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juditmiltz · 6 years

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Why high-end home auctions in South Florida are the next big thing

41 Arvida Parkway

Imagine a red carpet leading to a waterfront South Florida estate where refreshments are served as deep-pocketed investors mingle, ready to raise their paddles in a heated competition to spend millions of dollars for a mansion.

That is an increasingly frequent scene playing out on local shores. Auctions of luxury homes are growing in popularity, as sellers opt for the certainty of a fixed sale date that comes with putting a home on the block. It also allows them to tap into an auction house’s database chock full of wealthy buyers worldwide, and limits expensive carrying costs on high-priced properties that can otherwise take years to sell.

Amid an overall sluggish sales market, auction companies say business is booming this year, with an increasing number of luxury listings either referred by sellers or by brokers who can use them as a sales tool, earning commissions on the deal.

“If you have the Hope Diamond or Jackie Onassis’ pearls or a rare Duesenberg automobile, you go to auction,” said Jim Gall, founder and president of Miami-based Auction Company of America. “And it’s the same principle for homes or condos.”

Auction company CEOs and real estate agents say the advantages to the seller go well beyond a quick closing. An auction can boost marketing muscle and create competition for a property. The sales are also considered “clean” — free of contingencies and financing — and come with six-figure deposits, which means a likely closing.

“This is the way the wealthy and uberweathy have chosen to buy real estate in the 21st century,” said Marc Hameroff of Engel & Völkers Miami. He is co-listing a $68 million waterfront estate at 41 Arvida Parkway in Coral Gables with Lourdes Alatriste. The home is set for an online auction by Concierge Auctions from March 19 to 22.

The growing popularity of auctions is evidenced in how Concierge’s business has ramped up in Florida. The number of sellers the firm spoke to rose from 102 in 2016 to 292 in 2017 and 522 in 2018, Concierge founder and President Laura Brady said. The company auctioned six properties in Florida in 2018 and is on target to hold 16 auctions statewide this year, which would top its record of 12 auctions in 2009.

“Florida is one of the leading markets for us in the $20 million-plus category,” Brady said.

Naples-based Elite Auctions has also seen its volume of properties grow, up 125 percent from 2017 to 2018 and up more than 150 percent so far this year, said Randy Haddaway, founder and CEO. He is also seeing an increase this year in sellers calling directly, to 75 percent from 65 percent.

“Traditionally, a house north of $10 million will take two to three years to sell,” Hameroff said. “Concierge will spend north of $250,000 in a six-week period and will get eyes on [the Coral Gables property] that would not normally see this, from all around the world.”

The benefits for sellers

A wider audience of potential buyers is just one of the reasons why luxury homeowners are going the auction route. Other reasons? The sheer size of the inventory of luxury properties, and the length of time they can linger on the market. In the fourth quarter of 2018, 183 single-family homes of $5.9 million or more were on the market in Miami Beach and the barrier islands, according to Douglas Elliman. The eight top-tier homes that closed in that period took an average of 349 days to sell — or almost a year. At that pace of sales, it would take 68.6 months to sell all the inventory — or almost six years, according to the Elliman report.

“It’s a buyer’s market, and sellers are going to have to look to other ways to create excitement and interest in their properties,” Gall said.

Once a property has lingered on the market for several months or years, it’s considered stale. “There’s no greater challenge a property faces than the stigma of sitting there too long and not being sold,” said Trayor Lesnock, founder and president of Miami-based Platinum Luxury Auctions. Meanwhile, taxes, insurance, landscaping and other maintenance costs can add up, along with mortgage payments, if there are any.

Huizenga’s 1575 Ponce de Leon

“Frustration is a big motivator — frustration that the traditional brokerage process has not given them any results,” Lesnock said.

And sellers often are eager for their next steps, like buying another property. “These people made money by being in charge, solving problems, and here is a problem they can’t figure out,” added Lesnock. An auction “gives them certainty and lets them move on with their lives.”

Kristina Gustafson used Platinum to auction her Wellington farm in 2017.

“The key is you get more buyers to the table and you get a definitive closing date,” said Gustafson, who was a Realtor at the time with Southfields Real Estate.

“I got what the property was worth on that day, and I was happy with it, and I was done,” said Gustafson, who currently owns three farms and a house in Wellington. “That was the big quotient. I was emotionally done, physically done, and I was ready to go on.”

How the auctions work

In South Florida, auctions are held live onsite at a property with registered bidders in person or either by phone or online. Concierge handles most of its auctions online, which has led to lawsuits alleging that the company used fake bidders to increase the price of homes or to make sellers think there was more interest in their properties than there really was, according to a Wall Street Journal report. Concierge has denied all the allegations.

Brady said online auctions offer privacy, transparency and the convenience of being able to bid from anywhere in the world. “Anyone can log onto the site and see the bidding of all auctions open and see bids and bid numbers,” she said. The bidders are anonymous.

Elite, on the other hand, only takes bids onsite. “Online — we don’t trust it. We don’t like it,” said Haddaway, its founder. “I like to see wealthy people competing against each other and seeing each other in person.”

Auctions can also have disadvantages, including the possibility of getting a lower sale price than the seller was hoping for. And if a buyer emerges who wants to lock in and buy the property before the auction date, the seller may cancel, but may be responsible for marketing costs that could be in the hundreds of thousands of dollars.

“The buyer comes in thinking they’re going to get a deal, and the seller thinks they will finally be able to move the property,” Haddaway said. “Is every seller satisfied with the number? Not everyone.”

In the world of auctions, properties can be sold with a reserve — a minimum bid — or without a reserve, which is referred to as an absolute auction.

Not having a reserve is “critical,” said Tim Elmes of Coldwell Banker Residential Real Estate-Fort Lauderdale Las Olas. With a reserve, “it’s like pissing in the wind. It’s a waste of money,” he said. “There’s no driver for people to come to the auction. If it’s absolute, they will fly in from out of town.”

Elmes recently had the listing and brought the buyer for a waterfront home in Fort Lauderdale Beach that sold for $8.1 million at an auction held by DeCaro Auctions International. There were 21 registered bidders, and Reno, Nevada-based real estate magnate Don Norman had the top bid for the mansion, which had been listed for nearly $13 million.

“I didn’t recommend the auction for this house,” Elmes said. “I think we could have sold it for more if had been priced correctly.” Yet the seller was happy with the outcome, he said.

The entire auction process, from listing to closing, can be completed in less than 90 days. Auction companies generally take about six weeks to market a property before holding the auction, and the buyer generally closes about a month after.

Before an auction is held, buyers are required to put down a bidder registration fee of $100,000 to as much as $250,000. Then the winner must put down more after the auction, to reach 10 percent of the sale price.

Buyers also usually have to pay a buyer’s premium of 10 percent, which covers the commissions. Gall said he started the practice for real estate auctions 35 years ago, borrowing the idea from Sotheby’s and Christie’s, which use it in their fine art auctions.

The commission split varies with the deal, said auction experts. “When a Realtor brings us a deal, we come up with a split advantageous to the listing Realtor because they are under pressure from the seller,” Gall said.

Lamar Fisher, president and CEO of Pompano Beach-based Fisher Auction Company, said 30 percent of his business comes from brokers, versus 70 percent from sellers. He offers added incentives to agents. “We can reward them if a broker brings us a prequalified bidder, and they ultimately win, they get additional points of commission.” The highest bidder

In recent years, auction companies have seen more homes that are listed for $20 million or more, with one recent sale breaking an auction record.

