Homestead Exemption - What is it?
Property owners with Homestead Exemption and an accumulated SOH Cap can apply to transfer (or "Port") the SOH Cap value (up to $500,000) to a new homestead property. This application is known as the "Transfer of Homestead Assessment Difference", and the annual deadline to file for this benefit and any other property tax exemption is March 1st. First-time Homestead Exemption applicants and persons applying for the Homestead Assessment Difference (Portability) can file online.
The Homestead Exemption is a valuable property tax benefit that can save homeowners up to $50,000 on their taxable value.
- The first $25,000 of this exemption applies to all taxing authorities.
- The second $25,000 excludes School Board taxes and applies to properties with assessed values greater than $50,000.
Application for Miami-Dade County: https://www.miamidade.gov/Apps/PA/PAOnlineTools/AutoOnlineFile/ExemptionOnlineMainMenu.aspx
Application for Broward County: https://web.bcpa.net/homesteadonline_with_portability/web/index.aspx
Application for Palm Beach County: https://secure.co.palm-beach.fl.us/papaefile/web/PINRequestAndGeneration/HEApplicationProcess.aspx
Be sure to contact us if you need assistance locating or completing the online application to apply for property tax savings!
Mercedez Benz Branded 67-Story Mixed-Use Tower is Coming to Miami
Dubbed Mercedes-Benz Places, the 67-story mixed-use building in Brickell is slated to open in 2027.
Two months after Mercedes-Benz unveiled its inaugural real estate venture in Dubai, the marque is expanding its branded residence footprint to the United States.
The German automaker has teamed up with JDS Development Groups to build Mercedez-Benz Places, a 67-story mixed-use tower at 1 Southside Park in Miami‘s bustling Brickell neighborhood. Altogether, the forthcoming complex will span more than 2.5 million square feet and comprise a whopping 791 private homes. Prices for the units will start at $550,000 for studios and max out at $4 million for a three-bedroom spread. Details on the building’s penthouses will be released at a later date.
In addition to the condo residences, the eye-catching development will include 200,000 square feet of office space, top-of-the-line health and wellness facilities, a 174-key hotel, retail shops, and on-site parking. Designed by renowned urban landscape designers Field Operations, who are best known for their work on the Highline in New York and the Underline in Miami, Mercedez-Benz Places will also include the largest green area in Brickell.
“It is a privilege to work with Mercedes-Benz and move beyond a traditional residential building to create a new community for the future,” Michael Stern, founder and CEO of JDS Development Group, said in a press statement. “Underpinned by sustainable building methods and design, Mercedes-Benz Places in Miami will create a legacy not just for Brickell but for Florida as a whole.”
In terms of the overall look, the Mercedes-Benz aesthetic will be integrated throughout the building. More specifically, the luxury carmaker said the cube-like structure will incorporate the company’s “sensual purity” design philosophy and embrace free-flowing lines and lots of shimmering silver tones.
“Our branded real-estate venture in Miami embodies the strategy behind Mercedes-Benz Places,” added Eva Wiese, head of Mercedes-Benz customer solutions GmbH. “We want to develop exclusive residences with our partner that are undeniably Mercedes-Benz and create a new mode of urban living with vibrant communities. Ultimately, we want to create places to come home to in a location worth living in.”
Construction on the innovative high-rise has already started, and move-ins are slated for 2027.
Original article by: By ABBY MONTANEZ - Robb Report
Miami Realtors 2024 Inaugural & Awards Celebration
It is officially year 6 of sitting on the Board for MIAMI Realtors! 🤯 The inaugural and awards celebration was nothing short of amazing. It’s always a great time to connect with phenomenal real estate professionals who go above and beyond for our industry. Honored to be serving on the 2024 Miami Realtors Corporate Board of Directors as Secretary.
The MIAMI Association of Realtors represents over 60,000 professionals and is the largest local Realtor association in the U.S. The Association and its Board of Directors are dedicated to our members, leadership in the industry, the real estate profession, and the communities we serve. Our leaders impact the market, further our international presence, make key policy decisions and recommendations on important issues affecting the real estate industry, analyze trends and information, and provide the most impressive and comprehensive package of programs, products and services available in the market today.
Meet your MIAMI Realtors Board of Directors here: https://www.miamirealtors.com/about-miami/miami-leaders/miami-corporate-board-of-directors/
5.25% Fixed Rate + 3% Credit to Closing Costs in Florida City!
