Category: Selling

Strategies to maximize your sales price and market trends

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Buying Selling

The New Year Will Bring Several Changes That Will Affect The Real Estate Market

The Federal Reserve announced on Wednesday that starting January it will begin scaling back its bond purchase program from $85 billion per month to $75 billion per month.

2012’s Biggert-Waters Flood Insurance Reform Act, if not modified, will continue to affect owners of older homes who have subsidized flood insurance.  A 25% increase in insurance is a large amount to assimilate all at once and makes it more difficult to sell those properties if a mortgage is involved.

New FHA loan limits take place January 1, 2014.  For high cost areas, the new national loan ceiling limit will decrease from $729,750 to $625,500.

 

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Buying Luxury Real Estate Selling

Another Great Week At EWM’s Coral Gables Office – $29 Million In Real Estate Transactions

Total sales (24) still outnumbered total new listings (11), which is to be expected in the middle of the holiday season.  Buyers are still out in full force and are purchasing in all price ranges.  The highest sale in our office was the home pictured below.  It sold for $7,030,000 and was listed by EWM.

9540 Journey's End Rd
9540 Journey’s End Rd

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Buying Luxury Real Estate Selling

Another Great Week At EWM's Coral Gables Office – $29 Million In Real Estate Transactions

Total sales (24) still outnumbered total new listings (11), which is to be expected in the middle of the holiday season.  Buyers are still out in full force and are purchasing in all price ranges.  The highest sale in our office was the home pictured below.  It sold for $7,030,000 and was listed by EWM.

9540 Journey's End Rd
9540 Journey’s End Rd

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Buying Foreclosures Luxury Real Estate Neighborhood News Pinecrest Selling

Florida Foreclosure Starts Down 18.02% Month-To-Month

Realty Trac’s November Foreclosure Market Report shows that foreclosure start in Florida dropped 18.02% from the previous month and a whopping 45.9% drop year-over-year; completions were down 2.72% month-to-month and 15.59% from previous year; and overall foreclosure activity was down 15% and 23% respectively.

These decreases show that the foreclosure crisis is almost over, but the Florida still leads the nation in foreclosures, with one in every 392 homes getting a foreclosure filing and Miami is one of the highest cities with foreclosures in Florida.  There are currently 617 Miami-Dade foreclosed homes listed on the MLS.

Pinecrest Foreclosure Listed by Avatar Real Estate Services
Pinecrest Foreclosure Listed by Avatar Real Estate Services

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Buying Selling

South Florida Real Estate Fall Market Update

Our Coral Gables office had another great week with over $15 million in sales. Out of our 17 sales, four went for asking price and two went over asking. There were 17 new listings. For an overall market update, check out our video.

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Buying Market Summary Selling

Miami Real Estate Update: EWM’s Coral Gables Office Sold Over $50 Million This Week!

Penthouse at the Gables Club – Listed by Allison Blumenthal, Avatar Real Estate

Our office had another incredible week, with a total of $50,208,640 in real estate sales.  The bulk of that was for a vacant 1.74 acre lot at 301 SW 8 Street.  It closed for $20 million.  We also had several residential sales over $3 million.  Overall, the number of sales were twice as many as new listings.  We had 30 residential sales and only 15 new residential listings, further evidence that inventory is still tightening.  Demand is high from buyers, and sellers are less likely to list going into the holiday seasons.

If you are planning on selling in 2014, consider putting your home on the market now, while the inventory is low.  You will beat the rush of sellers that list their homes in the first part of the year.

 

Categories
Buying Market Summary Selling

Miami Real Estate Update: EWM's Coral Gables Office Sold Over $50 Million This Week!

Penthouse at the Gables Club – Listed by Allison Blumenthal, Avatar Real Estate

Our office had another incredible week, with a total of $50,208,640 in real estate sales.  The bulk of that was for a vacant 1.74 acre lot at 301 SW 8 Street.  It closed for $20 million.  We also had several residential sales over $3 million.  Overall, the number of sales were twice as many as new listings.  We had 30 residential sales and only 15 new residential listings, further evidence that inventory is still tightening.  Demand is high from buyers, and sellers are less likely to list going into the holiday seasons.

If you are planning on selling in 2014, consider putting your home on the market now, while the inventory is low.  You will beat the rush of sellers that list their homes in the first part of the year.

 

Categories
Buying Foreclosures Market Summary Pinecrest Selling

Miami Real Estate Market Weekly Update

Another banner week at EWM, with our Coral Gables office sales for the week totaling over $23,000,000 and our Miami Beach office totaling over $12,000,000!

EWM’s Gables office had 24 sales, with 7 going at or above asking, and 23 new listings, 6 of which are foreclosures.

Sales are going strong due to a still- limited inventory and strong demand from buyers trying to get into the market.

Pinecrest Home Sold By EWM agents Valerie Byrne (listing agent) and Monica Betancourt (selling agent)
Pinecrest Home Sold By EWM agents Valerie Byrne (listing agent) and Monica Betancourt (selling agent)

 

 

Categories
Buying Selling

Miami Real Estate: Lack Of Inventory Makes For Aggressive Offers

The lack of inventory in Miami’s real estate market resulted in 5 of EWM’s  Coral Gables’ office sales going under contract for above asking and 2 going at asking this week.  Considering we had 17 sales, that bodes pretty well for well-priced listings that are about ready to come on the market.

Categories
Buying Selling

How Will The New Flood Insurance Reform Changes Affect You

Several changes to the previously government subsidized flood insurance program will affect you.  If you are staying in your home:

  • If your flood zone is in any A or V zone, including AE, AB, AH, your flood insurance premiums will be increasing 25% per year until the premiums come in line with the actual flood insurance rates
  • If your flood zone is in B, C, or X, your premiums will increase 20% per year until the premiums match the actual flood insurance rates

If you are buying a home, the new flood rates will affect how much of a mortgage you qualify for.

If you are selling your home, have your flood elevation certificate on hand to provide it to the new buyers.

http://www.youtube.com/watch?v=yCZHWYYrt9A