December 20, 2022 - Rava Realty

Sellers of South Florida waterfront land are testing the market

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Looking to capitalize on South Florida’s booming waterfront mansion market, sellers of vacant waterfront lots in Miami and Miami Beach are listing their properties for prices that appear to bend reality. 

Sellers have been told that so many wealthy people are moving from California, Chicago and New York, big CEOs looking for properties like the billionaire Ken Griffin, who paid $106.9 million for a 4-acre Coconut Grove waterfront estate this summer.

But thanks to rising construction ...

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Surf Club Four Seasons tops Miami-Dade’s weekly condo sales

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Miami-Dade County’s condo sales volume fell last week, while the average sale price rose.

Condo sales totaled $97.7 million, lower than the $119.8 million in sales from the previous week. The average sale price continued to climb, as it has for several weeks, reaching $913,000. That compares with $754,000 the week prior.

Prices for the top 10 sales ranged from $1.5 million to $21 million, compared with $1.8 million to $9.4 million the previous week.

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Holiday Tipping Guide

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Tipping the staff during the holidays is a customnot a requirement, but you’ll be in the minority if you don’t do it.

The precise amount depends on the size of your building (the larger the staff, the smaller the individual tips), quality of servicestaff senioritylength of time you’ve lived there, whether you own or rent (more on that below), personal chemistry, your financial circumstances, and whether you’re frugal, generous, or somewhere in between.

Here’s a general average framework, for you to use as you see fit:

  • Super, ...

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NYC war against illegal short term rentals

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NYC is flooded with illegal short-term rentals that do not comply with New York City law or building board guidelines. But a new effort to block illegal short-term rentals is launching January 9th. That’s when a new law, Local Law 18, goes into effect requiring owners and renters to register their short-term rentals with the Mayor’s Office of Special Enforcement. Hosts will get a registration number to display in listings. Sites such as Airbnb, VRBO, Booking.com, and others ...

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Manhattan Real Estate Market Pulse | December 2022

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Is the residential sales market stabilizing?

Mortgage rates have been fairly flat in the last couple weeks and we might be seeing some stabilization taking place with some believing in a “soft landing” for the economy.

The monthly contract activity stood at 701 in November, down 46.7% compared to last year and down 18% from the 856 historical average for the month of November. The supply, which is the number of units available on the market, stands at ...

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