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Bal Harbour Luxury Condos and Homes are Privileged Properties

Bal Harbour Residences are located within a residential enclave of Miami Dade County, Florida. Bal Harbour luxury condos and homes will be found at the northern tip of the sandy island commonly known as Miami Beach. It is the most northern of the barrier islands that stretch to the south in the Florida Keys down to Key West.

Collins Ave. is the main north and south transportation corridor through Bal Harbour. It is also designated Florida State Highway A1A. A channel runs through the northern portion of Bal Harbour which connects Biscayne Bay with the Atlantic Ocean.

A group of wealthy investors began developing the area in the 1030’s. Plans were put on hold during the Second World War when the land was used by the Army Air Corp as a training site. After the war, the barracks were converted into apartments, and Bal Harbour was incorporated as a city in 1946. Sea walls were built, swampy areas were filled in, and a yacht basin was constructed. Ocean front lots commanded high prices from the start, but small parcels in the interior were reasonably priced. A Beach Club was established in 1948, and a new bridge improved access in 1949.

A Community with Class

This chic district epitomizes the best in South Florida living. Bal Harbour luxury condos and homes are designed to improve in worth while giving owners ease of access to Miami. The are is attracting increasing numbers f young professionals who enjoy being close to all the attractions to be found in the Miami Beach area. While the excitement of the city is only minutes away from this locale, Bal Harbour retains a relaxed atmosphere. The mild weather found throughout the year allows people to walk around in shorts even in winter and swim in the warm water without ever having to resort to a wetsuit.

For more information on Bal Harbour luxury homes and condos CLICK HERE to speak with Allan Kleer

 

The latest indications that we have seen the end of the sagging real estate market have started some area homeowners thinking it may be time to sell. For those who are wondering if the long recession has altered how people look for homes – and if so, in what ways – we’ve noticed a couple of new trends.

As before, the first stop for most potential buyers is the local MLS listings. When you compare the language and features most prominent there, huge changes do not leap out. But a comparison with former language does reveal something of a shift in emphasis: many details that highlight opulence (to some, excess) are being replaced by features much more in tune with practicality and efficiency (to some, frugality). You would expect that, since consumer confidence is still less than robust.

The trend to open floor plans is nothing new: fewer walls; more living is an idea many buyers embrace. The more casual “great room” is almost always more desirable to today’s buyer than the formal living and dining rooms of 30 years ago.

As the baby-boomer generation grows older, issues of accessibility and mobility become more important. Local MLS listings that boast easy-access showers, baths, bedrooms and kitchens are highly desired and sought after by buyers in that populous group. Such listings signal a home already equipped for easy access — meaning no extra dollars will be needed for retrofitting the property. Even for those who have no immediate need for those features, eliminating a future expense (even if it seems a distant concern) can be attractive.

Prominence is growing for features that relate to extra living space. The demographic reasons are clear: in-law apartments or bachelor studios have added value for families whose children may have to move back in with them (the “boomerang” effect). Since such units may be rented for extra income in tough times, they bring an added element of financial security. Large garages fall into this category as well (but no longer for that brand-new Hummer!) Today’s MLS listings featuring an extra large garage are viewed as desirable by local buyers looking to convert it into extra useable space: man-cave, gym, extra storage, or, increasingly, home office space.

Today’s homebuyer seems considerably more environmentally conscious than heretofore. Homes that feature solar panels, green toilets or other water-efficient plumbing, and radiant light windows are increasingly desirable. This may be due to growing social responsibility — but I’d bet that reduced utility bills can’t be far behind. As a result, green technology features are working their way up in local MLS listings.

 

Normandy Island Luxury Condos and Homes Secure Wealth

Normandy Island luxury condos and homes are located in a residential district in the North Beach section of the city of Miami Beach. This enclave is situated along the eastern shore of Biscayne Bay.

Starting in 1926, Henry Levy spent two years of dredging round the clock to build Normandy Island. Levy had made his fortune by establishing a chain of movie theaters in Cincinnati. The site had formerly been a swampy area surrounding Warner Meade Island. Levy was also instrumental in the construction of the 79th Ave. Causeway to reach the site.

