Miami real estate news and information

Archive for the 'IN THE NEWS' Category

Inventory Drops Dramatically as Home Sales Rise

Miami’s Real Estate Market is increasingly a source of frustration – for many home buyers.  Inventory continues to drop, meaning that there is less in the way of options for many of the buyers who are looking right now… and who have the resources to buy. 

Pending sales, and the number of homes sold have  increased each month as we’ve moved into what’s really  “prime selling season”  … Spring / summer is when most families tend to relocate  …  because of summer break …  moving before school starts.

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Miami Real Estate Listings, Foreclosures & Short Sales … What Is … What Isn’t

Surprisingly few homes right now … for sale … in Miami …  are short sales and/or foreclosures …  The numbers of  distressed properties listed in the Multiple Listing Services (MLS) have dropped.

In Pinecrest, of the 144 single family homes listed for sale in the MLS (priced from $278,000 to $5.3 million), only 8 are listed as short sales, and only 2 of them are shown as foreclosures. Read the rest of this entry »

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UM Presidents House Sells for $9 Million

By Michael Vasquez  The Miami Herald
 
The Gables Estates home that has housed every University of Miami president since 1974 has been sold for $9 million, while the school puts the finishing touches on a new Pinecrest presidential residence.
 
This bayside home on Old Cutler Road has served as the residence of University of Miami presidents for more than 40 years. It sold last month for $9 million.

Courtesy of Esslinger-Wooten-Maxwell Realtors

The waterfront Coral Gables estate that has housed University of Miami presidents for more than a generation — hosting everyone from world leaders to bright-eyed college freshmen — has been sold.

The price: a cool $9 million. The buyer: New Yorker Maria Montalva, who listed a posh Upper East Side Fifth Avenue address on county sales records.
Montalva could not be reached for comment, while UM President Donna Shalala declined comment.

A local real estate blog written by Esslinger-Wooten-Maxwell Realtor Alexandra Restivo described the home, built in 1965, as boasting a “tropical ambiance,” 4.6 acres of lush gardens, and a prestigious Gables Estates address.

“Here’s a chance to own a rare piece of South Florida history,” wrote Restivo, whose firm, EWM, represented both buyer and seller in the transaction. Read the rest of this entry »

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National Park Week

National Park Week is April 21 – 29 …  If you’re looking to get out and explore take a peak at what’s going on in our Breathtakingly Beautiful National Parks…  A Week in the Wild … A Guide to National Park Week … Mike Off The Map .

Arches National Park, Utah

It’s that time of year again! For one week, all 397 National Parks across the United States are absolutely free from April 21-April 29. With free entrance it opens a host of options to hikers, campers, and climbers alike, as well as an opportunity to inspire the next generation to take care of our treasured lands and promote environmental consciousness. Along with the endless possibilities of exploration, the National Park Service is hosting a wide breadth of events from volunteer services, to historical and cultural demonstrations. Here’s what you need to know about National Park Week 2012! Read the rest of this entry »

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Top Luxury Real Estate Agents in Florida

Miami’s  luxury real estate  market (property valued over $1 million) is dominated by EWM Realtors.  EWM  makes 48% more luxury sales in South Florida than our closest competitor, according to Ron Shuffield.  In the first three months of 2012 we sold over 100 properties in Miami valued over $1 million… many of which are multi-million-dollar properties.

If you are looking to sell, and are looking for an experienced real estate agent,  call us at 305 793-1365 or contact us here … The Restivo Team … Vicki and Alexandra.

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Which Real Estate Markets are in Bad Shape?

According to Chase Bank,  home prices are predicted to drop 6-7% in the nation before hitting rock bottom in 2012.

Prices in New York and New Jersey will drop 13%.  Illinois and Indiana and Kentucky will have significant drops in their housing prices, because of the amount of shadow inventory in each of those states. 

Also in bad shape are North Dakota and New Mexico … South Carolina and North Carolina.

What about Miami?     Not only do we have beautiful weather year-round, but from all appearances the real estate market in Miami is one of the few that has actually stabilized, making our neck of the woods a good investment option.   If you are looking to relocate we would love to help you!  We specialize in South Florida, and we can also connect you with real estate experts nationally and internationally to help with the other side of your move .   The Restivo Team at EWM Realtors, International.   305 793-1365

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Restivo Team Named Top 1/2 of 1% of Realtors Nationally

Thank you to each of OUR WONDERFUL buyers and sellers … and each of you who have referred the people you care about,  who are considering moving or relocating, to us.   You are the reason we are in the TOP 1/2  of  1%  Realtors Nationally.

