Bimini Bay Explosion!

Just returned from Bimini Bay where I spent a mini vacation with friends.  It had been over four years since my last trip to the island and immediately upon arrival I noticed the growth and transformation which had occurred during that time.  All the development that was in the works then is now completed. You may have heard the chatter online regarding the numerous problems facing the resort, however, I must say there were none while I was there. Everything was in its place and working beautifully. We arrived and docked without any delay. Customs agents were friendly and quickly set us on our way.

 

One new addition since my last visit is the casino. It is now completed and operating at full steam. Although small, it is very nice and guest seemed to be enjoying themselves the times I was there. As is at all the amenities throughout the resort, the staff was accommodating and friendly. One of the things that impressed me the most is how well management has kept up and improved the general areas of the resort grounds. Everything was clean and well-manicured.

 

The casino is not the only change which has come about since Genting established the Resort World Bimini.  Resort World now offers a daily two hour cruise to the island from Miami to Bimini. According to the brochure, the cruise includes 2 free meals plus world-class gaming (for more information go to www.rwbimini.com).

 

Future plans for the island include world-class golf, hotel and luxury single family home featuring beach, pool and private docks. This is under development now and I am told the first homes will be delivered by the beginning of next year.

Baltus House

Baltus House is Jorge Perez's most recent brain storm. A collaborate effort between the Spanish design house, Baltus House and his extreme talents as a developer. Baltus House offers high end design with some of the luxuries typically offered at some of Jorge's more upscale projects. The property will be located across the street from Baypoint, a private community on the Biscayne Bay and a short distance away from the infamous design district. Baltus House, the Spanish design firm currently has a design studio in the design district. There is no debt that the new development will bring a huge recognition to the firm. According to the developer’s brochure, Baltus House will give the property an authentic taste of Spain by featuring artwork by Lluis Barba, a Barcelona artist. Keeping with the love of art which Jorge Perez is known for, the garage will feature a gigantic mural by Venezuelan artist Jaime Gili . For renderings and more information of this project, click on the link for the brochure; https://www.dropbox.com/s/3eoso5ccgn1j0e3/BALTUS%20HOUSE%20Brochure.pdf

Gone Forever - the 3% Interest on a Thirty Year Mortgage Loan is a Thing of the Past!

It just got a little more expensive to buy a home. You can forget the 3% interest rate on a 30 year mortgage loan – it is gone forever. I have been mentioning this for several months, possibly even as long as a year. It was never a secret, experts have been warning that the interest rate on home loans would go up and they did. In addition to higher prices for homes, now buyer will have to pay more for a loan. The current interest rate on a 30 year loan is up to around 4.48%, down slightly from around 4.61% a month ago and up from around 3.5% in the beginning of 2013.

...more positive news for the Greater Miami real estate market!

Today’s market outlook continues to be positive for the Greater Miami area. According to new released information by the National Association of Realtors, Miami home prices are up more than 20% over last year in the first quarter. In Miami the median price is $219,900, $43,867 higher than that of the national. Also mentioned in this report is the increase in permits for new homes. In the 12 months leading to March of this year, the rate of permits for new housing construction of single family house rose by 17.2% over the same period the year before. All this is an indication that our local real estate market is in recovery. We have been seeing positive numbers for almost two years now. The one thing that seems to have been holding it back is a shortage of inventory. I believe this renewed interest in new construction by developer and builders will further intensify this momentum with jobs and inventory making 2013-2014 the true turning point for our local real estate market and economy.

