Tag: best real estate agent

  • LATEST INTERVIEW OF OUR CEO AND FOUNDER, QUENTIN VIAC, FOR MIAMI AGENT MAGAZINE

    LATEST INTERVIEW OF OUR CEO AND FOUNDER, QUENTIN VIAC, FOR MIAMI AGENT MAGAZINE

    Quentin Viac, CEO and Founder of Viac Luxury Real Estate

    Quentin Viac has fostered a team of real estate agents who are eager to learn and happy to serve. As the CEO and and founder of Viac Luxury Real Estate, which has offices in Florida and Michigan, Viac supports both teams and their respective clients, sharing the knowledge he’s acquired through years of training to ensure that every investor, buyer and seller within South Florida and Detroit is satisfied with the end result. 

    In order to grow my business and push my agent to grow, I followed sales, real estate and personal development training and taught my team everything I could” he says. “I am starting to see the benefits now and even experienced real estate agents were able to have a real breakthrough”. 

    With a company comprised of new and experienced agents, Viac maintains a supportive environment where everything from rehab to property management is done in-house.
    Viac is playing an active role in the expansion of his Detroit business, visiting the office every other week, investing time and money into the team’s success by onboarding the right employees, and finding the best houses.
    We have come a long way”, he says. “We started three houses, and now we have over 100 and are still growing. It was very challenging, but I never stopped believing in it”.
    Viac’s Miami office is equal parts real estate agency and art gallery, showcasing pieces from a gallery in Milan. It was also the first real estate company to get a booth at the Miami Yatch Show, where the team demonstrated a virtual reality tour developed in conjunction with the architect of Missoni Baia.
    Viac is a member of the Miami Association of Realtors and the French-American Chamber of Commerce of Florida. He supports the Jessica June Child Cancer Foundation and LightHouse for the Blind and Visually Impaired. 

  • MEET OUR NEW AGENT LORI L. PREPSZENT

    MEET OUR NEW AGENT LORI L. PREPSZENT

    “I have come a long way from CT and now spent half of my life in Miami and working in the challenging yet for very rewarding real estate market assisting buyers and sellers and renters for the past 15 years. I’m hardworking, energetic, positive and I enjoy my current profession helping people make their dreams a reality and promote health and wellness, laughter, a bit of partying, dancing and future hot yoga teacher!”

    Welcome to the team Lori!

    VIAC Luxury Real Estate

  • Housing: Then, Now, and Future

    Housing: Then, Now, and Future

    Houses have changed a lot over the last three hundred years. Availability of construction materials, development of indoor plumbing and heating systems, advances in architecture, governmental incentives, technology, family size, and a general rise in living standards are a few of the factors that have played a role in the evolution of our homes. These changes have, in turn, changed and shaped family and social relationships. More personal privacy and space have become a reality.

    The first North American homes were very small, one room, one-storey structures that were based on European building techniques, and adapted to the building materials, climatic conditions, and topography of the New World. The majority of these structures had less than 450 square feet of space but were eventually remodeled and enlarged over time. Through the middle years of the 18th century, older houses everywhere were added to and vigorously remodeled, with room heights rising a foot or more. Parlors were added to the homes of well-off farmers and another gentry.

    Some large homes did exist in the 1800s. Ranging between 2200 and 2800 square feet, or about the size of a good-sized suburban home today.

    19th Century

    In cities, small row houses went up in great numbers in the first half of the century. Virtually all of them had parlors. The average urban row house was narrow, usually only 15-20 feet across, and extending back for 30-40 feet. With mounting pressure for effective land utilization, row houses became more narrow and deeper over time. For example, two 25 foot lots were divided into three.

    During the 19th century, different functions of the house were compartmentalized into separate areas. Public and private rooms were kept apart. As with most other rooms, the bedroom was largely an invention of the late 18th and early 19th centuries. Until then, all but the most privileged colonists lived in one or two rooms, and beds stood throughout their homes when not in use.

    Twentieth Century

    Lot sizes began to grow after the turn of the century. Early 20th century bungalows were one-storey or storey and a half dwellings of between 600 and 800 square feet. In most new houses of the early twentieth century, square footage was drastically reduced to compensate for the increased expenses of plumbing, heating, and other new technological improvements. Housing studies also attribute the reduced square footage to a decline in domestic production of goods. There was no longer any reason to have storage places for things such as home-canned fruit and vegetables, dowry linens, and supplies for making the family’s clothes and bedding. People were no longer producers, but consumers.

