100 Newest South Florida Real Estate Listings

June 2, 2010 by Lucas Lechuga

Yesterday afternoon, we added a new page to this website called “100 Newest Listings“.  There you will find the 100 most recent  MLS listings in the following neighborhoods/cities: the Arts District of Miami, Aventura, Bal Harbour, Brickell, Brickell Key, Downtown Miami, Fisher Island, Miami Beach, North Bay Village, Sunny Isles Beach and Surfside.  The listings will be updated every 24 hours.  The link to the new page can be found towards the top of each page below the Miami Condo Investments banner.

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35 Comments on "100 Newest South Florida Real Estate Listings"


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Anonymous
Gixxer 1000
6 years 3 months ago
First indications that recent increases in pending home sales in Miami has more to do with the strengthening of the market than the tax credit: http://www.palmbeachpost.com/money/real-estate/south-florida-pending-home-sales-up-dramatically-from-723594.html “Total pending home sales – including single-family and condominiums – in Miami-Dade increased to 10,456 in May, up 0.62 percent from April” Instead of pending home sales falling off after the experation of the tax credit they actually went slightly higher. “Current South Florida real estate market statistics are positive signs of a resurgent market,’ Terri Bersach, chairman of the Realtor Association of Greater Miami, said in a statement. “Pending sales are considerably higher… Read more »
Anonymous
Joe
6 years 3 months ago

Wow, a 0.62% increase!!

Better buy now, folks! This is a once-in-a-lifetime opportunity! Units are going fast!

Anonymous
F-35
6 years 3 months ago

Great article that explains why people like Joe, Drew and Renter Tom are complete idiots that should be ignored by every sensible person and never listen to, except when in need of a good laugh:

http://online.wsj.com/article/SB10001424052748703561604575282910161870380.html?mod=WSJ_hpp_sections_personalfinance

Anonymous
Samson
6 years 3 months ago

If the Gulf of Mexico oil leak hits Miami Beach, what then? How big a discount then? After all, that’s all Miami has to offer – weather, beaches, etc. With oil slicks/plumes/etc., what happens to condo prices?

Anonymous
F-35
6 years 3 months ago

Samson,
how fast is real estate collapsing in New Orleans right now? Probably doesn’t at all… There is an answer to your question…

Anonymous
Joe
6 years 3 months ago
F-35 — Were you drunk when you posted that article? And, perhaps more importantly, was the writer drunk when he wrote it? Prices in Miami’s lowest-price r.e. segments might be favorable on the rent-vs.-buy comparison, but prices sure as hell AREN’T favorable in the high-end segments that us “idiots” (RT, Drew, myself) have been following. I just ran the rent-vs.-buy numbers for a few units I’ve been tracking on Miami Beach, and the prices aren’t even CLOSE to the annual-rent-times-15 guideline the WSJ writer discussed. All of them were well over 20, and some were at 30. Assuming you still… Read more »
Anonymous
scrivener
6 years 3 months ago
Lucas: Nicely done! The 100 Newest pages are terrific! While I don’t mean to needless pick at you, there is a slight typo on page two of your listing. I raise it only as a matter of style with the hope of maintaining quality of the material on your site. Here is a link: http://www.miamicondoinvestments.com/data/100-Newest-Listings The listed property is: oceanside plaza 5555 COLLINS AV Unit: 12L You should change “oceanside plaza” to either “Oceanside Plaza” or “OCEANSIDE PLAZA” because that is the way the other properties are listed. Just trying to help. scriv
Anonymous
scrivener
6 years 3 months ago

Joe:

“Going fast.” Was that … (sniff, sniff)… sarcasm I smell? 😉

scriv

Anonymous
gables
6 years 3 months ago

F-35, that article said no such thing. It implied purchasing in New York City today is riskier than purchasing in Miami today. That does not mean the Miami purchase is good, just better in comparison to others. Fortunately our down side risk is becoming limited in Miami, since we are far closer to the bottom than in the past-and expect to stay there for a while. Two interesting events for this summer to consider future direction of housing in MIA-a predicted high impact hurricane season and the oil spill. could be major game changers.

