Miami Real Estate Review FaceBook Fan Page

May 27, 2010 by Lucas Lechuga

Miami Real Estate Review FaceBook fan page

Yesterday afternoon, we launched the Miami Real Estate Review FaceBook Fan Page.  We have big plans for the fan page so be sure to add us.  Starting next week, we will provide daily updates in regards to the Miami real estate market.  Important market news, recently closed sales and the best real estate deals currently on the market will be highlighted.  The information will be provided in an abridged, concise manner to allow daily updates to be made possible.  Of particular note to some, the Miami Real Estate Review Fan Page will have a discussion forum.  Participants will be able to create discussion topics and provide their input.

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37 Comments on "Miami Real Estate Review FaceBook Fan Page"


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Anonymous
why bother
6 years 4 months ago
Foreign buyers are flocking to Florida condos again Canadians, Brazilians — even some Chinese — are buying up Florida condos, sometimes in bulk. The lure: rock-bottom prices. Nearly 800 Canadians will jam a hotel ballroom near the Toronto airport Sunday to hear the gospel of Florida real estate. High-end Brazilian buyers prefer to be wooed more intimately — perhaps at a cocktail party or a small private dinner — but they are just as pumped. Lured by rock-bottom prices, international buyers are now flocking to buy Florida properties. It’s especially true in countries where the currency is strong against the… Read more »
Anonymous
Joe
6 years 3 months ago
“We’re telling Canadians this is a once-in-a-lifetime opportunity — the perfect storm,” said Brian Ellis, who heads Toronto-based Florida Home Finders of Canada. “The prices are just incredible and the Canadian dollar has been so strong.” — Gee, where have we heard that before? Brian Ellis sounds like a transplanted Miami r.e. salesman. For 5 years all I’ve heard is how Miami’s r.e. boom was going to be great for locals. I still don’t see it. If 3 out of 5 buyers are foreigners and a large number of the rest are wealthy investors, I don’t see how the average… Read more »
Anonymous
why bother
6 years 3 months ago

Joe said “I don’t see how the average Miami resident has benefitted from the so-called boom.”
who said the boom is for the benefit of the miami residents!? pulling out some new theories ?
These condos were never meant for the $27K/year earning miami residents who are mostly servicing the wealthy outsiders. These are made as 2nd homes or retirement homes for the rich folks from everywhere. They are the only ones who can afford to buy them and absorb their carrying costs.

Anonymous
Joe
6 years 3 months ago

why bother said: “who said the boom is for the benefit of the miami residents!? pulling out some new theories ?”

— Um, if you actually read my last comment before posting a snarky reply, you would have noticed I said: “For 5 years all I’ve heard is how Miami’s r.e. boom was going to be great for locals. …” Are you claiming you never heard this as a Miami resident back when every sort of tax break and zoning waiver, etc., was being doled out to the developers?

Anonymous
owneratinfinity
6 years 3 months ago

joe you said

I don’t see how the average Miami resident has benefitted from the so-called boom

—> I did

Anonymous
Joe
6 years 3 months ago

owneratinfinity — Didn’t you say you bought a $600,000 condo? If so, that doesn’t make you an “average” Miami resident.

Anonymous
owneratinfinity
6 years 3 months ago
Joe you said owneratinfinity — Didn’t you say you bought a $600,000 condo? If so, that doesn’t make you an “average” Miami resident. —->I agree, but i never said how much I paid for my condo in total, I only said that I paid $220 per sqaure foot. —–> I said in my previous posts that I bought the smallest condo in the buiilding facing east (with my azaming bay, ocean and city view) on the higest floor (50 and 50th) for the least amount of money, so i paid ALOT less then $600k for my condo, —> I feel… Read more »
Anonymous
Swissluxury.Com
6 years 3 months ago
Interesting article on Barry Sternlicht (Paramount Bay Owner) in the NYT yesterday: http://dealbook.blogs.nytimes.com/2010/06/01/barry-sternlicht-real-estate-bargain-hunter/?src=busln Money quote is this: “We are going to be like the Saudis in all these markets,” he says. “We have the lowest cost of production and all the oil. There’s nothing else new under construction. In three years, when all the debris, all the clutter is done, we’ll be the guys. We will have price control.” They really seem intent on mothballing this project and waiting for sunnier days…..in my opion this really hinges on two things: 1. What the world and general economy look like in… Read more »
Anonymous
DJ
6 years 3 months ago

I also benefited from the boom/bust. I don’t see what there is to complaint about. You can get some great places for awesome deals these days.

