Star Island real estate in Miami, FL has seen a flurry of activity in the past year.Â The most recent transaction was the sale of Donald J. Plinerâ€™s estate for $14.33 million.Â This luxury home boasts 10,160 square feet, eight bedrooms, nine bathrooms, and a rooftop terrace.
Real estate in Star Island is considered to be one of the most valuable and exclusive options in the United States.Â These homes are appreciated by affluent buyers as both long-term investments and the ultimate in luxury living.
Star Island is an artificial island located in Biscayne Bay, FL, consisting of only 0.134 square miles.Â There are about 35 homes on this island, belonging to celebrities such as Gloria Estafan, Sean Combs, and Rosie Oâ€™Donnell.Â This limited supply of luxury properties in a recessed economy makes these homes even more appealing to savvy home buyers.Â
In 2012, luxury home prices in Miami, FL are expected to improve due to rising mortgage rates, dwindling inventory, and buyer confidence.Â As the real estate market in South Florida continues to rebound, the value of Star Island homes will steadily increase over time.Â How quickly this increase will progress is uncertain, but it believed by real estate economists that the worst is over.
Purchasing a luxury home requires the talent and expertise of a real estate professional who is experienced in handling such sensitive transactions.Â The combination of extensive real estate knowledge and unparalleled negotiation skills is exemplified by The Khawly Team â€“ South Floridaâ€™s Real Estate Specialists.Â Frances Khawly and her team have earned over 25 real estate certifications pertinent to the current real estate market.Â If you are interested in consulting a Realtor to sell a luxury home in Miami, FL or buy a luxury home in Miami, FL, contact The Khawly Team online or call Frances Khawly directly at 754.422.2098.Â Â