Miami real estate news and information

Archive for the 'MIAMI REAL ESTATE' Category

Join us for a Palmetto Bay Open House

Stop by our Open House this Sunday, February 11 from 3-5 PM in Palmetto Bay. Located at 7740 SW 141 St, this 5 bedroom, 4 bath home features a separate guest cottage and wonderful outdoor entertaining spaces. Guest cottage boasts kitchenette, dining area, bedroom and bathroom – and it’s own private entrance from the screened in pool and patio area. The home features 3,176 square feet and is offered at $649,000.

Stop by and check out this Palmetto Bay pool home! Contact the Restivo Hechtman Team for more information or for a private showing.


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5 Reasons to Hire a Realtor

If you’re thinking of buying or selling a home, there’s plenty to think about. A real estate professional can make it easier to help navigate from start to finish. Here are five reasons you might want to hire a Realtor…

1. PAPERWORK – There are lots of rules, regulations and disclosures involved in a real estate transaction and it’s helpful to have someone on your team that knows the ins and outs and who’s able to look out for you. If you’re buying, we will gather all the information and prepare the offer, make sure there are no surprises in the contract and look out for your best interests. If you’re selling, we sift through any offers that come in and make sure you’re getting the best outcome for you.

2. EXPERIENCE – Working with a local realtor who has dealt with buying and selling homes in the area you want to buy or sell in is invaluable. You need someone who knows the area, understands the market, can navigate through unexpected surprises (yes-they happen), and who has a rapport with other realtors in the area. We have been part of the local Miami real estate community for over 15 years combined and are well versed in all there is to know and help you.

3. NEGOTIATIONS – This is a key factor in a real estate transaction. Of course, we help get the best price we can for you. What’s also important is having someone on your team who is able to help keep a transaction from falling apart after inspections or an appraisal. As Realtors, we do our best to ensure that you are able to sell or buy your home.

4. PRICING – A Realtor knows the value of local properties and we can help you establish a fair value when buying or selling a home. It’s important to get the most value for our buyers or sellers, based on the local market.

5. UNDERSTANDING MARKET CONDITIONS – The market is constantly changing. It’s helpful to have a professional who knows the market conditions and can easily explain them to you.

Many people won’t hire a Realtor because they think it benefits them in the long run. A Realtor is there to help you and to represent you. Often times, a Realtor can get you a better price and will also make sure there are no surprises in a contract or throughout the buying or selling process. The Restivo Team works diligently to take care of their clients and would love to chat with you about your needs. Contact the Restivo Hechtman Team today to get started.


Source of Chart: Keeping Current Matters


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Time to file for Homestead Exemption

If you moved within the last year, don’t forget to file for your Homestead Exemption.To qualify, you must be a US Citizen or Legal Resident, you must own the home and it must be your primary residence.

The deadline to apply is March 1, 2017 – don’t wait! Filing for the exemption will give you significant tax savings. Once you have the Exemption, it will be automatically renewed every year.

CLICK HERE for detailed instructions on filing.

If you have questions about filing, or are interested in selling or purchasing a home, contact the Restivo Hechtman Team today.

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Sunday Open Houses

Join the Restivo Hechtman Team for two Open Houses this Sunday, January 8.


7740 SW 141 St in Palmetto Bay

Open 12-2 PM

This pool home features 5 bedrooms, 4 bathrooms and a guest cottage! The main home features 4 bedrooms, 3 bathrooms while the cottage is a 1/1 with it’s own kitchen, living room and dining room.                     Offered at $649,000




10651 SW 65 Ave in Pinecrest

Open 3-5 PM

Grove-Inspired Lifestyle…in Pinecrest. 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.  Offered at $1,495,000

Stop by and check out these beautiful homes. Contact the Restivo Hechtman Team for more information or to schedule a private showing.

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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):


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]”


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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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