Anonymous
why bother
6 years 3 months ago

swiss, great piece.

DJ, When joe said average miamians, it did not include you and infinity owner. You guys are the well to do relatively speaking, compared to the average $30K salaried miamians. The only way I can see that the average joe (pun intended) from miami benefitted is that they are able to live in these condos on a subsidized rent at least for the first 3 years of the bust. If not for the condo boom, living in a luxury condo like these would have been unthinkable for all these average Joes.

Anonymous
why bother
6 years 3 months ago
Lenders get unsold Everglades on the Bay condos Under a bankruptcy deal, unsold units in a downtown Miami condominium project will be handed back to lenders — the latest in a string of condo turnovers since mid-April. BY INA PAIVA CORDLE icordle@MiamiHerald.com A pair of 49-story towers in downtown Miami will go back to the banks, says the developer, which will remain on-site manager for the Everglades on the Bay condominium. If approved by the bankruptcy court, the deal would settle the Chapter 11 bankruptcy case of project developer Cabi Downtown LLC by turning over hundreds of unsold units to… Read more »
Anonymous
owneratinfinity
6 years 3 months ago
DJ you said I also benefited from the boom/bust. I don’t see what there is to complaint about. You can get some great places for awesome deals these days. —-> 100% agree – —-> EXAMPLE – since I purchased my conde from the developer 5 – 6 months ago, the developer sold 9 units (smilar to mine) to investors for $30,000 to $40,000 more then I paid for my unit. And most of these 9 units where on lower floors then mine. —> so there are good deals out there , you just need to look for them and when… Read more »
Anonymous
owneratinfinity
6 years 3 months ago
why bother you said, DJ, When joe said average miamians, it did not include you and infinity owner. You guys are the well to do relatively speaking, compared to the average $30K salaried miamians. The only way I can see that the average joe (pun intended) from miami benefitted is that they are able to live in these condos on a subsidized rent at least for the first 3 years of the bust. If not for the condo boom, living in a luxury condo like these would have been unthinkable for all these average Joes. —> I see your point… Read more »
Anonymous
Makes Me Think
6 years 3 months ago
joe- “I don’t see how the average Miami resident has benefitted from the so-called boom.” boom or bust? I’m assuming you mean the decline in housing prices. The average Miami resident who still has a job and decent credit are finally able to purchase a home they can afford to pay. There are many young couples who for the first time are able to combine their 30K salary and savings to qualify for foreclosed home or condo that they never imagined they would be able to afford just a few short years ago. Who do you think are taking advantage… Read more »
Anonymous
why bother
6 years 3 months ago
Incredible, but coming from conservative WSJ, who can challenge this or call it a puff piece? Luxury Sales Bounce Back Bidding wars for a $2 million house? In some markets, sales of high-end homes return to levels not seen since the boom By JULIET CHUNG and JAMES R. HAGERTY For years, Jennifer Metz and her husband John yearned for a bigger home in San Francisco. Three months ago, the couple started looking, figuring that in this shaky economy, their $3 million budget should provide them a pick of attractive homes and accommodating sellers. Luxury Going Fast A Cambridge, Massachusetts home… Read more »
Anonymous
why bother
6 years 3 months ago
Joe, looks like WSJ read your comments on MCI and wrote this article especially for you. If you are waiting for that crash to happen in SOFI, just fuggedaboutit Despite Bust, Ordinary Joes Still Can’t Afford Stately Homes By James R. Hagerty Kimberly Hallen/Boston Virtual Imaging In Brookline this colonial home with three fireplaces went on the market on a Friday and was under contract the next day for the listing price of nearly $3.5 million. One of the disappointing aspects of a housing bust is that it doesn’t actually mean ordinary Joes can now afford stately homes with views… Read more »
Anonymous
Makes Me Think
6 years 3 months ago

why bother, they won’t call it a puff piece, they will ask about the impending double dip. Many nay sayers are waiting for the double dip, below last year’s low.

