How important is photography to selling real estate? Well, it's like bread and butter, mac and cheese, ying & yang. I think you get the point. They are intimately tied together. There is tons of research that discusses in great detail how properties with excellent photos get more traffic. They sell quicker. They sell closer to asking price. The same can be said for almost ANY product being presented on the internet when the viewer has to rely on a combination of images, write-up and reviews.

But being that real estate is such a big investment and so important, It's still surprising some of the bad images you see? How do you get excited about a blurry couch or a a view that isn't real? This and sadly much more is being passed off as something that is supposed to motivate you to see a property... I don't think so.

I'm a broker based in Miami, Florida who has been involved in real estate for over 25 years. To this day I marvel at how much faith and patience property owners put in agents that represent them poorly. These owners are sometimes forced to look past not just bad images but poor marketing, due diligence and communication skills. Don't get me wrong. I'm not bad mouthing the industry as a whole. It's more about pointing out something that happens enough times to warrant a rant on my part...

In fairness to property sellers everywhere, there are contracts and financial pitfalls that potentially bind the seller of a property to less than ideal circumstances. Sometimes out of obligation, friendship, cost, contracts, etc., you end up hoping for a miracle versus planning for success. There are also times when people sell you on an idea of value that may have little to do with the reality of your property? You don't see this phenomenon as much when it comes to rentals or buyers but this does occur more frequently when related to sellers of real estate.

So what are the things a property seller can do in these types of situations? You can hire your own photographer to improve those bad real estate photos and potentially someone to writeup the language to describe your home. Review the terms of your contract with the brokerage you signed with to see what your options are to cancel, amend, etc. You could have the broker assign a different agent? Ask to review the due diligence used to arrive at the value of your property. How does it relate to recent comparable sales in your area? What marketing channels are they using and how frequently? Do they understand what makes your place special or different? Good or bad?

In terms of evaluating a properties worth, there are at least three relatively automated pricing systems being used in the industry. Each has its own way to arrive at a range of value for just about any property. That being said, not any one pricing system is an absolute and all should be treated with a grain of salt. The personal experience of the brokerage and agent combined with these analytical systems is always better than trusting the numbers solely.

In our brokerage here in South Florida, these are the minimum items we expect to cover and discuss. There is a lot more that goes on in the background to keep things moving smoothly, but this is a good starting point.

So, if you are thinking of selling or are in the midst of selling, treat this little rant as the basis of a series of questions you want to ask yourself and whoever you are working with or might be working with in the future. Remember, bad real estate photos of your blurry couch or that modern art inspired photo of your refrigerator, might really be a cry for help on a much bigger scale.

Armed with high-tech software and years of crime data, Miami police believe they will soon be able to stop crimes by predicting when and where they will occur..

I can't help but feel that basically officers are being told to hang out in high crime areas more than usual because the map shows what intrinsically Police officers who walk/drive/patrol these beats already know. Predictive Policing should in theory work depending on how you aggregate the data but the descriptions provided are less Minority Report and more googles maps.  Read the article and chime in below. Let us know what you think!

It sounds a little like something out of a science fiction novel, but the department is in the process of adopting a predictive policing system called HunchLab that produces maps showing small areas where specific crimes are likely to be committed during shifts. The probability program is a geographical version of “predictive policing” software, which more departments are using — even if, in the words of one supportive cop, it’s “kind of scary.”

Similar algorithm-based programs have been credited with lowering crime rates in cities around the country, and some South Florida departments recently have adopted their own systems. In Miami’s case, the department is funding the implementation of HunchLab and other software programs with a $600,000 federal grant doled out by the Bureau of Justice Assistance to encourage smart policing tactics.

Miami accepted the grant in November. On Thursday, the city commission will vote on a $120,000 contract with Florida International University to have Rob Guerette, an associate professor of criminal justice, study the department’s program and run tests ahead of its launch.

“It doesn’t replace actual police work,” said Lt. Sean MacDonald, who wrote the grant application. “It’s policing with smarter technology.”

MacDonald said Miami police want to use HunchLab mostly to tackle robberies, auto thefts and home burglaries — crimes in which the department has clearance rates about half the national average. With the program, officers or supervisors will be able to focus their attention on areas where software models tell them that data show there is a high probability that crime will occur.

