• Is it the one that will tell you what you want to hear?
• Is it the one that will list your house at the highest price?
• Is it the one that works for the biggest brokerage?

If you are like most people, you will talk to a couple of Realtors to get an idea of pricing and see how the market is doing.  You may have an idea of what your house is worth and hope your number is close to reality.  You may even have a grasp of reality but know your house is superior and NEED to sell for more than the market dictates.  Even if you don’t know it, you establish a selling strategy before you even interview a Realtor – you set goals in your head of what you want to happen and have pre-conceived ideas on how to achieve those goals.

When the time comes to interview different Realtors, you will end up hiring the one that comes closer to your predetermined plan.  This may be a good thing if your plan comes close to reality and what’s happening in your local real estate market – but what if you are really off?

So let me ask you a question from a Realtor’s perspective.  Wouldn’t it be easy for me, as a Miami and Miami Beach Realtor, to tell you what you want to hear in order to get the listing?  It would look great in my long register of listings, even if the house doesn’t sell – it’s a numbers game, so the more listings I have, the better the chance I have of selling and making money.

Why can’t you realize that overpricing your house will not benefit you!!

Many agents out there will list it at whatever price you want – it’s simple (and one of the reasons the Real Estate Industry has such a bad reputation).  Here’s another scenario: you may think, let’s list high now and we’ll see if the market responds and then we will lower the price. …but you wait, and wait and wait.  You don’t lower the price and then blame the agent for not doing their job.

I just want you to be realistic here.  Please think strategy before you even list your home.  Please take a deep look into your pre-conceived ideas of what is to happen, and hire a Realtor because they will get the job done right.  Take a look at their reputation, at their ability to market the property not only locally but nationally and abroad.  Take a look at how they will make your property stand out from other listings,  how they will communicate and how available they are.

Then make an educated and rational decision of who’s the best man for the job.  And if you decide not to hire the best one for the job, at least know why you did it.

I’ll leave you with a great article written by a colleague in Tucson:  The Effect of Great Marketing – And Good Pricing

The intent here was to make you think – Please know that our team will always tell it like it is – no fluff, just plain truth.  Keep in mind that if you are looking for fluff, we may not be the perfect Miami Beach Realtor for you.

*original article from July 2010

There are currently 13 Bay Harbor Island Homes for sale: (2 more than last month)

• Highest priced listings is for $5,750,000 (9800 W Broadview Dr) **pictured above
• Lowest priced listing is $ 685,000 (1260 96 St – lowered from $749,000)
• Pending Sales (properties under contract): 1 (2 less than last month)
• Closed sales in March: 0 (compared to 1 last month)

No Bay Harbor Island Home sales for the month of March but this is how this  market has been behaving.  Remember there is not much inventory and the area is small.  There have been only 4 home sales in 2013 in Bay Harbor Islands and they have all been under the $2 Million range – curious to see how the big-ticket inventory will move.  Out of the 13 Bay Harbor Island Homes listed for sale right now, 8 of them are above $2 Million and 3 above $4 Million.  Only time will tell how these luxury homes will compare to the rest of Miami Beach.

There were 9 Bay Harbor Island Homes sold in 2012 with a median sales price of $1,125,000 and average price per square foot of  $366. Bay Harbor Island’s sales have been slow and in-between, but it only strengthens the fact that the area is desirable and little for sale inventory is always good.

Click here to search for Bay Harbor Islands homes for sale

Thank you Curbed Miami for giving us the scoop on Matt Damon and his Miami Beach home being for sale.  I have to admit that I don’t have many crushes on actors, but there’s something about Matt Damon – he won me over with his “Good Will Hunting” performance and I would probably be star struck if I saw him (GASP).  So enough about Matt and let’s talk real estate.

This North Bay Road home boasts almost 13,000 sf of living space with 7 bedrooms and 9.5 bathrooms.  It has 170′ of open bay water frontage and sits on a 43,690 sf lot.  It was built in 1935 and obviously remodeled (DUH) and although it has a nice charming 30′s feel to it, it also feels modern.

It is modestly priced at $20 Million and could have Chris Bosh as a neighbor close by …and not to mention “Matt Damon appeal.”

