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Archive for the 'MIAMI’S TOP NEIGHBORHOODS' Category

Coral Gables is Named Playful City USA

kids on slideThe City of Coral Gables has been named Playful City USA for the second year in a row. KaBOOM! recently announced the achievement, naming the Gables as one of 118 communities in 35 states to be recognized for their commitment to take action for play.

Every year, thousands of kids attend summer camps and afterschool programs in places like the Youth Center, the Biltmore and Granada Golf courses, the Biltmore  and Salvadore Tennis Centers, the Venetian Pool and 31 other parks. Coral Gables offers year round access to parks, basketball courts, ball fields, walking paths, playgrounds, and pet friendly parks.

If you would like to be closer to these amenities and are looking to move to Coral Gables (or any other South Florida neighborhood), give us a call. The Restivo Team would be delighted to help you.

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Venetian Coral Gables Villas – Miami Offers a Glimpse of European Elegance in the heart of Coral Gables

venetian coral gablesThe Venetian Coral Gables is a project that was intentionally put on the back-burner when real estate slowed-down in Miami. 

The developer/builder opted to weather-out the downturn, rather than accept reservations on the Venetian Coral Gables. He  postponed the start of construction, opting to wait for the real estate market to bottom out.  I think it was wise to wait.  The idea was to have the Venetian be very high-end … with every upgrade and amenity possible.  Starting constuction as the domestic real estate market was feeling the pinch, seemed unwise. 

So many of the construction projects that were slated to be built in Miami  a couple of years back were ditched… or forced into using lower end finishes …  They sat empty…  or teetered on or fell into either foreclosure or short sale.    Read the rest of this entry »

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RESORT-STYLE SPA LIVING IN MIAMI … Crash Pad Extraordinaire

Sensuality and Serenity … On Miami Beach.    If you’re looking to have it all …  You probably can.   The whole idea of Canyon Ranch is the lifestyle of endless vacation.  

How can you possibly have a bad day, when it starts out like this?

 It’s a European Style Spa  and Wellness Center…  It can be your home (your condo) in Miami …  Crash pad extraordinaire … A slice of paradise.      Canyon Pool

Body treatments, spa services,  indoor climbing wall, state of the art fitness center, dozens of exercise classes daily, four outdoor swimming pools,  Aquavana thermal treatments.    Canyon Ranch is out-of-the-ordinary …  Read the rest of this entry »

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Coral Gables Condo Market 2008-2010: PERCEIVED VALUE is WHAT SELLS!

January  2010  through   August  2010:  The number of Coral Gables condos/townhomes (listed for sale) is declining. Inventory is down.  Sales are up.  Buyers are looking for value … and price per square foot SOLD is just ONE indication of value .

In January 2010 there were 350 condos/townhomes actively listed for sale in the Gables. 18 of those 350 listing sold. By August 2010 there were 310 condos/townhomes for sale.  27  of  those 310 listings sold.    

As a seller, those figures speak loud and clear.  With roughly 325  units for sale in Coral Gables in any given month this year,  and with only 22  of them selling,  it  means that about 300 of them will  go unsold.   Only  about 14% of what’s available for purchase is selling.

Regardless of pricepoint, in order to sell your condo or townhouse, you need the X-factor!   What’s the X-Factor?  Whether your condo towers above the rest, or just stands out (enough to catch the eye of  the  meager 22 buyers who are buying) …  X-FACTOR is price, view, amenities, location …  and perceived value

If you’re priced at/ or below the “median” sales price in your area,  you will have a larger pool of potential buyers ‘looking’.  The median price is where the market flurry is.    Buyers will sift through the available listings,  and the handful  that are priced compellingly and that offer value, are the ones they will buy.  I keep coming back to “value”.  No matter what a buyer says they are looking for, they want ‘value’.

When average sales price is below average list price, which is where we are now….we are in a  buyers’ market… with  inventory to spare.   But the graph is inching closer … and the average list  price and sales price are moving toward one another.

