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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This summer  again:  Miami welcomes residents and visitors to Coral Gables,  hosting several Italian Cooking Show EXTRAVAGANZAS at the MIA CUCINA design showroom on Coral Way…. with food and wine and laughter!  This “open-to-the-public”  gourmet food fest honors various regions in Italy, and is sponsored by local restaurants, purveyors,  talented local chefs and restaurateurs …  in conjunction with the Italy America Chamber of Commerce.  I’ve thoroughly enjoyed the  “Mia Cucina” Italian Cooking Show   in year’s past,  held each and every summer at their  Italian design kitchen showroom on 105 Miracle Mile.  The third of four cooking shows is coming up  July 16,2009  and space is apparently quickly filling up.  Since many of you ask to be notified of upcoming events, July is here, and the next Italian Cooking Show focuses on VENEZIA and VALLE d’AOSTA!    The Biltmore’s Fontana Restaurant competes against Tiramesu… for regional fare .   YOU sample, and YOU judge:  July 16  6:30-8:00 pm Mia Cucina Showroom  105 Miracle Mile, Coral Gables, Florida.  Reserve early.

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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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You came here by chance. The allure of the palm trees, ocean and tropical paradise that Miami is known for.  A gentle way of life.  Miami, southern gateway to America, beckons…. and Coral Gables definitely, unequivocally invites you to stay.  If historic Coral Gables whispers, there’s a rooftop terrace, and outdoor summer kitchen … and rooftop jacuzzi…. and an entire private villa beneath it waiting to have your name attached to it. For now, your villa holds the name of a fine wine or special story… just waiting to be told.
Step through the wrought iron gates.  Slip the key in and
Read the rest of this entry »

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For a variety of reasons,  a townhouse or villa may be a plausible answer to ‘what’s next?’  Whether you want to lock-up and take-off for a well-deserved romp around the globe… or  eliminate  entirely the hassle of maintaining a large home ( and grounds!)…  both can offer you freedom, without catapulting you into  quarters of claustrophobically minimal dimensions.  If you’re looking for independence and elbow room …  and a condo seems a bit confining…  Read the rest of this entry »

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Marketing Rich Niches  Heidi Rafferty interviews Vicki and Alexandra Restivo of EWM Realtors, Inc for Florida Realtor Magazine – November 2008 article.   The mother/daughter team connects with foreign buyers looking to invest in Florida real estate in the current market, capitalizing on a favorable euro/dollar exchange rate .  Through their website and blog, and their ability to communicate in Italian, the Restivo’s have carved a niche market with foreign investors.  Through their connections with the University of Miami (Alexandra’s alma mater) they focus on University real estate needs as well

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Heidi Rafferty interviews Realtors Alexandra and Vicki Restivo,  “Internationalists”, in the November 2008 Florida Realtor Magazine.  The mother/daughter team with EWM Realtors, Inc. have carved a niche market in a global network, drawing on a increasing number of foreign buyers looking to capitalize on the Euro/Dollar exchange in the current economic situation, and invest in sunny South Florida.
“Becoming an internationalist may be the easiest for sales associates who have language skills plus family or friend networks abroad”, says Rafferty .  For the full article:
Restivo Team: Florida Realtor Magazine Interview 11/08 “Miami is a mecca of global appeal … ”  and the Restivo’s promote it through their web site and blog.  www.MiamiRealEstateCafe.Com

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Outdoor terraces & views of the Biltmore: A dusty bottle of Sassicaia from the wine cellar. Armagnac by the fireplace. A casual evening with Read the rest of this entry »

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Hidden from sight behind a thick hedge of ficus (with no signage to  indicate that it even exists) Casa Tua is a gem you could literally walk right past, never realizing it was was there.  Located on Miami Beach,  at 1700 James Avenue, Casa Tua was once a private home.  Now it’s a hide-away for elegant, secluded dining (and with five guest rooms … it’s also an uber-chic bed and breakfast/hotel).  Casa Tua reminds me of another restaurant I’ve loved for eternity: The Ivy in Los Angeles, California.

Casa Tua is owned by the Grenedene family.  Micky Grenedene opened the restaurant, members club, and boutique hotel in 2004. This beautiful Spanish Style Villa  has the feel and warmth of a private home, but on a grandiose scale.  

Casa Tua has indoor and outdoor dining, both… with the patio areas well-shaded and private… open for lunch and dinner.  Unique to Casa Tua is a large chefs table (reserved for single diners … as opposed to large parties!)  set within eyeshot of the open kitchen.   Photographs by Helmut Newton adorn the walls.

Wrought iron gates open to an outdoor brick terrace, and both the outdoor patio and the interior ambiance will make you swoon… Casa Tua is one of the most romantic restaurants around.  

On the second floor of Casa Tua (which has another lovely outdoor terrace as well)  is a private member’s lounge/ club and another terrace. 

Patrons and guests come from literally around the globe. How they find it,  I really don’t know… except that word of mouth spreads like wildfire… in Miami (as well as elsewhere!)  … and local concierges taut it highly.

Make a reservation. 

While the restaurant may appear to be 1/2 full when you get there,  they will not hurry you through your meal … so the table is yours, for as long as you choose. 

My favorite:

Pasta with creme fraisch and caviar (sinfully wonderful…  Just don’t be surprised when it arrives tepid, as that’s truly how it’s to be served) …  tuna tartare …  a wine list to admire …  desserts to make you melt.   Portions are small, and exquisite!

Among my top restaurant choices in Miami is Casa Tua!  

For more information:  www.casatualifestyle.com 

Please leave your comments on this restaurant, and your other favorites anywhere in Miami Beach or South Florida.

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Can you imagine living in a 4 story villa in the heart of Coral Gables… a private elevator, and a rooftop terrace with gorgeous views of historic landmarks… and no grass to cut?.  If you’re looking for a lifestyle change and are adamant about not sacrificing the quality of life you are used to, you might want to explore The Venetian Coral Gables.

From the outside, the Venetian exudes luxury. Designed by architects Marshall Bellin and Glenn Pratt, the community features traditional Italian architecture and design, with paved stone courtyards and waterfountains.

Enter through your private elevator, from street level, or through your individual underground garage.  Enjoy the decadence of your state-of-the-art Italian kitchen (Wolf, Miele and SubZero appliances). Your own 500 bottle wine cellar wtih the perfect bottle of wine. Kick off your shoes and relax by the living room fireplace, or step out onto your many terraces and take in the tropical Miami air. Retire and rejuvenate overnight in your third floor bedroom. In the morning, draw open the blinds… overlooking courtyards and the Coral Gables tree canopy. TAKE A PRIVATE TOUR.

Relax with friends on the loggia of your fourth-floor private entertainment area. Whether you barbeque, broil steak, or savor Florida’s stone crabs, your rooftop garden, with it’s covered outdoor summer kitchen (with sink, stove and refrigerator) opens to the sky above. Watch the football game in the grand media room connecting to the outdoor terrace, or throw on your swimsuit and hop into the rooftop jacuzzi spa tub.

Be among the few to live in one of twenty magnificent villas and embrace the lifestyle that is the Venetian Coral Gables… Your home … in Miami.

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