Link Up With Lily - Feb ‘23

Hello Friends! I hope you all have been well. With the new year, I wanted a fresh approach to my monthly newsletters. While serving you as your local guide to all things Miami, I am including features of hospitality highlight, my latest home decor obsession, real estate market data, new developments in Miami-Dade, and listing highlights. This also serves as and an open invitation to link up with me as I personally look forward to making a connection with you relating to any of these topics. Especially for those of you that have real estate as part of your 2023 goals, I encourage you to reach out to me as I would love to help you achieve your dreams. As 2022 left us with some uncertainty from rising interest rates and the Federal Reserve trying to get inflation under control, many of you may be waiting for the right time. For my buyers that have been on the sidelines and observing the interest rates, I have good news for you. Two words: Buyer's Market. With the increase in inventory and less sales happening, we have a surplus of over 8 months of inventory available in the condo market in Miami Beach (33139). As bidding wars stopped and Sellers are willing to agree on contingencies in favor to Buyer's terms, the market has flipped from a year ago. As each market has it's own ecosystem, let me know which zip code and market segment you're interested in. Let's get the conversation started and let me help you. *As a guide: 3 months or less indicates a strong Seller's Market. 6 months or more indicates a Buyer's market*

📰Real Estate in the News📰

Miami Projected to be one of the hottest US housing markets in 2023

Argentina ranked top Foreign Buyers in Miami Featured Listings

Own one of the largest waterfront lots in surfside 9250 Bay Drive Surfside, FL 8 BD | 8 + 2 BA | 10,016 SF | 20, 359 SF LOT | $11,500,000

Learn More About My Listings See All Listings

Hospitality Highlight

Lifetime Miami Marathon & Half This year I decided to participate in the Lifetime Miami Half Marathon by running 13.1 miles all over the best city in the world. It was a great start to kick off the new year and what better way to see it during sunrise surrounded by WARRIORS. A challenging experience, but so rewarding at the same time. I've already signed up for next year's run, reserve your spot before space runs out! Sign Up for 2024 Miami Marathon

Lily's Latest Home Obsession: Arched Windows When I see an arch above a window or door, I love how much it adds character and architectural design to a room. Some may call it a radius window, but lately I'm loving the curvaceous romantic-like touch. It's also dynamic where you can see it in a modern, contemporary or historical home. Arched above a door or entrance, it compliments the lines around. See my Pinterest page for some additional inspiration.

Arch Window Inspo

New Development Spotlight

Five Park: Miami Beach Recently surpassing the 10th floor in construction, this project is due for delivery 2024. Five Park Miami Beach features 3 Collections: The PARK Residences (Floors 8-24), The Canopy Residences (Floors 27-45) and the Penthouse Collection (Floor 46-48) with expansive 2-5 bedrooms residences from 1,434sf to 6,000sf with breathtaking water views all the way around of the Atlantic Ocean and Biscayne Bay and Park views. The Canopy Residences | Availability The Canopy Residences at Five Park Miami Beach are the largest residence collection in the tower. Canopy Residences have wonderful features & amenities with exclusive access to The Canopy Club, two-assigned parking spaces, and private foyer entry into each Residence and semi-private elevators. Availability is limited. Canopy Residence 01 Line   4 Bedrooms, 4.5 Bathrooms | 3186sf interior Unit# 4101 $9,000,000 Unit# 4301 $9,200,000 Canopy Residence 02 Line  3 Bedrooms, Study, 3.5 Bathrooms | 2,930sf interior Unit# 3802 $7,700,000 Unit# 4302 $8,200,000 Canopy Residence 04 Line 2 Beds, 2.5 Baths | Storage 1,434sf interior Unit# 3704 $3,157,000

I'd Like to Know More

Local Happenings

February 15th - 19th Miami International Boat Show The Miami Beach Convention Center will house over 1,000 exhibitors and thousands of boats. Beyond the boats, the show will also offer live concerts, interactive boating experiences, and the latest in aquatic recreation. More Information FEBRUARY 23rd - 26th South Beach Wine & Food Festival The four-day destination event showcases local talent as well as the world’s most renowned chefs, culinary personalities and wine and spirits producers. There are more than 100 events to choose from. More Information

Have a question on real estate? Reach out to chat!

Lily Choi R.E. Advisor M: 213.284.5954 lily.choi@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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