How do you, the seller,  determine the true market value of the house you’re wanting to sell?  What the seller wants or needs is not the  determining factor for pricing the house.  Market value,  recent sales in the neighborhood, and homes competing with yours for buyers  each contribute to determining your selling price! 

A professional Real Estate Agent can provide you with  a Comparative Market Analysis (CMA) on your house, using recent  sales and currently listed properties in your area.  If you are  looking to sell, we will prepare a CMA  for you …  no charge ….  no obligation to list or sell with us.  By pulling recent relevant sales, we  can give you a market overview, and help you decide whether this is the right time for you to sell, or not.  If  there’s a win-win for all parties, we’d love to sell yours!   Just give us a call, at 305-793-1365  –  The Restivo Team at Esslinger Wooten Maxwell Realtors. Or drop us an email if you’d like to know the current market value of your home,  based on relevant sales in the area!

The Cloisters: Located in Coconut Grove, this gated community features 40 private villas. Each villa has three floors and offers 4,500-7,900 square feet of living space and private elevators. Each villa has 3-5 bedrooms, 2 car garages, and a rooftop terrace overlooking fabulous views of the bay, ocean and city. The Cloisters community offers residents a pool, clubhouse and tennis court.

Gables by the Sea: Located in Coral Gables, this prestigious community has much to offer. Residents enjoy luxurious estates and channels/waterways with ocean access. The community boasts a playground, basketball and tennis courts as well as 24 hour security patrol and guard house. True to its name, life revolves around the sea, with sailing, water skiing, and scuba diving as year round activities. Gables by the Sea offers luxury living in a tranquil coastal setting.

CocoPlum: Residents of this luxury gated community enjoy waterfront living with views or proximity to the ocean.  This exclusive area located in Coral Gables features a guardhouse, 24 hour security patrol, a clubhouse, tennis courts, and a playground. For boaters, Coco Plum features a dockmaster and a full service marina.

Deering Bay Estates: An exclusive Coral Gables community with luxury estates, condos and townhomes. Deering Bay features a Yacht and Country Club, a world class golf course and marinas with dockage space for boats up to 120 feet in length. Residents and visitors alike may join the Club and enjoy tennis, the yacht club and golf.

Grove Isle: Located in Coconut Grove, Grove Isle is a private gated island set in Biscayne Bay. Condos provide amenities such as a sauna, heated pool and marina. The sports club offers residents tennis, pools, the beach and a fitness center. The Grove Isle Hotel and Spa offers visitors access to the marina, swimming pool and the beach.

The Moorings: An exclusive gated community in the heart of Coconut Grove, the Moorings is a beautiful enclave of about 40 Mediterranean style homes. Located just off Main Highway, this community provides 24 hour security.

Hammock Oaks: Just off Old Cutler Road, Hammock Oaks is a private and gated community. It has 107 homes and provides access to Biscayne Bay. There is a small marina with one bridge to the Bay.

Hammock Lakes: A private community located in Coral Gables and expected to be gated in the near future. Hammock Lakes is centered around the lake and features luxury properties situated along the secluded winding roads that make up this area, and along the natural preserve adjacent.

Tahiti Beach: The ultimate in exclusive luxury living. Tahiti Beach features 29 estates situated on a natural reserve and boasts gorgeous Bay and ocean views. Residents of this private enclave enjoy a park, a beach and a tennis club. A quick drive through Coco Plum then you have arrived at the guard gate (with an armed guard!)

Gables Estates: Located in Coral Gables, this community has 192 waterfront luxury estates. Residents must purchase a membership in the Gables Estates Club which offers a yacht club. Originally designed in the 1960’s by Arthur Vining Davis, the area provides access to Biscayne Bay.

Journey’s End: In the heart of Coral Gables, this prestigious gated community is situated on a natural hammock. It is made up of 18 estates and offers 24 hour security, tennis courts and a marina with private boat docks.

Old Cutler Bay: This gated waterfront community is located near Matheson Hammock Park and Marina and Fairchild Tropical Gardens. Old Cutler Bay features 24 hour roving security and guard gate and with 136 homes situated among lush banyan trees. Many of these luxury homes come equipped with backyard dock space for an easy ride out to Biscayne Bay.

