Fisher Island Condos – Real Estate Market Report – July 2011
August 5, 2011
There are currently 112 Fisher Island Condos for sale: (2 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: 2 (6 less than last month)
- Closed sales in July: 3 (6 less than last month)
The 3 Fisher Island Condos sold in July were the following:
- Oceanside at Fisher Island – 7734 Fisher Island Dr – listed for $8,900,000 and selling for $7,250,000
- Oceanside at Fisher Island – 7232 Fisher Island Dr – listed for $3,900,000 and selling for $3,900,000
- Oceanside at Fisher Island – 7251 Fisher Island Dr – listed for $2,490,000 and selling for $2,501,000
Glad to see movement pick up in Fisher Island, especially at Oceanside. With a mega sale over $7 Million, this puts Fisher Island back on the map! Doesn’t surprise me, since it’s the perfect vacation spot for those that seek privacy.
**all information obtained from the Southeast Florida Multiple Listing Service**
Fisher Island Condos: Real Estate Market Report – June 2011
July 12, 2011
There are currently 112 Fisher Island Condos for sale: (2 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: 2 (6 less than last month)
- Closed sales in June : 9 (8 more than last month)
The 9 Fisher Island Condos sold in June were the following:
- Bay View at Fisher Island – 5161 Fisher Island Dr – listed for $6,900,000 and selling for $5,287,500
- Oceanside at Fisher Island – 7611 Fisher Island Dr – listed for $6,750,000 and selling for $5,500,000
- Oceanside at Fisher island – 7925 Fisher Island Dr – listed for $3,000,000 and selling for $2,700,000
- Bayview at Fisher island – 5132 Fisher Island Dr – listed for $2,800,000 and selling for $2,500,000
- Oceanside at Fisher Island – 7936 Fisher Island Dr – listed for $1,950,000 and selling for $1,950,000
- Seaside Condo – 19226 Fisher Island Dr – listed for $1,825,000 and selling for $1,630,000
- Bayview at Fisher Island – 5143 Fisher Island Dr – foreclosure listed for $1,734,000 and selling for $1,650,000
- Bayside Village – 2134 Fisher Island Dr – listed for $1,495,000 and selling for $1,350,000
- Bayside Village – 2421 Fisher Island Dr – listed for $1,300,000 and selling for $900,000
- was located in Oceanside at Fisher Island (unit 7938). It was originally listed in May of 2010 for $3,3 Million and lowered to $2.9 Million in June of 2010 and then again to $2.499 Million in November – finally closing on May 18th, 2011 for $2 Million. The sellers had bought this residence in August of 2001 for $1.725 Million.
Talk about a drastic change in sales in Fisher Island in the month of June. From one single sale, to 9 and with 3 being above the $2.5 Million mark. Oceanside and Bayview tore the sales stats for last month in Fisher with the most sales in these 2 buildings.
**all information obtained from the Southeast Florida Multiple Listing Service**
Google your Miami Beach REALTOR
June 28, 2011
Dear Miami Beach home Seller:
Do you realize that today’s real estate buyer is smart? is educated? and will research your property to death before they even place an offer?
Most of you are even aware that almost 90% of buyers start their search on the Internet, so what do you have to do to sell your home?
If you are planning to sell, you have to be just as smart as those buyers and you need to do a little homework. Your research should start with Google.
Google the area you live in to see which agents have a strong Internet presence. Those agents that have a strong presence will know how to market your property on-line and will know how to expose your listing to millions of buyers.
Example: You want to sell you Miami Shores Home – you should Google “Miami Shores Real Estate”, “Miami Shores”, “Miami Shores Homes” and any other combination thereof. Take a look at the first 2 (maybe even 3) pages of Google Searches and find out what each one of those Realtors is doing to market their listings.
It’s not about your Realtor having a website anymore, it’s about your Realtor knowing where to place your listing, exposing your property in not only local web-portals, but all over the world.
If you are not finding your favorite agent in Google, or the properties they are selling, it may be time to re-examine your “selling strategy”.
Please remember that although this is a very important part of the equation, once you find that “Googable Realtor” (no that’s not a real word), you should also follow home preparation and pricing recommendations.
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Why isn’t your Miami home selling?
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Pricing your Miami Home
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How to Sell Your Home in Black and White
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Home Sellers Can’t Handle The Truth
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First Impressions in Real Estate
**originally published June 25th, 2008**
Fisher Island Condos: Real Estate Market Report – May 2011
June 3, 2011
There are currently 114 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: $134,500 for a studio at Marina Village Gardens (short sale) << in heart of commercial sector (perfect for crew or visitors)
- Pending Sales: 8 (3 more than last month)
- Closed sales in May : 1 (1 less than last month)
The Fisher Island Condo sold in May was located in Oceanside at Fisher Island (unit 7938). It was originally listed in May of 2010 for $3,3 Million and lowered to $2.9 Million in June of 2010 and then again to $2.499 Million in November – finally closing on May 18th, 2011 for $2 Million. The sellers had bought this residence in August of 2001 for $1.725 Million.
