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How U.S. Presidential Election of Trump May Impact Real Estate Trends

The morning after the election, our inbox was filled with inquiries from foreign investors, second home buyers and international clients, inquiring as to what the impact of the election of Trump as the 45th President of the United States might have on Real Estate Trends.

9/11We wanted to share one email … along with our thoughts in response”

“Dear Vicki and Alexandra,   Finally America has elected and has chosen the 45th President of America.
It was an amazing election that the whole world has followed and has held their breath.
We also have followed closely the American polls till the end and we witnessed the result very early in the morning in Asia.
We don’t know if it is good to have Donald Trump as a President but what we can say  is that we wish America all the Best
It’s time to show to everybody the end of the establishment and the it’s legacy.
We hope the economy of America will be maintained, with stability and growth.  God bless America!
We would also be grateful if you could give us your opinion about the consequences for the real estate in Miami.  What trends do you foresee and expect?”

Our thoughts in response:
“While the stock markets reeled on election night with the uncertainty of change and the surprising election results, that bauble or drop was due in part to  “nerves”  of the unknown …
What the more “long term” impact will be,  we will have to wait and see … over time.
Change could well prove to be a good thing.  Real estate tends to be consistent, and generally follows  a basic pattern of rises and falls.
We will likely see some wobbles and concerns in the condo markets in three particular areas of Miami:  Miami Beach, Downtown Miami and in the Brickell area…  due though primarily to/and because of the fact that there is  a vast amount of new construction projected for those areas, both pre-construction and currently under construction … And that is something that will continue over the many months (and years).  For the most part, real estate is historically one of the safest and strongest long-term investments.
The country seems to be accepting the results of the election … and the genuine heartfelt personal  acceptance, concession and olive branch speeches from Trump, Clinton, and Obama seem to have had a calming and unifying effect on the country as a whole.  I  (and the world news!) will update you with any perceived changes …  I firmly believe that the elections will, in no way, deter investors and second home buyers from continuing to invest in Miami.   Miami has long been a desired destination,  and the global economy will continue to see South Florida that way.  I am optimistic  and hopeful about the real estate market.
Regards, Vicki Restivo and Alexandra Hechtman – EWM Realty International – [email protected] -MiamiRealEstateCafe.com”

 

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Miami Welcomes Autumn … Stone Crab Season Has Started!

imageUnlike much of the country (which celebrates autumn’s seasonal changes with the more traditional apple picking and enjoyment of fall foliage),  Miami has our own special way of welcoming in the fall.

Miamians mark the start of OUR fall, effective  the day “Stone Crab Season” opens, and that was this weekend!

Officially underway as of October 15th…. Stone Crabs are back … and Joe’s Stone Crab is open again for business thru May 16 ( Joe’s  is an iconic Miami Beach restaurant, which started as literally just a shack  … in the same spot … and is now in it’s 103rd season):  Joe’s Stone Crab –  111 Washington Avenue – Miami Beach.

I’m sure the lines are exceptionally long, as ususal …  I know of many who will be waiting on line, but some of us will wait a few days before attempting entry.   It’s a fun way to welcome in the Fall, Miami Style.

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Hurricane Matthew Update

With Hurricane Matthew churning a little too close for comfort, we hope everyone is prepared just in case the storm reaches our backyards. By now, you should be stocked up on supplies, have all your outdoor things moved inside and you should have a plan in place.

Here’s what the watches and warnings mean:

  • Tropical Storm Watch means tropical storm conditions with sustained winds of 39 to 73 mph are possible within 48 hours.
  • Tropical Storm Warning means tropical storm conditions with sustained winds of 39 to 73 mph are expected within 36 hours.
  • Hurricane Watch means hurricane conditions with sustained winds of 74 mph or higher are possible within 48 hours.
  • Hurricane Warning means hurricane conditions with sustained winds of 74 mph or higher are expected within 36 hours in advance of the onset of tropical-storm force winds.

AS OF THE 11 PM ADVISORY, MIAMI DADE COUNTY IS UNDER A TROPICAL STORM WARNING .

Some other things to keep in mind:

  • Have enough water for each person in your household
  • Charge all cell phones and keep a corded phone handy
  • Take some cash out from the bank
  • Make sure to fill all your cars up with gas and get enough fuel to power generators and other gas-powered tools
  • Be sure to protect your electronics with power surge protectors
  • Don’t forget your pets- make sure you have enough food and water for them as well
  • If you own a boat, use double lines at a marina, or consider dry-dock storage

During the storm, stay in a “safe room” ( a room with no windows or doors) and monitor your tv or radio for instructions from public safety officials. If you lose power, turn off all major appliances. Instead of candles, use flashlights as your light source. Make sure pets are inside with you.

After the storm, stay inside until authorities have given the all clear. Don’t drive or walk through standing water. Stay away from downed power lines and report them to FPL.