Snapper Creek Lakes: Originally developed in the early 1950’s by Arthur Vining Davis, this area is a development of 124 homes situated amongst lush tropical hammock. Residents enjoy a marina with a full time dockmaster, and the option of mooring in the water or in a dry shed. The marina provides a place to fuel and launch boats and has direct access to the waters of Biscayne Bay.

Smather’s Four Fillies Farm:  32 acres of hammocks and natural preserve donated by Frank Smather’s to The University of Miami.  Gated community is deed restricted to University of Miami faculty (A wide umbrella allows ‘faculty’ inclusion of adjunct professors, volunteer faculty, and medical affiliates.) Within the community are 30 residential homes built by Breakstone, with a community pool and tennis court and 20 acres of open grounds, walking trails and tranquility.

Looking to move to Miami?   Give me a call at 305-793-1365 … or drop me a note.  I’d love to help.  The Restivo Team, EWM REALTORS …   Buying or selling real estate… We can help.  MiamiRealEstateCafe Your website preview of  Miami.

I OFTEN HEAR REALTORS SAY:  ”RE-PAINT THE HOUSE TO MAKE IT MORE  ”NEUTRAL” and  MORE APPEALING TO BUYERS.” 

THERE’S A CERTAIN DEGREE OF VALIDITY TO THAT ” BLANK CANVAS”  THEORY …  BUT   … WILL  BUYERS  ACTUALLY REMEMBER YOUR  HOUSE … OR WILL IT BLEND INTO  UNMEMORABLE SAMENESS?  Here are Five ways to Make  Buyers Remember Your House!

FIVE  LITTLE  TIPS:  ”MAKE  BUYERS REMEMBER YOUR HOUSE”: 

IN THE MASTER…

1) PLACE A BASKET AT THE EDGE OF THE TUB…   FILLED WITH ROLLED-UP TOWELLS, CANDLES, AND BATH SALTS. LUXURIOUS THROW PILLOWS.  Create a SPA feel.

2) HANG A THOUGHT PROVOKING NIGHTIE… with store tags attached… on the closet door.

3) SET A TRAY … WITH TWO COFFEE CUPS,  CHEERFUL CLOTH NAPKINS  and a  SEASHELL …  on the foot of the bed.

IN THE KITCHEN…

4) TWO EMPTY WINE GLASSES…  a  nice BOTTLE OF WINE and a HANDWRITTEN NOTE:  ”8:00pm is Just Perfect“  …  FRESH FLOWERS…. on a tray on the counter.

ON THE PATIO…

5) CHAISE  LOUNGE (OR ADIRONDACK CHAIR)  AND A SIDETABLE…  “TRAVEL GUIDE” or GOURMET MAGAZINE (OPEN, and FACE DOWN)… TWO COLORFUL PLASTIC GLASSES.

PROSPECTIVE BUYERS WILL REMEMBER YOUR HOUSE!    THINKING ABOUT SELLING?  PLEASE CALL ME .  305-793-1365 OR SEND ME A NOTE HERE.

Directions:  US 1  to  SW 136 St (turn west… past  the Falls Shopping Center). Turn (south) at SW 92 Ave (corner of Macy’s). Turn right (north) at SW 92 Court … and follow the curve.

Not again!   Pricing your house for sale at $763,247.00?  

WHY?   What did you have for breakfast ?  

Who thought up that bit of nonsense?  Who on earth suggested  listing your home for a price NO ONE CAN REMEMBER?  They should be hung out to dry!   Seriously, what market segment  were you afraid of “missing out” on?  

While I can understand pricing a house at $799,000… I think that to is often a  MISTAKE .  Think about who you’re selling to.  $799,000  is the TOP of a  $750,000 to $800,000  search…. and  $799,000 makes you invisible to anyone looking above $800,000.   INSTEAD OF SLICING YOUR BUYER POOL IN HALF …   DOUBLE IT.   How?  Priced at $800,000  you’re at the top of one search group ($750,000-$800,000)  and at the bottom of another($800-850) … where you’ll be perceived as having MORE VALUE.    

