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Brickell/Downtown Miami Coral Gables Miami Beach

The Architecural Diversity of South Florida’s Real Estate

Old Spanish
Old Spanish

One of the many things I enjoy about living in South Florida is it’s cultural diversity, but I never appreciated the architectural diversity until I started driving around taking pictures for this blog.  Thanks to George Merrick, we have the Old Spanish style that graces Coral Gables and is sprinkled throughout South Florida.  Our proximity to the Florida Keys resulted in Key West-style homes, though the ones in Miami-Dade County are significantly larger than the original Key West homes.  In downtown Miami we have amazingly modern skyscrapers such as the Espiritu Santo Plaza/Conrad Hotel building, Four Seasons, and the Jade.  Miami Beach, known for its Art Deco and Mimo architectural styles, also has modern, Miami-chic style homes, some of the most spectacular on  Dilido, Rivo Alto, Palm, Star, or one of the other islands.  What’s your architectural style?  No matter what it is you can probably find it in South Florida.

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Neighborhood News Pinecrest Selling

Food Tasting and Entertainment at 7th Annual Taste of Pinecrest at Pinecrest Gardens

The 7th Annual Taste of Pinecrest returns to Pinecrest Gardens on Sunday, March 8, 2009, beginning at 11 a.m. With more area businesses, more food variety and amazing entertainment from our local students, this year promises to be a delicious outdoor adventure for the whole family. All the proceeds from this event will go directly to Pinecrest’s five public schools: Pinecrest Elementary, Howard Drive Elementary, Palmetto Elementary, Palmetto Middle School, and Miami Palmetto Senior High.

Participating restaurants include: A Joy Wallace Catering Production, Cold Stone Creamery, Crepe Maker, Dream Dinners, Juiceblendz, Kaliapy, Los Ranchos, Roasters and Toasters, Two Chefs and more. In addition to the food, there will be rides and attractions as well as an art exhibit by local school students.

Admission to the event is free. Food tastings will range from $2-$5 and wristbands for unlimited rides can be purchased for $10.

For further information, contact the Pinecrest Business Association .

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Key Biscayne Market Summary

Key Biscayne, Florida Real Estate Update January 2009

Single Family Homes

  • Total single family sales in January 2009: 0

Pending Sales: 3 total, none of which are water front

Active: 140 of which 27 are water front

Price Range for Active:  Non-Water: $5,450,000 – $950,000  Water front: $19,900,000 – $2,925,000

Condos – Closed Sales

  • Total condos sales in January 2009: 7
  • Highest Sales Price: $1,835,000 for a 3,120 square foot unit in Casa del Mar
  • Lowest Sales Price: $460,000 for a 1,600 square foot unit in Key Colony
  • 5 of the sales were in water front buildings

Pending Sales: 16 total, 12 of which are in water front buildings.

Active: 378 of which 261 are in water front buildings

Price Range for Active:  Non-Water: $2,900,000 – $90,000 (to be sold at auction) Water front: $7,800,000 – $245,000

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Market Summary Miami Beach Neighborhood News

Miami Beach, Florida Real Estate Update January 2009

Single Family Homes

  • Total single family sales in January 2009: 4
  • Highest Sales Price: $825,000 for a 2,514 square foot home built in 1936 on a 7,700 square foot lot
  • Lowest Sales Price: $413,126 for a 1,776 square foot duplex on a 8,580 square foot lot.
  • 1 of the sales was a water front property

Pending Sales: 33 total, 9 of which are water front

Active: 467 of which 209 are water front

Price Range for Active:  Non-Water: $9,950,000 – $174,900  Water front: $25,000,000 – $499,900

Condos – Closed Sales

  • Total condos sales in January 2009: 83
  • Highest Sales Price: $7,600,000 for a  4,784 square foot unit in the Murano Portofino
  • Lowest Sales Price: $37,700 for a 701 square foot bank-owned foreclosure
  • 60 of the sales were in water front buildings

Pending Sales: 312 total, 196 of which are in water front buildings.

