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?).

Top 3 Most Expensive Miami Beach Homes sold in July 2011

There were 24 Miami Beach homes sold in July of 2011. The sales ranged in price from $19 million to $205,000 for a short sale in Normandy Island.  July breaks a new record for Miami Beach home sales in the mega luxury category.  With the top 2 sales in Sunset Island I and Palm Island.  We are seeing a lot of Brazilians pay cash for single-family homes (not just condos), as well as Europeans.  Keep in mind that the Summer is our slow real estate season, which means it’s exciting to think of what August and September will bring.

July’s Most Expensive Miami Beach Home Sale

1736 W 28 St – Miami Beach, FL 33140

Listed for $25,000,000 and sold for $19,800,000 July 19th, 2011

Talk about a major record for Miami Beach Homes sold this year, and making The Sunset Islands HOT when it comes to sales.  This Luxury estate has it all:  land, water frontage, historic relevance, location, and gorgeous open bay views!!  From it’s oolitic limestone facade, to 1930′s Neoclassical style and not to mention designed by architect Maurice Fatio.  Fatio was known mostly in Palm Beach but also designed the Indian Creek Country Club (clubhouse).  It’s definitely one of our Miami Beach Mega Luxury sales in a so called “down market”. << yes, that’s sarcasm.  The marketing description reads:

This historically significant waterfront property designed by Maurice Fatio encompasses 70,886 SF of land on which rests approx 11,388 SF Neoclassic home w/ a contemporary interior. The home sits on a tip lot on  Sunset Island I. From there, sweeping views of Biscayne Bay and downtown Miami + colorful sunsets provide a dazzling backdrop to this crown jewel. A large bayside pool blends effortlessly into the well-manicured surroundings of this tropical haven spanning 1.63 acres and 453 feet of waterfront.

Features:

• 11,388 sf of living space
• 7 bedrooms / 7.5 bathrooms
• built in 1938
• architect:  Maurice Fatio
• bay front home with 70,886 sf of land
• 453 feet of water frontage with private dock
• Sunset Island I location
• pool
• 3-car garage

July’s second Most Expensive Miami Beach Home Sale

94 Palm Av – Miami Beach, FL 33139

Listed for $16,000,000 and sold for $14,200,000 on July 26th, 2011

This gorgeous Palm Island estate was originally listed for $23 Million back in November of 2008 and the description does not lie when it talks about form meeting function.  It’s one of those houses you see when driving down McArthur Causeway towards Miami Beach.  The views are of Cruise Ship Alley and has 200 feet of water frontage!  The marketing description reads:

Truly amazing 2 story estate for those looking for perfection. Offered exquisitely (partially) furnished (no artwork or personal items). Lot has 200 feet of water w/magnificent downtown Miami views and parade of ships. Main house has 6brs 7.5 baths, staff quarters, 1br/1ba guest house,plus 3 brs, 2 baths over garage. Pool house has his and hers cabanas and gym. Magnificent pool with mosaic tile. This offering is a combination of both function and form. Simply gorgeous. Inventory list is available.

Features:

• 14,083 sf of living space
• built in 2003
• Main house has 6 bedrooms / 7.5 bathrooms
• staff quarters
• 1 bedroom / 1.5 bathroom guest cottage
• 3 bedrooms / 2 bathrooms over garage
• 200 feet of water frontage – 60,000 sf lot (200′ X 300′ )
• bay frontage
• pool
• private dock with boat lift

July’s Third Most Expensive Miami Beach Home Sale

5941 Pinetree Dr – Miami Beach, FL 33140

Listed for $3,499,000 and sold for $3,062,500 on July 15th, 2011.

This Pinetree beauty has been on the market, on and off, since 2008 with an original listing price of $3,950,000.  Although price range wise it doesn’t compare to the 2 other properties above, this is one of those historically relevant homes that gives you chills and can only be appreciated by someone that knows true Mediterranean Revival architecture.  Although it is in need of rehab or “restoration”, it still has some original 1920′s details.  The marketing description reads:

Absolutely stunning example of famed Russell Pancoast’s work! Meticulously maintained 1929 mediterranean villa upgraded with hurricane impact windows, new roof, new ac units all within the last five years. Coral stone archways and walkways, travertine and wood floors, Pecky cypress and wood beam ceilings, original mosaics throughout the house. If your buyers are looking for artistic beauty, this is it! 3/3.5 in the main house, 2/1 in guest quarters, maid’s room/bath, den, Florida room, 3rd story tower.