At $799,000  you’re  the MOST EXPENSIVE HOME in one search , but you are INVISIBLE to someone looking above $800,000.  Position yourself to take advantage of BOTH SEARCH GROUPS:  The “perception of value” may well grab you a buyer wanting an $850,000 house… and who sees  enormous “value” in yours. 

The name of the game is maximizing your visibility. 

So, getting back to that $724,542.00  listing price ( or was it $763,247.00 ?) … Who can remember?    Not remembering  ‘price’ diminishes value…. especially if your buyer ‘remembers’ a lower figure .  

WHY confuse the heck out of everyone? I’m not a fan of the   ’dollar under’ theory… nor of  “hard-to-remember-pricing”.  Most buyers “search”  for property’ in a range… clearly understanding that in the vast majority of home sales, there’s at least the potential for “some” negotiation.  Keep it simple:  The more visibility… the better.

E-LAKE …  A True Miami Lifestyle…  ON VACATION … Living In Your Own  RESORT  Home!

 This private oasis is nestled on a quiet side street,  abutting  Miami’s highly desirable recreational and motorized  freshwater  E-Lake.  The 76 acre Miami lakefront community is home to residents who rarely relinquish their claim to the lakefront!   Here’s a contemporary home – 13724 SW 92 Court, Miami, Florida  33176 -  renovated and modern, with high ceilings, a truly breathtaking ”great room”, modern European kitchen overlooking the lake, dual stairwells, a wine cellar,  indoor black granite spa with lake views, private dock with electric boat lift, private beach, and a beachfront outdoor covered summer-kitchen. 

Jennings-built homes have dotted the lakefront since the 1960’s -  originally selling  for $15K – $20K in the 1960’s and 1970’s. Today the lots alone ( and  knock-downs)  sell for more than a million!  And updated and expanded and renovated homes run well above $2 million.  13724 SW 92 Court is listed at $2,249,000…. one of Christie’s Great Estates listed by Pam Mayers, Vicki and Alexandra Restivo of EWM Realtors in Miami.

Wave runners, sailboats, ski boats, rafts, wake boarders… private sandy beaches… E Lake’s water  quality  is tested monthly  -  as it has been for over 30 years  now -  and  the results repeatedly come back as being among the highest water quality throughout  Florida.  

You’ll come home… to vacation!  Contemporary home… with a peaceful,  ZEN feel…

13724 SW 92 Ct on E-Lake has a private dock with an electric boat lift…  private beach…. outdoor summer kitchen… breezy second floor outdoor terrace… 2 two-story covered patios …  and spectacular sunsets.  Off the master, you have a private, indoor black granite spa overlooking the lake front.

E-Lake affords  an active-lifestyle for the sports-oriented, and a laid-back lifestyle for anyone wanting resort-style tranquility. 

Curl up in a hammock with a book.  Enjoy a leisurely bar-b-que.  Watch the sunset … Linger on the beach, or boat.  Enjoy the privacy … or … the comforting sense of community.  Living on the lake affords an outdoor, active lifestyle unique to this particular area of Miami…  a peaceful retreat where you can savor your spare time.

A lake as your backyard!  Most residents have boats, waverunners, jet skis…. There’s a strong  sense of community, and while “rules” are few and far between on the lake, there’s a refreshing sense of caring and respect shared by those who reside on E-Lake. There is NO Homeowners Association, apart from a voluntary  one, which collects an annual (voluntary) contribution of $150 toward testing and treating the water. What there is on E-Lake,  is a common thread… a lifestyle that revolves around the outdoors…  “good neighbors” ..  “good fun”…. and “quality of life”.

 A little history on E Lake:    In the early 1920’s Henry Flagler  bought the land around E Lake  as a rock quarry… for the coral rock, limestone (also known as oolite)   needed to build his railroad.   The rock was crushed to form  the bed of the tracks, and  used in making the cement for necessary bridges and other structures. Flagler’s railroad was to go from Miami all the way down to Key West.  Because of the aquifer and Miami’s unique water table, the quarry began to fill with water. In spite of concerted efforts, the digging apparatus couldn’t contend with the infiltration of water… eventually causing excavation to cease.  By the 1940’s  a fresh water lake filled in the rock quarry, and  when seen from above, the lake looks like  the letter “E”.  The largest of the fingers is to the north, with the depth ranging  from 35 ft on the east  to  over 60 ft on the west side.   E-Lake Community extends between SW 136th Street  and SW 144th Street (on the north and south), and from SW 92 Avenue over to SW 97 Avenue (on the east and west).

