Week of September 3, 2009 "Good morning, children. In civics class today we'll be talking about how Miami-Dade government really works. Do you know what the county does?" "My daddy says the county doesn't do anything good, Miss Jones." "That's not exactly right, Henry. The county tries to give us things we really need." "Like what, Miss Jones?" "Well, today at our airport it's trying to bring us not only horseracing for your parents to bet on but also lots of shiny slot machines that...Continue Reading!
Archive for September, 2009
Situación del mercado de condos a la venta en Aventura, Florida Today I would like to share with you some technical terms that we use when we analyze the situation of the market: Absorption Rate: I like this tool, it is very useful to help us understand the Aventura condo market. It is the time it takes to sell the current inventory at the present rate of sales. Absorption rate for The Point Condos: 3.92 p/month. This means that on average 4 listings are selling every...Continue Reading!
Davie will hold a budget meeting on Tuesday, September 8th at 5:15 p.m. at the Davie Town Hall located at 6591 Orange Drive, Davie, FL. Many important topics will be presented and discussed by the Mayor and Council Members. One of the topics involves the Davie Police Department and possible layoffs. Susana Franklin, head of the Forest Ridge Crime Watch organization, has been circulating a petition to Forest Ridge Residents in regard to the preservation of police officers throughout our community...Continue Reading!
6 of my 27 listings here in Coconut Grove are currently under contract. Of those, 2 are short sales that are still being negotiated with the bank. 4 are real sales, meaning non-distressed sellers and non-investors coming together. Here is a recap: 3812 Park Avenue: Listed at $699,000. This is a 21,600 square foot lot in South Coconut Grove. Once I received the listing, I called several agents who I knew had clients looking for large lots to build. We were lucky...Continue Reading!
One of my favorite places to shop and/or hang out on Hollywood Beach is Josh's. Apparently I am not alone, or even one of a small community group. Our 'group' is about to get larger, as Josh's is being featured in the traditional media, namely CBS 4 News in the "Good for You" segment at 6pm on Friday, September 4th. According to the Hollywood CRA, the 3-5 minute segment will "highlight the extraordinary story of Hollywood Beach's popular weekly farmer's market and...Continue Reading!
One of the really popular areas to live the past 1/4 century has been the High Pines/ Ponce Davis section. The original development of the area came in the 50's and 60's due to its proximity to South Miami, Coral Gables and the downtown business area. This popularity resulted in rapid price increases and the building of "spec" homes. What has happened since the recession hit last year? Basically sales of expensive homes have stopped. There were 52 homes for...Continue Reading!
Still found in many South Florida homes from the 50's and 60's, terrazzo flooring consists in a hand poured mixture of concrete and marble chips that is then polished, buffed and in some cases crystallized. Due to the labor intensive nature of its installation, new terrazzo flooring is a rarity today and costs upwards of $27 per square foot. A great backdrop for mid-century modern decor and style, terrazzo floors are truly making a comeback. Ease of maintenance, cool surface and...Continue Reading!
Keeping my buyers and sellers informed, here are the pending sales in Coconut Grove for the past few weeks. It is not surprising that we only have a handful of properties to go under contract at the end of August/beginning of September. It is not a convenient time for buying a house for many people with summer coming to an end and school starting up. I had the listing on Virginia Street, we priced it right and had an offer submitted prior...Continue Reading!
As of Today 45 Properties Have Been Reported Closed in the MLS on August 2009. Type of Sale Closed Sales % of Closed Sales % of Active Listings Regular Sales 32 71% 63% Short Sales 9 20% 33% Foreclosures 4 9% 4% The Percentage of Short Sales has decreased only slightly, On April Short Sales Listings represented 35% of the Active Inventory. Foreclosures are still very low in Weston. When they are listed they sell very fast and with multiple offers. In our experience buyers are trying to avoid Short Sales as much as they can, the process even...Continue Reading!
The $8,000 first time homebuyers tax credit ends November 30th, 2009. If you are in the process of purchasing a home, new mortgage regulations have increased the amount of time it takes to close a home, up to 60 days in many cases. For more information how these regulations will affect your closing, click on this link: https://mail.ewm.com/OWA/redir.aspx?C=5b29e1cc12ff4bb79eb1cf21041d259b&URL=http%3a%2f%2fwww.fdic.gov%2fconsumers%2fconsumer%2fnews%2fcnsum09%2fnew_deal.htmlContinue Reading!