Concierge, along with listing broker Ralph Arias of One Sotheby’s International Realty, handled the sale of “Le Palais Royale,” a 60,000-square-foot waterfront estate in Hillsboro Beach late last year that marked the highest price ever achieved for an auction in the U.S., Brady said. Eleven potential buyers bid for the property — above an average of eight bidders, she said. In the end, records show, Teavana co-founder Andrew Mack paid $42.5 million for the estate, a massive discount from the original $159 million asking price in 2015.

Billy Nash, founder of Nash Luxury Real Estate at the Keyes Company, said he is “a big believer in the process” of auctioning a home. As the listing agent, he suggested that the Fort Lauderdale waterfront mansion of the late H. Wayne Huizenga go up for auction. It hit the market last year, asking $27 million. Concierge has set the auction for March 26, with no minimum bid.

“To get the global attention that trophy properties deserve, having an auction and creating a finite time frame to bring buyers to the table to me adds tremendous value,” Nash said.

But the luxury home auction that really started it all, according to Fisher, took place in 2013 and involved the future president.

It was the onsite auction of the Versace mansion in Miami Beach. The Nakash family ultimately paid $41.5 million for the estate but the backup bidder was Donald Trump, said Fisher, whose company held the auction. “He told me, stop at $37 [million] and he stopped at $41 [million],” Fisher said. Eric Trump was onsite, but Fisher said he dealt directly with Donald Trump.

Fisher is now set to auction embattled developer Robert Matthews’ Palm Beach mansion at 101 Casa Bendita on March 28, by order of a U.S. bankruptcy court. Previously listed for $44 million, it has a $31 million reserve. Federal officials have charged Matthews, the former developer of the Palm House Hotel in Palm Beach, with multiple counts of wire fraud, bank fraud and money laundering over the unfinished development.

Amid the ongoing slow luxury sales market, Fisher expects auctions to keep thriving. He is now in negotiations with several sellers of condos in Sunny Isles Beach and South Beach and is hoping to have those auctions on the books soon.

Fisher sees it as a trend emerging. “The next wave is going to be the luxury condo, penthouse market,” he said.

from The Real Deal Miami https://therealdeal.com/miami/issues_articles/luxury-real-estate-auctions/#new_tab via IFTTT

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billionaireaddresses · 6 years

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Head of French real estate company sells Miami Beach mansion for $8.5M (Photos)

A company headed by French commercial real estate executive Philippe Ginestet sold a new mansion along Biscayne Bay in Miami Beach for $8.5 million.

Shore Property, managed by Ginestet, sold the 8,083-square-foot home on S. Shore Drive to South Drive Property Trust. It’s not clear who owns the trust. The seller was represented by Florian Jouin of ONE Sotheby’s International Realty.

Read more and…

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#mansion for sale #Miami Beach mansions #new mansion #Philippe Ginestet #Philippe Ginestet former house #Philippe Ginestet house #Sotheby’s #trust #trust buys mansion

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architectnews · 3 years

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John Steinbeck’s Eden, Sag Harbor NY

John Steinbeck’s Eden For Sale, Sag Harbor Home, New York State Residence, Historical Property, Architect, Images

John Steinbeck’s Eden in Sag Harbor

Sep 9, 2021

John Steinbeck’s Eden

Design: Blaze Makoid Architecture Architects

Location: Sag Harbor, New York, USA

John Steinbeck’s Sag Harbor Home is for sale, priced at $16.75 million

Source: toptenrealestatedeals.com

For the first time in 60 years, the Sag Harbor oceanfront cottage and octagonal writing retreat where John Steinbeck wrote The Winter of Our Discontent and Travels With Charley are for sale, priced at $16.75 million. It was Steinbeck’s self-described “Eden,” his home from 1955 until he died in 1968.

One of America’s most important writers with both a Nobel and Pulitzer Prize, Steinbeck’s classic works include the novella Of Mice and Men (his dog chewed up the original manuscript) and the novels Grapes of Wrath and East of Eden.

John spent most of his early life in Southern California where he worked odd jobs, including farmworker, handyman, and tour guide before his success as a writer in his early 30s. Many of his best works were inspired by the people of California and from the trips he took across the United States.

Although California was his home state where there is a National Steinbeck Center Museum and where his Salinas boyhood home has been restored and open to the public, Steinbeck moved to New York in 1941, switching between New York City and Long Island’s Sag Harbor. At first a vacation and weekend getaway, in 1955, Steinbeck bought a Sag Harbor waterfront cottage, the place he called “my little fishing place,” where he stayed for most of the rest of his life.

With almost two acres and views over Morris Cove and Upper Sag Harbor Cove, Steinbeck built a writing hut where he could work with no distractions and water views over Morris Cove and Upper Sag Harbor. The writing hut is still intact and carefully preserved much as it was when Steinbeck left with his dog in 1960 to begin his 10,000-mile road trip that became Travels with Charley.

Steinbeck took a huge interest in Sag Harbor, helping to start the town’s annual whaling festival and the landmark Beebe Windmill construction, where the Sag Harbor Chamber of Commerce is now located. In 2019, Sag Harbor dedicated a town park in his name.

Steinbeck’s beloved cottage and writing hut are located on 586 feet of waterfront on two sides with emerald lawn and a scattering of old-growth shade trees, the property includes a pool, which Steinbeck referred to as his “cement pond,” a guest house, and one of his favorite things: a 60-foot pier from which he enjoyed fishing.

The main cottage has two bedrooms, two baths and a large stone fireplace in the living room, which has beamed cathedral ceilings. The Steinbecks created a library loft above the living room. Throughout the cottage are many windows and French doors that let sunlight spill across the rooms. The next owner will be able to sit in the writer’s hut rereading Steinbeck’s novels that were penciled on a yellow pad while sitting in this very spot.

Sag Harbor and its Hamptons surrounds have long been a celebrity magnet. Richard Gere, Jimmy Buffett, Howard Stern and Paul Simon are a few of the A-listers who are happy homeowners in the Hamptons.

The listing agent is Doreen Atkins, Sotheby’s International Realty, Bridgehampton Brokerage.

Source: www.sothebysrealty.com

Photo credit: Richard Taverna for Sotheby’s International Realty

John Steinbeck’s Eden, Sag Harbor, New York images / information received 080921

Location: Sag Harbor, New York, USA

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New House in East Quogue, Southampton, Suffolk County, New York Design: Barnes Coy Architects photograph : Paul Domzal This site has views of both the Atlantic Ocean to the south and Shinnecock Bay to the north.

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Comments / photos for the John Steinbeck’s Eden, Sag Harbor – NY Real Estate on Long Island page welcome

Website: Sag Harbor, NY

The post John Steinbeck’s Eden, Sag Harbor NY appeared first on e-architect.

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macdonaldandwood · 4 years

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Looking For South Shore Real Estate in the MA Area?