Some important phone numbers:

  • 3-1-1: Government Information
  • FPL: 1-800-4-OUTAGE
  • 9-1-1: Emergencies

Let’s keep watching the storm and see what path it decides to take. The key is being prepared. Whether Matthew grazes past us with tropical storm force winds or unleashes it’s stronger hurricane force winds, be prepared, stay safe and keep listening to our public officials…we’ll get through it. It’s part of the trade off we get for living in such a beautiful tropical paradise! Now, it’s time to get our Hurricane Party started…

 

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The Underline – Reinventing Miami’s Outdoor Space

jcfo_underline_00-typical_proposed-dayHave you heard about the Underline? It’s a fabulous new project that will redevelop a 10-mile path along the MetroRail from Dadeland to Brickell. The plan is to redesign the space underneath the MetroRail and make it into a linear park with an urban trail. The Underline is especially meant to connect communities with a more pedestrian and bicycle friendly way of getting around, while making the park into usable spaces for everyone. The idea is to add exercise equipment, native vegetation, bike kiosks, pop-up shops, playgrounds and art. There are also plans to improve all the stations and intersections along the MetroRail.

jcfo_underline_04-brickell-hammock-trail_proposedFounded by Meg Daly, this project is not only going to improve the space underneath the MetroRail, but it will also have great economic impact in the surrounding areas. There will be new development along the corridor, creating new jobs and real estate appreciation. Their studies indicate up to 25% increase in the value of properties adjacent to the corridor and up to a 5% increase in property values up to 1/3 a mile away.

The Master Plan was designed by New York’s James Corner Field Operations, and the University of Miami School of Architecture Studies – under the Dean of the University of Miami’s School of Architecture,  Rodolphe el Khoury – received valuable input from student and faculty resources. Professor Rocco Ceo led a class of 10 students to create a concept design for park space, trail and intersection improvements.

Tjcfo_underline_08-university-rain-garden_proposedhe Master Plan is fully funded, while construction funding is up to $5 million. The rest of the funding will come from public and private donations, while the trail and intersection improvements will be funded by private sources. The Friends of the Underline is a non-profit organization responsible for getting this project going and seeing it through to it’s completion. Similar projects have taken about 10 years to complete, so the Underline could take that long to complete. If you would like to help with ideas or donations, you can do so by joining the Friends of the Underline.

Thank you to Friends of the Underline for sharing their images, renderings and statistics with the Restivo Hechtman Team. We look forward to seeing the positive impact this wonderful project will have on the community.

 

 

 

 

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What’s Selling in Pinecrest

In the past month, there have been 15 Closed Sales of Single Family Homes in Pinecrest. They range from as high as $5,350,000, down to $602,500. For the most part, these homes sold at or near asking price.

The Average Price Per Square Foot was $321.05 and Average Selling Price was $1,438,833.33.

There are currently 191 Single Family Homes For Sale in Pinecrest.

chart pinecrest

If you are considering Buying or Selling, contact the Restivo Hechtman Team today. We know the market and are here to help you!

 

 

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Zillow CEO Spencer Rascoff Sells His Own Home 40% below Zillow’s Zestimate

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

 

 

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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:

  1. London
  2. New York
  3. Hong Kong
  4. Singapore
  5. Shanghai
  6. MIAMI
  7. Paris
  8. Dubai
  9. Beijing
  10. Zurich

… 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

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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.pinecrest place pic

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.

Photo credits and article link via The Real Deal & GC3 Development.  Contact the Restivo Hechtman Team at EWM Realty International for more information 305 793-1365 or 305 632-0164 [email protected]

