(305) 323-6231

Contact | Email

South Miami Category

All Eyes Are On Miami!

EWM

Did everyone read last week’s Business Monday cover story about Miami being a leading luxury capital of the world?   It was a WOW moment for Miami where we were defined as “a cosmopolitan playground for the world’s wealthy,” “the American Riviera,” and “a magnet for capital and people from all over the world.” To put it in perspective Miami is:

  • No. 7 of 10 top markets globally according to Wealth Report real estate
  • No. 9 of 10 in luxury real estate markets according to Christie’s International Real Estate (Cote d’ Azur, London and Miami are the world’s most popular second homes)
  • No. 9 globally and No. 2 in the United States in sales of Krug Champagne
  • No. 1 globally in sales of Vilebrequin swimwear
  • No. 2 in the United State in sales of Audemars Piguet watches
  • Way the heck up there in world-wide sales of Breguet watches, Ferragamo shoes & accessories, Burgess Yachts, and Maserati cars

So those are some light-shedding statistics on this great city that I have called home all of my life and sold real estate in for 20+ years (specializing in Coral Gables, Coconut Grove, South Miami, Pinecrest, & Palmetto Bay). The most amazing characteristic of Miami is how resilient we are, and how quickly we recovered from the ‘dark days’ which were darkest in 2007 & 2008. By 2009-2010 we were well on our way to recovery, and 2014 was a record year for real estate sales in both luxury ($1mil+) and non-luxury real estate markets.

You can track the inventory and sales of luxury and non-luxury real estate in Miami for the last 12 years on the two graphs below (click on graph for enlargement):

Over 1 Mil

All

To learn more about real estate in Coconut Grove, Coral Gables, South Miami, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Rents Gone Wild in South Florida!

zillow_logo_RGB_2500px

Zillow released its rent report this week noting an increase in the South Florida rental market in 2014. 775,000 South Floridian renting-households spent $10.5 billion in rent last year. There was a 7.7% increase in the rental market from the year prior! Read more at The Real Deal.

I personally had 17 rental transactions ranging from $1,900 per month to $8,700 per month in Coral Gables, South Miami, Coconut Grove, Pinecrest and Palmetto Bay in 2014; that was almost double the number of transactions I had in 2013! If the first week of 2015 is any indication of this year’s rental market, South Florida will continue the momentum; it is January 6th and I have 3 rentals transactions slated in Coral Gables and the Brickell corridor.

If you or someone you know would like to rent or list a property for rent in Coral Gables, South Miami, Coconut Grove, Pinecrest, Palmetto Bay or the surrounding areas please call me!

Here’s a look at some of my 2014 rental transactions:

13940 SW 73rd Avenue List Price: $4,900/mo

IMG_5741

1110 S Alhambra Circle List Price: $6,200/mo

 

 

 

 

 

 

The Jade $7,000/mo

The Jade Unit 2805 List Price: $7,000/mo

860 Jeronimo Drive  $10,500/mo

860 Jeronimo Drive List Price: $10,500/mo

 

 

 

 

 

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

A Bright Star Has Dimmed in South Miami…Goodbye Hans Huseby:(

mbcr-miami-race-start-line

Hans Huseby, proprietor of FootWorks, father of the Mercedes Benz Corporate Run, a fixture in South Miami for the past 40 years, and THE most wonderful man passed away this past Saturday. So wonderful and loved was he that Sunset Drive from Red Road to SW 59th Avenue was closed last night just to have the space needed to celebrate his life. In the  true spirit of Hans Huseby it was styled as another ‘event’.

huseby1I bought my first pair of running shoes from Hans in the 1980s, my first “Life is Good” shirt from him in the 1990s, and my children got their first Crocs from him in early 2000. I not only sell real estate in South Miami but am part of the wonderful family of South Miami residents, and FootWorks and the Huseby family are part of the landscape. Their famed “South Miami Twilight Run,” which is the right of passage into summer, brings everyone in my neighborhood outside; whether you run, walk, or just water everyone down who comes by.

logo1Hans’ son, JP, summed him up best: “He was perfect in every way, more loving and compassionate and hard-working than anyone I’ve ever known.”  His wife, Laurie, added that “He was ridiculously nice to everyone and made life better for so many people.”  I think those are the true definitions of SUCCESS.

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

How Does the Recent Waterfront Sale on North Bay Road Compare to Coral Gables and Coconut Grove Waterfront Property? Hmm…

A1927296_101_12

5840 North Bay Road, Miami Beach

A magnificent “builder’s acre” (37,895sf) on tony North Bay Road just closed for $15,250,000 (asking price $15,900,000, listed in February, 2014). What the Buyer will do with the existing 6 bedroom/5 bath home, circa 1929, remains to be seen but all are guessing that it is coming down. A Coral Gables-based family purchased the property which makes one ask what could they have purchased on the water in Coral Gables or Coconut Grove for a similar amount?

