This house is great for entertaining; it is like having your own country club in your back yard! A North/South tennis court, pool, and large covered patio with electric awning and pass-through to kitchen make this deep acre lot the place to be.
A large kitchen with granite counter tops, spacious living and dining room, and 5 bedrooms provide a wonderful space for relaxing after a day of fun in the sun.
Sellers and buyers of real estate often fixate on what the price of a property is and in doing so, lose sight of the more important factor, cost. Price is what you get for the property if you are a seller and what you pay for it if you are a buyer. However, what affects both seller and buyer on a monthly basis is the cost. In addition to principal, interest, taxes and insurance costs, there are maintenance costs and maybe association fees.
If you are a seller, consider how much it is costing you to carry that property each month you don’t sell it. Based on the inventory of similar properties in your area vs the number of sales, you can calculate how much it is going to cost you to continue carrying that property for the average number of months it is taking to sell properties in your area. I suggest you cut your sales price and take the loss upfront vs slowly cash out each month.
If you are a buyer, realize that there has never been a better time to buy than right now. You have a large number of options, the interest rates are the lowest they have been in decades and there is the government tax credit that expires at the end of April 2010. If you are waiting for prices to go down lower, consider the cost of owning if the prices go down but the interest rates go up. If prices come down 10% more, but interest rates inch up only 1% your monthly payments are going to be roughly the same.
The days of the McMansions have been put on hold for now. What is selling in Miami are the smaller homes on smaller lots in neighborhoods that are close to shopping and transportation. Most of the homes fitting this description are under $500,000 and many are under $300,000 and are therefore perfect for first-time homebuyers.
If you have a home that fits this description, now is a good time to sell since inventories in these price ranges are low and buyers are often bidding above asking. Many of these buyers want to be under contract prior to the end of April in order to qualify for the First Time Homebuyers Tax Credit.
This low-rise garden condominium is located on the Coral Gables Waterway. It is ideally situated between Coconut Grove, South Miami, and downtown Coral Gables, making it popular with young professionals, students and retirees alike. The units are spacious and feature ample closet space. Rentals range from $900-$1100 for one bedrooms and $1500-$1800 for two bedrooms. One bedrooms list for sale in the mid to high $100,000 and the two bedrooms are in the $200,000. Low maintenance fees and a stable association are additional benefits. 
This low-rise garden condominium is located on the Coral Gables Waterway. It is ideally situated between Coconut Grove, South Miami, and downtown Coral Gables, making it popular with young professionals, students and retirees alike. The units are spacious and feature ample closet space. Rentals range from $900-$1100 for one bedrooms and $1500-$1800 for two bedrooms. One bedrooms list for sale in the mid to high $100,000 and the two bedrooms are in the $200,000. Low maintenance fees and a stable association are additional benefits.
The latest Forbes real estate article, America’s New Housing Crisis Capitals, lists metropolitan areas were prices are still dropping with continued declines expected. Thankfully, none were in Miami-Dade, Broward, Palm Beach or Monroe counties!
The latest Forbes real estate article, America’s New Housing Crisis Capitals, lists metropolitan areas were prices are still dropping with continued declines expected. Thankfully, none were in Miami-Dade, Broward, Palm Beach or Monroe counties!
Great price for this 3 bedroom 2 bath home on double lot near Coral Gables, Miami International Airport, Downtown Miami. Wood floors add warmth to this 1948 charmer.
The 2010 real estate market has started out all over the place, both nationally and locally. On a national level, the lousy weather has had a negative effect on the new home segment, with construction on new homes and apartments falling 4% overall in December (construction rose in the South by over 3%). Applications for new building permits, however, increased by 11%.
Locally, the market has been moving a lot, keeping buyers, sellers, renters, and Realtors, on their toes. There are constant price adjustments on properties already listed, both upward and downward; properties priced well are going under contract (last week the EWM office in Coral Gables that I work out of had $21,000,000 worth of transactions) and renters are snapping up deals as downward pressure on rents, especially in condos, has given tenants more negotiating room.
According to Altos Research, a firm that tracks the movement of single family homes in 27 real estate markets, the asking price for single family homes has increased over the last three months. This finding is especially interesting since it was reported in a Forbes article titled, Cities With The Fastest-Falling Home Prices. Miami was the only market out of the 27 to post an increase. The findings also show that single family homes in Miami sit on the market the longest, approximately 8 months.