Police, of course, have always tried to use data to identify crime trends, and for years Miami police have done that with the data-crunching system known as COMPSTAT. Except, now, instead of identifying where crime hot spots have occurred, they’re looking at where crime will occur.

“It goes beyond just looking at crime data,” MacDonald said.

Just how much — and whether — predictive policing software really works remains somewhat of a question. But officers in Los Angeles say a program known as PredPol developed by the department and college professors, and now sold to departments around the country, has helped prevent and stop property crimes, and is now being tested on gun crimes.

In Atlanta, crime dropped by close to 10 percent in two zones where predictive software by the L.A.-based PredPol was put into use by cops during a three-month pilot program, according to Lt. LeAnne Browning, who oversees the department’s video integration center. Supervisors handed out maps to officers at the beginning of their shifts, and when cops had spare time they spent it in the targeted areas. The department monitored where their cops were, how much time they spent in high-risk zones, and every report that came out of the highlighted areas.

“We all thought predictive policing was somewhat hocus pocus and Minority Report,” she said, referring to the Steven Spielberg sci-fi film in which police used psychic powers to stop murders before they happened. “We could see if PredPol was predicting fairly well. It’s kind of scary, because they were.”

It’s just one example of how police are using software to solve or prevent crimes. Miami-Dade’s robbery division, for instance, uses an IBM program called Blue PALMS to solve cold cases. The software has a database of every crime ever documented by Miami-Dade police, and detectives can punch in an old crime report and get a list of 20 suspects within one minute.

“This is not science fiction,” Major Arnold Palmer says in a promotional IBM video.

In Miami, MacDonald said that the software the department is using is a more elaborate version of PredPol, which uses only crime data. Miami police also are punching in everything from paydays to school calendars, weather reports and social media. The department also is using the federal grant to establish an offender database.

Larry Samuels, CEO of PredPol, cautioned about the use of multiple variables, saying the more information you pump into a system, the more the predictions will vary. He said with Miami, as with any policing tool, predictive software will be only as good as the officers using it.

“If you do it in a haphazard way you’ll get haphazard results,” he said. “The credit for success needs to rely in the department.”

Brickell real estate trends have shifted back to new construction rekindling demand for prime Brickell and Downtown Miami Luxury Real Estate.

A lot of attention has been given to the new condo boom within the Brickell and Downtown Miami urban cores. If there was ever any doubt of Brickell's incredible untapped value, let it be removed by the ever resilient Miami real estate market. Our clients have been invested into these markets for many years and it's gratifying to see Brickell and other communities continue to mature.

But what about the resale market? You know, the buildings that were built in the last cycle and those prior to that. How have they fared in this new resurgence? Are they losing value? Are real estate resale inventories skyrocketing or plummeting because of shifting demands for new real estate developments?

We took a small sample of the zip code 33131 (Green Shaded Area on above map image) which is again near the epicenter of the latest Brickell Real Estate boom. In our sample we looked at a years worth of closings (April 2013 - April 2014) to see how the resale market has fared. In this sample we only looked at condominiums and no other property types for re-sale in the area.

Are Brickell Real Estate Trends Positive?

The short answer is yes. The chart below (Click to enlarge), gives a few hints. The first takeaway is that resale condo prices per square foot in the 33131 zip code and Brickell Avenue area have continued a steady rise up until March of this year as noted by the blue moving average line on the chart. The green line at the bottom of the chart shows how each successive months resale inventory in the Brickell Condo market has continued to shrink.

Could new construction hurt the Brickell resale market?

Short answer: Maybe...It could be argued that the there is a potential dip in resale values coming as a result of all these new developments hitting a critical mass. I am inclined to not totally agree with this notion. The cost of new construction, land, amenities and the purchasing models being used by most real estate developers today, places the cost of these projects into a different economic bracket altogether. Also, within this specific zip code there has been no major spike in inventory as we have seen in a few other places just north of Downtown Miami.

In addition, there is some seasonality to take into account and also the fact that short sales and bank owned properties are still a very real part of the resale landscape. Thankfully, Short Sales and REO's are becoming a smaller part of the Brickell real estate market but they can still have an impact on the moving average.

