St. Regis Bal Harbour, Officially Opens

Yesterday marked the opening of the most luxurious brand new 5 Star hotel Bal Harbour has ever had, the magnificent St Regis Hotel.


“It was clear to us and the research we did that this was a very special location — very affluent local suburb, attracts a very affluent international audience,” said Paul James, global brand leader for St. Regis, part of Starwood Hotels & Resorts. “It was among the best beachfront locations we had in our portfolio anywhere.”
The $1 billion development, which includes a 243-room hotel and two residential towers, took six years of planning, demolition and construction. Starwood, a global company with a market capitalization of nearly $1.8 billion, financed the project and owns the finished product.
The hotel brings the region’s first restaurant from star chef Jean-Georges Vongerichten, J & G Grill, and its signature butler service. About two dozen butlers will serve on a staff of 500.Their jobs include everything that make a guest feel at home, unpacking or packing luggage, drawing shades, delivering coffee.

The location, right across the street from the famed and exclusive Shops of Bal Harbour, a pedestrian shopping centre that boasts the Who’s Who of Couture Fashion and accessories.

For those who want to do more than visit, the St. Regis development includes 255 condo units in two residential towers, ranging from two to five bedrooms at prices between $1.9 million and more than $10 million. Over 70% of the project is sold out but there are still some amazing properties left for sale. The bulk of these are residences but there are few condo-hotel units for those interested in obtaining an income in their absence. If you are interested in knowing more about the St Regis project, please send us a note here.

For those who have a discerning lifestyle with a focus on fashion, culture and food, the St. Regis is the ultimate address.

About The Golan Team: The Golan Team is a team of Realtors focusing on Luxury Waterfront and Oceanfront Properties. With over 17 years of combined experience, we are here to help you purchase, sell or lease condos, single family homes or investment properties. The Golan Team has successfully listed and sold luxury properties and specialize selling in Miami Beach, Bal Harbour, Sunny Isles Beach, Aventura and Hollywood Beach. To contact us please call (001) 786-333-6200 or email us at info@golanteam.com

Sunny Isles Beach, Florida - Ocean III Unbelievable Buying Opportunity

The Golan Team (786-271-1235) are proud to present for sale at Ocean III in Sunny Isles Beach, Florida, this 3 bed 4.5 bath Oceanfront flowthrough residence on the 23rd floor with Direct Ocean & Intracoastal Views. From a private elevator enter directly into your private foyer. A separate laundry room is located just off this entrance. A double door entry leads into this magnificent residence that is almost 2700 sf under air. This condo features 3/4" mahogany floors throughout the living areas and bedrooms + marble in the kitchen and baths. The master suite includes his and her outfitted custom closets, his and her baths and a bedroom with direct ocean views. The kitchen features Miele and Subzero Appliances. The owners of this unit are the original owners but only used the apartment for a few months so you will see even the oven is brand new and never been used!!! Each bedroom has stunning views of the Ocean or the Intracoastal. They are all very spacious size rooms and feature en-suite bathrooms. Enjoy sunrises and sunsets from two very spacious balconies that can fit table, chairs, outdoor beds and lounge chairs. The views are magnificent and unobstructed. Just check out the pics below!!!

Ocean III is located on the upper end of Sunny Isles Beach. It is a beautiful building and amenities include a 2 story lobby, concierge, valet, gym, pool, full beach service, café restaurant, roof top spa and sun deck, party room, billiards and an Oceanside tennis court.

This residence was just reduced to $991,350 and is an excellent buy in this market. It is also not a short sale, so you can be rest assured for a quick response from the Seller and a quick closing if you desire.



Enjoy Roof Top Jacuzzi & Party Room

Living Room with Stunning Ocean Views Stunning Bay Views from Dining

Room, Kitchen & 2nd Bedroom


Elegant 2 story lobby & Concierge

IF YOU ARE INTERESTED IN SCHEDULING AN APPOINTMENT CALL 786-271-1235

The Golan Team launches new South Florida Luxury Foreclosure Website

The Golan Team at Keller Williams Realty are proud to announce the launch of a new luxury focused foreclosure website.

If you are specifically interested in luxury foreclosures in Dade, Broward or Palm Beach counties (that from just above the Keys to Port St Lucie) click on www.southfloridaluxuryforeclosures.com and sign up for your own personalized free foreclosure mailing list that you can customize to whatever type of property you are interested in. You will receive a weekly list of all foreclosure condos or homes (you specify choose one or the other or choose both!!!) in Southeast Florida.

