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Thread: Got the Green Light to Move to Miami Beach

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    Default Got the Green Light to Move to Miami Beach

    after talking the talk, looks like I will finally get a chance to walk the walk--with the Staples acquisition of Boca based Office Depot (my largest customer) now off the table my boss has given me the green light to relocate to Florida if I want to.

    Big obstacle removed....probably put my San Diego condo up for sale over the weekend. I am under no pressure to move (my call, my terms) nor will I be giving my condo away, but if I get a fair price looks like I could join you folks as a Florida resident sometime in late 2016.

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    Default Re: Got the Green Light to Move to Miami Beach

    Awesome!! Congrats! So jealous!

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    Editor Matt Meltzer's Avatar
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    Default Re: Got the Green Light to Move to Miami Beach

    Careful what you wish for, amigo.
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    Default Re: Got the Green Light to Move to Miami Beach

    Might regret never having made the move to see if I like it or not...if I move and do not like it, nothing preventing me from moving again.
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    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 elchevere View Post
    Might regret never having made the move to see if I like it or not...if I move and do not like it, nothing preventing me from moving again.
    That's cool, congrats!

    Maybe you can write for MB411 about the latest restaurants since Matt is big time now with Thrillist, jet setting around the globe ;-)
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    Default Re: Got the Green Light to Move to Miami Beach

    It will be my pleasure to follow in his footsteps...I eat out every meal--haven't cooked since 1987. (I tried BBQ'ing spaghetti but it kept on falling in the grill).

    My timing could be pretty good...market has been still rising in SD so I should be getting close to top dollar for my condo...even though I will start out renting in Miami, from my vantage point condos seem to be taking longer to sell and I'm seeing reduced prices from initial list prices...hoping to find a distressed seller if I decide to stick around and buy.
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    Default Re: Got the Green Light to Move to Miami Beach

    Quote Originally Posted by Matt Meltzer View Post
    Careful what you wish for, amigo.
    Matt I miss you making me smile

    May as well try it elchevere. Perhaps rent your condo out tho, just in case...

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    Default Re: Got the Green Light to Move to Miami Beach

    Good news. Don't let the naysayers hold you back. Renting is a good move though, as prices are still high. Don't compromise on location.

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    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 elchevere View Post
    from my vantage point condos seem to be taking longer to sell and I'm seeing reduced prices from initial list prices...hoping to find a distressed seller if I decide to stick around and buy.
    Not sure what your budget is, but if you are buying in the $700k-$1.5ML range, there are lots of deals out there and eager sellers. Luxury market still strong and the $200k-$400k market still doing well. $400k-$500k taking a bit longer than usual, but they are selling.

    Or wait until the election and see what happens...
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    Default Re: Got the Green Light to Move to Miami Beach

    Would the election change anything?

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    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 Jess View Post
    Would the election change anything?
    Ummm..yeah..big time.

    Many financial analysts have predicted an economic collapse with Trump at the helm and the policies he's put forth.

    Everyone says Hilary is "bought" by Wall street right? So we'll all do just fine if its her ;-)

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    Default Re: Got the Green Light to Move to Miami Beach

    Probably in the $575 - 725 range......would prefer a 2BR, but there is a real nice, recently built (2011) 1BR loft in SoFi that might make a perfect bachelor pad for me.

    Wondering if sales slow down/prices come down as we get deeper into summer. Is there a correlation between seasonality and prices in Miami Beach??....Unit I might consider has been on the market more than 100 days with no price reduction to date....guess it always depends how badly the seller wants or needs to unload his property.

    Quote Originally Posted by Marc Middleton View Post
    Not sure what your budget is, but if you are buying in the $700k-$1.5ML range, there are lots of deals out there and eager sellers. Luxury market still strong and the $200k-$400k market still doing well. $400k-$500k taking a bit longer than usual, but they are selling.

    Or wait until the election and see what happens...

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    Default Re: Got the Green Light to Move to Miami Beach

    We don't seem to have low season anymore, just hot and hotter season. In summer all the europeans come over on their summer vacations, so it's just as busy as in the winter when all the New Yorkers are here.

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    Default Re: Got the Green Light to Move to Miami Beach

    I was thinking more along the lines of buyers and sellers, not tourist seasons....do Europeans visit Miami in the summer because it is a cheaper (than winter) vacation or to buy property??....I would imagine if I were selling a condo, the December - May time frame would be the peak selling time and I might get more prospective buyers and probably a higher price than if I sold in the June - September time frame...also, if I listed my condo on the market in January and it was still sitting unsold in June and I had not lowered my selling price I might start getting nervous and might consider lowering my sell price as we head into the summer months (which would be better for a buyer such as moi).....is this logic accurate or not?

    Quote Originally Posted by Jess View Post
    We don't seem to have low season anymore, just hot and hotter season. In summer all the europeans come over on their summer vacations, so it's just as busy as in the winter when all the New Yorkers are here.