Overall, Brickell Real Estate trends are positive for the condo resale market and have been growing in value at a steady rate. With a continued easing on condo lending and the entrance of more lenders, we expect the market to remain stable.

How long does it take to get from one part of the city to another?

One question that always comes up as a real estate broker is "how long does it take to get from my home to work?". With the amount of experience we have in the business it's usually not hard to give an exact response based on time of day and points being travelled. But, what if you are not yet working with a realtor or just kicking the tires and curious about commute times and distances. Our travel time map for Miami page does just that! Beside Miami, you can use this tool in just about any place that has traffic.

We embedded below two map types for you to try.

The first one is from a group called Mapnificent which shows how far you can with public transportation for a given time. Beside Miami you can also check various other locales around the world as well.

Here is an embedded travel time map for Miami. It's a very straightforward mapping application. You will see where we placed a pin on the map. Simply move it to any area of interest and the mapping tool will recalculate the amount of distance you can travel based on the amount of time you place on the bottom right of the map.

Mapnificent Map

The Second Travel time map for Miami is from a web page called isoscope which is a slightly different iteration of travel time in that it calculates car travel time but also factors in the time of day in hour increments. To use the map simply type in the city you are interested in. Then, click on the map in the place you want to view and a map overlay will depict the various distances you can travel by car depending on the day and hour. There is also a pedestrian overlay that you can place as well which works great if you zoom in. In a city like Miami where pedestrian traffic in urban cores is still nascent, the pedestrian overlay is not terribly useful. But, try Berlin, Tokyo, New York, Paris, Chicago and it's a much more interesting metric.

Isoscope

Unfortunately, this interactive map is no longer available. Alas, all that is the web is not permanent. Dec 19 2018

If there is a tool you like to see how long it takes to get from one place to another that you find accurate and is aesthetically interesting we would love to hear about it.

I admit it... I am a map and data junkie... We live in a super connected world that constantly tracks and analyzes all myriad of things in our lives. Some of this data becomes quite interesting when overlayed on a map.

The above map image by Data Underload over at Flowing Data, is a great example of how people's preferences for certain areas becomes clear when you overlay the habits of many runners over time. As is always the case, where to run in Miami is also great for showing places to get out and bike, walk, LIVE, etc. Downtown Miami, Key Biscayne, Coconut Grove and Coral Gables feature prominently and are all great places to live, work, play and raise a family.

Do beware as Flowing Data points out that you do have ghost data such persons who apparently seem to be able to walk on water. Most likely GPS coordinate snafu of someone paddle boarding, kayaking or some such thing over the water.

There are also maps of a few more cities to check out at their website.

For $32.5 million you can own the Ultimate South Florida Luxury Penthouse

The Porsche Design Tower Penthouse is without a doubt one of the most luxurious, expansive, unique and exclusive pieces of real estate to come on the market. Now is the chance to be the first owner of what is one of the most sought after and envied locations in the South Florida real estate market.

So, what does $32,500,000.00 buy?

For starters, you would own a 4 story home whose first level starts on the 56th floor. A very spacious rooftop terrace, a second terrace on the third level, two summer kitchens (one is never enough) and two balconies which on their own are very generous.

Enjoying the panoramic views from not one but two private pools? Check! Being able to invite Cirque de soleil to perform in your living room because of those amazing 20 foot ceilings? Check, again!

Hate not having enough parking spaces for your cars? Don't like leaving your prized vehicle too far away? Problem solved! How about a 4 car garage IN your residence? Check, check, check. Heck, why even bother getting out of your car when you and your car can ride up the same elevator to your penthouse. Things have changed.

It would be terrible to cram all this incredible luxury into a small space so your 4 story Porsche Design Tower Penthouse has a total of 16,916 square feet (1,571 square meters for the rest of us) to call home.

And of course, you have 4 suite bedrooms, two dens/flex rooms (can be converted to six bedrooms) and six and half baths.

If this is screaming to you, BUY ME! Then please contact us and we will make all the necessary arrangements.

To know a little more about the Porsche Design Tower Penthouse environs click HERE.

An interactive map showing where to bike and run South Florida and beyond.

