Picking up Bargains in Miami Beach Real Estate – the Time is NOW!!!

November has been a busy month for my team, as we’ve seen some strong buyer activity in Miami Real Estate from the so-called “Bargain Hunters.” I’ve intentionally avoided weighing in on the technicalities of the financial crisis and the future impact of the Paulson Plan, as there are many more qualified sources out there to give readers their analysis. With some stability returning to the banking sector, more buyers are looking to invest in prime real estate properties, such as Miami Beach Real Estate, at a significant discounts. What’s happening are that the properties in the best locations are being picked up now at prices that range from approximately 3%-50% discounted values from 2005 prices.

Waterfront homes (turnkey) in Miami Beach at reasonable prices are in surprisingly short supply, and these are the first of the “bargains” that have been purchased recently. For example, I recently conducted a search for a client with a budget of $5 Million looking to purchase a luxury waterfront home (remodeled) on the Venetian, Palm Island, Hibiscus, Sunset Islands or Bay Drive in Miami Beach. The real choices? Just twelve waterfront homes!

Also, a few of our latest sales are indicative of the above referenced “deals” that are happening now:

Jade Beach- Prime Location Sale #1
Spectacular Lower Penthouse #4401 “F Line”- 4 beds / 4.5 baths – 3,136 S.F.
Contract Price: $2,475,000 ($789/S.F.)
2005 Sales Price: $3,400,000 ($1,084/ S.F.)
Today’s Discount: 27%
• A spectacular 51-story oceanfront tower
• Designed by Carlos Ott and Fortune Development Int’l
• Beautiful entrance with cascading fountains, lush landscaped gardens, reflecting pools, and contemporary décor throughout
• Three-story Grand Entrance Lobby with direct ocean and pool views
• Located directly on the Ocean close to Bal Harbor Shoppes and Aventura Mall, as well as easy access to Miami and Fort Lauderdale International Airports

Jade Beach Floor Plan- Unit F

Jade Beach Condo

Jade Brickell- Prime Location Sale #2 (Bank Owned / Pre- Foreclosure Sale)
Spectacular 43rd Story Residence “E”- 4 beds / 4.5 baths – 3,415 S.F.
Contract Price: $1,600,000 ($468 / S.F.)
2005 Appraised Value: $3,100,000 ($907 / S.F.)
Today’s Discount: 48%

Downtown Miami’s Most Luxurious & Lavish Building, the Jade Residences is a 49-story building offering 326 luxury residences with advanced technology. Spectacular Ocean and City Views, state-of-the-art security system, Infinity edge pool, Sauna, steam room, fitness center, European spa, racquetball, concierge services.
• 49 story architectural masterpiece designed by Bernard Zyscovich
• Distinctive three-tiered tower offering views of Biscayne Bay, Downtown Miami and Key Biscayne
• Grand entrance lobby graced breathtaking 21-foot ceiling with contemporary deco

Jade Brickell - Unit E

Jade Brickell condo - Miami