Miami Condo Lifestyle Weblog

To say that Jorge Perez and his team at the Related Group have over delivered with 50 Biscayne would not only be an understatement but a downright insult. We toured the property last night during the Grand Opening party and the building is beautiful. The unobstructed views of Biscayne Bay at night, the Miami Beach skyline and the Port of Miami lit up and moving were breathtaking. The finish work is fantastic in the common areas like the fitness center and throughout the individual units…plus there are many attractive opportunities for those who are buyers. Here’s a list

The slightly subdued crowd that gathered on the amenities deck was full of buyers and brokers alike enjoying the live band, dancers, laser light show, open bars and refreshments. By 8 o’clock everyone was reminded of why Miami is the best town to work and live. Refreshing bay breezes, cool weather, a crescent moon and scads of beautiful people circulating through 50 Biscayne’s open spaces on the 10th floor completed the picture. The conversations became increasingly upbeat as folks realized that a critical mass will soon be reached in the Downtown Miami and Brickell neighborhoods that will create the tipping point to attract the work and live group to move in and stay.

Somehow, the center of gravity for all of Miami moved slightly west from South Beach last night toward Downtown. Fifty Biscayne is just the beginning! With Loft II, 500 Brickell and The Plaza on Brickell all coming on line in the next several months…Downtown Miami will be the place to be!

For all of us in the real estate industry, I’d like to thank Mr. Perez for having the vision to make these massive investments and for creating a brightly lit future for our city.

Gracias, Senor Perez.

The WIND by NEO condos are in a resales program managed by the developers sales team. There are several different units listed in the MLXchange system in South Florida. AND there are many others available at excellent prices which are not listed there.

To find out how to get the under-priced units, please visit WIND by NEO Condos

WIND by NEO Condos Aerial

Even though the AXIS on Brickell is not expected to start closing until Summer 2008, many contract holders are listing their properties with local Miami real estate brokers to beat the 2008 rush!
Several of our clients have reduced their pricing to their original contracted cost. Opportunities abound.
To see what all the excitement at AXIS is about visit AXIS on Brickell condos!

AXIS on Brickell Condos Aerial

Anyone watching or reading the financial news over the last few weeks has seen a lot of angst and consternation over the state of the mortgage industry. In fact, one of the larger lenders in the US, American Home Mortgage, was forced to shut down operations recently. But why? What is happening, what does all this mean to you and most importantly… what should you be doing do right now to make sure you are protected?

Here’s the scoop.

Over the past several years, many loans were made to homeowners with somewhat non-traditional or “non-conforming” situations, be it a poor credit history, inability to document income, or any number of factors that do not fit within the traditional “box” for home loans. These loans are often called “Sub-Prime”, or “Alt-A”, meaning that they were somewhat riskier in nature than A credit, prime, or traditional loans. Another type of “non-conforming” home loan is one where the credit and income might be perfectly fine, but the loan amount is higher than $417K, which is the current maximum loan that can be done using pools of money from mortgage giants Fannie Mae (FNMA) and Freddie Mac (FHLMC). If the loan amount is higher, it can certainly be done - it’s called a “jumbo loan” - but the end money comes from private institutions, not from the large government sponsored entities of Fannie and Freddie.

Most non-conforming loan product rates popped significantly higher recently. Here’s what happened.

The end investor for Subprime or Alt-A loans will charge a premium for taking on a pool of these loans, because they know that traditionally, they might have a higher rate of default and delinquent payments within that risky pool. But lately, default and foreclosure has been on the rise - partly due to the fact that with credit tightening and a soft real estate market, many troubled homeowners are unable to refinance or sell in order to get out of trouble. So now, these end institutions are demanding a much higher “risk premium” for taking on these pools of loans, as they see the rates of default are climbing higher.

But since these institutions are purchasing these pools of loans sometimes months after the borrower has actually closed at a given rate, this increase to the risk premium means that instead of paying $101K for a $100K loan that will bear interest, they may only be willing to pay $95K for that $100K mortgage to account for the risk. Multiply that times thousands upon thousands of loans…and you have millions upon millions of dollars in loss for the company trying to sell the pool at a much lower price than they were expecting. This is called a “liquidity crisis“, and is exactly what happened to American Home Mortgage and Homebanc - there was no mismanagement, but they simply got caught holding too many “hot potato” loans, forced to sell them at massive losses and eventually they had to make the decision to close the doors and stop the bleeding.

