Tag: buying real estate

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Buying

Miami’s Affordable New Construction Condos

Although it may seem like Miami is only building condos for the wealthy, not all of Miami’s new construction is aimed at millionaires.  Here are a few of the latest projects announced.

 

INTOWN conceptual floorplanINTOWN, located in the Little Havana neighborhood,  is in the reservation stage with prices starting at $200,000.  This 14-story, 320-unit condominium will feature 1, 2 & 3-bedroom condos and townhomes with six different floor plans to chose from.  These units will be move-in ready with an option of fully furnished units from Interiors by Steven G.

 

Artist's Conceptual Rendering of Living Area
Artist’s Conceptual Rendering of Living Area.

Head a little further North and East to the Arts & Entertainment District, to visit the location of CANVAS, a proposed 27 story  with 513-units comprised of studios, 1 and 2 bedrooms.  Prices start at $230,000.

aria on the bayAlso located in the Arts & Entertainment District and directly across from Margaret Pace Park,  is Aria on the Bay, with 647 units on 50 floors. Prices start in low $300,000’s and there are 1, 2, 3 and 4 bedroom units.

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Buying Pinecrest Selling

12085 SW 65 Ave Is An Updated Entertainer’s Dream In Pinecrest

DSC_1174_5_6EnhancerThis tastefully updated 4 bedroom/4 bath home is an entertainer’s dream.  It has an extra office/den, a huge family room with a wetbar, a basketball court, an oversized swimming pool surrounded by a covered patio with remote-controlled screens, and sliding doors that open from all of the living areas directly onto the patio.  The extra large kitchen features two seating areas, a large breakfast/snack bar and an island, double ovens, a warmer, and granite counter tops.  This home is move-in ready.

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Buying Coral Gables Luxury Real Estate Neighborhood News

Want To Buy A Home In North Coral Gables? These New Listings Are Sure To Please

1220 Capri- Living Room
Modern Kitchen - 1230 Capri
Modern Kitchen – 1230 Capri

Today during our open house tour, I was pleasantly surprised with a series of new single family homes for sale in North Coral Gables. With the exception of 1220 Capri, which is beautifully updated, these are all Old Spanish homes that have been modernized without losing the character that buyers of Old Spanish homes look for.

1220 Capri- Living Room
1220 Capri- Living Room

 

Modern Master Bath-1503 Genoa
Modern Master Bath-1503 Genoa

All listings are courtesy of EWM International Realty.

Categories
Buying Selling

Is Miami's Real Estate Market Starting To Shift?

168 Paloma - Listed by EWM's DiCarlo Group
168 Paloma – Listed by EWM’s DiCarlo Group

Based on EWM’s activity this week, it appears we may be starting to get into a more neutral market. EWM’s Coral Gables’/South Miami office did over $22.5 million worth of transactions this week, with an almost even split between sales (26), and leases (24). Seven of the sales were over $1,000,000.

Eight out of the 15 sales listed under $500,000 went for at (4) or above (4) asking price. Although that is pretty indicative of the seller’s market we have been in, we also added 27 new listings and had 17 price reductions. With the increase in inventory, if your home has been on the market for over 30 days it is time to decrease your list price. We are expecting inventory to increase every month as we move closer to the Spring listing season.

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Buying Foreclosures Selling

More Changes To Affect The Florida Real Estate Market In 2014

On December 20 I wrote a post about some changes to federal laws that may affect Miami’s real estate market in 2014.  I neglected to include two more (well one is a Florida State Law, but I will include it here anyway).  The first one I thought would be extended by now, but since we are coming up on New Year’s eve I thought I should mention it in case Congress lets it lapse.  It may not be that big of an issue since, due to the rising real estate prices, many real estate owners are no longer under water but the tax deduction on forgiven mortgage debt will end on January 1, 2014.  Although there are many benefits to short sell, even without the tax benefit, instead of foreclose the sun-setting of this deduction could decrease the number of short sales sellers participate in.  Should seller’s stop participating in short sales, this will put pressure on already short inventory since the foreclosure process usually takes longer.  Which leads me to the second change.

HB 87, the Fair Foreclosure Act, went into effect on June 7, 2013, but we will really start to see its affects in 2014.  Known as the “Speedy Foreclosure Law”, this law will help speed up the foreclosure process.  Prior to passage of this bill, foreclosing on a mortgage took approximately 853 days, which was more than twice the average.  This should help ease some of the shortages in inventory by getting at least a portion of the 350,000 plus foreclosure cases currently tied up in Florida courts through the process much faster.

 

Categories
Buying Foreclosures Luxury Real Estate Neighborhood News Pinecrest Selling

Florida Foreclosure Starts Down 18.02% Month-To-Month

Realty Trac’s November Foreclosure Market Report shows that foreclosure start in Florida dropped 18.02% from the previous month and a whopping 45.9% drop year-over-year; completions were down 2.72% month-to-month and 15.59% from previous year; and overall foreclosure activity was down 15% and 23% respectively.

These decreases show that the foreclosure crisis is almost over, but the Florida still leads the nation in foreclosures, with one in every 392 homes getting a foreclosure filing and Miami is one of the highest cities with foreclosures in Florida.  There are currently 617 Miami-Dade foreclosed homes listed on the MLS.

Pinecrest Foreclosure Listed by Avatar Real Estate Services
Pinecrest Foreclosure Listed by Avatar Real Estate Services

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Buying Mortgage information

Health Of The US Housing Market

Although all real estate is local, this Bloomberg Report with Jeff Taylor, Managing Partner of Digital Risk, sums up the overall U.S. new housing numbers, current mortgage rates and lending practices, and provides a glimpse of mortgage lending criteria in the near future.

Categories
Buying Selling

South Florida Real Estate Fall Market Update

Our Coral Gables office had another great week with over $15 million in sales. Out of our 17 sales, four went for asking price and two went over asking. There were 17 new listings. For an overall market update, check out our video.

Categories
Buying Selling

Miami Real Estate: Lack Of Inventory Makes For Aggressive Offers

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.

Categories
Buying Selling

How Will The New Flood Insurance Reform Changes Affect You

Several changes to the previously government subsidized flood insurance program will affect you.  If you are staying in your home:

  • If your flood zone is in any A or V zone, including AE, AB, AH, your flood insurance premiums will be increasing 25% per year until the premiums come in line with the actual flood insurance rates
  • If your flood zone is in B, C, or X, your premiums will increase 20% per year until the premiums match the actual flood insurance rates

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