There is something about the infinite expanse of blue that soothe the soul and sparkle the imagination. Does a morning run around the sea? Or, will you find the fishing line for the sole purpose to free your mind? If you are looking to build an efficient home?—you have come to the right place. We proudly serve new Homes for Sale in the South Shore and surrounding areas. Understanding Real Estate and How It Works What is Real Estate? Real estate is the land all along with any everlasting improvements close to the land whether natural or manmade. It is the form of real property but differs from personal property which is the things not permanently attached to the land. There are five categories of duxbury real estate such as residential, industrial, commercial, raw land, and special use. Types of Real Estate Here is the list of five types of Real Estate: • Residential Real Estate: It encloses the both construction and resale homes. It is an important category in single-family homes. • Commercial Real Estate: It comprises all shopping centers and strip malls, hotels, malls, offices, medical and educational buildings. • Industrial real Estate: It includes manufacturing buildings and properties. These buildings can be used for research, storage, and production of goods. • Raw Land: It involves vacant lands, working farms, and ranches. • For Special Purpose: Properties used by the public such as government buildings, libraries, places of worship, parks and schools, and many more. How the South Shore Real Estate Industry Works Real Estate affects the U.S economy by being a decisive driver of economic growth. Construction of new buildings in South Shore Homes is a component of gross domestic products. It includes all industrial, commercial, and residential buildings. In spite of the magnitude and complexity of the real estate market, merely many people think of it as brokers and salespeople. South Shore best real estate agent who are professional and provide monthly reports on the number of homes resold on their average prices. Early Spring Jump Start your Property Value: The Massachusetts South Shore Real Estate January is the time for resolutions. For those of us in the real estate industry in the early spring is the most appropriate time for resolutions. It is completely undeniable that cooperation especially in the context of real estate transactions is the key. Our professionals diligently work on your behalf and provide you the best experience possible. At Liz Bone services and products are provided by independently owned and operated franchises, related to Sotheby’s International Realty Affiliates LLC. Our Listing In: • Residential • Land • Rentals • New Construction • Commercial Properties In conclusion, our selection of manufactured homes includes a variety of styles and suits all tastes. Interested in the sale of homes in the South Shore, our experts are here to help you. Please stroll our new homes for sale at [email protected] and feel free to contact us to learn more about us. Click here https://lizbone.com to get to know our team.

#Looking For South Shore Real Estate in the MA Area?

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blackrockflips · 4 years

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Under contract........ Our newest high end renovation! Call or DM is for viewing! Located in South Shore in Lake Las Vegas Listed at $1,400,000 5 Bedroom 6 Bath 4,882 SQ FT 50’ RV Garage with 14’ roll up door that’s Air Condition! This fine almost 3000 sq ft of garage includes epoxy floors and heated water to wash cars complete with a workshop area with bathroom! Enter the home through extra large front door into a double height formal living room and discover a fully remodeled home. The chief kitchen features grand design and all new stainless steal appliances. Enjoy the breakfast nook with lots of sun light or a more formal dinning experience in the evening. In addition the Primary Bedroom located on the main floor! Purchase includes Sports Club Membership a $10,000 value provide by Gene Northup & Synergy Sotheby’s International Realty. #BlackRockFlips #BRFlips #Investor #FixandFlips#Flips #Renovation #RealEstate #LasVegas #Rehab #HomeImprovements #homerenovation #Househunting #newhome #homedecor #home #Homeideas #RenovationIdeas #flipping #Henderson #homeremodel #cashflow #homebuyers #LakeLasVegas #Landscape #luxury #luxuryrealestate #luxuryhomes #luxurylifestyle #dreamhome 5260 S Decatur Suite #6 Las Vegas, NV 89118 BlackRockFlips.com [email protected] FaceBook Twitter Instagram (at Black Rock Flips) https://www.instagram.com/p/CECbqDOn29L/?igshid=1n4nzkvzlcbsj

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nightmare-afton-cosplay · 7 years

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Palm Beach Notches Big-Ticket Home Sales

Alexia Fodere for The Wall Street Journal

Maureen Donnell sits on the shaded terrace of her Palm Beach estate, where a sweeping lawn meets her private dock on the Intracoastal Waterway. Swathed in a high-necked purple blouse with gold bracelets jangling at her wrists, Ms. Donnell points out a row of antique French statues depicting the four seasons by the swimming pool. A housekeeper in a crisp blue and white uniform appears bearing iced tea and cookies.

Just a mile to the north, it is far less peaceful. Here, police cars with flashing lights encircle the Mar-a-Lago Club, where President Donald Trump is spending the holidays. Nearby, Trump supporters hold signs saying “Proud Deplorable” and “Welcome First Family.”

Ms. Donnell—widow of John R. Donnell, whose family founded Marathon Oil —has spent decades wintering in Palm Beach, where waterfront homes like hers are among the priciest in the world.

In particular, the narrow stretch of South Ocean Boulevard just south of Mar-a-Lago is known as “Billionaires Row,” with residents that include Blackstone CEO Stephen Schwarzman and rock star Rod Stewart.

The posh Florida town has made headlines lately not only because of frequent presidential visits, but because of an unusually high number of big-ticket home sales.

Worth Avenue in Palm Beach is home to upscale stores and restaurants

Alexia Fodere for The Wall Street Journal

Last January, Chicago hedge-fund manager Kenneth Griffin paid $85 million to buy an estate adjacent to the massive oceanfront parcel he assembled in 2012 for a total of nearly $130 million, according to public records.

In April, former Los Angeles Dodgers owner Frank McCourt Jr. bought an oceanfront home next to Mr. Griffin’s property for a recorded $77.06 million. Down the street, Gerald Herz of Switzerland in March bought a spec home on the Intracoastal Waterway for $31.59 million, according to property records.

“This past year has been unusually active in the high end,” said Cristina Condon, an agent at Sotheby’s International Realty.

The flurry of mega-sales may be due, in part, to the publicity Palm Beach has received during the president’s visits. But residents say these large deals also might stem from a broader sea change emerging in the area.

Once viewed as a bastion of older high-society snowbirds, Palm Beach is becoming a little younger as hedge-funders such as Mr. Griffin and Paul Tudor Jones flock to the island, drawn by low taxes, picturesque scenery and sunshine.

“This town has changed in a very big way,” says investor Jeff Greene, who bought a beachfront home on Billionaires Row in 2009 and lives there full time with his wife, Mei Sze Greene, and three young children.

In the past, “I never cared for this area,” he said, describing the Palm Beach of yore as an “old-world society town.” But after spending some time in Palm Beach, “we found it was very different,” he said. “For families, it’s great.”

The oceanfront home of Jeff Greene and his wife, Mei Sze Greene, on ‘Billionaires Row’ in Palm Beach (exterior seen above)

Alexia Fodere for The Wall Street Journal

Seventy miles north of Miami, Palm Beach is a narrow barrier island sandwiched between the Atlantic Ocean and the Intracoastal Waterway. The town of Palm Beach has about 8,700 residents, according to census data, but the population swells to roughly 15,000 during the winter season, according to the Palm Beach Chamber of Commerce.

Just south of Mar-a-Lago, South Ocean Boulevard, the island’s main north-south artery, swings away from the shore, allowing an elite few to possess estates with direct ocean access. That’s what drew Mr. Greene to his 4-acre beachfront home, which originally was designed by famed architect Addison Mizner in the 1920s.

Sitting barefoot on a terrace just steps from the sand, he notes pelicans flying overhead. “See? That’s what you don’t get anywhere else—the connection with the ocean.”

The dining room of the home the Greenes share with their three children.

Alexia Fodere for The Wall Street Journal

After buying the roughly 9,000-square-foot house for $24 million, he rebuilt much of it and expanded the footprint to about 40,000 square feet. Beyond a swimming pool, a wooden walkway leads to the sand, where the orange and white striped umbrellas of Mar-a-Lago are visible a few hundred feet away. An elaborate play structure for Mr. Greene’s children sits beneath palm trees.