Normandy Island luxury condos and homes will likely be found on a street that bears the name of some French city or landmark. This is because Levy originally hailed from the Alsace region of France.

Normandy Island Offers Great Value

Normandy Island luxury condos and homes are both a smart move for buyers and a great home for owners. Island living has its own special charm, a sense that one is separate from the cares of the world. Normandy Island induces this sense of serenity, yet it is conveniently close to all the attractions of Miami Beach. This is a hard combination to top. The proof of this is the growing interest in purchasing real estate here. Sales are up, and they are expected to continue rising. With all the things that Normandy Island has going for it, it is hard to see how property could not continue to appreciate sharply into the future.

For more information on Normandy Island luxury condos and homes CLICK HERE to speak with Allan Kleer.

 

For a future homebuyer scanning through the local Multiple Listing Service (MLS) listings, first there are the meat-and-potatoes factors (baths, bedrooms, square footage), then any number of other distinguishing factors. Is the kitchen upgraded? Does the floor plan work? Will I like the backyard?

It’s easy for buyers to become enchanted by the bells and whistles as they search through the MLS listings. But no matter how permanent they consider their intended move, that home purchase should always include a thoughtful appraisal of its long-term investment value. Some of the underlying factors in that respect don’t change a lot.

Location, Location, Location! When your agent sends you a batch of new MLS listings, be sure to click on the link to the map. You know how appealing that placement is for your needs, but also consider the likely work commute for future buyers, the distance to restaurants and stores, hospitals and places of entertainment. Energy prices are all but certain to keep rising, so an MLS listing’s “walkscore” – its pedestrian friendliness — is likely to rise in importance for tomorrow’s buyer as well. Over the years, neglect can decrease a property’s value and improvements can make its value grow, but its location is permanent.

The price and property tax rate in an MLS listing should be a reflection of the wider cost of living in its immediate neighborhood. If living in the heart of town pushes your budget, chances are it will push your future buyer’s budget, as well. Evaluate the pros and cons of each of our local neighborhoods balanced with the cost of real estate in the area. Don’t forget to weigh in public schools and transportation options in the mix: if it looks like you will get what you will be paying for, it’s more likely that future MLS listing readers will come to the same conclusion.

Today’s buyers are snapping up deals on foreclosures, short sales, and plain old discounts at every price-point in the market. Nevertheless, it’s also true that when a home is bought for a discount, that very number affects home values in the neighborhood. It becomes its own future ‘comp.’ Getting a deal on a house is important, but not more important than buying a home that rewards you and your family with long-term value.

Buying a home is a process — one that leads you to your most serious long-term investment. That’s good to bear in mind every week when a new batch of fresh local MLS listings pops into your inbox. Take your time with them; evaluate the tradeoffs; drive the neighborhoods. I’m here to help you make a great choice: one that’s good for your family over the long haul!

 

Hibiscus Island Luxury Condos and Homes Are a Favorite Choice

Hibiscus Island luxury homes and condos are sited in the South Beach section of the city of Miami Beach. Palm Island lies immediately to the south. Hibiscus Island luxury condos and homes are on a man made island in Biscayne Bay. It is an exclusive residential neighborhood that has high property values. The Macarthur Causeway provides access.

Dredging to construct the island was completed in 1922. The Army Corp of Engineers also built Star and Palm Islands concurrently.

Florida real estate had been booming at the time, but fell into a slump during the Great Depression. Hibiscus and Palm Island became spots for the well to do to winter in. After the Second World War, the region once again experienced large inflows of newcomers. The Latin Quarter Nightclub helped to make the district a fashionable place for celebrities to live. Frank Sinatra and other “Rat Pack” members played at the club and relaxed at the resorts nearby.

The Hibiscus Island Miami Beach now features a wide array of housing units. There are large mansions along with smaller homes. High rise residential towers feature huge penthouse units along with smaller condos.