Here are some exterior shots:

The marketing description reads (let me know if you need translating):

Your own private retreat in the heart of Miami Beach awaits you on prestigious upper N Bay Rd. Situated on a rare double lot w/170′ of water frontage, Maravilla boasts breathtaking, unobstructed views of Biscayne Bay & beyond. The pool house w/full summer kitchen allows for easy entertaining & a rooftop terrace provides panoramic views of the entire property. The 2-stry main house features a theatre rm, wine cellar, custom ofc, oversized living rm overlooking the water, gourmet kitchen. 2BR/2BA guest hse.

And finally, the interior:

If you are interested in this house or any other Miami Beach home, please email us at mattdamonmb@miamism.com.  No curious onlookers please, just real buyers…and don’t get offended if we ask for proof.

**property information courtesy of South East Florida Multiple Listing Service**

There are currently  67  Fisher Island Condos for sale: (5 less than last month)

• Highest priced listing: $15,000,000 for an exclusive Oceanside 7/7/1
• Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
• Pending Sales: 14 (4 more than last month)
• Closed sales in March: 4 (3 more than last month)

The Fisher Island Condos sold in March were the following:

• 5383 Fisher Island Dr – Bayview at Fisher Island Condo listed for $6.4 Million and selling for $6.4 Million
• 5123  Fisher Island Dr – Bayview foreclosure listed for $1,996,900  and selling for $2,255,000.
• 7735 Fisher Island Dr – Oceanside  short sale listed for $1,950,000 and selling for $1,593,000
• 2415 Fisher Island Dr – Bayside Village condo listed for $1,200,000 and selling for $1,100,000

Inventory continues to decrease for Fisher Island Condos and we are seeing more sales.  The median listing price in Fisher Island right now is $2.95 Million and  there is only 1 distressed property for sale which is the short sale at 40303 Fisher Island Dr for $330,000 (Marina Village Gardens).  Fisher Island continues to be the epitome of luxury living with unparalleled privacy and exclusivity.

Click here to search for Fisher Island homes for sale

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

So which one is it? Who do you believe and what does your gut tell you?

The truth is that fast growth is always scary, especially right after one of the most horrible real estate crashes in history. But there are some facts that can’t be ignored and that has to do with Foreign Nationals trusting and buying into our market.  South Americans are rushing to buy in Miami because let’s face it, many see a brighter future here and the return on their investment is secure.

Secondly, Miami is a vacation destination that as Richard Florida, founder of The Creative Class Group, mentions, is “different” than other second-home destinations.

Miami is not just a resort destination, but a global economic spike. The flip side of globalization has been the transformation of a small number of global cities — London, New York, and Hong Kong, for example — into locational hubs for what Chrystia Freeland has dubbed “the global super-elite.” Miami fills an intriguing niche in the global economy, which combines elements of a global economic and financial center and an international resort and second-home destination, with all the growth and unevenness that comes with it.

Miami has become a “go-to” destination with arts and culture (ART BASEL leading that effort), with renowned architects changing our city’s skyline (Herzog and De Meuron, Zaha Hadid,Frank Gehry), not to forget a hub for celebrities, and all of that topped with perfect weather,gorgeous beaches and global connectivity which makes it easy to travel in and out of.

Of course as real estate professionals, we want to make you believe that there is no bubble and there will not be another crash, but not even the most in-tune economists can predict that.  The question remains whether or not foreign national investments will be enough to keep our hot market afloat and whether or not the diversity in economic backgrounds will ever start converging in our magnificent city.

I was glad to hear that our colleague, Peter Zalewski agrees with us:

It is impossible to argue decisively for or against the hypothesis of no more real estate boom-and-bust cycles for South Florida given that data necessary to prove or disprove the hypothesis will not be available for several decades.

As your Miami Beach REALTORS we will always make you scrutinize your own personal real estate goals and will give you direct, honest and realistic information.  Just because the highest condo sale of $34 Million was just recorded in Miami Beach may not at all be relevant to your own objectives.

