107 responses so far ↓

• 1 Condo Type Thang /Jul 21, 2008 at 4:06 am  Vote:    

  Kudos Lucas - this is a great add to your web portfolio. Glad to see that while others are “looking for new adventures” and leaving the REI world, you’re sticking it through and bringing enhancements online. Nice work!

  Now, can you work on some enhancements to your Property Search? I get very inconsistent behavior on there. And free form entry of SQ Footage would be nice. Also, how about older condo complexes too - it seems like there is much focus on the new complexes being put up around town, but there are some older gems out there too.

• 2 cyrus /Jul 21, 2008 at 9:18 am  Vote:    

  EXCELLENT addition LUCAS. you’re certainly starting to set yourself apart … this will definitively work out for you in the future. real nice job.

  on a sidebar, did you or anyone on this site see this?

  Miami Herald:

  July 21, 2008

  Report: Criminal records in Fla. mortgage industry

  Florida’s chief financial officer is calling for the state’s top mortgage regulator to step down after a newspaper report found that thousands of people with criminal records were allowed to work in the mortgage industry.

  In addition to Don Saxon’s resignation, Florida CFO Alex Sink is also calling for an executive order to stop issuing and renewing mortgage broker licenses to convicted felons.

  On Sunday, the Miami Herald reported that more than 10,000 people with criminal records were allowed to work in Florida ’s mortgage industry. Of those, more than 4,000 cleared background checks despite committing crimes that state law requires regulators to screen, including fraud, rackateering and extortion.

• 3 jcrimes /Jul 21, 2008 at 10:20 am  Vote:    

  cyrus
  my question is was this a surprise? i mean, isn’t the herald reporting on something we , albeit tacitly, knew already?

• 4 umer ahmad /Jul 21, 2008 at 10:59 am  Vote:    

  Lucas,
  awesome addition! i would like to request however specially for those of us who are not as familiar with the miami buildings to perhaps have a link from the name of each building to some details about them such as location on map, some pictures if possible, that would certainly save from searching about that building individually….Thanks.

• 5 Shelley /Jul 21, 2008 at 12:23 pm  Vote:    

  Lucas,

  This is a great idea and I’m glad you did it. Is is possible that each building could have a hotlink on it for individual discussion? Seeing raking numbers is great, but actual dialog on a building someone is interested in would be a fantastic addition.

  Also, I realize you specialize in Miami area condos, but I’m sure a lot of your readers are also interested in the Ft. Lauderdale area. Do you think you could make a section for new buildings in those surrounding areas for individual rankings and discussions? It wouldn’t require any work on your part other than putting in links. The interested users could give their rankings and opinions.

  Thanks

• 6 jorge /Jul 21, 2008 at 1:42 pm  Vote:    

  Hi Lucas,
  I just tried accessing the condo ranking page using safari (mac) and is not showing properly. Not sure if you need to do some adjustments.
  thank you
  jorge

• 7 Juan /Jul 21, 2008 at 3:35 pm  Vote:    

  Jorge,

  I think the Safari Browser looks good now. Nice!

• 8 Alejandro Diaz Bazan /Jul 21, 2008 at 4:38 pm  Vote:    

  If you are able to leave comments on each building then it could be like a forum, that would be really good especially if the perspective is from residents of those buildings

• 9 RCR /Jul 21, 2008 at 5:18 pm  Vote:    

  The Miami area is in a recession. Could you imagine what would happen to this area if we took away all the money funelled into the community from real estate, mortgage, medicare, political fraud and drug dealing? It would be ten times worse than the Great Depression, for this area.

• 10 Nate /Jul 21, 2008 at 10:47 pm  Vote:    

  Lucas,
  As you intended, this is a great resource for out of state people like me. One thing that might make it even nicer is to link each condo to the units for sale. For example, it would be interesting to easily see the average listing/sale price per square foot next to the rankings to see if they match up.

• 11 Richard /Jul 22, 2008 at 3:08 am  Vote:    

  Good job Lucas–it could almost lend itself to becoming a wikapedia style list where people could add facts to each property.