Move in soon!
1100 W Palm Drive
Florida City, FL 33034
From Mid $500's
Move in by February 2024! Purchase your new home with amazing incentives -- a 5.25% fixed interest rate and 3% credit toward your closing costs! * Buyer must sign a contract between 1/11/24 - 1/27/24, close on the closing date stated on the contract and use one of ONX's preferred lenders to take advantage of these incentives.*
New Construction Pure Concrete Home Solid X+Construction with Impact Windows! The homes have 5 bedrooms, and 4.5 baths, including a guest suite with full bath and an independent entrance on the first floor. The home showcases a beautiful design with high-impact glass windows, high ceilings, and soft-close cabinets. Upgraded kitchen with stainless steel appliances, LED lights, quartz countertop, pantry, and laundry room hook-up. Low-cost homeowners' association.
- 5 Beds
- 4 ½ Baths
- Contemporary House
- 2,281 sq ft
- 1 Garage
- Year Built: 2023
- HOA Fees: $35/month
On Alba, an Onx Community offering two-story homes with 5 bedrooms with a signature flex room on the ground floors could be office or guest room with closet and full bathroom. On Alba is built tough with X+ Construction Technology, a pure concrete home with an elevated foundation and impact windows. Located in the gateway to the Florida Keys. In the desirable Redlands area of Florida City. The Onx Community features a central park with a football field, basketball courts, beach volleyball, playgrounds for the kids, and much more!
Amenities
- Low HOA
- Central Park
- Beach Volleyball
- Football Field
- Soccer Field
- BBQ and Gazebos
- Kids Playground
Leveraging Market Stats Webinar with Miami Realtors
Miami Realtors has a phenomenal webinar series that is hosted by our VP of Communications, Chris Umpierre, and a different Miami Realtors Leader every month. I had the honor of co-hosting the webinar for the third time! We went over the most recent available market statistics and dissected what was happening in our South Florida Real Estate Market. As a real estate broker who helps people buy, sell and invest in Miami real estate, it is important to marry my experience in the marketplace with the overall sales data for our specific market in order to have full understanding and context on the market in order to properly advise our clients and customers. When it comes to real estate, ignorance is NOT bliss. The more we know, the more we are able to make knowledgeable and strategic decisions in our businesses and protect our customers while transacting. I pride myself in always being a student of the industry and I encourage my fellow real estate professionals to do the same. It is how we remain knowledgeable, sharp and informative resulting in providing quality service and always being of value to our clients and customers.
If you missed the live webinar, you can watch the recording here in this blog post. Whether you are a buyer, seller, looking to invest, a real estate professional, or someone just curious as to what is happening in the South Florida real estate market, you will find massive value in this webinar. Here are some key takeaways you will receive:
- What’s the latest on rising mortgage rates and how are they impacting the market?
- What’s the latest on the intense demand and lack of supply?
- What’s happening in the luxury sector?
- What factors are fueling demand and how will they affect future market activity?
- How does market performance vary by price point, area, and other factors?
Are you in the market to purchase a home or to sell your existing one? Let's schedule a call to discuss your specific needs.
Miami and Florida Remain a Hot Spot for International Property Buyers
The National Association of Realtors has released their 2023 Global Study regarding International Transactions in U.S. Residential Real Estate. Here were some of the key takeaways regarding the Miami and Florida real estate market and how they have remained dominant a dominant market for international buyers!
- Foreign buyers are less impacted by higher mortgage rates, as 42% paid all-cash
- Florida remains the top destination for foreign buyers, with a buyer share of 23%.
- Florida’s main buyers were from Latin America (46%) and Canada (24%).
- It was the top state destination among Canadian and Colombian buyers.
- Florida was the top location for properties sold by foreign clients, accounting for 31% of properties sold by international clients.
