by Jamey on March 10, 2010
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The Continuum Condos are located in the popular South of Fifth area of Miami Beach.
The Continuum Condos are a two buildings:
Continuum I and Continuum II.
Their location is super appealing because they are situated on the tip edge of Miami Beach in the South Beach neighborhood South of Fifth. The Continuum Condos are popular buildings in both the rental and sales market.
They located within walking distance to some of the best restaurants and late night spots in Miami Beach like Prime 112, Nikki Beach, Taverna OPA, Joe’s Stone Crab, Smith and Wollensky’s and more.
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Continuum I was built in 2002 and is located at 100 South Pointe Drive.
Continuum II was built in 2008 and is located at 50 South Pointe Drive.
The Continuum Condos are some of the most popular luxury buildings because:
-The location is unbeatable. Oceanfront, direct beach access, views of South Beach, Downtown Miami, Fisher Island, Government Cut and more.
-Literally if you are in the South Tower, you can sit on your balcony and practically touch a cruise ship sailing by in the evenings.
-The security is tight and professional from the moment you enter the grounds to the concierge services. Some units have private elevators while other units without feature limited access to other residents and guests.
-The property is gated and features two large lagoon style pools with towel service. Below is a picture on one of the pool areas in the newer Continuum II building. Private cabanas surround the pool area. These are purchased separately. Notice the fence that surrounds the grounds and then the immediate beach access. The tip top of this picture is the ocean. To the top right is the beach towel, chair and umbrella service for both buildings.
-Tennis
-Restaurant
-An incredible full service gym.
-The units vary in style because the individual owners had to finish out the units with flooring, paint/priming, some fixtures, blinds, etc… but generally speaking the units feature top of the line appliances line appliances and finishes. This picture is from a unit in the newer building Continuum II.
Over the last six months there were 27 sales in the buildings combined and posted on the MLS . Units sold from $375,000 for a studio up to $6.2 million for a five bedroom.
Over the last six months there were 51 rentals in both buildings and the units rented from $3000 per month for a one bedroom up to $21,500 per month for a four bedroom four bath unit.
The Continuum Condos are really two super unique buildings in the Miami Beach area. Their location, features, amenities and more are what allow them to command such prices and they are great properties to live in and enjoy the luxury lifestyle in Miami Beach.
Written and Posted by:
Jamey Prezzi – REALTOR®
Keller Williams Miami Beach Realty
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Copyright © 2010 by Jamey Prezzi, All Rights Reserved …
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by Jamey on February 16, 2010
Miami Beach Real Estate Terms 101, (hint, hint….. they don’t know what you are talking about).
I was reading a blog article earlier this morning and the author was saying that often when you do something for a living, those outside of that sphere who don’t do it daily, probably have no idea what you are talking about.
It’s an interesting read, you can read the full post here.
It got me thinking a little about the terms that I may use with my customers and clients on a daily basis. I figured I should go through a few of the most common terms I use on a daily basis and explain them.
- Listings: A term we use to describe the properties we as agents list for sale or rent. For example, “Are there any two bedroom listings for sale in Mosaic Condos?”
- Pocket Listing: A term used to describe a listing that is not active on the MLS but an agent knows that the owner would sell it if they had the right buyer.
- Escrow: the literal translation is “an account established by a broker for the purpose of holding funds until termination of a transaction via wikipedia“ In plain English: when you give a check for a deposit, I will give it to a broker or an attorney who puts it into an account to hold until the sale is completed and/or the 1st day of the rental. This account is often used for reference during the transaction to send out letters stating that the funds have cleared and there is a deposit of $xyz amount and it is valid.
- Fannie Mae Approved: This could be a big long explanation but basically Fannie Mae buys loans from approved mortgage sellers. In order for Fannie Mae to buy the loans back, they have to be based on certain criteria. So when a building is listed as “Fannie Mae Approved”, this means that the building meets the criteria of Fannie Mae thus you can more easily get a loan on a unit in this building. **Everything still has to be reviewed and finally approved but it’s a good indicator that you can look to buy in this particular building if you need a loan that is back by Fannie.
- Listing/Seller’s Agent/ Owner’s Agent: This is the real estate agent who represents the owner/seller of the property.
- MLS: The multiple listing service. This is a computer database where we enter our properties for sale and for rent. From here this information gets syndicated to sites like Realtor.com, Zillow, Googlebase and more.
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by Jamey on February 15, 2010
Miami Beach Real Estate is often misunderstood by out of town and International buyers. Meaning many buyers who want to buy in our market don’t really fully understand what you get for your money. Well, today I am going to shed some light on this often confusing situation.
Are there good deals in Miami Beach Real Estate?
Absolutely but you have to remember that people from all of the world want to live here. It’s a very International city, so although typical local US residents in Miami Beach (& around the US) may be in a slump with buying power, we have many other buyers around the world who are able to buy into our market and often they buy with cash. Now I am seeing many more Americans & Canadians coming back into our market place to buy.
The best way to gauge what you can get for your money is look at closed sales.
Although Miami Beach may be a very small area, there are quite a few different markets going on inside of it. There are many different ways you could break down the Miami Beach Real Estate market so I am going to give a few different variations here…
Let’s use for instance the zipcode of 33139 from about 23rd street down to 1st and east over to the Star Islands and Venetian Islands. I am only going to go back 90 days.
Over the last 90 days in this area there were 209 condo/townhomes that sold. Below is a snap shot of a map of a few of those properties that sold.
I am going to use one of the most common request that buyers call and request.
Scenario
1 bedroom, 1 parking space & a water view
There were approximately 24 properties that sold with this criteria over the last 90 days. 4 were short sales, 1 was a foreclosure and 19 were regular sales. The final sales prices were from $135, 000 to $855,000.
See the variation?
The property that sold at $135,000 was a 650 square foot 1964 property located on West Avenue.
The property that sold for $855,000 is located in The Continuum, located at 100 South Pointe Drive in the South of Fifth area in South beach. It is also in a building that was built in 2002 and has 1365 square feet.
Price variations in Miami Beach can be based on many factors, a few of the most important are:
1. Location
2. Year built
3. View (literally some buildings have two different markets inside of them based only on the views).
4. Amenities: Parking, conceirge, security, pool (& you can go from just a pool to extra pool services like towel service), beach service (chairs & umbrellas for owners), security and more.
5. Built in furniture quality and appliances
6. Floor of unit (higher floor typically = more $$$)
7. Reputation
8. Privacy
9. Size
10. and more….
The main thing that I think that is important for buyers to do prior to previewing property in Miami Beach is to first get a firm grasp on what you can get for your money. If not buying with cash, first speak to a lender and find out how much you can afford and then have an agent start sending you listings based on that price point. If buying cash, obviously the budget of the cash purchase will determine your buying power and from there have an agent start sending you listings based on this budget.
There are many options for buyers in Miami Beach but it’s important to remember that although the market is down, we are still a highly sought after place to live (or have second homes) both in the US and Internationally.