Brought to you buy Strava Labs. This is an incredibly large data set of places to bike and run South Florida but also just about anywhere in the world you can imagine. The data is very granular so once you drill down to a more specific place you will see even more detail.

What makes these maps interesting from a luxury real estate perspective is that great places to ride are usually great places to live. The Main tracks in South Florida take you to Key Biscayne, Coconut Grove, Ponce Davis, Coral Gables and Pinecrest. As you head further north-west closer to the Everglades, you see lots of Activity in the Weston, SouthWest Ranches, Davie area which have great parks and homes for many local professional athletes, etc.

At the time of this posting, the heat maps provided by Strava where getting hit pretty hard so a bit of patience might be in order but the results are really worth the wait.

If not at the link above in the first paragraph, you can also go to the Strava labs website where they have some other interesting GPS based mapping interactions. Click HERE for that page.

There is also below an embed of the Strava labs page you can try out as well. Just set your heat map options and then minimize the options screen to see the map. ENJOY!

Are they really ruining the Village of Pinecrest Character?

The Miami Herald recently published an article about a Village of Pinecrest council meeting. In this meeting, the idea of studying the possibility of limiting McMansions on smaller lots was proposed. On the face of it, this is a reasonable thing to consider. If you look at the Village of Pinecrest and it's general layout you find that the community is bordered along it's western edge with a large concentration of smaller lot sizes and a general higher density than you would find in areas further east within the community. What this writer found irksome is the notion that the true character of The Village of Pinecrest is that of small ranch houses on large lots and that by considering further setbacks on the sides and frontage of all properties, you would effectively protect that character or extend the small home limit to larger lots.

The Pinecrest McMansion debate is an old one dating back well prior to the incorporation of Pinecrest as a city. Within the Herald article some comments were given regarding homes that are close to if not possibly in excess of 20,000 square feet as part of the reasoning or perhaps impetus to drive the conversation of "character preservation". The article also goes on to mention that the average size home being built today in the community is 8,500 square feet.

This author grew up in Pinecrest. He went to Pinecrest Elementary, Palmetto Junior and Palmetto Senior high and has remained a Miami-Dade County resident regularly bringing persons interested in the lifestyle that the Village of Pinecrest offers. He watched this area grow and transform. Pinecrest lifestyle is NOT characterized by small ranch houses on large lots. It is characterized by luxury estate homes and mansions on large lots that are spacious, private and within easy reach of great education, shopping, dining and transport. It's a place where successful people have come for decades to raise their children and generally enjoy a more open, spacious, friendly and secure lifestyle.  I would not characterize it as Pinecrest McMansions.

Also, the idea that because the village of Pinecrest is doing well enough in terms of it's tax revenue collection as a further reason to halt or stop the development of larger homes is self serving and ignores the very people buying and already living in the community. It's a cart before the horse mentality. It's healthy to debate growth management and the character of a community but in many ways the article implied that the current administration has a dislike of what Pinecrest continues evolving into versus what it was imagined to have once been.

The author can say from personal experience that the 1960's image of Pinecrest as large lots with small ranch houses probably ended the moment the notion came to mind. Actually, it most likely ended somewhere in the early 70's where various groups of individuals started building spec houses  and custom homes for executives on a regular basis. I would go so far as to say that Pinecrest McMansions (estate homes and mansions) have been in full swing conservatively for some 40 years.

If the conversation of building limits goes ahead, I would hope that the Village of Pinecrest consider some of the initiatives implemented many years ago by the Village of Key Biscayne as it relates to setback, building credit for open spaces and other measures to allow homeowners the ability to build great places to live that do not mar or blight a neighborhood by overwhelming it with concrete. Key Biscayne unlike Pinecrest, has the reverse issue. A greater number of smaller lots averaging 7500 square feet (Mackle Homes) with larger lots along canals and the bay front making up a smaller percentage.

To limit what a person can do on their 3/4 acre, acre or multi-acre property on the basis of a community character that does not take into account what currently exists and has always existed is unrealistic at best and would call into question how in-touch the communities leadership is to it's constituents. Again, this author is all for reasonable planning and dialog on the issue of density in those areas within the community where it is merited. Growth management is not only important but a key ingredient to maintaining a communities value both in terms of dollars and cents but also it's intrinsic value as a community.