The Roads – a hidden gem of a neighborhood in Miami!

The Roads is a small exclusive neighborhood in Miami just west of the Brickell financial district. It was developed by Mary Brickell in the early1920’s and is still legally described as Brickell Hammock in the tax rolls.

The Roads is known for its peaceful tree-lined streets, prime location and historic nature.

The roads is a neighborhood in Miami, FL bordered by 11th St on the north, 12th Ave on the west, 15th Rd on a slant, and out to South Miami Avenue.
The roads is a neighborhood in Miami, FL bordered by 11th St on the north, 12th Ave on the west, 15th Rd on a slant, and out to South Miami Avenue.

 

There are currently 26 homes on the market in this area with prices ranging from $399,000-$4,350,000. You can expect to shell out anywhere between $3000 – $12,000 a month or more for a single-family home rental in this area.

To read about another sub-market in Coral Gables click here.

I specialize in Miami real estate, in particular Downtown, The Roads, Brickell, Coconut Grove, South Beach & surrounding areas. I value technology, communication & your time. If you would like to meet with me regarding a purchase or sale of Real Estate in Miami, you can contact me on my cell 786-663-4382 or at paula@greatmiamihomes.com.

Greatmiamihomes.com seeks to keep the public informed about Miami real estate market trends, new development projects, neighborhood information and, of course, great homes and condos for sale in Miami!

PAULA BARRERA

A modern agent for the modern client.

786.663.4382

paula@greatmiamihomes.com

How is the Miami, Florida Real Estate Market doing?

People ask me about the Miami Real Estate market all the time.  First, allow me to explain a simple market indicator: INVENTORY.

Residential Real Estate Inventory: a. the number of residential properties on the market or b. the number of months it would take to sell out of residential property if properties continue selling at the current rate and there is no increase in the number of properties placed on the market for sale.

For the purposes of this article, we will focus on definition b.

If there are 12 properties on the market, and they are selling at a rate of one property per month, the INVENTORY in that market is 12 months.  Is that a good market indicator or a bad market indicator? Read on to find out.

Healthy Market with stable values: 6-9 months of inventory

Market that is seeing or will see value APPRECIATION: less than 6 months of inventory

Markte that is seeing or will see value DEPRECIATION: more than 9 months of inventory

Our hypothetical market with 12 months of inventory will be seeing values DEPRECIATE.

The Real Estate Market in Miami (or Miami-Dade County as it is technically called) has had some radical changes over the past 7 years.

APRIL 2005 Miami’s Single Family Home market had just under 4 months of inventory (lowest inventory)

JANUARY 2008 Miami’s Single Family Home market had 43 months of inventory (highest inventory)

OCTOBER of 2009 Miami’s Single Family Home market had about 11 months of inventory

OCTOBER of 2010 Miami’s Single Family Home market had about 9 months of inventory

OCTOBER of 2011 Miami’s Single Family Home market had about 6 months of inventory

OCTOBER of 2012 Miami’s Single Family Home market had about 4 months of inventory

Inventory Plummeted Over the last 4 years

HOW ABOUT THIS YEAR?

2013: Clearly, the Real Estate market has recovered from the 2007 – 2009 collapse.  2013 has seen appreciation of up to 20% in some areas as well as a steady inventory of about 4 months.  This is an indicator of an appreciating market until we see an oversupply. Currently there are about 20 new buildings breaking ground in the Brickell/Downtown area.  The ones that have commenced pre-constructions sales have already sold out with the exception of the luxury penthouses in the millions.

The examples used in this article reflect sales inventory of SINGLE FAMILY homes.  Stay tuned for the stats on Condo/Townhouses and neighborhood breakdowns.  Until next time!

I specialize in Miami real estate, in particular Downtown, Brickell, Coconut Grove, South Beach & surrounding areas.  I value technology, communication & your time.  If you would like to meet with me regarding a purchase or sale of Real Estate in Miami, you can contact me on my cell 786-663-4382 or at paula@greatmiamihomes.com.  

