Today I toured homes for sale in a variety of price ranges in Pinecrest and Palmetto Bay. This 4 bedroom 3.5 bath pool home at 6822 SW 144 Terrace gets my “Best Open” vote for today.
It is on a quiet street in Palmetto Bay and the clean lines and tastefully, understated decorating throughout the house made it a pleasure to view. The kitchen and family room, separated by the wet bar below, were my favorite aspects of the house.
It is listed by Ashley Cusack with EWM’s Coral Gables office.
This beautiful bar is one of the many fine details in this 11,533 square foot home by Portoundo Perotti. The home is currently listed for $5.3 million by Lourdes Alatriste with Engel & Voelkers.
Interest rates have dropped again. They are currently around 3.75% making properties even more affordable! Now your challenge will be finding a property. Inventory in Miami has dropped significantly and the competition with cash buyers is fierce. In the last two weeks I have seen several properties go on the market and have multiple offers within a couple of days and several have gone under contract above the list price. Most of them have been cash offers.
So, if you are financing your purchase how do you compete?
These suggestions are guidelines, since the averages used were for Miami-Dade County as a whole. Average days on market, months of inventory, and sales to list price averages may be higher or lower in the neighborhoods you are looking in.
Okay, I know the Heat are hot in their NBA playoffs and tonight’s game against the Celtics is the talk of our town, but it is June 1st and the start of hurricane season. Actually, the season got off to an early start with two named storms already in May. Please take the time before a hurricane is on the radar and follow the tips in the Miami-Dade County Hurricane Preparedness Guide
Yesterday I attended a Tier 1 workshop put on by MDX to explain the US 1 express lane project development and environment study. Considering how large this proposed project is and how many residents and businesses it will have an effect on if it goes through, there were not a lot of people in attendance.
Based on the current study, the express lanes will have potential overpasses at each intersection on the busway where there is currently a traffic light. The maximum height of these overpasses will be 24-25 feet high, which is the height of the Metrorail track.
The impact on the abutting neighborhoods of having this expressway will be significant. While trying to ease congestion on US 1 and decrease travel times from the southern end of the county to the Metrorail stations are laudable goals, as currently conceived, I think the project is going to create havoc on the neighboring communities and create more traffic, not less, along the corridor. Having an extra 2-3 lanes of “express” cars exiting at the end point will create a logjam. Add to that the plans to link the expressway to the Turnpike and the Palmetto and you get the picture.
This project will have a significant impact on the surrounding neighborhoods as well, with the potential to affect property values, mostly downward in my opinion.
If the whole goal is to get people out of their cars and onto Metrorail, wouldn’t it be a smarter use of taxpayer dollars to build Metrorail down to the southern part of the county as originally proposed. If they add express buses to the bus lanes, that could also help.
If you live in any of the neighborhoods that abut the busway, please contact Tere Garcia, Public Information Officer at MDX. Her number is 786-277-9292.
Edina Realty, a Minneapolis-St Paul real estate subsidiary of HomeServices of America, Inc., has decided to stop syndicating its listings to non-brokerage sites, such as Realtor.com, Trulia, and Zillow. Edina’s arguments are outlined in Inman News and bring up some interesting concerns regarding “advertising” on third party sites.
I work with several buyers and tenants who use third party sites to search for properties or obtain market information and I often do have to explain to them that the information they have gleaned from the site is incorrect, out-of- date, or not exactly reflective of what is happening in the local market.
For my sellers and landlords, I do put my listings on third party sites because I feel like the more eyes that see the listing the better the chances of selling that listing are.
What are your experiences with third party sites? If you are a seller, would you list with a brokerage that does not participate with third party sites?
Further evidence of the improving Miami real estate market can be seen in EWM’s Coral Gables office sales for last week. The total of sales and leases was $20,484,380. Residential sales represented 90.5% of those transactions. The total for all of EWM’s Miami Dade County offices was over $36,000,000.
Today’s Miami Herald article, “South Florida’s real estate market looks hot again” summarizes the market gains.
With boating season coming up, though it would be fun to post some spots that are close to marinas and different from going to the sand bars and Elliot Key. Flagler Monument Island is right off of the Venetian Islands in Miami Beach. There are a few picnic tables, and the sculpture designed by H.P. Peterson, with four individual statues, is unique and offers an interesting piece of history.
With boating season coming up, though it would be fun to post some spots that are close to marinas and different from going to the sand bars and Elliot Key. Flagler Monument Island is right off of the Venetian Islands in Miami Beach. There are a few picnic tables, and the sculpture designed by H.P. Peterson, with four individual statues, is unique and offers an interesting piece of history.