Anonymous
Drew
6 years 3 months ago
F-35 (Gixxer), how does that article “explain” that we’re idiots? If in fact you’re Gixxer’s evil alterego, you’re also his unintelligent, moronic alterego. At least Gixxer backs up his tedious, boring, long-winded arguments with some analysis and (skewed)data. Plus I really enjoy his folksy, dumbed-down comparisons of real estate to cars, fruit and jeans. What a statistically legitimate and convincing study by Trulia!…taking a few of their listed 2-br properties and concluding that average yearly rent is $24,200 and average price is $190,000. If we’re only talking about Brickell/MB/Downtown/Midtown condos, as you guys often choose to limit your analysis of,… Read more »
Anonymous
Gixxer 1000
6 years 3 months ago
Joe, “Wow, a 0.62% increase!! Better buy now, folks! This is a once-in-a-lifetime opportunity! Units are going fast!” Again you seem to take something simple and take it to the extreme. No where am I arguing that anyone needs to run out buy now because units are going fast. I’m simply arguing that prices are stabilizing. For you when someone says prices aren’t going down and will probably go up modestly, you seem to interpret that as someone saying you have to buy now before you’re priced out. It like to you the market only does two things fall or… Read more »
Anonymous
Gixxer 1000
6 years 3 months ago
“And keep in mind that their analysis assumes homeownership of at least 7 years to make this city a “buy” instead of “rent.” 7 years is a long time for the ubiqutous “young professional” to stay in a cramped sh*tbox condo when career, family or other considerations would likely force a relocation/move prior to a full 7-year occupancy.” Comments like these from people like Drew let you know that they do not know what they are talking about. You should not be buying a piece a real estate to LIVE in unless you plan to stay there at least 7… Read more »
Anonymous
F-35
6 years 3 months ago

gables,
reread the whole thing and admit that you are an idiot too. Meet your buddies in the Moron Brigade.
Drew and Joe,
you don’t really mean that I’m supposed to argue with you, do you? I can get more intelligent arguments out of a brick wall, so I’ll skip on the invitation, thank you.
Suffice it to say that your ability to remind that while genius has its limits, the stupidity is always bottomless never fails to disappoint.

Anonymous
JL
6 years 3 months ago

“You should not be buying a piece a real estate to LIVE in unless you plan to stay there at least 7 years. ”

————

That would remove 90% of current buyers from Downtown/SoBe.

Anonymous
why bother
6 years 3 months ago

JL, You are reading it wrong. “Stay” literally does not mean that. “Hold” is more appropriate.

Anonymous
Drew
6 years 3 months ago

F-35
Nice retort. You’re clearly the idiot here by posting an irrelevant and misleading article and not being able to defend your statements or the article itself.

Anonymous
Gixxer 1000
6 years 3 months ago

Why bother,

Thank you, I thought that was pretty clear when I mentioned that you should either be able to stay there or be able to deal with the hassle of renting the place.

Anonymous
Gixxer 1000
6 years 3 months ago
You guys are real idiots. The 15 times annual rent figure that they are referring to is the Price-to-Rent Ratio. From 1987 to 2007 the average price to rent ratio has been about 15. This is a ratio that is used by everyone including Moody’s Economy.com which gets quoted here for there 30% price decline prediction. “The price-rent ratio is the average cost of ownership divided by the received rent income (if buying to let) or the estimated rent that would be paid if renting (if buying to reside): The latter is often measured using the “owner’s equivalent rent” numbers… Read more »
Anonymous
Joe
6 years 3 months ago
Re: Gixxer #11 — Settle down. “Better buy now!!” has been a running joke on this site for years. Don’t take everything so seriously. —— Re: Gixxer #18 — Will you be providing an English-language translation of that drivel sometime? Our comments above were simply in reply to your alter ego F-35’s post and link above. If the premise of F-35’s article is correct — that fair price = annual rent x 15 — and if Manhattan is “risky” or “over-priced” at a ratio of price-to-rent ratio of 33, then how are we “idiots” for pointing out that the price-to-rent… Read more »
Anonymous
andi
6 years 3 months ago

folks, wait thru 2011..as assets like stock markets drop more than 20% within a yr, the leveraged effects on other assets will be more than apprent..
chinese BUST will buffet the commodities down hard and this time for real..
oil will go back down to 20-30/barrel as global plunge that was averted by cheap money is back and now viral….
that sobe or downtown apt could lose 50% from here…

Anonymous
gables
6 years 3 months ago

Gixxer, don’t be so sure about tax credit having no effect. The month after the tax credit expires, my $200k home would cost me 4% more than the month before. Do I still buy at $200k, or do I offer at $192k? Just lost an $8k bargaining chip to bid with. Downward pressure may be real, especially in a cash rather than mortgage market.

Anonymous
owneratinfinity
6 years 3 months ago
FYI about the tax credits…. I didn’t even know that I would get a tax for buying my place until my accountant was doing my income taxes 4 months after I closed on my condo. I knew there were 2 tax credits ($8000 and $6500) offered, however i didn’t think much about it. So getting a tax credit or not getting one didn’t factor into my descion of buying a place what so ever. It was just my dumb luck that I bought my condo when I did and I qualitfed for the tax credit. It was just gravy! Plus… Read more »
Anonymous
JL
6 years 3 months ago

“You should not be buying a piece a real estate to LIVE in unless you plan to stay there at least 7 years”
“…I thought that was pretty clear when I mentioned that you should either be able to stay there or be able to deal with the hassle of renting the place.”

——————————————————————————–

That would remove 80% of current buyers from Downtown/SoBe.