I graduated with a bachelor’s degree in architecture from the University of Miami, and hence all the Hurricane stuff you see me with.  I worked with a couple of big firms both locally and abroad and then started my own architecture firm doing additions and remodelings in Miami Shores and Miami Beach as well as other neighboring cities.  I did several projects, including the design of the Brockway Memorial Library addition in Miami Shores, and always helped friends visualize the potential of homes before buying them.

That’s when the vision of our business was born.  If so many of our own friends had benefited from my architectural consulting services prior to purchasing a home, wouldn’t it be ideal if I had a Real Estate License and offer those same services to potential customers? (the answer was a really LOUD YES!!!)

As a Miami Beach home buyer, when working with me, you will gain from having free architectural consulting at your fingertips.  Finding the “perfect home” is no easy task, properties will need some work and some changes most of the time.  Whether it is to open a kitchen out to a family room or to “formalize” a dining room, or to add a master suite to a property,   as our customer you will benefit from me sitting down with you to help identify your needs. I usually sketch out numerous schematics and will come up with a conceptual plan.  Having worked in the field and built additions, I will be able to estimate the cost of construction and will then lead you to an architect or design professional that can finalize the plans.

As a Miami Beach home seller, the advantages are endless.  I will ask that you acquire floor plans of your properties (most cities will have floor plans and are easy to order); I will have those floor plans ready to show any prospective buyers.  I will also help you identify any weaknesses in the current design of your property and will accentuate all the positive features.

I will help you stage your property with a very detailed list of suggestions that is customized to you and your particular property.  I will even help you hire the right construction professionals to prepare your home for showings (like floor refinishers, carpenters, painters, etc.).  A lot of our customers are absentee owners and we take care of the coordination of these jobs for them.

Having a passion for architecture and for helping people visualize the potential of a property is what makes my job so much fun.  Our customers will tell you how I light up when I see a good space (they will also tell you what my reaction is when I visit “butchered homes”), how I will go out of my way to make their dream a reality within their financial parameters.  I am an architect by profession, but a Realtor by trade, the combination of these is what we offer to our customers in unmatched service.

• Highest priced listings is for $4,700,000 (9530 W Broadview Dr)
• Lowest priced listing is $720,000 (1260 96 St)
• Pending Sales (properties under contract): 3 (2 more than last month)
• Closed sales in February: 1 (same as last month)

The sold Bay Harbor Island home in February was located on the east island (North of Kane Concourse).  This is mainly a multi-family area with condos.  The home was zoned multi-family and according to the MLS description was 2 homes in one corner lot each with 2 bedrooms and 2 bathrooms plus a den.  The property was listed for $975,000 and sold for $900,000.

I can honestly say that although it is listed as a “home” sale, it really is not a real comp for the West Island side of Bay Harbor Islands that only has single-family homes.

There were 9 Bay Harbor Island Homes sold in 2012 with a median sales price of $1,125,000 and average price per square foot of  $366. Bay Harbor Island’s sales have been slow and in-between, but it only strengthens the fact that the area is desirable and little for sale inventory is always good.

Click here to search for Bay Harbor Islands homes for sale

There are currently 72 Fisher Island Condos for sale: (9 less than last month)

• Highest priced listing: $15,000,000 for an exclusive Oceanside 7/7/1
• Lowest priced listing: $170,000 for a 1 bedroom / 1 bathroom at Marina Village
• Pending Sales: 10 (3 more than last month)
• Closed sales in February: 1 (same as last month)

The Fisher Island Condo sold in February was a 2 bedroom / 2.5 bathroom residence at Bayside Village that was listed for $1,195,000 and sold for $935,000. It was a garden unit at 2112  Fisher Island Dr. and included  Club Membership which is $250,000!

Out of the 72 Fisher Island condos for sale, only 3 are distressed, so that inventory is almost done.  The median listing price at Fisher Island is $2,750,000 – so much for an area that according to a lot of the media, is not doing well.  Fisher Island’s exclusivity is still ranked amongst the best in the U.S. and some consider it priceless.

Click here to search for Fisher Island homes for sale

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

One Ocean is the latest and greatest development in the South of Fifth area of South Beach that everyone is talking about.  It’s another Jorge Perez/Related Group development but this time no stone has been left unturned.  What I mean by this is that this project has all the bells and whistles – from amazing architecture, interior design, amenities and landscape architecture.  What it’s missing it’s the fact that it is not an ocean front property, but close enough.  It’s being compared to Ocean House because of its boutique quality, scale and exclusivity ….but you do have to cross the street to get to the beach.

