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Thread: Got the Green Light to Move to Miami Beach

  1. #41
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    Default Re: Got the Green Light to Move to Miami Beach

    Quote Originally Posted by elchevere View Post
    I'm already looking ahead in the event my place doesn't sell with "laid back" and have met with agents from Berkshire Hathaway and Keller Williams....already impressed--world of difference in terms of their approach, creativity, aggressiveness, and the fact they have a team behind them and seemingly many more contacts....maybe this current guy will get lucky (doubt it); if not, I'm lining up my A-team bullpen.
    Elchevere: Have not been here in a while. Sorry to hear the challenges you've faced selling your SD condo.

    For whatever its worth I sold my downtown LA condo/loft at the end of last year. Put it on the market in Sept. 2015 (obviously not the best time of year). Had a full-price offer in about 60 days. Closed in Dec. 2015. If I was timing the market I probably sold a year or two too soon. So I wouldn't fret it too much.

    I think one difference between downtown LA and SD is there is much less for sale inventory in downtown LA. During the current boom/cycle builders are primarily only building rentals in downtown LA. Easier for guys like me with older units to sell at full list price with less competition. I also had a great broker who lived in my building and worked hard, etc.

    Have not made overtures to move to Miami (as I had planned) but looking to possibly do so in 1st Quarter 2017. Good luck

  2. #42
    Senior Member Marc Middleton's Avatar
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    Default Re: Got the Green Light to Move to Miami Beach

    Quote Originally Posted by SoCal View Post
    Elchevere: Have not been here in a while. Sorry to hear the challenges you've faced selling your SD condo.

    For whatever its worth I sold my downtown LA condo/loft at the end of last year. Put it on the market in Sept. 2015 (obviously not the best time of year). Had a full-price offer in about 60 days. Closed in Dec. 2015. If I was timing the market I probably sold a year or two too soon. So I wouldn't fret it too much.

    I think one difference between downtown LA and SD is there is much less for sale inventory in downtown LA. During the current boom/cycle builders are primarily only building rentals in downtown LA. Easier for guys like me with older units to sell at full list price with less competition. I also had a great broker who lived in my building and worked hard, etc.

    Have not made overtures to move to Miami (as I had planned) but looking to possibly do so in 1st Quarter 2017. Good luck
    I just listed a sweet 3 story townhome in the center of Coral Gables for $449k. Completely gutted and renovated, parking, no amenities, hOA are $350/mo includes trash but not water. Insurance is cheap, under $1500/year.

    Judging by LA prices, this should be quite a bargain for you!

  3. #43
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    Default Re: Got the Green Light to Move to Miami Beach

    Quote Originally Posted by Marc Middleton View Post
    I just listed a sweet 3 story townhome in the center of Coral Gables for $449k. Completely gutted and renovated, parking, no amenities, hOA are $350/mo includes trash but not water. Insurance is cheap, under $1500/year.

    Judging by LA prices, this should be quite a bargain for you!
    That is a steal by comparison. Not a huge fan of a three-story walk up. But I do like C.G.

  4. #44
    Senior Member Marc Middleton's Avatar
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    Default Re: Got the Green Light to Move to Miami Beach

    Quote Originally Posted by SoCal View Post
    That is a steal by comparison. Not a huge fan of a three-story walk up. But I do like C.G.
    Its a townhome, not a traditional 'walk up' like you'd find in NYC/Boston. You enter on the first level where the TV is and a patio, a few stairs to the kitchen and then a traditional staircase to the first bedroom. The 2nd bedroom is on the 3rd floor but the owners now use it as the guest room. Each room has a balcony.

    I know you like C.G, that's why I mentioned it. There is nothing like it on the market for under $500k that is a block or two to Miracle Mile (this place is less than a full block to the mile).

  5. #45
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    Default Re: Got the Green Light to Move to Miami Beach

    ^^You've got an excellent memory Marc. A location that close to the miracle mile is great. I also like Brickell.

  6. #46
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    Default Re: Got the Green Light to Move to Miami Beach

    Update: 93 days on market, no offers.

    At least I got the agent to expire and relist the MLS and web ads so that I start over at 1 day on market, rather than 93 and counting.

    Have met with 3 new agents with the intent of probably going back on the market starting end of February, once current contract expires in November.