Household Net Worth

Household Net Worth

Take a tour of Coconut Grove, Florida

New Tenant In Pompano Beach

Restoration Hardware just secured a lease for over 100,000 square feet of warehouse space according to GlobeSt.com. Read more at http://www.globest.com/news/12_626/ftlauderdale/industrial/Emerging-Industrial-Spot-Woos-Major-Tenant-334538.html

Coconut Grove

Not far from Brickell and Coral Gables is Coconut Grove. Commonly referred to as “The Grove” by the locals, Coconut Grove rims Biscayne Bay. This mostly quiet village is lush with local variety of plants and trees. Discovered way before Miami was incorporated, Coconut Grove once a fishing village is now a modern and affluent community. A village within a City, Coconut Grove is home to people from many walks of life, including artist, writers, musicians and even some celebrities. Coconut Grove boasts having several of the best public and private schools in the County http://www.dadeschools.net/ making it a great area to raise a family. Homes are nestled in local vegetation and its swaying, tree lined streets offer serenity from the daily hustle and bustle; one may even see a peacock or two strolling down the street . Coconut Grove is comprised of many businesses, single family homes, condos, apartments and townhomes. Single family residences, range from several hundred to several million dollars, depending on the location. Many properties will be waterfront and demand a premium for the views and access to the water ways. Although not as common as the single home, low rise apartment buildings and condos towers have been a part of the “Grove’s” landscape for many years. Due to the spectacular views of the Biscayne Bay, and a growing demand for condos, high-rise buildings have begun to sprout along South Bayshore Drive. Newest and most luxurious addition will be the “Grove at Grand Bay” which is offering residences beginning at $2.8 Million and go as high as $21 Million. For everyone’s convenience and enjoyment, many businesses, Hotels, banks, cafes, shops and bars dot the streets of the business district Other amenities include parks, museums and recreational activities, including boat rentals, fishing and tours. One of Miami’s largest marinas, Dinner Key was once home to Pan Am’s amphibious liners flying American tourist to Cuba. Although completely retrofitted, the hangers still remain. If you are planning a vacation to the Miami area or may be considering making our City your home, Coconut Grove http://www.coconutgrove.com/ may be a viable option.

Amazing - Grove at Grand Bay

Designed by Bjarke Lingels Group, amazing doesn't begin to describe the new swaying twin glass towers in Coconut Grove. The old and prestigious Grand Bay Hotel, once home to the world renowned exclusive club, Régimes, will make way for the Gove at Grand Bay. This ultra-luxurious development will not only feature an amazing view of the Bay of Miami from the 12 foot high floor to ceiling windows, it will offer exquisite amenities. Some of these amenities will include club dinning, club room, fitness center, children’s room, library, rooftop pool, spa and yes, a pet spa                                                                        .                 

Residences will begin at $2.8M to $21M for the penthouse. Owned and Developed by TERRA GROUP. For more information visit my website  www.Balconvertical.com .

Brickell, an International Mecca

Housing Trends eNewsletter

MAY - 2013 Newsletter Housing Trends eNewsletter

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general. Subscribe and receive a free monthly copy in your email.

http://juansanchez.housingtrendsenewsletter.com?Newsletter_ID=297

It’s still the right time to buy!

For a couple of years now I have been saying the time is right to buy. Many heeded the advice and did just that. As a result, those who did; today are a bit richer. It has been no secret that the real estate market in South Florida was poised to make a comeback. Many foreign Buyers flocked to Miami and took advantage of once in a lifetime opportunities.

Today, Miami continues to be a hot market and Buyers are buying it up. Inventory levels, which at one time seemed like they were going to hunt us forever; are now at their lowest ever.  This condition has been driving prices up and has created positive appreciation for those who bought as early as two years ago.

It is still not too late, although higher; prices are still way below their 2005 peak. I don’t expect them to reach those highs anytime soon; however, prices will gradually continue to rise.

Designed by Bjarke Lingels Group, amazing doesn't begin to describe the new swaying twin glass towers in Coconut Grove. The old and prestigious Grand Bay Hotel, once home to the world renowned exclusive club, Régimes, will make way for the Gove at Grand Bay. This ultra-luxurious development will not only feature an amazing view of the Bay of Miami from the 12 foot high floor to ceiling windows, it will offer exquisite amenities. Some of these amenities will include club dinning, club room, fitness center, children’s room, library, rooftop pool, spa and yes, a pet spa   

                                                                     .                 

Residences will begin at $2.8M to $21M for the penthouse. Owned and Developed by TERRA GROUP. For more information visit my website  www.Balconvertical.com .