Phil says Spring is right around the corner because he did not see his shadow. In Miami’s real estate market it has been Spring for a while. Traditionally, Spring is the busiest season with sales peaking in April and May. Our local market has been extremely busy since last year. As a result, inventories are low and sellers are usually receiving offers as soon as their properties are listed. If you are thinking of selling your home this Spring. Now is a great time to list!
I went to The Runner’s High in Pinecrest today to buy a new pair of running shoes. While I was listening to the salespeople talk to different customers about shoes specific to their needs, I thought that buying a pair of running shoes is similar to buying a home, though obviously on a much different scale.
1. There is a running shoe for every runner. Whether you over-pronate, have high arches, flat feet, run on trails, “barefoot”, or in marathons, there is a shoe for you. Same thing with a home. Whether you are a city person, country person, prefer single family, townhouse or condo, there is home that fits your needs.
2. Not every shoe is a good fit for every runner. Same with a home. For some homeowners 1500 square feet seems like a lot of space and others can be tight in 10,000 square feet.
3. How you run will determine which shoe is best for you, how you live should determine your neighborhood and type of home.
4. Change is good! Depending on how far and often you run, you should change your shoes every six months. On average, homeowners move every 5-7 years.
A quick snapshot of the overall market for 2012:
Single Family home sales increased 21% in 2012. Those listed between $300,000 to under $1 million increased 50%. Home sales for those over $1 million increased 64%.
Condo sales increased by 6%. Condos between $300,000 to under $1 million increased 45% and those listed over $1 million increased 62%
With that amount of activity, low inventory and cash still flooding our market, many buyers are frustrated. If you are one of them, there are several things you can do to have your offer considered on a new listing.
1) The most important item to have clear is the financial aspect of your purchase. If you are a cash buyer, make sure you have proof of funds ready to accompany an offer. If you are going for financing, have your pre-approval letter from your mortgage company with as few contingencies as possible.
2) Have your real estate agent put you on a system where you are being notified the instant a property that meets your criteria hits the market.
3) Make the time to go see the property the first day. There are a lot of buyers who are making offers the first day because they have been familiarizing themselves with the market and know that if the property is priced right, it will sell.
EWM continues to sell an enormous amount of real estate despite low inventory. Our Coral Gables office alone did over $20 million this week. We had 23 sales and only 14 new listings so if you are ready to list, give me a call. Rentals are in short supply as well.
Walkable neighborhoods are increasingly important to buyers. South Miami Avenue’s tree-lined street is a great example of what makes a neighborhood walkable: nice sidewalks, shade, distance between sidewalk and street and proximity to shops, restaurants, parks and work. This neighborhood is walking distance to Brickell/Downtown Miami.
I had to drive down to Key West to show a property and took my cousin for a tour of the beautiful Florida Keys. We think we might have spotted Santa enjoying his vacation.
Too hot for snow men. It is 78 degrees today in Miami!
Del Sur Market and Restaurant in Pinecrest, which was voted best restaurant in South Miami-Dade of 2012 by the Miami New Times, is a great little restaurant tucked into a small strip mall in Pinecrest . I stumbled across it several months ago, misguided by the word “Market” in their name. I went looking for Argentine cuts of meat for a parillada mixta I was having at my house. Turns out their restaurant has been so successful, they expanded the restaurant portion and shrunk the market portion of their space.
Last week I went with a group of friends and family for dinner. All of us had wonderful, fresh, homemade dishes (all of them were meat, though they do have a nice selection of pastas, chicken and fish) accompanied by two very nice red Argentine wines recommended by the owner, Hernan. We had such a wonderful experience that several of us when back with a couple of first timers the following week. This is one restaurant I am eager to go back to again and again. Not only is their food delicious, eating here will not break the bank!
Del Sur Market and Restaurant in Pinecrest, which was voted best restaurant in South Miami-Dade of 2012 by the Miami New Times, is a great little restaurant tucked into a small strip mall in Pinecrest . I stumbled across it several months ago, misguided by the word “Market” in their name. I went looking for Argentine cuts of meat for a parillada mixta I was having at my house. Turns out their restaurant has been so successful, they expanded the restaurant portion and shrunk the market portion of their space.
Last week I went with a group of friends and family for dinner. All of us had wonderful, fresh, homemade dishes (all of them were meat, though they do have a nice selection of pastas, chicken and fish) accompanied by two very nice red Argentine wines recommended by the owner, Hernan. We had such a wonderful experience that several of us when back with a couple of first timers the following week. This is one restaurant I am eager to go back to again and again. Not only is their food delicious, eating here will not break the bank!
Like most friends and co-workers I know, I have been dealing with many older relatives and neighbors in the last couple of years. Many of them are living independently, still driving, and have increasing health issues. An article in Tuesday’s Miami Herald, Assessing an aging relative, made me think of how difficult it is to tell whether or not an older person is truly okay living on their own or whether or not they may need assistance. The labyrinth of social and medical programs that are out there to help people age in their homes are confusing and hard to navigate. Luckily, Nancy Stein, an adjunct professor at UM, found the same issues facing her in caring for her parents so she brought the information together on a website called Seniority Matters.
The Village of Pinecrest has made a concerted effort to provide programming for seniors at the parks and community center, has a quarterly Pinecrest Pioneers luncheon for residents over 80 years old, and, in recognition of how much history our seniors provide, has been recording their oral histories. All of these local services and resources help our seniors remain involved in the community, live independently, and give all of us caregivers peace of mind and assistance when needed.