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Archive for the 'MIAMI REAL ESTATE' Category

Grove-Inspired Lifestyle in the Heart of Pinecrest

Savor Coconut Grove’s Lifestyle – but from this perfect Pinecrest address. Canopied by mature, manicured black-olive trees, along pathways through gardens filled with rare palms, exotic foliage & fruit trees, this 4 bedroom, 3.5 bath Pinecrest home combines modern updates along with an unrivaled tropical backdrop.

Ultimate privacy, unpretentious setting, unforgettable haven. Everything about this home will remind you of a time when authors & artists escaped to the Grove for inspiration and solace. Remodeled, restored & renovated, this house is unique beyond words. A new wing was added in 2000. New baths, a master suite & gourmet kitchen built in 2012, offering the elegance & efficiency you’d expect in the best homes.

Originally built in 1950 by John Koumjian, this is believed to be the one of the oldest post-World War II houses in the Village of Pinecrest & just 1 of 2 remaining houses made entirely of slump brick in the area. Magical backyard, anchored by a 50 x 20 foot swimming pool. Al fresco poolside grilling & dining.

If you’re looking for the quintessential Grove home (in Pinecrest) …you’ve found it. Inspired by the casual cool luxury of the Grove…with it’s lush tree canopy & screened outdoor areas…this acre property may be the perfect one for you.

Offered at $1,595,000. Check out the Visual Tour for complete photos and contact the Restivo Hechtman Team for more information and to schedule a private showing at any time.

 

 

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How Much Are Home Improvements Worth … According to Appraisers?

Home buyers are willing to pay more for extra features/improvements/upgrades  (such as a pool, a new roof, a tennis court)  ….  But how do appraisers value those improvements?  The answers may surprise you.  They surprised all of the Realtors in our offices!

After surveying Appraisers in South Florida,  Philip G. Spool, ASA (Appraiser and General Magistrate) presented his findings to our weekly office meeting at EWM Realty International.  (First though, he had each of us (all Realtors) participate in that survey… and it was eye-opening)

So ….  what contributory values do appraisers give for ‘improvements”  like impact glass, a new roof, landscaping, a new pool?

Here are the answers …  (**For properties in Coral Gables, Pinecrest, Palmetto Bay and the surrounding areas):

ITEM & VALUE:

Additional full bathroom:    $10,000

Additional half bathroom:   $5,000

Open pool & patio (original age):   $15,000 – $25,000

Open pool & patio (relatively new):  $20,000 – $30,000

Additional value for screen:   Zero – $5,000

Additional value for heated:   Zero – $5,000

Impact glass windows:   $15,000 – $25,000

Stand alone generator:   $5,000 – $15,000

1 car vs 2 car garage:   $10,000

Carport (1 car):   $5,000

Tennis court:     Zero – $15,000 (average is $10,000)

Fireplace:    Zero – $5,000

Located on a canal:   $10,000 – $20,000

Located on a lake:   $25,000 – $50,000

Landscaping:   Average is Zero Dollars

Driveway:    Average is Zero Dollars

Roofing:    Average is Zero Dollars  (but it is reflected in the the “condition” of the property)

If you’re considering buying, selling or relocating, contact the Restivo Hechtman Team at EWM Realty International …  call us.

We will help make your next move, the best move!

Vicki Restivo & Alexandra Hechtman –  Top Producing Miami Realtors  –  305 793-1365   [email protected]

Philip G. Spool, ASA, is a State-Certified General in Florida, appraising over 36 years. Formerly the Chief Appraisal of Flagler Federal Savings and Loan Association, he has been self-employed for the past 17 years. In addition to appraising, he is an instructor with Miami-Dade College, teaching beginning and advanced residential appraisal classes as well as continuing education. He can be reached at [email protected] or 305 235-2996.  Phil Spool, ASA, was interviewed for this and other articles in MiamiRealEstateCafe by Vicki Restivo, Realtor, Esslinger Wooten Maxwell (EWM Realty International), whom you can contact here with any real estate related questions..

Additional Property Appraisal Insight Link

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Happy Thanksgiving

From our Family to yours… Happy Thanksgiving!

miami real estate

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SOLD for FULL PRICE in Pinecrest

img_5063The Restivo Hechtman Team recently sold the listing at 6330 SW 107 St in Pinecrest. This magnificent estate features 6 bedrooms, 7.5 baths with 7,429 square feet. The 2 story home boasts a gated entry, high ceilings, working fireplace and chef’s kitchen.

Upstairs features master suite with private loggia and magnificent views of the yard/pool and a separate children’s wing with play area. The backyard is great for entertaining, with ambient lighting, pool, built in bar and covered terrace.

The 6330 SW 107 St sold for full asking price – $2,500,000. It was a pleasure to be part of such an amicable process between buyer and seller. Congratulations to our Sellers and we welcome the buyers to their new home!

If you are looking to sell your home or are in the market for a new one, contact the Restivo Hechtman Team…we will help you with every aspect of the process. We’re here to help YOU!

 

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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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The Home Buying Process

Ready to move into a new home but not sure where to start? Here’s a breakdown of the process from start to finish.