Greatmiamihomes.com seeks to keep the public informed about Miami real estate market trends, new development projects, neighborhood information and, of course, great homes and condos for sale in Miami!


PAULA BARRERA

   

A modern agent for the modern client.

786.663.4382

paula@greatmiamihomes.com

 

 

 

The Shops at Mary Brickell Village

If you’re looking to spend some leisure time in the heart of Miami’s financial district, Mary Brickell Village is the place to go.  Enjoy upscale shops of famous high-end designers, restaurants and cafes, local community events and an overall relaxing environment.

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*Images from The Shops at Mary Brickell Village

There are over 10 eateries in The Shops at Mary Brickell Village, ranging from fine dining to cafes and lounges.  You can enjoying a nice dining experience at P.F. ChangsThe Oceanaire Seafood Room, Blue Martini, and Balans to name a few.  There is also a Publix and an LA Fitness located in the mall.

Mary Brickell Village has several events for the local community throughout the year.  Sunday Market is a weekly event where you can find local products, such as plants, arts & crafts, jewelry and even treats for your pet.  During the holidays, there are many events for families to enjoy, such as trick-or-treating around the shops.

There is a fully automated parking lot and the mall hours are Monday-Thursday from 11am until 9pm, Friday and Saturday from 11am until 10pm and Sunday from 12pm until 6pm.   You can view the mall directory here.

Below are some more restaurants you can check out at The Shops At Mary Brickell Village.

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As a Realtor, I find that Miami  is full of several sophisticated hotels, restaurants and architecture.  I see enormous public interest in developments along the Brickell area and it makes me envision a vibrant downtown with internationally influenced architecture, culture and year round warm temperatures.

 
The Shops at Mary Brickell Village is located on 901 South Miami Avenue, Miami FL 33130.

Ride the Miami Trolley yet?

Earlier this year, the City of Miami inaugurated a free trolley service for the Health and Stadium district and they’ve recently expanded the service to Downtown and Brickell! Similar to the modern, free Coral Gables Trolley (popular since 2003) the new Miami Trolley will help make our town more pedestrian and environmentally friendly.

http://www.miamigov.com/trolley/mapStadium.html
http://www.miamigov.com/trolley/mapBrickellBiscayne.html
http://www.miamigov.com/trolley/mapOvertown.html

The Miami Trolley operates from 6:30 AM – 11:00 PM Monday through Saturday and only during special events on Sundays 11:30 AM – 6:00 PM.

As a Real Estate Agent very familiar with Downtown/Brickell area, I am happy to see the expansion of the trolley and know that it will be very beneficial to residents in the area!  For additional information about condos in the Brickell area, please see below:

[optima_express_toppicks id=89135]

 

Miami River Walk and Real Estate

By the end of 2012, 5.25 miles of the Miami River walk will be completed. Or, at least, that is the plan. The plans call for a total of 10 miles of walking paths, benches and landscaped green belts along both sides of the Miami River. Currently, there is a gallery walk along the river hosted by Nina Torres Fine Art.

The Miami River walk is planned to be linked to the Brickell Trolley (free) and the Miami River water taxi (possibly).

As a Realtor, I find the development of the Miami River area exciting. I see enormous public interest in developments along the river such as Wind, Mint, the Ivy, Neo Vertika, Latitude, Brickell on the River, Icon etc. and it makes me envision a vibrant downtown with internationally influenced architecture, culture and year round warm temperatures.

One bedroom condos in this area are available starting in the upper 100s whereas in 2008 the prices for a one bedroom were in the low 100s.

Condo Close-Up: ICON Brickell

I was introduced to this building a couple of years ago when a friend invited me to the spa.  WOW.  I fell in love.  The sleek yet lavish interior design, which to me felt like a fusion of Louis XVI and contemporary chic, drew me like a moth to a flame.  The views from the pool deck and spa are spectacular and one feels privileged to be surrounded by such a setting.

