What will the new travel ban mean for Miami's real estate market?

Venezuela being part of the list may affect Miami's real estate.

The new revision of the U.S Travel ban now includes Venezuela, causing a stir among South Florida's housing market.

With a large part of the real estate market dependent on Latin America, any changes made to countries like Argentina, Brazil, and/ or Venezuela is directly felt in Miami according to Coldwell Banker realtor, Danny Hertzberg.

In Doral alone, Eli Santurio, The Keyes Company district manager of sales in Doral, said that his associates were wary of how the new ban would affect them. Venezuelans make up 32% of the Hispanic Population in Doral.

Venezuelans spent $930 million in real estate in 2016, making them an important part in Miami's real estate economy. 

“Their overall impact has waned,” said Mike Pappas, president of The Keyes Company. “Three years ago was the peak of the Venezuelan buying. Recently it’s become more difficult to people to get their money out of the country, so they’ve had less punch in the industry.

Read the rest of the article here!

Keyes Wellington welcomes Realty Elite agents!

Keyes increases Wellington market share with new acquisition.

The brokerage just finished a closing on the purchase of Realty Elite The Palm Beaches over in Wellington. The company founded by David Lopez back in 2007 had closed on $92 million in sales for 2016. 

The Keyes Company President/ CEO Mike Pappas (Left) and Realty Elite founder David Lopez (Right)

This deal will be adding 64 new agents to The Keyes Company, adding to the other expansions that The Keyes Company has also acquired Bluffs Real Estate of Jupiter and two local offices of Colorado-based Shorewood Real Estate. 

Benefits to this will be that Realty Elite agents will be working out of the Keyes Wellington office, removing the cost of operating two different offices. 

Read more here!

Keyes Co. President Mike Pappas gives his insight on the current real estate market.

Cash is no longer king for South Florida homebuyers.

Cash sales peaked in the first quarter of 2011, when more than seven out of 10 deals didn’t involve a loan.

“The market has dramatically shifted,” said Mike Pappas, president of Keyes Co. in Miami. “Cash drove the market in the bottom-feeding and opportunistic times, but today we have a real market with real buyers, and they need mortgages.”

Investors descended on South Florida in 2011 and 2012 as the six-year housing bust was ending. With prices hitting bottom, bargain hunters with fistfuls of cash scooped up foreclosures and short sales for pennies on the dollar.

Read the rest of the article here!

$6M Glory Farms listed by Nancy O'Brien of the Homestead office!

Stables, waterfalls, orchards, and the beach for $6M at Glory Farms. 

A 25-acre compound known as Glory Farms in Redland, FL has been listed for $6M by The Keyes Company's own Nancy O'Brien. The beautiful property includes a swimmable lagoon, 30-foot waterfall, and stables.

One of the few remaining farm lands in Miami-Dade County, Glory Farms is only 5 miles away from the famous Knaus Berry Farm.

Located in one of Miami-Dade's best kept secrets, it is only about 20 miles from Downtown Miami. The Redlands remain one of the few unincorporated areas of the county.

Read the rest here!

Platinum Properties Acquires Bluffs Real Estate and Investment Properties

Palm Beach firm operating since 1985 joins Platinum brand as Keyes continues aggressive growth.

Platinum Properties, A Keyes Family Company, has announced the acquisition of Bluffs Real Estate and Investment Properties under its Platinum Properties brand. The acquisition of the Jupiter-based firm underscores the continued growth Keyes has experienced this year.

Founded in 1985, Bluffs serves Palm Beach and Martin counties, with listings located between the Intracoastal Waterway and the waters of Jupiter and Juno Beach. Bluffs has 25 agents and generated a sales volume of $25 million in 2016. The firm’s office at 4050 South U.S. Highway 1 in Jupiter is remaining open after the Keyes acquisition.

