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.
Unobstructed water views from this spectacular unit, which has been professionally designed by Adriana Hoyos. Enter your private foyer directly from the elevator, open your front door and water views greet you. The spacious unit includes two bedrooms, a den, 3 full baths, large kitchen with built-in Miele coffee maker, wine refrigerator, Subzero, and laundry room with a utility sink. At $1,150,000 it is the lowest priced unit in the popular “9” line of the modern state-of-the-art Jade building.
Several changes to the previously government subsidized flood insurance program will affect you. If you are staying in your home:
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
South Florida has an abundance of seafood, so why not celebrate by attending both the SoBe Seafood Festival on Miami Beach on Saturday October 19 and Coconut Grove Seafood Festival at Peacock Park in Coconut Grove on Sunday, the 20th.
We are already half way through October and almost at the end of the year. 2013 will probably break another record in terms of the number of real estate sales we have had in Miami-Dade County. A quick snapshot of the Pinecrest real estate market shows the following:
Since October 1, there have been 11 new listings, 2 of which are short sales, and 2 homes have gone under contract. So far, there have been no closed sales in October. Going forward, I expect the inventory to increase slightly until Spring, at which point I think we will see more inventory come on the market. I still expect properties priced from $600,000 – $1 million to move fairly quickly.
If you are a buyer, especially in the luxury price range, you will have a lot to choose from and have more negotiating room.
If you are a seller, you will want to price your property so that it sells before the inventory increases in the Spring.
Going through my Google Alerts this morning, I came across so many articles that mentioned Florida and taxes that I decided I needed to blog about it. Although it is not the only consideration to take when making a move, either as a business or an individual, taxes appear to be taking on a great degree of importance in terms of luring both companies and individuals to a state.
According to an article in the Detroit Free Press, The most tax friendly states for business, Florida ranks 5th. The states who ranked higher were Wyoming (No. 1), South Dakota (No. 2), Nevada (No. 3), and Alaska (No. 4). Based on that analysis, it is ironic that business interest groups are trying to reduce a 6% tax on commercial leases. Supposedly Florida is the only state to charge a tax on leases.
Fox Business News’, Do you live in a bad tax climate state, listed New York and New Jersey as the worst states for businesses when it comes to taxes.
Even luxury yacht owners fare better in Florida than other states, based on KUOW’s, Luxury Yachts Set Out To Sea To Dodge State Taxes.
Since we don’t have a state income tax, and are obviously pretty low on other tax criteria, we need to be careful not to overdue the race to be the lowest tax state across the board. It is taxes that pay for education and infrastructure, which are extremely important in keeping our state a place where both individuals and businesses want to move.
Okay, it is always running season in South Florida, but many of us prefer running in less muggy conditions so October is when a lot of the more popular runs kick off. No matter what cause you support, you are bound to find a run. Here are some of them.
If you want to train for any runs, including 1/2 marathons and marathons, consider TeamFootWorks and Miami Runner’s Club. To learn some great yoga stretches to keep you running injury free, check out the Yoga for Runners Workshops at Bala Vinyasa Yoga. Need more races? Here are upcoming races in and around Miami.
Well, it finally happened. My neighbor has sold his home on a beautiful, tree-lined, deep lot in north Pinecrest. It is not quite an acre, but I am guessing a huge home will be going up on the site. I hope I am wrong and that our soon-to-be-new-neighbor will appreciate all of the wildlife their back yard is home to and remodel instead of tear down and build the maximum allowed home. Over the years that we have lived in our house, we have enjoyed seeing fox and watching large predatory birds nest and raise their young in our neighbor’s yard.
We are lucky to live in the Village of Pinecrest, which like many cities in Miami-Dade County, has landscaping regulations that include tree preservation, but I have witnessed lushly grown lots be completely bulldozed to accommodate homes that cover the majority of the lot. Once built, small oaks and palm trees are planted in the front and back yards with shrubs planted around the sides.
The house below is a great example of how existing trees can be incorporated into new construction. The house on this lot was torn down but many of the trees were kept. They provide shade and character for the house as well as a canopy to shade the street.
These numbers include all of the listings posted in the MLS through August. A search of the MLS for September shows 24 new listings in Pinecrest ranging from $599,000 up to $3.9 million, no closed sales, and 8 pending sales.