Porsche Design Tower
Where innovation and technology meets Miami’s natural beauty!
What Buyers Seek in 2021
It comes as little surprise that buyers are seeking: New, spacious living with ‘staycation’ amenities, and a backyard oasis. Let’s face it, the PTSD that March 2020 served up is real, and every time we look at a property now we think; how does this space work for me during another 'lockdown’?! I could have a great kitchen to cook in, a yard to relax or hit a pool in, or a place to play with the dog. But for longevity, how do we think these concepts for living work into the near and long future?
We have definitely seen the rise of SF home living VS Condominium. I understand why people would want to live independently from their neighbors in times where we must isolate to our individual household. How does this effect the market? Low inventory of SF homes, and higher inventory of condos — even new ones.
I would say this… Many times during 2020 I have thought about what my life would be like if I was still living in a tiny 400sf apartment in Manhattan. Don’t get me wrong, I was very lucky to live in such an amazing neighborhood and building for many years. However, I had no view, little sunlight and what I would call an apartment filled with stagnant energy. 4 years ago I moved to Miami and purchased a Bayfront condo and have never looked back and it is not lost of me how lucky I am to live in such a comfortable place during these crazy times. If you need help with relocation or an intro to Miami, don’t hesitate to contact me today!
Tunnels in Miami?
What would you do in a city that’s rife with rising sea level problems? Build tunnels of course….
Seeing that South Florida, more specifically Miami, is built on what should likely be natural Everglades, how would this work? Elon Musk has proposed digging car tunnels under Miami to help mitigate the added pressure of an infrastructure shortage, rising pollution and unbearable traffic. But is this the answer?
https://www.curbed.com/2021/01/elon-musk-miami-tunnel-boring-company.html
It seems like the musings of an unregulated blowhard
https://www.businessinsider.com/miami-luxury-real-estate-market-home-sales-sea-levels-underwater-2019-3
Rather than trying to bait cities with false hopes of quickie solutions, and becoming the next Tech Utopia (I think we tried this failed idea in Austin too circa 1999. Remember the “nerd bird” flights from ATX - SJC?), we could concentrate on becoming a city of climate and alt energy solutions. We have fantastic natural resources here in South Florida, well worth saving. We have an abundance of wind, sun and rain — how is it that we also have a dying and decaying Biscayne Bay due to poor planning, sewage leaks and an unfiltered rainwater system? We also have rising sea levels that have rendered the Venetian Islands without anything except raw land value (to raze and rebuild multi-million $ homes 12+ ft above ground level to combat rising tides).
This to me, seems like an opportunity. But just because opportunities can be good for the environment does not make them mutually exclusive from being profitable or jobs driven. In a state where electric and hybrid vehicles are discouraged (and even regulated against), it seems we have an opportunity. By turning our future away from oil and gas and looking towards renewable resources, creating clever solutions for rising sea level, dying seagrass and diminished ecosystems, it seems the opportunities for Miami and South Florida would be endless. It would require brave leadership to embrace new thinking and science. It would require leaders who don’t want to continue enriching their old money friends. It would involve leadership that would be forward thinking, innovative and open to welcoming a new type of wealth. THAT seems like a better industry for South Florida to hedge its bets on.
And the alternative? I guess we can be proud of congested highways, fish kills, bird kills, bacteria filled waters that are rendered unswimmable due to sewage, beaches covered in red-tide and trash, a naked city, pollution, flooding and submerged multi million dollar homes. We don’t have to let just one corporate narcissist launch stupid solutions for complex problems, we can allow innovation, new leadership, science and clever civil engineering set the tone of the day.
Selling Your Home During Times of COVID
Possibly one of these things you don’t think about, until you have to think about it; selling your home during COVID 19. Is it safe to sell your home? Is there a market for my home? Can the buying/selling process be made safe? All great questions, let’s explore some of these topics.
How can I be safe when selling or buying a home during COVID 19? I think with this question we have to examine what we’ve learned about the virus since we first locked down our country back in Mid March. According to the CDC, we have learned that the primary way COVID is spread is from person-to-person through respiratory droplets which get inhaled into the lungs. We’ve learned that the virus spreads easily between people, and the more closely people interact with others, the longer the interaction, the higher the risk. And we’ve learned that the virus can possibly spread through touching surfaces with the virus and then touching their own mouth, nose or eyes could spread the disease, but this is not the primary way COVID is thought to spread.