Further, even when a lender is able to take some losses, they may be subject to a “margin call“.

This means that as their losses and risk premiums increase, the value of their loan portfolio decreases. As the value decreases, the credit lines that are secured by those portfolios begin to issue margin calls as the value of the asset that they are secured on is now diminished. This is exactly like margin calls in the Stock market. If you have a loan against a Stock that is losing value, you will get a “margin call” and need to pay down the loan, as the underlying Stock is losing too much value to be considered adequate collateral any longer. So for the big lenders, as their portfolio is losing value due to increased risk premiums and losses…the margin calls start coming in, and they are required to pay down their balances. In turn, this means that they have less availability to fund their new loans, which then exacerbates the problem.

In response to seeing this situation play out in the demise of American Home Mortgage and Homebanc, lenders of other non-conforming loan products increased their interest rates dramatically almost overnight to be better prepared - and likely over-prepared - for increased risk premiums down the road. Even though loans above $417K are not presently suffering from increased delinquencies like the Subprime and Alt-A loans are, these rates popped higher as well, because they are being purchased by smaller private entities that can’t afford to take on any margin of risk.

What happens next? The major damage is probably already done, and the present situation will likely settle out over the coming year. Lenders will stop pulling products off the shelf, and the rates on products that have moved so significantly higher now should trend lower down the road as delinquency rates stabilize.

But here are a few important things YOU should do right now:

ONE: Even if you are not presently in the market for a home loan of any type, make sure that your credit standing is as solid as possible. Many people in the market for a home loan didn’t expect they would have a need, and didn’t plan in advance to ensure their credit would qualify them for the best possible financing. With no immediate need for a home loan, time is on your side… why don’t we take a few minutes together and just make sure you are prepared, should a need arise down the road? Call or email me right away.

TWO: If you are in the market for a home loan, or know someone who is - understand that now is the time to be working with a real qualified professional who can keep you informed of changes in the market and get your loan funded quickly. Now is NOT the time to be playing the risky game of trying to scour the entire nation to find someone who promises to save you a paltry amount on costs, or deliver a rate that seems too good to be true.

Your home and your financing are just too important, and times have changed. I am here to help and advise during these volatile times - and would welcome calls from you, your friends, family, neighbors or coworkers.

If you would like more information or advice about today’s market, please give me a call.

Downtown Loft 4 Downtown Miami Condo Lifestyle Payment Terms, Deposits & Registration

• 1st Deposit - 5% due at execution of contract.
• 2nd deposit - 5% due at the beginning of construction or if construction has started, 45 to 60 days after 1st deposit.
• 3 Deposit - 5% due when construction of the building reaches the top.
• Balance of 85% due when construction is finished in 2011
• Maintainence fees will be approx. $0.51 per interior square foot.
• To purchase a unit, you will need to fill out the LOFT 4 Downtown Miami Condo Lifestyle registration form
• Sales started in August,2007

Loft 4 Downtown Miami Preconstruction Condos

Loft 4 Downtown condos is a one-of-a-kind 36-Story tower designed by award-wining Cohen Freedman, Encinosa and Associates Architects. Stunning two-story entrance lobby highlighted with impeccable finishes with high-speed elevators from the 24-hour controlled-access lobby. Loft 4 Downtown features concierge service plus a mail and receiving desk. Residents will enjoy valet services as well as incredible downtown and city views.

Loft 4 Downtown condos offer nine different floorplans ranging in size from 630 to 1,066 square feet in one and two bedroom configurations. To view the floorplans, just Click the “Floorplans” button to the right.

Loft 4 Downtown - Features & Amenities

• 4th floor Clubroom with large outdoor terrace
• Beautifully landscaped sun terrace with heated pool and wet bar area
• Fully-equipped HealthClub with cardio theater and weight training
• Shaded resistance pool for endless-lap, turn-free swimming
• Advanced technology “Smart Building”, pre-wired for WiFi high-speed Intranet, data/voice cable, TV access
• Technologically advanced fire safety system
• Energy-efficient, tinted impact-resistant sliding glass doors and windows
• Individually controlled energy-efficient central air conditioning and heating system
• Stackable washer and dryer in every unit
• Lofty 10 foot ceilings
• Ceilings soar to 12 foot on select floors
• Move-in ready with designer-look-loft-style floors
• Private balconies
• Spacious living areas
• Loft-style sealed concrete floors

