Miami Real Estate

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Banks are holding on to shadow inventory.  Shadow inventory… the new topic of conversation …soon to be  common vernacular.    Shadow inventory is foreclosure inventory that’s about to come on the market -property the banks have not yet foreclosed on, and property the banks have not yet released for sale.  No, there’s not a likelihood that there will be a flood of foreclosed properties, dumped onto the market.  The  foreclosure inventory will likely be released in drips and drabs… but the experts agree… foreclosure inventory will increase, and it will affect the housing market – and prices… causing prices to drop. Read the rest of this entry »

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Case Shiller predicts that you will have lower (and fewer) offers on your house.  Why?  Because buyers won’t be able to afford the payments.  Read the rest of this entry »

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10 Years from now, someone will be saying:   “That house around the corner, I could have bought it for 1/2 that just  a decade ago,  and I could have gotten a 5% mortgage!”   Each generation says pretty much the same thing. 

My husband and I are kicking ourselves (still) for not having bought an apartment in Manhattan  30 years ago, in John Lennon and Yoko Ono’s building .  The one we  ‘almost’  bought was for sale for $40,000.00.  I can only imagine what it would be worth in today’s market.

And… we wish we’d bought a weekend get-away on Miami Beach.  Read the rest of this entry »

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Real Estate prices are dropping in Florida. What does that mean for the Real Estate Market – for 2010? Whether you and I are buying or selling (or just curious) …  information will be key to our decision-making.

New York Real Estate Guru, Steve Harney, and founder of “Keeping Current Matters”    flew to Miami last week to shed some light  – and met with Realtors from Esslinger Wooten Maxwell: “Shadow Inventory hasn’t (yet) hit the real estate market in South Florida.  Just How big a role will foreclosures play?” Read the rest of this entry »

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Miami attracts foreign buyers in droves.  The destination is appealing .  It’s  easy to get here.   From almost anywhere in the world you can be in Miami in just a few hours.  The weather is  hard to beat.  Where else can you be outdoors, poolside and oceanfront,  literally year-round?    Miami  offers an alluring lifestyle …  has a diverse population with  a mix of  cultures  and people .  Not hard to find common ground here:  food, languages, interests.  It’s an easy place to fit in…   make friends…  and feel at home.  

35% of  property bought in Miami over the past year was purchased by foreign buyers.  In 2009,   sales  of condos equalled the number of single family homes sold.  Read the rest of this entry »

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Miami is  back to the  property values we experienced  in 2000 – 2001.    From 2005 -2008  housing prices skyrocketed and homeowners saw a significant increase in their equity. 

If you bought a home or condo between 2005 and 2008  -  at the height of the housing market -   breaking even will  likely be a challenge  ( if you need to sell now).

Read on though, because the housing market has already begun to rebound!

Read the rest of this entry »

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BusinessWeek bellows:  “If you don’t buy a house now, you’re stupid or broke”.    Okay, Marc Roth softens the blow somewhat as his article continues … but the basic gist of the message is simple and straightforward.  Here’s what matters…  Want to know why?   Read the rest of this entry »

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What Is My House Worth?  

FOR A COMPARATIVE MARKET ANALYSIS (”CMA”) OF YOUR PROPERTY,  showing recently SOLD relevant properties,  as well as any currently FOR SALE ,  conact  the Restivo Team at EWM REALTORS.   

Curious as to what the value of your property is, and whether this would be the right time for you to sell?   

For a no pressure market valuation, contact us through www.MiamiRealEstateCafe.com  or 305 793 1365 or 305 632-1064.

READY TO SELL YOUR HOUSE NOW?   Considering listing your property  for sale?  All preliminary information is entirely confidential, and there is no pressure to sell with us.   We invite you begin the mutual evaluation process … just send us a note here.  We will determine together whether this might be the right time, and whether there is a ‘fit’.

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Vacant land is selling … listed  between $17 and $21  dollars a square foot in Pinecrest.    Acre  lots can be had for under $750,000. .. and  15,000 square foot lots can occasionally be found for as little as $350,000 … although most tend to be listed for, and sell above that.

Perceived value drives price.   While quiet streets  appeal to a number of home buyers …  highly trafficked areas and  intersections can (and do) appeal to others.

Adjacent to Pinecrest Park on the corner of SW 82 and SW 124th is a vacant lot,  listed for sale by Victor Mills and Marie Montgomery.  It has already been cleared and is ready to build.   It’s priced at just under $14 a square foot ($650,000 for 43,560 square feet).

After a hiatus on building,  Pinecrest is now seeing and increase in new construction.  Much of what is being built is luxury building… the single family, high-end homes, on a  rather mega-scale.  With vacant land opportunities such that they are now, more builders and individual home owners are looking at the available land for sale in Pinecrest.

Please give me a call if I can help with any of your real estate needs.

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