    Bungalows in the 1940s had lots measuring 60 by 100 feet.

    Electricity and central heating were the domestic amenities that altered floor plans and furniture placement (Volz).These improvements had important effects on domestic social relations, and, in particular, access to personal space and privacy. Older heating and lighting technologies restricted the use of space in the home, drawing household members into each other’s company in the process.

    The physical size of homes continued to grow, as household size was shrinking. The rise of suburbia came about because of high rents, high crime rates, and urban core decay in cities; an abundance of cheap land in the country; a proliferation of cars; and government incentives. All made home-ownership very popular. Houses were also getting bigger. The small house was on the decline throughout most of the century, while the number of people living in a household decreased by 50% in the years between 1881-1991 (Ward). Room space + less people = more privacy.

    We’ve gone from having no bedrooms to having many. The middle-class bedroom has become an ever more private place, with its own television, bathroom, and telephone. The master suite has become a self-contained apartment; some even have small fridges and coffee machines. Many middle-class parents have established an unprecedented barrier that keeps their children separate from them. Similarly, the kids have done the same, and also have their own personal pads. Since the 1960s, the number of larger homes has increased, while the average number of household residents has shrunk quite dramatically. One result is that children commonly have a bedroom each. Most regard this reality an entitlement, not a privilege. The rooms themselves offer a separate place for schoolwork and often include radios, televisions, computers, and telephones, which historically have only been available centrally within homes.

    The novelty of our age is that how we use the space in our homes is continually evolving. And, as we transform these spaces, they transform us. These transformations are the result of demographic, economic, lifestyle, environmental, and technological changes and pressures. Home offices and media rooms are new spaces, while old spaces like living rooms are now being used as computer rooms. Video entertainment, games, computers, and the Internet serve to isolate, and also demand more personal space, separating us from the people we live with.

    Homes are divided into a series of private zones for individual use, and as family members, we share fewer activities. The average new house has expanded in size from about 1500 square feet in the mid-70s to over 2000 (Friedman and Krawitz). People want more space. Family homes have grown by 1/3 in size over the last twenty years. Sizes of average lots are decreasing, as sizes of homes are increasing. The median size for a new single family home in 2003 was about 2300 square feet (National Association of Home Builders). Family size has decreased almost 25% over 30 years, while the size of new houses has increased about 50%.

    It comes as no surprise that houses have grown in size and cost over the years. At the beginning of the last century, the average home was 700 to 1200 square feet. In 1950, the average home was 1000 square feet, growing to an average size of 2000 square feet in 2000. Costs in 1900 were about $5000; $11000 in 1950; and $200,000 last year. An interesting fact revealed in a National Association of Home Builders (NAHB) report is that although homes have grown in size, lot sizes have begun to significantly decrease in size. In 1990, the average lot size was 14,680 square feet. Just eight years later, the average lot size was 12,870. In its profile of a typical new home in 2010, the report suggests that the average lot size will shrink by another 1000 square feet while house size will increase to 2200 or more square feet.

    The new home profile also anticipates more mixed-use communities, neo-traditional designs, and neighborhoods with smaller lots and narrower streets. New communities will also offer more diverse architectural designs. 21st century neighborhoods will be more diverse while maintaining high-quality design standards. They will integrate live/work houses, commercial centers, and be close in proximity to amenities and services.

    Larger homes on smaller lots will be one of many design challenges affecting new home construction in the years and decades to come. When height restrictions are not too strict, the solution is to go up and down. Homeowners could carve out more livable space, which has previously been delegated to storage in basements and attics.

    The Future

    Buyers seem to share one thing in common: most want more living space. The median size of the respondents’ current homes was 1,770 square feet. How much space did they really want? The median response was 2,071 square feet.

    How much land do you need for bigger homes? Less than you might think. In 1976, the median lot size of new homes was 10,125 square feet. Last year, that median size had slipped to 8,750 square feet. While lot size is on the decline, the desire for bigger homes is rising. Homebuyers want one-story homes, but builders have been responding to the demand for more living space by building more two-story homes. More stories mean an expansion of interior space without increasing a home’s footprint and the amount of land it uses. This has become more important as land becomes less available and more costly in many metro areas.

