Florida was one of few states to show an increase in home sales, nationally home resales were down by 7%.  This is good news for home sellers as well as the real estate markets in both counties.  The median price of a home in Miami-Dade County has dropped to $205,600, which is 39% lower than in March 2007.  The average price of a condo in Miami-Dade County is down 43% to $151,000.  In Broward County, the average home sale is down 30% to $219,500 and median condo prices are down 40% to $82,100.  In the state, the average cost of a home is $141,300, down 30% from the year before and the median condo cost is $108,800, 37% less than the year before.

Hopefully this downward trend has hit bottom, which would mean that homeowners can expect to not lose more of their homes’ values, however, there are still a good number of foreclosures on the market, which means we will probably need at least a few more months before we know for sure.

Please click if you would like to read this article in its entirety at miamiherald.com.

How we found out about this strip of wonderfulness is that we made a short video of a beautifully designed condo residence with a view of . . . ta da . . .  OUR BEACH! See? There’s our red umbrellas.

Oh dear, we’ve been dreaming again. Well, honestly, can you blame us?  Admit it. If you lived in this unit, with its fabulous ocean views, you’d have thoughts of warm sand, gentle waves and pretty red beach umbrellas, too. Here’s the video that got us hooked in the first place.

Click here to view the embedded video.

We take great pleasure in awarding this fine home 4 DOORKNOBS!

Click the special doorknob below for square footage, price, building amenities and more.

If you like me are listing and or selling foreclosed properties, I would like to know the following:

1. How many properties do you have waiting for CU?
2. How many properties have offers that can’t be accepted because you are waiting for the CU?
3. The approximate the value of the inventory being affected by the CU ordinance?
4. The length of time it is taking to get the CU?
5. How much the average cost of the CU?
6. Is the company that is doing your CU authorized by the State of Florida to provide architectural or engineering services? (Look  for company license at https://www.myfloridalicense.com/wl11.asp )
7. Does the company that is doing your CU have Professional Liability Insurance (errors & omissions) in addition to Worker’s Comp and General Liability Insurance?
8. If you have already closed any transaction with CU in Miami-Dade County, who finally paid for the CU process? Seller or Buyer or both?

Please email me your responses to these questions. I was just interviewed by Channel 4 who is doing an investigative report on this new ordinance and this information would be of interest to property buyers and owners in our community. You can email your answers to ruiz.c@ewm.com . Please do so quickly as this report is going to air in about a week or two at most. It is up to those of us in the front line to measure the effect and cost of this new ordinance to our community.

Things You Need to Know about Chinese Drywall

When selling and buying real estate, either homes or condos in South Florida, there is nothing better than an informed buyer and seller.

Here in the area of Aventura, Sunny Isles and Hollywood we have heard too many stories about developers being in trouble because of the suspected use of Chinese Drywall.

Well,  I bet we are all worried if this poses a health threat to us, our families or pets. However,  the Division of Environmental Health has yet to determine it.

The DOH does not have the necessary resources to visit homes and collect material samples for analysis. And, unfortunately the most definitive method to date is finding a “made in China” marking on the back of the sheet of drywall.

For more answers to your questions you can always visit Floridas Health site.

There is now an Chinese/Defective Drywall Addendum that buyers should require to be included in the buyers/sellers contract. Buyer may choose to conduct a risk assessment or inspection for the presence of Chinese/defective drywall.

If you would like to receive more information I can email you the addendum and guide you through your purchase especially if the home or condo you are looking to buy has been built or updated after 2003.

Please, leave me a note and I will respond.

190 Isla Dorada Reduced to: $ 1,550,000

5 Bedroom, 4 full baths, 1 half bath

470 Costanera Reduced to: $ 4,650,000

Miami Beach Polo Games begin today at 20th and Ocean drive right on the beach. The official dates for the games are the 1-3 of May but practice and pre-games being today. Come out and enjoy the great weather. Hope to see you there!

Residents

Recycle Your

Household Hazardous Waste

&

Electronics

Sunday, May 17th, 2009

8:00AM – 3:00PM

Public Works Complex

2599 South Post Road

Bring all of your: Oil-Based/Latex-Based Paints, Used Oil, Nickel-Cadmium/Lead-Acid Batteries, Used Tires, Paint Thinners, Paint Strippers, Solvents, Pesticides, Insecticides, Fertilizers, Pool Chemicals, Oven and Drain Cleaners, Spot Removers, Furniture Polish, Mercury, and Automotive Fluids.

]]> http://blog.ewm.com/2009/04/29/weston-household-hazardous-waste-electronics-recycling/feed/ 0 http://mywestonblog.com/2009/04/29/if-want-to-sell-your-home-do-your-homework/ http://mywestonblog.com/2009/04/29/if-want-to-sell-your-home-do-your-homework/#comments Wed, 29 Apr 2009 19:05:52 +0000 Ines Garcia http://mywestonblog.com/2009/04/29/if-want-to-sell-your-home-do-your-homework/ Buying Your Home is Probably One Of The Most Important Financial Decisions You Will Ever Make, Selling It is Your Second…

If you are considering selling your home you should ask yourself :
What other options do I have?
Should I better rent it?
I owe more than what my property is worth? Should I wait until the market improves? Should I consider a Short Sale?
Should I live there for a few more years?

Defining your motivation is the key to a successful Real Estate Transaction. As much as possible, and I know it is hard, try to treat it as a Business decision. I am one of those who think our house is our “home” but when the time to sell comes you have to get emotionally detached to make sound decisions.

