If you are on vacation with family, it is obvious that you would like to stay in a place where you will get all the comforts and facilities that only a home can provide. If you have pets at home you would definitely like to take along your pet as well. In such a scenario, serviced apartments will be a good option. Not only are serviced apartments pets friendly, they also offer all the modern amenities along with fully equipped kitchens with self-catering facilities, single and double bedrooms, lounge area with pullout beds or single beds and attached toilets. Staying in serviced apartments will give you the complete freedom to cook and manage things on your own without anybody else’s interference. You will feel completely at home and will enjoy your stay. Serviced apartments will also take care of your headache of locating good apartments as serviced apartments are found in any part of the world with lots of choices to choose from. They are more budget-friendly thereby giving you and your family a chance to explore more tourist destinations within your budget. The advantage of staying in serviced apartments is that it gives you the lifetime opportunity to embrace and experience the culture of the place.

However, if you are on a vacation with friends or have come for a business trip, you may like to experience a completely different ambience from home. If you have the budget and the luxury to afford, seize the opportunity to pamper yourself by staying in luxury apartments. Get yourself a royal treatment with hotel staffs serving you everything from bed tea to room service. Enjoy the splendour of the luxurious and spacious rooms which are fully furnished with the latest state of the art technology. With luxury apartments providing world class amenities including Internet access, 24 hour room service, 24 hour concierge service, laundry service, business centre, etc, your stay is something which you will cherish for a long time. While looking for luxury apartments, select your apartments with close proximity to shopping centers, museums, clubs, theatres, restaurants, and business centers if you are business executive, so that you can make the most of your stay without having to waste much of your time in traveling. In luxury apartments, you will absolutely feel as if you are on vacation away from the mundane and daily routine of life. At least from some period of time you can completely relax and remain tension free from worries of life during your stay.

Depending upon the kind of your trip, budget and personality, you can determine which apartments suit you the best. If you are homely type who loves the comforts and coziness of home and want the same atmosphere of home away from home even when you are away from home, then serviced apartments is the best bet. You cannot ask for more. But if you are one of those who are adventurous and want changes, opt for luxury apartments, which will open the doors to experience new things in life. Take your pick, finally choice is yours!!

Source: Free Articles

About the Author

The Author is a contributing writer to the website http://www.apartotels.com Apartotels is operating over more than 3000 serviced apartments & luxury apartments within Europe.For more information, please visit: http://www.Apartotels.comPhone: +44 20 8680 3001Fax: +44 20 8603 7321 E-mail: admin@apartotels.com

• As of late July, there are 450 units for sale between $500K and $1.1M
• As of late July, there are 209 units for sale between $1.1M and $2.1M
• As of late July, there are 111 units for sale between $2.1M and $5M
• As of late July, there are 43 units for sale over $5M

I've received many inquiries about CONTINUUM II since its opening, so far there have been nine closed sales and one pending sale as recorded on the Multiple Listing Service. This is a significant slowdown in sales activity, especially comparing the re-sales activity that took place with Continuum - South Tower a few years ago. However, the latest sales have been averaging well over $1,000/s.f. for higher floor units. Currently there are 46 condos for being offered for sale at Continuum 2

ARE YOU SERIOUS ABOUT SELLING? - If you own a condo or a single family home (especially those on the water), and have had trouble selling, please call us for a free market analysis. I believe in telling it "straight" to clients (or potential clients), as wishful thinking will not carry the day in this real estate environment.

Once again, the market has shown that it rewards sellers who work with experienced, knowledgeable, detail-oriented, and top producing real estate salespeople. Thanks to aggressive and creative targeted International Marketing Campaigns, we have sold ALMOST our entire Residential listing inventory from the first half of 2008.

Foreclosure scammers often keep any eye out for public foreclosure notices and then drop business cards or even handwritten notes in the homeowner’s mailbox asking to be contacted. Upon the initial meeting, a scammer will promise the homeowner peace of mind and they will also sell the home back to the homeowner eventually. They will also suggest that all contact with a lender is cut off. Eventually the scammer or “rescuer” will set the rent much too high for the original homeowner to afford which essentially forces them out of their home altogether due to delinquency. The homeowner still owes mortgage payments but is now without a place to live.