Foreclosures or REO (Real Estate Owned) are properties that have gone through the entire foreclosure process and are now wholly owned by the bank. We are able to negotiate these properties directly with the bank through their representatives.

As we all know banks are definitely not in the Real Estate business but the money business. Therefore some of these properties can give you the absolute best opportunity to buy at rock bottom dollar.

We urge you to visit www.southfloridaluxuryforeclosures.com and get started on purchasing that great home, vacation condo or investment property today.

Please note this service is being offered to you as a valued subscriber of southfloridacondosblog.com absolutely FREE. At the Golan Team we believe in Helping a Client realize their vision is paramount to our Success.

Inside Word on Oceanfront Foreclosures in Sunny Isles Beach, Florida

For the last 4+ years, Paramount Beach has been trying to sell condos in its prime oceanfront location in Sunny Isles Beach, Florida. It had purchased 2.2 acres of oceanfront property at 16901 Collins Avenue. The plan was for a 47 story building consisting of 232 units. The sales office showed elaborate models, brochures and floorplans. No construction was started at the property location.

In February this year, iStar FM Loans sold the delinquent mortgage to Sunny Isles Property Holdings, which is managed to Carlos Mattos. This past Tuesday the group won a $26.2 million judgement. According to sources, this will give Mattos’s company the inside track at taking the property at the public sale on Sept 4 in the Miami-Dade County Courthouse.

You may recognize the Mattos name. He has been very active in Miami Real Estate recently. On June 17, 2009 a company affiliated with Mattos paid about $6 million for 31 units at 1060 Brickell Avenue, in Miami. Another company affiliated with his business partner, Jorge Mattos recently paid $5.7 million for 21 units at Marina Blue in Marina.

This is not the only foreclosure on the beach in Sunny Isles Beach, Florida.
BankFirst has also filed an $11.7 million foreclosure lawsuit against the developer of the proposed Regalia condominium in Sunny Isles Beach.

The Minneapolis-based bank filed the foreclosure action on June 15, 2009 against Aventura-based Regalia LLC and company members Jerold M. Kaufman, Abraham Cohen, Paul C. Murphy and Avra J. Jain, according to Miami-Dade County Circuit Court records. The action targets the vacant 1.14-acre beachfront site at 19505 Collins Ave. in Sunny Isles Beach.

Regalia got approval to build the 43-story, 40-unit condo, but construction never got under way. The preconstruction prices were from $6.3 million to $14.5 million for the 5,515-square-foot units with 2,100 square feet of balcony space.

BankFirst’s lawsuit also names British Virgin Islands-based Kannon Investment Business, which gave Regalia a $5 million second mortgage.

Regalia bought the site in 2001 for $9 million.

Buyer revealed for Shaq's House

We were one of the first to break the news of the sale of Shaq's house. Final sales price was $16,000,000 (a couple of million loss for Shaq who bought the house for $18,800,000 in 2004).

The buyer was none other than Supermodel Naomi Campbell's boyfriend billionaire Valdimir Doronin.

Keep posted to http://www.southfloridacondosblog.com/ for updates on Southeast Florida Real Estate news.

Shaq's Star Island house sold!!!

What a week of news here in Southeast Florida...

Earlier we reported about the sale of the Regent Bal Harbour. Now after 4 years on the market with asking prices reaching $32,000,000, the magnificent Mediterranean estate of Shaquille O'Neal has sold.

This is so hot of the press that if you ask any Realtor to check the local Multiple Listing Service, the property still shows as Available!!!

I have heard from a trusted colleague that after 4 years on the market for sale, Shaq’s house at 26 Star Island has sold. It is a very confidential deal (lots of anonymity with Corporation names etc) but it is sold for under the asking price of $22,500,000.

I have personally had the opportunity to tour the house and I can tell you it is magnificent. Sitting on 2.5 acres with the most stunning open water views, the house is breathtaking. Amenities include an indoor basketball court (of course remember whose house it is!!!), a full size tennis court, a large infinity pool (emblazoned with Shaq’s famous Superman logo), a 2 bedroom guest house, workout room, huge great room, dining room, kitchen and a master suite fit for a king…The main house has 7 bedrooms, 8 full baths and 2 half baths and occupies 19,440 sf. Got a car or two - no problem here with a 6 car garage and huge driveway to park at least a dozen more.

