Island Insiders

While Fisher Island condo values are not getting hit as hard as Miami Beach or the Miami condos, there still is reason for concern on this luxury condo island. There are plenty of Fisher Island condos investors that are currently lamenting over up to forty percent losses in property values. While that might seem drastic, especially with high-priced homes Fisher Island condos investors are still left with decent condo equity.

Fisher Island condos aren’t the only luxury market in the country that is feeling the pinch of real estate downturn. Long Island, South Hampton Village and the Yellowstone Club are all experiencing price drops of nearly fifty percent. There are efforts in progress to restore property values for Fisher Island condos that involve cutting back on building, lowering prices and opening up to foreign investors.

Prices for Fisher Island condos are predicted to decline rapidly in the next couple months. With nearly 25 percent of all Fisher Island condos for sale on the real estate market, prices for Fisher Island condos are about to become the lowest they’ve been in twenty years.

Though Fisher Island condos is thought of as some of the most expensive in the U.S. and Fisher Island itself is known for having the wealthiest residents per-capita in America, there are diverse property values on this island. Fisher Island condos costs between $335,000 to $30 million dollars depending on building and location.

Anyone who has an understanding of South Florida real estate knows that condos and homes in the Miami Beach area are some of the nicest properties in the country. Specifically, South Beach condos, Star Island homes and Brickell homes are familiar luxury locations. But some of the unfamiliar places in South Florida like Fisher Island real estate have property that arguably trumps that of South Beach, Star Island and Brickell.

Fisher Island, named after Carl G. Fisher, is an artificial island constructed off the southern coast of Miami Beach in the early 1900’s. Fisher Island was later owned by William Vanderbilt who used it as a vacation home and resort for close friends and family.

This relatively unknown island houses the likes of high-profile figures like Andre Agassi, Boris Becker, Andre Jackson, Ricky Martin, Julia Roberts and Oprah Winfrey. Fisher Island is also known for having the highest per-capita income of any area in the country. So how does an island with high-profile figures and a reputation for luxury stay off the public radar so well? The answer is that residents of Fisher Island make a concerted effort to remain anonymous and live more secluded lifestyles than those of South Beach or Star Island.

Since Fisher Island can only be reached by ferry, private boat or helicopter it maintains a strong sense of exclusivity. This seclusion holds major appeal for the island’s residents that are often high-profile figures or people taking a break from urban life and embracing Fisher Island living.

If you’re purchasing Fisher Island real estate, you’re already entitling yourself to lucrative property with strong resale value since the homes on Fisher Island are among the most valuable in the country. At the same time however, finding a home with good resale value isn’t just a matter of choosing a nice home in a wealthy neighborhood. Let’s explore some crucial factors which may affect your resale value potential.

Believe it or not, Fisher Island homes with irregularly shaped lots are not as attractive as standard rectangular lots even though they happen to break conventions. It’s also good to make sure the yard is at least of moderate size and isn’t occupied too much by those common swimming pools found in many high end homes. Also, keep landscaping to a minimum as too much of it will force the price of the home to inflate.

Fisher Island has a number of fairly large homes but it’s important not to pounce on (and thus purchase) the largest of these homes. It may be wiser to evaluate the homes in the immediate area in order to get a good idea of the average market value. Keep in mind though that by purchasing smaller Fisher Island homes which happen to be near larger homes, these larger properties may actually raise the value of the smaller home you’ve chosen. In this scenario your best bet is to evaluate what you want versus what you actually need.

When it comes to the number of bedrooms and bathrooms, stick with three or four. If you decide to add an additional bedroom, ensure that the price isn’t going to be substantially affected by this. Ideally you want to have a bathroom for the master bedroom, one for guest use, and a third to be shared by the rest of the bedrooms within the home. As for the kitchens, the larger they are and the closer they are to the dining area, the better.

According to a recent poll, when it comes to buying a home in a specific neighborhood the majority of people think about noise before crime and traffic. Noise is more of a concern that most people think. With over 100 million Americans sharing a wall with someone else it's important to find ways to reduce noise pollution. Many ways people combat invasive noise is not that effective. And noise causes strain between neighbors and negatively impacts the friendliness of communities. Even very quiet neighborhoods like Fisher Island off the coast of Miami Beach have had to go through some extreme measures to keep the noise level down.

The average probably puts carpet or other soft surfaces on their walls to block out noise. This actually doesn't block noise at all though it helps a little. Noise is created when an object vibrates and displaces the molecules around it. This action has a domino effect which creates a wave known as a "sound wave". A sound wave moves a lot like waves in the water accept sound waves can move through objects without destroying them. Porous objects are more susceptible to sound wave penetration so using soft surfaces is usually not the best way to prevent sound.

People can use ear plugs or white noise machines but the only way to prevent sound from coming into a home is to noise proof the home during construction. Noise proofing is done by placing thick material in the walls that noise can't penetrate. Condos and Fisher Island homes employ this technique with great success.

Beyond its status as one of the wealthiest communities in the United States, Fisher Island’s appeal is more than the famous denizens like Oprah Winfrey and the mystery surrounding the traditionally inaccessible neighborhood. Visitors equate the island with an all-in-one luxury resort and its residents have obviously invested in the luxury homes of Fisher Island real estate for a reason.

While Miami Beach and its several golf courses like the Normandy Shores Golf Course and the Miami Beach Golf Club lie minutes away from the community, Fisher Island has its own golf course plus a tennis court which has played host to respected athletes like Andre Agassi, Pete Sampras the Williams sisters Venus and Serena.

Since Fisher Island is entirely surrounded by the waters of Biscayne Bay, it also offers sunbathing in a remote atmosphere which is often seen in resorts in the islands of the Caribbean like Jamaica or the Bahamas. Fisher Island includes its own Beach Club which offers hotel services for visitors seeking to stay on the island which essentially makes it a smaller, albeit just as quiet and remote island as the ones found and frequently visited in the Caribbean.

These activities are all offered along with additional conveniences like a post office, food and general supplies market, plus restaurants and a café. And then of course there are the waterfront villas, townhouses, mansions and condo units which comprise Fisher Island real estate. It may not carry the title of resort but a rich history (thanks to the nearby Vanderbilt Mansion) plus a secluded and highly exclusive location certainly make Fisher Island feel like one.