Actor Matt Damon’s Miami South Beach home is on the market for $20M, according to Miami Herald. The Wall Street Journal reported that the home was built on two parcels of land that was purchased by Damon in 2005, totaling nearly $15 Million. If sold at the asking price, the actor is set to gain $5 Million in profits. Damon also reportedly purchased a $15 Million Property in Los Angeles in late 2012. Matt Damon’s Miami Beach Mansion Damon’s Miami Beach mansion currently...Continue Reading!
As tax season winds down to a close, there’s still a small window of time left to gather paperwork for tax deductions on luxury homes in Miami. The clock is ticking on April 15th, so here are a few tidbits on tax deductions you may claim: Energy Efficient Appliances – Miami Homeowners who have upgraded their homes with insulated windows, doors, energy-saving HVAC systems, refrigerators, stoves and other appliances may claim a percentage of the buying cost. Mortgage Interest – Ask a...Continue Reading!
Are you looking to sell your luxury home or condo in Miami? Do you want to sell it fast, for top dollar, and with the least amount of hassles possible? This is where an experienced luxury Miami REALTOR comes in. Sydney Server Real Estate is well-versed in putting homes and condo listings in the best light – and in front of a targeted audience to get your home sold faster. What Are The Methods Used for Selling Luxury Miami Homes? Sydney Server Real...Continue Reading!
If you’re looking to buy Miami luxury real estate, and more specifically a new high-end condo, here’s what you should know before buying: Signing The Condo Association’s Contract: • The Fine Details – Before signing a condo contract, be sure to read the document in its entirety to avoid surprises in the future. A real estate attorney can additionally help to look over this legal document, and advise buyers against any potential pitfalls. • Think About The Future – Will association rules affect the sales...Continue Reading!
A luxury condo may be more appealing than a home for several reasons including: • Amenities – in Miami’s luxury real estate market, there’s a huge attraction to high-end condos that offer perks like state of the art fitness centers, well-maintained Infinity pools, 24-hour security, concierge, five star restaurants on the premises and much more. • Less Chores – Given that routine maintenance tasks like landscaping are taken care of, the luxury Miami condo owner has less to worry about – except maintenance fees....Continue Reading!
Pet parents may be concerned about relocating into a luxury condo tower with a pet, but numerous residents make these high-rises home to the entire family. Here are some key pointers when selecting a luxury condo in Miami as a pet owner: Be sure to ask the HOA if pets are allowed, and if so what specific breeds are permitted. This should be answered before purchasing the property. Find out the proximity of parks where pets can sneak in their daily exercise. Examples...Continue Reading!
If you’re a potential luxury home buyer in Miami, the process will require more due diligence than buying a lower priced property. Most luxury homes or condos in the area require as much as 30% down and as a result, potential buyers should ensure that this prerequisite is available when approaching lenders or bankers for hefty loans. In addition, prospects can anticipate a longer approval timeframe since documents are carefully perused by these same lenders. These documents will likely include proof of...Continue Reading!
Tax cuts for luxury homeowners expired in January 2013. So what can wealthy property owners in Miami expect to pay with new rates following the fiscal cliff? New tax rates include 20% on capital gains compared to the previous 15%. This rate applies to singles who have earned over $400,000 or $450,000 for couples in 2012. The 5% difference can yield hundreds of thousands in tax liabilities when selling million dollar homes in Miami. A report by DataQuick MDA revealed that...Continue Reading!
The Ultra Music Festival was a huge event for the city of Miami this year, drawing thousands of people from around the world. Ultra Music Festival was in its 15th year leg, and is proclaimed to be the most famous electronic music festival around. This year also marked the first two-weekend run, as previously the mega music fest promoted only one weekend of memorable performances and entertainment. Ultra Music Festival’s Economic Impact on Miami CBS Local reported that the event...Continue Reading!
Many high-rise condos in Miami require as much as 30-40% down, but this may all change according to news reports that big names will sign contracts for as little as 3% down. 97% financing was a luxury that was only seen pre-recession days. At the tipping point of this loan policy is 4 Midtown in Downtown Miami. The tower according to the Miami Herald, is currently undergoing renovations and has initiated the program to jump start sales. This 97% financing program...Continue Reading!