About a year ago when the price of the house was $32,000,000 my partner, Eyal and I showed the property to a wealthy client of ours. It wasn’t easy to arrange the showing, as you must imagine the confidentiality and background checks we had to go through. In my opinion and I have had the honor and pleasure of viewing many of the most beautiful properties in Southeast Florida, this house was unique. On Star Island it ranks as one of the top properties in size, land and positioning on the Island.

Star Island is home to many personalities including Gloria Estefan, P Diddy, Rosie O Donnell, Tommy Motola, Philip Frost (formerly of pharmaceutical giant IVAX) and more. It is located just south of South Beach. There are three island that form this cluster. The other two are Hibiscus Island and Palm Island.

Currently there is only one other property available on Star Island, a 10 bedroom 9 full bath and 3 half bath home with an asking price of $15,500,000 on over an acre of land. Click to see photos of 45 Star Island.

If you are interested in viewing this home or want to see other great waterfront home or condo opportunites here, contact us at info@golanteam.com or call us at 786-271-1235 or 786-333-6200.

WCI sells Regent Hotel in Bal Harbour, Florida

It has definitely been an interesting week so far in Southeast Florida Real Estate. Top news of the week is the selling of its shares in the Regent Bal Harbour by WCI Communities only to have the Regent Hotel Chain pull out of the property the next day. The Regent Bal Harbour or I should say the Bal Harbour Hotel which I believe will be the new name) is located on one of the prestigious oceanfront lots in all of South Florida.

Right on the Haulover Inlet the views are absolutely spectacular. It is a condo hotel project which like most Real Estate in South East Florida has seen a drop in value. It shares the same address as One Bal Harbour – one of the most luxurious condo buildings on the Beach.

Currently there are 18 listing for sale ranging from studios to 1 bedroom suites. Prices range from $369,000 (an unbelievable short sale opportunity) to $1,150,000. Owners can use the units as well as put them into the hotel program to earn income while they are vacant. Maintenances fees run between $3000-$3500 depending on the size of the unit. However this maintenance fee can be recouped depending on owners entering their units into the hotel pools and the revenue this generates. Please click to see properties available at Regent Bal Harbour

Earlier I mentioned that the hotel shares some amenities (like a gorgeous pool deck and 24 hour valet, housekeeping and full concierge ) with the condo One Bal Harbour. This luxurious building currently has 33 properties for sale ranging from 1972 sf (2 bed 2.5 bath) to 5200+ sf (4 bed 4.5 bath) and are priced between $1,295,000 and $6,299,000. Many of these units have been reduced in price. To see pictures click One Bal Harbour Properties.

If you would like more information or to arrange a private viewing the Golan Team are available at 786-271-1235 or 786-333-6200.

Sotuh Florida Real Estate - it depends on how you decide to see things

I had the pleasure of reading some wonderful lessons from a business coach and there was one lesson that resonated deeply with me. It was not phrased as a question but as a statement:

“Success depends on your mind-set”

Never have I heard a more truthful statement. The economy is telling us that we are suffering, that we cannot be successful because the economy is so bad. This self-limiting belief can prevent us all from achieving.

The coach went on to explain, as a child you are already programmed with self-limiting beliefs such as, “don’t talk to strangers” or “don’t be too forward” etc. These beliefs can actually hinder you in the future as they put negative and limiting beliefs.

Think of it like this: if you become excited and enthused about something no matter who you speak to about it they too will “catch your enthusiasm” and feed off your positive energy. Unfortunately the opposite also holds true.

As an active Realtor in today’s market, I am always hearing about how negative the market is. The fact is what can be negative to one person can also be an opportunity in disguise. Today’s Real Estate market has plenty of these opportunities to find. Prices are lower. Banks are more willing to negotiate and more and more Sellers have become realistic. Remember as a Seller you cannot think of what you need to sell for the price will only be set by what Buyers will be willing to pay for it.

As a Realtor I am having these conversations daily with my Sellers. I explain that there are ways to capitalize on this market but that you must also be willing to invest. For instance, did you know that staging a property can help not only sell a property faster but also for a higher dollar amount. De-cluttering is also another useful tool. I explain to Sellers that the moment you decide to list a property for sale is the moment that your property goes from being your “home” to an “investment”. Working with an experienced Realtor will benefit you tremendously.

To find out the current market value of your property send us an email at info@golanteam.com.

Sunny Isles Beach - Ocean III Best Deal - Stunning 3 bed Oceanfront unit

Ocean III is a beautiful oceanfront complex in Sunny Isles Beach, Florida built in 2003 by The Related Group and designed by the architectural firm of Sieger Suarez. It soars 32 stories and boasts oceanfront amenities such as pool, gym, café, party rooms, tennis courts, roof top Jacuzzi and sundeck as well as conference rooms, valet, security and self parking privileges.