Hibiscus Island the Right Choice in Real Estate

Hibiscus Island Luxury condos and homes are among the best values to be found in the current real estate market. They will continue to be so into the future. The reason for this is partly the location. South Florida is one of the most desirable places in the world to live. The other reason lies in the housing units themselves. They are well appointed with quality of construction throughout. Together these make for lasting value.

For more information about Hibiscus Island homes and condos CLICK HERE to speak with Allan Kleer.

 

It used to seem like not much more than a remote possibility, but for a local luxury homeowner selling a home in today’s market, tapping into the global reservoir of international buyers is becoming more and more common. But how can you make sure your area home is marketed to this specific niche, as well as to domestic prospects? There are several ways today’s well-marketed home attracts the foreign market. Here is a thumbnail sketch of some of the strategies I have available to market your listing internationally when selling a home from our region:


Advertise – Selectively!

In order for your home seen by the right people, it needs to be advertised alongside other fashionable luxury listings. Magazines full of luxury listings are available in locations around the world. Board a plane in Paris’ Charles de Gaulle Airport, for instance, and they are hard to miss. But let me ask: when is the last time you bought a home marketed in an airport? Online is the way to go in today’s market if you are selling a home. When it comes to the top of the market, where attracting top buyers is what really counts, it’s equally true. This summer, one luxury firm rolled out an iPad app that reaches internationally — and you can be sure it’s only the first of many to come. My listings are not only marketed online, but also syndicated across multiple websites. Now that Google’s “translate” button is a universal web feature, homes marketed online are attracting even more buyers from around the world.


Why Not Offer as a Rental?

For international prospects who consider our area a suitable destination, offering your luxury home as a rental first can significantly enhance its prospects. This has the added benefit stepping up your level of exposure, opening it to include those who weren’t thinking only about buying an American property. Once they see how they really enjoy visiting here (perhaps also seeing how renting it can make financial sense), your once faraway offering moves into the ‘doable’ column. And domestic prospects who get to “test drive” life in your beautiful luxury home may just want to snatch it up for themselves. One caveat: just be sure the bookings don’t get in the way of real showings.


Hire a Realty Firm with Connections

In all cases, the surest path to selling a home is to use an agent who has connections to a network of agencies that reach across the nation – and for luxury homes, the world. When you contact me, we can schedule a preliminary consultation to scope out a marketing plan that include targets like the growing international audience for topnotch American properties.

 

North Bay Village Luxury Condos and Homes Rising in Value

North Bay Village luxury condos and homes occupy a choice piece of real estate located about 3 miles south of North Miami. Miami lies an additional 2 miles further south. The population here is slightly under 7,000.

North Bay luxury homes and condos have been built on land that has been reclaimed from Biscayne Bay. Only the portion known as Broadcast Key remained permanently above the water line. North Bay Island was created in 1940 through dredging and bulk heading. The community was incorporated as a city in 1945. Large numbers of residents used to only winter here, but now most people stay the year round.

The area abounds in attractions. Nearby museums include the Art Museum of Florida International University, the Museum of Discovery and Art, and the Young at Art Children’s Museum. The Miami Seaquarium is close by as is the Miami Metro Zoo. The region has numerous parks including the John U. Lloyd Beach State Recreation Area and Bill Baggs Cape Florida State Park.

North Bay Village Gains Real Estate Value

North Bay Village luxury condos and homes are a good buy that will get better in coming years. The quality of construction combines with the high value of location to create a winning combination. People here are proud of the community they have created. They welcome new residents and make them feel that they are part of the neighborhood in short order.

Perhaps the warm feelings one gets here is due in part to the warm weather which allows people to walk about in shorts and shirt sleeves even in winter. This leads to people enjoying the outdoors and naturally running into their neighbors in so doing. They will stop and chat and perhaps admire the fine place they have chosen to live.

For more information about North Bay Village Luxury homes and condos CLICK HERE to speak with Allan Kleer.

