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Canadians are cashing in on the Miami condo market

Predicting the bottom of a real estate cycle can be tricky, but Canadian investors who bought into the Miami condominium market last year may have done just that. And the rewards have been huge.

The median sales condo price has increased by 46% in March compared to a year earlier, according to the Miami Association of Realtors. The median condo price was $141,700. Single family homes increased 13% to $180,000.

Miami has been a haven for international buyers recently, most of whom pay all cash to swoop of up properties in the Florida city. About 65% of property sales in the last quarter were all cash buyers in Miami, compared to 32% nationally.

“This recovery is particularly encouraging for the Miami real estate market because it happened sooner than predicted,” said a press release out Thursday from Luis Iglesias Realty. “This trend is likely to continue, as more and more buyers and investors show continued interest in Miami properties.”

Statewide numbers for March were also impressive, although favoring single family homes more than in Miami. In March, the average sales price in Florida increased 21% to $105,000 for condos and 10.3% to $139,000 for single family homes, according to the Florida Realtors Industry Data and Analysis Department.

“The fact that Miami home prices have significantly increased for four consecutive months indicates prices have bottomed and have caught up with sales levels,” said Martha Pomares, chairwoman of the board of Miami Association of Realtors.

Donald Trump, county official propose film studio “city” in Homestead

Donald Trump is proposing to build a television and film studio on 800 acres in south Miami-Dade County.


The proposal was introduced by County Commission Chairman Joe Martinez during a meeting on Tuesday.


"If this project should become a reality, it would be the largest studio in the world, and the most technologically advanced studio in the world," Michael Cohen, executive vice president and speical counsel to Donald Trump, told NBC 6.


Trump was not at the meeting, but Cohen told officials that the proposed "Trump Studio City," would create thousands of jobs and would be bigger than Universal Studios, The Miami Herald reported.


The studio would be partly built on land that is owned by the county but was part of a failed effort to build a commercial airport in Homestead.


The commissioners agreed to a 90-day moratorium to discuss the project going forward with Trump. 


They agreed to not lease, sell and encumber the property for that period.


"Why can't we have a studio to rival, beat anything that's in Europe, anything that's in Hollywood? And we can," Martinez told NBC 6.


Martinez said he and Trump sat down to discuss the plan after Trump said he was buying the Doral Golf Resort and Spa. He added that there are still some issues like whether any of the land is contaminated and who exactly owns the land.


"It's something we need to look at. Sometimes you have to be a trailblazer," Miami-Dade Mayor Carlos Gimenez told the newspaper.


Gimenez and Martinez are opponents in the August elections.

Setai condo sells for $7.2 million, almost $3,000 per square foot

A 2,521-square-foot condominium at the Setai South Beach has sold for $7.2 million, according to Esslinger Wooten Maxwell. The sale worked out to an average price of $2,856 per square foot, one of the highest average prices yet for a Setai unit. Last year, the Setai saw one of the largest condo sales in Miami of all time, when a penthouse unit sold for $21.5 million. “Sales in the Setai have been outstanding — a reflection of what’s happening across South Florida in terms of high-end residential real estate transactions,” said EWM’s Lourdes Gutierrez, who represented the buyer in the deal. EWM is the exclusive affiliate of Christie’s International Real Estate in Miami-Dade and Broward counties. — Alexander Britell

A 5,803-square-foot penthouse unit at the Setai South Beach has closed a
$21.5 million sale. The home, which was first purchased by Netscape
founder Jim Clark in 2004 for $9 million, was sold to a private
businessperson. The previous high sale at the Setai was a lower
penthouse that sold for $15 million last year. The deal was brokered by
One Sotheby’s International Realty agent Eloy Carmenate. “Miami is emerging as a super luxury market,” said One Sotheby’s
President Beth Butler. “This marks the fourth sale this year in excess
of $20 million and is a new high for a condo sale.”

This Month in Real Estate

Celebrity Home: “Scarface” Mansion for Sale

42 Star Island Drive, Miami Beach FL 33139

“Say hello to my little friend!”

Tony Montana's house on Star Island is up for sale! This is the 8 bedroom 7 bath mansion located right next door to Rosie O' Donnell. Other neighbors include P. Diddy, Gloria Estefan and Naomi Campbell and her billionaire boyfriend, Vladislav Doronin. This is the first time the mansion, made famous by the 1983 film starring Al Pacino, has been listed since it was purchased by its current owner in 1978. The magnificent home will be in auction on the next 06/25/2012.

 It awaits the right person to restore some of these wonderful classic features. The property boasts an 8 ton boat lift with 4 boat slips, and a top of the line security system, with cameras all around the property.

 Star Island is home to the rich and famous!

Property Features:

Pictures: http://doiop.com/42starislanddr

Video 1: http://www.youtube.com/watch?v=dZgkbXoyxVI

Video 2: http://www.youtube.com/watch?v=-4GsCEopbd4

· Price: $12,500,000

· Status: For Sale

· 8 Bedrooms

· 7 Bathrooms

· 8,117 Sq. Ft.