pinecrest place pic 1

Interior Features

• Chauffeured Ceilings in Living Areas and Master Bedroom
• Aluminum Impact Resistant Windows and Doors
• $12/Sq. Ft. Flooring Allowance Material and Installation
• 10’ Custom Sliding Doors in Great Room
• Spacious Walk-In Closets Throughout
• Designer Coordinated Lighting Package
• Linear Diffuser Air-Conditioner Grills in Common Areas and Master Bedroom
• 7” Wood Baseboards
• Interior Pre-Hung Solid Core Doors
• Sherwin Williams Flat Latex Paint
• Pre-Wiring for Cable, Phone and Internet in Family Room and Bedrooms
• Audio and Video Standard Wiring in Three Locations
• High Efficiency Air-Conditioning Units
• Remote Controlled Garage Door
• Front Loader Washer and Duet Steam Dryer
• Tankless GAS Water Heater
• Full Security System with Siren, Motion Detector and Cellular Connectivity
The Gourmet Kitchen
• WOLF SUB-ZERO Luxury Appliance Package
• 48” Refrigerator with Water Dispenser
• WOLF 48” PRO GAS Range/ Oven
• WOLF 52” Exhaust in Ceiling
• WOLF 24” Microwave Drawer
• SUB-ZERO 24” Wine Cooler
• ASKO 24” Dishwasher
• Top-Quality Fixture Package
• MIA CUCINA Italian Kitchen Cabinets
• Standard Hardware for all Cabinetry
• Quartz Countertops (Standard Selection)
Elegant Bathrooms 
• Top-Quality Fixture Package
• Countertop Basin Sinks
• Double Sink in Master Bathroom and Single Sink in
    Secondary Bathrooms
• $12/Sq. Ft. Flooring Allowance
• Modern Quartz Countertops
• Frameless Glass Shower Enclosures
• MIA CUCINA Cabinets
Unique Exteriors
• Pre-Fabricated Wood Roof Trusses
• 15,000+ Sq. Ft. of Land
• Aluminum Windows
• Sherwin Williams Acrylic Flat Paint
• Designer Concrete Driveway
• LUSH Landscaping with Automatic Sprinklers
• Flat Concrete Roof Tiles
• Aluminum Louvered Railings
• Custom Decorative Wood Out Lookers
• Decorative Aluminum Louvered Accents
• Insulated Aluminum Garage Doors
• Private Backyards
• 18×36 Private Swimming Pools
• Retractable Awnings in Select Models
Community Amenities
• Mature Hardwood Trees
• Gated Community

 

 

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Magazine Quality Home in South Miami For Sale for $1,999,000 -7420 SW 66th St, South Miami, Florida

IMG_0056

MAKES YOU FEEL AS THOUGH YOU’VE BEEN WHISKED AWAY TO YOUR OWN PRIVATE RESORT!

IT BELONGS ON A MAGAZINE COVER AND IS LOCATED SMACK DAB IN THE MIDDLE OF ONE OF MIAMI’S BEST NEIGHBORHOODS, NEAR THE END OF A CUL-DE-SAC.

IT  IS MAGNIFICENT IN ALL IT’S DETAIL… 7420 SW 66th STREET, SOUTH MIAMI, FLORIDA …  LISTED FOR SALE FOR $1,999,000 THROUGH ALEXANDRA HECHTMAN 305 632-0164 and VICKI RESTIVO 305 793-1365  – EWM REALTY INTERNATIONAL

IMG_0426

THIS HOME WAS DESIGNED FOR LAVISH ENTERTAINING … AND TRANQUIL ENJOYMENT.

SPECIAL FEATURES:  AN OUTDOOR FIRE PIT. COVERED PATIO. BUILT-IN GRILL. OVERSIZED HEATED POOL.  SWIM-UP BAR.  GENERATOR.  ENDLESS EXQUISITE DETAILS. HIGH CEILINGS.  PARKING FOR 12+ CARS.

IMG_0313  IMG_0444

7420 SW 66 STREET IN SOUTH MIAMI  WAS AN ORIGINAL RAMON PACHECO DESIGN,  RECENTLY REMODELED BY SAINT CLAIRE CONCEPTS … WITH LIMESTONE, MARBLE, BRAZILIAN CHERRYWOOD & WALNUT FLOORS.

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THERE IS A SOPHISTICATED AUDIO SYSTEM, INSIDE AND OUT.

PRIVATE,  PARK-LIKE SETTING WITH AN AUTOMATIC MOSQUITO MISTING  SYSTEM.  THERE IS A BUNKER/SAFE ROOM. WINE STORAGE.  LIBRARY. GYM. CUSTOM DOORS WITH EUROPEAN STYLE HIDDEN HINGES. UPDATED ELECTRICAL/PLUMBING/AIR CONDITIONING. NUMEROUS OTHER EXQUISITE DETAILS.

IMG_0308

FURNISHINGS ARE AVAILABLE FOR SEPARATE PURCHASE.

****NOTE:   BETWEEN THE WRITING OF THIS POST AND THE PUBLISHING OF IT, THIS HOME HAS GONE UNDER CONTRACT, and IS NOW PENDING SALE.

FOR OTHER HOMES IN THE AREA, OR TO LIST OR SELL YOUR PROPERTY, YOU ARE MORE THAN WELCOME TO CONTACT THE RESTIVO/HECHTMAN TEAM at EWM REALTY INT’L, ANYTIME.  [email protected] 305 793-1365.  LET US HELP YOU WITH YOUR NEXT MOVE!

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First Quarter 2015 – EWM Ranks #1

Selling a million dollar plus listing every 15 hours in South Florida …. EWM Realty International Ranks #1 in Sales – Q1 – 2015 in Business Monday.

The Restivo Hechtman Team is proud to be part of EWM and among the experienced experts in Million Dollar sales.We are dedicated to helping you buy or sell your home in South Florida.

Don’t wait, let’s get started today!

 

million dollar listings

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