The first method of knowing whether someone is legit and is actually looking to help you keep your Miami Beach home is when they request that contact with a lender is ceased. If foreclosure might happen, it’s imperative that the homeowner stay in contact as much as possible with the lender in order to try and reach a mutually agreeable solution at all times. With that in mind, any request for payments by a third party should also be a cause of concern. All payments should be made exclusively to the lender and no one else.

A scam can usually be “sniffed out” by the average homeowner but desperate times can sometimes cloud judgment. If a homeowner becomes a victim, there are legal routes to use but they can become a headache. Usually, simply taking the time to contact a lender before delinquency becomes a problem can lead to a payment schedule or loan term adjustment that the homeowner can agree with.

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In the landed sector, demand for GCBs remains strong, says CBRE

(SINGAPORE) The high-end residential sector has been largely subdued in 2008, but at least 50 luxury apartments costing above $10 million each have been sold so far this year. And the tally for the full year, according to property consultant CB Richard Ellis (CBRE), is expected to come in at about 70 to 100 units.

This will be lower than the 139 such units sold for the whole of 2007, but still significantly higher than the 2006 full-year figure of 23 units, CBRE's research shows.

Putting things in perspective, CBRE Singapore's managing director Pauline Goh says: 'One point to note is that luxury home prices in 2006 were lower than in 2007. Hence, fewer units would have touched the $10 million mark back in 2006. There was also a smaller supply of upscale developments with big units back then compared with 2007 and H1 2008.'

The 50-odd luxury apartments costing above $10 million each sold so far this year are the tally at June 17 and include not just units sold at Nassim Park Residences, which was previewed in May, but also a unit each transacted at Cliveden at Grange, The Tomlinson, The Grange and The Orange Grove condos.

BT understands that the highest-priced transaction so far this year is a $19.7 million ground-floor unit sold at Nassim Park Residences.

In the landed sector, a total of 23 Good Class Bungalows (GCBs) have changed hands so far this year for a total of $380 million.

'We're quite confident that at least 50 to 60 GCBs will be sold for the whole of 2008. Demand will continue to be strong from Singaporeans as well as PRs, but deals are limited by availability of GCB stock,' Ms Goh predicts.

Last year, a total of 87 GCB deals totalling $1.15 billion were sealed, against the record 119 transactions worth $1.23 billion in 2006.

As for the outlook for luxury apartment sales, Ms Goh says: 'Singapore has a lot going for it; the government has put in so much effort to build Singapore into a global city. We'll have the integrated resorts, special events like Youth Olympic Games and F1 night race. Singapore is on the radar screens of a lot of international investors. However, the flow of bad news from the US has to stabilise before confidence returns.

'On the other hand, as Nassim Park Residences shows, if the product is right, there can be very, very strong demand. The project is in a very niche location; arguably the best luxury location in Singapore.'

Market watchers say the volume of transactions for apartments costing more than $10 million for the rest of 2008 will depend partly on when developers release new prime-district condos and their strategy on the mix of unit sizes.

Developers have tended to veer towards bigger units in the past couple of years but some analysts say some developers are now considering changing tack for upcoming projects. These developers are wondering whether it will make more sense now to have a higher proportion of smaller units - given weaker sentiment.

'The idea is to make the absolute price quantums smaller, say $3-5 million per apartment, which will mean a bigger pool of buyers, compared with having a lot of biggish units in a project costing, say, above $10 million,' an analyst says.

Source: Business Times

In the landed sector, demand for GCBs remains strong, says CBRE

(SINGAPORE) The high-end residential sector has been largely subdued in 2008, but at least 50 luxury apartments costing above $10 million each have been sold so far this year. And the tally for the full year, according to property consultant CB Richard Ellis (CBRE), is expected to come in at about 70 to 100 units.