Jeff Greene and his wife, Mei Sze Greene, at their oceanfront estate.

Alexia Fodere for The Wall Street Journal

In 2016, Mr. Greene founded an elementary school, the Greene School, to serve the burgeoning population of area families.

Mr. Greene said he was inspired by another Palm Beach resident, William I. Koch, who started the high school Oxbridge Academy in 2011. A billionaire industrialist, Mr. Koch’s brothers are major political donors Charles and David Koch. William and David, who are twins, both have homes on South Ocean Boulevard.

The area also attracts people in other fields, Mr. Sammons noted. Or as he put it: “There are cool people moving into Palm Beach.”

Casino mogul Steve Wynn paid $20 million for his lakefront property in 2014; he’s now listed it for $24.5 million. Bottega Veneta Creative Director Tomas Maier in 2014 paid $16.6 million for Concha Marina, the landmark former home of Mr. Trump’s ex-wife Ivana.

Christopher Leavitt, an agent at Douglas Elliman Real Estate, cited the recent renovation of the 1950s-era Royal Poinciana Plaza, which houses a Hermès store. Palm Beach is becoming “much hipper,” he said. “It is no longer the place where you went to visit your grandparents.”

Longtime resident Eddy Louis lives in a columned Regency-style home designed around 1959 by the architect Clarence Mack.

Alexia Fodere for The Wall Street Journal

Longtime Palm Beacher Eddy Louis lives south of Mar-a-Lago, in a sky-blue columned Regency-style home designed around 1959 by the architect Clarence Mack. His half-acre property is located in a cul-de-sac off South Ocean Boulevard.

He put his roughly 6,000-square-foot home on the market for $12.95 million in 2015 before changing his mind about selling. He refers to himself as “the poor guy on the block.”

“There are homes that have 40 bedrooms,” he said. “I only have seven.”

Mr. Louis put his Palm Beach home on the market for $12.95 million in 2015, but said he later changed his mind about selling.

Alexia Fodere for The Wall Street Journal

Of his neighbor, Mr. Trump, Mr. Louis said whatever your politics, “it’s a pain in the neck when he’s in town. It kills that peaceful serenity. Once he leaves we’re like, ‘ahhhh.’ ”

It is unclear what, if any, effect the presence of a sitting president is having on the local real-estate market. Despite the recent big-ticket deals, the overall luxury market in Palm Beach has suffered during the past year, along with high-end markets nationwide.

In the third quarter of 2017, the average sales price for a luxury home in Palm Beach dropped 33% to $8.68 million, down from $12.98 million for the same period in 2016, according to a quarterly market report from real-estate brokerage Douglas Elliman.

Despite these numbers, agents said the market has picked up in recent months.

There are a number of Billionaires Row estates lingering on the market. In 2016, Il Palmetto, a lake-to-ocean estate owned by Netscape co-founder Jim Clark, hit the market for $137 million. The restored 1930s Italian Renaissance mansion saw its price reduced to $115 million before being taken off the market this past fall.

Villa Venezia, a lakefront Venetian-style residence owned by the estate of the late investment banker Damon Mezzacappa, has been on the market for more than a year. Initially, it was priced at $67.5 million but it has been reduced to $59.5 million.

The post Palm Beach Notches Big-Ticket Home Sales appeared first on Real Estate News & Insights | realtor.com®.

from https://www.realtor.com/news/trends/palm-beach-notches-big-ticket-home-sales/

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lizbone · 2 years

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Advantages of Hiring a Realtor While Looking For Buying a Property

Everyone knows it can be browsing the internet for your next home, but working with a realtor can make a big difference when purchasing a new house. A buyer's real estate agent can help you find the best home and place you on the path of homeownership. With hundreds of active realtors all over the country, you have your choice to find the right real estate agent to complement your personality and one who will guide you to get precisely what you want from your next or first house.

So, here are sharing other benefits of hiring an Best Real Estate Agent to buy a house:

They will get you a house at a better price

When you hire a realtor in the purchasing process, they help you get the best for your budget. They know when a home is priced well, very high, or too low. They are well experienced in this market and know how much the value is held in the neighbourhood too. While anyone can sit for a moment and fetch all the information on the sale of comparable houses, real estate agents are experienced to know whether the home is overpriced or underpriced, and they will have an idea of what exactly you are looking for rather than wasting time touring houses that will not work.

Helpful in saving your time

If you have done your home research, then you already know how long and complicated this idea can be, and it is also time-consuming. However, when an agent understands the specifics of what you are looking for in a house property, they can discard anything that is out of your criteria. Also, realtors attend open houses and events every time in favour of their buyers, so the buyers' time doesn't go to waste. Therefore, hiring a real estate agent is a great way to avoid searching for homes that will not even work for you.

They have negotiating skills

Buyers and sellers want to get the best possible real estate deal and to attain this, and you should have savvy negotiation skills. Also, it seems challenging to negotiate directly with sellers or buyers, which is why you should use a realtor. Real estate agents are skilled negotiators as they have years of experience in negotiation under their belt. They understand what will work out and what not. Furthermore, your realtor has always to endeavour to get the best possible price - whether you sell or buy a property. Finally, and most significantly, they do not have any emotional stake in the outcome. They can think freely.

So, these are some benefits of hiring an agent when you want to purchase a Houses For Sale In South Shore Massachusetts or elsewhere.

Final Thought

Buying a house is always complicated and even more complicated when you handle it alone or without an agent's guidance. But when you hire a realtor, they are responsible for everything from finding a home to fixing a deal at a better price. Therefore, hiring a realtor is a must for buying a home. If you also want to buy a house and are looking for the best real estate agent, you must contact "South Shore Sotheby's International Realty." They help their clients with consulting and helping throughout the process. To connect with them, visit their official website lizbone.com.

#HousesForSaleInSouthShoreMassachusetts

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southshoresir · 2 years

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Essential Things You Must Consider When Buying a House for the First Time

When you finally save up enough money, you surely are so excited to buy your first home. People spend months searching for the perfect house for their needs as they have to consider many things before deciding on one. Some houses for sale in South Shore can be a bit older but are located in a great neighborhood and have plenty of space for growing families. Calling a real estate agent is also a great idea, but there are a few essential things that you must consider yourself. With that being said, let's take a look at the vital things you must consider when buying a house for the first time. Decide How Much You Can Afford The amount of home you can afford is determined by several factors, including your income, debts, and down payment. You'll need to look closely at your finances to determine how much you can realistically afford to spend on a new home. It's important to remember that you'll also need to factor in closing costs, moving expenses, and other one-time costs associated with buying a home. Once you have a realistic budget in mind, you'll be able to start shopping for your dream home. Just stay within your budget, so you don't get into financial trouble. With a little careful planning, you'll be able to find the perfect homes for sale south shore MA for you and your family. Hire a Real Estate Agent Hiring a best real state agent will remove almost every stressful task from the process. All professional real estate agents are adept at handling all the paperwork and negotiating with the party and will give you the best options. Real estate agents also attend the closing with you and visit all types of open house events to ensure everything goes according to plan. Keep an Eye over the Credit The only thing that decides whether you'll be able to get a mortgage is your credit score. Not only this, but credit score is also responsible for the interest rate you'll get from a lender. A good credit score will help you with the loan and even get you many other benefits. To ensure you benefit from your credit score, you must get multiple copies of your credit reports and fix any errors that can negatively affect your score. Also, you must pay your bills on time and keep your credit card balance low. Final Words

So, these are the essential things you must consider when buying a house for the first time. However, if you need the right choice and need the best real estate agent in South Shore, you can consult South Shore Sotheby's International Realty.