Features:

• 4,654 sf of living space
• 6 bedrooms / 5.5 bathrooms
• built in 1929
• Pinetree Drive location
• 14,630 sf lot (77′ X 190′) with 77′ of water frontage
• private dock
• pool

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

Top 3 Most Expensive Miami Beach Homes sold in June 2011

There were 23 Miami Beach homes sold in June of 2011. Sales prices ranging from $170,000 for a bank owned foreclosure in the North Beach area, to $5 million for a Sunset II remodeled home mentioned below.  June’s Miami Beach sales keep showing an improvement in the housing market with 8 of the 23 sales being above $1 million and 7 of those sales being distressed.  We keep seeing sales above the $3 million mark which also means mega luxury Miami Beach homes are moving!

June’s Most Expensive Miami Beach Home Sale

1410 W 25 St – Miami Beach, FL 33140

Listed for $5,499,000 and sold for $5,000,000 on June 7th, 2011

This home was featured in our Miami Beach Housing Report – first half of 2011.  Located on the South East corner of Sunset Island II, completely remodeled, meticulously landscaped and with 100 feet of water frontage.  The house was purchased for $6.5 Million in 2005 and sold at a $1.5 Million loss.  The selling description read:

GREAT MIAMI BEACH WATERFRONT ESTATE WHERE QUIET COLORS CREATE A BOLD IMPACT YET A RELAXED SENSE OF INDULGENCE. BEST DESCRIBED AS THE HOUSE THAT BECOMES YOUR HOME, THIS BEAUTIFULLY REMODELED FIVE BEDROOM, (WITH OPTION TO USE THE STUDY AS A SIXTH BEDROOM) AND SIX AND ONE HALF BATH ISLAND OASIS, EXUDES TRANQUILITY AWASH A SEA OF WIDE-OPEN SPACES, LUSH TROPICAL LANDSCAPING AND 100 FEET OF WATERFRONT FRONTAGE.  A STONE-THROW AWAY FROM THE OPEN BAY!

Features:

• 5,920 sf of living space
• built in 1955 and completely remodeled
• 100′ X 202′ LOT (20,200 sf)
• 5 bedrooms / 6.5 bathrooms
• 100′ of water frontage (no fixed bridges to bay)
• private dock
• heated pool
• Sunset Islands location
• 2-car garage

June’s second Most Expensive Miami Beach Home Sale

1601 W 24 St – Miami Beach, FL 33140

Listed for $4,250,000 and sold for $4,250,000 on June 8th, 2011

Another Sunset Island Home.  This on located on the North side of Sunset Island III, also with no fixed bridges to Biscayne Bay.  Completely renovated by Wallace Tutt on a 25,000+ lot with tennis court.  (I would have imagined Anna Kournikova in this house for sure).  The home was listed in March of 2001 and was under contract in one week!  The selling description reads:

Sunset Island #3 residence, completely and tastefully renovated by Wallace Tutt and featuring a lighted tennis court, separate guest house, pool pavilion. New dock and seawall, split bedroom plan with separate apartment. Quality finishes and lavish touches throughout. All newly installed appliances, electrical and plumbing systems, doors and windows, impact glass and much, much more. Never occupied since recently completed renovation, turn-key in every respect.

Features:

• 7,202 sf of living space
• 144′ X 175′ lot (25,200 sf)
• 5 bedrooms / 5.5 bedrooms
• built in 1937 and completely remodeled
• 144′ of water frontage
• private dock
• heated pool
• 2-car garage
• Sunset Islands location
• turn-key

June’s Third Most Expensive Miami Beach Home Sale

126 W San Marino Dr– Miami Beach, FL 33139

Listed for $3,999,000 and sold for $3,400,000 on June 24th, 2011.

Here’s the perfect example of how Venetian Island Homes are increasing in price like no other island in Miami Beach.  Spacious house with amazing views with tired finishes in need of updating – selling above $700/square foot.  Located on the West side of San Marino Island (South of the Venetian Causeway), with amazing views of The Miami skyline.   This home was listed in February of 2011 and was under contract in less than a month.  The selling description simply reading:

Located on the secluded southwest side of San Marino Island on the Venetian Causeway in Miami, discover this beautiful 2-story home on a manicured 15,750 square foot bayfront lot. The best bay and downtown Miami views. Huge backyard and separate guest apartment with kitchen.