Distressed Fisher Island inventory keeps decreasing as the months go by, now showing 10%, as opposed to April’s 13%. Fisher Island remains a “go to” destination for 2nd home owners and locals who are looking for a getaway! Just a ferry-ride away and you will be in an exclusive resort-like setting that is unparalleled anywhere in South Florida.
**all information obtained from the Southeast Florida Multiple Listing Service**
Fisher Island Condos: Real Estate Market Report – April 2011
April 30, 2011
There are currently 120 Fisher Island Condos for sale: (3 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: $134,500 for a studio at Marina Village Gardens (short sale)
- Pending Sales: 5 (2 more than last month)
- Closed sales in April : 2 (same as last month)
The 2 Fisher Island Condos sold in April were the following:
- Oceanside Fisher Island– 8022 Fisher Island Dr – listed for $2,200,000 and selling for $1,999,000
- Bayside Village – 2021 Fisher Island Dr #2021– listed for $1,195,000 and selling for $900,000
13% of the current Fisher Island Condo inventory is distressed (short sales and foreclosures). Although this number may be low for the common Miami and Miami Beach neighborhood, it’s unheard of for Fisher Island, one of the nation’s most expensive zip codes according to Forbes.com in years past. This is great for second home owners that love fisher island for the amenities, but only need a small pie-a-terre for occasional weekends, but not so great for residents who just want normalcy on the island.
**all information obtained from the SouthEast Florida Multiple Listing Service**
Fisher Island Condos: Real Estate Market Report – March 2011
April 5, 2011
There are currently 117 Fisher Island Condos for sale: (same as last month)
- Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
- Lowest priced listing: $180,000 for a one bedroom at Marina Village No2 (short sale)
- Pending Sales: 3 (2 less than last month)
- Closed sales in March : 2 (same as last month)
The 2 Fisher Island Condos sold in March were the following:
- Oceanside Fisher Island– 7755 Fisher Island Dr – listed for $3,900,000 and selling for $3,100,000
- Bayside Village – 2212 Fisher Island Dr #3102– listed for $988,000 and selling for $840,000
Fisher Island Condos are moving very slowly, but the good news is that only 9% of the inventory is distressed!! This should be quite a relief not only for the residents and vacation owners of Fisher Island condos, but also to the The Fisher Island Hotel that was starting to get a bad rap for its hotel program because there was distressed inventory in the island!! Soon enough that will be old news and Fisher Island will start getting its great reputation back.
**all information obtained from the SouthEast Florida Multiple Listing Service**
Fisher Island Condos: Real Estate Market Report – February 2011
March 1, 2011
There are currently 117 Fisher Island Condos for sale: (10 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: $180,000 for a one bedroom at Marina Village No2 (short sale)
- Pending Sales: 5 (2 more than last month)
- Closed sales in February : 2 (2 less than last month)
The 2 Fisher Island Condos sold in February were the following:
- 7400 Oceanside– 7464 Fisher Island Dr – listed for $2,990,000 and selling for $3,025,000
- Bayside Village – 2312 Fisher Island Dr #4102– listed for $785,000 and selling for $705,000
Fisher Island Condo sales have been slow and with huge disparities – with multi-million dollar properties as well as lower end properties selling. Yes, there are lower end condos inside Fisher Island, but that’s only price….the lifestyle is still there and it remains exclusive and very desirable. The lower price sales represent second and third homes for the purpose of vacation destinations.
**all information obtained from the SouthEast Florida Multiple Listing Service**
Why pick THAT Miami Beach Realtor?
February 15, 2011
You are interviewing Miami Beach REALTORS and have no idea who to hire because they all have something that impresses you, good track record, good communication skills, good client testimonials, good Internet presence…..so how can you make up your mind?
The key is to be able to identify how they market themselves as opposed to how they market properties. At first this may seem like easy task, but once you start thinking about it you realize that most REALTORS spend more money branding themselves that promoting their properties. Not that there’s anything wrong with that, it’s only wrong when they want to sell you their branding efforts as property marketing.
In addition to identifying the type of marketing an agent does, it’s good to know where marketing efforts need to be more aggressive and where buyers will ultimately find your home. The National Association of Realtors (NAR) just published a 2010 profile of home buyers and sellers which includes this graph that details where buyers found the home they purchased from 2001 through 2010.
Interestingly enough, in 2010, 75% of buyers bound their home with the help of another REALTOR or on-line! (and the Internet is half of that number). Which just means that yard signs, open houses, newspaper and magazine ads and brochures are a minuscule part of the equation! Seriously?? But those property brochures are so pretty!! And what have we been telling you? The brochures are part of an agent’s branding efforts, it gets them more listings….not necessarily sell homes.
