Miami Beach Neighborhood Know How: Profiles of South Florida’s leading agentsApril 14, 2020
WHAT QUALIFIES YOU AS AN EXPERT IN THIS AREA FOR BUYERS AND/OR SELLERS?
Along with having strong personal and family roots in Miami Beach, I am proud to have achieved the highest number of Miami Beach sales transactions among all EWM Realty International agents in 2014, 2015 and 2016, which has afforded me a tremendous amount of practical knowledge. As a resident of Miami Beach since 1982, I have lived in several areas of the island and have seen, firsthand, the amazing metamorphosis that has taken place — from Miami Vice days to what we know the Beach to be today. It’s been an amazing experience and my tenure and experience affords me the innate ability to accurately convey the real “what’s what and what will be” in Miami Beach — providing buyers and sellers with a genuine and fact based historical trend upon which to base a purchase or a sale.
BASED ON WHAT WE KNOW NOW, WHAT CAN SELLERS GENERALLY EXPECT IN TERMS OF TIME ON MARKET?
It’s no secret that there’s an oversupply in the high-end single-family and condo markets, which generally leads to longer time on market for a lot of listings in this range. However, longer than normal times on market can be averted by having a realistic perception of the specific area in question and basing things on apples-to-apples property comparisons, guided by a seasoned Realtor. Buyers in today’s market are “hyper-focused” and educated — they are in tune with comparable sales before taking a first step to look for a home and come equipped with data, both accurate and inaccurate. Having a sound pricing strategy at the onset is critical as the go-to-market pricing will have an impact on the credibility of the listing down the line. Also, having a price that’s in line with the appraisal value is imperative to keep time on market within acceptable standards. Miami Beach is “on sale,” so it’s important to understand and respect competition — not only from local listings, but from other destinations for wealthy buyers.
FOR BUYERS INTERESTED IN THIS AREA, WHAT WILL IMPACT THEIR VALUES IN THE COMING YEARS?
The continual additions of amazing retail and cultural stopping points in Miami Beach will reinforce Miami Beach home and condo values as will new hotel and medical facility offerings. The Faena project has made a difference and Lincoln Road continues to evolve as a premier pedestrian destination. The blossoming of Sunset Harbor will support residential value as well to the South. The new convention center will be another positive addition to the landscape, which will add even more opportunity for residents in terms of lifestyle pursuits, supporting value retention. Realistically, it’s the multicultural energy, the beach breeze and the Boardwalk that anchors Miami Beach values.
WHAT ARE THE DEFINING CHARACTERISTICS OF THIS AREA AS THEY RELATE TO LIVE/WORK/PLAY?
Miami Beach has become much more self contained in recent years and is seeing growth as a place to live a traditional urban lifestyle without all of the concrete, especially among the creative class. The office market is growing in Miami Beach, so there’s new opportunity and for those who work in remote/virtual settings, there’s really no better place to make home. Shared spaces are also becoming more and more common