Features:

• 4,472 sf of living space
• 90′ X 175′ lot (15,750 sf)
• built in 1937
• 4 bedrooms / 3 bathrooms
• 2-car garage
• 90′ of water frontage
• Venetian Islands location
• pool
• private dock

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

Miami Beach Luxury Housing Report – first half of 2011

I can’t believe 1/2 of 2011 is already gone!  Fortunately for Miami Beach Realtors, things are improving on a daily basis and we have been busy!  So here is the scoop on what has happened with Miami Beach homes in the first half of the year.  There were 130 Miami Beach homes sold already in 2011 – out of those, 55 were sales over $1 Million which is 42% of all sales….not bad for a “depreciating market”.  You need to keep in mind that when the big honchos like the Case-Shiller Index, come up with their data interpretation, they pull together ALL of Miami-Dade County and the numbers look grim – so the need to go local is crucial to get a real perspective (yes, I sound like a broken record).

Because we do specialize in Miami Beach luxury homes and waterfront homes, I will give you a summary of all the waterfront homes sold this year in Miami Beach and I will break those down by island or desirable location within Miami Beach.  You will see a lot of Mega sales (the ones above $3 Million), which is a change from 2010. (click on the graph above to download PDF of all sales to date).

Star Island Home Sales

There were only 3 Star Island homes sold so far this year ranging from $7.1 million to $25.5 million!  The average price per square foot coming in at $1,028 and the highest for all of Miami Beach.

13 Star Island was listed for $32,000,000 and sold for $25,500,000.  With 8 bedrooms / 8 bathrooms / 2 half-baths, 15,008 square feet of living space on a 100′ X 400′ lot with private dock, pool, boat lift, state of the art electronics ….yada yada yada – (everything you would expect from a 15,000 sf mansion).  What’s amazing is that this house was listed January of 2011 and sold in only 2 months!  (the monthly rental for this gem was $325,000 – higher than the average home in Dade-County!) << that’s why I love Miami.

Hibiscus Island Home Sales

There were 3 Hibiscus Island homes sold this year ranging from $2.4 Million to $9.35 Million.  The average price per square foot for the island coming in at $828.  The highest sale in Hibiscus was my all-time favorite home designed by Oppenheim at 40 South Hibiscus Drive – Miami Beach Luxury Home Pick – Hibiscus Island << click to see the photos - A – MA- ZING!!  and the lucky buyer walked away with this beauty for $9.350 Million.  The house was originally listed for $13,995,000 in June of 2010, was reduced several times and sold in May.

Venetian Islands Home Sales

The Venetian Islands are seeing quite a bit of movement in the past 2 months, and there have been 12 waterfront home sales this year with an average price per square foot of $725 – quite an increase from the average $634/sf in 2010! The highest sale was for unfinished construction at $5.5 Million back in March.

1424 N Venetian Way came in as the 2nd highest Miami Beach home sold in March of 2011.  It was originally listed at $6.5 Million in August of 2009 and finally sold for $5.5.

Sunset Islands Home Sales

The Sunset islands have seen better days with only 2 sales so far this year and average price per square foot of $717 (less than The Venetian Islands which is unheard of!).

1410 W 25 St – sold for $5,000,000 on June 7th, 2011.  Located in Sunset Island 2 – with 5,920 sf and 20,200 sf lot (inside lot, not open bay).  This house was purchased for $6.5 Million in November 2005 and took only 3 weeks to sell when they listed it for $5.499 Million in April of this year.  The Marketing description reading: screaming in all caps:

GREAT MIAMI BEACH WATERFRONT ESTATE WHERE QUIET COLORS CREATE A BOLD IMPACT YET A RELAXED SENSE OF INDULGENCE. BEST DESCRIBED AS THE HOUSE THAT BECOMES YOUR HOME, THIS BEAUTIFULLY REMODELED FIVE BEDROOM, (WITH OPTION TO USE THE STUDY AS A SIXTH BEDROOM) AND SIX AND ONE HALF BATH ISLAND OASIS, EXUDES TRANQUILITY AWASH A SEA OF WIDE-OPEN SPACES, LUSH TROPICAL LANDSCAPING AND 100 FEET OF WATERFRONT FRONTAGE.  A STONE-THROW AWAY FROM THE OPEN BAY!