Anonymous
Gixxer 1000
6 years 3 months ago
Joe #19 My first point was that a rent to price ration of 15 is a rough average. It doesn’t mean that a ratio of 20 is necessarily bad. Just like if the average price per sqft was $200 it doesn’t mean a place with an average price per sqft of $300 is overpriced. It depends on the property. In fact most places indicate that a ratio of 20 or below is where you can make a stronger case for buying: http://www.nytimes.com/2010/04/21/business/economy/21leonhardt.html “A simple way to do the comparison is to look at something called the rent ratio: the purchase… Read more »
Anonymous
Joe
6 years 3 months ago

Gixxer 1000: “So this was another one of my long winded arguments to explain that you’re an idiot for failing to understand a price to rent ratio before improperly using it to make an idiotic argument.”

— Good God, you get more insufferable by the day.

There’s no way in hell the average price-to-rent ratio for the entire downtown/SoBe market is 15. I couldn’t find a single unit whose ratio was UNDER 15, so how could the average — including the units whose ratios were into the 30s — possibly be 15? Please tell us, oh enlightened one.

Anonymous
Makes Me Think
6 years 3 months ago
andi , you might be right about stock market dropping by more than 20% but what you are not taking into account is that there is a lot of money chasing very few assets. People with money don’t have anywhere to put it to work that will give them a decent return. That is why you see so many investors buying foreclosed homes all cash. That is also why the stock market bounced back by 80% from the march ’09 lows. People with money sitting in the bank earning nothing are looking for decent returns. I doubt oil will even… Read more »
Anonymous
andi
6 years 3 months ago

makes me think:

that thing about lots of money is plain leverage..liquidity can and will disappear overnight ..
how many neophytes who have grown accustomed to easy money & wildest credit orgy in the last 20 yrs would know that…
But they would, in the end, meet that dark reality….

Anonymous
gables
6 years 3 months ago

makes me think, that is a sign of an investor driven inflation problem-resulting in another bubble.

Anonymous
Joe
6 years 3 months ago

Makes Me Think — You might be right about investors needing places to park cash, but r.e. is still driven by end users. At some point, all of the knife-catching has to stop and people need to be living in these units. Almost 30% of Miami’s condos are still unoccupied. That’s a terrible ratio for a market that allegedly bottomed over a year ago. (In other words, over 7,000 of the 22,000 new condos in Miami aren’t even occupied, with an even higher percentage occupied by renters as opposed to owners.)

Anonymous
Makes Me Think
6 years 3 months ago
I don’t disagree with you guys. I believe we are in an age of bubbles, investors will create one bubble after another. We went from the dot com bubble to the housing bubble to the commodity bubble. I don’t know what the next bubble will be but there will be one very soon. I actually know of investors who would go into very very bad neighborhoods just adjacent to the city center to buy houses, they would put a new roof on the house and board up the windows and then just let the house sit there for years. This… Read more »
Anonymous
Gixxer 1000
6 years 3 months ago
“In other words, over 7,000 of the 22,000 new condos in Miami aren’t even occupied, with an even higher percentage occupied by renters as opposed to owners.” The occupancy rate was 74% as of February 2010. If you actually read the report there were 16,415 occupied units and 5,664 unoccupied units. There were 7,010 UNSOLD condos at the end of 2009. But many of these condos were still occupied because developers were renting them out. Also that number (7,010) was reduced to about 6,600 by then end of the 1st quarter and should be even lower today. At the current… Read more »
Anonymous
why bother
6 years 3 months ago

Gixxer, re#31, you really put in the perspective. Brilliant analysis. Kudos.

Anonymous
Joe
6 years 3 months ago
Gixxer 1000 — You can spin any way you want, but the numbers are the numbers. Again, there are 6,000 unoccupied condos in Miami right now and over 50% of the 16,000 condos that have been sold are occupied by renters. Neither of these numbers are indicative of a booming r.e. recovery in Miami. Beyond that, as the report stated, up to 75% of the recent sales were bought by investors who are looking for “a quick appreciation play,” which means those units will be going right back on the market, while the rental market, despite the claims of shills… Read more »
Anonymous
Gixxer 1000
6 years 3 months ago
Thats not the report you idiot, that’s an article written based off of some of the information in the report. “See the following article from National Real Estate Investor for more on this.” “According to a recent study commissioned by the City of Miami’s Downtown Development Authority (DDA)” Here is the actual study: http://www.miamidda.com/pdf/Goodkin-Focus-DDAOccRpt-Mar2010.pdf “Beyond that, as the report stated, up to 75% of the recent sales were bought by investors who are looking for “a quick appreciation play,” No where is this said in any report. You need to learn the difference between someone’s speculation and actual facts. But… Read more »
Anonymous
Joe
6 years 3 months ago

Gixxer 1000 — The fact that you feel the need to hurl insults like “idiot” in every reply is proof that you’re losing the p.r. battle here. Facts, not insults, win arguments.

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