“We are excited to welcome Bluffs into the Keyes family,” said Keyes CEO Mike Pappas. “We know that the Bluffs team is filled with dedicated professionals, and we are eager to begin working alongside their experienced sales associates. This significantly strengthens our Platinum Properties brand.”

With roots in the local community, Bluffs’ agents are experienced in residential single-family homes, townhomes, condos and golf communities, as well as bank-owned and new construction properties.

Gail Lamborn has been the owner of Bluffs Real Estate and Investment Properties since 2002.

The Bluffs acquisition was completed shortly after Keyes acquired the Florida offices of nationally recognized residential firm Shorewood Real Estate. Shorewood has 40 agents based in its Florida offices, which are located in Aventura and Palm Beach.

Independently-owned and operated since its founding in 1926, Keyes is extremely active in luxury residential real estate. In 2016, Keyes listed more than $1 billion in luxury homes priced at $1 million or more.

Keyes is a Founding Member and Shareholder of Leading Real Estate Companies of the World^®, a global network of more than 550 premier real estate firms encompassing 4,000 offices and more than 128,000 Sales Associates in 55 countries.

In July 2016, Keyes and Illustrated Properties announced the completion of a merger between the two companies, which continue to operate under their existing brands. Overall, Keyes and Illustrated generate more than $6 billion in annual revenue from their real estate service lines.

Following the merger, Keyes and Illustrated are, together, the largest independently-owned real estate firm in Florida and a Top 25-ranked firm in the entire United States. In Palm Beach County alone, the companies have in excess of 1,100 Sales Associates and produce double the volume of their closest competitor.

“We plan to continue growing through strategic acquisitions over the rest of 2017 and beyond,” said Pappas. “Profit margins are tightening in the brokerage industry, so we’re seeing more and more consolidation of firms that do not have the size and scale to withstand the new reality. We are fortunate to have the infrastructure, technology and diversity of services to help our brokers thrive.”

Keyes Honored with Prestigious Customer Service Award

The Keyes Company Earns Prestigious National Recognition for Excellent Real Estate Service

The Keyes Company honored among top large companies with Q_E Award from Quality Service Certification! 

The Keyes Company has been honored for its unparalleled customer satisfaction and service quality with a national recognition – the Q_E Award – from Quality Service Certification, Inc. Keyes was one of the winners in the Top 5 Large Companies category, which was based on a minimum of 3,000 closed transactions in 2016.

The 2017 Q_E Award recognizes the Top 5 Large Companies, the Top 10 Midsize Companies and the Top 20 Small Companies, spanning 22 states, from Florida to California and Minnesota to Texas, and includes some of the most respected independent and well-known national and regional brand names. Winners are determined by an independent survey of buyers and sellers of real estate that actually closed with a real estate company participating in the assessment survey administered by QSC and Leading Research Corporation. 

Service satisfaction performance of brokerages is measured during a single calendar year from January 1 through December 31. Keyes earned an average rating of 4.83 (out of five stars) in the survey. 

“There is no greater honor than earning the highest ratings from our customers for the hard work of our agents touching all the bases and bringing home a fantastic service experience for every one of our clients,” said Mike Pappas, Keyes President and CEO. “That's why winning a Q_E Award from Quality Service Certification is the best award any brokerage in real estate can receive.”

Quality Service Certification, Inc. created the Q_E Award to foster, encourage and recognize the highest levels of service quality and customer satisfaction. QSC with its sister company Leading Research Corporation assures the careful measurement and independent validation of service and satisfaction results.  

Eligibility for the 2017 Q_E Award requires a minimum number of surveys sent and returned, which may be adjusted from year to year based upon market conditions and the number of participants. More than 30,000 real estate agents and 750 companies elected to participate in the customer satisfaction assessment survey process in 2016 for the 2017 Q_E Award.

Solar panels may become standard on new homes in South Miami.

South Miami is set to become the first city in Florida to mandate solar panels on new homes.