This will be lower than the 139 such units sold for the whole of 2007, but still significantly higher than the 2006 full-year figure of 23 units, CBRE's research shows.

Putting things in perspective, CBRE Singapore's managing director Pauline Goh says: 'One point to note is that luxury home prices in 2006 were lower than in 2007. Hence, fewer units would have touched the $10 million mark back in 2006. There was also a smaller supply of upscale developments with big units back then compared with 2007 and H1 2008.'

The 50-odd luxury apartments costing above $10 million each sold so far this year are the tally at June 17 and include not just units sold at Nassim Park Residences, which was previewed in May, but also a unit each transacted at Cliveden at Grange, The Tomlinson, The Grange and The Orange Grove condos.

BT understands that the highest-priced transaction so far this year is a $19.7 million ground-floor unit sold at Nassim Park Residences.

In the landed sector, a total of 23 Good Class Bungalows (GCBs) have changed hands so far this year for a total of $380 million.

'We're quite confident that at least 50 to 60 GCBs will be sold for the whole of 2008. Demand will continue to be strong from Singaporeans as well as PRs, but deals are limited by availability of GCB stock,' Ms Goh predicts.

Last year, a total of 87 GCB deals totalling $1.15 billion were sealed, against the record 119 transactions worth $1.23 billion in 2006.

As for the outlook for luxury apartment sales, Ms Goh says: 'Singapore has a lot going for it; the government has put in so much effort to build Singapore into a global city. We'll have the integrated resorts, special events like Youth Olympic Games and F1 night race. Singapore is on the radar screens of a lot of international investors. However, the flow of bad news from the US has to stabilise before confidence returns.

'On the other hand, as Nassim Park Residences shows, if the product is right, there can be very, very strong demand. The project is in a very niche location; arguably the best luxury location in Singapore.'

Market watchers say the volume of transactions for apartments costing more than $10 million for the rest of 2008 will depend partly on when developers release new prime-district condos and their strategy on the mix of unit sizes.

Developers have tended to veer towards bigger units in the past couple of years but some analysts say some developers are now considering changing tack for upcoming projects. These developers are wondering whether it will make more sense now to have a higher proportion of smaller units - given weaker sentiment.

'The idea is to make the absolute price quantums smaller, say $3-5 million per apartment, which will mean a bigger pool of buyers, compared with having a lot of biggish units in a project costing, say, above $10 million,' an analyst says.

Source: Business Times

Rent money is taxable. Renting a home works the same way as if you were selling goods and services to a consumer which may therefore require that you report this income once tax season rolls around. On another note, make sure your homeowner’s insurance covers rentals in case of unforeseen damages to the property or even the tenant.

Be ready for anything. People tend to be quite lawsuit happy in this country and with renting, there’s always that risk that a tenant might sue you because they don’t like the rent you’re charging or some other matter so strongly consider hiring a property manager who knows what you can charge as well as a lawyer who knows about rental properties.

Don’t rent to just anyone. Remember that the tenant who you say “yes” to will be living in this property you’ve likely invested lots of money in so take the necessary precautions (references, credit check, etc) to try and make sure that they not only have a high degree of cleanliness but that they’re not a financial liability waiting to happen.

Treat the home as if you were living there. You own the property and there’s a good chance you’re going to sell it once real estate picks up again so take care of the necessary repairs and duties to keep it looking nice and you’ll also have much happier tenants.

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Chiedi informazioni

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Although one person is looking for more and the other is seeking less, there is a mutual goal: agreeing on a suitable price. While the seller has their own research to do, buyers should do a little bit of problem solving homework before putting an offer on the table.

Owning Miami Beach oceanfront condos often gives owners a sense of entitlement, especially when it comes to determining how much they can ask for it when it’s time to sell. A couple of years ago, an inflated price would be okay but it’s a different climate. If a seller’s initial asking price seems ridiculous, chances are other buyers feel the same so allow some time for the price to come down but do make sure the seller is aware of your interest. Assuming you’re using the services of a real estate agent, they can do this on your behalf and act as the intermediary once the price is reduced to something more agreeable.

