Miami real estate news and information

Archive for the 'IN THE NEWS' Category

Time to Buy Real Estate in Florida … or Not ?

Is this really the time to buy real estate in Florida?    Have we hit bottom and leveled out?

Steve Harney, in his Keeping Current Matters, seems to think so.  

Speaking to Realtors at EWM Realtors International in Downtown Miami last month,  Harney projected that real estate pricing would remain relatively flat in Miami in 2012.   But he added  ‘If you don’t buy today, you will likely regret it – big time – five years down the road.’

And he further indicated that with Miami real estate pricing being at the same level as it was back in 2002, now, but with interest rates having fallen from 6.11% to under 3.87%  the cost was actually lower (with cost and price being two entirely different animals).

Sales are up …  Prices will follow suit.   Read the rest of this entry »

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Crash in Housing Market … WHO DO YOU LISTEN TO? – “Sell Now?” … “Time To Buy?”

Well, if you’re reading any of John R. Talbot’s books , he has it pretty much spelled out:

Here are the titles :

2003:  “The Coming Crash in Housing Market

2006:  “Sell Now! End of the Housing Bubble

2012:  And now  he is quoted as saying …   “It is time to buy a new home!”. 

Warren Buffett agrees …  saying it’s time to buy…   and if you are looking for a top real estate agent in the Miami area, the Restivo Team at EWM Realtors would love to help you move on – whether you’re looking to sell or wanting to buy.  Alexandra and Vicki  305 793-1365 or 305 632-0164  both write for MiamiRealEstateCafe.com,  a Miami based real estate blog  providing information to investors, buyers and sellers.  The Restivo’s are top local real estate experts  in Miami who work with buyers and sellers, and offer referral recommendations  of top realtors nationally and internationally to relocating clients.    

 

 

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Private Island For Sale in the Florida Keys

Who hasn’t dreamed of owning their own island? Now you can, and it’s in our backyard. East Sister Rock Island is up for sale in the Florida Keys. The 3 bedroom, 2 bath home is situated on 1.4 acres and about a quarter mile off the coast of Marathon in the Keys. It boasts over 5000 sq ft of living area, with about 2700 sq ft of veranda, helicopter pad, a pool and two docks.

The island, reachable only by boat or helicopter, is nestled amongst a coral reef, making it great for water sports and snorkeling and fishing. It’s located about 2 hours from Miami and about 45 minutes from Key West. The house has 19 sliding glass doors and also features a veranda which wraps around the entire house, providing views all the way around.

Klaus Meckler built the island by digging a moat from the coral rock and making a plateau that rises 15 feet. The house was concrete poured and rests on 75 pilings drilled into the coral rock. The current owners – the Willifords – who bought the island in 1995 from Meckler, made the island green by installing a wind turbine and solar panels. Water is taken from rainwater that is filtered and stored for use.

Imagine watching the sun rise from the veranda, snorkeling and fishing all day and winding down with a glass of wine and watching the sun set from the hammocks nestled among the trees. I have stayed here, and let me just say…it’s worth the hype!

The estate is listed for $12 million and available now. It is one of 9 private islands in the Keys.

Contact the Restivo Team to own your own piece of paradise.

 

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3.8% Capital Gains Tax Starts in 2013 … How Will It Affect You ?

According to the National Association of Realtors® (NAR) a new real estate tax will go into effect in 2013.

The fact is that this capital gains tax of 3.8%  will impact relatively few sellers. First of all, it targets home sellers with  high annual incomes  (individuals earning $200,000 per year plus, and married couples earning at least $250,000) … who reap sizable profits on the sale of their homes ($250,000 in profit for an single individual …$500,000 if you’re talking about a married couple).   Link here for the pdf tax form.

And even for sellers who qualify under these two conditions, a tax may still not be levied. 

The reason why?   Other tax details need to be taken into consideration before the 3.8 percent tax can kick  in.   Simply having a high income (even if you make a substantial profit on the sale of your  home)  doesn’t necessarily indicate that you’ll be charged  3.8%  in capital gains tax.

Link here for the full article and the forms.   

If you’re considering selling now or in the near future,  and are looking for a top real estate agent to list and sell your house with, we would be delighted to meet with you.  Call or email us with your questions or connect with us here to arrange a seller consultation.   We are a mother/daugher team … experienced top local realtors in South Florida  …  Alexandra and Vicki Restivo … 305 793-1365     [email protected] and we would love to help you buy, sell or relocate… locally or internationally.   Call us.

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If you are SELLING within next 6 months … WHY you should SELL NOW!