North Bay Road Home Sales

I’m always curious to analyze how North Bay Road Mansions stand up against the rest of Miami Beach.  There are no private gates, but gorgeous open bay views that take your breath away.  There have been 5 North Bay Road homes sold this year, which are not a real representation of what usually sells and the average price per sq.ft. coming in at $769.  The highest sale was in our Top 3 highest Miami Beach Homes – April edition.

Pinetree Drive Home Sales

Pinetree has only had 2 waterfront home sales this year, with an average price per sq.ft. $621.  The highest Pinetree Drive Home was in our Top 3 Miami Beach Home Sales – March edition.

More Miami Beach Home Sales

In addition to the mentioned sales, there was also one sale in Allison Island for $2.45 Million (fixer upper selling at $491 / square foot), and no waterfront sales yet in La Gorce Island, Bal Harbour, Bay Harbor Islands, Indian Creek Village or Palm Island.  Normandy Island had 5 sales with an average price per square foot of $436 and we decided to add Golden Beach to the mix because we are seeing a lot of people considering the move there because of affordability factors.

Golden Beach Home Sales

There have been  7 waterfront Golden Beach homes sold this year with an average price of $621/sq.ft.  The highest sale was an oceanfront house selling at $7.7 Million

277 Ocean Blvd sold in March for $1,186 / sq.ft. – that’s higher than the Star Island home sale but then again, we are talking beach front.  A 6,495 sf house on a 20,700 sf lot with 6 bedrooms, 6 bathrooms and 1 half-bath, 2-car garage, totally renovated with a monthly rental price of $42,000.  It was originally listed for $11,800,000 in 2006.  Remember that Ricky Martin is also selling his Golden Beach home – that one listed for $18.9 Million.

So there you have a brief synopsis of what has happened to the Miami Beach Waterfront Housing Market in the first half of the year.  To download the data associated with this article, please click on the button bellow.  **all information obtained from the Southeast Florida Multiple Listing Service**

Top 3 Most Expensive Miami Beach Homes sold in April 2011

There were 19 Miami Beach homes sold in April of 2011 compared to 32 sales the previous month. Sales prices ranging from $190,000 for a short sale in the North Beach area, to $5.74 million for a North Bay Road open bay beauty mentioned below.  April’s sales were impressive because more than half of them were over $1 million, which means the luxury market is catching a well deserved break.  The distressed market continues to decrease and when good properties come up, they are snatched up for top dollar, not the believed “bottom feeder” prices.

April’s Most Expensive Miami Beach Home Sale

5380 N Bay Rd – Miami Beach, FL 33140

Listed for $5,900,000 and sold for $5,740,000 on April 27th, 2011

Another North Bay Road Home sold in April.  This one a 6,432 square foot bay front beauty with an inviting Spanish Colonial flair – surrounded by loggias, balconies and courtyards that become so perfect for our South Florida weather.  The inside a bit dated with maybe a bit too much wood-work, but nothing that can’t be salvaged.   It had been on the market since November of 09 with a starting price of $10.5 million.  and after several price reductions, finally sold at almost 1/2 the original listing price.  The marketing description simply read:

Best Deal on North Bay Road Wonderful Open Bay View home. State of the art kitchen appliances, with granite countertops and exquisite wood cabinetry. High ceilings; inviting courtyard; custom made exotic double aquariums in the family room. Marble and wood floors throughout the house.  Has been rewired with Creston and Lutron technology. It is ready to move in.

Features:

• 5 bedrooms / 5 bathrooms / 1 half-bath
• built in 1934 – remodeled
• 6,432 sf
• 12,759 sf lot (79′ X 161′)
• 80′ of water frontage (open bay)
• private dock
• pool
• 2-car garage

April’s second Most Expensive Miami Beach Home Sale

5150 N Bay Rd – Miami Beach, FL 33140

Listed for $5,490,000 and sold for $4,568,520 on April 26th, 2011

Not my favorite type of architecture (I call it butchered mid-century – but I’m not the one that has to like it).  This 1954 North Bay Road home was obviously added on to and re-built through the years with a sort of 80′s look to it, but over 100′ of open bay water frontage with is priceless.  It was listed on September 2010 and was under contract by November and then under contract again in March of 2011.  Making this Miami Beach Luxury home a quick seller, considering average time on the market passes the 1 year mark.  The marketing description reading:

Breathtaking Bay Views from this exclusive N Bay Rd residence. 6,360 sf , 6 bed , 6 1/2 bath……18,585 sf of land. 105 feet of water frontage. Private Boat Slip is grandfathered in and can not be duplicated. Very rare and valuable. New Electric, new security system. Brand new massive sliding doors for back of the house, creating flow thru right to pool and bay. Best priced of all its closest comps (6000-7000sf houses) on N Bay Rd.