The less fellow buyers involved, the better your chances of throwing out competitive numbers to achieve your ideal price. Refrain from giving the exact price you’re aiming for. Instead raise or lower or the amount in order to allow yourself room to bargain without having to sacrifice too much which simultaneously allows the seller to feel as if they’re getting something out of the deal.

If someone else has offered a price you know you can’t match, all hope is not lost. Sellers appreciate it when buyers choose to take on additional costs normally the responsibility of the seller so if you can pay for some of these, there is a very good chance a seller will accept your slightly higher proposal over someone else who offered less.

At the Jackie Gleason Theater, none other than political satirist Bill Maher brings his signature brand of often controversial humor to the venue on May 6. Anyone who enjoyed his shows “Politically Incorrect” and his HBO show “Real Time with Bill Maher” will want to check out his upcoming performance.

Some people may not be aware of it but every Friday at The Fifth, the 400 Club party takes place and is usually frequented by individuals both young and still youthful looking for something to do in South Beach when the workday is over and the weekend begins. The party is known to be frequented by several prominent athletes and big name celebs.

Mother’s day is just around the corner. Have you decided what you’re going to do yet? The Brazilian steakhouse of Texas de Brazil will be having a special one day only menu to celebrate the occasion, be sure to reserve a table now if you’re interested.

For music aficionados, the JVC Jazz Music Festival will be taking place at the Raleigh Hotel Restaurant on the sixteenth and seventeenth of May, featuring both established and up and coming artists like DJ Rainer Truby and Yoruba Soul Orchestra.

Whether you decide to venture beyond the perimeter of Miami Beach to explore the host of activities and events taking place in Coconut Grove, Coral Gables and downtown Miami, rest assured that the upcoming summer season will bring plenty to see and do close to your South Beach home.

With conflicting opinions and advice coming from both sides, it’s easy to be intimidated by the home buying prospect. You may be thinking, “Okay, I really want a Miami Beach condo by the water to call my own so…should I buy a home right now or not?”

Any real estate agent well-informed in Miami Beach real estate and/or the industry itself will explain to you that during tricky market times such as these, the decision doesn’t come down to an easy yes or no answer. Those people who may have told you that you will be losing money if you buy are indeed correct. Whatever you choose to pay now, you could pay less for in a few months. Also, due largely to the mortgage and foreclosure issue, lenders are playing hardball with borrowers and have become quite selective about who they lend to.

Then again, the prospects could be extremely worthwhile. For one, property prices have gone done considerably which should bring you closer to obtaining that four bedroom home in Miami Beach you’ve always wanted and interest rates on mortgages have gone down which should translate to a more affordable monthly mortgage payment, particularly if you’ve maintained an outstanding credit history.

It can be safely assumed then that there is no real right or wrong when it comes to buying a home. Yes you will lose money and this is something you need to be able to deal with before you do anything else. Sometimes however, it’s not so much the money that matters as it is finding a home to call your own.

The national news media and overall real estate economic statistics are dire, and getting worse on a seemingly daily basis. The truth is that the real estate market boom was overextended and very much speculative based (as opposed to need and/or value based). These current market conditions were not a surprise to me or to anyone who has been in the business through previous market cycles. Essentially, I’m the middleman in real estate transactions, I think a very valuable middleman, but nevertheless a third party to a real estate transaction. I’ve witnessed many dire situations in the past few months where owners have lost all of their equity and stubbornly clung to unrealistic prices - ultimately losing control of properties to the bank or other creditors.

I work for one of the largest and strongest local real estate companies, and yet I’ve noticed that around my office the number of active agents has dwindled. The ones that are left are those consistently ranked over the years as “Top Producers”. These real estate sales professionals are not one, two, three or even four “deal wonders” but those that have the discipline, work ethic, business and organizational skills, as well as the experience to provide value-added services to their clients. Market conditions honestly make an impact on how we work on a daily basis- in a buyer’s market the skills I just mentioned become MUCH more important.