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roseamber · 4 years

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Find open houses for sale along the South Shore MA. Search and filter South Shore homes by price, beds, baths & property type. Macdonald & Wood Sotheby's International Realty pride themselves on providing professional service to buyers & sellers of houses for sale. Contact us today!

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samuelmmarcus · 4 years

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50 Staircase Railing Ideas

Some staircases have no railings or handrails, some have them. Staircase railings, however, are ideal, if not essential, to have for safety reasons.

Other than for its functional purpose, they give staircases visual presence and add a stylish look to your home.

Staircase Railing Tips to Remember

Every time you are remodeling your home or building a structure in your home, there is always a building code to remember for people’s safety. Staircase railings have several of them too.

First, railings are required any time stairs have a total rise of at least 30 inches from the ground surface, or when there are four or more stairs. Stair railings or handrails have to be the proper height to ensure the safety of everyone using it.

According to the residential code, the handrail height should not be less than 34 inches and more than 38 inches above the top of the stair tread. A minimum hand clearance of 1 ½ inch from the wall is required.

If your stairs have two railings on both sides, the minimum distance between them is 27 inches, providing enough space for people to walk. Additionally, if there is only one railing, the handrail must be at least 31 ½ inches from the wall without handrail.

It must also be remembered that the handrails and railings should be able to support at least 200 pounds. All these building codes and regulations may vary per community.

How much do staircase railings and handrails cost?

Depending on the style, the cost of staircase railing ideas will vary. The more complicated the staircase railing style is, the more expensive it will be. Typically, the price range is from $336 to $572.

No matter the price range, you should consider staircase railings for everyone’s safety, especially for people without a good sense of balance.

Staircase Railing Ideas

There is an impressive and spectacular variety of styles and models of staircase railing ideas, from which you can choose from. Some are crafted from wood, some with steel, and others of iron, vertical wiring, and even glass.

Staircase railings are like the frame to a staircase as in painting: they complete the visuals of the architectural structure. Let’s take a look at staircase railing ideas!

Wood Railing

Traditional railing

South Shore Millwork

This traditional railing with its straight balusters is a simple yet elegant design. The handrails are painted black to match with the stair tread, and the balusters and skirtboard are white. The black and white accent makes it look clean and refined.

The kicker for this design is the newel post resembling a lighthouse. The tiny lamp is definitely a nice touch.

Vertical wood railing

Moontower

On one side of the stairs where there is a wall, there is a simple wooden handrail. On the other side are finely crafted vertical wood railings that touch from the ceiling to the floor.

This railing design is perfect for this mid-sized staircase.

Rustic staircase

Jeffrey Dungan Architects

Rustic homes like this fit it with a rustic staircase railing design. The rough-hewn wood beams make up the entire railing system. It perfectly complements the home’s architectural elements and its furniture.

Spiral railing

Michael H. Masilotti Architects

Spiral staircases obviously tend to have spiral railings. For this one, the dramatic yet elegant curve of the rich and polished wood railing winds along the spiral staircase’s frame.

The entire structure is made from the same wood, forming a congruous and beautiful architectural piece in your home.

Classic wood railing

Greg Robinson Architect

Everything about this staircase and railing screams classic and vintage. The way the risers and the railings are all made of polished wood perfectly blends in with the vintage look of the living space.

The wooden balusters are finely crafted and spaced between straight ones to offer variety in style. This staircase was renovated to fit into the 1911 Tudor-style home.

Traditional and flared

Southern Staircase

This elegant traditional staircase adds flavor to its style for the curved frame at the beginning. The railing follows along this curve. The brown handrail carves out the frame leading down to the volutes on either side.

The newel posts and balusters are slender. The fluted balusters are white to match the risers while also complementing the brown handrail and posts.

Instead of the broader and heavier box newels, this staircase has Belle Meade newels instead.

Broad wooden railings

Marble Crafters

The wooden railings and the wooden paneled walls make a grand and vintage look to the staircase, in contrast to the concrete treads.

The heavy balusters support the broad handrail and completely complement the beautifully carved heavy posts.

Oar railing

Smith & Vansant Architects

This entire staircase is made of wood. The white and brown colors contribute to a contemporary look. But the highlight of this staircase is the boat oar balustrade.

The stylistic choice was made to match the fact that this staircase is from a lake house.

Double handrail

Southern Staircase

A traditional staircase that exudes class and elegance. The white balusters match with the risers. This particular staircase has two handrails on each side of the stairs.

The first one curves along to form the top of the volute newel. The second handrail is just below, easing and turning around to the volute as well. This and the white balusters appear to form around the newel posts on the starting step.

Hand-carved Medieval stair

MW Design Workshop

This staircase was inspired by medieval theme and style. The entire railing – from the exciting newel post to the spiral handrail to the custom balusters – were expertly hand-carved.

Wood and metal railing

Modern Craftsman style

WJM Architect

This straight wooden staircase boasts of a modern Craftsman style with the wooden handrails and newel posts. The balusters are fine wrought ironwork.

The combination gives a classic yet modern railing design.

U-shaped staircase railing

Zahn Builders

The sleek wooden handrails connect to Craftsman style newel posts. Up, above the landing tread, two landing newels are fit side by side, linking the two flights of stairs instead of having a rail drop.

The balusters are made of wrought iron, alternating between single and double knuckles. The treads match the neat brown paint of the handrail and newel posts which sit perfectly in contrast with the white risers.

Modern helical stairs

Trabczynki

This concrete staircase is cladded in oak wood to give it a sophisticated and clean look. Instead of the regular structure with newel posts, this staircase opts for the handrail to drop in a curve, owning to the overall framework of the staircase.

In addition, instead of the regular balustrading, this staircase has a stylish helix-like structure for balustrade which is made of forged stainless steel.

Dark hardwood and iron baluster

Sotheby’s International Realty

The dark hardwood lining the floor and essentially making up the staircase accentuates the beauty of this foyer. All but the balusters, which are made of wrought iron, are made of the dark hardwood.

Usually all the newel posts are of the same size and shape. But in this one, the landing newels are different from the much broader and carefully carved starting newel.

Wood railing and metal newel

The Modern House

The clean wooden railing matches with the light brown wooden treads. The newels are slender metal supporting the handrail.

In the absence of a vertical balusters, there is a slab of marble acting as the railing and running parallel with the handrail. On the other side of the staircase, the vertical metals act as wall and railing.

Wood railing with metal handrail

The English Room

At first glance, this black staircase railing looks like it’s all made of wood. The simple newel posts are completed by the cross design for balusters. The crisscrossed railing also act as handrail guard for the metal handrail.

With the simplicity of the railing, it perfectly complements the rustic design of the staircase.

Rustic modern

Douglas Design Studio

The entire framework of this staircase’s railing is made of metal. The handrail is exposed inside, towards the run of the staircase. But the metal balusters are clad in rectangular blocks of wood to create the wonderfully spaced wooden balusters.

This design gives the staircase a rustic yet modern look.