1 month 8 months
  Jul 10 Aug 10 % Change Jan 10 Aug 10 % Change
For Sale 324 307 -5.2% 351 307 -12.5%
Sold 12 13 8.3% 11 13 18.2%
Pended 24 27 12.5% 18 27 50%
Date 1/10 2/10 3/10 4/10 5/10 6/10 7/10 8/10
For Sale 351 342 350 343 347 343 324 307
New Listing 46 37 57 54 71 43 51 45
Sold 11 12 21 14 34 15 12 13
Pended 18 18 19 23 30 20 24 27
Months of Inventory (Closed Sales) 31.9 28.5 16.7 24.5 10.2 22.9 27 23.6
Months of Inventory (Pended Sales) 19.5 19 18.4 14.9 11.6 17.2 13.5 11.4
Absorption Rate (Closed Sales) % 3.1 3.5 6 4.1 9.8 4.4 3.7 4.2
Absorption Rate (Pended Sales) % 5.1 5.3 5.4 6.7 8.6 5.8 7.4 8.8
Avg. Active Price 732 721 695 688 679 668 586 641
Avg. Sold Price 277 256 482 373 333 354 981 625
Avg. Sq. Ft. Price 214 219 265 246 239 249 494 410
Sold/List Diff. % 92 90 83 87 92 89 85 85
Days on Market 176 112 167 176 108 149 147 170
Median 207 248 250 268 288 239 240 235

In 2010 a buyer still holds the advantage.  The SOLD price on Coral Gables condos from January 2010 until August 2010 averaged $292 per square foot….  

In just the past two months (July/August 2010)  the selling price per square foot jumped: $494 in July 2010    …  and  $410 in August 2010. 

Back in 2007-2008 there were over 400 condos for sale in Coral Gables –  within any given month… On average, 10 of them would sell… and the average price per square foot  they SOLD for was $363.  It was a buyer’s market then… It is a buyer’s market now.

 

                                     INVENTORY & MARKET STATISTICS:  (Coral Gables Condos)

                                    Garage space is not included in the square feet calculations

Date 10/07 11/07 12/07 1/08 2/08 3/08 4/08 5/08 6/08 7/08 8/08 9/08 10/08
For Sale  410 425 359 414 431 443 478 479 458 418 401 423 424
Sold  5 10 5 4 8 7 9 2 17 16 12 8 12
Pended  6 7 5 3 17 6 13 13 20 17 10 15 9
Months of Inventory based on Closed Sales  82.0 42.5 71.8 103.5 53.9 63.3 53.1 239.5 26.9 26.1 33.4 52.9 35.3
Months of Inventory based on Pended Sales  68.3 60.7 71.8 138.0 25.4 73.8 36.8 36.8 22.9 24.6 40.1 28.2 47.1
Avg. Active Price  689 691 634 656 637 601 665 668 695 704 715 704 707
Avg. Sld Price  443 487 1154 610 1065 1177 503 787 610 409 289 517 381
Avg. Sq. Ft. Price  296 342 413 376 478 468 348 354 402 339 280 341 282
Sold/List Diff. %  86 96 91 94 90 92 93 96 94 90 89 81 86
Days on Market  256 177 199 127 94 103 153 91 124 162 182 174 100
Median Price 380 312 1005 537 612 900 375 788 335 264 232 242 292

If you are looking to buy or sell property in South Florida, please don’t hesitate to contact us here or on our cellulars 305 793-1365 or 305 632-0164  …  Restivo Team.

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Green Task Force Now in Coral Gables

On July 13, the City of Coral Gables approved an 11 member Green Task Force. The Task Force will advise City officials on matters that support sustainability and will make recommendations on the environmental sustainability of City services, programs, facilities and equipment. They will also help develop a plan to increase environmental awareness. green

The group will promote the practice of green development, recycling, energy efficiency, water and energy conservation, green transportation alternatives, waste reduction and building design issues, among other things. The task force will be made up of 11 member, all Gables residents-including a historic preservationist, a landscape architect, a planner, an engineer, an architect, a member of the University of Miami, a member of the Coral Gables Chamber and another member from the Garden Club.

The Green Task Force will be effective October 1, 2010.

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Code Red: Coral Gables Emergency Notification System

alertThe City of Coral Gables has the Code Red Emergency Notification System, which is a high speed telephone communication system for emergency notification services. It can send notification to target areas or to all areas in the City in case of an emergency such as evacuation notices, pre and post hurricane notices, or boil water notices. The system can dial up to 50,000 numbers per hour. It will deliver an emergency message to an answering machine or a live person and will attempt a call three times. The system has been in place for  a few years, but if you are a Gables resident and are not signed up, you may want to look into it. If you would like to move to Coral Gables or anywhere else in South Florida, contact the Restivo Team…we would be happy to help.

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Open House Weekend: 14610 SW 66 Av and 7820 SW 51 Av

This weekend, the Restivo Team will be holding two Open Houses. The homes will be open On Sunday September 19, so come and take a look around.

 

7820 SW 51 Av  is located in High Pines and is an absolute charmer. This 4 bedroom 2 bath home boasts terracotta tiles throughout the main living areas and wood floors/parquet in the bedrooms. The foyer features a domed ceiling which opens into a large living room with a bay window. The kitchen overlooks the family room and private backyard. Near South Miami dining, shopping and entertainment.   Open 3-5 PM.

