We don’t often discuss the ultra high-end residential market on Fried On Business, but we made up for lost time recently when we spoke with Brett Harris of Brett Harris Homes and Douglas Elliman Miami Beach.
Harris represents buyers and sellers of major estates and unique top echelon homes throughout South Florida.
If anyone knows the Super Lux market, it should be him. He grew up on Miami Beach, so he knows the area like the back of his hand. And perhaps more importantly, he knows people. He has a professional network that can make things happen.
Heck, he even made a deal with the Bee Gees.
Now, I think the Super Lux market is generally more insulated from other market conditions, but I wanted Harris’ perspective on the Miami Beach trends.
“I’m seeing a lot of people who want land, views, water frontage. They want new, modern, contemporary, nice finishes, high ceilings, open floor plans, amazing back yards,” he said.
“And they will pay for it.”
Harris said almost 25 spec homes being built now in the Miami Beach area at a price between $16 million and $28 million.
“Two years ago, we had 2. There will be a plethora of spec homes hitting the market in the next six months,” he said. “It will be an interesting time to see what happens with those prices.”
I recently had a lunch meeting with a high net-worth investor who said his $11 million home here was actually free for him because he moved from New York.
Harris said the current real estate cycle has been fueled by money from Brazil, Argentina, Venezuela, and Colombia. Now, Americans from cities like Los Angeles and New York are buying here to flee high taxes in their home states.
Harris made some other observations:
– Prices are coming down. Harris said he has some closings upcoming that will force sellers to change their expectations.
– Miami Beach real estate is a very emotional market, especially for the sellers.
– The driving force behind many home sales is the draft of the owner’s super luxury yacht.
– Normandy Shores is the best-kept secret in Miami Beach.
– The city of Miami Beach is making a huge push toward North Beach.
– South Beach is seeing a renaissance – again.
– Miami Shores and Coconut Grove are on fire and will only get hotter going forward.
Brett Harris is a real expert when it comes to the Miami Beach Super Lux housing market. You can reach him at 305-764-9401 or brett.harris@elliman.com.
Click here to listen to the full interview.
Vivian Fried Kidney Transplant Update
I also took some time to update our listeners on my wife, Vivian, and our quest to find a donor for the kidney transplant that she desperately needs.
Vivian’s story was recently featured on ABC Local 10 News. She used her struggle as an opportunity to warn others about the danger of using diuretics and other medications to control their body weight.
It was a story of love, hope and courage. Click here to watch the full segment: http://bit.ly/Viv10.
My wife is a trooper. She is one of the strongest people I know, but she has been on dialysis for more than 30 months and needs this transplant urgently.
To register and be tested as a kidney donor, contact the Miami Transplant Institute at 305-355-5433. Mention Vivian Fried by name.
Even if you’re not an exact match for Vivian, your willingness to join the pool of willing donors could free up a kidney for her from another source.
You can also donate to her kidney transplant fund by clicking here: http://bit.ly/Donate2Vivian. To become a member of the Vivian Fried Fundraising Team, click here: http://bit.ly/BeAVIVIANFundraiser.
From the bottom of our hearts, we thank you for any help you can provide.