 

A new term is making its way into daily investment or real estate conversation: “Section 1031″. But most people are not really aware of much more than the basics, and that can have negative consequences.

Basically, a “1031” is changing the form of an investment without, according to the IRS, having to cash out or recognize it as a capital gain, thus allowing your investment to keep growing tax deferred. You can do a 1031 an unlimited number of times and as frequently as you want. You can roll over the gain from one real estate investment to another to another ad infinitum; and even if you make a profit on each swap, you avoid tax until you actually sell for cash years later, at which point, you’ll likely pay only one tax, and hopefully only at a long-term capital gain rate, currently 15%.

But there are issues that you might be unaware of that can cause you majore headaches, such those involving depreciable properties. To avoid later problems, here are some…

Things to Know about 1031

  • Not for Personal Use: But with Exceptions: A 1031 is only for investment or business property, so it cannot be applied to your primary residence. There are loopholes that allow you exchange vacation homes, but it’s much narrower than before. Exchanging corporate stock or partnership interests aren’t allowed, either. However, some swaps of personal propertly qualify, such as a painting or even interests as a tenant in common (TIC).
  • “Like-kind”: This is a vague phrase, but most exchanges need only be this. For example, exchanging a strip mall for raw land, or even one business for another. The rules are surprisingly liberal, but there are traps to be aware of.
  • “Delayed” Exchange: Strictly speaking, a simple exchange is just that – one property for another, usually between two people. However, since it’s not easy to find someone wanting the exact property you want who also wants the exact property you have, most of these transactions are delayed exchanges involving a intermediary; they’re also known as three party exchanges, or Starker exchanges (after the first tax case that allowed them). The intermediary holds the cash from your “sale” and uses it for the “purchase” of a replacement property for you.
  • Designating and Closing Replacement Property: When your property is sold, the middleman receives the cash because your doing so cancels the 1031 treatment. Then you must designate the replacement property within 45 days of the sale. Additionally, you must close on the new property within 180 days of the sale of the old one. These times are concurrent, meaning that if you designate within 30 days, you have 150 left to close.
  • Multiple Replacement Properties: The IRS allows designation of three properties, but you have to close on one. You can also designate more properties within certain valuation parameters. For example, there can be an unlimited number of designated potential replacement properties. However, the market value of the replacement properties must not exceed 200% of the aggregate market value of all the exchanged properties.
  • Cash Received Is Taxed: Any cash left over after the intermediary acquires the replacement property will be paid to you after 180 days. Known as “boot”, it will be taxed as partial proceeds from the sale, known as a capital gain.

Beware of These Pitfalls

  • Mortgages and Other Debt: Failing to consider mortgage loans, debts on the property sold, and debts on the replacement property are all main ways people get in trouble. If your liability decreases, it will be deemed income, even if you don’t receive cash back. For example, you had a $500,000 mortgage on the old property, but your new mortgage you received is only $450,000. This $50,000 gain is also a “boot” that will be taxed.
  • Be Careful Using 1031: The $500,000 capital gain tax shield that applies when you and your spouse sell your primary residence does not apply for a second or vacation home. Also, special rules apply when depreciable property is swapped in a 1031: any gain is called a “depreciation recapture”, which is taxed as ordinary income, though this loophole was tightened in 2004 by Congress. Vacation homes can still be turned into rental properties and go through 1031 exchanges. However, if you just hold it for rent but never actually have tenants, there will most likely be ta issues. Facts and timing will be vital. You’re better off as more time passes, such as more than six months, though a year would be better. Furthermore, if you want to use the property you acquired in the swap as your new second or even primary home, you’ll have to hold off moving in.

For more information, or for information pertaining to your specific situation, please see your local real estate agent, accountant, or tax attorney. Due diligence is always your best course of action so that you’ll be prepared.

 

Miami Shores Luxury Condos and Homes Represent Rising Worth

Miami Shores luxury condos and homes provide their owners with good value that grows more in worth through the years. These well built homes are designed by some of the most highly praised builders working in the field. They allow people to live in style while enjoying great appreciation rates. Miami Shores is a residential neighborhood that lies about 1 mile south of North Miami, Florida.

