Lifestyle

Category: Miami Real Estate

  • Current State of Miami’s Real Estate Market

    Current State of Miami’s Real Estate Market

    The Florida real estate market is constantly evolving, and it can be difficult for people without a real estate background to keep up with the changes. The past year has shown that the Miami housing market has softened, but real estate professionals in the area are confident that the Miami real estate bubble is not about to pop. Some of the factors affecting the current market include:

    Foreign Buyers and Investors

    Miami is a sophisticated international city, and people from around the world have been flocking to the area to invest in condos and single family homes for the past several years. Foreign buyers were particularly active in the Miami luxury real estate market; in 2015 real estate professionals said that over 50% of luxury buyers were foreign, while in 2016 that figure dropped to 33%.

    This drop in foreign buyers can be explained by economics and the foreign exchange rate. Latin American investors played a big role in driving the Miami real estate market, especially luxury properties, but major countries such as Brazil, Argentina, Columbia, and Venezuela are currently in a recession and the exchange rate in those countries has decreased by 25-40% compared to the U.S. dollar.

    Foreign buyers have not disappeared from the Miami real estate market, but their numbers are expected to be lower than normal until economic conditions improve in other countries. This has created new opportunities for local buyers and domestic out-of-town buyers.

    Domestic Buyers

    While the number of foreign buyers in the Miami area has declined this year due to economic conditions, there has been an uptick in the number of domestic buyers investing in Miami real estate. A Miami real estate market analysis shows that the number of local buyers has increased from 11% of total buyers in 2015 to 23% in 2016. American out-of-town buyers, particularly New Yorkers, have also risen in Miami from 16% in 2015 to 20% in 2016.

    The shift in buyer demographics has slightly altered the real estate environment in Miami. When foreign buyers were dominating the market, many real estate transactions were cash deals as international investors purchased luxury condos as an investment or a vacation home. Foreign buyers focused more on building amenities, nightlife, dining and shopping when choosing where to buy.

    As more local buyers are emerging in the Miami market, buyer interests are changing. Buyers are focused more on qualities such as quality school districts, commutes, and access to retail stores and activities since most local buyers plan to live in their new home year round.

    Luxury properties, particularly condos, are still in demand with out-of-town domestic buyers. Miami’s thriving Financial District, Florida’s favorable tax laws, and the beautiful climate makes Miami a highly desirable place for domestic investors or people wanting to relocate.

    Future Outlook

    The Miami real estate market may have slowed over the past year compared to years past, but it is not expected to remain this way, and prominent Miami real estate professionals do not expect any type of market collapse. In fact, figures show that there could be a sharp upswing in Miami’s real estate market in about 18 months.

    If you are interested in investing in Miami real estate, now is the perfect time to do so. Whether you would like to purchase a condo as an investment or vacation home, or are looking for a single family home, the favorable conditions for buyers are not expected to last long. Take advantage of the current inventory levels, prices, and interest rates now for the best values before the tide shifts back to a seller’s market.

  • Top Reasons to Invest in Miami

    Top Reasons to Invest in Miami

    Miami has transformed from a sunny beach vacation destination into a cosmopolitan international city, and investors have noticed. The number of investors in Miami luxury real estate is on the rise, with a number of people from Manhattan and Latin America purchasing new luxury homes and condos. There are many reasons that Miami has become so popular with investors, such as:

    High Quality of Miami Properties

    Many new luxury properties, especially Miami condo projects, have been designed to appeal to the most discerning investors. New properties are built to the highest standards and feature upscale design and quality finishes. Condo properties offer every amenity that a person could want, from spas, fitness centers, and pools to roof top decks, lounges, concierge service, and even access to exclusive beach clubs.

    Tax Benefits

    One big draw for people who invest in Miami real estate is the tax laws in Florida. The state does not have capital gains taxes, estate taxes, or state income taxes, so the potential return on a luxury property is higher than in other states in the country. It is not uncommon for high-earning individuals to invest in Miami luxury properties and make it their main residence so they do not have to pay tens of thousands of dollars in state income taxes.