Features:

• 6 bedrooms / 6 bathrooms / 1 half-bath
• 6,360 sf
• built in 1954 – butchered remodeled
• 18,585 sf lot (105′ X 177′)
• 105′ of water frontage (open bay)
• 2-car garage
• private doc
• pool

April’s Third Most Expensive Miami Beach Home Sale

1337 N Venetian Wy – Miami Beach, FL 33139

Listed for $4,500,000 and sold for $4,100,000 on April 28th, 2011 as a short sale

Impeccable Contemporary Miami Beach home on San Marco Island in the Venetians.  Not my favorite of the Venetian Islands but gorgeous home nevertheless.  The home shows an original listing price of $6.9 million back in June of 09 with several pending contracts as well as price reductions and finally selling at $4.1 million which is an amazing purchase for 70′ of open bay frontage and new, modern constructions.  It was marketed as:

SHORT SALE! Located on picturesque Venetian Island, this 2-story, impeccably done, contemporary masterpiece offers breathtaking, wide open, unobstructed bay views. Enter through the artistically designed gate that leads into a perfectly manicured courtyard. The finishes, architectural design and lighting are brilliantly orchestrated.  All bedrooms have their own bath & built-out closets. The master bedroom has his/her closets and a state-of-the-art master bath. Separate guest hse & separate 2-car gar

Features:

• 6 bedrooms / 7 bathrooms
• 5,859 sf
• built in 2007
• 12,250 sf lot (70′ X 175′)
• 70′ of water frontage (open bay)
• private dock
• pool
• separate guest house
• separate 2-car garage

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

Anna Kournikova selling her Miami Beach Home

Yes, sexy tennis star Anna Kournikova is selling her Miami Beach home for $9.4 Million.  The home is not open bay and is located on Sunset Island number 3 in Miami Beach and unlike what you may think, it doesn’t have a tennis court either.  We love to get the scoop on Miami Celebrities and their crash pads and I have to add that Anna seems to have great taste, based on her choice of finishes, decor, and boyfriend. (cough….Enrique Iglesias….cough).

This Miami Beach celebrity home has 7 bedrooms and 8 bathrooms, 2-car garage, 6,630 square feet of living space, 156′ of water frontage, private dock, heated pool and Jacuzzi, 2-story guest house, sauna……and was built in 2000, so it’s a modern “mediterranean style” home.

Does this mean we’ll see less of Anna Kournikova in Miami?  I hope not!! But this property may be just what the doctor ordered for the Sunset Islands which have had a rough 2 years of very low sales.

10 Ways to Turn-off Miami Beach Luxury Sellers

It’s a buyer’s market, right?  So what could a good, willing and able buyer do to turn off a seller?  If they are serious Miami Beach home sellers then you should have complete power as a buyer and make all the demands you want, right?

WRONG!

Think again!  Just because it is a buyer’s market doesn’t mean every seller is desperate and it doesn’t mean a deal will be on your own terms either.  It takes 2 parties to come to terms in a real estate transaction, and we are seeing a lot of things that are turning off sellers.  I had written an article back in 2007 called Buyers in control? Think again, and then saw this great article by Tara-Nicholle Nelson on Trulia – 5 Things Home Buyers Do That Turn Sellers Off (and Kill Deals).

In addition to the 5 items mentioned by Tara: trash-talking, being unqualified for mortgage financing, making unjustified low-ball offers, renegotiating mid-stream, misleading or setting the seller up;  here are 5 more things that buyers do to turn off sellers.  This applies to all housing markets whether you are buying a Miami Beach home or a home anywhere else in the country.

