Miami Real Estate

If you are wanting to sell your house,  technology could be the magic bullet!  Selling property has moved into a new era of technology! 

“Take a look  … buyers worldwide can now see your house online,   and by running their cursor over the property photo,   link  directly to pertinent information about the house,   view other comparable homes for sale in the area,   and research everything at the touch of a hand”. 

Esslinger Wooten Maxwell Realtor, Vicki Restivo, says:  “This new technology exposes intimate details of  Florida Homes to  inquiring  eyes across the globe”. 

Take a peak at the cutting edge technology  here and explore the premier homes for sale.  Selling homes boils down to high tech genius. The e-Styled Mailer is another EWM first!  If you are wanting to buy or sell property in Miami,  please give me a call at 305 793-1365 or send me a note here  through MiamiRealEstateCafe.com.   It takes more than a For Sale sign!   We market to sell!

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Buying an older home in Miami?  If  it was built more than 25 years ago, there are some  insurance coverage guidelines  you may want to be aware of.     Tile roofs  30 years old, or more … require  recertification.  Shingle roofs  25 years old, or more… require recertification.  Both tile and shingle must have a minimum remaining life expectancy of  3 years .

Wind mitigation inspection (for roof,  and shutters/ impact windows and doors)  can cut your insurance premiums.  A roof  replaced after Hurricane Andrew  can save you a lot of money.   Savings  are the same, whether the house has impact glass or it has shutters.

Citizen’s Insurance requires homes built 50 years ago (or more)  to have updated plumbing, air conditioning, roof and electric.  That means that everything from the wall out (PVC piping, traps, etc) needs to be replaced.

A house with fuse boxes can benefit from reduced insurance rates, provided that the buyer issues a letter stating that he/she  will convert to circuit breakers within 30 days of closing.

Homes  35 years old (or older ) require a FOUR POINT INSPECTION.  The Four Point Inspection actually came into existence after  Hurricane Andrew slammed Florida in 1992 … and the inspection covers roof, electrical, plumbing, roof and HVAC ( heat, ventilation, and air conditioning). Passing the four point inspection gives new homeowners  insurance discounts that are fairly substantial.  Not all inspection companies offer these inspections and Citizens requires they  be done by an engineer, architect or contractor.

Many landlords now require their tenants  take out renter’s insurance. Effective January 6, 2009   Condo owners are  required to carry insurance above and beyond any insurance the building itself carries.  (Individual owners must now have condo unit owner’s policy).   The condo association and/or  mortgage company can enforce the rule.  

Rates for Citizens’ coverage are expected to increase by 10%  January 2010.

If you’re buying a house in Florida,  you’re probably wise to have all your inspections done at one time.  Doing so will save you money on the inspections themselves (as opposed to doing them separately) and passing those inspections will save on insurance coverage.

There’s a lot to navigate in buying or selling a house. MiamiRealEstateCafe.com  invites you to Contact Us with any questions you have regarding real estate.  We blog about what impacts Miami (buyers and sellers) and your comments and thoughts are welcome! Looking for a Realtor?  Call Vicki Restivo (305) 793-1365 / Alexandra Restivo (305) 632-0164.

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A distinct benefit to having other Realtors preview a HOUSE YOU ARE SELLING is FEEDBACK …  different perspectives… stories…  tidbits of history!  I LOVE the unsolicited feedback I got from one of my colleagues at EWM. …  simple… and  worth it’s weight in gold! 

My colleague from the EWM Gables office previewed a listing we are selling, at a Broker’s Open, and suggested that  the dining room seemed somewhat over-crowded… She proposed that some  furniture be moved out.  (Note: the living room was empty). 

With her brilliant comment and the ensuing brainstorm that took place during that OPEN HOUSE,  Alexandra and I  kicked  off our shoes,  schlepped a couple of pieces of furniture out from the dining room and put them into another room….    We removed the trunk  from in front of the window.