    To know what will happen to housing in the next 300 years is difficult because we just don’t know how technology, culture, environmental changes, and social relationships will evolve and change how we use our homes. One thing is certain: land will be at a premium and expensive. The other certainty is that the population will continue to skyrocket and there just won’t be space for everyone to have large lot sizes for their homes. The other big unknown is energy sources and supplies.

    SOURCE

  • Capitalizing on the shifting real estate markets: Look for opportunities — and always network

    Capitalizing on the shifting real estate markets: Look for opportunities — and always network

    In recent months, there has been a lot of discussion about the oversupply of luxury condos in Miami-Dade County, triggering developers to put some projects on hold. The strong dollar and struggling economies abroad, particularly in Latin America, have caused foreign buyers and investors to tighten their purse strings.

    As a general contractor who started SPACiO Design Build during the last recession, I have learned to look ahead — past current trends — and adapt my business model to not only mitigate the impact of a market correction but also to take advantage of Miami’s fast-changing real estate market. This is a challenge that most businesses in the real estate industry — and in many other sectors — have to wrestle with.

    We started our business at the time when unsold condos in the Brickell area in the last cycle were being converted to rental units, as buyers had exited the market. When many people were seeing doom and gloom, we looked for opportunities amid a paralyzed real estate market. While we were able to grow the company with that business model, we knew we had to keep our eyes open looking for the next trends as the housing market was rapidly recovering. We began to see starchitects, high-end fashion designers, and exclusive brands — unlike in past cycles — descend upon Miami to stand behind some of the region’s most ultra-luxury condo developments.

    Starchitects like Bjarke Ingles, Herzog & de Meuron and luxury brands such as Armani, Fendi, and Porsche have entered the South Florida market to design and develop grandiose projects, attracting some of the world’s wealthiest people to buy a home in Miami. So, we decided to develop a niche in the marketplace, building out complex projects that required a high level of craftsmanship to match the new level of sophistication that the Miami architecture was beginning to experience.

    In this cycle, building and unit designs became more elaborate and complex, transforming the way space is built out. The introduction of imported design-driven materials required SPACiO to invest in artisans that could turn the visions of these renowned designers and architects into reality. So, when the residential market was active, we focused on building out highly sophisticated projects like the Residences at Armani Casa sales center in Sunny Isles Beach and decorator-ready condos in newly built towers such as the Grove at Grand Bay, Oceana Bal Harbor and SLS Brickell.

    But what the recession taught us the most was not to put all our eggs in one basket. We learned to diversify our operations to include high-end commercial spaces, from hotels to restaurants and luxury retail stores.

    Part of the process was transferring skills we had developed in the residential market but, part of it required teaching our staff new skills. The goal was to prepare our company to stay busy when the condo construction market slowed down. A significant part of our jobs comes from individual condo buyers who buy decorator-ready condos in recently completed luxury high-rises. As we started diversifying our portfolio to include commercial properties, we’ve turned our attention to building out hotels and restaurants, such as Nobu Restaurant, Nobu Hotel, Marriott Stanton South Beach and others.

    Business owners who focus on cyclical industries, like the condo market, have to find the time to boost their networking efforts at the first signs of a market slowdown.It is important not only to develop new relationships but more importantly, to leverage the past and current connections. As times get harder, most likely, it will be your connections that will help you with referrals and new business. A majority of our clients have become my friends, and it was them who helped me launch my businesses at the height of the last recession. Investing time to grow your relationships now will pay dividends when the market loses steam. Staying top-of-mind with your clients starts now, not in six months or a year, when the market has turned.

    People always say that change is the one thing that you can count on.

    That statement couldn’t be, and that statement couldn’t be more true to describe Miami’s real estate market and many other cyclical sectors such as tourism and hospitality. It’s up to the small business owner to seek out and capitalize on the opportunities that arise in each stage of the cycle.

     

    SOURCE

  • Why Miami Real Estate investment

    Why Miami Real Estate investment

    Miami Real Estate Investment

    More and more people are turning to rental properties in Miami as a way to diversify their investments and generate steady cash flow in the future. And why not? There are serious benefits of investing in Miami real estate. First, however, it’s important to understand the key advantages of investing in properties in the first place.