Most units feature private high speed elevators that open into private foyer areas. The building was specifically designed that every unit will have ocean views.

Currently there are 28 units for sale at Ocean III showing this is a very healthy building even though the economy is struggling. The building has 215 residences in total ranging from 2-4 bedrooms and 1591 sf to almost 4000 sf.

We have had the privilege of listing 2307, located on the 23rd floor. It is a flowthrough residence with 2649 sf under air + two huge entertaining style terraces.

This residence features 3 bedrooms 4.5 bathrooms and has two balconies allowing for direct east (oceanfront) and west (open bay and City of Aventura) views. In a word, “Breathtaking.” With brazilian cherry ¾” solid wood floors throughout, this residence is vacant and available for sale or rent. The bedrooms are all spacious and have ensuite bathrooms. The master suite includes his and her walk in closets, his bathroom and her bathroom with a jacuzzi overlooking the ocean. The kitchen is eat in and features Miele cooktop, oven, subzero Refrigerator and a Miele dishwasher.

The last sale of a similar unit was December 2007 when the same unit, two floors higher, sold for $1,270,000.

We have just reduced this unit to $1,065,000 an unbelievable opportunity for the right Buyer.
Please call us at 786-271-1235 to schedule a visit and we hope you can call this magnificent place “home” soon. PS It is also available for rent at $5000/month unfurnished.

Keller Williams Family Reunion - Lessons for All

Last week was a real wake up call. The whole Golan Team attended the Keller Williams Family Reunion in Orlando, Florida. For most when you think of a “Family Reunion” you think of fun in the sun, maybe a cruise, but most likely a big party and a lot of good memories.

For Keller Williams Agents, Family Reunion definitely does include the spirit of fun but it is more about work, goals, ethics and taking your business to a new level of achievement. For the Golan Team, that was exactly what we went to Family Reunion to achieve.

Almost 7000 Keller Williams Agents thought the same thing. Gary Keller, who founded the company in 1983 talked about all the opportunities we have as Agents in this “Shifted” market. There were approximately 100 seminars to attend over the three day period and there many lessons to learn whether you were a Realtor, a Buyer, a Seller or an Investor. Below I thought I would share a few thoughts that I think we can all learn lessons from:




These were my top 5 lessons that have changed my outlook not only on the Real Estate market but also in my personal life…


1) FOCUS ON WHAT YOU GET FROM AN EXPENSE: This is universal.. if you are subscribing to a service are you getting the most for it? Cut your expenses to a minimum…ask yourself do you really need this? Is it producing more than it is costing you? Are you bringing in more than you are spending? This principle can be applied not only to Real Estate but to every expense in our everyday lives.

2) If you want to sell your house then, “BE IN THE MARKET NOT ON THE MARKET”. Listing a property today is not the hard part – selling it is. The truth is that if a property is priced right (defined as being in the bottom 10%-20% of the lowest property price point for your property) it will sell…These are the properties that are attracting Buyers and know THERE ARE BUYERS OUT THERE. So remember in order to achieve your goal of selling a property = PRICE IT RIGHT.


3) Know that the price given to you at a Listing Presentation has an expiration date just like the milk in your refrigerator!!! Again thinking about the principle above, you must always be aggressive in your pricing and watch what is selling around you and why it is selling and yours is not. Be diligent in reducing your price of your property to attract the most Buyers. This is called, “the worry price” the price at which Buyers will worry that if they don’t jump on it, they will miss the opportunity.

4) Be consistent, Be Persistent and think like a Warrior. We all need to understand that we are fighting for our survival (just look at the economy) so think like a Warrior and keep that mentality to achieve your goals in this marketplace.


5) “Qualify your expectations” Be realistic about your goals. If you are listing a property then be realistic about the selling price. This market is based on the principle of timing and opportunity. Opportunity is a result of attracting the Buyer who will pay the best price in this market for your property and it is up to you to capitalize on this.

If you would like to discuss any of this further, please feel free to comment or contact me via email : debra@golanteam.com or phone 786-333-6200. If you also want to know how to sell your property and attract multiple offers, again please contact us to discuss strategies.