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    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 elchevere View Post
    I was thinking more along the lines of buyers and sellers, not tourist seasons....do Europeans visit Miami in the summer because it is a cheaper (than winter) vacation or to buy property??....I would imagine if I were selling a condo, the December - May time frame would be the peak selling time and I might get more prospective buyers and probably a higher price than if I sold in the June - September time frame.....is this logic accurate or not?
    Sept is a bad time to sell because the Euro's are gone and its the slowest month of the year. December is also bad because of the holidays. Summer is great for both buyers and sellers because of school season, tourists, and sellers that just enjoyed their last winter.

    At the end of the day, it won't matter too much when you sell unless its Sept or Dec. if buying, you're good year round just about, but if you can avoid those months, do that.

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    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 elchevere View Post
    Probably in the $575 - 725 range......would prefer a 2BR, but there is a real nice, recently built (2011) 1BR loft in SoFi that might make a perfect bachelor pad for me.
    For $725, there is a large $825k condo in a nice surfside building on the beach with no water view that would probably take that offer. She had it at $850k and is getting desperate. But its not a 'bachelor' area by any means.

    I would go loft in Sofi any day for a bachelor. Its the best area hands down with some of the nicest units. 201 Michigan, Meridian Townhomes, Courts 2 Bedrooms with roof patios, etc. Shouldn't be hard to get something under $725k at all.
    Sofi has had no real downturn like downtown miami is experiencing because of their rampant over building.

    2 Bedroom Corner unit at Floridian in the 600s would be ideal as well..but West ave does get busy/noisy at times unlike SoFi which feels like a true neighborhood.

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    Default Re: Got the Green Light to Move to Miami Beach

    Interesting...I was going to ask you how much, if any, of a hit SoFi took in the 2008-09 downturn but that is uncharted territory with all the foreign money that came in...Jefferson Avenue has a couple of nice buildings (Ilona, The Jefferson, 410 Jefferson), etc....thanks
    Last edited by elchevere; 06-16-2016 at 10:18 PM.

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    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 elchevere View Post
    Interesting...I was going to ask you how much, if any, of a hit SoFi took in the 2008-09 downturn but that is uncharted territory with all the foreign money that came in...Jefferson Avenue has a couple of nice buildings (Ilona, The Jefferson, 410 Jefferson), etc....thanks
    The larger buildings got hit the worst of course (like a Yacht club)...it was still affected, but it came back quicker and didn't tank as much, that's for sure. A lot of those little loft buildings like Ilona, Absolut, etc. are owner occupants so they just stayed through and didn't try to cash out like the other investors who got foreclosed on.

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    Default Re: Got the Green Light to Move to Miami Beach

    Ok, so it still would go down at the beach...what I thought...if a 20 % market correction (Sieg Heil Trump) maybe the beach corrects only 5-10%. Similar to what would happen in La Jolla.

    Found a listing for a real nice town home penthouse at Blue Condos on 36th...real nice water views and, to me, a value for the layout and the view.

    That being said, even though it only takes 15 minutes to get to South Beach one would have to add 10 minutes to get down from their unit (34th floor) and on the street from the garage and add another few minutes, plus pay, for parking once at the beach...So we are still looking at 30-35 minutes plus parking to be at the beach in a real nice, larger unit versus giving up square footage to be at the beach already with a walkable score of 97-98...think the beach wins, unless someone leaves me this condo in their will.

    http://m.thejills.com/details.aspx?mls=A10023190



    By the way, thanks for tip on Courts--nicer than I first thought when I rented for a month at Yacht Club in 2014....nice unit available under 700, though the focal point is the kitchen which would go wasted on me.

    That equivalent Blue unit in downtown San Diego would probably run $750-825K and the 1 bedroom at Jefferson (currently $25-40K overpriced), below, in La Jolla (I'm no expert) would probably run $725-750K....even with the run up in prices these past few years Miami/Miami Beach is still a bargain (at least compared to CA and NYC...probably not anywhere else)....hmmm, by moving I get a better lifestyle for less money and an 8% cash raise (no payroll tax...and if I get laid off, my severance package goes untaxed by FL, not to mention retirement income)...gee, wonder what to do..duh (oh, but the Californians will reply with, "oooh, but what about the humidity?"...don't get me started).

    http://www.thejefferson2.com/

    https://www.redfin.com/FL/Miami-Beac.../home/50122715
    Last edited by elchevere; 06-17-2016 at 01:30 PM.

  20. #20
    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 elchevere View Post

    Found a listing for a real nice town home penthouse at Blue Condos on 36th...real nice water views and, to me, a value for the layout and the view.

    That being said, even though it only takes 15 minutes to get to South Beach one would have to add 10 minutes to get down from their unit (34th floor) and on the street from the garage and add another few minutes, plus pay, for parking once at the beach...So we are still looking at 30-35 minutes plus parking to be at the beach in a real nice, larger unit versus giving up square footage to be at the beach already with a walkable score of 97-98...think the beach wins, unless someone leaves me this condo in their will.

    http://m.thejills.com/details.aspx?mls=A10023190
    FYI: Don't let the location of Blue fool you, it does not provide the walkable lifestyle that you hope. Midtown gets boring pretty quick and walking back n forth at night can be sketchy. Plus when the causeway gets backed up, you get backed up trying to get in to the building.

    I would def sacrifice a little size and go with SoFi, hands down.
    Jess, Anders and Asunnysnowman like this.

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