propertiesbyrayg, Author at propertiesbyrayg.com
Miami-Dade Approves “Another Sexy Highway” to Extend the Dolphin Expressway

Miami-Dade Approves “Another Sexy Highway” to Extend the Dolphin Expressway

After obtaining preliminary approvals in June, a controversial plan to extend the Dolphin Expressway, AKA “Another Sexy Highway,” to West Kendall through the Everglades was approved by Miami-Dade commissioners by 9- 4 votes on Thursday.

According to critics, the 13-mile project challenges sound urban planning practices and threatens the natural environment. Earlier this year in a sarcastic marketing campaign launched by the Transit Alliance Miami, the so-called Kendall Parkway Plan earned the nickname “another sexy highway.”

While the final route of the six- lane extension is still being completed, the new tariff will push beyond the county’s own urban development boundary— a line that separates protected natural lands such as the Bird Drive Basin from developments such as subdivisions and malls.

In addition to worsening traffic congestion, encouraging suburban spread and threatening the Everglades, opponents argue that the $ 1 billion plan could be at the expense of the type of mass transit improvements that the county actually needs.

Despite winning over most of the commissioners and appearing to be a fore sure conclusion, the project still needs to secure state, federal, and Department of Environmental Resources Management permits.  Meanwhile, the new “sexy highway” in Miami-Dade county could potentially face some unsexy lawsuits.

Kendall Parkway

 

Read the Original Article Here: Miami-Dade OKs Dolphin Expressway extension through the Everglades

CIM Group Acquires Wynwood Square Property for $17 Million

CIM Group Acquires Wynwood Square Property for $17 Million

CIM Group just bought a 1.78-acre site in Wynwood, Wynwood Square, for $16.6 million where a 12-story mixed-use (apartments, office and retail) project is planned.

Wynwood Square

The Los Angeles- based CIM Group, which has more than $ 29 billion in assets, purchased the property from One Real Estate Investment for $ 214 per square foot at 2201 North Miami Avenue. According to a CIM press release, the site is fully entitled and One Real Estate Investment will be a co- developer on the property.

One real estate investment based in Miami, led by Jeronimo Hirschfeld, sought to build a project called Wynwood Square with 241 apartments, 60,290 square feet of office space, 27,212 square feet of retail space and 481 parking spaces.

According to property records, Hirschfeld’s company purchased the property for more than $15 million in 2015. But the company put the 77,580-square-foot site on the market in 2017. Hirschfeld mentioned in the past that he invested several million dollars more in pre-development costs.

At the moment, CIM is developing Caoba, a 444-unit, 43-story apartment tower in downtown Miami. Caoba is part of the Miami Worldcenter project in which CIM is also an owner and co- developer.

One Real Estate Investment has not recently commented on further ongoing for this project.

Read the Original Article Here: CIM Group pays $17M for Wynwood Square property

The New Hot Home Color in 2019 is…

The New Hot Home Color in 2019 is…

Behr, the paint company, has announced a rich, bluish hue for it’s Color of the Year in 2019.  The new hot home color in 2019, Blueprint, is a mid-tone blue that is defined as warmer and softer compared to denim and navy.

Adopting a full range of blue, teal, and gray will be a new hot trend in home design for 2019 is what Behr foresees.  “Layer light and dark blues on walls, cabinets, furniture, and decor for impactful results,” Behr says.

blue tone bathroom

The color pairs well with the trending tone that has been influencing home design in 2018, which has also been combined with the rise in demand of dark greens and purples in interior design.

The company states that Blueprint is a dark color but at the same time be a classic that can be combined with a variety of color combinations and in a wide range of home styles also.  This color can be used for an accent wall, on kitchen cabinets, in home decorations, bed coverings or comforters, or furniture accessories.

blue dining

Gray will stay a popular neutral in 2019, but color predictors think that as warmer tones in taupe and terra-cotta increase in demand, earthy blues and combinations in brown will also grow.

Behr also anticipates that powder blue, blush peach, and tinted lilac will emerge as the latest neutrals in 2019 along with gray.  These hues produce “relaxed and expansive spaces,” the paint company says.  “Matte finishes emphasize softness, while metal accents add glamour.”

blue kitchen

So let’s see if the new hot home color in 2019, Blueprint, along with the blue, teal and gray color tones will be popular hues that will trend in home interior design.  Will the dark tone be embraced by homeowners?  Also, which part of the country will adopt the new blues into their home for 2019?  Colors are always an effective and inexpensive way to give your home a new a refreshing look.  I guess we’ll wait to see what kind of a splash the new hot home color in 2019 will make.

 

Read the Original Article Here: Find Out the New, Hot Home Color for 2019

Understanding The Real Estate Cycle To Profit On A Deal In Any Market

Understanding The Real Estate Cycle To Profit On A Deal In Any Market

Most of the time in life, it is best to take a step back and look at the bigger picture to put things in perspective and make a smart decision.  But, I have noticed that when it comes to real estate investing, it is wiser to dive in and analyze the specifics of the market to make a solid business decision.  In order to profit on a deal in any market you need to understand the real estate cycle.