Anonymous
why bother
6 years 3 months ago
I love these golden words so much, I just want to repeat it, One of the disappointing aspects of a housing bust is that it doesn’t actually mean ordinary Joes can now afford stately homes with views of the Golden Gate Bridge or luxury apartments overlooking Central Park in Manhattan. As we report in Friday’s Journal, prices have come down on nearly all types of homes, but there is still pretty fierce competition for homes in coveted neighborhoods with décor that would make the editors of Architectural Digest drool. That proves there are still more wealthy people than there are… Read more »
Anonymous
why bother
6 years 3 months ago
Makes me think, LOL it is true. Also I would like to say, there is so much money lying all over the World, wealthy people do not know what to do with it. Can you actually believe, even in this sucky economy of ours, the World wants to park their money in anything USA? The Dollar which people dismissed as worthless toilet paper not too long ago is shooting through the roof. It is up 16% against some currencies. No matter what our woes are, people love anything America and that includes the safety of our Real Estate. That is… Read more »
Anonymous
Seanjohn
6 years 3 months ago

Case Shiller is a single family home based index so it doesn’t include data on condos or co-op’s.

Anonymous
Joe
6 years 3 months ago

LOL. “why bother” spouts off, and then gets shot down by the fact his numbers don’t even include condos. What a tool.

Anonymous
Renter Tom
6 years 3 months ago
why bother – I do agree those areas have held up better than others….BUT there has also been VERY FEW transactions. The high end is taking a hit, it is just behind the lower end markets. With respect to the dollar, it may be worth more compared to other currencies but it will end up being worth less over real things. We are in a unique spot right now (wrt to monetary and fiscal policies and positions and it ain’t a good thing)…and there is a lot of uncertainty regarding US $$$. Our federal debt per person is more than… Read more »
Anonymous
Makes Me Think
6 years 3 months ago
-“The adjustments are coming but that is a long term play. Foreigners should flock to Canada and buy some nice warm clothes to go with it” yeah right, I heard Detroit is a much better bargin than Canada and really close too. I doubt you will convince anyone to go there though even if they will save a boat load on housing. RT, there is a reason why people from Cnada are buying homes in US. How many Americans have you heard of buying vacation homes in Canada? Like I tried to tell you and others over a year ago… Read more »
Anonymous
gables
6 years 3 months ago

just a reminder on the reality of these numbers. Percentage drops are one thing. But a 25% drop on a $2 million dollar home is a much bigger loss than a 50% drop on a $300k home. Keep it in perspective.

Anonymous
why bother
6 years 3 months ago

Everyone has a point except Joe.

Joe, Case Schiller is relative and subjective. You can quote CS as it nearly mirrors condo behaviour if not to the exact T. And BTW, you and your frineds extensively quoted CS as a bible all these months and years. Today you are singing a different tune. According to you, CS is irrelevant and does not matter to Miami Condos……………. your words, not mine. So don’t ever use CS to drive your point again lest you look foolish.

Anonymous
Renter Tom
6 years 3 months ago

Makes Me Think – I was being a bit tough in cheek about buying in Canada…lighten up man.

Anonymous
Joe
6 years 3 months ago
why bother — Sorry, but you’ve never seen me quote Case Schiller re: condos. Nice try, though. —— RT makes a good point; one we were discussing a week or two ago. For an allegedly rebounding, “strong” high-end market, there sure as hell aren’t many sales in those price segments in Miami. As I’ve been saying all year, some of the newest and best buildings on SoBe haven’t had more than 2-3 sales all year, including buildings that are still 50-plus percent investor-owned. In fact, some of the developers have been pulling units off the market just so Day 450… Read more »
Anonymous
makes me think
6 years 3 months ago
joe – If you don’t think the U.S. has VERY tough financial times ahead, go check out the balance sheets and problems in Europe. Go check out Drudge Report right now, where there’s a story that says the daily rate of U.S. debt under Obama is TRIPLE what it was under Bush just 2 years ago. sorry don’t read that report, I like objective news without obvious agendas. That’s your problem man, you let these people with agendas form your opinion for you. Some comments about Drudge Report; “Richard Siklos, an editor of Fortune magazine, called the Drudge Report a… Read more »
Anonymous
makes me think
6 years 3 months ago

RT, was just trying to point out that even though some places have problems, sometimes serious problems they are still desireable places, more so than places that may have obvous advantages. These cities are like the crazy, high maint., hot chicks. Every guy want’s to be with her even though he knows she is crazy as hell and full of drama. Miami is like that crazy hot chick, people will always gravitate to her. They are always willing to give her the benefit of doubt.

