What Is My House Worth?

FOR A COMPARATIVE MARKET ANALYSIS (”CMA”) OF YOUR PROPERTY,  showing recently SOLD relevant properties,  as well as any currently FOR SALE ,  conact the Restivo Team at EWM REALTORS.

Curious as to what the value of your property is, and whether this would be the right time for you to sell?

For a no pressure market valuation, contact us through www.MiamiRealEstateCafe.com or 305 793 1365 or 305 632-1064.

READY TO SELL YOUR HOUSE NOW?   Considering listing your property  for sale?  All preliminary information is entirely confidential, and there is no pressure to sell with us.   We invite you begin the mutual evaluation process … just send us a note here.  We will determine together whether this might be the right time, and whether there is a ‘fit’.

CAN THE SELLER KEEP MY ESCROW DEPOSIT? 

ISN’T THAT EVERY BUYER’S WORST NIGHTMARE?  

The answer is “YES!” … to both questions!  

The seller can keep your deposit … if you fail to adhere to the time-frames and  the terms of the contract.  

My seller client just heard  from FREC (Florida Real Estate Commission): 

She was awarded the “buyers” full escrow deposit … and rightfully so!   Here’s why…The contractual terms and timeframes were not adhered to, and the buyer’s Realtor was basically incompetent:  “Failure  on the part of the buyer (and his Realtor!) to provide notice of inability to obtain financing within the loan commitment period resulted in the buyer’s loss of escrow money!”

My seller, Mrs. Estate, (no … that is not her real name!)  was packed, and ready to close and vacate… and sign over her house to the buyers… So what happened? 

ON THE BUYER’S SIDE:  The buyer did not qualify for a mortgage  …  but his Realtor did not relay that ‘complication’ on to the other  parties:  seller, seller’s attorney, or me.   His Realtor not disclose the  ’hiccup”…  and did not ask for an extension to the contract.  Buyer and Realtor ignored the scheduled closing date, waiting until after the scheduled-closing  passed before asking  about an extension.  That disregard to contractual terms resulted in the buyer losing his entire escrow deposit.

Can the seller keep the escrow deposit?  The answer is ‘yes’.   A seller can (and will) keep your escrow deposit , if you fail to perform, or  fail to adhere to the terms of the contract.   In an escrow dispute (where the Broker is holding escrow), FREC  determines which party is entitled to  the escrow deposit.

DON’T PUT YOUR ESCROW AT RISK.   WORK WITH A COMPETANT REALTOR.

As an alternative to foreclosure,  Fannie Mae will now (as of November 2009) allow homeowners (who qualify!) to remain in their homes,  renting,  as tenants… for a year.    Month by month extensions are an option (although not  guaranteed) after the first year. 

The government program is called “Deed For Lease“.  In exchange for transfering title over to Fannie Mae,  the  homeowner  (who under current guidelines does not qualify for loan modification) can stay in their home as a tenant. Make sense to move from renting to owning?

It’s a temporary ‘fix’ for homeowners hit hard by the current financial situation, and impacts the homeowner’s credit less than traditional foreclosure does.  This is an entirely new alternative to foreclosure.  Another alternative to foreclosure  is the  “Deed in Lieu“ as outlined by Alexandra Restivo in  MiamiRealEstateCafe (November, 2009).

“The City Beautiful” (literally and figuratively),  Coral Gables captures an elegance admired the world over.  Incorporated in 1925, the City of Coral Gables offers special incentives to architects, builders and developers whose designs are in keeping with George Merrick’s vision of a community steeped in Mediterranean style. Himself influenced by Deering’s creation of Villa Vizcaya, George Merrick envisioned creating a Spanish-influenced city within Miami, giving it shape, structure, and esthetic beauty.  Working with master craftsmen and city planners, Merrick began what would become one of the cultural gems of South Florida, Coral Gables .

Rich with culture, Coral Gables distinguishes herself through Mediterranean-revival style architecture.  Now more than ever, that urban core, from Miracle Mile to Merrick Park, bustles with ever-growing numbers of art galleries,  fine restaurants,  bookstores,  and shops. Increasingly more pedestrian,  with open air markets, street fairs, art shows, cultural and community happenings, Coral Gables is both hospitable and alluring. Trolley service is provided free of charge,  making the Gables all the more accessible and welcoming.

The Village of Merrick Park is renown for it’s designer stores and fine dining. Set around an open ‘Plaza’ the shops at Merrick Park have an air of elegance about them, and are very much in keeping, architecturally, with George Merrick’s vision.