Detailed metal work

Meadowlark Design+Build

A modern and contemporary staircase. The detailed iron work for the railings looks like some art piece in a museum. They never quite touch the treads but are supported by the metal newel posts. The iron railings seemingly act like a curtain.

Meanwhile, the handrail is capped with fine wood and some of the treads extend outward to create shelves. The color scheme also completes the look for a modern staircase.

Curved balusters

Soucie Horner

The sleek and slender wooden handrail matches with the treads. The metal railing is not simply just vertical balusters spaced out uniformly.

Curved balusters alternate between straight vertical ones, so when light hits, it creates an illusion of waves.

Intricate scrollwork

Ernesto Garcia Interior Design

The intricate wrought iron scrollwork immediately catches attention. This makes the starting newel interesting as the scrollwork frame and form into a hollow post.

It is complemented by the beautiful and polished wooden handrail.

Steel spindles

Special Stair & Rail

A contemporary flared staircase which at first glance, looks ordinary enough. While the staircase is predominantly made of red oak wood, the railing is made of stainless steel spindles in an erratic pattern which makes it unique.

Curved sweeping staircase

MW Design Workshop

Instead of a straight landing which is usual in U-shaped staircases, this staircase curves and sweeps. So, the steel balustrade by the landing also curves and so do the wooden handrails as they turn.

Wood and glass railing

Contemporary glass rails

South Park Design Build

This small staircase was customized with the wooden handrail which continues down to the post. The stringer is also wooden, making the railing system like a wooden enclosure.

The wooden railing system does enclose thick glass as the staircase’s balustrade. Notice that there is little space between the glasses and the glass with the wooden post.

Sleek black steel

Walker Workshop

This staircase combines three of the common materials that a lot of staircases are made of. The handrail is made of wood. But the skirtboard is made of steel wherein the glass balustrade is connected to.

Such design makes it look like the staircase is enclosed by the sleek black steel.

Glass strips

Edwards & Hampson

An open plan staircase is made to look modern with glass strips functioning as the balustrade. The designers chose a rather minimalistic style with the square newels and flat capping.

This railing design helps bring in more natural light into the home.

Framed glass

Lapis Design Partners

While most glass railing are attached on the outside, by the side of the stringer or skirtboard, on this staircase, the glass follows the shape of each rise of the staircase, fitted in place into the stringer.

A wooden handrail is present and it seemingly frames the glass above.

Curved glass panels

Special Stair & Rail

A modern staircase made more impressive with the curved glass panels for its railing and the maple wood framing it. With the towering windows this home has, the choice of glass railing was best to let a lot of natural light in.

Modern rustic staircase

Special Stair & Rail

The newel posts of this staircase is made of reclaimed timber which gives the rustic appeal of the staircase. Installing the glass panels makes it modern to contrast the old timbers.

Metal railing

Curved metal railing

Dayna Katlin Interiors

The railing curves along with the staircase’s framework. The entire handrail is made of iron, complementing the concrete staircase. The newel posts are slender but finely crafted iron. Instead of the balusters being on the treads, the balusters are fit into brackets and are attached to the skirtboard of the staircase.

Detailed iron railing

Country French Magazine

Everything about this staircase screams elegant. First, the wrought iron railing perfectly curves along with the staircase’s framework. The detailed balusters are fitted into decorative brackets to the side.

The sleek handrail leads to a beautifully carved newel post that is set on the floor instead of a starting step.

Plate steel staircase

Iron & Wire

This folded plate steel staircase is seemingly floating without a skirt but is actually supported by a steel beam beneath the treads. There is also the absence of balusters, leaving it with the sleek black handrail and newels.

The entirety of it being made from sleek metal is so expertly crafted to become this modern staircase.

Screen rails

Wheeler Kearns Architects

This one spiral staircase has a modern and industrial look to it thanks to the metal railing. The railing system is quite interesting. The handrails look disjointed instead of being a single continuous curve along the spiraling staircase.

While the handrail is made from wood, the screens that are in place instead of balusters are made from steel. The metal railing suits the metal treads of the structure.

Wavy railing

Trillium Architects

Made from metal, this staircase’s railing could be just like any other railing. If it not for the wavy rails, it would be so. Instead of the same old horizontal railing, the metal were forged to form the wavy structure on the railing.

Rich details on railing

Beer Architectural Group

The sleek wooden handrail comes down to a volute, curving along the staircase’s curve. But the real highlight is the wrought iron railing.

In contrast to the wrought iron balusters, this iron railing is rich in details, making the staircase even more elegant and charming.

Woodland railing

Elegant Iron Studios

This staircase’s railing is made of iron that was forged with intricacy. Attached to a wooden base rail, the wrought iron were forged into a woodland railing with oak leaves.

The design perfectly fits the woodland aesthetic of the home.

Knuckles and scrolls

Hochuli Design & Remodeling Team

This staircase’s railing was previously made of wood but was renovated into this elegant wrought iron railing. The newel posts are capped off with finials.

The iron balustrade is a mix of plain balusters, single knuckle, and some iron scrollwork.

Sleek spiral iron

Everwood

This breath-taking spiral staircase is from a European-inspired home. The sleek iron railing follows the brown and cream color scheme of the house.

Instead of being attached on the treads, the balusters and newels are fitted to the side. The balusters alternate between scrolls, plain, and knuckle style.

Metal and glass railing

Clean glass railing

SAOTA

The clean cut of glass serve as the railing of this staircase. Metal handrail is mounted on the glass so it faces inside of the staircase.

The white open risers and the transparent glass gives the staircase an open and free feel to it.

Industrial staircase

Ikonos

This striking steel of a staircase curves down. On one side, the glass railing curves along the staircase’s framework. On the other side, there is a steel handrail to grasp on.

The handrail matches with the treads and the overall industrial look of the living space.

Colored glass railing

Elegant Iron Studios

This railing’s main framework is made of stainless steel. The light grey color helps accentuate the colored glass panels that make the staircase unique.

The colored panels differ in colors, shapes, and sizes to provide variety and beauty.

Modern glass staircase

Alter Urban Architecture

This modern glass railing follows along the flight and landing, fitting into the stringers. The metal handrails follow along the direction of the glass railing.

Glass railing

Glass railing with metal handrail

Mayes Office

Unlike the previous staircase railing examples, in this one, a separate handrail is absent. The entire glass railing serves as the entire railing system for this staircase.

Perfectly cut glasses are fitted into the concrete skirtboard. The treads are made of stone that perfectly match the concrete framework. It also complements the glass railing which gives a modern look.

Tinted glass railing

AE Arquitectos

Forget clear glass railing, check out this staircase with tinted glass rails. The glasses are perfectly fitted into the metal skirtboard to go hand-in-hand with the wooden treads. The absence of a separate handrail makes the glass the handrail and balustrade.

Also, note that because the glass is a dark tint that lights were installed on the side of staircase for safety purposes.

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Spiral glass railing

Stimamiglio

Many spiral staircases are railed by either wood or metal materials. But for this one, the railing is made of glass.

With the glass railing and the open risers, this staircase lets in a lot of natural light.

Wood, metal, and glass railing

Textured glass panel

Duffy Design Group

Instead of the regular glass staircase railings, this one uses textured glass panels. Each glass is then framed to form an elegant railing.

Frosted patterned glass

Sullivan Building & Design Group

Here is another staircase with frosted glass for railing. But this time, the frosted glass is patterned into geometrical shapes.