The architect for One Ocean is award-winning Enrique Norten, from Mexico City, and his firm, TEN Arquitectos.  The landscape architect is Enzo Enea, one of the leading landscape architectural firms in Switzerland and widely known for challenging private projects.  Interior Design by Yabu Pushelberg known for high-end hospitality work.  And lastly, featured artists like Cuban born Jose Bedia, Michele Oka Doner, and Eugenio & Lautaro Cuttica from Buenos Aires.

The concept of One Ocean is “The Opportunity to own a masterpiece unlike any other.”

There are only 50 residences at One Ocean, with ocean views and private beach club amongst other things.  46 of these will be exclusive residences and 4 ocean villas featuring unique architectural design by Enrique Norten.  There is very little inventory left including:

• PH 702 with east and west views – 3 bedrooms / 3.5 bathrooms with 2125 sf of living space + 255 sf terrace + 1,724 sf roof top with spa priced at $5,106,000.
• 307 – 5 bedrooms / 5.5 bathrooms – east, north and west views with 3,206 sf of living space + 624 sf wrap around terrace priced at $4.95 Million.
• 308 - 5 bedrooms / 5.5 bathrooms – east, north and west views with 3,206 sf of living space + 624 sf wrap around terrace priced at $5.062 Million.
• 207 – 4 bedrooms plus den / 4.5 bathrooms – east, south and west views with 3120 sf of living space + 2,532 sf wrap around terrace priced at $4.95 Million.
• 208 – 4 bedrooms plus den / 4.5 bathrooms – east, north and west views with 2,826 sf of living space + 1,792 sf wrap around terrace priced at $4,648,900.

The Payment structure is as follows:

• 20% at contract
• 20% at ground breaking (Fall 2013)
• 10% at top off (Fall 2014)
• 50% at closing (End of 2015)

Ocean One Amenities

• Forty-six exclusive residences and four ocean villas featuring unique architectural design by Enrique Norte
• Professionally curated contemporary art collection throughout common areas
• Striking ocean views of the Atlantic Ocean, Biscayne Bay, Fisher Island, South Pointe Park and city skyline
• Park and outdoor areas with ornamental features by artist Jose Bedia
• Zen garden, park & pool deck designed by Enzo Enea
• Infinity Edge pool
• Covered outside private clubhouse complete with food service
• Selected residences and penthouses with private rooftop terraces, spas and two-car garages
• State of the art fitness facilities with views of courtyard garden
• Integrated high-speed Internet throughout common areas
• Floor-to-ceiling energy-efficient windows
• Individual unit access high-speed elevators
• Grand porte-cochere entrance
• Assigned covered parking with 24-hour valet
• Butler

Ocean One Services

• 24 hours a day, 7 days a week, worldwide private and elite concierge service accessible directly from resident’s iPads ®
• Exclusive preferential access to dining, cultural events and travel
• Poolside dining from exclusive neighborhood restaurants
• Dedicated beach club with resort and beachside entrances, custom lounge daybeds, cabanas, umbrellas and elite amenities including oceanfront dining
• Fitness concierge managing spa appointments and treatments, personal training sessions and classes
• Chauffeured car service
• Personal shopping and delivery
• Salon & barber
• Pre-approved housekeeping staff
• Laundry and dry cleaning
• Tailoring
• VIP Access to hotel services, area restaurants and club privileges
• Catering services and event planning for functions
• Supervised childcare
• Personal security
• Pet walking and sitting
• Business center
• Messenger service
• Technical support services
• Car wash and detail services

Remember our team is ready to help you with your One Ocean Condo Purchase or sale and of course surrounding condos as well. Call us for details, brochure and/or floor plans 305.758.2323 or oneocean@miamism.com

Did you even know that The Mondrian has condos for sale?  The Morgans Hotel Group, responsible for The Delano and The Shoreclub in South Beach, decided there was a need for short term rentals as well as a Condo-Hotel in South Beach, and instead of referring out the business, they would keep it in-house.  Of course their reputable concierge service and celebrated design would remain, that’s how the Mondrian concept materialized.  The Mondrian has a marina, meeting rooms and sits on the bay side in South Beach at 1100 West Ave with spectacular panoramic views of the Miami Beach islands, Monument Island, The Port of Miami and The Miami skyline.  The interiors were done by Marcel Wanders, known for his theatrical use of space.  Some people may find the place to be “OUT THERE”, meaning it’s a bit weird and overdone, but the truth is that The Mondrian takes you away to a fantasy world that fits South Beach so well and becomes the perfect getaway.

