Week in Review: How to Avoid the Federal Disclosure Law for Cash Purchases and Other News…
Rendering from Paramount Miami Worldcenter
Week of January 17-23, 2016.
The US Treasury announced this week that starting in March, title companies will be required to disclose the identities of buyers to government regulators for all cash purchases above $1 million in Miami’s residential real estate market. They are hoping to put a stop to illicit funds being laundered through the cash purchases, but effectively are also spooking legitimate buyers who simply do not wish to have their buying habits publicly disclosed.
Fear not, fancy condo shoppers. The ink is not even dry on the new order and The Real Deal has already compiled a list of 7 ways that the rule can be circumvented. [The Real Deal]
Last week, the developer of Miami Worldcenter announced that it is scrapping the plans for an enclosed mall just days after Macy’s announced multiple store closings due to slow sales. After this announcement Taubman and Forbes cancelled their contract with Worldcenter, causing a flurry of rumors and news stories stating that the project would be scrapped. It turns out that everyone jumped the gun. According to the developer and this Taubman release, the project is not scrapped. The contract just needs to be renegotiated to reflect the new building plans. [Zacks]
While everyone was up in arms about the potential drama at Miami Worldcenter, Brickell CityCentre released their updated list of all retailers, shops and restaurants that will be opening with the mall. The shops will begin individual build-out soon and is scheduled to open later in the year. [The Next Miami]
In possibly the least surprising news of the week, Car2Go finally announced that they are suspending service effective March 1. They say that the reason for the service-shuttering is low ridership and high state taxes, locals have not wasted time or minced words with their own theories. It seems they have been in trouble with their client base for some time due to poor handling of a PR incident involving a drunk driving accident, not offering service in many important areas of the community, poor customer service and unreliable service. We think it can be easily explained by simple economics… why pay more to drive yourself in a shared smart car with a complicated service when you can pay less and have an Uber car pick you up at your doorstep and drop you off wherever you want to go? The choice is simple. [Curbed]
Introducing an All-New Miami Condo Investments Website
As you may have noticed, there have been some changes recently made to the website. Well actually, there have been A LOT of changes made. In fact, what you see before you is an all-new Miami Condo Investments website. Not one single page is the same. From start to finish, the project took 12 months to complete.
This time around, I went with a completely new website development team. That means that the design and development work had to be done from scratch. However, that gave me the opportunity to take a big step back and reimagine the process from A to Z. Going in, I brought with me a lot of original ideas in regards to design and functionality. Basically, I took everything that I’ve learned over the years about design, development, search, and search engine optimization and applied it to this project. It became for me a smorgasbord of dream website features. And my website development team came through in spades. They were able to execute to perfection my vision for the new website.
Below, I have included a short list of some of the many innovative features that you will find throughout the new website:
We have developed the most advanced condo search ever. A buyer or renter can now perform a cross-reference search against neighborhoods and condo developments of their choosing. For example, let’s say that you have decided that you would like to live in Brickell, Brickell Key, or Downtown Miami and, from those neighborhoods, only wish to consider Icon Brickell I, Icon Brickell II, Brickell House, Carbonell, Three Tequesta Point, and Epic. With our new search, you can select Brickell, Brickell Key, and Downtown Miami from the list of neighborhood options and then, in the next step, select the six developments that you wish to consider. From there, you can use a number of refining filters in order to pinpoint the properties best suited to your needs. It’s a much more efficient way to search for a condo development and will reduce search time dramatically. Give it a try and see for yourself: Miami Condos Search.
The rationale behind developing this new condo search is that today’s consumer is more informed than ever. Blogs, message boards and forums, product review sites, peer-to-peer social networks, and photo- and video-sharing websites are just a number of online resources that are at the disposal of today’s consumer. Oftentimes, buyers and renters will already know what they want long before they even get to me. Based on their own research and advice from friends and family, they usually have it narrowed down to just a few neighborhoods and a handful of condo developments. From there, they typically turn to a real estate professional such as myself to filter and narrow down their search even more using as a base the neighborhoods and condo developments that they had preselected. With my new search, the consumer can retain control of their search to the very end before forwarding to me their short list of units that they would like to view in person.
I finally got around to creating a ranking score for each and every condo development on the website. Also, I tweaked the ranking system from a 5-point ranking system to a 6-point ranking system. As a result, the rankings are much more accurate and indicative of consumer demand. Although the ranking scores are meant to serve as a guide to those newly acquainted with the Miami condo market, I think even seasoned real estate agents will find my scores to be dead-on.