It worked!   ”Ahhhh”   The dining room opened up.  The living room has some corners filled in.  A seemingly insignificant  furniture re-arrangement can make a difference.  We removed one console and one side-piece  (blocking the window).  We put them both in the living room. 

The interior is gorgeous now. No question!  (It ALREADY was!)….  Let me tell you though, living on E-Lake…  as beautiful as this new listing is, your entire life will revolve around your backyard:  9200 SW 140 St in Miami.  Click here for more information.

The day before this particular open house, I’d asked the sellers to find a narrow table for the entry foyer … to define  the space. (They ordered it… and can now cancel!).  

Furnished  rooms are  best,  but  this one house was already so lovely as a whole,  that the unfurnished living room seemed almost inconsequential. My colleague’s ‘eye’  and her shared comment  resolved a  minor staging dilemna  …  in a heartbeat. 

I promised the sellers I’d come back and put everything back as it was,  if they had even the slightest objection to the “staging”.  They had no objections! It is a pleasure working with  gracious and amenable sellers!  

Selling your house?  Being affiliated with one of the top Real Estate firms in the country makes my full-time passion of selling real estate a joy!   Call me, I’d love to help!  Esslinger,Wooten, Maxwell Realtors  (known also as EWM Realtors)  is a well-oiled machine… with cutting edge  technology …  and a family of over 700 Realtors working together to SELL FLORIDA better, faster, smarter.   For your real estate needs  in Miami  (as well as for domestic or international relocations) … or any questions you may have regarding buying or selling property…  contact Vicki Restivo or Alexandra Restivo … and visit their website and blog at MiamiRealEstateCafe.com      (305) 793-1365 or email restivo.v@ewm.com

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OPEN HOUSES don’t sell homes!  …  (So they say!) …   But I’ve SOLD  many homes to buyers who came because of an open house. (I even sold a CONDO to a buyer who was visiting a friend and got off on the wrong floor -  An hour later, we had a contract!)  

Who comes to open houses?  Everyone and anyone:  ”Visitors” …  curious passers-by…  neighbors … “lookers” … “shoppers” …  and  yes,  actual real buyers.   

Will an open house sell your home?  Probably not.  YOUR REALTOR will sell your home.   An there are options:  Open Houses or Private Appointments. Which should you do?   Either or both… The  important thing is that it BE  SHOWN.  Statistics indicate that very FEW homes are ever bought  “sight unseen”.  The best way to sell a house ?  Make it visible and available to as many potential buyers as possible.  

Open houses aren’t for EVERYONE… Personally, I like OPEN HOUSES.   I hosted one yesterday for a stunning lakefront property at 9200 SW 140th Street …  on recreational  E-LAKE …  and served lunch to  Brokers and buyers, both. 

What’s the real benefit of hosting a broker’s open for the primary purpose of having other REALTORS see the property?   First of all Realtors do have buyers.  Furthermore Realtors walk, talk, network and share information with each other …  as well as with buyers.  Real estate is a business of connections, contacts and information-sharing.  Yesterday’s BROKER’S OPEN  brought more than just brokers and visitors.  It brought IDEAS!  Stay tuned… You can see  them on an  upcoming  Restivo blog on MiamiRealEstateCafe.com!   Watch for the blog  ” Unsolicited Advice from a Realtor: Selling Miami Better, Faster, Smarter! “

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What if you want to buy a house with PARTIAL SHUTTERS, or  without  any SHUTTERS WHATSOEVER? Not all homes for sale in Miami come with hurricane shutters!  Actually,  you might be rather surprised at how many homes  have NO  hurricane shutters…  NO impact glass… no protection!.

Can you  GET windstorm insurance on a house without shutters? In applying for a mortgage,  your lender will require windstorm insurance…. but the question is CAN YOU GET IT?   The word is out  that Citizens  may REQUIRE   the house you are buying to  have hurricane protection on ALL OPENINGS…  (if  the value of the house is $750,000.00  or more).   Wow!  And if it doesn’t … what then?