If you gather information from one real estate market and apply it to another you are at risk of missing out on deals that can generate a good amount of cash flow or long-term appreciation, because markets differ from location to location.  Different real estate markets can be in different parts of the real estate cycle simultaneously.  It can be sunny in Miami while snowing in New York at the same time.  And to get more specific there can be a market within a market that is responding differently.  For example, it can be sunny in Coral Gables, FL and raining in South Miami, FL.

Closely following your real estate market, and being able to identify the phase it is currently in, is crucial in making a sound investment versus deciding what deals to pass on.

Real Estate Cycle

The Basics

The real estate cycle consists of four phases, and they look like this:

Phase 1 | Recovery

Recovery is, most of the time, the hardest phase to signal out.  Demand can still be slow when the market is recovering from a recession.  Rental activity can be flat and not many developers are building as often, so the market can still seem sluggish.  Although, to the trained eye (those paying attention to the details in the data), increase in property showings, a slower pace of past decline, or an interruption in the downward trend are all signals that the real estate market is heading upward in the growth direction.

During this recovery period, properties that need renovation and repairing can be a great opportunity to purchase, repair and renovate, then sell it for a strong return in the upcoming expansion phase.  This is a great moment to acquire solid assets and hold them until the expansion.

Phase 2 | Expansion

Markets in expansion are heading upward and are facing a growing demand.  The economy outlook is strong and jobs are plentiful.  Rents are rising and vacancy is low.  Developers are building more and at the peak of the expansion phase, supply and demand are in harmony.  During this stage, builders and investors can profit from a higher demand knowing that turnover has reduced and rents are rising.

This is also a great time to execute the strategy of purchasing neglected properties at discounted prices and improving them to make a considerable profit during the expansion phase.

Phase 3 | Hyper Supply

Hyper supply happens when the economy begins to slow down or developments continue while demand slows down.  Both of these are causes for occupancy rates to decrease and rents to decline.  During this phase, wise investors look for good properties with steady tenants and long-term lease agreements already secured.  Although, nobody can say when the next expansion phase will take place, these fixed-income investments provide a high level of performance until the next lease assuring stable times when the recession hits.  At the same time, investors who can maintain their patience can reap the rewards of the opportunities presented by desperate sellers.

Phase 4 | Recession

When the players in a market can’t distinguish the downturn or choose not to acknowledge the warning signs of slowing demand, the hyper supply phase transitions into the recession phase.  You can spot a recession by its oversupply, high vacancy rates and falling rents.  In this very saturated market, investors willing to take a higher risk can purchase foreclosure properties, vacant land and fixer-uppers and developments at discounted prices compared to replacement cost.  This is a long-term strategy for the investor who is patient enough and willing to work to stabilize the asset and hold until the cycle moves back through the recovery phase.  Investors must choose wisely or risk getting burned by the fire.

In Conclusion

One of the most important factors to keep in mind is that different markets can be in different phases at the same time.  So a plan of attack that works in the hyper supply phase in Miami, FL may not be as effective in an expansion phase in Los Angeles, CA.

Also, nobody can predict how long each phase will go one for.  Even if we look into past data, we can’t expect the same highs and lows because the economy is always changing.  On top of that, since cycles can vary from location to location and property type, the key is to be sharp and on the look out while understanding the details of each market so you can wisely implement the best strategy in every different situation.  If you do, then you are bound to build a diversified real estate investment portfolio strong enough that has the ability to weather any storm.

 

Read the Original Article Here: Understanding The Real Estate Market To Score A Deal In Any Market

Umbrella Sky has moved on, but lots of selfie opportunities at this Coral Gables event

Umbrella Sky has moved on, but lots of selfie opportunities at this Coral Gables event

We no longer have the Umbrella Sky Project, but we have another reason to visit Giralda Plaza, an impressive art exhibition site and endless selfies.  Giralda Under The Stars is the latest Coral Gables event.

One of your favorite Coral Gables event is back: 9th Annual Giralda Under The Stars.

Coral Gables event Giralda Under The Stars

The six – month outdoor dining experience begins on the first Friday of November and runs through April. This annual shindig is occurring during our two seasons when it is not as hot as the other two seasons (although we would still recommend bug spray).

The culinary crowd, presented by Diageo, goes down to Giralda Plaza, on Giralda Avenue between Ponce de Leon Blvd. and Galiano Street.

What that means: from 7 p.m. to 10 p.m. you can dine on the outdoor patio and enjoy the City Beautiful from the vantage point of the front row seat.

“Giralda Under the Stars has has always been a popular series for the community and complements our one-of-a-kind offerings,” said Taciana Amador, executive director of the Coral Gables Business Improvement District, which organizes GUTS. “Capturing the true essence of Giralda Plaza, this is the perfect opportunity for families and friends to experience the newly enhanced Downtown Coral Gables outdoor culinary scene.”

Visitors  can expect menu items from such diverse, local restaurants as Miss Saigon Bistro,  Pasion del Cielo, KAE by Chef Landa Talavera and Threefold Café.

Admission to this event, including live music, is free and tickets are not needed, but participating restaurants encourage customers to book.

Umbrellas not required.

Read the Original Article Here: Umbrella Sky is gone, but this event on Giralda Plaza has plenty of selfie opportunities

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