Miami Real Estate

Widely tauted as perhaps the most over-the-top sales scheme to sell a house (at least this summer) is Deven Traboscia’s marketing strategy to sell her own 4 bedroom Florida house.    Auctioning off her Palm Beach Gardens home on  e-Bay and Craigslist, the 42 year-old single mom and licensed Realtor added herself to the pot, to sweeten the deal.  

Bids opened at 99 cents. That, for a house, might seem too good to pass up for most homes, let alone one that included a “hot mamma”.  This particular house-for-sale  had one tiny  little catch though:  a whopping $500,000 for shipping charges.   Actually, it had another catch (for better or worse):   a wife … included in the sale.   Trabosh was selling her South Florida house…  and… looking for the fairytale ending.

Struggling to sell property in a semi-stagnant Florida real estate market…   she came up with a  plan to combine love and real estate.  Two for the price of one is catchy in America, where ‘more’ is better, and supersizing it is the order of the day.   While many Realtors rummage through the more traditional ways to make a lisitng stand out: spiffing up the interiors, and sparking up the ‘curb appeal’, and designing colorful and descriptive marketing pieces, Deven Traboscia  literally just grabbed the media.  Overnight, hers became a household name.

 Did the house sell?   ”No”   … But…   She gave it a shot.   e-Bay pulled her ad: their guidelines and regulations “prohibiting the sale of human beings…  or body parts“.  Her auction ground to a halt, before a sale could be  finalized.  

ABC covered the story.  CBS  chimed in.  NBC did a piece.  

Each interviewed, quoted,  photographed, and plastered her name and her story on TV and through the internet.  

Newpapers across Florida, across the continent, and around the globe gave her instant notariety. 

Her house may not have sold, but she took full advantage of the media.  Before her ads were pulled from eBay, Deven Traboscia got her money’s worth… and a nibble:  An Italian gentleman expressed interest in flying over for a “viewing” …wanting apparently a  “CASA A MIAMI”  because somehow  Miami was suggested as the location for that viewing.   Miami is a tad distant from Palm Beach Gardens , and  I usually recommend that my clients see the actual house before buying…but… amazing things are possible on the internet!  Visual tours, and  Google Earth give us tools that aid in visualizing a property, and the Palm Beach Gardens house was a package deal afterall.   I  have to hand it to her for being creative.  Hers  is now literally a household name…for better or worse:  ‘Home for sale includes Wife“… Catchy, isn’t it?   We all need to be creative in a tough market!   And using technology, and media coverage,  works!

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Brickell has become the  ’new’  face of Miami, seemingly overnight.  Mary Brickell Village  added both charm and infrastructure  to the up-and-coming neighborhood of Brickell Avenue/Downtown and made it come alive!    Mary Brickell Village  is basically by  SW 10th Street,  just west of Brickell Avenue…  offering vibrant night-life, with both upscale and more “neighborhood/laid-back” dining.

A brand new Publix  just opened there a month ago:  31,000 square feet  of  “Green”  supermarket on the west side of Mary Brickell Village. You’ll also find a  drycleaner ,  tobacconist,  ice-creamery, chocolatier,  Kinko’s, FedEx, and a pharmacy…       along with several delightful dining spots. 

Mary Brickell Village is a   charming   ‘center of town’      (in  the heart of the financial and banking center of Miami)…    a quick ride from the Miami  International Airport…  a stone’s throw from Brickell Key,  Bayfront Park and the Performing Arts Center…  and literally right across the bridge from both Miami Beach  and Key Biscayne (with their endless water, sandy beaches, and resort lifestyles … )  

The  neighborhood  around Brickell could definitely use a movie theatre,  and is screaming for a local bookstore (Books & Books would be a definite asset!) … but Brickell is coming along by leaps and bounds.   

The Brickell MetroRail station and People Mover offer easy access into and out of MaryBrickell Village.   Reasonably priced parking is available (street and garage). 

A few blocks north you’ll find the Capital Grille, the quaint and characteristic Miami River Waterfront  and waterfront promenade,  Il Gabbiano’s stunning waterview dining, and Tobacco Road …. And within Mary Brickell itself are newly-opening shops and boutique-style stores… Mary Brickell Village restaurants, many offering OUTDOOR dining, are worth seeking out even if you’re not living in the immediate area!)

 Among our favorites are  Balans, Oceanaire Seafood, Abokado Sushi,  Blue Martini, Grimpa, Segafredo, Blu Pizza e Cucina, and Rosa Mexicano…  (Mary Brickell Village reminds me of  what Lincoln Road brought to Miami Beach,  raising real estate  values and encouraging further development and growth in that area of the beach).