    International Financial Hub

    New York City is considered the financial capital of America, but Miami is now second. Many large companies, especially those tied to Latin America, have established headquarters in Miami, and a number of international banks now have large branches in Brickell, Miami’s thriving financial district. The financial growth in Miami is reassuring to investors, and many high earning individuals purchase luxury real estate in Miami when they relocate from other places.

    Luxury at the Right Price

    Miami has been named one of the top 10 most luxurious cities in the world; the only other city in North America on that list is New York City. Those seeking luxury may begin choosing Miami over NYC is the fact that the cost of living is currently much lower in Miami. While some luxury properties in Miami sell for a price of several million dollars, right now the cost per square foot of Miami properties is below the cost per square foot of similar luxury real estate in New York City. As more luxury properties and buildings are developed, investors are lining up to make purchases.

    Art, Culture, and Entertainment

    Miami has redefined itself into a sophisticated international metropolis. Art Miami and Art Basel- Miami Beach have grown into large annual events that garner a lot of attention. A number of quality museums can be found in Miami, including the Miami Museum of Science and the Perez Art Museum Miami.

    The culinary scene in Miami has exploded, and the city is now home to some of the top-rated restaurants in the world.  Some say that Miami can even compete with major cities such as New York, London, and Tokyo when it comes to culinary offerings. The number of luxury hotels and upscale night clubs in Miami has also grown exponentially, and Miami also has a Design District where people can shop for luxurious clothing and accessories from top designers.

    Climate

    Located between Biscayne Bay and the Atlantic Ocean, Miami has a tropical climate with year-round sun and comfortable temperatures. The beautiful weather, gorgeous views of the water, and access to great beaches is very appealing to luxury buyers. Miami has grown into a city that is able to fulfill the wants and needs of high-net-worth investors, and the climate is an added bonus.

  • Live in a Top Vacation Destination: Miami

    Live in a Top Vacation Destination: Miami

    People love to go on holiday in Miami—it is a vibrant, sophisticated city with so much to offer, perched right on the water. It is not uncommon for a person to visit Miami, fall in love with the area, and then move to Miami. But what is it like actually living in a top vacation destination? There are so many advantages to being a Miami resident, such as:

    Variety of Real Estate Choices

    Vacation destinations often have a variety of properties for sale, and Miami is no exception. Whether you’re looking for new luxury homes, luxury condo properties or more affordable options, the Miami, Florida real estate market has something for everyone. You won’t regret moving to a place that everyone loves to visit on vacation!

    Warm, Balmy Weather Year-Round

    Miami’s location in South Florida provides a tropical climate that is warm year-round with a lot of sunshine. People spend a lot of time and money planning holidays to Miami for some time at the beach, and when you live here you can feel like you are on vacation all of the time. Your friends and relatives who are shoveling snow in January will be jealous when they look at your photos and see that you’re wearing shorts and flip-flops all winter long.

    Access to the Best Attractions

    Tourism is an important part of Miami’s economy, and the city has grown to include amazing attractions that appeal to visitors. Every weekend can be an adventure if you live in Miami. There are so many things to do in every area of Miami! You can hit South Beach, North Beach, or Haulover Beach Park for some relaxation on a wide, beautiful beach one day, and visit Vizcaya Museum and Gardens or the Wynwood Art Walk the next. Don’t forget about the opportunities to charter a boat and spend time out on the water with family and friends. One of the best things about living in a prime vacation destination is the fact that you’ll never get bored or wonder what to do in your free time.

    Indulging in the Best of Miami

    If you’re a foodie, Miami is one of the best places to live! The culinary scene in Miami has exploded, and you can find amazing restaurants serving international cuisine all over the city. Miami is home to some of the most luxurious hotels in the world—when you live here you can get pampered at the amazing spas without having to stay overnight.

  • Here’s What $19 Million Can Get You in Miami

    Here’s What $19 Million Can Get You in Miami

    When you think of Miami, you probably think about gorgeous beaches, giant homes and condos on the ocean, an extravagant nightlife and celebrities galore. Well, for the most part that is entirely accurate and here is one of those giant homes that just sold for a hefty price tag of $19 million dollars. With an address in Miami Beach, this place radiates luxury throughout the entire estate. Here are some of the things that you get with a $19 million dollar home in Miami.

