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Archive for the 'Selling' Category
Another Amazing Week At EWM’s Coral Gables/South Miami Office
Last week we did over $21,000,000 in sales. This week was over $17,500,000 with 32 sales and only 14 new listings. Inventory in Miami-Dade is decreasing steadily, as illustrated in the graph below. Inventory is even tighter once you start looking in a specific price range and community.
Miami Real Estate Is Moving!!!
Still doubt the Miami real estate market is rebounding? EWM’s Coral Gables/South Miami office did over $21,000,000 in sales this week. We had 12 new listings and 21 sales. Inventory is decreasing and buyers are still out there in droves.
Mortgage Rates Drop to Tie All-Time Low
Money magazine reports that 30 year mortgage rates dropped to 3.94% to tie rates last hit in October. 15 year rates hit new record low. I might have refinanced a bit too early, but changing my last interest rate to a lower one saved me over $300 per month on my mortgage payment even though I went from a 30 year to a 15 year fixed!
If you haven’t done so already, refinance. If you are considering buying, historically low mortgage rates are definitely one reason why you should. Low Miami prices are another.
What Does La Peregrina Have To Do With San Jose Island, Panama?
The famous La Peregrina pearl necklace just sold for $11,842,500 during Christies The Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale . The evening sale was the most valuable jewelry sale in history and there are still four more days of the auction to go. The sale of the necklace also set records; one for an historic pearl and the other for a pearl jewel.
So what does this have to do with San Jose Island, Panama? Well, in addition to the fact that the La Peregrina pearl was found off of the Pearl Islands, where San Jose Island is located, Christies also has this island listed for sale. It is 11,000 acres with a 5000 linear foot landing strip, boutique Hacienda Del Mar Hotel, water treatment facility, roads and over 57 beaches. This island has tremendous development opportunities and existing infrastructure to help expedite development.
What Do Elizabeth Taylor, Christies, The Pearl Islands, and EWM Have in Common?
Okay, this blog is one of those “six degrees of separation” instances.
Elizabeth Taylor was given La Peregrina Pearl, which was found in the Pearl Islands off the coast of Panama. Christies will be auctioning off her collection this week in New York.
EWM is Christies exclusive affiliate in Miami-Dade and Broward Counties. EWM is the listing agent of second largest island in the Pearl Islands, San Jose Island.
Related blogs:
Elizabeth Taylor Collection Auction Taking Place This Month
San Jose Island, Panama: How Big Is 11,000 Acres?
San Jose Island, Pearl Islands, Panama
Over 57 beaches on the island
Miami-Dade County Public Schools Continue To Improve
An article in Wednesday’s Miami Herald stated that Miami-Dade County Public School District students outperform their national peers on their National Assessment in Education Progress (NAEP) exams.
The quality of our public schools and the educational options we provide parents, increase Miami’s ability to attract and maintain businesses by providing an educated workforce. Increased businesses = increased # employees = increase in home sales.
Elizabeth Taylor Collection Auction Taking Place This Month
Christie’s New York will be opening their Rockefeller Center gallery to the public from December 3-12 to exhibit the Elizabeth Taylor Collection prior to the auction, which will take place on 13-16.
Mortgage Interest Deduction: Should It Be Phased Out?
Well disappointingly, but not suprisingly, the Congressional “Super Committee” failed to come up with a plan to reduce the Federal deficit.
The fact that the deficit needs to be reduced and there were no new proposals on the table of how to go about doing so, got me to thinking about some of the original recommendations from the Simpson-Bowles plan. One of their recommendations was to eliminate certain mortgage interest rate deductions, namely on second homes, equity lines of credit, and mortgages over $500,000.
Costco addressed the phasing out the mortgage interest deduction completely in their November edition of The Costco Connection.
If it were phased out completely would that change your plans to buy? Would it speed up your plans to sell? What if only the Simpson-Bowles recommendation were implemented? Would that change your plans to buy or sell?
Market Update: Holidays Not Necessarily Slow Season For Miami Real Estate
EWM’s Coral Gables office had our office meeting a couple of hours ago. Last week our office alone had over $9,000,000 in sales.
We had 13 residential sales and 9 new residential listings. Out of the 13 sales, 4 went over the asking price and 2 sold at list price, and two sold within $4,000 of list price. The market is still moving and if your property is priced right it will sell fairly quickly and close to asking.
If you are a buyer, learn the market where you are purchasing and get information on relevant sales in the neighborhood where you want to purchase. That way you can make an informed offer when you find the property you want. Unless a property is overpriced for the area, chances are you will not get the property if you low ball your offer.
3 Quick Fixes To Add Curb Appeal
An article in today’s Miami Herald discusses the importance of first impressions when you are selling your home.
According to the article, you have 8 seconds to make a first impression, whether good or bad. Three quick and relatively inexpensive fixes for the front of your house include:
1. Mulch existing landscaping
2. Put colorful potted plants on front porch
3. Place attractive porch furniture on the porch
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