Bal Harbour - BALMORAL - Best Priced Condo attracts Multiple Offers

Every day I am asked, “how is the Real Estate market doing…it must be dead?” It is asked as a question, but I hear it more and more like a statement. However, I always answer and say truthfully that the market is "Great" for us, business is "Great." The truth is it is "Great." This market is making us not only work harder but truthfully work better. It is a market of quality not quantity. What I mean by that is that if you have a property that you price right, stage right and market right – the Buyers out there will see the value of the deal and jump right on it…

Case in Point: Balmoral, Bal Harbour

We recently listed (just 3 days ago) a 2 bedroom with 2 bathroom, 1388sf (currently set up as a one bed convertible) with oceanview from every window at The Balmoral, in Bal Harbour, FL. The Balmoral is a large and elegant building comprising of 423 residences + cabanas. The building has many amenities including restaurant, gym, concierge, tennis, card rooms, business center and more. A few years ago it underwent a huge assessment and renovation and when you walk in you feel the elegance, richness and high level of service the building is famous for.

We met with the Sellers and their attorney (it is an estate sale) and discussed the pricing strategy for the unit. We agreed to price it correctly from the beginning to achieve a high volume of traffic and hopefully multiple offers. Below are a couple of pictures of the unit and views...

I am pleased to say after three days on the market we have had over 6 visits scheduled to the unit and two offers presented. I am confident through our correct pricing strategy and constant marketing approach we should have this property under contract within a week…Now again ask me, “how is the Real Estate market doing” and again I will answer, “GREAT!!!”.

By the way, if you want to check this unit out call us at 786-333-6200 to schedule an appointment.

THE GOLAN TEAM ANNOUNCES ITS NEW LOCATION

THE GOLAN TEAM ARE ON THE MOVE

The Golan Team, which has long been associated with the selling, purchasing and leasing of luxury Oceanfront and Intracoastal front Real Estate in Miami Beach, Bal Harbour, Sunny Isles, Aventura and Hollywood are pleased to announce their new affiliation with Keller Williams Realty.

“The Keller Williams Belief system of

Win-Win - Or no deal
Integrity - Do the right thing
Customers - Always come first
Commitment - In all things
Communication - Seek first to understand
Creativity - Ideas before results
Teamwork - Together everyone achieves more
Trust - Starts with honesty
Success - Results through people

exactly mirror and matches that of the Golan Team.” Debra continues, “our clients have come to expect that extra level of service and attention and we found that same approach in Keller Williams.”

To contact the Golan Team please call 786-333-6200 or 786-271-1235 or visit us at www.golanteam.com.

Southeast Florida Luxury Real Estate - 10 New & Hot Trends in Home Design

The International Builders Show in Las Vegas is always a great place to visit as a tradesman, designer, builder, homeowner or contractor. There are many ideas and trends that are shown that basically set the pace for the coming year's NEW and HOT IDEAS.

According to industry leaders if you want to sell that property this year follow these tips:

1) Go contemporary - Today's minimalist design you may mix straighter furniture elements and use two different colors repeated throughout (i.e. green and white). But remember to add those fun and bold accessories (could be a crazy mod orange chair or a traditional gilded mirror).

2) Don't think of lighting as utility - think of it as art - look at creative and funky shapes and designs. Remember they can be decorative as well as functional.

3) Green is in - efficient appliances, LED lighting etc., conservation is the way.

4) His and Her "everything" is in - from closets to vanity think in pairs!!!

5) Windows are huge - Buyers are looking for that floor to ceiling window that let's lots of natural light in.

6) Wood details are back in style - use them in light and dark tones on ceilings, moldings, floor inserts and more.

7) Mirrors are hot!!! They can be a focal point, make a room look larger and add glamour.

8) Electronics everywhere - think IPOD docking station in the kitchen, plasma in the bathroom etc.

9) Bring Nature in - use trees and tree design as decorative art. Try to seemlessly flow the outside in and the inside out.

10) Outdoor living serves as an extension of your house - remember pay attention to the outdoor entertaining areas think - pool plants, fire pits, great seating areas, hammocks etc.

Hope these tips help you whether you are just decorating or intending to sell. If you want more contact us here.

Warren Buffet's Words of Wisdom

Everytime I write a blog I always make sure it is real estate related. However once in a while the lessons we learn every day transcend an industry and can affect our whole outlook on life.

Today's blog I leave it to you to reflect on the wise words of Mr. Warren Buffet, who is the ultimate owner of Esslinger Wooten Maxwell (EWM Realtors) and for whom I work...

Subject: Warren Buffet in 2009

Our happiness is diluted and our peace is threatened by the financial illness that has infected our families, organizations and nations. Everyone is desperate to find a remedy that will cure their financial illness and help them recover their financial health.Every new year, I adopt a couple of old maxims as my beacons to guide my future.This self-prescribed therapy has ensured that with each passing year, I grow wiser and not older.

