Miami Beach Waterfront Homes Blog

The current status of the real estate sales industry, especially those working the Miami Beach market, is in a state of change and consolidation.  I started my Real Estate career in 1998 with much success, and that success has grown each year both during the “boom” market of 2002-2006 and the current “bubble burst” market.  During those “boom” years, it seemed as if everyone and their friends had a real estate license.  Real Estate became the “in” topic of discussion- due both to the lucrative commissions and also the cultural and social appeal of shows such as House Hunters, HGTV, etc.  It seemed as if everyone wanted to be a part of the real estate phenomenon, and this was easily attainable via easy mortgages and equity lines of credit.

The “easy” money in earning a real estate commission from the sale of a property is long gone.  Today’s market requires Agents and Brokers who have strong organizational skills, attention to detail, intimate knowledge of realistic market values, a close relationships with lenders, patience, and most importantly strong negotiation skills.  The task of taking a buyer around and showing him some good “deals” is just the beginning of a successful real estate transaction.  In this market, the key is to provide a strong value-added service to the customer (both to buyers and sellers).

My professional strategy for the last few years has been to focus on investing in both the people who comprise my team and in marketing resources for our clients.  This involves such mundane but important tasks as maintaining meticulous files and a system for following up with pending offers and contracts, as well as investing in new marketing resources that allow us to promote our clients properties to influential Brokers around the world.  My highest priority, however, has been to build and retain a trained, motivated, knowledgeable, and honest team of agents that are committed to the business.

A few of the latest successfully CLOSED sales of Miami Beach single family homes that are worthy of note:

Palm Island Luxury Home

Palm Island Luxury. Granite kitchen counters w/stainless viking equipment. Marble floors and terrace with hard wood in bedrooms. Large master with walk in closets & balcony. Infinity set river rock pool w/paver deck and wet bar. Seperate maid quarters. Full emergency generator and Gated entry to prestigious Palm Island.

Sales Price: $690,000
Previous Asking Price : $1,150,000
Bedrooms: 5
Bathrooms: 4
House S.F.: 2,694
Land S.F.: 6,000

South Beach Home

Rare single family home in South Beach by renowned 1930s architect. $325k+ renovation incl new: tile roof, PGT impact windows, HVAC, elec, plumbing, lighting, heated salt pool, marble paver deck, prof landscape. New in 2008: sleek custom kitchen w/ Sub-Zero/Thermador/Bosch, exotic stone; 3 new marble baths – Hansgrohe/Duravit/Toto fixts, body sprays, wenge vanities. Original wood floors, 11′ ceiling in sunny rotunda Living Room w/ honed coral-rock fireplace, Moorish detail arches. Corner lot in Flamingo Park neighborhood of Miami Beach.

Sales Price: $1,139,750
Previous Asking Price : $1,350,000
Bedrooms: 3
Bathrooms: 3
House S.F.: 2,142
Land S.F.: 7,500

Venetian Island Waterfront Home

Prime Venetian Island property, 60 x 175 waterfront lot with 10,500 Sq. Ft.  Minutes from South Beach, The Performing Arts center, and Downtown Miami.  Panoramic Bay views of Downtown Miami, the cruise ships, and Palm Island.  This home offers Miami Beach waterfront living at its finest!

Sales Price: $1,970,000
Previous Asking Price : $3,350,000
Bedrooms: 5
Bathrooms: 5
House S.F.: 3,268
Land S.F.: 10,500
60 ft. of waterfront

Buying investment property is under normal circumstances a practically surefire method of making long term profit but right now it’s not something a lot of people are doing. This matter has bolstered the demand for property renting which many buyers of investment property are now using as a means of making sure the properties they’ve put their money into still generate a profit in the meantime. If you’re in a similar situation and happen to own something like a South Beach luxury home that’s losing money, take into account these important renting tips.

Rent money is taxable. Renting a home works the same way as if you were selling goods and services to a consumer which may therefore require that you report this income once tax season rolls around. On another note, make sure your homeowner’s insurance covers rentals in case of unforeseen damages to the property or even the tenant.

Be ready for anything. People tend to be quite lawsuit happy in this country and with renting, there’s always that risk that a tenant might sue you because they don’t like the rent you’re charging or some other matter so strongly consider hiring a property manager who knows what you can charge as well as a lawyer who knows about rental properties.

