Congrats on your new website layout.
Really cool.
Needed some expert advice: a friend is considering buying a unit at Blue condo, but is afraid due to the number of empty units there, short sales and rumors that the building is poorly managed and has not been finished by Hyperion.
Seems like some residents want to sue the developer .
Similar complaints seem to be going on at Marina Blue.
The reason he is considering that is because they have good prices, even though the location is kind of shady and the building is not perfect.
Do you have any insider's info on that building?
Thanks as usual.

Thanks for your insights.
I do like the biscayne boulevard buildings..however I am still not pretty sure about the area.
I love Brickell though, despite negative comments from people saying it is a boring area and that I should never trade the beach for Miami.
What I mean by large inventory is all the units coming into the market like Marquis and Paramount, plus the ones at the developers' hand ( for instance, icon brickell tower 2 )
Just something that makes me think prices will be lower next year and that I should wait some more
Thanks again

Regarding the negative things people say about Miami. It's because you are reading Lucas's blog and you see the same characters there. Beleive me there are also people out there with positive things to say about some of those same neighborhoods but they won't speak up because they will be bashed by the negative people. There are many people who live in all these buildings and in these areas who LOVE these buildings and neighborhoods. But to get their stories I think it would just be a matter of visiting a building and talking to a few people walking in and out.

I do think prices will come down still some more. And yes prices could go down to $200/sf or less. But remember that not every building is the same. Some of the buildings which have been hit hard – One Miami, Blue Condominium (are buildings which just opened at a different time and have different pressure working against them).

But keep in mind that the Brickell on the River sale was a different scenario. That was a developer essentially liquidating his inventory. In other buildings you have other scenarios – maybe owners that bought at the clear peak of the market who are far under water on their mortgages and just need to short sell.

I've been following this market a long time and I have met many characters. Sellers, Buyers, Tenant and Landlords all with different extreme viewpoints.

One thing did stick out to me in your question. What increase of inventory are you talking about? All of the product in Brickell/Downtown has already been delivered minus Paramount Bay and Marquis. There is no more building taking place in the area besides a couple of office towers.

Thanks for the feedback.
I would like to have your realtor's advice.
I have been told that the 2/2's in brickell on the river have sold in the lower 200's.
Do you think it is likely this will start happening in other condos in brickell and downtown?
I am still waiting to make a move..I do like those areas ( despite what everybody seems to talk badly about downtown and homeless people/vilence/mugging ), but am waiting until the prices drop more.
with all this inventory, and developers' units, I cannot imagine there will not be a collapse in prices when all this inventory hits the market..consider all the existing units + all the new ones coming into the market..
do you see prices in these condos going to $200/sqf or less?

Thanks again