The Biltmore Hotel, built in 1926, stands as a monument to Spanish-influenced Mediterranean architecture. Publicly owned (and privately leased from the City of Coral Gables) the Biltmore is a landmark of world-class renown. Spa, tennis, dining facilities, fitness center are open and available to local residents as well as registered guests. The golf course, home to PGA Tours, is also for public use.

Green spaces,  public parks, tennis facilities and golf courses abound. In addition to the Biltmore Golf Course, are Riviera and Granada as well.

Unique to Coral Gables is the Venetian Pool, with it’s cascading waterfalls, caves and grottos, sandy beach, and lushly landscaped grounds. Once a limestone quarry, the Venetian Pool  (since 1923) is a natural swimming hole, spring-fed with icy cold water from the underground aquifer. 820,000 gallons of water replenish the pool each day,  now utilizing a system of natural re-absorption, which returns the water to the underground water system so as not to deplete our natural resources. Undoubtedly one of the most spectacular swimming holes anywhere … the Venetian is the only swimming pool ever to be listed on the National Registry of Historic Places. Closed for renovation from September 2008 through April 2009, it is otherwise open year-round. Primarily for recreational use both pool and grounds lend themselves for use as special events.

Public parks, waterways, bike trails, recreational opportunites, boating, fishing and beaches, libraries, farmer’s markets, lakes, mangroves , educational programs…Fairchild Gardens, Deering Estate, Matheson Hammock…the list is endless, and there’s always something worth doing. The Gables is home to Matheson Hammock, a place full of boating, biking trails, beautiful views of Biscayne Bay and Red Fish Grill, an outdoor restaurant which takes full advantage of the ocean views.

Regardless as to location, whether in heart of the city or in the more residential neighborhoods, homes in the Gables run the gamut, from  understated to opulent. By Miami standards (or international, either one) Gables living is highly desirable, be it in single family homes, condos, or townhouses. City planners and landscape designers painted a canvas for a luxury lifestyle… million dollar homes, condos and townhomes on beautifully tree-lined streets…. incorporating plazas, water fountains and open green spaces. In part due to the presence of the  University of Miami,  Coral Gables exudes cultural diversity and intrigue… and  remains one of the most highly sought-after zip codes in the nation.

A beautiful city, full of  history… conceived by visionary George Merrick. Since it’s inception, the Gables continues to be one of the premiere places to live and work in South Florida. Famous landmarks such as the Biltmore  Hotel, and the Venetian Pool… coupled with world-class dining, shopping and lifestyle…  Coral Gables finds a balance between work and play,  meshing commercial and residential into a multifaceted and luxurious lifestyle.

If you are considering buying or selling real estate  in Coral Gables,  please give me a call at  (305)  793-1365  or send me a note here.

Open House from 1-5 PM  on  Sunday November 15

4 Bedroom / 2 Bath 

3,168 sq ft

Private Dock and Sandy beach

Koi Pond

Gorgeous Renovations

MUST SELL!!!

Vacant land is selling  between $17 and $21  dollars a square foot in Pinecrest.    Acre  lots can be had for under $750,000. .. and  15,000 square foot lots can occasionally be found for as little as $350,000 … although most tend to be listed for, and sell above that.

Perceived value drives price.   While quiet streets  appeal to a number of home buyers …  highly trafficked areas and  intersections can (and do) appeal to others.

Adjacent to Pinecrest Park on the corner of SW 82 and SW 124th is a vacant lot,  listed for sale by Victor Mills and Marie Montgomery.  It has already been cleared and is ready to build.   It’s priced at just under $14 a square foot ($650,000 for 43,560 square feet).

After a hiatus on building,  Pinecrest is now seeing and increase in new construction.  Much of what is being built is luxury building… the single family, high-end homes, on a  rather mega-scale.  With vacant land opportunities such that they are now, more builders and individual home owners are looking at the available land for sale in Pinecrest.

Please give me a call if I can help with any of your real estate needs.

I just stepped back in time …  into the oldest standing house in Coral Gables.   Built in 1899, this Gables house at 6810 Maynada Street in Coral Gables Florida  literally catapults you “back into history”.  (My daughter said it felt like being shot back  into the Civil War… The history of this house goes back to just before the turn of the century).  The main house gained historical designation  in 1978 . As the oldest standing house in Coral Gables (with two bedrooms and one bath)  it was ‘added to’ in 1966…  by way of a separate, detached carriage house …  (added with permits).  The carriage house serves as both  a garage, and as a separate ‘guest house’ …above the garage,  on the second floor… a one bedroom and one bath apartment.  I remember when the carriage house had no doors on the front…  and magnificent antique cars  visible from the curb that the owner tinkered with passionately… tools and treasures in full display, never to my knowledge locked or closed up. 

