The latest Forbes real estate article, America’s New Housing Crisis Capitals, lists metropolitan areas were prices are still dropping with continued declines expected. Thankfully, none were in Miami-Dade, Broward, Palm Beach or Monroe counties!
Author: jenniferwollmann
According to Remodeling magazine’s Cost vs. Value Report, the biggest return on investment was replacing the front door with a mid-range entry door. Not only is it the least expensive out of the 33 projects included in the report, it also returns an average national return of 128 percent.
Other good remodeling projects that don’t cost a lot include:
- Organizing kitchen cabinets, including rollout trays.
- Add or replace tiles.
- Add a breakfast bar.
- If you don’t have granite in the kitchen, install granite tile. It is a lot cheaper than a granite slab.
- Update the bathroom by adding a new medicine cabinet, light fixtures, faucets and vanity. If it has tile, scrape and regrout.
- Recondition kitchen cabinets and put on new hardware.
- Replace light fixtures in foyer, bathrooms, and kitchens.
Although nationally existing home sales fell in December, sales of single family homes in Miami were up 37% over November. With the median price of both single family and condos down significantly and the expiration of the first First Time Homebuyers Tax Credit coming up in April, sales are expected to continue rising in the first quarter.
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Miami Real Estate – 48 SW 48 Ct
Great price for this 3 bedroom 2 bath home on double lot near Coral Gables, Miami International Airport, Downtown Miami. Wood floors add warmth to this 1948 charmer.
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Horse Heaven…In Miami?
Yes! Lately it seems there has been a horse invasion of Miami. The Lipizzaners a couple of weeks ago, Cavalia (through February 7) and this weekend’s Homestead Rodeo all are providing horse lovers with a variety of entertainment options.
Cavalia is a beautifully choreographed show with horses definitely stealing the scene. There are great acrobatics to keep your heart racing and a beautiful scene with several horses running around freely on the stage.
This weekend’s rodeo, with barrel racing and bucking broncos, is sure to be quite different from the choreographed Cavalia.
The Deering Estate will be hosting the ArtSoBay Exhibit from Sunday, January 31 through February 26. This beautiful historic estate and the lush grounds leading to Biscayne Bay make this the perfect stage to hear music from the Greater Miami Youth Symphony and view performances from the Miami Dade College Theater Department.
This event counts towards one of the New Year’s Resolutions for South Floridians!
The 2010 real estate market has started out all over the place, both nationally and locally. On a national level, the lousy weather has had a negative effect on the new home segment, with construction on new homes and apartments falling 4% overall in December (construction rose in the South by over 3%). Applications for new building permits, however, increased by 11%.
Locally, the market has been moving a lot, keeping buyers, sellers, renters, and Realtors, on their toes. There are constant price adjustments on properties already listed, both upward and downward; properties priced well are going under contract (last week the EWM office in Coral Gables that I work out of had $21,000,000 worth of transactions) and renters are snapping up deals as downward pressure on rents, especially in condos, has given tenants more negotiating room.
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Have We All Gone Dog Gone Mad?
Two sights within a 1/2 block of each other in Coconut Grove…just had to post them!
If you are a chocolate lover, head over to the Fourth Annual Fairchild Chocolate Festival this Saturday and Sunday. The weather should be beautiful and the chocolate tasting mouthwatering.
Many economists are predicting a significant hike in home prices over the next 5 years, so if you are a renter who has been debating on whether or not now is the right time to buy, you may want to take a close look at the numbers. In her article, Ten Cities To Go From Renting To Buying, Francesca Levy states that although renting isn’t always cheaper than buying in the ten cities mentioned in the article, home buyers are likely to get a good return on their investment.