· Single-Family Home

· Built In 1925

· Skylight

· Central Air Conditioning

· WaterView

· Fireplace

· Elevator

· Shutters

· Marble and Wood Floors

· Private Dock

· Ocean Acess

· Sea Wall

Comparables:

RE1 8-Photo View w/ Tax

Location:

BEACH HOUSE GOING TO AUCTION (WITHOUT RESTRICTION) UNIQUE OPPORTUNITY

2308 Bay Drive - Hillsboro Shores, FL 33062 

(Between Boca Raton (7 Min) and Fort Lauderdale (15 Min)  

See photos and two videos from YouTube below. I sow this house already and is 100% Wonderful.

Pictures:  www.doiop.com/2308baydr - 50 pictures

Video 1: http://www.youtube.com/watch?v=abJfIUAQMns– 4 Min

Video 2: http://www.youtube.com/watchv=wpERZpjXiDo&feature=youtube_gdata 2:30 Min

This house is one of the Miami Heat players Michael Miller and goes to auction and I'm already registered, and I wonder if you could help me and see if any of your friends (or yourself lol) would not be interested. - It was sold for $ 12,000,000 (Twelve million dollars) 05/02/07 auction and the buyer may be able to buy at an exceptional price.

comparable:

http://sef.mlxchange.com/DotNet/Pub/EmailView.aspx?r=251277575&s=SEF&t=SEF

 SEE MORE INFO BELLOW :

Luxury Auction – Water Front Properties- Miami/ Fort Lauderdale/ Palm Beach-FL-USA

Leiloes de Casa de Luxos- Miami/ Fort Lauderdale/ Palm Beach –FL- USA

PROPERTY FEATURES SUMMARY

- 9,000 square / feet of luxuriousinterior living space.

- 9.000 Pés / quadrados de espaço( 819 m2 )

- 2,700 square feet of finished outdoor living area,

-Total de aproximadamente 11.700 pés quadrados. (1065 m2)

-Total of approximately 11,700 square feet.

- 2.700 Pés (245 m2) / quadrados de área construída ( Varanda , Garagens etc)

-Total Bedrooms: 6

-6 Quartos Suítes.

-Total Baths: 8 full and 1/2 half

- 8 banhos e 1 lavabo.

-Parking: 4-car garage; additional space in driveway

- Estacionamento: 4-carro na garagem, Espaço adicional na frente da casa e calçada.

Unique Features:

➢ Ownership of “private beach” parcel-

-Praia privada.

➢Marble dock of approximately 100 feet in length -Doca Marina.

➢ Resort-style pool with swim-up bar, pool shelf, and Jacuzzi tub with gas powered fire pits.

-Piscina Estilo Resort com bar integrado / Banheira Aquecida de hidromassagem/ Fogueiras a Gás

➢ Elevator for all 3 Floors- with custom woodwork

- Elevador nos 3 Andares com madeira personalizado

➢ 5 Kitchens…

- 5 Cozinhas – 2 Completas, 1 Bar dentro da casa, 1 Churrasqueira, 1 no bar da piscina.

➢ 2 Gourmet kitchens, on main level, and Guest with Dutch-made handcrafted

➢ 3 summer kitchens (one as part of the swim-up pool bar & grill, the other as part of the standalone summer kitchen/lounge with waterfalls and flat screen television)

➢ Sub-Zero refrigerators, Wolf 6-burner gas ranges and dual ovens

-Geladeiras Sub-Zero, Fogão com 6 bocas de gás e fornos duplos

➢ Home theater/media lounge with projection screen television

- Home theater / Bar mídia com televisão de tela de projeção

➢ Security system

- Sistema de Segurança.

➢ 12-foot mahogany doors

- Portas de mogno de 3,70 metros.

➢ Large “his” and “her” walk-in closets

-Quarto de Casal com 2 enormes walk-in closets (Armários)

➢ Cabinetry, Spanish pattern Mexican tile floor

- Armários de madeira nobre espanhol

➢ Crème Marfim marble floors with intricate inlays

- pisos de mármore de Creme Marfim com incrustações.

➢ Carved marble ceilings; handcrafted coffered ceilings made with exotic wood

- Tetos esculpido em mármore; artesanais tetos em caixotão feitos com madeira exótica

➢ Venetian plastered walls; custom painted details

- Paredes em pinturaespecial com aparência de granito.

➢ Palatial, 2-story marble and mahogany fireplace

- Lareira de mogno palaciana, de mármore de 2 andares.

➢ Crestron system with digital wall panels, powering audio/video throughout Property

-Sistema Crestron com painéis digitais de parede, que alimentam de (áudio / vídeo) ao redor da propriedade.

➢ Glass-walled wine/cigar room (climate-controlled with ventilation system)

- Adega com de vidro / Área para fumantes (clima-controlado com sistema de ventilação).

➢ Glass, see-through floor panels with privacy control, overlooking pool area

- Painéis no piso de vidro com vista para área da piscina.

➢ Master bedroom wing with “his” and “her”bathrooms and breakfast bar

-Quarto de Casal com 2 enormes walk-in closets (Armários) e bar.

➢ Dark wood flooring in bedrooms

- Piso de madeira escura nos quartos.

➢ Mahogany-paneled library with marble-faced fireplace and executive desk

- Biblioteca com painéis de mogno com lareira de mármore e escritório executivo