Unquestionably, this is a house for someone enamored of, and devoted to historic preservation.  It’s  listed for sale by Javier Gonzalez of Remax at $999,000, and is quite a  find… offering substance and character… and plenty of renovation projects for whomever the buyer might be.  It was featured in Gables Living Magazine, featured on TV,  and written about in books…  and the house has a rich history in many realms… and listed in the National Registry of Historic Places.  In  2007, 6810 Maynada Street was showcased on the Villager’s Tour of Homes…  decorated for the holidays.

The house is made from Dade County pine  (which is termite resistant)   and reason enought for the house  standing today… You’ll find Dade Country pine  in it’s frame, wood floors and front porch.   There’s a period fireplace (working wood burning fireplace) downstairs, and a pedistal footed tub upstairs. 

As an historic house, 6810 Maynada Street is, for the most part,  in very much it’s original condition … unaltered, unadulterated… other than a new roof which was installed in 2007.  This is definitely a house for a buyer looking for  historic preservation.  The  house is designated ” historic”, and as such  it cannot be torn down.  Improvements  will qualify  the buyer for an ad-valorem tax exemption.

I have a particularly soft spot for historic homes… and this one is a gem!    From the brick walk-way… from the street to the front porch…. the Dade County Pine… and the antiquity that’s (for Miami) major history… you can taste and smell and feel the history…  the moment you drive up … and even more once you step inside.

Considering selling or buying property in Miami?  Please give me a call, or contact me here.

 

South Beach is a priviledged destination, affectionately referred to as SoBe by the locals.   Occupying the southern-most 23 blocks of Miami Beach… from  1st Street ….  extending up as far as 23rd Street…. South Beach is a major tourist destination, with beautiful white sandy beaches, world class dining, nightclubs , oceanfront hotels, and a resort life “style”.  A  playground for anyone wanting  a  tropical, warm weather,  acquamarine-water beach-get-away,  Miami is home to an ever-changing international crowd   attracting millions of  tourists, year round,  who come to enjoy the comfortable way of life, vibrant nightlife,  trendy boutiques, shopping, multi-cultural  atmosphere, international cuisine, and sun, sand and water. 

Whatever your taste or budget, there is definitely something  here to fit your dreams.   Anything you are looking for, you will probably find it in Miami. 

South of Fifth, or  SoFi as it’s called locally,  is dubbed the ”Park Avenue of Miami Beach”.  SoFi consists of a five block span  extending from 1st Street to 5th Street …at the very bottom of the Island.  This  highly rated neighborhood offers respite and  resort-style living for residents and visitors….  as a vacation destination or as a place to live. Stroll along the beach and dine alfresco.   Some of the most expensive condos sit on waterfront lots on these southernmost five blocks of the beach (concierge services for every need or want, at the snap of a finger). Interspurced with the luxurious  highrise condos, there are a number of charming Art Deco reminders of what Miami was … not all that long ago, when South Beach was first developed … back in the 1910’s.   

Lincoln Road (at 17th Street)  is a popular pedestrian section of  South Beach … popular among both tourists and locals.  The immediate surrounding area is highly tauted by the international crowd wanting  to own a pied-a-terre within a  stone’s throw of literally everything…  There’s easy beach access, nightclubs, luxury hotels, boutique bed-and-breakfasts, waterfront condos, and Lincoln Road ( open to foot traffic only) … with it’s casual shopping, outdoor dining and people watching… a pedestrian haven packed with cafes and shops extending on for blocks. 

Despite being a resort destination and vacation hot-spot,  South Beach has an infrastructure that caters equally to both local residents and tourists.  ”Publix” Supermarkets have an in-store pharmacy, (seemingly unimportant until you need one!).  There is a brand new Publix on 5th St … where the causeway connects to Miami Beach from the mainland… easily recognizable , with a Romero Brito art piece welcoming you to Miami Beach.       

You can manage without a car (truly!),  in either SoBe or SoFi …  You’re within an arm’s reach of shops, beaches, restaurants and entertainment.  There’s a distinct  ’pedestrian feel’…  one of the qualities many buyers look for. 

Whatever you are looking for… whether it be a condominium or a single family home… a vacation hide-away or a magnificent  luxury waterfront villa with a private dock or helocopter pad , there’s something for every one and every budget…. and you will probably find whatever it is that you are wanting.  Please contact me here  if you’d like more information, or are considering buying or selling property on the beach.

The three ‘main’ streets,  Alton Road, Collins Avenue and Ocean Drive,  run the length of the island…. and each are just a few blocks from the waterfront.  Collins is where you’ll find some of the top design fashion boutiques and shops on Miami Beach.  Ocean Drive is known the world over,  with it’s outdoor restautants and cafes on one side of the road… and sand dunes, beach volleyball, roller blading, and the ocean (Miami Beach!) on the other side. 