7820 sw 51 ave

7820 SW 51 Ave in High Pines

 

14610 SW 66 Av is located in the Guard Gated Community of Kings Bay in Coral Gables. Immaculate, this 3 bedroom 2 bath home features terracotta tile throughout. There’s a charming breakfast area and a spacious family room. Residents can access private marina thru Deering Bay, with overnight dockage and boating ramp. There are no HOA fees, except voluntary $50/year. “A” rated schools.    Open 3-5 PM.

14610 SW 66 Ave

14610 SW 66 Ave in King's Bay / Coral Gables

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MIAMI REAL ESTATE MARKET SNAPSHOT 2010 FOR PINECREST FLORIDA

real-estate-market

IN RESEARCHING RECENT HOME SALES  AND MARKET TRENDS IN MIAMI, I FOUND THAT THE PROPERTIES THAT ARE SELLING IN 2010 ARE SELLING WITHIN 10% OF THEIR ASKING PRICE – CONSISTENTLY.  IN SOME MARKET SEGMENTS, PROPERTIES ARE SELLING CLOSER TO 3-5% OF THEIR ASKING PRICE. 

THAT MEANS THAT PRICING HOMES PROPERLY IS KEY TO SELLING THEM … AND SELLERS AND BUYERS BOTH NEED TO KEEP THAT IN MIND.

IN PINECREST, FROM JANUARY 2010 THROUGH JULY 2010, THERE WERE  JUST OVER 200 HOMES FOR SALE  ON AVERAGE- IN ANY ONE GIVEN MONTH – THAT INCLUDES ALL LISTINGS, ACROSS THE BOARD, IN ALL PRICE RANGES.  OF THE 200 PLUS HOMES LISTED FOR SALE,  20 WERE SHORT SALES.  182 WERE REGULAR SALES.

WHAT SOLD?  Read the rest of this entry »

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Palmetto Bay Parks

Back to School doesn’t mean you can’t get out and enjoy the parks that Palmetto Bay has to offer! While the rest of the country is transitioning into the fall season, we can still enjoy the summer weather. The parks in Palmetto Bay have much to offer…

Coral Reef Park: Situated on more than 50 acres, the park is located in the heart of the Village. It features canals, a Pineland Preserve and open green spaces and sandy beach volleyball courts and a Meditation Garden. The Village is adding a concession and also plans on revamping the softball/baseball fields as well as the walking paths. The park is located at 7895 SW 152nd Street Palmetto Bay, FL 33157.

palmetto bay parkPalmetto Bay Park: The 25 acre park features basketball courts, a boundless playground (the largest in Dade County), a skate pavillion, and a six field softball complex. The park also has a concession building and observation deck as well as a recreation room. There are also picnic tables, tree lined pathways for biking jogging or walking, as well as large green open spaces. Located at 17535 SW 95th Avenue Palmetto Bay, FL 33157 and is open from sunrise to sunset.

Thalatta Park: The four acre park allows direct access to Biscayne Bay. There is much wildlife that thrives in the mangroves here-marine iguana, herons and pelicans, among others. On the property, there is a vintage residence, named “Thalatta” (meaning the sea). In 2007, the park was named after the house. There is a recreation room as well as picnic pavillions. The park is currently undergoing renovations and is expected to reopen in the winter of 2010/2011. It’s located at  17301 Old Cutler Road Palmetto Bay, FL 33157

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ONE PINECREST HOME WORTH COMMENTING ON!

ONE OF THE PERKS OF BEING A REALTOR IS GETTING TO PREVIEW HOMES THAT HAVE JUST COME ON THE MARKET.  LISTING AGENTS IN MIAMI HOLD THEIR NEW LISTINGS OPEN FOR BROKERS  ON WEDNESDAYS.  AND I WAS IMPRESSED BY ONE IN PINECREST THIS WEEK – WITHOUT A DOUBT IT’S BLOG MATERIAL. COMPARING IT TO OTHER SIMILARLY PRICED HOMES IN PINECREST, THIS HOME DEFINITELY STANDS OUTEVEN AS COMPARED TO OTHERS  PRICED WELL ABOVE IT5745 SW 97 STREET IN PINECREST. 

5745 SW 97 ST FRONT

WITH 50 PROPERTIES CURRENTLY LISTED FOR SALE IN PINECREST FOR $2 MILLION UPWARD,  THIS ONE STRUCK ME FOR A NUMBER OF REASONS…   THE TWO THAT MATTER MOST TO BUYERS: VALUE AND QUALITY. Read the rest of this entry »

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