Brand Marketing vs. Product Marketing
A good REALTOR will use both types of marketing not only to attract more clients but to ultimately sell real estate. Furthermore, Brand and Product will often be combined because in real estate, you really can’t separate one from the other. A good example of this will be direct mailers with “just listed” information – the property will be shown and described and the agent brand will be emphasized – but do you see these in the list above? Yet one overly used home selling pitch is that “neighbors will tell friends and family about the home, which is the best type of word-of-mouth marketing” << can you say “MEANINGLESS SCRIPT”?
Tracey Drake from Suite101.com gives us a great analogy to differentiate the two:
- Ford telling consumers that “Quality is Job 1″ – this is Brand Marketing
- Selling that consumer a Ford Mustang – this is Product Marketing
So what am I telling you here? In a customer service driven society, how can we not know when we are buying something for the brand, not necessarily the quality? How can we not realize that the pretty magazine ad will not sell our home? or the ingenious TV ad or the catchy yard sign?
So sit down with your Miami Beach Realtor and ask how they are using The Internet to reach the end buyer, what will they do differently to make your home stand out from the thousands of properties on the web and how is their business relationship with other Realtors since ultimately it will be their competition who will bring your home’s buyer.
For additional marketing insights, read Seth Godin’s What do you know? - a great list that manages to separate egos from achievers with some of my favorite points:
- Anticipated, personal and relevant advertising always does better than unsolicited junk.
- You can’t fool all the people, not even most of the time. And people, once unfooled, talk about the experience.
- Traditional ways of interrupting consumers (TV ads, trade show booths, junk mail) are losing their cost-effectiveness. At the same time, new ways of spreading ideas (blogs, permission-based RSS information, consumer fan clubs) are quickly proving how well they work.
- Good marketers tell a story.
- Living and breathing an authentic story is the best way to survive in an conversation-rich world.
- In the googleworld, the best in the world wins more often, and wins more.
Fisher Island Condos: Real Estate Market Report – January 2011
February 7, 2011
There are currently 127 Fisher Island Condos for sale: (4 more than the end of 2010)
- Highest priced listing: $30,000,000 for an exclusive Oceanside 5/5.5 home with artwork and all!
- Lowest priced listing: $139,000 for a studio at Marina Village (short sale)
- Pending Sales: 3
- Closed sales in January : 4
The 4 Fisher Island Condos sold in January were the following:
- Seaside Villas – 15312 Fisher Island Dr – listed for $3,700,000 and selling for $2,400,000
- Bayview Fisher Island – 5233 Fisher Island Dr – listed for $2,300,000 and selling for $1,750,000
- Bayview Fisher Island No 2 – 5335 Fisher Island Dr – listed for $1,500,000 and selling for $1,500,000
Fisher Island is as popular as ever and people come from all over the world to stay in the hotel and enjoy the unparalleled Fisher Island Lifestyle. Not that we need proof, but it made Businessweek’s Top 50 Small Towns in America.
**all information obtained from the SouthEast Florida Multiple Listing Service**
Fisher Island makes Businessweek’s “America’s 50 Most Expensive Small Towns 2011″
January 23, 2011
Of course we are not surprised that Fisher Island would make another “American Most Expensive Towns” list, but this time it is in Bloomberg Businessweek. Vanessa Wong begins by telling us what we already know,
Rich people may like to travel, but like everyone else they want to keep their daily commute as short as possible. So when it comes to buying a home, they want to be close to work, and because they’re rich they can pretty much be where they like. But they also like safe neighborhoods, good schools, pretty views, and, if possible, access to beaches and country clubs.
But most importantly, it mentions that values dropped in 33 of the 50 towns with the biggest decline coming from Woodside, California at 15.7%. Jupiter, Florida, also made the list with values dropping 11.3% from a year ago to just over $2.8 million.
Businessweek also reiterates what we’ve been telling you here in Miamism, that there have been fewer high-end sales (and this is evidenced nationwide, not just in Miami).
What makes small towns such as Sagaponack attractive is their proximity not just to natural beauty and first-class golf courses but also to other wealthy people. That’s why the most expensive small towns often cluster around major financial centers.
Agents across the country reported the following:
“Across the board, everyone brought their homes down 15 percent to 20 percent. Sellers are becoming more realistic”
- Hamptons
“Our really high-end market is almost frozen,”
- Cape Cod
Other Florida towns that made the list were Gulf Stream at 49 and Jupiter at number 2
According to Businessweek’s numbers, Fisher Island ranks number 11 in America’s 50 Most Expensive Small Towns in 2011 (from number 10 last year), has a Median home value of $1,766,928 and a population of 467.
Fisher Island in Miami-Dade County is one of the country’s wealthiest areas, with median household income exceeding $250,000, according to Census Bureau data. As no road connects to this exclusive island, it is accessible only by private boat or ferry. Once owned by William Kissam Vanderbilt II, it is known for being a private getaway for celebrities, and homeowners include Julia Roberts, Oprah Winfrey, and Andre Agassi, reports luxist.com.