Statistics
I’m a numbers guy, so of course my wish list of website features had to include real-time statistics for both neighborhoods and condo developments. I’m confident that these will prove to be highly resourceful to buyers, renters, sellers, Realtors, and journalists alike.
Mobile First Design
The new website was designed first and foremost for mobile devices. It is 10x easier to design for a desktop computer than it is for a mobile device, so that part was cake once we had the mobile designs finished. Thanks to the inclusion of a mid-navigation bar and slider throughout the website, getting to the information you seek is just a tap away while holding a mobile device, drastically reducing the need to scroll vertically in an effort to find what you’re seeking.
With this handy tool, one can quickly compute the positive or negative effect that currency fluctuations have on real estate values, condominium association dues, and property taxes. We’ve included over 160 currencies and precious metals with daily spot prices dating back to 1998. (Yes, we’ve even included BItcoin!)
Pocket Listings
We now have the ability to include “pocket listings” on the Miami Condo Investments website. Pocket listings are listings that do not appear on the MLS and are instead advertised by other means. Sometimes sellers, for various reasons, will list their property with a real estate agent but require that it not be included on the Multiple Listing Service. For example, a seller may decide to go that route in an effort to keep a friend or family member from finding out about the sale of their property, oftentimes because that friend or family member is a real estate agent new to the industry and they prefer to list with a seasoned professional. Also, for various reasons as well, developers oftentimes prefer to keep their inventory off the MLS.
The pocket listings on the Miami Condo Investments website appear highlighted in yellow and alongside other MLS-listed inventory within the same development. To see an example, take a look at the available sales page for Parc Lofts. Unit 503 is a pocket listing.
Photo Blog
The website now includes a self-contained photo blog called Miami Megapixels. I have a lot of big plans for this website. For now, I’ll leave it at that.
Floor Plans
This is one area that is still a work in progress, mainly because I want the floor plans to look and function just as great on mobile as they do on a desktop computer. To do it the right way, It is a very long process. I’m hoping to roll out a set of floor plans for two developments per week. To see examples of how they will look, visit the condo profile pages for Marina Blue and Elysee.
Texting
People love texting, and so do I! Oftentimes, it can be a convenient and quick way to communicate. Customers can now text my office by clicking on the phone icon found at the top of the website. It’ll then launch the default SMS messaging app on their phone with my office number already pre-populated.
Frequently Asked Questions (FAQs)
We’ve spent many months researching and inputting questions and answers pertaining to the many condo developments and neighborhoods that appear on the website. And we’re still not done. In regards to condo developments, we’ve included such questions as Is the condo development pet-friendly?Which utilities are included in the condominium association dues? and What is the phone number for the condo development’s management office?. For neighborhoods, we’ve included questions such as How many parks/green spaces does the neighborhood have? and How many grocery stores does it have?
Later this month, we will be rolling out agent pages for the agents on my team along with another great feature that I can’t wait to share with everyone. As always, any comments or feedback that you may have would be greatly appreciated. They will all be taken into consideration and possibly implemented in the updates we plan to roll out later this month.
Miami Condo Investments Welcomes Diana Garayar
We are pleased to welcome Diana Garayar to our team! Diana comes to us from Northern Virginia, where she was raised prior to seeking her International Business Degree from FIU in 2008. While studying, she fell in love with the international vibe of Miami and decided to make it her home.
Today she focuses on the areas of Brickell, Downtown Miami, Edgewater, Midtown and Miami Beach and has experienced success in all types of residential real estate from investment sales, vacation homes and yearly rentals. She is a star performer due to her genuine and trustworthy demeanor paired with the dedication to offer 24/7 availability to her clients. She is committed to helping her clients through the decision making process with ease and peace of mind and we feel very honored to have her on board.
Diana has immersed herself in the active South Florida lifestyle and can rarely be found sitting still. When she is not working with her clients, she can be found running, biking and enjoying the many outdoor activities that are afforded to Miami residents year round. She is also an avid practitioner of Bikram Yoga. Welcome, Diana!
Miami Condo Investments Welcomes Ryan Davis
After more than a year of success as one of our agent partners, we are happy to welcome Ryan Davis as a member of the Miami Condo Investments team.
Ryan is joining us from Douglas Elliman with two years of experience in the Downtown area market that includes Brickell, Downtown, Omni, Edgewater and Midtown Miami. At Douglas Elliman, Ryan was the top performing member of the sales team led by Sarah Elles Boggs. He is especially talented in the art of quickly introducing new residents to a neighborhood and finding the ideal space for them without being pushy even when time is limited. Clients have repeatedly commented on his “above and beyond” attitude and level of service.