    Situated on Indian Creek, with direct ocean access, and 175’ of direct frontage, this 1.1-acre lot is the home to a gorgeous Mediterranean estate. Built in 1937 and updated in 2015, this home didn’t spend too long on the market. This incredible home features nine bedrooms and 11 full bathrooms (+2 half bathrooms), a two-bedroom guesthouse and two guest apartments.

    Measuring in at just over 12,000 square feet of living space, this expansive estate features just about everything one could want. On the property, you will find a 22,000-gallon pool, spa, koi pond, sculptured gardens, private gym, wine cellar, library and a safe room. With a private dock, you’d be able to tie up your watercraft for easy access. Great schools, convenient location to just about everything, and frontage on the water with access to the ocean, does not leave many people wanting much else.

    This is just one of the many Miami Beach mansions that line the waterfront and streets in south Florida. For more luxury properties available in Miami and surrounding areas, contact the real estate professionals at Viac Luxury Real Estate for more information at www.viac-miami.com.

  • Top 6 Reasons to Move to Miami

    Top 6 Reasons to Move to Miami

    “I’m moving to Miami,” says everyone who has ever survived one blustering, bitter winter day. We hear it every year and still each winter, watch our news feeds burst with claims of abandoning the north for better days toward the equator. We laugh, sometimes in January, from our penthouses with cocktails in hand at the idea of our closest friends waddling in vertical sleeping bags up to an air-tight hallway that someone branded as a lobby. Snow falling at their feet as often as we run our fingers through our hair in the low-seventies breeze.

    Besides the soul-sponging indulgence of getting a laugh at my tundra-bound friends, if someone asked me, “why move to Miami?”, I could sum up the rationale in six points.

    The Real Estate

    Miami luxury real estate is certainly something over which to gush. It is not attainable for everyone, and frankly, that is part of its appeal. But luxury Miami is not solely reserved for the highest price tags assigned to the best corners of grid-locked streets. Luxury real estate here is the actual luxury. Architecture ranges from historical to modern and glows under an artist’s touch. Furniture isn’t too nice to sit on; it’s so exquisite and lush that you want to stay cooped up or sprawled out on it forever. Windows stretch for days and eliminate the need for fine art (hypothetically, hypothetically…) with their insane blue views of the sky and the sea. Boat lined harbors and wide-brimmed hats speckle the scene with just enough movement to remind you of the wind and chatter whisking about the day. Miami views are not tantalizing. They are approachable. The sun outside casts warm kisses along the shore and invites you outside to shop or dine any time of the day. Lux living in Miami is actually where life is as good as it gets.

    Fashion and Shopping

    On more than one hand, I count the times I shopped until I dropped. Literally, made it home only to plop on my bed, bags still around my wrist. I suppose the copious cosseting of a closet could be one reason to not migrate south, but if you can control your addiction, you’ll thrive in this fashion capital. Bold designers, boutique traders and luxury artists dabble in new creations daily. Streets are quite literally lined with the world’s most famous designers and local artists that never bother to stretch farther than home.

    Nightlife

    If you have not seen photos of all-aged livelihoods boasting hand crafted cocktails amidst postcard views with a famous DJ in the background, you need to move here yesterday because you are living under a rock. Miami nightlife is a top destination and consequently, never sees a night with festivities raging until the sun is ready to rise.

    Dining

    The Caribbean influence is one of the best treats in Miami culture. Tasty Cuban restaurants dazzle taste buds on the reg and alter the course of culinary interest for life. Luxury dining is everywhere, sometimes hidden in the walls of streets; other times within Gianni Versace’s old mansion. Celebrities trail the migration of the world’s best chefs to the city, and you can believe the word meal will be removed from your vocabulary. We are talking a kitchen craft and hospitable retreat as many times a day as you desire.

    Entertainment

    Oh, the host we are! From the most prestigious food and wine festivals to performing arts and world-renown installations and sculptures in everyday use, there is never a day that goes shy of the bustling, artistic offerings of the city’s entertainers. Don’t feel like heading out on the town tonight? No worries, just watch the light show from your wall-sized window amidst the city’s skyline.