Running the width of the island are the numbered streets, beginning at 1st street to the south, and moving to the higher numbered streets as you go north.  From 23rd Street south, the island is bustling, and the beaches are beautiful.  As you head north of 30th street, the pace slows down. It becomes more residential, with fewer stores and restaurants… but with equally beautiful  sandy beaches.

Millionaire’s Row with it’s high rise waterfront condominiums stretches along Collins Avenue,  from from 40th  Street  to 62nd Street.  Millionare’s Row is nestled between South Beach and North Beach…and  is home to some of the most luxurious waterfront property anywhere in South Florida.   Million-dollar yachts,  the intercoastal waterway, ocean front living with beautiful expanses of beach front make Millionaire’s Row one the most desirable locations anywhere in Miami.

Not only a popular snowbird and spring break destination,  Miami Beach is  also a weekend get-away for locals, and many locals own second homes on the island.  The real estate market in Miami Beach offers something for every pockebook, and every taste…. whether pied-a-terre or  absolutely extraordinary luxury oceanfront property.  Whatever it is that you are wanting, you will  find exactly what you’re looking for in Miami.  Please send me a note here, or give me a call at (305) 793-1365 or (305) 632-0164 if you’d like more information on Miami Beach or are interested in buying or selling real estate in Miami.

Not a bad track record…   Ugo Colombo’s highrises still rank among the very top of Miami’s most desirable condos.    

The Santa Maria, built in 1997,  as of right now, has list prices averaging  $702 / square foot in the MLS … despite foreclosures that are rampant throughout in Miami (and hitting  high-end condo owners hard).  That’s a mere $20 / square foot  drop in average asking price since the start of 2009.Current  pricing in Colombo’s Santa Maria  condos range  between $1 million and $7 million    ($488 – $1,103 / square foot).  That puts the average list price at $2,379,000… to own roughly 3,178 square feet of Miami airspace … in Brickell’s  Santa Maria.

Apart from the luxury and sheer quality and ’staying power’ of the Santa Maria itself,  individual interior finishes,  location and view, contribute to the expansive variation in offering/list  price.  Private dock space…  can … (and does)…  add considerable value.1643 Brickell Avenue, Miami, Florida 33129 …  The Santa Maria..

Neighbors and local residents are one of the BEST sources of information for area new-comers… and their pets!  A new Doggie Park  recently opened at Tropical Park (2 acre  dog park!) and Nancy Sanabria did a ‘test run”, and determined that Tropical Park’s Doggie Park was worth sharing:  She’s a great neighbor and friend…  passionate dog owner… so I am sharing her insights with anyone relocating to Miami … especially animal owners who might like to know about the newest addition to pet-friendly Miami:  Tropical Park’s  New Doggie Park .

“On Sunday there was a family birthday party… for a dog… and the lucky pet was wearing a tiara … Everyone ate cake!  It’s clean, and the people and pets are respectful, friendly and nice. The new two-acre dog playground is divided into two areas, one for larger dogs weighing over 35 pounds and another for smaller dogs weighing less than 35 pounds. Both have play equipment (a tire jump, window jump, king-of-the-hill ramp, dog walk, etc).  The dog park has dog comfort stations with doggy drinking fountains and water sprays, pooper scoopers to keep the areas clean, and a shade structure overlapping each side. The park has a  promenade… park benches overlooking the lake,  shade and flowering trees, and a common area for dog owners with water fountains and an informational kiosk.   A walkway connects all areas of the dog park, making it ADA accessible.”

The Miami-Dade Website is a good source of information on Dog Friendly Parks (which means leashed dogs are allowed), Dog Parks (where your pets can roam freely), and Dog Run Parks (again, for leashed pets). By the way, signage at each of the parks will tell you whether your pets need to be kept on a leash, or whether they can run free.  To go directly to the Miami Dade site (click here) … Check out  the PET RESOURCES link on MiamiRealEstateCafe.com or read on:

DOG FRIENDLY PARKS welcome dogs (on leashes)  and their owners,  and provide bag dispensers and trash recepticles (for clean up). In Miami-Dade there are currently 13 dog friendly parks, all  listed below.   You’ll need proof of registration and vaccination… from any state… for entry.

Actual DOG PARKS are specified fenced-off-areas within a larger park.  Many have equipment and furniture designed specifically for dogs to romp and play… along with plenty of shade, water fountains or  water features, an occasional lake, hosing stations, bags for clean-up, benches and drinking fountains for pet owners .

There are now FOUR MAIN DOG PARKS run by Miami Dade Parks & Recreation: