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South Florida Real Estate
Luxury Homes Sales – EWM is #1
Pinecrest Open House 6-27-2010
Miami Open House Weekend 6-27-2010
Miami Real Estate – Current Market Quick Facts
- There are twice as many sales today than 2 years ago
- There is 1/2 the inventory there was 2 years ago
- The rental to sale ratio is about 50:50. Normal is 25:75
- EWM is selling a $1,000,000 property every 36 hours
- 52% of EWM’s sales are cash
- There are more $1,000,000 condos selling that $1,000,000 single family homes
Miami Dade Real Estate
10 Things I Love About Aventura
- Laurenzo’s Italian Center – Whether you are a gourmet cook and want amazing Italian ingredients or want something already prepared, you will enjoying cruising up and down the isles of this well-known local gourmet supermarket.
- Founders Park – Located on a 12-acres site, this park has something for everyone. Tennis, ball fields, exercise trails, picnic shelters and a splash park for the kids (residents get into splash park free with id, non-residents pay $10).
- Size/Value of condos. If you are renting or selling, you can usually find a larger condo in Aventura than you could in Brickell or Miami Beach, and usually for less. Search for yourself.
- Location: Close to Ft. Lauderdale, Miami,(and their respective airports and ports) and just a jump to the beach
- Boating
- Don Soffer exercise trail- this 3 mile loop is perfect for running, walking the pets, or taking an evening stroll
- The Farimont Turnberry Golf and Country Club – in addition to having a world class spa and golf course, the restaurants are also amazing.
- William’s Island – this enclave of homes, condos, and town homes, all surrounded by water, includes its own private club and is a relaxing jewel of a community, close to everything in Aventura, including a Fresh Market.
- Proximity to Gulfstream Park – What a great way to spend the day. If watching the horse races isn’t your thing, at least stop by and watch the beautiful animals parade around the courtyard prior to each race, then take off and go eat, shop or dance, at one of the many venues.
- Mo’s Bagel and Diner – My Dad is a New Yorker who hasn’t lived there since he was born, but it’s in his blood, and Mo’s makes him feel like he is back there.
If I were a shopper, I would add the Aventura Mall. I personally can’t stand shopping, but this mall is amazing. It is large, clean and has such a variety of stores. If you can’t find what you are looking for here, you probably don’t need it.
Selling Your Home? Look at All of These Real Estate Websites
Your Home On All of These Websites
List with me and your home will show up on the major real estate websites! Maximizing exposure on the web increases the chances of selling your home.
Miami Real Estate: Overall First Quarter Commercial Sales Decrease 54% From 2009 Levels
Over the last 12 months, the price per square foot has decreased across all commercial sectors.
- Office 38%
- Industrial 21%
- Multifamily 15%
- Retail 3%
Are Real Estate Sales Really Up in Miami?
If you read the papers, listens to the news, or talk to friends, neighbors and acquaintences about the real estate market, you could be very confused as to what is “real” about it.
- Foreclosures and short sales are still high.
- Unemployment is still high and actually rose more vs. high and dropping.
- Inventory is still high.
Yet, week after week, our EWM office in Coral Gables is selling more than we are listing. This week alone, we had over $28,000,000 (yes, that is million and it was closer to $29) in sales and leases, the majority in sales. We had 29 sales vs 8 sale listings. What is even more amazing about the sales in our office this week:
- 11 of them (38%) were over $500,000 vs 9 that were under$300,000, which is where most of the market has been this year;
- 7 of them were over $1,000,000 so the high end market is starting to move.
What is especially important in these numbers is that the higher end sales are not relying on the first time home buyers tax credit, since they don’t qualify, and they are buying anyway. This leads me to believe that the real estate market is starting to stabilize, especially in certain areas.
National Flood Insurance Program Expired
Congress recessed and the flood insurance program expired last night. Lost in a debate over unemployment, COBRA payments and other issues, the National Flood Insurance Program was not extended and expired last night.
This could mean delayed closings if you are purchasing a property where the lender requires flood insurance, since the NFIP is the only one who offers it.
A vote in the Senate is scheduled for April 12.
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