• 12 cyrus /Jul 22, 2008 at 8:10 am  Vote:    

  jcrimes,

  just posting an article. maybe it’s a surprise to some and obvious to others. personally i thought 10,000 criminals was a high number but nothing new for south florida as a whole.

• 13 moretroops /Jul 22, 2008 at 8:47 am  Vote:    

  I think we’re all asking a bit too much from Lucas. Fort Lauderdale? Wikipedia?

  He’s just one man for Godsake!

• 14 Blind Mind /Jul 22, 2008 at 9:33 am  Vote:    

  Cool feature Lucas but could you make the property names linkable to their listings? I had to search thru your site to find out where Santa Maria is…

• 15 jcrimes /Jul 22, 2008 at 9:50 am  Vote:    

  cyrus
  not shooting the messenger (you). i was just under the impression that folks viewed mortgage brokers on the whole as a suspect group of folks and the herald’s “groundbreaking” review is much ado about nothing. really, cutting to the chase, i just think the herald sucks…that’s right cote - bring it!!!

  lucas - i like the addition. i guess the only criticism is that i think everything should be relative rather than absolute. for example, blue arguably has the best views for the arts district and thus, everything should be compared to it in that hood.

  on a sidenote, i’ve changed my tune - give the truckers their damn tunnel (regardless of whether they want it). biscayne was atrocious this morning.

• 16 Juan /Jul 22, 2008 at 10:53 am  Vote:    

  “Cool feature Lucas but could you make the property names linkable to their listings? I had to search thru your site to find out where Santa Maria is…”

  No way!! You actually had to search thru the site!!! Shame on Lucas

  All kidding aside, good job Lucas. I like the new addition.

• 17 Grant /Jul 22, 2008 at 10:53 am  Vote:    

  Lucas, great job again. I noticed that there are a a couple of buildings missing like Star Lofts and Onyx. Or maybe they wouldn’t score. I’m curious as I follow them in tandem with Quantum, Opera, and Cite.

• 18 Alejandro Diaz Bazan /Jul 22, 2008 at 11:46 am  Vote:    

  Lucas Maybe you can link the page so I can tag pictures and videos to the buildings from my iPhone! You should also be able to comment and everyone should be able to upload pictures, also we should get streming live video and place webcams in the Lobby ahajajajaj im just kidding, poor Lucas stop asking for so many things!

• 19 Lucas Lechuga /Jul 22, 2008 at 1:00 pm  Vote:    

  The building names will eventually be linked. I still have a lot of other new ideas for the site that you’ll see in the coming months. The changes take time to roll out though.

• 20 Rental Problem /Jul 22, 2008 at 1:16 pm  Vote:    

  I am hoping someone here can help…

  I have been living in a rental unit for the past 2 years and my landlord told me yesterday that because the unit has dropped so much in price (40%), he is actually upside down on the mortgage (owes $80k more than what the unit is worth) and therefore wants to stop paying the bank to try and negotiate.

  I was thinking on moving out by December, but what should I do now? I am afraid that the bank will kick me out. How long does the process usually take? Should I move out now or can I wait until December?

  Help!

• 21 jcrimes /Jul 22, 2008 at 1:21 pm  Vote:    

  rental
  if a foreclosure hasn’t been filed…no need to worry. it’s taking about 120 days for an uncontested foreclosure.

  as for your landlord, if he already has last month’s rent and security deposit, i’d be very careful with how much you give him going forward

• 22 Shelley /Jul 22, 2008 at 2:06 pm  Vote:    

  @Moretroops. Yes I know it might take a *little* more effort to add a few links to buildings in Ft. Lauderdale and hotlink the buildings for forum discussion. But that would be it - just the list of buildings and forum links. The rest would be reader supplied. I’m sure lots of readers on here are considering purchasing a unit either in Miami or a little further north. It would be a great resource, since I haven’t found condo rating forum anywhere on the web.

  Thanks again Lucas.

• 23 Generalmagic /Jul 22, 2008 at 2:27 pm  Vote:    

  Rental Problem,

  I would be careful. You might get process servers coming to your apartment and putting notices on your door at any given hour in a day. Foreclosure, especially in this market, can take a lot of time especially if owners keep postponing the inevitable. I would also be very careful of your deposit and getting it back. So if you have last months rent and a deposit with the landlord you may just want to tell him that you are no longer paying him and move into an apartment where the owner is not upside down. I am a realtor and I never put clients and any suspicious units where I know owners are upside down.