So, my response to the casual question “How’s it going?” is- it’s a challenge, an exciting challenge that makes all of us so called “Top Producers” reach deep down inside ourselves and our skills to make sure we have the discipline in guiding both buyers and (especially) sellers to “get real” and make informed decisions. Deals are still getting done, there are many foreign as well as local buyers making offers and closing on properties. However, everyone today knows that this is a buyer’s market (especially the Greater Miami area and even the coveted South Beach market). A seller today must start by pricing aggressively and working with a qualified real estate sales professional. In the past ten days, I have personally written four sales contracts/offers totaling over six million ($6 Million) for a combination of both commercial and residential properties. The one thing these had in common: all were priced right, in very good locations, and were being handled by competent real estate sales professionals that know how to present the properties to qualified buyers and their agent (me).

I’ve noticed that contracts take longer to close, and negotiations are longer and more protracted with financial underwriting departments looking much more carefully at each and every loan application. The value equation HAS to be present today and for the foreseeable future- the latest evidence of this are the headlines from newspapers indicating a pending revision of national mortgage broker regulations and new stricter national underwriting standards.

So, to summarize, the real estate sales business is still healthy for “Top Producers”- those of us that have the ability to be selective with whom we work with, and for those of us that also have the discipline to stay focused and use our hard-earned skills to provide a true value-added service for our clients.

My Key to Success

My team and I focus only on motivated sellers- those willing to do whatever it takes to sell their property.

• Working with motivated and qualified buyers-particularly those from Europe that understand the value in purchasing income producing and/or prime waterfront properties. If a buyer has the goal of purchasing for x dollars per square foot, then we set up a purchasing system until they get what they want.
• Continuously and religiously following up with creative & innovative marketing programs and then with direct buyers, cooperating agents, and interested parties on behalf of our clients.

]]> http://viveretoscano.wordpress.com/?p=129 Mon, 17 Mar 2008 11:54:57 +0000 viveretoscano.com http://viveretoscano.wordpress.com/?p=129 villa indipendente su tre lati.

Designed by the renowned Kobi Karp, a pair of 1,022 foot buildings soaring over ninety stories into the Miami skyline to be known as the Empire World Towers are being planned and are notable not only for their incredible height, but also for the three “sky bridges” that connect one building to the other and are likely going to be translucent, suggesting a feeling of walking on air hundreds of feet above the ground.

Although they are expected to function as a high rise condo and/or residential property, many people might look at this and wonder why anyone would find this worthwhile considering that condo sales and Miami real estate has, overall, slowed.

The Empire World Towers still remain a massive work in progress and the developer doesn’t expect to finish the building at least until 2010, two years from now when most have concluded that real estate should be doing significantly better. Therefore, the Empire World Towers could potentially become a prime building for investors seeking their next residential property investment.

The project is still in its infancy and has yet to be approved by the Miami City Commission. Assuming it manages to clear all the red tape, Empire World Towers could be an integral piece towards reinforcing tourism in Miami. After all, people will definitely want to visit to see for themselves what would become the tallest building in Miami. Already located in one of South Florida’s finest urban communities, Empire World Towers has tons of potential.

Why is it that now a good time to buy a Miami Beach home or condo per the FAR? It’s simple, really. The glut of existing homes for sale opens up plenty of options that range from more affordable, realistic prices to reduced mortgage rates that translate to much more convenient monthly payments than what is common during better market times. Do some research and you’ll also find that renting a condo or home, especially at the present time, is nowhere near as worthwhile an option as that of actually owning a home. To a lesser but still noteworthy degree, Miami Beach and its tropical lifestyle make it a great place to live.

Another truth: houses are still among your best bets in terms of strengthening your financial security and gaining an investment that will yield long term results. Equity continues to build and therefore, so does your overall wealth. The tax perks you receive as a homeowner as opposed to renting also make a strong case for buying a home.