Prices for Miami real estate are expected to remain stable.  We are currently in a so called ‘normal market’ with 5-6 months of inventory a the close of February 2012.

That said, IF you are planning to sell within the next 6 months, every indication suggests that you sell now.

The reason behind that is just last week the banks and the federal government came to an agreement as to how to move forward with the current inventory of foreclosed properties (‘shadow inventory’).   They came to an agreement as to how that bottleneck would be released (by the lenders) onto the market .

And not only that, but now there will be a new onslought of properties  that are Read the rest of this entry »

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Real Estate Sales Are On The Rise in South Florida

Buzz word on the streets, all over Miami, as well as in this recent article published by  HOUSINGWIRE.COM  is that real estate sales in South Florida are up from last year: 

“Home prices in South Florida jumped in the fourth quarter as international buyers and investors nabbed affordable inventory.

In Broward County, where Fort Lauderdale is the county seat, existing single-family home and condo sales increased 6% to 6,572 sales in 4Q 2011 from 6,225 in the fourth quarter of 2010, according to the Miami Association of Realtors.

In Miami-Dade County,  sales of existing, single-family homes and condo  increased in 4Q 2011 to 5,839 sales from 4,722 in the comparable year-ago period.”

Inventory is down  … having dropped drastically …  Inventory in Miami-Dade  is currently 40%  less than what it was  last year.  

Whether you are buying or selling, this is the time to be in real estate … especially if you’re looking anywhere in Miami.   Looking for an uber local real estate agent to work with ?  It’s  the Restivo Team at EWM Realtors …  305 793-1365  [email protected].   We look forward to hearing from you!

It’s important to understand the market and know where the opportunities lie.  Whether you are buying, selling, investing, relocating …   We appreciate that you’re reading our blog …    And we invite you to subscribe if you’d like.   Our real estate blog is MiamiRealEstateCafe.com and we are a mother daughter team of local real estate experts in the Miami-Dade areas of Miami Beach, Miami, Coconut Grove, Coral Gables, High Pines, Ponce Davis, Pinecrest, Palmetto Bay, South Miami … and neighboring areas.   Call anytime!  We would love to work with you!   305 632-0164  or 305 793-1365   (direct lines)  … Alexandra and Vicki Restivo

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Good News in the Real Estate Market

The Today Show aired a segment on January 31, 2012 on the Real Estate Market…there’s some good news, so take a look!

http://today.msnbc.msn.com/id/3041440/vp/46203461#46203461

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Miami to Cuba … Real Estate Market … Legal to Purchase Homes in Cuba?

Cuba now  has a real estate market?  According to a November 14 article in FloridaRealtors.org – Property sales  became legal in Cuba as of November 10,2011… for the first time in decades.

A sign of economic reform and opportunity?    According to that article the window is open for real estate purchases in Cuba  (although apparently  limited to  those  already residing within it’s boundaries).  Read the rest of this entry »

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Price is the Same … But the Cost is Less

More and more research is coming out showing that it makes great financial sense to purchase a home today .

Whether it be rent vs. buy ratios, income-to-price ratios or income-to-mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms. 

There is a distinct difference between COST of a home today compared to pre-peak prices.  Link here to the entire article, as it appears in the KCM Blog.

The most recent S&P Case Shiller price index indicates that  residential real estate values have returned to 2003 1Q PRICEs.   Then factor in mortgage rates,  and the case for buying a home today becomes even more compelling.

Whether you’re looking to buy, sell, or lease – it’s important to rely on a knowledgeable, local,  real estate expert.  

The Restivo Team at EWM Realtors International looks forward to working with you and making your next move a really good move.  Our direct lines are  305 793-1365 for Vicki  or 305 632-0164  for Alexandra  and  you can reach us here or by email at [email protected] as well…  for real estate in South Florida …  as well as referal assistance internationally.  

 

 

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Coconut Grove Home to be Auctioned December 17th – ON SITE

 This  Grove home at 3659 Bayview Road will be auctioned off – on site – at 11am  on Saturday, December 17, 2011 …   Whether you are looking to buy or sell, or are just interested in stopping by to see what’s going on, this may well prove to be a rather entertaining day in Coconut Grove!   Unlike in other parts of our country, there have been relatively few homes auctioned off, on site, in Coconut Grove.

Currently the home is  listed in the MLS for $869,000.00   According to all indications, the house  will go to the top bidder who comes in at/or above $790,000.00  –  There will be a 10% buyers premium  added …   and the MLS does stipulate that the top bidder needs to be prepared to sign a contract on the spot …  and that it be an as-iscash only sale…  It does allow for 3% commission to any selling agent.  Read the rest of this entry »

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