    So are you ready to make the move before the umpteenth episode of bitterness in your life? When you are, get in touch with VIAC for a top-shelf luxury real estate agent. We look forward to leading you into the high life Miami.

  • Keep Your Apartment Safe During Hurricane Disasters

    Keep Your Apartment Safe During Hurricane Disasters

    Extreme weather, like hurricanes and tornados, are common in many coastal cities, like Miami. At VIAC Miami, we know that your home is where you feel safe. Unfortunately, natural disasters can threaten your home and safety. This year, Hurricane Matthew has reminded us that it’s smart to be prepared.

    There’s no worse feeling for those who have ever returned home to a storm-torn community after a hurricane. Taking caution during a weather emergency could help you save your most valuable assets, including your life. What to do varies depending on where you live. For those in high-rise apartments, there are several steps to be prepared during a severe storm. 

    What can I do to prepare for a hurricane? 

    Preparing for a hurricane begins before hurricane season. Don’t wait until the last minute to think about a plan. Follow these tips to prepare your apartment for a hurricane. 

    1. Stay away from windows. Remove all art and mirrors from the walls. Store special mementos in a safe place.
    2. Ensure you have access to emergency updates. If you’re advised to evacuate, and can safely do so, it’s important to follow.
    3. Keep an emergency kit for disasters. In the kit, consider including food and water for a couple days, basic first aid, flashlights, and a backup battery for your phone. 
    4. Sync up with your neighbors. At the onset of hurricane season, ask your neighbors what their plan is in the case of a hurricane. Let them know yours so you can account for each other.

    Where is the safest place to be during a hurricane? 

    Weather conditions are extreme before and after a hurricane makes landfall. Extreme flooding and wind speed up to 140 mph have been associated with many of the worst hurricanes in history. If you live in an apartment, most weather experts advise immediate evacuation during a hurricane. Travel inland, up in elevation, and away from the coast. 

    Intense hurricane strength can cause tornado outbreaks. In 2004, Hurricane Ivan spawned over 100 tornadoes that killed at least 8 people. Though tornadoes are different than hurricanes, you should take similar precautionary steps.

    Unlike hurricanes, tornado warnings can come with as little as 15 minutes notice. Knowing how to stay safe during a tornado will allow you to act fast.  

    Tornado Safety Tips

    1. Check with your apartment to see if they have a community tornado shelter available. If so, that is your best option for ensuring your safety. 
    2. If a shelter is not available, head to the lowest floor. Do not stay in the upper levels of a high-rise. 
    3. Go in the smallest room, like a bathroom or closet, preferably without windows.
    4. To avoid injury from falling or flying debris, squat down in the center of the room. Use a protective shield, like blankets or pillows, to cover your head.  

    Returning Home After A Disaster

    If your apartment is hit by a hurricane or tornado, proceed home with caution. Assess any damage carefully. Be on the lookout for falling debris or loose material. Upon entering, if you smell gas, call 911 immediately. If power is out, use a flashlight, but do not light a candle.  

    Many hurricane-related deaths occur from drowning after the storm has passed. If surrounding streets are flooded, do not proceed. Turn around and return when it’s clear.

    Will renters insurance cover weather damage?

    Consult with your VIAC Miami real estate agent to see if renters insurance is right for you. An insurance policy could cover damage from the effects of disastrous weather. 

    The moment you see an ominous storm on the evening news, make sure your family knows your disaster plan. By taking precautionary steps all year long, you’ll be ready when hurricane season hits.

    Stay informed with safe living tips from the luxury real estate experts at VIAC Miami.

  • Miami Florida Real Estate Picks

    Miami Florida Real Estate Picks

    It’s no wonder that you’ll find some of the coolest places to live in the United States are in Miami. Some of the very best luxury properties are to be found in this desirable location where pleasant climate and excellent amenities meet.

    Miramar

    Miramar is one of the premier locations that you won’t want to overlook when you are sorting through your choices for the best neighborhoods in Miami. Here is where you will find the perfect trifecta of low crime rates, many amenities to choose from and the sunny weather that you want from any of the luxury homes you look at. If you are looking for a modern place to do some shopping, the Marketplace Mall Shopping Center is just one of the many conveniences you’ll find here. The Miramar Cultural Center is also close so you can get and stay connected with local community activities.