Anonymous
Joe
6 years 3 months ago

makes me think — Did you skip your meds today or what?

First of all, except in very rare cases, the Drudge Report doesn’t actually report anything; it’s simply a repository of links, sort of like Google News.

Second, no one here is more over the top on a constant basis than you. Just a few hours ago, RT cracked a joke about moving to Canada and you flew off the handle, as if he was serious. Lighten up, man. Life’s too short to be such a crank all the time.

Anonymous
why bother
6 years 3 months ago
Makes me think, Very objective regarding #28. But don’t waste your breath with the incorrigible Joe. He cannot be cured. I completely agree with the hot chick analysis. You go with her fully knowing that it is going to cost you money and she is high maintenance. But that has not stopped millions of men drooling after the likes of Scarlett Johanssen or Cameron Diaz look alikes. Miami or specifically, a condo or a home in Miami is like a trophy wife or a trophy girl friend. If you want to go to bed with her, then do not compare… Read more »
Anonymous
mishka
6 years 3 months ago
Very Interesting; Condo developers have sky-high dreams for Brickell area Construction on a 35-story condo tower is set to begin in July in Miami’s Brickell corridor. SkyPalace developers hope it will pump new life into the area’s real estate market. Isos Stamelos-Monroe, vice president of sales and managing broker of Skyline Equities Realty, stands on a balcony that faces the future site of a 35-story luxury condo, SkyPalace at Mary Brickell Village. MARSHA HALPER / MIAMI HERALD STAFF BY INA PAIVA CORDLE icordle@MiamiHerald.com Picture a lobby adorned with Roman columns, statues and a Swarovski crystal chandelier. Eleven stories above, a… Read more »
Anonymous
Makes Me Think
6 years 3 months ago
Joe – First of all, except in very rare cases, the Drudge Report doesn’t actually report anything; it’s simply a repository of links, sort of like Google News. Yeah, sort of like Google News and Renter Tom. I guess he does not have political leanings. your comment shows how Naive you are. with regards to Canada I never flew off the handle, you sound like you were sitting in my living room when I wrote the comment. Please read my comment #23 again and explain where I flew off the handle. Talk about over the top, can you be more… Read more »
Anonymous
Joe
6 years 3 months ago

Makes Me Think said: “Miami is like that crazy hot chick, people will always gravitate to her. They are always willing to give her the benefit of doubt.”

— Which people? The 6,000 people applying for a job at Chik-fil-A? I don’t see huge numbers of good jobs or independently wealthy people flocking into Miami.

Anonymous
Joe
6 years 3 months ago
Makes Me Think said: “with regards to Canada I never flew off the handle, you sound like you were sitting in my living room when I wrote the comment. Please read my comment #23 again and explain where I flew off the handle. Talk about over the top, can you be more of a hypocrite?” — Um, RT simply cracked a joke about moving to Canada, but you CLEARLY thought it was a serious comment. Lighten up. You, “why bother,” Gixxer 1000, and F-35 need to relax little. (And how am I a hypocrite? I’ve never said the dollar would… Read more »
Anonymous
Renter Tom
6 years 3 months ago

Wellllllll……..the chicken sandwich really is that good at Chick-fil-A. Perhaps they thought the store was open for business! Just kidding…tasty sandwich though. :-)

I just can’t get exited at all about the real estate market…at least for a place I want to actually live in. I guess we need a bit more pain for things to finally bottom and we start to clear the market. With high unemployment…even if paying with chicken sandwiches…the real estate market is simply NOT poised for appreciation.

Anonymous
Renter Tom
6 years 3 months ago
A commenter on another blog said: “I don’t know the polo pony market very well, but I do know the horse market, from being a trainer and breeder for over 20 years. I do know that it is very hard to sell a horse in the US right now, you can buy a $30-$40,000. horse for $10K, and cannot give away a $10K horse.” – That should tell you something about the second home luxury condo market. Like a horse, you don’t need it and it costs a lot to feed for very little use. At some point at least,… Read more »
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