 

We are honored to be recognized for our work … more honored still to have earned your trust …  in listing, selling and buying your homes and property through us.

Vicki & Alexandra Restivo – EWM’s Chairman’s Club –  Diamond Level 2011

Thank you again for your trust in us, and for your continued referrals of friends and family and neighbors.  We know you have choices … and we are honored to be your choice!    Vicki and Alexandra Restivo  305 793-1365  and 305 632-0164

EWM Top Producers Vicki & Alexandra Restivo

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South American Companies Again Looking to Relocate to Miami

Patrick O’Connell, in charge of Corporate Relocation for EWM Realtors,  indicates there’s a significant rise in relocations into Miami.

South American Companies are again looking to relocate to Miami.   That’s good news for those selling condos as well as single family homes …  and beneficial as well to investors who need to lease there investments to stable, solid tenants.

If you are considering buying, selling, relocating, investing or renting out property you currently own … we would love the opportunity to assist you!   [email protected]   You’re welcome to call anytime:  Our direct numbers are 305 793-1365   and    305 632-0164   Vicki and Alexandra Restivo EWM Realtors.

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Miami Real Estate Market Forecasts Miami Prices to Remain Stable in 2012

2012 will be breakthrough year in real estate according to the experts… in Miami.

Who is  FORECASTING WHAT …  FOR THE REAL ESTATE MARKET? :

Zillow says:  Prices in Miami will remain stable over the next 12 months, although prices will go down in Chicago by 7.6% …  and will similarly drop  in Atlanta by 8.5%.  “Prices WILL soften in Florida … and in the rest of the country…  BUT NOT IN MIAMI !!”   (according to Steve Harney of Matters, who spoke to a group of Top Real Estate Agents at EWM in Miami last week).  Harney demonstrated through recent sales that the propjected prices in real estate  will be flat this year (2012)  … with Miami pricing being at the same level as in 2002 … but with interest rates in 2002 being at 6.11%  as opposed to today being at 3.87%..

Warren Buffet  recently advised his secretary (of  many decades):  “Buying a home right now will be the best opportunity in your lifetime”.

Chris Thornberg  has had a change of mind about the real estate market.  Back in 2007 he warned “WAIT TO BUY, because you’ll get it for 10% less in a year”.  He was right.  Now he says “If you have been thinking about buying in Las Vegas , or a condo in Miami BUY NOW!”.   I don’t disagree.

And Celia Chen of Moody’s Analytics reports a 30% increase in existing home sales.

The Restivo Team at EWM is seeing an increase in property sales – both single family homes and condos – in Miami.  “When homes start going under contract before they even hit the MLS, as they are doing again now (March 2012) it’s an indicator that the real estate market has not only stabilized but is improving”.   Vicki Restivo – EWM Realtors, International.

Considering buying or investing ?    Miami is simmering …    Many opportunities for buying  (and buying well!)  right now – in South Florida!

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Midtown Miami … Recreating the Look & Feel of New York’s SoHo & Meat Packing District

MIAMI’S MIDTOWN is starting to take on the look and feel of New York’s Meat Packing and SoHo Districts.  

Miami has a new  “fashionably-trendy” hot spot… offering walkability… a neighborhood feel … nightlife… shopping and dining … entertainment … art … and a vibrant interactive community in the areas of  MIDTOWN  and the MIAMI DESIGN DISTRICT.   Wynwood, Midtown and the Design District are all  pretty much adjacent to one another – each of them located  immediately north of Downtown Miami … and  within blocks of the “10 billion dollar mile”.  

A host of trendy new restaurants, new condo construction, shops and restaurants  have seemingly sprung up overnight in Midtown and the Design District …  With the Miami Art Festival  (and influx of art galleries, dining options and stores popping up)   Midtown planted itself on the map at the end of 2011 …  and made it the talk of Miami in a matter of a few months.

Condos in Midtown can be bought for around $200.00 a square foot … brand new…   and range in price from around $200,000.00 – upward . Read the rest of this entry »

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