    With a population of just over 128,000 people, Miramar is big enough to have a larger city vibe and small enough to mirror a smaller town at the same time. The average monthly temperature for August there is 84° and the lowest monthly temperature comes in February at 68°. Pollution in Miramar is 86% lower than the national average and the air quality Index is 17% better. The median home price in Miramar is $194,000 and that’s 24% higher than the Florida average.

    Bay Harbor Islands

    Bay Harbor Islands should be one of the first places everyone considers when they are trying to decide where to live around Miami. Of course, this location shares an excellent rating for the weather and has many outstanding amenities to choose from. However, one of the big attractions to Bay Harbor Islands and the best luxury villas found there is a very low crime rate. In fact, the total crime rate in this particular area is a full 74% lower than the Florida state average.

    If you’re looking to have an exclusive address, this is the place that should meet that requirement on several levels. The income per capital in this area is a full 56% higher than the national average, and the unemployment rate here is 26% lower than the average for all of America. Still, there’s always the other side to any shiny coin, and you also need to consider that the cost of living in Bay Harbor Islands is 15% higher than both the state and national average. The median home price there is $230,900.

    It’s important to keep in mind when you are looking for the right place that fits your budget and lifestyle in Miami there’s a considerable variation in everything except the good weather. Finding a place that suits you is a question of balancing all the different variables like amenities, crime rate and cost of living.

    Key Biscayne

    When you put all of these various features together, locations like Key Biscayne are clearly at the top of the chart. This is the area with the live ability score of 88, which highlights an exceptionally stable housing market and attractively low crime rate. It should be no surprise that you need to open your wallet if you want to live in this exclusive part of Miami. The median home price in Key Biscayne is $908,000 and that places it a full 482% higher than the Florida average.
    Sixty-nine percent of the people here are married, and a full 61% of those speak Spanish. The poverty level in Key Biscayne is very low at 6.5%, and the unemployment rate is lower than both the national and Florida state average. Finally, the overall crime rate is 45% lower than the average for America.

  • Why Buying Miami Pre-Construction Condos Is a Good Idea

    Why Buying Miami Pre-Construction Condos Is a Good Idea

    There are some great reasons for buying Miami pre-construction condos. Some are all about the aesthetic reasons for wanting to live in this great city that’s always in demand. Other notions have everything to do with the other side of your brain and what a solid financial investment these units make.

    One of the first things to consider is all about the one word that every investor wants to hear and that’s resale. Although it’s not considered good idea to flip any pre-construction condos in Miami you decide to buy, keeping a condo for the entire term before you sell it can be a lucrative method to make your money back and then some.

    If you factor in the fact that it takes up to three years to build one of these condominiums, you’ll see that you have adequate time to get a full return as the unit increases in value. There’s no need to worry about the investment because Miami beach luxury condos are a unique purchase and always in high demand from international buyers.

    Pricing tiers are another reason why you should get in on the ground floor with condominium units that haven’t been built yet. Most developers and construction companies release only a limited amount of inventory so they can make the most of the supply and demand cycle. If you purchase a condominium at one of the initial tier prices, you can lock in at a lower number that will benefit you as prices increase.

    Keep in mind that by getting involved with pre-construction condos in Miami, you also set yourself up with some instant equity because the price goes up as surrounding buildings and neighborhoods undergo transformations. Always try to keep in mind that Miami is an international city, attracting buyers from all over the world and you’ll make the right decision.

  • Find The Perfect Miami Luxury Villa

    Find The Perfect Miami Luxury Villa

    If you’re looking for an exceptional quality of life in one of the most sought-after surroundings on the entire planet, luxury villas for sale in Miami are your preferred destinations. This is the property choice that has exceptional villas by the ocean, places with a canal in your front yard or dock for your boat and a full range of world-class amenities to choose from.

    With an increasing number of well-heeled visitors coming to the Sunshine State every year the number of villa in Miami choices has blossomed as well. However, there are some of these prestigious locations that stand out and Miami Beach is a high priority sought after locale. The choices here offer a variety of amenities and exceptional views of the sun and sea.