National Association of Realtors experts are saying that the market has dipped to about as low as it’s going to get and this year will finally start to see it slowly return to a better climate, particularly during the latter part of the year as buyers start to regain confidence, seize upon the low prices, and sales remain relatively steady. Couple this with the efforts being made by the government to spur the economy and suddenly, buying a waterfront condo or single family home doesn’t seem quite as absurd.

Opinion will surely be divided but these new developments may be the catalyst that’ll once again inspire further additions in real estate hotspots like infamous Brickell Avenue and beyond. The Performing Arts Center has been one of the few exceptions to the otherwise sluggish city expansion which has done a lot to attract tourism dollars and overall revenue.

It remains quite famous for its celebrated design district but the soaring downtown skyscrapers and densely populated streets can definitely improve on the natural aesthetic. Currently in the works among the aforementioned city developments is a lush museum park. Market complications aside, discerning buyers oftentimes demand to be surrounded by lush, serene settings and such a creation may in turn spur more people to explore downtown Miami real estate.

Getting back to the Marlins Stadium, should the purported project finally get the green light, those previously mentioned tourism dollars may start to flow in. There’s an even likelier chance some of those tourists vacationing in Miami or staying at a nearby South Beach condo hotel will turn around and make a down payment on a vacation or permanent luxury home.

The last component in the proposed development is a community of affordable houses. Everyone knows the condos and residences in downtown Miami cater largely, albeit not completely to people with high incomes. This project could entice buyers who have long wanted to live near the bustling downtown area but did not have the necessary funds to afford a place there. These future developments and the small positive turn the housing market is supposed to take this year may end up doing wonders for the area.

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Vista meravigliosa su Duomo e Cappelle Medicee di S.Lorenzo.

altre foto su Flickr

Scenario #1: SHOULD HAVE SOLD LAST YEAR (Late on mortgage/tax payments, cannot continue with the fixed expenses, probably purchased property after 2003). Often characterized as a “short sale” with sale terms controlled by the lender. However, often times, the owner still gets to pick the realtor/brokerage firm.

It is critical to be priced correctly from the start, and that the marketing be handled by an experienced, knowledgeable, detail-oriented, and top producing real estate salesperson/team. This should be someone that will be aggressive AND creative in the marketing of the property (be it a home, condo, or land). It is crucial to be working with a company/agent at the top of their field, and who will be a straight talker, positive but realistic, and gives the seller a good feeling that they will follow up with any and all potential buyers. I have recently seen several of these properties in Miami Beach, that are being poorly marketed. The owners (and banks) do not realize what this is potentially costing them.

Scenario #2: NEED TO SELL (Possible health reasons, relocating, retiring, some financial pressure, misc. life circumstances).

It is critical to price the property correctly from the start. I am writing this on January 10, 2008, and have personally spoken to over twenty potential buyers over the past week (and made two offers thus far within 10% of the asking price). Looking at recently closed sales (within three months), properties that are priced to sell usually receive lots of activity and sometimes multiple offers. These also are properties that are on the market for no more than 45 days. Obviously, the marketing needs to be handled by an experienced, knowledgeable, detail-oriented, and top producing real estate salesperson/team. Shockingly, I’ve seen several properties in South Beach that fall under this category, that are being poorly represented (no return phone calls/emails, disconnected phone numbers, agents that seem to have other jobs and don’t really care anymore, as well as poor pictures and text descriptions).

Scenario #3: CASHING OUT (Opportunity for greater returns from owning something else, owner of many years, general desire to move on).

We are certainly not at the top of the market, however, certain properties still receive strong buyer interest. Examples are certain PH-type units with unique locations/views/floorplans, and waterfront turnkey showcase homes in unique locations with strong curb appeal). Yesterday, I had the opportunity to see a comparison of SE Florida property prices versus major European/Caribbean and South American markets. Property in the greater Miami area is still relatively inexpensive, and the weak dollar is attracting a large percentage of European (especially Russian), Canadian, and some South American buyers. I am finding particularly strong buyer interest in Miami Beach and especially South Beach. Island waterfront homes, and South of Fifth Street (South Beach) premium location condo buildings are especially sought after by European buyers.

