For all those who hold Zillow’s “zestimate” on a pedestal, repudiating it to be the benchmark of home values … this may be rather eye-opening:
Zillow’s CEO, Spencer Rascoff sold his own Seattle home for 40% below what Zillow’s “Zestimate” showed it to be worth just a day before closing.
As realtors, we have conversations all the time with buyers & sellers who want to grasp tightly to whatever Zillow says. And, it’s not simply that Zillow values are high … because often they aren’t. Sometimes Zillow comes in way below market value on any given property. Zillow admits to inaccuracies …. But the point is, Zillow is often inaccurate … off by a little … off by a lot … or just simply wrong. And the reason is fairly simple …. There is quite a lot that goes into valuing a property. And luxury property is where Zillow most often gets it wrong, due in part to the fact that there are so many intangible factors.
Spencer Rascoff, selling his own home for 40% below what his company’s zestimate said the value was, speaks volumes. His own company valued his house at $1,750,000. He sold it for $1,050,000. That is a huge discrepancy.
Yes … appraisers can get it wrong … so can Realtors … BUT we have tools that help us be as accurate as humanly possible … and we have tons of information at our fingertips that influences & impacts home valuations … information that is not based simply on auto-populated algorithms!
Buying … Selling … Please call us … We would love to work with you! The Restivo Hechtman Team at EWM Realtors International
Vicki Restivo 305 793-1365 Alexandra Hechtman 305 632-0164
Newly-listed 2 bedroom 2 bath penthouse with balcony … asking $315,000 … in the heart of Coral Gables… “Douglas Grand” … 50 Menores Avenue #815 … Located just north of Alhambra Circle. Recently updated …. Solid wood floors … granite counters. This is a corner unit, top floor, with balcony and wide-open city views. Snack bar. Entry foyer breakfast nook. Washer and dryer inside the unit…. One of the two bedrooms comes with a built-in pull-down murphy bed. Ideal location for UM faculty or students, near to the Coral Gables campus and just up the street from Miracle Mile. It’s in the heart of Coral Gables with shopping, dining and nightlife at your feet. 2 deeded parking spaces included. For a private showing, please contact the Restivo Hechtman Team at EWM Realty International 305 793-1365
Spectacularly Updated Deering Bay Condo with Views of the Marina … Under Contract Although Not Listed for Sale
With gorgeous views of the Grand Marina in Deering Bay, this spacious 3 bedroom condo in “Venice” was perfect for our buyer… although it wasn’t listed for sale.
The current owner meticulously remodeled it (removing walls to create a stunning ‘open concept’ contemporary home) … and everything about it was ‘right’, except that it wasn’t for sale.
BUT … sometimes that doesn’t matter.
Warmest congratulations to our buyer, who is officially under contract, and closing in mid May… and congratulations (too) to the seller, who is thrilled as well.
If you are looking for something specific that isn’t on the market, please let us know. We may well be able to find you just what you’re looking for! The Restivo Hechtman Team at EWM Realty International : Vicki Restivo 305 793-1365 … Alexandra Hechtman 305 632-0164 [email protected] … MiamiRealEstateCafe.com … your real estate blog and website.
Deering Bay Yacht & Country Club has a number of options for golf, tennis & yachting – as well as for social membership. Deering is one of Coral Gable’s finest gated communities, offering a refined lifestyle for those wanting a condo, townhome, or single family estate home in Coral Gables…. within a variety of price categories. Right now there are 25 condos, townhomes & single family homes listed for sale, each with different views, layouts and styles. Those actively listed have asking prices from just under $1 million upward close to $3 million … A great place to live … A great time to buy!
Venice is a charming complex …. overlooking Deering Bay’s Grand Marina …. It’s wide wrap-around terraces, high ceilings, sliding glass doors, floor to ceiling windows & tranquil views of palms, water & yachts (and the magnificence with which it was renovated!) made it perfect. Buyer and seller both benefited … Our warmest congratulations to both parties!
The Restivo Hechtman Team SOLD 2 units in Deering this month …. So, whether you are thinking of buying or selling, we would love to make that happen for you! Call anytime …. 305 793-1365 or 305 632-0164
With promise of the exotic …. This very unique Pinecrest home will make you feel as though you’re living in Coconut Grove …. nestled beneath lush tropical foliage. Looking for infinite tranquility? This acre property is your own private Fairchild Botanical Garden. Offered at $1,950,000 … 4 bedrooms …. updated … renovated …. For a private appointment to see this featured listing, contact the Restivo Hechtman team at 305 793-1365 or 305-632-0164 [email protected]
If you are considering living in the Baptist Hospital area of Miami, this weekend might be a good one to house hunt. With 24 listings priced from $500,000 to $1 million, many of us who have listings in the Baptist area will be hosting a PROGRESSIVE OPEN HOUSE … Many will open for 2-3 hours … between 2-5pm on Sunday May 1, 2016. Please join us!