OK, great, so what does that mean to a realtor and people thinking about selling their homes? These are my personal thoughts, but really as real estate professionals, we cater to the needs of our clients especially when we want to err on the side of caution and making them feel safe in the process! I always request every realtor and buyer wears a face covering for the duration of all appointments. I also believe it’s a good idea for the listing agent to open the entire house, doors etc. to limit touch points in the house. Some seller’s request all people entering wear gloves, but really I like to request people entering touch as few surfaces as possible. Most buyers and realtors are already mindful of these concepts. Also, we do things like limit the number of people at a showing. Depending on the size of the property or whether it is occupied or not, we can limit the number of people at a time at any single showing, say no more than 2 realtors and 2 buyers at a time.
Can we still do Open Houses? While the MLS has allowed scheduling dates for Open Houses, being that I live in a city with very high infection rates, I do not feel comfortable doing Open Houses or Broker’s Opens at this time. I would rather schedule a pre-screened private showing. What does that entail? As listing agents, we can request the buyer shows a level of seriousness prior to being able to view a property in person. That could include a letter from the potential lender and proof of funds (bank statements for a cash buy or a mortgage balance). While this may seem extreme, it’s an excellent idea to ensure you are minimizing showings to only capable and ready buyers.
Is there a market for my home? The short answer is yes. Right now in Florida we are finding a very low inventory for single family homes, less so for condos. The reasons for this seems varied. We continue to have buyers leaving places like New York seeking the sunshine and state tax-free destination of Florida. Also, I believe the pandemic illustrated to many, the importance of having a fantastic home — a place to be safe and retreat. We are seeing condo owners move to the privacy of a single family home. Also, with interest rates being at an all time low, there appear to be plenty of buyers available for the market. Turn-key options are the most appealing in the market. During this time, it is hard for buyers to look at properties that require large renovations in order to get settled. I believe this critical point, and pricing the property appropriately is what gets properties sold quickly in this market.
Consider investing a little in the home prior to listing for sale. As I stated previously, I believe it’s important to do all minor and aesthetic repairs prior to listing a property as you only get one chance to make a first impression! Given a budget, I am happy to suggest fixes for the property that would get your property sold quickly for the asking price you want. At the end of the day, selling your home is a business, and sometimes it’s hard to see past the memories you’ve created there. Call me today to schedule a market analysis on your property, and options for the complicated 2020 market. Conversations are always free.
Consider listing you condo for sale in Q1 2020!
Time to Sell?
Slowly chipping away at the months of inventory in the Miami market, trends are indicating it could be a great time to list your condo. Residential Sales Rise at the end of 2019 in South Florida.
Magic City?
Sitting on North Miami Beach we get to see advertising planes flying by every day of the week. All of a sudden I see on for “Magic City Casino”, and it occurs to me, why do we call this place Magic City?
On one hand, I like to think when I fly back to Miami that I’m coming back to Magical Miami! I get to live in this amazing place, with stunning weather and enjoy world class beaches that people come from all over the world to enjoy. Also, it has been a very fulfilling place for me spiritually, but of course it would be for me, if I were to show you magic places based on Astro-cartography, you would see that Miami hits high on the scale with my birth chart, but I digress…
And in some ways, it seems ironic. I mean, what’s magical about being ripped off by 3 contractors, or driving I-95 and nearly being killed just trying to merge on a daily basis? Could it be irony that’s named Miami the Magic City?
I’ve heard rumors that because of the Cuban and Hatian populations, is was coined Magic City because of their Santeria and Magic practices.
It appears that the term Magic City was really just a marketing term coined to lure Northerners to what was previously a malaria/mosquito ridden swamp in the early part of the last century. The nickname stuck.
It could be seen as ironic given the time, but it appears that this little Magic City seemed to rise to the occasion and elevated itself into one of the most dynamic, chic places to live in the world. Lambo’s and condos, yachts and art… Miami always seems to be rising to it’s own Magic status!