A joint venture of New York City-based ING Clarion LLC and locally based Flagstone Property Group plans to begin construction in summer 2008 on Island Gardens. The $600-million, mixed-use project is rising on Watson Island in Biscayne Bay. The project is slated for completion in 2010.

The project, located on 10.5 acres of previously undeveloped land, will feature a 43-story building with the 150-room Shangri-La Hotel and fractional ownership homes, called the Residences at Island Gardens, atop the hotel. It will also feature a 29-story business hotel/resort and the 50-slip Super-Yacht Harbour; CHI, the Spa at Shangri-La; and 221,000 sf of retail and restaurant space. Watson Island is situated between Downtown Miami and South Beach and is accessible by automobile via MacArthur Causeway (Interstate 395, the extension of Interstate 95 to South Beach.)

Flagstone Property Group chairman and CEO Mehmet Bayraktar tells GlobeSt.com that marketing efforts for the fractional units have started with prices ranging from $175,000 to $750,000 for a one-eighth interest. Final discussions are under way with the operator of the hotel/resort in the 29-story tower (announced at Art Basel as the Shangri-La Hotel Group).

Bayraktar adds that the retail space is not within the towers, but in separate structures alongside the retail avenue that runs between the two towers. Marketing efforts for the retail and dining space have recently commenced and several letters of intent have been received from restaurateurs and retailers. The positioning of the retail will be high-end luxury goods.

The project, located within minutes of Downtown Miami and Miami Beach, will feature unobstructed views of Biscayne Bay and the Miami skyline. “With its potential to transform the Miami skyline, we expect the complex to become one of the premiere leisure and hospitality addresses in the city,” says ING Clarion managing director Edward Rotter, in a released statement.

The Super Yacht Harbor will be the only marina in North America to be able to accommodate mega-yachts up to 300 feet in length. A 100-foot, set-back landscaped promenade will extend along the 1,000 foot length of the sea wall. The project is being designed by London-based Eric Kuhne & Associates with interiors by Italy-based Piero Lissoni.

I would like to share an interesting and accurate story that aired throughout the day Monday on FOX News and explains that Florida is #1 of all the states in the U.S. in foreign buyers now with 26% of the market followed by California & Texas. The story specifically sites Downtown Miami & South Beach as areas attracting these buyers.

I am personally witnessing this myself as I currently have several pending deals with foreign buyers using Euros. I strongly believe that now is the time for educated buyers to come in and get some great deals on properties in PRIME waterfront locations.

Click on the picture below to have a look.

Miami Beach real estate can no longer claim to appeal strictly to people with six or seven figure salaries. Today the surplus of properties up for sale in the city has eroded prices, revealing plenty of possible investment prospects for those willing to ignore the steadfast doom cries of the real estate soothsayers and find their next lucrative opportunity.

If you’re renting at a condo like Terra Beachside Villas or ICON, it may come as a slight shock to be told that the money you’re plunking down for your lease is potentially going to waste. Instead of it becoming something that will return you a long term profit, you’re periodically losing hundreds.

Recent news reports show overall property values have plummeted to an eight year low, which essentially equates to being able to actually live in that luxury condo by the ocean closer to an imminent reality than the future pipe dream it once seemed. Pre-construction units continue to materialize and their prices also come with an increasingly reasonable price tag. If you decide to simply wait it out and join the legion of “doomers”, don’t be surprised if you find yourself possibly regretting that decision once the market returns to a healthier state.

Since you’re already living in Miami Beach, it’s safe to assume you’ve got fairly deep pockets. If you’re managing that spare change in order to pay off your “pad” in the next decade or so it’s quite likely the market will be in better shape come that time which means your condo’s value would likely have increased substantially.