Once you make you mind and selling your home is the final decision, there are a few things you should keep in mind:

1. Do Your Research! Find the Right Real Estate Agent, How she/he should be?
-Knowledgeable, expert in the the area and able to accomplish a smooth transaction. Someone who will provide you timely information and able to help you price right your property.
-Realistically Positive, someone enthusiastic about the job at hand!
-A Good Communicator, Communication Skills are essential because there are at least 10 people directly involved in a Real Estate Transaction.
-A Good Marketer…who will give the maximum exposure to your property using the right marketing tools including a comprehensive online presence. Aware of what consumers are looking for, great Pictures are a must!
-A Good Negotiator you will look for your best interests and willing to help you reach your goals.
-Detailed Oriented, a Real Estate Transaction is loaded with details that need to be taken care of in a proactive manner. Any overlooked detail may delay the process or, in the worst case scenario, kill the deal.
-A Problem Solver, even the most perfect transaction might face some challenges (be prepared for that) and someone who can remain calm and look for win-win resolutions is a big asset.
Most importantly your agent must be someone you trust and respect!!!

2. Dress For Success! I am sure you will not go to a business meeting or a wedding party in your pajamas…well that applies to your home as well. Prepare your home for sale! De-clutter, Repair, Clean, Organize, Show it’s best face during every showing! I personally have the challenge to keep my home picture perfect 24-7 but the times when I have sold my own homes, stressing as it can be with everything else we have going on in our lives, I kept it as if my obsessive future mother-in-law is coming to inspect it. This is a very competitive market and the only thing that can be traded off is the price of a home when it doesn’t look at it’s best. A $ 500 repair/update can look like a $ 2,000 problem for a potential buyer.

3. Be Flexible and Open Minded! Remember every Buyer is looking for “a bargain” or “a deal”; regardless of the listed price you might receive low-ball offers. If you were buying… wouldn’t you be tempted to try getting a property for 20% less than actual market value?. Please don’t take it personally, don’t get insulted…just counter and see what happens. If your property is well priced and attractive chances are that you will get some reasonable offers.

4. Communicate with your agent! Share your ideas, concerns and mostly your expectations.

Selling your home is a team effort, YOU, YOUR FAMILY AND YOUR REAL ESTATE AGENT. Everyone has to be “in the same page”.

The other day I went to talk to a potential seller about listing their home.  It was so refreshing to speak with someone who is realistic about the value of their home.  There was none of the usual… “I have to get ”x” amount out of the house”, or “But I paid “x” amount for it” or “I can’t afford to sell it for less than “x”.

We as Realtors hear these comments all the time from sellers and it never ceases to amaze me that they don’t realize their needs have absolutely nothing to do with the value of their home.  The value is solely determined by what a buyer is willing to pay.   It is also determined nowadays by what an appraiser says the home’s value is worth.

Now that I got that off my chest, it is my opinion that in today’s market you need to price your house ahead of the market.  So often we see sellers come in with unrealistic asking prices and they have to constantly reduce reduce reduce as they chase the market down.   What I mean by “pricing your home ahead of the market” is that you should anticipate that prices are falling and price your house accordingly, as opposed to reacting to a falling market.  It is always better to act than react.

Price it so that it is attractive to as many buyers as possible and don’t worry about low ball offers coming in.  Most sellers right now believe that they have to price the house higher to combat low ball offers.  But what I have been seeing is that once sellers reduce the house to what is a realistic range, they sell for much closer to their asking price.  Once a house is priced attractively buyers fear that somebody else will come in and make a higher offer.

The key question right now for buyers  is where can they get the most value.  Remember that value is determined by what a buyer will pay, not what a seller needs.

MLS# M1303201

For Sale $1,299,000   For Lease $6,800

Website address – www.MorningsideHistoricSchafnerHouse.com

Images – Property Deatails - Contact Nancy

CAPRI SOUTH BEACH

My EWM Realtors colleague, Pablo Alfaro, and I just took the exclusive listing of the recently completed, luxurious development, Capri South Beach. Imagine taking in glorious panoramic views of the Miami Skyline and Biscayne Bay, the Intracoastal Waterway and the Atlantic Ocean while residing on two waterfront acres just steps away from Lincoln Road. I am describing Capri South Beach, the exclusive condominium comprised of two newly constructed buildings and one historic structure, secluded at the western most point of Miami Beach’s 16th Street on 500′ of water frontage. A true boutique development, the sixty-nine luxurious residences, private marina, fitness and spa facility, 24 hour security and valet make Capri South Beach the most desirable bayfront community on the island.

Ana Capri, the southern most building, is the smallest of the three, with only five units each occupying a floor.  With stunning views of the Miami Skyline to the west, entry to each unit is via private elevator. Each apartment offers 1,798 SF of living space with 3 bed and 2.5 bath.  The upper and lower penthouses closed in February 2009 for $2.379M and $2.362M respectively.

Marina Grande, the largest building, located in the center of the property, houses fifty-eight units, five per floor with the exception of the penthouse and ground floor levels. There are three penthouse units on the top floor, while the street level offers two Bay Lofts. A state-of-the-art gym and spa facility is located in Marina Grande.

Marina Piccola, the historic component of this project, was originally designed by Igor Polivetsky in the first half of the twentieth century. It  is the northern most point of Capri South Beach. Three floors make up this sixunit building. Also located in this area of the property is the private marina and bayside pool.

VIEW OF BISCAYNE BAY FROM CAPRI SOUTH BEACH