Not all Miami Beach Waterfront homes are created equal

Miami Beach locals seem to understand that not all Miami Beach waterfront real estate is the same, but instead of assuming, I decided to do a brief synopsis of the different types of waterfront homes in Miami Beach. Many relocating to South Florida think waterfront means “beach-front” – you have no idea how many calls we get from Europeans wanting a beachfront home when they really mean canal-front. It has to do with knowing the local landscape and also language idiosyncrasies – the type of waterfront has obvious implications on the price.

Miami Beach ocean-front homes

There are not many oceanfront Miami Beach homes – it is PRIME real estate! This type of waterfront real estate is the most exclusive and most expensive for obvious reasons (nothing like the Atlantic Ocean as your backyard)- A few beachfront homes can be found in a very small residential pocket South of Surfside called Altos del Mar and also Golden Beach – where the oceanfront homes will be everything but modest- talk about Miami Beach Luxury Real Estate! Otherwise, all other beach-front or ocean-front real estate will be condos.

Miami Beach Bay-front homes

The next best thing from beachfront is bay-front since you will have open bay views and more privacy (literally no rear neighbor and open bay views from your backyard). Miami Beach Bay-front homes are also not all created equal. The only down side is the lack of protection from the elements, but that’s what insurance, good construction and proper weather preventive methods are for.

Miami Beach Canal front homes

There are many types of canal-front homes in Miami Beach. Pricing of these will take into consideration many factors including: location of canal, type of canal, size of canal, location of home within the canal, etc.

• Wide canals

This is when the home is located on a canal but the the canal is wide and homes still have privacy – examples of these are homes on the South side of Hibiscus Island or North side of Palm Island, The Venetian Islands or Surprise Lake in Miami Beach.

• Narrow canals

The word says it – you can see your neighbor across the canal, privacy is limited since you usually would have a fence and landscaping separating a backyard neighbor – in this case, you would have the canal and in many instances could see right in their backyard or home. This does not mean that canal-front homes are bad by any means, it just explains that there are many considerations when buying waterfront properties.  Other factors to consider with regards to canal-front properties are:

• navigable – if you have a boat, this is a good question to ask – some canals do not allow boats, others don’t have access to the ocean

• no fixed bridges – canal-front properties with direct ocean access and no fixed bridges are more expensive.  If you are contemplating buying a property and you know there are fixed bridges and you have a boat, make sure you know what the clearance of those bridges are in high tide to make sure your boat will be able to go through.

• deep canals – many canals are deep and can accommodate sail boats – if you are a sailor and want to purchase a canal-front home, you need to make sure the canal is deep enough for the draft of the boat.

• debris – some canals have dead ends and they have a tendency to collect debris which can often be an eyesore or even worse, bring a horrible smell.

More food for thought:

Location of the property – If you are a boater and hate idling in the no-wake zones for an extended period of time, consider where, within the intricate canal infrastructure of Miami and Miami Beach, the property will be located. Golden Beach and Eastern Shores for example has a long trajectory from their waterfront homes to the open bay and ocean where you can really crank up the engines and go at a descent speed – the same thing happens at Coral Gables. If you are a true boater, it would be a good idea for you to navigate those canals first.

Seawall and Condition – knowing a seawall can cost up to $1000 per linear foot – you should inspect the seawall with a good professional and possibly structural engineer.  Don’t discard Natural Coral Seawalls, they are known to have very strong structural qualities – but don’t take my word for it, ask any Structural Engineer.

Type of dock DERM will allow – looking at the adjacent neighbors’ docks usually gives you a good idea, but don’t always trust that – their dock may be “grandfathered in” or have some special circumstances that you don’t know about. Rule of thumb is that you can usually build a dock out 20% of the width of the canal, bay-fronts all have different requirements. A DERM inspector will sometimes be willing to visit the property prior to you buying the property, to assess it.

If you thought the Miami Beach Waterfront real estate market was not intricate, think again!

*original article posted February 28th, 2009*

2009 Miami Beach Home Sales for Indian Creek

Indian Creek, even with only 2 sales in 2009, defeats Miami Beach Luxury Real Estate statistics with sales above the $5,000,000 range, with always controlled inventory and with an average price per square foot according to those 2 sales of $1,408.  It’s exclusivity is unmatched and private 24-hour boat patrol around the island should make any resident feel like they are living in a castle surrounded by an alligator infested mote (ok, ok…maybe a bit far-fetched, but don’t discount the huge lots and easy proximity to the ocean with only one bridge).

22 Indian Creek Drive – Indian Creek, FL 33154

Estate Sale (and fixer upper, if I may add) – built in 1958 with 200 feet of water frontage  and “Regency Style Residence”, according to listing agent.  Had been listed since March of 2009 with a starting price of $12,900,000.  (selling date December 10, 2009)

34 Indian Creek Drive – Indian Creek, FL 33154

Smaller home compared to neighboring Indian Creek Mansions with under 4,000 square feet of living space but with 221 of water frontage and sitting on mammoth 80,000 square foot lot.  The house was built in 1965 and described by listing agent as:

Nestled  within this park like property is a charming, original Old Florida style home. The house is a “jewel” w/sliding flr to ceiling glass drs allowing the prevailing southeast breezes through the house. On approximately 2 acres of land this property features a heated swimming pool, outdr showers, luscious Florida flora, 2-car garage, new deep water concrete dock & much more. Located in the heart of the city, Indian Creek is a private island w/only 33 houses surrounding an exquisite golf course

This house was not an easy sale because of its proximity to the bridge and views of adjacent Surfside rather than open bay. It was listed on and off since February 2008 with a starting price of $11,900,000 then $15,000,000 and then $9,700,000 – I’m guessing the owners were not too happy to let it go for $6 million

Indian Creek stays above water and current inventory is only 2 active homes:  one for the house at 38 Indian Creek for $14.9 million and the other at 40 Indian Creek for $12.9 million.  I’m thinking the island will keep defeating the odds from the rest of Miami Beach – making Mr. Braman feel good about his decision to stick around.

Blog Action Day at Prime Miami Beach

This year over 9,000 blogs across the world have registered to write about Climate Change because there is power in numbers and together we can make a difference.

So how does Miami Beach Luxury Real Estate relate to Climate Change? easy, think of green products, how real estate is built, what waste is produced, what appliances are used, the “walkable” factor of your real estate to shopping and business. No matter the industry, there is something you can do to help our planet.

I have talked about Green Urbanism because it’s a topic dear to my heart and somehow it seems like Miami is distant from many of the walkable communities concept because of Urban Sprawl. I’ve even talked about Green Designer Finisher for your kitchen, identifying recycled glass counter tops. My favorite is Miami Green Houses from the past where I identify 3 Green Mid-century architects and their masterpieces. And lastly, 5 Green conscious moves for your home (anyone can do these).

Take a look at who else is participating in this year’s Blog Action Day:

• Six Eco Realtors to Watch- Blog Action Day 2009 (Agent Genius)
• Bloggers of all stripes grab a piece of the climate pie for Blog Action Day 2009 (Grist)
• Who’s participating at Blog Action Day

7 things to consider when buying a Miami Waterfront Home

If you are buying a Miami Beach 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 Beach.