Loft 4 Downtown - Residence Features

• High-gloss white Italian-style cabinetry
• Elegant terrazzo countertop with matching backsplash
• Stainless-steel double sink with under-mount installation and convenient pull-out spray nozzle
• Smart, energy efficient stainless-steel appliances including:
• Side-by-side refrigerator with ice and water dispensers/freezer
• Self-cleaning electric range with ceramic glass and cook top
• Mulit-cycle, pot-scrubbing dishwasher
• Built-in microwave with light
• High-gloss white Italian-style cabinetry with contemporary stainless-steel door handles and drawer pulls
• Cleaning marble countertops with matching backsplash
• Porcelain tile Floors and wet walls
• Large vanity mirror

Loft 4 Downtown - Lobby

Loft 4 Downtown Condos - Lobby

The beauty of Loft 4 Downtown is captured immediately upon entering the building. With stylish touches both exuberant and unique, the Loft 4 lobby is a double height showstopper full of impeccable finishes and modern, original artwork, beyond which lie the high-speed elevators to the residences above.

Loft 4 Downtown - Exterior

Loft 4 Downtown Condos - Exterior

The ground floor of Loft 4 Downtown features retail and restauraunt space for service providers, shops, boutiques and restaurants. Loft 4 Downtown introduces an array of new business certain to add even greater convenience.

Loft 4 Downtown - Interactive Pool Lounge

Loft 4 Downtown Condos - Pool

You’ll find not one but two pools to keep you cool. Train for strength and cardio in the third-level Health Club, or head for the Pool Deck where you’ll discover a shaded lap pool, with resistance-swim technology for the ultimate turn-free swim workout. Just steps away, the sunning pool is ideal for more leisurely dips or for lounging with neighbors over drinks at the poolside bar.

Loft 4 Downtown - Health Club

Loft 4 Downtown Condos - Health Center

On the third floor, Loft 4 features a well-appointed facility for the pursuit of your personal health and fitness goals. You’ll find up-to-the-minute equipment for strength and endurance training in a bright and airy space decked out with plasma screens and motivating cardio

Loft 4 Downtown - Interior Design

Loft 4 Downtown Condos - Residence Interior

Loft 4 Downtown Condos - Bedroom

Downtown Loft 4 Downtown Miami Condo Lifestyle Payment Terms, Deposits & Registration

• 1st Deposit - 5% due at execution of contract.
• 2nd deposit - 5% due at the beginning of construction or if construction has started, 45 to 60 days after 1st deposit.
• 3 Deposit - 5% due when construction of the building reaches the top.
• Balance of 85% due when construction is finished in 2011
• Maintainence fees will be approx. $0.51 per interior square foot.
• To purchase a unit, you will need to fill out the LOFT 4 Downtown Miami Condo Lifestyle registration form
• Sales started in August,2007

Click the Model number to view individual Model floorplan

The latest innovation in real estate marketing was announced at the Florida Association of Realtors (FAR) convention in Hollywood, Florida this past week…Video Driveby.

Real Estate Industry Solutions (REIS), FAR’s wholly owned subsidiary, and Real Data Center Inc. (RDC) of Jacksonville announced a partnership that will deliver street level video images of the entire state of Florida as well as other views, such as aerial, for every home — and it will be offered free to Florida Realtors through MLS Advantage or IDX.

To see a preview or get more info about this service, which should be available within in the next few months, visit the REIS Web site at www.reisinnovations.com and click on “Video Driveby.”

ArTech, arguably Aventura’s most distinctively designed condominium project, wins three “Best of Real Estate ” awards from South Florida’s Sun Post…for architectural design, project brochure and creative developer.

Best Architectural Design

ArTech Architect Carlos Ott is widely known for his innovative architectural designs from Dubai to Shanghai. With ArTech, he has taken it to a whole new level. Working with South Florida architect Charles Benson, Ott broke the mold by designing a 900-foot-long building…essentially a tower on its side! This boomerang-shape property, with a striking resemblance to a cruise ship, may revolutionize our sense of architectural design with its curvilinear floor plans and bold shape. ArTech’s stunning design celebrates the aesthetics of the 20th century’s finest machines, with slopes and lines that are more similar to the contours of cars, planes and boats than to traditional condominiums.