We are very pleased to have Ryan on board and are looking forward to a bright future for Ryan, for Miami Condo Investments and especially for the clients who will benefit from his talents.
Sarah Elles Boggs Joins Miami Condo Investments as Team Leader and Social Media Manager
I am pleased to announce the recent addition of Sarah Elles Boggs to the Miami Condo Investments team as Team Leader and Social Media Manager. Sarah Elles joins us from Douglas Elliman with 12 years of real estate experience under her belt and a proven track record of success. Among her many current and past achievements, Sarah Elles was honored as one of Brickell Magazine’s Top 20 Professionals under 40 in Miami, chosen to serve as a board member of the 2014-2016 Young Professional Council for the Miami Association of Realtors, and chosen as one of Florida Realtors’ State Directors for 2014-2016.
Sarah Elles also has a solid understanding of how to drive consumer sales through social media. Much of her success in real estate has been attributed to social media and knows all too well the importance it has in building and maintaining client-agent relationships. In 2013, Sarah Elles appeared on Realty Biz News’ list of “100 Must Follow Realtors on Twitter”.
I am delighted to have Sarah Elles as a member of the Miami Condo Investments team and am confident that she will play an integral role in its development and growth in years ahead.
The green area under the Metrorail line in Brickell has historically been the dividing line between East Brickell and West Brickell, but will soon be a thriving park area reminiscent of Manhattan’s High Line. The co-designers of the famed park have unveiled a master plan for the green area under the rail line stretching from the Miami River all the way to Dadeland.
While the 10 mile master plan in its entirety is ambitious, it is also supported by local businesses, governments and locals alike, all of who have been searching for more park space for some time in our community. The initial $5 million government grant is proposed to build out the Brickell section as a demonstration project so that the success story can be taken back to the state Legislature for additional support. Previous requests for additional funding have been approved by the state Legislature but vetoed by Gov. Rick Scott.
The Brickell section of The Underline will feature a riverfront seating area, picnic areas, outdoor gym, shaded play area and a MUCH needed dog park. An area of naturally formed oolite will be incorporated into a play area with a rock climbing wall. Once completed, each stop of the Metrorail will boast different community friendly features to improve the nearby communities.
On Monday November 9, the Friends Of The Underline support group will host another presentation of the plan in its’ entirety. This will be the last opportunity that the public has to comment on the master plan before it goes to the Miami Dade County Commission for approval. Here is the information of this presentation for those who would like to attend:
After what seemed like a long hiatus, I’m back in full working mode. About three months ago, I decided to take a step back from blogging to allow myself adequate time to train for my upcoming Ironman Florida race. I am happy to announce that the race went extremely well and I am now officially an Ironman. I completed the race in 10:13:32. It was my first Ironman race ever, and even more incredible is the fact that it took place just five months after completing my first triathlon ever.
Expect to hear much more from me in the months ahead. If you are on Google+, be sure to circle my Miami Condo Investments business page. There you will find news and other content related to the Miami real estate market. To learn more about my personal interests and hobbies, circle my personal Google+ page. As of late, I have become a very active member of Google+ and find it to be a much more robust and powerful social platform than either Facebook or Twitter.
Fundraising on Behalf of Camillus House in Conjunction with my Ironman Florida Race this November 2nd
I am sure that many of you have noticed by now that my blog has sat dormant for almost an entire month. It is for good reason though. That was around the time that I decided to get serious about training for Ironman Florida this November 2nd. The race will take place in Panama City Beach, Florida and, as with all Ironman triathlons, it will challenge me to swim 2.4 miles, bike 112 miles and run 26.2 miles in under 17 hours. In conjunction with the event, I am fundraising on behalf of Camillus House, a non-profit organization which services the homeless throughout Miami-Dade County. I have also committed to donating to Camillus House 10% of all real estate commissions I personally earn up until race day. This is a great opportunity for me to give back to the community and I am truly excited about the positive change that my fundraising efforts will bring to the homeless throughout Miami.
If you have a similar interest in helping the homeless in Miami, please visit my fundraising page and contribute what you can. Your generosity will be greatly appreciated!
Welcome to the New and Improved Miami Condo Investments Blog and Website!
As you have probably noticed by now, there have been a lot of changes made to my website and blog. This is probably the fourth or fifth version of the Miami Condo Investments website but by far the one of which I am most proud. This project started back in October and the number of hours that were put into it, by myself and my website developer’s team, is quite incredible. Coupled with everything else I have had on my plate over the past couple of months, it is surprising that I have been able to get any sleep at all. First and foremost, I want to say that this website is still a work in progress. Long-term, it always will be. In the short-term, there are some bugs/issues that we are working through and some planned enhancements that you will see rolled out over the next couple of months. Regardless, your input and feedback is greatly welcomed and appreciated! Please let me know if you encounter any bugs or issues while navigating your way through the website.
