Point/Great Neck area on Long Island, at $22 million.

And in case you keep believing all the here say about the rich paying less taxes -

The federal tax take from this club is $41 billion, or a fourth of their $164 billion in income. That 25% rate is almost double the rate for the average American paying at least some federal income tax.

And when it comes to charity,

There’s a big range, too, in charitable impulses.  The big givers live in Medina, Longboat Key and the horse country around Charlottesville, Va. Wealthy families in these three places put aside 5% or more of their income for philanthropy.

Hats off to Fisher Island for keeping their reputation intact through the years, even in the midst of such a crazy and fluctuating economy.

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