(Credit: Getty Images)

Similar to San Francisco, South Miami will become the first city in Florida to require new homes to install solar panels. San Francisco, Miami, and two other smaller California cities will be the only jurisdictions in the United States to have these renewable energy regulations. 

A final reading was set on July 18th, but prior to that there were enough votes for it to pass. South Florida mayor, Phillip K. Stoddard, is a long time advocate of renewable energy solutions and believes that passing this will help reduce carbon emissions.

There is still opposition to this, as some believe that forcing homeowners to install the solar panels results in financial issues. South Miami Commissioner, Josh Liebman, believes that this will place financial burden in low-income neighborhoods and affect the development of affordable homes.

Read the full article here.

20 Luxury custom homes set to come into Miami-Dade!

Spec developer to bring 20 luxury custom homes to south Miami-Dade.

A new community being introduced to the Pincrest-Kendall area, Veridian Grove, will bring in 20 luxury homes. These homes will be designed by a joint effort between Sotolongo Salman Henderson Architects and TOGU Architecture.

Prices for these properties will start at $2.6M, this does include 6,000 ft²  with a 15,000 ft² lot, which will also allow buyers the opportunity to customize their homes.

This community will also be with in relatively close distance to one of Florida's largest open air shopping centers, The Falls.

Read the full article here!

South Florida Bucks the National Retail Trend.

With the company expanding effortlessly and paired with the convenience of it, Amazon is starting to become the top choice when it comes to shopping.

The beginning of 2017 saw many business start to scale down their operations, with stores like Sears, JC Penny, and Macy's closing several of their stores. While other companies are completely shutting their doors, South Florida is still appears to be the spot for retail stores.

Areas like Bal Harbour and Wynwood keep up with heavy foot traffic that allows for these stores to remain in operation. Because of the surrounding atmosphere, shoppers that are having a good time are likely to be in a better mood to browse through the stores.

Read the rest here!

CEO Mike Pappas Gives His Take on Renting vs. Buying for Millenials

"The National Association of Realtors reports that people 36 years or younger make up the largest demographic of home buyers." - Mike Pappas.

An article in Money Inc. by our very own, Mike Pappas, President and CEO to The Keyes Company. In it, explaining the pros of owning rather than renting, as both sale prices and rent prices are rising it is still cheaper to own than rent.


Read the full article here!

Keyes' Christina Pappas named winner of the 2017 Up & Comer in Real Estate Brokerage

Keyes' Christina Pappas named winner of the 2017 Up & Comer award in Real Estate Brokerage!!! 

The awards focus on their achievements in the workplace and in their charitable and civic contributions. Many of the honorees have already made their mark in senior-level positions or are on the fast track to do so.

Read more here!

With apartment units rising in numbers, what does this mean for rent prices?

"We're starting to see rental prices wane, or at least pause." - Mike Pappas

Apartments are constantly being built, and with the approaching over building of apartments it may tip the rent prices in favor of renters. 

Market watchers estimate that this year will see the finished construction of 15,200 new apartments across South Florida, including 5,700 units in Miami-Dade County, 5,000 in Broward County and 4,500 in Palm Beach County. 

The pos-recession rise in monthly rents may stop or even decline as the number of apartments in South Florida increases.

See the full article here: The Real Deal: South Florida Real Estate News.

NAHREP Top 250 Includes Prominent Keyes Realtors

Marta Dupree

The National Association of Hispanic Real Estate Professionals (NAHREP) released their annual Latino Agents Award, a report documenting the Top 250 Hispanic professionals in the real estate industry.

Carlos Garcia

For a company to have one Realtor on the list is an achievement, but (once again) Keyes has multiple representatives. This speaks to the dedication and high level of commitment that these individuals bring to both the company and their customers.

Congratulations to Marta DuPree (#4 in the South, #26 National) and Carlos Garcia (#16 in the South, #102 National) on their continued success!!


See the full report here: NAHREP Top 250 Report