Many factors point to this locale enjoying high rates of real estate appreciation. The South Florida region has great appeal for increasing numbers of retirees. The warm climate is especially attractive to people who have grown tired of having to endure winters in colder climes. By retiring here, people can enjoy outdoor living the year round.

South Florida is also a very cosmopolitan region which is attracting increasing interests from foreigners seeking a second home that will retain its value. Miami Shores is an ideal spot for them to buy. The community is very neighborly and welcoming to newcomers.

Miami Shores was once part of Miami, but it separated from the city in 1995. In that same year, the famed Kennel Club dog racing track here closed down. The locale has become more sedate since the days when big crowds used to come to watch the dogs run.

Miami Shores luxury condos and homes gain benefit from the Playground Theater found in the district. Residents can also tee off at the Miami Shores Country Club and Golf Course. They can also picnic and relax at Arch Creek Park which gets its name from a natural rock formation which serves as a bridge over the creek. Altogether the neighborhood contains 11 parks. They have ball courts and field areas for handball, tennis, basketball, baseball, and soccer.

A Place to Live Well and Prosper

Miami Shores luxury condos and homes are an excellent choice in housing. They are conveniently close to the wealth of attractions found in the Miami Beach vicinity. For this reason and because of the quality of their construction, they should continue to appreciate nicely in the coming years.

For more information on Miami Shores luxury condos and homes CLICK HERE to speak with Allan Kleer.

 

Most U.S. citizens stopped believing in the famous American dream of buying a home. Nowadays, the Mexicans, Chinese, and Canadians, are the ones that check out the American real estate market looking for a perfect home to live in. They are interested in getting the best deal. Also, they want a secure property to invest their money or a luxurious vacation house. The number of foreign purchases in America increased by 24% and reached $82.5 billion of the annual sales.

Foreigners Adore the US Real Estate Market

Foreign consumers like investing in the American market because they think their money is safer here. Despite the fact that they are purchasing only one property, they are 100% positive that their investment will pay off. Real estate agents are declaring that up to 40% of their companies’ sales are redirected towards foreign buyers. Brazilians adore Miami Beach and South Beach because of the water. Canadians are in love with Florida and Europeans prefer Florida’s west coast.

Even though home prices are expected to inch up, international buyers will still have an increased interest in the U.S. market. The truth is that international consumers don’t care that much about the number of zeros after the dollar sign. They care more about the status. There are countless reasons for which foreigners are interested in buying an American home: they need a rental unit, they want trophy homes, they like the idea of having a vacation home or they simply want to invest their money in the U.S. market. All these factors are flattening the overall cost and the changes that occur throughout the buying process. For example, the prices in Miami increased by 2.1% in only one month (June to July). Miami is an international market attracting individuals from everywhere. These persons have an income that’s above the average and are interested in making a statement.

Canadians Dominate the US Housing Invasion

Reports are showing that Canadians are leaders of the housing invasion in 2012. They have conducted 24% of the international sales. The Canadians purchase American homes because of the close proximity between the US and Canada. They are buying mainly in Florida, since they’re attracted by the warmth of this state. For Canadians, this is just a cheap method of escaping the below – freezing temperatures and the snowy weather. The Canadians are the number 1 foreign browsers and they are currently searching for properties in Orlando, Fort Lauderdale and Miami.

The second place is occupied by Chinese buyers. They are also exploring residential neighborhoods in San Francisco and Los Angeles. They make 11% of the foreign sales and they have spent $9 billion on American houses. The income levels are critical when it comes to Chinese buyers. Most of them come from the middle class, but there are also numerous wealthy Chinese people. Last but not least, we have the British who are looking for elite addresses. They are searching for homes in Las Vegas, Orlando and Los Angeles and they are interested in large mansions, measuring almost 2,342 sq. ft. On the other hand, the Mexicans are searching for smaller homes, measuring up to 1,794 sq ft.

 

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31 Articles Found

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