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Debra Wellins

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Market Trends Category

What are the Odds of Selling Your Home in Pinecrest?

If you're thinking of selling your home in Pinecrest, you're probably wondering what the likelihood of success will be.  There are some interesting trends. I looked at the data from the past six months to see what the odds of selling your home in Pinecrest are.  Clearly, if you are priced under $1 million, and have not overvalued your home, it will sell. The average home is taking about four months to sell in this price range and is selling at 95% sale price to list... Continue Reading >

Plenty of Pinecrest Homes for Sale but Slow to Sell

Debra Wellins There are plenty of single family Pinecrest homes currently on the market, 205 to be exact. The average list price is $2,354,283 or $411/SF.  But, there is a big discrepancy between the offered price and sale price. Since January this year, a total of 77 homes have sold with an average sale price of $1,245,886 or $305/SF. These homes were on the market an average of 141 days. Let's break it down by price range. Lux Market $2 Million and Up There were 12 sales between $2,058,000 -... Continue Reading >

Village of Pinecrest 2016 Annual Market Report

Debra Wellins                                           Jump in and enjoy my Village of Pinecrest 2016 Annual Market Report - the most comprehensive analysis of single-family home sales in Pinecrest. Sales data is divided into quadrants, with SW 112th Street representing the division between north and south and SW 67th Avenue representing the division between east and west. (See map below). Pinecrest 2016 Annual Market Report Pinecrest home sales in 2016 were quite interesting in comparison to 2015. Total number of sales of single family homes was down 9% (17 fewer homes sold in 2016). ... Continue Reading >

Pinecrest Home Sales 2015 – The Annual Report

                    Each year, I create a comprehensive market report that subdivides single-family home sales in the Village of Pinecrest into quadrants, with SW 112th Street representing the division between north and south and SW 67th Avenue representing the division between east and west. (See map below). These numbers reflect all sales listed in the MLS but not homes sold by owner. Pinecrest home sales in 2015 were slightly off from 2014. Total sales volume of single family homes was down $30 million or 10% in 2015. The average sale... Continue Reading >

In Demand – The Walkable Neighborhood

I'm flooded with buyers looking for homes in walkable communities.  Millennials, downsizing couples and people with disabilities are all in search of a unicorn - town homes, single-family homes and apartments within walking distance to a city center. Homeowners of all ages don't want to drive.  They want to walk into town, grab a bite to eat, throw back a few and shop or catch a movie.  It's a beautiful thing...log in a few walking miles and avoid parking hassles, costs and driving under the influence. But buyers also want... Continue Reading >

What Home Features do Miami Homebuyers Want in 2016?

The top 10 must-have items that will be major selling points for 2016 are: Contemporary Design or Mid-Century Modern Porcelain Flooring that Looks like Wood Granite Countertops Stainless-Steel Appliances Open-Floor Plan Walk-in Designed Closets Eat-in Chef's Kitchen with Wine Cooler and Pantries Impact French Doors and Windows for Maximum Natural Lighting En Suite Bedrooms Fireplace (yes - even in Miami) Lush Tropical Landscaping Pool Covered Patio Outdoor kitchen Two-Car Garage Oh yeah! We want it all. I'm an estate specialist in The Village of Pinecrest and your best source for news and information on Pinecrest real estate.  If you would like to schedule a buyer, seller or investor meeting, please... Continue Reading >

Q3 Hot Markets in the Village of Pinecrest

The luxury market in the Village of Pinecrest continues to thrive in the $1M to $1.4M price range.  Out of 30 single family home sales, almost half the sales were in this pocket.  The balance of sales fell between $1.5M and $2.9M. When comparing high-end sales for the third quarter of 2015 to 2014, the numbers are stable. However, sales under $1M have dropped by 24%.  The biggest change in comparing Q3 sales this year to last is in the $500K to $799K price range - off by 56%. The hot market, at 46% of... Continue Reading >

Pinecrest – 3rd Quarter Sales 2015

Single family home sales are steady and stable in the Village of Pinecrest.  The chart compares the third quarter of this year to third quarter sales in 2014 and there are a few surprises. The average luxury home sale price is up a mere 2% as is sales under a million at 2.5%.  The average sale price per square foot is up 6% in the lux market whereas home sales under a million have seen only a 3% increase. One surprising stat that has come out of Q3 sales is how... Continue Reading >

Are you an UHNW Individual?

Debra Wellins Who are they and do they want? For starters, these uber rich folks have at least $30 million in assets. They are ultra-high net worth indivuduals (UHNW) who buy the finest wines, watches, cars, yachts, jewelry and real esatate. In seeking safe investment diversification, they purchase second homes in foreign countries to gain citizenship or residency status. Acccording to a recent study, there are 211,275 UHNW individuals worldwide who collectively hold nearly $3 trillion (U.S dollars) in real estate assets.  Roughly 10 percent of their net worth is invested in real... Continue Reading >

Village of Pinecrest Acre Sales

Debra Wellins In the Village of Pinecrest, 13 acre parcels of land this year have transferred ownership.  Five lots were exclusively land sales and eight were homes on acres that sold for land value. Here's the break down. Land Sales: Total 5 When looking at land values, the actual sale price is less significant than the sale price per square foot ($/SF) because parcels very in total square footage. In this study, the land varied from 38,000 to 56,000 square feet or 3/4 to 1.5 acres.  (1 acre = 43,560 SF).  The land that sold for... Continue Reading >