6 – Inconsiderate Scheduling

Just because you are under contract doesn’t mean that you can schedule inspections, appraisals and house visits at YOUR convenience.  As a buyer you have to remember that there are other parties involved in a transaction and asking if a particular time works is much more effective than demanding one.  One example of this is inspections:  There is nothing a seller hates more than being told inspections are on Tuesday at 10:00 AM, for example.  Instead, the buyer should give 2 or 3 time options to the seller to see what is convenient for them as well.  That applies to every house visit, the seller is not at your beckon call, be respectful of their time.

7 – Tricks

Sellers don’t like when they feel tricked and will doubt every step of a transaction if a buyer starts on the wrong foot.  An example of this is if a seller is very particular about a certain chandelier not staying with the house and then the buyer including the chandelier in the purchase contract.

8 – Snooping

This may sound funny to many reading but it’s a huge concern.  Some buyers return to the property after hours and during weekends and lurk around.  This makes sellers extremely uncomfortable and may even turn them off to a point where they won’t even accept offers from those buyers.  One thing is for you to drive by a property for a second or third look, but something completely different is to hang around at odd hours looking around and questioning neighbors.

9 – Indecisiveness

When a buyer changes their mind several times about items to remain in the home, it can become an issue at closing.  Once items are negotiated, stick to the original plan and don’t change your mind.  This applies to changes to property, repairs, exclusions or inclusions of furniture or other items and contract deadlines.

10 – Continuous showing requests

Finally, sellers hate when you request to see the house several times before closing outside of required contractual agreements.  Don’t schedule your contractor, interior designer, painter, landscaper, etc until you have actually closed on the property.  Everyone wants to save some time and get things started before they move, but one thing is to visit the property once or twice, and another is to request all kinds of visits.  Remember they have to pack and move too, be considerate of their time.

We’re regularly on both sides of the coin and go out of our way to explain why certain things should or should not be done.  Whether you have bought and sold several homes, we guarantee that the more respectful you are of the other party, the better it will be at the end.  We have seen sellers leave gifts for buyers or arrange dinner parties to meet neighbors.  There is absolutely no reason to be uncivil during a real estate transaction and negotiations can be done and agreements reached without hostility….leave that for attorneys, if those have to get involved.

Top 3 Most Expensive Miami Beach Homes sold in February 2011

February’s Most Expensive Miami Beach Home Sale

2142 N Bay Rd – Miami Beach, FL 33140

Listed for $4,850,000 and sold for $4,000,000 on February 15th, 2011

Another Sunset Lake subdivision home sold! On North Bay Road just East of The Sunset Islands, this home is waterfront but not the usual open bay you expect from North Bay Road.  Here we have a 1925 home with a very traditional decor and sitting on a 20,000 square foot lot with 100′ of water frontage.  It was listed for $4,850,000 in January of 2010, taking over a year to sell.  This house would be considered a “fixer upper” in today’s Miami Beach home standards.  The MLS description reads:

Tranquil setting on sought after lower North Bay Road. Classic home on a large lot bordering 100 feet of soothing Sunset Lake waters. Expanded master bedroom, formal dining room, 5 bedrooms, 5 1/2 bathrooms, 2 car garage, separate staff bedroom with bath and a unique guest room with bath. Designated service entrance and a circular driveway. Perfectly located; walking distance to Lincoln Road shops, fine dining, and South Beach.

Features:

• 5,141 square feet of living space
• 20,000 sq.ft. lot (100′ X 200′)
• 1-car garage and circular driveway
• waterfront with 100′ of water frontage
• private dock
• 5 bedrooms / 5.5 bathrooms
• built in 1925
• 2-story Mediterranean revival home

February’s second Most Expensive Miami Beach Home Sale

5240 N Bay Road – Miami Beach, FL 33140

Listed for $4,900,000 and sold for $3,862,000 on February 4th, 2011

Mid-century modern home with wide bay views on North Bay Road.    Here we have a home with quite a listing history:  listed for sale and/or rent since 2006 with a starting price of $6,250,000 and rental of up to $25,000 per month.  It was reduced several times before finally selling last month.  MLS reading,

Impressive views of wide bay w/79 feet of prime waterfront.  Tall Cathedral beamed ceilings compliment the open floor plan. Floor to ceiling glass sliding doors allows the entire house to open to the backyard & pool w/ the Miami Skyline as your backdrop. 3 large “en suite” bedrooms & baths, new kitchen, updated baths and so much more.