Buying a new home in South Florida ?  You’ll probably want  information  … up to date, current  data… about  the latest  windstorm insurance requirements. Don’t rely on here-say!

Buying a house with PARTIAL SHUTTERS, or one completely WITHOUT shutters? There ARE  a couple of  quick fixes.  Here’s one:  Citizens will provide you with windstorm coverage, temporarily, right from the date of purchase, as long as the house is brought into compliance within a specified period of time  (That time is  SHORT … to be blunt… but it can/and will… do the trick in a pinch.)   Citizens will give you just under two months (post-purchase), to bring your shutter situation up to code!. Citizens will cover a property that has no shutteres (or has partial… or  ‘not-to-code’ shutters), provided that the buyer brings the property up to snuff within 5o-some-odd-days from the time of purchase.   EWM Realtors Vicki Restivo and Alexandra Restivo  offer solutions, and make home-buying easy.  Questions?  The Restivo’s have answers!    http://www.MiamiRealEstateCafe.com

South Florida’s MAIN carrier  is Citizens. (Yes, there area handful of other windstorm insurers… but, they are few and far between).  A couple those  OTHER carriers, by the way, will insure properties that have no shutters.  They impose a value limit  up to, and not beyond,  a million dollars on the home itself.  If you’re looking to  buy a home  or vacation property in Miami,  rely on a Realtor who knows the ropes:  We’ll walk you through the process… one step at a time:   305 793 1365 Vicki Restivo…   305 632-1064  Alexandra  Restivo . Have the right information at your fingertips.  There are so many ways to save money when purchasing a home … and it’s not JUST on the purchase price or on insurance!   

Windstorm rates in Miami are promulgated.  And for some odd reason,  rates are higher to the west side of the highway…  lower to the east side of the highway.  (By ‘highway’  I am refering to  US 1…   also known as South Dixie Highway).  For the life of me though, I cannot fathom why  rates GO DOWN as you get  nearer to the water, but they do…  and if you can explain that,  I’d love to hear from you!

Throughout Miami,  you’ll see absentee owners  whose homes are barracaded for the season … contrasting with others of us,  slapping together last-minute or ”partial -shuttering” …  (as the shelves of Publix are nearly literally being stripped of food).

Miami is a breed in and of itself… a melting pot of ideas … Some of us look forward to our hurricane parties… neighborhood  festivities and comraderie.  Others flee.  (I’ve  done both:  Once forced to evacuate because we were in a floodzone, but every other time, we’ve stayed  to savor  forced  computer -abstinance, no  AC or  electricity…  as we hunker down and relish  pre… and post… hurricane parties … tepid beverages, and barbeques, and spit baths,  pooside!)

Many ”Miamians” have  lived in the same home and  same neighborhood for years or decades, with no  hurricane protection (ever!)  and  no damage  (ever!).  Eventually,  a few of those iconic homes actually go up for sale.  You MAY stumble across one … fall in love… and decide to buy!

Yes, you CAN buy a home with NO  hurricane shutters AND  yes, you CAN get insurance on it.  You’ll just have to bring the house into compliance in just under 2 months… if Citizens is the carrier…  or… you can opt to pay  higher premiums…  use an alternate  carrier…  and keep up the ‘tradition’ before you.   There ARE CARRIERS  who will cover a house valued at up to $1,000,000.00  with  NO  shutters …  and  NO obligation to install them…. for  a higher premium.   The Restivo Team at EWM Realtors ( 305) 793-1365 or 632-0164 will give you the resources, and  spell out the options.   There are ALWAYS options.   Call us.  We’ll help.  Together, we’ll find you just the right house …   MiamiRealEstateCafe.com  Contact Us with any questions.  We’ll  respond (and may well blog about it  too… because if you’ve got a question, chance are,  someone else will have one too!).  Buying/ Selling?  Contact me.