    Miami Real Estate Investment – Why Rental Properties?

    There are several factors driving the trend in investing in rental properties and condos in Miami.

    • Many people are not reaping the benefits they thought they would from Certificates of Deposit and other savings accounts.
    • Despite we are not financial advisors low-interest rates have made people cautious of inflation in the future, pushing them away from the bond market. They turn to commodities like real estate which protect them from inflation.
    • People are diversifying their investments.
    • Low-interest rates and condo prices create interest in rental property investing.
    • Miami Real Estate appreciation.

    Now that you understand why so many people are turning to Miami real estate investments, you need to know whether a potential property is worth the investment.

    When determining whether or not a home or condo for sale in Miami is worth investing in, keep in mind these two key formulas:

    Miami Real Estate Investment – The Cap Rate

    The first formula involves calculating the cap rate. If you bought the house in cash, this is the rate of return you would make.

    What is the Cap Rate?

    The cap rate, also known as capitalization rate, is net income divided by current market value.

    Here’s an example:

    • Cost of condo or home = $200,000
    • You rent it out for $1,500/month
    • Average monthly expenses = $500 You spend an average $500/month on expenses (taxes, repairs, maintenance, etc.)
    • Net operating income = $1,000/month, or $12,000/year
    • Cap rate = $12,000/$200,000 = .06 or 6 percent

    Whether or not the 6 percent is worth the investment is up to you to decide. If you find a property in a Miami neighborhood with high-quality tenants, then it might be worth it. On the other hand, if the property is in a not-so-good neighborhood, then 6 percent may not be a great return on your investment.

    Miami Real Estate Investment – The One Percent Rule

    When evaluating a rental property in Miami, the general rule of thumb to go by is this: If the gross monthly rent equals at least one percent of the purchase price, you should look further into the property investment. If not, keep searching for better options.

    Here’s an example:

    If you purchase a condo for $200,000, it would need to rent for $2,000/month. If not, the one percent rule has not been met.

    According to the one percent rule, the property should bring in gross revenue of 12 percent of the purchase price each year. After expenses, the net revenue should equal between 6 and 8 percent of purchase price.

    In general, this is a good return on investment. However, it is important to take into consideration the neighborhood you are investing in. If the property is in a nicer neighborhood, there is likely a lower return; similarly, more questionable neighborhoods often have higher returns.

    Don’t Forget This One Last Thing

    Finally, no matter what percent you are gaining in ROI off of your Miami property investment means very little if the interest is not compounding. Well, what is compound interest?

     

    How does compound interest work and what does it mean for property investment?

    Compound interest is interest that is generated by your principal plus its interest.

    For example, if you invest $100 in the stock market, at the end of the year it will have gained $10 in interest, to equal $110 total.

    At the end of the second year, the interest has grown by another $11, for a total of $121.

    In summary, the extra $1 the second year earned represents the interest that compounded on top of your interest. Each year, the interest will compound on top of the previous interest, which becomes very powerful after 10, 20, 30 years. In order to reap the same of compound interest on your Miami Real Estate investment, you should reinvest the all of the proceeds so that your returns will compound upon themselves.

     

    SOURCE

  • VIAC is your go-to Luxury Broker

    VIAC is your go-to Luxury Broker

    VIAC offers the world’s most dedicated team of luxury brokers for global luxury housing. VIAC’s expertise spans the globe, from Miami to Loire. The team focuses not just on luxury purchases, but a luxury lifestyle and buying experience. Enjoy every step of the way, learning from a carefully curated group of agents who know exactly how to find for what you are looking.

    Miami real estate is amongst the most lucrative markets. The market is stable and secure, ensuring that buyers are making sound investments. Miami boasts all that there is to the idea of luxury- perfect weather, blue skies, and ocean breezes, dazzling nightlife, chic shopping and dining, an internationally diverse population.

    VIAC has properties in Miami that are rich in architectural history, artistic design and chic interiors. The selection is vast, and each property is as enchanting as the next. VIAC can you show you properties all around the world to give you an idea of possibilities that help narrow down your priorities and interests.

    Whether searching for condos in Miami or luxury villas, VIAC offers the best real estate luxury broker experience. When you are ready to start shopping for your luxury life, get in touch with the VIAC team.