By the way, the (historic) Venetian Pool in Coral Gables, had it’s origins (as did E-Lake)  as a rock quarry that filled with water from Miami’s natural underground spring / aquifer. The Venetian Pool ( a few miles to the north of E-Lake)  became an elegant public swimming hole for local Gables residents.

E-Lake, on the other hand, remains private… for the sole use of the homeowners who reside there.

By the 1960’s two developers began building homes on the land immediately surrounding E-Lake.   F & R  Builders and Jennings were the two prominent builders and many of their homes are still right where they built them.  Jennings homes are known for the scalloped edges in the closets, and their solid construction… enabling Jennings homes  throughout South Florida to withstand hurricanes in the days when  shutters or impact windows were the name of the game. Today,  many of the original Jennings homes on E-Lake have been added to, enlarged or remodeled.  Nevertheless,those homes that originally sold for $15,000.00-$20,ooo.00  occupy lots  today that themselves are valued at over a million dollars.  

Real estate has long been a wise investment!  There are certainly market ups and downs, but in the long run, real estate (especially water front property) often appreciates nicely. 

  Homes are not often available on E-Lake.   If you have an interest in E-Lake, contact The Restivo Team at EWM Realtors  (305) 793-1365.    The Restivo Team just SOLD 9200 SW 140 St on E Lake for  $915,000 (a beautifully updated, original Jennings-built home  – 4 bedrooms and 2 baths)…. and JUST LISTED a stunning, contemporary 2 story home on E-Lake for $2,249,000 ( 6 bedrooms and 4.5 baths on the big finger of the lake)  13724 SW 92 Ct.  Miami, Florida 33176    www.MiamiRealEstateCafe.com

E-Lake Community … a lifestyle worth exploring!   Considering living on E-Lake?  Call or contact us here for more information 305-793-1365  EWM Realtors, Miami.

Sellers undertaking the ”FOR-SALE -BY OWNER”  challenge (FSBO)  …thinking it can’t be all that hard… are in good company.

How many times have  I heard:   “WITH THE INTERNET NOW, I CAN LIST IT ONLINE and I DO OPEN HOUSES… so…HOW HARD CAN IT BE?”   Actually, less than 5% of all real estate sales actually end up selling without a Realtor involved… and most FOR SALE BY OWNERS end up selling through a Realtor.

Attracting REAL buyers can be challenging enough,  but finding a qualified buyer is a whole other ball of wax.  If you think  running an ad in the paper, putting up an open house sign and holding open houses will do the trick,  you are certainly NOT ALONE.   (Most people , including many Realtors, would agree.)  Ads and open houses  attract  a variety of people:  the curious, the neighbors, the lookers, and YES the buyers too… but not necessarily “qualified buyers”  or “buyers in your price range” or even “buyers interested in what your house has to offer”. 

HOW CAN I SELL MY HOUSE?   Realtors use marketing strategies to attract the right buyers to the right properties. Through the Internet, web sites,  their sphere of influence, the MLS, Realtor.com, Trulia, to name but a few,  they connect with buyers who would specifically be looking for your house, and  pre-qualify them before traipsing them through your house.

WHAT ABOUT THE SALES CONTRACT?Attracting the right buyer is a small part of the puzzle.  Contracts are often  intricate and complex, containing specified terms, deadlines, addendums and obligations on the part of each party. Good faith deposits are at risk if deadlines are not respected. There are specific disclosures and responsibilities on the part of both buyer and seller. 

WHAT ARE YOUR OBLIGATIONS AS A SELLER?  … Obligations with regard to disclosures and legal issues?  What about lead based paint?  If your house was built before 1978 you need to supply the buyer with specific information and disclosures.  What are the time-frames and deadlines  for inspections, loan application,  homeowner or condo association requirements, surveys, appraisals, title evidence?  What are the risks and repercussions for not complying  or not adhering to the time-frames?  Who is responsible for overseeing the process?  

