A Casey Key estate with old cottage feel but modern conveniences and a prized setting pushes asking price to $6.2 millionAn estate at the northern end of Casey Key that sits on over an acre of bayfront land has a history that would classify it as “old money.” Florida vernacular in design and fully integrated into the lush and old growth barrier island landscape, the compound is comfortable and relaxed, quite the opposite of showy.You can’t see it from the road and privacy is one of the chief attractions of this unusual property, which includes a main two-story house of over 6,000 square feet, a detached 600-square-foot guest cottage, a bunk house, potting shed, three-car garage, 100-foot dock, and a boat house. Additionally, the property has 3,600 square feet of outdoor living space, including an outdoor kitchen under oak trees.
Bouts of brutally cold weather have not kept Alison Benoit, a real estate agent in the Pepper Pike office of Keller Williams, from writing six accepted offers on homes last month. That figure is as much as the 20-year veteran of the residential market says is typical for hot sales months in summer.”For me it’s not been all that different than working with a buyer who is pre-qualified with a lender,” Benoit said of searches she has undertaken from Cleveland Heights to Medina that resulted in two closings.However, the difference is that Benoit is working with people who will lease a home they select for three years from San Francisco-based tech startup Divvy Homes. After that time, if they want to stay, they will get to buy the house with a bonus for appreciation as well as credit for part of the equity they contribute.
Life is grand in Miami. Opulence, elegance and wealth flow from the sprawling oceanfront penthouses through the veins of its sun-kissed owners to the bottles of Champagne being popped on mega yachts in the city’s many beautiful harbors. It’s paradise for the rich and famous, and with new residential towers on the rise, high-end amenities being added and billionaires moving to town, Miami is quickly becoming the year-round stomping ground for America’s elite.
According to Forbes, there are 51 billionaires living in Florida, with most of them residing in South Florida. Carnival’s Micky Arison, U.S. Secretary of Commerce Wilbur Ross Jr. and H. Wayne Huizenga are some of the household names, while hedge fund wizard David Tepper recently moved his Appaloosa Management down from New Jersey to call Miami Beach home. Why do these folks live where you vacation?
“We have more amenities, more restaurants and just more options geared towards the locals—that coaxes the clients to stay longer,” says Dan Hechtkopf, director of luxury sales at Douglas Elliman, who recently helped sell $80 million in property between Park Grove and Arbor in Coconut Grove alone. “Over the past 10 years Miami has really changed from being primarily for vacationers to now being more of an actual place to live full-year round.”
Kelly and Patrick Lynch moved to London from New York City 15 years ago, but because they wanted their two young daughters to experience life in the United States, they decided to buy a vacation home in Palm Beach.
“Summer vacation for our girls was only six weeks, but they had longer vacations during the school year, so a home in Palm Beach allowed us to take advantage of the town’s lovely prime season and give our girls beachy holidays,” Kelly explains.That was in 2013, when they bought their five-bedroom, 6½-bath Island Colonial-style home at 231 Nightingale Trail on the North End.
After an exhausting Van Halen world tour in 1995, musician Sammy Hagar wanted nothing more than to spend a week relaxing in Hawaii. One week turned into two, two turned into a month and soon, the Red Rocker started looking for a home to buy.His wish list was long: 10 acres of land, a pool and spa, a guesthouse, space for a recording studio and access to Hawaiian fruits and vegetables growing on the grounds.One Maui property fit the bill, and he snatched it up on sight. Now, after 22 years of ownership, Hagar is ready to say goodbye, listing the oceanfront villa for $3.299 million.
There has been some very heavy Hurricane Irma cleanup and repair costs for many Southwest Florida condominiums and neighborhoods. Of course none of these unexpected costs were in the association’s budget for this year. So, how are associations going to pay the Irma damage and repair bills coming due?There are basically three ways to pay these bills: Borrow from the bank, raise the regular assessments in the 2018 budget, or levy special assessments. As most associations don’t want to pay bank interest unless necessary, and they also don’t want to raise regular assessments that much year to year, the most chosen method we are seeing associations using is levying special assessments.