The Icon Brickell has 5 Main Components: On the West Side (off of Brickell Avenue) is the Viceroy Hotel and Spa (LOVE IT), To the North and South are Icon’s Tower I and II (You have GOT to see these lobbies – WOW), To the East are Icon’s Bay Units and in the middle is the Park Terrace/Pool Deck that connects the four structures mentioned above (Longest infinity pool I have ever  seen and a life size chess set to play with – oh yeah, did I mention a full menu and drinks brought to you poolside?)

You will fall in love.

                     

                     

                     

 

  • Built in 2008
  • Ten-Acre Enclave
  • Total of 1800 Units Combined in All Towers
  • Between 50 and 60 Stories in Each of the Towers
  • Towers I and II are Fannie Mae Approved (http://iconbrickellrent.com/blog/?p=65)
  • Centrally located on Brickell Avenue, Icon sits on the northeast corner where the Miami River meets the Bay.

 

 

  • Eclectic and beautiful arquitecture by Arquitectonica and interior design by Yoo inspired by (Philipe) Starck
  • Amenities/Features: Spa & Fitness Center (w/Juice Bar, Tubs, Steam Room, Sauna & More), “Smart” High-Tech Building, Dining/Lounging (Café Icon, Bistro | e, Eos & Club 50), Park Terrace/Pool Deck (w/Fireplace), Residents are Granted Access to The Grand Bay Club of Key Biscayne, Party Room, Play Room, Theater Room, Library, Waterfront, Central A/C & Heat, Washer/Dryer in Unit, Valet Parking, Multi-Level Covered Parking and 24-Hour Concierge

 

 

For more features, please visit: http://www.iconbrickell.com/features.php and to see the individual floor plans for each unit please visit: http://www.iconbrickell.com/pdf/ICON_FloorPlans.pdf

 

**Note** The chart above depicts the sold prices (in thousands) of units at Icon Brickell since 1/01/2010.  The chart below reflects the average sale price per square foot for the same sales since 1/01/2010 to account for the vast differences in square footage among the sold units.

As you can see from the two charts above, the recent prices for a unit at Icon Brickell (no matter the size) falls between $300 and $400 per square foot.  There is no observable trend that tells us whether or not prices are increasing or decreasing so you can probably expect sales in the coming months to continue to be within this range.

                     

***Photographs acquired through www.IconBrickell.com (by Robin Hill Photography) and through membership to the Southeast Florida Regional MLS.  Photos are property of IconBrickell and Southeast Florida Regional MLS.  Information on closed sales at Icon Brickell used to create graphs was taken from Southeast Florida Regional MLS.***

Condo Close-Up: Neo Vertika

Walking distance to top rated restaurants, clubs, and shopping, Neo Vertika is a trendy, upscale building near downtown Miami. The lobby is adorned with pop art, which is further enhanced by the eclectic yet relaxing music. Neo Vertika’s enormous pool deck has plenty of room for get togethers and boasts beautiful views of Miami. This building is a great value, especially for a buyer looking to finance because unlike many new buildings in Miami, this condominium is FHA approved. Feel free to contact me should you want more information on available units in Neo Vertika.

  • FHA Approved Building (as of 5/28/10)
  • Located on Miami River near Mary Brickell Village
  • Close to MetroMover Station
  • Modern and Sleek Common Areas with Music Throughout
  • Friendly, Knowledgeable Staff
  • Built in 2006
  • 36 Stories including Parking and Amenities
  • 452 Units
  • Amenities: Pool, Fitness Center, Jacuzzi, Business Center, Clubhouse, Barbeque Area, Concierge, Waterfront, Washer/Dryer in Unit, Valet Parking, Covered Parking, Central A/C, Central Heat, & Sauna
  • Estimated Maintenance Cost per Square Foot is 0.53

Since 2006, the average price per square foot in Neo Vertika has dropped about two thirds

                     

                   

                   

*All photographs acquired through membership to the Southeast Florida Regional MLS. Photos are property of Southeast Florida Regional MLS.