If you are out shopping for “waterfront” property in Coral Gables or Coconut Grove between $15,000,000 and $20,000,000 there are only six options; four in the Gables (two in Gables Estates, one in Cocoplum, one in Journey’s End), and two in the Grove (one in Entrada Estates and of course the uber cool nest LeGone James just left)

Only Lebron’s house at 3590 Crystal View Court, and 3575 Stewart Avenue in Entrada Estates have the sweeping Bay views that compare to the North Bay Road property, but it would certainly be desirable to live in Gables Estates, Cocoplum, or Journey’s End! Here is a snippet of what’s out there!

9151 arvida

9151 Arvida Lane, Coral Gables

9485 old cut

9485 Old Cutler Lane, Coral Gables

 

 

 

 

 

 

 

 

325 leuc

325 Leucadendra Drive, Coral Gables

A1906833_201_89

300 Costanera Road, Coral Gables

 

 

 

 

3575 stewart

3575 Stewart Avenue, Coconut Grove

A2014251_201_12

3590 Crystal View Court, Miami

 

 

 

 

 

 

 

 

 

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

South Florida by the Numbers!

The Real Deal, which is a daily read or feed for active realtors, released the “Thankful in Miami Edition” today which highlights some interesting South Florida stats. This information isn’t going to make or break your day but they are fun facts:

  • How many hurricanes have hit South Florida since 2005?   0 / Nada
  • What is Miami’s average temperature? 75.9 degrees (Have you seen what is happening across the country this week? Six feet of snow in Buffalo in one day – yikes!)
matheson

Matheson Hammock Park in Coral Gables, FL

Winter Weather

Buffalo, NY

 

 

 

 

 

 

  • What percent increase did South Florida have in median sales prices in the 3rd quarter? 8.7%
  • 001-Welcome_To_Beautiful_515_San_Antonio_Avenue-1281025-mls

    515 San Antonio Avenue, Coral Gables, FL

    What percentage of Miami real estate transactions have been conducted by international buyers this year? 29% This is down from 2013 when then the number was 35% . I am having a hard time believing the number of international buyers is down because I have never had so many international clients. Just this week alone, one property that I have listed in Coral Gables at 515 San Antonio has been looked at by buyers from Italy, Uruguay, Argentina, Venezuela, and Spain.

  • How many people are predicted to pass through MiamiCentral (All Aboard Florida’s downtown Miami station) each year? 12 million!!!! The dollar impact of that is unknown to me but my first thought when I heard about All Aboard Florida was, ‘Where was that when I was trekking to Walt Disney World and Halloween Horror Nights those 30 or so times?”

All-Aboard-Florida_-Map_WebTo learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

What a Difference a Decade Makes!

I’ve sold this flagship building on Red Road in South Miami twice! In 1999 Sunhouse Construction and the developers of Downtown Dadeland purchased the property for $465,000 and when they relocated in 2003 the building was purchased and completely renovated by the very talented Jorge Blanco, DDS, and his dental practice, Images Aesthetic Dentistry.

Today ‘Images’ stands elegantly among a swath of commercial office fronts along Red Road (SW 57th Avenue) between Davis Road and Sunset Drive, in a rather quiet residential section of South Miami (where I am primarily a residential realtor). You would never know this classic Mediterranean   dental office was a mid-century product! It’s timeless, beautiful, and I am proud to have been part of the transaction!

Pre construction 100

7700 SW 57th Avenue (Red Road) “Before”

photo 3

7700 SW 57th Avenue (Red Road) “After”

 

 

 

 

 

 

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Too Tired to Walk On Halloween?

halloween-1

 I’ve had a couple of clients who recently moved to Miami ask me where they can relax and enjoy a Halloween Party with their kids.

If you live in Coral Gables, Coconut Grove, South Miami, Pinecrest, or Palmetto Bay you are in SO much luck! These communities are so exceptional, and I don’t say that because most of my sales are in these neighborhoods; my sales are in these neighborhoods because the communities and the government centers that manage them are THE BEST! Enjoy Halloween Events at anyone of these venues:

 happy-halloween-house-wallpaper

Coral Gables: Halloween on the Mile. From 4 pm to 7 pm, there will be trick-or-treating along the Mile and its adjacent streets. Other activities include story time at Books & Books at 4:30 pm, a children’s costume contest at Actors’ Playhouse at the Miracle Theatre at 5 pm and a doggie costume contest at the Coral Gables Museum at 5:30 pm.

Coconut Grove: Howl-o-ween at Cocowalk. From 2 pm until 7 pm, children are invited to trick-or-treat in and around Cocowalk. In addition to loading up their Halloween goody bags, children will also be able to enjoy face painting, a costume contest, magicians and clowns.