Don’t rent to just anyone. Remember that the tenant who you say yes to will be living in this property you’ve likely invested lots of money in so take the necessary precautions (references, credit check, etc) to try and make sure that they not only have a high degree of cleanliness but that they’re not a financial liability waiting to happen.

Treat the home as if you were living there. You own the property and there’s a good chance you’re going to sell it once real estate picks up again so take care of the necessary repairs and duties to keep it looking nice and you’ll also have much happier tenants.

Some useful tips to help you sell your Miami Beach home or condo.

What Works:

• Be willing to contribute to Buyer’s Closing Costs
• Consider Seller Financing
• Offer to pay for Buyer’s Mortgage Points
• Get a Home Warranty

Gimmicks that generally DO NOT work:

• Free Vacations
• Free TV’s and cars
• Non-related seller contributions

Click on the image below to watch the video

With a PROVEN track record of Cancelling debts, we can help you sell your Miami Beach home or condo.

Call (305) 673-3809 or email amkeer@fir.com for more info.

Over the past few months I’ve noticed, especially in social environments, one of the first topics that comes up is the state of the real estate market. Usually, one of the first questions I get asked is “how’s it going?” sometimes with an expression of concern. I’d like to take this opportunity to relay my response here:

The national news media and overall real estate economic statistics are dire, and getting worse on a seemingly daily basis. The truth is that the real estate market boom was overextended and very much speculative based (as opposed to need and/or value based). These current market conditions were not a surprise to me or to anyone who has been in the business through previous market cycles. Essentially, I’m the middleman in real estate transactions, I think a very valuable middleman, but nevertheless a third party to a real estate transaction. I’ve witnessed many dire situations in the past few months where owners have lost all of their equity and stubbornly clung to unrealistic prices – ultimately losing control of properties to the bank or other creditors.

I work for one of the largest and strongest local real estate companies, and yet I’ve noticed that around my office the number of active agents has dwindled. The ones that are left are those consistently ranked over the years as “Top Producers”. These real estate sales professionals are not one, two, three or even four “deal wonders” but those that have the discipline, work ethic, business and organizational skills, as well as the experience to provide value-added services to their clients. Market conditions honestly make an impact on how we work on a daily basis- in a buyer’s market the skills I just mentioned become MUCH more important.

So, my response to the casual question “How’s it going?” is- it’s a challenge, an exciting challenge that makes all of us so called “Top Producers” reach deep down inside ourselves and our skills to make sure we have the discipline in guiding both buyers and (especially) sellers to “get real” and make informed decisions. Deals are still getting done, there are many foreign as well as local buyers making offers and closing on properties. However, everyone today knows that this is a buyer’s market (especially the Greater Miami area and even the coveted South Beach market). A seller today must start by pricing aggressively and working with a qualified real estate sales professional. In the past ten days, I have personally written four sales contracts/offers totaling over six million ($6 Million) for a combination of both commercial and residential properties. The one thing these had in common: all were priced right, in very good locations, and were being handled by competent real estate sales professionals that know how to present the properties to qualified buyers and their agent (me).

I’ve noticed that contracts take longer to close, and negotiations are longer and more protracted with financial underwriting departments looking much more carefully at each and every loan application. The value equation HAS to be present today and for the foreseeable future- the latest evidence of this are the headlines from newspapers indicating a pending revision of national mortgage broker regulations and new stricter national underwriting standards.

So, to summarize, the real estate sales business is still healthy for “Top Producers”- those of us that have the ability to be selective with whom we work with, and for those of us that also have the discipline to stay focused and use our hard-earned skills to provide a true value-added service for our clients.

My Key to Success

· My team and I focus only on motivated sellers- those willing to do whatever it takes to sell their property.

· Working with motivated and qualified buyers-particularly those from Europe that understand the value in purchasing income producing and/or prime waterfront properties. If a buyer has the goal of purchasing for x dollars per square foot, then we set up a purchasing system until they get what they want.

· Continuously and religiously following up with creative & innovative marketing programs and then with direct buyers, cooperating agents, and interested parties on behalf of our clients.