    Possibility my floorplan will take awhile to sell (lesson learned--no more units with spiral staircases and lofts); possibility my price might be high and/or market not as strong as first thought; definitely have a clown for an agent based on following:

    --No broker caravan
    --No print ads
    --does not ask people viewing my place what they do for a living or what part of San Diego (or elsewhere) they are from...as a result, I have had people come over with infants, etc. afraid to go up my spiral staircase who would never buy my place in first place or if I dropped my price in half...waste of time for all involved).
    --total of 20-21 viewings in first 93 days...not a phenomenal figure--# of 'quality' viewings (i.e. those not afraid of a spiral staircase, etc. probably closer to 12-15).
    --I paid a premium for a number of upgrades when I bought the place; agent has asked me to make allowances available to remove some of these upgrades without having presented me any offers...sure, pull my pants down without an offer...moron.
    --1 person agency--no backups...the agent has had the nerve to ask ME if I would mind showing my place to prospective buyers/agents while he is on vacation--has done this twice. His job to sell, not mine.
    --I am the one who pointed out to him and asked after having been on the market 9 days why wasn't my property showing up on 2 websites you might have heard of....Zillow and Trulia.
    --I am the one, not him, who suggested expiring the current MLS and web listings at day 93 and starting over at day 1 with new listings and lead photo.

    New agents I have met with far more professional, have a complete marketing strategy that goes beyond just MLS and web listings, one will even throw in staging for the first 60 days, will target areas beyond an immediate 5 mile radius through their other offices, have back up help, insist on broker caravans, etc.....in other words, rifle approach not shotgun approach.

    Lesson learned. If this agent is not the Wikipedia definition of schmuck, I don't know what is...anyways, spring the best time to sell in SD and I will just run out the clock with current guy in the event he gets lucky and right buyer falls into his lap knowing he does not have a clue about how to sell or market a property (used to just showing up to a property that will receive multiple offers within just 2-3 showings and collecting his commission)....this guy couldn't sell birth control to Planned Parenthood.
    Last edited by elchevere; 09-18-2016 at 04:32 PM.

  7. #47
    Senior Member Marc Middleton's Avatar
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    Default Re: Got the Green Light to Move to Miami Beach

    Sorry to hear it hasn't sold and you are having problems.

    If it were 20 quality viewings, I would assume it would have sold. Even 15 would be high to have 0 offers.

    I have a listing now in the Gables that is a 3 story condo. I put in the broker remarks "its 3 stories, qualify your client, don't waste our time" since its illegal to write "no babies, no seniors", etc. since there are so many stairs. I love the place, but I have a 20 month old and wouldn't buy the place because it would drive me crazy and have baby gates everywhere.
    Our target is 25-30 young professional or couple, 35-55 year old bachelor/divorced person, 2nd homeowner from the North East or Europe, or single parent with 1 child in the age of 12-16. That's pretty much it. Is it going to fly off the market? No, because it doesn't appeal to everyone.

    It sounds like your demographic is very similar to mine.

  8. #48
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    Default Re: Got the Green Light to Move to Miami Beach

    fortunately, I am not being forced or rushed to move--on my schedule and my terms.

    Could be a price factor--but will not know that until I have used some of these more aggressive alternatives/agents next spring that will incorporate broker caravans, print ads (in San Diego and neighboring counties), and staging in their marketing tool chest....if, after using these additional vehicles, still no offers then that tells me it definitely is price and/or it could take 6-8-10 months to find the right buyer (i.e. single professional male or couple with no kids, nor wanting any in the future). At present time, I am priced below the average price per sq foot for 2BR 2BA condos in my area.

    Curious if there are any additional marketing tools you are using....unfortunately, downtown SD--where I live-is not the mensa capitol of the nation. With the exception of downtown attorney's (most of whom work but do not live downtown) there are no industries or professionals (predominantly service/tourism--though I might get luck and find a naval officer)...ideally, I can find an attorney living up in Del Mar or North County who wants a place closer to their downtown office. Given the absence of a professional environment here (unlike Brickell, which is a financial center--none here), I might end up hoping to find someone from LA, Orange County, or Phoenix rather than downtown San Diego....at the same time, if someone has an issue with a spiral staircase I'm not sure how reducing price is going to address that issue.

    Just going to take a little longer for me to get to Miami.

    Quote Originally Posted by Marc Middleton View Post
    Sorry to hear it hasn't sold and you are having problems.

    If it were 20 quality viewings, I would assume it would have sold. Even 15 would be high to have 0 offers.

    I have a listing now in the Gables that is a 3 story condo. I put in the broker remarks "its 3 stories, qualify your client, don't waste our time" since its illegal to write "no babies, no seniors", etc. since there are so many stairs. I love the place, but I have a 20 month old and wouldn't buy the place because it would drive me crazy and have baby gates everywhere.
    Our target is 25-30 young professional or couple, 35-55 year old bachelor/divorced person, 2nd homeowner from the North East or Europe, or single parent with 1 child in the age of 12-16. That's pretty much it. Is it going to fly off the market? No, because it doesn't appeal to everyone.

    It sounds like your demographic is very similar to mine.
    Last edited by elchevere; 09-18-2016 at 08:03 PM.

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