Features:

• 4,915 square feet of living space
• 13,455 sq.ft. lot (79′ X 170)
• waterfront – open bay location with 79′ of water frontage
• built in 1958
• 4 bedrooms / 4.5 bathrooms
• 2-car garage and circular driveway
• private dock
• renovated bathrooms and kitchen

February’s Third Most Expensive Miami Beach Home Sale

441 E Rivo Alto Dr – Miami Beach, FL 33139

Listed for $3,349,000 and sold for $2,650,000 on February 15th, 2011

One of the highest Venetian Islands Homes sold in the past six months, selling over $920/sq.ft. where the average has been $600/sq.ft.  This 1947 home was totally remodeled in 2007.  Here’s what’s interesting – it was sold for $1,800,000 in October of 2010 and placed on the market just 2 weeks later at $3,349,000 before selling.  That’s a quick $850,000! not a bad deal at all for that seller.  MLS reads,

Modern three bedroom home completely renovated in 2007 with wide bay views. Renovation included all new plumbing, electrical, impact windows, roofing, air conditioning, and top quality Travertine flooring. Stunning European kitchen, viking appliances, luxurious bathrooms. The 13,382 square foot lot is pie shape with over 100 feet of water front. Relaxing pool area and rear patio for entertaining. Dock and boat lift. Gas pool heater and generator. This turn key property is easy to show.

Features:

• 2,871 square feet of living space
• 13,382 sq.ft. lot
• built in 1947
• renovated in 2007
• waterfront with private dock and boat-lift
• pool
• marble and hardwood floors
• circle driveway
• 3 bedrooms / 3 bathrooms

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

Top 3 Most Expensive Miami Beach Homes sold in January 2011

There were 9 Miami Beach homes sold in January 2011.   The highest sale was $4.4 Million and the lowest sale was a foreclosure near Lincoln Road for $370,000.  The talk on the street is that Miami Beach Luxury Home prices are still coming down.  The truth is that it’s a volatile market because of the influx of foreign nationals who don’t care about comparables and will pay cash, so guess what?  The better your home shows, the better the chance you will have of getting top dollar, it pays to hire a designer!!

January’s Most Expensive Miami Beach Home Sale

2128 N Bay Rd – Miami Beach, FL 33140

Listed for $4,950,000 and sold for $4,400,000 on January 28th, 2011

The home is located in the Sunset Lake subdivision just East of The Sunset Islands (not a bay-front property), and was originally listed for $6,950,000 in February of 2008.  It had several price reductions, REALTOR change and finally closed after almost 3 years.

My favorite part of the listing description is one photo of the view that reads “Wide Views, moments to open bay”.  The MLS description reads as follows:

Owner financing available….Med Contemporary, 100′ wide, secured waters, moments to open bay. Double docks, suitable for 40′ to 75′ vessel, boat lift. Elegant entrance to paved courtyard, pond, great outdoor living beautifully landscaped, marble floors, formal dining/living rms. Sunny display throughout, grand family room, French doors to pool. Master suite w/walk-in closet, open terraces, balconies, eat-in kitchen with water views, 3-car garage, no fixed bridges.

Features:

• 5,682 square feet of living space
• built in 1990
• 5 bedrooms / 5 bathrooms / 2 half baths
• 3-car garage
• 20,000 square foot lot
• waterfront
• 100 feet of water frontage
• double docks for 40’ to 75’ vessels with boat lifts.
• North Bay Road Location within Sunset Lake

January’s second Most Expensive Miami Beach Home Sale

6675 Sheffield Ln – Miami Beach, FL 33141

Listed for $2,990,000 and sold for $2,700,000 on January 10th, 2011

This La Gorce Island home is not waterfront and was listed since March of 2010 with a starting price of $3.5 Million.  It was bought for $3.2 Million in March of 2007, so the sellers did suffer a loss, which is not uncommon in Miami Beach’s Luxury real estate market, especially if you bought in the height of the market.  The MLS reads:

Elegant home on prestigious and beautiful La Gorce Island. Magnificent layout with 5 bedrooms and 4 1/2 baths. Top-of-the-line gourmet kitchen with stainless steel appliances, custom cabinetry and mink-chinchilla marble countertops. Web-server video security, indoor/outdoor Bang & Olufsen entertainment system, two-car garage. Beautifully manicured french garden with couture outdoor furniture. Stunningly landscaped outdoor area includes gazebo and high-end bbq station.