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Love at first sight?   As Realtors, we work with a myriad of foreign buyers.  Many foreign investors are drawn to Miami, as much for the  location and weather as for the laid-back lifestyle, reputation and romantic allure. 

Our buyers  come from Italy, Germany, Spain, Brazil, England…    looking       for exactly the same thing:         a  home in the tropics … a bit   of Miami …  ”Un Posto al Sole!” …  a taste of paradise.  They fall     in love, often,   before they even  set foot   here.  Miami has an aura…  a reputation.  Miami is      truly magic.   Miami          HAS  the stuff that     dreams are made of. 

Buyers want waterfront    homes, and waterview    condos, at great prices, in perfect condition, and  in very, very specific areas.   Brickell and Miami Beach  and the Venetian Causeway seem to be the front-runners, the hottest destinations for  international buyers,  observe international real estate experts, Vicki and Alexandra Restivo at EWM Realtors, Miami.

“Coming from a world rich in history, the veritable lack of history that Miami offers is  almost magnetic, drawing foreign buyers in,  in droves.  They  embrace  the ‘new’ with a fervor that doesn’t seem to be found elsewhere.  What is it about our  ultra modern highrise condos?   They seem to offer something  that appeals on almost every level imaginable:  Floor to ceiling glass (impact resistant, hurricane glass) with an intrinsic sense of safety…  Concierge for every whim and fancy… Valet Parking… Lunch “on-the-run”  ( the famed American sandwich)… breakfast, wi-fi and a  laptop  (otherwise  known as a stop at Starbucks!) …  and the all important proximity to the beach.  After all, Miami  IS, the epitome of the eternal vacation.  Salt water and yachts… No  mountains …   The sweltering sun and  tropical romance  are intoxicating:  The people watching  and seemingly endless nightlife are addicting.  So… what exactly is it about Miami that makes it such a foreign affair?”

 ”Word of mouth”…   A comment between friends.  A secret, a shared story, a dream or two.   A guest coming to visit.  Vicki Restivo  enjoys working with the foreign investors:  ”I must say, the foreign buyers’ enthusiasm is catching… isn’t it? Working with international buyers is a whirlwind:  translating not only contracts, but conversations:  for interior decorators, furniture suppliers, marble and tile designers, car dealers, and legal advisors. It puts  a whole new spin on real estate.  Miami is unquestionably a foreign affair…  with Miami being  a “melting pot” in the very best sense of the term!” … and…the Restivos welcome your thoughts and insights on their Blog:  MiamiRealEstateCafe.com !  For international relocations or vacation property acquisitions, contact Vicki  at 305 793 1365 or Alexandra at 305 632-0164… or through restivo.v@ewm.com.  Again, your comments are always welcomed!

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Out-of area appraisers are the name of the game in Miami these days.  How do these appraisals affect  property sales? Do out-of-area appraisers actually have adequate knowledge about neighborhoods they are covering?  How do they come up with accurate appraised values? What about school boundaries/ratings/or projected plans? What about local market nuances?  Do they have the necessary, pertinent information for determining neighborhood property values? 

As reported in the Wall Street Journal, August 18th: “Squeezed by a drop in fees, some appraisers are compensating by driving long distances to handle more assignments. Their wanderings are raising questions about whether they know enough about the neighborhoods to accurately assess the value of homes—which has implications for both home buyers and owners.”   For the full Wall Street Journal article, “Reappraising Home Appraisers” written by James R. Hagerty… click here.

Brian L. Frank for The Wall Street Journal

Hagerty goes on to say:  ”Appraisers like Evie Salazar     are traveling far afield to find work. In June, Evie Salazar traveled about 75 miles from    her office to do an appraisal. Usually, Ms. Salazar says, she tries to work within about 40 miles of her home, but business was slow at the time she accepted that job.” “You do what you’ve got to do at times to feed the family and pay the bills.”