The old adage says that buying real estate is all about the three L’s – location, location, location. That may very well be true but I think the flip-side to that is the three P’s to selling real estate – presentation, presentation and price. As everyone knows, the right price will always sell real estate but when marketing luxury real estate, it is presentation that matters most. That was at the foundation of this new website. Presentation matters most! Any real estate agent can sell real estate at the right price. My goal is to sell real estate at the right price for my client – provided it is realistic. In a market like Miami’s, selling high-end real estate is about eyeballs. The more eyeballs you get on a piece of property, the greater the chance you have of selling it. Miami luxury real estate has an international audience and, in order to get the most eyeballs on it, it needs to be presented in a glamorous, yet profound way.
Gone are the days of 500 pixel pictures to sell real estate. If you want to try to pawn your used Xbox 360 to the world, then that 500 pixel picture might very well do the trick. For luxury real estate, however, 500 pixels just doesn’t cut it anymore. Luxury real estate deserves to bask in all its glory. When weighing out my options for my new website, there was no better choice, by advice of my website developer, than to incorporate a responsive website design. It is the future! Any website developer who tells you otherwise is either too lazy to learn how to implement it and/or hasn’t figured out the intricacies for doing so. It can be quite complicated. Did I mention that this project has taken almost six months?
You might be asking yourself – What is a responsive website design? In a nutshell, it allows someone to show an image/picture at full resolution while taking into account the viewer’s display orientation and size. Basically, the image/picture transforms itself to accommodate the viewer’s display and therefore allows itself to be presented in the best way possible. Allow me to demonstrate:
The above picture is from the balcony of a $14.5M condo listing that my broker recently acquired. As you can see, the front row view you would have of the Atlantic Ocean and the beach down below is exquisite, to say the least. As a seller, wouldn’t you want this view to be captured in all its splendor for everyone who might be interested in purchasing? Of course! That is where a responsive website display comes into play. If you’re sitting at a desktop computer, then take the bottom right-hand corner of your browser and move it up to the upper left-hand corner. You will see the image above begin to transforms itself to accommodate your display. In fact, this entire website will transform itself. It is sort of like a Transformer Decepticon in digital form. If you are viewing on a mobile device, then the picture above is likely already at full capacity. Not much you can do because we have already got you covered.
In the coming weeks, I will write more about responsive website design because I really feel that I, and my website developer, have left all other real estate agents in the dust with this one. As a seller, you should gather your troupes and make sure that you are aligned with someone who has the technology to present your luxury real estate in the most fashionable way.
Coming Soon: A New and Improved Miami Condo Investments Website
Behind the scenes, my business has seen a lot of big changes take place over the past couple of months. It has been an extremely hectic time for me with most days me getting only three to four hours of sleep. I’ll get into some of the other big changes at a later date. For now, I want to discuss a project that has been a little over three months in the making and something for which I am extremely proud of and excited. My website developers and I have been working diligently to put together all the pieces of the puzzle to create a masterpiece real estate website that will truly wow people. Our end goal when undertaking this project was to create a real estate website for consumers which is pleasing to the eye but also quick and easy to use. In a nutshell, we wanted to simplify my existing website and eliminate all of the clutter. The screenshot above shows what we came up with for the homepage.
It should immediately be clear that the Miami luxury real estate market will now be at the forefront of my business. That does not mean, however, that the mid-level market, which has been at the core of my business for years, will be abandoned. The new iteration of my website will continue to include the mid-level market but present it in a more sophisticated manner.
Below, you will see what we came up with for the building profile page. I like to think of this page as having a left and right panel. At all times, the left panel will display the picture slideshow for the condo development along with its description underneath. The right panel is where the magic and innovation happens. Clicking on the tiles in the right panel will cause content related to that tile’s description to suddenly slide into view. No new page to load and, most importantly, no need to scroll. All of the information is hidden off the screen ready to jump into view upon request by the user. When creating the design for this new website, we kept desktop, tablet and mobile users in mind. As a result, we went with a responsive website design. For those not familiar with responsive website design (RWD), the simplest way to explain it is that the design of the website transforms to respond to the size of the user’s display. See the third screenshot below to see what the second screen would look like on a tablet or smartphone with a vertical orientation. It is important to note that this is not a mobile-only version of the website. This is the exact same page but it has “responded” to the user’s display and has transformed itself automatically.
We plan to have the new website launched by the end of this month…so stay tuned.