Active: 3,661 of which 2,584 are in water front buildings

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Market Summary Pinecrest

Pinecrest, Florida Real Estate Update January 2009

Single Family Homes

  • Total single family sales in January 2009: 10
  • Highest price: $1,750,000
  • Lowest price: $261,000 for a bank owned foreclosure

Pending Sales: 23

Active: 294 Highest price: $6,499,000  Lowest price: $299,900 bank owned foreclosure

Condos – Closed Sales

  • Total condos sales in January 2009: 0

Pending Sales: 23

Active: 33  Price range: $1,150,000 – $99,000

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Buying

Why Homeownership is Like Drinking Red Wine

Both are good for your health! According to a recent U.S. News & World Report article there are more than just economic benefits in owning your own home. "People have more extensive social support systems, and that has a potential positive impact on health," according to William Rohe, professor of city and regional planning at the University of North Carolina. Although the individual health benefits of homeownership are unclear and other factors such as education and income level may come into play, there is proof that homeownership is good for children, because it provides stability, and the community because homeowners have a reason to invest in their community through voting, philanthropy, and volunteering.

Like the health benefits of wine, however, the benefits of homeownership can turn into liabilities if you overindulge. Too much wine on a short-term basis can cause a nasty hangover and in the long run can lead to liver damage. Kind of feels like today’s real estate market.

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Buying Coral Gables Neighborhood News

Coral Gables, Florida Real Estate – Annual Market Summary 2008

Single Family Homes

  • 2% increase in sales of single family homes from 2007 to 2008.
  • Total sales of single family homes increased from 318 in 2007 to 325 in 2008.
  • If you average the number of homes sold in the last quarter of 2008, there is still a 23 month supply of single family homes for sale in Coral Gables.

The median price for a single family home in December was $542,000, down from $788,000 in December 2007.

Condos

  • The number of sales of condos decreased 19% from 2007 to 2008 from 141 to 114.
  • There is 37 month inventory of condos.
  • The median price in December 2008 was $250,000 down from $1,005,000 in December 2007.

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Buying Investment Real Estate

8 Reasons Why Now is the Perfect Time to Buy Real Estate

Okay, so things are scary out there. You can’t open a paper, turn on the t.v. or listen to the radio without hearing doom and gloom news. Layoffs, no one is shopping, increasing unemployment, the stock market fluctuates wildly. But, since people are scared and aren’t buying much of anything, it is the perfect time to buy real estate. As Warren Buffet once said, “…attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Reasons now is the time to be greedy:

Continue reading “8 Reasons Why Now is the Perfect Time to Buy Real Estate”

Categories
Buying Investment Real Estate

8 Reasons Why Now is the Perfect Time to Buy Real Estate

Okay, so things are scary out there. You can’t open a paper, turn on the t.v. or listen to the radio without hearing doom and gloom news. Layoffs, no one is shopping, increasing unemployment, the stock market fluctuates wildly. But, since people are scared and aren’t buying much of anything, it is the perfect time to buy real estate. As Warren Buffet once said, “…attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Reasons now is the time to be greedy:

Continue reading “8 Reasons Why Now is the Perfect Time to Buy Real Estate”

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Market Summary Miami Beach

Miami Beach, Florida Annual Real Estate Update for 2008

Single Family Homes

  • Total single family sales in 2008: 116
  • Highest Sales Price: $13,100,000 for a 10,000 square foot home built in 1936 on a 32,000 square foot waterfront lot
  • Lowest Sales Price: $200,000 for a 1,261 square foot duplex on a 2,499 square foot lot.  Bank-owned foreclosure.
  • 54 of the sales were water front properties

Condos

  • Total condos sales in 2008: 1,303
  • Highest Sales Price: $12,360,000 for a  8,900 square foot unit on Fisher Island
  • Lowest Sales Price: $39,000 for a 711 square foot bank-owned foreclosure
  • 914 of the sales were in water front buildings