Here’s the marketing pitch for The Mondrian Condo Hotel:

FULL CONDOMINIUM OWNERSHIP WITH HOTEL SERVICES BUILT AROUND YOUR LIFESTYLE.  Owners enjoy all the privileges of this exclusive Hotel, 5 Star Asia de Cuba dining, Sunset Bar, 2 swimming pools, fitness center, Agua Spa, 24-hour room service, maid service, marina and full access to Delano Hotel Beach Club.  Interiors feature glamorous living areas, spacious bedrooms, modern bathrooms, fully furnished and designed by Dutch designer Marcel Wanders.  Enjoy breathtaking views of Biscayne Bay from your private balcony.

Once you enter and go through the Sleeping-Beauty-castle-type interiors, you’ll find the suites and apartments to be whimsical and unconventional with amazing views and backdrop of Biscayne Bay and South Beach.  We visited one of the Tower Suites and took some photos.

This Tower Suite is offered at $2,950,000 with a $1,759.45/month maintenance fee which includes all amenities, cable, water, electric, WiFi).

Features include:

• Unique residence – one of only 4 total units
• 2 bedrooms / 2.5 bathrooms
• 1,680 square feet of living space
• 791 square foot terrace/balcony
• Wine Cooler, Washer/Dryer, Flat screen TVs in every room
• Access to exclusive Tower Suite Lounge
• Complimentary valet

We also visited a 2-bedroom (1,190 square feet with bay views at $900,000);  a 1-bedroom (740 square feet with city views in the $500k’s); and studio unit (534 square feet with bay views starting in the high $200k’s) to get a feel of size and views.  The interiors are all very similar and very Marcel Wanders, and the kitchens are small (as can be expected from a condo-hotel).

The consensus is that the prices are still high.  The project was opened during Art Basel in December of 2006 and was 80% sold, but like the rest of the projects in Miami, only closed the cash buyers and now have 140 units available.  Pricing has gone from the $1000′s per square foot to the $600′s – studio apartments start in the $290,000 range and 2-bedroom apartments in the $900,000 range.  The Hotel program is optional and buyers can of rent their residences on their own.   The sales team did disclose that they are renting at an average of $4.70 per square foot and their studios rent for approximately $2,500/month for a six month rental period.  They also claim that the rental demand is higher than the supply.  (This is enough to merit the high prices, knowing you will have your unit rented and can benefit from rental income).

There’s currently financing available by the developer, which is not easy with condo hotels.  They have a 5 year balloon for Domestic clients as well as foreign nationals.  They require 40% down for foreign nationals with a 7.5% APR and 3 credit reference letters and 80% down for domestic clients with APR from 7% to 8.75% (1.5 points and 30 day closings – Full Doc but no dept-to-income ratios which is good for multiple property owners).  I shouldn’t even comment on price gouging anymore because it’s sometimes so difficult to obtain financing and the risk is so high for lenders…..that they can ask whatever they want.

An interesting and exclusive amenity is the future use of Monument Island for a private beach club.  The Mondrian was instrumental in the restoration of the island and will now have rights to its use by it’s residents and hotel clients.  Residents also get 10% off spa treatments, they have 1 parking space with complimentary valet parking and a private entrance if you want to avoid the busy lobby.  All in all, it’s an interesting project with a creative solution to the short term rental need in South Beach… AND …”everything is very negotiable” according to the sales staff <<< ya think?

Remember our team is ready to help you with your Mondrian South Beach Condo Purchase or sale and of course surrounding condos as well. Call us for details 305.758.2323 or mondrian@miamism.com

*original article april 24th, 2010