Love to hear your thoughts, and your favorite spots in and around Brickell… what you enjoy about it, and what you’d like to see added to Mary Brickell Village.

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I enjoy knowing about each and every WEEKEND event or festival scheduled in and around town. Miami is famous for fun and frolic.  Even if I’m holding open houses and can (maybe) squeeze in a single  neighborhood highlight somewhere over a given weekend, I want to know  EVERYTHING   going on in Miami. 

 My favorite source of  inside information is Robert Burr’s weekly blurb “Great Gables“.   I am eyeing ”Fairchild Garden’s MANGO FESTIVAL”  this weekend… which sounds idyllic.   MIAMI and MANGO just seem to fit together!   The Mango Festival:   Fairchild Botanic Tropical Garden .

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BUYERS ( …  and … REALTORS)   WANT TO KNOW:   “Which condos in  Miami’s Brickell area  are SOLID ? ”    …     “Where can we buy ?”    …    “Where SHOULD we buy ?”     …      “What do you recommend ?”   

The short answer is:  “Depends on the buyer”.   Yes, of course there is  a longer answer too.   Finding a solid investment requires staying on top of the changing inventory and being very, very diligent.  New construction is popping up left and right… the Miami skyline changing minute by minute.  Financial stability of any given building, and desirability of a particular building or area can morph, given time, and given the ever-changing mix of buyers/renters. 

Lenders have  strict criteria which can seriously impact one’s ability to obtain a mortgage.   Miami Condos are at times “ousted”  from lender’s lists of “qualified buildings”…  based on percentages of unsold units,  investor-owned units,  owners in arrears on  condo association fees,  short sales or foreclosures in specific buildings themselves.  With the newspapers and news channels  brimming with stories about the South Florida condo ‘glut’… where do you turn for direction? Which buildings do you look at ,and which do you consider?  And Why?

There ARE solid condos scattered all across South Florida, and some exquisitely beautiful opportunities in the Brickell area.  On Brickell, I’ve been impressed with what I’ve seen of  the 43 floor creation designed by Architectonica: The 500 Brickell Condo building  located between 5th and 6th Streets, with it’s breathtaking  floor-to-ceiling views of the bay. And 500 Brickell is Fannie Mae approved!  The photo above is taken from the 34th floor of 500 Brickell, which we just sold to international buyers purchasing  a second home in Miami.  

Of the  633 units in  500 Brickell’s two towers (East and West):   591  sold  … and 42 are currently available for sale.  Of those 591 units sold, 252 have actually closed.   63% are owner occupied (373 units) …  and 18%   (or 107 units)  were bought as vacation or second homes.  Only 19%  (or 112 units)  were purchased for investment purposes (and rented/leased out).

Those bits of information are helpful in knowing whether a bank will or will not provide  financing… and whether you, as a buyer,  will need cash to close.

Important to know, in any condo building,  is the percentage of occupants  in arrears on their association payments.  Those percentages can seriously impact whether a new buyer can obtain financing, and  may predict even how the building will or will not  be maintained (peering off  into the future)… and ultimately whether possible assessments are on the horizon.   Without a crystal ball in hand, facts and figures go a long way in paving the road  and helping buyers with their selection process.  

Have any questions about 500 Brickell?  Contact us anytime.  You may work 8am-6pm, but we are available after you’ve left the office, and you can always contact us through our website.  You’re always welcome to explore current listings or glean information on Miami’s eclectic and charming neighborhoods at www.MiamiRealEstateCafe.com .  Care to know about other intriguing opportunities in the Brickell area?  We’d love to hear from you.  Please leave your comments regarding Brickell… opportunities you’d like to share… insights, thoughts, and questions.

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Miami is full of activities year round, and Fourth of July is no exception. There are many places celebrating with fireworks throughout the city. Here are just a few :

Fourth of July at Bayfront Park

This celebration has fireworks, children’s activites, food and drinks. Come out and enjoy the evening !

Time: 4:00 pm – 9:00 pm
Location: Bayfront Park, 301 N. Biscayne Blvd., Downtown Miami

Key Biscayne 4th of July Parade – 50th Anniversary!

Up and down Crandon Boulevar, floats, marching bands and street performers show off their skills in this small town celebration.

Time: 11:00 am – 12 noon
Location: Village Green, Key Biscayne

Old Fashioned July Fourth Picnic

This old fashioned picnic takes place on the grounds of a 19th century pioneer home site. The Barnacle Society hosts it and features kite making and lawn games, plus many other activities. Pack your a blanket and a picnic lunch and enjoy a fun filled day at the Barnacle.