    Enormous pools and breathtaking views are just two of the features that you can expect from these prime locations in Miami Beach. Floating decks and dining terraces with bars are standard  for these large luxury villas. Depending upon your personal tastes and your own personal vision, you can include some spectacular architecture in the Spanish Colonial style. Distinctive themes for each and every room should be another one of the features you expect from these luxurious villas in Miami Beach.

    Looking for the design that speaks to your personal tastes is a big part of making the right choice. Spending a little to time to consider what you want in the architecture and surroundings helps to narrow down your options before you start a search.

    Here’s a few things you should be looking for in these large luxurious villas.

    • The ability to keep a modern look and feel while embracing the environment at the same time. When you keep in mind that the Miami climate can be especially hot, you might start looking for a villa that has jetting formations to keep you shaded when you’re outside on the lower floors . These often take the shape of an overhang from top floors and nooks specially built for that purpose.  
    • The structure should embrace indoor and outdoor living. Glass partitions and walls help to create this effect and , if done properly, you should be able to see main indoor living areas from the outside and vice versa. Sliding doors are an excellent way to embrace this scenario . When the weather permits, you’ll be able to leave these open and enjoy a cooling breeze as it goes right through the main floor.

    Marble floors are one of the other common features that separate the mediocre from the stand out villa and as far as architecture goes, French and country decor are often just the thing to help you make the choice appropriate to your tastes.

    The different kinds of combinations you can search for are only limited by your imagination. For example, it’s quite often the case that interior spaces can wrap themselves around an outdoor courtyard in L-shaped formation. This is an excellent spot for the pool and any outdoor entertainment features you want to add.

    The most luxurious Villa Miami offerings will spare no expense and having more than one kitchen at different points through the space isn’t an unneeded extravagance. These are ideal for all the entertaining you’ll likely to do when you have one of these villas at your disposal.

    Taking a few minutes to decide what suits your individual vision for luxury villas for sale in Miami is well worth the time. You may need to adjust the list as you view the properties but it will always provide you with a solid framework to start your search. Don’t forget not to overlook even the smallest detail like cozy reading nook.

  • Tips for Finding Your Dream Home

    Tips for Finding Your Dream Home

    You’re ready to plant your roots and invest in a piece of luxury real estate in Miami where you can raise a family or spend the upcoming years of your life doing as you please. Luxury real estate can come in many forms to different people, some people are looking for a gorgeous home right on the water or on a golf course or even in the middle of a large piece of property to ensure the utmost privacy. Whatever your situation and interests may be, for those with the financial means to live in luxury, there are a few tips to help you find the home of your dreams.

    Know Your Priorities

    Before hiring an agent or even looking at listings, it’s a good idea to list out a some of the top priorities you are looking for in your luxury home. A few things that you may want to consider looking for are a great location for convenience to town or seclusion for privacy, great school district for the children, great views/waterfront, yard space, gated community or security system, home gym/theaters, or studios. Write down the main important features you are looking for in your new luxury home, and this will help the agent you eventually start working with tremendously by taking some of the guesswork out on their part.

    The Importance of a Local Agent with Expertise

    It’s crucial to develop a good relationship with a luxury-buying agent because the high-end home process is slightly different than the rest of the real estate industry. The high-end homes tend to be a bit more restricted and limited concerning open houses and necessary appointments that need to be made. A local agent with experience in luxury homes will know that the process is different. Often luxury homes, especially of higher profile individuals, will not be listed to protect the seller’s privacy, and this is another reason having an agent that specializes in the local luxury market is very important.

    Don’t Judge a Home by the First Few Pictures

    More often than not, large homes are do not show well in photographs. It’s just how it is. If the house sounds good but you are turned off to how the pictures look, it’s recommended that you take the time to investigate a little deeper before turning the page. Search Google Earth to see what’s around the home or even go for a drive to see the home for yourself.

    Miami and the surrounding neighborhoods are filled with luxury homes and estates, covering just about every imaginable price range. These tips are good to keep in mind when you finally decide on making that next big purchase of your life. For more information on Miami luxury real estate visit Viac Luxury Real Estate in Miami Beach.