• 24 Rental Problem /Jul 22, 2008 at 3:11 pm  Vote:    

  Thank you for your help!

  How do I know if a foreclosure has been filed? He said he is current up to July 31st, but how do I know?

• 25 dobieman /Jul 22, 2008 at 3:49 pm  Vote:    

  rental problem, go to the clerk of the court website to see if a case has been filed in circuit court also,, look up the owner’s name in the public records portion of the clerk’s website under mortgages to see if you can find the lender name although the mortgage is usually sold and the new mortgagor does not file

  Lucas, hats off to you for all you do here, hope it brings you business — you deserve it

• 26 Alejandro Diaz Bazan /Jul 22, 2008 at 4:45 pm  Vote:    

  Try and get your deposit back if you can and dont worry if the foreclosure just started they will give you time to pack your stuff especially if they are trying to negotiatie a short sale and they keep extendeding the sale date. If he stops paying this month it will be at least 3-4 months until you get a notice of Default and a Lis Pendes is filed.

  You should always check to make sure that the apt you rent is not in foreclosure, many times I have seen apartments that are asking 1 month to move in and they are priced very low and when I look into it it is because they are in foreclosure and they are trying to get a tenant in immediately so they can get rental income while they loose the property…

• 27 JL /Jul 22, 2008 at 5:05 pm  Vote:    

  Seems like a surprisingly honest landlord.

• 28 Carrie T /Jul 22, 2008 at 5:40 pm  Vote:    

  What a great website!! Your information has been so helpful. I have been searching for Miami property through a site called property maps. Your information has been a great addition to it.

• 29 Brian /Jul 22, 2008 at 7:03 pm  Vote:    

  I would like to know what nightlife there is in Brickell. Sleeping? Watching TV?

• 30 JR56 /Jul 22, 2008 at 7:06 pm  Vote:    

  just closed on a unit, the building is usuing a cable company named “primecast” any one ever heard of them? any good?

• 31 Richard /Jul 22, 2008 at 7:08 pm  Vote:    

  Renter–would be very tempting to stop paying and ride out the foreclosure for free–banks claim they hate vacant units and the owner must have his own place.

• 32 la la /Jul 22, 2008 at 7:39 pm  Vote:    

  Brian,

  I live on Brickell, don’t forget reading and playing video games which is pretty much what my husband and I do…heeeeeeee, we’re crazy that way! We just got Wii fitness! And I’m addicted to Wii tennis! Can you handle it!

• 33 la la /Jul 22, 2008 at 7:40 pm  Vote:    

  Oh and reading Lucas’s blog of course!

• 34 la la /Jul 22, 2008 at 7:41 pm  Vote:    

  From what I hear, my more hip friends go to Segrafedo and Novecento…that’s pretty much it…

• 35 la la /Jul 22, 2008 at 7:43 pm  Vote:    

  Did I spell Segrafedo right?

• 36 la la /Jul 22, 2008 at 7:45 pm  Vote:    

  shit, i didn’t'! Segafredo:)

• 37 Richard /Jul 22, 2008 at 7:45 pm  Vote:    

  JR–A lot of new buildings seem to sign up with a middleman for cable–I am sure its a profit center for the developer. Actual service is regular cable company or satelite.

• 38 moretroops /Jul 22, 2008 at 8:28 pm  Vote:    

  There’s a surprising amount of of new nightlife on Brickell, actually. Segafredo is bumpin’, plus Badrutt’s Place, Transit Lounge, the entire Mary Brickell Village Scene (incl. Blue Martini), the new Irish pub at One Broadway, Centro and Novecento. It’s a far cry from the wasteland of just a year or two ago.