- 34% Increase in Dollar Volume of MIAMI Foreign Buyer Residential Purchases in 2022 compared to 9% Increase Nationally
- 25% Year-over-Year Increase in MIAMI Foreign Buyer Residential Purchases in 2022*― 8% Decline Nationally
- (see attached map)
- 55% of MIAMI REALTORS®Had an International Customer*― Significantly Higher than National Share of 17%
- Investment Security and Desirable Location are the Main Reasons Foreign Buyers Purchase Property in MIAMI Area (see attached pie chart)
Source: NAR 2023 Global Study International Transactions in U.S. Residential Real Estate
Miami Market Update
Miami Single-Family Homes |
June 2023 |
June 2022 |
% Change Year-over-Year |
| Closed Sales | 1,004 | 1,139 | -11.9% |
| % Paid in Cash | 26.6% | 30.2% | -11.9% |
| Median Sale Price | $622,500 | $579,000 | 7.5% |
| Dollar Volume | $1,038,246,440 | $1,200,985,519 | -13.6% |
| % of Original List Price Received | 97 | 100 | -3% |
| Median Time to Contract | 27 | 15 | 80.0% |
| Median Time to Sales | 71 | 60 | 18.3% |
| Active Inventory | 2,911 | 3,422 | -14.9% |
| Months Supply of Inventory | 3.3 | 2.8 | 17.9% |
| Miami Townhomes & Condos | June 2023 | June 2022 | % Change Year-over-Year |
| Closed Sales | 1,360 | 1,752 | -22.4% |
| % Paid in Cash | 56.0% | 52.8% | 5.6% |
| Median Sale Price | $418,000 | $410,000 | 2.0% |
| Dollar Volume | $941,704,800 | $1,260,758,472 | -25.3% |
| % of Original List Price Received | 96 | 100 | -4% |
| Median Time to Contract | 32 | 22 | 45.5% |
| Median Time to Sales | 77 | 67 | 14.9% |
| Active Inventory | 6,116 | 5,817 | 5.1% |
| Months Supply of Inventory | 5.0 | 3 | 72.4% |
Colombia is Once Again Top Country Searching Miami Real Estate
Colombia posted the most global web searches for Miami homes in May 2023, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia has now finished No. 1 or No. 2 among the top list of foreign countries searching for Miami real estate in each of the last 15 months. Colombia accounted for 10.9% of all international searches on MiamiRealtors.com in May 2023, near its percentage of searches in May 2022 (12.34%).
South Florida Agent Magazine - Miami YPN is now Global!
I had the pleasure of being featured in South Florida Agent Magazine! The article is called “MIAMI Realtors Launching New Young Professionals Network Global Event in Dubai” where I wrote about how our YPN Congress in Dubai was birthed, and Miami YPN's mission to expand our reach and network GLOBALLY with real estate professionals and industry leaders.
The article is also published online on the South Florida Agent Magazine website, and I encourage you to read it and share it on your social media channels!
Be sure to follow @MiamiYPN and @YPN.Global on Instagram to learn more about dates, registration, schedule, itinerary and more! We are extremely excited about this endeavor and to collaborate with Dawood Al-Shezawi, president of the International Property Show and Invest in Dubai Real Estate, to bring this mission to fruition. Miami YPN is now global!
City Spotlight Miami Springs
I had the honor of hosting the City Spotlight for the City of Miami Springs with Mayor Maria Puente Mitchell and Miami Realtors. The Mayor shared some great information about the revitalization of the Miami Circle and 36th street. I was able to share a market update about the Miami Springs real estate market and our Miami Realtors CEO, Teresa Kinney, presented our new Global headquarters, which will be in the heart of Miami Springs!
Thank you to everyone who attended! Make sure to follow @themiamirealtors to learn about future City Spotlight events!
Aria Reserve Miami - The Tallest Residential Waterfront Dual Towers in the United States
Aria Reserve Miami
A pair of glass towers with flowing design profiles rise high above Miami’s chic Edgewater neighborhood. Directly on the shores of Biscayne Bay and surrounded by lush gardens and nature, Aria Reserve is immediately recognizable, yet feels like a private estate hidden away from the rest of the world. It is a first-of-its-kind relationship between design and nature, which creates an atmosphere of total serenity.
2 Tallest Waterfront Dual Towers in the United States
5+Acres of Waterfront Reserve
547 Linear Feet on the Water
2+Acres of Exclusive Amenities
Every unit has direct waterfront views
One to four-bedroom residences are priced from $850,000 to over $2 million. Only $50,000 to reserve your new home in the sky!
Pricing & Opportunities
- One Bedroom - Sold Out!
- Two Bedrooms - From $1,340,000
- Three Bedrooms - From $1,364,900
- Four Bedrooms - From $2,140,900
Payment Plan
- Reservation $50,000
- 20% Deposit at Contract
- 5% Deposit at Groundbreaking
- 10% Deposit at the 20th Floor
- 5% Deposit at Top-off
- 60% Deposit at closing (financing available)