Features:

• 3,971 square feet of living space
• built in 1958
• 5 bedrooms / 4 bathrooms / 1 half bath
• 13,125 square foot lot
• La Gorce Island
• pool
• 2-car garage
• gourmet kitchen

January’s Third Most Expensive Miami Beach Home Sale

1155 N Shore Dr – Miami Beach, FL 33141

Listed for $1,990,000 and sold for $1,560,000 on January 11th, 2011

This Open Bay Normandy Island home is completely renovated to its Mid-Century Modern Character and had quite a listing history.  On and off the market since 2007 with a starting price of $2,795,00, several price reductions and REALTOR changes, was also listed for rent for $9,500, $8,500 and $6,500/month.  The home appears as purchased in 2004 for $1.1M, so depending on the cost of renovations, the seller did not do that badly.

The home description screams in all caps:

NOT a sh.sale! OWNER MOTIVATED.BRING YOUR OFFER…SPECTACULAR ENDLESS BAY VIEWS FROM THE MOMENT YOU ENTER THIS RENOVATED MIMO STYLE HOME IN GATED COMMUNITY ON MIAMI BEACH. WIDE OPEN LIVING AREA WITH FLOOR TO CEILING GLASS UNITE THE INTERIOR WITH THE SPARKLING WATERS OF BISCAYNE BAY. 3/2 IN THE MAIN HOUSE AND DETACHED 1/1 GUEST QRTRS PLUS SPACIOUS OFFICE.THE BAYFRONT POOL IS PRIVATE AND SURROUNDED BY OVER 14OOO SF OF LUXURIOUS GARDEN. LOT HAS ABOUT 90 FT OF BISCAYNE BAY WATERFRONT.

Features:

• 2,791 square feet of living space
• Built in 1950 but completely renovated
• 4 bedrooms / 4 bathrooms
• 14,000 square foot lot
• 84′ of water frontage
• open bay location on North Normandy Island

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

Miami Beach Real Estate Market Reports for 2010 – Indian Creek Luxury Homes

Only one Indian Creek home sold in 2010!  If you don’t know the area you may think this is really bad, but it is completely the opposite and reinforces the fact that Indian Creek Island is so exclusive.  We talked about the 2 Indian Creek homes sold in 2009 and keep in mind that price per square foot on the island has to do with property location (views) as well as how updated the home is.

Where exactly is Indian Creek?  It’s just South of Broad Causeway (Bay Harbor Islands) and you have to go through Surfside for access by car.  It’s a private island whose interior is occupied by a magnificent golf course.  The homes occupy the perimeter of the island and famous residents both past and present have included Victoria’s Secret model Adriana Lima, Spanish singer Julio Iglesias, his son Enrique Iglesias, pro golfer Raymond Floyd, coach Don Shula, radio magnate Raul Alarcon, and former Philadelphia Eagles owner and billionaire art collector Norman Braman.

And by the way….what you hear about Indian Creek’s obsession with security is true.  They have a 24-hour boat patrol that circles the island.  We have actually been stopped on our boat because we were “too close”.  This is the photo we took of the currently listed most expensive home in Miami Beach’s history! (another Todd Michael Glaser impressive estate).  One of the 4 current listings in Indian Creek Island for $60 Million.

40 Indian Creek Dr – Indian Creek, FL 33154

Listed for $12,900,000 and selling for $9,300,000

This 7,888 square foot waterfront mansion sits on a 53,736 square foot lot with 118 feet of water frontage.  With 7 bedrooms, 8 bathrooms and 2 half-baths, it faces Surfside waterfront homes and was listed on and off since May of 2005 with a starting price of $14.9 Million.  Must be nice to be the single sale of 2010!

Waterfront residence with Magnificent views of the water. Renovated Mediterranean home with old world elegance in a lifestyle of luxury. Located on private Indian Creek Island, on over 53,700 SF of sumptuous landscaped grounds. Home features 7 Bedrooms, 8 Baths, and 2 Half baths, 7800 SF interior. Property – 118 ft of prime waterfront.

The 4 current listings in Indian Creek include:

• 3 Indian Creek Drive (pictured above) – $60,000,000
• 17 Indian Creek Drive – $32,500,000
• 18 Indian Creek Drive – $17,900,000
• 38 Indian Creek Drive – $13,900,000

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