• 39 Dick Tracy Wrist Watch Phone /Jul 22, 2008 at 9:21 pm  Vote:    

  Actually the IPhone will be old hat. Two months from now the wrist watch phone is coming out and I hope your website works with it.
  Why don’t you do a review on each cell phone and how it works for real estate hunters. I just bought the iphone killer for example the instinct by samsung. Later on your could have a discreet section to order, get some revenue off this website 4 you.
  I like the suggestion for a forum on each building, could talk about some of the issues with buildings such as airconditioning not working, leaks, perhaps do a link (or offer to condo association) also develp software for bidding on your cell phone for live real estate auctions.
  Okay, that’s enough for now. You owe me a deal on a condo if any of this helps you have more revenue coming in, and improves your website.

• 40 Brian /Jul 22, 2008 at 9:29 pm  Vote:    

  That is more nightlife than downtown and the arts district?

  I don’t know how Brickell can be considered a 10 in location. What if I want to dance, where do I go? What if I want to go to see a concert, where do I go? What if I want to see the Heat, where do I go? If I want to see Art, where do I go?

  Not Brickell…

  I mean, is Brickell’s nightlife that much different than Coral Gables?

  Give me downtown or the arts district. Which are more fun, and closer to the beach, than Brickell.

• 41 Alejandro Diaz Bazan /Jul 22, 2008 at 10:32 pm  Vote:    

  Where do you guys think price will bottom out at the jade? I recently saw an apt at the Jade Corner Unit 1 bed plus Den 2 bath 1293 SqFt on the corner but low floor but you see the bay drom the balcony. I havent gotten the pricing from the lender yet but its coming at around 200K if I had the cash I would pick it up at 200K that would be $154 a Foot for Jade

• 42 perez /Jul 23, 2008 at 6:15 am  Vote:    

  Alejandro, price is very good, but don’t forget to add $750/month maintenance fees. With building’s foreclosure notoriety and corresponding budget shortfalls, possibility of fee increases and assessments have to be factored in.

  Other than contacting the condo association, is there a publicly available resources which tracks condos’ fees and assessments?

• 43 probably too cynical /Jul 23, 2008 at 6:48 am  Vote:    

  I was walking Brickell at 5:30am this morning going in to the office early, and I couldn’t help but notice how many early-risers there are at 501 Brickell and Axis. How ambitious those residents must be! there were as many lights on in those buildings at 5:30am as at 10pm! Unlike the lazy bastards in the surrounding, more-established buildings, which generally had only small number of lights on at that early hour.

• 44 Un-Related /Jul 23, 2008 at 7:35 am  Vote:    

  probably to cynical,

  That is the funniest damn thing I have ever read on here, albeit, I inadvertently made large “donations” to both.

  The only “lazy bastards” that will be getting their wake-up call will be the paper shufflers at RCRS!

• 45 renting at plaza on brickell /Jul 23, 2008 at 8:17 am  Vote:    

  The Plaza has Primecast. I had not had any problems. I have the basic cable that is included plus I pay 34.95 for internet (less than what I paid AT&T at my old place).

• 46 perez /Jul 23, 2008 at 8:48 am  Vote:    

  Excellent article about condo associations problems with lender foreclosures, references Bentley Bay, and the steal at the Bath Club.

  http://www.law.com/jsp/article.jsp?id=1202423176300

  What is the easiest way to determine the financial health of a condo association? are income statements, balance sheets, fees per sq ft, or special assessments publicly available?

• 47 Un-Related /Jul 23, 2008 at 9:31 am  Vote:    

  EXTRA! EXTRA! READ ALL ABOUT IT!

  “The Hypocracy of Jorge Perez”

  http://beckandlee.wordpress.com/

• 48 jcrimes /Jul 23, 2008 at 12:27 pm  Vote:    

  perez
  assuming the ass’n is operating in a cash positive manner, in my opinion, reserves are by far the best indicator of financial health.

• 49 moretroops /Jul 23, 2008 at 12:38 pm  Vote:    

  Un-related — the author of the article you linked is an attorney who is known to bring a condo suit or two. So take it with that in mind. And btw, the author talks about the hypocrisy of of Perez, but what about the hypocrisy of the condo flippers, who sue to get out their contracts simply because the market has turned. They were more than willing to abide when the market was up. Just sayin.