South Miami: Safe Streets Halloween. From 4 pm until 7 pm, the City of South Miami will be closing off Sunset Drive from US1 to Red Road for its annual Halloween trick-or-treating event.

Pinecrest: ‘Track or Treat’ at Evelyn Greer Park. Show up dressed in your Halloween best at any time from 5 pm until 7 pm and join the community trick-or-treating along the track and sampling yummy treats from local businesses.

Palmetto Bay: ‘Where Monsters Go’ at Coral Reef Park. This event begins at 6 pm, with a free movie screening of Hotel Transylvania at 7 pm. Trick-or-treating, games and other activities are just a sampling of the fun that the Village of Palmetto Bay has in store for its residents for Halloween. Children and adults dressed in costume will be automatically eligible to receive a raffle ticket to win ghoulishly.

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Miami Home Prices Up 10.5% in August!

That was tucked away on page 3 of the Business Section in the Miami Herald today (had it been bad news it would have been plastered across the front page!). That 10.5% increase is reflective of the Miami real estate market since August 2013.

I have been selling residential real estate in Miami for 20 years: specializing in Coral Gables, Coconut Grove, South Miami, Pinecrest, and Palmetto Bay. I know that real estate statistics should be looked at neighborhood by neighborhood; it is neither possible nor fair to ‘blanket’ a percentage across an entire town, especially one as diverse as ours. In some areas the prices have far exceeded a 10.5% increase!

65

3551 Main Highway, Coconut Grove, FL | List Price: $65,000,000

Let’s look at the single family home markets from August 2013 through August 2014 in the wonderful communities I spend most of my time in.  Although Coral Gables had a small slip in sales price this past August, it has generally seen more than a 30% increase over the year, and the sales prices in Pinecrest have had a similar increase! The sales prices in Coconut Grove look like they have been taking steroids (wait until the most expensive luxury/waterfront home listed in Miami sells).

There have been months with really strong price increases in Palmetto Bay, but over the year the prices averaged about a 10% gain.  In South Miami, where I live, love, and have sold over 100 homes it looks like we’ve had significant decreases in sales prices but the truth is South Miami has such disparity in the price ranges of the properties and neighborhoods that the numbers can look very skewed.  In the more expensive neighborhoods there is hardly any inventory, but over the next 6-12 months there will be so many newly constructed homes coming on the market and closing in the $2mil+ market that we will see a very strong price increase.

 

Coral Gables

Coral Gables

Coconut Grove

Coconut Grove

South Miami

South Miami

Pinecrest

Pinecrest

Palmetto Bay

Palmetto Bay

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

Trick or Treat on “Happy Street”!

3

2I put my Halloween wares out last night. Actually, we carved a pumpkin about 10 days ago but with all the rain and heat it didn’t fare so well – it had a melt-down so to speak. Our house on “Happy Street” is ready for the Halloween Parade, which is the unofficial name for Halloween night on SW 85th Street in South Miami. “Happy Street” is the unofficial name given to our little stretch of SW 85th Street by Mitchell Kaplan (of Books & Books fame) when he described our cool neighborhood, where his boys often visited friends.

“Our” Halloweens are extraordinary. Hundreds of kids will pass up and down the street between 6pm and 9pm (and then the crazy teenagers come out). I can only compare it to a children’s Mardi Gras with lots of parents in tow.  I’m not sure who has more fun, the big people or the little people!  At just about every door you can grab some candy, a beer, and a slice of pizza.

One of my greatest decisions was buying a home in charming South Miami, the fact that we landed on “Happy Street” was pure luck!

Untitled2To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!

It’s Throwback Thursday!

In 1997 I sold this home in South Miami to very good friends (seems like a lifetime ago). It wasn’t the ‘dream house’ we had been looking for but it had all the makings for it: a beautiful half-acre on a quiet winding street, good floor plan, a giant detached garage that could someday be converted into a guest quarter, and bar none the greatest neighborhood in South Miami, near Epiphany School and Dante Fascell Park, and just behind my own home. For purely selfish reasons  I talked them into this jewel, and nearly 20 years and many good times later that house has seen a new kitchen, new pool, glorious family room and master suite additions, impact glass, and a complete exterior transformation.

I took the ‘After’ picture this morning, and while I was there I thought about our birthday parties, incredible Halloween events, outdoor movie nights, and really fun post-hurricane gatherings.  Made me want the old house back!

 

After 5990 SW 84th Street

“After” 5990 SW 84th Street

Before 5990 SW 84th Street

“Before” 5990 SW 84th Street

 

 

 

To learn more about real estate in South Miami, Coral Gables, Coconut Grove, Pinecrest and Palmetto Bay, contact Val Byrne at val@valbyrnerealtor.com or at 305-323-6231. Val Byrne – Working For You!