The glass panels are also framed but in a continuous manner.

Wood and cable railing

Cable rail

Wheeler Kearns Architects

This staircase uses cables as the main material for staircase railing. The cables connect two different flights of stairs through the extended part of each of the wooden treads, serving like a wall of cables.

A wooden handrail is supported by metal posts that are positioned on the outside portion of the treads.

Cable railing

Crisscross cables

John Maniscalco Architecture

Rather than straight cables connecting from top to bottom, this staircase has cables in a disorganized crisscross pattern for its railing. On the other side, a wooden handrail is mounted to a wall division.

The handrail is mounted on by a metal handrail extension. In such design, safety is ensured on either side of the staircase.

Wood, metal, and cable railing

Cables and panel division

Studio Build

The railing framework is made of steel with the handrail cladded in sleek wood that matches with the treads. Instead of steel balustrade, this staircase’s protection is the cable railing.

On the other side, a decorated panel division is placed to act more like as a guard rail.

Metal and plastic railing

Resin panel

Elegant Iron Studios

This staircase has stainless steel railing with horizontal rails instead of the vertical metalwork. The sleek black color offers a simple and contemporary look. However, the seagrass resin panel in between the sections of steel railing act as a rail of its own adding variety to the staircase.

There are still more creative staircase railing ideas out there. Hopefully, this list has helped you get inspiration for your staircase railing for your home!

from Home https://homedesignlover.com/interior-design/staircase-railing-ideas/ via http://www.rssmix.com/

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walterfrodriguez · 4 years

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South Florida’s residential sales shift to virtual reality as business slows

From left: Edgardo Defortuna, Stephan Burke, Ron Shuffield, Ana Bozovic, Carol Cassis, and Mark Zilbert

Early this month, a buyer in Germany bought a Miami Beach house without ever setting foot in it. The $750,000 cash deal was done entirely using FaceTime and e-signature technology. It closed on March 11, the same day that President Trump imposed a 30-day travel ban from Europe and the World Health Organization declared coronavirus a pandemic.

The agents involved in the sale of the bayfront Normandy Shores home said the showings, inspection and walk-through were all done virtually, because the buyer purchased it as an investment and “didn’t need to see it.” The listing agents, Douglas Elliman’s Carol Cassis and Stephan Burke, and the buyer’s agent, Marion Ott, also with Elliman, said the sale is proof that deals can not only close virtually, but the whole process can be done online.

Cassis and Burke, like others, are hosting open houses virtually, especially as business grinds to a halt for many real estate agents during the coronavirus pandemic. Agents are blasting out emails encouraging buyers to take a virtual tour “during these times of social distancing” and even offering tips to staying productive while working from home.

A screenshot of an email from One Sotheby’s agent Alexandra Peters

Virtual deals

In the case of the Miami Beach home, though the buyer was not physically present, the agents were there. Someone had to show the house – multiple times, so that the buyer could see how the lighting hits at sunset – and during the inspection and walkthrough, Burke and Cassis said.

With FaceTime, buyers and agents can communicate in real time, said Ott. “Clients can ask questions. ‘Can you go into that bathroom again? Or, ‘Can you show me that closet again?’ It��s very real.”

The Normandy Shores home (Credit: Douglas Elliman)

Developers of luxury condos are also joining in on the virtual world. At Ritz-Carlton Residences, Miami Beach, Lionheart Capital is offering tours via FaceTime. Though sales centers are closed throughout South Florida, including at 57 Ocean in Miami Beach and Ritz-Carlton Residences in Sunny Isles Beach, virtual showings and closings can still occur.

The Estates at Acqualina in Sunny Isles Beach, which is under construction, is providing virtual tours of the model residence, walk-throughs, digital presentations and FaceTime conferencing with the sales team. The developer, Trump Group, is also offering online meetings with its lead designer to select finishes, and launching virtual amenities, including a virtual book club for brokers and clients.

OKO Group is among the developers tapping into technology to avoid a total shutdown in sales. At Missoni Baia in Miami’s Edgewater neighborhood and at Una Residences in Brickell, the developer is offering full video tours of the sales gallery and amenities, via YouTube, virtual meeting scheduling with agents, and online access to the floor plans for the projects under construction.

Edgardo Defortuna, president and CEO of Fortune International Group, which is handling sales for both developments, said that agents are still showing units at Fortune projects, but there are many fewer showings.

“If they come to see it now it’s because they’re very, very interested and could be signing contracts,” Defortuna said.

Fortune is prepared to market properties virtually because the firm is so active internationally, he added. “The presentations are all there. We just need to put it in a more consistent package. … The message is changing slightly to promote real estate and Miami as a whole as a very safe investment,” Defortuna said.

At Ritz-Carlton Residences in Sunny Isles, where closings began last month, the developer and sales team are planning to close on 30 units this week with virtual notaries. Buyers can send a representative to the walk-through, or they can postpone the walk-through and the developer will honor any issues they may have when the buyer can come to the property in person, Defortuna said.

Find me a deal

Amid the pandemic, fewer buyers made offers last week, according to Berkshire Hathaway HomeServices EWM Realty President Ron Shuffield. Yet, he said the company’s sales volume increased 30 percent from the previous week, likely due to buyers and sellers rushing to close due to coronavirus.

Shuffield, who’s still working out of EWM’s Coral Gables office, said the brokerage has been “pleased to see how many people are using our online tools and videos.” The company, like many others, is encouraging working from home and the use of web meetings and calls.

Shuffield does not anticipate a drop in property values, but acknowledged that there will be opportunities for buyers, comparing the health crisis to a nationwide hurricane “with no end in sight.”

Mortgage money in flux

Meanwhile, Centennial Bank, an Arkansas-based community bank with branches in Florida, is still closing new loans but it’s “becoming more and more difficult to do business,” according to David Druey, regional vice president in Florida.

Druey expects that some would-be residential borrowers will see their mortgage rate locks expire as the coronavirus crisis continues. Most locks are only good for 30 days, and are dependent on a borrower’s employment status and income remaining the same.

“You’re seeing people start saying ‘OK, let’s take a pause here. I want to wait and see what this looks like,’” Druey said. “Every day is a new day. … Everyone had a different mindset a week or two ago.”

Now, residential brokers across the country have been getting standardized coronavirus-related legal language and addendums from their attorneys, title companies, brokerages and trade organizations to help buyers manage risk.

Closing agent Sebastian Jaramillo said he has several pending deals in the next couple of weeks that are up in the air, though some closings have occured. At least two deals have fallen through while they were in the due diligence period, according to Jaramillo, a partner with the Miami-based firm Wolfe Pincavage.

“The disruption was enough reason for a lot of people to back out,” Jaramillo said.

And he expects pricing to fall for residential properties. “Given the amount of small businesses or institutions headed to a decrease in income and permanent loss in revenue, a lot of people are not willing to purchase homes at this point,” he said.

Lending is still happening, with some lenders able to do remote closings, according to some developers. Yet overall, Jaramillo said the market is not set up for it.

Cycle shifts

Ana Bozovic, founder of real estate data firm and brokerage Analytics Miami, believes that coronavirus “has created an inflection point, and we are now in the early stages of this cycle’s decline.”

Bozovic is referring to the $500,000 and up condo market. “The higher up in price, the worse it is,” she said.