WHAT ELSE DO YOU NEED TO KNOW?  Should your sale  be  ’as is’… or are you, as  the seller,  willing to repair and subsidize deficiencies and repairs cited in the inspection reports?  Who should do the inspections?  Who is responsible for the repairs? What about Radon Gas? Mold?  Insurance?  A survey? Title? Are you in a flood zone? Special windstorm insurance needed? Is there anything you are required to divulge about the condition of the house,  pre-existing conditions or past repairs?  What happens if there’s a problem?  What happens if there’s a hiccup? Who needs an attorney?

YOU WANT TO SAVE THE COMMISSION?   SOME THINGS ARE BEST LEFT TO THE PROFESSIONALS! Contracts and closings can be veritable quagmires.  Ever seen HGTV’s “Do It YOURSELF Home Make-Overs?”  A lesson in leaving it to the professionals. Penny-wise and Pound-foolish?  If you’re selling, get a good Realtor!  Not just any Realtor.  A good one.  Save yourself the headaches.

IF YOU’RE  THE BUYER… buying from a FSBO? If you’re buying from a FSBO, here’s my suggestion:  Use your own agent… a buyer’s agent…. who can navigate  and streamline the process, making certain it’s all handled properly and that you’re represented properly. You will likely save not only the headaches, but come out ahead in the long run.

Using a professional Realtor can make a world of difference,  the difference between getting the house (or, if you’re the seller: getting the house sold)… or not.  If you’re looking to buy or sell real estate, and would like the help of a professional real estate consultant, please give me a call or send me a note here.

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.

The supply and demand ratio drives the real estate market, and determines prices.  Homes sell if  there are buyers.   Homes sell for what buyers are willing to pay for them.   10 homes for sale …  1 buyer ?  Guess who determines the price?  That 1 buyer will determine not only price but also which will (and won’t) sell.  Pricing your house HIGH  (when there’s a handful of similar properties to chose from) means  ‘your’  buyer will have  other homes to chose from.  Likely, that buyer will opt for the best value within their price range. The more  inventory there is,  the more competitive  pricing needs to be.  As inventory increases, prices drop.   Your house will sell if yours is comparable or superior to the others, and if your price is compelling.   Fewer  ‘comparable’ homes  (to yours)… means a  higher potential sales price for you.  Pricing and selling are linked with supply and demand.   If you are wondering about selling now, versus waiting, please call me at 305-793-1365, or send me a note here .  I’m happy to talk with you, or meet and consult with you.   Together we can evaluate whether now is (or isn’t)  a good time for you to sell… and whether waiting might be a better option.

Are You Eligible?

If you purchase a primary residence between now and April 30, 2010, you are eligible. If you (and your spouse if applicable) haven’t owned a primary residence in a 3-year period before the current purchase, you qualify as a first time home buyer. Last November, it was decided that buyers who have lived in their primary home for 5 of the last 8 years also qualify for the credit.

How It Works

The credit directly reduces the total amount of taxes you owe. When filing your taxes for the year of your home purchase, you will subtract the amount of the Federal income tax liability. In doing so, you increase the size of your refund or reduce the amount you owe.

Funds At Closing

The Department of Housing and Urban Development created guidelines for FHA lenders that allow them to make the credit available to buyers to cover closing cosrs or a down payment above 3.5% required for an FHA insured loan. Meaning the credit can be available at closing no matter where you’re purchasing, as long as your lender participates in the program. Check with your lender to make sure they are on board.

How Big Is The Credit?

The tax credit is equal to 10% of the purchase price of your home up to $8,000 for first time buyers and up to $6,500 for most other buyers. A full credit is available for single individuals whose adjusted gross income is less than $125,000, and $225,000 for married couples filing jointly.

Other Provisions

The purchase price of the home may not exceed $800,000. If you sell your home within 3 years of the purchase, the entire amount of the credit is recaptured (the government takes it back). You cannot clain both the DC and the national First time Homebuyer Tax Credit. Purcahses by  non-resident aliens are not eligible. The house must be under contract by April 30, 2010 and must close by June 30, 2010.

Take advantage of this phenomenal opportunity to purchase a home. Contact me with any questions or to get started on finding the right home for you!