This year, I invite you to tap into the financial wisdom of our elders along with me, and become financially wiser.

Hard work: All hard work brings profit; but mere talk leads only to poverty.
Laziness : Sleeping lobster is carried away by the water current.
Earnings: Never depend on a single source of income.
Spending: If you buy things you don't need, you'll soon sell things you need.
Savings: Don't save what is left after spending; spend what is left after saving.
Accounting: It's no use carrying an umbrella, if your shoes are leaking.
Auditing: Beware of little expenses; a small leak can sink a large ship.
Risk-taking: Never test the depth of the river with both feet.
Investment: Don't put all your eggs in one basket.

I'm certain that those who have already been practicing these principles remain financially healthy. I'm equally confident that those who resolve to start practicing these principles will quickly regain their financial health.Let us become wiser and lead a happy, healthy, prosperous and peaceful life.

Warren Buffet Opportunities are never lost. The other fellow takes that you miss.

Hollywood Beach Florida - Staging Sells a Luxury Penthouse at the Diplomat

What a great post to write!!! We just closed our first luxury sale of the year. The Penthouse at the Diplomat is a magnificent 4700 sf+ 4 bed 5.5 bath + media room with stunning ocean and bay views just sold!!!

When we got this listing almost 9 months ago it was a sprawling and almost cavernous space. We hired stagers who came in and staged the entire place making it go from a space to a home.

If you own a property that isn't selling or if you are getting ready to list it for sale, think about staging the property. It really helped us and the Sellers in this case.

The Diplomat Oceanfront residences is located on the ocean in Hollywood Beach adjacent to the Westin Diplomat Hotel and residents of this building can enjoy all the services of the Westin Diplomat Hotel including room service, spa facilities, maid service and concierge. The apartment sizes range from 2200-7000+ sf. There are currently 30 properties for sale at the Diplomat Oceanfront Residences. We love showing properties there and all the clients that we have sold there absolutely love it!!!

If you are thinking about moving to the Ocean and want to wake up by the beach, this is a great building to consider and you can count on the Golan Team to get you the best deal.

Should you buy Residential Real Estate with a Commercial State of Mind?

Bay Harbor Islands, FL – Luxury Real Estate
Should you buy Residential Real Estate with a Commercial state of mind?

When you go and buy the home you live in, it is a fact that you buy it with your heart and mind. Your heart takes in the decor, the paint on the walls, the amount of sunlight that streams in through the windows, how the bedrooms are laid out, the color of the kitchen granite etc. etc. etc. None of these factors really ever play in the decision making of a commercial property.

When purchasing a commercial property it is all about the numbers. The paint of the wall or the type of flooring is of less concern then does it work on a price/ft basis, or the income it will generate or the return on investment it will produce.

Of course some of the commercial conditions for purchase do not apply for a property you are going to live in, but certain trends remain common between commercial and residential real estate primarily - that is - location, location, location. Just like prime commercial real estate in an excellent location will fetch a higher price so to does this analogy work with residential real estate. So the question begs to ask – in this day and age where financing is tight and everyone is approaching real estate with caution should we approach Residential real estate (the house you will call home) with a commercial approach of buying it solely from a financial analysis?

Case in point – I am negotiating on a wonderful house in Bay Harbor Islands, Florida. This is a single family home neighborhood within walking distance to the beach, the shops at Bal Harbour and just minutes from South Beach. My client, who is a long time commercial buyer is approaching this purchase solely from a commercial aspect. He looks at the market and makes his offer accordingly. The Seller has rejected the offer...do you agree?

In analyzing Bay Harbor Islands Single Family homes over the past two years since this shift has begun we found the following information:

There have been only 23 single family homes sold in Bay Harbor Islands (this number reflects those sales we have sales price information for) since Jan 1, 2007. 11 of these properties were located either on the canal or wide open bay and 12 were on dry lots. The market year on year from 2007 to 2008 declined on average 21% (we analyzed waterfront properties average square price year on year). Though this number seems high it is actually much less than then the average Miami-Dade county drop which was 35% in the same time period (Source Trendgraphix).
We are finding more and more of Buyers are becoming more purchase savvy in this Real Estate market and are buying their homes with this frame of mind. As Realtors it is becoming more challenging to deal with this objection and convince a Seller that their property must not only meet a Buyer’s wants, needs and desires, but also stand up to the market shifting downward and the Buyers low purchase price offerings.