To start, enlist the services of a Realtor you trust and can rely on.

In working with buyers, we like to chat with you and find out what you’re looking for…location, size, design style, pool, yard, school preferences, gated community, and ideal price range. Once we have your ideal home in mind, we sort through the homes that fit your needs and we make appointments to view them with you. Once you narrow it down, we can go back for a second look and make an offer on the home you want.

typical seller's expensesWe will present the offer to the selling side and negotiate the contract out on your behalf. When the terms are agreed to and the contract is fully executed, there will be an inspection of the home. During the inspection, an inspector will take a look at everything- plumbing, electric, structural, pests, mold- and give you a report. Depending on the results, you can continue moving forward with the purchase or move on to another home.

If you’re obtaining financing for the purchase, your application will be submitted very shortly after the contract is fully executed. The file will go to underwriting, where the bank will review your finances and qualify you for the loan. The bank will also order an appraisal of the property to determine the value of the home they are going to lend on. With a loan commitment in hand, you’re on the track to close.

There will be a survey, title and lien searches in order to provide clear title.

Once we have the clear to close, there will be a walk thru of the home to make sure everything is still the way it was agreed to in the contract and that appliances and any inclusions are in fact still at the property. Then…closing, where documents will be signed, title transferred to the buyers, funds transferred and keys exchanged. The home is yours!

The home buying process can be intimidating, but we can help you navigate through it smoothly, ultimately finding you your dream home. Don’t wait, contact the Restivo Hechtman Team today!

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Election Day

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HAPPY ELECTION DAY

No matter what side you’re on, get out there and vote!

If you decide neither one is for you and want to leave the Country, we can sell your home…call us today!

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Recently Sold in Palmetto Bay Gated Community

1The Restivo Hechtman Team recently sold their listing in the Gated Community of Flamingo Gardens in Palmetto Bay. The 5 bedroom 4 bathroom home features high ceilings, Italian tile and wood floors along with a new granite and stainless steel kitchen. French doors open to the pool/patio and “beachfront canal.” Outdoor features include a covered patio, a side yard with water feature, outdoor lighting and opulent landscaping. The home also boasts a wood burning fireplace, accordion shutters and a new roof in 2006.

7This beautiful home was listed for $799,000 and sold for $788,000.It was a pleasure working with our Sellers and a big welcome and congratulations to the new owners.

If you’re interested in selling or buying in Palmetto Bay (or South Florida), contact the Restivo Hechtman Team today!

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Pinecrest Tropical Oasis – Open House This Weekend

IMG_1631Join the Restivo Hechtman Team for an Open House on Saturday 11/5 and Sunday 11/6 from 2-4 PM at 10651 SW 65 Ave in Pinecrest. This tropical inspired home was renovated, complete with new bathrooms and a chef’s kitchen that’s been featured in commercials. The home features 4 bedrooms, 3.5 baths, lush tropical landscaping with a hot tub and oversized pool. The grounds are filled with tropical fruit trees, exotic plants and mature palms…it’s like your own Fairchild Tropical Gardens! Imagine enjoying a cup of coffee on the terrace while listening to the palms swaying around you…your private escape from the hustle & bustle of everyday life.

Stop by and preview this unique, one of a kind home, offered at $1,595,000. If you can’t make it this weekend, contact the Restivo Hechtman Team for more information and to set up a private showing. This is truly a gem, unique in so many ways. If you’re looking for a Coconut Grove vibe and want to live in Pinecrest, this combines the best of both worlds. Don’t miss it!

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Pre-Construction Opportunity in Coral Gables

If you’re in the market for a pre-construction home, check out Laguna House. It’s a new project being brought to the heart of Coral Gables, at 4220 Laguna Street. We recently had the opportunity to visit the showroom and see what it’s all about.

Laguna House will be made of just 13 residential units…12 units and one penthouse on the 10th floor. The building will feature 2 units per floor (with the exception of the penthouse) accessed with elevators opening directly ilaguna-housento the unit, high energy efficient glass windows and doors, private balconies and summer kitchens, as well as a pool and sun deck on the 4th floor.  Interior features include custom Italian kitchens, imported floors and vanity tops in the bathrooms and a spa-like master bathroom. Each unit will feature open concept designs with a modern feel while still maintaining the integrity of the classic Coral Gables Mediterranean design.

The project is brought to you by the Rogers Development group- the group behind projects like One Village Place and Gables on the Green. Units will begin at 3,000 square feet, while the penthouse will be over 6,000 square feet. The ground floor will feature retail space as well. Average price per square foot is $732, with prices ranging from $1.9M – $3.2M (for the penthouse).

The building will be located next to Merrick Park which boasts shopping, dining and a new cinema currently under construction. It’s also centrally located with easy access to Coral Gables dining and shopping, an easy route to the airport, and not far from Coconut Grove, Pinecrest, Brickell and Miami Beach.

Construction will begin when 50% are under contract and they are close to that and ready to go. Contact the Restivo Hechtman Team today for more information and to set up a meeting to see the showroom. Even if you’re not looking for this project, we would still love to help!

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