• 50 Juan /Jul 23, 2008 at 12:57 pm  Vote:    

  I agree with moretroops completely. Un-Related it is not Jorge’s fault you made a bad investment. You signed 2 contracts thinking you could flip the units. He kept his end of the bargain and delivered the units as described, you’re the one asking for your money back.

• 51 Un-Related /Jul 23, 2008 at 3:43 pm  Vote:    

  Juan,

  OK smart guy, where do I state I want “my deposits” back? The highest expectation I have is that Related honor it’s own damn contract and refund the 25% of the deposits, as specified in the contracts.

  (This lawyer you mention has had to file suits on behalf of 50 Biscayne contract holders for the return of the same 25% because Related breached their own contracts!)

  I would have taken my losses a year ago if the ARTIFICIAL minimum “re-sale” prices set exclusively by RCRS weren’t fixed at Purchase Price + 7.75% in order to prop-up the 2005 pruchase prices.

  Then, when you “walk” and do not close, they send party invitations. When you call and write about them honoring their contracts, they go “radio silent”.

  Jorge delivered the building. We could not obtain reasonably financing to close. Contract says what it says, they wrote it.

  That’s one reason why people hire what Jorge calls “ambulance chasers”. Maybe if he slowed down, turned off the siren, and honored his contracts people wouldn’t sue. Ya think?

• 52 Once again /Jul 23, 2008 at 4:14 pm  Vote:    

  I agree with that stament:

  I would have taken my losses a year ago if the ARTIFICIAL minimum “re-sale” prices set exclusively by RCRS weren’t fixed at Purchase Price + 7.75% in order to prop-up the 2005 pruchase prices.

  It’s total BS by RCRS resale prices. What a scam. The funny thing is I called the other day and they are still trying to sucker me into paying top dollar fro something that is already selling by owners at a much cheaper price. I mean not even close to true market pricing. That’s why I dislike RCRS..they are so full of shit. Don’t BS to tell me that their product is worth so much more than the same multiple sellers in the same building selling at a cheaper prices.

  The most ridicoulous thing I heard was when I mentioned their competitor developers was that their buildings offers a parking space..”something that other developments don’t have” I was like really….yeah so what! Evey new construction in downtown has an assigned space with the exception of their budget LOFTS buildings.

  So yes i would liek to buy and yes the buildings are nice/decent but don’t play me for a stupid fool and try to sell me a same unit for 100 - 150k more than the others and tel me yours are special because it had an assigned parking space…so do all others!

  Shame on you RCRS. Not to blame or accuse “all” of their reps but they sure do got alot of airheads on their staff or sales staff just ready to stab really hard an unsuspecting buyer who don’t know much about Miami.

• 53 Good Real Estate Attorneys Are Hard To Find /Jul 23, 2008 at 6:18 pm  Vote:    

  I am not affiliated with this firm, but I can tell you I have had several good experiences with this firm. They are honest, upfront, and don’t overbill (which is a rarity these days) They also have been successful getting deposits back.
  http://www.mllawfl.com
  Also, saved me a bundle dealing with a crooked real estate agent who was trying to get a kickback from a buyer.

• 54 RG /Jul 23, 2008 at 6:33 pm  Vote:    

  Un-Related- I complete agree with you 100%. The fact is they artificially raised prices thus adding to the buying frenzy which ultimately ended in this bust. Regardless what your listing price was the units were re-priced to their minimum. You’re actually luck they allowed you to list at cost plus commission one of my units in Trump Tower 1 was listed 50% over what I actually paid for it despite my price which was hundreds of thousands below. It added insult to injury when they wouldn’t return the 25% that’s clearly stated in the contract if the buyer defaults.
  On another note of course as prices were rising buyers turned a blind eye to things that weren’t done to contract but just because they choose to let things slide doesn’t mean it was ok. Why would anyone else accept these material and adverse changes in a downward market, it’s only logical buyers will expect the building to be as sated in the contract and not worse
  Un-Related please email me at ramy.gali@gmail.com thanks.