Time: 11:00 am – 3:00 pm
Location: The Barnacle Historic State Park, 3485 Main Hwy., Coconut Grove
Cost: $5 for adults, $2 for kids age 6-12, kids under 6 are free

An American Celebration – July 4th on Miami Beach

Miami Beach presents fireworks and music by DJ Irie. It’s open to the public and free of charge. Bring towels and chairs, but no coolers or bottles, as they are not allowed on the beach.

Time: 7:30 pm

Location: 8th Street and Ocean Drive, Miami Beach

Be sure to take advantage of these great events – Happy Fourth of July!!

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The BEST 100 cities  in America?  Two of them are in South Florida!

Tauted for it’s combination of  lifestyle and business opportunity Doral is ranked among the top two South Florida municipalities by CNN Money.com.  Business opportunity, coupled with ”quality of life”,   art, culture, top educational venues, and WORLD CLASS GOLF,  put the City of Doral on the map  (along with Fort Lauderdale) as one of  THE TOP 100 CITIES IN THE UNITED STATES IN WHICH TO LIVE, WORK AND PLAY .

Forbes.com named the City of Doral  Doral as one of the two best places to reside in the United States out of their 25 top choices for 2009!  Patents, venture capital funding, sole proprietorships, and start up companies (per capita) …  were among the criteria used by  Forbes.com  in ranking their top 25 cities to live ”well”  in.  Incorporated 6 years ago,  and transformed  literally overnight  from cow pastures and open expanses of  green spaces into a beckoning destination with a population of just over 35,000 Doral ranks #2  as the BEST PLACE TO LIVE WELL…by FORBES.COM.

Having become a veritable small business hot-spot, in a heartbeat, Doral is home to multitudes of  businesses catering to the Latin American Market.  With one of the highest per capita concentrations of small businesses, and home to logistics, aerospace, and telecommunications industries,  the City of Doral is headquarters for several major corporate entities as well.  Pepsi-Cola is a strong  South Florida economic influencer,  and Brightstar (specializing in telecommunications and wireless communications products)….  is one of the largest Hispanic-owned companies in the United States.

Resort-style communities  abound in Doral, offering  world class golf and amenities,  and options of single family homes, or townhomes and condos.

Doral Isles offers acres of community recreational facilities :  lagoon pools with cascading waterfalls, soccer fields, baseball, basketball, kayaking, sandy beaches, docks, full-service fitness centers, open air cafes and outdoor dining. Here is a beautiful two story, 3 bedroom, 3 bath townhome for sale in the community. Considering living in Doral?   Call us!

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Coral Gables Restaurant Week is back! A play on Miami Spice, patrons enjoy fixed menus at lunch and dinner. Restaurants such as  Bangkok Bangkok, Ortanique on the Mile, Spris, Tarpon Bend and Ruth’s Chris are among some of the restaurants participating in this great event. Restaurant Week, which in fact is a two week event, runs from June 1 to June 14. Don’t miss out on this chance to try some of Coral Gables’ best restaurants.

For a complete list of participating restaurants, visit the Restaurant Week site.

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Located in the heart of the Village of Pinecrest, this South Florida model of environmental Green Living feels something akin to living in a National Park!  Beyond bucolic, Smathers Four Fillies Farm is a rare community offering a unique concept, and an even rarer opportunity to live in a sustainably eco-friendly environment!   The link to an article in e-Veritas is below:

Smathers Four Fillies Farm  is among the three finalists for this year’s Urban Land Institute’s top awards recognizing sustainable developments and GREEN living.  Lowering home operating costs by $1,000.00 a year,   Four Fillies far and away exceeds Florida Energy Efficiency Code standards… by  20 to 30 percent… and offers a unique quality of life. 

ULI’s  GREEN AWARD recognizes projects that offer sustainable values,  have  minimal environmental impact,  improve quality of life, comfort, and health… and incorporate regenerative site development strategies, energy and water conservation, use of sustainable or renewable materials, and improved  air quality.

As one the “Florida Green Building Coalition” (FGBC) certified developments, Four Fillies includes abundant  healthy insulation, special air filtration, energy star appliances,  and continuous water conservation (through landscaping choices and choices of appliances and fixtures).  Impact glass aids in energy conservation,  facilitates hurricane preparation and adds an intrinsic safety feature. Paints have low levels of volatile organic compounds. Interior wall studs are steel. The homes are termite and mold-resistant.