Best Project Brochure

Just as ArTech has broken the mold with its bold boomerang shape, its stunning sales brochure proves paper brochures are a thing of the past. This hardcover brochure is encased in silver Plexiglas and has a built-in DVD that showcases a futuristic, virtual reality tour of the property and almost 30 pages of vivid, eye-catching renderings, essential information on the residences and detailed floor plans. The promotional piece brilliantly reflects Shefaor Development’s commitment to always delivering the most luxurious and highest quality products.

Best Creative Developer

Gilbert Benhamou and Claudio Stivelman, the partners of Shefaor Development, had portfolios of their own before joining forces. Gilbert Benhamou has more than 20 years of experience as an entrepreneur in France and the United States. He developed the Grand Venetian in Belle Isle, Miami Beach and is investing in projects soon-to-be under way in Sunny Isles and Palm Beach. When Claudio Stivelman moved to Miami in 1991, he stared investing in real estate and embarked in a joint venture with Coscan Homes to build the Ocean Point Resort and Beach Club in Sunny Isles. In 2002 he bought two acres and joined forces with Benhamou to develop Uptown Marina Lofts. That was the beginning of a beautiful professional friendship. For Uptown was soon followed by ArTech, a tower designed like a cruise ship.

The Miami Condo Lifestyle team has all the latest information about ArTech availability, pricing and construction progress at Artech Condos.

We also have all the latest news about other Aventura condos here.

Visit us today and share in the Miami Condo Lifestyle soon.

Project Summary

• Community: Miami Beach
• Design type: Condos, Hotels
• Architect: Kobi Karp
• Views: Oceanfront
• Completion Date: Fall 2007
• Bedrooms: 1,2,3,4,PH
• Residence Size: 651-3806 sf.
• Total Residences: 103
• Number of Stories: North Tower-6
  South Tower-19
• Price Range: $565,000 to $7,900,000

Caribbean Condos are being developed by Christa/Bluerock. Originally designed and built in 1941 by architect Murray Dixon, the existing six-story building will be renovated to include 35 ultra-luxury residences in what is to be called the North tower. A new 19-story South tower with 68 residences will be built alongside it. Both buildings will face the ocean. Renovations and construction began in early 2006.

Residences will range in size from 1,761 square feet to 3,806 square feet. To help marry the glamourous feel of the 40’s and 50’s Caribbean Hotel heyday with 21st century conveniences, the developers have commissioned Kobi Karp as exclusive architect and Christopher Ciccone as interior designer.

To find out which oceanfront residence is available for you, click Caribbean Condos!

Ned Berndt and the Miami Condo Lifestyle team are co-brokers for the Caribbean, and will have a transaction broker relationship with you for all sales at Caribbean. Keller Williams Realty is not otherwise affiliated with the developer or its sales and marketing agents. The full transaction broker disclosure can be found in the disclaimer. All information presented in this page is preliminary in nature, and may be inaccurate. Your purchase agreement, prospectus and other documentation provided to you by the DEVELOPER will contain the most accurate information available.

Copyright © 2000 - 2006 Ned Berndt All Rights Reserved.

1680 Meridian Avenue - Miami Beach, FL 33139

Project Summary

Community: Coconut Grove
Design type: Condos
Architect: Cohen, Freedman, Encinosa & Associates
Views: Bay and city views
Completion Date: 2008
Bedrooms: 1,2,3
Residence Size:800-3000 sf.
Number of Stories: 15
Price Range: $370,000 to $1,000,000

Project Status: Contracts

VIA 27 Condos - Coconut Grove

VIA 27 condos will have 192 residences just minutes from the shopping mecca of the Village of Merrick Park, the charm of Coconut Grove and the entire Brickell Downtown area. Panoramic views will of Coconut Grove and Biscayne Bay to the east, the dazzling city skyline of Brickell and downtown Miami to the north and verdant landscaping and architectural beauty of Coral Gables to the south and west are yours to enjoy.

For complete information from MiamiCondoLifestyle.com, visit VIA 27 condos!

Ned Berndt and the Miami Condo Lifestyle team are co-brokers for the Via 27, and will have a transaction broker relationship with you for all sales at Via 27. Keller Williams Realty is not otherwise affiliated with the developer or its sales and marketing agents. The full transaction broker disclosure can be found below in the disclaimer. All information presented in this page is preliminary in nature, and may be inaccurate. Your purchase agreement, prospectus and other documentation provided to you by the DEVELOPER will contain the most accurate information available.