In January and February of this year, luxury condo sales (defined as $1 million and higher) in Miami Beach fell 53 percent compared to the same months of last year. At the end of February, the Edgewater market had 89 months of inventory of condos priced at $1 million and higher, based on two sales this year and 163 active listings, according to Bozovic’s data. In Sunny Isles Beach, there were 80 months of supply of $1 million-plus condos.

The silver lining? Sellers are already discounting their units, she said. A penthouse, unit 5103, at the Related Group’s Gran Paraiso in Edgewater is listed for just under $2 million. The owner bought it from the developer for $2.56 million in April 2019, which means that at the current asking price, the seller would be losing 22 percent, before commissions.

“It’s a genius move to buy real estate at the bottom. Especially in times of uncertainty, real estate has value. Miami is a wonderful, beautiful place. The opportunity for that is coming,” she said.

Defortuna and others agree that there could be opportunities down the line, but said it’s too early to tell, while the market takes a pause.

“There are going to be some opportunities in some cases where the developers or unit owners need to sell,” he said, adding that the developers his firm is representing are not slashing prices.

Price cuts will depend on the sellers, said Mark Zilbert of Brown Harris Stevens Miami. He doesn’t predict that pricing will drop, but said some sellers may find themselves with less cash reserves due to declines in the financial markets, and will be forced to sell their second or third home.

Zilbert, along with Silke Dietrich, represented the buyer of a $5.55 million condo at the Four Seasons Residences at The Surf Club, which closed on Friday. The buyer, who’s from Germany, wasn’t able to fly in for the closing due to the freeze on flights from Europe, but proceeded with the closing.

“I don’t think buyers are afraid of Florida,” Zilbert said. “I have been busy. I speak to buyers every single day.”

The post South Florida’s residential sales shift to virtual reality as business slows appeared first on The Real Deal Miami.

from The Real Deal Miami & Miami Florida Real Estate & Housing News | & Curbed Miami - All https://therealdeal.com/miami/2020/03/24/south-floridas-residential-sales-shift-to-virtual-reality-as-business-slows/ via IFTTT

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hemsanthomas · 5 years

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Open Houses South Shore MA

http://southshoresir.com/

#Real Estate South Shore MA

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albinohare · 5 years

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The Edge of the World | 5 Remote Homes Accessible by Boat

In a world where everyone is always accessible and “on”, a long-haul flight to a far-flung locale can sometimes feel like the only way to justify a little R&R. Thankfully, it is possible to reap the benefits of a faraway escape sans jetlag. Skip the stresses of air travel and dive into these remote homes accessible by boat.

A Private Retreat in the Florida Keys

John Vlad & Sue Moret, Ocean Sotheby’s International Realty

When you really need to slip away for a weekend or holiday, look no further than this private isle in the Florida Keys. Combining ultimate seclusion with luxurious amenities, this 2,300-square-foot hideaway is fit for a British special agent, complete with a helipad and 360-degree water views. Surrounded by shimmering ocean waters, this home feels worlds away, when in fact the mainland is accessible in five minutes by boat. Included in the purchase of the island is a vessel to make this string of tropical islands your aquatic playground, whether for deep-sea diving through North America’s only living coral barrier reef system or cruising the pristine waters of the Gulf of Mexico.

A Family Estate in Osterville

Liz Bone, South Shore Sotheby’s International Realty

Seafarers hunting for a quintessential coastal home can delight in this Massachusetts estate located on a historic corridor in Cape Cod. Situated on a nearly-four-acre parcel complete with waterfront access and a private beach, this charming North Bay property promises sunny days on the dock coupled with sunset cruises on the inlet. With four distinctive dwellings built to facilitate large gatherings, there is no dearth of options when it comes to entertaining, whether in the main home, studio apartment, or fully outfitted boathouse. With close proximity to contemporary cafés and clam shacks on the cape, there’s plenty to explore on land, but this captivating property best serves as a springboard for aquatic adventure: jet skiing on the inlet or taking the boat out to Martha’s Vineyard are recommended.

A Forested Custom Home in Victoria

Glynis MacLeod, PREC & Kirsten MacLeod, Sotheby’s International Realty Canada

Mountain views meet miles of shoreline at this oceanfront hideaway in Victoria, combining the serenity of the mountains with the restorative properties of waterfront living. Nestled on the edge of a private cove on the sheltered shores of Becher Bay, this respite set on a sprawling 10 acres includes its own private beach and access to some of the most covetable sports fishing grounds in Western Canada. For fishing enthusiasts and forest bathers alike, this quintessential Canadian hermitage offers a slice of paradise.

A New England Oasis in The Bahamas

George Damianos, Damianos Sotheby’s International Realty

Island charm is evident at this cheerful Bahamian estate, situated on a peninsula in the Eastern Shores community of Marsh Harbour. Rivalling private luxury resorts in both seclusion and amenities (which include tennis courts and yoga space), each room in this indoor-outdoor home is primed for soaking in views of lush tropical landscaping and Tiffany-Blue waters. With deep sea docks and easy access to the Sea of Abaco, this home is ideal for the serious captain or angler, with ample opportunity for fishing and chartering trips to neighboring islands.

An Airy Villa in the British Virgin Islands

Maritha Keil, British Virgin Islands Sotheby’s International Realty

Sail into paradise at this three-bedroom villa overlooking the Atlantic, and bask in the relaxed spirit of the Caribbean. Scrub Island is a launchpad for serious hydrophiles, with everything from ancient shipwrecks to epic scuba diving just a short dive away. For those who prefer to stay on dry land, picturesque beaches and neighboring National Parks provide an abundance of options for exploration.

When it comes to slowing down, there’s nothing quite like boarding a vessel and cruising off into the sunset. Luckily, reaping the benefits of a secluded escape is smooth sailing when it comes to these remote boat-access homes.

Feeling the call of the ocean? Dive into the benefits of waterfront living.

The post The Edge of the World | 5 Remote Homes Accessible by Boat appeared first on Sotheby's International Realty | Blog.

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nicolesrollins · 5 years

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Why high-end home auctions in South Florida are the next big thing

41 Arvida Parkway

“Florida is one of the leading markets for us in the $20 million-plus category,” Brady said.

The benefits for sellers

“It’s a buyer’s market, and sellers are going to have to look to other ways to create excitement and interest in their properties,” Gall said.

Huizenga’s 1575 Ponce de Leon

“Frustration is a big motivator — frustration that the traditional brokerage process has not given them any results,” Lesnock said.

Kristina Gustafson used Platinum to auction her Wellington farm in 2017.

“The key is you get more buyers to the table and you get a definitive closing date,” said Gustafson, who was a Realtor at the time with Southfields Real Estate.

How the auctions work

In the world of auctions, properties can be sold with a reserve — a minimum bid — or without a reserve, which is referred to as an absolute auction.

“I didn’t recommend the auction for this house,” Elmes said. “I think we could have sold it for more if had been priced correctly.” Yet the seller was happy with the outcome, he said.

In recent years, auction companies have seen more homes that are listed for $20 million or more, with one recent sale breaking an auction record.

“To get the global attention that trophy properties deserve, having an auction and creating a finite time frame to bring buyers to the table to me adds tremendous value,” Nash said.

But the luxury home auction that really started it all, according to Fisher, took place in 2013 and involved the future president.

Fisher sees it as a trend emerging. “The next wave is going to be the luxury condo, penthouse market,” he said.

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