Our featured listing at 8625 SW 110th Street – newly priced at $665,000 – is an impeccably maintained 4 bedroom 2 bath home – 3,116 square feet – with a spacious back yard and plenty of room for a pool – located near Vineland Elementary. Contact the Restivo Hechtman Team at EWM Realty International 305 793-1365 or 305 632-0164 for additional information. [email protected] OPEN 3-5pm Sunday May 1,2016
Map of participating homes …
FEATURED LISTING: Gated acre home – with high ceilings – North Pinecrest …. 5 bedrooms each with own ensuite bath … triple split plan … single story… listed for $1,950,000. Pinecrest School District … For private showings or additional information, please give us a call at 305 793-1365 (Vicki) or 305 632-0164 (Alexandra) The Restivo Hechtman Team at EWM Realty International.
The tiny house movement ….which is defined as real estate consisting of 600 square feet or less of living space… is trending. HGTV is currently airing shows dedicated to the Tiny House Movement. “Tiny House Hunters”.
I got a kick out of seeing THIS, just up the street from my house in North Pinecrest earlier today. I wonder what one would spend to buy it … and what it would be like to live inside those four walls.
With all the massive ground breaking developments popping up all over Miami, and record numbers of mega mansions under construction in Pinecrest…. there are people intrigued with the idea of “doing with less”. But how many of us could really do with this much less, I don’t know.
As I followed this tiny house down the road, my first thought was … “I could live there.” In theory, the idea intrigues me … that minimalistic concept of owning a cottage or cabin. It will be interesting to see whether the tiny house movement can or does take hold in Miami.
This house on wheels had solar panels … and other than that I have no clue as to what else it did or didn’t have … or even where it was headed… but I was unquestionably amused, and am still smiling.
And to top it off, the first person I showed this picture to said “Oh, I need to move there!”
Whatever you real estate needs, Alexandra and I would be pleased to work with you … The Restivo Hechtman Team at EWM Realty International. Contact us anytime !
www. MiamiRealEstateCafe.com – Our Miami Real Estate Blog and Website
Alexandra Hechtman 305 632-0164 and Vicki Restivo 304 793-1365 [email protected]
Miami America’s City of the Future: Miami Ranks #6 on The Knight Frank Global Cities Survey Wealth Report
Miami … “America’s City of the Future”
The Knight Frank Global Cities 2015 Wealth Report ranks cities based on 4 factors: economic activity, quality of life, knowledge & influence, and political power … as well as taking into account the wealthiest individuals who call each city home. Miami ranks #6:
- New York
- Hong Kong
… For more information on buying or selling real estate in Miami … or moving to or from Miami … contact Miami Realtors Vicki Restivo & Alexandra Hechtman 305 793-1365 EWM Realty International
Pinecrest Place – Luxury Gated Community of 10 Homes in North Pinecrest Broke Ground – GC3 Development
Pinecrest Place recently broke ground and is now officially underway in North Pinecrest … with half of the homes in Pinecrest Place already having been sold …
GC 3 Development saw a need for a luxury gated home development, and is doing so at the site known as The Horse Farm which Binder Development purchased for 5 million dollars in 2014 …. Pinecrest Place will consist of 10 single family homes… located at 9600 SW 72nd Avenue … diagonally across from Royal Palm Tennis Club.
Each home within this private gated community will occupy a builder’s half acre (15,000 sq feet).
Each will have it’s own private pool. Each will range in price from $2.495 million to $2.9 million.
Mature trees will be strategically relocated so as to create an impressive canopy & landscaping, and the homeowners association will provide private lawn and pool service.
Features: High quality finishes. Mia Cucina kitchens. Impact glass. Well designed living spaces. 19 foot ceilings. 6 bedrooms minimum. Each bedroom with it’s own ensuite bath. Cement tile roofs. One and two story options.
We met with Sergio Fuenzalida, Sales and Development Associate of GC 3, last week, to discuss the project on behalf of a client . There are fuve homes still available.
Stunning views of the lagoon, bay, ocean, green belt & golf course from the wrap-around terraces on this 14th floor Siena penthouse in Deering Bay Yacht & Country Club: 13611 Deering Bay Drive – PH #1404 – Coral Gables, Florida.
We just re-priced this upper penthouse unit today. It is now listed for $1,650,000.00 Included in the sale are a separate private 2-car garage with direct private elevator access to and from the unit … plus a golf cart & deeded golf cart space.
There are 2 units in Siena that come with direct elevator access to the unit’s deeded, private garage. Only two. Having a garage could be a plus if you are moving from a house to a condo …
And the view… The view from this penthouse will take your breath away!
If you wish to arrange a private showing, please feel free to contact either one of us at EWM Realty International …
Vicki Restivo 305 793-1365 or Alexandra Hechtman 305 632-0164.