• 55 Rob Roe /Jul 24, 2008 at 4:18 am  Vote:    

  i just have a quick question… we have two units at Icon Brickell at preconstruction prices… they gave us all the pamphlets and so forth with the floor plans labeled A-G but they dont correlate to any unit numbers… how can I this information out? the unit numbers are 1611 and 1710 in tower 2…

• 56 probably too cynical /Jul 24, 2008 at 4:30 am  Vote:    

  again, another early morning walk through Brickell and more surprise at just how many residents of Axis and 501 Brickell are up at 4:30am! Virtually every single light that was on at 10:30pm was on again at 4:30am! (Looks like some residents at Wind have caught on and they are getting up really early, too!) I had no idea Miami was so full of early-bird A-type go-getters! (but why do they all live in the same new buildings?)

• 57 probably too cynical /Jul 24, 2008 at 4:37 am  Vote:    

  I guess all these people up so early at Axis and 500 Brickell must work at that office-thingy built in front of Latitude. (does that thing serve any purpose but to block views at Neo Vertika?)EVERY SINGLE light in that building is on at 5am!

• 58 Condo Type Thang /Jul 24, 2008 at 7:23 am  Vote:    

  Uh Lucas - your condo deals page is broken. Says there are no deals right now. Maybe there aren’t, hehe. Price drops coming?

• 59 cyrus /Jul 24, 2008 at 9:23 am  Vote:    

  probably too cynical,

  i think the developers leave lights on to make it appear as if the buildings are being lived in…

  …or the people who bought there now have 2 jobs to support the payments so they work around the clock! (hehe…sorry i just had to..)

• 60 Renter Tom /Jul 24, 2008 at 10:16 am  Vote:    

  Rob Roe — You don’t know what you bought??? No offense, but I sure hope you don’t get any of my tax money to bail you out…geesh.

• 61 AZ88 /Jul 24, 2008 at 10:17 am  Vote:    

  Noise at Brickell Financial Centre under construction: 6th St/Brickell

  I live in a condo next to this u/c office building and awoke this morning to construction noise starting at 5AM. I subsequently called the police about a violation; however, was told that the site has all permits to do the work at this time. The police said to contact code enforcement and zoning. I was also informed that work would be beginning overnight. Help!

  To my knowledge, this seems to be completely unacceptable and in violation. Does anyone know how this insanity can be stopped? How to proceed?

• 62 Renter Tom /Jul 24, 2008 at 10:27 am  Vote:    

  I am just shocked at how quickly people will just stop paying their mortgage to force the hand of a bank or mortgage holder. Grow up and take responsibility for the debt you incurred. I hope banks, etc. hold each person personally liable and I hope the FBI puts a bunch of the crooks on both ends in prison. If you made a contract, then honor it. What if a bank decided to not honor the contract and kicked you out of your home even though you were current on your mortgage? You’d scream bloody murder. Well the same goes for you, pay your damn mortgage like you are supposed to. Just because home prices have fallen, doesn’t mean a darn thing, it is the same house you bought and if you don’t have to sell right now (such as job loss, etc.) then stick with it. No bailouts!

• 63 Rob Roe /Jul 24, 2008 at 10:55 am  Vote:    

  Renter Tom rest assured we’re keeping both units… we don’t need tax money or any kind of help to bail us out… thank you very much…

• 64 Miami2008 /Jul 24, 2008 at 11:29 am  Vote:    

  Rob Roe try zilbert’s site. He has floor plans and a building plan.

• 65 Un-Related /Jul 24, 2008 at 11:52 am  Vote:    

  AZ88,

  If you live at 500 Brickell, you should insist that Related send Big Jorge down there at 6:00 AM so he can point out that he is the self-proclaimed “Donald Trump of the Tropics” and either they shut down, he buys them out, or he pays off the City Commissioner to have them shut down!

  If you are at Brickell on the River II, you probably relegated to buying some earplugs.

  Sorry, just trying a bit of humor!

• 66 Rob Roe /Jul 24, 2008 at 2:01 pm  Vote:    

  thank you but i found out all the information necessary… btw i love this blog… especially your comments renter tom (that wasn’t meant to be sarcastic)… i’ve learned alot from hours of reading different viewpoints and comments…

  lucas keep up the great work, have been following it for about 6 months now…

• 67 Renter Tom (an upset taxpayer at the moment) /Jul 24, 2008 at 2:14 pm  Vote: