New Features of the Miami Condo Investments Blog

February 27, 2008 by Lucas Lechuga

Some of you may have already noticed a few of the new features that have been added to this blog within the last 2-3 weeks. However, I’m sure that many of you are still not aware of some of them. I thought I’d write a blog post to highlight those new features to make everyone aware of them.

  • Miami Condo Listings – You will now find the IDX listings for the major condo buildings located in Brickell, Brickell Key, Downtown Miami, Park West and the Edgewater (the latter three are grouped under the heading “Miami”) at the top of the second column of this blog. There are links to the right of each condo development name to view condo units listed for sale, as well as the units available for rent. Click on the “Brickell”, “Brickell Key” or “Miami” headings to expand each category to view condo developments within each.
  • RSS Subscription – You can also now subscribe to new condo development listings, via an RSS feed, to receive daily updates. Just click on the orange square to the left of each condo development name in the second column of this blog. That should take you to a page to choose the RSS reader of your choice. You will then be made aware of new listings that become available within the building or buildings that you have an interest in via your RSS reader.
  • Miami Condo Statistics – The faithful readers of this blog have probably noticed that I haven’t been as good about providing a monthly update to the Brickell and Brickell Key condo indexes as I have in the past. This is because I’ve been busy working with my developer to provide everyone with something better. My ultimate goal has always been to provide these statistics to people in “real-time”. I want potential investors and buyers to not only view, but also compile, these statistics as they see fit. I also don’t want to limit access to the statistics to only the buildings located in Brickell and Brickell Key. Additional areas of South Florida will be added in future months. If you click on a condo development’s “Sales” or “Rent” link you will find a grid revealing information about the various listings that are either for sale or for rent, categorized by the number of bedrooms. You can now export these grids to Microsoft Excel by clicking on the “Export” link found at the top of each category. This will allow you to compile the statistics as you see fit. By the end of the week, averages should also be presented towards the bottom of each column automatically. Additional statistics, such as pending and closed sales, will be added in future months as well. This is still a work in progress. (Note: Each column heading definition can be found towards the bottom of the page.)
  • Miami Condo Rental Statistics – One of the top questions I receive from investors is “How much can I rent this condo for in this market?”. I’m very upfront and honest but I understand that investors may have some doubts when speaking to a Realtor. I want to provide transparency like no other. I’m now allowing you to look at the numbers for yourself. If you click on a condo development’s rental listings you will find a grid that shows the rental price per square foot categorized by the number of bedrooms in the condo development. Feel free to export those figures to Microsoft Excel by clicking on the “Export” link at the top. I also have future plans to show investors the price that units have rented for within the past 12 months. I want you to know the numbers just as well as I do. You’ll likely not know the product as well as I do, but knowing the numbers establishes a solid foundation for when you call or email me. I’ve been promising a rental condo index for the past couple of months. This is it.
  • View Individual Condo Listings in Miami – Once you arrive at the page showing the available listings within each condo development in Miami, click on any of the listings to view additional information, such as pictures, IDX comments, amenities, MLS number, etc.
  • Miami-Dade County Property Search – The Miami condos search page is back. This too, however, is still a work in progress. The ability to distinguish between waterfront and non-waterfront properties should be implemented within the next couple of days. In the meantime, feel free to utilize this new feature to search for condos in Miami-Dade County. I decided not to add South Florida counties, outside of Miami-Dade County, at this time because I don’t have the time to field those inquiries. However, they too will be added in the future once I find somebody like-minded to accommodate those inquiries.
  • Miami Condos Map – It’s not up yet, but the Miami Condos Map should be available by the end of the week, so keep an eye out for it. This will likely be a great way for people who aren’t local to South Florida to search for properties. The link for the Miami Condos Map will be found at the top of each page once it goes live.

Like I said, this blog is still a work in progress. There are many more features that will be included on this blog in the months to come.  Feel free to leave comments to let me know how I can make this blog even better.

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19 Comments on "New Features of the Miami Condo Investments Blog"


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Anonymous
Sideliner
8 years 6 months ago

LUCAS this site is amazing!!!!Thank’s for bringing back the property search.Will you also have the NEW listing search?? Thank’s and GOOD LUCK keep up the good work.

Anonymous
8 years 6 months ago

Sideliner, Thank you! It will have a new listing search for the past 5 days. Is 5 days enough or do you want to see the newest listings for the past 10 days or more? The link for that will appear on the property search page. However, for the first couple of months it will only show the newest listings in condo buildings that appear on the second column of front page. Down the road it will include additional areas of South Florida.

Anonymous
8 years 6 months ago

Lucas-

Your blog is the best. When I am ready to make a purchase (either in 1800 club or in Quantum), you’ll the FIRST person I will call. I think all of us here value your honesty and forthrightness, and will undoubtedly seek your counsel when the time comes for a purchase.

Anonymous
Gustavo,
8 years 6 months ago

Lucas/anyone

Is it true that within the same bldg a parking space may not be assigned to a particular condo? Some condos were sold in Brickell without parking space whether others in the same blgd were sold with it. Why the MLS and other listings don’t specify whether or not a condo has an assigned parking space?

thanks,
gustavo

Anonymous
8 years 6 months ago

Cecil, Thank you. I appreciate the feedback. I’m glad that people are finding the information and tools useful.

Gustavo, Most condos come with at least one deeded space. There are some, however, that will only allow you to valet your car (such as Ten Museum Park). This is not the norm though. In recent years, it has become more common to see buildings only deed one parking space per condo unit despite whether it is a 1, 2 or 3 bedroom unit.

Anonymous
8 years 6 months ago
Gustavo, The MLS is not completely accurate when it comes to listing information. Sometimes Realtors will rush in an input the property but forget to put in the actual parking space number. They may list the unit as having an assigned parking space. As far as spaces being deeded – many times developers will state this in the contract “The Purchase Price also includes the exclusive use of one parking space to be located within the Common Areas. At closing, Buyer will receive an assignment of the exclusive right t0 use such parking space, said space to be selected by… Read more »
Anonymous
gustavo
8 years 6 months ago

how much is worth a parking space in Brickell?
If you have a choice of buying two condos (same model in the same bldg) but one without parking space what should be the difference in the selling price of the condos?

Anonymous
Mikel
8 years 6 months ago

nice work

Anonymous
8 years 6 months ago

I’ve seen parking spaces sold in Brickell Key around 20K to 30K.

In New York they can go to 6 digits in high end luxury buildings

Anonymous
cyrus
8 years 6 months ago

Lucas,

today’s WALL ST JOURNAL article was regarding the vulture condo buyers in miami but didn’t really express the real ‘vulture’ buyers. more about the guy in PA who wants a place down here now that prices have come in.

is there much true ‘vulture’ buying yet? where someone steps in a buys 50 units for cheap? the article’s headline didn’t really explain the article well … what it really explained is how things could go lower basically due to the huge amount of existing and future inventory. was this the article you had been mentioning?

Anonymous
8 years 6 months ago
I’ve seen parking spaces advertised between $20000 – $30000 in the area. It would be beneficial for you to have at least one parking space with your unit. Most tenants want 2 spaces. Valet parking for your second car never works. There simply are not enough spaces for everyone in a building. However I think it is tough to sell a parking space separate from a unit if you bought an extra- you have to sell it to an owner of a unit within the building most times and it is of course easier to factor it into a mortgage… Read more »
Anonymous
8 years 6 months ago

Cyrus,

I haven’t heard about any true vulture buying in Miami yet. Most developers are leasing the defaulted units that they get back rather than sell them in bulk.

Yes, that’s the article that I was talking about. It actually pissed me off because I spent the entire day with the reporter and I wasn’t referenced even once. A complete waste of my time.

Anonymous
jcrimes
8 years 6 months ago

zalewski is stealing all your thunder lucas!

Anonymous
Vianca
8 years 6 months ago

Lucas, I’m one of those undecided Wind by Neo buyers. I’ve heard horror stories about people closing on their condos and later getting hit with an assessment to cover maintenance for unsold units….Any feedback would be appreciated.

Anonymous
NJ
8 years 6 months ago

Vianca, I too am undecided but at Quantum and am interested if this is what could could be expected in other buildings.

Anonymous
8 years 6 months ago

Lucas,

Are the RSS feeds for each building supposed to show the listings for rent and for sale? I click the RSS icon but nothing shows up.

Anonymous
8 years 6 months ago

Alex G, I believe that it does send you new rental and sales listings to your RSS reader. It works fine for me.

Anonymous

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Anonymous
8 years 6 months ago

Lucas, good work. I just hope there will be more coverage or exposure for South Beach condos as that is the area I am most interested in.

Thanks.

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