The Miami Beach homes of Palm Island are well known for their luxury and their appeal among celebrities.  Palm Island for example was at one point the home of famous music producer Scott Storch, once owning the amazing waterfront home known as Villa Ferarri. 

Villa Ferarri is indeed one of the most impressive Miami Beach homes, boasting a massive boat dock spanning over 100 feet for starters.  It comes with an amazing eleven bedrooms, fifteen bathrooms and even a trio of guesthouses.  The 20,000 square foot mansion is so large that it’s capable of comfortably accommodating over 1,400 people and has in fact played host to many swanky events and parties.

As mentioned, Scott Storch is no longer the owner of Villa Ferarri.  The property has since been purchased by Russ Weiner, best known as the founder and CEO of popular energy drink Rockstar.  Come take a stroll through Palm Island and see for yourself why it’s one of the many impressive Miami Beach homes in the neighborhood.

Practically everyone looking at the real estate market with the glass half full will tell you that now is the time to buy Miami Beach homes.  Why?  For the same reasons that have been discussed time and time again: low prices, low interest rates, and an $8,000 tax perk.  Should you go out and start browsing through properties?  Not necessarily.

Despite many believing that prices have bottomed out, there’s still no telling how low those prices will go.  Although prices may not be in a freefall anymore, values for Miami Beach homes will continue to drop as long as banks continue to sell foreclosed properties at bargain prices.

You’ve also heard that owning makes more sense than renting Miami Beach homes since the money is essentially going to waste.  It’s certainly a valid argument but at the end of the day renting is still a lot cheaper than owning and you generally won’t have to deal with worrying about maintenance.

This isn’t meant to discourage you from buying Miami Beach homes.  If the aforementioned reasons don’t sound like a problem and you know what to expect, then by all means get out there and see what’s available.  Just remember that even as alluring as it may seem to own a home, the risks and responsibilities may not be worth getting yourself into a long term commitment.

Have home prices for South Florida property such as Miami Beach homes bottomed out?  Some people seem to think so but that may not necessarily be the case, at least not if we go by what the latest market data turns up.

Almost half of the homes sold within South Florida during December of last year were sold at a loss, a four percent increase from the numbers posted during the same time in 2008.  These numbers also mean that there are a larger number of people owning Miami Beach homes who may be facing negative equity.  That is, owing more than what their homes are actually worth.  Despite the upsetting news, there is a silver lining when it comes to these sobering numbers.

January marked the first time that foreclosures dropped in South Florida, by more than six percent in fact.  Because foreclosures tend to be among the primary factors that drive down prices, it does signal a small taste of good things to come in the future for Miami Beach homes.  We’re still “weathering the storm” but small glimmers of that recovery are peeking out here and there.

For many, part of the appeal of owning Miami Beach homes is the convenient boat docks that come with some of the more upscale residences such as those found on the neighborhoods of Star Island for example.  As of late however, the appeal of owning a boat hasn’t really caught on too much as evidenced by the poor sales numbers over the past two years.  This year things are expected to be different.

Boating enthusiasts have been eagerly awaiting the 69th Annual Miami International Boat Show & Strictly Sail Miami that kicks off on Thursday until Monday the 15th at the Miami Beach Convention Center.  A showcase of numerous types of boating vessels, organizers and dealers anticipate that with deep discounts and encouraging sales numbers at other shows, this Miami boat show will turn things around.

Although this year’s Miami International Boat Show will be smaller than those of the past it’s still one of the largest in the world.  With the smaller turnout and dealers looking to shed some of their inventory, it’s worth getting out of your Miami Beach homes and seeing the latest watercrafts you can buy to sail across sparkling Biscayne Bay.

The Super Bowl is just two days away but if you live in Miami Beach homes, you’ve probably noticed that the festivities have been in full swing this whole week.  If you’ve somehow managed to ignore all the increasing fervor, here are two events you can check out to get into the spirit before the big day.

If you’re an avid sports fan, you may or may not have heard of the amusingly named Eats Beats Cleats Gridiron Festival.  You’ll be able to meet and potentially mingle with several acclaimed athletes that include other sports beyond just football like hockey and NASCAR.  All proceeds from the event benefit the Gridiron Greats Assistance Fund.  The event officially kicked off yesterday but it’s still taking place until the day of the Super Bowl.  Since it’s on Lincoln Road, you can actually walk from your Miami Beach homes if you wanted to.

Film director Michael Bay also owns Miami Beach homes and will be opening up his to the public for the second annual “Big Game, Big Give” event on Saturday at 8:00 p.m.  Tickets cost $1,000 per person and all proceeds go to benefiting The Giving Back Fund.  In addition to sports figures, several celebrities will be showing up to help raise money.

If you live in Miami Beach homes you’re probably very well aware of the number of hotspots permeating throughout the city and nearby downtown Miami that each offers an exciting night on the town.  With the Super Bowl this weekend, things are about to get even more exciting.

One of Miami Beach’s most popular hotspots as of late is about to get even hotter.  The Fontainebleau, home of the LIV nightclub will be changing its name to the AXE Lounge this Super Bowl weekend.  Already a well established name up in New York, the AXE Lounge promises to become the one stop destination if you’re looking to mingle with locals and possibly rub elbows with athletes and celebrities.  If you already own Miami Beach homes, you won’t need to travel very far.

To get an idea of how exclusive and fun the AXE Lounge will be, consider that some of the biggest names in entertainment will be performing or appearing.  Entertainment mogul Diddy, popular DJ Vice and entertainer Jennifer Lopez are all scheduled to make appearances at AXE Lounge among many other surprises guests.  What are your plans for Super Bowl weekend?  Are you staying comfortably inside your Miami Beach homes or do you plan to hit the town?