Dual concentric horseshoes consisting of  30 homes on a portion of 32 acres of lush tropical foliage, were created in and around existing plant life, mature trees, and tropical foliage… minimizing impact on the natural fauna,  hammocks and spectacular surrounding grounds maintained and protected by Fairchild Tropical Botanic Gardens.

The  32 acre property, donated to the UNIVERSITY OF MIAMI  16 years ago, was a gift from long-time philanthropist and UM trustee Frank Smathers.  31 homes will grace the grounds including a residence that will be home to the President of the University of Miami.  21 acres will remain pristine … (apart from the natural hammocks, which are stunningly wild and utterly beautiful!) and preserve the history of the original Smathers stables, as seen here to the right. 

 A brilliant concept, with ingenious architectural finess and design, Four Fillies offers residents a unique opportunity to live and be a part of this eco-friendly community built by Breakstone, under the wing of MAMCO ’s (Miami Asset Management Company)  Michael Katz and Patrick Burbank…  with  environmentally friendly urban design concepts from Donna Shalala , and backing and support from Evelyn Greer.

Only a handful of homes remain available in Four Fillies for purchase. Deed restrictions apply, as the property is affiliated with the University of Miami. Professors (adjunct, part-time, volunteer), deans, in addition to medical, research and recruits qualify under the deed restricted status.  Pricing ranges from $1.1  to $1.4  (11411 Smathers Circle and 11414 Smathers Circle) , and the gated communityis located is between Red Road and Old Cutler: with the entrance to Four Fillies on 11511 Red Road, Pinecrest, Florida.  For further information, call Vicki Restivo at 305 793 1365 or Alexandra Restivo at 305 632 0164.

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THE  most frequently asked Real Estate Question always asks for a  magic CRYSTAL BALL.  Who has it?  What does the future hold?   The Wall Street Journal offers a sneak peek  into the future, and a glimpse into how  top architects envision  the Green House of the Future . You might be surprised.

Four architects came up with specific plans for energy-sustaining homes, and some of their ideas are downright intriguing. William McDonough forsees creating a treelike effect, with a photosynthetic layer on the surface of the house, mimicking a leaf capturing sunlight. The solar panels would be interwoven into the exterior and would heat water and generate electricity for the home (also creating oxygen for the atmosphere).

Another hot item in GREEN buildings is the ”living roof” …. sodded, planted green space in the sky, with drainage and irrigation, and a safe haven for bugs and birds … and a ready supply of oxygen.  Returning green space, taken away by the construction itself,  makes sense.  We already have roof top pools,  so why not living roofs?

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I remember Andy’s Cup as a smaller-scale  pro-level tennis tournament than the 2009 version,  which is now held on the  beautiful tree canopied grounds of Coral Oaks Tennis Club each spring.   A few years back it was hosted by it’s creator, Dr Jules Cadet, in his own Pinecrest backyard…. literally down the street from the tennis club.  Using  just his single lit tennis court, the tournament he originally benefactored went on forever.  So did the  festivities, bar-b-que and the sponsors’ hospitality!  

Andy’s Cup has evolved into a delightful, highly anticipated annual Pinecrest event, always in April.  For the past two years  Dr. Jules Cadet  (Pinel Medical Center) has hosted this event at Coral Oaks Tennis Club on Red Road.  Organized by tournament director, Ralph Martin of GT Sports, Andy’s Cup  lures pro and university level  players to Miami…  and is free to the public… So is the food!   Sponsors range from Mercedes Benz, GT Sports,  and Pinel Medical Center, to a bevvy of others.  Despite  the complimentary  food…  and  drinks… (endless bar-b-que with a distinct Haitian flair)  the tournament raises a substantial purse for the winning players… with the bulk of the proceeds from Andy’s Cup going to a  hospital  built by Dr. Jules Cadet and his colleagues in Haiti.   Andy’s Cup…  affectionately referred to as  ”Haitian Tennis” after the cause it supports…  is  a local event that draws benefactors  from all over the United States, raising donations to the tune of $80,000.00 last year.

Teams compete in doubles, singles and mixed-doubles.  This years’ 2009 tennis players were grouped into 6 teams:  Cuba 1, Cuba 2, Haiti, World, USA, and Chile.  Teaching pros from Royal Palm Tennis Club, & Deering Bay Tennis Club …  along with college players formerly on the University of Miami Tennis Team… a dynamic  young tennis player who  recently defected from Cuba…  tennis stars from Haiti … phenomenal kids from Argentina (one  as young as 14  years old!)  comprised a diverse international group!  If America is a melting pot, Miami wins  big for creating the right recipe.  A weekend of multi-cultural competition and camaraderie…  Andy’s Cup gives us yet another reason to celebrate life in Miami !

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