Ivan 
Mike
Developer Matthew Rosenblatt sold a waterfront spec mansion in Bay Harbor Islands for a record $22 million, sources told The Real Deal.
Rosenblatt’s Got the Magic House LLC sold the home at 9520 West Broadview Drive to Matthew J. Bullock.
Dina Goldentayer of Douglas Elliman had the listing, and Michael Martirena of Compass brought the buyer.
The sale marks a price record for Bay Harbor Islands residential sales, breaking the $18 million record set two weeks ago by Brazilian race car driver Claudio Dahruj
10 PROS AND CONS OF BEING A SNOWBIRD
The snowbird lifestyle used to be largely reserved for retirees. But in the wake of the pandemic, more people are working remotely full time. This gives people of all ages the opportunity to split their time between two cities or locations. Often, those who primarily reside in the northern part of the country choose to escape to regions with warmer weather during the wintertime months.
Pro No. 1: Building Equity in Two Homes:
When you own a home, there’s the potential to sell it at a profit over time. When you own two homes, you have that opportunity times two.
Ivan Chorney, partner and real estate advisor of the Ivan and Mike Team at Compass in South Florida, has seen some property values skyrocket in his neck of the woods. If you can afford to own a second home, it gives you more financial options down the line.
FLORIDA’S SURGING HOME INSURANCE COSTS RATTLE SENIORS WHO WANT TO KEEP HOUSES: ‘DO I START PACKING?
Homeowners insurance in Florida ranges from $1,700 to $2,700 per year based on $300,000 in dwelling coverage and $100,000 of liability coverage, according to US News.
The insurance is required for those seeking a mortgage, forcing many buyers to reconsider how much they are willing to spend.
“People are using cash and foregoing insurance on single-family homes,” said Michael Martirena, a luxury real estate advisor at Miami-based realtor Compass.
9 ISSUES YOU ABSOLUTELY MUST FIX BEFORE YOU SELL YOUR HOME
The health and safety of all occupants is paramount whether you’re selling or buying, and making sure smoke detectors, carbon monoxide detectors, and radon systems are working is crucial.
“Safety is critical, and we encourage all sellers to check local requirements for guidelines to eliminate some of the guesswork,” says Ivan Chorney, luxury real estate advisor with Compass in Miami. “Always test smoke detectors and install them according to local code. Carbon monoxide detectors are encouraged but may not be required.”
3 REASONS WHY THE FROZEN HOUSING MARKET OF 2024 IS ACTUALLY MORE ACTIVE THAN BEFORE THE PANDEMIC, ZILLOW SAYS
Low inventory levels, high mortgage rates, and rising home prices have left the U.S. housing market frozen for the past year. But a new Zillow report suggests that the housing market today is actually more active than it was before the pandemic—even with inventory levels bottoming out in late 2023.
“People are not entering the market expecting to get everything they want,” Michael Martirena, a real estate agent with Compass Florida, tells Fortune. “This results in bids and offers on less desirable properties and keeps inventory tight at multiple price points.” Plus, nearly 30% of all listings sold above asking price in December 2023, according to Zillow. Only 16% of listings had price cuts, which was the lowest share since April 2022.
SURF CLUB FOUR SEASONS TOPS MIAMI-DADE WEEKLY CONDO SALES
Four Seasons Residences at the Surf Club, unit N-819, at 9111 Collins Avenue in Surfside took the top spot with a $15.9 million closing. The buyers are the owners of Total Wine & More. Records show Robert Trone and Anna Marie Parisi-Trone bought the unit from Mona Eid Alsheetan.
Dora Puig with Luxe Living Realty had the listing. Michael Martirena with Compass Florida represented the buyer. The sale closed after 108 days on the market at $4,703 per square foot.
Ritz Carlton Residences, Miami Beach, at 4701 North Meridian Avenue, unit LPH02, closed for the second highest amount, $8 million. It sold for $1,764 per square foot, after 173 days on the market.
3 REASONS WHY THE FROZEN HOUSING MARKET OF 2024 IS ACTUALLY MORE ACTIVE THAN BEFORE THE PANDEMIC, ZILLOW SAYS
Low inventory levels, high mortgage rates, and rising home prices have left the U.S. housing market frozen for the past year. But a new Zillow report suggests that the housing market today is actually more active than it was before the pandemic—even with inventory levels bottoming out in late 2023.
“People are not entering the market expecting to get everything they want,” Michael Martirena, a real estate agent with Compass Florida, tells Fortune. “This results in bids and offers on less desirable properties and keeps inventory tight at multiple price points.” Plus, nearly 30% of all listings sold above asking price in December 2023, according to Zillow. Only 16% of listings had price cuts, which was the lowest share since April 2022.