‘Desk top’ appraisal reviews are fairly common these days, not to mention ‘drive by appraisals’. Lenders are now outsourcing appraisals at fees substantially below what  lenders normally pay, and I must say, I have to wonder what the long term affects of this outsourcing might be. 

Realtors and loan officers, more often than not, have no say whatsoever in selecting an appraiser. In Miami, appraisers are coming from as far as 50-75 miles away, which concerns me. It takes me back to the question, “Does an out-of-area appraiser have sufficient knowledge about the area they’re sent to cover?” 

I prepare a Comparative Market Analysis (for myself, my buyers/sellers) and I make it available to the appraiser as well.  Often it’s helpful, particularly if the appraiser  is less than familiar with the local area. 

Whether buying or selling,  use a Realtor… a good one!  Much goes on behind the scenes (from the moment the offer is written, all the way to closing)!  Avoid your deal turning into the dreaded ”deal breaker”… Work with a really, really, really good Realtor and make sure your sale actually ”goes through”.  It’s not enough to sit by the sidelines and cross your fingers.   Getting a buyer is just step one.   Getting to the closing table… walking away with keys and title… is the finish line.  For more information on buying and selling property in South Florida, visit  Blog and Website MiamiRealEstateCafe.com

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HGTV is a household word these days,  impacting how we stage houses and show property …  and ultimately how we buy and sell homes.   David Bromstad’s  HGTV show  “Color Splash“  reaches homeowners all across the United States, as well as  abroad,  and has certainly infused Miami sellers with  ‘courage’ !   Courage  to create palette…  Courage to branch out from the more traditional, muted, subtle colors of the past… Courage to dabble in bright and vibrant colors that whisper  … or scream…  ”Miami”.   

In his  HGTV program, Color Splash,  David Bromstad  serves up  style and color…  dishing out  professional  ’permission’ to add flair and spark up those interior spaces.  From struggling artist to TV star, Miami’s David Bromstad has opened the artistic floodgates for South Florida .     Debbie Arrington  of the Sacramento Bee  offers  a peak  in her article above.

Romero Brito colors, tropical flair, novelty looks… Miami Real Estateoffers a canvas for the creative, the adventuresome, and the avant garde!   Miami is spicing it up!

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There’s a new way to store your wine….A modern approach to a wine cellar, this alternative is visually stunning and very creative. Glass doors are in the kitchen floor and a spiral staircase takes you down below. As you make your way below, your bottles of wine are safely stored along the walls of the cellar. Anyone up for a little remodeling…here’s an idea for you!

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The buzz  IN THE NEWS  over the past couple of days:  

South Florida MAY have already seen the BOTTOM of the REAL ESTATE MARKET! 

 The  Real Estate market may now, finally,  be headed upward… At the very least it appears that we are somehow stopping the bleeding!  

Good news nationally!  The US economy may be on it’s way toward a modest recovery.  Housing signals point our way out of the recession. Great news for Miami!  

With new housing sales spiking 11% nationally in June … (the biggest gain since 2000)…  that also marks the largest margin in  9 years!  The National Association of Realtors (NAR)  reports that price declines are slowing,  and that existing home sales rose  by  3.6%   in June.

  CNNMoney.com reports that the June new housing  sales jump may fuel the way out of this recession.  

The glut of overdevelopment has unquestionably  been concentrated in Florida, California, Las Vegas.   Has the housing market  indeed just  ’bottomed out’?  If so, we will  likely start to see sellers and builders less willing to make concessions.   The  housing market  traditionally drives the economy (and  until recently…  it has been driving it down).  News that we may have already touched bottom is indeed welcome!  Encouraging not only for Florida and California, but globally!   The housing market plopped  us into this recession.  Spiking sales of new homes in June may have  just marked the turning point… and …may have already begun pulling us out of the recession!

Fact is… the only REAL way we will know  WHEN we’ve hit  bottom, is with the benefit of hindsight… and only after the tide has turned.   Perhaps it has!

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