If you’re not in it for the money, that’s fine. Then again, a hint of bragging bravado never hurt anyone. You may find yourself filled with giggly delight as your friends and loved ones stare in amazement at how you were capable of conjuring the funds for that bewildering three bedroom sanctuary with all the bells and whistles that often come with the word ‘luxury’ attached to them. Obviously you didn’t pay anywhere near the princely sum they have in mind but that’ll be your own little secret.

Nobody’s telling you to go out and splurge on the first property that catches your eye but, just like the old adage “misery loves company”, don’t just sit around with your arms folded like so many of these pessimistic real estate enthusiasts and let a potential opportunity pass you by. After all, there’s absolutely no harm in looking.

I’ve compiled the following from the MLS to clearly communicate what is happening with the luxury condo market South of Fifth Street for the following luxury waterfront buildings:

Murano at Portofino

There are 20 units for sale, which makes it the lowest inventory building in the entire area. The average asking price is $2,475,000 at $1,107/S.F. The median sales asking price is $1,660,000 at just over $1,000/S.F. YTD 2007 a total of 3 units have sold, at an average sales price of $1,523,000 at $1,126/S.F.

Although on paper prices do not seem to have been affected thus far, only THREE units have sold for the entire year! Also of note, there are only two “01” or “A” units (which I consider to be among the best floorplans and views in all of SE Florida and Greater Miami) and they are still hard to come by- with only two units on the active market starting at $4,900,000 or $1,456/ S.F. The last two closed sales that have taken place for the “01” units were in March of 2006 for an average of $3,947,000 at $1,172/S.F.

Murano Grande

There are 53 condominium units for sale in this building, obviously an oversupply of sellers (with at least two units in foreclosure/pre-foreclosure). The average asking price is $1,897,000 at $840/S.F. The median asking price is $1,470,000 at just over $838/S.F. For the second half of 2007 (since June 1) a total of 6 units have sold (vs 13 sales for same period last year), at an average sales price of $1,406,000 at $847/S.F. This represents a closed sales slowdown of 53% during the summer/fall months of 2007 vs summer/fall of 2006.

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There are 43 condominium units actively for sale, with at least four units in foreclosure/pre-foreclosure. The average asking price is $1,860,000 at $895/S.F. The median asking price is $1,600,000 at just over $876/S.F. For the second half of 2007 (since June 1) a total of 6 units have sold (vs 16 sales for same period last year), at an average sales price of $2,676,000 at $931/S.F. This represents a closed sales slowdown of 63% during the summer/fall months of 2007 vs summer/fall of 2006.

Continuum 1

There are 50 condominium units actively on the market for sale. The average asking price is $2,983,000 at $1,263/S.F. The median asking price is $2,372,000 at just over $1,225/S.F. For the second half of 2007 (since June 1) a total of 7 units have sold (vs 10 sales for same period last year), at an average sales price of $1,566,000 at $869/S.F. This represents a closed sales slowdown of 30% during the summer/fall months of 2007 vs summer/fall of 2006.

Portofino Tower

There are 37 condominium units actively on the market for sale. The average asking price is $1,955,000 at $881/S.F. The median asking price is $1,699,000 at just under $800/S.F. For the second half of 2007 (since July 1) a total of 3 units have sold (vs 6 sales for same period last year), at an average sales price of $2,983,000 at $972/S.F. The most significant difference over the past year, are that the number of active condominiums for sale has increased, but the ones selling are the premier waterfront Penthouses and “01” high floor lines with unobstructed views (see below)

Apogee

Closings will be commencing in the next few weeks, the 01 and 04 lines are by far the most desireable. For example, one of the better re-sale units is #901 and can be purchased for $4,790,000 at $1,155/S.F. This may seem like a high price, the 01 line and 04 lines at Apogee have been thus far priced in the $7M and $8M range. I believe that these units are most competitive with Murano at Portofino “01” or “A” units. Note that the last two closed sales that have taken place for the “01” units at Murano for an average of $3,947,000 at $1,172/S.F. See comparisons of units “A” from both buildings below:

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