Categories
Buying Market Summary Selling

Miami Real Estate – 2010 Snapshot

For single family homes as of December 2010:

  • Median Price $172,000 vs $400,000 peak in May of 2007
  • 8156 single family homes listed on the MLS vs a peak inventory of 17,070 in July of 2008
  • Currently there is a 10 month supply.  A 6-9 month supply is a stable market, so we are getting closer.

For condos as of December 2010:December 2010

  • Median Price $101,000 vs $215,000 peak in January of 2008
  • 15,116 condos listed on MLS vs 24,905 at peak in May of 2008
  • Currently there is a 12 month supply, so we still have a ways to go to stabilize the condo market.

Categories
Florida Life

Merry Christmas!

IMG_0736

Categories
Florida Life Things To Do

Art Basel Miami Starts Thursday

Art Basel Miami Beach starts Thursday, which means there are lots of art events all over town.  Make it a point to attend one, whether directly related to Art Basel or not.  There are plenty of satellite fairs and many of the local parks and galleries in areas with the popular art walks (Coconut Grove, Calle Ocho, Wynwood)

Annette Bonnier photography exhibition at Pinecrest Gardens December 3-31

Coral Gables Gallery Walk is Friday night, December 3.  Cernuda Arte is going to have an exhibit at Art Basel, so should have really nice artwork up.  You can ride the trolly if you don’t want to walk.

Coconut Grove Art Walk is Saturday night, December 4.

Calle Ocho.  Although this art walk is the last Friday of each month on 8th street between 14 and 17 Avenues, the galleries are sure to have something going on during Art Basel.

Haitian Base Tents Project Tuesday, November 30 – December 5th at Epic Residences Green, 270 Biscayne Blvd

Categories
Buying Foreclosures

Miami Real Estate Foreclosures: They Are Still Coming On The Market

Even though several large banks froze their foreclosure process in September, there are still plenty of foreclosures coming on the market in Miami.

There are currently 827 single family homes that are listed as REO on the MLS.  423 of them were listed since October 1.

There are 1116 condos listed as REO.  640 of those have been added since  October 1.

Categories
Buying

Miami Real Estate: Median Prices in Miami Jump 12%

October’s median home sale price increased 12% to $199,100 compared to same time last year.

Categories
Selling

Florida Real Estate: No Cities Ranked Least Affordable in Latest CNN Ranking

CNN came out with their most recent ranking of most (and least) affordable cities to buy a home.  The good news is that no city in Florida made the least affordable list.  The bad news is that no city in Florida made the most affordable either.

Categories
Things To Do

Daylight Savings Time is Over!

As of 2 a.m. this morning, daylight savings time ended.  Remember to set your clocks back one hour.

Categories
Florida Life

November Brings End Of …..

Hurricane Season – Yeah!  So far, Florida has made it through another hurricane season unscathed.  Hurricane season isn’t officially over until the end of the month, so we aren’t quite out of the woods yet, especially with Tomas swirling around out there.  At the end of the month, consider donating this year’s unused hurricane supplies to a local food bank.  With the unemployment rate still extremely high in South Florida, there are more people relying on community food banks for assistance.

Political Season – Believe it or not, I am especially excited about this year’s elections being over tomorrow.  I am a political fanatic, but found that the tone and candidates of these elections were especially awful.  I wasn’t inspired by any of the candidates for anything and was downright stumped by the fact that some of them have come so far.  Really, people.  What are we thinking?  Are we thinking?

Humidity and Hot Weather – Next weekend we are expecting a “cold” front.  Down into the 70’s during the day, 50’s at night.  Time to take out the jackets, boots, and turn on the fireplace.  Seriously.  I turn on the fireplace when it gets lower than 60.  Think I’ll go by s’mores supplies.

Categories
Florida Life

Happy Halloween!!

Spiders Invade Belle Meade for Halloween
Spiders Invade Belle Meade for Halloween

Categories
Buying Foreclosures

Miami Real Estate – Will the Miami Heat Lead to an Increase in Sales?

Okay, so the Miami Heat have won two in a row after their disappointing loss in Boston.  With so much fanfare around the  team, condos in the immediate area have decided to latch on to the Heat as a way to increase sales in buildings that are currently mostly occupied by renters.  Other than the Heat, these buildings have a lot to offer location wise.  Although there is still infrastructure in the immediate area missing (shopping and restaurants) outside of Bayside Marketplace, there is a lot the area has to offer.  It is a quick drive to South Beach, located across from the future Museum Park and a stroll under I-395 to the Arsht Center for Perfoming Arts.  So are you enough of a Heat fan to be compelled to buy in one of these new buildings?